Bankrupt footwear retailer Payless said in a court filing that it is investigating possible claims against private equity firms Golden Gate Capital and Blum Capital Partners, which acquired the Kansas-based company back in 2012. At issue is more than $350 million worth of fees and dividends that the two firms reportedly received from Payless, which may have contributed to the company's unsustainable debt-load.

Why it matters: If Payless were to prove some sort of sponsor liability related to dividend recaps, it would send a chill through a private equity industry that uses such techniques to juice returns (often without enough regard for the possible consequences).

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Delta CEO: Trump administration should issue mask mandate for air travel

Photo: Al Seib/Los Angeles Times via Getty Images

Delta CEO Ed Bastian on Friday told CNN that he believes the Trump administration should move to require the use of face masks during air travel amid a surge in coronavirus cases.

The big picture: Delta already requires passengers to wear masks during its flights, but Bastian says it can be difficult to enforce that directive if passengers refuse — and he's not sure if other airlines would be on board.

Trump's outdoor New Hampshire rally postponed due to weather

Photo: Win McNamee/Getty Images

President Trump's outdoor campaign rally in Portsmouth, N.H., slated to take place on Saturday, was postponed on Friday due to weather from Tropical Storm Fay, a senior White House official confirmed to Axios.

The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 12,294,117 — Total deaths: 555,531 — Total recoveries — 6,761,933Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,118,168 — Total deaths: 133,291 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.' new default strategy: herd immunity.
  4. Business: The pandemic is driving a second jobs apocalypse.
  5. ✈️ Travel: Airlines say air quality, cleanliness lower risk.
  6. Sports: Sen. Richard Blumenthal calls on colleges to cancel fall sports.