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A bankruptcy judge has approved the $5.2 billion sale of Sears to chairman Eddie Lampert’s hedge fund ESL Investments, saving the struggling store from liquidation, WSJ reports.
Why it matters: The purchase will effectively save 425 stores and 45,000 jobs. Sears has been given another life, but the reality is that the once-iconic retail chain stopped being relevant years ago.
Go deeper: The cannibal of Sears
Fracking has become a flashpoint in the election's final week, particularly in Pennsylvania where both President Trump and Joe Biden made stops on Monday. But much of the political rhetoric has ignored that the industry has gone from boom to bust, beset by layoffs, bankruptcies and fire-sale mergers.
Axios Re:Cap digs into the state of fracking, and what it means for the future of American energy, with Bob McNally, president of Rapidan Energy Group.
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Democrats are calling a last-minute audible on mail-in voting after last night's Supreme Court ruling on Wisconsin.
Driving the news: Wisconsin Democrats and the Democratic secretary of state of Michigan are urging voters to return absentee ballots to election clerks’ offices or drop boxes. They are warning that the USPS may not be able to deliver ballots by the Election Day deadline.
Carts full of court documents related to the U.S. v. Keith Raniere case arrive at the U.S. District Court for the Eastern District of New York in May 2019. Photo: Drew Angerer/Getty Images
Nxivm cult leader Keith Raniere, 60, was sentenced to 120 years in prison on Tuesday in federal court for sex trafficking among other crimes, the New York Times reports.
Catch up quick: Raniere was convicted last summer with sex trafficking, conspiracy, sexual exploitation of a child, racketeering, forced labor and possession of child pornography. His so-called self-improvement workshops, which disguised rampant sexual abuse, were popular among Hollywood and business circles.