Photo: Roberto Machado Noa/LightRocket via Getty Images

Sears CEO Eddie Lampert is suggesting a last-ditch effort to prevent a bankruptcy for the embattled department store chain, according to a proposal by major shareholder ESL Partners, Lampert's hedge fund.

Why it matters: A debt payment is looming, and Sears is tight on cash. Lampert, whose hedge fund also owns Sears's debt, has a lot on the line should Sears go bankrupt.

The details of the proposal:

  • Sell off $1.75 billion in assets (including Sears Home Services and Kenmore).
  • Offload $1.5 billion worth of real estate.
  • Ask lenders to swap loans for equity stakes.
  • If approved by the board, the plan would cut Sears's $5 billion debt load to about $1.2 billion.

Go deeper: The cannibal of Sears.

Go deeper

Grand jury indicts former officer who shot Breonna Taylor

A memorial to Breonna Taylor in downtown Louisville, Kentucky on Sept. 23. Photo: Jeff Dean/AFP via Getty Images

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March and shot her at least eight times, on three counts of wanton endangerment.

The state of play: None of the three officers involved in the botched drug raid will face charges related to the actual death of Taylor, such as homicide or manslaughter.

FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

CEO confidence rises for the first time in over 2 years

Data: Business Roundtable; Chart: Naema Ahmed/Axios

A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable.

Why it matters: The index, which still remains at a decade low, reflects corporate America's expectations for sales, hiring and spending — which plummeted amid uncertainty when the pandemic hit.

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