Sports Authority files for Chapter 11 bankruptcy protection

NEW YORK — Sports Authority is filing for Chapter 11 bankruptcy protection.

The retailer said Wednesday that it plans to close or sell about 140 stores and two distribution centers, in Denver and Chicago. The Englewood, Colorado, company has 463 stores in 41 states and Puerto Rico. The store closings are expected to take up to three months.

Sports Authority stores will remain open and run on normal schedules during the Chapter 11 process. The company's website will continue to function, and the chain plans to honor warranties on items purchased at its stores or online.

"We are taking this action so that we can continue to adapt our business to meet the changing dynamics in the retail industry," CEO Michael Foss said in a written statement. The executive said that it needs fewer stores as consumers are increasingly shifting to online shopping.

The retail industry as a whole has struggled with the consumer move to online shopping, trying to find ways to lure customers to brick-and-mortar stores instead. Macy's Inc. has opened Macy's Backstage, in order to go head to head with discount retailer T.J. Maxx. And J.C. Penney Co. is using store-label offerings to fight against pricing pressures from online rivals and recently launched a new campaign called "Get Your Penney's Worth," which offers certain store-label items for pennies.

In a letter to customers posted on the company's website, Foss said that Sports Authority's long-term plan includes upgrading stores and improving its website.

Foss said that The Sports Authority Inc., which is privately-held, has received interest from third parties that may want to invest in or buy some or all of the business. The company plans to continue evaluating all of its options, he added.

Sports Authority said that it expects to have sufficient liquidity during the Chapter 11 process when factoring in cash from operations and anticipated access to up to $595 million in debtor-in-possession financing.

Sports Authority made its Chapter 11 filing in the United States Bankruptcy Court for the District of Delaware

Link : http://www.bostonherald.com/business/business_markets/2016/03/sports_authority_files_for_chapter_11_bankruptcy_protection

Class 1A boys' hockey quarterfinal preview: Litchfield/Dassel-Cokato vs. Hermantown

Litchfield/Dassel-Cokato (20-8) vs. Hermantown (No. 1, 24-2-1), 6 p.m. Wednesday

Scouting the Dragons: Senior power forward David Raisanen, at 6-6, 215 pounds, has scored 41 goals this season, 10 more than Litchfield/Dassel-Cokato's No. 2 goal-scorer Jared Pedersen, also a senior. Yet another senior, defenseman Ben Haugo, has 15 goals, including the winner in overtime against Luverne in the Section 3 championship. The team, which hadn't advanced from the section quarterfinals in each of the three previous seasons, defeated all three of this year's playoff opponents — Marshall, Hutchinson and Luverne — by one goal. The Dragons last reached the state tournament in 2008, when they lost 4-0 to Warroad and 7-0 to Mankato West.

Scouting the Hawks: Hermantown's mind-boggling run of runner-up state tournament finishes in each of the past six seasons is unprecedented in Minnesota high school sports. All those championship game losses serve as "a big cloud hanging over us," coach Bruce Plante said. The 67-year-old Plante, in his 27th season guiding the Hawks, earned his 500th career victory this season. The Hawks have two potent scoring lines, a defensive corps led by Mr. Hockey award finalist Wyatt Aamodt, wo has five goals, 33 assists and dozens of bone-­crunching hits. Battle-tested senior goaltender Luke Olson has a 1.36 goals-against average and .940 save percentage.

Worth knowing: Hermantown junior forward Ryan Sandelin, who has 23 goals and 30 assists and plays on the Hawks' top line, is the son of Minnesota Duluth men's hockey coach Scott Sandelin.

LOREN NELSON


Link : http://www.startribune.com/class-1a-boys-hockey-quarterfinal-preview-litchfield-dassel-cokato-vs-hermantown/370739711/

'Nina' trailer debuts, reignites controversy over casting of Zoe Saldana as darker-skinned blues great Nina Simone

The first trailer for a controversial Nina Simone biopic debuted Wednesday, but the movie is still hitting a sour note with detractors on social media.

"Nina," which hits theaters and VOD on April 22, stars Zoe Saldana as the blues legend who was a major figure during the civil rights movement. And the idea that a light-skinned Latina actress was cast over a black counterpart has gotten a big thumbs-down on Twitter.

"Don't get me Wrong Zoe Saldana is a great actress! But you mean NO black singing actresses could play the part of Nina Simone? #Disappointed," tweeted one commentator.

Judging from the trailer, which debuted on the "Today" show, Saldana brings the dramatic chops to the project. She's joined by an impressive backup band in front of and behind the camera, including co-star David Oyelowo ("Selma") and director Cynthia Mort ("The Brave One.")

Saldana had signed on for the project in 2012 — and faced uproar over the choice ever since.

"In the case of Simone, much of her legacy is tied to her appearance," Marc Lamont Hill wrote in 2013 for Ebony. "In the late 1950s and throughout the 1960s when blacks were straightening their hair and bleaching their skin, Simone had the courage to fully embrace her beautiful dark skin, kinky hair, full lips and wide nose without apology.

"Simone's mind, body and spirit were a fierce challenge to the logic of white supremacy."

Simone is an important figure in American history for the black community, with the High Priestess of Soul having provided a soundtrack for the late 60s with racially-affirming anthems like "Ain't Got No/I Got Life" and "Mississippi Goddam."

The "Feelin' Good" crooner, who died in 2003, has made a comeback in the past year. She was the subject of the Netflix documentary, "What Happened, Miss Simone?," which was nominated for an Oscar.

Link : http://www.nydailynews.com/entertainment/movies/nina-trailer-debuts-sparks-flap-zoe-saldana-casting-article-1.2550435

Adam Johnson child sex shame: Footballer facing 'significant' jail sentence after being convicted of sexual activity with schoolgirl

FORMER England footballer Adam Johnson has been told there is a "very high probability" he will be jailed for a "significant" length of time after being convicted of one count of sexual activity with a child.

Jurors at Bradford Crown Court found the former Sunderland FC winger guilty by a majority of 10-2 after Judge Jonathan Rose said he would accept a majority verdict.

The disgraced star was cleared by the jury on a second count - oral sex with a child - after the trial, which last more than two weeks.

Live updates from court

Johnson, 28, admitted grooming a 15-year-old girl and sexual activity with the teenager, relating to kissing her in his Range Rover, but denied the two more serious charges of sexual activity with a child - one involving oral sex and another involving digital penetration. He was found guilty of the latter charge.

The charges against him arose from a meeting between Johnson and the girl in his car in County Durham on January 30 last year.

Judge Rose said a custodial sentence is "the almost inevitable outcome" but granted Johnson bail until the hearing, which will be held at a later date.

Just before he left the dock, Judge Rose told Johnson that being released on bail meant he could get his "affairs in order".

He said: "You can say goodbye to your daughter. A prison sentence will mean you will not see her for some time."

Explaining his bail conditions, the judge said Johnson would be "well advised to stay well aware from social media".

There was no obvious reaction to the verdict from Johnson, who was sitting in the dock with two security guards.

The judge said his preliminary view was that the case falls into the category of a five year prison sentence with a range of four to 10 years.

He said: "The defendant must understand there is a very high probability of a significant custodial sentence."

In a statement issued after the case, Sunderland FC said it "refuted" any suggestion the club knew all along that Johnson was intending to change his plea just before his trial so he could continue to play for them, and that the club may have been involved in tactical discussions about the plea.





The club said it was not advised in advance that Johnson would plead guilty to any offence.

"Had the club known that Mr Johnson intended to plead guilty to any of these charges, then his employment would have been terminated immediately," the statement said.

"Indeed, upon learning of the guilty plea on 11 February 2016, the club acted quickly and decisively in terminating Adam Johnson's contract without notice.

"The club did not give evidence either for the prosecution or the defence in this case.

"It was therefore not present in court when it is understood that a suggestion was made that the club knew all along that Mr Johnson was intending to change his plea just before trial to enable him to continue to play football for the club and that the club may also have been involved in tactical discussions about the plea.

"This is utterly without foundation and is refuted in the strongest possible terms.

"The club never placed any pressure or demands on Mr Johnson to play football during this process."


Link : http://www.dailyrecord.co.uk/news/uk-world-news/adam-johnson-child-sex-shame-7480394#oe1A1WckEEtX7Irs.97

Former CIA Director Sees Military Refusing To Follow Some Of Trump's Orders If He Becomes President

Former CIA director Michael Hayden believes there is a legitimate possibility that the US military would refuse to follow orders given by Donald Trump if the Republican front-runner becomes president and decides to make good on certain campaign pledges.

Hayden, who also headed the National Security Agency from 1999 to 2005, made the provocative statement on Friday during an appearance on HBO's "Real Time with Bill Maher." Trump, fresh off a string of primary victories, has yet to secure his party's nomination, but Hayden said the candidate's rhetoric already raises troubling questions.

"I would be incredibly concerned if a President Trump governed in a way that was consistent with the language that candidate Trump expressed during the campaign," Hayden said during the interview with Maher.

Earlier this month, Trump told a South Carolina retirement community that he supports waterboarding and similar interrogation techniques because "torture works" when it comes to extracting vital information from terrorists.

Deeming waterboarding "torture," President Barack Obama's administration discontinued its use during his first term in office. Proponents of the controversial practice, as The Washington Post's Jenna Johnson noted, avoid labeling it as torture, which would violate various international laws and treaties. Trump, meanwhile, has not only pledged to reinstate waterboarding, but also introduce other methods of interrogation that are "so much worse" and "much stronger."

"Don't tell me it doesn't work - torture works," Trump told the Sun City retirement community. "Okay, folks? Torture - you know, half these guys (say): 'Torture doesn't work.' Believe me, it works. Okay?"

Trump has also said on multiple occasions that the United States should kill the family members of terrorists.

"That will make people think. Because they do not care very much about their lives, but they do care, believe it or not, about their family's lives," Trump said during a debate of Republican presidential candidates in December.

Politifact has pointed out that targeting terrorists' family members is barred by the Geneva Conventions.

During his appearance on "Real Time," Hayden cited Trump's pledge to kill family members as being among his most troubling campaign statements.

"That never even occurred to you, right?" Maher asked.

"God, no!" Hayden replied. "Let me give you a punchline: If he were to order that once in government, the American armed forces would refuse to act."

"That's quite a statement, sir," Maher said.

"You are required not to follow an unlawful order," Hayden added. "That would be in violation of all the international laws of armed conflict."

"You've given us a great reason not to support Trump. There would be a coup in this country," Maher joked.

Hayden said he didn't mean to imply that the military would provoke "a coup."

Link : http://www.ndtv.com/world-news/former-cia-director-sees-military-refusing-to-follow-some-of-trumps-orders-if-he-becomes-president-1282289

Long space stay set to end - with eye to Mars

CAPE CANAVERAL, Fla. - As soon as he returns from the International Space Station, NASA's first and only yearlong spaceman, Scott Kelly, will try to pop up from a lying position and stand still for three minutes. He'll take a crack at a mini-obstacle course and attempt to walk a straight line, heel to toe - all so researchers can see whether he would hit the ground running if this were Mars instead of Earth.
NASA considers it crucial prep work for future Mars explorers who will have to spend much longer in space. In fact, this mission - which began with a launch last March - is all about Mars.

"I think we'll learn a lot about longer-duration spaceflight and how that will take us to Mars someday," Kelly said Thursday in his final news conference from orbit.

Kelly's 340-day mission - the longest by 125 days for NASA - comes to a dramatic end Wednesday on the steppes of Kazakhstan. (It will be Tuesday night in the U.S.) The astronaut will ride a Soyuz spacecraft back with two Russians, including Mikhail Kornienko, his roommate for the past year.

Once out of the capsule, the two will submit to a multitude of field tests.
What could new arrivals do on Mars, asks Stevan Gilmore, the lead flight surgeon who will be at the landing site to receive Kelly. Could they jump up and down? Could they open a hatch? Could they do an immediate spacewalk?

The tests on Kelly and Kornienko should provide some answers. There will also be blood draws, heart monitoring, and other medical exams. The testing will continue for weeks if not months.

Checkups will also continue for Kelly's identical twin, retired astronaut Mark Kelly. The 52-year-old brothers joined forces to provide NASA with a potential gold mine of scientific data: one twin studied for a year in orbit - twice the usual space station stay - while his genetic double underwent similar tests on the ground.

While a handful of Russians have spent longer in space, the record being a 438-day flight, those expeditions date back to the 1980s and 1990s aboard the Mir space station, rustic if not rickety compared with the current space station. Medical testing was spotty back then, and the data weren't always widely shared.

As of Thursday - Day 335 - Kelly professed to feeling pretty good. Indeed, flight surgeon Gilmore doesn't expect any alarming results at touchdown.

The real question mark - and Kelly's biggest concern - is the possible lingering effects of space radiation. "Hopefully, I'll never find out what the true effects are of that," Kelly said. NASA will need to tackle the problem for Mars trips because of the increased level of exposure.

Link : http://www.philly.com/philly/news/20160229_Long_space_stay_set_to_end_-_with_eye_to_Mars.html

China's central bank fixes yuan at four-week low despite pledge

China's central bank on Monday fixed its central rate for the yuan currency at a four-week low, data showed, despite comments by chief Zhou Xiaochuan that there was no basis for further depreciation.

The People's Bank of China (PBOC) set the yuan at 6.5452 to $1.0, down 0.17% from Friday, according to the China Foreign Exchange Trade System. The fix was the weakest since February 3, previous figures showed.

The weaker currency hurt the sentiment on the stock market, with the benchmark Shanghai Composite Index dropping as much as 4.44% on Monday morning.

PBOC Governor Zhou Xiaochuan on Friday told a seminar on the sidelines of the G20 finance ministers' meeting in Shanghai that the yuan -- also known as the renminbi (RMB) --- would be stable.

"There is no basis for persistent renminbi depreciation from the perspective of fundamentals," he said.

Authorities only allow the yuan to rise or fall 2% on either side of the daily fix, to prevent volatility and maintain control over the currency.

But a shock currency devaluation in August, which saw the normally stable unit guided down nearly 5% in a week followed by another drop in January, raised suspicions that Beijing is pursuing a currency war to make its exports cheaper. The Central bank chief Xiaochuan had denied those accusations on Friday.

In a communique, G20 countries on Saturday had pledged to avoid "competitive devaluations", though the document made no direct mention of China.

Xiaochuan and other Chinese officials have repeatedly pledged to move towards a more flexible exchange rate.

The US Treasury Secretary Jacob Lew, who is visiting China, on Monday has urged the country's premier Li Keqiang to implement economic reforms.

"It is also critical that China continues to move toward a more market-determined exchange rate in an orderly manner," he said in Beijing.

The yuan was quoted at 6.5480 to $1.0 around midday on Monday, weakening slightly from Friday's close of 6.5372.

The central bank said it has pumped 230 billion yuan (nearly $35 billion) into the financial system on Monday, bringing total fund injections over the past week to over 1.0 trillion yuan, according to state media.



Link : http://www.dnaindia.com/money/report-china-fixes-yuan-at-four-week-low-despite-pledge-2183751