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News, Views & Culture of the Eastern Sierra sheetthe News, Views & Culture of the Eastern Sierra MHS Volleyball advanced in the state tourney on Thursday night, defeating St. Bernard. For coverage, see p. 10 Saturday, November 16, 2019 FREE Vol. 17, No. 46 BISHOP KMART TO CLOSE By Hite BREAKING THE TAPE ransformco holdings, form Sears Holdings Corpora- the parent company to tion. TKmart and Sears, issued Sears Holdings combined a press release on November company profits peaked in 2006 7 that read “Since purchasing at $1.5 billion. Due to retail substantially all the assets of pressure from tech giants like Sears Holdings Corporation in Amazon, Sears began to bleed February 2019, Transformco money. From 2011 to 2016 the has faced a difficult retail envi- company lost $10.4 billion. And ronment and other challenges.” from 2010 to 2017, Sears hold- and then stated, “we have made ings stores declined from 3,500 the difficult but necessary deci- stores to 695. sion to streamline our opera- After closing a couple tions and close 96 Sears and hundred more stores, Sears Kmart stores.” Holdings was about to file for California, by itself, is losing Chapter 7 liquidation before a nine K-Marts and 19 Sears. judge ordered the company to And one of those Kmart’s is strike a new deal to keep the Bishop’s stores open. Transformco hold- The closure represents a ings purchased 425 stores (223 tangible loss to Bishop and the Sears and 202 Kmarts) from Eastern Sierra as a whole. This Sears Holding for $5.2 billion leaves Bishop with no big box in February, 2019. Stores not Lack of natural snow did not curb natural enthusiasm for MMSA’s season opener. department stores to supply the purchased were immediately community “with the basics,” liquidated. MLT SETTLES ... BEFORE WINTER said Tawni Thomson, Executive On August 6, 2019, Trans- By Lunch Director of the Bishop Chamber formco announced it would ell, if Steve Harvey Because the “Feud” between developer Dirk Winter has ap- of Commerce. close 26 stores (5 Kmarts and 21 lived here, he’d be out Mammoth Lakes Tourism and parently runs its course. Residents of Bishop may Sears), in October of this year. of a job. erstwhile event/event venue MLT and Winter reached feel like this is an indictment W see BLUE LIGHT, page 6 agreement this week to settle against their town, or rather a their differences. sign of the town not being able The differences were ob- to support a big box store, but NET GAINES structing Winter’s ability to Thomson disagrees. close escrow on a deal to flip “The important thing to keep the Woodsite property he in mind is this store closed acquired just two-and-a-half down for reasons that have years ago - using MLT’s money nothing to do with Bishop. as the down payment. There is nothing wrong with our Winter bought the property town.” from Sam Walker and Dennis The history of Transformco, Hartman for $3.95 million. The formerly Sears Holding, would sales price is said to be $5.9 tend to support this view. million. Kmart was officially incorpo- Understandably, MLT want- rated in 1899 but the first store ed its $300,000 back, money it named ‘Kmart’ didn’t open had given Winter to encour- until 1962. At its peak in 1994, age him to close initially back Kmart operated 2,486 stores in April, 2017. MLT believed globally, including 2,323 stores in the U.S. In 2002, Kmart de- the money would go towards clared bankruptcy and closed infrastructure improvements 326 stores the following year. It to develop the site as an events State Board of Equalization member Ted Gaines (center) passed through Inyo and Mono Counties this week to venue. was kept afloat by ESL invest- meet with various local officials. Which is fairly typical of Gaines. As a State Senator, he always made it a point ments, a hedge fund, whichpur- The terms of the deal, as to campaign locally. Pictured at Whiskey Creek in Bishop on Wednesday, from left: Inyo County Assessor Dave outlined by Mammoth Lakes chased Kmart’s debt. In 2005, Stottlemyre, Julie Faber, “Mr. Bishop” Chuck Kilpatrick, Gaines, Interim Bishop City Manager Robin Picken, Kmart merged with Sears to Bishop Mayor Jim Ellis and Gaines’s Chief of Staff Dave Titus. Trivia question: Who is the highest-ranking Tourism Board Chair John (elected) Republican in the state of California? Answer: Ted Gaines. see FEUD, page 2 Bloomberg news Plover lovers Dialysis Blues Budget Blues Congestion is good! p. 19/ p. 13/ p. 8/ p. 5/ p. 18/ 2 I www.thesheetnews.com THE SHEET I Saturday, November 16, 2019 FEUD the Ted Carleton ....... Jack of all Lunches continued from page 1 760.937.4613 / [email protected] Morris, call for Winter to make two $300,000 payments by january, 2021. June Simpkins...Jack of everything else The first $300,000 is due within thirty days. 760.937.3967 / [email protected] The second payment, due in approximately 14 months, carries a 7% sheet Zachary Hite ................... Writer interest rate. News, Views & Culture of the Eastern Sierra [email protected] In addition, The Festival of Beers and Bluesapalooza, Sierra Classic The- atre’s Shakespeare in the Woods and the Mono Arts Council’s Labor Day Owen Page ..................... Writer [email protected] Arts Festival will have a home for 2020. “Long currere est dux in current rebus Rent charged to Mammoth Brewing Company for the 2020 Bluesapaloo- errans. In detegere possumus omnes Melissa Maddux .............Writer za is also capped at a CPI increase. mortui sunt” [email protected] The agreement represents a separate addendum and supersedes the -John Maynard Keynes existing contract. Charles James ............ Contributor 760.614.0546 On the surface, it looks decent. $600,000 for $300,000 plus the estimated $85,000 MLT has spent in legal fees. JACK LUNCH Clouds McCloud ......... Ass-trologer But this doesn’t take into account lost time - three years down the road. PUBLISHER Spike Todd ........... Lost opportunity. Staff time wasted - and in Executive director John Urdi’s P.O. Box 8088 Beverage Consultant case, that’s expensive staff time. Then there’s Events Coordinator Caroline Mammoth Lakes, CA 93546 For a subscription to The Sheet contact Lunch Casey, who has been handcuffed by uncertainty and lack of a venue. 760.924.0048/[email protected] at his above e-mail address, or call the office. As Morris said, “It’s the best outcome we could hope for. We’ve tried to An adjudicated paper of general circula- Issues are mailed out bi-weekly. Cost is $75/ account for every contingency.” tion. ©2019 The Sheet, all rights reserved. year. But no one’s really happy. Or should be happy, anyway. Except perhaps given that those involved in the real estate transactions. it hasn’t snowed yet - a reference to last year, when Mammoth’s Town And the attorneys. Don’t forget the attorneys. Council gave MLT $250,000 before Thanksgiving - and therecord snowfall The Sheet asked Morris why MLT believes Winter will follow through on that followed. his promises now when he’s never followed through on a promise before. Morris laughed. “After last year, we built timing issues into the marketing Morris said that while the lien MLT had on the property during the legal plan. I don’t anticipate we’ll be asking for emergency money,” he said. battle has been removed, MLT can still go after Mr. Winter personally if he does not live up to the terms and make his payments. From the “You Can’t Make This Shit Up” department ... MLT attorney Tim Sanford added that loser pays attorney fees, so that would represent a “poison pill” that Mr. Winter would likely wish to avoid. “He [Winter] would have to go to personal bankruptcy to avoid it [the settlement],” said Morris, who said the $600,000 from the settlement will be dedicated for the elusive events venue. On a lighter note, The Sheet asked Morris if MLT would be coming before the town asking for emergency marketing funds in the near future #2 FELICI & FRIENDS CONCERTS 2019-2020 Seri The Sonora Strings with guest artists Ruth Lenz, violin, and Dustin Budish, viola So if I have this straight, you’re gonna hire me - but only for two months, while we liquidate. SEIZING If there ever was a deal where I’d want my money up front ... Joseph Haydn (1732-1809) I’ll bet you Dirk Winter is gonna head over there, negotiate a big signing String Quartet in F Major opus 74 no. 2 bonus, and then never show up for work. FATE Joseph Jongen (1873-1953) You could learn a lot from that guy. Sérénade Tendre for String Quartet But it’s funny, I’m sitting here looking at the photo and realizing, “But ... Ludwig van Beethoven (1770-1827) what’s gonna happen to Little Caesars?” String Quartet in C Major, opus 59 no. 3, Hite didn’t address that in his story. Rookie mistake. “Razumovsky” He didn’t address the hiring question either, come to think of it. But back to Little Caesars. I’ve never ordered it - probably because the idea of ordering pizza in a Kmart is like ... there are certain places which are antithetical to producing decent cuisine. Kmart, airport food courts, Elko, Nevada. SATURDAY SUNDAY Never mind that when it comes to pizza in Bishop, I’m partial to the Pizza 7:30 pm 4:00 pm Factory. And my daughter’s partial as well (game room). I mean, it’s a fac- Nov.
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