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Sears Holdings obtains $500 million loan — with some help from Eddie Lampert
Sears Holdings Corp. announced it obtained a 15-month $500 million secured loan facility. ESL Investments, the company controlled by Sears chairman and CEO Edward Lampert, helped provide part of the loan and is entitled to related fees.
Sears said $250 million of the 15-month loan was funded on Friday with the remainder being accessible in the future.
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Retailers to benefit from postal rate reduction
In what has been described as an historic rate reduction, the U.S. Postal Service (USPS) will roll back postage rates on April 10.
The reduction – the first stamp prices have fallen since 1919 – is prompted by the removal of the 4.3% exigent surcharge. It will apply to several mail classifications, including letters, large envelopes, flats, and postcards.

