Lampert, the majority debt holder in Kmart Corp. The 125-year-old company has. The impact to his portfolio due to. When Sears, once America’s largest retailer, made its bankruptcy filing Monday in a White Plains courthouse, the proximate cause was the decision by Eddie Lampert, by far its biggest individual. Which brings us to the case of Edward Lampert whose hedge fund ESL bought Kmart and then Sears. How did a hedge fund titan turn a $1. Eddie Lampert is shown in 2004 when he announced the merger of Kmart and Sears in New York. Lampert started as an. After 13 years under Lampert's stewardship, Sears finally seems to be hurtling toward bankruptcy, if not outright liquidation. The hero in the post bankruptcy saga so far has been Eddie Lampert, he submitted the only bid to buy substantially all the assets of Sears Holdings as a going concern for $5. Eddie Lampert Sears, Roebuck and Co. The retailer also rejected a takeover offer from former Sears CEO Eddie Lampert, once called the "next Warren Buffett. Subscribe to newsletters. He is also, based on comments he has made over the years — including a speech given to 1,000 employees at a company townhall meeting. Over several pages the article details how a "free market" organization installed by Mr. 2 billion bid to rescue Sears fails - as its creditors want - he has a secondary bid ready to go. Lampert’s hedge fund, ESL, disputed that. Longtime Sears boss and investor Eddie Lampert orchestrated a "multiyear and multifaceted scheme" to strip the company of assets and capitalize on its decline, a group of the retailer's major. Sears Holdings Corp. Eddie Lampert's home on Indian Creek Island. By Josh Baumgard Nov 21, 2017, 11:30am EST A post shared by Buster Bark (@busterbark) on Jul 9, 2017 at 8:12am PDT. His net worth soared to over $8 billion after he did the Sears deal. It’s the genius of Eddie Lampert at work, SHLDQ is buying back stock. Lampert may own. Still, his total annual compensation, which comes. Although there was much opposition to his ideas and plan to implement different structures, Edde continues with his ideas to better the companies and its entities. Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. Eddie Lampert helps bankroll Sears as woes persist after bankruptcy October 18, 2019 | 1:20pm. "We've been working hard to make Kmart a more fun, engaging. Fountainhead is a motor yacht built in 2011 by Feadship for American billionaire Eddie Lampert. Resolution of the litigation, which focused on $2 billion worth of pre-bankruptcy transactions engineered by. The fall of Sears 08:46. The company that pioneered the 20th-century version of e-commerce—the catalog—did not succumb to 21st-century innovations like Amazon and Walmart. Lampert, shown here in a 2004 photo, will contribute roughly $3 million. He is the proud owner of the Fountainhead yacht, showcasing his passion for luxury living. It blames its downfall on its mismanagement, over-expansion, and failure to adapt to changing market conditions. jude children's research hospital. 2 billion sale of its Sears and Kmart chains to former chairman and CEO Edward Lampert for about $18. His wealth can be attributed to his successful career as a hedge fund manager and his investments in various companies. In a bankruptcy court hearing this week, Sears chairman Eddie Lampert is fighting to get the bid of approximately $5. Sears creditors are questioning a series of deals between the company and its chairman and primary shareholder, Eddie Lampert, saying they might have been structured to benefit him rather than the. The article traces the rise and fall of Sears, from its origins as a mail-order retailer to its demise as a bankrupt company in 2018. Bankruptcy Court. June 30, 2011. Sears Holdings filed for bankruptcy in October, after years of losses under Lampert, who. Bankruptcy Court. Sure, Eddie Lampert's slow and cruel crusade to bleed Sears into oblivion has been fun to watch but not everyone can enjoy life's simple pleasures as we can, so now there's litigation:. retailer after presenting an improved offer of $5. Lampert, chairman, Sears Holdings, is seen at a meeting on March 24, 2005, in Hoffman Estates, a suburb of Chicago, Ilinois. Sears Holdings filed for bankruptcy in October, after years of losses under Lampert, who was then its chairman, CEO and largest shareholder. The CEO, chairman and largest shareholder of Sears Holdings on Tuesday offered to buy one of the financially. is accusing its former CEO Eddie Lampert of stripping the company of assets for his gain. He should walk away and start over. Sears CEO Eddie Lampert lives at a $38 million estate in Florida and is rarely seen at Sears' Illinois headquarters, only visiting about once a year. Eddie Lampert, CEO of Sears Holdings, is the worst rated CEO. FILE- In this Nov. Jodie Graft said she saw Pittsburgh's Action News 4's story on the arrest of 58-year-old Eddie Lambert on Tuesday. Warning! GuruFocus has. He's a couple of years shy of 50 and has an undergrad degree from Yale. Image source: Getty Images. Eddie Lampert has already contributed $1 billion in cash to Sears Holdings from the sale of Innovel solutions, and $300M in new money from the rollover of the Junior DIP (See Doc 2355-1 Page 608. Eddie Lampert has purchased a total of 173,574 new shares of a stock he already holds, Sears Hometown Outlet Stores Inc. Since Edward Lampert merged Kmart and Sears in 2005, the hedge-fund manager has kept his shrinking retail empire afloat with a web of complex transactions. Edward Lampert bought the bonds of Kmart during the time of its. 1 billion, and the retailer will live to see at least Sunday. The hedge fund king's name is well known for. Lampert owns over 45,718 units of Seritage Growth Properties stock worth over $133,144,951 and over the last 20 years he sold SRG stock worth over $490,191,698. FALSE Accessibility: Keyboard Navigation Difficulty: 1 Easy Learning Objective: 01-01 Understand how stories of change can contribute to our knowledge of theory and practice. Why it matters: Sears and Kmart have closed thousands of stores and cut around 250,000 jobs over the last 17 years. Jim Cramer. Identify the major problem faced by Sears Holdings Corporation two years after the merger of Kmart and Sears Roebuck. Lampert then gained the respect of billionaire Richard Rainwater, who funded Lampert's hedge fund, ESL Investments, with $28 million in seed money. By early. Edward Lampert is an American hedge fund manager who has a net worth of $600 million dollars. Lampert's bid to save some of what remains of the company failed. Lampert announced that new Sears will buy back the rest of the Sears Hometown and Outlet operation he spun off in 2012 while still retaining about a 60% ownership stake. The lawsuit filed today by Sears against Eddie Lampert and his. Cramer: Media Wrong on Eddie Lampert. When Arthur Martinez took the reins in 1992, Sears was losing about $3. My first year leading a 75-year-old startup: A reflection from CEO Daniel Pidgeon. Two had drug convictions; one was an eighth-grade dropout who, according. It wasn't long after Sears Holdings Corp. Eddie Lampert Net Worth and Earnings. By Josh Baumgard Nov 21, 2017, 11:30am EST A post shared by Buster Bark (@busterbark) on Jul 9, 2017 at 8:12am PDT. creditor lawsuit against former Chairman Edward S. He wasn't when he bought Sears. 9 million This fully renovated Mediterranean-style home is on the hyper-exclusive Indian Creek Island, a wealthy, 34-home enclave. Lampert owns over 45,718 units of Seritage Growth Properties stock worth over $133,144,951 and over the last 20 years he sold SRG stock worth over $490,191,698. The Elvis Wonder Show. Eddie Lampert, the dogged billionaire who's hitched his career and reputation to a fading American retail icon, will get another chance at reviving Sears Holdings Corp. 2 billion lifeline. Lampert's writings, which call both his sanity and grasp on reality into serious question. Lampert may own. He is also, based on comments he has made over the years — including a speech given to 1,000 employees at a company townhall meeting. An escalator leads into a Sears department store in the mall. Lampert, founder and CEO of private hedge fund ESL Investments, will step down as CEO after leading the company into bankruptcy. The bulk of the settlement funds—$125 million—will come from insurance. Last Updated: November 2023. Source: Sears Holdings Seritage Growth Properties, a real estate investment trust that was spun out of embattled department store chain Sears in 2015, said. Longtime Sears boss and investor Eddie Lampert orchestrated a "multiyear and multifaceted scheme" to strip the company of assets and capitalize on its decline, a group of the retailer's major. He's a couple of years shy of 50 and has an undergrad degree from Yale. 4, in which he disclosed a sale of 99,380 AutoNation shares at $107. 73 meters, and his weight is 73 kilograms. Eddie Lampert, a billionaire Connecticut hedge fund manager, has been dismantling Sears piece by piece for 13 years. Cramer's Take on select Eddie Lampert's Stocks, both of which can be found on Stockpickr. was first incorporated in 1892. 06 billion pounds). Ten years ago Sears Holdings Corp boss Eddie Lampert was widely regarded as the best investor of his his generation. Billionaire investor Eddie Lampert keeps cutting down his holdings of AutoNation Inc. At various points in his life, Edward's net worth has been as high as $4 billion. Edward Lampert Owner, Koondel, Cohen & Lampert LLC Jericho, NY. Lampert began at Sears with the ill-fated $12 billion merger with Kmart in 2005. Eddie Lampert is the CEO of Sears Holdings (SHLD) and ESL Investments. Every year the chiefs of Sears Holdings' many business units trudge across the company's sprawling headquarters in Hoffman Assets, Ill. These days, he claims the number 2 spot on. 4 billion loss and a $11 billion headache? The untold story of how Lampert. and who has been at the head of 7. A federal bankruptcy judge on Thursday approved Edward S. Sears was struggling before it got into Lampert’s hands. With his business prowess and strategic investment decisions, Lampert quickly became a prominent figure in the finance industry. 2 billion, a bid that will allow the iconic chain to avoid liquidation. But on Thursday, Sears CEO Eddie Lampert cast blame on the company’s retirees—specifically, pension plan payouts—for draining company coffers. The Fall and Fall of America’s Department Store. 5 billion it once managed at Sears’ peak in 2007, according to securities filings. The retailer also rejected a takeover offer from former Sears CEO Eddie Lampert, once called the "next Warren Buffett. Eddie Lampert's home on Indian Creek Island. ), American investor who was perhaps best known for orchestrating the merger of the American retail giants Sears, Roebuck and Company and Kmart in 2005. 10, the. The bulk of the settlement funds—$125 million—will come from insurance. A bankruptcy Judge approved Eddie Lampert’s $5. Sears Holdings Corp <SHLDQ. Eddie Lampert, the billionaire hedge fund manager who served as CEO of Sears from 2005 until the company filed. He was a director of AutoNation until May 2007. He searches for companies that are seriously undervalued, and he'll even risk jumping into. He served as chairman of the resulting Sears Holdings until shortly after his hedge fund. Lampert's father died at the age of 47 leaving the family impoverished and forcing his mother to take a job as a clerk at Saks Fifth Avenue. This net worth estimate does not reflect any other investments that Mr. Eddie Lampert, the chairman of Sears Holdings Corporation, restructured the company as a classic retailer. Hopefully somebody will find some way to throw Eddie Lampert out of Sears. By Rick Friedman/Corbis/Getty Images. He seemed poised to reverse the fortunes of both chains and turn the combined entity into a retail juggernaut. 2 billion acquisition of the U. Sears CEO Eddie Lampert is the man with a plan. Published Dec. " Buffett predicted the retailer's and Lampert's downfall in 2005. "He's the greatest investor of his generation," says fellow. 2 billion to former chairman Eddie Lampert and his hedge fund ESL Investments Inc, and the lease was transferred months later to. But while Sears is liquidating assets, the company's chairman, hedge fund billionaire Edward Lampert, is buying one for himself: a $40 million mansion on Florida's ultra exclusive Indian Creek. Despite recent stock gains, the once iconic retailer has little chance of becoming more than an asterisk on. "No one, not even Edward Lampert, can be team owner, and team manager. More than a decade ago, hedge fund manager Eddie Lampert touted his merger of Kmart and Sears by saying it would lay the groundwork for a grand revival of. 04 billion. Eddie Lampert taunted employees by posting under a fake name on the company's internal social network. Sears accuses its former CEO Eddie Lampert of stealing billions of dollars from the once-storied retailer. Lampert, a director and the largest shareholder of AutoZone Inc. This is a unique opportunity to imitate a successful hedge fund manager. His move from a. Edward Lampert, Ten Percent Owner at Sears Holdings, holds 14. He is the proud owner of the Fountainhead yacht, showcasing his passion for luxury living. Wiki Trivia on Eddie Lampert - Age, Wife, Family, & More. Sears CEO Eddie Lampert only gets a salary of $1 a year to run the troubled retailer. About 425 stores and. (Amanda Gordon/Bloomberg). , a private investment company, and the Chairman of Sears Holdings Corporation (SHLD). Hedge fund manager and former Sears CEO, Eddie Lampert, owns a 17,785-square-foot home that’s within walking distance from the Indian Creek Country Club. Lampert is chairman of Sears Holdings Corporation (SHLD) and founder, chairman and CEO of ESL Investments. 9m beam and a 4. "We've been working hard to make Kmart a more fun, engaging. Sears spun the Hometown brand off in 2012 in an effort to raise cash for the struggling parent operation, and it wasn't included in Sears Holdings Corp. BusinessWeek ran his picture on the cover with the headline "The Next Warren Buffett. It also profiles its founder, Eddie Lampert, who purchased Sears in 2004 and led its transformation into a retailer of appliances, tools, and services. While he has managed to make a significant fortune through his hedge fund, ESL Investments, he has also faced criticism for his business decisions, particularly his handling of Sears Holdings Corp. Sears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Investments, and former directors including Treasury Secretary Steven Mnuchin, accusing them of allowing the retailer. Lampert suggested recognizing the rollout over the last seven years of nearly 300 Lands’ End shops inside Sears, ranging from 5,000 to 10,000 square feet, with a handful as big as 20,000 square. Sears accuses its former CEO Eddie Lampert of stealing billions of dollars from the once-storied retailer. By the end of 2016, Lampert's fund held a mere $653 million—a sizable decline of 94% from the $16. Aug 11, 2022 · After nearly four years in bankruptcy, Sears Holdings and its one-time creditors said they have reached a settlement with its former CEO and majority owner Eddie Lampert and other investors. Edward Lampert speaks during a news conference to announce the merger of Kmart and Sears in New York, Nov. 4 billion offer was the only bid that could keep the company going in its entirety. Sears turned in another bleak quarterly earnings report on Thursday, and Lampert complained about the. Eddie Lampert, a billionaire Connecticut hedge fund manager, has been dismantling Sears piece by piece for 13 years. Hedge fund operator Eddie Lampert bought control of Sears for $11 billion. Sears CEO Eddie Lampert lives at a $38 million estate in Florida and is rarely seen at Sears' Illinois headquarters, only visiting about once a year. When Sears, once America’s largest retailer, made its bankruptcy filing Monday in a White Plains courthouse, the proximate cause was the decision by Eddie Lampert, by far its biggest individual. He is married to wife Kinga Lampert with three children. Lampert, who runs ESL Investments. Lawsuit Says Lampert Looted Sears -- And A Lot Of It Happened While Everyone Was Watching. The yacht’s value is estimated at $130 million. Lampert, a prominent hedge fund manager, was nabbed in an underground parking garage in downtown Greenwich and forced into a rented Ford Expedition. Eddie Lampert is the founder and chairman of the hedge fund ESL Investments. Lampert offered last month to buy Kenmore for $400 million, a business that Sears Holdings had valued at $500 million as recently as April, according to a Wall Street Journal report. 295 on Dec. 2 billion offer for its assets, says he will sell or sublease some of the 425 remaining stores, devote extra space to. Edward Lampert Profile. Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U. Lampert, through ESL, did not respond to an interview request. Few people on Wall Street are as polarizing as Eddie Lampert, the billionaire majority shareholder of Sears and Kmart. Sears, which declared bankruptcy in October 2018, was on the brink of liquidation. Over the next few years, Lampert would buy back over $5 billion dollars worth of Sears stock, spending over double what the company's expenditures at the time to do so. Besides his stock, Lampert holds about $381 million in. Eddie Lampert. porn faq, fake hostelporn
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, via Sears. 87M shares in Seritage (Ticker: SRG), holds 4. He was a director of AutoZone from 1999 to 2006. 1 billion. Billionaire Eddie Lampert will be spending less time on the slopes. 2 billion (£4. Edward S. 4 billion loss and a $11 billion headache? The untold story of how Lampert sullied his reputation, lost billions of dollars, and faced legal challenges in the Sears bankruptcy. , has never been mistaken for is a retail merchant. 's 2018 bankruptcy. The allegations centered on actions under Lampert's reign in the years leading up to the company's October 2018 Chapter 11 bankruptcy. On Thursday, presidential candidate Sen. Eddie Lampert. The company had gone. W hen Kinga Lampert was just 31 years old, she heard the words every woman fears: "You have breast cancer. Eddie Lampert is no longer the chief executive of Sears Holdings. Eddie Lampert. Edward Lampert is a billionaire entrepreneur who founded ESL Investments in 1988 and rescued Sears Holdings in 2019. CEO Eddie Lampert says Sears is shedding assets and shrinking in a fight to stay alive. But he does get a stock bonus, and for 2017 that bonus increased by $850,000, giving him a 24% raise. Lampert spent 609 words railing against trial lawyers and those who bring frivolous lawsuits against the company. Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U. In a further. He closed 600, or 30%, of Kmart's stores. Eddie Lampert is the founder and sole owner of ESL Investments. Billionaire investor Edward Lampert started his successful hedge fund, ESL, while still in his 20s, survived a kidnapping and turned around Kmart, but his golden touch seemingly ended with Sears. Edward Lampert, chairman and chief executive of Sears Holding Corp. When Chairman Ed Lampert fashioned the deal in which formerly bankrupt Kmart bought Sears in November, 2004 the company was valued at $11 billion and had 3,500 stores. The newly reopened Burbank store seemed similar to a classic Sears store of 2005 when Eddie Lampert, a hedge fund operator, acquired the chain for $11 billion and merged it with Kmart, another retailer under his control. Lampert, a director and the largest shareholder of AutoZone Inc. Even though Lampert has recently lost billions through the Sears bankruptcy, he is still a very rich man. Few people on Wall Street are as polarizing as Eddie Lampert, the billionaire majority shareholder of. 4 million in 2012, switching his primary residence from Greenwich, Connecticut,. creditor lawsuit against former Chairman Edward S. Hedge fund owner Edward Lampert has reached a roughly $21 million deal that would bring Sears Hometown stores under the same corporate umbrella as Sears. CEO Eddie Lampert will dramatically reduce the amount of lending he provides to the slumping retailer. Billionaire Eddie Lampert to Elizabeth Warren and Alexandria Ocasio-Cortez: Severance to workers has been paid. The top two dozen executives of Sears Roebuck & Co. Billionaire investor Eddie Lampert keeps cutting down his holdings of AutoNation Inc. The main beneficiary would once again be Eddie Lampert’s hedge fund. Jodie Graft said she saw Pittsburgh's Action News 4's story on the arrest of 58-year-old Eddie Lambert on Tuesday. But not for big businessmen. Such a glance can be found by taking a look at some of Mr. Put me in the same camp with Geoffrey James when it comes to saying that Ayn Rand is bad for business. The yacht's value is estimated at $130 million. The PBGC's legal objections come as the 126-year-old. Greed and scheming. 30, for proceeds of $10. Edward S. ESL Investments is managed by Edward Lampert, who founded it in April 1988 and named it after his initials. His mother was a housewife. Cuban contends that he's been mistaken for the owner before. Fountainhead, a megayacht owned by former Sears Holdings CEO and chairman Eddie Lampert, was spotted in the Lowcountry. Jim Cramer. 6 billion "in total consideration. Eddie Lampert suffered a setback in federal court this week when a judge effectively ruled that some of his claims against the bankrupt estate of Sears Holdings Corp. retailer, representing its only chance of escaping liquidation and. CANDICE C. A bankruptcy judge is giving Sears Chairman Eddie Lampert another chance to buy the department store chain out of bankruptcy and save roughly 50,000 jobs. Edward S. Blaming the vendors is the dumbest turnaround plan I have ever heard of. After graduating from Yale University, Lambert joined Goldman Sachs as an intern and later joined the company's Risk Arbitrage department. Sears, which also owns Kmart, filed for bankruptcy in October. Sears spun the Hometown brand off in 2012 in an effort to raise cash for the struggling parent operation, and it wasn't included in Sears Holdings Corp. Published Mon, Oct 15 2018 1:09 AM EDT Updated Mon, Oct 15 2018 2:18 PM EDT. Eddie wasn't a retailer when he bought Kmart. When Sears, once America’s largest retailer, made its bankruptcy filing Monday in a White Plains courthouse, the proximate cause was the decision by Eddie Lampert, by far its biggest individual. , July 11, 2013, “At Sears, Eddie Lampert’s Warring Divisions Model Adds to the Troubles,” Business Week. O> chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a. Edward Lampert, who steered Sears into bankruptcy and kept it alive with a $5. How did a hedge fund titan turn a $1. Photo: Globe Photos/ZUMA PRESS. Sears' chairman, Eddie Lampert, has won court approval to buy Sears out of bankruptcy and keep the 126-year-old retailer from liquidating. 00 in each of the past three years. Eddie Lampert helped Kmart out of bankruptcy after it filed in 2002. The total purchase price. Not unless you count AutoZone, but a department store is much different kind of retail. A bankruptcy Judge approved Eddie Lampert’s $5. Lampert has stepped down from his role as CEO, but he will stay on as Sears’s chair of. Eddie Lampert, Read 'Balter Shrugged'. Sears chairman Eddie Lampert's investment firm upped its bid for Sears Holdings to nearly $5. The higher bidder at $5. The firm invests in the American public equity and hedging markets. Great mistakes: A case study. Eddie Lampert suffered a setback in federal court this week when a judge effectively ruled that some of his claims against the bankrupt estate of Sears Holdings Corp. Sears turned in another bleak quarterly earnings report on Thursday, and Lampert complained about the. O> chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a. Lampert holds about $381 million in notes issued to Sears. March 27, 2023 | by Daphne Howland. Lampert is at least $1. Image source: Getty Images. 6 billion bid through his hedge fund, ESL Investments, for Sears, its real estate and brands like Kenmore and its Sears Auto. Lawyers and bankers who had been holed up in the offices of Weil, Gotshal & Manges on Fifth Avenue to work out a. His hedge fund, ESL Investments, is offering $4. Eddie Lampert’s $4. Eddie Lampert was heralded as a financial genius when he bought Sears in 2005 through a merger with Kmart. Lampert has spent the last 14 years steering Sears as it spun off businesses, took on debt and, this week, filed for bankruptcy protection. 2 billion, a bid that will allow the iconic chain to avoid liquidation. That world is long gone. In 2005, a financial prodigy named Eddie Lampert seized control of Sears by merging it with Kmart. Lampert was named CEO of the company in 2013 when more financial struggles hit. It was a mail-order company with a catalogue that swelled to over 320 pages by the turn of the century. Lampert offered last month to buy Kenmore for $400 million, a business that Sears Holdings had valued at $500 million as recently as April, according to a Wall Street Journal report. 11M shares in Lands' End (Ticker: LE). That's as Amazon just became the most. FILE- In this Nov. What is Edward S. Eddie Lampert led the company for the next thirteen years. The company was on the brink of liquidation, but Lampert’s hedge fund made a $5. Eddie Lampert's $4. In the past year, shares have fallen 23 percent and closed Tuesday at $10. He knows how to identify bargains, he knows how to use financial engineering of all sorts to. 5 billion it once managed at Sears' peak in 2007, according to securities filings. Cuban contends that he's been mistaken for the owner before. Edward Lampert is a prominent figure in the world of finance and business. Sears Holdings Corp. 73 meters, and his weight is 73 kilograms. Eddie Lampert, Read 'Balter Shrugged'. 4 billion bid in an effort to buy the retailer and keep it alive. Enjoy the best Edward Lampert Quotes at BrainyQuote. Edward Lampert is continuing to serve the dual role of Sears Holding Corp. 4 billion loss and a $11 billion headache? The untold story of how Lampert. [6] [7] The yacht is named after the famous novel The Fountainhead, written by Ayn Rand. 5 percent stake, according to FactSet. Eddie Lampert was born on July 19, 1962, and will be 60 years old as of 2023. . kira noir blow job