Former Sears exec says retailer has been on “death spiral” for decade

Sears, once America’s largest employer, is now fighting to stay in business. Its chairman promised again Tuesday to line up financing to save the classic retailer. His new offer goes to an auction on Monday, competing against other bidders who want to shut down the company. Sears filed for bankruptcy in October during a record wave of retail store closings. Tony Dokoupil reports.