westchester

Marty Cantor talks about the bankruptcies and what it means for your wallet. 

New Jersey

NJ Weather Stories

Weather stories

NJ | Weather

NJFORECAST

Weather conditions are going to be inclement as we head into the weekend as we end the weekend, I should say because the beginning part of the weekend is great. It's just Sunday. We have to deal with this. The downpours that are coming through the state. This is going to be an issue pretty much for everyone and everyone's expecting to get slammed with a lot of rain, especially overnight, Sunday, too early on Monday. I think after seven pm on Sunday, we got to be careful for some downpours that leave way for flooding nuisance and flash as we could see the gusts also going to be strong along the coast. That's what that red color represents along, uh Monmouth Ocean Counties, uh Atlantic and also Cape May County, east of the Parkway. Definitely going to be a hazard 30 to 50 mile per hour gusts knocking down holiday decorations as well. Not updated yet, but it will be very soon. This is going to be the widespread rain that's going to be about 2 to 3 inches across the state. Certainly something that needs to be very, uh, we need to monitor very carefully here because the three inch plus could be where we have excess downpours embedded downpours that follow each other as they make their way through New Jersey. Sunday morning is fine. But then once you head toward the late morning, early afternoon showers and storms set up from south, lifting to the north and you can see it gets heavier and heavier with each cell that develops and moves toward our area. It is going to be an issue for the afternoon and into the evening as well. Now, with those downpours that you can see training there one after another after another, that's my concern for the flooding could be area flooding which could be nuisance, but then there also could be flash flooding which could be life threatening. Certainly a situation that we need to watch carefully because excessive rainfall is in the forecast, right? 2 to 3 inches of rain. That's a problem you'll see here by 10, a squall line sets up from west and it slides to the east moving offshore overnight. 123 AM in the morning, it finally leaves New Jersey and then eventually clears out rather rapidly. In fact, by 5 a.m. in the morning, everything should be done across the area and we'll be left with whatever is left over from the rain, which is going to be big puddles and perhaps, maybe some knocked out power moved decorations outside. So it's very important for us to watch this carefully because now that we're getting more insight on the forecast. Flooding is becoming an increasingly more likely threat and that's something that I want you to be prepared for Sunday afternoon and Sunday overnight.

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Weather

Brooklyn

BK | Weather

BXFORECAST

All right, we are on storm watch on this Friday afternoon. Alan's back now as we've got a storm coming Sunday, that's got rain and strong winds. Right. Alan, right. So those loose holiday decorations, Dan, I don't know if you have any that are loose. I would either secure them or move them in and what better way than to do it then on Saturday. Because listen, it is going to be beautiful, a beautiful experience. 55 and sunny on a Saturday in December. That does not happen very often. So, take it of that because on Sunday it's going to get a whole lot worse. Sure. The temperature says 65 and that's actually near a record high, which is 71 of the warmest December days we've had in a long time, but it will be coming in with those storms and it's going to be a little bit of a rough ride heading into the evening hours. Let's take a look at the latest timing. Here's how I can break this down as best as possible to your neighborhoods heading into Sunday and Monday start time is likely 9 a.m. on Sunday. It will be on and off showers, some steady rain and the wind will slowly but surely pick up throughout the course of the afternoon after nine pm. On Sunday through the wee hours of Monday morning, that's when you want to stay home. Don't have anyone, any loved ones going outside. Make sure your pets are also secure because they might be a little bit loud there with some of the wind gusts howling as well as the lightning and the thunder as well. There will also be some of those again damaging wind gusts through 4 a.m. And then throughout course of the morning commute on Monday, things taper off very quickly. It's like, wait, it did it even rain. That's kind of what it's going to be like. Heading into the morning commute on Monday. Let's take a look at the future cast again. Seven in the morning, we're dry heading after 9 a.m. Here comes the rain over head our borough. We're going to see some pockets of moderate rain. This is at around lunchtime for North Bay Chester as well as Bathgate. Then a little bit of a lull here and there on and off showers is the best way to describe it. But then here we go into the evening hours as the rain picks up becomes heavy in a hurry. We're seeing some of that heavy rain. Wakefield Co op City approaching the midnight hour and on top of that wind gusts continue to be a concern, especially along the coastline. Take a look approaching midnight, how we could get 50. That's right. 50 mile per hour gusts hunts point frogs, Neck City Island that could cause some scattered power outages. Again. When you have these wind gusts approaching 50 MPH. That is definitely a concern for no matter where you are across our borough, but especially for our coastal community. So let's take a look at that 10 day forecast. And what you're also going to see are the temperatures we're talking about what, 65 by Sunday evening, but then we're down to freezing by Monday night. So this is going to be a big temperature drop behind the storm. A lot of rain is flooding going to be an issue. Flooding is a possibility, especially on the prone areas like the Bronx River and Mashalu. We've seen that flooding counting those times and we're probably going to see it again. Best idea though, as Alan said Sunday night into Monday morning, just stay home. All right. Thank you Al.

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Westchester

WC | Weather

HVFORECAST

But Matt, not so much on Sunday. Right. Oh, no, not, not on Sunday a place you want to be because we have that rain developing. We'll have some decent heavy downpours at times. Sunday evening, Sunday night, it could even be a few isolated ones before then. So a lot to track into the upcoming 5050 weekend. Let's head on over to the map and do just that tomorrow. Really nice day. Still, in my opinion, the pick of the week tomorrow, there's not going to be a ton of sunshine at times. There will be more clouds than sun, but temperatures get up into the fifties for a day. And yeah, Sunday will be even more, but that's kind of the, the warm surge that comes in with that southerly wind out ahead of that rain that's really coming in through the day on Sunday and temperatures end up near 60 kind of late in the day on Sunday and the wind will be picking up as well. So Sunday morning is ok. Overall, don't worry so much about the light shades of green you see here that really doesn't reach the ground. But during the afternoon there can be a few showers developing as early as the early afternoon hours. I'm not terribly concerned with that just yet. However, as we get into the evening hours after 7 to 8 o'clock in the evening, that's when the heavier rain starts to move in. And that's when the gust winds start to develop as well and that those winds will be on the order of around 30 to 40 MPH here across the lower Hudson Valley. Now overnight Sunday night into Monday, the worst of the rain starts to pivot off to our east. Yes, colder air is working in on the back side of the storm. A lot of times, computer models kind of overdue the winter weather aspect on the backside of a storm system like this. I think that that mix and snow will kind of dry out before it can impact the lower Hudson Valley. If anything at this point, I wouldn't rule out a few higher elevation snowflakes in orange Dutchess. Ulster County is mixing in. It wouldn't amount to anything on the ground though. But into the Monday morning commute, I expect improvements. There can be slippery spots. Still remember the wet leaves all over the place this time of the year. And the one thing you really need to make sure you're doing is securing those outdoor holiday decorations before we get to Sunday because look at these winds, we'll have some winds gusting again between 3040 MPH. There can even be a few isolated gusts briefly higher than that right at the Sound shore and Monday, the winds will come down but still breezy with those gusts around 20 to 25 MPH rainfall totals right now. 1 to 2 inches. I do want to mention though there are some indications that some of those rainfall totals could be a little bit higher. So we'll watch that into the weekend for you some mild worthy weather today. Dry weather overall, it's been a nice and seasonable feel all day temperatures getting back into the lower to middle thirties overnight and into early tomorrow tomorrow. A nice day before that storm comes in through about midday, Sunday and into early on Monday than the rest of next week at this point looks pretty good with a mix of sun and clouds and highs in the forties.

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Long Island

LI | Weather

LIFORECAST

We've got some rain coming this week. Ok, let's talk about it, Sunday and early Monday gonna be a wash. Let's talk about the nice weather too though today, tomorrow, no issues at all. Here's the rest of this evening. We're hitting mid forties as the sun sets and then briefly dropping into the thirties. But you notice that number at midnight it's actually a little bit warmer. So we do start to bounce back in temperature before you even get to Saturday morning. Today's highs top off close to 50 in Nassau County and there could be in few neighborhoods that do it and we've got sunshine. So pick of the week easy tonight. Again, these lows happen around midnight. There could be some frost, some patchy fog Saturday morning, but temperatures are bouncing up across the island. So actually by the time you wake up at 8 a.m. we're not in the thirties, we're in the mid forties and we're in the mid ff all afternoon. It's gonna be cloudy on Saturday, but these temperatures are quite mild, getting as warm as 57 degree in Riverhead and really not far behind anywhere on the island. Now, I want to take some time to really plan out your Sunday because it's going to be a bit of a wash. If you're out early in the morning, you should avoid any heavy rain. There could be light showers as early as nine in the morning for Nassau County. That rain will continue to push through during the late morning and early afternoon. This is at lunch time on Sunday. You know, the wind isn't really too bad here yet, but the wind will pick up with that second round of rain. So this first, there's actually just a surge of humidity coming in and then we catch a little bit of a break around dinner time. The rain should be more spotty. You see seven o'clock, there's not much but it is windy and then you move into the overnight hours and that cold front comes through and it really packs a punch around midnight. We could see wind gusts close to 50 MPH. And right now, the male guidance is actually keeping that front in place for the early Monday morning commute at 5 a.m. and then it clears it up at 8 a.m. The timing will definitely change. We're still looking at almost three days out. But what we do know is is that there will be plenty of rain and there will be gusty wind with this again. We're still not sure about where the heaviest rain will be. Right now. The Lagos Mogle guidance actually has the heaviest rain right over the island, which would mean two inches of rain. But we've seen that kind of go back and forth. It could be west of the city, it could be toward us. We do know the rest of the work week looks great though. So, enjoy that.

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Hudson Valley

HV | Weather

Connecticut

CT | Weather

CTFORECAST

Quiet now, but we are keeping an eye on some stormy weather here. Jonathan. Yeah, definitely for sure. As we head into the second half of your Sunday, we're gonna get into the time lining of it all in just a bit. Not all too bad for today. As you said, quiet numbers into the mid forties work with some sunshine for today. We unfortunately lose it as we head into your Saturday, which is gonna be a mild one. Here's look at your four o'clock hour. We're pushing forward into this afternoon. Numbers into the lower for it should be a quiet drive home as you're making your way along I 95 or the Merit Friday night. You got plans around 10 o'clock are looking pretty good, looking pretty quiet. Maybe you're finishing up a movie, just make sure you got the jacket as you're strolling through the car. Here's a look at your Saturday morning. Gotta walk the door, got some errands run. You. Not all too bad. Some spots are touching 50 close out toward orange and that's before even your noon period. Again, we're gonna deal with a nice southerly wind throughout the weekend. That's gonna help drive those temperatures into the lower fifties. But Saturday may be a day where you wanna maybe tie down the boat just I know you've been taking care of everyone's pearly whites here across Fairfield County. But, uh, listen, I know it's gonna be a mild day where you maybe want to get out on the water, but tie down the boat, make sure you got the holiday lights tied down, certainly around the house because we're really gonna deal with some strong gusty winds as we push forward into your sunny. And that's gonna be for all of us across the tri-state area. So maybe you wanna call some friends or family who are nearby and warn them the same we require for your Saturday night. We're staying mild. Remember, we're gonna see numbers well into the fifties and sixties for your Sunday. Unfortunately, we're gonna start to work with a few light showers late morning and then things ramp up heading into your afternoon. A little bit of a break. Mid-afternoon. They were gonna find a line of thunderstorms really impeding across our entire western Connecticut again, tri-state area as we're pushing forward closer to that midnight hour. And that's where we're gonna find things to be the worst. Just a little bit after that midnight, ar uh hour into the very early parts of your Monday morning. The commute is gonna be a bit tricky again. We're looking at about 2.5, maybe close to three inches of rain when things are all said and done and don't forget about the strong damaging winds gust upwards to 50 close to 60 MPH for some areas. And again, as we're fast forwarding, getting into your Monday, the warmest part of the day will be early on before we're gonna see chillier weather pushing forward into your Monday afternoon.

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Bronx

BX | Weather

0605BeWellMoneyMartyBankruptcies_2023-06-05-09-45-14

Money with Marty: Headline-grabbing bankruptcies

Time now for your money with Marty. And if you think about it, picture some of your favorite stores, some of them are disappearing according to S and P Global, more than 230 companies have filed for bankruptcy so far this year. And we're talking about some really high profile retailers, your bed bath and beyond your party city, Tuesday morning, David right now, analysts expect the default rate for with low credit quality to peak early next year. So this increase is most visible in these big companies, Marty. So what's going on? Well, the economy is undergoing some serious changes. It usually happens after, after a crisis and what's happening right now is that people are just running out of money, all the money that they were flushed with because of the stimulus programs. And, uh, you know, in the American rescue plan and things of that nature, they're all gone. And so now with the increase in food prices, the increase in energy cost, health care, all the essentials of life. So the discretionary spending which could be on a on party favors or you know, or or bridal dresses, things like that even though, if you're a bride, it's not, that's not discretionary. But the fact is those type of expenses are, are starting to be hurt, those luxuries, those extras because people are running out of money. Wages haven't kept up with inflation and inflation is a bigger part of our economy now than ever before. And so these companies which cater to, you know, to these discretionary spending can't make it. Also, consumers, habits are changing and what they're spending their money on. You know, it was interesting to me, one of the data points that came out just a few weeks ago, more companies filed for bankruptcy in a 48 hour period than any time since at least 2008. And you think about that time, that was a great recession. Well, two different kinds of recession. Yes. Remember the, in 2008, that was a housing recession. Yes. And that was built because of subprime loans. People got these home loans 2%. And then when the mortgage rates went up five or six, they couldn't flip the homes and they couldn't afford and the banks were failing because they were holding all these mortgages. And that's when the federal government had to put in close to a trillion dollars to bail people out. Different times. Just an example today, the national debt is 31 trillion and the gross domestic product is 25 25 trillion. Whereas back in 2009, the gross domestic product exceeded the national debt by two trillion. So we have a complete reversal of what the economy looks like. 2009, believe it or not, inflation was minus 20090.4%. Yeah, today is 5%. So we have a totally different economy. Today. This economy is built on government spending, government debt, too many dollars chasing too few goods, uh totally different, uh totally different uh uh time right now, this one is a financial in, uh, recession or inflation if you will, because it's impacted by what the federal, uh, is doing by increasing those interest rates, you know, 500 basis points in a year, which is a lot. That's a lot. Yes. All right. Let's take a look at some of those numbers here. So there were just about 16,200 bankruptcy filings among all types of companies in the US. And we take a look like by quarter 12,200 from a year earlier. So, I mean, you're looking at these numbers and you're really starting to see them, you know, take off. Well, understand bankruptcy is unfortunately part of the business cycle. Uh, you know, if a company who starts business today, uh, uh, it's unlikely that it will be around in uh two years. So, ok, we take a look at like just let's take party city for an example. This is non essential consumer items. Big company been around for a long time. What about the mom and pops that don't, you know, that don't have that kind of, you know, name recognition and, you know, so many people coming in. Yeah. And, and look, and a party city. I mean, you can go to so many different places to get your healing inflated balloons. Uh, it doesn't have to be a party city. You, you know, you can go to the dollar stores, you can go to any place. And so, so the specialty stores that, that will charge for service uh in their prices are losing out because people right now are very price conscious. That's why warm is doing better than target of the other places because Walmart is bringing in. You can, you can buy giant packages of food stuffs at Walmart for lower per unit prices than you can at target of the other places. So Walmart is doing better than, than the other retail stores. All right. Thank you so much Marty Shannon. Back to you.

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