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SAN DIEGO (KGTV) -- The Del Mar Fairgrounds announced layoffs Thursday amid the coronavirus pandemic.According to the fairgrounds, staffing will be reduced by 58 percent due to a loss of revenue."Due to the COVID-19 pandemic and the subsequent ban on mass gatherings, the 22nd District Agricultural Association|Del Mar Fairgrounds (22nd DAA) has suffered severe financial losses to its income streams."The fairgrounds says since March, revenues have fallen by 66 percent "Combined with the postponement of the San Diego County Fair and no patrons for this year’s summer horse racing meet, revenues are estimated to be down 92 percent by the end of the summer."The fairgrounds will give employees 120 days of continued employement with an official layoff date of October 15.“It is with a heavy heart that we must make the difficult decision to reduce staffing at this time,” said Tim Fennell, CEO and General Manager of the Del Mar Fairgrounds. “Until it is safe to host events again, reducing our staffing levels is crucial to the survival of the Del Mar Fairgrounds. We must preserve this community treasure in order to continue its legacy for future generations as an economic engine for the region and a beloved entertainment and education destination. I look forward to the day when we can operate at full strength again.” 1334
SAN DIEGO (KGTV) — The Federal Reserve's decision to lower its key interest rate to near zero will help some San Diegans, but frustrate others.The Fed reduced its Federal Funds Rate to near zero for the first time since the Great Recession of 2008. The move, in reponse to the Coronavirus outbreak, will help keep auto loan rates low and mortgage rates near historic lows. It will also, however, lower earnings from interest bearing savings accounts. Greg McBride, chief financial analyst for Bankrate, predicted the economy to go into a recession, but said the low borrowing rates would help jump start spending once activity picks up again. "Coming out of that, one of the things that's going to give the economy a boost to recover from that will be these brutally low interest rates that entice consumers and businesses to resume borrowing and spending," McBride said. "Somebody concerned about losing their job is not going to go to go out and buy a car."Mortgage rates are already extremely low, with the average rate for a 30-year fixed is 3.36 percent. Still, that's above the all-time lows reached earlier this month, when the Federal Reserve made its first emergency cut. Mark Goldman, a loan officer for C2 Financial Corp., said there has been a rush to refinance since that earlier drop — a big reason why rates did not fall deeper."There's so much refinancing business going on right now that lenders can't stand a lot more business, so they price accordingly," Goldman said. Still, those mortgages rates will remain low as San Diego County enters what's typically its peak home buying season. 1613

SAN DIEGO (KGTV) — The four executive orders the president signed Saturday aimed at helping both working and unemployed Americans during the ongoing pandemic is not the most efficient way to help the nation, according to a local expert.Dr. Alan Gin, University of San Diego Professor of Economics at the Economics Research Center, said the national issue needs a national relief package, instead of an order that pulls from multiple pools, like the CARES Act and other emergency funds. Unfortunately, Congress is deadlocked in an ideals crisis.Dr. Gin said this order could delay funds for unemployed Americans because it complicates the process.News that frustrates people like Cindy Griffith who has been trying to get her benefits for five months.Griffith, a new mom to 17-month old Wilder, was laid off in March with her husband. They both worked in restaurants. "It's been a nightmare," she said. "I spent every day stressing about EDD, calling EDD." READ RELATED: EDD sends woman identity verification form with wrong social security numberShe made hundreds of phone calls to the Employment Development Department, reached out to every representative she could find and finally went to court. The judge ruled her paperwork was in order and she deserved her unemployment checks. That was three weeks ago and she hasn't seen a dime.Thankfully her husband's unemployment funds came through and supported them until they Solterra Winery and Kitchen hired them.When she heard about the president's Executive Order she didn't have much faith. "Spending five months fighting for my money, yeah it's great that that money will continue on if I do lose my job, yeah 0 a week will help, but I don't know if I'll see that money either so I'm just hoping my restaurant stays open."Twenty-five percent of the 0 a week for unemployed Americans is supposed to come from the state. In California, Dr. Gin says that's money we don't have, "tax revenues are down considerably with economic activity reduced, both the income tax and the sales tax." Dr. Gin added California has to have a balanced budget each year by law, but the federal government can borrow."Traditional macroeconomic theory says that should have a negative impact, whether on inflation or higher interest rates so far we haven't had either one," Dr. Gin said it could happen further down the road.The president if he is re-elected he would cut the payroll tax that funds the dwindling Social Security fund and Medicare.Dr. Gin said that is something Democrats and Republicans have been against, and "there's a question of whether or not the president can do that without congressional authorization."All of this affecting little Wilder's future, his parents still waiting and hoping for some financial relief."It wasn't until I got into my restaurant and could walk with cash every night you know? Besides that I'm just waiting so I'm still months behind. Yeah I'm just really lucky I was able to go back to work," Griffith said.She gave this advice to anyone suffering the same struggle she's facing, '"stay strong, hang in there and keep fighting for the money you deserve." 3147
SAN DIEGO (KGTV) — Teenage cancer survivors from Rady Chidlren's Hospital celebrated an "unforgettable" event.The annual Unforgettable Prom brought teens battling cancer out for a night of dancing and celebration — a night many of the teens miss at school while they continue to fight illness. Now in its 13th year, the dance has helped teens take a moment to celebrate that special night in every teenager's life. And everything is covered: From dresses and tuxedos to entertainment, food, and decor, thanks to volunteers and the Friends of Scott Foundation, a local non-profit that works to provide emotional and financial support for children with cancer and their families.This year's theme, Avengers "Age of Heroes," honors Ryan Wilcox, a former patient and Unforgettable Prom King, who lost hist battle with cancer. "Unforgettable Prom" was started by Carmen Delgadillo, founder of the Friends of Scott Foundation. Degadillo lost her teenage son, Scott, to Acute Lymphostic Leukemia. From that loss, Delgadillo started the foundation to help other families in need of support during their own battles with cancer. To learn more about the foundation, click here.10News reporter Mackenzie Maynard emceed this year's event at Liberty Station. 1253
SAN DIEGO (KGTV) — The Guinness Book of World Records' largest-ever bounce house will visit 27 U.S. cities this year, including two weekend stints in San Diego.The Big Bounce America tour will bring "The World's Largest Bounce House" to San Diego for two weekends Oct. 18-20 and 25-27. The massive inflatable castle stands 32-feet tall and covers 10,000-square-feet of space.Guests can hop into several different "zones " within the puffy castle walls, including an obstacle course, ball pit, basketball hoops, a giant slide, and more. There's also a VIP section that includes a DJ booth, dance floor, and VIP dome with nightclub lights and sounds.RELATED: Mission Beach Plunge pool reopening after years of vacancyGrahame Ferguson, co-founder of The Big Bounce America, told 10News in 2017 that the bounce house took 18 months to create.Tickets range from to and welcome family and adult-only sessions. San Diegans can sign up for alerts now for when tickets are available. 990
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