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General Electric is under such financial stress that new CEO Larry Culp is slashing the troubled conglomerate's 119-year-old dividend to just a penny a share.GE revealed on Tuesday worse-than-expected results and a billion accounting writedown for its beleaguered power division. Culp plans to split up the power division to accelerate a turnaround.The company also announced that the SEC and Justice Department are investigating the charge, which reflects the deterioration of businesses GE has acquired. The news adds to GE's mounting legal problems and helped send the stock to a nine-year low in volatile trading.In a bid to fix GE's debt-riddled balance sheet, Culp announced the company will cut its quarterly dividend from 12 cents a share starting in 2019. By paying just a token dividend, GE (GE) will save about .9 billion of cash per year.Analysts had been anticipating a potential dividend cut, though not one of this magnitude.It's an especially painful move for a company that long viewed its stable dividend as a source of pride. But years of bad decisions forced GE to halve its dividend last November for just the second time since the Great Depression. The dividend cuts deal a blow to the many GE retirees and mom-and-pop shareholders who long relied on the cherished payouts."We are on the right path to create a more focused portfolio and strengthen our balance sheet," Culp said in a statement.Culp, who was suddenly named CEO on October 1, acknowledged during a conference call "this is not a quarter that we're particularly proud of." 1572

Health officials in Santa Clara County, California, say that they have traced 94 cases of COVID-19 to a youth basketball tournament that took place illegally at a nearby indoor sports complex last month.According to CNN, Courtside Basketball Center in Rocklin, California — located northwest of Sacramento — hosted a "Fall Fest" tournament on Nov. 7 and 8 that featured several teams and dozens of players and coaches.On Friday, The Mercury News reported that a total of 94 cases of COVID-19 — including 77 in Santa Clara County alone — could be traced back to the tournament.The Mercury News says the outbreak includes 39 "middle- and high school players," three coaches and 35 additional contacts."This outbreak is a troubling reminder that the widespread prevalence of COVID-19 in our community threatens all of us, and does not limit itself to geographic boundaries," Santa Clara County's assistant public health officer, Dr. Monika Roy, said in a statement.The California Department of Public Health said in a release that is has opened an "enforcement investigation" into the tournament's operator.CNN reported last month that the Courtside Basketball Center's website included a note that urged anyone who was in attendance for the tournament to get tested for the virus, "regardless of whether they have symptoms."As of last month, CNN reports that the complex had hoped to host four more basketball tournaments by the end of the year. The center's website now says it is "closed until further notice."Santa Clara County — which is located south of San Francisco and is home to the city of San Jose — has among the strictest COVID-19 restrictions in the country. The county has banned most contact sports at all levels — youth, college and professional — and the restrictions have forced the San Francisco 49ers to move two home games to Arizona."Public Health orders, directives, and guidance around contact sports and sporting events are in place for a reason. The risk of transmission in these settings can easily result in community spread that threatens the most vulnerable among us," Roy said. 2115

Grocery chain Kroger announced Tuesday that is plans to hire 1,000 people to administer coronavirus vaccines at the chain’s 2,200 pharmacies and 220 clinics.Kroger’s vaccine program launches this week in the state of Alaska as health care workers in Anchorage and Juneau will be vaccinated by Kroger staff. Kroger says that it is working with state and federal officials to vaccinate others in prioritized populations, such as health care workers, and those living and working in assisted living facilities.Kroger is not the only major company to assist in administering vaccines. CVS and Walgreens began administering vaccines to those living and working in assisted living facilities this week.“Kroger Health is a COVID-19 response leader that has provided our patients, associates and other businesses with diagnostic testing tools and supporting resources since the onset of this public health crisis,” said Colleen Lindholz, Kroger Health’s president. “Kroger Health’s experienced health care providers remain committed to helping our patients and associates live healthier lives. The size and scale of our health care operation provides us with the unique ability to efficiently facilitate COVID-19 testing and immunize a large portion of the U.S. population, once the authorized vaccines become more widely available.”There have been two coronavirus vaccines authorized by the FDA.Moderna’s vaccine has been hailed as a medical breakthrough. The vaccine has been considered 94.1% effective against the virus. According to Moderna, none of the thousands who were given two shots of the vaccine had severe COVID-19 symptoms. That is compared to 30 patients who were given a placebo who had symptoms.Pfizer’s vaccine has an effectiveness of 95%. It too comes in two shots.Those wishing to apply to assist in administering vaccines, click here. 1855

Hillary Clinton admits that she made a series of mistakes during the 2016 election in her newly released memoir, conceding that she did not fully understand the American electorate and failed to muster the anger that many voters wanted to see.The book is full of Clinton focusing blame elsewhere, but in raw terms -- and with more directness than at any point since Election Day -- the former Democratic nominee admits that she made catastrophic mistakes during the campaign that led to her loss."I've tried to learn from my own mistakes," she writes in her author's note. "There are plenty, as you'll see in this book, and they are mine and mine alone." 662

HILLSBOROUGH COUNTY, Fla. — A Tampa strip club is suing a child sex trafficking victim — the latest development in a court battle involving the club where the victim says she was trafficked. Now the victim's mother is speaking out for the first time.Scores Gentleman's Club filed a countersuit in mid-July against the child sex trafficking victim, referred to in court documents as Jane Doe. The strip club's response comes six months after Jane Doe sued the business, accusing the club of hiring and exploiting her when she was 17 years old.The victim's mother, who was granted anonymity to protect her daughter's identity, says she's shocked the club took legal action against her daughter."I was disgusted and saddened, and I still can't believe it," the victim's mother said.The victim's lawsuit, filed in January, accuses the club of exploiting a minor with mental disabilities, stating she "was repeatedly touched, groped, molested and propositioned to engage in prostitution with explicit sex acts being proposed.""She was dancing, to her recollection of 15 to 30 minutes of her being hired there," the victim's mother said. "There are things she's experienced that she will never get over she has bad dreams, she has PTSD, she can't sleep at night."Luke Lirot, the attorney for Score's Gentlemen's Club, defended his decision to countersue Jane Doe for damages."She was absolutely competent enough to trick the people that work at my client's club," Lirot said.In the countersuit, the club says Jane Doe tricked them into hiring her by using a fake ID. It states she had "...full knowledge that the presentation of a fake ID was fraudulent and untrue, thus making an intentional misrepresentation."Lirot said the countersuit is the only way to get to the truth."To find this out sufficiently and to hold the people responsible that had deceived my clients, this was the only option I had," Lirot said.Jane Doe's attorney Michael Dolce said he plans to file a motion to dismiss the countersuit in Hillsborough County Court."You cannot legally blame a child abuse victim for their own abuse," Dolce said.Dolce filed the original case against the club. It states Jane Doe was brought to the club in 2017 by Robert Torres.According to court documents, employees at the club introduced her to drugs and alcohol. Police later arrested Torres for trafficking and he pled guilty to lesser charges in the case.Scores is also suing Torres for intentional misrepresentation.As for the victim, her mother says she's still in therapy.This story was originally published by Jackie Callaway on WFTS in Tampa, Florida. 2618