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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

HIGHLAND, Calif. (AP) — Southern California authorities say a man who came to the rescue of people in a burning mobile home was found dead in the wreckage.The fire erupted early Saturday morning in the Highland area of San Bernardino County.Cal Fire says arriving firefighters found four occupants had been evacuated from the mobile home but the rescuer perished.The county coroner's office says the body was found in the debris after the flames were extinguished.The coroner's office did not immediately identify the victim, but family members told KTLA-TV he was 25-year-old Albert Madrid.His sister, Melissa Enriquez, says her brother chose to go in and help, and she hopes he is remembered for that. 711

HEALDSBURG, Calif. (AP) — Wildfire has been cruel to Northern California wine country lately. Major fires during three of the past four years have charred vineyards, burned down a historic winery and sent plumes of smoke above the neatly tended rows of vines that roll across the scenic hills. While the majority of vineyards, winemaking facilities and tasting rooms that lure tourists have escaped damage, the perception that the area is on fire yet again has not helped business. The LNU Lightning Complex, which includes the Hennessey, Gamble, 15-10, Spanish, Markley, 13-4, 11-16, and Walbridge fires, had burned at least 375,209 acres. Over the last 12 days, the fires have torn through Napa, Sonoma, and Solano counties. As of Sunday, the blaze was 56% contained.Add restrictions on winery tastings and dining during the coronavirus pandemic and winemakers say they are reeling. 892

GREENCASTLE Ind. -- After students at DePauw University used her event as a place to protest recent racial discrimination on their campus, Jenna Fischer has promised to donate all the money she made from the event to groups fighting discrimination. Fischer shared a message on Twitter Wednesday saying she was "shocked and upset" to hear the things that were happening on the DePauw campus. WATCH | Protesters interrupt DePauw?president during press?conference"I could feel the pain, sadness, and fear coming from these students," Fischer wrote. "No student should feel at risk, or have to suffer the kinds of bigotry and hate these students have encountered. These students need to be heard and they need change." 738

Have you ever poured yourself a drink and browsed online, only to find a package at your door days later? Well, you’re not alone, according to a new survey.According to the personal finance website Finder.com, nearly half of Americans surveyed earlier this year said they’d made a purchase while under the influence.The survey found the average American spent 7.57 while drunk shopping. That total is up from the 2017 average, which was about half of that amount.So, what are drunk shoppers buying? Besides food, the top items are shoes and clothes.The survey found a quarter of people also like to gamble while drunk.The good news—there are apps that can stop you from drunk shopping. Crome browser extensions like Focus Me and Freedom allow users to block certain websites for a certain amount of time. The apps also allow you to set a spending limit, so you don’t wake up with a financial hangover.   919