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SAN DIEGO (KGTV): Wall Street set a record last week for the longest "Bull" run in US Stock Market history, topping 3,400 days of growth. Now, financial experts are saying it won't last forever and advising clients to prepare for a downturn."You have to expect at some point, we're due," says Dennis Brewster of SagePoint Financial. "I think everybody's almost forgotten, look at earlier in the year, how sharp the markets broke back in February. So it wouldn't be unusual to see any of those declines coming up later this year or early next year."Brewster says he doesn't expect anything as drastic as 2008, but he still says investors should take a few steps to safeguard their earnings and even make the downturn work in your favor.A lot of it, he says, depends on how close you are to retirement."When you look at the year to year returns, they're all over the board. When you look at the 20-30 year returns they're very close," says Brewster. "If you're younger and have 20-30 year horizons, the day to day gyrations are almost noise to you. But if you're getting closer to retirement or in retirement, then you have to be more careful."'Brewster looked up numbers from the S&P 500 for the last 20 years. He says someone who invested ,000 in 1998 would have lost about ,300 after the crash in 2008. But if they kept their money in until 2018, that same ,000 investment would now be worth more than ,000.He says older investors should be more conservative with their portfolios. Younger investors should increase how much they invest if the market falls, to take advantage of lower prices.As for when the correction could come, Brewster says it's too tough to predict. But he says to watch out for "triggering" events that could rattle the market, some of which may already be happening. Things like trade wars or the Federal Reserve spiking interest rates could be the kind of thing to end the Bull Run."It always goes higher than you think and lower than you think," he says. "You can't ignore it, and you try not to get swallowed by it." 2072
SAN DIEGO (KGTV)- This Christmas local chefs and volunteers gave the gift of gourmet meals for those in need. It was a two day process. “Just Call Us” Volunteers prepared the food, from scratch, before serving it to the homeless. The volunteers made enough to feed over 400 people. Early this afternoon, the chefs and volunteers delivered the food to three different shelters. The largest being the Alpha Project tent, in Downtown. “We all appreciate it. They all deserve a good meal,” says a staff member with the Alpha Project. Over a dozen volunteers donated their time at the Alpha Project. More volunteers visited Rachel’s Women’s Shelter and San Diego Center for Children. All of the items are donated from Specialty Produce, Cupcakes Squared and Sprouts Farmers Market. Just Call Us Volunteers gives back to those in need year around. They encourage everyone to come spread a little cheer throughout the year. 925
SAN DIEGO (KGTV/CNS) – San Diego City Council Monday passed a proposal that bans Styrofoam and single-use plastics in a 5-3 vote. In July, the City Council Rules Committee voted 3-2 in favor of prohibiting the use and sale of containers and other items made with Styrofoam.The measure, proposed by Councilman Chris Ward, prohibits the use and sale of egg cartons, food service containers, coolers, ice chests, pool or beach toys, mooring buoys and navigation markers made partially or completely of polystyrene foam, commonly called by the brand name Styrofoam.The city's Environmental Services Department must also provide a list of safe, affordable alternatives to polystyrene products should the ban go into effect.Polystyrene products don't degrade the way more natural products do, taking hundreds of years to break down. Because of this long life span, marine and terrestrial fauna can and do mistake polystyrene for food."Our growing reliance on disposable plastic to fuel our ‘culture of convenience' is not without cost. Globally, an average of eight million tons of plastic ends up in the ocean," said Roger Kube, a policy adviser with the 5 Gyres Institute, when Ward introduced the proposal in May. "Once there, sunlight and currents shred plastic debris into smaller particles called microplastics, which absorb and concentrate toxic chemicals up the marine food chain and into our bodies. From plankton to fish, and to humans that eat seafood, plastic pollution is changing the very chemistry of life."Opponents of the ban claim it will have a disproportionately negative effect on local restaurants who may not be able to afford more expensive alternatives to polystyrene containers the way larger chain restaurants can. A study by the California Restaurant Association, San Diego Chapter, found that the ban could force small food service businesses to spend up to 145 percent more for polystyrene alternatives like compostable paper."We're opposed to the ban because polystyrene is a recyclable product," said Chris Duggan, the San Diego chapter's director of local government affairs. Duggan compared polystyrene's potential for reuse to that of an empty pizza box or a used paper plate and noted that polystyrene can be and is recycled into things like crown molding.Restaurant owners in City Council District 4, represented by Myrtle Cole, pushed back on the proposal Friday when they delivered more than 50 letters opposing the ban to Cole's district office. Restaurant owners in District 4 claim that Cole has not met with them despite multiple requests to voice their concerns."The impacts of Styrofoam and single-use plastics are permanent and threaten the health of San Diegans, wildlife, and industries critical to our region," Ward's office said. "Passing this ordinance puts us in line with other California cities on the issue to secure a safe, sustainable future for our marine environment, our children and their families." 2977
SAN DIEGO (KGTV)- Two years ago the Norton Sound was docked in San Diego Bay and burned for several days. Now, San Diego is hiring an outside consultant to look into the cargo fire. San Diego Fire gave 10News a statement Friday. They didn’t offer specifics about what the consultant might recommend, but say the focus is to determine if any additional equipment or training is needed when dealing with emergencies on the bay. Back in 2017, Harbor Police told 10News, “It was to my understanding that the furthest a firefighter made it was 6 feet before they started getting pushed about the fire.” Looking back, even businesses remember how horrible the smoke was over the days the fire burned, “People stopped sitting outside and employees complained about it affecting their health.” says Edgewater Grill assistant manager, Sergio Velasco. While the smoke bellowed out of the ship for nearly a week, no one was injured and the fire stayed contained and didn’t spread to any other structures. The city tells 10News the study is being done by Citygate and should be complete in the fall of 2019. 1104
SAN DIEGO (KGTV) -San Diego is expecting the most powerful Santa Ana winds of the season this week. The winds are expected to pick up late Tuesday into Thursday. Cal Fire is urging residents not to let their guard down, but cautions, this is not the time to start clearing defensible space. "This week we really want people to tap the brakes on going out and clearing their property, we don't want them to start the next fire trying to do the right thing, the wrong way, at the wrong time, so please don't clear your property this week, focus on having an evacuation plan so you can get your family members, pets and livestock out when the need arises," said Captain Thomas Shoots, Public Information Officer for Cal Fire San Diego.RELATED: Check 10News Pinpoint Weather ConditionsFirefighters from San Diego, Chula Vista, Coronado, Imperial Beach, and Cal Fire are helping to fight the fires in Sonoma County and the Getty Fire in Los Angeles. Still, Shoots said there is no strain on local resources. "We know that a lot of times, this time of year, we'll have multiple major events happen at the same time, so we can send out plenty of resources and still be staffed up in San Diego so we are watching that very closely and we want to make sure that if anything takes off here we have plenty of resources to draw from," said Captain Shoots. Crews are able to monitor all the fire activity across the state from the command center at the Cal Fire Headquarters in Rancho San Diego. "Regionally, we're looking pretty good, we're fortunate that both fires that we had on Friday we were able to jump on it, put a ton of resources on it, and we were able to stop those before they became major incidents," said Captain Shoots. According to Shoots, this has been a mild fire season compared to last year. "We continue to see fires this year, but most people haven't heard about a lot of the fires that we've had because we've been able to keep them small. With Cal Fire, our goal is to keep 95% of the fires at 10 acres or less, and we've been fortunate with that this year because the conditions have been milder," said Shoots. Right now, Cal Fire crews are working seven-day shifts, instead of the standard three."We've been pretty lucky with the fire activity around the state has been pretty light. Most other years, we've been hit pretty hard, and we start to get worn down this time of year, but 2019 has been relatively good to us. Our guys are pretty fresh, and they're ready to do their job." 2507