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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

Home Depot and Lowe's are lending a helping hand to the next generation of construction workers. Right now there are about 158,000 unfilled construction jobs in the U.S and both home improvement stores plan on training thousands of people for free.Home Depot announced it is committing million to skilled trades training to those who need it the most. It is bringing shop class back for the next ten years. The trade skills are for jobs like plumbers, electricians and carpenters just to name a few.The training program at Home Depot will be offered to veterans and underserved high schoolers nationwide, and you don't have to work for Home Depot.As for Lowe's, its training program is called “Track to the Trades” and it’s for current employees.The program will offer employees financial assistance to pursue certifications for trade skills and receive additional academic coaching. Plus, it will help people get full-time positions at Lowe’s if they want to stick around.If you’re looking for a part-time job right now, Lowe's and Home Depot are currently hiring more than 130,000 people this spring. 1124

Good morning. This is the 12/07 update for the #BondFire incident. Firefighters now have 60% containment around the 7,375 acre fire. There is a Red Flag Warning for the fire area now through 10 p.m. Tuesday. We still have 1,489 personnel working the incident. @OCSheriff pic.twitter.com/h320PeB2oW— OCFA PIO (@OCFA_PIO) December 7, 2020 344

GLENDALE, AZ — It's official: The San Francisco 49ers will play their next two home games in Arizona after local COVID-19 restrictions prevented them from playing at their home field."The San Francisco 49ers have come to an agreement with the National Football League and Arizona Cardinals which allows the 49ers to host their Weeks 13 and 14 home games against the Buffalo Bills and Washington Football Team at State Farm Stadium in Arizona," the 49ers said Monday in a statement.Over the weekend, California's Santa Clara County announced a number of new COVID-19 restrictions, which banned all sports — professional, collegiate, and youth — and required people to quarantine for two weeks if they traveled 150 miles away.Levi's Stadium, home to the 49ers, is located in Santa Clara County."The Cardinals organization, State Farm Stadium and League officials have been supportive and accommodating as we work through the many logistical issues involved in relocating NFL games," the Arizona Cardinals said in a statement.The Cardinals will host the Los Angeles Rams at State Farm Stadium on Sunday, Dec. 6. Previously, the team announced that no fans aside from a limited number of staff and players' families would be allowed inside the stadium.The 49ers will host the Buffalo Bills in Arizona on Monday, Dec. 7, and will then host the Washington Football Team there on Dec. 13.This story was originally published by KNXV in Phoenix, Arizona. 1453

Heavy rain, pounding surf and flash floods hit parts of the Florida Panhandle and the Alabama coast on Tuesday as Hurricane Sally lumbered toward land at a painfully slow pace, threatening as much as 30 inches (76 centimeters) of rain and dangerous, historic flooding.The storm’s center churned offshore 65 miles (105 kilometers) south-southeast of Mobile, Alabama, as Sally crept north-northeast toward an expected Wednesday landfall at 2 mph (3 kph), according to the National Hurricane Center. The forecast map showed the center likely coming ashore in Alabama, near the Florida line.Hurricane force winds extended 40 miles (65 kilometers). Rain fell sideways and began covering roads in Pensacola, Florida, and Mobile. More than 80,000 power customers were without electricity, according to poweroutage.us .Up to a foot (more than 30 centimeters) of rain had fallen already on the coast by Tuesday night and Sally’s lumbering pace meant there would likely be extended deluges.“A hurricane moving at 2 mph is stalled for all intents and purposes,” said Brian McNoldy, a hurricane researcher at the University of Miami. “If they aren’t moving along and they just kind of sit there, you’re going to get a ridiculous amount of rain.”Sally strengthened late Tuesday, with sustained winds reaching 90 mph (145 kph). Winds had reached 100 mph (161 kph) on Monday. The National Hurricane Center expected Sally to remain a Category 1 hurricane when it comes ashore, adding “historic life-threatening flash flooding is likely.”By Tuesday night, hurricane warnings stretched from coastal Mississippi to the Florida Panhandle. There also was a threat the storm could spawn tornadoes and dump isolated rain accumulations of 30 inches (76 centimeters) in spots from the Florida Panhandle to southeast Mississippi.Heavy rain and surf pounded the barrier island of Navarre Beach, Florida, on Tuesday and road signs wobbled in the wind. Rebecca Studstill, who lives inland, was wary of getting stuck on the island, saying police close bridges once the wind and water get too high. “Just hunkering down would probably be the best thing for folks out here,” she said.Two large casino boats broke loose Tuesday from a dock where they were undergoing construction work in Bayou La Batre, Alabama. M.J. Bosarge, who lives near the shipyard, said at least one of the riverboats had done considerable damage to the dock.“You really want to get them secured because with wind and rain like this, the water is constantly rising,” Bosarge said.In Orange Beach, Alabama, towering waves crashed onshore as Crystal Smith and her young daughter, Taylor, watched before nightfall. They drove more than an hour to take in the sight.“It’s beautiful, I love it,” Crystal Smith said amid whipping wind. “But they are high. Hardly any of the beach isn’t covered.”Capt. Michael Thomas, an Orange Beach fishing guide, secured boats and made other last-minute preparations. He estimated up to 5 inches (13 centimeters) of rain had fallen in as many hours.“I’m as prepared as I can be,” Thomas said.Stacy Stewart, a hurricane center senior specialist, warned that floods could be deadly.“This is going to be historic flooding along with the historic rainfall,” Stewart said. “If people live near rivers, small streams and creeks, they need to evacuate and go somewhere else.”Forecasters warned that Sally could unleash flooding similar to what Hurricane Harvey inflicted in 2017 in swamping the Houston metropolitan area.Mississippi Gov. Tate Reeves urged people in the southern part of the state to prepare for the potential for flash flooding. He said about 120 people were in shelters in Mississippi.As rain grew heavier Tuesday, many businesses appeared to be closed at exits along the Interstate 10 highway running along the Gulf Coast from Louisiana to Florida.In Gulfport, Mississippi, white plastic bags hung over some gas station pumps that were out of fuel. Along a bayou inland from the Gulf, three shrimp boats were tied up as shrimpers tried to protect their boats from waves. Metal storm shutters or plywood covered the windows of many businesses.In Alabama, officials closed the causeway to Dauphin Island and the commuter tunnel that runs beneath the Mobile River.Alabama Gov. Kay Ivey urged residents near Mobile Bay and low-lying areas near rivers to evacuate if conditions still permitted a safe escape. Revised forecasts late Tuesday predicted that storm surge along Alabama’s coast could reach 6 feet (1.8 meters) at Dauphin Island and as much as 4 feet (1.2 meters) at Mobile Bay.“This is not worth risking your life,” Ivey said.Once ashore, Sally was forecast to cause flash floods and minor to moderate river flooding across inland portions of Mississippi, Alabama, northern Georgia and the western Carolinas over ensuing days.President Donald Trump issued emergency declarations for parts of Louisiana, Mississippi and Alabama on Monday, and tweeted that residents should listen to state and local leaders.On the barrier island of Pensacola Beach, Florida, the Sandshaker Lounge was open Tuesday afternoon, filled with about 30 locals and tourists staying at nearby hotels.“I think I’m the only business open,” said bartender Kyra Smith. She said most locals have lived in the area for decades and have weathered many storms bigger than Sally.“We’re just going to ride it out,” she said.___Wang reported from Pascagoula, Mississippi. Associated Press reporters Jeff Martin in Marietta, Georgia; Russ Bynum in Savannah, Georgia; Sophia Tulp in Atlanta; Tamara Lush in St. Petersburg, Florida; Rebecca Santana in New Orleans; Emily Wagster Pettus in Jackson, Mississippi and Kim Chandler in Montgomery, Alabama, contributed to this report.Full Coverage: Hurricanes 5758