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New research shows more people 65 years old and older are filing for bankruptcy instead of retiring. The biggest cause of bankruptcies, according to a recent CNBC report, are medical bills. “Insurance, no matter what kind of insurance one has, typically only goes so far," says bankruptcy judge William J. Lafferty. "And when one has to actually start paying for those expenses, they rack up very quickly. It’s an immediate game changer for most families.”Another large factor is losing a job. 527
NEW YORK (AP) — J.C. Penney says it is closing 154 stores nationwide in what it is calling the first phase of its efforts to shrink its footprint. According to USA Today, the retailer received bankruptcy court approval on Thursday to begin liquidation sales at stores that are permanently closing. The Plano, Texas-based retailer said it could take about 10 to 16 weeks to complete the closures. “While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer of JCPenney in a press release. “I am incredibly grateful to our talented associates for their ongoing dedication and their passion for meeting and exceeding our customers’ expectations during this difficult and uncertain time. All impacted associates will be treated with the utmost consideration and respect.”Penney filed for bankruptcy protection last month, making it the biggest retailer to do since the coronavirus pandemic forced non-essential stores to be shut down temporarily. As part of its bankruptcy reorganization, Penney said it planned to permanently close nearly a third of its 846 stores in the next two years. That would leave it with just over 600 locations. 1431
New heart health research found that taking a low-dose daily aspirin to cut chances of a heart attack or stroke may have risks that outweigh the benefits.The latest studies revealed the effects of the blood-thinning, anti-inflammatory drug on patients, who did not yet develop heart disease or other heart-related issues but were at moderate risk.Research found aspirin does help patients with diabetes, who are at higher risk to develop or die from heart problems. However, the risk of serious bleeding far outweighed the benefit of taking the drug.The study found aspirin was not effective in preventing heart attacks or strokes for moderate risk patients, because they had other health issues, including high blood pressure, high cholesterol and smoking.Doctors also cautioned using fish oil supplements, instead of aspirin, would have similar disappointing results. Instead, health professionals suggest eating fish to improve your heart’s health.Fish oil may be more beneficial for people who have already suffered a heart attack. 1043
NEW YORK (AP) — "The Magic School Bus" has traveled everywhere from Pluto to inside the human body. Now it's going somewhere new: the big screen. Scholastic Entertainment said Thursday that it will make "a feature-length, live-action hybrid film" based on the animated TV show that ran from 1994 to 1997. Elizabeth Banks will play the manic science teacher Ms. Frizzle. "The Magic School Bus," adapted from a series of books written by Joanna Cole and illustrated by Bruce Degen, centers on a group of school children who board a yellow school bus for field trips to such unlikely places as outer space or the human digestive system. 641
NEW YORK – A New York City police officer was among the several people arrested in connection to a drug trafficking bust, officials announced Monday.NYPD officer Amaury Abreu and two other men, Julia Bautista and Gustavo Valerio, are accused of conspiring to import and distribute cocaine.The three men were allegedly members of a multinational drug trafficking organization with distributors in the New York area and the Dominican Republic between January 2016 and October 2020.Bautista, 35, and Valerio, 38, were high-ranking members of the organization based in New York and were responsible for distributing and overseeing the distribution of cocaine once it was in New York, according to the federal complaint.Abreu, 34, allegedly used his position as a police officer and provided information about law enforcement procedures, performing warrant checks on DTO members, on at least one instance, distributed cocaine for the group.Officials said Abreu pleaded not guilty to the charges and was released on a million bond with home detention as a condition of the bond.Two other men face changes in connection to the bust. Cesar Diaz-Bautista, 43, faces charges of possession with the intent to distribute cocaine, while Junior Ortiz, 29, faces charges of cocaine importation conspiracy.Ortiz was released on a 0,000 bond and Diaz-Bautista will be released on a 0,000 bond, officials said.The other two defendants had not yet been arraigned Monday.Since 2016, law enforcement agents have seized more than 350 kilograms of cocaine belonging to the DTO.“This criminal network allegedly trafficked more than 350 kilos of cocaine and was assisted by an NYPD officer, who used his knowledge and access to help them stay one step ahead of the law,” stated District Attorney Madeline Singas.“There is no place for corruption in the NYPD and it will always be prosecuted fully. We commend our IAB investigators and law enforcement partners in this case,” said Police Commissioner Dermot Shea said in a statement.Abreu has been suspended without pay, according to an NYPD spokesperson.This story was originally published by Kristine Garcia at WPIX. 2159
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