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Only richest 20% of Americans still have excess pandemic savings

Published Fri, 07 Feb 2025 22:27:57 GMT

By Alex Tanzi, Bloomberg NewsAmericans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances.For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year than they were in March 2020, after adjustment for inflation.All income groups have seen their balances decline in real terms from a peak in 2021, according to the Fed survey. But among the wealthiest one-fifth of households, cash savings are still about 8% above their level when COVID-19 hit. By contrast, the poorest two-fifths of Americans have seen an 8% drop in that period. And the next 40% — a group that roughly corresponds with the U.S. middle class — saw their cash savings drop below pre-pandemic levels in the last quarter.The figures point to dwindling firepower available for U.S. consumers, whose resilience has kept the ...

John ‘Zip’ Connolly’s medical parole continued over objection of Florida prosecutor, brother of victim

Published Fri, 07 Feb 2025 22:27:57 GMT

John “Zip” Connolly, the disgraced former FBI handler of slain Southie mobster James “Whitey” Bulger, had his medical parole continued today — with a prosecutor and brother of a victim ripping the board’s decision.The Florida Commission on Offender Review voted 2-1 to allow Connolly to remain at home in Massachusetts — even as he recovers from his supposed terminal illness.Both a prosecutor and Steve Davis, brother of Debra Davis brutally murdered by the Bulger gang, called out the decision after a commissioner said Connolly is “actually taking walks outside” back home here in the Bay State.“It’s not right. It’s corrupt. It’s frustrating,” said Steve Davis today via phone during the long parole board hearing. “That piece of garbage! … I just can’t believe the state of Florida.”His sister, Debra Davis, was reportedly a victim of the Bulger gang. She was killed in 1981, but juro...

Michelle Deal-Zimmerman: A guide to the Baltimore Orioles for dummies | STAFF COMMENTARY

Published Fri, 07 Feb 2025 22:27:57 GMT

We’ve arrived at bandwagon season, and everyone is an Orioles fan. That includes me — a person not at all known for their expert analysis of sportsball.Doesn’t matter because in my house we are now firmly entrenched in Birdlandia. My husband Todd has made room for me on the couch as he alternates between yelling at the TV and answering my questions about the ins and outs of the game.If you, like me, are just setting eyes on MASN or Oriole Park but are determined to catch up on everything you’ve missed about Baltimore’s home team, here’s a guide to the Orioles for dummies.Why are they called The Birds? The team shares the name of Maryland’s state bird, the Baltimore oriole, which has glorious plumes of orange and black.What’s this rebuild thing? In 2018, after a skunk of a season, the Orioles decided to overhaul the franchise — electing to trade seasoned players in favor of up-and-comers for a “rebuild.” So they cut do...

What does it cost to build a fire pit?

Published Fri, 07 Feb 2025 22:27:57 GMT

By Sean Jackson, Bankrate.comThey constantly rank among the top requested design features on American Society of Landscape Architecture surveys. Among outdoor decor renovations, “fire features” (fire pits and fireplaces) were among the top: Purchases of them rose 18 percent in 2022, according to the “2023 Houzz & Home Study.”Affordability may be part of the fire pit’s appeal. The average cost of building a fire pit is around $850, within a range between $200 and $3,000. Of course, there are multiple factors influencing costs such as materials used, the size of the fire pit, and any add-ons.Let’s gaze into the fire pit, examining the costs, the kinds available, and whether you should do it yourself or rely on pros for the job.Types of fire pitsShopping for fire pits opens a world with tons of possibilities. Here’s a breakdown of some of the more popular types and some considerations for each.Off-the-shelf fire pitsSome fire pits come ready to use straight out of the box. Basicall...

Bill O’Brien responds to Cowboys’ claim Patriots will interrogate ex-QB for intel

Published Fri, 07 Feb 2025 22:27:57 GMT

Do the Patriots have an advantage against the Cowboys this weekend because they have two of their recent ex-players on their roster?The Cowboys seem to think so.The Patriots, of course, signed Ezekiel Elliott prior to this season after the running back spent the first seven seasons of his career with the Cowboys. Then, last week, they signed quarterback Will Grier to be on their practice squad after he was in the Cowboys system for parts of the last three seasons.With the Patriots set to visit Dallas this weekend, Cowboys offensive coordinator Brian Schottenheimer claimed on Tuesday that he thinks those ex-players will be “interrogated” by New England coaches as they game plan this week in order to gain intel.“Those are things that we monitor every week, but certainly Will knows where a lot of the bones are buried. Zeke obviously does as well,” Schottenheimer told reporters. “Those are things that you talk about, and you think about, ‘OK, let’s adjust this one.’ We certainly have mo...

Amazon sued by FTC and 17 states over allegations it inflates online prices and overcharges sellers

Published Fri, 07 Feb 2025 22:27:57 GMT

By HALELUYA HADERO (AP Business Writer)Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition. The lawsuit, filed Tuesday in U.S. District Court for the Western District of Washington, is the result of a years-long investigation into Amazon’s businesses and one of the most significant legal challenges brought against the company in its nearly 30-year history. According to a news release sent by the agency, the Federal Trade Commission and states that joined the lawsuit are asking the court to issue a permanent injunction court that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its “monopolistic control to restore competition.” They allege the company engages in anti-competitive practices through anti-discounting measures that deter sellers from offering lower prices for products...

Sen. Booker says fellow New Jersey Democrat Menendez should resign over ‘shocking’ bribe allegations

Published Fri, 07 Feb 2025 22:27:57 GMT

By MARY CLARE JALONICK (Associated Press)WASHINGTON (AP) — Democratic Sen. Cory Booker is calling on Sen. Bob Menendez to resign, saying in a statement that the federal bribery charges unveiled on Friday against his fellow New Jersey Democrat contain ”shocking allegations of corruption and specific, disturbing details of wrongdoing.” Booker’s statement came Tuesday as a growing number of Democratic senators — at least 11 so far — are calling for the three-term senator to step aside. He has firmly rejected that idea. Menendez, former chairman of the powerful Senate Foreign Relations Committee, and his wife Nadine were indicted on Friday, accused of using his position to aid the authoritarian government of Egypt and to pressure federal prosecutors to drop a case against a friend. The three-count indictment says they were paid bribes — gold bars, a luxury car and cash — by three New Jersey businessmen in exchange for corrupt acts.Menendez...

Judge dismisses charges against Philadelphia police officer in fatal traffic-stop shooting

Published Fri, 07 Feb 2025 22:27:57 GMT

PHILADELPHIA (AP) — A judge dismissed all charges, including a murder count, against a Philadelphia police officer who shot and killed a driver who had a knife, agreeing with defense lawyers who said the officer could have feared for his life.The municipal judge ruled after a courtroom packed with police and relatives of Eddie Irizarry watched about 20 minutes of harrowing video of the brief traffic stop that led to the death of 27-year-old. The defense argued that Officer Mark Dial acted in self-defense when he fired his weapon at close range through the rolled-up driver’s side window of Irizarry’s sedan on Aug. 14.Dial’s partner, Officer Michael Morris, testified that he saw the driver holding a knife with a black metal handle that could have looked like a gun. He said Irizarry was holding the knife against his leg and started to raise it as Dial approached the car, which had stopped the wrong way on a one-way residential street.“I screamed that he had a knife,” Morris testi...

Helicopter crashes in central B.C., multiple people on board: RCMP

Published Fri, 07 Feb 2025 22:27:57 GMT

PRINCE GEORGE, B.C. — A helicopter has crashed in a forested area east of Prince George, B.C., with multiple people on board, RCMP say. Cpl. Jennifer Cooper with the Prince George RCMP said Tuesday emergency crews have gathered at the site where the chopper went down near Purden Ski Hill off Highway 16. She said the extent of the injuries to those on board is not known, and the area around the crash site has no cellphone coverage. “It is possible that emergency crews will be accessing the highway frequently and we are asking that motorists slow down and move over to give crews room to complete whatever work they need out there,” Cooper said in an interview. “It is going to be a little bit of a challenge for emergency crews. It was in a more forested area that the helicopter crashed, so not easily accessible by emergency vehicles.”Mounties say the call came in just before 8 a.m. Cooper said they don’t know why the helicopter was in the area, but they kno...

Striking Hollywood actors vote to authorize new walkout against video game makers

Published Fri, 07 Feb 2025 22:27:57 GMT

LOS ANGELES (AP) — Striking actors have voted to expand their walkout to include the lucrative video game market, a step that could put new pressure on Hollywood studios to make a deal with the performers who provide voices and stunts for games.The Screen Actors Guild-American Federation of Radio and Television Artists announced the move late Monday, saying that 98% of its members voted to go on strike against video game companies if ongoing negotiations are not successful. The announcement came ahead of more talks planned for Tuesday.Acting in video games can include a variety of roles, from voice performances to motion capture work as well as stunts. Video game actors went on strike in 2016 in a work stoppage that lasted nearly a year.Some of the same issues are at play in the video game negotiations as in the broader actors strike that has shut down Hollywood for months, including wages, safety measures and protections on the use of artificial intelligence. The companies involved...