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Marty Cantor talks about the bankruptcies and what it means for your wallet. 

New Jersey

NJ Weather Stories

Weather stories

NJ | Weather

NJFORECAST

Rizzo, at least for the most part, Mike. We're dry here again today. Yeah, we're dry here today and we're dry for the most part until the weekend, you know, Sunday night into Monday, maybe something's coming through. And I think it's more likely that something is by that time. But hey, we got a couple of days to work out the details and I promise by the end of the week, we'll have some more understanding of when it's coming and what exactly it is. But right now, I do know it's rain. So that's all I kind of know as we head into the weekend. So future cast for the term calls are just building clouds today. By 230 this afternoon, you'll see a deck of clouds across the state. It's actually not going to be a bad deal. Overnight. Clouds continue to pass through, maybe a rope sprinkled, but many of us will be sleeping when that happens by tomorrow morning, it's actually going to be cold, 35 degrees, passing clouds, some breaks of sun. Really. Not a bad day. Tomorrow, there's going to be some weak energy in the upper atmosphere that could spark a rogue flurry, maybe a Sprinkle. Warren, Morris Sussex counties. Not a big, most people probably not even going to see them, but there's that chance and more or less temperatures in the lower forties probably means that it's going to be rain or like a little Sprinkle. Right. Not rain but a Sprinkle. So, just be aware of that for Wednesday afternoon. I don't think it's going to be much of an issue. Breaks of sun, mostly cloudy out of, of things are just pretty steady and into Wednesday. Now come Thursday, there was going to be another piece of energy generally over the west is going to be over Pennsylvania mostly. But for us, we're just going to seeing temperatures in the low forties, breaks of sun, mostly cloudy conditions and South Jersey, uh that's Burlington County and South probably going to be dealing with a, a quick little like a Sprinkle or a shower as it had toward a Thursday night. Otherwise the rest of us are going to be dealing with quiet weather into Fridays. The sun emerges out and then as we get into the weekend, that's where we're going to be watching for Sunday. 10 day forecast highlights our temperatures kind of moving up into Friday and Saturday with sunshine temperatures in the fifties. If we take a look at Sunday, I do want you to note that there will be rain at some point on Sunday as a passing front comes through, it's gonna kick in some winds, it's gonna kick in some rain and this is likely going to happen toward the evening. Now, the good news is that it's not cold enough to support any kind of snow. Temperature is going to be near 56 degrees. So do keep in mind that it's likely just the rain as we head into the second half of the weekend and early next week looks windy, but temperatures come back down into the forties.

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Weather

Brooklyn

BK | Weather

BXFORECAST

Good stuff there. All right, let's get another check of the weather. Yeah, Alan's back and we're talking cold weather like we're probably used to doing in December. Right. A right. Right. So we're pretty much back to where we should be this time of year. And you think today is cold gets even colder into tomorrow. So, let's take a look. Let's fast forward 24 hours and what we're going to see our temperatures close to the freezing mark tomorrow morning, especially northern parts of our bro. So Riverdale and North Bay Chester close to that freezing mark and it's going to feel like a little bit below freezing. So definitely colder than this morning. 34 for sound, be 35 for throgs that not much of an improvement into the afternoon as we're going to see lots of cloud cover, keeping us on the cold side. So it's going to be a struggle to reach 40 degrees. I think most of us do that. But it's going to feel like the thirties all day long. So, back to that December kind of cold hour by hour, you can see most of the day we're in the thirties, maybe during that two o'clock hour, we do reach the 40 degree mark. Then things get a little bit interesting for Thursday. Notice clouds come right back in and look at the left side of the screen over there. That's right. That's snow. So for us it's just going to be cold, it's going to be about 39 degrees. Then look at that. A couple of snowflakes are pretty close to us here in the Bronx. Of course, this is still a couple of days out, but I can't rule out a couple of those snowflakes, but the forecast is definitely improving most of the day is going to be dry. So looking at Hanukkah as it is ushering in uh for sunset, the temperatures, they are going down from 39 degrees into the middle 30. So you definitely want to bundle up if you're going out and about 10 day forecast is going to show warm up goes really, really into overdrive this weekend. But so does the rain chance big storm system looks likelier and likelier when exactly on Sunday, we're figuring that out, but move those plans to Saturday. Good advice for everyone. Thank you, Alan. Well, getting rid of rats once and for all requires all.

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Westchester

WC | Weather

HVFORECAST

Are still available, two very opposite ends of the spectrum there between Santa Con and that performance. But both signs of the season for sure, Matt Hammer, as are the temperatures will be experiencing. And you said maybe possibly a snow flake or two today, right tomorrow and Thursday, really, it's really a dry day today. But tomorrow, an isolated flurry can be ruled out a better chance on Thursday. Nothing that's going to slow you down in terms of winter weather at all. But yeah, it could add to a festive look tomorrow and Thursday today, dry, but mostly into the afternoon. Highs right around 42 degree mark in Scarsdale this afternoon. And, and with the clouds overhead, those temperatures really won't change for several hours during the afternoon until after sunset just before 430. And that's when temperatures will start to drop towards the upper thirties and eventually it'll get a little bit colder overnight. Tonight, outside this morning, it was a nice start to the day. You can see high clouds already moving in and into the afternoon. It will become mostly cloudy. So here's the future cast a lot of gray by noon time it's chilly. It's mostly cloudy, but it's a decent day. Otherwise, as long as you're dressed appropriately, having the winter coat gloves and the hat even into the afternoon is not an awful idea. Overnight. Tonight, mostly cloudy, still chilly overnight. Lows mostly in the upper twenties to low thirties into early on Wednesday morning. And then tomorrow is going to be a mostly cloudy day in its entirety for Wednesday. Here you see a little blip of some white or blue popping up late morning into the afternoon tomorrow. That would be that isolated flurry chance most of the Hudson Valley does not even see that though increasing clouds today. Low forties in chilly colder overnight tonight, as you'd expect this time of the year for a nighttime lows around 29 in Newburgh for a hyperlocal temperature same in Poughkeepsie, about 33 in the city of Yonkers, close to 40 again tomorrow, if anything, a straight flurry, but most of the day is dry, can't rule out of flurry on Thursday as well near 40. Then temperatures warm up Friday into the weekend. Fifties starting on Saturday. It's the pick of the week there before some rain on Sunday, Monday through Thursday of next week, looking dry but chillier with highs back in the 40

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Long Island

LI | Weather

LIFORECAST

Some good tips there. Maybe you're gonna spend these next few nights inside with the family. It's gonna be cold out here. Yeah. You know, and, uh, we're gonna be looking at some colder conditions out there. December standards. It's not too bad, but a bit of a chill and some sunshine to start our day and going through the next couple of days, we do see a little bit colder weather. After what happened yesterday, temperatures around 50 to 55 A look outside Beth Page looking towards Hicksville. The sunshine is with us this morning but the clouds are coming in during the afternoon. Our friends around Corm today you're going to top out to a high of 44 at noon time. Yeah, that sunshine starting to fade by three o'clock. It's mostly cloudy through this evening and a temperature around 44 degrees for the high this evening. Coming home from school and work temperatures will start to drop down into the thirties. So it does get colder tomorrow morning, sunshine to start our day. You can see Nassau County s County. We're ok. Clouds are increasing. You will see a couple of weather features that will make it colder over the next couple of days. We have these weak little cold fronts coming our direction. What will happen is this afternoon with the clouds, temperatures only around 40 to 44. That's it. Then as we go to this evening, cloudy skies, the evening rush is dry. Temperatures, upper thirties to around 40 degrees for this evening. Going out to dinner, bundle up. Now into tomorrow morning, we get a reinforcing shot of cold air. Now tomorrow morning temperatures bottom out to around freezing. You see around 830 at the bus stop, temperatures are in the mid and upper thirties tomorrow afternoon, your Wednesday afternoon, high temperatures around 41 and notice this little green raindrop here out over the ocean, a little snow in the Hudson Valley. Slight chance on Wednesday of a passing rain or snow shower into the afternoon and evening hours of Wednesday's chance of a rain or snow shower. Very small chance, but the chance is there. Now Thursday morning, it's cold twenties to low thirties. And then during Thursday afternoon, it's going to be cold. Highs will struggle to around 40 can't rule out one or two flurries Thursday afternoon. And then heading into the weekend, here comes some of that rain with the warmer weather. So towards your Sunday clouds in the morning rain in the afternoon through the evening hours of Sunday gone by Monday. Highs today, near 44 sunshine goes to clouds, cold weather. Tonight. Lows are in the low thirties. The start of Hanukkah is dry and cold with a high of 40 on Thursday, 50 Friday, there's the rain over the weekend on Sunday into early Monday morning.

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Hudson Valley

HV | Weather

Connecticut

CT | Weather

CTFORECAST

We have a link on our website and they were delicious. Oh my gosh, it's so good. All right, our weather dry. That is good for the week, but it is cold. It is cold next couple days, a little bit chilly. So you do want to bundle up, layer up perhaps. And as we get into the weekend, first half, it looks good. I think this weekend is gonna be really similar to what we had just this past week and Saturday is gonna be the better of the two days before we have more rain in the mix to finish up the weekend dry for today though. 43 forecasted high. We should be more in the upper forties for this time of year and we're gonna gradually lose that sun heading into later on this afternoon. A lot of cloud cover by this afternoon as kids get ready to uh get off the bus 40 degrees for West 41 for us here across Norwalk as well as Bridgeport heading up to orange. And for tonight, we're still gonna remain mostly gray. We're gonna find those temperatures really dipping down a little bit chilly, chillier start. Excuse me for your tomorrow morning. And then really, once we work our way into your Thursday, that's where we're really gonna find the coldest air of the week. So here's a look at your Wednesday afternoon. Just do one mentioned that. Be that commute home. 456 o'clock could see a few snowflakes into the mix. Really? Watching back out across Westchester County. So if your commute takes you to or from there, uh for your tomorrow afternoon may have to watch for that. And again, for your tomorrow morning, here's look at your 10 o'clock hour for your, I'm sorry, your Thursday morning where again, it's gonna be the coldest start. A lot of spots will be in the lower thirties. It's gonna feel more like the twenties fast forward into the. And again, Saturday is looking pretty nice. Numbers are gonna be well into the fifties. We stay dry. We may even see some sunshine as we work our way into the first half of the weekend. But clouds fill in for your Sunday morning and then by your Sunday afternoon, we'll work with some light to steady rain and that intensity really picks up. We're also gonna watch for some wind driven rain as we could see some gust upwards to maybe 2530 MPH as we're wrapping up the weekend. Becky

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Bronx

BX | Weather

0605BeWellMoneyMartyBankruptcies_2023-06-05-09-45-14

Money with Marty: Headline-grabbing bankruptcies

Time now for your money with Marty. And if you think about it, picture some of your favorite stores, some of them are disappearing according to S and P Global, more than 230 companies have filed for bankruptcy so far this year. And we're talking about some really high profile retailers, your bed bath and beyond your party city, Tuesday morning, David right now, analysts expect the default rate for with low credit quality to peak early next year. So this increase is most visible in these big companies, Marty. So what's going on? Well, the economy is undergoing some serious changes. It usually happens after, after a crisis and what's happening right now is that people are just running out of money, all the money that they were flushed with because of the stimulus programs. And, uh, you know, in the American rescue plan and things of that nature, they're all gone. And so now with the increase in food prices, the increase in energy cost, health care, all the essentials of life. So the discretionary spending which could be on a on party favors or you know, or or bridal dresses, things like that even though, if you're a bride, it's not, that's not discretionary. But the fact is those type of expenses are, are starting to be hurt, those luxuries, those extras because people are running out of money. Wages haven't kept up with inflation and inflation is a bigger part of our economy now than ever before. And so these companies which cater to, you know, to these discretionary spending can't make it. Also, consumers, habits are changing and what they're spending their money on. You know, it was interesting to me, one of the data points that came out just a few weeks ago, more companies filed for bankruptcy in a 48 hour period than any time since at least 2008. And you think about that time, that was a great recession. Well, two different kinds of recession. Yes. Remember the, in 2008, that was a housing recession. Yes. And that was built because of subprime loans. People got these home loans 2%. And then when the mortgage rates went up five or six, they couldn't flip the homes and they couldn't afford and the banks were failing because they were holding all these mortgages. And that's when the federal government had to put in close to a trillion dollars to bail people out. Different times. Just an example today, the national debt is 31 trillion and the gross domestic product is 25 25 trillion. Whereas back in 2009, the gross domestic product exceeded the national debt by two trillion. So we have a complete reversal of what the economy looks like. 2009, believe it or not, inflation was minus 20090.4%. Yeah, today is 5%. So we have a totally different economy. Today. This economy is built on government spending, government debt, too many dollars chasing too few goods, uh totally different, uh totally different uh uh time right now, this one is a financial in, uh, recession or inflation if you will, because it's impacted by what the federal, uh, is doing by increasing those interest rates, you know, 500 basis points in a year, which is a lot. That's a lot. Yes. All right. Let's take a look at some of those numbers here. So there were just about 16,200 bankruptcy filings among all types of companies in the US. And we take a look like by quarter 12,200 from a year earlier. So, I mean, you're looking at these numbers and you're really starting to see them, you know, take off. Well, understand bankruptcy is unfortunately part of the business cycle. Uh, you know, if a company who starts business today, uh, uh, it's unlikely that it will be around in uh two years. So, ok, we take a look at like just let's take party city for an example. This is non essential consumer items. Big company been around for a long time. What about the mom and pops that don't, you know, that don't have that kind of, you know, name recognition and, you know, so many people coming in. Yeah. And, and look, and a party city. I mean, you can go to so many different places to get your healing inflated balloons. Uh, it doesn't have to be a party city. You, you know, you can go to the dollar stores, you can go to any place. And so, so the specialty stores that, that will charge for service uh in their prices are losing out because people right now are very price conscious. That's why warm is doing better than target of the other places because Walmart is bringing in. You can, you can buy giant packages of food stuffs at Walmart for lower per unit prices than you can at target of the other places. So Walmart is doing better than, than the other retail stores. All right. Thank you so much Marty Shannon. Back to you.

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