tv KRON 4 Morning News KRON August 4, 2011 7:00am-10:00am PDT
on the job of the government is losing about $30 million a day as an uncollected airline taxes since the shutdown. 30 million loss a day and the flap is over 16 million in with funding. if this is not resolved until congress gets back from its august recess, the total revenue loss will be about $1.2 billion. the congressional fight over the faa is having a real effect on the bay area. jackie sissel is live at oakland international to explain. they are starting to feel it at oakland international airport. the air traffic control tower that is supposed to be done in march of 2012 is not being worked on. is this 60 construction workers and engineers from private contract income they have been working on this for months are not working at all because of the faa shut down. it is costing $30 million
a day, 40 million employees. 60 of them work on this project. this is a $31 million project at the oakland international airport that was supposed to be done by 2012. part of the problem is that every day that this is shut down they get further and further behind. the rainy season is coming into construction crews say they cannot work through that. that will set everything back. you start to really see the effects of the shutdown when you see the construction workers not being able to work. the project is being pushed back and these people are not being paid while the shutdown is in effect. new this morning, was originally thought to be a hostage situation in the sunnyvale neighborhood last night is resolved. it turned out to be a false alarm. for a time last night in was tense. the swat team was called out to the 100 block of rock still evident. a
man said he was afraid his relatives were being held hostage in their home. officers called the residence several times before reaching them around midnight. when they got to the home bid to determine the children were saved. there is a massive turkey recalled. federal officials say they are still trying to identify the sources that has killed one person and killed 76 people across the 36 million lbs. of been recalled. these are the brand names and has been sold under and the places. the one person who died was from sacramento.
all ground turkey production has been suspended at one of their plans until the company can determine the reason for the outbreak. >> here is a look at the weather. a big difference. someone just slammed the door shut on summer. it is cool out there. walnut creek is always so lucky. >> sun shine on the road surface, walnut creek starting to see a break in the cloud cover but it will be slow going. it is such an intense marine layer. while the creek is one of the first locations to see some sunshine this morning. they will be one of our warm response. most of our inland or east bay valley as well. 81 in antioch, 78 in concord and 77 in livermore. quite a bit cooler today than we were yesterday. keep that in mind as you make your outdoor plants. take a quick look at the satellite, the fog is breaking up over the
peninsula but fairly widespread. ha whether whethe fall will puld 2:00 p.m.. we will be a touch cooler today than yesterday. by midnight the package becomes widespread begaagain. here are your tempere is right now. not much variation. by this afternoon, this is what the temperature spread will look like. drizzle
will be part of the mix this morning and tomorrow. warming up beginning next week. let's get a check on traffic. >> good morning. a great ride in the bay area this morning as you head out of the door. we have no hot spots to concern yourself with. it isn't easy unusual right for interstate 580 through the altemont, the nimitz freeway south through the milpitas corridor, 101 threw sand as a from the coyote valley all the way up suzanne clear up a good ride. let's start the project at the toll plaza. we had a minor delay is about 30 minutes ago.
your ride on the san mateo bridge has been a good one. the volume is building a bit on the westbound commute on the right side of your screen. the golden gate bridge, 101 looks good. light traffic heading across the span. there are no delays from end to end. we will take a quick break and be right back with more. ha
earthquake. the damage and flooding was just from the glancing blow. the storm was hundreds of miles of shore. winds of 50 mi. per hour, it is expected to move over haiti in eastern cuba. here is a pass from the national hurricane center, it comes off the coast of florida as we head toward saturday and sunday. quite a show lightning over the skies in atlanta in the early morning hours. thunder in heavy rain blew through in about an hour. there was a blinding heavy rain and flooding during the morning commute. in alabama, check out the lightning storm that sparked a fire. it destroyed a church in athens. >> we have quite a cool down
today. >> below clouds and fog blanketing the area.. clouds, fog and drizzle. this afternoon, partly cloudy and cool. inland highs in the upper seventies for the majority of the bay. mostly upper 70's and this evening was the fog burns off it will rebuild again. 13 mi. per hour winds in redwood city. a dusty, breezy day. earlier we had a wind advisory on the bay bridge.
do not be surprised if the wind picks up throughout the day. temperatures right now are slowly warming. the fog is set to pull back by 9:00 p.m.. by 2:00 p.m. and should be confined to the coastline. that will give the bay area is little chance to warm widespread by midnight. this is how the temperature is should breakdown. here is where the
next seven days will take the weather. whemonday-wednesday of next week will finally start to warm things up. let's check on the commute. >> it is an easy ride around the area right now. we are not looking at much in the way of slow traffic. there are no hot spots to contend with and the bridges are a smooth ride. take a look at the bay bridge. even with a when the advisory there are no backups or delays. incident free on the bay bridge all morning long. in the 5:00 a.m. hour, a vehicle had the hood of the car blown up and the windshield broke. we watched
traffic slowed from the start right at about the middle of the east parking lot and then no back up. it appears to be slowing again. your ride on the san mateo bridge is a problem free. here is look westward towards the high-rise. a 13 minute drive time across the span. the golden gate bridge is a problem free from marin county. the volume is up a bit, there are no delays across the span. no reports of problems with public transit. >> 7:20 a.m.. we want to talk about the markets. the dow was down 204 points at the last check. >> david callaway is editor in chief of market watch, he is on the phone with us. concerns about italy and spain, is that a big part of it? >> that is some part of it.
there is some reports that belgium is looking weaker and they are doing studies. what is happening is that the markets are looking at a recession in the u.s. markets later this year or early next year. the market is now down about 215. it is a really weak. if you look at any charts or tables, this is bad news all around. it will be a rocky august. >> yesterday, a bit of a surprise. as a lot of people said it was computer trainer trading. >> it is clear that once the market rose everyone sold into it. we are down about 8% or 9%. once we get to the 10 per cent level which probably be later
today or tomorrow, we are an official correction territory. we have not been there for more than a year. we have some very bad news coming up later this year. >> who is making money during this time? >> people owned and gold are the only ones doing well. gold is at record levels. it is going to hit $17 an ounce. those are the people that have been dismissed as crackpots for thinking the world was coming to an end. it is a terrible market for people who have money in savings accounts and are not getting any interest rates. the economy is weak. >> just when you thought it was
>> virginia tech is saying that the gun man is on campus. they are telling students to stay indoors. he was reported near a dining center. back in 2007 a student gunman killed 32 students and faculty members before killing himself. things are a little tense. more of dates and about four minutes on kron 4.
>> a wildfire burning in mendocino county. so far 800 a. have been scorched. the fire is 25 percent contained. they are hoping they can have is surrounded by saturday. the fire grew quickly because of the dry conditions. there are about 400 firefighters battling the blaze. they have been called in to help. no homes are being threatened. a quick break as the kron 4 morning news continues. the latest on top stories right after the break. here is a light blue -- is a live look from a fog the san francisco. whoa!! the really big chicken sandwich combo is back!
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possibly this month. we are also watching wall street. the dow was down 183 points, the new jobless numbers are out and the financial crisis in europe, 36 million lbs. of turkey meat is being recalled because of possible salmonella contamination. one person has died in the sacramento area and more than 60 across the nation have gotten sick. we want to look of those stories and deaths in just a moment of first, a quick check on weather. >> a live look on the james lick freeway. this guy is hazy and obscured by fog. a good bit of the bay area, we have a pretty decent marine layer that is a point to make today much cooler than yesterday. tomorrow, slightly warmer. this weekend we are still on tap for sunny skies and mild temperatures. a detailed look at today's
forecast in your 70 in just a minute. >> a look at the bay bridge. a bit of a rebound after a half an hour with no back up at the toll plaza. this will only cause a minute or two for the westbound ride. we are still incident free for the bay bridge. we still have a wind advisory in place but have not seen the effects of it in some time. >> we have breaking news into the kron 4 news on. virginia tech has reported a good man on campus. the university issued an alert on there website saying that the gunman was reported near a dining center. the dining hall is steps away from the dorm or the first shooting stick place in 2007 that left 33 people dead. three juveniles
reported seeing a man with a handgun. a tense situation as there are reports of the gun man on campus. >> president obama is urging congress and a partial shutdown of the faa. it began nearly two weeks ago over the dispute on whether to cut 16 million to rural airport funding. they're arguing about 16 million total of the government is losing 30 million a day. 4000 faa employees have been furloughed. her the air traffic controllers and safety inspectors have remained on the job but if you
tally with the government is losing everyday, is this is not resolved the lost revenue will total about $1.2 billion in this argument over 60 million. >> thousands of workers have been affected. 60 of them are right here in the oakland airport. the control tower is well under way in the construction process. there were hoping to get some of the wiring done in the next couple weeks. the hold was this project would be done in march of 2012, the
contractor says that timetable is being pushed back by the minute every day they are not working on it. the faa shutdown is being felt. >> another developing story, federal health officials say that they are still trying to figure out the source of the salmonella contamination that has killed one person in california and made 76 people sick across the nation. the technique is being recalled. health officials say if you have the turkey meat in your freezer you should get rid of it. the person who died was from the sacramento area. keep in
mind there are ground turkey products that are still safety there is one prominent company and not being told to pull their product. >> 6 million lbs. makes this one of the biggest me recalls in history. i found plenty of jenny oh ground turkey. the usda has not contacted them. there brand is the cdc is saying even contaminated ground turkey could be even as long as it is heated to 165 degrees fahrenheit.
the cooler side today. here is where we expect them to go. still in the east bay, livermore, the upper eighties or low 90s. " downtown san francisco coming in and the low 60s and mostly cloudy for a majority of the day. here is your 7 day forecast. afternoon temperatures in the upper 80s. that is sure whether of. >> a great ride around the bay area. we do not have any hot spots. the ride is good and
quiet. on the san mateo bridge, a problem free. there are no problems on the span or the approach or as you exit the bridge and headed towards the 101-92 interchange. there will be no delays across the golden gate bridge southbound. >> a developing story that we are following, police are searching for a man suspected of exposing himself in the san mateo county parking lot. here
is a sketch of the man they're looking for expose himself to a woman and her toddler knees. this happened in a parking lot in el camino royale. driving a late 1990's a four-door sedan with a dark blue or green exterior. he parked his car near the 20 year-old woman and the two year-old girl, he stepped out of the car and then expose himself. a hispanic man in his '40's and '50's and about 6 ft. tall. >> here is a live look outside. the dow is diving. that is one of the big stories we're following. fi
tech near the dining hall area, it is near the to the dining hall. that is where the gun man has been reported. it is a three story dining facility not too far away from where the deadly mass shootings were back into balance 7. the university has issued an alert posted on its web site telling students and employees to stay inside and secure their doors. at this moment virginia tech is on lock down because of possible gunmen on campus. the kron 4 morning news will be right back. fahey
>> a rod is going to be back in florida. there were all of these questions about his poker playing, it was illegal. >> you are single and make 30 million a year. these guys want action. they do not want to go home and read a good book. >> he is being investigated by major-league baseball. it exposes a lot that goes on among the rich and >> i heard that ben affleck lost forever thousand and one hand. >> to the producer guy, toby
mcgwire is married to his daughter. like his boring, they have so much money. >> i am going to say it again, if you have kids waiting for you at home, there might be a tendency to say, grow up, but if you are a. you know what it is? perhaps they do not want anyone to think that guys in baseball are gambling. then you might recall money to someone and they ask you to throw a game or something. >> i could see that ha .
>> it is illegal have these poker games. if >> there was an nba player who is then he does not think there is going to be a >> with the nfl lockout, everyone it was making money, they just one of the players to make a little less. in the nba, david stern, that is the guy on the right, that is billy hunter, the union rep, he will tell you 22 of the 30 teams are losing money. if the team is losing money and they do not open their doors, that is able less painful. you want to restructure. the nfl guys are making money hand over fist. if you miss a paycheck, you say wait a minute! when you are losing money, you
can close the door in hoped for a better day. we already know that the players are planning to go overseas. >> fans should be planning with they should be doing instead of watching basketball. >> college basketball. once a professional started taking players after their freshman years, the good players have gone away at college basketball has suffered. off the top of my head, football is a religion, people would miss that. basketball, as much as i love it, hooki think life would go o. football on sunday, but basketball during the week, you can find some bills. >> i would turn to hockey. >> lt. high tower. do you remember him? i did not realize it was an oakland raider. >> for a short time. a >> a couple of years. for two
seasons. >> the colts is where he really made his >> he passed away at 66. a really nice guy. box he was not just a baby, a dumb guy. that is how a lot of guys are pigeonholed. he wanted to be an actor. i remember talking about that. he said, i can steady all i want, but the only thing they will hire me for is walking into a bar in the beating someone up or be a big camps. >> he had a great comedic role as a police officer in the police
[singing happy birthday] >> jennifer hudson singing happy birthday to the president at a fund-raiser yesterday. today is actually his fiftieth birthday. he is going to celebrate this afternoon with his senior staff and tonight he is going to be with friends and family including some who came in from his hometown of chicago. the president was talking and joking about his great year. and just
for the study about when they are in the white house people age faster. when you're in the white house is aging it actually two years. i think even more. the president making light of that. >> keeping my eyes on what is hot on the internet. gq magazine just released a list of the top 15 worst dressed men in silicon valley. it looks like mark zuckerberg from facebook to the top spot. this is not the first on the space-bar founder has been targeted for a lot of personal style. january 2nd its 20100 on the worst dressed list for esquire. i have posted the complete list on my facebook fan page. >> we will be right back as the kron 4 morning news continues. all eyes are on wall street. the dow is down to under 41 points. ñ
>> breaking news, a gunman has been reported on the campus of the virginia tech. since the university has issued an alert on there website. stay inside and secure their stores. the campus is under lock out right now. since -- the campus is under a lock down right now. the gunman was reported to be found near each recalled. the hall is steps away from the dorm or the first shootings happened back in april of three juveniles who were attending a camp reported seeing a man holding what may have been a handgun. the guy had it covered while he was on campus.
the fbi along with campus and local police are looking for a man who is 6 ft. tall, white with light brown here. virginia tech could possibly be holding a press conference live any moment. we could provide you with new information. again, a gunman has been reported on the campus of virginia tech. more updates in a minute. >> another big story on wall street, a huge drop for the embassy as the dow jones industrial average is down to end 1/4% off 268 points. the weekly unemployment numbers show 400,000 americans filed for unemployment last week and fresh concerns about italy, spain and belgium possibly
needing a bailout from the european union. the dow, nasdaq and s&p are all negative for the year. we will continue to all the latest on wall street and to bring in new information to our of the day. >> another developing story, president obama is urging congress to end of a partial shutdown of the faa. it started about two weeks ago because of an ongoing debate on whether to cut $60 million from rural airports funding. they are arguing over $16 million. as you look of the facts, keep that in mind. go down list. the government is losing $30 million a day because of an argument over $16 air traffic controllers and safety inspectors have remained
on the job. if you add that 30 million a day in uncollected ticket taxes since the shutdown started, if congress does not resolve this until after it gets back to its august recess in september, the government will have lost a total of about $1.2 billion in an argument over $16 million. jackie sissel is at oakland international working on the new control -- work on the new control tower there is at a standstill. cuisines like a crazy and ridiculous fight that is costing us. >> it really is starting to cost us. in fact the control tower has been under construction for quite awhile. they have the framework of. they were hoping to start on the interior wiring.
that has been put on hold. 60 construction workers and engineers from a private contract and company are all furloughed. there are not working into the are not being paid as this goes on. this is a $31 million project. there were hoping that this would be done by march 2012. that is being pushed back for every day there are now working on >> we are starting to feel the effects of the shutdown right here in the bay area. >> we are waiting to see what happens. if they go on a break and it did not do it, this will not be solved until early september. >> a massive ground turkey meat recall to tell you about. federal health officials are still trying to identify the source of salmonella contamination that has killed one person and sickened 76
others. cargill is recalling turkey needs that may be contaminated. 36 million lbs. of it. the meat was sold under these brands and at these markets. the person died from the salmonella was from the san francisco area. the to berkeley grads that were held on espionage charges in a run could soon be released. shane our and jobs for hall could be let go in the near future. there is a feeling that it could be freed
during this holy month of ramadan. there are arrested in july 2009 while hiking near the a-rod and rock >> now on to bay area weather. it is a little dusty out there. sfo is showing a 12 m.p.h. winds. concord and fairfield, 20 and 21 mi. per hour sustained winds. expect gusts stronger than that. the ball will be pulling back to the coast by 2:00 p.m.. that is a good two hours when it normally would. the sun will not as bad as much time to warmus up. -- the sun will not get as much time to
warm us up. by midnight the fog will be bay area wide once >> we are not going to get any warmer than '70s and '80s on the inland. a good 10 degrees cooler than yesterday. we will slowly rebuild our numbers but it will not be until the middle of next week that we are closer to average for this time of year. let's get a check on your commute. how does traffic? >> it has been doing very well this morning. at the bridge as we continue to be hot spot free. let's take a look at the bay bridge and the westbound ride. you will see how light it is. from time to time we have seen a
bit of a slowdown from about the middle of the east parking lot but for the better part of the morning we have been absolutely delay free for the upper deck of the bridge. we have been hot spot free e and we have a wind advisory in place that has not created any problems for the heart of the commute. the san mateo bridge looks good. on the golden gate bridge, 101 looks good coming in from marin county. here is just seen in the newsroom. >> a gunman has been reported on the campus of virginia tech. we have a live press conference from the university right now, let's listen in.
>> is anyone in custody or being questioned? any suspects? we understand a couple people have been questions. >> there have been people who were stopped and questioned. we have not found a person matching the description that was given. no one is in custody. >> we heard that the suspect ran towards the volleyball courts. >> that reporters parsley
different agencies. >> all of the agencies that i mentioned earlier are patrolling campus. >> we are being diligent. >> there were some juveniles, somewhere in the area of 14 years old, they sought a person with what they thought was a gun. that is really all of the inflation that we have at this we have a lot of the campus and given them every piece of information that the police have. thought
>> after our initial work we issued a subsequent color they gave the description of the mail that the teenagers fall. a white male, light brown hair. they said what they thought was the weapon was covered by a cloth of some sort and walking fast in the direction of the volleyball courts wearing a blue shorts and white striped shirt, gray sandals. no facial hair or
>> people expect and want to know exactly what is happening. that is the world live in today. we have to communicate first investigator. >> we are listening live to a press conference in virginia tech were there were talking about the report of the gunmen on campus, not that the gunmen actually pointed the gun at someone but that kids are at a summer camp there and saw someone, a white male, 6 ft. tall who was carrying what they thought was a gun. the campus
>> the dow, nasdaq and s&p are all negative right now. >> they are extending the decline we have seen over the last couple of days. europe is doing little to alleviate concern. >> possibility of italy and spain and needing a bailout. talk about the strength of the dollar and what that does to the market. dollar moving up, it is moving up in part because the japanese are intervening in buying dollars to prop up the exchange rate against their currencies. the dollar also benefiting from what we call a safe haven bid. investors are moving account of the u.s. and other currencies sachs spheres safe -- masters are moving out of other
currencies like the hero. >> talk about the importance of the monthly jobs report for july. how big of a difference will make and market? >> we're looking for an increase somewhere between 50,100 thousand workers. that along with the unemployment rate stuck apple pie and 1.2% will reinforce the view that the economy is struggling to regain momentum. i would not say we are about to fall into a recession by any means, but the effort to pull ourselves out of that near flooding in the first half of the year, i think the difficulty will be underscored by
100,000 >> we would like to see investors come in and take >> happened yesterday? the dow was down 160 points in the fast rebound with the end of the day's trading with the dow ended up 29. what was the jump. >> there is a lot of uncertainty in the market. we have sons bottom fishing as investors move in, covering of some positions and providing support. >> the volatility index is on
the rise. will things will austin? >> we will see swings amidst all this uncertainty. as the creditworthiness of some of the european economies and the outlook on the deficit to which near, i do not think anyone was dissatisfied with the compromise. between that and concern about the economy, it is leading to a lot of fear and loathing in the market. the thing that will continue to be reflected. hopefully things will settle as the economy begins to improve. >> will keep our eyes on wall street as the dow was down 2 to 29. -- 229. >> san francisco is great and a
lot cooler today. >> nor agree on the right, ha we will show you mt. tam. in the immediate bay, clouds, fog and drizzle. temperatures in the '50s. partly cloudy and cool this afternoon. in the sun is only warming to the mid-copper 70's for a good bit of debate. -- mid-upper 70's for a good bit of debate. the winds have really picked up over the last hour. " they will be a very -- today will be a very breezy
day. the fog will not pull back until 2:00 p.m. and then rebuild, 5:00 p.m. or 6:00 p.m.. you have only a small window of opportunity for the sun to start heating to get orders to where they should be this time of year, that will not happen. we will be well below that. we are 2-10 degrees than we were yesterday. it we should be in the '90s. as we look at the 7 day forecast, we will hold on to the mild weather as we head into the weekend. fifth unseasonably cool. we will take a quick break and back with more in a moment.
>> some of the dow is now down to $11.60 of 14. we will follow the latest market headlines and iraq as a kron 4 morning news continues. iraq as a kron 4 morning news continues. freshly seasoned and slow grilled by real cooks. just wait until you try this kentucky grilled chicken. it's that good. today tastes so good.
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what experts, virginia. this happened to near dietrich dining hall that is not the far away from were the first shootings took place back in april to down seven. if the university issued an alert on its web site telling students and employees to stay inside and to secure their doors. hot and the police chief said the three kids that were interviewed at seems pretty credible. at this moment virginia tech is still under lock down fact because of the gunmen reported on campus. gil >> is a look at some other stories we're following. we're getting word that a hiker's detained in iran may be released
possibly this month. we are also watching wall street. we have seen the numbers plummet this morning. a big drop due to the jobless numbers and the financial crisis in europe.0 36 million lbs. of ground turkey is being recalled because of possible salmonella contamination. one person nationwide has died. " 70 have been made sick. >> we are following the battle in washington over the faa. president obama is urging congress to end of a partial shutdown of the faa that began two weeks ago because of an ongoing fight on whether or not to cut $16 million worth of funding to rural airports. already, 4000 faa employees have been formallfurloughed. more tho construction projects have been halted and an estimated 70,000 private sector workers are affected. the air traffic controllers and safety inspectors are still on the job
as they are considered essential personnel. the government is losing $30 million a day in and uncollected airline ticket tax because the faa cannot officially collected because congress has not authorize them to operate. if the issues not resolved until september when congress comes back from recess, the lost revenue will be about $1.2 billion. >> in another developing story, health officials are still trying to identify the source of the salmonella contamination that has killed one person in california and made at least 76 people across the nation's sick. cargill is recalling its me. they are afraid it is contaminated. they're recalling 36 million lbs. is sold under different brand names. look at the screen and see if you have any of this turkey. if you do, you should throw it away. to the
person who died was from the sacramento area. cargo says that all ground turkey production at one of its will tran has more from one company who was not told people their products. >> 36 million lbs. makes this one of the biggest meat recalls the history. if you insist on using turkey there are still some places the confined it. in the lucky store in hayward i found plenty of jenny 0 ground turkey. the usda has not contacted them, so there brand is safe. health officials claim, believe it or not, you can still eat contaminated turkey safely as long as you could get to one of 65 degrees
>> which are continuing to watch the markets. the dow jones is down 275 points. 11,621. and the s&p is down 2.65% and the nasdaq is down 76 as it stands. all three are negative for the year. just a short time ago we spoke with david calloway about the markets. he said it is going to be a rough month. >> if you look at any charts and tables, it is just bad news all around. it will be a rocky
august. >> another developing story, police are looking for a man who is reported to have exposed himself and his then until parking lot. it happened on monday. he exposed himself to a woman and her toddler in the parking lot in the 3500 block of south el camino royale. this happens on monday. he was driving a late 90s model four- door sedan with a dark blue or green exterior. he parked his
car near the 28 year-old woman and the two year-old girl. when they stepped out of the car we are back with more than a couple of minutes. we have a lot of developing and breaking news. we are following the markets. the doubt islamic team. we are also following reports for on the campus of virginia tech where there is a lock down right now. there are reports of someone carrying a gun on the campus. more news stories and a couple of minutes.
near the campus hall of virginia tech. an alert went out to students and staff members. juvenile that were there for summer camp saw a man with what looked like a gun. the university has issued an alert on its web site telling students and employees to stay inside. we just had a press conference where we got some new information. let's listen in. >> 3 juveniles attended camp of the university reported say a white male, 6 ft. tall with brown hair outside of these residents hall holding a man of a handgun. they say the handgun was covered by cloth box of some sort. he was walking in the direction of the volleyball courts are wearing a blue shirt with wide vertical stripes, gray shorts and a brown sandals. he had no facial hair or glasses. again, san officers responded immediately to the scene. the
six juveniles were subsequently interviewed. that is all we know at this >> those three campers have been interviewed. they have deemed that the information to give to campus police is credible. as of now, there are no suspects in custody. we will follow the story right here on kron 4 and we're back with an update in 15 minutes. >> we have crossed the 300 mark. the dow jones industrial dropped down to 316.. the snb has dropped over 3 percent. it is hitting correction levels. s&p is now down 10% off of its
the dow is at 11,587. we started the year at 11,671. we are back above the 300 mark. a volatile session we are following. concerns about european debt and a strengthening dollar because of some moves made in japan. those factors are really getting into the fall plus poor economic news coming out this week regarding manufacturing and personal spending. many are now talking about a double-dip recession. yeah >> as did the dow was off 160. we saw a lot of investors come in. we ended up closing of 29
yesterday. it will be tough to come back from this with the dow back down her over 300 points. >> we will keep our eyes on those numbers. political look at our temperatures. >> those numbers are also falling. here's a quick look from mt. tam. the marine layer is awfully strong. overcast conditions to san francisco and other peninsula and north bay locations. fog, clouds and drizzle. that was there forever with this morning. this afternoon is going to be cool, partly cloudy and cooler than yesterday. yesterday we were solidly in the '80s. today, and 70's will be as warm as it will get. this evening after the fall pulled that will come back to the overnight hours. as we scan
the east bay and south bay, 60 degrees is a dominant temperature. fairfield, concord, mountain view, fremont, san jose, all of those locations so temperatures 60 degrees or warmer. still cooler in the north. upper 50s there. this afternoon at 3:00 p.m. or coolest temperatures along the coast. the fall will linger there the longest period mainly seven days throughout most of the day with a few spots like brentwood and antioch, maybe los gatos and morgan hill coming in right at 80 degrees. mid-upper 70's is what you should expect for the afternoon today. here is your 7 day forecast. relatively mild for at least until next monday. mild with morning fog and drizzle for the next few
days. product >> we talk about conditions on the nimitz freeway as a possible hot spot out of san leandro and to downtown oakland. there was an accident oakland. the drive times did not get much over 2-3 minutes over the normal commute time of 23 the accident has now been cleared. as look at the toll plaza to the bay bridge, although wind advisory has not been removed from the bay bridge, we have not had any problems reported with high winds for some time in the west of direction. look the next, your ride on the san mateo bridge, it is still a very good commute. no advisories are issued for highway 92. the golden gate bridge ride is still an easy one from marin county. the inbound commuters is still reasonably light. no delays
northbound even with two lanes available. >> the time is 8:40 a.m.. we are following developing, breaking news at virginia tech. there is a live shot of the campus, they are and locks down right now after three kids at a summer camp say that they saw a man holding what looked like a gun. the curve very concerned on the campus, everyone is under lock down. regular school is not in session or full of students as it was in 2007 when the massacre on campus left 33 dead. this is something we are falling. they're trying to confirm or to and see if there is a done. we will be right back. bonn
concerns about the country's falling back into a recession i quick and italy and spain need bailouts. all of that weighing on of the market. >> we will be back with more of a couple of minutes. we are in the midst of a big cool down. let's settle look from the roof of the van ness ave. we have a catafalques it over the city. we will be right back.
bahut i >> and breaking is happening right now is at virginia tech where everyone is under orders to stay inside. this is video from april 2007 when there was a gun metal loose on the campus. today, we are live, you can see that everything is under lock down because of what happened back then. they are concerned
because they got a report this morning that three juvenile said that they saw someone carrying a gun. the three kids said that the gun was under some type of cloth. police have searched the area but have found no one of matching the description. they are under lockdown considering what happened back in 2007. that was video from that rampage. we will keep you posted and tell you one that has cleared. >> the dalles of 359 and now of 324. we will have the latest out of new york as we are following the market with a major sell-off going
>> breaking news happening in virginia after the virginia tech a massacre in 2007, there is a locked down on the campus right now because some kids said they saw someone carrying a gun. they're checking it out and we will give you the latest. the kron 4 morning news at 9:00 a.m. starts now. >> think you for joining us on this thursday morning. i am mark danon. >> i am darya folsom. let's get you, on whether and traffic. >> aquamarine layer is a thicker this morning. you can see is sitting round the bay and producing some drizzle. a wet start today. as we head into the afternoon highs will be slightly cooler than where they should a hot spot free ride
email@example.com firstname.lastname@example.org >> we have been following a breaking news story out of virginia tech. the campus is on lock down. kids say that they saw a man carrying what i looked like a gun. we want to show you the campus in virginia where this is all happening right now. the center of the investigation is dietrich hall where a gunman was a reporter. the dining hall is not that far away from where the first adorn shootings happened back in april 2007. the university has issued an alert on its web site telling the students and faculty to stay inside. here is a little bit from the news conference. >> 3 juveniles attending the camp of the university reported seeing a white male, 6 ft. tall with brown hair outside of the residents hall east holding what
looked like a hand gun covered by a clock recovery of some sort. he was walking fast in the direction of the volleyball courts in wearing a blue shirt with his wife's vertical stripes, gray shorts and brown sandals. the subject had no facial hair or glasses. again, to repeat with the chief said, officers responded immediately, found no one matching the description and subsequently interviewed those juveniles in continue to patrol campus. that is what we know at this point. people expect and want to know exactly what is happening. we really need to communicate first and investigate later, that is what we did. >> obviously this campus experienced something horrible four years ago. it was just this march that federal court is ruled that administrators violated campus safety law because they waited too long to notify staff and students about a potential threat. an e-mail went out more than two hours after the first shooting back in 2007. by that point, it was too
late. this time around the university posted the alert on its web site, sent out a twitter message, sound of sirens and alarms and a sense of emergency boards by phone, text and e- mail. they left no stone unturned. right now police from virginia tech complex blacksburg and virginia state police are searching for the suspects. the governor of the state has also been notified and he is making sure that all resources are available to find the gun and that was seen on the campus of a virginia tech. we will fall of this breaking news story right here on the kron 4 morning news. >> the dow jones industrial average was off 359 points, it is now off 310. losses for the year on the dow, nasdaq and s and p at these current levels. let's get some insight into what is happening, steve massocca with wedbush securities is joining us. hello, steve. >> hello. if we spoke to about two hours ago. her the dow's
offer over three of the points. any insight? >> previous sellouts were driven by poor economic data. now i think this is being driven by a couple of things. first of all, concerns about debt levels in >> i am watching insurance policies that investors can take out on government debt. i'm looking in places like hall italy, greece, spain and belgium. they are all showing big increases in the cost of that couple that with the japanese yen been weekend, this
was dollar been weakened, all of that is giving uncertainty as to what is going on in the world. the market do not like uncertainty. that is why we are seeing significant declines. >> we had solid gains for retail sales and some positive factors with gm reporting a big quarterly profit. the market is largely ignoring the positive news. >> exactly. that indeed was positive news. people have been concerned about the economy. there has been a lot of negative information coming out earlier in the week. those are two very valid data points. they showed the economy may not be so bad. of course tomorrow we have the big news, implemented it will be released in the morning. that will be something everyone
right now, the european market issues has everyone's eyes. tomorrow, if this continues and we get a good employment number out of washington, that may be overshadowed by continuing debt concerns. >> the european markets are of 3 percent today. is it possible that we will hit a point today where the buyers will come back in? >> personally i am starting to see a lot of stocks trading at extremely low of valuations. there are certain situations where stocks are trading well below their underlying asset values. in my opinion we are starting to see some tremendous bargains. i think sooner or later investors will recognize that for what it is and you will see some buying. quite frankly, to really see a sustained market move back we will need to see some answers to the debt issues in europe. steve
>> 9:10 a.m.. here is a look at your 7 day around the bay. drizzle this morning, the same story for tamara but a little bit cooler. tenders are below the seasonal average. fit in the afternoon we will see some breaks in sunshine. that pattern continues into the weekend with temperatures slowly starting to warm >> . new this morning, the to berkeley grads that are being held in iran on espionage
charges could soon be released. a senior diplomat says that he expects shane bower and josh about to be released very soon and there is a general feeling that they will be freed during >> a big sell-off under way as we continue to follow what is happening with unemployment. the job front is very sluggish. we have a positive report of strong retail sales but that does not swing the market
settled. japan making moves with their yen. that is strengthening their dollar. the strengthening dollar is weak on commodities like chevron. that is helping to send the dow of 295 points. >> more on a breaking news story, a man with a gun was reported on the campus of the virginia tech university. here is a map of the area. the nail board went out to faculty and students to tell them to stay inside locked buildings until it is deemed that the campus is safe. that has not happened yet. the report of a man with a gun came from teams that were attending a camp at the university. regular classes are not in session. police are still looking for the person in question. more on this story when we come back.
>> england we are looking at a significant cool down. hawker the fog will stick around for a good portion of the day. by noon we will still continue to seek low cloud cover. even through the afternoon as well. we will start to see the fog building by this 6:00 p.m. hour and filling in through the delta and causing back into the central valley as we head into the overnight
hours. tomorrow could produce more drizzle as well. right now debitors in the '50s and '60s. here are your highs for today. even livermore will not escape the '70s today. a 10 degree jump in temperatures and places like vallejo and fairfield. in terms of your 7 day around the bay, a similar day for tomorrow with cool afternoon highs. morning
drizzle expected. by saturday and sunday, the fog is expected to stick around, maybe producing drizzle for the weekend. more sunshine in the afternoon. we will slowly start to see the tears rise by the weekend and stay warmer into next week. the time is 9:18 a.m., let's get a check on traffic. >> we are continuing to have a great commute around the bay area. we are not tracking and the hot spots. if you are heading out, expected easy trip across the upper deck. the san mateo bridge has been a problem free. in fact, things are winding down. there are no delays even approaching the toll plaza westbound on 92. the
golden gate bridge ride is still an easy one. >> the dow was off three and a 59 and bouncing back slightly. we spoke with gary schlossberg and ask him with the jobs report coming out for july tomorrow, what does he expect and the difference it could make and market. >> we are looking for an increase somewhere between 50,000-100,000 workers. that, along with unemployment rate stuck at 9.2% and will reinforce the view that the economy it is really struggling to regain momentum. i would not say we are about to fall into a recession,
not by any means, but the effort to pull ourselves out of that near flat lining in the first half of the year, the difficulty there will be underscored by the report tomorrow. at some point we expect to see investors coming in, take your advantage of some attractive prices. some of the temporary restraints will on wind. we will see conditions improved a bit but i do not think the employment report tomorrow will change things. by all accounts it will be another moderate rise. >> struggling economies in europe, italy and spain, that sent european stock down 3 percent earlier today. we also had weekly unemployment claims, this morning into those of basically are showing that employment is stagnant in the united states. 40,000 americans have filed for unemployment for
the first time. >> and other business news, good times for general motors. sales are up 8%. >> if you thought hefty overdraft fees resting of the past, cups pecan trees largest banks are still charging an average $35 an overdraft fees. the survey also finds two-thirds of banks continue piling on fees if customers failed to balance their accounts within a set period of time. kraft foods plans to split into two different public the trading companies with one concentrating on snacks and the other focusing on of groceries. this comes at a time when companies like target and wal-mart are increasing their grease restore prices. 9:21 a.m., we are back with more and a couple of minutes.
>> 3 children who were attending camp at virginia tech said they saw a man with what might be carrying a handgun but covered by some sort of cloth. police have sworn to the area but they have found no one matching the description, a white male, 6 ft. tall, clean shaven. the university has now told students and employees to stay inside until further notice. virginia tech is on lockdown after reports of a man carrying a gun on campus. >> in a developing story, president obama is urging congress to end a partial shutdown of the faa. it began
almost two weeks ago because of an ongoing debate on whether to cut $16 million to rural airports. that $16 million in funding that they're thinking about cutting, the argument over that is losing the government 30 million a day because of the stoppage of the faa. the government has been losing $30 million a day because they are not collect the airline ticket tax is hot since the shutdown. the lost revenue would be 1.2 million if they wait until they come back from their break. >> we are back in 2 minutes as the kron 4 morning news continues.
>> concerns about the financial crisis in europe. check the turkey. ground turkey in your freezer or phrase, 36 million lbs. has been recalled because of possible salmonella contamination. one person in california has died. across the nation more than 70 people sick. more >> on top stories in a moment. louisa hodge is wanted in the
fog. >> we had a damp started the day. you can see overcast conditions from the bay bridge camera. in the east bay, it looks like oakland will stay in the '60s. we'll helpful forecast coming up. >> heading to sfo out of downtown san francisco? give yourself an extra four-five minutes. there is debris and the lands of 101 cell counts. a complete check on traffic coming >> we have new information from
virginia tech authorities. the campus is on top down. kids saw a man carrying what looked like a gun on campus. chris this is it dietrich hall, where the kids saw a guy carrying what looked like a gun. that is near where the first shooting took place back in 2007. the university issued an alert by text message and by phone and on their website telling students and employees to stay inside and secure their doors. a spokesperson just said that they received a tip this morning that sounded all too familiar. >> the most important thing that we can try to do is to contextualize the information we have, that is that there were some juveniles but, they have been estimated to be somewhere in the neighborhood of 14 years old, they saw a person with what
they thought was a gun. that is really the information we have at this point. all that i can try to do is to ask you to put yourselves in our shoes given that information. st. we as an abundance of caution, we are going to keep the campus on alert status and ask people to stay indoors until the police have made a determination that the alert to be lifted. >> police say the teams were attending a camps on the university. regular glasses are not in session. they do believe that the kids told that is credible. e-mail, text and phone awards went out to students and staff telling them to stay inside, inside locked buildings. there are no suspects in custody right now. in april 2007 a gunman at the school opened fire at random killing 32 people before he turned the gun on
himself. it is a very tense situation and all too familiar. we will continue to follow this breaking news story. virginia tech is on lock down after a man was reported with a gun on campus. >> we're watching wall street. the dow's of three and 59. and now of 2 to 79. the dow was down to 11,006 in his 16. the dow was negative for the year. >> the market is falling. michael james with wedbush securities is joining us. >> put good morning. >> we have talked to other experts this morning. everyone is wondering, are we hitting bottom? >> it is premature to assume that we might be at bottom just because the market has gone down even as much as it has over the last week 1/2. clearly we are experiencing negativity from both europe and the united states. last night we had japan intervening in currency markets which caused significant changes
in the currency market. that is what you have seen a flight to safety of the dollar. the significance strength of the dollar is partly due to people fleeing just about every other currency. we have had significant weakness in european markets. there is a lot of concern about spain and italy and the economic numbers that we have seen here over the last week and a half have been pretty negative. obviously a lot of focus of last week was on the drama in washington regarding the debt ceiling bill but i think that masks the negative economic numbers that we saw last week which were just as much or if not more a part of the market's weakness and continuing into this week. we have had a pretty aggressive selling today. you are seeing a
flight away from risk and into safety. >> if you look at individual stocks. they sing like really good bargains right now. basic items based on earnings and yields, it seems like a lot of these stocks, especially some of the blue chips are pretty cheap right now. >> it depends on what your assumption is in terms of expectations for the economy. if the european economy and u.s. economy do in fact weaken further there are some outstanding values and the market. this sentiment among the majority of institutional
investors right now is, i am looking to reduce equity exposure. hon there is too much uncertainty about europe and the u.s. for me to not be raising cash. i am looking to sell stocks and parked it somewhere safer. people are selling such pretty aggressively and putting money into the fixed-income market. from an investor's
standpoint is to tufts to justify putting money to work here unless you have a higher risk tolerance. if you have a higher risk tolerance, i would be buying stocks. if you have a more conservative approach i think there is still way to many questions about both the u.s. and european economy to feel comfortable getting wobbly aggressive in buying stocks. >> thank you.
>> just because of the markets have sold off as much as they have a last two weeks, it does not necessarily mean that the individual names or the market in general is cheap or expensive. there are valid reasons for the market's weakness of the last two weeks. i cannot see us going down much more short-run from here, but that does not need a couple months we will not be another 5 or 10% lower. i envision that, but i think there is ample evidence for the potential of that happen. >> 9:38 a.m.. we will be right back.
drizzle. partly cloudy conditions will continue to the afternoon especially in the south bay. it looks like we will break into the mid '70s for san jose and one of the warmer spots, morgan hill, only getting up to about 82. pleasant conditions but that is about as warm as we will get today. below '80s. a cool afternoon on tap. below the seasonal average. the fall will be pretty slow to lift today, rebuilding as we head towards the 6:00 p.m. hour it looks like we could see drizzle for tomorrow morning. be prepared to use your windshield wipers for another day. current temperatures are still sitting in the '50s from the peninsula down into half moon bay and redwood city. as we have further inland expect to see a 63
rating. your afternoon highs look like they will climb into the low 80s. livermore only getting up to about 77. a significant cool down there. in san francisco today, we will be cool in a few degrees, warming to about 63. your 7 day around the bay shows and other cool day on tap. tomorrow we will start to see a slight warming trend. an armageddon with the fog just yet. fog is still expected to stick with us. as temperatures will be a little warmer than today. upper 80s inland, 7 day
around the bay and mid-60's for the coast. let's take a look at traffic. >> we have been watching the right to sfo on 101 south found out of downtown san francisco as a potential hot spot. there were problems with the debris in the lanes. there was also an accident reported southbound. the traffic is flowing smoothly once again. it is a problem free. while it may take you 16 or 17 minutes to get to sfo from downtown, it is only one minute or so more than you would otherwise have to contend with. not a bad ride or hot spot. a bridge check as we have to the bay bridge were traffic is light enough that the metering lights were turned off about an hour ago. it is a point to be an easy ride on the approach and across the upper deck. the san mateo bridge has been quiet all morning and now the commute is over. a pretty balanced flow either eastbound or westbound. the golden gate bridge ride was without incident this morning.
no slowing in either direction during the commute or now for your right to or from marin county. >> we continue to watch wall street, we're of 100 points. the dow is now of 252. this morning, we spoke with gary slosh for of the walls capital management about one of the reason for the drops, the strengthening dollar. >> there is concern that with the dollar moving up and is moving up in part because the japanese are intervening in and buying up dollars to prop up the exchange rate against their currency and the dollar also benefiting from what we sell a safe haven bid. that is investors moving out of bureaus and other currencies that are of concern into the
house >> concern with italy and spain way the market as >> more on the breaking news story, there is no word when the lock down might be lifted at virginia tech. kids attending a summer camp there said that they saw a man carrying with it thought was a handgun covered by some sort of cloth near dietrich as this past march, federal authorities ruled that investors violated campus safety when they waited too long to notify staff and students about a potential threat. did he know what's out
families are getting pretty of support from the academic community. >> before they were rested, the students here at uc-berkeley, their professors were monitoring in the news coming out of peron including urging the government to release them. they are not the only ones doing that. so is president obama, mohammad ali and sean penn. that is just to name a few. >> 9:53 a.m.. we are back with more in a couple of minutes.