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Consumer debt climbs as American credit card balances surpass $1 trillion

Published Mon, 23 Dec 2024 14:27:06 GMT

Consumer debt grew $17.9 billion from May to June as a credit crunch brought on by Federal Reserve rate hikes drove a sharp gain in the amount of outstanding credit for payments like mortgages and car loans.The numbers, which are not adjusted for inflation, come in well ahead of expectations at $13 billion and nearly double the increase from the previous month at $9.4 billion.Debt levels on lump-sum purchases like houses and student loans increased $18.4 billion, offset by a 0.6 percent decrease in the amount of “revolving” credit, which includes things like credit cards and lines of credit.‘It’s just gonna get paid when it gets paid’: Balance-carrying cardholders crunched by Fed rate hikesThe dip in revolving credit is catching the eye of economists.“This is surprising and inconsistent with other data we have on consumer spending in the month," economist Dean Baker with the Center for Economic and Policy Research told The Hill.  "These data are erratic and often subject to substant...

New small business marijuana license application period closes this week

Published Mon, 23 Dec 2024 14:27:06 GMT

JEFFERSON CITY, Mo. - The state's health department is offering a chance for Missourians to become entrepreneurs in the marijuana industry. It's been six months since recreational marijuana sales went live in Missouri. Since then, the state has sold roughly $4 million of legal weed a day, totaling nearly $600 million. Part of Amendment 3 that voters approved back in November 2022 included language creating microbusiness licenses, and the idea behind it is to boost opportunities in disadvantaged communities. "It was surprising to me just how popular this program was. Just how many people were interested in access," director of Missouri's Division for Cannabis Regulation Amy Moore said. "The way I would describe these licenses is they are small businesses. Missourians know what a small business is. They know it can be challenging, but it can be incredibly rewarding and a great opportunity."Following voter approval, the state offered comprehensive licenses to facilities alrea...

Father mourning after 7-year-old dies in accidental shooting

Published Mon, 23 Dec 2024 14:27:06 GMT

BERKELEY, Mo. – Two families are coping with tragedies. A 7-year-old was accidentally shot and killed in Berkeley. Hours later in Belleville, a 5-year-old suffered a fatal gunshot wound to the face.As the effects of guns plague two communities, the father of the 7-year-old is speaking out about the loss of his son.“I feel like he don’t deserve that. It should’ve just been me instead of him,” Deontrell Macon said.A young boy is dead, and a father is in mourning.The child was playing with an unsecured gun inside a truck parked at the Mint Townhomes, when he accidentally shot himself.“A lot of police cars,” Ajah Shurn, a resident at the complex, said.Cardinal Glennon Children’s Hospital said they’ve treated 28 children for gunshot wounds this year alone. Some of those, the same case as what Macon describes, simply tragic accidents.“It was an accident,” Macon said.Macon said he was asleep upstairs when his son died. The 7-year-old’s grandfather, Macon's father, had been watching the chi...

Anheuser-Busch selling 8 beer, beverage brands to cannabis company

Published Mon, 23 Dec 2024 14:27:06 GMT

ST. LOUIS - Anheuser-Busch InBev has reached an agreement to sell eight of its beer and beverage brands, including Shock Top and HiBall Energy, to global cannabis company Tilray Brands, Inc.The deal is expected to be completed by year's end and includes current employees, breweries, and brewpubs associated with the brands.The brands are: Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.The move will elevate Tilray to the fifth-largest craft beer business in the United States, up from ninth overall.The sale price was not disclosed in Monday's announcement.

Hazelwood apartment complex cited for AC unit repair delays after FOX 2 report

Published Mon, 23 Dec 2024 14:27:06 GMT

HAZELWOOD, Mo. – When we met Vanessa Downen in late July, the air conditioner in her Hazelwood Forest Apartment unit had been removed but not replaced."They actually have a whiteboard above the desk in the office of the manager that has ‘AC units’ written on it. Below it, about 13 other units. Mine is about the fifth one down,” she said.According to Downen, a new management company took control of the complex a few months ago, further complicating her efforts to get her air conditioning fixed.FOX 2 attempted to question complex management about the repairs, but no one would answer the door or respond to our follow-up phone calls. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily News SIGN UP NOW Hazelwood City Manager Matthew Zimmerman said he issued the complex a five-day ...

Wildwood residents complain about glut of excess trash cans

Published Mon, 23 Dec 2024 14:27:06 GMT

WILDWOOD, Mo. – Trash woes have now hit one of St. Louis's top suburbs. It's not an issue of too much garbage in Wildwood; it's too many garbage cans stacking up in people’s driveways, yards, or garages, along with skyrocketing garbage fees.New garbage service means new cans have been issued before the old ones have been taken away. There’s the sheer number of cans, plus the size of the new containers: a 96-gallon can for trash and a 64-gallon can for recycling.People are putting four, five, or even six barrels out in their driveways after the city arranged new trash service. The former provider, Waste Connections, pulled out with the expiration of its contract.“I think at one time there were probably at least over 100 trash cans in the subdivision waiting for the old provider to come pick them up,” resident Steve Ash said. “So, it’s been a dilemma.”The old bins have signs on them with messages like, “Take cans, please.” The old containers won’t work with the new provider’s trucks. ...

Beatle Bob tribute at Ballpark Village brings fans, bands from far and wide

Published Mon, 23 Dec 2024 14:27:06 GMT

ST. LOUIS – Bands and music fans showed up to Ballpark Village Monday evening to celebrate the man lovingly known as Beatle Bob.Bob Matonis was diagnosed with ALS in February 2022 and passed away on July 27. He was 70.Family and friends showed up to the tribute to help say goodbye to a man known in the music community for his dance moves."Beatle Bob is St. Louis. He's a product of St. Louis,” Jimmy Tebeau said. “He represents St. Louis, and any time he would go anywhere, it was like, ‘Oh, there's Beatle Bob from St. Louis. It's like Imo's pizza. It's St. Louis.”A dance floor is always involved in any memories friends have of Bob."I first ran into him at Mississippi Nights down on The Landing, if you remember where that is. He was the only guy dancing on the dance floor," Tebeau said.Matonis’ favorite bands drove in from their nationwide tours to pay tribute to their favorite fan. Child shot and killed while playing with a gun in north St. Louis County "Every cool show that I've ev...

Former Laker Derek Fisher named head coach of Crespi High School basketball team

Published Mon, 23 Dec 2024 14:27:06 GMT

A five-time NBA champion is taking the helm of a local high school basketball team. Derek Fisher, who won all five of his championships with the Los Angeles Lakers, also played for the Golden State Warriors, Utah Jazz, Oklahoma City Thunder and Dallas Mavericks during his 18-season career in the NBA. Fisher also served as the head coach of the New York Knicks from 2014-2016 and most recently served as the head coach of the WNBA’s Los Angeles Sparks from 2019-2022.  You now have the chance to swim in one of California's most famous pools According to a release from the school, Fisher was coaching eighth graders at Heritage Christian School this past year. "My family and I are thankful and grateful for this opportunity to join the Crespi Family," Fisher said. "Coaching and teaching is a true passion and I look forward to continuing this focus on the next generation of young student-athletes.”Brian Bilek, Crespi Director of Athletics, thanked the community for pro...

Sale closed in Los Gatos: $1.6 million for a condominium

Published Mon, 23 Dec 2024 14:27:06 GMT

102 Abby Wood Court – Google Street ViewA condominium located in the 100 block of Abby Wood Court in Los Gatos has new owners. The 1,520-square-foot property, built in 1972, was sold on July 21, 2023, for $1,568,000, or $1,032 per square foot. This apartment has three bedrooms and three bathrooms. Inside, there is a fireplace. The property is equipped with forced air heating and a cooling system. In addition, the home includes a two-car garage, ensuring ample room for parking and storage. Nestled on a spacious 1,800-square-foot lot, this property boasts a pool.These nearby units have also recently been purchased:On Elm Wood Court, Los Gatos, in March 2023, a 1,520-square-foot unit was sold for $1,450,500, a price per square foot of $954. The unit has 3 bedrooms and 3 bathrooms.In November 2022, a 1,461-square-foot unit on Pine Wood Lane in Los Gatos sold for $1,320,000, a price per square foot of $903. The unit has 2 bedrooms and 2 bathrooms.A 1,461-square-foot unit on the 300 block...

CHP finds $229K in stolen paint at Stockton warehouse

Published Mon, 23 Dec 2024 14:27:06 GMT

STOCKTON – The California Highway Patrol Golden Gate Division on Monday announced the recovery of $229,000 in stolen paint.On July 31, members of the CHP’s Cargo Theft Interdiction Program found 48 pallets of Sherwin-Williams paint at a warehouse in Stockton, the CHP said in a social media post.The paint was originally stolen in Nevada and traced to Stockton, according to the CHP.The California Highway Patrol Golden Gate Division’s Cargo Theft Interdiction Program recovered $229,000 worth of stolen Sherwin-Williams paint at a warehouse in Stockton on July 31, 2023. The merchandise was originally stolen in Nevada. (California Highway Patrol) “The successful recovery of this stolen cargo was due in large part to the excellent communication between CHP, allied agencies, and the private industry,” the CHP said.The CHP did not announce any arrests, but said the investigation remains ongoing.Check back for updates.