Dow logs tenth straight record day

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed mostly higher on Thursday as the Dow posted its tenth straight record close.

The Dow gained 34.72 (+0.17 percent) to finish at 20,810.32.

The Nasdaq lost 25.12 (-0.43 percent) to close at 5,835.51, while the S&P 500 finished at 2,363.81, up 0.99 (+0.04 percent) from its open.

Crude oil prices were 1.44 percent higher, hitting just over $54 a barrel.

Copyright © 2017, ABC Radio. All rights reserved.

Dow logs tenth straight record day

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed mostly higher on Thursday as the Dow posted its tenth straight record close.

The Dow gained 34.72 (+0.17 percent) to finish at 20,810.32.

The Nasdaq lost 25.12 (-0.43 percent) to close at 5,835.51, while the S&P 500 finished at 2,363.81, up 0.99 (+0.04 percent) from its open.

Crude oil prices were 1.44 percent higher, hitting just over $54 a barrel.

Copyright © 2017, ABC Radio. All rights reserved.

86-year-old Georgia man donates $400K in recycling profits to charity

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) —  An 86-year-old Georgia man has donated approximately $400,000 to a local charity over the course of about 30 years, using money he received from recycling.

Johnny Jennings, of Ringgold, Georgia, began recycling decades ago as a way to bond with his only child, a son named Brent Jennings.

 “We used to use it as time together,” Brent Jennings told ABC News. “We’d walk roads and pick up cans and sell it and take the money and put it in a savings account. When I bought my first house, I had enough from recycling to make my first down payment on my home.”

When Brent Jennings left his parents’ home after high school in 1985, his father kept recycling. Neighbors began to bring recycling items to the home he shares with his wife of 61 years, Gwendolyn, and he would drive to churches and offices to pick up their recycling.

 “My husband and I were looking into adoption and a friend said [Jennings] was serving on the board of the Georgia Baptist Children’s Homes so I called and we struck up a conversation,” Shay Love told ABC News. “He told me about his recycling program and I told him I would save all the recycling in my office if he wanted to come by and pick it up. “

“For the past 12 years or so, every Thursday, he’s come to my office to pick up the recycling,” she said. “It’s my favorite day of the week.”

Georgia Baptist Children’s Homes & Family Ministries has been the beneficiary of the money, about $400,000 cumulatively, Jennings has collected over the past three decades. The Christian ministry that provides care for troubled children and families has been a focus of Jennings since he was a teenager.

Brent Jennings described how he was told his father decided to become involved with the charity.

“He went with a member of his church and when they got ready to leave, three little boys grabbed his legs and asked him if he would be their daddy,” he said. “He said right there, ‘I’m going to do what I can as long as I can for the Georgia Baptist Children’s Homes.'”

Jennings, now a trustee emeritus, delivers a check usually in the range of $10,000 to $15,000 to the charity every year at their annual board meeting. Brent Jennings drives his dad the three hours to the nearest campus.

“They’ve been a mom and dad to thousands of children through the children’s home,” said Brent Jennings, who is an only child. “My dad doesn’t see the $400,000. He sees the faces of those kids.”

  Georgia Baptist Children’s Homes & Family Ministries confirmed Jennings’ donations to ABC News. The organization’s president also praised Jennings in a statement.

“Johnny Jennings is one of the most gracious individuals I have ever met,” said Dr. Kenneth Z. Thompson. “I have always admired his quiet, humble spirit, his commitment to helping others and most of all, his love for the children in our care. We are so blessed to have someone of his character dedicated to serving our ministry.”

Jennings’ generosity is in the spotlight now thanks to a Facebook post written by Love that has been shared more than 5,000 times.

  Brent Jennings said he told his dad, who is not online and just got a cellphone three years ago, that his actions are going viral.

“He said, ‘I wish they would just stop that,'” he said. “He’s a very humble man.”

Brent Jennings described his dad’s commitment to recycling by saying, “If he just quits he won’t last long. It’s just what he does.”

Jennings could not be reached as of this writing. He spends Thursdays singing at a local nursing home with his wife.

Copyright © 2017, ABC Radio. All rights reserved.

86-year-old Georgia man donates $400K in recycling profits to charity

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) —  An 86-year-old Georgia man has donated approximately $400,000 to a local charity over the course of about 30 years, using money he received from recycling.

Johnny Jennings, of Ringgold, Georgia, began recycling decades ago as a way to bond with his only child, a son named Brent Jennings.

 “We used to use it as time together,” Brent Jennings told ABC News. “We’d walk roads and pick up cans and sell it and take the money and put it in a savings account. When I bought my first house, I had enough from recycling to make my first down payment on my home.”

When Brent Jennings left his parents’ home after high school in 1985, his father kept recycling. Neighbors began to bring recycling items to the home he shares with his wife of 61 years, Gwendolyn, and he would drive to churches and offices to pick up their recycling.

 “My husband and I were looking into adoption and a friend said [Jennings] was serving on the board of the Georgia Baptist Children’s Homes so I called and we struck up a conversation,” Shay Love told ABC News. “He told me about his recycling program and I told him I would save all the recycling in my office if he wanted to come by and pick it up. “

“For the past 12 years or so, every Thursday, he’s come to my office to pick up the recycling,” she said. “It’s my favorite day of the week.”

Georgia Baptist Children’s Homes & Family Ministries has been the beneficiary of the money, about $400,000 cumulatively, Jennings has collected over the past three decades. The Christian ministry that provides care for troubled children and families has been a focus of Jennings since he was a teenager.

Brent Jennings described how he was told his father decided to become involved with the charity.

“He went with a member of his church and when they got ready to leave, three little boys grabbed his legs and asked him if he would be their daddy,” he said. “He said right there, ‘I’m going to do what I can as long as I can for the Georgia Baptist Children’s Homes.'”

Jennings, now a trustee emeritus, delivers a check usually in the range of $10,000 to $15,000 to the charity every year at their annual board meeting. Brent Jennings drives his dad the three hours to the nearest campus.

“They’ve been a mom and dad to thousands of children through the children’s home,” said Brent Jennings, who is an only child. “My dad doesn’t see the $400,000. He sees the faces of those kids.”

  Georgia Baptist Children’s Homes & Family Ministries confirmed Jennings’ donations to ABC News. The organization’s president also praised Jennings in a statement.

“Johnny Jennings is one of the most gracious individuals I have ever met,” said Dr. Kenneth Z. Thompson. “I have always admired his quiet, humble spirit, his commitment to helping others and most of all, his love for the children in our care. We are so blessed to have someone of his character dedicated to serving our ministry.”

Jennings’ generosity is in the spotlight now thanks to a Facebook post written by Love that has been shared more than 5,000 times.

  Brent Jennings said he told his dad, who is not online and just got a cellphone three years ago, that his actions are going viral.

“He said, ‘I wish they would just stop that,'” he said. “He’s a very humble man.”

Brent Jennings described his dad’s commitment to recycling by saying, “If he just quits he won’t last long. It’s just what he does.”

Jennings could not be reached as of this writing. He spends Thursdays singing at a local nursing home with his wife.

Copyright © 2017, ABC Radio. All rights reserved.

Google reportedly to take on Uber with expansion of Waze carpool service

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Google may be stepping up to compete with Uber. The tech company is developing a carpool service by expanding its Waze navigation app, according to a Wall Street Journal report.

Watch ABC News’ Rebecca Jarvis discuss Google’s Waze expansion:

ABC Breaking News | Latest News Videos

Copyright © 2017, ABC Radio. All rights reserved.

Google reportedly to take on Uber with expansion of Waze carpool service

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Google may be stepping up to compete with Uber. The tech company is developing a carpool service by expanding its Waze navigation app, according to a Wall Street Journal report.

Watch ABC News’ Rebecca Jarvis discuss Google’s Waze expansion:

ABC Breaking News | Latest News Videos

Copyright © 2017, ABC Radio. All rights reserved.

The one "Shark Tank" deal Mark Cuban regrets not making

Posted on: February 23rd, 2017 by ABC News No Comments

Courtesy John Tabis(NEW YORK) — When founder John Tabis brought The Bouqs Company to ABC’s Shark Tank in 2014, it seemed that all the “sharks” hated the product.

“We all passed on it,” shark Robert Herjavec told ABC News.

The Bouqs Company disrupts the flower delivery system by selling directly to consumers. It cuts out the layers of middlemen normally in the process.

“Flowers are largely sourced in the U.S., out of Ecuador and Colombia and, as a result, have a very long and convoluted supply chain. They go from farmers to exporters to importers to wholesalers to florists and then you buy them from some website,” Tabis explained to ABC News.

Tabis said his co-founder, Juan Pablo Montufar, grew up on a farm in Ecuador and knew how painful it was for farmers to make the flower industry work.

“He started skipping all those layers, and he started shipping directly from his family’s farm in Ecuador to a florist. And he loved it because he got better margin, the florist got fresher products for less money and he got paid much more quickly than if he waited for all those layers to pay him,” said Tabis.

Montufar asked for Tabis’ help to get more people to care about the process and educated him on how it could be beneficial for consumers, florists and the environment. They launched The Bouqs Company in 2012.

But when Tabis entered the Shark Tank in 2014, Herjavec says he thought Tabis did a “bad job” with the presentation.

“And they had astronomical numbers. They were doing $2 million a year, and they said, ‘Next year, we’ll be $12 million, and then we’ll be $30 million.’ And we hate stuff like that,” Herjavec recalled. “We’re like, ‘Oh, it’ll never happen.’”

The sharks also disliked that consumers had to wait six days for a flower delivery, and shark Barbara Corcoran said she hated the name of the company.

“I thought I did pretty well. B-plus?” Tabis said. “I definitely didn’t bomb it.”

Despite not getting a deal with the sharks, The Bouqs Company has thrived. In the run up to Valentine’s Day this year, the company reported sales of over $1 million in a single day.

“We did in 24 hours more than we had done in the entire year leading up to the ‘Shark Tank’ appearance. So, the business has grown a lot,” said Tabis.

Three years after Bouqs appeared on Shark Tank, Herjavec said he was shocked by the price of flowers while shopping for them ahead of his wedding to his Dancing With the Stars partner, Kym Johnson. Herjavec reached out to Tabis and asked him why flowers were so expensive.

“[Tabis] said, ‘Come and see me. I’ll explain the flower business to you.’ [He] draws it out for me, shows me what they’re doing. I’m like, ‘I love it,’” Herjavec said. “So I took part of their last round. We just raised $24 million.”

When shark Mark Cuban learned how successful the Bouqs Company has become, he expressed his regret for not getting in the deal when he had the chance.

“That’s the one I regret not doing, ‘cause that’s a deal I would’ve loved,” said Cuban.

“And most importantly, I saved a ton of money on my flowers for my wedding,” Herjavec joked.

Watch the full story on ABC News 20/20 — Shark Tank on 20/20 — this Friday at 10 p.m. ET

Copyright © 2017, ABC Radio. All rights reserved.

The one "Shark Tank" deal Mark Cuban regrets not making

Posted on: February 23rd, 2017 by ABC News No Comments

Courtesy John Tabis(NEW YORK) — When founder John Tabis brought The Bouqs Company to ABC’s Shark Tank in 2014, it seemed that all the “sharks” hated the product.

“We all passed on it,” shark Robert Herjavec told ABC News.

The Bouqs Company disrupts the flower delivery system by selling directly to consumers. It cuts out the layers of middlemen normally in the process.

“Flowers are largely sourced in the U.S., out of Ecuador and Colombia and, as a result, have a very long and convoluted supply chain. They go from farmers to exporters to importers to wholesalers to florists and then you buy them from some website,” Tabis explained to ABC News.

Tabis said his co-founder, Juan Pablo Montufar, grew up on a farm in Ecuador and knew how painful it was for farmers to make the flower industry work.

“He started skipping all those layers, and he started shipping directly from his family’s farm in Ecuador to a florist. And he loved it because he got better margin, the florist got fresher products for less money and he got paid much more quickly than if he waited for all those layers to pay him,” said Tabis.

Montufar asked for Tabis’ help to get more people to care about the process and educated him on how it could be beneficial for consumers, florists and the environment. They launched The Bouqs Company in 2012.

But when Tabis entered the Shark Tank in 2014, Herjavec says he thought Tabis did a “bad job” with the presentation.

“And they had astronomical numbers. They were doing $2 million a year, and they said, ‘Next year, we’ll be $12 million, and then we’ll be $30 million.’ And we hate stuff like that,” Herjavec recalled. “We’re like, ‘Oh, it’ll never happen.’”

The sharks also disliked that consumers had to wait six days for a flower delivery, and shark Barbara Corcoran said she hated the name of the company.

“I thought I did pretty well. B-plus?” Tabis said. “I definitely didn’t bomb it.”

Despite not getting a deal with the sharks, The Bouqs Company has thrived. In the run up to Valentine’s Day this year, the company reported sales of over $1 million in a single day.

“We did in 24 hours more than we had done in the entire year leading up to the ‘Shark Tank’ appearance. So, the business has grown a lot,” said Tabis.

Three years after Bouqs appeared on Shark Tank, Herjavec said he was shocked by the price of flowers while shopping for them ahead of his wedding to his Dancing With the Stars partner, Kym Johnson. Herjavec reached out to Tabis and asked him why flowers were so expensive.

“[Tabis] said, ‘Come and see me. I’ll explain the flower business to you.’ [He] draws it out for me, shows me what they’re doing. I’m like, ‘I love it,’” Herjavec said. “So I took part of their last round. We just raised $24 million.”

When shark Mark Cuban learned how successful the Bouqs Company has become, he expressed his regret for not getting in the deal when he had the chance.

“That’s the one I regret not doing, ‘cause that’s a deal I would’ve loved,” said Cuban.

“And most importantly, I saved a ton of money on my flowers for my wedding,” Herjavec joked.

Watch the full story on ABC News 20/20 — Shark Tank on 20/20 — this Friday at 10 p.m. ET

Copyright © 2017, ABC Radio. All rights reserved.

Jobless claims jump to 244K

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(WASHINGTON) — Jobless claims spiked higher last week, increasing by 6,000, according to the latest figures released Thursday by the Labor Department.

For the week ending Feb. 18, the number of people filing for benefits jumped from a revised level of 238,000 the previous week to 244,000.

The Labor Department said there were no “special factors” impacting that week’s figures.

Now at 241,000, four-week moving average, however, decreased by 4,000 to its lowest level since July 21,1973.

Copyright © 2017, ABC Radio. All rights reserved.

Jobless claims jump to 244K

Posted on: February 23rd, 2017 by ABC News No Comments

iStock/Thinkstock(WASHINGTON) — Jobless claims spiked higher last week, increasing by 6,000, according to the latest figures released Thursday by the Labor Department.

For the week ending Feb. 18, the number of people filing for benefits jumped from a revised level of 238,000 the previous week to 244,000.

The Labor Department said there were no “special factors” impacting that week’s figures.

Now at 241,000, four-week moving average, however, decreased by 4,000 to its lowest level since July 21,1973.

Copyright © 2017, ABC Radio. All rights reserved.

US stocks close mostly lower as Dow posts new record

Posted on: February 22nd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed mostly lower Wednesday as the Dow posted its ninth straight record close.

The Dow jumped 32.60 (+0.16 percent) to finish at 20,775.60.

The Nasdaq lost 5.32 (-0.09 percent) to close at 5,860.63, while the S&P 500 finished at 2,362.82, down 2.56 (-0.11 percent) from its open.

Crude oil prices were 1 percent lower; about $53 a barrel.

Copyright © 2017, ABC Radio. All rights reserved.

US stocks close mostly lower as Dow posts new record

Posted on: February 22nd, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed mostly lower Wednesday as the Dow posted its ninth straight record close.

The Dow jumped 32.60 (+0.16 percent) to finish at 20,775.60.

The Nasdaq lost 5.32 (-0.09 percent) to close at 5,860.63, while the S&P 500 finished at 2,362.82, down 2.56 (-0.11 percent) from its open.

Crude oil prices were 1 percent lower; about $53 a barrel.

Copyright © 2017, ABC Radio. All rights reserved.

Sharks and ‘Shark Tank’s’ most frustrating, yet successful entrepreneur

Posted on: February 22nd, 2017 by ABC News No Comments

Creatas/Thinkstock(NEW YORK) — Copa Di Vino founder James Martin isn’t bothered by the fact that the “sharks” of ABC’s Shark Tank don’t have fond memories of his two infamous appearances on the hit entrepreneurial reality show.

That’s because, despite walking away from the sharks’ offers twice and being known as one of the sharks’ most disliked inventors, Martin’s product is one of Shark Tank’s most successful.

“We all know the sharks blew it and missed out on the biggest opportunity they ever had — which was me,” Martin told ABC News.

Martin created Copa Di Vino, an on-the-go beverage with a portfolio of seven different types of wine that come in a patented, single-serving, plastic container with a pull-off and resealable lid.

Martin’s Oregon-based, family-owned winery struggled for years before making a profit. When the opportunity arose to appear on the second season of Shark Tank in 2011, Martin jumped at the possibility. He asked the sharks for $600,000 in exchange for 30 percent of his business to help create more inventory.

At first all the sharks expressed interest and quickly began making offers, including Shark Kevin O’Leary, who went on to launch his own wine label, O’Leary Fine Wines, in October 2012.

“[The container] that’s never been done in wine before, and I grant him that was a good move,” O’Leary told ABC News. “The problem with him … is he tried to sell me … on a winery. Now, I’m in the winery business. That is a bad business.”

O’Leary wanted Martin to separate the patent for the Copa Di Vino container from the wine itself so he could focus on licensing the container’s technology to other winemakers, but Martin wouldn’t budge.

Other sharks pitched deals, but as Martin continued to turn down offers, they became less interested with his arrogant attitude. The sharks also commented that Martin seemed to be sweating profusely throughout his pitch. Martin said he was sweating because he became too hot under the TV lights in his turtleneck sweater.

“I started melting and under the pressure of Kevin O’Leary trying to split my company into two, I really started to melt,” Martin said. “For me, all I was trying to do was figure out how to get a taxi to get me out of here. … You see about 10 minutes of the exchange but I was actually out there under those lights for 45 minutes in that pressure of the tank, in the pressure of five different entrepreneurs who are very, very intelligent all firing questions at you, sometimes two or three at the same time.”

In the end, Martin brushed off the sharks’ advice and left without accepting any offers.

But soon after his episode aired, Martin said he received numerous offers from people wanting to invest in his company and Copa Di Vino took off.

Shark Tank producers took notice of Copa Di Vino’s success and offered Martin a rare second chance to go “back in the tank.” He re-pitched the product to the sharks the following year. By that time, Martin said Copa Di Vino had gone from $600,000 to $5 million in sales in just one year.

“I had a hate for Kevin O’Leary at a level that wasn’t healthy at all and my opportunity to come back was also my chance to get the last word in and say, ‘Look, you blew it, but I’m also gracious enough to give you a second chance,’” Martin told ABC News.

But again, Shark Barbara Corcoran said she didn’t appreciate what she said was Martin’s “coy” attitude. “We didn’t respect him either,” she said.

The standoff between the sharks and Martin went into its second round when neither side budged on the same point they were stuck on the first time around. And seemingly instead of working with them to make a deal, Martin just kept taking sips of his wine.

“The second time he came on he stood out there, and he knew we all were interested, and he was trying to be too cool, too smart … thinking like he’s the man,” said Shark Mark Cuban. “It was a lot of money. We were negotiating. And he’s like, ‘I’m going to take a sip.’”

“I think in the second one he forgot his place,” added Shark Robert Herjavec. “He is not the shark. We’re the sharks.”

Even though Martin walked away, again, without any of the sharks’ investment, the chance to promote his product on national television twice had contributed to huge payoffs.

To date, Copa Di Vino has sold 38 million cups of wine in places ranging from local convenience stores and supermarket chains to Marriott hotels and sports arenas and stadiums, and the company claims to have made $12 million in sales in 2016. The brand has also expanded to include Copa Di Vino variety packs, t-shirts, beach coolers and even an “outdoor patio bar.”

“I didn’t need the sharks. They needed me,” Martin said. “They needed a really, really successful brand that went everywhere and they didn’t get it because they got greedy.”

The sharks, however, feel differently. All agree they have no regrets about passing on Copa Di Vino.

“Could you imagine dealing with him on an ongoing basis?” Cuban said.

“He would ruin our lives, our happy lives,” Corcoran added.

Watch the full story on ABC News 20/20 — Shark Tank on 20/20″– FRIDAY at 10 p.m. ET.

Copyright © 2017, ABC Radio. All rights reserved.

Sharks and ‘Shark Tank’s’ most frustrating, yet successful entrepreneur

Posted on: February 22nd, 2017 by ABC News No Comments

Creatas/Thinkstock(NEW YORK) — Copa Di Vino founder James Martin isn’t bothered by the fact that the “sharks” of ABC’s Shark Tank don’t have fond memories of his two infamous appearances on the hit entrepreneurial reality show.

That’s because, despite walking away from the sharks’ offers twice and being known as one of the sharks’ most disliked inventors, Martin’s product is one of Shark Tank’s most successful.

“We all know the sharks blew it and missed out on the biggest opportunity they ever had — which was me,” Martin told ABC News.

Martin created Copa Di Vino, an on-the-go beverage with a portfolio of seven different types of wine that come in a patented, single-serving, plastic container with a pull-off and resealable lid.

Martin’s Oregon-based, family-owned winery struggled for years before making a profit. When the opportunity arose to appear on the second season of Shark Tank in 2011, Martin jumped at the possibility. He asked the sharks for $600,000 in exchange for 30 percent of his business to help create more inventory.

At first all the sharks expressed interest and quickly began making offers, including Shark Kevin O’Leary, who went on to launch his own wine label, O’Leary Fine Wines, in October 2012.

“[The container] that’s never been done in wine before, and I grant him that was a good move,” O’Leary told ABC News. “The problem with him … is he tried to sell me … on a winery. Now, I’m in the winery business. That is a bad business.”

O’Leary wanted Martin to separate the patent for the Copa Di Vino container from the wine itself so he could focus on licensing the container’s technology to other winemakers, but Martin wouldn’t budge.

Other sharks pitched deals, but as Martin continued to turn down offers, they became less interested with his arrogant attitude. The sharks also commented that Martin seemed to be sweating profusely throughout his pitch. Martin said he was sweating because he became too hot under the TV lights in his turtleneck sweater.

“I started melting and under the pressure of Kevin O’Leary trying to split my company into two, I really started to melt,” Martin said. “For me, all I was trying to do was figure out how to get a taxi to get me out of here. … You see about 10 minutes of the exchange but I was actually out there under those lights for 45 minutes in that pressure of the tank, in the pressure of five different entrepreneurs who are very, very intelligent all firing questions at you, sometimes two or three at the same time.”

In the end, Martin brushed off the sharks’ advice and left without accepting any offers.

But soon after his episode aired, Martin said he received numerous offers from people wanting to invest in his company and Copa Di Vino took off.

Shark Tank producers took notice of Copa Di Vino’s success and offered Martin a rare second chance to go “back in the tank.” He re-pitched the product to the sharks the following year. By that time, Martin said Copa Di Vino had gone from $600,000 to $5 million in sales in just one year.

“I had a hate for Kevin O’Leary at a level that wasn’t healthy at all and my opportunity to come back was also my chance to get the last word in and say, ‘Look, you blew it, but I’m also gracious enough to give you a second chance,’” Martin told ABC News.

But again, Shark Barbara Corcoran said she didn’t appreciate what she said was Martin’s “coy” attitude. “We didn’t respect him either,” she said.

The standoff between the sharks and Martin went into its second round when neither side budged on the same point they were stuck on the first time around. And seemingly instead of working with them to make a deal, Martin just kept taking sips of his wine.

“The second time he came on he stood out there, and he knew we all were interested, and he was trying to be too cool, too smart … thinking like he’s the man,” said Shark Mark Cuban. “It was a lot of money. We were negotiating. And he’s like, ‘I’m going to take a sip.’”

“I think in the second one he forgot his place,” added Shark Robert Herjavec. “He is not the shark. We’re the sharks.”

Even though Martin walked away, again, without any of the sharks’ investment, the chance to promote his product on national television twice had contributed to huge payoffs.

To date, Copa Di Vino has sold 38 million cups of wine in places ranging from local convenience stores and supermarket chains to Marriott hotels and sports arenas and stadiums, and the company claims to have made $12 million in sales in 2016. The brand has also expanded to include Copa Di Vino variety packs, t-shirts, beach coolers and even an “outdoor patio bar.”

“I didn’t need the sharks. They needed me,” Martin said. “They needed a really, really successful brand that went everywhere and they didn’t get it because they got greedy.”

The sharks, however, feel differently. All agree they have no regrets about passing on Copa Di Vino.

“Could you imagine dealing with him on an ongoing basis?” Cuban said.

“He would ruin our lives, our happy lives,” Corcoran added.

Watch the full story on ABC News 20/20 — Shark Tank on 20/20″– FRIDAY at 10 p.m. ET.

Copyright © 2017, ABC Radio. All rights reserved.

Existing home price sales start the year off strong

Posted on: February 22nd, 2017 by ABC News No Comments

iStock/Thinkstock(WASHINGTON) — Despite rising mortgage rates, sales of existing homes started off at a strong pace in 2017 — up 3.3 percent in January.

“They set a new post-recovery record. They were at 5.69 million sales in January, which is the highest since February 2007,” said Danielle Hale, the Managing Director of Housing Research at the National Association of Realtors.

According to Hale, the gains are a git of a surprise given that mortgage rates have been on the rise.

“Home prices continue to rise — prices were up 7.1 percent in January — and the combination of rising mortgage rates and rising house prices does provide an added challenge for potential buyers,” she said. “But we saw in January sales figures is that buyers are very resilient.”

But Hale added that job growth may be linked to buyer resilience.

“We think that the phenomenal job growth that we’ve seen that has been sustained for quite some time is really helping give buyers the confidence that they need to make the long term purchase that is a home,” Hale said.

As for nationwide trends, the positive numbers are evident across most of the country. Hale said the strongest region in this month’s data was the West, where sales were up 6.6 percent. The Northeast and the South also showed increases.

But, she said, “The only region that showed a bit of weakness was the Midwest, where sales were down, but only slightly.”

Analysts say it is difficult to determine whether January will set the tone for the rest of the year, but one thing that is apparent is low inventory, down 7.1 percent compared to a year ago.

“Inventories continue to fall even as sales are increasing,” she said. “That means that supply and demand are even tighter and that has a tendency to push prices up, so we do expect to see continued strong prices in 2017.”

Copyright © 2017, ABC Radio. All rights reserved.

Existing home price sales start the year off strong

Posted on: February 22nd, 2017 by ABC News No Comments

iStock/Thinkstock(WASHINGTON) — Despite rising mortgage rates, sales of existing homes started off at a strong pace in 2017 — up 3.3 percent in January.

“They set a new post-recovery record. They were at 5.69 million sales in January, which is the highest since February 2007,” said Danielle Hale, the Managing Director of Housing Research at the National Association of Realtors.

According to Hale, the gains are a git of a surprise given that mortgage rates have been on the rise.

“Home prices continue to rise — prices were up 7.1 percent in January — and the combination of rising mortgage rates and rising house prices does provide an added challenge for potential buyers,” she said. “But we saw in January sales figures is that buyers are very resilient.”

But Hale added that job growth may be linked to buyer resilience.

“We think that the phenomenal job growth that we’ve seen that has been sustained for quite some time is really helping give buyers the confidence that they need to make the long term purchase that is a home,” Hale said.

As for nationwide trends, the positive numbers are evident across most of the country. Hale said the strongest region in this month’s data was the West, where sales were up 6.6 percent. The Northeast and the South also showed increases.

But, she said, “The only region that showed a bit of weakness was the Midwest, where sales were down, but only slightly.”

Analysts say it is difficult to determine whether January will set the tone for the rest of the year, but one thing that is apparent is low inventory, down 7.1 percent compared to a year ago.

“Inventories continue to fall even as sales are increasing,” she said. “That means that supply and demand are even tighter and that has a tendency to push prices up, so we do expect to see continued strong prices in 2017.”

Copyright © 2017, ABC Radio. All rights reserved.

Calphalon recalls two million knives over faulty blades

Posted on: February 22nd, 2017 by ABC News No Comments

U.S. Consumer Product Safety Commission(NEW YORK) — Calphalon is recalling approximately two million knives over faulty blades that can break during use, potentially causing a laceration.

The products affected include Calphalon Contemporary Cutlery carving, chef, paring, santoku and utility knives that were sold in stores nationwide and online between September 2008 and December 2016. The recalled knives were sold both individually and in sets.

[ CLICK HERE TO SEE THE FULL LIST OF AFFECTED PRODUCTS ]

So far, Calphalon is aware of 27 reports of finger or hand lacerations, four of which required stitches. Overall, the company has received more than 3,000 reports of broken knives.

Affected customers are being asked to stop using the recalled knives immediately. They can reach out to Calphalon to receive a replacement.

Copyright © 2017, ABC Radio. All rights reserved.

Calphalon recalls two million knives over faulty blades

Posted on: February 22nd, 2017 by ABC News No Comments

U.S. Consumer Product Safety Commission(NEW YORK) — Calphalon is recalling approximately two million knives over faulty blades that can break during use, potentially causing a laceration.

The products affected include Calphalon Contemporary Cutlery carving, chef, paring, santoku and utility knives that were sold in stores nationwide and online between September 2008 and December 2016. The recalled knives were sold both individually and in sets.

[ CLICK HERE TO SEE THE FULL LIST OF AFFECTED PRODUCTS ]

So far, Calphalon is aware of 27 reports of finger or hand lacerations, four of which required stitches. Overall, the company has received more than 3,000 reports of broken knives.

Affected customers are being asked to stop using the recalled knives immediately. They can reach out to Calphalon to receive a replacement.

Copyright © 2017, ABC Radio. All rights reserved.

UPS tests launching drones from trucks equipped with battery chargers

Posted on: February 22nd, 2017 by ABC News No Comments

Courtesy UPS(LITHIA, Fla.) — UPS took one step closer Monday to using drones to deliver packages to its customers.

The world’s largest package delivery company used a drone to drop off a package at a home in Lithia, Florida, a suburb of Tampa.

UPS has tested drone deliveries in the past, but this week’s test was notable because it launched the drone from the top of a UPS electric van outfitted with a recharging station for the battery-powered drone.

Using such a van is key, because drones require a significant amount of battery power, so they can only stay in the air for a limited amount of time. Most drones can operate between 20 and 30 minutes.

According to UPS, the drone docks on the roof of the delivery truck. A cage suspended beneath the drone extends through a hatch into the truck. A UPS driver inside loads a package into the cage and presses a button on a touch screen, sending the drone on a preset autonomous route to an address. The battery-powered drone recharges while it’s docked. It has a 30-minute flight time and can carry a package weighing up to 10 pounds.

“This test is different than anything we’ve done with drones so far,” said Mark Wallace, UPS senior vice president of global engineering and sustainability, said in a statement. “It has implications for future deliveries, especially in rural locations where our package cars often have to travel miles to make a single delivery.”

He added, “Imagine a triangular delivery route where the stops are miles apart by road. Sending a drone from a package car to make just one of those deliveries can reduce costly miles driven. This is a big step toward bolstering efficiency in our network and reducing our emissions at the same time.”

Copyright © 2017, ABC Radio. All rights reserved.

UPS tests launching drones from trucks equipped with battery chargers

Posted on: February 22nd, 2017 by ABC News No Comments

Courtesy UPS(LITHIA, Fla.) — UPS took one step closer Monday to using drones to deliver packages to its customers.

The world’s largest package delivery company used a drone to drop off a package at a home in Lithia, Florida, a suburb of Tampa.

UPS has tested drone deliveries in the past, but this week’s test was notable because it launched the drone from the top of a UPS electric van outfitted with a recharging station for the battery-powered drone.

Using such a van is key, because drones require a significant amount of battery power, so they can only stay in the air for a limited amount of time. Most drones can operate between 20 and 30 minutes.

According to UPS, the drone docks on the roof of the delivery truck. A cage suspended beneath the drone extends through a hatch into the truck. A UPS driver inside loads a package into the cage and presses a button on a touch screen, sending the drone on a preset autonomous route to an address. The battery-powered drone recharges while it’s docked. It has a 30-minute flight time and can carry a package weighing up to 10 pounds.

“This test is different than anything we’ve done with drones so far,” said Mark Wallace, UPS senior vice president of global engineering and sustainability, said in a statement. “It has implications for future deliveries, especially in rural locations where our package cars often have to travel miles to make a single delivery.”

He added, “Imagine a triangular delivery route where the stops are miles apart by road. Sending a drone from a package car to make just one of those deliveries can reduce costly miles driven. This is a big step toward bolstering efficiency in our network and reducing our emissions at the same time.”

Copyright © 2017, ABC Radio. All rights reserved.

US stocks close higher, add new records

Posted on: February 21st, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed higher after the holiday weekend as the major indexes notched new records.

The Dow jumped 118.95 (+0.58 percent) to finish at 20,743.00.

The Nasdaq gained 27.37 (+0.47 percent) to close at 5,865.95, while the S&P 500 finished at 2,365.38, up 14.22 (+0.60 percent) from its open.

Crude oil prices were 1 percent higher; about $54 a barrel.

Winners and Losers:  Shares in Wal-Mart Stores, Inc soared 3 percent after its fourth-quarter earnings beat analysts’ expectations.

The weekend announcement that Kraft-Heinz Co. pulled its $143 billion merger offer for Unilever caused shares in both food companies to sink about 2 percent and 8 percent respectively.

Copyright © 2017, ABC Radio. All rights reserved.

US stocks close higher, add new records

Posted on: February 21st, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed higher after the holiday weekend as the major indexes notched new records.

The Dow jumped 118.95 (+0.58 percent) to finish at 20,743.00.

The Nasdaq gained 27.37 (+0.47 percent) to close at 5,865.95, while the S&P 500 finished at 2,365.38, up 14.22 (+0.60 percent) from its open.

Crude oil prices were 1 percent higher; about $54 a barrel.

Winners and Losers:  Shares in Wal-Mart Stores, Inc soared 3 percent after its fourth-quarter earnings beat analysts’ expectations.

The weekend announcement that Kraft-Heinz Co. pulled its $143 billion merger offer for Unilever caused shares in both food companies to sink about 2 percent and 8 percent respectively.

Copyright © 2017, ABC Radio. All rights reserved.

Wells Fargo fires four senior managers in connection with account investigation

Posted on: February 21st, 2017 by ABC News No Comments

Justin Sullivan/Getty Images(NEW YORK) — Wells Fargo fired four senior managers Tuesday in connection with an ongoing probe into the banking company’s sales practices.

In September, the company was hit with a $185 million fine from the U.S. government for opening over 1.5 million deposit and credit card accounts without permission from customers.  Wells Fargos said Tuesday that the board had unanimously voted to oust the current or former senior managers in community banking as the investigation into the scandal continues.

Claudia Russ Anderson, former community bank chief risk officer, was among those who were fired, as well as Pamela Conboy, Arizona lead regional president; Shelley Freeman, former Los Angeles regional president and now head of consumer credit solutions; and Matthew Raphaelson, head of community bank strategy and initiatives.

Wells Fargo said none of the executives would receive bonuses for 2016 and will forfeit unvested equity awards and vested outstanding options.

The investigation is ongoing, Wells Fargo said, but the company said it is expected to be completed before Wells Fargo’s annual meeting of stockholders in April.

Copyright © 2017, ABC Radio. All rights reserved.

Wells Fargo fires four senior managers in connection with account investigation

Posted on: February 21st, 2017 by ABC News No Comments

Justin Sullivan/Getty Images(NEW YORK) — Wells Fargo fired four senior managers Tuesday in connection with an ongoing probe into the banking company’s sales practices.

In September, the company was hit with a $185 million fine from the U.S. government for opening over 1.5 million deposit and credit card accounts without permission from customers.  Wells Fargos said Tuesday that the board had unanimously voted to oust the current or former senior managers in community banking as the investigation into the scandal continues.

Claudia Russ Anderson, former community bank chief risk officer, was among those who were fired, as well as Pamela Conboy, Arizona lead regional president; Shelley Freeman, former Los Angeles regional president and now head of consumer credit solutions; and Matthew Raphaelson, head of community bank strategy and initiatives.

Wells Fargo said none of the executives would receive bonuses for 2016 and will forfeit unvested equity awards and vested outstanding options.

The investigation is ongoing, Wells Fargo said, but the company said it is expected to be completed before Wells Fargo’s annual meeting of stockholders in April.

Copyright © 2017, ABC Radio. All rights reserved.

Uber hires former Attorney General Eric Holder to probe sexual harassment claims

Posted on: February 21st, 2017 by ABC News No Comments

Uber(NEW YORK) — Uber said on Monday that it is tapping former U.S. Attorney General Eric Holder to help conduct an investigation into sexual harassment claims made by a former employee.

Uber CEO Travis Kalanick announced the move in a letter sent around to company employees which was seen by ABC News.

The announcement came a day after Kalanick vowed to immediately investigate the allegations contained in a long blog post written Sunday by Susan Fowler, who said that she faced sexual harassment while working as a site reliability engineer at the ride-hailing technology company from November 2015 to December 2016, and that her complaints to management had gone unheeded.

In his note to employees, Kalanick said he hired Eric Holder, Attorney General under President Barack Obama, and Tammy Albarran — who are both partners at the Washington D.C.-based law firm Covington & Burling — to “conduct an independent review” of Fowler’s claims.

“I believe in creating a workplace where a deep sense of justice underpins everything we do,” Kalanick said in the memo. “What is driving me through all this is a determination that we take what’s happened as an opportunity to heal wounds of the past and set a new standard for justice in the workplace.”

The company plans to hold an “all hands” meeting on Tuesday to “discuss what’s happened and next steps,” Kalanick’s note said.

Fowler, who currently works for the online payments provider Stripe, wrote in her Sunday blog post that a manager of hers when she worked at Uber had sexually harassed her over online chats. She wrote that after she took screenshots of the conversation and sent them on to HR, no action was taken.

“Upper management told me that he ‘was a high performer’ (i.e. had stellar performance reviews from his superiors) and they wouldn’t feel comfortable punishing him for what was probably just an innocent mistake on his part,” Fowler wrote.

Kalanick on Sunday called the descriptions in Fowler’s post “abhorrent,” saying that the actions described have no place at Uber.

“I have just read Susan Fowler’s blog,” he said in the Sunday statement. “What she describes is abhorrent and against everything Uber stands for and believes in.”

“It’s the first time this has come to my attention so I have instructed Liane Hornsey our new Chief Human Resources Officer to conduct an urgent investigation into these allegations,” he added. “We seek to make Uber a just workplace for everyone and there can be absolutely no place for this kind of behavior at Uber — and anyone who behaves this way or thinks this is OK will be fired.”

Kalanick also posted his reactions to Twitter on Sunday, embedding a link to Fowler’s blog post.

2/ I've instructed our CHRO Liane to conduct an urgent investigation. There can be absolutely no place for this kind of behavior at Uber.

— travis kalanick (@travisk) February 20, 2017

Uber board member and Thrive Global CEO Arianna Huffington also promised a “full investigation” on Sunday and asked people to email her directly about the allegations.

According to Monday’s memo, Huffington, along with the company’s human resources chief, will attend the “all hands” meeting on Tuesday and will conduct “group and one-on-one listening sessions” to get feedback from employees.

ABC News could not independently verify the details of Fowler’s story.
 
Copyright © 2017, ABC Radio. All rights reserved.

Uber hires former Attorney General Eric Holder to probe sexual harassment claims

Posted on: February 21st, 2017 by ABC News No Comments

Uber(NEW YORK) — Uber said on Monday that it is tapping former U.S. Attorney General Eric Holder to help conduct an investigation into sexual harassment claims made by a former employee.

Uber CEO Travis Kalanick announced the move in a letter sent around to company employees which was seen by ABC News.

The announcement came a day after Kalanick vowed to immediately investigate the allegations contained in a long blog post written Sunday by Susan Fowler, who said that she faced sexual harassment while working as a site reliability engineer at the ride-hailing technology company from November 2015 to December 2016, and that her complaints to management had gone unheeded.

In his note to employees, Kalanick said he hired Eric Holder, Attorney General under President Barack Obama, and Tammy Albarran — who are both partners at the Washington D.C.-based law firm Covington & Burling — to “conduct an independent review” of Fowler’s claims.

“I believe in creating a workplace where a deep sense of justice underpins everything we do,” Kalanick said in the memo. “What is driving me through all this is a determination that we take what’s happened as an opportunity to heal wounds of the past and set a new standard for justice in the workplace.”

The company plans to hold an “all hands” meeting on Tuesday to “discuss what’s happened and next steps,” Kalanick’s note said.

Fowler, who currently works for the online payments provider Stripe, wrote in her Sunday blog post that a manager of hers when she worked at Uber had sexually harassed her over online chats. She wrote that after she took screenshots of the conversation and sent them on to HR, no action was taken.

“Upper management told me that he ‘was a high performer’ (i.e. had stellar performance reviews from his superiors) and they wouldn’t feel comfortable punishing him for what was probably just an innocent mistake on his part,” Fowler wrote.

Kalanick on Sunday called the descriptions in Fowler’s post “abhorrent,” saying that the actions described have no place at Uber.

“I have just read Susan Fowler’s blog,” he said in the Sunday statement. “What she describes is abhorrent and against everything Uber stands for and believes in.”

“It’s the first time this has come to my attention so I have instructed Liane Hornsey our new Chief Human Resources Officer to conduct an urgent investigation into these allegations,” he added. “We seek to make Uber a just workplace for everyone and there can be absolutely no place for this kind of behavior at Uber — and anyone who behaves this way or thinks this is OK will be fired.”

Kalanick also posted his reactions to Twitter on Sunday, embedding a link to Fowler’s blog post.

2/ I've instructed our CHRO Liane to conduct an urgent investigation. There can be absolutely no place for this kind of behavior at Uber.

— travis kalanick (@travisk) February 20, 2017

Uber board member and Thrive Global CEO Arianna Huffington also promised a “full investigation” on Sunday and asked people to email her directly about the allegations.

According to Monday’s memo, Huffington, along with the company’s human resources chief, will attend the “all hands” meeting on Tuesday and will conduct “group and one-on-one listening sessions” to get feedback from employees.

ABC News could not independently verify the details of Fowler’s story.
 
Copyright © 2017, ABC Radio. All rights reserved.

11 Travelers Pass Security at JFK Without Proper Screening: Sources

Posted on: February 20th, 2017 by ABC News No Comments

Stockbyte/Thinkstock(NEW YORK) — There was a security breach at JFK Airport in New York Monday morning after 11 passengers were able to pass through a metal detector that was not supervised by a Transportation Security Administration officer, sources briefed on the incident tell ABC News.

Three of those passengers set off the detector’s alarm and continued to their gate. Their carry-on bags were placed on a conveyor belt and screened by a TSA officer.

According to a statement from the Port Authority of New York and New Jersey, the incident occurred sometime between 5 a.m. and 6 a.m. at JFK’s Terminal 5 at a TSA PreCheck checkpoint. It took TSA two hours to notify the Port Authority of the security breach.

Sources briefed on the incident told ABC News that security camera footage clearly captured images of the three passengers who set off the magnetometer and later boarded a JetBlue flight to San Francisco. Those individuals were given extra screening upon arrival at SFO, according TSA and Port Authority.

JetBlue declined comment and referred ABC News to TSA.

In a statement, the TSA said there was a “possible security incident” and that “early reports indicate 3 passengers did not receive required secondary screening after alarming the walk through metal detector.”

“TSA conducted security measures at the passengers’ arrival airport. TSA works with a network of security layers both seen and unseen. We are confident this incident presents minimal risk to the aviation transportation system,” the statement added. “Once our review is complete, TSA will take appropriate action.”

Copyright © 2017, ABC Radio. All rights reserved.

11 Travelers Pass Security at JFK Without Proper Screening: Sources

Posted on: February 20th, 2017 by ABC News No Comments

Stockbyte/Thinkstock(NEW YORK) — There was a security breach at JFK Airport in New York Monday morning after 11 passengers were able to pass through a metal detector that was not supervised by a Transportation Security Administration officer, sources briefed on the incident tell ABC News.

Three of those passengers set off the detector’s alarm and continued to their gate. Their carry-on bags were placed on a conveyor belt and screened by a TSA officer.

According to a statement from the Port Authority of New York and New Jersey, the incident occurred sometime between 5 a.m. and 6 a.m. at JFK’s Terminal 5 at a TSA PreCheck checkpoint. It took TSA two hours to notify the Port Authority of the security breach.

Sources briefed on the incident told ABC News that security camera footage clearly captured images of the three passengers who set off the magnetometer and later boarded a JetBlue flight to San Francisco. Those individuals were given extra screening upon arrival at SFO, according TSA and Port Authority.

JetBlue declined comment and referred ABC News to TSA.

In a statement, the TSA said there was a “possible security incident” and that “early reports indicate 3 passengers did not receive required secondary screening after alarming the walk through metal detector.”

“TSA conducted security measures at the passengers’ arrival airport. TSA works with a network of security layers both seen and unseen. We are confident this incident presents minimal risk to the aviation transportation system,” the statement added. “Once our review is complete, TSA will take appropriate action.”

Copyright © 2017, ABC Radio. All rights reserved.

Mongolia and International Monetary Fund agree to bailout deal

Posted on: February 20th, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — In an attempt to climb out of intense debt, Mongolia has reached an agreement with the International Monetary Fund (IMF) on a $5.5 billion dollar bailout package.

Yahoo! News reports its main export, copper, has dropped in price by more than 50 percent over the past five years, and the development of mining the sovereign state’s wealth of natural resources has been delayed. Slowing growth in China, the country’s primary customer, has also contributed to the debt according to Yahoo! News.

Mongolia’s national statistics office lists the economy growing at 1.0 percent in 2016 while the debt skyrocket 3.7 trillion tugrik ($1.5 billion).

Yahoo! News additionally reports Koshy Mathai, the IMF’s Asia-Pacific deputy division chief, says the bailout will “restore economic stability and debt sustainability as well as to create the conditions for strong, sustainable, and inclusive growth, while protecting the most vulnerable citizens.”

Mongolia has a $580 million bond payment due in March and will receive a $440 million loan over the next three years.

Copyright © 2017, ABC Radio. All rights reserved.

Mongolia and International Monetary Fund agree to bailout deal

Posted on: February 20th, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — In an attempt to climb out of intense debt, Mongolia has reached an agreement with the International Monetary Fund (IMF) on a $5.5 billion dollar bailout package.

Yahoo! News reports its main export, copper, has dropped in price by more than 50 percent over the past five years, and the development of mining the sovereign state’s wealth of natural resources has been delayed. Slowing growth in China, the country’s primary customer, has also contributed to the debt according to Yahoo! News.

Mongolia’s national statistics office lists the economy growing at 1.0 percent in 2016 while the debt skyrocket 3.7 trillion tugrik ($1.5 billion).

Yahoo! News additionally reports Koshy Mathai, the IMF’s Asia-Pacific deputy division chief, says the bailout will “restore economic stability and debt sustainability as well as to create the conditions for strong, sustainable, and inclusive growth, while protecting the most vulnerable citizens.”

Mongolia has a $580 million bond payment due in March and will receive a $440 million loan over the next three years.

Copyright © 2017, ABC Radio. All rights reserved.