few retail situations, including neiman marcus and jcpenney, both of which we have reported have been in discussion with their lenders, trying to get together their bankruptcy restructuring plans in place. those have been delayed by days, by weeks, depending on how market conditions are changing, but we are expecting to see at week,nieman come this jcpenney probably right behind it. vonnie: were these bankruptcies like? waiting, if you we know that this has been in talks, and j. crew was pushed into it by private equity. so would this have happened anyway? katherine: you make a really good point there. these situations had been evolving and were kind of seeing trouble, writing on the wall before the pandemic hit. so with the store closures, that has put even more pressure on

like jcpenney, many of its problems preceded the pandemic..crew's bankruptcy filing came a few days before neiman marcus. all three companies said they intend to stay in business. of course when large retail stores struggle, the malls they anchor struggle too. and then there are questions about how the pandemic will change the way we all shop. for more on these issues, i'm joined by vicky brown. she's also the author of "from main street to mall: the rise and fall of the american department store." welcome to you, thank you so much for joining us. >> you're welcome. >> j.crew and neiman marcus and just this week jcpenney. some of our international viewers may not know it, but most of us who grew up here know jcpenney very well. what do losses like this signal for the future of department stores? >> well, jcpenney, it's in every shopping mall across the united states and it's a company that has a long history. it's an over 100-year history like sears which has faced troubles. besides the fact that it employs tens of thousands of people, it anc

that will be many more layoffs, as well, for people who work at jcpenney.hose retailers who were weak going into the pandemic will not be able to survive and those who were stronger have a much better shot at coming through this possibly stronger than before. >> in a filing like this, what happens to the 85,000 employees of jcpenney? >> that is still to be determined. we'll have to see who might want to buy up some of jcpenney's assets and when they do, will they keep those workers on? but right now, we have 30 million people applying for unemployment benefits actively every week. that number could rise by quite a lot. perhaps a few more thousand once jcpenney decides how many stores it's going to close. >>> the sound of silence. a few sports are returning to action this weekend, but without fans in the stands. >> and believe it or not, the search for solutions against coronavirus is going to the dogs. how they might find a new weapon in the battle against a pandemic. a new weapon in the battle against a pandemic uh uh, no way come on, no no n-n-n-no-no onl

crew's and jcpenney and neiman marcus, is the amount of debt. when you have debt it constrains your ability to use the money you are making to build up things like internet presence and improve stores, things like that. the fact of the matter is there has been a transition how we shop. people are increasingly going to the internet to buy things. everything from the staples to cars. people are buying cars over the internet now. of your retail merchant now, the number one thing you have to have is a good balance sheet which crew, jcpenney's and neiman marcus do not have. then you have to have a strong internet presence, which they do not have either. and then you add in the complete collapse in demand because of the pandemic, it's a tough place. jcpenney's, neiman marcus, sears all will declare bankruptcy in the near future. >> when you don't go in something like this with solid financial footing, it's stuff to make it through. appreciate your time. >>> tracking the coronavirus. of the new resource available starting today to provide a real view o

jcpenney plans to close 240 stores.hen jury selection in a case outside dallas was held by video conference. arizona will also allow jurors to be selected remotely as courts deal with a huge case backlog. >> you may soon be able to test for covid-19 with your smartphone. a utah researcher says he's working on a sensor about the size of a quarter, you sneeze o fortunately, this one stcan handle it all. shop lowe's for free delivery and save on a new whirlpool refrigerator. discover what's possible at lowes.com. ♪ ♪ ♪ >>> good tuesday morning. time is 4:43 a.m., and we are in store for a pretty nice day but we are tracking a couple isolated showers early this morning. live doppler 7 showing you in the east bay, we have been watching a lone shower over union city and hayward just static, and it should rain itself out over the next 15 minutes or so. look at the day planner today. mix of sun and clouds early on, and throughout the afternoon there's a chance of a shower but it's mainly in our hills. temperatures in the mid-60

jcpenney and amazon made no comment about any possible deal. >>> our time is 6:18, the united states is in the middle of a bicycle short is, people started buying bikes at that beginning of the national lockdown, to get some exercise and avoid public transportation. the new york times said sales of leisure bikes around the country, has more than doubled since last year. and most shops are sold out of bikes, that cost less than $1000. cities like oakland, have closed down streets to cars, to give people more space to get outside while social distancing. in seattle they planned to permanently convert 20 miles of road into bike use, bike only use. >>> let's talk about traffic right now, sal is watching what is happening on the roads early this morning, sal? >> all right dave, thanks. we do have traffic that is going to be okay out there, i am looking at some of these slowdowns though, and the big one is 580 coming up over the past, i want to show you, we had a crash at grant line road and it could be part of the reason, but just after watching for a few days there is a lot of traffic. e

that's how many of its stores jcpenney will close as part of the bank rruptcy plan. 200 stores this year >>> welcome back and good morning. dow futures were moving with a little bit of steam. futures coming off the best day in little more than a month. we'll keep an eye on that. speaking of dow components, a big shake up at disney disney's streaming boss is leaving to become the ceo of tiktok once considered to be a candidate for the top job at disney but says this move has nothing to do from being passed over for bob chapek. disney has named rebecca campbell to replace meyer. owned by the chinese company bite dance he'll also become the chief operating officer for bite dance as well. speaking of china, the nasdaq is planning to tighten rules which could make it more difficult for chinese companies to list their stocks on the nasdaq reuter's says the rules would require countries to raise some $25 million minimum in their ipo. the rule is not directly targeting chinese companies but comes after lucken coffee disclosed some had issues of sales. other chinese companies have been d listed o

news of a possible purchase comes days after jcpenney filed for chapter 11 bankruptcy and yesterday jcpenney announced its closing 242 stores across the country. they have not yet released a timeline for that or the exact locations. you. >> thanks. >>> a grub hub user trying to support a local pizza shop said she got an undercover version of chuck e. cheese instead. she placed a order from paw squally's pizza and wings. but the pizza was from chuck e. cheese. the rebranding comes from the fictional pizza chef from chuck e. cheese, the chuck e. cheese universe that i just found out existed from our own reggie aqui. >> justice for pasqually. >> for a minute, i thought it was not an ipad. i got nervous real quick. >> would we be surprised? >> no think so. >> in my two years working at chuck e. cheese, i could have bought any merchandise or perhaps lifted any merchandise while i was there, and the only thing i took was mr. pasqually, because nobody used their tickets to get it and i felt, what, compassion. >> i tried the skeet ball trying to get a night bright, and i never got it. >> nobody ever

as jcpenney announces more store closures, could amazon be coming to the rescue? >>> allegations of public nudity and drinking. the hazing scandal rocking a top college cheerleading program. >>> high-stakes gamble. the drunk suspect throwing his safe full of cash out the window. ♪ i want to ride my bicycle ♪ i want to ride my bike >>> and two-wheeled trouble. americans looking to ride their bicycle could be pedaling into a problem, a shortage like we've never seen before. ♪ i want to ride my bicycle >>> good tuesday morning, everyone. we're learning more about president trump's decision to take an anti-malaria drug after a white house staffer tested positive for coronavirus. >> the president's doctor has released a new memo. meanwhile, in a late night tweet, president trumpreat to th organization. the president now saying if the w.h.o. doesn't commit to major improvements in the next 30 days, he will permanently cut off u.s. funding for the organization. >>> also today, a new warning to all those gyms here in the u.s. that are re-opening. a coronavirus cluster in

now i see jcpenney is halted for news >> yeah.all know what that news unfortunately is going to be for jcpenney. a bankruptcy filing is widely expected for the retailer. we've been following jcpenney's fortunes for years now they haven't been good we made the point that this crisis accelerated many things that may have happened including a bankruptcy filing on the part of jcpenney, which is expected as early as today. you can go back to 2011, 2012 frankly, remember it when ron johnson, the man that bill ackman brought in to become the ceo of that company introduced his new strategy it was in january of 2012, appeared on the west side of manhattan, and it was downhill from there for jcpenney. that strategy failed, and the company never fully recovered or never did recover. you can see that period, '11 and '12, where the stock was and what happened since then it accelerated something that was likely to take place it is a bit different than the bankruptcies of j. crew and neiman marcus, two other well known retailers, both of which w

marcus,w, neiman jcpenney all filed for bankruptcy.s person thinks her company is well-positioned to gain market share. jp percent -- jcpenney is closing one in four stores. the stores are still important to consumers. the other department stores could win over those customers in areas where jcpenney [indiscernible] shery: thank you, joining us with the latest on the retail earnings out of the u.s. we have breaking news. we are seeing that brazil had 17,408 coronavirus cases. this would be a new daily record area when it comes to the number of deaths in the past 24 hours, a new record of 1179. brazil has been emerging as a new hotspots. we are talking about their new cases accounting for 13% of new cases globally in the past week. now we see the new records, whether it is new cases or deaths around brazil which has the third largest number of cases in the world. now the business flash headlines. haso as outperform -- baidu outperformed. signaling a return to growth this quarter. sales fell 7% to $3.2 billion in the march quarter. they

jcpenney could file for bankruptcy. the numbers were lower, we will have your business news and the very latest numbers throughout the mornings on mornings on fox 2. i am pam cook. >> i am dave clark. steve paulson is right here, talking about how today should be relatively nice. i just came back from checking outside for you. the clouds are outta there, and, it is comfortable. we know that something is coming. >>> today will be the best day by far, for many, this is a big system. it is a day and a half away. it will be warmer on friday, highs set to the upper 70s. mostly sunny, until late saturday to the north. santa rosa is at 48. mid-50s. here is your system. the main front comes in saturday and sunday, then the lower left to go to the bay area. that is going to give us a wide variety of weather, 60s and 70s that, where we should be. let's go over to sal, he made the point that he has noticed a little bit, picking up, is it quiet? >> it is quiet. at the pass, and the past few days we have had slow traffic here. there

have you ever bought anything at jcpenney, vlad?g into it with my grandmother and getting tuf skins jeans. that's when i learned there was a size known as husky. that was my size. >> i do remember. i do remember, vlad. >> i do, too. >> i will not get into why i know, but i know. what have you gotnext? >> all right. good story here. nascar driver ryan new man is sharing details of his fiery crash at the daytona 500 in february. the 42-year-old was hospitalized for two days with serious but non-life-threatening injuries. newman was leading the final lap at daytona when his car spun and went airborne, flipping several times. newman says he feels like a walking miracle. take a listen. >> i really don't have any recollection of the last lap and everything after that until i walked out of the hospital. there was multiple miracles, big miracles and little miracles in my opinion that aligned for me to be able to walk out days later with my hands around my daughters. >> gayle, i love his attitude. it reminds me of an edgar allan poe quote wh

bankruptcy not stopping jcpenney from launching a new home brand.etail chain says its new chained represents a fresh new beginning. $40, quilts and comforters range , but this comes as jcpenney plans to close nearly 30% of its stores. so perhaps rebranding a little bit, restyling stores and the look of the company, that's a look at your dollars and cents. let's go back to gasia and dave. >> thank you. time now is 7:50. >>> there is a new poll out by usa today that says, one in five teachers say they are not likely to go back to school if their customs reopened in the fall. 82% of teacher surveys say they are having a hard time doing their jobs are now. distance learning is making students fall further behind. >>> teachers across the bay area really stepping up to help with distance learning. ktvu is so proud to highlight incredible bay area teachers making a difference. this morning, a round of applause goes to mrs. bailey, a special-education teacher at ortega. mrs. bailey, "has always gone above and beyond, she has never missed weekday circle time

you know, i mean i got my first prom dress at a jcpenney, haircut and pictures too.o important for rural families and to see that -- to see its demise in bankruptcy, it will try to make it on the other side but has competition from walmart and target and amazon and online, all kinds of online shopping venues. how many -- how many stores like that will you have in a shopping mall when the experience has been changes. turf road ahead for jcpenney. >> you had me thinking of my own family memories of going to get pictures there as well. unfortunately, the big stores as well as small mom and pop stores are suffering. there were another 3 million new unemployment claims last week. not good news but it is at least a number lower than initial filings in the previous weeks. what does that tell you. >> these numbers are still mind blowing but you're right to look at the trend and every week has been a little bit less horrific than the week before. what it tells me is those early layoffs of retail workers, restaurant workers, bar workers, people who work in hotels, those are pr

. >>> jcpenney is in the middle of there are times when our need to connect really matters.o keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. >>> all right. let's take a look at our savior that area of low pressure will acc accelerate towards us friday and then right on top of us saturday with the north bay having the best chance of significant wet weather. but outside of that, the potential for thunderstorms and if the rain evaporates before reaching the ground and the lightning doesn't, that's what heightens our fire danger. once we get through the heat wave, we'll focus more on much-needed rain especially across the north bay and the threat of wildfire for the rest of us. it

another iconic department store falls victim to coronavirus, with jcpenney filing for chapter 11 andlanning to close some stores permanently. this as some grocery store workers and employees at other american giants get set to lose the hero pay they've been receiving for the passed two months. >>> start your engines. nascar back in action this weekend and racing fans can't wait, even though they have to watch from home. but how will they keep the drivers and their crew members safe? the president of nascar will join us live. >>> all of that, plus mission to space. the u.s. space force making history this morning, launching a secretive plane into orbit for the first time ever. the mission and what it hopes to accomplish. today saturday, may 15, 2020. >>> from nbc news this is "today" with peter alexander, kristen welker and dylan dreyer. >> welcome to "today". thank you for joining us on this saturday morning. it is the weekend, whatever that means anymore. we are glad to have our friend dylan back of course as well. >> the days are all blending together these days. this is only your

jcpenney obviously stands out, but others on the edge. looking at them and saying the future for them will look different? oliver: it will look different. today, spoke to kohl's thinking about clothing, how you try it on, return it, that is ke a key consideration. curbside pickup, a lot of the grocers were early to that, but others are having to execute quickly. rethinking safety. safety has been one of the most important topics for both employees and customers. dwefer experience is less ll time in a store, less traffic. how do you rethink your whole story experience in terms of safety? that is happening as we speak. these are changes that we will see unfold. i also think size income inventory, management, the need for speed, vendors across the supply chain -- a lot of pressure. retail was under pressure prior to covid but a lot of those trends have accelerated. shery: great to have you with us, oliver chen. coming up, loaded with cash and ready for action. we will discuss the biggest real estate investors standing by to take advantage of

do you see anyway of survival for jcpenney >> this is not a shock here.the inevitable is accelerated. i think they exist in a smaller format, maybe 150 stores i think the department store space in general, may we see that going forward maybe macy's looks like 200 and not 600 going down the line. those are the all-important anchors for the malls. the nature of retailers will change as we see these outdated formats as they are forced to shrink themselves due to coronavirus. >> and not just the stores but the brands that are prominent in those you mentioned. maybe ralph laurens and others >> that's the thing here you think about all these brands, ralph lauren, under armor. all of these have huge expose you're to the wholesale channel, department stores or even kohl's these guys have 40% of their business inside of these doors and they just disappear. you can't transition to dct or direct or on line faline fast eh all of these brands that have worked so hard to get out of the off price channel will run back in to get rid of inventory, which is incredibly dama

jcpenney filed for bankruptcy protection last friday night.ported talks from either company. >>> a dog named moose is now a doctor. >> moose is a labrador retriever. he's been a therapy dog at virginia tech for six years. now moose has been awarded a doctorate in veterinary medicine for the comfort he's provided to thousands since 2014. he's now officially dr. moose davis, put respect on his name. his brother derek also works as a therapy dog at the school. moose has helped in more than 7,500 counseling sessions and over 500 outreach events in his six years at virginia tech. >> you know what else, mona? dr. moose davis also is a cancer survivor. >> what? >> diagnosed with prostate cancer in february, just after his birthday, and began a treatment regimen of chemotherapy, other radiation, he's amazing. >> you know what else? he's cute. he's really, really cute. >> and for those lady dogs out there, he's got a brother named derek who's also doing big things in the dog pound. bow wow wow. >> southwest virginia. >>> coming up, the new concerns abo

and neiman marcus, jcpenney are reported to missed interest payments setting them up for restructuring in bankruptcy court. cap which operates six chain brands and 135,000 employees in 43 countries, mostly in the u.s., has stated that some of his stores may not reopen. >> without a strong financial position and willingness to get the landlords to give them relief many retailers will downsize or disappeared there are questions about whether consumers will go back into stores. >> this will continue through this year, even if we get some relief come summer. >> the big picture? >> we will not have av type of recovery everyone would like. it's going to be more an extended you type of recovery. that does not favor the brick and mortar retold retail store. >> so much of the economy depends on retail, that will slow the recovery down. >>> coming up, san jose's police chief said he is proud of his officers. new information coming out about it deadly police shooting of a stabbing suspect. a father of three with a fourth child on the way dead because of a dispute with a neighbor. why sheriff's de

jcpenney has a deal with moet of its lenders.asn't been put out. >>> new leases for apartments in manhattan plunged by 71% in april. the lowest in a doecade. the sharp decline shows residents are leaving the city in the wake of the virus. report notes landlords are working to keep tenants when they renew their leases. >>> apple has released guidelines for its retail stores that it plans to reopen. customers will be required to submit to a temperature check and wear a mask. apple will give masks to customers who don't come with one. it will limit the number of customers in at a certain time. >>> because of rules restricting visitors at health care facilities, john lynch had to say a final good-bye to his father on face time. his father's death inspired him to help others isolated elderly patients connect with their loved ones. through his foundation, lunch with lynch, he's going to dozens of donated ipads to distribute at health care facilities at his home state in new jersey and across the country where patients are unable to see

. >> reporter: with the jc crew filing for bankruptcy and jcpenney on the brink, wandering the mall may not be dependent on reopening. >> none of this means anything if customers do not feel safe. and if employees do not feel safe. >> reporter: this all depends on the bay areas shelter-in- place order. those rules have not been set to loosen in san francisco. there are still questions to be had as to when other malls can rejoin the reopening.andria borba, kpix 5. >>> as for restaurants the key rules are cleanliness and distance. that means constantly cleaning common areas, suspending the use of shared items like condiments and menus. and keeping tables a six feet apart. the governor said the date of reopening the dining rooms is up to the county's. and that could be a while for the bay area. >>> santa clara county will continue to keep businesses close through the end of the month. san francisco will reopen some businesses on may 18th with modifications. los angeles county, the public health director says the stay- at-home order will last through july. >>> other updates from the governo

jcpenney approved a multimillion dollar bonus for several top executives, recently, jcpenney missed twopayments worth almost $3 million combined, the company says the bonuses are a way to keep top talent that the executives will need to pay back 80% of the bonus if they resign before the end of january 2021, and the rest of the bonus if they don't meet specific goals. uber making changes to its right hailing and food delivery services, starting monday, uber will limit the number of passengers and cars and begin using its selfy technology to verify the drivers are wearing masks. drivers will have a checklist to confirm that they do not have symptoms, that they sanitize their vehicles regularly, and wash their hands passengers drivers told workers in restaurants will also be able to report any unsafe behavior or lack of proper protocols for social distancing, the simply says is already required 20 million mass and distribute 5 million of them to drivers. businesses across the country are using science to help flip the new safety protocols and for staff and customers and that is keeping pr

jcpenney plans to close 30% of its stores. they will close 200 stores this fiscal year and 50 more next year as it looks to turn its business around. they have yet to identify which stores will be closed and how many employees will lose their jobs. last bankruptcy came years after declining sales for jcpenney. >>> the latest local tech firm allows employees to work at home. ceo jack dorsey will allow the square employees to work at home. it fouls a similar policy announced by twitter the other san francisco firm led by jack dorsey. >>> at the back plans to bring back its employees. the ceo estimates 30% capacity with as many as 60% rotating in the office, maybe once a week he said. he made that on the verge cast podcast. >> the senator is the secretary in the federal reserve chairman appeared before a senate committee today answering questions about the federal government's response to the economic impact of the coronavirus pandemic. fox's lauren blanchard with the latest. >> vice president pence and secretary nation meeting w

we are waiting any moment on a few retail situations, including neiman marcus and jcpenney, both of which reported have been in discussion with their lenders, trying to get together their bankruptcy restructuring plans in place. those have been delayed by days, by weeks, depending on how market conditions are changing, but we are expecting to see at week,nieman come this jcpenney probably right behind it. vonnie: were these bankruptcies like? waiting, if you we know that this has been in talks, and j. crew was pushed into it by private equity. so would this have happened anyway? katherine: you make a really good point there. these situations had been evolving and were kind of seeing trouble, writing on the wall before the pandemic hit. so with the store closures, that has put even more pressure on these retailers that were seeing sales decline before, and were also dealing with heavy debt loads from leveraged buyout's years ago. neiman marcus is one that negotiated a debt deal with their lenders last year, and 2018, actually, that gave them some time. since then, things have accelerated.

women's wear daily, not something i quote on, amazon is looking at jcpenney as a purchase.ready owns whole foods. the magazine says there are amazon executives at penney's headquarters as we speak. square the latest to tell workers they can stay home forever, work at home forever if they want to. twitter did that, too. they share the same ceo in jack dorsey. >>> and then history made in texas as they conducted a trial on zoom and posted the whole thing to youtube live. now we have video of this, but we were so surprised that a texas court would post the video of jurors, which it would never do in california. we're waiting for our own lawyers to wake up and depp side whether or not it's something we can show on tv. marcus and laura, they had a lot of trouble -- one woman was sideways in the zoom panel. another man left to go take a phone call in the middle of the whole thing. the judge is like, mr. smith? mr. smith, we need to you come back to the jury. it's fascinating to watch. if we can show it to you, we will. >> very interesting. thanks, scott>>> we have some new detail

. >>> jcpenney could file for bankruptcy protection this week , jcpenney stores are closed because of the pandemic, but the department store chain has struggled for several years. they are for billion dollars in debt. they report say 800 stores could close permanently, a spokesperson is not commenting on the reports. >>> apple will reopen their stores and the u.s., but with restrictions. six stores will reopen in south carolina, alabama, alaska and idaho. alabama will have safety protocols in place, customers coming into the store will be given one, and social distancing will be required. stores will limit the number of people inside and temperature checks will be given to employees and customers. >>> storeowners say that they have received threatening letters over late rent payments during the pandemic, according to the independent journal, the letter says that a failure to pay overdue rent within five days would be considered defaulting under the terms of the lease, legal experts say the letter violates a resolution that was adopted by the board of supervisors that would prohibit la

i mean, if you think about it, jcpenney had, is, you know, is in bankruptcy. they had an 85,000 employees i mean, josh mentioned it, where are all of these people going? there are so many jobs that are going to be lost, i don't see how things are going to go back to where they were >> you mentioned jcpenney. we got news today, neiman marcus and its filing so how do you view that? what opportunities are there for you? >> i think there's quite a bit it's still a bit early, because you need to see what the restructuring is, but i think on the retail side, that's getting decimated, obviously you're seeing the same thing on the aviation you're seeing the same thing on sort of travel and leisure automotive, i mean, hertz is looking at filing. you're going to continue to see this the technology side, you know, that area is doing well. and i don't have any qualms with that, but i think you're going to sort of see that you're going to have a lot of these situations coming up over the course of the next year. >> you mentioned you're raising a new fund, which you said a

days after filing for legacy, jcpenney says they plan to close nearly 40% of their stores.stores this fiscal year, and 50 more next year while they try to turn the business around. jcpenney has had to name which stores will be permanently closed and how many employees will lose their jobs. last week's bankruptcy filing came after several years of declining sales. >>> a bay area cafe and bakery that is been in business for decades, has been forced to close its doors for good. the covid-19 pandemic forced specialties to shut down, and today was the last day. the company's been a business for 33 years, with more than 50 locations across three states. many locations are in the bay area, and headquartered in pleasanton. the company said any orders placed in advanced past today's date will be refunded. >> if you graduating senior, today's your day to get free doughnuts. krispy kreme give out free doughnuts to graduating high school and college seniors, students who could prove they were set to graduate got a free dozen doughnuts. to claim the offer, had to wear their cap again wi

jcpenney the latest major retailer to file for bankruptcy. >> that distance from there over to there feet. >> reporter: gyms like super fitness in toledo, ohio, set to open soon installing plexiglas and temperature scanners, banning anybody with a fever and blocking off equipment to force social distancing. >> whatever the governor says, that's what we're doing. >> reporter: some gyms in other get a reservation to work out. in arkansas, at least one venue giving us a look at what concerts could soon be like. a show for country singer travis mccready slated to have temperature screenings, sanitation by fog and limited bathroom occupancy. plus, they only ticketed a third of the seats. >> i certainly hope it's not this way forever. >> reporter: now while beaches are re-opening, there are several restrictions in place, and that's going to be the case for memorial day, for example, no concessions for sale. they don't want people waiting together in line. as far as concerts go, one venue in missouri had live music but you could say they had "footloose" restrictions. no standing and no danc

. >>> plus, might amazon buy jcpenney? legal history made in texas. let's take you to new york city and the futures. rock 'n' roll day yesterday on wall street. not so much today. ♪ >>> harry styles releasing a video for a hit song. we'll show it to you next and why you may want some watermelon. mrs. walker. michael vasquez! come over here. i've heard such good things about you, you this is for you. michael, you didn't have to... and, we're going to need some help with the rest. you've worked so hard to achieve so much. perhaps it's time to partner with someone who knows you and your business well enough to understand what your wealth is really for. >>> right now it's 6:14. this road downpour happening in parts of the east bay from union city down to milpitas. i'll be watching out for this kind of weather pattern where random showers pop up. more on that in a few minutes. >>> good morning. very happy tuesday to you. today two of the most important people running the american economy will meet together and talk to the senate today. treasury secretary s

with j.crew filing for bankruptcy and jcpenney on the brink, more troubles could be ahead. >> none of this means anything if customers don't feel safe and none of this matters if employees don't feel safe. >> reporter: of course the bay area has a more stringent shelter in place order superseding california but many in the bay area are looking forward to may 18 for a partial reopening and some curbside pickup. it's unknown at this point if malls will be included in that cohort. >>> alameda county has ordered tesla to shut down its fremont facility but ceo elon musk is not backing down. tesla workers are back on the job today but the big question tonight is if tesla is disobeying county health orders, will they face penalties? one county supervisors tells us it's complicated. >> the last thing i would want is a visual of elon musk in handcuffs, having said that, i think any penalties or anything that could come forward would certainly come from the district attorney. >> reporter: a tesla employee who asked to remain anonymous told kpix 5, workers feel like they are in limbo while the c

. >>> jcpenney is in talks to secure $450 million in financing ahead of a bankruptcy filing. sources say options include letting the retailer get half of the money up front and the rest if it hits certain milestones while in chapter 11. they are working on a plan to close 180 to 200 stores, has 850 department stores and roughly 90,000 full and part-time workers. walmart and sam's club giving bonuses, awarded in june. full-time workers will get $300 and part-timers will get $150. walmart announced it would hire an additional 200,000 workers to keep up with consumer demand during the pandemic. back over to kari hall with more weather. >>> thank you, frank. they so need that bonus right now. let's check out our forecast as we're getting a bonus amount of rain here in the bay area right before we head into the dry season. i'll have a look at this storm arriving up next. >>> and bonus with the rain comes slick roads, so we'll see how that's playing out, and whether or not our crews are out there getting wet. they work hard no matter what's going on. we're here for you and we're op

jcpenney is signaling it may not be far from it. missed another interest payment of about $7 million yesterday, the second missed payment in just the past month. for many companies, the letdown just made pre-existing problems even worse. the amount of debt the u.s. testified as distressed rose almost 61% in the last two months. washington is still tossing out life preservers to select industries. still, corporate bankruptcies are on track to match the 2009 level. coming up, we will dig deeper into the key data points you need to watching today's jobs report with constance hunter, kpmg chief economist. to highlight some of the big movers of the morning, i did want to highlight uber. they have terrible earnings, but they see the business starting to recover. they see their first decline ever in rides, but say maybe we have passed the trough and we are getting a little bit better here. some of the other movers we are seeing, we have carnival up by about 3%. some of the beaten-down names trying to rebound as we head into that jobs numbe

jcpenney is consisidering bankruptcy. are growing at food banks like at this one in las vegas as unemployment numbers go to levels not seen since the great depression. gerhard: time for a quick look at the other stories making headlines today. boeing will restart production of the 737 passenger jet before the end of this month. they had been grounded since march last year after being involved in two crashes which left 346 people dead. questions over safety have been affecting their bottom line before the business was hit by the impact of the coronavirus. more than 260 people have been killed in eastern africa by heavy rain. kenya, somalia and ethiopia have been it. in india 15 people have died after a train plowed into a group of migrant workers who had fallen asleep on the railway tracks. they had stopped to rest while trying to make their way home on foot after losing their jobs because of india's coronavirus lockdown. an outbreak at a meat processing plant has turned one spot in germany into a coronavirus hotspot,t, de

even jcpenney is still closed. they filed for bankruptcy last week. host: would you go down to the beach? caller: i drove by. it looks very good. we are concerned about spreading the virus. i just want to mention, since i cannot see you, i listen to you on the radio. your voice is identical to pedro. has anyone told you that? i don't know whether it is john or pedro. host: i will tell pedro you said hello. another john from memphis, tennessee, calling in. an essential worker. what kind of work are you in? caller: i work at kroger. i do stocking. i make sure things are in the place when you need them. host: do you feel safe at that job? have things changed at all in tennessee? are you still getting the same volume you are getting when it was just the essential workers who are on the job? caller: it has taken an upturn in the past couple of weeks ever since the reopening. i guess i don't want to dismiss, but it is like a zombie thing in so far as one person comes in without a mask. they are just getting their things. i can be safe. i cannot be lucky bec

some of the big chains like jcpenney and macy's, they will reopen next week. locally owned businesses like slime world, yes, they do make customer slime for kids' parties and the like are opened and preparing to see customers again. >> i started getting butter flies, oh, my gosh i am going to see my regulars again. what did i used to say to bring them in. >> reporter: last night the county health officials announced barbers and salons wll be allowed to reopen starting today. >>> bart announced 15 steps and plans to make trains safe for people to commute to work. cornell barnard has the story. >> reporter: if you haven't ridden bart lately, you are not alone. the system has been carrying essential workers but many trains have been rolling early. >> ridership is starting to come back right now. >> reporter: the general manager says for the first time in a long time ridership is up 30%. >> we were carrying around 24,000 ritzers a day. idea we carried 32,000. >> reporter: bart unveiled a new plan to keep its new and returning riders safe. here's what they are doin

. >>> are you ready to eat >>> jcpenney has become the latestaityof the coronavirus pandemic. the department store chain has filed for chapter 11 bankruptcy protection. the company racked up an unsustainable amount of debt in recent years. this comes years after declining sales as well. >>> a live look at sfo where terminals have certainly looked like ghost towns lately. passengers afraid to fly because of the coronavirus. air travel is down 90 percent. a reporter on one carrier's plan to abandon social distancing and pack their planes. >> reporter: cbs news has learned at least one major u.s. airline is seriously considering dropping it social distancing policy. the airline would go back to its pre-coronavirus practice of making all seats on all flights available for purchase. frustration is building in the airline industry over the seemingly daily social media outcry from passengers overflights they perceive as to crowded. there are no federal guidelines or mandates for social distancing on a plane, so each airline has adopted its own different policy which adds confusion to

also, jcpenney. it is not just retail hurting. restaurants and bars are closed.ndingdo in that sector i sharply. groceries is one of the few areas whater hee p meoorple.e there wa a y,fosithe sdechiurs s i tndustrl drop.h showed an 11% it was a sharp decline. what we are seeing is that orelfateedfoinie-pctlace os rded a terrible effect. if youoo athat is having a knock on effect. anchor: the economic news out of germany is not great either. europe's biggest economy is in recession after shrinking by more than 2% in the first quarter of the year because of it is germany's biggest slump sinces he financial crisire than a decade ago. the u.k.hief brexit negotiator david frost said little progress has been made in the latest talks with the e.u. on fu aad tmehe e.u. of including unfair agreements that would bind the u.k. michelle garnier described it as unfair. unconvinced about the wisdom of sending more pupils in england back to school after meeting russia launched a mass screening srogram for coronavi antibodies the hope is results would allow authorit of lockdn.he

j.crew, nordstrom filing for bankruptcy, j, j, jcpenney looks close.ood news possible next week? >> i think what we're just looking for is the companies reporting, companies like walmart, target and home depot to just tell us a little bit about what's happening in may. the numbers we just got were from april, last month. we're already halfway through may, and we want to see are shoppers returning, are they starting to spend on things other than essentials like food. jack: jack, you referred to this as the grizzly-locks economy. >> yeah. it had to be good enough to keep investors happy but not so good you have inflation. now i think it has to be bad enough that the fed keeps interest rates at zero but not so bad that you get some sort of system ec collapse or banking problems or stock market crash. and i think we're at the right level of bad to keep rates at zero and keep stocks continuing to move higher. jack: meanwhile, seems almost like a strange thing to be talking about right now, but the movement continues toward 5g, not really necessary with wi-f

. >> reporter: jcpenney is the latest major retailer pushed to bankruptcy by the pandemic. it will close some of its 850 locations. >>> all that -- >> a dog out for -- >> big dog -- >> rollerbladinrollerblading. >> a great dog. >>> that you will matters -- >> these two golden retrievers, hugo and huxley, learned about the old-school game whack-a-mole but with carrots. eventually one of the two was able to outsmart the game -- >>> on "cbs this morning saturday." ♪ i can almost see it that dream i'm dreaming but fa hollywood stars to celebrate the class of 2020. >> all right. all right, all right. >> don't let no virus, no nothing take this special moment from you. >> a commencement address from oprah winfrey. >> even though there may not be pomp because of our circumstances, never has a graduating class been called to step into the future with more purpose, vision, passion, and energy and hope. ♪ >> this morning's "eye opener" is presented by toyota. ♪ >> congratulations, class of 2020. we know it's been a year unlike any other, but we are thinking about you. >>> welcome to

now, jcpenney may get that bailout, not for the brand, but might have amazon stepping into that void. a lot of that will be happening right now and a lot of that is exactly what you would expect in this kind of a reemergence by the consumer >> if that's the case, you agree with tom lee, we'll hit new highs this year. is that what you're saying >> yes, sir, that is what i'm saying and i said weeks ago that we would not get back down there and re-test that bottom after we saw what we saw. when we saw the second wave of funding, both by the fed, as well as congress, scott. i think those, as well as us being trapped in our homes and now finally being released, that is going to be what really drives us. >> so, tom lee, i mentioned this big sector call you have, bear with me one second i want to get to tom on this sector call. you think there's something really significant going on in energy, tom. which has obviously come a long way off the bottom but where does it go from here and why? >> i know it sounds strange, but we've been mystified energy stocks bottomed five days before the s&p bot

crew, neiman marcus and there is speculation as to what will happen next for the department store jcpenneyill happen next for the department storejcpenney. we know restau ra nts a nd bars department storejcpenney. we know restaurants and bars are closed so spending and that sector is down and it is one of the areas where they are spending more because they are at home or. there was a second survey, focusing on the industrial sector that showed an 11% drop. it was a sharp decline and again what we are seeing is that manufacturing all the factories that were first to close when shelter in place took effect has a terrible effect. car production for example is down some 70% and that is having a knock on effect. well, the economic news out of germany isn't great either. europe's biggest economy is in recession after shrinking by more than two per cent in the first quarter of the year because of the coronavirus pandemic. it's germany's biggest slump since the financial crisis more than a decade ago. the uk chief brexit negotiator, david frost, says "very little progress" has been made, in the la