Business

Dow Jones plunges most since 2008 on coronavirus fears

D-Keine/iStock(NEW YORK) -- The Dow Jones Industrial Average plummeted 1,190 points, more than 4%, on Thursday as economic uncertainty over the spread of the novel coronavirus continued to rattle markets.

The losses mark the worst week for the Dow since the financial crash of 2008. The S&P 500 and NASDAQ each also plunged by more than 4%.

The sharp fall comes as public health officials warn that Americans should prepare for community spread of coronavirus in the U.S. and as companies warn investors of supply chain issues related to the outbreak.

"Markets move sharply when fear and uncertainty are prevalent, and there is plenty of both right now," Greg McBride, the chief financial analyst for Bankrate.com, said in a statement in response to Thursday's market drops.

McBride added that "investors should maintain a long-term focus and refrain from making decisions with long-term financial ramifications based on short-term volatility."

"Friday is payday for many Americans. This week’s 401k contribution will get you a 'sale price' instead of the 'full price' retirement savers were paying just one paycheck ago," McBride said. "Economic uncertainty is a reminder to pad your emergency savings just in case. If you feel the need to do something, do that. But leave the retirement account alone."

The Dow's worst performer on Thursday was Microsoft, which fell 7%. The company announced late Wednesday COVID-19-related supply chain disruptions would affect projected revenues tied to the company's personal computing division.

Among the other worst performers were Dow Inc., Apple, Intel Corp. and Exxon Mobil Corp., all of which fell by more than 6%.

Meanwhile, shares of Clorox reached an all-time high of $174.17 during intraday trading, closing at $168.70, up 0.4% on the day.

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Lane Bryant introduces mannequins with diverse body types and skin tones

FILE - Joel Carillet/iStock(COLUMBUS, Ohio) -- Fashion retailer Lane Bryant has taken measures to make their mannequins just as diverse as their customers.

On Wednesday, the brand announced the updated store design of their flagship store in Columbus, Ohio, would feature not only modern color palettes and fixtures, but also a new mannequin program that includes four different skin tones.

Photos from the revamped store display mannequins with lighter as well as deeper skin and a mix of full-figured physiques as well.

In a press release, representatives from Lane Bryant explain that the new mannequin updates were actually inspired by how much the beauty industry has put inclusivity at the forefront.

"In recent years, top beauty brands have been putting a major focus on inclusivity when it comes to innovation, yet in fashion, too many U.S. brands are lacking diversity when it comes to size, shape, and skin tones," Lexy Onofrio, Lane Bryant's VP of Creative & Brand Marketing said in a statement.

She continued: "As an established leader in inclusive fashion, this year Lane Bryant is continuing to be a pioneer in the industry as the first major retailer in North America to roll out a new set of revolutionary mannequins featuring a variety of skin tones, reflective of our brand’s ethnically diverse customer base. We want our consumers to feel represented and see how our clothing will look on differing tones, so that they can choose their lane when it comes to style."

In addition to Lane Bryant's size 14 mannequins, in 2019 Rihanna also showcased curvy mannequins at a Fenty pop-up event in New York City.

The fashion label received major kudos from attendees as well as fans on social media.

Additionally, around the same time last year, Nike rolled out full-figured mannequins for the launch of "Women by Nike" floor in NikeTown London.

"We launched the Nike Plus Size collection in 2017 -- a collection crafted to ensure the perfect fit at every size," a spokesperson told GMA in a statement. "To showcase inclusivity and inspire the female consumer, we launched Nike Plus Size mannequins in select stores in North America in 2018 and as part of the recent launch of the new 'Women by Nike' floor in NikeTown London. We continue to listen to the voice of the athlete and know that the female consumer wants to see a diverse and inclusive range of product to serve her sporting needs."

Other major retailers such as Nordstrom, Target and Old Navy have also included diverse mannequins in their stores.

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"Shark Tank" star Barbara Corcoran said she lost nearly $400K to a phishing email

ABC News(NEW YORK) -- Barbara Corcoran said she lost nearly $400,000 after her financial team responded to an email that turned out to be a phishing scam.

"This morning I wired $388,000 into a false bank account in Asia," Corcoran told ABC News.
 
Last week, the millionaire's bookkeeper Christine received an email that appeared to be a routine message from Corcoran's assistant Emily to approve a payment to a German company called FFH Concept.

However, the email in question was never sent from Corcoran's assistant, instead, it was sent from a con artist.

The bookkeeper at first questioned the payment and asked in her reply, "What is this? Need to know what account to pay out of."

"Someone sends you a bill. It's paid," Corcoran said. "And this one instance, it was not a good strategy."

The crook responded to the bookkeeper with a detailed explanation and as Corcoran said, $388,700.11 was then transferred.

After the fact, Corcoran's team noticed a missing "O" in the "from" address.

"When she showed me the emails that went back and forth with the false address, I realized immediately it's something I would have fallen for if I had seen the emails," Corcoran said.

The savvy Shark Tank star fell prey to an all too common phishing scam, which is something her fellow shark Robert Herjavec, who made his millions running a tech company, knows all too well.

"85% of all cybercrime across the world comes through email, which is what happened to Barbara," Herjavec said. "This is very, very common. It's been happening of businesses for two, three years now. It's now happening to individuals."

What to know about phishing scams


Herjavec said there are a couple quick best practices people can implement to ensure they don't fall for this kind of deception.
 
"Always verify that the email is coming from somebody you trust. Get that person to call you," he suggested. "Number two, check your bank statements every single day, because if you catch it within 48 hours, the bank can get it back for you."

Unfortunately, the money in Corcoran's case is already gone, but her team traced the original scam emails back to a Chinese IP address and her attorneys are reportedly figuring out next steps.

Copyright © 2020, ABC Audio. All rights reserved.


11-year-old opens thrift shop to help families in need

Mariya Moseley/ABC News(NEW YORK) -- An 11-year-old entrepreneur is chasing his dreams and making a difference in his community at the same time.

Obocho Peters, a Brooklyn, New York fifth-grader who has the title of CEO for Obocho's Closet, is on a mission to help low-income families save money on clothes while also advocating for the importance of education.

He first created his online thrift shop, which sells donated clothes and shoes for children under $10. His business, I Am Obocho LLC, was established in 2018. In December, he officially achieved his goal of opening a physical store location in Brooklyn's Flatbush neighborhood on his 11th birthday.

He said the idea first emerged after he went to see Avengers: Infinity War and asked his mom for toys of characters from the film. He learned that she couldn't afford them, so he sold some of his old clothes to get money to buy them. That's when he said he realized that other kids around him may have the same issue and that he wanted to help.

"I was inspired by all the superheroes helping to make the world a better place," Obocho said. "I wanted to be a hero myself by helping my mom."

From there, he started collecting donations from the community and raised more than $10,000 from his GoFundMe campaign to open his shop. He says that he knew that he needed a space after his home started to fill up with donations.

Prior to getting his shop, Obocho spread the word about his business by setting up shop at his local discount store Bargain Land along with selling items as a vendor at events.

His mother, Sasha Peters, who is a single mother originally from St. Thomas, U.S. Virgin Islands, believes that parents' investment into their children's dreams plays a huge part in their child's success.

"You have to nurture kids when they come up with ideas and you have to pay attention to everything they say because they're telling you how to groom them to be a better version of themselves," she told ABC News.

Brooklyn Borough President Eric Adams awarded Obocho as one of the "Heroes of the Month" last June -- an honor that celebrates people for their bravery, selflessness and service.

Adams says that he's proud that his team got to give Obocho the distinction because of his "sense of his obligation to give back."

"This young man personifies the great things young people are doing across our country and particularly in Brooklyn," Adams told ABC News.

In addition to Peters assisting her son with the launch of his website, she also registered him for business classes after school to help cultivate his entrepreneurial spirit.

She also became inspired to fulfill her dreams of becoming a fashion designer and seamstress and recently quit her job as a social worker. She said that she also plans to help her son build his brand, which includes operating his social media pages and coordinating events.

Among the local events are financial literacy sessions where Obocho hosts dozens of participants ranging from 5 to 55 years old. The seminars, which have nearly tripled with participants since the first session, are geared towards teaching families how to save for college.

Peters says that for her, seeing her son's personal growth is one of the things she's most proud of as she recalls him being a "shy kid" who would frequently have panic attacks before speaking engagements -- and with the help of mentors such as local entrepreneur and music artist, Mental Barton, he's already beginning to break out of his shell.

Earlier this month, he received a standing ovation while delivering opening remarks during a Black History Month event hosted by The Brooklyn Chamber of Commerce as he discussed his business and future endeavors.

Barton, who has been mentoring Obocho for about two years, says that he's grateful for the chance to help him build "his own voice and abilities" by allowing him to join him on stage during performances across New York City.

"His drive and vision has gotten much bigger... I see him breaking outstanding barriers," Barton said.

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MAC celebrates legacy of Selena Quintanilla with second makeup collection

MAC(NEW YORK) -- After a successful initial launch, MAC Cosmetics is back with a second makeup collection that pays homage to the late, great pop star Selena Quintanilla.

On Tuesday, the popular makeup brand announced the launch of the new Selena La Reina collection, which was created alongside the late singer's family.

This new collection was inspired by Selena's unique musical style as well as her distinctive global influence.

"I am forever grateful to MAC for allowing me to bring my creative vision to life for this collection and being able to share what I felt would celebrate my sister's 25th Anniversary," Selena's sister, Suzette Quintanilla, said in a statement.

One standout item from the limited-edition collection will include the Bidi Bidi Bom Lipglass, which has a pearlescent pink tone. It was a part of the original collection "MAC Selena" which was launched in 2016.

The first collection was birthed after fans created an online petition in 2015 calling for MAC to create a makeup line inspired by the singer.

Now, fans can rejoice and honor the life and legacy of Selena once again.

Copyright © 2020, ABC Audio. All rights reserved.


Facebook cracking down on ads that guarantee coronavirus cure

ABC News(NEW YORK) -- As U.S. health officials have issued warnings to prepare for the spread of coronavirus in American communities, Facebook announced it's cracking down on ads that guarantee a cure, create a sense of urgency or otherwise attempt to cash-in on the outbreak.

The announcement comes as the social media giant's ads policy has long courted controversy for spreading misinformation.

"In the weeks after the World Health Organization's declared a public health emergency, Facebook is working to support their work in multiple ways, including taking steps to stop ads for products that refer to the coronavirus and create a sense of urgency, like implying a limited supply, or guaranteeing a cure or prevention," a Facebook spokesperson told ABC News in a statement Wednesday. "For example, ads with claims like face masks are 100% guaranteed to prevent the spread of the virus will not be allowed."

Dr. Nancy Messonnier, director of the U.S. Centers for Disease Control and Prevention's National Center for Immunization and Respiratory Diseases, said Tuesday at a news conference that Americans should prepare for a "significant disruption" due to coronavirus.

"Ultimately," she said, "we expect we will see community spread in this country."

As of Wednesday, there have been more than 80,000 confirmed coronavirus cases globally and more than 2,700 deaths, mostly in China.

As the coronavirus spreads, so has a slew of online misinformation, conspiracy theories and fear about the mysterious illness, including false cures and prevention methods.

Other social media platforms including Google and Twitter have announced similar steps to quell the spread of false information about the disease and direct people to facts from medical authorities.

Google will put an alert on top of the search results pages with "safety tips, info, resources" as well as Twitter updates from the WHO, the company said in a tweet.

Similarly, Twitter said it would direct users posting or searching about the novel coronavirus to "credible, authoritative information first." The company also said it would remove users who attempt coordinated efforts to spread disinformation about the health crisis.

Copyright © 2020, ABC Audio. All rights reserved.


Virgin Galactic to resume selling tickets to space, reports skyrocketing demand

GENE BLEVINS/AFP via Getty Images(NEW YORK) -- Private space tourism company Virgin Galactic said it is gearing up to sell tickets to space again, and that it has witnessed skyrocketing demand for trips off of this planet.

The company says it has already taken in more than 600 reservations from "Future Astronaut customers" in 60 countries.

Moreover, it has received nearly 8,000 online reservation of interest registrations in a little over a year -- more than double what it reported in Sept. 2019.

Virgin Galactic was forced to stop selling spaceflight tickets after its first test flight in late 2018, but said Wednesday it will reopen sales through a "One Small Step" qualification process for "those who are serious about flying to space."

The One Small Step registration process asks future passengers to put down a refundable $1,000 deposit and register online. When new seats are released by the company, they will be offered first to the One Small Step participants, who will be invited to "make the One Giant Leap to a confirmed spaceflight reservation," according to a statement on the company's website.

Stephen Attenborough, Virgin Galactic’s commercial director, said they have been "greatly encouraged by the ongoing and increasing demand seen from around the world for personal spaceflight."

The One Small Step initiative "allows us to help qualify and build confidence in our direct sales pipeline, as well as to ensure that those who are most keen to make reservations, are able to do so at the earliest opportunity," he added.

The company has not yet announced the exact cost or timing of when the next set of seats will be released. Tickets for the initial round of seats were sold for $250,000.

Virgin Galactic has previously said it expects to send its first private space tourists this year.

Late last year, the company debuted its spacesuits "for the masses" for its astronaut customers to don, in a partnership with sportswear company Under Armour.

In January, the company said its sleek new commercial spacecraft had passed its structural "weight on wheels" milestone -- a test in which the spacecraft was able to successfully deploy its main landing gear and carry its own weight for the first time, according to Virgin Galactic.

Copyright © 2020, ABC Audio. All rights reserved.


Step-by-step guide for taking a leap toward your debt-free dreams

AndreyPopov/iStock(NEW YORK) -- Patrice Sosoo has big dreams for 2020.

On her vision board, she wants four main things out of this year: simplicity, calmness, beauty … and most importantly, to pay off her debt.

Like many people, Patrice is working to pay off her student loan debt. After graduating college in 2008, her student loans totaled $97,000 and have since increased to $130,000 due to interest.

While she's worked to pay the minimum each month and continued to live her life, prioritizing having a family, buying a home and pursuing her dream job, it came at a cost.

"Having that student loan debt over my head just felt like a dark cloud," Sosoo told ABC News' Good Morning America.

So, Patrice decided to take a leap this year and tackle her debt once and for all.

To help Patrice leap towards her debt-free dreams, Good Morning America set her up with finance expert, Sallie Krawcheck of Ellevest, a digital-first, mission-driven investment platform for women.

Before launching Ellevest, Krawcheck built a successful career on Wall Street as the CEO of Merrill Lynch, Smith Barney, US Trust, Citi Private Bank, Sanford C. Bernstein and CFO for Citigroup.

Now, as the CEO and co-founder of the investment platform, Ellevest, Krawcheck has made it her mission to help women take charge of their finances and is sharing her advice so everyone can conquer their debt. Read her tips to tackle debt below:

Sallie Krawcheck’s step-by-step guide to conquer debt:

1. Get to know the 50/30/20 rule

More of a guideline than a rule, the 50/30/20 framework helps you divvy up your take-home pay into three buckets: 50% goes to needs (bills, groceries, housing, minimum payments, etc.); 30% goes to wants (drinks with friends, streaming services, vacations, etc.); and 20% goes to Future You (debt payments over the minimum, saving, and investing). Some costs might overfill your "needs" bucket. If you're carrying debt, have kids, and/or are dealing with life, "needs" might be the biggest -- or only -- bucket for a while, and that's OK.

2. Negotiate your needs
Even if your "needs" exceed 50% of your take-home pay, it's a great way to determine whether or not you're spending above your means. Living below your means is the biggest key to paying off debt, and most people don't do this. Take a look at your bills: Can you bring your cable bill down by switching to a smaller package with fewer channels? Are you paying for more internet bandwidth than you need? Can you lower your monthly low-interest loan payments by setting up autopay? Getting your "needs" bucket as low as possible is the best way to set yourself up to put as much as you can toward Future You.

3. Organize your debt
Make a list of all your debts. That means each student loan, each credit card, each car loan, etc. Write them down along with their interest rates and balances.

4. Decide what to pay off first
The higher a debt's interest rate, the more it costs you, so that can help you choose. Pay off any debts with an interest rate greater than 10% ASAP, starting with the debt with the highest interest rate and then working your way down. A lot of the time, those minimums are only designed to pay off the interest, plus maybe a very small piece of the actual amount you owe. By making bigger payments, you can lower the underlying balance more quickly and pay off the debt faster.

5. If you have money in savings, use it
The idea of emptying your savings might feel counterintuitive and uncomfortable, but the math says to do it. High-interest rates will cost you way more than you'd earn in a savings account. Just keep about $1,000 for emergencies.

6. Make a plan to pay off the rest
There are two ways to pay off debt. First is the one we typically recommend: the "debt avalanche" method. With this approach, put your entire "extra" payment on the credit card balance that has the highest interest rate. Knocking that debt out first can save you the most money on interest. After that one's paid off, then focus on the balance with the second-highest interest rate, and so on.
 
Another option is the "debt snowball" method. This method works exactly the same as the avalanche method, except you focus on the debt with the smallest balance first, and then moving to the second-smallest. This method doesn't reduce interest payments as quickly, but the idea here is that it will take the least time for you to pay off the smallest balance, and the sooner you can check off a win, the more momentum you might have to keep going.

7. Try to lower your interest rate
Call and ask your credit card issuer to lower your interest rate. Before you call, gather the facts: How long you've had an account, how many on-time payments you've made in a row, how much you've paid in interest in the past year. Also poke around online to see if there are other credit cards out there offering lower rates. If they say no due to a low credit score, work on raising your score and try again.

8. Consider balance transfers
There are lots of credit cards with balance transfer offers. That means if you move your credit card debt from your current provider over to them, they'll give you a super-low (or maybe even 0%) interest rate for a while, as a promotion. If you think you'll be able to pay off your balance before the promotional time limit is up, then transferring your balance could save you a lot of money.

9. See what else you can redirect to debt
If you're going to start paying more than the minimums, you'll either need to redirect some of your monthly budget (as in, cut back somewhere, using your values to help you decide what stays and what goes) or boost your income (or both). Maybe you start freelancing a little bit, for example, and decide to put all your income from that right on toward your debt. You could also use second-hand sites or apps to sell clothes, furniture, or other belongings you don't use anymore.

Along the way, use any unexpected money like bonuses or tax refunds to help pay your debt off faster. And if you get a raise, try to keep living on the amount you were making before, and put the extra money toward your debt. (One thing I don't recommend, though, is missing out on an employer 401(k) match because of debt. If your job offers a match, make sure you're investing enough to take full advantage of it -- that's free money.)

For debts with interest rates between 5–10%, still make those extra payments, but it's OK to put some money toward your other goals (like saving up an emergency fund) at the same time, too. And if the interest rate is lower than 5%, just pay the minimums until that debt's paid off -- historically, investing has been a better use of your money.

Copyright © 2020, ABC Audio. All rights reserved.


Distracted driver in fatal 2018 Tesla crash was playing video game: NTSB

jetcityimage/iStock(NEW YORK) -- A 38-year-old man who died shortly after crashing his Tesla had relied too much on the car's autopilot function and was playing a game on his cellphone at the time of the accident, according to the National Transportation Safety Board.

The NTSB on Tuesday determined that the limitations of the Tesla autopilot system coupled with Walter Huang's distracted driving led to his death in March 2018 in Mountain View, California.

Huang was on the way to work in his Tesla Model X when the vehicle struck a safety barrier and was hit by several other vehicles on the Highway 101. He later died from his injuries.

In the days following the accident, Tesla said the company had "never seen [that] level of damage to a Model X in any other crash."

As a result of the investigation, the NTSB issued nine safety recommendations to Tesla, the National Highway Traffic Safety Administration, the Occupational Safety and Health Administration, SAE International and Apple.

Some of the safety recommendations were reiterations from a previous investigation, changes that Tesla and the NHTSA did not implement, revealing a lack of federal regulations for partially automatic vehicles.

The NTSB knocked the NHTSA for its "non-regulatory hands-off approach," recommending that the agency conduct a strong defect investigation program into Tesla's autopilot system.

Tesla didn't immediately respond to a request for comment from ABC News on Tuesday.

"While DOT has issued some policy guidance for higher levels of automation, level 3 to level 5, little to no guidance or standards exist for partial driving automation systems currently on our highways today," NTSB Project Manager for Highway Safety Don Karol said.

The NHTSA said it's aware of the NTSB's report and will carefully review it.

The NHTSA said in a statement to ABC News that it's recommended for years "developers of advanced driver assistance systems incorporate appropriate driver-vehicle interaction strategies in deployed technology," and that the agency "has made resources available that assist with that recommendation."

NTSB board members made clear their concerns are tied not just to Tesla but to any other companies that may implement similar systems.

"When we automate vehicle controls, it becomes more challenging to monitor the environment," said Ensar Becic, project manager and human performance investigator with the NTSB's Office of Highway Safety. "Especially if the automated system performs pretty well and we learn to trust it."

Copyright © 2020, ABC Audio. All rights reserved.


Siblings who wowed on "Shark Tank" with dad's invention sell out at Williams-Sonoma

Williams-Sonoma(NEW YORK) -- Three siblings who honored their late father's legacy on Shark Tank have fulfilled his entrepreneurial ambitions and learned their parents’ lessons: chase your dreams.

Kaley, Christian and Keira Young turned their dad Keith Young's cutting board product into an investment opportunity for all five sharks; each invested in the Cup Board Pro in 2018. Now their kitchen gadget has been licensed by one of the largest kitchenwares stores in the U.S., which projects even greater sales.

Young, who was a firefighter in New York City and served during the cleanup efforts at Ground Zero, died of cancer -- synovial sarcoma -- in March 2018, six years after his wife passed away from breast cancer.

The siblings told their family's story and presented Young's unique cutting board design -- that he spent years perfecting -- in an episode that was taped with the sharks two years ago. It was the three-month anniversary of their father’s death, which moved the investors to tears.

"I really believe that that was, like, a sign from my parents to go on the show," Kaley Young, 26, told ABC News of the email they received to audition. "We were in front of the sharks exactly three months after our dad passed away, which was, looking back it, I don't know how we did that. It was really hard, but amazing too."

Christian Young recalled a video of their dad presenting the Cup Board Pro that played during their pitch to the sharks, and said his voice was "booming" in the room.

"It felt like he was -- talking from heaven -- it was hard not to burst out crying," Christian Young, 22, said. "When all five sharks wanted to go in on the deal, it felt like we almost won the show."

"The sharks gave us $100,000. And they have 20% stake in our company. But instead of taking the profits of 20%, they're giving it back to -- a firefighter charity that my dad supported to support other firemen that are fighting 9/11-- cancers and sicknesses," Kaley Young explained. "We're really grateful that we can give back to families just like us."

Now, the Young siblings have a licensing deal with Williams-Sonoma, who helped them manufacture different versions of their dad's kitchen gadget backed by the sharks.

"Williams-Sonoma helped us manufacture the Cup Board Pro now in the United States," Kaley Young said of their father's product that sells online and in stores across the U.S. "And we're now sold out till April 2020 of the original board. And they just came out with an extra large version, which they have in stock, which is pretty awesome."

Their pitch on Shark Tank and the product itself resonated with viewers almost instantly, Kaley Young recalled.

The Cup Board Pro is a wood cutting board with a removable container into which scraps can be put while preparing food.

"All of our inventory was sold out as our episode was still airing on the East Coast -- by the time our episode aired in California, we were already sold out," she said. "We had over 130,000 people try to order the Cup Board Pro."
 
Part of the money the Cup Board Pro makes goes to firefighters battling 9/11 sicknesses.

Beyond the business side of things, the siblings said that after the show people from all over the world reached out with stories of their own experiences of loss and grief -- "it was amazing to see."

Not only does the cutting board simplify work in the kitchen to give people more family time, Kaley Young explained, "there's a giveback component to it, where it's helping families -- of 9/11 -- that are sick."

"It's a special cutting board that's near and dear to our heart. And we're so grateful to share a little bit of Keith Young in everyone's kitchens," she said.

The siblings said their dad, a super fan of Shark Tank who loved to cook and spend time in the kitchen, "always made the biggest mess," so the Cup Board Pro "was his solution to simplifying the way someone works in the kitchen."

His pitch, however, went on the back burner, Kaley Young said, when their mom got sick and was diagnosed with breast cancer in 2011. Then, after she died in 2012, Young was asked to be on Food Network's Chopped, which he won twice. Kaley Young said it "gave him the confidence to pursue the Cup Board Pro. And in 2015, he had 2,000 units shipped here from China."

"On Shark Tank, we went on with our dad's colors of the natural wood color with a green, lime green and charcoal. And so that one's known as the original. Then we have a natural with a charcoal color cup or a slate cup. And our slate color, which is an all black Cup Board Pro. And now we have an extra large version. And they're coming up with two new versions this Spring," Kaley Young said.

Keira Young, 16, said that according to the kitchenware brand, the Cup Board Pro is "the fastest selling and most popular cutting board in the history of Williams-Sonoma."

"Our dad's dream was to have the Cup Board Pro in every kitchen in America. And it's so exciting to see that it's actually coming true," Keira Young said.

Kaley Young said her parents "both really instilled in us how important it is to follow your dreams. And we saw that… with each of our parents."

Now, as they fulfill orders and Young's dream with the support of Williams-Sonoma, the elder daughter said they can "do what we feel like we came here to do."

"I'm an interior designer. Keira's in school on the cheerleading team, traveling for cheer. And Christian's able to finish college, which is pretty awesome that we can still continue our dad's dream while continuing ours," she explained.

The three siblings said they cherish their closeness working on the product together since their time on Shark Tank.

Kaley Young said they have been "a big part of my healing process from losing both my parents -- I'm very grateful for both of them."

Copyright © 2020, ABC Audio. All rights reserved.


Petition for airlines to seat families together for free takes off

tonefotografia/iStock(NEW YORK) -- It's an all-too-common complaint among families who fly: pay an additional charge to make sure you children are seated with you or run the risk of having even babies and toddlers seated among strangers.

The practice of paying for an advance seat assignment used to apply only to low-cost, no frills carriers like Spirit. But in recent years, major airlines like American, Delta and United have also tacked on a fee that consumer advocates say disproportionately targets families.

"Airlines can easily fix this, but they haven’t. Doing so would mean giving up millions of dollars in fees from parents who simply want to keep their kids safe," reads a new petition from Consumer Reports, which has more than 60,000 signatures so far.

It comes after Consumer Reports used the Freedom of Information Act to look at complaints against the airlines on this topic.

"In multiple cases, children under 5 years old were seated apart from the adults traveling with them," an article read. "Consumers resorted to asking strangers to trade seats or, when that failed, were asked to deplane or chose to leave out of concern for their children. In the worst cases, families who had to re-book their flight to ensure they were seated together paid thousands of dollars more, in one case totaling $4,341 more and in another case totaling an additional $14,084."

Consumer Reports filed the FOIA request in the summer of 2018 to find out the status of the 2016 Federal Aviation Administration Reauthorization Act of 2016, which included a provision that required the Department of Transportation to review airline family seating policies to ensure young children can sit with their families on airplanes at no cost.

"One year later [after the summer 2018 request], CR got a response to its FOIA request and learned that the agency doesn't plan to ask the airlines to make any changes to their family seating policies," Consumer Reports told "Good Morning America" via email. "The DOT cited a lack of complaints for its decision not to act. This fall, CR began publicizing the issue and, in just two weeks, generated three times as many complaints as the DOT received in the previous two years."

The petition, found here, reads:

"To American, Delta, and United Airlines:

"Children 13 or under should sit with their families while flying, and should not be charged extra fees to do so. Complaints have been filed against your airline for separating children as young as age 2 from their families. This is a security hazard for the child and a safety threat to all passengers during emergencies. It also puts an inappropriate burden on customers who sit next to an unaccompanied child.

"I expect you to put safety over profits, and seat children with their families without charging them extra for it."

Copyright © 2020, ABC Audio. All rights reserved.


Dow Jones plunges for 2nd straight day on coronavirus fears

claffra/iStock(NEW YORK) -- The Dow Jones Industrial Average plunged for the second straight day, tumbling 879 points, as health officials warned the novel coronavirus likely will spread throughout communities in the U.S.

The Dow fell more than 3% when trading closed, with the S&P 500 and Nasdaq also tumbling Tuesday, by more than 3% and by more than 2.7%, respectively.  

The losses have been widespread. American Express, United Technologies Corp., Visa, United Health Group and Dow Inc. were among the worst performers on Tuesday, each falling more than 3%.

Tech companies including Apple, which produce goods in China and rely on that market for sales, also suffered. The travel sector, including cruise operators and airlines, also took a hit.

Tuesday's losses come after the Dow suffered its worst single-day losses in more than two years on Monday, plummeting more than 1,000 points.

Health officials warned Americans on Tuesday to prepare for "significant disruption" to their lives as a result of the virus, saying it's not a matter of if, but when it spreads in communities in the U.S.

The fresh warnings come as the virus has also spread rapidly outside of China, including communities in Italy, Iran and South Korea.

A handful of U.S. and international companies already have begun to feel the financial impact of the outbreak that has stifled the world's second-largest economy.
Copyright © 2020, ABC Audio. All rights reserved.


Bob Iger, longtime Disney chief, steps down as CEO

Rodin Eckenroth/FilmMagic/Getty Images(NEW YORK) -- Robert "Bob" Iger, the longtime leader of the Walt Disney Company, is stepping down as CEO effective immediately, the company announced Tuesday.

Iger, who has led the company since 2005, will stay on as executive chairman in charge "creative endeavors" until his contract ends on Dec. 31, 2021, the company said.

Bob Chapek, who most recently led the company's theme parks division, will be the new CEO of the Walt Disney Company.

Iger, 69, said he felt it was the "optimal time" for a change a leadership.

"With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO," Iger said in a statement.

"I have the utmost confidence in Bob and look forward to working closely with him over the next 22 months as he assumes this new role and delves deeper into Disney’s multifaceted global businesses and operations, while I continue to focus on the Company’s creative endeavors," he added.

Chapek has been Chairman of Disney Parks, Experiences and Products since 2018, and has been with the company since 1993.

Chapek, in a statement, said he is "honored and humbled to assume the role of CEO of what I truly believe is the greatest company in the world, and to lead our exceptionally talented and dedicated cast members and employees."

This is a breaking news story. Please check back for updates. The Walt Disney Co. is the parent company of ABC News.

Copyright © 2020, ABC Audio. All rights reserved.


39 states investigating Juul over health claims, marketing practices

iStock/Josie_Desmarais(NEW YORK) -- Thirty-eight states have joined Connecticut's investigation into Juul over the company's health claims and marketing tactics, which officials said are geared toward minors.

The probe is considering company's marketing and sales practices, claims regarding nicotine content and statements the company made regarding the risks, safety and efficacy as a smoking-cessation device, according to a statement from Virginia Attorney General Mark Herring.

Connecticut Attorney General William Tong launched the investigation into Juul in July and provided an update Tuesday at the at Hillhouse High School in New Haven.

Several members of the 39-state coalition have sent civil investigative demands or subpoenas to Juul, and more are expected to be sent as the investigation uncovers more information, Tong told reporters.

"I think the best thing Juul can do is respond -- fully, forthrightly, transparently -- and cooperate with these states," Tong said.

In November, New York Attorney General Letitia James announced a lawsuit against the e-cigarette company over its marketing practices, which she also alleged were geared toward youth. New York was the third state, joining California and North Carolina, to sue Juul for its marketing practices.

There have been 42 deaths and 2,172 confirmed and probable lung injury cases associated with the use of e-cigarettes or vaping as of Nov. 13, according to the Centers for Disease Control and Prevention.

A total of 46 Connecticut residents were hospitalized with lung injuries associated with the use of e-cigarettes or vaping between August and December of 2019, the Connecticut Department of Public Health reported.

In a statement to ABC News, Juul spokesman Austin Finan said the company's customer base is 1 billion "adult smokers," adding that the company does "not intend to attract underage users."

Juul has taking action by preparing "comprehensive and scientifically rigorous Premarket Tobacco Product Applications," stopping the sale of flavored pods other than tobacco and menthol in November, halting its television, print and digital advertising and implementing a $1 billion restructuring plan, Finan said.

"We will continue to reset the vapor category in the U.S. and seek to earn the trust of society by working cooperatively with attorneys general, regulators, public health officials, and other stakeholders to combat underage use and transition adult smokers from combustible cigarettes," Finan said.

Tong said the investigation would determine whether Juul has "done enough" to mitigate the damage, which he said has already "been done."

"They dominate 80 to 90% of this marketplace, and we have a youth vaping epidemic that is sweeping the country," he said. "We need to understand the extent to which they are responsible.

"We're gonna hold them accountable."

Copyright © 2020, ABC Audio. All rights reserved.


Jif teams up with GIPHY to help you pronounce GIF properly once and for all

iStock/tzahiV(NEW YORK) -- GIF, GIPHY, Jif.

Chances are you read those three terms differently, but you know exactly how you think it should sound.

Jif and GIPHY have now teamed up to try and put a lid on the long-running pronunciation debate when it comes to the semantics between a hard g and a soft g.

"Jif, said with a 'soft G,' is America’s number one peanut butter. GIFs, said with a 'hard G,' are the frequently shared looping videos that add humor, culture, and entertainment into people’s daily conversations (of which GIPHY serves 10 billion each day)," the brands said in a joint press release.

To further prove their point on the major phonetic difference, Jif created a limited run of specially labeled jars.

"If you've ever called a GIF and 'Jif' we forgive you," the lid of the limited-time peanut butter jars read.

Jif began sharing the new campaign on Twitter Tuesday to explain the semantics between the two consonant pronunciations.

"At GIPHY, we know there’s only one Jif and it’s peanut butter. If you’re looking for all the GIFs, there’s only one GIPHY," Alex Chung, founder and CEO of GIPHY, said in a statement. "If you’re a soft G, please visit Jif.com. If you’re a hard G, thank you, we know you’re right. Whether you like your Gs hard or soft, let’s all share some fun and let peanut butter unite us in saying GIF and eating Jif."

The smooth new collaboration comes just ahead of National Peanut Butter Lover’s Day on March 1.

As of the time of publication, the limited-edition Jif jars are available on Amazon for under $10 while they last.

"Spread the word like Jif on bread -- Jif is peanut butter, GIFs are animations," added Rebecca Scheidler, VP of marketing for Jif.

While both brands said they stand in agreement, they shared the sentiment that "the fun is in the debate, which has been going on since the GIF came on the scene in 1987."

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