Almost thr decades. Nearly the ent been hit by th spell. Its had a chi its this week this kind o know, anything brutally cold taken hold acr hitting more tn population. Its just f like its biti just cold. Its no way ar in Illinois River was froz mississippi ri frozen ice. New yorks maj falls frozen in more than 230 are dealing wi temperatures t and its not j in texas, icy driving treach antonio. Citrus farmers to protect their in georgia, icicles dangle from a historic fountain in savannah. Streets in charleston, south the frigid tem freezing pipes damage. In davenport, water main bre womans car, f i couldnt inches thick of ice that it has on it. In missouri the water main burst through this mans front yard, freezing his cars and flooding his home. Not a great start to th especially is complaining weather. Heres someone doing somethin walsh is the d strategy at ib and thank you paul. Thank you, you know, t spell has cont than a week. Extended cold actually end u economic impac like a hurrica might . Yeah, certainly does, becky. In fact, its the the Economic Impact actually can be bigger than those kind of events. The entire sort of eastern half of the country is frozen right now. And with that the economy sort of slows down. It doesnt grind to a complete halt but you can imagine if people are not out, not doing the same kind of things theyre usually doing, youre not spending the same kind of money on the same kind of things. Of course then theres the impact, the as we heard about, and the impact on the citrus e impac travel. All of those things sort of combine to create this sort of slowdown in the economy. You mentioned the retailers. I know around a hurricane, youll generally see people rushing out to the home depots and other places, grocery stores, trying to bulk and up buy things ahead of time. Then the cleanup impact after. In a situation like this, though, is some of this loss because people think, im not going to the mall, and you dont out, youre staying home . Or does it work out in the wash . A lot of it does work out in the wash. Things, however, like not so much retail but like restaurants. Right. Travel, lot of others are lost forever. You mentioned the travel industry. Anybody who is thinking about flying, hundreds of flights were cancel the. Some of the amusement parks closed, particularly some of those big amusement parks that have water parks in florida. What happens there . Obviously theyre going to be lo the losing a lot of revenue during the times theyre shut down. The timing, in fact were now in the middle of the week, kind of mitigates a little bit of this. But of course becky, we just started winter, weve got a long way to go. Dont. And the cumulative effect of these kind of events is where we really start to get hit hard. You mentioned all of this talk about what it means in terms of dam homeowners. In the case of a hurricane there is longlasting damage, longlasting issues that stick around. Same thing for any of the fires weve been covering in california and beyond. In this situation, burst pipes, you think about things like that, how can you really add it all up in terms of the damage . In terms of the insurance loss, these kind of events typi not going to be as widespread or damaging as a hurricane, for example h irma, harvey. Money will flow in, insurance money will flow in probably within a month or two. This event is not going to be nearly as dramatic in terms of that, as it relates to sort of the hurricanes and fires. But well still see some of that as we move into february. You mentioned that the forecasters, the weather forecasters are Getting Better and better at this, and you are, were able to as consumers prepare for all these things. With ibm youre able to compile all of this weather data and forecasting. And what happen with your customers, the airlines, retailers, other companies that are using data like this . What are they able to do . You know, the interesting thing thats happening now is more and mor companies are able to take the weather data and then use analytics and even use Artificial Intelligence and sort of divine from that data how the weathers likely going to be impacting what you and i are going to be needing. Anticipating how the weathers going to shape what people are needing, predicting how much product theyll be needing, flowing those products into the stores. Paul, thank you, always great talking to you, i appreciate. Now heres a look at whats money. News as we head int americas econ month, not as many as expected. 148,000 more workers were employed in december, below expectations. And numbers for previous months were revised downward. Construction was strong and retail was weak. The uneme stayed steady at 4. 1 . Average hourly wages edged up 0. 3 . Stocks started off the new year with a bang, the dow smashing the 25,000 mark and setting a ne record in the process. Just five weeks after breaking 24,000 for the first time ever. Check out the nasdaq. It closed above 7,000 for the first time ever. And the s p 500 set a record of its own. Stocks continue to climb on friday. Americas industria businesses are booming. The ism manufacturing index, which measures that sector, rose to 59. 7 last month. Any number above 50 shows expansion. New manufacturing orders jumped in december to the highest level since january of 2004. One of those businesses is steel and Mining Company arseloma, hiring 640 new employees last year and says that is just the beginning. Ou kate rogers has more from burns harbor, indiana. Reporter employing nearly 18,000 people in the u. S. And planning to hir more. 2018, were projecting to hire another 1,100 employees. Both hourly and salary. Rep the company is keen to see what comes from tax reform and a potential infrastructu bill in focus this year. Using domestic products, rebuilding our countrys roads and bridges, would be very positive for manufacturing in general, and also for the steel industry. Like many manufacturers they face headwinds finding skilled workers. Thats why it started the steel worker for the future program. Its really a partnership of us with high school graduates, where we assist them with their college education, but also provide for them the opportunity for handson training in our factories. T steelmaker has hired 90 former participants and currently has 144 students enrolled. Dantrell brooks is a recent graduate. Senior year of high school, everyone are everybody was talking about bigname College Universities to get a degree. This is a 2 1 2year degree, less than half the time, guaranteed in craft, i have to go for it. Reporte they partner with mi and high schools around the country to help recruit and usher in the next generatn of talent. According to the Indiana Manufacturers association, with baby boom retirement coming, the state may have to fill up to 1 million roles for workers over the next decade. Theyre really heavily recruiting and l for skilled workers. Thank you very much. Kate rogers. Up next, were on the money. The military is making dramatic changes to its retirement system. D millions of Service Members will be affected. But will it be Mission Accomplished when it comes to savings for the future . Later, americans are spending bigtime again. Overdid it with your credit card for the holidays, what should you do now . Right now, well take a look at h. This is frank. Sup this is franks favorite record. This is franks dog. And this is franks record shop. Frank knowns northern soul, but how to set up a limited liability company. Whats that mean . Not so much. So he turned to his friends at legalzoom. Yup they hooked me up. We helped with his llc, contracts, and some other stuff thats part of running a business. So frank can focus on the beat. You hear that . This is franks record shop. And this is where life meets legal. They always refer to me as master sergeant. They really appreciate the military family, and it really shows. Weve got auto insurance, homeowners insurance. Had an accident with a vehicle, i actually called usaa before we called the police. Usaa was there handson very quick very prompt. I feel like were being handled as people that actually have a genuine need. Were the webber family and we are usaa members for life. Usaa, get your insurance quote today. The new year is bringing sweeping changes to the militarys retirement system. The biggest since world war ii. Its a move that will impact millions of current and future Service Members. Senior personal finance corresponden reporter 23yearold zach beckman is a government contract in the private sector. And reservist in the United States marine corps. Military service runs in the family. I wanted to be a marine since i was a little kid, my first big dream. My dad was a dream, grandfather was a marine. Rep corporal beckman is being offered a choice they never had. The old system, you had to stay in 20 years before you could get any type of retirement plan. Under its current retirement plan, military members receive a lifetime pension thats equal to 50 of their base pay. To earn it, they must serve at least 20 years. Many aim t but only 19 r the majority leave the service with nothing. Today, people move on from job to job. And they need a benefit, a retirement benefit that they can take with them. Reporte starting this year, Service Member the military will be par of the new blended retirement system. It combines a pension and 401 k , putting more of the responsibility for longterm savings on the members shoulders. It starts to cause them to learn how to contribute to their own future, their own those with at least 12 years of service will stay on the legacy program. But 1. 6 million who joined after 2006, including corporate beckman, will need to choose which plan they want. If you know for a fact that you are going to serve 20 years, then you should stay with the legacy system. Reporter there is still a pension under the new system, as long as you reach 20 years. But the amount is reduced by the department of defense says members are encouraged to make up the difference using the federal governments swift savings plan tsp. Those who opt in will select ow much money they contribute and begin receiving government matching contributions up to 5 of their p it is my strong belief if they get the education and they start right away contributing, they wont miss the money. The reason that Congress Passed the law reporter the military is requiring mandatory Financial Education training, on bases and online. So far, over 80 of those who must make a decision have taken it. Some Financial Advisers worry one course may not be enough. This all has to start in the boot camps. This has to be fully integrated into training. Just as much as they teach you how to shoot a gun, they need to teach you how to manage your paycheck. Repor pentago Officials Say access to a portable retirement benefit early in their career will make military service more competitive. The blended retirement system, we think its a key step in recruiting and retaining the talent we need to ensure military readiness. R this marine reservist says his choice is clear. Getting my civilian job and also having my marine corps experience, i know the value of a dollar. And see that it reporter for some other Service Members, choosing the best path for their Retirement Savings may not be as easy, becky. Thi really interesting. This is kind of playing catchup with Corporate America, we were talking abou thi dur all of this, both the companies ive worked at in my lifetime have had the same transition taken place. You make a great point, its all about education. Its something not only military members need, i argue you need this in Elementary School through high school, Everybody Needs this. Absolutely, so many things advis are saying this financial preparedness needs to be mandated, not just one course, something thats ongoing. I would a not just the military, this is something Everybody Needs. Everybody should be doing. Your mantra, with what you have done with your career. Thats exactly right. Another thing theyre doing that a lot of Corporate America has started doing is this automatic. 401 k is great, make sure employees are joining and contributing t that plan by forcing them to do so. That is one start. Another thing a lot of and the military hasnt said theyre doing yet is increasing that amount each year. Some companies are saying 3 this year, well increase that automatically to 4 next year, 5 , 6 , 7 . Thats Something Else that is helpful to many people. Sharon, thank you, appreciate it. Up next, we are on the mone americas on a spending spree. Credit card debt is nearing an alltime high. But will there be a hangover later, its not just your dads or granddads drink. Bourbon is booming. Bourbon is booming. The question now is for you, its always leap over look. Bourbon is booming. The question now is now over later. And pause. Not even in your vocabulary. So when a cold sore tingle strikes you act on it. Only abreva can heal a cold sore in as little as two and a half days when used at the first sign. It starts to work immediately to block the virus and protect healthy cells. Nothing heals a cold sore faster. And because abreva acts on it. You can too. Act on it, with abreva. Running a Small Business is demanding. And thats why Small Business owners need more. Like internet thats up to the challenge. The gigspeed network from comcast business gives you more. With speeds up to 20 times faster than the average. That means powering more devices, more video conferencing, and more downloads in seconds, not minutes. Get fast internet and add phone and tv for only 34. 90 more per month. Comcast is building americas largest gigspeed network to give Small Businesses more. Call 18005016000 today. After the joy of the Holiday Season and free spending, now comes the not so fun part, the bills. While americans are feeling more co spendg more, they may be overdoing it. Credit card debt nearing an alltime high. Fin yf with a bi credit card bill what should you do . Wallet hubs Jill Gonzales, thanks for being here. Americans are nearing an alltime record for Credit Card Debt. This confiden . A good thing . Does it mean wear are all getting over our heads at this point . The trilliondollar mark in terms of debt is not a good thing. Yes, we have a lot of consumer confidence. Obviou economy is in much better shape than it was prerecession. These spending levels are reaching the unsustainable heights that they were in q4 of 2007, somes got to give. Where were we then, where are we now, how do you break th ther capita . The whole amount, 980 billion in q4 2007. Now the trilliondollar mark for the first time ever. Thats collectively. Per household back then, around 8,400. Now w at the 8 weve already seen the delinquency rates creep up at the end of 2017. What does this tell us, and how can we address it, i guess . The other thing is Interest Rates have been incredibly low. Not if you look at your credit card, that rate is higher than youll pay for Something Like a mortgage or auto loan. As a result, what do you tell people to do, which bills should they be paying off, how can they get things under control . Youre right, Interest Rates were at a historical low in 2015. Now the fed has been raising the prime rate, three times last year, its looking to do it three times this the year. Every time thats raised it adds about 1. 5 billion to our credit card interest charges. Thats perhike, and were expecting three more of them. The goal is to make something realistic happen, its resolution season. Towards the end of 2018, you want to see about 20 of your Credit Card Debt paid off. So for the average household, th. What should you do in terms of Balance Transfers or ways to get lower rates . Should you put it all on one card . Should you look for the lowest rate . Take out a home equity line of credit to get a lower rate . Whats the smart thing to do . Right now, Balance Transfers are your best bet, especially since they have really great offers going on that we probably wont see for too much longer because credit will have to tighten this year. So i would say putting it on a Balance Transfer card, usually get a 0 apr on that balance for up to 21 months. Thats a lot of interestfree time. Great advice. Jill, thank you for being here today. Thank you. Again, Jill Gonzales of wallet hub. Next on the money, a look at the news for the week ahead. And will the bourbon boom last . Well take you to a kentucky company. Ompany making a billiondo with moderate to severe Rheumatoid Arthritis . Do what i did. Ask your doctor about humira. Its proven to help relieve pain and protect joints from further irreversible damage in many adults. Humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. Humira has been clinically studied for over 20 years. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Before treatment, get tested for tb. Tell your doctor if youve been to areas where certain fungal infections are common, and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Ready for a new chapter . Talk to your rheumatologist about humira. This is humira at work. And butch. Aura. And tank. And tiny. And this is lauras mobile dog grooming palace. Laura can clean up a retriever that rolled in foxtails, but shes not much on articles of organization. Articles of what . So, she turned to legalzoom. They helped me out. She means we helped with her llc, trademark, and a lot of other legal stuff thats a part of running a business. So laura can get back to the dogs. Would you sit still . This is lauras mobile dog grooming palace and this is where life meets legal. Here are the stories coming up that may impact your money this week. On tuesday well be getting the jolt report from the labor department, tells us how many job openings there were for the month of november. On that day 11 years ago steve jobs introduced the very first iphone. Thursday well learn the size of the federal deficit when the treasury budget is released. Friday well see how retailers fared during the month of december. Well also be getting a read on infl the Consumer Price index. 95 of the worlds bourbon is made in kentucky. Demand is growing for americas native spirit. Distillers are betting big that trend will continue as landon dowdy discovered when she went to the b. It goes down so easy. Reporte u. S. Whiskey sales on the rise the past five years, show no signs of slowing down i switched several years ago. Yeah, theres definitely more of a bourbon boom. Its not really focused on reporter bourbon and whiskey sales jumped 7 and 22 respectively last year, according to International Wine and spirits record. Companies like privately held papi van winkle maker are big, building a new warehouse every four months and filling it with whiskey at a cost of 25 million a pop. Its literally but its fine. If things start to slow down, we can actually decelerate the investment program. Right now, were set to invest 1 billion in the next 10 years. Reporter i had a chance to try their Pappy Van Winkle bourbon, aged for the majority of my lifetime. Lets see if i can pick out the pappy. 315 per shot or up to 5,000 per bottle. I want to go with this one, its the smoothest. Well done. Its a barrel of pappy taking decades to age. The question is can companies enough bourbon to keep up with demand . Its not just them getting a boost from bourbon, an investment of 45 million to modernize facilities and selling new Bottling Technology to 100 bottles a minute, double capacity, and 15 million to build a distillery and Visitors Center to open next year. Consumers are not only drinking more bourbon but more expensive bourbon. I think american whiskey, if youre at the premium end, youre d this position is the premium end of american whiskey so were right with the trends right now. Reporter analysts and the companies attribute the bourbon boom to millennials thanks to the ongoing classic cocktail trend and the entrance of flavored bourbon, maki you look skeptical. Theres no Pappy Van Winkle in here today. It would help us today potentially make us feel better about things. You know, the big bourbon distillers worry about the new craft entrance . Do they think its going to eat into their sales or do they think its something that might float all boats . We have seen a lot of that like with craft brewers. The big guys say, its not a problem, as soon as they start to get popular, they cant keep up with the demand. So they have to buy them. We saw with Companies Like angels envy, bacardi bought them up, its a good thing for them. It takes a long time w bourbur it the trick . It takes at least seven years. With the pappy, 23 years. Theye betting 40 years in advance that people are going to want all this bourbon, specifically the pappy. You can taste the difference, i have to say, in the 23yearold aged pappy. You have whetted my appetite for the next time youre there. Well go to kentucky, ill take you with me next time. Sounds good, thank you very much. That i the show for today. Im becky quick. Thank you so much for joining us. Next week, fitness trends. Slimming down without making your wallet get too skinny as well. New ways to keep your new years resolution. Ea week keep it ear, here on ha [dramatic music] male narrator 365 days of sacrifice and suffering. Ive been preparing my whole life for this. I know exactly what to expect now, and ive trained for it and im ready. I feel like i was meant to do this, honestly. Narrator months of pain and preparation. Can flip steal the number one spot away and lead the charge into the city finals . From the bottom of my heart, i truly, believe that i have what it takes to be the First American ninja warrior. Narrator and it can all be undone in an instant. Both oh [horn blows] he hit the water. Are you kidding me . it doesnt matter how good youve done before. Brent steffensen out. If you have just one small failure, youre gone