in new orleans, some spots not going to see this rain end for 24-plus hours going forward. we are going to watch this storm track its way farther northward. slowly. good news, could bring rain to some areas in extreme drought. many spots going to be dealing with flooding going forward this week. all right, jim dickey live from the accu-weather center. thank you for that. i did an interview earlier tonight with a man who handles emergency management in the city of new orleans. the pumping system is far better than seven years ago on this day when katrina hit, spent billions to upgrade it. so we are talking 15, 20 inches of rain or even more that will test the limits of what we can do. some flooding in the area. corps of engineers designed that $14.4 billion. let s hope the pumps do their job. the first real test since katrina. that s the one silver lining maybe. we ll be back with more after this. katrina. that s the one silver lining maybe. we ll be back with more after th
market was basically flat, top hedge funds handling investments for the superrich still found ways to make big money. it was a pretty good year for hedge funds overall in a tough market. but nothing like some of the years previously. reporter: ar magazine reports that the top 25 managers combined took home $14.4 billion last year, a staggering amount of money, but less than the previous two years. topping the rich list, ray dallio, who earned $3. billion, mostly by betting on u.s. treasury. my customers are pension funds, teachers. i did well when others didn t. and they are very grateful. reporter: two years in a row, dallio s firm earned more than google, yahoo, amazon, and ebay combined. for a billionaire, ray dallio is actually a fairly regular guy. it s not about spending the millions, it s about making more
straight sessions. that is causing havoc on 401(k) s. the market has exchanged $3 trillion since july 2nd. and more gerri with fox top story. with all the havoc going on, what are people doing with their money? yanking it out of stock funds, $14.4 billion the fourth rate in a row, and i have to tell you, it is only balanced by the amount of money going into money markets, mutual funds, those are safe funds considered very safe funds $47.5 billion into money market funds. you can see the difference as folks try to find a safe place to be. it is difficult. but the spending numbers show that people are spending money,
highest rate since march. gerri willis of the fox business network is live with us. what does that tell us exactly. consumers are reacting. small investors reacting by pulling their money out of the markets. reports from lipper shows $14.4 billion out of mutual funds, stock mutual funds where are they putting it? putting it in money market mutual funds considered much safer. some $48 billion went into money market mutual funds. that is the biggest weekly net gain since february of 03. people looking for safety in this marketplace. a place they think they are not going to lose money. but, after all the negative headlines, gerri, that we have seen over the past month, it really is no surprise that report out today showing americans are feeling less confident about the economy. i have got to tell you there were two conflicting reports. one was retail sales from the previous month but then consumer sentiment. the consumer sentiment report is the last two weeks. it shows the consum
i m moving so i called our wives. thank goodness for cell phones. doctors say they are going to be fine. fox business alert for you now. moments ago, ford reported its highest yearly profit in more than a decade. ford that did not take bailout money made $6.6 billion last year as sales jumped 20% in the united states alone. meantime, general motors has withdrawn its application for $14.4 billion in federal loans. the automaker says it has enough cash now to upgrade its manufacturing operations without anymore federal help. all right, more than 170 teachers in one public school district may get the pink slip when the state s federal stimulus funding runs out this year. houston teachers received the layoff notices yesterday but hundreds of public school employees statewide face the same problem. the stimulus helped create the jobs but now those positions could disappear. it comes as texas faces a multibillion dollar funding shortage that could cost up to