Author: Monique Danao

Blue Diamond Growers will permanently close its flagship Sacramento processing plant, which will result in the loss of approximately 600 jobs in the region. The 115-year-old company blamed maintenance costs and persistent inefficiencies for the shutdown.

The company will consolidate manufacturing work into its existing facilities in Turlock and Salida, which are located in California’s Central Valley.

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“Our Sacramento team’s work ethic and incredible drive have enabled us to build Blue Diamond into what it is today,” CEO and president Kai Bockmann told ABC News.

“However, the challenges of running a plant from these historical buildings has become too costly and inefficient. Streamlining our manufacturing plants is the right business move.”

End of an era

Founded in 1910, Blue Diamond has long been a fixture in California’s agricultural sector. In the meantime, the cooperative is offering severance packages, relocation support and incentives to 600 employees to help with the transition.

Despite the company’s assurances, the closure has sparked concerns about Sacramento’s ability to support major businesses.

“Proof is in the pudding,” Sanjay Varshney, a finance professor at Sacramento State University., told ABC News.

“Blue Diamond walking away is just another sign that there’s something wrong with how we are doing business here.”

Varshney cited Sacramento’s high cost of living, burdensome regulatory environment and business-unfriendly conditions as key deterrents. He dismissed the idea that international trade or tariffs were the main reasons for the closure.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

What to do when facing layoffs

A layoff can make a big impact in your financial situation, not to mention your emotional well-being. The good news is you can help navigate the fallout with a clear game plan.

Know your benefits and severance: Insist on everything in writing and review every aspect of your exit package including your severance pay, company-sponsored health coverage and any outplacement services.

If your employer-provided health insurance ends, consider COBRA coverage or explore plans through Covered California or Healthcare.gov. Losing a job qualifies you for a special enrollment period.

Apply for unemployment insurance immediately: File a claim through your state’s unemployment office. Unemployment benefits become available only after your claim is processed, so don’t delay.

In California, most workers qualify for 50% of their regular wages, up to $450 per week for as long as 26 weeks, though exact amounts depend on prior earnings and state rules.

Reassess your finances: Review your monthly expenses and cut nonessentials. Use emergency savings wisely and contact lenders or utility companies to discuss bill assistance programs or payment deferrals if needed.

Update your resume and tap your network: Network with former colleagues, industry contacts and career counsellors. Inform your LinkedIn network, for example, that you’re open to work and consider attending local job fairs or virtual networking events.

Consider retraining or upskilling: Free or low-cost training programs are available through local workforce development centers and platforms like Coursera or LinkedIn Learning. Focus on in-demand fields like health care, logistics and technology.

Blue Diamond’s shutdown echoes a nationwide surge in layoffs. The U.S. Bureau of Labor Statistics reports that 1.8 million workers have lost their jobs in 2025.

In Sacramento, the loss of a century-old employer underscores that even the most established businesses can falter amid shifting economic currents — and highlights the urgency of diversifying the region’s economic base.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

For Fran Sullivan, living in a Florida condo has become financially unbearable.

“I’ve seen my condo HOAs at $450, double in two years to $900, and I’ve seen thousands of dollars in assessments. That’s what it’s cost us,” Sullivan, a condo owner in St. Petersburg, told ABC Action News.

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Across Florida, thousands of condo owners are facing similar financial pressures as homeowner association (HOA) fees and insurance premiums skyrocket.

Surfside collapse drives up condo expenses

The 2021 Surfside condominium collapse, which claimed 98 lives, prompted Florida lawmakers to enact sweeping safety regulations.

The disaster exposed widespread structural vulnerabilities in the state’s aging condo buildings.

The resulting legislation requires milestone inspections and structural integrity reserve studies for condos 30 years or older and three stories high, as well as strict funding requirements for future repairs.

The compliance deadline — Dec. 31, 2024 — triggered fee hikes and surprise assessments. Some owners, like Sullivan, have already paid thousands for repairs with little warning.

“A lot of people here were financially strapped for doing this, myself included,” said fellow condo owner Tyler Clee.

“To come up and say, I need $10,000 in three months — for most of us, that’s not realistic.”

The financial fallout is chilling Florida’s condo market. Listings in areas like Pinellas County have been sitting on the market longer, ABC Action News reports, as buyers balk at unpredictable costs.

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Condo owners criticize late reforms

In response to mounting pressure, lawmakers passed House Bill 913 — the latest revision to the post-Surfside condo reform. While core safety rules remain intact, the bill includes key concessions:

• A one-year delay in funding structural integrity reserve deadlines.
• Permission for associations to use loans or lines of credit instead of cash.
• Clarification from inspectors on which repairs are safety-related.

The bill also allows electronic voting to engage more owners in financial decisions. For many residents, the changes come too late. Sullivan’s building has already set its budget and has completed major repairs based on the earlier deadlines.

“It’s too little, too late,” she said.

“I was hoping they would have done that before the end of last year, because we were forced into a position, because of the timeline, that we had to take care of all of that. … Now, I’m not sure if other condos could be helpful to them, that’s great. It’s not for us.”

Instead, residents hope for zero- or low-interest loans to offset assessments that weren’t included.

Potential solutions

While the new law offers short-term relief, many say broader reform is needed. One of the biggest frustrations is that the legislation does little to address soaring condo insurance.

Experts and residents alike suggest more balanced, long-term strategies. These could include:

• Phased timelines. Allow condo associations to resolve urgent repairs first and offer extended deadlines for less critical upgrades. That way, owners have time to plan, save and avoid sudden, unaffordable assessments.

• Means-tested aid. State-backed grants or low-interest loans to seniors and low-to-moderate-income residents to help cover extensive assessments or emergency repairs.

• Tax incentive. Provide tax credits or deductions for unit owners or associations making qualified repairs — such as structural reinforcements, roofing or waterproofing.

• Exemptions or relaxed rules. Exempt or reduce requirements for small, low-rise or recently constructed condos with clean inspection records.

As Florida’s condo communities grapple with the financial fallout of much-needed reforms, many hope lawmakers will allow sustainable recovery. The goal being to ensure staying safe doesn’t mean losing your home or going into debt.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The streets of Oak Park, Illinois, erupted in chaos when $300,000 in cash spilled from a Brinks armoured truck into the street.

“People were running down the streets with money bags,” Nicole Phillips-Edwards, an Oak Park resident, told CBS News Chicago.

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Although she did not witness the unfolding event, Phillips-Edwards says police arrived at her home to provide details of the incident.

Bystanders scramble for found money

In a scene reminiscent of a Hollywood heist, Oak Park turned into a frenzied free-for-all when the back door of a Brinks armoured truck suddenly swung open and three bags of cash, worth $300,000, tumbled out.

The Brinks driver reported to police that a swarm of people — estimated between 50 and 100 — rushed to collect the loose bills scattered across the street. Bystanders stuffed their pockets with cash and fled the scene.

With the police involved in the investigation, authorities are scrambling to track down those who took part in this unusual incident. If caught, individuals involved may experience serious legal consequences.

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The legal line between found and stolen

According to Illinois law, the rules regarding found property are clear: If a person comes across lost items, including money, they are legally obligated to return them to the rightful owner — in this case, Brinks — without expecting any form of compensation.

Former FBI agent Mike Driscoll shared insights on the challenges of apprehending suspects in this scenario.

“In an instance like this where you’re talking about loose cash, that’s very, very difficult,” he told CBS News.

“Law enforcement will have to rely on old-fashioned investigative techniques.”

Investigators will likely comb through surveillance footage and interview witnesses to identify potential offenders.

Anyone who keeps lost money can face severe penalties. If someone commits property theft of between $500 and $10,000, they may be charged with a Class 3 felony. Individuals caught may face a prison sentence of 2 to 5 years, alongside fines reaching up to $25,000.

Depending on the amount, passersby who believe they found an extraordinary stroke of luck may instead face court appearances and lasting criminal records.

Returning found money

As the investigation continues, the incident serves as a cautionary tale: When you come across lost cash, report it immediately to local authorities.

If you find cash or property valued at $100 or more in Illinois, you must file an affidavit within five days.

This document should detail what you found, where and when you discovered it, and affirm that you have no knowledge of the rightful owner — and have not kept any portion of the money or property.

In the meantime, Village of Oak Park spokesperson Dan Yopchick told USA Today that the Oak Park Police Department is continuing to investigate the incident. Any witness who can share valuable information can contact the department by calling 708-464-1636 or visiting www.oak-park.us/crimetip.

As the dust settles on this freak event, those who seized the moment may find that the real cost of their actions is only beginning to emerge.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Medical emergencies can derail even the most carefully planned budgets. That’s exactly what happened to Alex, 34, who lost his job last month and was soon blindsided by an unexpected $8,500 medical bill. The debt has already been sent to collections, and his credit score has taken a hit.

Unfortunately, Alex is far from alone. According to the Peterson-KFF Health System Tracker, about 14 million Americans owe more than $1,000 in health-care debt, and 3 million people owe more than $10,000.

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While recent reforms offer some protections, medical debt remains one of the leading causes of financial hardship in the United States.

Know your rights: The No Surprises Act

If you’ve been hit with a surprise bill, it’s worth checking whether it violates the No Surprises Act, which took effect January 1, 2022.

This federal law protects patients from unexpected charges that result from receiving out-of-network care at in-network facilities.

For example, if you were unknowingly treated by an out-of-network doctor in an in-network hospital, the No Surprises Act prevents you from being billed beyond your deductible, coinsurance or copayments.

You also have the right to receive a “good faith estimate” for non-emergency care if you’re uninsured or self-paying. This estimate should outline the expected charges before treatment. If the final bill exceeds the estimate by more than $400, you can dispute the charges through a formal patient-provider resolution process.

How medical debt impacts your credit

The good news is that recent changes to credit reporting have softened the blow of medical debt. The three major credit bureaus — Experian, Equifax and TransUnion — no longer report unpaid medical collections under $500. Paid medical collection debt is also no longer included on credit reports.

That said, larger unpaid debts — like Alex’s $8,500 bill — can still appear and remain on your credit report for up to seven years, hurting your score and future borrowing ability.

However, you typically have a 365-day grace period after the bill is sent to collections before it appears on your credit report. This gives you time to fix billing errors, work out a payment plan or negotiate a reduced amount.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

What to do if you can’t afford to pay

If you’re facing a large medical bill with no way to pay it off, consider these steps:

• Check for errors: Medical bills are often inaccurate. Request an itemized invoice and verify each charge with your insurer.
• Negotiate: Many providers will accept less than the full amount if you can pay a portion upfront. Ask if they offer discounts if you pay a certain amount in full.
• Set up a payment plan: Hospitals and clinics may allow monthly payments. However, take note of the interest or fees charged by the provider.
• Apply for financial assistance: Nonprofit hospitals offer charity care. You may also qualify for Medicaid, local government aid or help from religious or nonprofit groups.
• Hire a medical billing advocate: These professionals can dispute errors and negotiate on your behalf. They typically charge a fee or a percentage of what they save you.
• Avoid high-interest debt: Using credit cards or personal loans should be a last resort. If you must, look for a 0% APR offer and pay it off before interest kicks in.

Rebuilding your credit

If your score has already taken a hit, it’s not the end of the road. Focus on paying your other debts on time, keeping credit card balances low and checking your credit reports for mistakes. Once your medical collection is paid, it will be removed from your report.

Medical debt can feel overwhelming, but it doesn’t have to define your financial future. By knowing your rights and acting quickly, you can take back control and protect your credit moving forward.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A Rosemead, California, woman says she’s had strangers arrive at her front door after a scammer falsely listed her home as a short-term rental online.

“We found out our house was listed on Booking.com,” Alexis Cavish told KTLA 5 News in a story published May 16. “We are not renting out our house.”

Cavish says she doesn’t even have an account with the website. The address on the listing was hers, however, it included photos of another property, and was priced at nearly $400 per night. She’s had to turn away visitors looking to check in with booking confirmation emails in hand.

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“Luckily, so far, the people have been really nice,” Cavish said. “But they’re strangers coming to the house where I have kids.”

She criticized Booking.com for publishing listings without any verification.

“I’m frustrated because the company is not doing its due diligence,” she said. “Why doesn’t the owner have to prove some ownership before charging people money to stay?”

A growing trend in online rental scams

According to KTLA 5 News consumer reporter David Lazarus, this type of fraud is becoming more frequent.

“It’s a common enough scam that there’s a name for it — short-term rental scams — and it’s most common on Airbnb and Booking.com,” Lazarus said in the report.

These scams can involve criminals creating fake listings using either stolen or generic photos and attaching them to real addresses. Some booking platforms rely on automated systems, which can allow fraudulent listings to go live without being flagged or verified.

The rise of digital platforms and third-party payment apps has made it easier for scammers to exploit homeowners and renters. In cases like Cavish’s, the fraud is a financial and safety concern.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to protect yourself

Lazarus warned travelers to proceed cautiously when booking short-term stays online.

“In terms of any payment, communication, don’t leave the platform,” Lazarus said. “So, if the listing says they want you to pay with Zelle or Venmo or some other digital payment plan, and especially if they ask for crypto, walk away.”

Another simple precaution is to cross-reference the property’s address with Google Maps. If there are exterior photos of the building in the listing and they look different, that’s a major red flag.

One more tip is to verify hosts and read reviews carefully. When a listing lacks reviews or seems too good to be true, it just might be.

For homeowners, checking periodically to ensure their property isn’t being misused online and setting up Google alerts for their home’s address may help catch scams early.

Meanwhile, if you find a suspicious listing, consider reporting it to the platform. Some platforms have dedicated channels for reporting fraud, and flagging a suspicious listing can prevent others from falling victim.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

She’s debt-free, has some savings and no major expenses. But at 60, Andrea still isn’t sure she can buy a home or retire — and she called into The Ramsey Show to ask if it’s even possible.

“I want to own a home and retire one day,” the Phoenix, Arizona resident told co-hosts George Kamel and Dr. John Delony.

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But with a modest monthly income of $2,864 and no retirement strategy in place, she’s unsure how — or if — she can make that dream a reality. Here’s the skinny on her retirement plan and how it can help you.

Breaking down her income

Andrea lives with her son and his family and only pays for car insurance, gas and the occasional incidental. That leaves her with approximately $2,154 each month to save.

She has $69,000 in a 401(k) and $45,000 in a savings account. She’s also considering relocating to Ohio, where her aging siblings live, to be closer to family and cut living costs.

Andrea works in medical records and hopes to move to a remote role at her company that pays about $40,000 annually. She’s also certified in medical coding but hasn’t worked in that role.

The hosts quickly identified her biggest hurdle: boosting her income.

“What you’re facing here, Andrea, is an income problem,” Kamel said. “We’ve gotta get your income up because that’s going to create more margin for you to save for that home.”

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Saving for retirement at 60

Starting late doesn’t mean it’s too late. At 60, Andrea still has solid options to grow her retirement savings.

1. Put money away for a down payment

The hosts recommended using her $45,000 as both an emergency fund and a down payment reserve. They advised setting aside three to six months’ worth of living expenses as a safety net, with the rest going toward a future home purchase.

2. Invest 15% of her income into retirement

Andrea said she’s currently investing only about 1%. The hosts stressed that saving alone isn’t enough. They encouraged her to invest in mutual funds through her retirement account. If done consistently, she could see 10-12% average returns over time.

3. Pursue higher-paying roles

With her experience and certification in medical coding, Andrea could land a better-paying remote job. While her starting salary is $40,000, the field offers room to grow.

“ Even if it’s not the exact role you want, I would just try to get on a ladder,” Kamel said.

4. Continue living with family or find a roommate

To keep saving aggressively, the hosts suggested Andrea stay with her son or consider moving in with her siblings once she’s in Ohio.

“It might not be ideal,” Delony said, “ but I love the idea of you saving money over the next five or 10 or 15 years until somebody can help you.

5. Adjust expectations around retirement

Andrea may need to work into her 70s to reach her goals. That’s not uncommon — in 2022, 24% of men and about 15% of women ages 65 and older were still in the labour force, according to the Population Reference Bureau.

“ You know you got $69,000 in that retirement account,” Kamel said. “(If) you keep investing, let’s say, a thousand bucks a month. If you can do that to 72, you’ll have over half a million in that nest egg. ”

He added that she could also get a reasonable mortgage to avoid paying rent forever.

Andrea’s situation underscores a growing concern for older Americans: how to make a smooth and comfortable transition to retirement. The co-hosts stressed that with focus and a solid long-term plan, Andrea still has a real shot at a meaningful future.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.