A warm weekend with isolated rain and storm chances.  We're watching a system in the open Atlantic that could develop by late next week.

Our Top National Story:  Another volitale day on Wall Street with the Dow finishing down more than 400 points.  Traders blame several factors, not just the fear about European banks.  Asian stock markets are sharply lower today.  It has the untrained investor asking whether a new recession is on the way.

Hear Jamie Dupree explain how the sour markets will be shared with the President on his "working vacation". 

Our Top Local Story:  Bank of America is looking to cut thousands of jobs nationwide, leaving some uncertainty in Jacksonville, where more then 7,000 people work.  Late last year the bank announced it would hire 1,000 new employees here--it's unclear what today's announcement means to those, and other jobs.

Florida's dismal employment picture has brightened a bit.  The U.S. Labor Department reports Florida last week had the biggest drop in applications for unemployment benefits of any state.  State officials, meanwhile, will release the state's July unemployment figures this morning. 

Many homeowners in Jacksonville will see their property tax bills go down this year.  While that may be good news in terms of monthly expenses, the bad news is that means their property values have also significantly dropped.  That also means the City of Jacksonville stands to lose 53-million dollars in tax revenue.

A pair of Mexican restaurants are told to pay up.  The Labor Department sued two La Nopalera restaurants, accusing them of denying overtime pay to kitchen employees and forcing wait staff to sign their paychecks over to the company.  The restaurants are ordered to pay nearly one-million dollars in restitution and damages to 30 employees.

A 16-year old involved in an early morning accident yesterday while riding his bike is still in critical condition at Shands.  Police say Sam Bellett was riding eastbound on the sidewalk of Greenland Road approaching the entrance to Mandarin High school when he went directly into the path of a car.  A witness tells us the boy was on the way to a cross country practice when this happened.

Parents of students attending Duval Charter School were outraged that a business identifying itself as a gentleman's club opened right next door.  Now, the sign for Stiletto's, whose owners say is only a restaurant, has the words "Gentleman's Club" blacked out.  By law, adult businesses must be more than 15-hundred feet away from schools.  Violators face fines of 250 dollars a day.

Homeowners on the Westside are on edge as a serial arsonist is on the loose.  Investigators believe that person is responsible for three fires, all of which were set around the same time.  Two were on Melvin Road, the other on Bambi Lane.

A new millionaire in our own backyard.  A 20 million dollar winning lottery ticket was sold at Weedman's Grocery Store on State Road 13 earlier this week.  According to the Times Union, a man nicknamed "Bubba" bought the ticket...and the store clerk says he's one of their regulars.

If you're in the military, your pension benefits are under the microscope.  A business advisory group to the Pentagon is recommending a 401-K style system to replace the current pension program.  For years, the rule has been 20 years of work, then half of your pay for the rest of your life.