good morning, america. bank collapse. regulators shutting down silicon valley bank, the largest banking failure since the 2008 banking crisis. the shockingly fast downward spiral. >> all our money is in the bank. i don't know how we're going to do our payroll. >> what it means for customers like roku, the markets and the banking system. nonstop storms. extreme weather crushing california with more than 10 inches of rain. the life-threatening flooding, the massive dam release. plus, slammed with more snow, a roof collapse caught on camera. plus, storms hitting the midwest and northeast and the severe

2024 republican presidential toins.ls declared and undeclared dold rtigly new video showing the loti where ficans d aexang cahe. the new details on t ss and charges. convicted killer sentenced. paul flores to serve 25 years to life for the killing of kristin smart nearly three decades ago. finally freed. a judge overturns a conviction of a man behind bars 18 years for a crime he didn't commit. what he's saying now as a free man. and countdown to the oscars, "gma" and hollywood. the predictions and what we're learning about the performances. my one-on-one with angela bassett up for best supporting

actress. >> have i not given everything? >> the insight she's sharing into her role. plus, the making of an oscar-nominated song. the team behind rihanna's "lift me up" sits down with "gma." plus, we're behind the scenes of the oscars. my sit-down with academy ceo will kramer. how the show is moving forward after the oscar slap and the decision to get rid of the red carpet. ready for your close-up? "gma" with the style secrets for an award-winning look. good morning, america. we should have worn gold this morning. >> we should have worn something shimmery. i'm excited to see whit. oh, there. he's not wearing a bow tie yet, but whit's going to wear a bow tie tomorrow. >> whit johnson and linsey davis are covering the oscars joining us this morning from los angeles. guys, it's not actually morning there yet, is it? >> o-dark-hundred. >> yeah, exactly.

yeah, yeah, dark and early, we like to call it, and, yes, the bow tie is coming tomorrow. we're so excited. good morning to you from the dolby theatre right here in hollywood as we gear up for the 95th academy awards. already one of the big changes you'll notice this year, the champagne carpet, linsey. >> the red carpet is no more. they knew that it was our first time, and they were like, we got to change it up for whit and linsey. >> yeah. >> so what do you think about it? >> i felt like i needed to take my shoes off before i walked on it first. but we'll see how this thing holds up. >> kind of more of a beige than a champagne. >> oat milk, but it's nice. >> we have lots of excitement including sit-down interviews, . >> that is what i think, i think, most looking forward to this morning, linsey, your sit-down with angela bassett. that carpet -- >> i thought you were going say the oat milk. >> that oat milk is the color

of my coffee. you guys look dapper. we will check back in just a bit. also ahead, tome coverage of that winter weather in california. so many areas already in a state of emergency after massive back-to-back storms. we have team coverage. we do begin with that news sending shock waves throughout the financial world, silicon valley bank, the second largest bank collapse in u.s. history. jaclyn lee is outside a branch here in new york. jaclyn, good morning to you. for now customers are without their money. >> reporter: that's right. good morning, janai. this is the second largest bank failure in u.s. history falling behind washington mutual's collapse in 2008. customers scrambling to find when they will get their money. this morning, silicon valley bank's collapse causing chaos for its customers largely in the tech and venture capital space as they rush to withdraw their money only to be out of luck for now. the tipping point coming when silicon valley bank announced it needed to sell assets to shore

up fince that sparked a run on the bank leading to the fdic shutting it down friday. >> all our money is in the bank. i don't know how we're going to do our payroll. >> reporter: a former lyft exec said building managers called the police when enand a few other financiers tried to access their funds, and they left without incident. silicon valley bank was a favorite of the tech industry already squeezed by higher interest rates and did business with companies like shopify and pinterest. not well known outside silicon valley, it's the nation's 16th largest bank and considered the biggest bank collapse since the 2008 financial crisis. according to the fdic, silicon valley bank had approximately $209 billion in assets and $175 billion in deposit at the end of last year. >> we're expecting like some difficulty and hoping that we can get at least an idea of are we losing money, how much money have we lost. >> reporter: streaming provider

roku announcing it had $487 million or 26% of its cash e nk coany's desi lgely unin the collapse also rattling financial markets with the dow jones industrial average closing the week at more than 300 points down. amid all the uncertainty the bank's collapse has caused in the tech space, one expert says the larger banking system is stable. >> they have very good risk management since the financial crisis because of changes brought after the crisis. so i think the banking system is probably as strong as it's ever been. >> reporter: it's important to note that the fdic standard insurance covers depositers up to $250,000. the fdic announcing all insured depositors will receive their money no later than monday morning. >> a big talking point because obviously that means millions left unsured. jaclyn, thank you so much. and svb is the biggest bank to fail since the collapse of the banking system in 2008. the biden administration now says that it is closely monitoring developments, so let's bring in abc's elizabeth

schulze, who is at the white house this morning with the latest. elizabeth, good morning to you. >> reporter: janai, good morning to you. the white house insists that the banking system is in a stronger and safer position today than it was during the 2008 financial crisis, but top u.s. officials tell us that they are closely monitoring silicon valley bank's collapse and any ripple effects on the tech sector. treasury secretary janet yellen told lawmakers on friday that when banks experience financial losses, it is and should be a matter of concern adding that there are a few banks that she is monitoring very carefully, and as this news unfolded, yellen met with top banking regulators here in washington praising their swift action and calling the system resilient, janai. >> and, elizabeth, as so many people are talking about this, a big question, would the administration consider a bailout if the chaos continues within the tech industry? >> reporter: well, the administration for now, janai, staying away from that word bailout. analysts tell me that it's still more likely that another company would buy silicon valley bank's assets.

as of right now regulators are really quick to point out that banks have had to shore up cash cushions because of the new rules that went in basically to prevent another bailout like we saw back then, about how higher borrowing costs from the federal reserve are making it harder for some businesses to cover their expenses and causing broader uncertainty in the economy. eva. >> elizabeth schulze, it will be interesting to see how this all plays out, thank you. well, now to tou california.omonop ville, cif >> reporter: hey, good morning, eva. boy, this state has gone from extreme drought to extreme rainfall, getting a well k.j. committee back at least for now but winter storm warps are up as well as so many californians are dealing with the aftermath of the latest atmospheric river.

this morning, california reeling from the latest round of extreme weather. president biden now approving a state of emergency. in kern county evacuation orders are up as life-threatening flooding envelopes buildings. >> look at how violent that water is. >> reporter: floods raging through the streets of this county. firefighters helping residents escape the rising waters pulling some of them out by boat. water up to their thighs in this flooded neighborhood and others filling sandbags trying to save their homes from the flooding and in the sierra nevada foothills rivers raging from the intense rainfall. fowing over their banks coming dangerously close to homes. heavy rain pummeling santa cruz county, roads completely caved in. >> i've lived here my whole life, and i've never seen the creek go actually through the road. >> reporter: in san francisco, trees crashing down smashing cars. across the bay in oakland one person is dead and another injured after this warehouse roof collapsed. authorities investigating if weather was the cause.

and north of sacramento, the orville dam opening its main spillway for the first time in nearly four years. how fast is that water pouring out of the lake right now? >> so, right now we're releasing 8,000 cubic feet per second of water. that's equivalent to a basketball of water, so 8,000 basketballs every second coming down this spillway right now. >> reporter: and that water is many coming out of the second largest reservoir in the state of california & through the tallest dam in the united states. that's a welcome sight compared to the drought and dry images we've seen in the past couple of year, but it's obviously too much of a good thing. all this rain all at once has presented its own set of difficulties and so many californians are having to deal with not just this storm but the ones that come later this week. eva. >> extremes are never good. rob marciano, thank you so much. well, the atmospheric river is pounding higher elevations with even more snow and dangerous winds. abc's demarco morgan joins us from los angeles with more. good morning, demarco. >> reporter: eva, good morning

to you. some parts of the state just can't catch a break. let's head to the sierra nevadas where eight more feet of snow is expected, and that's on top of what they've already received in back-to-back snowstorms, but residents now concerned about roof collapses as a result of the extra heavy snow. now, those same concerns shared by residents in lake tahoe after seeing a roof collapse at a museum that was caught on surveillance camera. lake tahoe known for its famous resorts forced to close down, close some of its businesses. in fact, one resort here said it had to shut doors on friday after experiencing 139-mile-per-hour winds. as of snow totals, now the mount rose ski area, it received up to 61 inches of snow so far east of l.a. in the san bernardino mountain communities where i was a week ago covering the snow there. many of those communities were shut off for days. now the deaths of 13 snow-bound people are being investigated and the county's sheriff's department says they are

waiting on the coroner to come up with an exact cause of death. >> thanks, demarco. let's a check of the forecast. plus the outlook for the east which is also facing a new round of wintry weather. meteorologist somara theodore has more from tarrytown, new york. good morning to you. >> reporter: good morning, eva. here temperatures are hovering just above the freezing mark so we're starting to see that change over to rain, however, that wasn't the situation yesterday. take a look at this footage from erie, pennsylvania, where we're seeing tons of snow coming down lowering visibility along the highways and interstates there that led to treacherous driving conditions. you see a trailer jackknifed here, so things are very difficult yesterday with the snowfall, but i have good news. if you have plans on the east coast, this storm system is going to bank out of here by this evening, so your sunday is really looking up. now, let's head out west where the situation is different and a bit more dire. heavy rain coming down right now in the foothills

of the sierra nevada. as far as timing goes, we anticipate the heaviest of rain to move through tomorrow morning, so they're not done yet. this will lead to flooding, of course, mudslides, as well as downed trees and even roofs collapsing. 6 to 10 inches possible in northern california. janai, back to you. >> unbelievable to see that area go from drought to just inundated. thank you so much, somara. turning now to the race for 2024, more than a year and a half out from the election, but big name republicans are wasting no time this week descending on the state of iowa hoping to carve out support ahead of the crucial caucuses early next year. abc's senior congressional correspondent rachel scott is there. [ applause ] >> reporter: this morning, top republicans descending on the hawkeye state less than a year out from their crucial first of the nation caucus. >> i bring greetings from the free state of florida. >> reporter: florida governor ron desantis making his first trip to iowa touting his agenda in florida and sending his strongest signal yet that he's considering a run for the white house. >> we were shifting people in our direction because they were

responding to leadership. >> reporter: hundreds packing in. desantis drawing clear contrasts on issues like the pandemic. he kept florida largely open. >> the state of florida stood as a refuge of sanity. >> reporter: and immigration, highlighting his controversial decision to spend millions to fly migrants to other states. >> they said they were a sanctuary area. >> reporter: as the race for 2024 heats up, voters tell us they are bracing for a crowded field. >> did you support trump last time around? >> yes.ut ts unyore g an o and tell me why. esndsef not ness ainst donald trump per, but he's not the only person in the race. >> reporter: republican candidate and former u.n. ambassador nikki haley on the trail in iowa too. >> we started calling things out that needed to be called out. i think that if the u.s. is going to be there, we need a loud bullhorn to make sure we're being tough on foreign position. >> reporter: former president trump still looms large over the 2024 race.

desantis never mentioned him by name, but he did say this. >> we don't have palace intrigue. we don't have any drama. it's just execution every single day. >> reporter: former president donald trump will be in this state on monday. as for florida governor ron desantis, sources tell us that he has privately indicated to allies that he intends to run for president in 2024. that announcement likely will come after the legislative session ends in florida around may. guys. >> rachel scott for us, thank you. now to the sentencing in an infamous murder case that goes back more than 25 years. a judge handing a 25 years to life sentence to paul flores who was convicted of killing kristin smart, a college student who disappeared in 1996. abc's mona kosar abdi has the story. >> mr. flores, you have been a cancer to society. >> reporter: this morning, a nearly 27-year true crime saga coming to a dramatic close. paul flores, the man accused of killing california college student kristin smart back in

1996, sentenced to 25 years to life behind bars. >> it is necessary to remove you from society so that you can no longer prey on and victimize women. >> reporter: her grieving family addressing the court. >> our loving, tenacious and beautiful daughter's life was stolen by a cowardly rapist. the life as we knew it was gone forever. >> reporter: according to investigators, paul flores was the last to be seen with kristin smart after she left a house party. >> but i remember her walking away, though. >> some of the things you're telling us aren't adding up. >> reporter: in newly released video taken shortly after her disappearance, paul seemingly caught in a lie when investigators say he kept changing his story about how he got a black eye. >> well, no, why was it so hard for you to tell us that you got that black eye hitting the steering wheel? >> it didn't really matter. >> reporter: but despite the mounting evidence, paul would spend the next two decades as a free man until viral

podcast titled "your own backyard" helped reignite interest to the case and bring forth new witnesses. in 2021 paul was arrested and charged with first degree murder. his father ruben flores also charged with helping to cover up the crime. >> there is no evidence against me or paul. >> reporter: during the trial prosecutors found a long pattern of abuse and rape allegations against paul that spanned over 20 years. the jury convicted paul of murder and acquitting ruben flores. kristin's body has never been found. her family still desperate to give her a proper burial. flores has 60 days to file an appeal. if he chooses to do so, he will be eligible for parole for 15 years. their parents are married for 50 years and say they spent half that time searching for their daughter. >> heartbreaking. mona, thank you. time now for a check of the weather and somara theodore out there. it's already wet out there, somara.

>> reporter: good morning, janai. we also have our eyes on the upper midwest where right now we're seeing blizzard warnings going off, seeing anywhere from one to two inches of snow per hour, but the southern tier of this storm, that is going to bring severe weather to parts of the southeast, and that's going to track through this afternoon into your sunday morning. the threat is going to range from strong, gusting winds and hail, but we also have a chance for tornadoes, as well, through parts of little rock and into the areas like florida and alabama. that's a look at your forecast.

and that's your local forecast. it's pretty chilly out here. i think i'm going to go try to warm up a bit. if you have saturday plans, eva and janai, the good news we're drying out by this afternoon. >> sounds good. >> i was looking at the 87 in miami thinking i need to make a trip. thanks, somara. > were tthwood. morr'sscony.nd linsey. hey, guys. >> we actually need to dry out here in l.a. >> believe it or not. yes. >> lots of buzz here on the champagne carpet building excitment for the big night tomorrow. >> absolutely, and abc's chris connelly is here and i believe you put together some of your own oscar categories, right? >> well, that was my feeling. you know, they're giving out 23 different awards come sunday night. and my question is, is that enough, 23? no, we need more. so we're giving you a few more categories to think about for

sunday. best category, it's got to be best actor boasting at least three possible winners, soaring young star austin butler, who electrified elvis. colin farrell, perfect in "the banshees of inisherin" and long beloved brendan fraser poignant in "the whale." >> people are incapable of not caring. >> reporter: best decision. in concert with host jimmy kimmel oscars 95 show runners ricky kirshner and glenn weiss say there will be no celebrity disfests from the stage. >> what we want to do is have a next one. jimmy has been great about that. >> reporter: best home field advantage. angela bassett in supporting actress is the only nominated actor whose movie "black panther: wakanda forever" premiered at the dolby theatre. will it give her the edge over "everything everywhere's" jamie curtis.

best performance, great rihanna will be great with child as she sings "lift me up" on the oscar stage. ♪ lift me up ♪ >> reporter: best speech, who would be better than best. >> translator: nominee michelle yeoh, the journey from her beginnings and "crouching tiger, hidden dragon" to her on screen triumph in "everything everywhere" is already the stuff of legend. if she wins, expect oscar producers to allow her some time. >> we are not there with a stop watch. if you're going to give us a great speech and a great oscar moment as you asked before, we won't play you off. >> reporter: best '90s comedy, who could have imagined the team comedy "encino man" starring pauly shore would one day produce two oscar favorites, dan st producer, it's m uise, right? not just for saving the summer movie season with best picture nominee "top gun: maverick," but for, um, motivating the "mission: impossible 7" crew back in 2020. >> i don't ever want to see it again, ever, and if you don't do it, you're fired.

if i see you do it again, you're [ bleep ] gone. >> reporter: and for -- >> this is far and away the most dangerous thing we've ever attempted. >> reporter: overseeing that incredible midair stunt and, yes, doing it too. if cruise is holding an oscar at the end of the night, it'll be unforgettable. tom cruise most recently a nominee in 2000 as supporting actor for "magnolia" and he should have won then, guys. absolutely. >> i want more chris connelly categories. >> i think that was genius. >> i've got a few of them to share. >> thank you, chris. >> thank. we will be right back from the champagne carpet here in hollywood including my interview with actress angela bassett. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this.

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ane. od morngforwarinng sutions ybodyi'lizs now underway in haywardfter cremated bodies were found in storage, some up to 10 years, authorities say ocean view cremations corporation allegedly operated

on a suspended license enforcement found six bodies and 154. crematory ins back in february. families trying to find loved ones have not been able, their remains have not been able to contact ocean view . abc seven reached out to the company but have not heard back and all right. lisa arjun. good morning to you. let's go check outside. all right, liz. for most of us, it's cloudy, but our exclusive abc seven storm impact scale keeps us in the level one today look at the rain around mount st helena highway 12 calistoga. through grayton, so scattered showers throughout the day, upper fifties and we'll keep this in the forecast for your sunday. alright

♪ hold my hand, everything will be okay ♪ this is my jam right here. >> i figured. >> yeah. get my '80s vibes and everything. >> i was waiting for your dance moves, whit. >> no, no, no. i got to save something for the champagne carpet tomorrow. welcome back to "gma" on this saturday morning. we are here in los angeles counting down to tomorrow's oscar ceremony. coming up, we'll take a look at the competition for best original song. that's pitting lady gaga right there against rihanna. i sat down with "black panther: wakanda forever" star angela bassett, who made history by nabbing a first oscar acting nod ever for the marvel cinematic universe, also known i'm told by whit as the mcu.

i'm in the know. >> big time. >> all right, let's get back to eva and janai in new york. >> he was ready to school everybody. >> we're waiting whit to do his glasses. >> because he loves the mcu. you guys look fantastic on the carpet. like that's a beautiful shot. >> thank you. >> of course, whit said, thank you. >> i meant linsey, but, yeah, you too, whit. >> don't start. don't start. >> all right. we'll check back in with you guys in a bit. let's take a look at the other big stories we're following. happening right now, we're learning more about the location where four americans were held after they were kidnapped by a mexican drug cartel. new video shows this red wooden shed where they were found including one of the deceased. the other was found nearby by mexican authorities. five alleged cartel members are charged with the kidnapping of the four americans and with the deaths of two of them. also right now, all four people on board a medical helicopter that was transporting a patient survived after the

chopper crashed onto a street near the macon county airport in north carolina on thursday. officials say the helicopter was severely damaged but never caught fire. the cause of that crash is still unclear. and how about this, not one, but two volcanoes on the same alaskan island are showing signs of unrest. the alaska volcano observatory is reporting earthquakes at both sites, which leads to concerns about possible eruptions. fortunately, though, that island is uninhabited, but what are the odds of that? we'll be watching it. we do start this half hour with a wrongfully convicted man enjoying his first taste of freedom in nearly 20 years. a judge vacated his murder conviction after a reinvestigation found it was a case of mistaken identity with prosecutors saying detectives at the time were intent on making an arrest. abc's aaron katersky has the details. aaron, this was a long time coming. >> reporter: oh, it sure is.

sheldon thomas spent 18 years in prison for a murder he did not commit, janai, all because of a mistaken photo, and this morning, he is free. prosecutors are saying they had never quite seen a case like this. sheldon thomas came to court in handcuffs. >> mr. thomas, the motion to vacation is granted. >> reporter: he left a free man linked arm in arm with his grandmother. >> congratulations. >> thank you. >> reporter: after 18 years in prison, a judge threw out his conviction and dismissed the charges. >> thank you, your honor, for allowing this to happen. i waited a long time. >> reporter: thomas was arrested for the 2004 murder of a 14-year-old in east flatbush, brooklyn, based on a photograph of a different sheldon thomas. you can see the different sheldon on the left. the sheldon who was arrested on the right. when a detective told thomas a witness had picked him from this photo spread, thomas told the detective, that isn't me. according to prosecutors the detective went ahead with the arrest anyway because he said

his gut told him he had the right person. >> this is the first time in 25 years that i've seen an erroneous photo identification used as the basis for an arrest that actually went to trial. >> reporter: thomas said police had the wrong person, but he told the judge he does not hold on to anger. >> he was wrong. i didn't deserve why i've been, and i forgive him. >> reporter: what really troubles him now is the true killer of the 14-year-old is still out there, and at this point, guys, prosecutors say the evidence is defective, so the true killer may never be known, and, by the way, eva and janai, the brooklyn district attorney's office has 50 outstanding investigations just like this one, cases it believes deserve a second look. >> unimaginable. >> 18 years behind bars for a murder you didn't commit. you can't even imagine. thank you, aaron. time now for a check of the weather and somara theodore. and it looks like it's drizzling out there where you are.

>> reporter: yeah. i'm here in tarrytown, and we're seeing the change from snow to rain. this storm system is moving out, but we're tracking more storm systems across the lower 48, and that's sounding alarms. take a look at some of these alerts. we have an avalanche warning up in idaho, believe it or not, and that could take out a small wooden framed home. so lots of treacherous conditions where we see a lot of this snowfall. now we're monitoring this storm system right now that's bringing heavy snow to parts of the dakotas, and that's going to move through the upper midwest even bringing snow into areas like chicago, and as we move forward into sunday morning, we're going to start to see that move into the ohio valley. from there, we could even see heavy rain in areas like the carolinas, some snow farther north. this is going to be impacting that monday commute on the east coast along the i-95 corridor and up into areas like pennsylvania. a lot going on from coast to coast, and we're continuing to monitor that situation out west with flooding conditions in california. that's a look at the weather across the country.

and th and that's a look at your local forecast. back to you all. >> thank you so much, somara, for braving the cold out there for us. still coming up here on "good morning america," our road to the oscars. angela bassett sits down with linsey to talk about her nomination and the message she hopes to send to fans. and the making of an oscar. a look at what goes into crafting the most prestigious award in hollywood. (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar,

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i am queen of the most powerful nation in the world, and my entire family is gone. have i not given everything? >> have i not given everything? i say that at home now. i say that at work. i mean, that was just the powerful line. >> absolutely, and welcome back to "gma." our road to the oscars as we

take a look at that scene from "black panther: wakanda forever." >> angela bassett's best supporting actress nomination is the first oscar acting nod ever for the marvel cinematic universe. i had the chance to sit down with bassett to talk about her powerful role and the message she hopes to send. she is the now two-time nominated academy award actress. ♪ oh, what's love got to do with it ♪ ♪ got to do with it ♪ ♪ what's love but a secondhand emotion ♪ >> reporter: who first made it big winning best actress in the 1993 biopic about singer tina turner's rise to stardom in "what's love got to do with it." this time, angela bassett is nominated for best supporting actress and making marvel history. >> we have the lost the protector. >> first woman, first person of color, first time a marvel actor has ever been nominated for an oscar in a comic book movie adaption. >> have i not given everything?

>> when you were doing, you know, the line, for example, you know, have i not given everything, right, did you realize the magnitude of your character, of your portrayal and how it could really land in such an impactful way? >> i felt the power even in the first reading of the script of that line of that moment. she's given her life and her energy to her country, and she's lost her family. >> reporter: bassett reprised her role as ramonda, the queen mother of wakanda. queen ramonda is stately and strong and beautiful. curious what your message would be or what you hope young black girls in particular -- >> oh, that their very essence, their very being is marvelous. it can rise as mine did. >> reporter: bassett, who played the on-screen mother to chadwick boseman in the original "black panther" movie, reflecting on his passing from colon cancer in 2020. >> and it is your time to be

king. >> curious how with chadwick's passing, and obviously you had real world grief, how you brought that then into your delivery in the movie? >> that lives within us. he made such an impact and imprint on each of us on that set, and, of course, on audiences around the world. >> how would you finish this sentence, as a woman in film, i want young girls to know -- >> that they are everything, everything wonderful. >> they are everything. they are enough. what an impactful interview with her. bassett talked about the depth of character that she tries to bring to her roles noting that even with a strong woman like ramonda, there's also some vulnerability to her and enjoyed the conversation and what she's hoping that young girls in particular will take away from her strong, yet vulnerability

that she shows on the big screen. >> and it's clear what that film and what that line meant to her. >> yes. >> so when she delivers it, it's authentic. >> it was real, and she talked about the grieving process as well with chadwick with the whole cast and crew, and i think that that came through for all of us as viewers. >> definitel all rioming up here on selfa okt what goes intohow to it, comingp. coming up. so cozy. how many rooms are in there? should we go check it out? we get to stay herel week! en yy ao... should we go check it out? i call dng the door code! we get to stay herel week! ...the host doesn't stay with you. it looks exactly like the picture. because without privacy in your vacation home... it's a full log cabin guys. ...it isn't really a vacation... we can snuggle up by the fire. ...is it? wow, oh my- [birds chirping] i never get tired of this.

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back now on "gma" th a closer look at the coveted oscars hardware that hollywood's finest will take home. closer look at the coveted oscars hardware that hollywood's finest will be taking home tomorrow night. >> yes, absolutely. those statuettes coated in 24

karat gold are crafted in a process that goes back thousands of years, and abc's phil lipof has more on how they're made. >> oh, my god. he's so heavy, and he's so cold. >> reporter: it's one of the most prestigious awards in the world, the oscar. since 1929 more than 3,000 have been doled out including historic wins like the first black actor to receive an oscar. >> the academy award for the best performance of an actress, hattie mcdaniel. >> reporter: or the first latino to win for best director. >> alfonso curon. >> reporter: and who can forget best picture "parasite." >> and the best picture goes to "parasite." >> reporter: but what goes into making the statuette? since 2016, jake joyce from uap has led a team of highly skilled craftspeople who mak these oscars for hollywood's biggest night. >> over several months our team creates roughly 60 statues for the academy.

many hours of careful labor go into the production of each statue. we started out with the original george stanley oscar, we 3d scanned that. we make a silicon rubber mold. inside that mold is where we cast wick width wax. the wax takes the exact shape of the statue. once the shell is finished, we can place it inside a kiln and melt out the wax, which is the negative image of the oscar, bronze is melted and poured into the shell. that ceramic shell is removed, and we're left with a bronze copy of the oscar. sometimes when our staff in the finishing department are polishing bronze sculptures, the bronze dust gets on your skin, and it can turn you green. >> reporter: and although they don't get to keep the oscars, jake says making them is the greatest honor. >> it feels very special to be a part of the making of these statues. we understand the importance of

ensuring these are made to perfection and on time. >> reporter: getting excited for sunday, phil lipof, abc news, new york. >> our thanks to phil for that. the art form used to create the oscars is called the lost wax process, which apparently goes back thousands of years, and i got to hold one of the statuettes yesterday. it is heavy, 8 1/2 pounds. you can, like, actually get a workout in and do some reps. >> 24 karat gold, and i also found out the value, $400. or a little bit more. priceless, of course, for the people who get to take them home. but a little fun fact. [ laughter ] >> yes, absolutely. nerd alert. >> our coverage on the red carpet live, we're still calling it that even though the carpet's champagne. our countdown to oscars 95 airs tomorrow at 1:00 p.m. the preshow

be on abc newslive throughout the day. you can turn on the tv any time. you will see the two of us on the champagne carpet. >> no sleep and no showers, guys. straight through. >> no showers? whit. >> speak for yourself. >> exactly. >> we got wipes and paper towels. >> oh, my goodness. paper towels, okay, all right. >> linsey, make sure he takes a shower. >> really. and we will be right back with our "play of the day." and we will be right back with our "play of the day." targets are on site. were you followed? no. do you have the assets? it's all here, as we discussed. (whispering) i'm in position. - should we get some lunch? sounds good. i'm famished. if you're an undercover agent, you need to be undercover. and if you want to save by bundling home and car insurance, you need geico. riley, get out of there. (whispering) in pursuit. see how much you could save by bundling with geico. okay everyone, our mission is complete balanced nutrition. together we support immune function. supply fuel for immune cells and sustain tissue health.

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call and start saving today. comcast business. powering possibilities. back now with our "play of the back now with our "play of the day" and the gender reveal that could have been a catastrophe. brittany and omar hernandez had a big party planned, but it turned out less than perfect. get where this is going? their rescue cat, mr. kitty, decided he was the star of the show photobombing the couple's video who didn't realize it until they saw the playback. mr. kitty takes center stage showing off his moves. as for the big meow-ment, take a look.

>> oh! >> you see mr. kitty eventually got scared away by the big reveal, which is for his new sister. yes, there's actually a second angle on this video, but they've decided they like this one better. >> meow-ment? >> meow-ment. [ laughter ] >> adorable. coming up on our second hour on "gma," the biggest bank collapse in 15 years, what led to the trouble for silicon valley bank and how it's shaking up the tech industry. rouble for bank and how it's shaking up the tech industry. industry. bill a better bay area moving forward finding solutions. this is abc. seven news. good morning, everybody. i'm liz kreutz. new this morning out of monterey county. evacuations are underway after the tahara river levee breached overnight national guard highway water rescue vehicles and swift water. rescue crews have been requested

by county officials. to evacuation shelters are open at the santa cruz county fairgrounds encompass church in salinas. restoration work on the levee is expected throughout the morning. also in monterey county , a scary situation as authorities rushed to pull people out of their car trapped in their car. this happened overnight near the pajaro river . where working to get more information on what exactly happened, but from the video, you can see authorities pull a child. and one adult out of the car as the water around them moves fast, scary situation. alright, lisa. good morning to you is gonna check on the forecast dry right now it is but up in sonoma county. we've had some showers, liz, just a couple of hundreds. but, you know, live doppler seven pinpointing the activity here and there is more offshore. so our forecast is for scattered showers. today mid and upper fifties. still in that very moist flow, where the moisture coming in from the west . certainly not a washout today, but we'll get into more rain tonight into the overnight hours

and into your oscar sunday so rainfall amounts ranging from a couple hundreds to two tents from the peninsula. and as you go up into the north bay can see this is where the focus will be. then it all changes late monday into tuesday as we get into another atmospheric river level one system, with thunderstorms becoming a level two systems with several more inches of rain . so we'll be watching that for you was all right, lisa. thank you. the news continues right now, with good morning america. we'll see you in a half hour. for another news update. have a great day and take a live look at tahoe.

good morning, america. it's our second hour. another atmospheric river slams california. the pummeling snow and torrential rain turning dangerous, causing roofs to collapse. this as new storms eye the east. weather alerts in effect nationwide. we're tracking it all. financial fallout. silicon valley bank shut down by regulators. the second biggest collapse sending shock waves through the tech industry and the stock market. the latest this morning. why one missouri school district went to a four-day school week. >> we were losing about almost 20% of our teaching staff every year. >> the practice becoming more and more popular nationwide. but does the big change get a passing grade?

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