DANGEROUS BASSINETS LEAD TO DEATHS, WARNINGS, AND RECALLS
Several years after a million-plus Simplicity bassinets were recalled due to the deaths of four infants thanks to faulty construction, the same products claimed the lives of two more babies--yet were still on sale at Wal-Mart stores and on the company's Web site. Joseph Enoch's exclusive investigation of the dangerous bassinets has so far led to a warning from the Consumer Product Safety Commission (CPSC) and voluntary recalls from Wal-Mart and several other big-box retailers. Simplicity has gone out of business, and SFCA, the company that bought Simplicity's assets, refuses to cooperate with the CPSC warning, claiming it is not responsible for defective products sold under the Simplicity label. DANGEROUS BASSINETS LEAD TO DEATHS, WARNINGS, AND RECALLS
This week's consumer protection news...
• CDC Gives "All Clear" On Salmonella Outbreak Origin of outbreak still unidentified.
• One Death Reported in Oklahoma E. coli Outbreak 41 others hospitalized; Restaurant at center of investigation.
• Consumers' Trust in Business Plunges New survey shows decline in respect for many industries.
• West Virginia Attorney General Hails Assertive Consumers Individuals prompt investigations, lawsuits against scammers.
• Illinois Man Convicted for Scamming Seniors Accused of taking investment money and spending it on himself.
• Indiana Sues Countrywide Financial Attorney General alleges lender misled and deceived customers.
NEW ORLEANS: THREE YEARS LATER
As Hurricane Gustav looms over the Gulf Coast, preparing to wreak havoc on the troubled region, some people are asking if it's even worth the effort to rebuild and maintain New Orleans at all. Leonard Earl Johnson, a longtime resident of the Big Easy who relocated to Lafayette after Katrina, offers a poignant and beautiful tale of his return visit, reminding us why we need to do all we can to keep the Crescent City alive. NEW ORLEANS: THREE YEARS LATER
Read more...
Speaking of Gustav, gas prices have already gone up a full penny prior to Labor Day in fear that the powerful storm will do damage to oil refineries and production facilities throughout the Gulf. Automotive maven Joe Benton has the weekly roundup of where gas is most and least expensive throughout the United States, and how Gustav may affect prices in the days to come. Read more...
Read more...
One welcome side-effect of high gas prices is a marked reduction in fatalities from traffic accidents. The University of Michigan's Transportation Research Institute says that high gas costs means fewer unnecessary trips, fewer teenage joyrides, and more conscious choices to drive safely in order to conserve fuel, leading to the largest decline in deaths from traffic accidents in 45 years. Read more...
This week's automotive news...
• Feds Step Up Rusting Hyundai Investigation Recall possible as Sonata and Santa Fe scrutinized.
• GM SUVs, Crossovers Win IIHS Safety Label Join list of 50 vehicles.
• BMW Plans Price Hike Steel prices, weak dollar cited.
• Car Insurance Can Help with Medical Bills Being underinsured can be costly.
This week's recalls...
117 BANKS ON FDIC "PROBLEM" LIST
As banks continue to fall like dominoes in the wake of the credit crisis, investor nervousness may trigger even more bank runs, leading to a vicious cycle of failure. Commercial banks and savings institutions are showing record-low earnings, so what's to stop you from hiding your money under the mattress? The FDIC has offered a list of tips designed to reassure panicked savers that their money is safe, but as the list of banks in danger keeps growing, how long will that last? 117 BANKS ON FDIC "PROBLEM" LIST
CALIFORNIA: CITIBANK STOLE $14 MILLION FROM ITS CUSTOMERS
There's another reason to consider moving your money out of the bank--they might just take it from you. California Attorney General Edmund Brown this week brokered a settlement with Citigroup over its use of a "sweeping" program that transferred money from customers' credit card accounts--usually the poor, recently bankrupt, and newly deceased--into a general-purpose fund that was used to pad the bonuses given to executives. Under the settlement, Citigroup will restore all the improperly taken funds with 10 percent interest paid. The settlement follows a separate agreement brokered by New York Attorney General Andrew Cuomo settle allegations stemming from its marketing and sales of auction rate securities. CALIFORNIA: CITIBANK STOLE $14 MILLION FROM ITS CUSTOMERS
This week's economic and financial news...
• California Legislature Passes Mortgage Reform Bill Removal of key elements weakens protection for consumers.
• States Fail to Protect Residents from Predatory Loans Efforts against abusive lending practices fall short.
• When Should You Sell Exchange Traded Funds? Even less volatile investments have a "sell by" date.
• New College Students Face Money Management Challenges Counselor urges discipline, budgeting, and using cash.
• Home Reports Offer Signs Of Hopeful Trend Slight gains in sales of homes spark optimism.
• Housing Market Still Favors Buyers Over Sellers Condo market remains glutted, while single-family homes sell faster.
• Are Your Tax Dollars Paying for Excessive CEO Salaries? Groups charge tax code loopholes subsidize corporate heads.
COMCAST TO CAP CUSTOMERS' INTERNET USAGE
Bid farewell to the days of "all you can eat" broadband--Comcast announced that beginning October 1, residential customers would have a monthly cap of 250 gigabytes (GB) placed on their usage. As ConsumerAffairs.Com has reported, Comcast has actually had these caps in place for years, but only now is officially disclosing them. The caps are considerably larger than usage caps set by competitors such as Time Warner Cable and Frontier, but foes of metered broadband plans want to see more details of the new caps before passing judgment. COMCAST TO CAP CUSTOMERS' INTERNET USAGE
More technology news...
• College Students Prefer Simple Cell Phones Practicality reigns over high tech on campuses.
• Amazon.com Tops Small-Appliance Shopping Poll Online retailer gets high marks for price and selection.
BANK OF NEW YORK DATA BREACH AFFECTS 12.5 MILLION
The Bank of New York Mellon Corp announced this week that it was tripling its estimates of customers affected by the loss of data tapes on February 27, from 4.5 million to 12.5 million. The new totals make it the largest data breach in 2008 so far reported. The breach occurred when as many as ten data storage backup tapes went missing, containing sensitive personal and financial information such as names, addresses, and Social Security numbers. Although the bank has promised fraud protection to all affected customers, the governor of Connecticut is considering legal action against the bank. BANK OF NEW YORK DATA BREACH AFFECTS 12.5 MILLION
More identity theft news...
• New Identity Theft Scam Targets State Debit Card Users Texas Attorney General warns against giving out information.
• Data Breaches Exceed 2007 Record Higher numbers include breaches reported by Attorneys General.
Read more...
It all adds up--high fuel costs and new charges from everything to meals to pillows led to overall increases in airfare in the second quarter of 2008. American Express Business Travel reported that the average one-way airfare paid was $260, up $24 from the same period last year. Compared to the first quarter of 2008, the fare was up $27, an increase of 12 percent, and a seven-year high in the average airfare paid by business travelers. Read more...
WHAT DOES IT MEAN TO "FIX" HEALTH CARE?
Both Presidential candidates have promised they'll fix America's broken health care system, and both Democrat Barack Obama and Republican John McCain have introduced plans to do so. But the two candidates' plans are very different, and in the view of political scientist Jonathan Oberlander, neither plan really addresses the primary issue of costs. Mark Huffman takes a look at the Presidential health care agenda, and whether the cures may be worse than the disease. WHAT DOES IT MEAN TO "FIX" HEALTH CARE?
Read more...
In response to a petition filed by the Center for Science in the Public Interest (CSPI), the Food & Drug Administration (FDA) requested public input on the need to reduce salt levels in food--and the response was overwhelmingly in favor. State and local health officials urged the FDA to act quickly to revoke sodium's status as "generally recognized as safe," noting how high-salt diets contribute to high blood pressure, heart attacks, and strokes. Much like trans fats, many states aren't waiting for the Feds to act, and are moving ahead with their own plans to regulate sodium usage in meal consumption. Read more...
This week's health news...
• California Tobacco Control Program Saved Billions in Medical Costs Program prevented 3.6 billion packs of cigarettes from being smoked.
• U.S. Reports Most Measles Cases Since 1996 Fewer vaccinations may be leading to greater infection risk.
• Adverse Life Events Linked To Breast Cancer Psychological outlook can impact potential risk.
• Small Snack Packages can Lead to Overeating Larger snack bags trigger guilt and second thoughts.
