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Consumer News & Alerts   |   February 8, 2010
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By James R. Hood
ConsumerAffairs.Com

THINK BIG WHEN SEEKING SAVINGS
We've all read the endless advice from the supposed experts telling us to save big bucks by pinching pennies. But Good Morning America consumer reporter Elisabeth Leamy says it just ain't so. Want to save big bucks? The way to do it is to save big on big expenses. Leamy's written a how-to book that she says could save you up to $1,176,916 -- and that's without giving up your morning latte or turning to cold showers. “Why give up life’s little pleasures and conveniences,” Leamy asks, “when you can save much more money by attacking a few BIG, boring expenses instead?” A few examples

• Go 'Basic' When Buying Major Appliances One good way to start on Elisabeth Leamy's program is to think twice when buying your next appliance. Do you really need that gigantic Sub-Zero meat locker or could you easily make do with something that costs barely a quarter as much while doing basically the same thing?

• Bang for the Buck: Consumer Reports Rates TVs We hear from lots of consumers who spend big bucks on big-screen TVs that fizzle out after a year or two. Consumer Reports has some advice for TV buyers on what to splurge on and what to skip.

• Getting Your Taxes Done for Less Avoid RALs, since they aren't much faster than e-filing.

• Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo: ProPublica Of course, saving money on your mortage isn't always easy -- especially if you're trying to modify it in midstream. It's even harder when the bank doesn't play along, as ProPublica reports.

THE JOHN EDWARDIZATION OF TOYOTA
It takes decades to build what used to be called a reputation, but it takes only days to destroy one, as toppled giant Toyota is learning. After a few decades of being lionized as the global leader in safety and quality, Toyota suddenly finds itself under attack from nearly every side, as consumers' complaints about unintended acceleration, braking problems and other deficiencies finally start being heard. Among the latest developments:

• Toyota Hammered With Lawsuits Over Safety Problems Company faces 30 class actions, 10 individual actions.

• Feds Investigate Toyota Prius Brakes Focus shifts to electrical systems. Although the feds' Prius probe involves only 2010 models, we're already hearing from consumers who say their earlier models are similar cursed. Examples.

• Consumer Reports to Toyota Owners: Remove Unsafe Floor Mats Attention is shifting from the floor mats that can cause unintended acceleration in some Toyotas but Consumer Reports magazine warns that the problem should not be ignored -- and advises consumers to take the floor mats out of affected models until a permanent solution is found.

• Big 3 Offer Discounts After Toyota Recall Smelling blood in the water, Detroit is offering incentives to Toyota owners who are suddenly afraid to drive their cars.

• Ford Addresses Brake Problem in Fusions Toyota is not alone. Ford reports problems with the braking system in its Fusion hybrid. It says a glitch in the car's software is to blame.

CHEMNUTRA OWNERS IN THE DOGHOUSE
A federal judge has sentenced two Nevada business owners to three years probation for distributing a melamine-tainted ingredient that triggered a massive pet food recall in 2007 and caused the deaths and illnesses of thousands of dog and cats nationwide. The sentencing ends a long legal case that centered on the involvement of Chemnutra with importing and distributing the melamine-tainted wheat gluten used in the recalled pet food. But, as Lisa Wade McCormick reports, many pet owners aren't satisfied with the verdict. Read more

• Disability Advocates 'Shocked' at Their Levels of Toxic Chemical Exposure Pets aren't the only living creatures endangered by toxic ingredients. A new study examines possible links between disability and toxicity.

• Toy Importer to Pay Penalty for Violating Lead Paint Ban CPSC levies $200,000 fine for settlement.

• Feds Seize Rodent-Infested Food at Wisconsin Warehouse Food products intended for both human and animal consumption.

• Missouri Company Recalls 14,000 Pounds of Beef Due to E.Coli Products distributed to Chicago area.

• Kellogg's Nutri-Grain Statements Misleading, Suit Says Accuses cereal company of glossing over dangers of trans fat.

WHAT'S AHEAD FOR THE HOUSING MARKET?
If you've put all your eggs into one great big mini-mansion, you may not want to read this. Economists say it's starting to look like the housing market, if and when it recovers, will be focused on smaller, more energy-efficient homes. Several factors are responsible. Besides a wheezing economy and rising energy costs, the huge baby-boom generation is steadily aging its way out of the housing market, meaning that there may well be more supply than demand for quite some time to come. Read more

• Pending Home Sales Rise in December Report suggests slight improvement in housing market.

GAS PRICES, CONFIDENCE SINK
It cost us $53 to fill up our Mini Cooper in Los Angeles the other day, but ace reporter Mark Huffman assures us that the average -- emphasis on average -- price of gas in California is falling below $3 a gallon, and currently hovers around $2.66 nationwide. The reason? Global commodity traders are starting to feel queasy about the nascent economic recovery. Also helping to hold down prices is weak demand in the U.S. American motorists are simply not buying as much gas as they used to. More efficient cars? Maybe. But with an unemployment rate of 10%, many of us simply have nowhere to go each morning. Read more

• Listening to Your Car Consumer Reports deciphers the whines, creaks and squeals.

SCAMS & OUTRAGES

• FTC Issues 'Bamboo' Ad Warning Retailers, including Wal-Mart, Target, and Kmart, get agency letters.

• Neiman Marcus Settles 'Phony Faux Fur' Suit Humane Society said retailer failed to label real fur on coats.

• Eli Lily Pays Mississippi $18.5 Million to Settle Zyprexa Claim Money arrives at critical time, state says.

• FTC Wants to Outlaw Advance-Fee Foreclosure Rescue Several states already have such bans in place.

• Ohio Sues California Foreclosure Rescue Operations for Conning Consumers Attorney General's lawsuit targets Orange County law firm, disbarred attorney.

• New York Files Fraud Charges Against Bank of America Former CEO, CFO also face charges in connection with Merrill Lynch merger.

• Fifth Third Bank Sued Over Overdraft Fees Suit seeks class action status and millions in restitution.

• New Lottery Scam Claims to Be From Better Business Bureau BBB offers tips on how the beat the cheaters.

• Church Groups Indicted in Delaware Mortgage Rescue Scheme Largest foreclosure rescue scam in state history, attorney general says.

HYPERLINKED DEPRESSION?
When some of us were kids, our parents thought that watching too much television was bad for us, as no doubt it was. When some of our parents were kids, their parents thought that playing too much hopscotch was bad for their knees, as no doubt it was. How is this all related? Well, for one thing, experts are now telling us that too much Internet use is bad for us and may make us depressed, as no doubt it does. It might be bad for our knees too. It turns out that knee replacement often doesn't turn out well and sometimes even results in weight gain. Why? Well, maybe because instead of returning to jogging, tennis and biking, we remain placidly seated in front of the monitor.

So, have as good as week as the weather, the economy and the Who 'Dat football gods permit. Don't forget to get up and move around once in a while.

RECALLS...

New Rogues...

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