Current Events in May 2013

The Consumer Financial Protection Bureau (CFPB) has tweaked the Ability-to-Repay rule to make extending and getting credit less of a hassle by creating specific exemptions and modifications.

The revised rule, which governs small creditors, community development lenders and housing stabilization programs, contains specifics on how to calculate loan origination compensation for certain purposes. The CFPB’s Ability-to-Repay rule was finalized in January of this year.

“Our Ability-to-Repay rule was crafted to promote responsible lending practices,” said CFPB Director Richard Cordray. “Today’s amendments embody our efforts to make reasonable changes to the rule in order to foster access to responsible credit for consumers.”

Consumer protections

The Ability-to-Repay rule established that most new mortgages must comply with basic requirements that protect consumers from taking on loans they do not have the financial means to pay back. Lenders are presumed to have complied with the Ability-to-Repay rule if they issue “Qualified Mortgages” (QMs).

These loans must meet certain requirements including prohibitions or limitations on the risky features that harmed consumers in the recent mortgage crisis. If a lender makes a Qualified Mortgage, consumers have greater assurance that they can pay back the loan.

What they do

The newly-approved amendments:

• Exempt certain nonprofit creditors: The final rule exempts some  nonprofit and community-based lenders that work to help low- and moderate-income consumers obtain affordable housing. 
• Facilitate lending by certain small creditors: This amendment makes several adjustments to the Ability-to-Repay rule in order to facilitate lending by small creditors, including community banks and credit unions that have less than $2 billion in assets and each year make 500 or fewer first-lien mortgages.
• Establish how to calculate loan origination compensation: The Dodd-Frank Act mandates that Qualified Mortgages have limited points and fees, and that compensation paid to loan originators, such as loan officers and brokers, is included in points and fees. This cap ensures that lenders offering Qualified Mortgages do not charge excessive points and fees. Today’s amendment provides certain exceptions to this Dodd-Frank requirement that loan originator compensation be included in the total permissible points and fees for both Qualified Mortgages and high-cost loans.

Consumer kudos

The final rules "strike the right balance," according to a leading consumer group. "They safeguard consumers from abusive practices while helping lenders comply with new mortgage lending standards," said Kathleen Day of the Center for Responsible Lending  .

"The rules address two key issues related to the Dodd-Frank Act’s mandate that lenders assess a borrower’s ability to repay, particularly the standards a loan must meet to qualify as a 'Qualified Mortgage (QM).' First, they properly prohibit mortgages with higher fees from gaining Qualified Mortgage (QM) status. Second, they tailor the QM standards for small lenders who hold mortgages in portfolio and for other community-based lenders.

The amendments will take effect with the Ability-to-Repay rule next January.

The semester is over and it's summer time. How do you spend it? Lounge on the beach maybe. Bum around Europe?

Smart students will opt for an internship and, according to John A. Challenger, chief executive officer of global outplacement and business coaching consultancy Challenger, Gray & Christmas, how you handle it could have a big impact on your future.

Not just an option

Employers are becoming more selective in recruiting and now demand that even entry-level candidates have on-the-job experience. That means, says Challenger, that the once optional summer internship has become a requisite component of any young person’s resume.

“Internships are more important than ever, but not all internship programs are created equal,” Challenger explains. “Many employers do not have any type of strategy when it comes to utilizing and educating their interns. In these situations both the employer and the intern lose. It is critical that young people entering an internship program take a proactive approach to managing and maximizing their experience.”

Stronger job market

A recent outlook by Challenger, Gray & Christmas projects a stronger entry-level job market this year. However, the competition for these positions remains fierce and having internship experience can greatly increase the odds of post-graduation job-search success.

A survey of 2012 graduates conducted last August by the National Association of Colleges and Employers found that 60 percent of those who participated in paid internships received at least one job offer. In contrast, only 36 percent of graduates with no internship experience on their resume had received job offers.

“The classroom is great for developing critical thinking skills, writing and presentation skills, and general knowledge that provide the fundamental building blocks of any viable job candidate,” said Challenger. “However, nothing beats the hands-on practical experience that internships provide. For those who have already graduated, internships are often the stepping stone to a full-time position.”

What to do

Challenger provides the following advice for this year’s crop of summer interns:

Treat your internship as a real job

The best way to prove you are qualified for a permanent position is through action. Think of your internship as a trial period or extended interview for obtaining the position you desire. Always be on time and meet deadlines. Maintain a positive attitude and show that you are eager to learn and succeed by seeking out feedback to improve your performance and develop new skills.

Take initiative and exceed expectations

By taking initiative you can show management what you are capable of. Do not be afraid to voice your own ideas, offer solutions, and ask questions. Show interest in attending meetings and seek out extra work and new projects.

Dress according to company dress codes

While you want to stand out from the pack, you don’t want to draw attention to yourself for the wrong reasons. By dressing professionally you reinforce the impression that you can adapt to and fit in with the company’s culture.

Keep track of your contributions and accomplishments

Keep track of the projects you worked on, your individual contributions, and the results achieved. Having a tangible record of your achievements with the company is a helpful tool in convincing a manager why you should be hired full time.

Network, network, network

Developing contacts inside and outside of your department is extremely important. Schedule lunches or meetings with company managers and executives to give them a better understanding of what you’re about and what you plan on accomplishing. Find a mentor to teach you the ropes of the organization and offer advice on company politics.

Ask about available entry-level positions

Let your employer know that you would like a job with that particular organization. Ask about what positions are available and express your interest in them.

Maintain contact

If you don’t get hired for a position immediately after your internship ends, stay in touch. Check-in with your contacts and provide updates on your progress. This will help to keep you in the forefront for the employer’s mind when a position opens.  

The housing market continues to be the economy's bright spot.

The National Association of Realtors (NAR) reports pending home sales, a forward-looking indicator based on contract signings, were up 0.3% in April to 106.0 in April and well above the year-ago level.

The uptick put the Pending Home Sales Index (PHSI) at the highest level since it hit 110.9 in April 2010, immediately before the deadline for the home buyer tax credit. Pending sales, which reflect contracts but not closing, have been above year-ago levels for the past 24 months.

NAR Chief Economist Lawrence Yun says a familiar pattern has developed. “The housing market continues to squeak out gains from already very positive conditions,” he said. “Pending contracts so far this year easily correspond to higher closed home sales in 2013.” Total existing-home sales are expected to rise just over 7% to about 5 million this year. They were up 0.6% last month.

“Because of inventory shortages, higher home sales will push up home values to the highest level in five years,” Yun said. The national median existing-home price should increase close to 8% and exceed $190,000 in 2013.

Uneven regionally

• Gains in the Northeast and Midwest were offset largely by declines in the West and South.
• The PHSI in the Northeast jumped 11.5% to 92.3 in April and is 17.7% above a year ago.
• In the Midwest the index rose 3.2% to 107.1 in April and is 15.1% above the April 2012 level.
• Pending home sales in the South slipped 1.1% to an index of 119.2 in April, but are 12.3% above a year ago.
• Because of inventory constraints, the index in the West fell 7.6% in April to 94.6 and is 2.6% below April 2012.

With a little less than a month until summer, many people are making plans to go to concerts, festivals and local outside events. But with so many activities going on all at once, what's the best way to find out what to do?

Today there are a bunch of apps and websites that let you know what's going on in your area, so we decided to pick out some of the best ones, like Zvents for example.

The company began in 2004 and since then Zvents has been a pretty popular site that tells you what's going on both in and out of your area. It allows you to purchase tickets to events too.

The creators of the site say 10 million people use it each month and 15,000 advertisers promote all kinds of events every month as well.

Whether you're looking to attend a ballgame in your area, some sort of community event or a local play, all you have to do is go to the events page of the site and you'll see a list of things that are up and coming. You can search for events by event type, city or by date.

The site allows you to click on different holidays throughout the year too, just to see what events are taking place on that day. And if you have an event of your own, you can put it on the site and get the word out to millions of users.

And besides clicking on the events tab, you can click on movies, venues, performers and restaurants too. 

In the restaurant section, you can make your selection by cuisine, price, city or user rating and the restaurant page automatically brings up places to eat in your area--without you having to do a search. And by clicking on a particular event, you can buy tickets on the site, but you can't purchase them on the mobile app.

A couple of years back Zvents was purchased by Stubhub, which is a part of eBay.

WikiDo

WikiDo is another good site to search for events and extremely easy to use.

All you have to do is enter your town into the search field, type in what you want to do and when you want to do it and the site gives you a list of things to do under a variety of categories.

For example, when I researched the events that were in my town, the site quickly gave me 82 different things to do today, so it really gives you a lot.

Wikido's categories cover many activities, as you can look for social events, religious events, something in the arts, sports, restaurants, fitness activities, you name it.

In addition, the creators of the site encourage users to provide feedback for the events they attend, so other people can know how good a venue, restaurant or sporting event was.

And just like on Zvents, you can add and promote activities of your own.  In fact, all of these sites allow you to add an event if you want to.

CultureMob

The site CultureMob works a bit differently, at least during the sign-up process. When registering for the site, users put checks next to their categories of choice, whether it's books, film, music, theater or food. 

CultureMob definitely caters to those who are interested in arts and entertainment more than anything else. In addition, the site gathers information about your Netflix and iTunes choices so it can recommend things for you to watch and listen to.

CultureMob uses a bunch of local writers too, who specialize in each category, so you can get first-hand opinions and reviews about the events in your area.

So between finding an array of things for you to do, giving you direct on-the-scene-reviews and having an interactive component, CultureMob is a very cool site to check out if you haven't done so already.

Eventful

Arguably the most popular of the event sites is Eventful.com

The creators of the site say it gives users millions of local events to choose from and it has the most comprehensive selection of things to do than any other event site. 

In addition, Eventful tells you about local events on its mobile app. And it can email you the activities too, so you can be alerted through a number of ways.

The site has a "Demand it" feature as well, that lets users choose where they want events to take place. 

So if a certain community wants the Dave Matthews Band to come to their town for example, they could demand it on the site. The creators of Eventful say musicians, comedians and entertainers go to the site to see where people want them to come.

Look, summer time offers a lot of things to do, and sometimes it can be a challenge to figure out where to start looking. 

Sure you can go to one site for movies, another site for restaurants and so on, but you may find it easier to go to a single website, so you can learn about all of the best activities in one shot.

Additionally, these sites and a few others like it are good for those who move to a new town, as they can help you find out what's going on, so you're not just wandering around town aimlessly.

Having cancer is stressful enough but add in stress from family, work and other venues and it can be a problem. In a study conducted by Wake Forest Baptist Medical Center, researchers looked into the possible effects of a patient's stress level on the effectiveness of the drugs that a patient is taking. 

They used mice to determine how big a role stress played in the effectiveness of drugs for prostate cancer. The researchers noticed when mice were kept away from stressful surroundings they responded better to  medication.

When the mice were stressed, their cancer cells remained and their tumors were the same size. In seperate findings, tumors got bigger in the mice that faced continuous stress.

At the conclusion of the study, researchers said a person's body produces a chemical response when he or she becomes stressed or has anxiety. And that chemical response affects how much their cancer cells grow. 

Researchers at the Rutgers School of Environmental and Biological Sciences said the same thing.

Endorphins' effect

In a separate study, researchers said having increased levels of beta-endorphin peptide (BEP) -- the hormone that's associated with pleasure -- can slow the growth of tumors. 

"Our findings show promise for future therapeutic treatments for bolstering the immune function," said Dr. Dipak K. Sarkar, who worked on the study. "We are optimistic that this research can be applied to human medicine. Instead of transplanting cells, we will investigate whether we can increase BEP using a chemical approach."

Niki Barr, Ph.D., author of "Emotional Wellness: The Other Half of Treating Cancer," says if a cancer patient can learn to be emotionally healthy, it's great for that patient. "More than 1.6 million Americans are expected to be diagnosed with cancer this year and how they deal with it can have a dramatic effect on their physical and emotional health." 

"So finding ways to ease the stress associated with cancer is vital. And part of what causes that anxiety is the feeling that you've lost all control of your life," said Barr, a psychotherapist who works with cancer patients and their families.

So how do cancer patients get some of that control back?

Emotional wellness

Barr created what she calls the "emotional wellness toolbox," which is something tangible a patient can do to stay positive during cancer treatment.

She believes cancer patients should be proactive in their efforts to be emotionally healthy and should start taking those proactive steps as soon as they receive their diagnosis.

Barr says gathering these items will help you relax and deal with stress a little bit better: writing materials, a device to play your favorite music, meditation CDs, and a box to keep all of these items in.

Patients and their loved ones should use this box of items as a psychological boost when they need it and continue to use it throughout their treatment.

Barr says that people should use a breathing exercise too.

"A simple technique for immediate relief from anxiety is triangle breathing," she explains. "Breathe in, breath out, then pause, during which you say a word such as 'calm', 'peace', 'confident.' it's remarkably effective."

In addition, cancer patients can do certain things to battle feelings of depression, like doing their research and having a firm understanding of what their treatment will be. Maintaining a positive and healthy routine is key too.

What patients talk about affects how they feel, says Barr, so it's important for them to create positive affirmations and create moments when they're not talking about cancer at all. Keeping a journal is another way of battling depression.

And getting back to some form of normalcy is important as well.

Barr says the first thing cancer patients should do after receiving a diagnosis is gather all of their treatment records and gather information about future treatments.

Doing this can allow patients to put their entire experience into better perspective. 

Be decisive

The next thing to do is make a decision. Patients should determine what kind of life they want to live during their experience, whether it's a change in their diet or overall lifestyle.

These are just some of the things cancer patients can do to help them deal with their illness, says Barr, as maintaining a positive outlook is crucial.

"These tips are gathered from working with cancer patients and their families, taking what is most effective to share with other cancer patients and their families," said Barr. "Sometimes cancer returns and, sadly, some do not survive cancer."

"Regardless of the severity of a diagnosis, however, there are good and bad ways to navigate this disease -- that should be the primary concern, along with treatment, when you or a loved one are diagnosed."

Perhaps feeling pressure from startups like Mailbox, Google is launching a redesigned Gmail today, trying once again to relieve inbox clutter and, perhaps, to promote Google+, something it now does incessantly.

Three years ago, Google added the Priority Inbox feature, which tried to bring some order to cluttered inboxes by sorting messages based on their perceived importance. How successful that was varies widely from one user to the next, we suspect.

But this time, Google says it has it right.

"We get a lot of different types of email: messages from friends, social notifications, deals and offers, confirmations and receipts, and more," said Itamar Gilad, a Google product manager writing on the company's official blog. "All of these emails can compete for our attention and make it harder to focus on the things we need to get done. Sometimes it feels like our inboxes are controlling us, rather than the other way around."

"Today, Gmail is getting a brand new inbox on desktop and mobile that puts you back in control using simple, easy organization," Gilad said, explaining that the new interface groups emails into categories that appear as different tabs -- Primary, Social, Promotions and Updates, among others.

On Android phones and on Gmail for iPhone and iPad, the Primary tab will appear as the default.

If you don't like the new options, you can switch back to basic view, or make adjustments when the Configure Inbox option appears in your Settings tab, Gilad said. 

The changes are being rolled out gradually, so it may be a few weeks before all users see the new format. 

If you use an aerosol inhaler to treat your asthma or chronic obstructive pulmonary disease (COPD) you're going to have to get a new one.

The last two inhalers used in the United States containing ozone-damaging chloroflurocarbons (CFCs) and are being pulled from the market by the end of this year.

If you use one of them, you'll have to talk with your doctor about a prescription for an alternative.

Most people who use inhalers have already made the switch to those that are CFC-free and the U.S Food and Drug Administration (FDA) says that -- in general -- the transition has gone smoothly. 

Inhaler problems

The transition may have gone smoothly for the FDA but it hasn't been trouble free for patients.

An asthma patient in Virginia voiced harsh concerns about the FDA's comments that patients remember to breathe deep with the new inhalers. The new, non-flurocarbon rescue inhalers require the patient to take a deep breath, whereas the older inhalers aggressively shot the medication into the airways. 

"This is absolutely total ignorance," says Roger M. of Glen Allen, Virginia, in a ConsumerAffairs post. "People having an asthma attack and in a panic state cannot breathe in deeply. People with COPD and limited lung function -- when in need of medication -- cannot breathe in deeply. Recent times have shown the (incompetence-plagued) FDA's inability to properly understand and evaluate these life altering decisions."

"I may die if I cannot have my CFC inhaler," says Paulette B. of Sacramento, California. "I cannot use hydrofluoroalkanes (HFA) albuterol inhalers as I am allergic to the propellants in all of them. I tried two different ones and they made me cough really badly, and my lungs burned awfully. They gave me an awful headache and caused nausea, too." 

The phase-out

But be that as it may, the final two inhalers on the market are going away. 

Combivent Inhalation Aerosol will no longer be available after July 2013. It contains two medicines -- ipratropium bromide and albuterol sulfate. A bronchodialator intended to open airways, it is approved for patients with COPD. An alternative inhaler -- Combivent Respimat -- contains the same two medicines but does not contain CFCs. It was approved by the FDA in 2011.

Maxair Autohaler will not be available after Dec. 31, 2013. This inhaler contains pirbuterol, which is also a bronchodilator and is used for the treatment of bronchial spasms in patients with asthma or COPD. Alternative inhalers are available that contain other bronchodilator medicines, such as albuterol or levalbuterol, but do not use CFCs as a propellant to move the medicine from the inhaler.

CFCs a problem

CFCs damage the ozone, a thin, outer layer in the stratosphere that acts as Earth's shield against the sun's radiation. The U.S. and most other countries signed the Montreal Protocol in the 1980s to phase out the worldwide production and use of CFCs. In this country, CFCs have been removed from such products as hairsprays, deodorants and air conditioning.

CFCs have also been used in medical devices, including as propellants to move medicine out of inhalers so that patients can breathe in the medicine. For more than two decades, FDA has coordinated the phase-out of CFCs in inhalers.

Most inhalers using CFCs have already been phased out. The most widely used -- albuterol CFC inhalers -- were phased out in 2008 and replaced with alternatives that use HFAs. The most recent phase-out was of over-the-counter epinephrine inhalers sold under the brand name Primatene Mist, which were phased out at the end of 2011.

FDA maintains a list of inhalers for asthma and COPD that do not use CFCs, and adds the names of new non-CFC inhalers as they become available.

Used by millions

Millions of people who suffer from asthma, allergies and COPD use inhalers. In the U.S., more than 25 million people suffer from asthma, a disease that affects the airways in the lungs and can cause coughing, trouble breathing, wheezing and tightness or pain in the chest. Attacks can be mild, moderate, severe and even life-threatening.

Another 15 million U.S residents have been diagnosed with COPD, a serious lung disease that usually causes breathing to get worse over time. It can limit airflow, and may include chronic bronchitis, emphysema or both.

While all FDA-approved inhalers currently on the market have been shown to be effective, there are some differences between the products. For example, products propelled by HFA may taste and feel different than the spray from CFC-propelled inhalers.

Although some consumers note that the spray from an HFA inhaler feels less forceful, this does not mean that the medicine is not working. Other alternative medications may use no propellant at all. Your doctor may be able to find the product right for you.

The Chevy Volt runs on battery power but costs around $40,000. The Tesla, which has dazzled the automotive world lately, is even more expensive. The car, combining style, engineering and energy efficiency, can cost around $90,000.

Isn't there an electric car for the consumer who can only afford a Camry? Well, yes there is.

Chevrolet is set to introduce the Chevy Spark EV, a subcompact that runs on a plug-in battery. It goes on sale next month in Oregon and California for around $27,000 – but the price drops to $19,995 after a federal tax credit of $7,500.

Efficient and affordable

"The Chevrolet Spark EV is the most efficient - and now one of the most affordable - EVs you can buy," said Chris Perry, GM's vice president of Chevrolet marketing.

But the Spark EV isn't the first electric vehicle with a more affordable price tag. The NissanLeaf, introduced in 2011, is also a small, all-electric vehicle. Nissan advertises the Leaf for as low as $21,300 after the tax credit.

The Leaf's mileage is also impressive – 129 city, 109 highway. In early models, however, its range was called into question by at least one formerly enthusiastic owner. 

More recent Leaf owners deliver a mixed verdict. Gerry, of San Marino, Calif., reports leasing a Leaf in 2012.

“Very happy with the car,” he wrote in a ConsumerAffairs post.

Patrick, of Santa Barbara, Calif., isn't as fortunate. He's having computer problems with his Leaf.

“About 12 days ago the car would not start and the computer told me that my foot was not on the brake, but it was,” he writes. “The computer could not sense that my foot was trying to press the brake (remember that the brakes are computer assisted). I took the car into the dealership, and they have had it for 12 days and still they, and Nissan USA have no idea what the problem is.”

By waiting two years before delivering an all-electric subcompact, GM may hope to avoid some of these glitches. They're starting with a chassis that's been around for a while.

Gas-powered version

GM has produced the Spark in Korea and sold it internationally since 1998. It's the first time the carmaker is equipping it with battery power. The gasoline-powered version of the Spark has a 1.2 liter four-cylinder engine and starts at under $13,000.

GM says the Spark EV delivers 400 foot-pounds of torque, powered by a lithium-ion battery. It utilizes some of the same electric power technology used in the Chevy Volt, which GM introduced in 2010. Though sales of the Volt have lagged projections, we heard from at least one consumer who loves it.

“I purchased a 2013 Chevy Volt in September,” Thomas, of Sunrise, Fla., wrote in a ConsumerAffairs post. “Since having this car I am amazed at its efficiency. I plug it in and get 47-49 miles on a charge. It is a very quiet car. I drove from Fort Lauderdale to Naples, Florida on hold which means I was on gas. I used the electric charge running around Naples. My return trip showed only one mile left on the electric before it switched automatically to gas. I put the car in mountain mode and was amazed that this car charged itself. I have only used a tank of gas in seven months.”

Longer payback

But the Volt's price tag means it will take quite a few miles before the gas savings pay for themselves, perhaps one reason the motoring public has been slow to embrace the car. With their less expensive all-electric vehicles, Nissan and GM are betting that more drivers will be willing to give an electric vehicle a shot, especially since the net cost is less than many gasoline-powered vehicles.

Though costing about $10,000 more than the Leaf and Spark, the Fiat 500e also competes for the green consumer on a budget. All three electrics are offering very attractive lease terms – $199 a month with $999 due at signing.

Every day, more members of the baby boom generation retire. Only they're doing it a lot differently than their parents' generation.

They tend to be more affluent, healthier and still seeking life's spark. Sandra Block, an editor at Kiplinger, talked to a lot of recent retirees, seeking insight into how the latest gray-haired generation is changing the concept of retirement.

"When I talk to people and they say they want to retire, what they really mean is they want to quit the job they have right now,” Block said. “But they don't envision themselves never working again."

Far from it. They feel they have a lot of life left and they want to try something new. Sure, the income from employment is nice but this generation has always been all about the experience.

Unfortunately, people over 60 often find it's hard to get a job. A recent survey by AARP concluded that age discrimination remains a fact of life.

“Just because you want to work doesn't mean you'll get the chance,” Block said. One way baby boomers are getting around this is starting their own businesses.

Franchises

Boomers are among the largest group investing in franchises. A franchise often gives a new business owner a better chance at success because of business planning and marketing support. But some simply start a business from scratch, pursuing a venture that reflects their passion.

Another big difference between boomers and past retirees is purely social. In previous generations couples retired together. It's a lot less common now.

"Divorce is much more accepted now,” Block said. “Sometimes people retire and start spending a lot more time together and realize they aren't that crazy about each other. About a third of adults age 50 to 64 are single. Divorce rates for couples over 50 have doubled over the last 20 years."

As a result, boomers are likely to be into the dating scene, an idea that their children may find creepy. They are increasingly using social media and dating sites to look for romance. And because they're dating, boomers want to look good and be healthy.

Staying fit

"There's a tremendous financial incentive to remain fit because health care costs are going to be such a huge part of their retirement spending," Block said. “If they can work out, walk and get regular exercise they can make a significant dent in the cost of health care, even with Medicare."

Fidelity estimates the average couple spends more than $220,000 on medical expenses in retirement, mostly for chronic illnesses.

While some boomers are struggling to make ends meet in retirement, others have done quite well – but find some of their wealth must be spread around in the family.

"They're helping family members on both sides of their generation, their parents and their children,” Block said.

In many cases a boomer helps an aging parent with medical expenses. Children struggling with underemployment and student loans look to Mom and Dad for a helping hand.

Multi-generational households

"Their has been a huge jump in multi-generational households where several generations are living in one house,” Block said. “At the same time, more than half of people over 55 with children are providing them with financial support."

Retiring boomers are changing the housing industry. Builders are providing more homes with “in-law suites” and single level houses  better suited to aging residents.

The boomers were the generation that wanted to change the world, and while they are a little more realistic about that goal now, they haven't abandoned it completely. As a result, many volunteer their time and skills. The percentage of Peace Corps volunteers over 50 is at an all-time high.

They're even going back to school in increasing numbers. Colleges have increased the number and variety of programs that don't necessarily lead to a degree.

An estimated 8,000 boomers turn 65 every day, swelling the ranks of the retired, or soon to be retired. They aren't looking for a rocking chair or spending all their time on the golf course. They generation that exerted influence on culture, finance and the workplace for the last 50 years has no plans to stop.

People have been wearing wristwatches since, well, forever and we've been strapping on various types of music players ever since the Sony Walkman debuted in 1979.  And, of course, some folks wear guns, so really, there's nothing new about "wearable devices," even though the term has only lately come into vogue thanks to Google Glass.

But Apple CEO Tim Cook says it's "tough to see" how Google Glass will gain wide acceptance, given objections about privacy and the risk that wearers will make themselves targets for muggers.

Instead, Cook hinted at the D: All Things Digital Conference yesterday that Apple's still-unannounced wearable devices will get a better reception, the Wall Street Journal reported.

It's been rumored that Apple is developing a wristwatch-like device that functions like a smartphone, sort of a latter-day Dick Tracy gizmo.  Cook wasn't revealing details but said that Apple has "several more game-changers" in development.

Cook also announced that Apple has hired former Environmental Protection Agency head Lisa Jackson to oversee the company's environmental activities. 

Perhaps sounding somewhat defensive, Cook turned aside complaints that Android devices have overtaken Apple in the smartphone and tablet market. He said Apple is more concerned with having happy customers than with having the most customers.

"News Corp poised to challenge LinkedIn," reads the headline in The Times of London. News Corp owns the Times as well as the Wall Street Journal, which would reportedly be the brand slapped onto the social network.

It may be a little late to be starting a social network, although perhaps it's still early in newspaper years. Things move slowly over there, you know.

It's one of a number of initiatives being dreamed up as Rupert Murdoch's new News Corp. splits off its marginally profitable newspapers from its highly profitable entertainment, television, cable and and satellite business.

Besides the social network, word is the Journal is setting up an instant messaging service for its readers. The world already has a few of those too, of course, but the thinking apparently is that the Journal's imprimatur is such that no respectable hedge fund manager would think of using Google Chat if he could use RupertSpeak, or whatever it will be called.

Meanwhile, in other News Corp news ...

• Robert Thomson, News Corp CEO, said there will be "relentless" cost cuts in store for the newspaper business as it prepares to separate from  Murdoch's entertainment empire (maybe News Corp should open a resume-writing business for its employees);
• The company is getting a new logo (see above). In a 643-word memo, eager employees were told the logo is “based on the writing of Rupert and his father.”
• No grass will grow under the new News Corp's feet, employees were assured. "We will boldly try new businesses and models, unafraid to learn, confident of overall success together," CEO Thompson said in his memo, which appeared to have been cribbed from a graduation speech.

You ever feel like you were just flying down the road? That might be understandable had you filled up at at six New Jersey gas stations.

State Attorney General Jeffrey S. Chiesa and the Division of Consumer Affairs have filed suit against six gas stations, their parent company, and two fuel distribution firms, after the stations allegedly sold aviation fuel during a three-day period in December to consumers who thought they were filling their cars with ordinary, unleaded motor fuel.

“We allege that these gas stations clearly knew, or should have known, they were selling aviation fuel that contains toxic lead, while advertising it as unleaded gasoline for motorists,” Chiesa said. “We will pursue restitution for any consumer, if it is demonstrated that this aviation fuel damaged their vehicles. Just as importantly, we are holding these gas stations and the distributors responsible for their alleged, unlawful deception and potential harm to the public.”

Damage to cars possible

The gas stations -- in Mercer, Monmouth, Somerset and Union counties -- allegedly received a total of nearly 65,000 gallons of 100 octane aviation gasoline, or avgas, from a fuel distributor, between December 6 and December 7, 2012. Avgas is used to power piston-engined aircraft. Unlike motor fuel, it contains tetraethyl lead, a toxic substance that can damage cars’ catalytic converters and oxygen sensors.

Defendants are Pasmel Property, Inc., of Freehold, and six Pasmel-owned gas stations: Daninka, in North Plainfield; Express Fuel, in Trenton; Keyport Delta; Manasquan Lukoil; Lawrenceville Lukoil; and Scotch Plains Lukoil.

The also names Brooklyn-based Zephyr Oil, a fuel distributor, and Pittsgrove-based Lee Transport, a fuel transporter, as defendants.

Multiple violations

Between December 6 and December 8, the gas stations allegedly advertised the avgas to consumers as unleaded regular, plus, or premium motor fuel. The state claims consumers unknowingly purchased the avgas and faced a potential risk of significant problems with their vehicles.

Such conduct allegedly constitutes multiple violations of New Jersey’s Consumer Fraud Act, Motor Fuels Act, Weights and Measures Act, Motor Fuels Regulations, and Advertising Regulations, as well as the Federal Clean Air Act.

Additionally, the State charges that Zephyr Oil and Lee Transport violated the Consumer Fraud Act by selling and/or distributing leaded aviation fuel that they knew, or should have known, would be advertised and sold to consumers as unleaded motor fuel.

“Any consumers who believe they purchased fuel from these six gas stations between December 6 and December 8 is urged to call the Division of Consumer Affairs at 800-242-5846, especially if you believe your vehicle may have been damaged as a result,” said Eric T. Kanefsky, director of the Division of Consumer Affairs.

Should have known

The lawsuit maintains that on December 4, Zephyr Oil purchased approximately 73,000 gallons of avgas, from a California-based company that is not a defendant in the lawsuit. At the time of that sale, the aviation fuel was stored at a fuel terminal in Bayonne. Zephyr Oil sold the fuel that same day to Pasmel, at a significant discount compared to the price of premium motor fuel at the time. Zephyr contracted with Lee Transport to deliver the avgas from the Bayonne terminal to the Pasmel stations.

The State alleges that Zephyr, Lee Transport, and Pasmel all knew or should have known that the fuel being delivered to the Pasmel stations was aviation fuel. The bills of lading clearly noted that the fuel was “AVGAS – Aviation.” In addition, the loading forms signed by Lee Transport identified the fuel as “AVGAS,” as did the weight tickets from the Bayonne fuel terminal.

It was not until the afternoon of December 7 that an employee of the fuel terminal learned from a Lee Transport driver, that Lee Transport was delivering the aviation fuel to gas stations, according to the State’s lawsuit. After learning this, the fuel terminal halted the remaining deliveries. As a result, the remaining 8,000 gallons of avgas purchased by Pasmel was not delivered to any of the gas stations.

Violations of the Consumer Fraud Act may result in civil penalties of up to $10,000 for a first violation and up to $20,000 for subsequent violations. Violations of the Motor Fuels Act may result in civil penalties of up to $1,500 for a first violation and up to $3,000 for subsequent violations.  

Even as sales of new and existing homes continue to show strength, mortgage and refinance applications headed downward last week.

Figures released by the Mortgage Bankers Association (MBA) show mortgage applications were down 8.8% from a week earlier, while refinance applications plunged 12%. The drop in refinance applications this year is largest single week drop this year

"Refinance applications fell for the third straight week bringing the refinance index to its lowest level since December 2012 as mortgage rates increased to their highest level in a year,” said Mike Fratantoni, MBA’s vice president of research and economics. “Rates rose in response to stronger economic data and an increasing chance that the Fed may soon begin to taper their asset purchases."

The refinance share of mortgage activity decreased to 71% of total applications from 74% the previous week to the lowest level since April 2012. The adjustable-rate mortgage (ARM) share of activity increased to 5% of total applications.

Rising interest rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 3.90%, the highest rate since May 2012, from 3.78%, with points unchanged at 0.39 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) increased to 4.07%, the highest rate since August 2012, from 3.93%, with points decreasing to 0.27 from 0.36 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.62%, the highest rate since August 2012, from 3.53%, with points increasing to 0.27 from 0.13 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.10%, the highest rate since August 2012, from 2.96%, with points decreasing to 0.30 from 0.32 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs was unchanged at 2.60%, with points increasing to 0.24 from 0.23 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

Trying to stay fit can be a fulltime job that often requires a lot of discipline. But while a lot of people are mindful of what they eat and try their best to get enough exercise, they're not always mindful of keeping their pet physically fit.

According to PetObesityPrevention.com, 88.4 million pets in the United States are overweight. Other statistics show that 53% of dogs and 55% of cats are obese.

And why are so many pets overweight? Experts say it's fairly simple --their owners are feeding them too much.

Statistics show that 95% of pet owners give their pets several treats per day. In addition, 22% of dog owners think their overweight dog isn't overweight. And 15% of cat owners who have obese cats think the same thing.

Setting an example

Richard French, DVM, M.S., Ph.D., Dean of Animal Studies and Allerton Chair of Animal Health Sciences at Becker College, says if a pet owner's household isn't into physical fitness, the pet won't be either.

"When we see dogs that are overweight, we essentially should see a child that's at risk for excess weight," he says. "Think about the lifestyles of many of our young people, and then we can readily see how their pets are emulating those lifestyles.

"If a child is playing video games all day, the dog isn't outside playing," says French. "Rather, the pet is sitting at her feet or on the sofa. If the child is lying around snacking on high-calorie treats, chances are the dog is sharing in those same excess calories -- and is also likely to get something from the dinner table." 

Watch those pet snacks

Other experts say pet owners have to be more aware of the treats they're giving their pets. A typical dog treat given to a 20-pound dog is the same thing as a human eating two double-stuffed fudge cookies. And one pig's ear given to a 40-pound dog is equivalent to one person drinking a six pack of soda.

Dr. Michael Hutchinson of the veterinarian hospital Animal General says a lot of pet owners just aren't focused on their pets' weight.

"It's a silent epidemic that's killing our pets," Hutchinson said in an interview with CBS News. "Obesity is increasing every year. And that's the sad thing. We would think with education it should be decreasing. The disconnect is that owners don't see them as overweight; even after they're told, they still think they're normal."

Weight creeps higher

Pet owner Kim Stevens said it happened to her. She didn't even notice that her mixed breed dog, Dodger, was packing on the pounds.

"I didn't notice the weight creeping on, it was like all of a sudden he was just this fat dog," she said in an interview with CNN. "His weight is about 82 pounds right now, and he should be 62 pounds. Too much food and not enough exercise [was the reason]."

Dr. Barry Goldberg of EZ VET says that many pet owners don't even know if their pet is obese or not.

"You'd be amazed how many pet parents have no idea that their pet is overweight," he said. "They may guess their nine-pound Chihuahua is two to three pounds overweight and not think it's a big deal. But those three little extra pounds is approximately 33% of their body weight. Can you imagine carrying around 33% extra weight?

"Many pet parents simply don't know what the healthy weight range is for their pet's breed, gender and age or understand why it is so important," Goldberg added.

What to do

Many of the reasons that people become obese are the same reasons why their pets become obese, so it all starts with diet and exercise, experts say.

For dogs it's best to set-up a workout routine. At first the routine should be for a short period of time and then get longer and more challenging as time passes.

In addition, food shouldn't be left out for your dog to eat whenever he or she wants. Dogs should be fed between two and four times a day.

And when it comes to giving your dog treats, find healthy ones. Baby carrots, sweet potatos and apples make great healthy, non-fattening treats.

Cats should be fed no more than two or three times a day, experts say. And owners shouldn't be feeding them table scraps or extra snacks.

In addition, keep a close eye on your cat and make sure he or she isn't getting food elsewhere, like from that sweet older lady living next door.

And since there isn't one perfect kind of diet for cats or dogs, it's important to take your pet to the veterinarian regularly to see what type of diet is best.

French says if pet owners increase their own level of physical fitness, their pet's physical fitness will often increase too.

"Get outside with your dog," he says. "Go for a walk or play fetch. Run around the house with a feather on the end of a lead with your cat. Take an unflinching look at your lives together.

"Rather than sit together, play together. Exercise together. Eat right together. Picture a healthier you looking fit and trim, and do the same with your dog, cat or other favorite pet," French concludes.

When you buy a car, whether new or used, you rightfully feel a strong sense of ownership. It's yours, you paid for it.

While that's true, the information about your vehicle is beyond your control, and it may be accurate or inaccurate. If it's the latter, that can be a problem when it comes time to trade in or sell your vehicle.

Increasingly, buyers rely on automotive data services such as Carfax to decide whether to purchase a particular car or truck. If they see something in the report they don't like, they may back off or be unwilling to pay anywhere near the asking price.

No damage

“Several years ago, while towing our fifth wheel camper, a car hit our camper while we were stopped at a light,” Lori, of Sebring, Fla., wrote in a ConsumerAffairs post. “Our camper and truck received no damage. The lady who hit us received a lot of damage because she ran into the steel frame trunk carrier we had installed at the back of our camper. We went to look at new cars yesterday and were told that the trade-in amount for our F-250 diesel truck would be thousands less because of the accident reported on Carfax.”

It's understandable how this happened. An accident report was filed and an insurance claim paid. Even though Lori didn't file a claim her vehicle was listed as being involved in an accident. The report went no further than that fact.

Sometimes, consumers say they find outright errors on the reports.

Phantom accident

“When selling my 2008 Jeep, the buyer pulled a Carfax report which showed an accident in Virginia in 2009,” writes Addison, of Greensboro, N.C. “That never happened. AutoCheck, which most reputable dealers are using now had a correct report. I contacted Carfax, by email of course as that's the only way you can, and sent a letter from VA DMV as well as my insurance company. I haven't heard a word from them. Their error cost me $1500 on the sale.”

Richard, of Spokane, Wash., was trying to sell his truck when he said the Carfax report stopped the sale cold.

“It said it was recovered, totaled,” Richard wrote in a post. How can I fix this? The truck has never been stolen and is in near perfect condition.”

There is a way to try to correct what you believe to be errors on a Carfax report. The first step is knowing what is in the report, meaning you'll need to purchase the report. Identify any information that you believe to be incorrect.

Prove it

Next, you need to prove that the information is wrong. Unfortunately, this isn't always easy to do. How, for example, can Lori prove that her truck was not damaged in the accident that showed up on her report? Richard may have a hard time proving his truck was not stolen but perhaps his insurance company could provide a letter stating it never paid a claim. Since the vehicle was listed as “totaled,” that could help.

Once you have gathered your evidence, go to the Carfax Data Correction page. Type in all the requested information, including the vehicle information number (VIN). The form gives you a box in which to go into detail about the error. Be brief and polite. It won't help your case to let off steam and make accusations. You need these people to help you.

Provide a list of supporting documents you have to prove the report is in error. You won't be asked to provide them until later. After you submit the form, you'll have to wait until a Carfax representative contacts you.

Since this may not happen quickly, it's a good idea to pull your Carfax report well before you plan to sell or trade-in your vehicle. That will give you the necessary time to correct any errors before they cost you money.

Pharmaceutical companies invest billions in research on drugs and treatment for Alzheimer's disease, but a British study suggests inexpensive vitamins may be just as helpful.

A study at the University of Oxford found that B vitamins, in particular, can help reduce brain shrinkage for older people with dementia and other memory ailments. In a 2010 clinical trial, patients taking vitamin B had significantly slower total brain shrinkage.

It's no cure, of course, but the scientists suggest it's a cheap way to slow the onset of the fatal disease that robs its victims of memory function. Some physicians have been recommending vitamin B for older patients for years.

Improves memory

“Vitamin B-12 helps maintain healthy nerve cells and red blood cells,” according to Glen Smith, PhD., of the Mayo Clinic. “A vitamin B-12 deficiency — most common in older adults and vegetarians — can cause various signs and symptoms, including memory loss. In such cases, vitamin B-12 supplements can help improve memory.”

To date there is no evidence to suggest that vitamin B-12 supplements enhance memory if you already have Alzheimer's disease. Vitamin B-12 is found naturally in foods that come from animals, including fish, meat and poultry. In addition, a lot of popular breakfast cereals are fortified with vitamin B-12.

If vitamin B does, in fact, prove effective at delaying the onset of Alzheimer's, it could prove to be an inexpensive way to postpone what is expected to be a wave of new cases as the large baby boom generation moves into old age. Meanwhile, research on cure and prevention continues.

Cancer drug

Researchers at the University of Pittsburgh Graduate School of Public Health say a drug used mostly against cancer has been found to reverse memory deficits in a study using mice.

The researchers studied results of tests on the drug bexarotene, which is a Food and Drug Administration (FDA)-approved drug for use in treating cutaneous T cell lymphoma. The Pitt Public Health researchers were able to verify that the drug significantly improves memory deficits in mice expressing gene mutations linked to human Alzheimer's disease. However, they say they could not confirm the effect on amyloid plaques, which are believed to be a leading Alzheimer's trigger.

"We believe these findings make a solid case for continued exploration of bexarotene as a therapeutic treatment for Alzheimer's disease," said senior author Dr. Rada Koldamova.

The Pitt study is just the latest in a number of recent research efforts that have reported promising breakthroughs in either treating or preventing the disease, but that have yet to bear any fruit.

Recent research

A 2006 study in the American Journal of Medicine suggested three or more servings of fruit juice per week netted a 76% reduction in Alzheimer's risk.

In 2008 British researchers said they had developed a drug that, taken daily in pill form, stops Alzheimer's disease in its tracks. The drug is known as Rember, and scientists reported it appeared to be twice as effective as current Alzheimer's treatments, reducing the effects of the memory-robbing disease by as much as 81 percent.

In 2012 researchers at the Mayo Clinic in Florida reported discovery of an enzyme that could represent a powerful new tool for combating Alzheimer's disease. The enzyme -- known as BACE2 -- destroyed beta-amyloid, a toxic protein fragment that litters the brains of patients who have the disease, in clinical trials.

Meanwhile, the threat from Alzheimer's disease seems to grow each year as the population ages. According to the Alzheimer's Association Alzheimer's disease is the sixth leading cause of death in the United States and more than five million Americans are currently living with the disease.

It says that in 2012, 15.4 million caregivers provided more than 17.5 billion hours of unpaid care valued at $216 billion.  

Although it seems the U.S. economy is improving a bit, people are still stressed out. According to research conducted by Harris Interactive for Everest College, 83% of U.S. employees said their jobs are causing them stress.

And based on statistics from the American Psychological Association, 54% of Americans say they're worried about the stress they're feeling every day.

What's up?

Why else are people feeling stressed these days?

Psychologist and TV personality Keith Ablow told Fox News that today's kind of stress is different from the stress people faced a few decades ago.

"I think the deployment of technology which makes people available 24/7 [causes stress]," he said. "The amount of focus and the need to keep up with appearances and what seems to be a trading in of some moral values and groundedness for the desire for quick riches."

In addition, Ablow says the high price of items today is another huge cause of stress. And the aggressive way items are branded  contributes to stress too.

"With housing being expensive as it is, with everything in our culture being branded and expensive now and aspirational, people feel stressed that they're not making the money they once did in order to just buy things that were ordinary," he says. "Now everybody is trying to outperform everybody right away."

More than money

And what else besides money is raising people's stress level?

According to a study sponsored by Dearfoams, a company that sells slippers and sleepwear, the top five things people are stressed about are job pressure, money, health, relationships and poor nutrition.

In addition, 77% of people said they feel the symptoms of stress physically and 73% said they feel them psychologically. Moreover, 33% said they feel under "extreme stress."

And the study shows that 48% of folks said their stress has increased in the last five years and 76% believe money and work are the main causes of their stress.

Stress levels

But not everyone feels the same level of stress. In fact, some might say there are people who experience very little of it. So what's the difference? Why are some people better at dealing with stress than others?

Redford Williams, M.D., the director of the Behavioral Medicine Research Center at Duke University said some people experience fear during difficult times and some don't.

"Some people seem to be resistant to stress, whereas others are much more sensitive to stress," he said in an interview with ABC News. "At one level, we can look at this at the level of personality. Some of us have a personality which doesn't experience negative emotions like anxiety, fear, anger, sadness as much as others when bad things are happening.

"Others of us have a personality which means that we're very sensitive to experience those emotions when bad things are happening. So there's a personality predisposition to be either stress-prone or stress-resistant," Williams explained.

What to do

To help decrease stress, the Dearfoams study shows that 49% of people listen to music, 48% exercise, 46% spend time with family and friends and 45% choose to read a book.

But what else can you do? Eat healthy, experts say.

Stress can raise your bloodstream's cortisol level, which can make you want fatty and unhealthy foods, the study shows. So not only is it important to remember this fact, but it's important to have healthy foods close by.

The Centers for Disease Control and Prevention says the four main things you should do to lower stress are eat a well-balanced meal each day, exercise regularly, get a lot of sleep and take time out from whatever is causing you stress.

Participating in a hobby is good too. Finding time away from the things that cause you stress is important to do on a consistent basis, say experts.

The folks at the National Institutes of Health say some people may have to seek medical help for their stress. If you feel dizziness, have extreme panic, start breathing heavily or your heart begins to race, get medical help as soon as possible.

Psychologist Robert Rosen, chief executive of the Virginia-based consulting practice Healthy Companies International, said people should prepare themselves for adversity.

And they should try to focus harder on the good things in their lives, especially when things aren't looking too bright.

"Change your expectations from idealistic to realistic," said Rosen in an interview with The New York Times. "Expect life to be tough sometimes but also expect that you are resilient and will bounce back. Focus on the positives in your life -- like family or hobbies -- because it's rare that everything falls apart at once."

The iPhone lags Android phones in sales but Apple remains the most profitable smartphone maker. Some Apple fans think that's small consolation, that the company could dominate the smartphone universe if only it would lower the price of its flagship device, the iPhone.

Currently the iPhone 5 sells for $649 through most participating carriers but is $199.99 with a two-year contract. That happens to be the very same price as Samsung's newest smartphone, the Galaxy S4.

However, budget-conscious shoppers can get other Android phones for much less. The Samsung Galaxy Stellar is just $19.99 with a two-year agreement. The LG Lucid 2 at Verizon Wireless is free when you sign on for two years. Some in the tech world think Apple would sell more iPhones if it had a cheaper version that wasn't two generations behind.

Persistent rumor

Last week the buzz about a possible lower-cost iPhone got louder. A technology news site in Japan – Macotakara – has reported that Apple is preparing for trial production of a new device, the iPhone 5S, that will come in a variety of colors. This isn't the first time these kinds of rumors have floated to the surface. In fact, Apple shot down one such report earlier this year.

But it's worth noting that Apple's co-founder, the late Steve Jobs, vowed Apple would never produce a seven-inch iPad. Yet in 2012 it did exactly that, rolling out the popular iPad Mini. One reason for the device's popularity, tech analysts said, was its lower price tag. They suggest the same thing could help iPhone sales. So tech analysts tend to look at Apple's denials with a bit of skepticism.

The Macotakara report suggests the cheaper iPhone would carry an unsubsidized price as low as $350, meaning its subsidized price could fall below $100. The report also said Apple is planning an update of its current iPhone and iPad products, presumably at their present price points.

Repair costs aren't cheap either

“I had to bring it to the Apple store because they couldn't restore it,” she wrote in a ConsumerAffairs post. “They said they couldn't do anything about it but I must replace the phone for another $250 and another $100 for insurance. One-thousand dollars total that I had to pay for this phone. Arghhhghhhhhh.”

Even when iPhones can be repaired, it's expensive. Marketwatch.com recently reported that the going rate to repair an iPhone 5 with a damaged screen is $229, more than the initial subsidized cost of the device.

More companies turning out Android phones

While Samsung is viewed as Apple's biggest smartphone competitor, it is only one company turning out Android phones. Other companies are increasing their sales at a rapid clip as they, combined, turn out dozens of new model phones in the time it takes Apple to update the iPhone.

LG has announced a doubling of its smartphone sales over the last 12 months. LG credit that growth to the fact that it has produced phones for both the premium and budget markets.

The question is, is Apple about to follow suit?

Soothsayers have been predicting the end of LivingSocial nearly since the daily deals site launched and now finance site 24/7 Wall St. has listed it as No. 4 on its list of "Ten Brands That Will Disappear in 2014."

It was just last month that AdWeek predicted the company would be sold or liquidated by next spring.

While online opinion pieces can be easily dismissed, a recent SEC filing by Amazon, which invested $175 million in LivingSocial in 2010, carries a bit more weight. Amazon's filing indicated it was writing down its investment by $169 million after LivingSocial lost $50 million in the first quarter of this year. That's compared to a profit of $156 million in the same period a year ago.

LivingSocial is second only to Groupon in the daily deals sector but that's not saying much. Financial analysts say the whole daily deals concept began falling apart about the time it was launched.

Don't believe it? Consider this: Groupon's share price hit $26.50 a short time after it went public, then plunged to $2.60 last year. It's up a bit now but the company is still unprofitable.

Groupon and LivingSocial share a very serious problem -- they're competing with the likes of eBay, American Express and Amazon’s own AmazonLocal service, companies that are in a totally different league.  

Other brands on the most-likely-to-fail list? Well, it won't surprise you to know the list is headed by JC Penney, Barnes & Noble's Nook,  Martha Stewart Living Magazine and Volvo.