Current Events in January 2017

Home prices across the U.S. edged up 0.5% from October to November rose in November, and posted a year-over-year advance of 6.1%.

At the same time, the Federal Housing Finance Agency (FHFA) revised its monthly House Price Index (HPI) downward to show a gain of 0.3% instead of the 0.4% increase initially reported.

Regional breakdown

For the nine census divisions, monthly price changes ranged from -0.2% in the South Atlantic division to +1.5% in the Pacific division.

The 12-month changes were all positive, ranging from +4.7% in the Middle Atlantic division to +7.7% in the Pacific division.

The monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.

The complete report may be found on the FHFA website.

Jobless claims

An increase last week in the number of people filing first-time applications for state unemployment benefits.

The Department of Labor (DOL) reports initial jobless claims rose by 22,000 in the week ending January 21 to a seasonally adjusted 259,000. The previous week's level was revised up by 3,000 to 237,000.

The four-week moving average was down by 2,000 from the previous week to 245,500 -- the lowest level since November 3, 1973, when it was 244,000.

The four-week moving average, due to its relative lack of volatility, is considered a more accurate gauge of the labor market.

The full report is available on the DOL website.

Atlas Meat Company of Fort Collins, Colo., is recalling approximately 2,579 pounds of pork sausage products.

The products may contain monosodium glutamate (MSG), which is not declared on the label.

There have been no confirmed reports of adverse reactions due to consumption of these products.

The following items, from October 12, 2016, through January 23, 2017, are being recalled:

• 0.80 to 1.5-lb. vacuum-sealed or butcher paper wrapped packages containing “Atlas Meat Pork Breakfast Ssg.”
• 0.80 to 1.5-lb. vacuum-sealed or butcher paper wrapped packages containing “Atlas Meat Pork Italian ssg.”

The recalled products, bearing establishment number “EST. 40306” inside the USDA mark of inspection, were sold directly to consumers at the firm’s Fort Collins, Colo., location and shipped to retail locations in Colorado and Wyoming.

What to do

Consumers with questions about the recall may contact Juan Meza at (970) 224-9210.

There aren’t many options for consumers who have glioblastoma. These lethal brain tumors are connected to the lowest survival rates after recurrence, at 5% for a five-year period. For the last decade or so, patients have been treated through a combination of surgery, chemotherapy, and radiation. However, this only extends life for an average of four to six months after tumor recurrence, and there is currently no existing therapy that has been shown to be effective after tumors return.

But now scientists believe there is a way to fight glioblastoma and improve survival outcomes. Researchers at the Peter O’Donnel Jr. Brain Institute and Harold C. Simmons Comprehensive Cancer Center say that targeting a brain protein that drives tumor growth may allow for future treatment of all forms of the disease.

"These findings change our fundamental understanding of the molecular basis of glioblastoma, and how to treat it," said co-senior author Dr. Robert Bachoo. "We may have identified a set of critical genes we can target with drugs that are shared across nearly all glioblastomas."

Finding a new therapeutic target

During their studies, the researchers found that certain master proteins in the brain – called neurodevelopmental transcription factors -- are what ultimately drive glioblastoma growth. These proteins are responsible for the activity of hundreds of genes during brain development, but when they don’t do their job then the resulting mutations can cause tumor formation.

Bachoo explains that these gene mutations in the brain initially allow tumors to grow, but the disease becomes beyond control after a certain point.

"Our work shows that the gene mutations which the pharmaceutical industry and clinicians have been focusing on are essential only for starting tumor growth. Once the tumor has advanced to the stage where patients seek treatment, these mutations are no longer required for continued tumor growth; they are in effect redundant," he said.

This new idea counters previous theories by the medical community, which long thought that glioblastoma growth was driven by brain proteins called receptor tyrosine kinase. It also explains why drugs used to inhibit these proteins were ineffective at stopping tumor growth.

Solution still out of reach

Though a solution may be years away, the researchers have suggested using a chemotherapy drug called mithramycin, which has been out of clinical use for years because it can cause liver toxicity in some patients. They conclude that finding a safer and more effective treatment for brain tumor patients will take time, but having a target for treatment is encouraging.

"Our discovery has the potential for the development of a new therapy that may increase survival time for glioblastoma patients,” said Dr. Ralf Kittler.

The full study has been published in Cell Reports.

The state of Florida and the Federal Trade Commission (FTC) have reached a settlement with the operator of several debt settlement companies after filing a lawsuit last year.

The state and federal governments teamed up to bring charges against Chastity Valdes and the companies she controlled, Consumer Assistance LLC, Consumer Assistance Project Corp. and Palermo Global LLC.

The charges specifically accused the companies of targeting consumers with student loan debt with illegal debt relief offers.

The suit claimed the companies took up-front fees in return for their promised debt relief and credit repair services. They allegedly promised victims they could reduce the amount of their student loans and repair their credit.

Tough loan to get out of

Student loans, of course, are among the most binding of debts and can't even be discharged in bankruptcy.

Among the laws the defendants were accused of violating are the Florida Deceptive and Unfair Trade Practices Act, the FTC Act, the Telemarketing Sales Rule, and the Credit Repair Organizations Act.

The settlement essentially puts the companies out of business. Under the terms of the agreement, they cannot sell debt relief and credit repair services, and can't even make any material claims about any products or services.

They are also prohibited from misrepresenting endorsements, making money from consumers’ personal information, and being careless in the disposal of personal information.

They would also be required to cough up $2.3 million in damages, if they had it. Since they don't, they have to turn over all of their assets to Florida and federal authorities. If it turns out they weren't being truthful about the amount of the assets, the full $2.3 million judgment will be imposed.

Avoiding debt settlement pitches

Debt settlement schemes most commonly target people with large amounts of credit card debt, usually making it sound like it's easy to get credit card companies to agree to accept a fraction of what is owed.

That's hardly the way it works. When a consumer stops making payments, as advised by a debt settlement company, he or she is besieged by debt collectors. In the process, the consumer's credit score craters.

The FTC doesn't say you should never try to settle your debt, but it does say you need to be very, very careful. And you should always avoid doing business with a debt settlement firm that charges an upfront fee, which is illegal.

Remember, you can talk to your credit card company yourself, and will probably have better luck than a debt settlement company will.

Learn more about what the FTC advises on debt settlement here.

Jaguar Land Rover North America is recalling a total of 8,769 vehicles with a passenger front airbag inflator issue.

Included are model year 2012 Land Rover Range Rovers originally sold, or ever registered, in Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico, American Samoa, Guam, the Northern Mariana Islands (Saipan) and the U.S. Virgin Islands, or "Zone A."

Additionally, unless included in "Zone A," Land Rover is recalling model year 2009 Land Rover Range Rover vehicles, originally sold, or ever registered, in Arizona, Arkansas, Delaware, the District of Columbia, Illinois, Indiana, Kansas, Kentucky, Maryland, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Virginia and West Virginia, or "Zone B."

Further, Land Rover is recalling model year 2007-2008 Land Rover Range Rover vehicles originally sold, or ever registered in Alaska, Colorado, Connecticut, Idaho, Iowa, Maine, Massachusetts, Michigan, Minnesota, Montana, New Hampshire, New York, North Dakota, Oregon, Rhode Island, South Dakota, Utah, Vermont, Washington, Wisconsin and Wyoming.

The vehicles are equipped with airbag inflators assembled as part of the passenger front airbag modules, and used as original equipment or replacement equipment.

In the event of a crash necessitating deployment of the front airbags, these inflators may rupture due to propellant degradation occurring after long-term exposure to absolute humidity and temperature cycling.

An inflator rupture may result in metal fragments striking the vehicle occupants resulting in serious injury or death.

What to do

Land Rover will notify owners, and dealers will replace the front passenger air bag assemblies, free of charge. Parts are not currently available. Owners will be sent an interim notification around March 3, 2017. A second notice will be mailed when remedy parts are available.

Owners may contact Land Rover customer service at 1-800-637-6837. Land Rover's number for this recall is P082.

Mitsubishi Motors North America (MMNA) is recalling 1,964 model year 2012 and 2014 i-MiEV vehicles.

The vehicles are equipped with airbag inflators assembled as part of the passenger front airbag modules used as original equipment or replacement equipment.

In the event of a crash necessitating deployment of the front air bags, these inflators may rupture due to propellant degradation occurring after long-term exposure to absolute humidity and temperature cycling.

An inflator rupture may result in metal fragments striking the vehicle occupants resulting in serious injury or death.

What to do

MMNA will notify owners, and dealers will replace the front passenger air bag inflator, free of charge. The manufacturer has not yet provided a notification schedule.

Owners may contact MMNA customer service at 1-888-648-7820. MMNA's number for this recall is SR-17-001.

BMW of North America is recalling a total of 48,380 vehicles with a passenger front airbag inflator issue.

Te recall includes model year 2012 X5 xDrive30i, X5 xDrive35i, X5 xDrive48i, X5 xDrive50i, X5 M, X6 xDrive35i, X6 xDrive50i, and X6 M vehicles originally sold, or ever registered, in Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico, American Samoa, Guam, the Northern Mariana Islands (Saipan), and the U.S. Virgin Islands, or "Zone A."

Additionally, unless included in "Zone A,", BMW is recalling certain 2009 X5 xDrive30i, X5 xDrive35i, X5 xDrive48i, X5 xDrive50i, and X5 M vehicles, 2008-2009 X6 xDrive 35i, X6 xDrive50i, X6 M, and 2009 X5 xDrive35d vehicles originally sold, or ever registered, in Arizona, Arkansas, Delaware, District of Columbia, Illinois, Indiana, Kansas, Kentucky, Maryland, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Virginia, and West Virginia, or "Zone B."

Further, unless included in "Zone A" or "Zone B," BMW is recalling certain 2007-2008 X5 xDrive30i, X5 xDrive35i, X5 xDrive48i, X5 xDrive50i and X5 M vehicles, and 2008 X6 xDrive35i, X6 xDrive50i, and X6 M vehicles originally sold, or ever registered in the states of Alaska, Colorado, Connecticut, Idaho, Iowa, Maine, Massachusetts, Michigan, Minnesota, Montana, New Hampshire, New York, North Dakota, Oregon, Rhode Island, South Dakota, Utah, Vermont, Washington, Wisconsin, and Wyoming.

The vehicles are equipped with airbag inflators assembled as part of the passenger front airbag modules used as original equipment or replacement equipment.

In the event of a crash necessitating deployment of the front airbags, these inflators may rupture due to propellant degradation occurring after long-term exposure to high absolute humidity and temperature cycling.

An inflator rupture may result in metal fragments striking the vehicle occupants resulting in serious injury or death.

What to do

BMW will notify owners, and dealers will replace the front passenger airbag inflator or airbag module, free of charge. Interim letters informing owners that parts are not yet available are expected to be mailed March 1, 2017. Owners will receive a second notice when remedy parts become available.

Owners may contact BMW customer service at 1-800-525-7417.