Current Events in August 2017

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    'Clean meat' start-up corrals some big-time investors

    Food industry behemoth Cargill sees the potential to produce meat without killing animals

    Mempis Meat isn't in Memphis and the meat it manufactures doesn't come directly from animals, but that hasn't stopped it from landing $17 million from such well-known investors as Bill Gates, Richard Branson, and food industry giant Cargill. 

    The beefy investment was announced yesterday, setting off a burst of excitement in "clean meat" circles. 

    "Today is a watershed day for our environment, for sustainable food production, for global health, and for animals," said Bruce Friedrich, executive director of the Good Food Institute.  

    What is this clean meat anyway? It's sort of a way to have your meat and eat it too -- it's meat that has the same chemical composition as dead-animal meat. The difference is that instead of being raised on the hoof, so to speak, clean meat is made in the lab, using self-reproducing cells identical to those found in living animals.

    The process is touted as beneficial because it reduces the pollution produced by large herds of animals. Also, in a world increasingly populated by consumers who want to promote kindness to animals, it doesn't require raising and slaughtering living creatures. Of course, it also means that fewer animals will get to experience life on earth, but that's perhaps a question for another day. 

    “We’re going to bring meat to the plate in a more sustainable, affordable and delicious way,” said Uma Valeti, M.D., co-founder and CEO of Memphis Meats, in a press release. “The world loves to eat meat, and it is core to many of our cultures and traditions.

    "Meat demand is growing rapidly around the world. We want the world to keep eating what it loves. However, the way conventional meat is produced today creates challenges for the environment, animal welfare and human health," Valeti said.

    "Protein market"

    For its part, Cargill says the investment "is an exciting way for Cargill to explore the potential in this growing segment of the protein market."

    You won't find clean meat at the supermarket quite yet, though. Memphis Meats is very much a start-up and is still working towards bringing down the price of its product and clearing regulatory hurdles.

    Valeti says it now costs the company less than $2,400 to make a pound of meat -- still a pretty hefty price but a lot less than the $18,000 it cost last year.

    Both the U.S. Food and Drug Administration and the Agriculture Department will have to sign off on the process. Before doing that, they'll need to be convinced that clean meat is fit to eat.

    Mempis Meat isn't in Memphis and the meat it manufactures doesn't come directly from animals, but that hasn't stopped it from landing $17 million from such...

    Best credit cards and bank accounts for students

    Look for low fees and generous rewards

    College students are headed back to campus and most probably have a credit card in their wallet.

    For many, the college years provide an introduction to the use of credit, and using it wisely can prevent racking up expensive debt and maybe even damaging their credit standing.

    Picking the right card can help, according to card comparison site CreditCards.com. It picks the Discover It Chrome for students card as the top choice for students going back to school this fall.

    It's a rewards card, paying 2% cash back at restaurants and gas stations and 1% on everything else. There are no foreign transaction fees and, for the first time you're late making a payment, there's no late charge.

    Helpful resources

    The card also earns high marks for Discover's Credit Cards 101 feature, an online resource answering many novice card users' frequently asked questions.

    Another good choice is the Bank of America Cash Rewards card for students. You get 3% cash back on gasoline, 2% on groceries, and 1% on everything else.

    It also provides a $150 sign-up bonus if you spend $500 in the first three months the account is active. It also provides student-tailored credit tools to help card users better manage credit.

    The editors at personal finance site WalletHub agree that a student credit card is a useful introduction to credit. It says the first step toward becoming a savvy credit user is to pick the right card.

    What to look for

    Students should look for generous rewards, 0% intro interest rates, and low fees. Because of the increased competition in the credit card space, there are plenty that fit into that category.

    The site ranks cards based on different categories. It says students should pick the card that best matches their spending patterns.

    It agrees with CreditCards.com that the Bank of America Cash Rewards card for students is a good choice for consumers primarily purchasing gas and groceries. It also has a 15 month introductory period of 0% on purchases, which is helpful for buying books and paying for them over a period of a few months.

    But in the "everyday cash back" category, WalletHub selects the Journey Student Rewards card from Capital One. There is no annual fee and the card pays 1.25% cash back on every purchase.

    Besides a credit card, most college students open bank accounts. WalletHub says students should choose one that fits their needs and charges the fewest fees.

    In that category, it ranks the Northpointe Bank UltimateAccount as best overall. The bank is based in Grand Rapids, Mich., but allows anyone to open an online account. There's no monthly fee and you can get up to $10 reimbursement for ATM fees each month.

    College students are headed back to campus and most probably have a credit card in their wallet.For many, the college years provide an introduction to...

    Tonight's Powerball drawing worth $700 million

    But your odds of winning may be getting smaller

    Powerball is once again attracting attention outside the group of consumers who regularly buy lottery tickets.

    The jackpot for tonight's Powerball drawing has an annuity value of $700 million, the second largest on record. A single winner could also opt to take the cash value of $443 million.

    The drawing takes place at 11:00 pm ET, in Tallahassee, Fla. Tickets are usually sold up until an hour before the drawing.

    For the uninitiated, players pay $2 and select five white balls from a set of 69 numbers, plus a single red ball, the Powerball, from a second set of 26 numbers. You can pick your own numbers or have a computer do it for you.

    To win, you have to match all five numbers drawn, plus the Powerball number to win the jackpot.

    Big source of state revenue

    While the Powerball seems to bring out the greed in just about everyone, Drew Svitko, executive director of the Pennsylvania Lottery, reminds us it's all for a good cause, supporting a variety of social programs in the 44 participating states and the District of Columbia.

    "This surge in ticket sales is great news for the older Pennsylvanians who benefit from the sale of every Pennsylvania Lottery game," Svitko said. "No matter the jackpot level, we ask all players to please play responsibly."

    As the Washington Post reports, the odds in Powerball tend to favor the house. It says two years ago a player's odds of winning the jackpot were about one in 175 million. Now, it says the odds are about one in 292 million.

    "Tweaks to the game in October 2015 increased the number of total balls, from 59 to 69, from which players need to pick five. It may seem like a modest change, but the odds of winning the jackpot plummeted," the newspaper reports.

    But fewer winners means bigger jackpots. And eventually, someone will win, which is why people keep buying tickets.

    Powerball is once again attracting attention outside the group of consumers who regularly buy lottery tickets.The jackpot for tonight's Powerball drawi...

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      Most moms aren't following key rule of safe infant sleep, study finds

      A new study looks at what drives moms to place babies to sleep in positions other than on their backs

      As the old saying goes, it takes a village to raise a child. But could certain members of a family’s village be unwittingly passing along bad advice to new parents? According to a new study, the answer is yes.

      Most new moms know that “back is best” when it comes to how babies should be put to sleep, but many are heeding the advice of mothers and grandmothers instead of following the golden rule of safe infant sleep.

      New research, published in the journal Pediatrics, finds that new parents are receiving and listening to advice that contradicts their pediatrician’s -- and this could ultimately raise a baby’s risk of dying from SIDS or other fatal sleep-related conditions.

      Potential harm of matriarchal advice

      The study finds that babies born into communities or cultures with a stronger reliance on matriarchal advice than pediatrician intervention are at a greater risk for SIDS.

      "Grandmothers and aunts and everybody have told (mothers), if they have babies sleep on their bellies, they're more comfortable; they're not going to choke," said Dr. Robin Jacobson, a pediatrician at Hassenfeld Children's Hospital at NYU Langone Health.

      "And because of that, a new mom who doesn't really have a lot of information is using information from everybody else in their life,” Jacobson, who wasn't involved in the study, told CNN.

      The researchers found that 77% of mothers reported that they usually placed infants on their backs for sleep, but fewer than half of those mothers (43%) always did so.

      Behavior theory

      The survey of 3,297 mothers is the first to look at how behavior theory impacts whether or not infants are placed to sleep exclusively on their backs.

      "We looked at what drives people's behavior for adhering to safe infant sleeping practices, and found that so much of what influences their decision-making has to do with attitudes and subjective norms," said Dr. Eve Colson, professor of pediatrics at the Yale School of Medicine.

      "What do people around you do? What do you see people do? Who is your adviser, and what advice are they giving you? All these factors are very important as they affect the behavior of new parents,” she said.

      In families that tend to rely heavily on advice from senior family members, the risk of SIDS may be higher. According to CDC data, the sudden unexpected infant death rate of non-Hispanic black infants was 170.2 per 100,000 live births between 2011 and 2014 -- more than double the rate for non-Hispanic white infants (83.8 per 100,000).

      While well-meaning mothers and grandmothers may argue otherwise, the guidelines for safe sleep remain the same as they have been since 1994: it’s always best to place a baby to sleep on his or her back on a firm surface without pillows or loose covers.

      As the old saying goes, it takes a village to raise a child. But could certain members of a family’s village be unwittingly passing along bad advice to new...

      Wells Fargo warns there may be more bad news to come

      Expanded internal review of bank operations is nearing completion

      By any measure, it's been a rough 11 months for Wells Fargo. And the rough ride may not be over yet.

      It was just about a year ago that the bank disclosed that employees had opened checking and credit card accounts in customers' names without their consent, presumably to generate additional fees.

      In recent weeks, as the bank has struggled to improve its image on Wall Street, top executives have hesitated to say that all the bad news is out there, and the company can finally move on from the scandal.

      Now, Wells Fargo CEO Tim Sloan, in a message to Wells Fargo employees, has warned that the bank's internal review of its operations, conducted by a third party investigative team, could bring about additional unwanted attention.

      Expanded review

      The review covers an expanded time period -- 2009 through 2016 -- and examined account usage patterns. Sloan said it was instructed to "err on the side of the customer" in determining which accounts are included as "potentially unauthorized."

      In a lengthy memo published as a press release, Sloan said the results of the reviews, when they are published in the coming weeks, will probably "generate news headlines," suggesting there may be more questionable activities that have been uncovered. As bad as the news might be, Sloan suggests the report will finally put a cap on the unauthorized accounts scandal.

      "We believe our analysis of accounts will be complete," Sloan wrote in the memo. "We are going to spend the next several months issuing refunds and account credits to the customers we have just identified through our completed analysis and processing claims submitted in our class-action settlement. And even after that, we will always welcome any customer who comes to us with a concern."

      What Wells Fargo has already done

      Sloan also recounted the steps the bank has already taken to make things right for customers. Among them is the elimination of product sales goals, the introduction of new compensation and management programs that reward improving customers' experience, and beefing up oversight and risk control.

      Sloan says Wells Fargo has paid out more than $5 million so far in customer remediation and refunds. The bank also reached a $142 million class-action settlement with customers covering retail sales practices and unauthorized accounts dating back to 2002. The settlement will also compensate customers who saw their credit ratings fall as a result of doing business with the bank.

      By any measure, it's been a rough 11 months for Wells Fargo. And the rough ride may not be over yet.It was just about a year ago that the bank disclose...

      Researchers develop antibiotic against deadly superbug

      The team used multiple antibiotics to meet the urgent threat

      In the fight against antibiotic resistant bacteria, scientists have feared that mankind may soon be on the losing side. Recently, a team of researchers discovered a strain of E. coli that carries mcr-1 and ndm-5 genes, which effectively make them immune to many last-resort antibiotics that are currently available.

      Normally, this level of resistance would leave clinicians with no way to treat the superbug, but all hope is not yet lost. A separate team of researchers from the University of Buffalo say they have found a way to combine three antibiotics in order to kill the E. coli strain.

      "We believe that the appearance of mcr-1 and ndm-5 in patients may be a harbinger for what is to come. The golden era of antibiotics isn't over yet, but we wanted to help clinicians prepare therapeutically for the occurrence of these strains," said first author Zackery Bulman.

      "This is the first study to propose therapeutic solutions with three drugs against superbugs harboring mcr-1 and ndm-5. The results will help prepare clinicians for future occurrences of these pathogens."

      Addressing an urgent threat

      Principal investigator Brian Tsuji says that the highly resistant E. coli strain is an immediate concern because it could spread rapidly among consumers unchecked. However, he says that urgency of threat forced the researchers to think outside the box to come up with a solution that went beyond traditional antibiotic combinations.

      To come up with an answer, the team eventually turned to a class of antibiotics called polymyxins, which are only used as a last resort because they have been known to cause kidney damage. The researchers combined the antibiotics with 15 different drugs to try to reduce this harmful side effect and eventually developed an effective treatment.

      "We knew that polymyxins alone couldn't work. Only the three drugs combined were able to work synergistically to suppress and kill the bacteria. We overcame the bacteria by pushing it as far as possible with an agent that it was resistant to while simultaneously administering two other antibiotics," explains Bulman.

      The researchers say that the finding could provide a viable treatment option for treating mcr-1 and ndm-5 E. coli strains, but further research and testing will need to be conducted.

      The full study has been published in mBio.

      In the fight against antibiotic resistant bacteria, scientists have feared that mankind may soon be on the losing side. Recently, a team of researchers dis...

      Solar eclipse blamed for salmon farm bust-out

      Thousands of farmed fish escaped, putting native Washington State salmon at risk

      The solar eclipse didn't cause the mass havoc some had feared. There were no massive traffic pile-ups, unruly sun-watchers, or epidemics of damaged retinas. Ah, but then there are those salmon.

      Washington State officials are urging the public to catch as many salmon as they can after it was discovered that high tides resulting from the eclipse damaged a net pen holding 305,000 farm salmon at a Cooke Aquaculture fish farm near Cypress Island, allowing an unknown number to escape, the Seattle Times reported.

      The prison pen bust-out was discovered by fishermen over the weekend when they pulled up spotted, silvery salmon instead of the chinook they were expecting.

      No one knows how many fish made the big break, but officials from the Washington Department of Fish and Wildlife (WDFW) say it's at least 4,000 to 5,000. The fish are about 10 pounds each. 

      "High tides and currents"

      Cooke is blaming the escape on “exceptionally high tides and currents coinciding with this week’s solar eclipse” although the pen apparently collapsed on Saturday, a few days before the eclipse.

      “It appears that many fish are still contained within the nets,” Cooke said in the statement. “It will not be possible to confirm exact numbers of fish losses until harvesting is completed and an inventory of fish in the pens has been conducted.”

      Fishermen and wildlife officials are worried about the effect the farmed salmon will have on the native Atlantic salmon that inhabit the waters in the area.

      WDFW officials are urging licensed fishermen to catch as many of the farmed salmon as they can. 

      “Catch as many as you want,” the WDFW's Ron Warren said. “We don’t want anything competing with our natural populations. We have never seen a successful crossbreeding with Atlantic salmon, but we don’t want to test the theory.”

      The solar eclipse didn't cause the mass havoc some had feared. There were no massive traffic pile-ups, unruly sun-watchers, or epidemics of damaged retinas...

      Good jobs that don't require a bachelor's degree

      CareerCast study highlights good-paying jobs in healthcare and the building trades

      The high cost of college and the example of graduates struggling under a mountain of student loan debt may have led some to question the value of going to college.

      Then again, not getting a bachelor's degree could well slam the door on many career paths and a prosperous future. But more and more employers are looking past the college degree requirement and some of the jobs pay pretty well.

      "The Economic Policy Institute estimates that workers with a four-year college degree make about 56% more than those who don't, based on 2015 salary figures," said Kyle Kensing, online content editor at CareerCast. "However, we have identified some great jobs that pay a high wage which don't require four years of college."

      Lots of good jobs in healthcare

      Not surprisingly many of the jobs are in healthcare, since that is a booming sector which needs well-trained workers. But the required knowledge is more likely to come from specialized training, rather than a college degree.

      In the healthcare field, there is increasing demand for the positions of diagnostic medical sonographer, medical records technician, optician, and respiratory therapist. All of those positions made CareerCast's top 10 jobs that don't require a bachelor's degree.

      The study found there are other very good opportunities for people who want to bypass a four-year degree and become an electrician, plumber, executive assistant, broadcast technician, and web developer.

      Electrician shortage

      A recent report from Klein Tools, based on feedback from union and non-union electricians, found a growing skills gap as more and more electricians are leaving the profession.

      To become an electrician, a candidate needs a high school diploma or GED certificate. A basic foundation in math is helpful.

      For people with technical skills but no college degree, being a web developer can be an attractive option, one that CareerCast has named as one of the best for part-time and freelance work. For those with skills and training, there are lots of opportunities to work on a contract basis.

      With a two-year associate's degree, a web developer might earn a median salary of $66,130 per year and work in an industry with a 27% growth outlook.

      Top 10 jobs

      According to CareerCast, here are the top 10 jobs that don't require a four-year degree and what they pay:

      1. Web developer -- $66,130
      2. Diagnostic medical sonographer -- $64,280
      3. Respiratory therapist -- $58,670
      4. Executive assistant -- $55,860
      5. Electrician -- $52,720
      6. Plumber -- $51,540
      7. Paralegal -- $49,500
      8. Industrial machine maintenance -- $49,100
      9. Broadcast technician -- $42,550
      10. Medical record technician -- $38,040

      The list is based on data from the Bureau of Labor Statistics (BLS), including annual median salary, hiring outlook and the recommended level of education required to get started.

      The high cost of college and the example of graduates struggling under a mountain of student loan debt may have led some to question the value of going to...

      American Express pays redress to Spanish-language customers

      The company discriminated against consumers in Puerto Rico and elsewhere, feds say

      American Express is paying $96 million in redress to Spanish-speaking consumers in Puerto Rico, the U.S. Virgin Islands, and elsewhere as part of an agreement with the Consumer Financial Protection Bureau (CFPB).

      The bureau said that two American Express banking subsidiaries discriminated against the Spanish-language consumers by providing them with credit and charge card terms that were inferior to those available in the 50 states.

      “Consumer financial protections are not confined within the 50 states,” said CFPB Director Richard Cordray. “American Express discriminated against consumers in Puerto Rico and the U.S. territories by providing them with less-favorable financial products and services."

      Cordray said that no civil penalties were being assessed because American Express discovered the problem, reported it, and "fully cooperated" with the CFPB's investigation.

      Over the course of at least ten years, more than 200,000 consumers were harmed by American Express’ discriminatory practices, which included charging higher interest rates, imposing stricter credit cutoffs, and providing less debt forgiveness, the CFPB said.

      American Express has already paid approximately $95 million in consumer redress and today’s order requires it to pay at least another $1 million to fully compensate harmed consumers.

      The full text of the CFPB’s consent order is available here.

      American Express is paying $96 million in redress to Spanish-speaking consumers in Puerto Rico, the U.S. Virgin Islands, and elsewhere as part of an agreem...

      CDC provides update on Salmonella outbreaks linked to poultry and backyard flocks

      There have been 961 infection cases, 215 hospitalizations, and one death

      Back in June, the Centers for Disease Control and Prevention (CDC) issued a public warning that linked a string of eight Salmonella outbreaks to live poultry living in backyard flocks. Now, the agency is providing an update on its outbreak advisory.

      To date, the CDC says that backyard flocks and exposure to live poultry have contributed to 10 separate multistate outbreaks of Salmonella infections, comprising 961 illnesses, 215 hospitalizations, and one death.

      In interviews, the agency says that 498 of the 672 people (74%) who became sick reported contact with live poultry in the week leading up to the start of their illness. Many of these consumers said that nothing seemed wrong with the birds at the time, but the CDC says that visible symptoms aren’t necessary for poultry to be carrying Salmonella bacteria.

      “Contact with live poultry or their environment can make people sick with Salmonella infections. Live poultry can be carrying Salmonella bacteria but appear healthy and clean, with no sign of illness,” the CDC said.

      What to do

      To help curb the number of infection cases, the CDC is offering advice to consumers with backyard flocks, mail-order hatcheries, and feed stores that sell or display live poultry. Below you can find a breakdown of that guidance.

      Backyard flock owners should be sure to:

      • Wash their hands after handling any live poultry;
      • Not allow live chickens, ducks, or geese in the house, especially in the kitchen;
      • Not allow children under the age of 5 to handle or touch live poultry or eggs without supervision; and
      • Not eat or drink near birds or allow them near their face or mouth.

      Mail-order hatcheries are urged to:

      • Provide health-related information to owners and potential purchasers before they buy any birds;
      • Put interventions in place to help prevent contamination and infection of poultry with Salmonella; and
      • Sign up to participate in the U.S. Salmonella Monitored Program, which certifies that flocks are monitored for Salmonella bacteria that may cause illness to consumers.

      Feed stores that sell or display live poultry should:

      • Source the birds they sell from suppliers that have adopted the USDA’s best management practices to mitigate Salmonella contamination;
      • Source the birds they sell from hatcheries which voluntarily participate in the U.S. Department of Agriculture’s National Poultry Improvement Plan;
      • Provide health information to owners and potential purchasers before they buy any birds;
      • Place health information in clear view where birds are displayed;
      • Provide hand washing stations or hand sanitizer next to poultry display areas and remind customers to wash their hands right after leaving these areas;
      • Display poultry out of reach of customers, especially children; and
      • Clean the areas where birds are displayed between shipments of new birds.

      For more comprehensive information on how to sign up for programs and data on previous outbreaks linked to backyard flocks and poultry, visit the CDC’s site here.

      Back in June, the Centers for Disease Control and Prevention (CDC) issued a public warning that linked a string of eight Salmonella outbreaks to live poult...

      Walmart shoppers can soon order on Google Assistant

      Retailer seeks to counter Amazon voice ordering through Alexa

      In the world of retail, Walmart is viewed as the most formidable challenger to Amazon, and that company has just made another move on the retail chess board.

      In an obvious answer to Amazon's voice ordering capability through the Echo device, Walmart has signed a deal for voice ordering through the Google Assistant.

      What makes this deal unique -- other retailers have the ability to take voice orders through Google -- for the first time Google will sync up with Walmart accounts. This could make reordering much easier, since Google Assistant will know what products consumers purchased in the past.

      Marc Lore, CEO of Walmart U.S. eCommerce, says the partnership integrates Walmart's Easy Reorder feature into Google Express. With it, he says consumers can build a basket of previously ordered items. Because of Google's technology, Lore said it just made sense to team up with the tech giant.

      'Transparent shopping universe'

      "They’ve made significant investments in natural language processing and artificial intelligence to deliver a powerful voice shopping experience," Lore wrote in the company blog. "We know this means being compared side-by-side with other retailers, and we think that’s the way it should be. An open and transparent shopping universe is good for customers."

      He also hinted that Walmart plans additional features and services related to voice shopping -- plans that leverage Walmart's brick and mortar stores and fulfillment network.

      Consumers currently can use Google Assistant to order from Costco and Target, but Walmart says it is the first to make account histories accessible.

      "If you’re an existing Walmart customer, you can choose to link your Walmart account to Google and receive personalized shopping results based on your online and in-store Walmart purchases," said Sridhar Ramaswamy, Google's senior vice president for ads & commerce. "For example, if you order Tide PODS or Gatorade, your Google Assistant will let you know which size and type you previously ordered from Walmart, making it easy for you to buy the right product again."

      The Walmart-Google connection will start in late September.

      In the world of retail, Walmart is viewed as the most formidable challenger to Amazon, and that company has just made another move on the retail chess boar...

      Kohl's looks to expand online sales while reformatting its stores

      The company is opening a new e-commerce fulfillment center and expanding online ordering

      It’s no secret that brick-and-mortar retailers have been struggling as of late, with in-store sales slipping and foot traffic continuing to decline. To return to profitability, some retailers have invested in increasing their online presence to attract customers.

      That model is exactly what retailing chain Kohl’s will be looking to follow in the coming years. The company announced that it will be opening a fifth e-commerce fulfillment center and reformatting its stores to become smaller and more engaging for customers.

      “Our stores remain at the core of our omnichannel strategy and we will continue to invest in them by opening smaller formats, rightsizing and optimizing our selling space and working to ensure that shopping in our stores is an engaging and inspiring experience for our customers,” said Kohl’s president, chairman, and CEO Kevin Mansell.

      “We have set a goal to be the best-in-class omnichannel retailer and opening our fifth e-commerce distribution center will support the delivery of online orders faster and more efficiently to customers nationwide.”

      Reformatting and focusing online

      The new e-commerce fulfilment center, which is scheduled to open in Plainfield, Indiana this month, will be a 937,000-foot facility that will be dedicated to fulfilling customers’ online orders. Combined with its other facilities in California, Maryland, Ohio, and Texas, the company says that it will be more able than ever to meet its customers’ needs across the nation.

      In addition to the new fulfillment center, Kohl’s will also be opening four new small format stores in North Smithfield, Rhode Island; Blue Ash, Ohio; East Windsor, New Jersey; and Montebello, California. The company says the new stores will focus on localized merchandise and assortments and will allow customers to view a complete catalogue of products via in-store Kohl’s Kiosks. Those who use the kiosks can have goods shipped to their home free of charge or can pick them up at the store location when they arrive.

      Lastly, Kohl’s says that it will continue its efforts to reformat existing stores through a process it refers to as “rightsizing” in order to enhance profitability and improve the customer experience. To date, the company has optimized around 300 of its 1,100 stores, and it plans to make half of its stores operationally smaller by the end of 2017.

      “By optimizing and rightsizing stores based on customer and inventory needs, Kohl’s stores are able to operate more efficiently and provide a more engaging customer experience,” the company said.

      It’s no secret that brick-and-mortar retailers have been struggling as of late, with in-store sales slipping and foot traffic continuing to decline. To ret...

      Back-to-school shopping on the back burner

      Many parents still have a lot of purchases to make

      Even though a lot of kids are already back in the classroom, the annual survey conducted for the National Retail Federation (NRF) by Prosper Insights & Analytics shows many families still have a lot of shopping left to do.

      According to the survey, the average family with children in grades K-12 had completed only 45% of their shopping as of early August compared with a peak of 52% at the same time in 2013 and 48% last year.

      “Parents this year have been taking longer than usual to finish buying the clothing and supplies their children need for school,” said NRF President and CEO Matthew Shay. “Many kids are already getting on the bus and millions more will be back in class in another week or two, so anybody who hasn’t finished shopping by now is cutting it close.”

      The art of putting it off

      Of parents surveyed August 1-9, only 13% had completed all their shopping, and 23% hadn't even started. These results come despite the fact that 27% of parents had said they planned to start shopping at least two months before the start of the school year, an increase from last year's 22%.

      NRF projects families will spend $83.6 billion on back-to-school this year -- including $29.5 billion on K-12 and $54.1 billion on college.

      K-12 shopping

      Among K-12 parents, 79% said they still needed to buy basic supplies such as pencils and paper, followed by 75% who need to buy apparel and 58% who still need to buy shoes.

      To wrap up their buying, 55% planned to head to department stores, 49% to discount stores, 39% to clothing stores, 35% to office supply stores, and 33% online.

      According to the survey, 61% of school supply purchases were influenced by school requirements, while 41% of electronics purchases were dictated by what schools required.

      “Similar to recent years, some of the big-ticket items are being significantly influenced by school requirements,” Prosper Principal Analyst Pam Goodfellow said. “That is why we are seeing many parents take their time in tackling their lists so they can take advantage of any special promotions that can help them save on items such as laptops and computers.”

      Shopping for college

      Overall results for college students were largely the same, with students and their parents saying they, too, had completed 45% of their shopping, down 3% from last year and the lowest level since the 44% reported in 2011.

      Sixty-one percent of those surveyed said they still needed to purchase school supplies, followed by clothing (51%) and shoes (33%).

      The survey, which asked 7,248 consumers about both back-to-school and back-to-college shopping plans, was conducted August 1-9 and has a margin of error of plus or minus 1.2 percentage points.

      Even though a lot of kids are already back in the classroom, the annual survey conducted for the National Retail Federation (NRF) by Prosper Insights & Ana...

      Government conducting a 'witch hunt,' court is told

      The Justice Department wants information on citizens who visited an anti-Trump website

      The U.S. government has no legal justification for seeking out the identities of people who accessed a website organizing protests for President Trump’s inauguration, Public Citizen argued in court yesterday.

      “It would set a terrifying precedent if federal prosecutors were able to obtain the names of every member of the public who visited a website devoted to protesting the president of the United States,” said Paul Alan Levy, the Public Citizen attorney representing the anonymous visitors.

      “As our anonymous clients have told the Court, the price of looking at dissenting material should not be a visit from the FBI or a call from federal prosecutors demanding to know why they visited such a site,” Levy said.

      Public Citizen represents five anonymous objectors who are seeking to intervene in an ongoing criminal case in the Superior Court of the District of Columbia. In that case, the U.S. Department of Justice is trying to enforce a search warrant against Dreamhost, the internet platform that hosts the protest website, DisruptJ20.org, to obtain information about the more than 1.3 million people who visited the website.

      "Surveillance and perhaps worse"

      The search warrant was filed as part of a criminal prosecution against the 230 people arrested during the counter-inaugural actions on Jan. 20. 

      Some of the anonymous objectors represented by Public Citizen visited the site in connection with their political activism, while others visited in the course of writing articles in a journalistic capacity.

      One visitor to the site who has chosen to reveal his identity was Robert Weissman, president of Public Citizen. Weissman said he visited the site to determine whether it would be an appropriate event to attend with his children.

      “The government has no business monitoring whether I visit websites critical of President Trump, and no business keeping tabs on the more than one million people like me who accessed DisruptJ20.org,” Weissman said. “If this warrant is enforced, many citizens will fear, with justification, that protesting – even seeking information related to political dissent – invites government surveillance and perhaps worse.”

      In its filing, Public Citizen argues that the First Amendment protects the right to speak and read anonymously and that prosecutors have no legal basis for discovering the identities of those who accessed DisruptJ20.org.

      A hearing on the government’s motion is set for 10 am EDT Thursday, Aug. 24.

      The U.S. government has no legal justification for seeking out the identities of people who accessed a website organizing protests for President Trump’s in...

      Interior water leaks can be a homeowner's nightmare

      And it's most likely to happen when no one is home

      How about this for a nightmare scenario?

      A family leaves on a long anticipated two-week vacation. A few days later a fixture in their home develops a water leak.

      Maybe it's the kitchen faucet, a failing water heater, or a break in the hose connecting the washing machine. Whatever the source, the family returns from their vacation to find thousands of dollars in damage to their waterlogged home.

      A survey by Chubb finds homeowners, for the most part, are oblivious to potential water damage from inside the home, despite the fact that water damage is more common than either fire or theft.

      "The time between when a leak occurs and when it is discovered is the single greatest factor in determining the amount of damage," said Fran O'Brien, division president of Chubb North America Personal Risk Services. "As a result, leaks that occur while you're away result in greater amounts of damage, in terms of both cost and severity."

      Frequency has nearly doubled

      And it seems to be happening a lot more lately. In the last decade, Chubb says the frequency of interior pipe breaks has nearly doubled. Making matters worse, August seems to be the month when a water break is most likely to occur -- precisely the time that many people are away on vacation.

      Besides never leaving home, there are preventive steps homeowners can take to minimize the risk of interior water damage. A first step is to inspect your home's most vulnerable components.

      It starts with your water heater. Over time, connections degrade and may fail. Look for signs of leakage and corrosion around the connections for both cold and hot water. The average lifespan of a water heater is 10 years, so if your appliance is older than that, it may bear careful watching.

      Washing machine hoses

      Another danger point is where your washing machine connects to hot and cold water supplies. These are usually hoses that are constantly filled with water pressure, except when the appliance is running. Over time, the hoses may develop weak points from the constant pressure and break. Hoses should be replaced on a regular basis -- some manufacturers recommend every five years.

      Kitchen and bathroom faucets are also connected to the water supply with hoses. In most cases, those hoses are inside of cabinets and are out of sight, so they need to be inspected on a regular basis and replaced periodically.

      If you suffer interior water damage from a broken water connection, your homeowners insurance may or may not cover it. The Texas Department of Insurance recommends reviewing your insurance policy to see what's covered. It says homeowners may be able to add coverage for sudden and accidental water damage from a plumbing, heating, or air conditioning system, as well as sewer backups and mold remediation.

      How about this for a nightmare scenario?A family leaves on a long anticipated two-week vacation. A few days later a fixture in their home develops a wa...

      IRS warns of the increasing popularity of W-2 scams

      The number of victims who fell for the ploy quadrupled from 2016 to 2017

      Much like your everyday consumer, businesses, governments, and educational institutions have to constantly be on the lookout for scammers. Unfortunately, a recent report by the IRS shows that many of these larger entities are still falling victim to certain scams called business email compromises, or BECs.

      The agency says that one particular BEC called the W-2 scam has become much more prevalent over the past year, and that it has compromised the personal information of many consumers.

      “In 2017, the IRS saw the number of businesses, public schools, universities, tribal governments and nonprofits victimized by the W-2 scam increase to 200 from 50 in 2016,” the agency said. “Those 200 victims translated into several hundred thousand employees whose sensitive data was stolen.”

      Targeting sensitive information

      BECs occur when a scammer or cybercriminal sends an official-looking spoof email to a victim while pretending to be another company, organization, or high-ranking executive. IRS Commissioner John Koskinen says that scammers often target tax professionals or employees with access to sensitive information in order to get the most information possible.

      In the W-2 scam iteration, the scammer will generally ask an employee or professional to send a list of all company employees with their W-2 forms. Unfortunate victims who comply with the request sometimes have no idea that they’ve handed over extremely sensitive information to an outside party, including employee names, addresses, Social Security numbers, and income and withholding data. With the information, scammers can then file false tax returns to the federal government and cause major problems for victims.

      The IRS says that it first warned businesses of the scam during the 2016 filing season and provided information on how to avoid it. Nevertheless, the number of victims quadrupled by 2017. Officials say that those who fall victim to the scam need to act right away to prevent the most damage.

      “If the business or organization victimized by these attacks notifies the IRS, the IRS can take steps to help prevent employees from being victims of tax-related identity theft. However, because of the nature of these scams, many businesses and organizations did not realize for days, weeks or months that they had been scammed,” the agency said.

      What to do

      In its release, the IRS urges tax professionals and businesses to stay vigilant against BECs and recommends taking the following steps:

      • Confirm requests for Forms W-2, wire transfers, or any sensitive data exchanges verbally, using previously-known telephone numbers, not telephone numbers listed in the email.
      • Verify requests for location changes in vendor payments and require a secondary sign-off by company personnel.
      • Educate employees about this scam, particularly those with access to sensitive data such as W-2s or with authorization to make wire transfers.

      The agency says that businesses should also consult with an IT professional and follow these FBI recommended safeguards:

      • Create intrusion detection system rules that flag e-mails with extensions that are similar to company email. For example, legitimate e-mail of abc_company.com would flag fraudulent email of abc-company.com.
      • Create an email rule to flag email communications where the “reply” email address is different from the “from” email address shown.
      • Color code virtual correspondence so emails from employee/internal accounts are one color and emails from non-employee/external accounts are another.
      • If a BEC incident occurs, notify the IRS and file a report with the FBI IC3.

      Much like your everyday consumer, businesses, governments, and educational institutions have to constantly be on the lookout for scammers. Unfortunately, a...

      Why more kids could soon be diagnosed with high blood pressure

      AAP releases new guidelines for diagnosing and treating high blood pressure in kids

      Cases of high blood pressure in kids are likely to become more common under new guidelines from the American Academy of Pediatrics (AAP) -- and that’s a good thing, the academy contends.

      Abnormally high blood pressure affects about 3.5 percent of children and teens, but it often goes unnoticed and untreated, the AAP said in a recent report.

      "If there is diagnosis of hypertension, there are many ways we can treat it," said Dr. David Kaelber, co-chair of the AAP subcommittee on screening and management of high blood pressure in children. "But because the symptoms are silent, the condition is often overlooked."

      Can lead to bigger problems

      Left untreated, high blood pressure (hypertension) can lead to heart and kidney problems down the line, the guideline authors noted.  

      Previously, tables used for diagnosing pediatric hypertension included blood pressure measurements for children and teens who are overweight or obese (a condition known to raise blood pressure).

      Under the new guidelines, kids will have their blood pressure measured against normal-weight children, thereby lowering the blood pressure value considered to be ideal.

      Early detection tool

      While the change will likely cause an increase in the number of children categorized as needing treatment, the updated guidelines could help kids grow up to become healthier adults than they otherwise would have been.

      "Prevention and early detection are key," said Dr. Joseph Flynn, who co-chaired the subcommittee alongside Kaelber. "High blood pressure levels tend to carry into adulthood, raising the risks for cardiovascular disease and other problems.”

      “By catching the condition early, we are able to work with the family to manage it, whether that's through lifestyle changes, medication, or a combination of treatments,” Flynn said.

      Per the new guidelines, doctors should prescribe medication to lower kids’ blood pressure if lifestyle changes aren’t successful at reducing blood pressure, or if the patient has another condition, such as kidney disease or diabetes.

      "These guidelines offer a renewed opportunity for pediatricians to identify and address this important -- and often unrecognized -- chronic disease in our patients," Kaelber said. "The easy part was developing the new guidelines. Now we begin the harder work of implementing them to help children and adolescents."

      Cases of high blood pressure in kids are likely to become more common under new guidelines from the American Academy of Pediatrics (AAP) -- and that’s a go...

      8 safe cars for inexperienced young drivers

      The best new cars for teens, according to U.S. News & World Report

      In light of a recent study showing that teens become riskier drivers as they get older, parents may want to know which cars are the safest for teens.

      Encouraging safe driving habits is essential, but having a vehicle that comes loaded with advanced safety features and driver-assistance technologies can also help prevent young drivers from getting into an accident.

      To help parents in their search for the safest set of wheels, U.S. News & World Report released its list of the Best New Cars for Teens.

      Best new cars for teens

      The following eight 2017 models were chosen by the publisher for their outstanding combination of reliability, crash protection, accident avoidance features, and critic recommendations.

      In the car category:

      • Toyota Corolla
      • Chevrolet Cruze
      • Hyundai Elantra
      • Chevrolet Malibu
      • Toyota Avalon

      In the SUVs and Crossovers category:

      • Honda CR-V
      • Subaru Outback
      • Kia Sorento

      All of the vehicles named above come with forward collision warning and automatic braking, which can slow or stop the car if a crash is seemingly imminent. The above models also have lane departure warning, which can help make sure your child stays in their own lane.

      Tracking technology

      The vehicles chosen have features that can help to ease parents’ worries while their child is behind the wheel, says Jamie Page Deaton, managing editor of U.S. News Best Cars.

      "We selected cars with top-of-the-line safety features, including accident prevention and crash protection technologies, as well as features that allow parents to track their new drivers,” Deaton said.

      Instead of wondering if your teen is driving safely, several vehicles come equipped with features that enable you to see how your teen is driving in real-time. The Hyundai Elantra and Kia Sorento both have apps that send parents an alert when a car goes over a set speed, outside a set geographic area, or is driven after a certain time of day.

      Other vehicles bring you up to speed on your child’s driving habits with a report card. The Chevrolet Malibu and Chevrolet Cruze have a Teen Driver system that gives parents a report card on their teen's driving behavior.

      In light of a recent study showing that teens become riskier drivers as they get older, parents may want to know which cars are the safest for teens.En...

      One in three consumers unknowingly enrolled in auto pay

      CreditCards.com survey shows the importance of reading the fine print

      Automatic payments can be convenient. You don't have to think about it. The money comes out of your account each month, on time.

      That's fine if you know it's happening and have planned for it. And, more importantly, have agreed to it.

      But in more cases than you might think, consumers get signed up for auto pay programs without their knowledge. According to a survey by CreditCards.com, it's happened to 35% of consumers.

      It mostly happens when you sign up for a service that carries a recurring charge, like a cellphone or gym membership. In the paperwork process, you most likely listed your bank or credit card information. To your surprise, the payment is automatically withdrawn.

      The CreditCards.com survey also suggests that when consumers discover they've been enrolled in auto pay, they aren't happy. Only 11% decide to keep the auto pay turned on while the rest take action to turn it off.

      Fewer than half say its easy to turn off

      And turning it off isn't always easy, the survey found. Fewer than half -- 47% -- said it was easy to go back to manual payment.

      One problem with being unknowingly enrolled in auto pay is consumers also end up continuing to pay for a subscription or service they thought they had ended.

      “Bottom line, it’s important to read the fine print when you’re signing up for a new subscription or service,” said Matt Schulz, CreditCards.com’s senior industry analyst. “Unplanned recurring payments can wreak havoc on your budget and your bank accounts.”

      Free trial

      One source of surprise auto pay enrollments is the free trial. A consumer is offered a service for a short time at no charge, but is enrolled in an ongoing subscription unless they cancel within a specified time. In the past, some companies offering free trials went out of their way to make it difficult to cancel.

      In nearly every case, the company offering the free trial obtains payment information from the consumer, which should serve as a tip-off that a surprise enrollment in an auto pay plan is a distinct possibility.

      That, of course, falls under the definition of negative option -- meaning the seller has assumed a sale unless the consumer takes action, exercising the "negative option," ending the sale. This was a significant problem in the early 2000s and CreditCards.com says the regulation dealing with it is now largely ineffective.

      “The negative option rule … has to do with old ‘book-of-the-month club’ issues and a very specific type of negative option that we normally don’t see anymore,” said James Kohm, director of the Federal Trade Commission's (FTC) enforcement division.

      The best way to avoid auto pay surprises is to read contract language carefully when you sign up for a subscription service and limit business dealings to well-known and reputable companies.

      Automatic payments can be convenient. You don't have to think about it. The money comes out of your account each month, on time.That's fine if you know...