Current Events in September 2018

On Wednesday, Amazon announced that it is expanding its Whole Foods grocery delivery service to 10 more cities.

Prime Now is now available in Charlotte, North Carolina; Las Vegas; Memphis, Tennessee; Nashville, Tennessee; New Orleans; Oklahoma City; Phoenix; Raleigh, North Carolina; Seattle and Tucson, Arizona.

The addition of ten new cities brings the total number of cities with the service to 38.

Amazon has also expanded its Whole Foods grocery delivery option to more neighborhoods in three existing markets: New York, L.A. and Dallas/Fort Worth.

“Prime Now delivery continues to be a hit with our customers and we’re excited to introduce the service in ten new cities plus more areas of New York, Los Angeles and Dallas/Ft. Worth,” said Christina Minardi, Whole Foods Market executive vice president of operations.

“It’s just another way we’re making it even easier for more customers to enjoy Whole Foods Market’s healthy and organic food,” Minardi said in a statement.

Shoppers can use www.primenow.com or the Amazon Prime Now App on any smartphone to order groceries. Customers can also use their Echo device to order groceries using the command, “Alexa, shop Whole Foods.”

The free two-hour delivery service is available every day from 8 a.m. to 10 p.m. for Prime members.

In May 2014, the European Court of Justice implemented the “right to be forgotten” rule for internet users, allowing consumers to request that any information about themselves be de-listed from search results.

Four years later, the ruling has resurfaced as Google finds itself in a battle with France’s data protection agency -- the Commission nationale de l'informatique et des libertés (CNIL). CNIL is arguing that the right to be forgotten rule be expanded to cover more than just the European Union; it says the rule should give users the option to have things de-listed from search engines globally.

While CNIL acknowledged that Google does delete some search results from Europeans when requested, the main issue is that the results aren’t deleted everywhere. According to CNIL’s complaint, some non-EU versions of Google still displayed the de-listed information.

A censorship issue

At a hearing in front of 15 European Union judges, Google was strong in its stance that expanding the right to be forgotten rule would in fact infringe on some users’ freedom of expression.

Other media outlets -- including Reuters, The New York Times, Buzzfeed, and several nonprofit organizations -- agree with Google’s stance that expanding the current rule would be censorship.

“This case could see the right to be forgotten threatening global free speech,” said Thomas Hughes, the executive director of the freedom-of-expression group Article 19. “European data regulators should not be allowed to decide what internet users around the world find when they use a search engine.”

“The [Court of Justice of the European Union] must limit the scope of the right to be forgotten in order to protect the right of internet users around the world to access information online,” Hughes said.

What’s been removed

Earlier this year, Google provided an update on its efforts in the last four years since the right to be forgotten rule was put into effect.

Google reported it made good on requests covering 2.4 million URLs.

In a February report, Google noted that deciding what to de-list can become problematic, and those that have been deleted thus far comprise only 43.3 percent of requests.

“Search engines like Google must consider if the information in question is ‘inaccurate, inadequate, irrelevant or excessive’—and whether there is a public interest in the information remaining available in search results,” said Michee Smith, Google’s product lead on the project.

In the four years since right to be forgotten was enacted, the main request from consumers is tied to social media and directory services containing personal information. The second highest request is linked to news outlets and government websites.

If you're renting, you're seeing your rent rise at a record pace. If you're buying a home, chances are the mortgage payment is stretching you to the limit.

That's the takeaway from two new housing reports that underscore the high cost of putting a roof over your head.

A monthly survey by Yardi Matrix tracks rents in multifamily buildings, such as apartment buildings. In August, the average rent rose by $2 over July, which was already at a record high.

The average rent in August was $1,412 a month, a 3 percent increase over the last 12 months. Rent rose the most in Orlando, Las Vegas, California's Inland Empire, Phoenix, and Tampa. On a regional basis, metro areas in the South and West occupied the nine top spots in the ranking of fastest-growing rent.

Rising home prices and interest rates

The news isn't any better for people purchasing homes. A new report from Zillow says the combination of rising home prices and higher mortgage rates is squeezing more would-be buyers out of the market.

A monthly mortgage payment for the typical home takes 17.5 percent of the median income, up from 15.4 percent a year earlier. In the least affordable market, San Jose, Calif., the average house payment requires 53.5 percent of the median income, up from an average of 36.1 percent between 1985 and 2000.

Mortgage rates are rising because the economy is getting stronger. Home prices are rising because there is a shortage of homes for sale.

Needless to say, the burden isn't shared equally. Mortgage payments are nearly twice as big of a financial drain for the lowest income homebuyers compared with the highest-income buyers.

Rates are the game-changer

Zillow Senior Economist Aaron Terrazas says the biggest change has been the interest rate environment. For years, while home prices rose mortgage rates stayed at historic lows. Now that rates are rising, so are mortgage payments.

"Low mortgage rates have kept first-time homeownership and move-up homes within reach for many Americans, even as home values have soared to new heights," Terrazas said. "While mortgage rates remain low by historic standards, they are creeping upward, eating into what buyers can pay, and in a handful of pricey markets, affordability already looks unnervingly low.”

The Zillow report also confirms the findings of the Yardi Matrix survey, showing the typical rent now requires an increasing amount of the median income. Although rent affordability remains worse today than it was in the 1980s and 1990s, Zillow says it has gradually improved after peaking in late 2010.

If it seems you're seeing more Help Wanted ads these days, it's not your imagination. There has never been a better time to be looking for a job.

The Bureau of Labor Statistics (BLS) reports that job openings reached a new high of 6.9 million at the end of July. Economists say the monthly Job Openings and Labor Turnover Survey (JOLTS) suggests businesses are having difficulty finding the workers they need.

Until very recently, the tightening labor market hadn't resulted in bigger paycheck. But in August, the BLS reported average hourly incomes rose at a 12-month rate of 2.9, among the strongest since the financial crisis. At some point, wages will have to rise as employers compete for fewer workers.

Strongest outlook on record

Amid this tighter labor market, a new report from The Manpower Group shows U.S. Employers plan to add to their staffs in the next three months. It's the strongest average annual outlook in the last decade with more than 19 percent anticipating growth of their payrolls.

"August marked the 95th month in a row for job growth in the U.S. and we anticipate we'll hit 99 months by the end of the year as the fourth quarter outlook has more good news for American jobseekers and businesses," said Becky Frankiewicz, President of ManpowerGroup North America.

As the world observes the 10th anniversary of the financial crisis this week, Frankiewicz says the labor market is finally getting back to where it was before Lehman Brothers declared bankruptcy and the economy nearly collapsed. While the economy is growing again, Frankiewicz says a lot of change has occurred in the last 10 years.

Big changes in the last decade

"Manufacturing is more advanced, retail has gone online, and employers in professional roles need a new combination of digital and soft skills,” she said. “These are not the low-skilled jobs of the past, they are highly skilled technical roles of the future. In this competitive labor market, there is no better time for employers to help people upskill and develop in their careers.”

According to The Manpower Group's fourth quarter outlook, jobs in the leisure and hospitality sector will grow at the fastest rate – 28 percent. Professional and business services will remain robust with a 25 percent growth rate with transportation and utilities close behind at 24 percent.

Gravel Ridge Farms is recalling Cage Free Large Eggs that may be contaminated with Salmonella.

Reported illnesses have been confirmed at locations using Gravel Ridge Farm Eggs.

The following product is being recalled:

The recalled product was sold between June 25, 2018, and September 6, 2018, in restaurants and retail stores in Alabama, Georgia and Tennessee.

What to do

Customers who purchased the recalled product may return them to the store for a refund or discard them immediately.

Consumers with questions may call Dustin Smith at (205) 363-1105 Monday – Friday from 8AM – 4PM (CT).

Volvo Car USA is recalling 71 model year 2019 Volvo XC40s.

The brake pedals may not have been riveted correctly, allowing the pedal to move out of position, possibly reducing braking performance.

Reduced braking performance can increase the risk of a crash.

What to do

Volvo has notified owners advising them to stop driving their vehicles. Cars will be inspected on-site or towed to dealers and the brake pedals will be replaced as necessary, free of charge.

Volvo began contacting their owners on August 23, 2018.

Owners may contact Volvo customer service at 1-800-458-1552. Volvo's number for this recall is R59899.

On Monday, California Governor Jerry Brown signed an executive order announcing the goal of phasing out all emissions in his state within 27 years. He also signed a clean energy bill, SB 100, which established the goal of making the state's electricity 100-percent emissions-free by 2045.

Hawaii is the only other U.S. state to make such a pledge. Environmental activists are calling the move “significant,” since California is the world’s fifth-largest economy.

"It's impossible to overstate how significant it is for a state as large and influential as California to commit to 100 percent clean energy," the Sierra Club said in a statement.

Aiming for zero carbon emissions

Brown said the law sends a clear message that California supports the 2015 Paris agreement to combat climate change. Last year, the U.S. became the only country to exit from the accord after President Trump expressed concerns that it would hurt the U.S. economy.

“This bill and the executive order put California on a path to meet the goals of Paris and beyond. It will not be easy. It will not be immediate. But it must be done,” Brown said at a signing ceremony in Sacramento. “California is committed to doing whatever is necessary to meet the existential threat of climate change.”

Currently, California relies primarily on natural gas for most of its electricity. SB 100 requires utilities to source 60 percent (up from a prior goal of 50 percent) of their power from renewable energy by the end of 2030. All of the state's electricity must come from carbon-free sources by 2045.

"The achievement of carbon neutrality will require both significant reductions in carbon pollution and removal of carbon dioxide from the atmosphere, including sequestration in forests, soils, and other natural landscapes," Brown's executive order states.

The state’s largest utilities do not support the measure. Utility Pacific Gas & Electric said the law could result in a price hike for customers. "If it's not affordable, it's not sustainable," utility spokeswoman Lynsey Paulo told Reuters.

According to the judge of the damages case brought by investors against Volkswagen, former CEO Martin Winterkorn was slow to address the company’s emissions cheating scandal.

Investors are looking for 9.2 billion euros ($10.6 billion) in damages from the suit to make up for the share prices they lost when the scandal became public. The final outcome of the suit will come down to who was privy to information -- and when.

The scandal broke on September 18, 2015 when the Environmental Protection Agency (EPA) issued a notice of violation. The investors are accusing Volkswagen of not disclosing this information with them -- specifically how much money was involved.

Now, Judge Christian Jaede reported that Winterkorn was certainly aware of the breadth of the scandal. According to Jaede, Volkswagen was on the verge of getting banned by United States regulators because of high pollution levels. Following a meeting with VW higher-ups that took place two months prior, Winterkorn dragged his feet on the issue.

“Anyone acting in good faith would have followed up on this information,” Jaede said. “This appears not to have happened.”

Winterkorn resigned just days after the scandal broke, though he did say he was unaware of the scandal until Volkswagen officially announced it.

Push for the truth

In September 2015, Volkswagen admitted to equipping over 11 million of its diesel vehicles with illegal software to cheat the U.S. emissions tests. The scandal has not only cost the company billions of dollars, but it has also led to the indictment of several top executives.

In January 2017, Volkswagen settled U.S. Justice Department criminal and civil charges, shelling out $4.3 billion. The company agreed to plead guilty to three criminal felony charges and pay a $2.8 billion criminal penalty. It also paid $1.5 billion in separate civil resolutions.

All of these penalties are on top of the $15 billion VW agreed to pay owners of Volkswagens, Audis, and Porsches equipped with 2.0-liter TD Clean Diesel engines, and the $1 billion it has agreed to pay consumers with 3.0-liter diesels.

Volkswagen was charged with -- and plead guilty to:

• Participating in a conspiracy to defraud the United States and VW’s U.S. customers;

• Violating the Clean Air Act by lying and misleading the EPA and U.S. customers about whether its cars complied with U.S. emissions standards;

• Using cheating software to circumvent the U.S. testing process; and

• Concealing material facts about its cheating from U.S. regulators.

However, the scandal leaked into 2018 when Audi CEO Rupert Stadler was arrested over “concerns over potential evidence tampering” in the diesel-emissions cheating case. Stadler’s home was raided by authorities one week before the arrest, and he was immediately named a suspect in the investigation.

Just last month, an independent compliance auditor complained he wasn’t getting enough information out of VW. Larry Thompson, who was appointed by the U.S. Justice Department to monitor Volkswagen’s efforts to comply with the settlement charges, said that the company was relying too heavily on privacy and attorney/client privilege to withhold any information.

Subway CEO Trevor Haynes has revealed that the company will no longer require franchisees to offer $5 footlong subs on their menu.

The chain’s $5 footlong promotion, which was first introduced in the early 2000s, disappeared for several years but returned last winter after a flurry of customer complaints.

However, the discounted subs had become a source of complaints from store owners, Haynes said in an interview with USA Today. Some felt the price was too low to make a profit. To that end, Haynes is making it optional for franchises to run the $5 promotion.

Helping shops find a “regional value message”

"How do we help our franchises with more of a regional value message, so they're able to (have) a value proposition that fits with their economic model," Haynes told USA Today. "If you look at California, there's a very different cost of business than in Arkansas."

Some stores may choose to keep the $5 deal for certain sandwiches or on certain days, while others could scrap the deal and choose to move to other menu items and specials instead. In San Francisco, for example, customers can get a $3.99 6-inch sub. Other locations in California are testing new menu items like paninis.

"Affordable food is what we've always stood for," Haynes told USA Today. "It's not just about one price point."

Earlier this year, the chain announced that it would be closing 500 stores as part of a revitalization effort intended to help boost slumping sales. That plan will include an overhaul to Subway’s image.

Starting next year, franchise owners will be required to update the decor in their store. Subway plans to update its remaining stores -- which number in the tens of thousands -- with a bright, green, vegetable-inspired palate. Stores will also get self-service kiosks, more comfortable seating, and Wi-Fi and USB charging ports.

The days of getting a degree in English, History, and Chemistry are long over. According to a new BankRate study of 162 college degrees, Actuarial Science, Zoology, and Nuclear Engineering have taken over as the most valuable college majors.

Across the board, Science, Technology, Engineering, and Mathematics (STEM) programs rule the day -- and with good reason: salaries are higher and unemployment is lower.

At the top of that rung is Actuarial Science, a profession where degree holders earn more ($108,658) than their peers and have the security of lower unemployment (2.3 percent). And while having an advanced degree (masters or doctoral) is almost a necessity in other programs, only 22 percent of Actuarial Science majors hold an advanced degree, which puts that group at an advantage of getting out into the workplace sooner and carrying less student loan debt.

Increasing flexibility

The paths students follow these days are a far cry from the standard issue mom-was-a-teacher-and-you’ll-be-one-too type thinking.

“The biggest myth we see is by choosing a major you’re basically choosing the career you have for the rest of your life,” said Harry Twyman, director of The Major Experience at UConn.

“Business is a good example. A lot of students think if they want to go into the business field, they have to get a Business degree when in fact we’re seeing History graduates, English graduates and Psychology graduates go into that field.”

In contrast, today’s degrees build in flexibility and reflect more of an integral part of the way the world works.

“If these majors aren't futuristic enough for you, take a look at the growing number of "Interdisciplinary Studies" majors (a rising trend over the last 30 years) where students work with advisors to essentially create their own curriculum and major of study,” wrote Cornerstone’s Charles Coy.

“In our new world of flexible work schedules, job hopping and a growing gig economy, a uniquely personal major like Interdisciplinary Studies may be the most intuitive of all.”

Winners and losers

Business, Science, and Math degrees ruled the roost in the BankRate study, with Zoology and Nuclear Energy joining Actuarial Science as the top three most valuable college majors.

Rounding out the top five were Health & Medical Prepared programs and Applied Mathematics -- both offering six-figure incomes and a 2 percent unemployment rate.

On the other side of the ledger were Visual & Performing Arts, Cosmetology & Culinary Arts, Clinical Psychology, Composition & Speech, and Miscellaneous Fine Arts. The salaries and job security of those majors mirror their importance in the new economy, too. All offer incomes of $51,000 or less and carry an unemployment factor of 4 percent or higher.

Those who scored a job with a Fine Arts degree often end up as art teachers, music contractors, craft artists, and illustrators, according to the career matching platform Sokanu. Still, students with a creative bent shouldn’t toss that talent aside just to score a huge salary as a techie.

“Obtaining a creative arts degree, or miscellaneous arts degree or being in any sort of creative space is a terrific investment, and I would strongly advocate for it,” wrote Philip Olson, co-producer of “Two Cents,” a PBS web show.

“I would caveat that to say that if you get a degree in that space, expect to use it in a nontraditional way if you want to be successful. Don’t go get a degree in music with the expectation that you can only be a professional musician. There are so many other ways to use those skills.”

As Hurricane Florence intensifies, the National Safety Council (NSC) is urging those on the East Coast to monitor the storm’s path and heed government warnings.

Florence is expected to hit the East Coast as a Category 4 hurricane with sustained winds of 130 miles per hour later this week, according to the National Hurricane Center. The Council says those impacted by Tropical Depression Gordon need to be especially aware of potential flash flooding.

Nearly 60,000 weather events resulted in almost 600 deaths and more than 4,200 injuries, the Council said. Flash floods, tropical storms, and heat waves were the cause of most deaths.

Ahead of the impending storm, the NSC is urging families to develop emergency plans and safety kits. Emergency plans should include several methods of evacuation and places to shelter, while supply kits should contain the necessary supplies to sustain a family for at least 72 hours.

Severe weather safety tips

The Council offers the following tips for staying safe in hurricanes:

• Board up windows and tie down loose items like patio furniture.

• Establishing a meeting point for family members in the event that you become separated, and pick one person everyone can contact with their whereabouts.

• Shelter in sturdy buildings. Avoid isolated sheds or other small structures, open areas, hilltops, the beach, or boats.

• If you are driving in heavy rain, try to exit the road, stay in the car and turn on the emergency flashers.

• Don't drive into flooded areas. If flood waters surround your car, abandon the car and go to higher ground.

• Avoid touching electrical equipment, cords, metal, and water.

• Listen for sirens, stay away from windows and outside doors, and seek shelter in a bathroom or basement.

• Stay indoors until authorities say it's safe to go outside.

To stay safe during flash flooding, the NSC offers the following tips:

• Know your distance to rivers, streams, and dams.

• In heavy rain, stay away from underpasses, underground parking garages, and basements.

• Never walk in water above your ankles -- you could be swept off your feet in as little as 6 inches of rushing water.

• Shut off the electricity and other utilities.

U.S. Bank is introducing a small dollar loan product that it calls Simple Loan. It's designed to help consumers deal with those sudden and unexpected bills.

Those cash needs often send consumers to payday lenders, where critics say the borrower gets trapped in a never-ending debt cycle. That's because a payday loan has to be repaid in two weeks. If it isn't, the borrower has to take out another payday loan. And then another, paying a fee each time.

U.S. Bank says Simple Loan is a different animal. They call it transparent and easy-to-understand. But perhaps more importantly, it's an installment loan. The borrower makes payments until the loan is paid off -- the entire balance is not due in two weeks.

'Powering the potential of customers'

“As a company, we are all focused on powering the potential of our customers," said Lynn Heitman, executive vice president, U.S. Bank Consumer Banking Sales and Support. "So, every day we work to be there in the moments that matter to them the most.”

Consumers who have a U.S. Bank checking account can take out a Simple Loan of $100 to $1,000 with no hidden fees. The consumer has three months to pay back the money with three monthly payments.

The cost is $12 for every $100 borrowed if it's paid with autopay from a U.S. Bank checking account. It's $15 for every $100 if paid manually. The bank has published the complete terms on its website.

Consumer advocates have been calling for something like this for years. The Pew Charitable Trusts is among the groups welcoming the U.S. Bank move, saying it could mark the beginning of a new era of affordable installment loans from banks.

"This is the first affordable loan that will be widely available to people who would otherwise turn to payday loans and other harmful options," the group said.

Seven to eight times cheaper

By Pew's estimate, the cost of the Simple Loan is seven to eight times less than a payday loan, which is for a much shorter term.

“Simple Loan is straightforward, transparent and more affordable than many other products in the market. It meets a critical credit need for customers who might otherwise be forced to seek a loan that can carry interest charges of more than several hundred percent,” said Paul Woodruff, executive director, Prosperity Connection, and member, U.S. Bank Community Advisory Committee.

Woodruff says consumers need access to small-dollar credit. He says the U.S. Bank product is not only filling that need but “providing a pathway for customers to save money and meet their needs.”

Dubbed “stablecoins,” New York State approved two cryptocurrencies based off the United States dollar. This marks the first time a cryptocurrency has been tied to U.S. currency.

Gemini Trust Company and Paxos Trust are behind the digital currencies; these products are different than other cryptos because they’re tied to stable assets, making them more reliable to investors than other cryptocurrencies. Additionally, both are available to traded on their respective changes.

The Winklevoss twins are behind the Gemini Trust Company -- the duo that made news when they sued Mark Zuckerberg for stealing the idea for Facebook from them. The pair has been active in the crypto market as of late, and they are confident in the future of their company.

“To date, there has been no trusted and regulated digital representation of the U.S. dollar that moves in an open, decentralized manner like cryptocurrencies,” said Cameron Winklevoss. He referred to the Gemini dollar as “the world’s first regulated stablecoin.”

The currency will align with the U.S. dollar on a one-to-one basis, and the Winklevoss’ company will have United States currency matching all issued Gemini dollars at an eligible bank that the FDIC will pass through insurance.

One of the perks of the stablecoin aligning with the U.S. dollar is that currency trading will be available at all hours of the day -- unlike regular currencies that are only available during set business hours.

Positive cryptocurrency news

The decision by New York State has many in the crypto market feeling confident about the future. Additionally, the news comes at a time when the cryptocurrency market has been particularly volatile.

Earlier this week, the several digital offerings experienced a sharp drop in prices, and experts had a difficult time explaining it. Prices for Bitcoin dropped $200 in minutes, and an hour later, the price continued to drop under $7,000.

Moreover, the Securities and Exchange Commission (SEC) has been keeping the crypto market in the news as of late.

The SEC suspended two crypto-based securities -- Bitcoin Tracker One and Ether Tracker One -- because it was unclear about the nature of the the financial products, and the securities were characterized as exchange-traded funds (ETFs).

“The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above quoted company,” the SEC wrote in a statement.

The suspension comes after the SEC blocked another round of Bitcoin-backed ETFs at the end of last month. The agency was most concerned about prices and the potential for manipulation, as well as fraud the vulnerability of the crypto market.

Additionally, Bitcoin prices have been consistently up and down for the past few months.

The SEC’s decision to delay a ruling on a proposed Bitcoin ETF caused prices to drop under $6,500 -- the lowest they had been since July. Prices dropped earlier in the summer when two Texas academics released a paper that revealed 2017’s high Bitcoin prices were due to artificial market manipulation.

If your head isn't being turned by the arrival of the auto industry's latest models, you might be considering a used car or truck.

Buying a three year old vehicle gives you most of the technology available on the current models but at a much lower price. And right now, several manufacturers are offering plenty of incentives in their certified pre-owned (CPO) programs.

Being "certified" means the vehicle has been refurbished and detailed by the manufacturer, not an individual dealer. Not every used car falls into that category.

Game-changer

"The comprehensive inspection process, incentives and warranties for certified pre-owned vehicles changes the game for how car shoppers should look for their next vehicle," said Brian Moody, executive editor at Autotrader. "With cars less than a few years old back on the market, you could even end up with a certified pre-owned vehicle that's part of the 2018 model year."

Moody says there are plenty of great deals for car shoppers looking for a late model used car that is very much like a new car, except for the price. Right now BMW is offering 12 months of comprehensive warranty coverage. Throughout September, it is offering 1.99 percent financing on all certified pre-owned 2015 and 2016 i3 models for up to 24 months.

Cadillac's certified pre-owned program has a similar offer on three models -- the entry-level ATS, the popular Escalade SUV, and the SRX crossover. But you need to hurry. Through September 13, qualified buyers who select from those models in the CPO program can get 2.9 percent financing for up to 36 months.

Ford's CPO program gives buyers extra warranty coverage this month. Shoppers get seven years or 100,000 miles of powertrain coverage, in addition to an additional year of comprehensive coverage. On top of that, qualified buyers can finance their vehicles at 1.9 percent for up to 36 months, 2.9 percent for up to 60 months or 3.9 percent for up to 72 months, terms normally available only on new cars.

1.99 percent for 48 months

Mercedes-Benz is offering special financing this month on a full range of its models in the CPO program. Qualified buyers can get 1.99 percent interest for up to 48 months on most cars, including the CLA, the C-Class, the E-Class, the GLK, the GLC.

Nissan's CPO program is offering both financing incentives and an expansion of the warranty coverage. Vehicles in the CPO program come with seven years or 100,000 miles of powertrain coverage from the car's original sale date. Qualified buyers of Altima and Rogue models can finance their purchased at 2.99 percent interest for up to 60 months.

How much can you save buying a used car instead of a new one? According to Kelley Blue Book, the average transaction price for a new car is around $35,000 while the average price of a used car is just under $20,000.

Polaris Industries of Medina, Minn., is recalling about 1,000 Ranger recreational off-highway vehicles (ROVs).

The front lower control arms can separate, posing a crash hazard.

The company has received six reports of lower control arms separating. No injuries have been reported.

This recall involves model year 2018 Polaris Ranger 500, Ranger 570, Ranger EV and Ranger EV LI-ION recreational off-highway vehicles.

The Ranger 500 vehicles were sold in red and green, have “POLARIS” stamped on the front grille, “500” decals on the front fenders, and “Ranger” decals on the rear fenders.

The Ranger 570 vehicles were sold in two- and four-seat models in green, blue, and camo with “POLARIS” stamped on the front grille, “570” decals on the front fenders, and “Ranger” decals on the rear fenders.

The Ranger EV vehicles were sold in gray and camo with “POLARIS” stamped on the front grille and “Ranger” decals on the rear fenders.

The Ranger EV LI-ION vehicles were sold in camo, and have “POLARIS” stamped on the front grille and “Ranger” decals on the rear fenders.

The Vehicle Identification Number (VIN) and model number may be found on a label inside the left rear wheel well.

The ROVs, manufactured in the U.S. and Mexico, were sold at Polaris dealers nationwide from August 2017, through July 2018, for between $9,000 and $12,500.

What to do

Owners should immediately stop using the recalled ROVs and contact a Polaris dealer to schedule a free repair. Polaris is contacting all registered owners directly.

Consumers may contact Polaris at 800-765-2747 from 7 a.m. to 7 p.m. (CT) Monday through Friday or online at www.polaris.com and click on “Off Road Safety Recalls” at the bottom of the page for more information.

New York Style Sausage Co., of Sunnyvale, Calif., is recalling approximately 371 pounds of raw chorizo sausage.

The product contains sesame seed, which is not declared on the label.

There have been no confirmed reports of adverse reactions due to consumption of this product.

The following raw, Salvadoran chorizo sausage item, produced on June 8, 2018, is being recalled:

• 8-oz. cardboard packages containing “Artesana Specialty Sausages CHORIZO SALVADORAN RECIPE ALL NATURAL.” The product is labeled “Keep refrigerated or frozen” and does not bear a use by or sell by date.

The recalled product, bearing establishment number “EST. 9027” inside the USDA mark of inspection, was sold at farmers markets in California.

What to do

Customers who purchased the recalled product should not consume it, but discard it or return it to the place of purchase.

Consumers with questions about the recall may contact Pasquale Bitonti at (408) 745-7675.

Chrysler (FCA US LLC) is recalling 4,171 model year 2018-2019 RAM 1500 trucks.

The rear differential may have been insufficiently filled, possibly resulting in its failure.

Rear axle assembly failure can cause a loss of drive or the rear wheels to lock up, increasing the risk of a crash.

What to do

Chrysler will notify owners, and dealers will inspect the rear axle oil level. Rear axles with an insufficient amount of oil will be replaced, free of charge.

The recall is expected to begin October 12, 2018.

Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is U88.

The operators who defraud American consumers and businesses hardly ever face justice, mainly because they operate offshore.

But U.S. officials say they have a Russian national in custody who they accuse of carrying out one of the biggest hacks in history.

Federal officials report that Andrei Tyurin, a Russian who was accused of being a key player in a hack of JPMorgan Chase and other large companies, is now in their hands after he was extradited from the Republic of Georgia.

U.S. officials charge that Tyurin has been the mastermind behind a number of high-profile cyber attacks against U.S. financial firms while also engaging in credit card fraud and money laundering.

Single biggest hack

“Tyurin’s alleged hacking activities were so prolific they lay claim to the largest theft of U.S. customer data from a single financial institution in history, accounting for a staggering 80 million-plus victims," said Manhattan U.S. Attorney Geoffrey Berman. "As Americans increasingly turn to online banking, theft of online personal information can cause devastating effects on their financial well being, sometimes taking years to recover."

Berman and other law enforcement officials who have had their sights on Tyurin for years, call his extradition a significant milestone. In most cases, they have been powerless to apprehend people outside the U.S. who are scamming consumers.

Tyurin appeared in court in Manhattan with his attorney and entered a not guilty plea to charges conspiracy, computer hacking, identity theft, and wire fraud.

Could cut a deal

Legal experts say Tyurin may be in a good position to cut a deal with prosecutors since he most likely has a lot of information about others who are involved in international hacking and scams. It's not unreasonable to think his knowledge could be useful to prosecutors who are conducting investigations into a number of different areas, including interference in the 2016 presidential election.

The case at hand centers on the 2014 JP Morgan hack, which investigators said appeared to center on alleged efforts to manipulate stock prices. JP Morgan security personnel brought these concerns to public attention, fearing they might be part of an intrusion by Russian intelligence agents.

U.S. officials accuse Tyurin of working with other hackers in a coordinated attack on financial services firms' networks. Officials say they believe the hackers were able to gather sensitive information on more than 100 million people who were the firms' clients.

Prosecutors allege that stolen information was used in wide-ranging schemes, from stock manipulation to bitcoin money laundering.