Current Events in February 2020

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2020

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    Ring adds more security features following data breach

    Users will need to enable two-factor authentication to use the service

    Users of the Ring video doorbell are likely seeing a new update from the company that seeks to update and improve the device’s security. 

    The company announced this week that it was adding more security measures to users’ accounts to ensure that they stay protected from hackers and other malicious actors. The move follows a massive breach that allowed hackers to steal sensitive information and control the devices of more than 3,600 device owners. 

    “At Ring, our mission is to make neighborhoods safer and we strive to give our customers the peace of mind that comes from knowing their homes are more secure. Delivering you privacy, security and control are foundational to achieving our mission,” the company stated. 

    “That’s why we’re listening to what you, our customers, are saying and taking additional steps to help you feel confident that your home and personal information are safe when you use our products.”

    Mandatory two-factor authentication

    Under its new privacy stance, the company is requiring all users to enable two-factor authentication. It says the new level of security will be required when users log in to their accounts and will help verify that hackers haven’t improperly gained access. 

    The process works much like any other two-factor authentication system. When users attempt to log in to their device, a six-digit code will be sent to their phone or another device that will be needed to gain access. 

    Additionally, the company says it will be keeping another new security feature implemented in December that alerts users every time someone tries to log in to their account. The idea is that users will quickly be able to recognize if someone is targeting their Ring account so that the issue can be resolved and reported quickly.

    Security recommendations

    In its announcement, Ring also provided a list of best security practices that it says will help keep users’ accounts secure. The list follows:

    • Don’t reuse passwords between your various online accounts – instead, generate unique, strong passwords for each account.

    • Keep your phone numbers and email addresses up to date on your various online accounts.

    • Add a PIN or passcode to your smartphone account to help prevent unauthorized changes to your mobile account. You can do this by logging into your mobile phone account or calling your wireless carrier.

    • Upgrade to the latest version of your apps and operating systems, including the latest Ring apps.

    • View and manage your trusted devices in your “Authorized Client Devices” section of Control Center on your Ring app.

    • Add Shared Users to your Ring account instead of sharing your login credentials. You can also view and manage Shared Users in Control Center.

    Users of the Ring video doorbell are likely seeing a new update from the company that seeks to update and improve the device’s security. The company an...

    Blendtopia Products recalls frozen smoothie kits

    The products may be contaminated with Listeria monocytogenes

    Blendtopia Products is recalling 29,078 cases of 7-oz. frozen Blendtopia brand Superfood Smoothie Kits.

    The products may be contaminated with Listeria monocytogenes.

    There are no reports of illness to date.

    The recalled smoothie blends include: Blendtopia brand “Glow”, “Detox”, “Energy”, “Immunity” and “Strength” Superfood Smoothie Kits, “Best By July 2021, Best By Oct 2021, and Best By Nov 2021.”

    The recalled product was sold at select retailers nationwide and through online sales.

    What to do

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

    Consumers with questions may contact the company at (844) 260-8181 Monday – Friday, 9am – 5pm (MT) or by email at support@blendtopia.com

    Blendtopia Products is recalling 29,078 cases of 7-oz. frozen Blendtopia brand Superfood Smoothie Kits. The products may be contaminated with Listeria m...

    Americans are leaving billions on the table in unused gift cards

    Use or redeem them for credit on your credit card statement says one industry analyst

    If you haven’t used any of the gift cards you got over the holidays, you’re not alone -- a new survey says Americans have more than $20 billion in unredeemed gift cards, store credits, and airline vouchers.

    What’s sadder is that 25 percent of U.S. adults have let a gift card expire completely, and almost as many lost theirs. That’s nearly $10 billion left on the table.  

    “Gift cards and store credits are real money, so treat them as such,” says Ted Rossman, industry analyst at Bankrate, the company that fielded the survey.

    Why don’t consumers use their gift cards?

    If you have a gift card sitting around unused, you might be a millennial. The survey found that demographic has the highest rate of unused gift cards.

    However, you might also be someone who makes a decent living. Bankrate found that the higher a person’s income, the more likely they are to let a gift card expire. Nearly 20 percent of those making under $40,000 annually have let a gift card expire compared to 28 percent of those with incomes between $40,000 and $80,000 and 32 percent of those making $80,000 or more per year.

    Maybe it’s the value of the cards. While American consumers are sitting on an average of $167 in unused gift cards and credits, the study found that more consumers tended to not use a gift card if it had a lower value attached to it. All told, 36 percent of Americans estimated the total value of their unused gift cards and store credits to be between $1 and $49.

    Use ‘em or lose ‘em

    Bankrate warns consumers that the life of a gift card is not infinite. 

    “The clock is ticking for those who plan to use their gift cards or credits at some point,” Bankrate wrote. “According to the 2009 CARD Act, an issuer can charge a monthly inactivity fee (pulled from your card’s balance) on gift cards that have gone unused for a year or more. You do, though, have five years from activation until your gift card can legally expire.”

    If consumers aren’t sure if there’s any value actually left on the card, Bankrate suggests contacting the issuer of the card or checking the card’s balance online at sites like Gift Card Granny.

    And if you simply don’t want the gift card, Rossman says unwanted gift cards can be sold at sites such as Cardpool.com, CardCash.com and GiftCardSpread.com

    Unused reward points have value, too. Rossman reminds consumers that they don’t have to actually get a product with their rewards points, but some credit card providers will allow users to redeem rewards for statement credit. 

    If you haven’t used any of the gift cards you got over the holidays, you’re not alone -- a new survey says Americans have more than $20 billion in unredeem...

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      Restaurants must evolve beyond food to win over customers, report finds

      There’s a lot to gain and a lot to lose, but good service and cleanliness always win

      With all that’s going on in the restaurant world -- the chicken sandwich wars, which restaurants deliver and which don’t, and the rash of restaurant chains going belly-up -- consumers are changing what they eat, where they eat, and how they eat at an astonishing rate according to a new survey.

      To provide some clarity on the state of the industry, Service Channel has just released its State of the Restaurant survey. It found that winning in the restaurant business isn’t just about food anymore. Here are the four biggest takeaways from today’s demanding diners.

      Restaurants can always improve service and cleanliness

      An impressive 70 percent of consumers think today’s restaurants provide a great experience, and another 62 percent think restaurants know what customers want from a dining experience. 

      “While these are great numbers, we also found there is lots of room for improvement,” the report stated. “One in every four consumers still want restaurants to improve on cleanliness or service. Cleanliness also helps ensure repeat customers: clean tables and eating areas were the most cited as the most important factors in getting diners to return to your restaurant.”

      With more and more people turning to reviews to help their decision-making process, service and cleanliness weigh heavily in what restaurant they pick. The survey said a substantial 75 percent of consumers will skip restaurants that have negative reviews about cleanliness. 

      Restaurants should be courting millennials 

      The report suggests that U.S. restaurants should be trying to entice younger consumers by ensuring that they have a great experience. 

      “We found that millennials eat out more than any other age group,” the report stated. “We also found millennials are the most likely to post on social media and tell a friend when they have a bad experience in a restaurant.”

      The fact that millennials allocate the highest percentage of their income to food and beverage is another reason why the demographic can’t be taken for granted.

      Consumers expect a lot and have a low tolerance for mediocrity 

      A restaurant’s most valuable customers have higher expectations and a lower tolerance for bad experiences. The majority of diners who have a bad experience at a particular restaurant said they would not go back to that establishment. 

      That metric is especially true for diners 40 and older, with 83 percent of them saying they are more likely to dine at a competitor if they have a bad experience.

      Tech expectations are high

      Tech expectations are especially high for coffee shops. The survey found that 30 percent of consumers reward restaurants that have Wi-Fi or mobile ordering with repeat business. 

      Coffee shops have the most to gain from tech add-ons. The coffee shop category was a $45 billion market in 2018 thanks to nearly 15,000 Starbucks and 10,000 Dunkin’ stores. And that trend will continue to grow thanks to becoming the de facto mobile offices of a mushrooming remote workforce.

      With all that’s going on in the restaurant world -- the chicken sandwich wars, which restaurants deliver and which don’t, and the rash of restaurant chains...

      SpaceX puts another 60 communications satellites in orbit

      Elon Musk’s company plans to launch thousands of satellites to provide global wireless internet service

      Elon Musk’s dream of a global wireless network took another step forward on Monday as his company, SpaceX, launched another 60 communications satellites into earth orbit.

      The launch at Cape Canaveral included a completely successful lift-off after a problem with a valve component on the rocket’s second stage delayed the fireworks for 24 hours. The satellites were carried into orbit aboard a Falcon 9 rocket, a reusable vehicle that has carried objects into orbit on four previous occasions. 

      Musk, known for his ability to multitask, is in the process of attempting to build out a global, high-speed, satellite-based wireless network called "Starlink." 

      The Federal Communications Commission (FCC) greenlighted the company’s request in 2018 -- along with proposals for three other space companies -- to "operate a new very-low-earth orbit constellation of more than 7,000 satellites using V-band frequencies."

      Customers using small antennas would then be able to connect with the satellites for high-speed fixed and mobile broadband internet service. Theoretically, such a system could provide high-speed access to just about any spot on the globe.

      A lot more satellites to be launched

      But there is still a lot of work to be done. Musk’s system will require more than 4,400 satellites to launch the initial phase and will eventually involve 12,000 satellites orbiting the earth. After Monday’s launch, the system has 300 satellites in orbit.

      The system, if eventually functional, could be used to provide connectivity to wide sections of rural America, as well as other underserved regions of the world.

      In its authorization, the FCC allowed SpaceX to “construct, deploy, and operate” a new constellation of satellites using V-band frequencies. The agency also granted SpaceX’s request to add the 37.5-42.0 GHz, and 47.2-50.2 GHz frequency bands to its previously authorized NGSO constellation. 

      In doing so, the agency said it was giving SpaceX additional flexibility to provide both diverse geographic coverage and the capacity to “support a wide range of broadband and communications services for residential, commercial, institutional, governmental, and professional users in the United States and globally.”

      Elon Musk’s dream of a global wireless network took another step forward on Monday as his company, SpaceX, launched another 60 communications satellites in...

      Risk of melanoma isn't only high in sunny, coastal states

      Consumers may be surprised to find that the condition is common in several landlocked states

      A new study conducted by researchers from the American Cancer Society went state-by-state to identify where the risk for melanoma is the highest based on residents’ exposure to ultraviolet (UV) radiation. 

      Some of the findings may come as a surprise, as consumers in a number of landlocked states were near the top of the list in terms of the highest risk. 

      “Considerable proportions and incidence rates of melanoma attributable to UV radiation in all states underscores the need for broad implementation or enforcement of preventative measures across states, with priority for states with higher burden,” the researchers explained.

      What states have the highest risk?

      The researchers analyzed melanoma and UV radiation data across several different time periods in Connecticut as a baseline to determine how UV radiation is currently affecting consumers across the United States. This specific dataset was chosen because Connecticut has a typically low UV exposure, and it was the first state to implement a cancer registry. 

      The study revealed that Alaska came in at the bottom in terms of risk, with 15.1 cases of melanoma diagnosed for every 100,000 people. On the opposite end of the spectrum was Hawaii, with 65 cases of melanoma for every 100,000 people. 

      While these findings may be expected, the researchers also found a number of landlocked states have a higher risk for melanoma. Minnesota neared the top of the list, with nearly 28 cases of melanoma per 100,000 people. Kentucky and Colorado also placed highly on the list, with an incidence rate of just over 25 and 24, respectively.

      The researchers explained that this is likely because outdoor activities are common in these locations. As expected, the melanoma risk for coastal states was rather high, as Delaware, Georgia, California, and Maryland all had incidence rates above 30; North Carolina, Florida, Oregon, and South Carolina and several others weren’t far behind. 

      Protecting against melanoma

      Researcher Dr. Farhad Islami pointed out that the “prevalence” and convenience of indoor tanning, particularly among young people, is one of the biggest risk factors for melanoma. 

      These findings emphasize the importance of consumers protecting their skin when spending any time in the sun, regardless of where they live, as many strands of melanoma are entirely preventable. 

      A new study conducted by researchers from the American Cancer Society went state-by-state to identify where the risk for melanoma is the highest based on r...

      Consumer debt moved higher in the fourth quarter of 2019

      But a Federal Reserve report suggests consumers have been able to handle it

      Consumers took on more debt in the fourth quarter of last year, a sign of rising incomes and growing confidence. 

      In its quarterly report, the Federal Reserve Bank of New York put total household debt at a record $14.15 trillion at the end of 2019, an increase of $193 billion.

      The Fed says loan balances have been on the rise for the last five years and are now higher than their previous peak -- which occurred just before the start of the financial crisis in the third quarter of 2008. Overall debt is now 26.8 percent higher than the recent low in the second quarter of 2013.

      A lot of the fourth quarter increase came from people buying homes. The Fed report shows balances on mortgages rose by $120 billion from the previous quarter to reach $9.56 trillion. 

      Interestingly, the amount consumers who owe on home equity lines of credit (HELOC) went down, continuing a 10-year trend. HELOCs have especially fallen out of favor after the 2017 tax law, which removed the interest deduction on these loans. Consumers now owe $390 billion on what are essentially second mortgages on their primary homes.

      Non-housing debt also rose

      Non-housing debt rose by $79 billion in the fourth quarter, with all forms of these loan balances increasing. Consumers increased what they owe on auto loans by $16 billion, credit card balances rose by $46 billion, and the amount owed on student loans increased by $10 billion.

      “Note that the large increase in credit card balances reflects, in part, a shifting of balances across debt types as portfolios have shifted among lenders,” the authors of the Fed report wrote. 

      The report shows new lending was strong in the fourth quarter, especially among mortgage lenders. New mortgages, including purchases and refinanced loans, totaled $752 billion, a big jump from the $528 billion in the third quarter and the highest volume in originations since the end of 2005. 

      Rising credit limits

      Credit card companies increased cardholders’ credit limited by $96 billion, but, overall, lenders didn’t loosen credit standards to increase the amount of credit they extended. In fact, they tightened them.

      The median credit score of new mortgages rose to 770, a 5 point increase from the third quarter, reflecting higher share of refinances. 

      The Fed says auto lenders tightened underwriting standards, with a four-point increase in the median originating credit score. The volume of subprime auto originations was $31 billion, a level on par with the last several years. 

      One important point -- the Fed says consumers appeared to be able to handle the increase in household debt. Delinquency rates were mostly unchanged in the fourth quarter, with only 4.7 percent of consumer debt in some stage of delinquency. That’s down 0.1 percent from the third quarter.

      Consumers took on more debt in the fourth quarter of last year, a sign of rising incomes and growing confidence. In its quarterly report, the Federal R...

      FDA classifies three more prescription medications as OTC

      Two are eyedrop products and one is a topical gel for arthritis relief

      The Food and Drug Administration (FDA) has approved three prescription drugs for over-the-counter (OTC) purchase by using a process that the agency calls prescription (Rx)-to-OTC switch.

      It’s not an uncommon occurrence -- after all, the nicotine patch once required a doctor’s prescription but is now sold OTC. Lately, however, the FDA seems to have changed the process by which prescription medications become available without approval from a health professional.

      The latest drugs to go OTC include Voltaren Arthritis Pain, Pataday Twice Daily Relief, and Pataday Once Daily Relief. The first drug provides temporary relief for arthritis pain while the last two are intended for temporary relief of itchy and red eyes due to pollen, ragweed, grass, animal hair or dander.

      “As a result of the Rx-to-OTC switch process, many products sold over-the-counter today use ingredients or dosage strengths that were available only by prescription 30 years ago,” said Dr. Karen Mahoney, acting deputy director of the Office of Nonprescription Drugs in the FDA’s Center for Drug Evaluation and Research.

      She says the agency takes the action to improve public health by increasing the types of drugs consumers can access and use that would otherwise only be available by prescription. 

      “This includes providing the millions of people that suffer with joint pain from arthritis daily over-the-counter access to another non-opioid treatment option,” Mahoney said.

      New OTC treatments

      Voltaren Arthritis Pain is a GlaxoSmithKline topical gel product that is rubbed into the skin in an area of joint pain. It’s typically used for the temporary relief of arthritis pain in the hand, wrist, elbow, foot, ankle or knee in adults. It’s the first and only prescription-strength, nonsteroidal anti-inflammatory (NSAID) topical gel for arthritis pain to get OTC approval in the United States.

      "Osteoarthritis treatment guidelines from several international and United States medical societies, including the 2019 American College of Rheumatology (ACR) endorse the early use of topical NSAIDs for treating arthritis pain of the knee and hand,” said Dr. Roy Altman, Professor of Medicine in Rheumatology at UCLA. “In contrast to prior guidelines, the recommendations are inclusive of all age groups, not just the elderly."

      Pataday Twice Daily Relief and Pataday Once Daily Relief are produced by Alcon. They are eyedrop products that provide relief from itchy eyes associated with allergies. According to Alcon, 65 million Americans suffer from allergy-induced eye conditions.

      The Food and Drug Administration (FDA) has approved three prescription drugs for over-the-counter (OTC) purchase by using a process that the agency calls p...

      Participating in a variety of activities keeps the mind sharp, study finds

      Regularly taking part in diverse activities can keep the brain engaged

      Finding time to try new things can be difficult for busy, working-aged consumers. But results from a recent study shows that participating in a diverse number of activities can benefit our brain health as we age. 

      Researchers from the University of South Florida (USF) say that regular engagement in a variety of activities can be linked to improved cognitive function later in life. 

      “Results support the adage to ‘use it or lose it’ and may inform future interventions targeting the promotion of active lifestyles to include a wide variety of activities for their participants,” said USF assistant professor Soomi Lee. 

      Consistency, variety, and brain health

      The researchers came to their conclusions after analyzing cognitive data from over 700 consumers who took part in the National Survey of Daily Experiences. The questionnaire covered a number of everyday tasks, including paid work, time with children, chores, leisure, physical activity, volunteering, and giving informal help.

      Study subjects were asked every day over the course of eight days if they participated in these activities. Participants rated each activity based on the variety and consistency with which they engaged with it. After 10 years, they repeated the exercise and had their cognitive function tested. 

      The researchers found that consistent engagement with a variety of activities led to better brain function. The team said the results could be used to help craft therapies and interventions for older consumers who show cognitive decline.

      “Findings suggest that active and engaged lifestyles with diverse and regular activities are essential for our cognitive health,” Lee said. 

      The full study has been published in the Journal of Gerontology: Psychological Sciences and Social Sciences.

      Finding time to try new things can be difficult for busy, working-aged consumers. But results from a recent study shows that participating in a diverse num...

      Dairy Farmers of America agrees to buy largest U.S. milk producer

      The move follows Dean Foods’ bankruptcy last November

      The U.S.’ largest supplier of milk has finally found a buyer after declaring bankruptcy in November. 

      Dean Foods announced on Monday that the Dairy Farmers of America (DFA) would be buying its business for $425 million. The move will put the organization in charge of 44 of the Dean Foods’ facilities and transfer liabilities incurred during the company’s financial slide. 

      “As Dean is the largest dairy processor in the country and a significant customer of DFA, it is important to ensure continued secure markets for our members’ milk and minimal disruption to the U.S. dairy industry,” said DFA president and CEO Rick Smith. 

      “As a family farmer-owned and governed cooperative, no one has a greater interest in preserving and expanding milk markets than DFA. We are pleased that we have come to an agreement on a deal that we believe is fair for both parties.”

      Leading bid

      The proposed deal still needs to be approved by the court in charge of Dean Foods’ bankruptcy proceedings. If it gets that approval, DFA would become the lead bidder for the company’s business.

      In a statement, Dean Foods CEO Eric Beringause expressed support for the deal with DFA.

      “We have had a relationship with DFA over the past 20 years, and we are confident in their ability to succeed in the current market and serve our customers with the same commitment to quality and service they have come to expect,” he said.

      The U.S.’ largest supplier of milk has finally found a buyer after declaring bankruptcy in November. Dean Foods announced on Monday that the Dairy Farm...

      Model year 2020 Honda Passports and Pilots recalled

      Ink on the certification label can be wiped away

      American Honda Motor Co. is recalling 10,050 model year 2020 Passports and Pilots.

      The certification label may have been printed with ink that can be wiped away with a solvent, removing the Gross Axle Weight Rating (GAWR) and Gross Vehicle Weight Rating (GVWR) information.

      If the operator is unable to refer to the label information, the vehicle may be overloaded, increasing the risk of a crash.

      What to do

      Honda will notify owners, and dealers will replace the certification label free of charge.

      The recall is expected to begin March 17, 2020.

      Owners may contact Honda customer service at (888) 234-2138. Honda's number for this recall is B6T.

      American Honda Motor Co. is recalling 10,050 model year 2020 Passports and Pilots.The certification label may have been printed with ink that can be wi...

      Textron Specialized Vehicles recalls gas-powered E-Z-GO, Cushman and Tracker brand off-road vehicles

      The starter generator wire can come into contact with the vehicle’s exhaust

      Textron Specialized Vehicles of Augusta, Ga., is recalling about 20,573 gas-powered E-Z-GO, Cushman and Tracker brand off-road vehicles.

      The starter generator wire can be improperly secured, allowing it to come into contact with the vehicle’s exhaust, posing a fire hazard.

      The firm has received 13 reports of melted and/or burned wires and electrical components and loss of vehicle function in some cases, including one report of fire. No injuries have been reported.

      This recall involves gas-powered E-Z-GO, Cushman and Tracker brand off-road vehicles manufactured from November 2018, through June 2019, with certain non-sequential serial numbers ranging from 3377720 to 3440924. The serial number is located on the kick panel below the driver side seat.

      The vehicles, manufactured in the U.S., were sold at E-Z-GO, Cushman and Tracker off road dealerships nationwide from November 2018, through October 2019, for between $6,300 and $13,400.

      What to do

      Consumers should immediately stop using the recalled off-road vehicles and contact Textron Specialized Vehicles for a free repair. Textron Specialized Vehicles is contacting all known purchasers directly.

      Consumers may contact Textron toll-free at (888) 525-6040 between 8 a.m. and 5 p.m. (ET) Monday through Friday, by email at jcook03@textron.com or online (for E-Z-Go) at https://ezgo.txtsv.com, click on “Owners” at the top of the page, then “Recall Information;” (for Cushman) at https://cushman.txtsv.com, click on Owners at the top of the page, then “Recall Information,” and (for Tracker) at www.trackeroffroad.com and click on “Recalls” at the bottom of the page.

      Textron Specialized Vehicles of Augusta, Ga., is recalling about 20,573 gas-powered E-Z-GO, Cushman and Tracker brand off-road vehicles. The starter gen...

      Just how deadly is the coronavirus?

      The worrisome fact is that health experts just don’t know for sure

      The headlines are scary. The novel coronavirus, now officially named COVID-19, has sickened at least 70,000 people and killed more than 1,770 -- with nearly all the deaths occurring in China.

      That’s a death rate of a little more than 2 percent, which at this point is higher than the percentage of Americans who have died from the flu this year. But health officials point out that we’re relatively early in the outbreak. That percentage of COVID-19 deaths could increase over time, or it might not.

      At this point, however, your chances of surviving if you get COVID-19 appear to be similar to your odds of surviving the flu. Both conditions tend to kill people who are in fragile health, along with the very old and very young. 

      But the new disease appears to be more severe in some patients than in others. The World Health Organization (WHO) estimates that about 80 percent of the people who get the virus get a relatively mild case and recover in about a week. If you’re in that 80 percent, your odds of survival are very good.

      It’s the other 20 percent that health officials worry about. In these patients, the virus causes a serious lung infection that creates pneumonia-like symptoms. 

      WHO says deaths are ‘rare’

      Dr. Yoko Furuya, an infectious disease specialist at Columbia University Irving Medical Center, says the virus replicates in lung tissue and begins to destroy cells in severe cases. But at this point, WHO calls deaths from COVID-19 “rare.”

      “Older people, and people with pre-existing medical conditions, such as diabetes and heart disease, appear to be more vulnerable to becoming severely ill with the virus,” officials said.

      WHO reports that the disease, at its worst, attacks the lungs in three phases. The second and third phases may be the most lethal, attacking the immune system and destroying the body’s pulmonary system.

      But just as in the SARS epidemic nearly 20 years ago, not everyone who gets the virus goes through all three phases. That’s often the case with the flu, which is generally more widespread and more deadly than COVID-19. 

      Flu fatalities

      The Centers for Disease Control and Prevention (CDC) estimates at least 26 million Americans have come down with the flu between October 1 and February 1. Between 14,000 and 36,000 of them have died, and that’s just in the U.S.

      Former Food and Drug Administration Commissioner Scott Gottlieb, in an interview on CNBC, said the flu may not be a good comparison when considering COVID-19. What makes the latter more worrisome, he says, is that it appears to be a lot more contagious than the flu and might spread more easily.

      COVID-19 may turn out to be less pervasive or lethal than the flu, but again, it’s really too early to tell, a fact that makes healthcare providers very nervous.

      Gabriel Leung, a professor and chairman of public health medicine at Hong Kong University, told The Guardian last week that COVID-19 might eventually spread to 60 percent of the world’s population if it’s not stopped in its tracks.

      The headlines are scary. The novel coronavirus, now officially named COVID-19, has sickened at least 70,000 people and killed more than 1,770 -- with nearl...

      American passengers aboard quarantined cruise liner are back home after coronavirus scare

      People with no symptoms of sickness have been evacuated

      American passengers who were quarantined aboard a cruise ship in Japan are arriving home today.

      The passengers spent two weeks in quarantine aboard the ship in a Japanese port after there were confirmed cases of coronavirus on the ship. The Americans face two more weeks of isolation at Travis Air Force Base in California and Lackland Air Force Base in Texas. They left Japan aboard two jets chartered by the U.S. State Department.

      Nearly 400 Americans and their families were aboard the Diamond Princess cruise liner when cases of the coronavirus began to be reported in early February. In tests that were given, several passengers tested positive for the virus.

      The American passengers who tested positive have been separated from the main group and were not evacuated. Instead, they remain in Tokyo hospitals for treatment. However, in a statement Monday morning, the U.S. government reported that 14 of the evacuated passengers aboard the planes have now tested positive for the virus.

      NPR reports that 355 people aboard the ship tested positive for the virus, including 44 Americans. That’s the largest confirmed outbreak outside of China.

      The Centers for Disease Control and Prevention (CDC) said the decision was made to evacuate the non-infected Americans because the number of confirmed coronavirus cases on the ship was rising.

      The problem with cruise ships

      A cruise ship is one of the worst places to be when a contagious disease has broken out. The confined spaces make it difficult to avoid contact with germs and other infected people.

      Last week, the Cruise Lines International Association, an industry trade group, advised members to deny boarding to passengers or crew members if they have traveled through China, Hong Kong, or Macao in the last two weeks.

      The coronavirus outbreak has hit the cruise industry particularly hard, coming at the height of travel season and threatening to put a dent in the $46 billion ocean cruise industry. In the U.S., the major players are Carnival Corp., Royal Caribbean Cruises, and Norwegian Cruise Lines.

      American passengers who were quarantined aboard a cruise ship in Japan are arriving home today.The passengers spent two weeks in quarantine aboard the...

      Pier 1 Imports files for bankruptcy

      The company will finish closing 450 stores during the proceedings as it attempts to reorganize

      Retail company Pier 1 Imports announced on Monday that it is filing for Chapter 11 bankruptcy.

      In a press release, the company said that it would continue to operate its business while attempting to return to profitability. However, it will continue its efforts to close 450 store locations and two distribution centers. 

      Robert Riesbeck, Pier 1’s CEO and CFO, said that the company’s initiatives to reduce costs has allowed it to take “significant steps forward” as it seeks a buyer.

      “Today’s actions are intended to provide Pier 1 with additional time and financial flexibility as we now work to unlock additional value for our stakeholders through a sale of the Company,” he said. “We are moving ahead in this process with the support of our lenders and are pleased with the initial interest as we engage in discussions with potential buyers.”

      Looking for a buyer

      When a company files for Chapter 11 bankruptcy, it doesn’t necessarily mean that it will completely go under. The filing is meant to allow the company to reorganize its business so that it can stay afloat and pay its creditors over time. 

      In Pier 1’s case, the company says that it has secured $256 million in debtor-in-possession financing from Bank of America, Wells Fargo, and Pathlight Capital LP. If the company is able to gain court approval, it will use those funds and other liquid assets to keep some stores operating while it finds a buyer.

      “We will continue to serve our customers regardless of how and where they shop with the style, value and selection of merchandise they want as we move through this process, and we are committed to working seamlessly with our vendors and partners,” Riesbeck said. 

      “We appreciate the ongoing dedication of our associates, whose efforts in providing our loyal customers with the experience they expect from our brand are critical to our success and the future of Pier 1.”

      Retail company Pier 1 Imports announced on Monday that it is filing for Chapter 11 bankruptcy.In a press release, the company said that it would contin...

      Social media makes breakups harder for consumers

      Researchers say it’s harder than ever for consumers to distance themselves from ex-partners

      While previous studies have explored how social media can make users feel excluded by their friends, a new study conducted by researchers from the University of Colorado at Boulder found that it can also make users feel worse after a breakup. 

      According to the researchers, social media platforms have made it harder than ever for users to get distance from relationships that have recently ended. These platforms can serve as a constant reminder of what ex-partners are up to -- including forming new relationships. Moreover, the researchers found that utilizing tools to block, mute, or unfriend exes didn’t make things better. 

      “Before social media, break-ups still sucked, but it was much easier to get distance from the person,” said researcher Anthony Pinter. “It can almost make it impossible to move on if you are constantly bombarded with reminders in different places online.” 

      Why it’s so hard to move on

      The researchers had 19 people involved in the study, all of whom had experienced the end of a relationship in the last 18 months and had a poor experience with social media after the breakup. 

      The participants were interviewed for over an hour each about their social media use after their breakup. They answered questions about how the internet contributed, either positively or negatively, to their coping. 

      The researchers learned that there were several features -- particularly on Facebook -- that made it difficult for consumers to get distance from their exes and move on from their past relationships. Participants were frequently reminded of their relationship bliss via the Memories feature, which calls up pictures, videos, and posts from past years, making it harder for social media users to put that part of their lives behind them. 

      Moreover, Facebook made it nearly impossible for the study participants to ignore their former partners’ life updates, as the News Feed is a constant reminder of things going on with a person they no longer want to be updated on. And while this could be a way for users to upload a new profile picture or share news about a job, it could also be the way to share a new relationship, making it all the more difficult for exes to move on. 

      Unfriending isn’t the answer 

      While Facebook, like several social media platforms, gives users the option to block, unfriend, or mute others, the researchers learned that these tools weren’t enough for the participants. 

      “A lot of people make the assumption that they can just unfriend their ex or unfollow them and they are not going to have to deal with this anymore,” Pinter said. “Our work shows that this is not the case.” 

      He explained that exes’ information can pop up via comments or likes from mutual friends or in mutual groups, or even from their family members or friends who haven’t been unfriended. This can leave heartbroken consumers with constant reminders of their lives pre-breakup. 

      While these tools certainly aren’t going to rid exes from consumers’ social media profiles, Pinter suggests using them anyway, as they can offer some peace of mind when a relationship ends. Perhaps most importantly, he says staying off social media for a while can work wonders while consumers process their feelings. 

      “In real life, you get to decide who gets the cat and who gets the couch, but online it’s a lot harder to determine who gets this picture or who gets this group,” Pinter said. 

      While previous studies have explored how social media can make users feel excluded by their friends, a new study conducted by researchers from the Universi...

      Millennials are leading the way in increasing retirement savings

      An industry report shows younger consumers are also taking advantage of Roth accounts

      An improving labor market and rising wages have contributed to improved retirement savings in the workplace, according to Fidelity Investments

      In its analysis of the fourth quarter of 2019, Fidelity found that the average 401(k) balance rose to $112,300, a new record high and a 7 percent increase from the previous quarter’s balance of $105,200. 

      On an annual basis, 401(k) account balances were up 17 percent from $95,600 in the fourth quarter of 2018.

      Savings in IRA accounts also rose. Fidelity reports the average IRA balance rose to a record $115,400, up 5 percent from the previous quarter and also 17 percent higher than a year ago.

      Thrifty millennials

      Millennials appear to be leading the way when it comes to socking away cash. Overall, the number of accounts that received a fourth-quarter contribution rose 7 percent from 12 months earlier. The percentage of millennials contributing to an IRA went up 21 percent over the fourth quarter of 2018. 

      The Fidelity analysis shows millennials contributed a total of $373 million to their IRAs in the fourth quarter, which is a 46 percent increase over what they were able to save a year earlier.

      What might be even better news is that 73 percent of those millennial contributions went into a Roth IRA, which has emerged as the most advantageous of the retirement savings vehicles.

      The difference in a Roth IRA

      With a traditional IRA, contributions are tax-deductible and the account holder is not taxed on the capital gains and income the account earns. However, withdrawals during retirement are taxed as ordinary income.

      With a Roth IRA, contributions are not deductible. However, withdrawals are not taxed so that investments in the account earn tax-free income. Personal finance experts generally recommend a Roth IRA as one of the best ways to save for retirement.

      Retirement savers also were able to increase their savings rate during the fourth quarter. The average employee savings rate hit a record 8.9 percent. When employer contributions are considered, the savings rate hit 13.5 percent.

      For 2019 as a whole, 33 percent of retirement plan participants were able to increase the amount they put aside. Of that number, 60 percent relied on an automatic deposit system to increase their savings.

      Retirement account millionaires

      Employees are saving so much, and have been doing it for so long, that Fidelity found the number of savers with at least $1 million in retirement savings grew to record levels in the fourth quarter.

      There were 233,000 401(k) account holders in the million-dollar club and 208,000 IRA account holders who have reached that milestone.

      “The growth in savings levels over the last 10 years demonstrates the positive impact of taking a long-term approach to retirement,” said Kevin Barry, president of Workplace Investing at Fidelity Investments.

      But Berry says the future is never certain, so it’s important to maintain positive saving habits and keep accounts diversified.

      An improving labor market and rising wages have contributed to improved retirement savings in the workplace, according to Fidelity Investments. In its...