Current Events in September 2020

If you could use a little extra cash, the Internal Revenue Service (IRS) is forking out a $625,000 bounty to anyone who can find a way to trace transactions on the privacy-focused cryptocurrency Monero or on the Lightning Network.

The IRS’ Criminal Investigation unit (IRS-CI) is on the prowl for “illicit actors” whose bread and butter is the use of privacy coins and networks that might be facilitating identify theft, narcotics trafficking, money laundering, terrorist financing, sex trafficking, and child prostitution. 

As an example, CoinTelegraph’s Joshua Mapperson notes that Monero is one of the virtual currencies preferred among criminal organizations over more traceable crypto assets like Bitcoin. Monero was also tied to the WannaCry Ransomware Attack that hit Boeing, FedEx, and others.

Lightning Labs, on the other hand, has developed a monitoring app called Lndmon that allows network payments to be routed through several sequential channels that essentially mask cyber currency transactions and are not publicly recorded on the blockchain. The IRS says the number of nodes on the Lightning Network has grown to nearly 10,000 since the initial release in March 2018, close to the number of full redistribution points or communication endpoints on the Bitcoin mainchain.

What the IRS is looking for

The short version of the IRS’ gamble is that it’s looking for someone -- or some ones -- to show them how to trace transactions to specific users and provide technology which allows its Special Agents to predict statistical likelihoods of transaction inputs, outputs, metadata, and public identifiers. 

A key factor for the agency is the ability to keep everything in-house as much as possible. To date, authorities have had to outsource their crypto forensics capabilities and employ the skills of private contractors.

At least 70 products sold under Amazon’s “AmazonBasics” brand could pose a safety risk, according to a report from CNN. 

During an investigation, CNN found more than a thousand customer reviews in which customers described startling events while using certain products. Customers said products were often associated with fires and other safety issues. 

“Since 2016, at least 1,500 reviews, covering more than 70 items, have described products exploding, catching on fire, smoking, melting, causing electrical malfunctions or otherwise posing risks,” CNN said.

Some products remain up for sale

The affected products, many of which are still for sale on Amazon, include USB charging cables, a microwave, battery chargers, and office equipment. 

In one case involving a microwave, a customer review said that the voice-activated appliance caught fire after a child heated up a macaroni and cheese cup. CNN investigated the product on its own and found that the microwave “began sparking and smoking” as soon as it was turned on. 

In another review, a customer said an AmazonBasics USB cable melted on an office chair, ignited the upholstery, and started a house fire. 

Amazon has discontinued some of the products CNN identified as problematic. However, the publication noted that around 30 items with three or more reviews include words like “hazard” or “fire” or suggest that the product should be recalled. 

In a statement, Amazon said its AmazonBasics microwave is safe to use and that it thoroughly vets its products for safety. 

“We take the safety of our products seriously, and are confident that the AmazonBasics Microwave is safe to use,” an Amazon spokesperson said. “We take several steps to ensure our products are safe including rigorous testing by our safety teams and third-party labs. The appliance continues to meet or exceed all certification requirements established by the FDA, UL, FCC, Prop 65, and others for safety and functionality.”

Adults who tested positive for COVID-19 were around twice as likely to have gone to a restaurant or bar in the two weeks prior to becoming ill, the Centers for Disease Control and Prevention (CDC) reported Thursday. 

The researchers said newly sick people who didn’t have any known contact with a person with COVID-19 were far more likely to have reported dining out in recent weeks.

The study concluded that situations "where mask use and social distancing are difficult to maintain, including going to places that offer on-site eating or drinking, might be important risk factors for acquiring COVID-19.” 

Face mask use was common

Most of the study participants, both those with and without COVID-19, said they commonly wore a face mask. Seventy-one percent of people with COVID-19 said they always wore a mask when out in public and 74 percent of those without COVID-19 said the same. 

But a major difference between the two groups was that people who tested positive were more likely to have reported dining at a restaurant, bar, or coffee shop in the two weeks before they became ill.

"The bottom line is that many people don't put their mask back on when they aren't eating and drinking, and may be engaged in conversation," said Dr. Robert Glatter, an emergency medicine physician at Lenox Hill Hospital in New York City. "This very fact increases the risk of transmission, and is compounded by lack of enforcement by management at eating and drinking establishments."

Glatter said the involvement of alcohol can also boost COVID-19 risk. Drinking "makes people move closer together, speak louder, thereby generating more aerosolized droplets that may contain infectious viral particles,” he said. 

The study authors noted that a limitation of the study was that it was conducted on a relatively small group of participants (314 adults). The researchers said a larger study would help determine whether the same conclusion emerged out of a larger group of participants. The study also didn’t differentiate between indoor or outdoor restaurant dining. 

"Reports of exposures in restaurants have been linked to air circulation. Direction, ventilation, and intensity of airflow might affect virus transmission, even if social distancing measures and mask use are implemented according to current guidance," the researchers wrote.

"Masks cannot be effectively worn while eating and drinking, whereas shopping and numerous other indoor activities do not preclude mask use."

Since the start of the COVID-19 pandemic, consumers have been stocking up on food and supplies. This has led to shortages of necessary items and a push by regulators to get people to cease these hoarding habits. 

Now, researchers from the University of Technology Sydney are diving deeper into the psychology behind the ways the pandemic has turned many consumers into hoarders and shifted overall spending habits. 

“Evolved instincts dominate in stressful situations, as a response to panic and anxiety,” said researcher Michelle Baddeley. “During times of stress and deprivation, not only people but also many animals show a propensity to hoard.” 

The psychology behind hoarding

The researchers assessed current levels of hoarding from several different points of view, all with the intention of understanding why this trend among consumers has emerged since the start of the pandemic. While many factors come into play, the innate desire to follow others’ behaviors and a general sense of fear are two major influences that have affected consumers’ shopping trends in recent months. 

Once trends start to emerge -- especially in times of uncertainty -- consumers tend to follow what others are doing. This is how grocery store shelves end up empty and homes are stockpiled with various goods; consumers don’t want to feel left out or that they’re missing something. 

“When other people’s choices might be a useful source of information, we use a herding heuristic and follow them because we believe they have good reasons for their actions,” Baddeley explained. “We might choose to eat a busy restaurant because we assume the other diners know it is a good place to eat. However, numerous experiments from social psychology also show that we can be blindly susceptible to the influence of others. So when we see others rushing to the shops to buy toilet paper, we fear missing out and follow the herd.” 

In addition to hoarding products like toilet paper or cleaning supplies, the pandemic has changed the way many consumers think about spending and saving money. The researchers explained that many of these decisions come from fear, but they have long-standing implications. 

“In economics, hoarding is often explored in the context of savings,” said Baddely. “When consumer confidence is down, spending drops and households increase their savings if they can, because they expect bad times ahead.” 

Being prepared for the future

These findings highlight the ways that spending habits have been affected by the pandemic, and the researchers hope that lawmakers can use these results to help guide consumers away from fear-based efforts and towards more positive actions. 

“Understanding these economic, social, and psychological responses to COVID-19 can help governments and policymakers adapt their policies to limit negative impacts, and nudge us towards better health and economic outcomes,” said Baddeley. 

The Department of Justice (DOJ) has charged a National Football League (NFL) player and 10 others for their alleged participation in a coronavirus-related scam. 

In a ploy to game the Paycheck Protection Program (PPP), NFL free agent Josh Bellamy, a University of Louisville product who has played for the Chicago Bears, New York Jets, and other teams, allegedly colluded with friends and family to obtain millions of dollars in fraudulent PPP loans. All told, there were more than 90 loan applications filed by the 10 people charged in the matter, totaling more than $24 million. The DOJ says many of those loan applications were approved and funded by financial institutions, paying out at least $17.4 million.

Bellamy was arrested in Florida on Thursday and formally charged in a federal criminal complaint for wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.

The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic. One leg of the relief program was the authorization of up to $349 billion in forgivable loans exclusively made to small businesses for job retention and certain other expenses.

Securing fraudulent loans

In the early stages of the scheme, Phillip J. Augustin -- who operates a talent management company called Clear Vision Music Group LLC -- was able to land a fraudulent PPP loan for his company using falsified documents. After hitting gold with that fake application, Augustin allegedly began to co-conspire with others, including Bellamy, to help them obtain PPP loans for themselves and score a kickback for himself for showing them how to pull off the scam.

Bellamy allegedly obtained a PPP loan of $1,246,565 for his own company, Drip Entertainment LLC. With the PPP cash-in-hand, Bellamy allegedly went on a shopping spree, buying more than $104,000 in luxury goods at Dior, Gucci, and other retailers. 

The DOJ also alleges that Bellamy didn’t stop there; officials say he also sought out PPP loans on behalf of his family and friends.

The days immediately after Labor Day saw gasoline prices dip in most areas of the country as oil prices declined, along with demand for fuel.

The AAA Fuel Gauge Survey shows the national average price of regular gas is $2.20 a gallon, two cents less than a week ago. The price hasn’t fluctuated more than six cents a gallon over the last month.

The average price of premium gas is $2.81 a gallon, two cents less than last Friday. The average price of diesel fuel has remained stable over the last month at $2.42 a gallon.

“Summer may be fading into the rearview mirror, but less expensive gas prices are not,” said Jeanette Casselano, a AAA spokesperson. “Moving into fall we traditionally see a drop in demand and further savings at the pump. This year that means pump prices could possibly push even lower then we’ve already seen in 2020.”

Prices declined in nearly every state during the week, though there were some exceptions. However, even when prices were higher it was usually no more than a penny or two over the previous week.

In its mid-week report, the U.S. Energy Information Administration (EIA) showed oil supplies grew over the last week while demand for gasoline declined. That sent oil prices even lower, closing Thursday below $40 a barrel.

The states with the most expensive gas

These states currently have the highest prices for regular gas, according to the AAA Fuel Gauge Survey:

• California ($3.24)

• Hawaii ($3.24)

• Washington ($2.83)

• Oregon ($2.66)

• Nevada ($2.68)

• Alaska ($2.55)

• Pennsylvania ($2.51)

• Utah ($2.47)

• Idaho ($2.46)

• Colorado ($2.34)

The states with the cheapest regular gas

The survey found these states currently have the lowest prices for regular gas:

• Mississippi ($1.88)

• Texas ($1.89)

• Louisiana ($1.91)

• Missouri ($1.91)

• Arkansas ($1.91)

• Alabama ($1.91)

• Oklahoma ($1.92)

• South Carolina ($1.95)

• Tennessee ($1.96)

• Kansas ($1.99)

CFMOTO Powersports of Plymouth, Minn., is recalling about 500 model year 2020 ZFORCE 950 Sport recreational off-highway vehicles (ROVs).

The fuel line fitting on the vehicles can fail to securely lock onto the fuel injector inlet, allowing fuel to spill onto the hot engine parts and ignite, posing a fire hazard.

The firm has received two reports of the fuel injector connection not fully secure and locked in place, causing a fuel leak. One of the incidents resulted in a vehicle engine fire. No injuries have been reported.

This recall involves the 2020 ZFORCE 950 Sport ROV with a 963cc 4-cycle engine. Vehicles colors are red or gray with the CFMOTO logo in the center of the front grille.

The model name is located on each side of the vehicle doors. The model year 2020 ROVs will have the L in the 10th position of the vehicle identification number (VIN).

The VIN number is stamped on the right side frame rail, behind the right rear tire.

The ROVs, manufactured in China, were sold at CFMOTO dealers nationwide from June 2020, through August 2020, for about $13,000.

What to do

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

Consumers may contact CFMOTO toll-free at (888) 823-6686 from 8 a.m. to 5 p.m. (CT) Monday through Friday, by email info@cfmotousa.com or online at www.cfmotousa.com and click on “Customer Care” at the bottom of the page, then Vehicle Safety for more information.

Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)

Total U.S. confirmed cases: 6,370,081 (6,334,158)

Total U.S. deaths: 191,168 (189,972)

Total global cases: 27,925,613 (27,628,190)

Total global deaths: 905,089 (898,757)

Amid pandemic, Papa John’s announces major expansion

With a strong home delivery business model, pizza chains like Dominos and Papa John’s were well-positioned to handle the coronavirus (COVID-19) lockdown in the spring, and both companies have seen their businesses grow over the last six months.

Now, Papa John’s has announced a major expansion by one of its largest franchisees. HB Restaurant Group plans to open 49 new locations in the Philadelphia and southern New Jersey market between next year and 2028.

“Recent record sales have driven further gains in store profitability,”  said Papa John’s chief development officer Amanda Clark. “Combined with our resilient e-commerce and delivery model, a transforming brand and significant whitespace, Papa John’s today offers franchise investors a truly compelling opportunity.”

Study suggests COVID-19 was present in U.S. in December

It’s generally accepted that the first confirmed patient with the coronavirus in the U.S. was diagnosed in late January, but new evidence suggests that the virus could have been present in the country weeks earlier.

Researchers at UCLA detected an unusual 50 percent increase in patients with respiratory illnesses at UCLA Health facilities in the months before the pandemic. These patients complained of coughs and acute respiratory failure beginning in late December.

“The pandemic has really highlighted our need for agile health care analytics that enable real-time symptom and disease surveillance using electronic health records data,” said Dr. Michael Pfeffer, a study co-author and chief information officer for UCLA Health.

New unemployment claims higher than expected

Even though the labor market shows signs of recovering from the pandemic, it isn’t having much effect on layoffs, at least not yet. The Labor Department reports that initial claims for unemployment benefits totaled 884,000 last week -- about the same as the previous week.

The good news is that layoffs appear to be stabilizing at less than 1 million per week. The bad news is that the number isn’t falling very much.

As a way to compare today with pre-pandemic times, weekly jobless claims totaled just 208,000 during the same week in 2019, but they have remained above 880,000 for more than 25 consecutive weeks.

Scientists question Russian vaccine trial

A group of international scientists is questioning the results of a clinical trial of Russia’s Sputnik V coronavirus vaccine. In a letter to the British medical journal The Lancet, the mostly European scientists said Russia needs to explain how it reached the conclusion that its vaccine is safe and effective.

One point of contention is the fact that groups of participants had reported identical antibody levels at different points in the study.

“There are several data patterns which appear repeatedly for the reported experiments,” the group wrote in its letter. “On the ground of simple probabilistic evaluations the fact of observing so many data points preserved among different experiments is highly unlikely.”

Study: Most older workers don’t have jobs that can be done from home

As the economy reopens, older workers – who  happen to be more at risk from COVID-19 – may be the last to return to work. A recent study by the Center for Retirement Research at Boston College shows that older employees are just as likely as younger workers to have jobs that can be performed from home. 

“However, only about 45 percent of all older workers are in such jobs, and they tend to be those with higher earnings and more education,” the study found.

The authors worry that the other 55 percent may soon be faced with a tough choice -- to either stay in a workplace setting where they could be exposed to the coronavirus or seek other jobs.

Around the nation

• South Dakota: Gov. Kristi Noem has unveiled a 30-second TV spot promoting tourism in the state, produced with coronavirus relief funds. The commercial invites people to come to South Dakota where they can “safely explore,” though CBS News points out that the state has emerged as one of the nation’s virus hot spots.

• Arkansas: State health officials say they have enlisted the aid of Baptist Health in efforts to process coronavirus tests. Gov. Asa Hutchinson says tests gathered by the state will be forwarded to the health care system for processing.

• New Jersey: After less than a week of school under the state’s hybrid model, teachers in one school district are already complaining. The Parsippany-Troy Hills Education Association says that the superintendent has "established an uncreative, one-size-fits-all instructional mandate that has handcuffed teachers and limited our ability to innovate."

The number of children and teenagers who use e-cigarettes is slightly down this year, but not enough for health officials to stop calling it an “epidemic.” 

The Centers for Disease Control and Prevention (CDC) said in a release that 3.6 million youths have used e-cigarettes this year. That’s down from 5.4 million in 2019. 

"Although the decline in e-cigarette use among our nation's youth is a notable public health achievement, our work is far from over," said CDC director Dr. Robert Redfield. "Youth e-cigarette use remains an epidemic, and [the] CDC is committed to supporting efforts to protect youth from this preventable health risk."

Vaping still common among youth

The CDC, which drew its findings from the National Youth Tobacco Survey, found that 8 in 10 middle and high school students who currently vape said they use flavored e-cigarettes. The use of mint and menthol flavored vaping products was also common among the demographic.

Health officials have been attempting to curb the rise in teen vaping for several years now. Efforts to drive down the rate of vaping among youth have focused on cracking down on sales of flavored products, which have been found to appeal to minors. 

Unfortunately, researchers have found that teenagers who use e-cigarettes may be more likely to continue vaping. 

“While many children try e-cigarettes, not all become regular users,” said researcher Adam Leventhal, who worked on a 2019 study out of the University of Southern California “Teens who use e-cigarettes may be more inclined to continue vaping rather than just temporarily experiment with e-cigs.” 

“The longer and more frequently you vape, the more you’re exposing yourself to toxins in e-cigarette aerosol and put yourself at risk of nicotine addiction,” Leventhal said. 

Working to drive down the numbers

In the latest analysis of data, the CDC found that 19.6 percent of high school students and 4.7 percent of middle school students used e-cigarettes in 2020 -- down from about 27 percent and 10 percent, respectively, in 2019.

"These findings reinforce the importance of continuing to focus on the strategies that work to reduce youth tobacco product use while keeping pace with emerging trends in tobacco products," said Dr. Karen Hacker, director of CDC's National Center for Chronic Disease Prevention and Health Promotion. "Implementing these strategies at the national, state and local levels is integral to preventing and reducing youth tobacco product use, including e-cigarettes.”

In a statement, FDA Commissioner Dr. Stephen Hahn said the agency “remains very concerned about the 3.6 million U.S. youth who currently use e-cigarettes” and that it “will do everything possible” to stop the health crisis. 

"The findings come as we mark today's premarket review submission deadline, a milestone for ensuring new tobacco products, including many already on the market, undergo a robust scientific evaluation by the FDA,” Hahn said. “Scientific review of new products is a critical part of how we carry out our mission to protect the public -- especially kids -- from the harms associated with tobacco use.”

It’s becoming increasingly clear that one effect of the coronavirus (COVID-19) pandemic has been a change in consumers’ financial habits. A new study of consumers’ credit card debt shows the biggest reduction on record as the pandemic shut down the economy.

In its latest credit card debt study, WalletHub reports that Americans began the year owing more than $1 trillion in credit card debt after a $76.7 billion spending spree during 2019. But when the pandemic arrived with full force in March, consumers’ first impulse was to pay off debt. Credit card balances dropped by a record $60 billion.

The frugality continued in the second quarter. Not only did consumers put less on plastic in April through June, they paid off another $58 billion -- a record paydown for the second quarter.

‘Generous unemployment benefits’ helped

When 2020 draws to a close, WalletHub researchers predict that consumers will end the year with less credit card debt than when they began, the first time that’s happened since the end of the Great Recession in 2009.

“The fact that U.S. consumers paid off $58.1 billion in credit card debt during the second quarter of 2020 is largely attributable to the generous unemployment benefits that laid-off workers were still receiving at the time by Congressional decree, as well as the overall efforts people have made to cut back on spending and generally de-risk their finances in the face of historic uncertainty,” said Jill Gonzalez, WalletHub analyst. 

“It might seem counterintuitive that debt levels would decline when so many people are out of work, but that’s also when people become most frugal and when credit card issuers get stingier with approval decisions and credit limits.”

A Gallup study released this week tends to back up the conclusion that consumers have become more careful with their spending during the pandemic. The survey -- taken after the personal benefits from the CARES Act expired -- shows that 54 percent of Americans are currently saving at least some of their money and plan to continue saving versus spending what they have in the near future.

In another encouraging sign, 76 percent of the people with the ability to save money plan to keep socking it away over the next six months. Another 28 percent say they’ll spend their money on basic goods and services; only 13 percent will splurge a bit on vacation or travel; and 10 percent will use their savings to pay off debts, such as credit cards.

And while day trading in the stock market has become more popular since the pandemic, it apparently involves only a small subset of investors. Seventy-nine percent of the respondents in the Gallup study said they prefer to tuck money away in a savings account, keeping it in cash.

Two major shopping mall owners, likely alarmed at the possible liquidation of JCPenney stores that serve as mall anchors, have stepped in to buy the bankrupt retailer, according to a law firm handling the deal.

An attorney for Kirkland & Ellis says Simon Property Group and Brookfield Property Partners are putting the final touches on their offer of $800 million for the chain that declared bankruptcy in May after the coronavirus (COVID-19) pandemic sent its already-declining sales into a freefall.

Attorney Joshua Sussberg told a court hearing that the rescue package will keep JCPenney operating in 650 stores and save about 70,000 jobs.

The complex deal will give some hedge funds that loaned money to the retailer ownership of some JCPenney assets, including select stores and distribution centers. In return, the department store chain will be relieved of some of its $5 billion debt obligation.

Also part of the deal, Wells Fargo will extend a $2 billion credit line, leaving JCPenney with a significantly smaller debt load and about $1 billion in cash.

Previously, Sycamore Partners, parent company of Belks, was seen as a potential buyer. In July published reports suggested Sycamore Partners would purchase JC Penney and merge some of its stores with the smaller chain.

Existential threat

When it declared bankruptcy in May, JCPenney said it would close some of the 846 stores it had at the time. The potential loss of all JCPenney stores was viewed as an existential threat by the shopping mall industry, already suffering huge losses in foot traffic and dependent on its anchors, like JCPenney, Macy’s, and Sears to attract shoppers.

The shift to online shopping during the pandemic has only made malls’ position in the marketplace more precarious. 

A report in PYMNTS.COM in April summed up the problem for shopping malls, whose problems had suddenly been made worse.

“Part of it is the public psyche,” University of Maryland marketing professor Jie Zhang told the industry publication. “This virus is likely not going to go away any time soon, and the one type of place where people will be much more vigilant about avoiding in the longer term will be those crowded, enclosed spaces. And that’s exactly what traditional shopping malls are.”

Sussberg told the court the deal took a while to complete because of the large number of players and their competing interests. The sale proposal will be presented to the bankruptcy court for final approval.

A new study conducted by researchers from the University of Virginia has found that mild brain injuries can greatly affect consumers’ brain health and function over the long-term. The team found that risk for such brain damage, which can affect memory or increase the risk for Alzheimer’s disease and other conditions, was heightened for those who have suffered several brain injuries. 

“If you have a pre-existing kink in the pipes and you get hit in the head, then everything is taken to a higher level -- the impacts on the memory, the neuroinflammation,” said researcher John Lukens, PhD. “There are a lot of implications to it.” 

Protecting brain health

The researchers conducted their study on mice to determine how brain health is affected by head injuries. Their work revealed that when head injuries aren’t properly healed, the brain swells. For the mice, such swelling lasted up to two weeks; however, when thinking of the life spans of mice versus those of humans, this outcome can lead to long-term brain issues. 

Not only is the swelling cause for concern, but the researchers explained that there are several other risks associated with head injuries. Cognitive decline in old age is more likely, as is the general risk for dementia, Alzheimer’s, and overall issues with memory. 

Traumatic brain injury (TBI) is a condition that develops when consumers incur multiple head injuries, and those who experience it have the greatest risk of long-term health risks. 

“We know that traumatic brain injury carries an increased risk for a bunch of long-term issues like dementia, Alzheimer’s disease, and CTE [chronic traumatic encephalopathy], and this has really been made extra public because of the NFL,” said researcher Ashley C. Bolte. “Then there’s also anxiety, depression, suicide. The reasons why TBI results in increased risk for this isn’t totally known, and we think that our findings might provide a mechanism as to why.” 

Adequate healing time

When it comes to brain injuries, healing time is key. The researchers explained that this can be the trickiest part, especially when athletes are involved, because most head injury patients want to get back to their regular routine as quickly as possible. However, this study emphasizes the importance of prioritizing healing time, as it could be the best way to avoid future complications. 

“This provides some of the best evidence yet that if you haven’t recovered from a brain injury and you get hit in the head again, you’re going to have even more severe consequences,” said Dr. Lukens. “This reinforces that you have to give people an opportunity to heal. And if you don’t, you’re putting yourself at a much higher risk for long-term consequences that you might not see in a year but could see in a couple of decades.” 

You can add another name to the coronavirus-driven pile of businesses biting the dust. On Thursday, off-price retailer Century 21 Stores announced plans to start a sell-off of its current inventory followed by the closure of its 13 stores in Florida, New Jersey, New York, and Pennsylvania.

The chain has no connection to Century 21, the real estate company, or 21st Century, the insurance company.

Rebounding from 9/11 was easier than the pandemic

The decision follows nonpayment of policies by the company’s insurers that had been put in place to protect against losses stemming from business interruption during the COVID-19 pandemic.

"While insurance money helped us to rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," said Century 21 co-CEO Raymond Gindi. 

"While retailers across the board have suffered greatly due to COVID-19, and Century 21 is no exception, we are confident that had we received any meaningful portion of the insurance proceeds, we would have been able to save thousands of jobs and weather the storm, in hopes of another incredible recovery."

Bargains remain

Things like bankruptcies and business closings take time. In its announcement, the company said that shoppers will be able to take advantage of even deeper discounts throughout the stores and, for a limited time, online at c21stores.com. 

For Century 21 devotees, the company has put together a list of FAQs to help answer questions pertaining to sales, payments, rewards programs, and more. 

The coronavirus pandemic has spawned a number of scams, many seeking to take advantage of the uptick in online shopping. In the latest, scammers try to trick consumers into giving up their credit card information by claiming to have a package that needs to be signed for in order to be claimed.

The Better Business Bureau has warned that people across the U.S. have reported receiving text messages worded like this, or similarly:

"[Name], we came across a parcel from [a recent month] pending for you. Kindly claim ownership and confirm for delivery here," along with a link.

The BBB advises consumers to avoid opening the link because doing so will result in the theft of personal information. 

“Clicking the link either takes you to a form that asks for personally identifying information, or to a site that downloads malware onto your computer,” the BBB said. 

Avoid package delivery scams

To avoid having personal information stolen through this scam, the BBB recommends deleting the message right away. If you already clicked the link or entered your credit information, be sure to watch for any suspicious credit card charges. 

“Legitimate delivery services usually leave a ‘missed delivery’ notice on your door,” the BBB said. “If you receive a missed delivery notice, examine the form carefully to make sure it is authentic and only then follow their instructions.”

The BBB also recommends keeping track of what packages you’re expecting so you know roughly when they’ll arrive. 

“Don't click on any links; go to the delivery carrier's website directly, or log in and use the retailer's tracking tools,” the organization said. 

Consumers have been shopping online more than ever since the onset of the COVID-19 pandemic, and scammers were quick to take notice and attempt to make a profit. Scams related to the pandemic cost consumers nearly $12 million in just the first few months of the pandemic, according to the Federal Trade Commission. 

Target has pledged to increase its number of Black employees by 20 percent over the next three years in an effort to combat racial inequality. 

In a news release, the retailer said it intends to focus on hiring Black employees and encouraging their advancement in the company. The company also said it will also be conducting anti-racist trainings for leaders and team members, as well as developing programs to increase diversity in areas like technology, merchandising and marketing -- areas with low levels of Black representation. 

Target says it’s already made progress in boosting diversity across its workforce, noting that more than half of its stores are run by women and a third are managed by people of color.

“Inclusivity is a deeply rooted value at Target and we’ve had an ambitious diversity and inclusion strategy for many years for our guests and team,” chief human resources officer Melissa Kremer said in a news release. “We know that having a diverse workforce and inclusive environment not only creates a stronger team, but also provides the perspectives we need to create the products, services, experiences and messages our guests expect.”

Prioritizing racial equality

Protests stemming from the killing of George Floyd at the hands of Minneapolis police earlier this year have put pressure on companies to look at their diversity and inclusion practices. Black Americans still remain under-represented in many career areas. 

Walmart has also announced new initiatives in support of racial equity. Over the next five years, the retailer will be putting $100 million toward creating a new center on racial equity. 

“The goal of the center will be to address systemic racism in society head-on and accelerate change,” Walmart CEO Doug McMillon said in a June announcement. 

McMillon said his company also intends to increase recruitment and support for people of color.

Staving off the warning that it broadcast in July, United Airlines and its 13,000-strong pilots’ union have reportedly reached an agreement to avoid furloughs of nearly 3,000 pilots.

In August, the airline said it was on track to furlough or completely lay off 2,850 pilots by October 1, when the federal aid that protected those jobs was set to expire. 

“Any potential mitigation must achieve our goals: stop planned furloughs, stop displacements, and include long-term permanent gains for any short-term, fully recoverable modifications,” Todd Insler, chairman of the United Airlines chapter of the Air Line Pilots Association (ALPA), told union members in a note on Tuesday, according to CNBC.

Neither United or the union have provided details of the agreement, including how much time they’re going to give it or how it would give the airline sufficient working capital to keep the lid on furloughs. The agreement needs to be approved by union members and leaders.

United said in a statement that it’s still committed to reducing the number of involuntary furloughs. Company officials said they were “happy we were able to reach an agreement in principle with ALPA that can potentially save pilot jobs.”  

Holding out hope

With airlines’ hopes for a quick recovery dashed for the foreseeable future, airline labor unions are still nudging lawmakers to approve an additional $25 billion in aid that could keep jobs in place through the end of March 2021.

In a recent letter to House Speaker Nancy Pelosi, Senate Leaders Mitch McConnell and Chuck Schumer, Treasury Secretary Steve Mnuchin, and White House Chief of Staff Mark Meadows, the ALPA reminded those leaders that they need to follow through on the promises they've made.

“We are heartened by public statements by government leaders about a COVID-19 economic relief package such as ‘We’ll be helping the airlines’ and affirming that ‘a bipartisan agreement still should be reached’ as well as committing to ‘save the lives and livelihoods of the American people.’” wrote Capt. Joseph G. DePete, President Air Line Pilots Association, and Sara Nelson International President Association of Flight Attendants. 

“We appreciate these sentiments and urge you to return to the negotiating table to translate these words into action— action that will save jobs and ensure that the United States remains the world’s aviation economic engine.”

BMW of North America is recalling 713 model year 2021 330e and X5 xDrive45e, model year 2020-2021 X3 xDrive30e, and model year 2020 MINI Countryman SE ALL4 vehicles.

Loose welding beads may form a conductive path between the hybrid battery cells which could lead to a short-circuit.

This could increase the risk of a fire.

What to do

BMW will notify owners, and dealers will inspect and -- if necessary -- replace the battery modules free of charge.

The recall is expected to begin October 12, 2020.

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

Smith’s is recalling Murray's, Jarlsberg and Deli cheese dips that may be contaminated with Salmonella.

No customer illnesses have been confirmed to date.

A list of the recalled iteems, sold in plastic containers from May 15, 2020, and August 6, 2020, may be found here.

What to do

Customers who purchased the recalled products should not consume them, but return them to a store for a full refund or replacement.

Consumers with questions may contact Kroger customer connect at (800) 576-4377 Monday – Friday, 7:00 AM -- Midnight (EST), and Saturday and Sunday 7:00 AM -- 9:30 PM (EST).