Remember when clunky external hard drives used to set you back hundreds of dollars? Luckily, the days of paying big bucks for drive space are coming to an end, thanks to cloud storage. But what exactly is cloud storage, and is it really a more cost-effective way of backing-up your files? Let's take a closer look.
In a nutshell, cloud storage is a simply another way of archiving your photos, music and other files, except your files aren't stored in a physical drive in your home. They're stored in remote data centers typically owned and managed by hosting companies, like Google Drive, DropBox or iCloud.
Backing up your data this way has some distinct advantages. First, cloud storage allows you to access your archived files from multiple devices -- anyplace where you have an internet connection. And because your files are being saved remotely, your data will be protected and easily restored in the event your computer breaks down or gets lost.
The good news is, most cloud storage services will get you started with free storage space, with no strings attached. For example, Google Drive and OneDrive both start you off with 15GB of free space, so you can try things out and see if you like it.
If you decide you want more room, you can then sign up and pay a regular storage cost. Prices can vary, but many services will offer up to 1 terrabyte for only $10 a month.
While the advantages of cloud storage are clear, it might not always be ideal for all users. If you're a person who typically needs frequent access to large photo or video files, a newer flash drive with USB 3.0 transfer speed might be the best bet. Since Cloud storage relies on your internet connection, you won't be able to open up those heavy files as quickly.
So, before you can decide what storage option works best for you, determine what your needs are. With a little homework, you can store your files and save a few bucks, as well.
NEW YORK -- U.S. stocks closed more than 1 percent lower Tuesday as disappointing results from a number of bellwether companies pointed to weakening conditions, while an unexpected decline in durable goods orders also weighed on sentiment.
The day's losses were broad, with nine of the 10 primary S&P 500 sectors lower on the day, though tech was the biggest drag by far. The group lost 3.3 percent in its biggest one-day drop since November 2011, in the wake of results from industry bellwether Microsoft. Industrial shares fell, led by Caterpillar.
The two names were the biggest decliners on the Dow, but fellow components Procter & Gable (PG) and DuPont (DD) also tumbled.
Microsoft (MSFT) fell 9.3 percent to $42.66 a day after the main engine of its historic earnings power -- selling Windows and Office to big businesses -- showed signs of waning.
Heavy machinery marker Caterpillar (CAT) gave an outlook below expectations, warning that the recent plunge in oil prices would hurt its energy equipment business. Shares dropped 7.2 percent to $79.85.
There's clearly a lot of froth baked into certain areas of tech, while Caterpillar is giving tangible evidence that things can go down more than they already have.
"There's clearly a lot of froth baked into certain areas of tech, while Caterpillar is giving tangible evidence that things can go down more than they already have," said Jim O'Donnell, chief investment officer at Forward in San Francisco.
"People may not be aware of the sensitivities that heavy industrial guys have to the oil cycle, or what the ripple effects of oil's weakness will be. There are a lot of companies that are going to be adversely impacted."
With 24 percent of the S&P 500 having reported, 70.6 percent of companies have topped earnings expectations while 55.5 percent have beaten on revenue, according to Thomson Reuters data. That compares with the long-term average of 63 percent for earnings and 61 percent for revenue.
Still, many multinational companies disappointed this quarter, with the stronger dollar a common culprit. P&G was one of the companies pressured by a stronger dollar, sending shares down 3.4 percent to $86.49.
After the market closed, Apple (AAPL) rose 5.4 percent to $115 after it posted better-than-expected revenue growth, along with record sales of its iPhone line.
AT&T's revenue rose more than expected in the latest quarter. Yahoo reported its results and unveiled a plan for a tax-free spin-off of its 15 percent stake in China's Alibaba Group Holding (BABA), a first step in a highly anticipated process to unwind the holding, valued at roughly $40 billion.
Shares of AT&T (T) rose 1.8 percent to $33.40 after the bell, while Yahoo (YHOO) added 7.7 percent to $51.69.
The Dow Jones industrial average (^DJI) fell 291.49 points, or 1.65 percent, to 17,387.21, the Standard & Poor's 500 index (^GPSC) lost 27.54 points, or 1.34 percent, to 2,029.55 and the Nasdaq composite (^IXIC) dropped 90.27 points, or 1.89 percent, to 4,681.50.
Adding to the day's weakness, a gauge of U.S. business investment plans unexpectedly fell in December, another sign that slowing global growth and falling crude oil prices were having an impact on the economy.
On the plus side, consumer confidence posted its highest reading since August 2007. That helped indexes recover from their lows of the session; the Dow earlier fell as much as 2.2 percent.
Declining issues outnumbered advancing ones on the NYSE by 1,726 to 1,337, for a 1.29-to-1 ratio; on the Nasdaq, 1,710 issues fell and 1,029 advanced, for a 1.66-to-1 ratio favoring decliners.
The S&P 500 posted 41 new 52-week highs and 10 new lows; the Nasdaq composite recorded 57 new highs and 49 new lows.
What to watch Wednesday:
Federal Reserve policymakers meet to set interest rates and release statement at 2 p.m. Eastern time.
These selected companies are scheduled to release quarterly financial results:
Sometimes, Eli Valenzuela, CEO of First State Manufacturing, looks at his office in Milford, Delaware, and thinks, "This is too big."
Sure, at 800 square feet, the room is quite large. But the statement is more about Valenzuela -- who also founded the growing multimillion dollar industrial and commercial sewing company -- than the room itself. He's a man with humble beginnings, a man who remembers being called a pachuco or "street urchin" as a teenager in the projects of Corpus Christi, Texas.
Valenzuela has come a long way since then.
His journey from poverty to successful CEO all began with an advertisement for a mail order upholstery class that Valenzuela read in the back of a magazine. At the time, he was an Army tank operator in Germany with a lot of time on his hands. Valenzuela figured it would keep him busy and maybe allow him to earn a few extra bucks. He completed most assignments by hand and bought a secondhand sewing machine to finish his final exam.
Credit: Daniel Hess
Valenzuela's sewing training led to a civilian job at Dover Air Force Base in Delaware, where he and his wife, Sher, had moved to care for her mother. There, he installed new upholstery in C5's, the largest planes in the Air Force. Many days he came home furious at the substandard product the Air Force was paying plenty for. Half of the materials provided by contractors weren't made correctly, and Eli had to fix them before they could even be installed.
At night he took on odd jobs sewing boat cushions and repairing upholstery for local restaurants. His one-car garage, which doubled as his manufacturing space, was small and unheated. Big jobs were cut out on the driveway using the same electric knife that cut the Thanksgiving turkey. Sher worked from home as an editor for a local paper so she could care for their newborn son.
The Valenzuelas were building a life for themselves in Delaware when they received news that would change their world forever. Their son, Simon, was diagnosed with autism. The couple was told he would never read, write or communicate effectively. Doctors recommended special services that Simon should have to help him build basic survival skills. None of those services were covered by insurance.
The couple soon had to face a tough reality -- their paychecks wouldn't be enough to provide the help their son needed. They would have to create any opportunity to change that. So Eli and Sher did something most people don't dream of doing, even in the best of times.
In 1998, in rural Milford, where 65 percent of the houses were rentals and a warehouse ghost town stood as a reminder of a once-thriving industrial center, the Valenzuelas threw away traditional security, quit their jobs and started First State Manufacturing.
Credit: Daniel HessFirst State Manufacturing began operations in the founders' garage.Chapter 1: 'And Then Some'
No magic elves showed up to sew or even provide work for the Valenzuelas when they opened shop. Eli swallowed his pride to ask his mother-in-law for a $5,000 loan to start the business. Many a bill was paid with a credit card and a prayer. To find business, they literally drove around looking for possible clients.
At that time, all jobs were Delaware-based: covering worn seats in restaurants, sewing an awning here and there or refurbishing an auto interior. Their big break came from Eli's old employer, Dover Air Force Base. Knowing the poor quality the base was getting, Eli asked for an opportunity to take over refurbishment jobs. With the help of a small business counselor to navigate the government contract bidding system combined with their own more durable, more comfortable, less expensive prototype seat, First State won its first government job to reupholster the interiors of the C5 fleet at Dover. That contract opened the door to a myriad of military upholstery jobs, proving what Eli knew from the beginning -- they could do a better job for less money.
Small job or big, the Valenzuelas were determined their company would always go beyond what was expected. If they were recovering a seat in a restaurant, they didn't just clean around the area where they worked, they vacuumed the whole restaurant. Asked to develop a seat to fit one brand of military airplane, they developed one interchangeable to three.
At First State they call it the "and then some" principle of business. No job is done to minimum specifications; there is always something extra. It's a mantra that brought success, and then some, to the company.
Today, First State Manufacturing is housed in a 70,000-square-foot factory and employs more than 80 people. It has grown by a minimum of 25 percent each year for the last two years. Contracts run in the millions now, rather than the thousands. The company's international product line includes protective vests for military, police and umpires, window treatments for national hotel chains and protective headgear for pharmaceutical research. It recently started recovering and redesigning seats for metro subway and train systems.
"We didn't know how humble our beginnings were," Sher says of those naïve early days. "We weren't aware of what we couldn't do [so we just did it]."
Credit: Daniel HessLine supervisor Janelys Romero (right) was mentored by Eli Valenzuela (center) as soon as she immigrated to America, when she was just 16.Chapter 2: Paying it Forward
At First State, innovation of product is important, almost as important as the people who provide it. Finding and developing the right people for each job is essential to what the company does. Anyone at First State can suggest a better way to do something and expect to be heard. People visiting the shop often comment on how "happy" the place seems.
"It's because we're family," says Janelys Romero, a line supervisor for the sewing department. Romero can take technical drawings -- and sometimes just ideas from clients -- and turn them into perfect prototypes. She also enjoys teaching others at the company her valuable skill set -- because someone once did the same for her.
Credit: Daniel Hess
When she was just 16, Romero immigrated to Delaware from Guatemala to live with her brother, an employee at First State. She arrived with no grasp of English and barely any prospects. Romero's brother, unaccustomed to the American school system, asked Eli to help his sister get an education. "I've always had a heart for helping children," says Eli, who quickly agreed. Eli accompanied them to the local high school, where he translated for the two to get Romero enrolled. He also gave Romero work at the factory and, along with the assistance of her brother, taught her how to sew.
But in order for Romero to truly excel, Eli told her that her English needed to be much better, so she began taking classes at the First State factory -- a benefit sponsored by the company.
Today, Romero takes every opportunity to pay the kindness forward. She's also highly regarded at the factory and seen as a key to the company's success.
But Romero's story isn't unique at First State. Countless employees there have stories of how they were helped, often by Eli himself. At the company, people aren't categorized by their limitations; but rather, by their potential that can be cultivated. Each year at First State's annual employee appreciation day, the upper management spends time reviewing all employees and their skill set, learning what they bring to the table and how they want to grow. It keeps people in the company connected and fosters an environment where everyone from the cleaning staff to the top brass feels respected and looked out for.
"It's about knowing your people, their passions and their skills," says Sher. "Then putting them in the right place."
Credit: Daniel Hess"Train your mind to see the good in every situation," First State Manufacturiing marketing director Scott Crothers believes.Chapter 3: The Good in Every Situation
Scott Crothers, marketing director of First State, is constantly telling everyone, "Train your mind to see the good in every situation." It's another hallmark of the company philosophy, one that helped them get through a particularly dark time.
Right after 9/11, First State almost closed its doors. The company had concentrated most of its business on military contracts, but after the terrorist attacks, military planes were too busy flying missions to be shut down for refurbishment. The contracts that First State had counted on dried up as the Department of Defense shut down outside work to assess its military strength.
While the company limped along on the few commercial jobs it had, it started sewing American flags, which they it locally. For Eli, an Army veteran, it was the least the company could do to show support for the country.
But its former flood of business was now just a trickle, as was cash flow.
To lift morale, Sher remembers quoting Gen. George Patton: "Success is how high you bounce when you hit bottom."
With payroll to meet and suppliers calling for their money, layoffs were the next step. It was then that Sher read an advertisement for Small Business Administration Economic Injury Disaster Loans -- a government program set up to help companies struck by disaster. First State qualified. The $85,000 loan allowed it to pay suppliers and meet payroll as it expanded its product line to entice more commercial jobs, like hotel window treatments, padding for roller coasters and movie theater carpeting. In the end, it was able to keep all its employees and emerged a stronger company.
Post-9/11, diversification and flexibility are the keys to First State's successful business model. The company is also thriving thanks, in part, to the founding principals of tenacity, hard work and never backing down from any obstacle.
In the almost-20 years since First State began in that unheated garage, the Valenzuelas have faced many a challenge head-on, without considering failure as an option. And their unbreakable determination hasn't just benefited their growing business. Eli and Sher's son Simon, who was the driving force behind the company's very formation, has made great strides as well. The boy who was once told would never read, write or communicate effectively is now 24, a community college graduate and living in an independent group home.
"Dream big. You can always build something better in America," says Eli. "I do believe [things are possible] only in America," says Sher of the unlimited opportunities she imagines for her son and company. "Where else do you see that kind of beauty?"
Kim Hoey is a freelance writer based in Lewes, Delaware. During her career, she's covered everything from military operations in Africa and strikes in Australia to the Halloween parade down the street. She's written for Gannett, Reuters, AP, PARADE magazine and several Delaware-based publications. Her book, "Overcoming Misfortune: Children Who Beat the Odds," was used in college courses and can now be found in odd hole-in-the-wall bookstores and by chance.
Julie Jacobson/APYahoo CEO Marissa Mayer
SAN FRANCISCO -- Yahoo (YHOO) CEO Marissa Mayer is spinning off the company's prized stake in China's Alibaba Group Holding (BABA) in a move that will let Yahoo avoid paying billions in future taxes.
A newly formed entity called SpinCo will inherit ownership of Yahoo's 384 million Alibaba shares when the tax-free spin-off is completed toward the end of this year.
Tuesday's much-anticipated announcement about the management of Yahoo's 15 percent stake in Alibaba overshadowed Yahoo's results for the final three months of last year.
Yahoo's shareholders are far more interested in Mayer's plans for the Alibaba stake because it's currently worth about $39 billion. That's far more than the value of Yahoo's own online services, which have been struggling to generate more revenue for the past six years.
Investments in Alibaba, China's largest e-commerce company, and Yahoo Japan are the main reason Yahoo's stock has more than tripled since Mayer defected from Google to become Yahoo's CEO two-and-half years ago. Yahoo is retaining its nearly 36 percent stake in Yahoo Japan.
The handling of Yahoo's Alibaba stake is so important to shareholders that one activist investor, hedge fudge manager Jeffrey Smith of Starboard Value, has threatened to spearhead an attempt to oust Mayer if she didn't adopt a strategy that minimizes taxes. Smith also has been pressuring Mayer to commit to returning most of any future Alibaba windfalls instead of spending the money to buy other companies -- unless she embraces his call for Yahoo to merge with rival AOL (AOL) Inc. (publisher of this website).
A tax-free spin-off of the Alibaba stake ranked high on Smith's agenda.
Other stockholders also liked Mayer's decision. Yahoo's stock gained $3.49, or more than 7 percent, to $51.48 in extended trading.
YouTube
It was a joke that fell flat. So after animal lovers howled, GoDaddy has pulled its Super Bowl commercial where a little, lost pup braves the elements, finds its way home, only to be sold online and shipped off to a new home. Danica Patrick, GoDaddy's celebrity spokeswoman, drives the delivery truck.
Blake Irving, GoDaddy CEO, said in a statement, "At the end of the day, our purpose at GoDaddy is to help small businesses around the world build a successful online presence. We hoped our ad would increase awareness of that cause. However, we underestimated the emotional response. And we heard that loud and clear."
You could have heard the protest on Mars. Animal rights activists and animal lovers complained that the ad seemed to support puppy mills, which often connect with buyers online. Twitter slammers even had their own hashtag: #GoDaddyPuppy.
So less than 24 hours after the ad debuted on morning shows Tuesday, Irving pulled it from the Super Bowl commercial lineup. PETA, for one, is delighted.
"Go Daddy's now-yanked commercial showed that anyone who sells a dog online is a callous jerk," said PETA director Colleen O'Brien in an emailed statement. "The sale of animals online and from pet stores and breeders should be roundly condemned, and it was today. GoDaddy did the right thing by swiftly promoting adoption."
"Journey Home," the ad starring a 9-week-old golden retriever named Buddy, was GoDaddy's latest spoof on the Super Bowl commercial genre. After lampooning sexpot commercials in years past, GoDaddy decided to turn the tug-your-heartstrings puppy commercial on its fuzzy little ear.
Take that, Budweiser, which reportedly also has a lost puppy ad in this year's big game, and "won" the Super Bowl commercial war last year with it commercial about the love fest between a puppy and a Clydesdale horse.
"It's a twist on a convention, tongue-in-cheek," said Elizabeth Driscoll, vice president of GoDaddy, an Internet domain registrar and Web host company. "It's all in fun to make the point that we build websites to help [small businesses] sell stuff online."
Well, back to the drawing board. Irving said, "You'll still see us in the Big Game this year, and we hope it makes you laugh." He didn't reveal anything more about the commercial.
So you know, the real-life Buddy "came to us from a reputable and loving breeder in California," Irving said. He has a good home with a GoDaddy employee, serves as a therapy dog for GoDaddy employees in Scottsdale, and has the title "Chief Companion Officer."
"He's got an office with a doggie door and fire hydrant," Driscoll said. "He's got a great life."
Christian Petersen/Getty ImagesSeattle Seahawks quarterback Russell Wilson.
Wall Street is rooting for the Seattle Seahawks to win Super Bowl XLIX on Sunday, and it has nothing to do with New England coach Bill Belichick's arrogance, quarterback Tom Brady's perfect hair, or deflategate. It's all about the Super Bowl Predictor, one of many quirky indicators that purport to show what stocks will do for the year.
No one really believes that the Super Bowl Predictor has any real merit, but it does have an uncanny record of success -- better than just about any other formula that investor can use to see into the future.
Here's how it works: if a team from the National Football Conference or one with origins in the old National Football League wins the big game, you can rest assured that stocks will end in the green for the year. However, if a team from the defunct American Football Conference wins, the market is likely to fall.
Crunch the Numbers
Yes, it sound ridiculous, and serious analysts roll their eyes anytime it's mentioned. But still, it has an 81 percent accuracy rate, having correctly predicted the direction of the market in 39 of the previous 48 Super Bowl years, including the past six in a row. The last time the Super Bowl predictor got it wrong was back in 2008 when the New York Giants of the NFC edged New England, 17-14, but stocks plummeted following the financial crisis and the Great Recession.
So how have this year's combatants fared in their previous Super Bowl appearances? Seattle won the title last year, and the S&P 500 (^GPSC) rose 11.4 percent. Seattle lost its only other Super Bowl appearance, in 2006, but the deck was stacked in that game as it faced off against the Pittsburgh Steelers, one of the original NFL teams that moved to the AFC. (The S&P gained 13.6 percent that year) In fact, the success rate of the Super Bowl Predictor depends heavily on the Steelers' success. They've won six Super Bowls -- six years that Wall Street couldn't lose.
This is the Patriots' sixth Super Bowl. They lost in 1986 to the Chicago Bears (NFC), and stocks rose 14.6 percent. They lost again in 1997 to Green Bay (NFC), and the S&P had one of its best years ever, soaring 31 percent. The Pats went on to win Super Bowls in 2002, 2004 and 2005. The predictor was right on the team's first championship, as the S&P fell 23.4 percent, but it edged higher in '04 (up 9 percent) and '05 (up 3 percent).
Of course, the Super Bowl Predictor is silly. It has no basis in science, fundamental performance, the economy or of the other basic formulas investors use to assess the market. Still, I'm rooting for the Seahawks, just in case.
NissanNissan CEO Carlos Ghosn reveals the 2016 Titan XD pickup. It hits U.S. dealers late in 2015.
When Nissan (NSANY) has unveiled its 2016 Titan XD this month in Detroit, it said it's set to "shake up the highly competitive full-size pickup segment."
That's a tall order. The first Titan, introduced back in 2003, has never managed to make much headway against the Detroit stalwarts that dominate full-size pickup sales in North America. Does this new version stand a chance?
A New Truck That Doesn't Quite Line Up With Detroit's Mainstays
Originally, there was never going to be a second-generation Titan -- at least, not one that was engineered by Nissan. The old plan called for Nissan to sell a rebadged version of Fiat Chrysler's (FCAU) Ram. But that plan was shelved before the Ram-Titan's planned 2011 debut, sending Nissan back to the drawing board.
This new truck is the result. It looks the part -- in fact, it seems almost as if Nissan's stylists cut-and-pasted bits from recent Detroit pickups to make their own. It's brawny, with F-150-ish headlights and Silverado-ish creases on its flanks.
But the XD version that Nissan showed in Detroit is a little different from the Detroit mainstays. Unlike the Detroit trucks, all three of which come in separate and distinct light-duty and heavy-duty versions, the XD attempts to straddle that divide.
Nissan says that the XD will offer heavy-duty-ish towing capacity, "more than 12,000 pounds," and a payload capacity of 2,000 pounds, with "the fuel efficiency and affordability of a [light-duty] pickup." It'll be available with an in-between sort of engine, too, a new 5.0-liter V8 turbo diesel from Cummins (CMI), as well as a selection of V6 and V8 gasoline engines.
In other words, the Titan XD is what industry insiders call a "white space" product, a product that is aiming at a space between existing competitors. Nissan is gambling that some buyers will like having the heavier towing capacity and diesel engine in a truck that isn't quite as big and heavy as a Ford (F) F-250 Super Duty and the other heavy-duty Detroit models.
Will it work?
Nissan's Pickup Sales Have Nowhere to Go but Up
At least on paper, the market opportunity here is too huge for a growth-minded company like Nissan to ignore. Ford's segment-leading F-Series line is the best-selling vehicle of any kind in America and has been for decades; General Motors' (GM) Chevy Silverado is second.
The sales numbers for the Detroit trucks are enormous. Ford sold almost 754,000 F-Series pickups in the U.S. last year. But in comparison, the Titan was practically invisible: Just 12,527 were sold in 2014. It wouldn't take much to improve on those numbers -- and that makes the Titan XD an intriguing (and understandable) bet: Even a few thousand added sales would represent progress.
Nissan isn't alone. Its Japanese rivals Toyota (TM) and Honda (HMC) haven't been able to make much headway in pickups, either. Toyota even went so far as to build a factory in Texas (!) to make its full-size Tundra pickup, but sales have never come close to those of Ford, GM or Fiat Chrysler's Ram.
This Is One Market Segment Where Japan May Never Catch Detroit
It's not like the Japanese companies don't know how to build a truck. Toyota's small Hilux pickup is a huge seller in other parts of the world, and its midsize Tacoma pickup leads that segment here in the U.S. And the original Titan was well-regarded when it first debuted -- but it fell behind as the Detroit automakers spent big to improve their pickups over time.
That's the key. The huge sales volumes (and the huge profits) that Ford, GM and Fiat Chrysler make with their pickups mean that they can make massive investments in their truck programs. All three also have huge bases of commercial and industrial customers that they work with to improve their pickups and develop new gotta-have features.
That makes it unlikely that the Japanese full-size pickups will ever catch up to Detroit's massive sales numbers. But even if Nissan's new Titan XD turns out to be not much more than a niche product, that could still represent progress in America's biggest and toughest market segment.
Motley Fool contributor John Rosevear owns shares of Ford and General Motors. The Motley Fool recommends Ford and General Motors. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. To read about our favorite high-yielding dividend stocks for any investor, check outour free report.
David Rogowski/AOL
President Obama has announced that he's taking steps to safeguard our privacy. But, when it comes to our finances, that apparently entails providing free credit scores to customers of Chase (JPM) and Bank of America (BAC) and notifying people when they've been involved in a data breach. That's it, and that's a big mistake.
You see, while the White House refers to credit scores as "one of the best early indicators of identity theft," the truth is that fraud can take quite a long time to manifest itself in your credit score. And, when your score ultimately does get hit, not only will it be difficult to pinpoint the exact cause, but the damage will already have been done.
What Obama Should Have Proposed
Obama should have proposed legislation that would provide both free ongoing credit report access and monitoring to all consumers.
All credit scores are based on the information in major credit reports. Signs of identity theft -- such as fraudulent trade lines or change of address notifications -- would therefore show up in your credit bureau files as soon as identity theft rears its ugly head.
Credit bureaus are also renowned for making mistakes. The most reliable estimates show that one in five people have an error in one of their credit reports. But while the credit bureaus are the ones commandeering and misconstruing our financial data, it is our responsibility to monitor the credit bureaus' performance. And we're given one crack at each report per year. That doesn't seem quite fair, now does it?
Consumers Are Too Busy
"The solution we have currently -- monitor your credit -- is insufficient because consumers only have access to one free credit report per year under federal law," says Neil M. Richards, a professor at the Washington University School of Law. "And even if consumers check their credit regularly, this competes with other kinds of privacy self-management they are expected to keep up with. ... We place too many demands on busy individuals, so it's no surprise that everyone can't keep up with everything they are expected to do."
Complimentary ongoing credit monitoring -- a service that is not currently available -- would pay dividends in different areas. Credit bureaus would be conditioned to make fewer mistakes, which would lead to more predictive credit scores, more sound underwriting and a safer lending landscape. Consumers would also be able to track their financial progress and optimize their financial performance. Everybody wins.
As things currently stand, however, the best things that we can do are to regularly review our financial accounts and take commonsense steps to protect ourselves against fraud. That means double-checking your monthly bank and credit card statements, downloading and digesting one of your three major credit reports once every four months, and doing things like shredding financial documents, locking your mailbox, changing your passwords, and being careful about how you transmit financial information online.
And, if you ever suspect that you've fallen victim to identity theft, contact your financial institutions as well as the Federal Trade Commission. While it might be a pain to sort out, the good news is that you won't be held liable for unauthorized transactions made with your accounts.
Odysseas Papadimitriou is CEO of the credit card comparison website CardHub and the personal finance social network WalletHub.
Gary Curtis/Alamy
We are again going to experience a market correction or a bear market.
Since 1957, there has been a market correction (defined as a decline of the S&P 500 (^GPSC) by 10 percent or more) every 1.5 years on average. The last correction began in the summer of 2011, when the S&P 500 fell by 19 percent.
Corrections are different from bear markets. Bear markets are defined as market declines of 20 percent or more. Since 1929, there have been 25 bear markets, with the average downturn lasting 10 months. The losses in bear markets during this period ranged from 21 percent to 62 percent, with an average loss of 35 percent. We have had a bear market every 3.4 years. The last bear market ended in March 2009. We are obviously overdue for another one, although no one can reliably predict when it will occur. On average, it takes three years to recover from a bear market.
Now that you know the data, here's the bad news: Unless you prepare your brain for the next bear market, understanding this information will do you no good.
Timing the Bear Market
On Aug. 19, 2011, ubiquitous CNBC market gadfly Dennis Gartman declared: "We are in an unmitigated bear market." On that day, the S&P 500 index closed at 1,218. On Jan. 2, 2015, it closed at 2,032. Apparently, the "unmitigated" bear market quickly and forcefully "mitigated."
No one has the expertise to predict the next market correction or bear market. If a prediction turns out to be accurate, it should be attributed to luck rather than skill. Keep in mind, however, that those who guess right will almost universally claim it was skill. Relying on the crystal ball of any self-styled market "guru" is not an intelligent or responsible way to invest.
Typical Investor Behavior in Bear Markets
The typical investor buys stocks when the market is going up and sells stocks when the market declines. This is the opposite of rational behavior. When stocks have increased in value, expected returns are lower. Conversely, when stocks have declined in value, expected returns are higher.
Responsible investing involves rebalancing your portfolio when it is not aligned with your optimal asset allocation. This means buying assets that have underperformed and selling assets that have outperformed. Although this strategy is easy to understand, it can be difficult for many investors to overcome the emotional barriers involved with selling assets that have gone up and buying those that have gone down.
Learn from Brain-Impaired Investors
You can learn a lot from a study by researchers from Stanford University, Carnegie Mellon University and the University of Iowa. The researchers analyzed investment decisions made by people whose brains were impaired due to lesions. Their brain impairment related solely to their ability to feel emotions. They had normal IQs, and the parts of their brain responsible for logic and cognitive reasoning were unimpaired.
The participants included these brain-impaired individuals and others who had no brain impairment. Both groups were given the task of completing a gambling-like game, which was designed to reward rational behavior.
The brain-impaired group made the most profitable trades. The "normal" participants were affected by fear and risk-avoiding behavior. They reacted emotionally to early, unfavorable outcomes which clouded their judgment in subsequent trades.
A study co-author theorized that successful investors might be called "functional psychopaths." He meant these individuals were either better at controlling their emotions or didn't let their emotions overcome their ability to logically process information.
You need to start prepping your brain for the next big market decline, because that could be half the battle. You might not like being thought of as a "functioning psychopath," which is pretty strong language. "Successful investor" sounds much better.
Daniel Solin is the director of investor advocacy for theBAM Allianceand a wealth adviser with Buckingham. He is a New York Times best-selling author of the Smartest series of books. His latest book is "The Smartest Sales Book You'll Ever Read."
Have you recently gone into business for yourself? Check out these six ways to make tax law work for you.
1. Home-Office Deductions
Whether you are fully self-employed or do some freelancing in addition to your job as an employee, if you work at home, the government might subsidize what are generally considered personal expenses.
The key to the home-office deduction is to use part of your home or apartment regularly and exclusively for your money-making endeavor. Pass that test and part of your utility bills and insurance costs can be deducted against your business income. You can also write off part of your rent or, if you own your home, depreciation.
Many work-at-home taxpayers skip this break, either because they don't know about it, are afraid claiming it will trigger an audit, or are put off by the record-keeping hassle necessary to back up the deduction if challenged. In recent years, though, the IRS has come up with a simplified method that allows taxpayers to deduct $5 for every square foot that qualifies for the deduction. If you have a 300-square-foot home office (the maximum size allowed for this method), your deduction is $1,500. You get this tax-saver every year you have a qualifying home office.
2. Health Insurance Premiums
Although medical expenses are deductible, relatively few taxpayers really get to deduct them. First, you have to itemize to get this break (and most taxpayers do not); second, you get a deduction only to the extent your expenses exceed 10 percent of your adjusted gross income (7.5 percent for those age 65 and older).
But there's a big exception for the self-employed. You can deduct what you pay for medical insurance for yourself and your family whether or not you itemize and without regard to the 10 percent threshold. You don't qualify, though, if you are eligible for employer-sponsored health insurance through your job (if you have one in addition to your business) or a spouse's job.
3. Medicare Premiums
If you continue to run your businesses after qualifying for Medicare, the premiums you pay for Medicare Part B and Part D, plus the cost of supplemental Medicare (medigap) policies or the cost of a Medicare Advantage plan, can be deducted as health insurance premiums for the self-employed. That means you don't have to itemize to claim this deduction and you don't have to worry about the 7.5 percent-of-AGI test that applies to itemized medical expenses for folks age 65 and older.
4. Social Security Taxes You Pay
This doesn't work for employees. They can't deduct the 7.65 percent of pay that's siphoned off for Social Security and Medicare. But if you're self-employed and have to pay the full 15.3 percent tax yourself (instead of splitting it 50/50 with an employer), you get to write off half of what you pay. That deduction comes on the face of Form 1040, so you don't have to itemize to take advantage of it.
5. Retirement Tax Shelters
Once you start working for yourself, the door opens wide to tax-sheltered retirement plans. Unlike employees, whose options are pretty much limited to whatever their employer offers and an IRA, self-employeds can contribute pretax money to a simplified employee pension (SEP) or a solo 401(k), both of which have higher annual limits than regular individual retirement accounts. And you can still have a regular IRA, too.
6. Expensing
When you buy equipment for your business, you have two choices of how to share the cost with Uncle Sam. The first is to depreciate the cost, deducting the expenses over the number of years the IRS figures is the "life" of the equipment. A computer has a life of five years, for example, so you can write off the cost over five years. But it's not as simple as claiming 20 percent of the cost each year. For that computer, for example, you'd deduct 20 percent of the cost in the year you put it into service, 32 percent in year two, 19.2 percent in year three, 11.52 percent in year four, 11.52 percent in year five and the final 5.76 percent in year six. (Don't ask why it takes six years to write off five-year property.)
Expensing (also known as the Section 179 deduction) lets you deduct 100 percent of the qualifying cost in year one. Is there any wonder why it's the choice of many self-employed taxpayers? For 2014, up to $500,000 worth of equipment is eligible for the immediate write-off of expensing. (The limit for 2015 is currently $25,000, but Congress is likely to act to restore it to $500,000.)
Marcio Jose Sanchez/APApple CEO Tim Cook jokes with an employee at Apple headquarters in October.
It really wasn't a surprise to see Apple (AAPL) deliver a blowout quarter after Tuesday's market close. Anyone walking past an Apple store over the holidays likely saw a flurry of customer activity for the iPhone 6 and the even larger iPhone 6 Plus.
With revenue climbing 30 percent and earnings per share soaring 48 percent, it's a welcome reminder that you can never be too big to deliver market-thumping growth. However, let's dig into some of the gems in Apple's report that you may not have seen coming or that just aren't being widely reported.
1. It's All About the iPhone
Apple's game-changing smartphone has been its biggest driver in recent years, but it's never been as important as it is right now. It's the only of Apple's four product categories to post double-digit year-over-year revenue growth, and it accounted for a record 68.6 percent of the company's revenue during the holiday quarter.
Apple has never had so many of its eggs in the iPhone basket. It's certainly hard to complain about a blowout report with a record 74.5 million iPhones sold, but it would be nice to see another division playing along. After all, back out the iPhone and revenue at Apple declined nearly 7 percent since the prior year.
2. You're Paying More for Your iPhone
Apple experienced a 46 percent increase in the number of iPhones it sold during the quarter relative to last year's holiday quarter, but iPhone revenue came through with a 57 percent pop. Revenue growing faster than units means that Apple's average selling price is moving higher.
Divide iPhone revenue by the number of units and Apple's average selling price clocked in at a record $687 for the quarter, up nicely from an average $637 a iPhone a year earlier. The big reason for the boost is the introduction of the iPhone 6 Plus, priced at $100 more than previous smartphones because of its larger size.
3. Apple Watch Is Still on Track
Apple has been surprisingly quiet about the Apple Watch since unveiling the prototype late last year, but it's still coming. Apple CEO Tim Cook is sticking to the "early 2015" timeline for retail availability, expecting the smart watch to hit the market in April.
It's just as well. Apple can't rush this. It needs a hit to take the pressure off the iPhone, and with record iPhone sales -- and a record number of Android users switching to Apple -- the stage is set for a high-tech smartphone accessory to succeed. Some reports indicate that the battery life has been pretty meager, and that could be a deal breaker if it's not fixed.
4. Cook Concedes That It's Cannibalizing iPad Sales
It was another brutal quarter for the iPad, with Apple's tablet sales plunging 22 percent. That's not a surprise. What is a surprise is that Cook was pretty candid about the iPad's problems. He admitted that the upgrade cycle is longer for tablets than it is for smartphones. He also admitted that the Mac revival and booming iPhone performance are eating into iPad sales.
Cook even used the term "cannibalization," and he's right. As the iPhones get bigger, it makes sense. There probably isn't much of a need for someone with an iPhone 6 Plus to buy an iPad mini.
5. Apple Believes This Will Be the Year of Apple Pay
Apple's payment platform may appear to be getting off to a slow start, but you wouldn't know it from Cook's confidence. He sees this as the year that defines Apple Pay. It already has hundreds of banking and retail partners, and that's just in the U.S. market.
Cook noted during the conference call that a day doesn't go by that he's not hearing from an overseas company wanting in on Apple Pay. It remains to be seen when Apple will take the financial platform global, or even if it plans to make it available outside of Apple mobile devices.
Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. Check out our free report on the Apple Watch to learn where the real money is to be made for early investors.
Andrew Harrer/Bloomberg via Getty ImagesBy Dan Mangan
They break it? You need to fix it.
A strong majority of Americans would want officials to restore often-significant financial aid given to Obamacare customers in much of the United States if the Supreme Court rules the assistance is illegal, a new survey shows.
The Kaiser Family Foundation poll released Wednesday underscores the potential political peril Obamacare foes may face if the high court case goes in their favor, and subsidies for millions of insurance customers are ended by summer.
The poll reflects the fact that even as the Affordable Care Act continues to be viewed negatively by more Americans than those who view it positively -- 46 percent to 40 percent -- there is stronger reluctance among the public to see those who have been helped by the ACA lose its benefits.
The survey found that 56 percent said they knew "nothing at all" about the high court challenge, which targets subsidies issued to most customers of HealthCare.gov. The federal health insurance marketplace serves 37 states, and so far this year has seen sign-ups by more than 6 million people who qualify for subsidies.
Just 14 percent of respondents said they knew "some" or "a lot" about the case targeting the aid, which is available to Obamacare customers with low or moderate incomes.
But 64 percent agreed that "Congress should pass a law" to restore the HealthCare.gov subsidies if the Supreme Court said the ACA as written doesn't allow them. While Democrats and self-described independents were the most supportive of that view, 40 percent of Republican respondents said Congress should pass a remedy.
In states served by HealthCare.gov, 59 percent said they would want their state to create its own Obamacare exchange in the face of a high court decision ruling the federal exchange subsidies are illegal. And a slight majority of Republicans in those states, 51 percent, agreed that their state should take such action.
The vast majority of people who buy Obamacare plans on government-run exchanges qualify for tax credits to help them pay their monthly insurance premiums. If those subsidies aren't available, there is widespread agreement among insurance experts that enrollment in Obamacare plans would plummet because many people would find their retail prices unaffordable.
In the pending court case, plaintiffs argue that the ACA allows the subsidies to be issued only to customers of one of the 14 insurance exchanges established by individual states and the District of Columbia. Plaintiffs say the aid isn't an option for HealthCare.gov customers because the ACA only explicitly authorizes subsidies to customers of an exchange established by a "state."
The Obama administration disputes that, and has said it is confident the subsidies will continue for HealthCare.gov customers.
The Supreme Court is due to hear arguments March 4, and is likely to rule in June.
Fixes May Be Difficult
Because Republican opponents of Obamacare are in control of Congress, it may prove difficult, at best, for the administration to get a law passed that would allow subsidies to be issued to federal exchange customers if the Supreme Court rules for the plaintiffs.
And while some HealthCare.gov states may be inclined to set up their own exchanges in the face of such a decision, not all would do so.
Other findings by the Kaiser poll point to persistent lack of awareness about elements of Obamacare among uninsured people, the group that the ACA is specifically designed to help.
The survey found that only 17 percent of the uninsured know that Feb. 15 is the deadline to enroll in plans sold on Obamacare exchanges or to get health coverage to avoid a tax penalty for failing to have insurance.
Sixty percent of the uninsured said they didn't know the deadline, 11 percent gave a date "outside of the enrollment period and 13 percent say the deadline has passed or there is no deadline."
Less than half of the uninsured -- 42 percent -- know that subsidies are available to help people with low and moderate incomes, and a mere 22 percent said they know "at least something" about the Obamacare exchanges.
Little Support for Changing 'Employer Mandate'
The poll also found relatively weak support for a move by congressional Republicans tweak the ACA in order to reduce the burden on employers from the so-called "employer mandate."
Starting this year, that mandate requires employers with 100 or more employees working at least 30 hours a week to offer them health insurance or face a potential fine.
The House voted this month in favor of raising the mandate threshold to at least 40 hours a week.
Just 26 percent of people in the poll supported that idea; 40 percent said they were opposed.
But the poll also found that people's opinions on that question could be swayed after being given additional information.
Just 13 percent still agreed with boosting the work-week threshold and 51 percent were opposed after being told such a move would increase the federal deficit and lead more employers to cut hours for some full-time workers to avoid the requirement to offer them insurance.
But when respondents were told that subsidies for Obamacare-exchange plans would be available to low- and middle-income workers who didn't work enough hours to qualify for work-based insurance, support for increasing the work-week limit rose to 41 percent, compared with just 22 percent who remained opposed to that idea.
Facing angry parents and opposition from Republicans and Democrats as well as Wall Street, President Obama backed away from a controversial proposal to end a tax break on future use of 529 college savings plans, the New York Times reported.
The decision came just hours after Speaker of the House John Boehner of Ohio demanded the idea be withdrawn from the budget. Leading House Democrats -- such as Nancy Pelosi of California and Chris Van Hollen, a Maryland representative who is the ranking minority member of the Budget Committee -- had also pressed the administration to alter its intent.
As DailyFinance has reported, 529 plans are investment accounts in which people deposit after-tax funds. Interest paid helps the total grow and the gains are tax free on withdrawal so long as they're spent toward qualified educational expenses. All 50 states and the District of Columbia have such plans, according to NPR.
For the Elite?
Such plans can be an effective tool for college expenses, but the White House claimed that they were effectively a tax break for the wealthy. The administration has argued that less than 3 percent of families made use of 529s, and 70 percent earned more than $200,000 a year. As the Times wrote, 80 percent of the families make more than $150,000 a year. Those levels are considered as significantly above middle class, according to economists.
Obama wanted to take the estimated $1 billion cost of lost federal government revenue from the 529 plans and put the money into the American Opportunity Tax Credit, a tuition tax credit designed more for middle class families, by making it permanent, reported U.S. News and World Report.
Even if the White House was correct in its analysis, the move was too easily spun into an attack on a plan that could help the middle class, an argument that Republicans made. Boehner said that "529 plans help middle-class families save for college, but now the president wants to tax those plans."
In addition to angering affluent families that used the programs, the administration raised the ire of states that run the plans and Wall Street, which helps administer plans and makes money from them.
The controversy came only days after the State of the Union address, in which Obama laid out a series of proposals he claimed would help middle class families in a variety of areas, including higher education. For example, one of his ideas was to fund free community college education for all who would maintain their grades and graduate on time.
Rogelio V. Solis/AP
Now that Family Dollar (FDO) shareholders have voted to merge with Dollar Tree (DLTR) over rival suitor Dollar General (DG), what kind of makeover should shoppers -- and investors -- expect to see in the combined company's stores?
The answer lies in how the battle between dollar store giants was finally resolved last week. Family Dollar shareholders chose to merge with Dollar Tree over much larger competitor Dollar General in part due to antitrust fears. Family Dollar had estimated regulators would force 3,500 to 4,000 store closings under a Dollar General merger, versus the 500 closings that Dollar Tree now projects as it moves to close the deal.
So leaving stores mostly status quo for now will keep regulators happy. But there's also a business reason to avoid rushing in with dramatic changes to either format: The two companies operate under very different models.
At Dollar Tree, most items actually retail for $1. The company imports a substantial amount of merchandise from China, and it specializes in buying closeouts and promotional merchandise to pass on to patrons, so its product line is ever-changing. The company describes the Dollar Tree shopping experience as "fun, fast, and friendly, with surprising products engendering a thrill-of-the-hunt atmosphere."
Family Dollar, however, can be thought of as a dollar store in name only. Its price points range from $1 to $20 and beyond. Its inventory doesn't change with the same frequency as Dollar Tree's, because Family Dollar customers expect to see the same products from week to week. Being the friendly neighborhood discount store with a predictable selection worked well decades ago, but today it means that Family Dollar must compete with big-box titans like Walmart (WMT), only with less purchasing power, and this formula has hurt the company's results in recent years.
Where Change Is Likely
Shoppers may find the first notable differences on the food shelves of Family Dollar. These days, dollar stores are increasingly acting like grocers, since food and other consumables (beauty aids, household cleaning goods, etc.) pull shoppers through the door. Once you're in, dollar stores try to convince you to drop more nonconsumables into your shopping cart before checking out. Unfortunately for retailers, consumables carry slimmer margins than other products.
Dollar Tree has proven to be savvy at this game, increasing both sales and net income as it has added more food shelves and freezers to its stores. The grocery trend hasn't been as kind to Family Dollar, which has continually blamed the lower margins associated with food and other consumables for its shrinking profits.
Walk through a Dollar Tree's food aisle or scan its freezer section, and you'll find a sea of private-label $1 food items, evidence of the company's skill in purchasing from both food giants such as ConAgra (CAG) and multiple independent distributors.
Family Dollar's consumables, on the other hand, skew toward well-known brands. During fiscal 2014, nationally advertised brands from the likes of Procter & Gamble (PG), Nestle (NSRGY), and Colgate-Palmolive (CL) accounted for roughly 71 percent of Family Dollar's sales.
Dollar Tree's consumption credentials may help stretch the family's dollar. As the two companies combine their purchasing power and streamline distribution, consumers may see more private-label $1 food and other consumable items in Family Dollar Stores. Inserting as many of these products as possible among the labels loyalists expect to see could help revive Family Dollar's lagging profits.
Family Dollar Will Help Dollar Tree "Deal"
Family Dollar will extend some efficiencies to Dollar Tree as well. Roughly 200 out of 5,000 Dollar Tree stores operate under the brand name "Deals." Deals stores are closer in format to Family Dollar locations, with the average item price extending well past $1. Family Dollar's purchasing strength with global manufacturers means that Deals customers may soon see more attractive brand names in their local stores. If offering more sought-after products lifts sales, the Deals store base could expand more quickly than previously anticipated.
Dollar Tree may also benefit from Family Dollar's foray into the "sinful" side of consumption. Family Dollar began experimenting with wine and beer sales last year. Initial results have been promising, and the company will accelerate these sales from 500 stores to 2,000 by the end of the current fiscal year. While wine and beer can't be profitably sold at the magic $1 price point in Dollar Tree locations, they may be a great fit for Deals stores. And as with food, the two chains can combine their financial strength when buying from distributors to increase profits.
Dollar Tree is aiming to close the transaction this March, subject to satisfying the FTC and various state attorneys general. After that, there may be just enough change in the combined stores' selections to keep both shoppers and investors happy.
Getty Images
Investors are getting mixed signals out of the homebuilders this earnings season. Shares of D.R. Horton (DHI) rose 6 percent on Monday after it posted better-than-expected quarterly results. Unfortunately for the industry, D.R. Horton appears to be more the exception than the rule.
Two weeks earlier we saw KB Home (KBH) surrender 24 percent of its value after falling woefully short of Wall Street profit forecasts.
Lennar (LEN) also took a hit around the same time when it revealed that it has had to boost the incentives that it shells out for potential home buyers to close sales.
Last month it was luxury homebuilder Toll Brothers (TOL) painting an uninspiring portrait for 2015. It sees a flat year with limited power to increase prices the way it had during the past few years of the housing market's revival.
It was bound to happen. Home prices weren't going to go up forever, and now three of the four major homebuilders that have made announcements in recent weeks have issued warnings that didn't sit very well on Wall Street.
Then again, it's not as if D.R. Horton investors are feeling giddy these days. Even with Monday's pop, the stock is still trading slightly lower in January.
Things are getting iffy, and it could get even worse. Both KB Home and Lennar warned two weeks ago of gross profit margins contracting, and that finds Wall Street pros shaving their profit projections. The same analysts that, on average, were holding out for a KB Home profit of $1.70 a share this year are now settling for $1.27 a share.
Crashing the Open House
By some accounts, this should be a great time for the housing industry. Employment rates are improving, qualifying more potential buyers for mortgages. Copper prices have been plummeting, and that's an important cost component for homebuilders.
Real estate developers have made the most of the welcome environment by building out new properties. New residential construction in this country rose to its highest level since 2007, with homebuilder confidence in January at its highest point in nearly a decade.
Lost in the euphoria is the nugget that it's not really the middle class that's snapping up homes. Mortgage originations came out to roughly $1.12 trillion last year, according to the Mortgage Bankers Association. That's 39 percent below 2013's production, and the lowest tally since 1997. This means that cash buyers -- primarily the wealthy and international investors -- are the ones who have been driving the demand lately.
This doesn't mean that it isn't also getting easier for others to get in on the fun. Mortgage financing bellwethers Freddie Mac and Fannie Mae recently lowered the down payment required for the purchase of a property from 5 percent to 3 percent. Lenders are making sure that we don't repeat the subprime lending crisis by getting stingier on who gets approved for a home loan, but this could very well be a house of cards if prices begin to decline to send more homes underwater.
When you factor in other emerging trends -- including the popularity of renting versus buying, a glut of available homes, and median sale prices stabilizing -- it's a pretty risky time to snap up the homebuilders. The past few years were great, but clearly the market's correcting now.
Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. Building your portfolio? Find out our favorite high-yielding dividend stocks for any investor inour free report.
Kent Nishimura/Bloomberg via Getty Images
DETROIT -- Nissan is recalling nearly 768,000 SUVs worldwide to fix faulty hood latches and electrical shorts that could cause fires.
The larger Nissan recall announced Wednesday covers more than 552,000 Rogue small SUVs from 2008 through 2013 and Rogue Select SUVs from 2014. Snow and salty water can seep through the driver's side carpet to a wiring harness, causing electrical shorts. Nissan says there were reports of shorts but no fires or injuries. Most of the Rogues were sold in North America, but some were outside the region.
Dealers will inspect the harness and replace it if necessary at no cost to owners. Those without damage will be sealed.
The second recall covers nearly 216,000 Nissan Pathfinders from 2013 and 2014, and Infiniti JX35s from 2013 and QX60s from 2014. The secondary hood latch could stay open when the hood is closed. If the main hood latch is released and the secondary latch fails, the hood could open while the SUVs are being driven.
Nissan says some hoods have been damaged but no crashes or injuries were reported. Dealers will change the hood release mechanism angle and lengthen the release cable to fix the problem, at no cost to owners.
The faulty latches were discovered after Nissan recalled the 2013 Nissan Altima midsize car last year for the same problem, according to documents posted Wednesday by U.S. safety regulators.
Ford Recall
Separately, Ford (F) said it is recalling more than 221,000 cars and vans to fix problems with door latches and seat belts.
The biggest recall covers nearly 205,000 Ford Taurus, Lincoln MKS and Police Interceptor models in North America from the 2010 to 2013 model years. Ford says a door latch spring can become unseated, allowing the door to unlatch in a side-impact crash. The company says it knows of no injuries from the problem. Dealers will inspect the latches and replace door handles if needed.
The second recall covers just over 16,000 Transit Connect small vans in the U.S. from the 2014 model year. Seat belt fasteners can loosen, causing the belts to malfunction. Ford says the problem hasn't caused any crashes or injuries.
Dealers will replace and tighten the seat belt fasteners.
It's hard to sit on a flight or walk down a concourse these days without being offered an airline-branded credit card: A Visa (V) or MasterCard (MA) with the airline's logo promising perks ranging from free checked bags to free flights.
Should you hop aboard? The answer depends on factors including the amount of travel you do, whether miles are transferable, you can earn enough perks to offset annual fees and whether you pay off your credit cards monthly to avoid finance charges.
The cards below offer some of the best introductory deals and perks available. As you check them out, however, don't focus solely on signup bonuses. Also think about how much you spend monthly. If it's enough to regularly accumulate free flights or other perks from an airline you're loyal to, sign up. But if you tend to fly whoever's cheapest, don't pull out the plastic often, or most important, regularly find yourself paying interest on unpaid monthly balances, wave goodbye to these cards. The annual fees and interest charges will quickly offset any potential perks.
This piece of plastic made the top of our list for one reason: transferable points. The Chase Sapphire Preferred card is ideal for travelers who are not loyal to a particular airline but want a way to earn free airfare and lodging. Points can be transferred at full value to a number of different airline mileage programs, including British Airways Executive Club, Southwest (LUV) Airlines Rapid Rewards, United (UAL) MileagePlus, and Virgin Atlantic Flying Club, to name a few. You can earn 40,000 points, the equivalent of $500 cash or one free round-trip ticket, if you make $4,000 in purchases within three months of activating the card. Authorizing a second cardholder on your account within that period will earn you an extra 5,000 points.
Of course, with airline credit cards, there's always and catch, and it's usually the annual percentage rate. The Chase Sapphire Preferred card has an introductory APR of 15.99 percent, which means you'll want to be sure you can pay off your balance in full each month, or the card could wind up costing you more than it gives back.
But if you're responsible, oh, does it give back. After the introductory period has passed, account holders continue to earn two points for every dollar spent on travel and dining and one point for every dollar spent on all other purchases. And unlike many other reward programs, there are no blackout dates or restrictions, and account holders receive a 20 percent discount when redeeming points for travel.
The card also comes with other perks: no foreign transaction fees, secure chip-and-pin technology that ensures it will be accepted everywhere you go when traveling abroad, and the annual fee is waived for the first year (it's $95 in subsequent years).
Delta lets you to rack up points in a relatively short time and without much effort. Charge just $1,000 in the first three months, and you'll earn 30,000 points, the rough equivalent of $300 and enough miles to get you a round-trip ticket just about anywhere in the contiguous United States if you book your flight for Delta's "saver" days. You will also receive a $50 statement credit after you make a Delta purchase within this period.
Although it's co-branded with American Express (AXP), this card makes the most sense for frequent Delta travelers because double miles are accrued for each dollar spent on Delta purchases, and a single mile for all other purchases. Cardholders also get a free checked bag, priority boarding, a 20 percent discount on select in-flight purchases and discounted day passes to Delta Sky Club lounges. The card charges no foreign transaction fees, which makes it ideal for overseas travel.
Delta waives its annual fee ($95) for the first year. In subsequent years, the fee is easily recoverable: you'll save $100 on checked baggage fees after just two flights.
Like Delta, United also offers 30,000 bonus miles to new card members who make $1,000 in purchases in the first three months. And when you add a second authorized user, United will throw in another 5,000 bonus miles. If you frequently fly United, the points will add up quickly, because you'll earn two miles per dollar spent on United tickets, and one mile on all other purchases. Miles can be redeemed at any time because there are no blackout dates and they never expire.
United cardholders are also treated to a few perks, including the now de rigeur priority boarding and a free checked bag. Another perk: you'll receive two free United Club lounge passes annually, so you can kick back and relax in style and away from the airport crowds. The annual fee is waived the first year, and is $95 in subsequent years, not a bad price for the benefits.
This card boasts one of the most impressive introductory offers around, because it enables you to earn 50,000 Avios (British Airways' mileage equivalent) by spending $2,000 within the first three months. Once this period has passed, you'll continue to earn 2.5 Avios for every dollar spent on British Airways purchases and one for every dollar spent on all other purchases.
If you really want to cash in and take full advantage, spend $30,000 each calendar year and you'll earn a Travel Together Ticket. (Best advice: charge recurring monthly expenses to the card and pay them off promptly to prevent interest from accruing.) Your Travel Together Ticket, good for you and a companion, is good for two years and, depending on your destination, might even cover first class tickets. An annual fee of $95 applies after the first year, but could prove worth it for those able to make the most of all the card's benefits.
Southwest is known for its affordable airfare and exceptional customer service, so why not capitalize on the flight purchases you're already making with the airline by signing up for its co-branded Visa card? You only need to spend $2,000 in the first three months to earn 50,000 points. You'll also earn an extra 6,000 points just for holding onto your card for one year.
For every dollar spent with Southwest, you'll earn two points. All other purchases earn one. As with all the best airline credit cards, there are no blackout dates or other restrictions. Points also can be redeemed for car rentals, cruises, hotel stays, merchandise and gift cards, as well as airfare. The card also comes with no foreign transaction fees, up to two -- yes, two -- free checked bags, and exemption from itinerary change fees, which can set you back up to $150 at other airlines.
Unfortunately, there's a $99 annual fee, and it will appear on your first statement. But with two checked bags everywhere you go, it should be easy to recoup your investment.
Do you have experience with any of these cards? If so, let us know in the comments below or on the Money Talks News Facebook (FB) page.
While it might seem obvious to name jobs that are lucrative, a new report by Glassdoor, an online job review website, ranked the best jobs for 2015 -- and money is just one factor of many. The report identifies 25 jobs with the highest overall Glassdoor job score as measured by earnings potential (average annual base salary), career opportunities and number of open job listings over the past three months on Glassdoor.
The results may surprise you. For instance, while finance managers had the highest average annual base pay at $122,865, the position ranked No. 5 on Glassdoor's list. Meanwhile, software engineer, ranked No. 2 on the list because it had the most current job openings, 104,828 in total. Here are the top 12 jobs in 2015.
12. Mechanical Engineer
A mechanical engineer is responsible for designing, developing and testing mechanical and thermal devices, which can includes machines, engines and other tools and devices.
Job score: 4.4.
Number of job openings: 16,065.
Average base salary: $73,015.
Career opportunities rating: 3.3.
11. Solutions Architect
A solutions architect is responsible for designing and organizing computer systems and custom applications used by companies. While similar to information technology consultants, this role is more focused on the development and implementation of an interface that any employee can use to make their job easier and more efficient.
Job score: 4.4.
Number of job openings: 3,982.
Average base salary: $121,657.
Career opportunities rating: 3.4.
10. Sales Manager
A sales manager is responsible for management and leadership of a team of employees who sell and promote a company's product or services to increase revenue.
Job score: 4.4.
Number of job openings: 26,193.
Average base salary: $76,556.
Career opportunities rating: 3.3.
9. Data Scientist
A data scientist creates data sets and leverage existing data sets to analyze and make processes more effective and efficient for business. They also leverage large amounts of data to help guide business and other important decisions.
Job score: 4.4.
Number of job openings: 3,449.
Average base salary: $104,476.
Career opportunities rating: 3.8.
8. Product Manager
A product manager works closely with engineering, sales, marketing and all relevant teams to ensure a product meets overall strategy and goals, including maximizing business value and user experience.
Job score: 4.5.
Number of job openings: 10,294.
Average base salary: $113,363.
Career opportunities rating: 3.3.
7. Database Administrator
A database administrator is an IT professional responsible for maintaining and monitoring the database.
Job score: 4.5.
Number of job openings: 9,790.
Average base salary: $97,835.
Career opportunities rating: 3.4.
6. Marketing Manager
A marketing manager is responsible for planning the marketing strategy and programs for companies, which can include product development, trend monitoring, customer targeting and acquisition, email marketing, and advertising, among other duties.
Job score: 4.6.
Number of job openings: 14,647.
Average base salary: $100,130.
Career opportunities rating: 3.4.
5. Finance Manager
A finance manager is responsible for managing the finances of companies. Regular duties include producing financial reports, budgets and profit projection.
Job score: 4.6
Number of job openings: 9,728
Average base salary: $122,865
Career opportunities rating: 3.4
4. Human Resources Manager
A human resources manager oversees recruiting, interviewing, hiring and all employee-related needs within an organization.
Job score: 4.6.
Number of job openings: 8,073.
Average ase salary: $96,443.
Career opportunities rating: 3.6.
3. Business Development Manager
A business development manager works on strategic partnerships to help an organization improve its market position and financial growth.
Job score: 4.6.
Number of job openings: 11,616.
Average base salary: $94,907.
Career opportunities rating: 3.5.
2. Software Engineer
A software engineer applies the principals of software engineering to the design, development, maintenance, testing and evaluation of the software, applications or systems that make software work.
Job score: 4.6.
Number of job openings: 104,828.
Average base salary: $98,074.
Career opportunities rating: 3.3.
1. Physician Assistant
A physician assistant is a certified medical professional who practices on a team under the supervision of a physician. They are educated to examine and diagnose patients and provide treatment.
Image Source/Getty Images
The largest prepaid mobile phone service company in the country will pay $40 million to settle charges that it duped consumers with the idea they would be getting unlimited data, the Federal Trade Commission said on Wednesday.
TracFone -- which also markets Straight Talk, Net10, Simple Mobile and Telcel America service -- was accused by the FTC of duping its customers with the idea they were getting unlimited data. But those who exceeded certain limits were either cut off or had their data access slowed to a crawl, the FTC said.
"The issue here is simple: when you promise consumers 'unlimited,' that means unlimited," Jessica Rich, director of the FTC's Bureau of Consumer Protection, said in a statement. "This settlement means that Straight Talk, Net10, Simple Mobile and Telcel America customers will be able to get money back from the company for services the company promised but didn't deliver."
Throttling Data
If you had an "unlimited" plan from 2009 through December with TraceFone, Straight Talk, Net10, Simple Mobile or Telcel America, you can file a claim for a refund through the FTC's website. Those whose data was either slowed or cut off are eligible. If you're unsure, the FTC recommends you still file a claim.
TracFone used a process known as throttling to slow or stop data flow to high-use consumers. By cutting data speeds by up to 90 percent, those who were streaming video or using other data-intensive services were effectively shut down. But TracFone went even further, the FTC said. Some consumers were actually completely shut down, including the termination of their talk, text and data. The slowing policy generally went into effect after the use of 3GB of data and suspension took place at 4GB-5GB of data use, the FTC said.
In addition to refunding the $40 million, TracFone agreed to clearly disclose its policies and no longer make deceptive marketing claims about its plans. The FTC lodged similar charges against AT&T (T), but those are being contested in court.
You may find yourself in some tough situations this winter. Here are a few tips to overcome common cold-weather obstacles.
First, did you know that you can get your car out of the snow without paying for a tow truck? That winter snowfall can wreck some serious havoc on your car, but keeping a bag of cat litter in your trunk will save you in a pinch.
If you get stuck with spinning tires in the snow, just pour some over the tires. You'll get the traction you need and be on your way without having to call for extra help. If you don't have kitty litter or salt on hand, your car's floor mats will work, too.
Another trick will save you money and stress this winter is DIY windshield washer fluid. Just mix 2 quarts of rubbing alcohol, with 1 cup of water and 1 teaspoon of dish detergent. This solution won't freeze, allowing you to quickly clean and go.
While the weather outside is frightful, stay warm and safe with these cold season hacks. There's no reason to let snow and ice put a freeze on your winter.
Remember when clunky external hard drives used to set you back hundreds of dollars? Luckily, the days of paying big bucks for drive space are coming to an end, thanks to cloud storage. But what exactly is cloud storage, and is it really a more cost-effective way of backing-up your files? Let's take a closer look.
You may find yourself in some tough situations this winter. Here are a few tips to overcome common cold-weather obstacles.
