And now for something completely the same - another Toyota Recall

A lot of automotive recalls have happened this year. The most well-known auto recall this year probably came from Toyota when a recall on the defective accelerator pedals happened. An additional Toyota recall shows that at least the automaker is consistent. This recall isn’t really as noticeable considering there are less cars with issues. Only a couple of model years on two different cars offered by the automaker have the defect in question. Toyota is still trying to recuperate from the previous recall meaning it will get hurt a bit from this one also.

Yet another Toyota recall

There have been several recalls from Toyota. Toyota recalls are quite regular right about now. There has also been a new recall just announced to the public. The problem being addressed by this Toyota recall is with the engines in more than 1.3 million cars. The engine control module needs fixing. The engine problem makes it so the motor won’t start with a stall while driving. Also, says CNN, shifting could be affected as well. There have been accidents from the problem. Of course, the accidents are few.

Fix 1 million cars needing help

The Toyota Corolla and the Toyota Matrix are the two models being recalled. The model years are from 2005 to 2008. The defect in the 1ZZ-FE engine is within the circuit board in the Engine Control Module, where the circuit board can crack. The engine may have the shifting affected in it. Also, the engine might shut off while you drive. The engine might have troubles starting. That is also common with this problem. The U.S. has 1.13 autos being affected by this. In Canada, the automobiles affected total only 200,000. According to the Los Angeles Times, the total is being brought up from this for cars recalled this year for Toyota. The total has now hit about 10 million. The models are investigated by the National Highway Traffic Safety Administration.

Toyota can’t do better after market share

Toyota has had market share in U.S. auto sales. This has been for the last few years. The lead was tenuous at best, and this may be the straw that breaks the camel’s back. Numerous companies would like to take back their business. These contain Ford, General Motors and Chrysler.

Further reading

CNN Money

money.cnn.com/2010/08/26/autos/toyota_corolla_recall/

LA Times

latimes.com/business/autos/la-fi-autos-toyota-20100826,0,7145846.story?track=rss

Payday loan debt collection scams

Illinois has hit some troubles lately. These are mostly pay day loans debt collection scams. Current and previous payday loans no faxing borrowers have had their personal information stolen by con artist debt collectors. The phone is what the false payday loans collectors use to call and bully these individuals by threatening jail time and lawsuits. Lisa Madigan is the Illinois Attorney General that issued a consumer alert. This was done as the pay day loan debt scam is prominent. Article source – Be on the lookout for payday loans no faxing debt collection scams by Personal Money Store.

Intimidation and threats used by debt collection scammers

Bogus payday loan debt collectors have been the primary complaint coming to the Illinois attorney general’s office most recently. Recpients of pay day loan scam calls used online loan company before. Consumer Affairs reports that they had all paid the debt already by the time they got the call. They say the scammers know their names, social security numbers, employer and account with the bank numbers. Victims think that the scammers are real because of all the details the caller has. The scam artists use threats and intimidation, like lawsuits and jail, to dupe them into authorizing a direct withdrawal from their checking account. Sometimes, consumers are tricked to sign promissory notes and fax them to the bogus collectors.

Money lender lose business

Illinois pay day loan customers aren’t the only ones getting harassed by debt collection scammers. Within the nation, scams have popped up all over, says Wallet Pop. These include Ohio, Colorado, Florida, Indiana and other states. Scammers say they are from places that are a little bogus. These consist of Morgan and Associates, Federal Bureau of Investigators, DNR Recovery, DNI Recovery, Legal Accounts Association, Department of Law and Enforcement, CashNet USA, America Legal Services, Pay day and ACS. Most of the names are fake. There is a real one coming from CashNet USA. It is one of the only real ones. On its site, CashNet USA has posted a warning about the scam.

Illegal to harass with debt collection

The Fair Debt Collection Practices Act protects consumers. Debt collectors can’t even call between 8 am and 9 pm. Threats such as lawsuits or arrest aren’t things they can do. Also, they cannot ask for more money than owed or tell a third party about a consumer’s debt. Madigan’s office has reports of numerous victims of the payday loan scam payday hundreds of dollars because of it. Madigan gave some advice for anyone contacted by scammers via an Illinois TV station, WIFR.

People don’t go to jail for failing to pay a debt in this country.

Never give out any personal information over the telephone, especially bank account numbers or credit card numbers.

When in doubt, ask the debt collector to produce documentation that qualifies the debt they seek to collect.

Contact the original creditor to confirm if the debt has been paid. If not, confirm that the debt was sold to a third party collector before making a payment.

Further reading

Consumer Affairs

consumeraffairs.com/news04/2010/08/il_payday_lending.html

Wallet Pop

walletpop.com/blog/2010/08/26/warning-issued-over-bogus-payday-loan-debt-collector-calls/

WIFR

wifr.com/news/headlines/101497999.html?ref=999

Jeep Grand Cherokee fire danger under investigation

A federal investigation has been launched by the National Highway Traffic Safety Administration. The subject is an SUV. The Jeep Grand Cherokee may possess a design defect. The number of possibly affected autos numbers more than 3 million. A petition for an investigation was turned in by the Center for Auto Safety to look into a possible severe safety issue. A fire hazard is what is being looked into, caused by poor placement of the fuel tank. Post resource – Feds investigate possible defects in Jeep Grand Cherokee by Car Deal Expert.

This may be no grand problem in the Jeep Cherokee

The Jeep Grand Cherokee is being investigated. The National Highway Traffic Safety Administration has launched the inquiry, according to CNN. The vehicles in question are from model years 1993 to 2004. The issue is with the fuel tank. The Center for Auto Safety has posited that the design makes for a fire hazard. There have been 172 crashes involving a fire, resulting in 254 deaths in Jeep Grand Cherokees. Chrysler responded, albeit somewhat cryptically. The business insists their autos meet all safety standards.

The supposed problem may be the gasoline tank

The gasoline tank within the Jeep Grand Cherokee is plastic. The tank is mounted just below the bumper, to the rear of the back axle. That’s where the risk lies, according to the CAS. The organization, founded by Ralph Nader, insists the tank can rupture in rear end accidents and thus poses a fire danger. The NHTSA has been studying accidents involving Jeep Cherokees, as outlined by ABC. There were 44 crashes where fire caused by the crashes caused more damage than the actual crashes. There were 55 deaths which were observed in crashes, where the fire, and not the crash, killed those involved. Fires were involved in 10 crashes and 13 deaths in rear ending accidents.

Ford Pinto’s thunder stolen by Jeep

Jeep has offered a skid plate as an option for the Grand Cherokee that covers the fuel tank, however only as an add-on for off-road driving. The 1999 model did just a little more. That’s when a brush guard was added. Jeep Grand Cherokee models from 2005 onward possess the fuel tank within the middle of the vehicle. Though the problem is not the exact same in numerous respects, the greater risk to the top of the tank being sheared off is comparable to the defect in the fuel tank of the Pinto.

Additional reading

ABC News

abcnews.go.com/Blotter/jeep-grand-cherokee-abc-station-reported-gas-tank/story?id=11473270 and page=1

CNN Money

money.cnn.com/2010/08/24/autos/Jeep_Grand_Cherokee/index.htm

Vehicles may also turn out to be superstars

If a auto is featured intensely in an iconic movie or television show, it can make that automobile famous. Sometimes about as famous as every little thing else in the movie or show. The automobiles from classic shows and movies are famous too, and may command high selling prices as a result. Granted, it’s often because of “product placement,” but still. Article source – Cars can also be stars in their own right by Car Deal Expert.

Scenes are easy to steal behind the right wheel

Chances are just about anyone can think of a couple of famous autos from TV or motion picture that have a special place inside their hearts. Some people go as far as to purchase the automobile from the movie or show they remember. The following list is short however distinguished.

• The Chevy Camaro; many a TV show and movie have had Camaros in them. There was a recent “Lost” auction of props and other things from the show. One of the lots was a Camaro from several episodes. There was a classic and brand new Camaro within the “Transformers” film sequence. Given, it was probably due to Gm paying a lot for it, but it certainly helped their marketing and sales.
• The Ford Mustang: the movie “Bullitt” featured a 1968 Ford Mustang GT Fastback driven by Steve McQueen. Other famous Mustangs include a 1967 Shelby GT500 and a 1973 Mach 1 from the remake and original, respectively, of “Gone in 60 Seconds.” Ford was not oblivious to any of this at all. They offered a “Bullitt” package on the 2001 Ford Mustang.
• The DeLorean DMC – 12; the only automobile ever made by DeLorean was made a star by “Back to the Future”. When it came out, though, it was not the smash hit the movie was. It was considered an underpowered mechanical lemon that happened to look cool.
• The Dodge Charger. The automobile chasing Steve McQueen in “Bullitt” was a 1968 Charger. The Charger was also famously one of the vehicles in Quentin Tarantino’s “Deathproof,” and was also the “General Lee” within the sequence and film version of “The Dukes of Hazard.”
• Pontiac Trans Am – The Trans Am was “KITT” from “Knight Rider,” and it was within the “Smokey and also the Bandit” films.

Near but no cigar Moneypenny

The ultimate movie auto is the Aston Martin DB5. That’s why a DB5 used in “Goldfinger” went for more than $2 million various years ago. James Bond flirts almost as much with Aston Martin as he does with Moneypenny. ”Goldfinger” made the automobile famous. The auto also made it into “Goldeneye” and “Casino Royale”. A late 60s DBS was in “On Her Majesty’s Secret Service.” The newer generation of Aston Martins, for instance the Vanquish, were featured in “Casino Royale,” “Die Another Day,” and “Quantum of Solace”. Not a soul expects the link between Bond and Aston Martin to die. The motion picture sequence may have given the car maker the Midas Touch.

Apple seeks patent to stop everyone jailbreaking iPhones

Copyright laws say jailbreaking your iPhone is currently legal , despite the fact that Apple is fairly mad about all of the stuff going on with their iPhone devices they have put together. Apple wants their technology to be exclusive to itself. The Register made reports on the patent apple seeks that could be “covering an elaborate series of measures.” This will make sure to “protect iPhone owners from thieves” or anybody else a user wants from their iPhone. That patent, entitled “Systems and Methods for Identifying Unauthorized Users of an Electronic Device,” would protect Apple liability in jailbreaking exploits, but it would also allegedly lock down a user’s phone.

Anyone can see a jailbroken iPhone’s info

Jailbreaking your iPhone makes your personal data accessible to identity thieves; that’s Apple’s story, and also the company is sticking to it when it comes to the iPhone and jailbreaking. Apple’s proposed patent identifies numerous ways that unauthorized users could activate a jailbroken iPhone’s camera remotely, or track geotagging info and other private data. If the patent is approved, Apple would be able to tag and lock down any jailbroken iPhone it detects – and also the business says it is for the user’s own good.

Apple and Big Brother one within the same

If a user’s iPhone suddenly shows a rise in memory usage, The Register suggests, then Apple could identify the phone as having been jailbroken, as such activity is, in Apple’s estimation, consistent with hacking programs. If the patent is approved, Apple may also be able to see which iPhones are unlocked to work on other networks besides AT and T. The Register reports that Apple would also be able to detect “fraudulent use” by tapping into the iPhone’s accelerometer to determine whether the device is being carried by “thieves in transit.” Thus, the company believes that such new security methods as required voice-print identification is necessary, although technical experts and consumer rights groups are having a field day with that idea.

Patent changes camera rights

Apple can be able to activate your iPhone camera if the patent is approved. Steve Jobs would have the right to see what is going on everywhere you are. Regardless of how much you like the style and convenience of Apple devices, do you would like Apple to be able to turn on your camera at any time it chooses? Steve Jobs could know more about your life than anything else at that point.

More on this topic

The Register

theregister.co.uk/2010/08/20/apple_jailbreak_patent/

Savings and investments can't continue considering banks' lowest interest rates ever

Debt cutting is popular now with numerous wanting more money in savings. A double dip recession is the main concern for the federal Reserve which intends on keeping interest rates as low as possible. Banks are getting fairly rich off the low interest rates. The low rate of interest has created a wide disparity between what financial institutions can collect from borrowers and what they have to pay depositors for their money. Some analysts are saying that when Fed monetary policies shore up the banks it bailed out with billions, they are an “invisible tax” on savers, investors, pensions and endowments.

No incentive to save

U.S. banks are paying savers the lowest average rates on record. Bloomberg did a study with Market Rate Insight suggesting that 0.99 percent was about how much in July was paid towards interest on checking, savings, money market and certificates. Market Rates measured anything that was a rate or bonus paid by 1,300 banks and credit unions in the whole American country. Between January 2004 and July 2010 was when more savings rates were tracked. Savings rates decrease while national unemployment increases. If only unemployment would go down. Then savings rates would get to go up.

Banks make paying debt harder

The Federal reserve is keeping interest rates at almost zero. This is helping banks but leaving average citizens out to dry. Debt is hard to pay down for those trying to save and have less debt. Daily Markets’ Larry Doyle explained that those with fixed incomes are having a bad time with low interest rates. Savings accounts generate a negligible returns. Credit card issuing banks make sure they raise interest rates on credit although it is costing almost nothing to get it themselves.

Low interest rates an invisible tax

The Fed’s rate of interest policy might be part of the economic problem. The New York Times had an article by Gretchen Morgenson explaining this. Investors and savers lose about $350 billion a year with this “invisible tax” the Fed is giving, says Todd E. Petzel of Offit Capital Advisors talking to Morgenson. He got that figure by starting with about $14 trillion in debt issued by the Treasury at an interest rate near zero. 3 percent has been the typical rating. That is the average over time. That makes current rates too low by 2.5 points. On $14 trillion, 2.5 percent adds up to $350 billion a year in lost income to savers, investors, pensions and endowments. The money lost is more than 2 percent of gross domestic product and almost 3 percent of disposable personal income.

Additional reading

Bloomberg

bloomberg.com/news/2010-08-24/u-s-banks-paying-depositors-record-low-interest-rates-market-rates-says.html

Daily Markets

dailymarkets.com/stock/2010/08/24/invisible-taxes-loan-sharking-usury/

New York Times

nytimes.com/2010/08/22/business/22gret.html?_r=2 and amp;ref=gretchen_morgenson

Overflowing potash demand is catalyst in BHP hostile takeover bid

It appears like there is going to be a push for more potash in agriculture. Potash is essentially potassium, one of the critical nutrients that make modern agricultural yields possible. Crops need potassium very much in its fertilizer. Fertilizer uses potash as its source of potassium. The world desperately needs potash to make food. Because there is no futures market for potash, other minerals have outperformed it in a recent commodities market boom. The potash demand is actually supposed to go up now. It appears like a Canadian potash company will be taken over in a hostile manner because of an Australian minerals business that wants to profit.

BHP tender stopped with potash urging shareholder

Potash Corporation of Saskatchewan is known as Potash by numerous. It is also the company that controls much of the potash market in the world. The Canadian fertilizer company should be concerned about a business in Australia. The big minerals extraction company in Australia, or BHP Billiton, is trying to get their hands on the company. The New York Times reports how much BHP is willing to pay to get their hands on the company. The offer was $ 130 a share. The offer wasn’t enough, if you ask the Potash board. In response, BHP launched a hostile takeover of Potash by beginning a tender offer for the exact same price, which means BHP is dangling the cash directly in front of shareholders. Potash is trying to get a better offer from another when getting shareholders to stop selling to BHP.

Potash extremely important to feed the world

Potash is produced in 12 countries. Potash is dominated by Canada, Russia, Belarus and Germany. This is because they create 75 percent of all the potash. Reuters reports that potash is the generic term for different compounds containing potassium, a critical ingredient in fertilizers. Plants will to better with less disease after having some potash. They also could be better quality and have a greater quantity. It is very important get potassium in fertilizer. Potash is the only source for that. For years, the price of Potash has been very volatile. Ten years ago it sold for under $ 150 a ton. In the global food crisis of 2007-08, it went up to $ 1,000 a ton. Since then, it has crashed to about $ 350-$ 375 a ton.

More people want Saskatchewan potash

Potash has been ignored most recently. It took the moves by BHP for anybody to acknowledge its existence. Entrepreneur reports that if the growth in potash demand over the last five years continues, by 2011 the world can be unable to produce what it needs to sustain the food supply. You will find many countries wanting more meat making it so potash is more needed. Examples of these countries are Latin America, China and India. Another factor is exploding growth in biofuels like ethanol, which the UN said could meet 25 percent of the worlds energy needs in the next 20 years. Both of these trends are already spiking wheat and corn prices, and portend a huge increase in potash demand. It isn’t all that easy to make more potash available. You will find more than 25 years put into 85 percent of the potash mines right now. It appears impossible to produce more potash. The Saskatchewan company experiences this problem.

Further reading

New York Times

dealbook.blogs.nytimes.com/2010/08/20/bhp-begins-tender-offer-for-potash/?src=busln

Reuters

reuters.com/article/idUSTRE67J2SQ20100820

Entrepreneur

entrepreneur.com/tradejournals/article/166229304.html