Thursday, May 2, 2013

Payday loan complaints rise - The Spokesman-Review

Here's a news item from the Associated Press: BOISE, Idaho (AP) ? Idaho financial regulators are logging more complaints from consumers about the practices of payday lenders. The Idaho Department of Finance received 56 complaints about payday loans last year, up from 38 in 2011. The Idaho Statesman reports (http://bit.ly/13INm9e ) the agency also recently issued nine cease and desist orders against online payday lenders, with most targeting out-of-state websites. Payday loans are often considered a predatory form of lending because of their high fees and interest rates. Consumer Finance Bureau Chief Michael Larsen says most of the complaints from consumers are about illegally garnished wages or lenders pushing through unfinished loan applications. Lawmakers have tried but failed in recent years to impose limits on the industry. Idaho caps payday loan amounts at $1,000 but doesn't regulate interest?rates.

Source: http://www.spokesman.com/blogs/boise/2013/apr/30/payday-loan-complaints-rise/

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Wednesday, May 1, 2013

No end in sight for Fed stimulus as inflation sags

By Pedro Nicolaci da Costa

WASHINGTON (Reuters) - The Federal Reserve's debate over monetary policy could begin to shift away from the prospect of reducing stimulus toward a discussion about doing more, given the signs of economic weakness and slowing inflation.

But officials are not there yet, and that wariness has been sensed by financial markets, where the dollar has retreated in recent days and bond yields have declined in anticipation that the central bank will keep the policy pedal to the metal.

At a two-day meeting that wraps up on Wednesday, the Fed is widely expected to maintain its monthly purchases of $85 billion in bonds to support an economic recovery that is nearly four years old but still too weak for the job market to truly heal.

With the central bank's favored inflation gauge slipping and employment growth faltering, policymakers could again find themselves in the uncomfortable position of having to shift from talk of curbing stimulus to the possibility of doing more.

Currently, analysts see the Fed buying a total $1 trillion in Treasury and mortgage-backed securities during the ongoing third round of quantitative easing, known as QE3. Until recently, analysts had believed the Fed would start taking the foot off the accelerator in the second half of the year.

Now, things are looking a bit more shaky.

"Expectations for tapering off of the Fed's outcome-based purchases have been pushed back due to recent softening in the economic data," according to a report from the private sector Treasury Borrowing Advisory Committee, released on Wednesday.

The housing market continues to show signs of strength, with home prices posting their biggest yearly gain since 2006, the year the market began a historic slide that snowballed into a global financial crisis.

However, the industrial sector is not quite as perky. Durable goods orders posted their largest drop in seven months in March, while an index of Midwest manufacturing showed an unexpected contraction in the sector for April.

That trend was reinforced by a key report from the Institute for Supply Management (ISM) on Wednesday.

Its index for national factory activity fell to 50.7 in April from 51.3 the month before, coming in under expectations for a 50.9 print.

A reading above 50 indicates expansion. The report provides an early indications of the economy's current state of health.

In an ill omen for the April U.S. jobs report, due on Friday, the ISM employment index fell to 50.2 from 54.2. Earlier, the monthly ADP National Employment Report showed that U.S. private employers added 119,00 jobs in April, well under expectations for a gain of 150,000 jobs.

Economic growth did rebound in the first quarter after a dismal end to 2012, but the 2.5 percent annual rate of expansion fell short of economists' estimates, and economists are already penciling in a weaker second quarter.

At the same time, inflation has steadily been coming down. The Fed's preferred measure of core inflation, which excludes more volatile food and energy costs, rose just 1.1 percent in the year to March. Overall inflation was up just 1 percent, the smallest gain in 3-1/2 years.

The Fed targets inflation of 2 percent.

CHECKING THE TOOLKIT

Despite the economy's softer tone, a wait-and-see attitude seems the most likely approach for now. The Fed is expected to nod to the economy's disappointing performance when it announces its decision at 2 p.m. (1800 GMT), even as it maintains its course.

But if the economy's fortunes do not improve, the U.S. central bank may well look for fresh ways to boost its support to the economy -- increasing the amount of assets it is buying is just one option.

The Fed could announce an intent to hold the bonds it has bought until maturity instead of selling them when the time comes to tighten monetary policy. Fed Chairman Ben Bernanke has already raised this as a possibility.

Central bankers could also set a lower unemployment threshold to signal when the time might be ripe to finally raise overnight interest rates, which they have held near zero since December 2008. Currently, the threshold stands at 6.5 percent, provided inflation does not threaten to breach 2.5 percent.

Research suggests such "forward guidance" about the future path of interest rates can have a strong impact on current borrowing costs, and one Fed official -- Narayana Kocherlakota, president of the Minneapolis Federal Reserve Bank -- has already suggested lowering the threshold to give the economy a boost.

"Forward guidance would be perceived as having lower costs (than bond purchases) by most, I think, and for that reason I think it could be the preferred avenue, especially if more stimulus was projected to be needed for a long period of time," said Roberto Perli, a partner at Cornerstone Macro in Washington and a former Fed economist.

Analysts generally agree that is a debate for the future, if the Fed even gets there at all.

Victor Li, a former regional Fed economist who teaches at Villanova University in Pennsylvania, said employment growth would have to be consistently below the 100,000 jobs per month pace in combination with core inflation of around 1 percent for the Fed to consider a greater easing of monetary policy.

"There is just no evidence that this is going to happen."

Others are less sanguine. Justin Wolfers, an economics professor at the University of Michigan's Gerald Ford School of Public Policy, said the risk that prices will drop persistently, causing further economic damage, cannot be ruled out.

"What's more relevant than the current inflation trend is what this means for forecast inflation," Wolfers said. "And I think even more relevant than the Fed's official point estimate for inflation is the probability that deflation looms as a real threat. Inflation rates lower than 1 percent certainly raise a greater risk of deflation."

(Additional reporting by Alister Bull; Editing by Tim Ahmann and Andrea Ricci)

Source: http://news.yahoo.com/no-end-sight-fed-stimulus-inflation-sags-040556054.html

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Monday, April 29, 2013

HTC 608t spied, brings dual speakers to a One SV-like design

HTC 608t spied, brings dual speakers to a One SVlike design

HTC might be gearing up for a wider audio assault. Just days after the 606w made a pass through China's TENAA with stereo sound, a 608t cousin has made the agency rounds carrying its own pair of front speakers. If the 608t looks familiar, it should -- it's effectively a spin on the One SV body (or rather, the somewhat similar One ST from China) with both the reworked audio as well as the same navigation layout that first appeared on the One. While we can't verify rumors that the 608t will step up to Jelly Bean, a quad-core chip and an 8-megapixel rear camera, the TENAA report does show that it will include TD-SCDMA for China Mobile as well as GSM and WiFi. However subtle an upgrade the phone will be, about all that's left is for HTC to orchestrate a formal launch.

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Via: Blog of Mobile (translated)

Source: TENAA (translated)

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/8qkpxNqRO9c/

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Hospitals see surge of superbug-fighting products

NEW YORK (AP) -- They sweep. They swab. They sterilize. And still the germs persist.

In U.S. hospitals, an estimated 1 in 20 patients pick up infections they didn't have when they arrived, some caused by dangerous 'superbugs' that are hard to treat.

The rise of these superbugs, along with increased pressure from the government and insurers, is driving hospitals to try all sorts of new approaches to stop their spread:

Machines that resemble "Star Wars" robots and emit ultraviolet light or hydrogen peroxide vapors. Germ-resistant copper bed rails, call buttons and IV poles. Antimicrobial linens, curtains and wall paint.

While these products can help get a room clean, their true impact is still debatable. There is no widely-accepted evidence that these inventions have prevented infections or deaths.

Meanwhile, insurers are pushing hospitals to do a better job and the government's Medicare program has moved to stop paying bills for certain infections caught in the hospital.

"We're seeing a culture change" in hospitals, said Jennie Mayfield, who tracks infections at Barnes-Jewish Hospital in St. Louis.

Those hospital infections are tied to an estimated 100,000 deaths each year and add as much as $30 billion a year in medical costs, according to the Centers for Disease Control and Prevention. The agency last month sounded an alarm about a "nightmare bacteria" resistant to one class of antibiotics. That kind is still rare but it showed up last year in at least 200 hospitals.

Hospitals started paying attention to infection control in the late 1880s, when mounting evidence showed unsanitary conditions were hurting patients. Hospital hygiene has been a concern in cycles ever since, with the latest spike triggered by the emergence a decade ago of a nasty strain of intestinal bug called Clostridium difficile, or C-diff.

The diarrhea-causing C-diff is now linked to 14,000 U.S. deaths annually. That's been the catalyst for the growing focus on infection control, said Mayfield, who is also president-elect of the Association for Professionals in Infection Control and Epidemiology.

C-diff is easier to treat than some other hospital superbugs, like methicillin-resistant staph, or MRSA, but it's particularly difficult to clean away. Alcohol-based hand sanitizers don't work and C-diff can persist on hospital room surfaces for days. The CDC recommends hospital staff clean their hands rigorously with soap and water ? or better yet, wear gloves. And rooms should be cleaned intensively with bleach, the CDC says.

Michael Claes developed a bad case of C-diff while he was a kidney patient last fall at New York City's Lenox Hill Hospital. He and his doctor believe he caught it at the hospital. Claes praised his overall care, but felt the hospital's room cleaning and infection control was less than perfect.

"I would use the word 'perfunctory,'" he said.

Lenox Hill spokeswoman Ann Silverman disputed that characterization, noting hospital workers are making efforts that patients often can't see, like using hand cleansers dispensers in hallways. She ticked off a list of measure used to prevent the spread of germs, ranging from educating patients' family members to isolation and other protective steps with each C-diff patient.

The hospital's C-diff infection rate is lower than the state average, she said.

Westchester Medical Center, a 643-bed hospital in the suburbs of New York City has also been hit by cases of C-diff and the other superbugs.

Complicating matters is the fact that larger proportions of hospital patients today are sicker and more susceptible to the ravages of infections, said Dr. Marisa Montecalvo, a contagious diseases specialist at Westchester.

There's a growing recognition that it's not only surgical knives and operating rooms that need a thorough cleaning but also spots like bed rails and even television remote controls, she said. Now there's more attention to making sure "that all the nooks and crannies are clean, and that it's done in perfect a manner as can be done," Montecalvo said.

Enter companies like Xenex Healthcare Services, a Texas company that makes a portable, $125,000 machine that's rolled into rooms to zap C-diff and other bacteria and viruses dead with ultraviolet light. Xenex has sold or leased devices to more than 100 U.S. hospitals, including Westchester Medical Center.

The market niche is expected to grow from $30 million to $80 million in the next three years, according to Frost & Sullivan, a market research firm.

Mark Stibich, Xenex's chief scientific officer, said client hospitals sometimes call them robots and report improved satisfaction scores from patients who seem impressed that the medical center is trotting out that kind of technology.

At Westchester, they still clean rooms, but the staff appreciates the high-tech backup, said housekeeping manager Carolyn Bevans.

"We all like it," she said of the Xenex.

At Cooley Dickinson Hospital, a 140-bed facility in Northampton, Mass., the staff calls their machines Thing One, Thing Two, Thing Three and Thing Four, borrowing from the children's book "The Cat in the Hat."

But while the things in the Dr. Seuss tale were house-wrecking imps, Cooley Dickinson officials said the ultraviolet has done a terrific job at cleaning their hospital of the difficult C-diff.

"We did all the recommended things. We used bleach. We monitored the quality of cleaning," but C-diff rates wouldn't budge, said nurse Linda Riley, who's in charge of infection prevention at Cooley Dickinson.

A small observational study at the hospital showed C-diff infection rates fell by half and C-diff deaths fell from 14 to 2 during the last two years, compared to the two years before the machines.

Some experts say there's not enough evidence to show the machines are worth it. No national study has shown that these products have led to reduced deaths or infection rates, noted Dr. L. Clifford McDonald of the Centers for Disease Control and Prevention.

His point: It only takes a minute for a nurse or visitor with dirty hands to walk into a room, touch a vulnerable patient with germy hands, and undo the benefits of a recent space-age cleaning.

"Environments get dirty again," McDonald said, and thorough cleaning with conventional disinfectants ought to do the job.

Beyond products to disinfect a room, there are tools to make sure doctors, nurses and other hospital staff are properly cleaning their hands when they come into a patient's room. Among them are scanners that monitor how many times a health care worker uses a sink or hand sanitizer dispenser.

Still, "technology only takes us so far," said Christian Lillis, who runs a small foundation named after his mother who died from a C-diff infection.

Lillis said the hospitals he is most impressed with include Swedish Covenant Hospital in Chicago, where thorough cleanings are confirmed with spot checks. Fluorescent powder is dabbed around a room before it's cleaned and a special light shows if the powder was removed. That strategy was followed by a 28 percent decline in C-diff, he said.

He also cites Advocate Christ Medical Center in Oak Lawn, Ill., where the focus is on elbow grease and bleach wipes. What's different, he said, is the merger of the housekeeping and infection prevention staff. That emphasizes that cleaning is less about being a maid's service than about saving patients from superbugs.

"If your hospital's not clean, you're creating more problems than you're solving," Lillis said.

___

Online:

CDC: http://www.cdc.gov/hai/

Source: http://news.yahoo.com/hospitals-see-surge-superbug-fighting-063400543.html

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Obama readies for annual correspondents' dinner

Late-night television host and comedian Conan O'Brien tours the Brady Press Briefing room of the White House in Washington, Friday, April, 26, 2013. O'Brien visited the White House ahead of his schedule hosting of the annual White House Correspondents Dinner on Saturday. (AP Photo/Pablo Martinez Monsivais)

Late-night television host and comedian Conan O'Brien tours the Brady Press Briefing room of the White House in Washington, Friday, April, 26, 2013. O'Brien visited the White House ahead of his schedule hosting of the annual White House Correspondents Dinner on Saturday. (AP Photo/Pablo Martinez Monsivais)

Late-night television host and comedian Conan O'Brien gives a 'thumbs-up' as he tours the Brady Press Briefing room of the White House in Washington, Friday, April, 26, 2013. O'Brien visited the White House ahead of his schedule hosting of the annual White House Correspondents Dinner on Saturday. (AP Photo/Pablo Martinez Monsivais)

Late-night television host and comedian Conan O'Brien tours the Brady Press Briefing room of the White House in Washington, Friday, April, 26, 2013. O'Brien visited the White House ahead of his schedule hosting of the annual White House Correspondents Dinner on Saturday. (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) ? The annual gathering not far from the White House brings together journalists, government officials, politicians and media personalities for what's usually an evening of light-hearted banter and celebrity gawking.

Presidents are made fun of and they poke at themselves, too.

But President Barack Obama's scheduled appearance Saturday night at the White House Correspondents' Association dinner was coming at a somber time, nearly two weeks after the deadly Boston Marathon bombing and 10 days after a devastating fertilizer plant explosion in West, Texas.

In 1995, in the aftermath of the Oklahoma City bombing, President Bill Clinton dispensed with the traditional presidential humor to remember victims and praise journalists for their coverage of the explosion.

Coincidentally, this year's dinner entertainer, comedian and late-night TV talk-show host Conan O'Brien, also headlined that 1995 gala.

Obama spent the afternoon on the golf course at Andrews Air Force Base with former U.S. Trade Representative Ron Kirk and two White House aides.

Six journalists, including Associated Press White House Correspondent Julie Pace, were to be awarded prizes for their coverage of the presidency and national issues.

The New Yorker's Ryan Lizza won the Aldo Beckman Award, which recognizes excellence in the coverage of the presidency.

Pace won the Merriman Smith Award for a print journalist for coverage on deadline.

ABC's Terry Moran was the winner of the broadcast Merriman Smith Award for deadline reporting.

Reporters Jim Morris, Chris Hamby and Ronnie Greene of the Center for Public Integrity won the Edgar A. Poe Award for coverage of issues of national significance.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2013-04-27-Obama-Correspondents/id-f1c7f6d049544bf49971564b437c0cfc

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