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Citing wireless trends, AT&T raises sales outlook

Written By Unknown on Selasa, 03 Juni 2014 | 20.25

NEW YORK — AT&T boosted its full-year revenue forecast Tuesday, citing strong wireless trends.

The company said it expects a second-quarter net addition of more than 800,000 in "post-paid" plans. Those are high-value customers who have contracts or long-term installment plans. It's also 175,000 more than the number added during the previous quarter.

AT&T also said it foresees second-quarter Next smartphone sales of about 3.2 million. Next is an installment plan that permits frequent phone upgrades. Although customers in the installment plan aren't locked into traditional two-year service contracts, they pay the entire cost of phones in installments. As a result, AT&T doesn't have to pay hundreds of dollars per customer in subsidies. In return, customers can get a new phone as often as every year instead of every other year.

The Dallas communications company now anticipates a full-year revenue increase in "the 5 percent range," a percentage point greater than it forecast in April and much better than its initial guidance of 2 percent to 3 percent growth.

AT&T also reiterated its outlook for full-year adjusted earnings-per-share growth at the low end of the mid-single digit range.

Shares of AT&T Inc. fell slightly in premarket trading.


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US home price gains slow in April amid tepid sales

WASHINGTON — U.S. home prices rose in April compared with a year earlier, but the increase was the smallest annual gain in 14 months. Price gains have slowed this year as sales have faltered.

Data provider CoreLogic said Tuesday that prices rose 10.5 percent in April from 12 months earlier. That is a healthy gain, but it is down from March's 11.1 percent increase and February's 12.2 percent rise.

On a month-to-month basis, April prices rose 2.1 percent. But CoreLogic's monthly figures aren't adjusted for seasonal patterns, such as warmer spring weather.

Higher mortgage rates, tight credit and a limited supply of available homes have slowed the housing recovery. Sales of existing homes ticked up in April after falling to a 20-month low in March. They were still 6.8 percent lower than a year ago.

Prices rose in the 12 months ending in April in every state, CoreLogic said. The states with the biggest price gains were California, 15.6 percent; Nevada, 14.8 percent; Hawaii, 14.1 percent; Oregon, 11.8 percent; and Michigan, 11.3 percent.

Ninety-five of the 100 largest metro areas reported higher prices in April compared with a year earlier. The five that did not record an increase were: Hartford, Connecticut; Milwaukee, Wisconsin; Little Rock, Arkansas; Worcester, Massachusetts; and New Haven, Connecticut.

Nationwide, home prices are still 14.3 percent below the peak they reached in April 2006, when the housing bubble began to deflate. But in 23 states, prices are at or within 10 percent of their previous peaks, according to CoreLogic's figures.

Housing began to recover in 2012, but sales of existing homes stalled after mortgage rates jumped last spring. Most economists forecast that sales will barely rise this year from 2013's pace of 5.1 million. Sluggish sales, in turn, will slow annual price gains this year to roughly 5 percent or 6 percent, economists predict.


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Asian stocks mostly up on China data; Europe falls

SEOUL, South Korea — Global stocks were mixed on Tuesday with inflation data showing a weak recovery in Europe even as Chinese manufacturing was recovering from contraction.

European stocks opened lower. Britain's FTSE 100 was down 0.3 percent to 6,840.60 and France's CAC 40 dipped 0.1 percent to 4,510.77. Germany's DAX lost 0.2 percent to 9,927.49.

The European Union's statistics agency said that inflation in the combined economy of countries using the euro was a lower-than-expected 0.5 percent last month, down from 0.7 percent in April, suggesting demand is weak.

The decline in inflation puts more pressure on the European Central Bank to take additional measures to support the fragile economic recovery when it reviews monetary policy on Thursday.

Wall Street was set for a dull start, with Dow Jones futures losing 0.1 percent and S&P 500 futures down 0.2 percent.

Earlier in Asia, stocks closed mostly higher after a second Chinese manufacturing survey suggested the slowdown in the world's No. 2 economy is stabilizing.

The HSBC index, which is based on a survey of factory purchasing managers, climbed to 49.4 last month from 48.1 in April. The index uses a 100-point scale on which numbers above 50 indicate expansion. The number was weaker than 49.7 in a preliminary version of the survey because of a revision to stocks of finished goods.

On the weekend, the China Federation of Logistics and Purchasing said Chinese manufacturing grew for the third consecutive month in May. Its survey focuses on state owned companies while the HSBC survey is weighted to private businesses.

Japan's Nikkei 225, the regional heavyweight, rose 0.7 percent to 15,034.25. Japanese shares have been boosted recently by renewed weakness in the yen and expectations the country's giant government pension fund will increase its holdings of shares at the expense of bonds.

Hong Kong's Hang Seng added 0.9 percent to 23,291.04. Stocks in mainland China, Taiwan and the Philippines also gained.

South Korea's Kospi erased earlier losses and finished 0.3 percent higher at 2,008.56. Samsung Electronics Co. rose 1 percent after Samsung Everland Inc., which serves as a holding company for the Samsung Group, said it would seek an initial public offering by early next year.

Australia's S&P/ASX 200 dropped 0.7 percent to 5,479.70.

This week investors are waiting for the U.S. jobs report for May, which is due Friday. Economists expect the U.S. economy created 220,000 jobs in May, and the unemployment rate fell to 6.3 percent, according to FactSet, a financial information provider.

In energy markets, benchmark U.S. oil for July delivery was down 12 cents to $102.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents to $102.47 on Monday.

In currencies, the euro rose to $1.3611 from $1.3598. The dollar inched down to 102.39 yen from 102.41 yen.


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Seattle's $15 minimum wage: Questions and answers

SEATTLE — The Seattle City Council has approved an ordinance that would raise the city's minimum wage to $15 an hour, making it the highest in the nation. Here are some questions and answers about the new hourly wage.

WHAT IS THE MINIMUM WAGE IN SEATTLE NOW?

It is $9.32 an hour, the Washington state minimum wage, which is itself the highest minimum wage of any state. The federal minimum wage is $7.25 an hour.

WHEN WOULD SEATTLE'S WAGE GO UP?

The measure, which would take effect on April 1, 2015, would be phased in over several years. The plan gives businesses with more than 500 employees nationally at least three years to phase in the increase. Those providing health insurance will have four years to complete the move. Smaller organizations will be given seven years.

WHY SEATTLE?

The minimum wage issue has dominated local politics for months. New Mayor Ed Murray campaigned on raising the minimum wage during his campaign last fall, and local voters elected a socialist candidate to the City Council who has also pushed aggressively for the increase. The ordinance came from recommendations made by an advisory group of labor, business and nonprofit representatives convened by Murray.

WHAT ARE PEOPLE SAYING?

Some business owners complain the increase could lead them to cut back on hiring or scale back plans to expand operations. Some labor activists say the phased-in approach takes too long to get to $15 an hour. The goal of the advisory group recommendations was to avoid competing minimum wage ballot initiatives this fall from business and labor groups.

WHAT'S GOING ON ELSEWHERE?

President Barack Obama supports raising the federal minimum wage to $10.10 an hour. Minnesota earlier this year raised the state's guaranteed wage by more than $3, to $9.50, by 2016. California, Connecticut and Maryland also have passed laws increasing their respective wages to $10 or more in coming years.


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Chrysler sales up 17 pct as car buyers return

DETROIT — Chrysler's U.S. sales jumped 17 percent in May, a month when car buyers who stayed home during the rough winter were expected to return to showrooms.

Chrysler sales were boosted by strong demand for the new Jeep Cherokee small SUV.

Automakers report sales for May throughout the day. All but Volkswagen are expected to post increases, according to the Edmunds.com auto website.

Analysts say that buyers who stayed away from car dealerships during the winter came out in May, and likely pushed U.S. sales to their highest level in seven years.

Analysts expect the industry to post annual sales of more than 16 million for the first time since 2007. But January and February sales were weaker than expected as consumers spent more time shoveling snow than shopping.


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Market Basket growth on shelf

Written By Unknown on Minggu, 01 Juni 2014 | 20.25

The board of Demoulas Super Markets Inc., owner of the Market Basket grocery chain, said it has instructed company management to open its long-stalled stores in Attleboro and Revere "at the earliest possible moment."

But it's unclear when that will be. Despite the go-ahead, management is at an "impasse" with the board on leasing issues and hasn't decided when the stores will open, Market Basket director of operations Bill Marsden said.

"Unless those issues become resolved, things are status quo, to say the least," he said.

The stores have been delayed by infighting between the Tewksbury chain's board and management, including allegations that CEO Arthur T. Demoulas was involved in "self-dealing" real estate deals related to new sites that benefited his wife and brother-in-law. The board took over real estate decisions after a change in majority control last June that favors the CEO's rival cousin, Arthur S. Demoulas.

Arthur T. Demoulas could not be reached for comment.

In a statement, a spokeswoman for the board said it has been "waiting patiently for many months for management to propose a plan and timetable to open the store in Attleboro. Management has not provided this plan, so the board has now instructed management to open the store ... at the earliest possible moment."

In March, Market Basket signed a lease for its new Waltham store, allowing work there — stalled since September — to proceed. New stores planned for Athol and Littleton are "on track," according to the Demoulas board website.

The construction firm for Market Basket's Attleboro store, which received a temporary occupancy permit in January, was granted a 90-day extension this week that expires Aug. 28. "I also let them know … that no further extensions would be granted," Attleboro building commissioner Doug Semple said. There has been no communication with Market Basket "whatsoever," he noted.

The Revere store was completed last July.

"The board ... has been required to be actively involved in negotiating the lease of (the) property ... given that the company's CEO has a conflict of interest regarding the ownership and lease," the board spokeswoman said.

The board previously approved the lease subject to certain conditions, which since have been satisfied, she said. "… The board …instructed management to sign the lease and ... to open the store in Revere at the earliest possible moment," she said.

Board chairman Keith Cowan declined comment. In a May 21 letter to Revere Mayor Daniel Rizzo, Cowan pointed to "deficiencies" in the Revere deal with "certain deed restrictions, site accessibility and the appropriateness of certain fees, charges and benefits."

Earlier in the month, Rizzo wrote a letter to Cowan — which Cowan said he didn't receive — saying that, "Having a brand new vacant and unused business facility was never part of my vision for economic growth" when he took office in 2012. "… I am turning this matter over to the city solicitor to explore whatever legal options may be at our disposal in order to rectify the situation we unfortunately find ourselves in," Rizzo's letter said.


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Suburban owner wonders why sunroof won̢۪t close

The sunroof on my 2005 Suburban will not close. I turned on the ignition switch to lower the windows and open the sunroof to air out the interior a couple of weekends ago. I left the key on after opening the windows and discharged the battery to the point where the windows and sunroof would not close. I charged the battery and the windows closed, but the sunroof moved about an inch and stopped. To reprogram the sunroof, the manual states to push the switch to the vent position to start the programming process. However, the window is open and will not close to start the process. A Chevy dealership and a business that specializes in interiors and sunroofs did not have an answer or a possible solution without bringing it in.

According to the GM reprogramming instructions in my Alldata automotive database, even if the sunroof won't close when you push the switch to the vent position, hold the switch in this position for at least 30 seconds until you hear a slight clicking noise from the front of the sunroof — this should confirm the reprogramming was successful.

If this doesn't work, the sunroof assembly must be removed so that the motor can be removed and the guide pins pushed all the way forward to the stops. Good luck.

Several months ago my '05 Hyundai XG350 displayed an "air bag" message in my dashboard. I had my dealer perform a diagnostic test that informed me I had a "bad air bag" located in the driver's seat. The cost to repair: $1,500 for the part, plus labor. I declined. My brother has a mechanic friend who suggested I "turn on your cruise control." Within five minutes the airbag light went out. To this day, several months later, the airbag light has NOT come on. I have called several dealers and shops asking if another diagnostic test can be performed without the light on and they all replied they cannot do another test. I truly believe the "sensor" was the cause of this air bag message and that I do not have a bad air bag. Do you have any other suggestions?

Wow! Who ever said that automobiles cannot be "self-healing"? I have absolutely no idea how or why the operation of the cruise control would have any influence on a restraint system fault code, but I can tell you that if the air bag warning light flashes during its initial self-test when you first turn on the ignition, then goes out for the duration of your drive, there is no current fault with the system.

With that said, most 
"B-series" body codes will stay in memory until cleared by a scan tool. So it would seem the original DTC code for the airbag light should still be in the computer memory. You should have the dealer scan the body control module for any stored restraint system fault codes.

I have a 2005 Chevy Silverado 1500 with 115,000 miles on it. Just recently my gas gauge needle went from 3/4 to way over full and stayed there for several days and is now working fine. Yesterday my oil pressure gauge needle went from normal to off the gauge on the high end. I checked my oil level and it is in the normal range. What do you suggest?

GM issued several bulletins on this type of instrument cluster issue for your year truck and ultimately extended the warranty on these components out to several years/70,000 miles for parts and labor, and an additional 10,000 miles — a total of 80,000 miles — for parts only.

I wouldn't hesitate to ask the dealer to ask GM for some type of "customer goodwill" adjustment to help with the cost of the repair. If no help is available — your vehicle is significantly past the extended warranty — you'll have to choose whether to have it repaired or live with the condition.

Paul Brand, author of "How to Repair Your Car," is an automotive troubleshooter, driving instructor and former race-car driver. Readers may write to him at: Star Tribune, 425 Portland Ave. S., Minneapolis, Minn., 55488 or via email at paulbrandstartribune.com. Please explain the problem in detail and include a daytime phone number. Because of the volume of mail, we cannot provide personal replies.


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Cape Cod apartments for those with limited vision

YARMOUTH, Mass. — Life with limited vision can be challenging, but a partnership between a local nonprofit organization and a Cape Cod assisted living facility could make it a little brighter.

The Cove at Thirwood Place, located on Flax Pond in South Yarmouth, is now marketing a new low-vision support services program complete with apartments outfitted with technology to help residents read, cook and better manage their environment.

"We're equipping these apartments to make life easier for folks with low or impaired vision," said Larry Lyford, director of sales and marketing at Thirwood Place, during a recent tour of a prototype unit.

Lyford and a small army of other officials, including Cynthia Stead, who is executive director of Sight Loss Services Inc. Cape Cod and Islands and a Times columnist, showed off a device that warns a user before his or her cup literally runs over and a computer mouse that reads and digitizes text, enlarging it on a flat television screen.

"I always like to demonstrate them on telephone books," Stead said about the reader's ability to boost the size of small print.

The apartments also come equipped with an iPad loaded with applications to scan bar codes, read money (Lyford showed how it could discern a $5 bill in his hand) and read aloud the resident's calendar, news, weather and notes.

In the kitchen, adjustments ranged from the high tech (a talking microwave) to the simple (a cutting board colored black on one side and white on the other for contrast). The apartment also included a talking thermostat, thermometer and bathroom scale.

Stead and Thirwood officials said they expect the number of people with impaired vision on Cape Cod to continue to rise.

Last year, Sight Loss worked with 2,048 clients, including both individuals and institutions, Stead said. At least 1,500 of those are people with sight loss, she said. Barnstable County puts the number of legally blind residents at 1,900, she said.

"It's probably closer to 7,000," she said about the region's population with low or impaired vision. That could easily double in the next 10 years, she said.

The Cove low-vision apartments — which can be equipped to order — also come with dimmers on all the lights and a high-intensity task lamp, said Beth Patkoske, spokeswoman for the Davenport Cos., which owns Thirwood.

The company is working with other partners to provide even more services and to train its employees to be better-prepared for clients with limited vision, said Lyford and Paul Rumul, chief operating officer for Davenport.

"The thing that's going to make the difference is the staff, the care and compassionate follow-up," Rumul said.

The technology and services are available for a one-time added cost of $2,000, which pays for equipping the apartment, he said.

Because help at the Cove is available 24 hours a day, residents can be taught how to use the technology as often as necessary, Patkoske said.

Thirwood, which has 212 units on 45 acres, is also collaborating with Cape Cod Healthcare and a doctor who works specifically with individuals who have low vision, she said.

Thirwood also offers scribe services to read residents mail or write out cards for them, Rumul said.

This is important because, while the reader technology can read printed material, it still has trouble with most handwriting, Stead said.

"This isn't just new to the Cape," Stead said about the suite of services. "This is new to New England."

Despite research and progress at a significant cost, sight loss diseases are largely incurable, she said.

"It's a matter of managing a condition as long as you can," she said.

Rumul admits offering the low-vision services makes sense in other ways as well.

"This is just good business," he said.


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Gambling regulator to lawmakers: Revise casino law

BOSTON — Massachusetts' top gambling regulator is urging lawmakers to address employment and income tax provisions included in the 2011 casino law before they break for summer.

But a leading lawmaker says the Democratic majority isn't yet ready to commit to approving the recommended changes in time for July's expected end of the legislative session.

Massachusetts Gaming Commission Chairman Stephen Crosby says the legislature needs to change how the state requires gamblers report certain winnings for income tax withholding purposes.

He says the current $600 threshold for reporting winnings is not competitive with neighboring states and may discourage gamblers.

The commission also wants lawmakers to ease provisions that would automatically disqualify persons convicted of felonies or other crimes from working at casinos.


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Philadelphia Inquirer co-owner dead in plane crash

PHILADELPHIA — Philadelphia Inquirer co-owner Lewis Katz is among the seven people killed in a fiery plane crash in Massachusetts, the newspaper's editor said Sunday.

Bill Marimow confirmed Katz's death to Philly.com, saying he learned the news from close associates.

The Gulfstream IV crashed as it was leaving Hanscom Field at about 9:40 p.m. Saturday for Atlantic City International Airport in New Jersey, said Matthew Brelis, a spokesman for the Massachusetts Port Authority, which operates the air field.

"There were no survivors," Brelis said. "Our thoughts and prayers are with the people on board and their loved ones."

The identities of the other victims weren't immediately released. Nancy Phillips, Katz's longtime companion and city editor at the Inquirer, was not on board.

The 72-year-old Katz was one of two business moguls who bought out their partners last week with an $88 million bid for The Inquirer, which also operates the Philadelphia Daily News and the news website Philly.com.

The winners vowed to fund in-depth journalism to return the Inquirer to its former glory and to retain its editor, Marimow.

"It's going to be a lot of hard work. We're not kidding ourselves. It's going to be an enormous undertaking," Katz said then, noting that advertising and circulation revenues had fallen for years. "Hopefully, (the Inquirer) will get fatter."

Katz, who grew up in Camden, New Jersey, made his fortune investing in the Kinney Parking empire and the Yankees Entertainment and Sports Network in New York. He once owned the NBA's New Jersey Nets and the NHL's New Jersey Devils and is a major donor to Temple University, his alma mater.

The fight over the future of the city's two major newspapers was sparked last year by a decision to fire the Inquirer's Pulitzer Prize-winning editor. Katz and H.F. "Gerry" Lenfest wanted a judge to block the firing. Katz sued a fellow owner, powerful Democratic powerbroker George Norcross, saying his ownership rights had been trampled. The dispute culminated last week when Katz and Lenfest, a former cable magnate-turned-philanthropist, bought out their partners.

Officials did not speculate on what they think caused the crash. They said the National Transportation Safety Board will investigate and determine what happened.

Nearby residents recounted seeing a fireball and feeling the blast of the explosion shake their homes.

Jeff Patterson told The Boston Globe he saw a fireball about 60 feet in the air and suspected the worst for those aboard the plane.

"I heard a big boom, and I thought at the time that someone was trying to break into my house because it shook it," said Patterson's son, 14-year-old Jared Patterson. "I thought someone was like banging on the door trying to get in."

The air field, which serves the public, was closed after the crash. Brelis said responders were still on the scene early Sunday morning.

An aviation expert who spoke to New England Cable News said various explanations for the explosion were possible.

"The engine could implode, if you will," said Steve Cunningham of Nashua Flight Simulator. "A turbine wheel could separate, there could be a fire in the combustion chamber. Or a fuel leak could also create a fire of that nature."

Hanscom Field is about 20 miles northwest of Boston. It was used by the Army Air Corps and military operations dominated until it became both a military and civilian facility in the 1950s. Massport currently manages it as a regional airport serving mostly corporate aviation, private pilots, commuter air services, and some light cargo.


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