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August 3, 2009

Potentially deadly Honda recall

Posted: 07:58 AM ET

Almost half a million Hondas are being called back to the shop due to a potentially deadly airbag defect.

If you or someone you know drives any of the following models, act quickly in getting your car looked at!

The driver's side airbags can over pressurize, and, according to Honda's release: "If an affected inflator deploys, the increased internal pressure may cause the inflator casing to rupture. Metal fragments could pass through the cloth airbag cushion material, possibly causing an injury or fatality to vehicle occupants."

Honda spokesman Chris Noughtan told CNN's the potential defect has resulted in six known injuries and one known death.

The company will send a recall notice in the mail over the next few months, the release said.

The certain vehicles from the following groups are known to be affected:

2001-2002 Hondas
Accords, 2001 Civics
2002-2003 Acura TLs

Owners may check their car's recall status by visiting the Honda "Owner Link" Web site at www.owners.honda.com/recalls or the Acura "My Acura" Web site at www.owners.acura.com/recalls.

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June 18, 2009

Need help affording your prescriptions?

Posted: 07:03 AM ET

Business Correspondent Jennifer Westhoven

This might really help if you're struggling right now to afford your medicine.

You could get your prescriptions filled for free.
You could get your prescriptions filled for free.

You might be able to get your prescriptions filled for free.

Pfizer is giving away some of its most widely-prescribed drugs for people who have lost their jobs and their health insurance.

To qualify, call them at 866-706-2400.

There are also many pharmacies (like Kmart, Costco and BJ's) offering cheap prices for many prescriptions.

This is a big deal: a recent poll found that almost 30 percent of adults say they haven't filled prescriptions because they cant afford it.

For more details, check out this story from CNN's personal finance expert Gerri Willis.

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May 18, 2009

How to Rent Almost Everything – and Save Money!

Posted: 10:45 AM ET

Business Correspondent Jennifer Westhoven

Our team came across a great article today about a crop of websites that could help you save money and even earn a little bit too!

SmartMoney reports about the many new sites springing up to help people rent items – instead of buying them. This is great for items you know you are only going to use once or a few times – like jewelry for your wedding, a high-powered camera or a Nintendo Wii with guitar hero for a party!

There are all kinds of things that may be available for rent from someone in your neighborhood.

How about all the junk in your garage that you’re not quite ready to part with? You might be able to make a few extra dollars by renting out your stuff – maybe you have a power-washer or other tools someone might want to borrow.

SmartMoney.com says you can try sites like Zilok.com, Rentcharlie.com and ILetYou.com.

There’s always some risk, but they do have policies to protect you.

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April 13, 2009

What to do if you can’t pay your taxes

Posted: 09:18 AM ET

Business Correspondent Jennifer Westhoven

April 15th is coming right up.

Some people may be behind because they haven’t done the work, but others may be worried that they just can’t pay the bill!

It’s human to procrastinate, but you’ll only pay for it later. The most important thing is to tell the IRS that you’ll be late.

Why: On midnight after April 15th, the clock starts running, and you may have to pay heavy penalties and interest.

Plus, it’s easy. You can do it right from your computer. Click here for the IRS form.

The IRS says it understands that American families are in very tough times, with millions out of work. So it’s message is: Let’s work things out.

IRS Commissioner Douglas Shulman is due at the National Press Club later today to say what the IRS is doing to help those in distress – like giving IRS employees the flexibility to adjust or defer tax payments for some.

Questions? Leave them in the comments field below.

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March 20, 2009

Free Tax Help Saturday

Posted: 05:52 AM ET

Business Correspondent Jennifer Westhoven

This weekend you can get free tax help straight from the horse's mouth – the IRS.

Tomorrow, Saturday, the IRS is offering free tax preparation as long as you make $42,000 a year or less.

Normally the IRS is closed on weekends, but it’s opening more than 250 local IRS offices and bringing in a thousand tax-prep volunteers to answer your questions and help you make a payment plan.

There are a few new rules you may need help with. If you lost your job this year, you might qualify for the Earned Income Tax Credit, the average benefit is usually around $2,000. There’s also the new help if you’re buying a home.

And, if you already know you’re not going to be able to pay them, the IRS says, please, just let them know early and they’ll try to wok with you on an installment plan. You might avoid some stiff penalties that way.

To find one of the offices near you: check their website, www.irs.gov.

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March 2, 2009

Looking out for you, seniors

Posted: 12:37 PM ET

Business Correspondent Jennifer Westhoven

We've been getting a lot of questions about the new stimulus plan and how it will affect seniors and retirees. Below, I answer one such question.

ALT TEXT

Many retirees are wondering how the stimulus package will affect them.

Q: I don't hear of any stimulus checks for those of us over 65. We paid our taxes, planned for retirement, and contributed to social security. Something is not fair in all of this.
- Jan, Connecticut.

A: We get lots of questions like this from seniors and retirees who don’t make a lot of money, and felt like they are getting ripped off!

I think there was so much focus on the “Making Work Pay” angle of the new bailout plan (because it’s more expensive and affects more people), that some of you didn’t hear the good news for retirees.

The first obvious bit of help for seniors is a check - $250 dollars exclusively for people who get Social Security (and others, including retired government workers).

That check should be coming by this summer, look for it in your mailbox starting in July.

To get it, as far as I can tell, you do *not* have to file an income tax form, you don’t even have to lift a finger. The Social Security Administration is going to determine who gets it so it should just come seamlessly. I’m sure we’ll report more on this as we get closer.

There are other parts of the stimulus you can take advantage of, too, that aren’t age-specific.

At any age, you can get a tax break if you take a class at the local college.

There are also tax breaks if you make upgrades in your home (at any age) that save energy (Think new windows, a new furnace or central air.)

And there’s another big way this could help seniors, if this *does* eventually restore confidence in the markets,
it could help your battered pension and 401k retirement savings.

Do you have other questions about how the stimulus plan will affect you? Leave them in the comments field below!

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February 25, 2009

Blogging could be worth millions

Posted: 10:41 AM ET

Business Correspondent Jennifer Westhoven

Got a great idea and want to blog about it? Maybe you could become the next blogging millionaire.

Because most blogs are private, it’s very difficult to know how much they’re worth… but a reporter at the blog “24/7 Wall Street” did some digging, and you may be surprised at how much some of these sites are worth!

Check out the top ten most valuable blogs:

1. Gawker Properties (owns Gawker, Defamer and Jezebel) - $170 million.
2. Huffington Post - $90 million.
3. The Drudge Report - $48 million.
4. Perez Hilton - $32 million.
5. Sugar, Inc. - $27 million.
6. TechCrunch - $25 million.
7. MacRumors - $21 million.
8. SeekingAlpha - $11 million.
9. GigaOm - $9.5 million.
10. Politico - $8.7 million.

To check out the rest of the list, click here.

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February 16, 2009

Making the most of the stimulus package

Posted: 09:51 AM ET

Business Correspondent Jennifer Westhoven

So many of you have big questions about the massive $790 billion dollar stimulus package; we’re going to be working through some of the them throughout the week.

ALT TEXT

Will you get a piece of the pie?

Today we’re going to focus on the TAX BREAKS: Money that’s coming straight to you, or tax breaks you can take advantage of.

(I know you guys have a lot more questions, we’ll try and get to them in the coming days!)

Q: Will we get stimulus checks like we did last year through the IRS?
A: No. The most immediate way you’ll see the money is the President’s “Making Work Pay” plan. He promised in the campaign to give $500 to every working American. Congress cut that to $400. There are 2 ways to get the money, as money back in your paycheck, or as money back in next year’s taxes.

Most people will likely get it in their paycheck, to get the money faster. It amounts to roughly $15 a paycheck if you’re paid every two weeks. You’ll see the small raise for a year, roughly from early July this year to early July next year, 2010.

Q: Why didn’t they just give out a check?
A: Behavioral economists say that in studies, people are more likely to spend money (and therefore stimulate the economy) if the extra money is part of their “normal” pay. When people get a lump-sum check, they tend to save it or use the money to pay off debt. Those are worthy goals, but they don’t stimulate the economy. Some experts say that’s why lawmakers preferred this structure.

Other ways you will see tax breaks and tax credits from the stimulus plan:

- A patch on the AMT (Alternative Minimum Tax). That could save tens of thousands of families from a 2,000-tax-punch.
- Expanded tax credits for children, and for going to college
- Tax credits for buying a house or a car

We’ve had lots of questions about the $8,000 tax credit for buying a home.

Q: Does the credit only cover first-time home buyers or can anyone take it if they buy a home?
A: It’s only for first-time homebuyers. You must hold onto the home for 3 years.

Good luck making the most of it!

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February 3, 2009

McCaskill: Taxpayer-funded CEO bonuses? No.

Posted: 08:44 AM ET

Business Correspondent Jennifer Westhoven

The average CEO makes 344 times the average Joe – it’s no wonder that people are so outraged that even after begging for taxpayer money, big wall street firms were handing out billions in bonuses.

ALT TEXT

Claire McCaskill: Working-class hero.

Well now your outrage has a voice on Capitol Hill – in the form of Senator Claire McCaskill. She took to the Senate floor and said:

“They don’t get it. These people are idiots. You can't use taxpayer money to pay out 18-billion dollars in bonuses."

Since then, the Missouri Democrat says the phones in her office have been ringing off the hook and she’s gotten an “unbelievable” number of emails to support her.

McCaskill says she wants to cap the pay of bailed-out CEO's at $400 thousand dollars a year – the same as the president’s salary, as long as they are taking taxpayer money.

What do you think? How much do these CEO's deserve?

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January 20, 2009

Today: Get Your Free Makeup at Macy’s, Dillard's and more

Posted: 07:40 AM ET

Business Correspondent Jennifer Westhoven

If you’re trying to save your money these days, you can score some high-end makeup for free!

ALT TEXT

Free perfume! All the glamour, none of the price.

(And this isn’t just for the ladies, guys, you might make your honey extra-happy on Valentine’s Day with a romantic gift like perfume.)

Starting today: Stores are giving away $175 million dollars worth of cosmetics. The makers are settling allegations that they conspired to never offer discounts, and they want to make that antitrust lawsuit go away.

Where to go: Macy's, Dillard's, Saks Fifth Avenue, Nordstrom and Nieman Marcus.

What you can get: One from this list ...
- Moisturizing creams from Clarins, Estee Lauder, Clinque and Lancome;
- Shower gels from Calvin Klein, Sarah Jessica Parker, Ralph Lauren and Giorgio Armani;
- Mascara from Lancome;
- Perfume from Boucheron, Chanel, Dior, Guerlain and Givenchy.

You won’t need a receipt, but you will have to sign something, and you may have to wait in line.

I also bet they may be those little travel sizes but hey, it’s something for nothing!

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About this blog

It's Morning Express like you've never seen it before! Hear from Robin Meade and the rest of the show crew for our thoughts on everything from politics to sports... to those bizarre stories that have us buzzing behind the scenes. Plus, plenty of material you might not see on the air. Don't miss OUR TAKE on what's happening in the world. Then tell us YOURS!

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Robin Meade
Delivering your dose of morning news, to get you out of bed and off to work.
Robin Meade
Richard Lui
Digging deeper into politics, and the stories behind the presidential race.
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Bob Van Dillen
From tracking storms to airport delays, Bob is your weather and travel expert.
Bob Van Dillen
Jennifer Westhoven
Jennifer has the tips you need to take action on stories affecting your wallet.
Jennifer Westhoven
Rafer Weigel
Rafer gives you his take on wild sports highlights and inspirational athletes.
Rafer Weigel
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