(NEW YORK) — William “Bill” Post, the man often credited with inventing the beloved Pop Tart, has died at 96.
Born on June 27, 1927 in Grand Rapids, Michigan, Post was one of seven children born to Dutch immigrants and, at the age of 16, Post began working part-time washing trucks at Hekman Biscuit Company, according to his obituary.
After serving in the Army Air Corps in occupied Japan during World War II, Post would eventually return to Hekman at the age of 21 to work full as the personnel manager while also assisting with sales and production, along with many of the other elements of the business.
“Fast forward 20 years, and Bill as the plant manager of Hekman (later known as the Keebler Company) welcomed some executives from Kellogg’s who asked if he thought it would be possible for Keebler to create a new product they had in mind,” according to his obituary.
“It is at this juncture that Bill is often credited for having ‘invented’ the Pop Tart,” Post’s obituary states. “To be accurate, however, Bill would say, ‘I assembled an amazing team that developed Kellogg’s concept of a shelf-stable toaster pastry into a fine product that we could bring to market in the span of just four months.’”
Pop Tarts made their debut to the public in 1964 with the four original flavors of strawberry, blueberry, brown sugar cinnamon and apple-currant. Now, 60 years later, there are between 20 to 30 flavors on the market at any given time with new flavors constantly being in development and tested for an ever-changing market.
In the latter part of his life, Post would move his family to Elmhurst Illinois, to begin working at the corporate offices of the Keebler Company before leaving the company at age 56 and retiring to Glen Arbor, Michigan.
His retirement didn’t last long, however, and he accepted Kellogg’s request to be their consultant, a role he would hold for the next 20 years, which included “worldwide travel and the forging of international friendships. In 2003, Bill and Florence came full circle, moving back to Grand Rapids to be near their family,” according to his obituary.
“Bill’s immediate family also wishes to express their gratitude and thanks to his nieces and nephews who paid so much attention to him,” the obituary said.
(NEW YORK) — Consumer prices rose 3.1% in January compared to a year ago, slowing markedly from the previous month but missing expectations of an even larger cooldown, a report from the Bureau of Labor Statistics released on Tuesday showed.
Still, the falling inflation offered welcome news for the Federal Reserve as it weighs interest rate cuts.
Core inflation — a closely watched measure that strips out volatile food and energy prices — increased 3.9% over the year ending in January, matching the cooldown from the prior month.
The report from the U.S. Bureau of Labor Statistics follows a slight acceleration of price increases in December.
That jump in inflation had complicated the Federal Reserve’s plans to deescalate its inflation fight with a series of interest rate cuts this year.
Fewer than two weeks ago, the central bank decided to leave interest rates unchanged, opting to observe further economic performance before reversing a near-historic series of rate increases that began last year.
The slowdown of inflation in January amounts to a positive sign for the Fed ahead of its next rate decision in March.
Inflation has fallen dramatically from a peak last year, but it remains nearly a percentage point above the Fed’s target.
The U.S. economy has largely defied the central bank’s efforts to slow the economy by raising borrowing costs for households and businesses.
The economy far exceeded expectations by adding 353,000 jobs last month while holding the unemployment rate steady at 3.7%, a historically low figure, according to data released by the U.S. Bureau of Labor Statistics earlier this month.
Gross domestic product performed much better than expected at the end of last year, a report this month showed, while consumer sentiment soared in January.
The blockbuster performance, however, could pose a challenge for the inflation fight taken up by policymakers at the Federal Reserve.
The Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand could lead to an acceleration of price increases.
Speaking in Washington, D.C., late last month, Fed Chair Jerome Powell celebrated the steady decline of inflation over recent months and welcomed the robust hiring occurring alongside it. However, he cautioned about the risks posed by an economy that runs too hot.
“We’re not looking for a weaker labor market,” Powell said. “We’re looking for inflation to continue to come down, as it has been coming down for the last six months.”
“We’re not declaring victory at this point,” he later added. “We think we have a ways to go.”
(NEW YORK) — Super Bowl viewers could hardly miss an ad blitz from e-commerce company Temu promising low prices that allow customers to “shop like a billionaire.”
The company’s app vaulted to second place among the most downloaded free apps on Apple devices, Apple rankings showed Monday.
The platform sells competitively priced versions of everything from sneakers to jewelry to drones. However, Temu has faced concerns of customer dissatisfaction, data risks and lax oversight over the potential use of forced labor in its supply chain.
Temu did not immediately respond to ABC News’ request for comment.
On its website, the company says it “cares deeply” about data privacy. “Temu does not ‘sell’ personal information in the traditional sense,” the company adds, acknowledging that it does share some data with third parties to improve service.
In a statement to Time in 2022 about its operations, the company said its low prices are made possible by a “deep network of merchants, logistic partners and [Pinduoduo’s] established ecosystem built over the years.”
Temu is a United States-based offshoot of Chinese e-commerce giant Pinduoduo, which boasts one of that country’s most popular apps, selling a wide range of products to more than 750 million users each month, according to a 2022 earnings report.
Launched in 2022, Temu mimics the business model of its sister company, offering just about everything at discounted prices. Even more, customers earn store credit for promoting the company on social media or playing games hosted on its website.
A four-pack of “Oprah-style reading glasses” costs $13.97; a men’s collared shirt bearing the American flag runs $8.90; and a pair of hook earrings costs $3.14, according to the company’s website.
Since many of Temu’s suppliers operate overseas, the company offers standard shipping times of up to 23 days, Temu says on its website. Express shipping, which costs an extra $12.90, promises delivery within 12 days.
Since local carriers may handle a portion of the delivery process, customer tracking may not be available for every step of the shipping period, Temu says.
The Better Business Bureau slapped Temu with a C+ rating, noting 1,625 customer complaints closed in the past 12 months.
Since Temu is privately owned, the company does not regularly disclose details about performance, such as its scale and revenue.
The company ships tens of millions of packages to the U.S. each year from roughly 80,000 sellers who list products on its website, according to a report in June 2023 from the U.S. House Select Committee on the Chinese Communist Party.
The House report also raised concerns about the potential use of forced labor in the company’s supply chain.
Temu’s delivery network includes more than 80,000 suppliers, the report found. The company told House investigators it does not explicitly prohibit sellers on the platform from using suppliers based on their origin in the Xinjiang Autonomous Region, an area known for the exploitation of Muslim-minority Uyghurs in forced labor.
“American consumers should know that there is an extremely high risk that Temu’s supply chains are contaminated with forced labor,” the report said.
(NEW YORK) — Honda and Acura recalled a combined 750,000 cars this week over an airbag defect, becoming the latest in a series of recalls this year that has touched carmakers from Tesla to Ford.
The near-daily headlines warning of a recall amount to more than an eye-catching coincidence.
Car recalls have surged in recent years, owing largely to the increased complexity of vehicles replete with electronic components that increase the likelihood of a malfunction, according to an ABC News analysis of government data and interviews with experts.
The average number of car recalls each year jumped 46% over a 10-year period ending in 2022, when compared with the average over the preceding 10 years, National Highway Traffic Safety Administration data shows.
Over the five years ending in 2022, the U.S. averaged more than 1,000 car recalls each year, or about 27 per day, the data shows. Until 2016, the U.S. had not exceeded 1,000 car recalls in any year going back to at least 2002.
“More complicated vehicles definitely result in more issues,” Ivan Drury, an auto analyst at data firm Edmunds, told ABC News.
“Vehicles have advanced to a degree we’ve never seen before,” Drury added, citing high-tech features such as self-driving capability and back-up cameras. “It’s such a wide swathe of issues that recalls cover that you’re going to see this more and more.”
In December, for instance, Toyota recalled 1.12 million vehicles worldwide because a sensor malfunction could cause the airbag to deploy incorrectly.
The same month, Tesla recalled about 2 million cars over a safety issue tied to its autopilot system. The company announced an additional recall last week of 2.2 million vehicles over the font size on its warning lights.
“Let’s just think about 20 years ago, we were just getting into airbags becoming standard,” Brian Moody, executive editor at Autotrader, told ABC News. “A lot of these complex pieces of equipment and technology today have to work together to get a better experience for the consumer.”
Tom McParland, operator of the vehicle-buying service Automatch Consulting, echoed the view.
“As you add more components to vehicles, as vehicles get more tech heavy, you’re going to have more failure points,” McParland said.
The spike in car recalls should not necessarily worry consumers, since defects range widely in severity. The uptick in recall announcements, they added, illustrates a regulatory system essentially working as intended.
“A lot of these recalls don’t fall under a stop-sale order or tell you to stop driving your car,” Drury said. “The stuff that’s more minor might not catch your attention but you do want to get it fixed.”
Repairs undertaken in response to a recall are free of charge to the car owner, the experts said. When purchasing a used car, prospective buyers can check online whether the car received repairs in response to a possible recall.
Due to the complexity and speed of auto production nowadays, recalls offer a necessary opportunity for fixes to problems that go undiscovered before a car hits the road, Moody said.
“In the end, it’s good for consumers that we have a recall system,” he added.
(WASHINGTON) — Senators grilled chief executives from three top pharmaceutical companies over prescription drug prices during an hourslong committee hearing Thursday on Capitol Hill.
Members of both major political parties bemoaned drug prices they consider too high, but liberals and conservatives revealed differences in their views of the role played by the pharmaceutical companies.
The three CEOs — Robert M. Davis of Merck, Joaquin Duato of Johnson & Johnson and Christopher Boerner of Bristol Myers Squibb — said drug prices account for the considerable cost of research and development, as well as the ready availability of treatments in the United States.
Here are the four biggest takeaways from the CEOs’ testimony before the Senate Committee on Health, Education, Labor and Pensions:
Liberals confronted the pharmaceutical CEOs over prices, executive compensation
The testiest moments of the hearing came when liberal lawmakers challenged the pharmaceutical executives over what the senators said they viewed as high prices, invoking anecdotes of patients forced to choose between purchasing medicine or paying for essentials such as rent or food.
The senators pointed to millions of dollars in executive compensation and billions in stock buybacks and dividends as areas where the companies could trim costs and put the savings toward price reduction.
In one heated exchange, Democratic Sen. Chris Murphy from Connecticut challenged Duato, accusing Johnson & Johnson of prioritizing shareholder returns over drug development.
In 2022, Murphy said, the company spent a combined $17 billion on stock buybacks and dividends compared to $14 billion on research and development.
“Can you understand that one of my constituents in Connecticut would look at those numbers and think that you care more about padding the pockets of folks who work for you and invest in you than in research and development?” Murphy said.
In response, Duato said, “Our priority is investing in R&D.”
“We have to pay dividends because it’s the only way the company can remain operational and sustainable,” Duato added. “Otherwise, if we’re not operational and sustainable, we are not able to fulfill our mission of developing medicines for patients and making them affordable.”
Senators grilled the CEOs on why the same drugs cost more in the U.S. than in other countries
Liberal lawmakers repeatedly criticized the relatively high cost of drugs in the U.S. compared to other wealthy countries such as Canada, France and Japan.
In 2022, prices for brand-name drugs in the U.S. were at least three times higher than those in 33 other wealthy nations, according to a report this month commissioned by the Department of Health and Human Services.
For instance, Bristol Myers Squibb charges patients $7,100 per year for blood-clot drug Eliquis in the U.S., while the same product can be purchased for $900 in Canada and just $650 in France, Vermont Sen. Bernie Sanders, an independent, said.
“Does Bristol Myers Squibb make a profit selling Eliquis for $900 in Canada,” Sanders asked Boerner, the company’s CEO.
“Yes, we make a profit,” Boerner said.
“Will you commit to reducing the list price in the U.S. to the price in Canada?” Sanders asked.
In response, Boerner said, “We cannot make that commitment.” He cited the relative accessibility of drugs in the U.S. compared to Canada.
“In Canada, medicines are generally made less available and it takes oftentimes considerably longer for them to be made available,” Boerner added.
Republicans shared the concern about prices but defended drugmakers
Republican senators on the committee echoed the concern about high drug prices but largely avoided faulting the pharmaceutical companies and their executives.
“Let’s just be clear, everybody in this panel cares about the high cost of prescription drugs and wants to work on real solutions to address this,” Republican Sen. Bill Cassidy of Louisiana said. “I don’t want the committee to delve into a CEO whack-a-mole that ends up with no serious legislation as a result.”
Kentucky Sen. Rand Paul, a Republican, defended the profits delivered by pharmaceutical companies in recent years, lauding their breakthrough drugs and philanthropy. Paul criticized, meanwhile, the line of questioning taken up by Democrats, who make up the majority on the committee.
“Unfortunately, this committee isn’t here to celebrate American success, instead the majority wants to drag us here to conduct a show trial to harangue companies,” Paul said.
Pharmaceutical CEOs pointed to high research and development costs, middlemen
For their part, the chief executives acknowledged the elevated price of drugs in the U.S.
However, the CEOs placed the blame on cost-intensive research and development, as well as industry middlemen known as Pharmacy Benefit Managers, or PBMs.
“Right now, we have nearly 20,000 researchers seeking breakthrough treatments,” said Davis, of Merck. The company has invested almost $160 billion in research and development since 2010, including $30 billion in 2023, Davis said.
All three CEOs aimed their ire at PBMs, third-party administrators hired by large employers and other institutions to set prices in negotiations with drugmakers.
PBMs undermine pharmaceutical companies’ efforts to ease the costs borne by patients, said Duato, of Johnson & Johnson.
“Congress should stop middlemen from taking for themselves the assistance that pharmaceutical companies intend for patients,” Duato said.
Google Headquarters is seen in Mountain View, California, United States on May 15, 2023. (Tayfun Coskun/Anadolu Agency via Getty Images)
(NEW YORK) — Google announced Thursday that it is joining a coalition of companies dedicated to helping increase transparency around artificial intelligence and digital content.
As examples of AI-generated content continue to make headlines — from fake sexually explicit AI images of Taylor Swift, to a deceptive AI-generated voice clone of President Joe Biden — the need for clarity around what we are seeing online seems more urgent.
“The danger of deepfakes isn’t the deception it’s the doubt because once you doubt everything, then you don’t believe anything,” said Dana Rao, Adobe’s general counsel and chief trust officer, in an interview with ABC News. “And so that’s why we always like provenance.”
“We want to make sure that, ideally, we have solutions that tell us the origin of content and that tell us whether it’s been altered or changed,” added Laurie Richardson, vice president of trust and safety at Google.
Since its creation in 2021, the Coalition for Content Provenance and Authenticity (C2PA) has been working toward creating an open technical standard providing publishers, creators and consumers the ability to trace the origin of different types of media.
The C2PA says its developed those solutions and now, with Google backing the effort, there’s belief widespread adoption might be around the corner.
Content credentials — often described as a “nutrition label” for digital content — are tamper-resistant and allow the metadata to be attached to digital content, showing how and when the content was created and modified.
“It’s like an evidence bag,” C2PA Chair Andrew Jenks told ABC News. “When a police officer goes to a crime scene and picks up a piece of evidence and puts it in a bag, he signs and seals that bag. When it arrives to in the courtroom, you can look back at the record and see every place the evidence has been”
This “nutrition label,” if adopted by social media platforms and publishers, could be displayed on every piece of content hosted online allowing users to access the history of any piece of content.
Google will now be a member on the C2PA steering committee, joining Adobe, Microsoft, Intel, Truepic and other companies helping set the technical direction and focus of the group.
Richardson said there isn’t anything specific to share in terms of how Google will implement the technology across its products, but she’s hopeful that they will have more to share in the coming months. With upcoming elections around the world, there is an “urgency” in making sure that Google is helping shape an “ecosystem wide solution, said Richardson.
The standard, however, does seem to be gaining momentum quickly. Just this week, Open AI announced that images generated in ChatGPT, and its API now include metadata using C2PA specifications.
This means that anyone, including social platforms and content distributors, are able to see that an image was generated using an Open AI Product.
Meta also announced it is developing a set of tools that can identify invisible markers at scale — like the digital signature developed by the C2PA.
“This is a moment we’re talking about the dangers and the risks of deep fakes and AI, and we should, but this is also proof, there’s a lot of work going on towards solutions and more towards invention and towards getting together in this space,” Clement Wolf, head of information quality & AI strategy, trust & safety at Google, told ABC News.
(NEW YORK) — Many Americans have put off buying a new sport utility vehicle or truck because of steep prices and high interest rates.
Now, however, may be the right time to upgrade that older model, industry watchers say.
“2024 is probably the best year since the pandemic to buy a new car,” Mark Schirmer, director of industry insights at Cox Automotive, told ABC News. “2021 and 2022 were really difficult years. Dealers are talking about discounts again … this was not happening 18 months ago. The shelves are full and there are more selections now.”
The pandemic supply crunch has largely been resolved, Schirmer noted, and deals on new vehicles are getting better — leading to higher customer satisfaction with the car-buying process.
Interest rates are still historically high — the average APY was 9.2% in December — but they’ve fallen from last fall’s peak, Schirmer said. Prior to the pandemic, interest rates for new vehicles ranged from 4% to 5%.
“As interest rates come down and discounts increase, some people who have been pushed out of the market may come back,” Schirmer said. “What we’re seeing now is a more normal market.”
Of course, it may be tough to score a discount on the hottest and latest models. The brands that have excess inventory on lots and are more likely to lower prices are Ford, General Motors and Stellantis, according to Schirmer.
John Lawler, Ford’s chief financial officer, said in November that the automaker was closely monitoring prices and would likely offer deep incentives to woo shoppers.
Consumers are also asking: Will the days of 0% financing on new models return?
“Never say never,” according to Nishit Madlani, a managing director at S&P Global Ratings, who added that he expects the level of incentives to rise in 2025.
“With inventory going up, we’ve shifted to a buyer’s market,” he said.
Madlani blamed elevated vehicle prices on fleet sales and Americans’ preference for gargantuan trucks and SUVs.
“The market is 80% trucks now and 20% sedans … people are willing to pay up for larger vehicles,” he said. “Auto sales have been resilient.”
Jessica Caldwell, head of insights for Edmunds, said drivers expect — and demand — more amenities in their vehicles, which can quickly increase the MSRP. The average transaction price of a new vehicle was nearly $49,000 in December, according to Edmunds data.
Moreover, hybrids and vehicles with big, V8 engines are also seeing huge interest from consumers and are selling at or above their sticker price.
Many Americans who are strapped for cash still cannot afford to finance luxury priced vehicles, she said.
“Prices are getting softer … but we’re seeing demand at the lower end of the market, at the price points people can afford,” Caldwell explained.
Low interest rates are available to consumers, she pointed out, but getting one often requires paying off the loan in less than four years.
“People can’t afford to pay a car off in 48 months,” she said, adding that “very few Americans buy cars in cash.”
Madlani, though optimistic about new vehicle sales, said a reversal in the economy and stubbornly high rates could cause consumers to become delinquent on their auto loans.
“We’re already seeing a higher level of younger people defaulting on loans,” he said.
The best deals right now may be on electric vehicles, with an influx of models and slower pace of adoption among drivers. The number of incentives on EVs is higher than the industry average and consumers can save up to 9% on the vehicle’s price, according to Cox Automotive data.
“The EV market is extremely competitive and there will be very intense pricing pressure for all players,” Madlani said.
Added Caldwell: “A lot of Americans are still not interested in making the switch to an electric vehicle. There needs to be more price slashing on EVs to get Americans to buy them.”
(NEW YORK) — The U.S. economy shattered expectations in recent weeks, extending a run of overachievement that has quieted some of the most skeptical economists.
Americans, however, remain sour. Less than 3 in 10 adults rate current economic conditions as “excellent” or “good,” a Pew survey last month found.
The dynamic holds significant implications for a potential general election rematch between President Joe Biden and former President Donald Trump. The economy is the top issue for voters, an ABC News/Ipsos poll in November found.
The disconnect between triumphant economic performance and glum sentiment traces in part to elevated prices at the grocery store or in the housing market, as well as a partisan reluctance among some to acknowledge success under Biden, experts told ABC News.
But, they added, the enthusiasm gap may also owe to the divergent economic performance between states, and even between localities within those states. This uneven reality betrays the rosy nationwide picture, especially when it comes to the challenge posed by high expenses, experts said.
“It really does depend on where you’re living,” Lee Bowes, CEO of job-placement firm America Works, which provides training and resources for low-income people nationwide, told ABC News. “A place like Fresno, by California standards, is a less expensive place to live. San Francisco is a complete disaster.”
At the national level, the economy performs well on just about every measure of economic health. Inflation is falling, job growth is surging and gross domestic product is proving much more resilient than expected in the aftermath of near-historic interest rate hikes.
Since the middle of last year, the pace of wage growth has even exceeded that of inflation, leaving earners with more money to spend, Bureau of Labor Statistics data shows.
An ABC News analysis of state-level economic data, however, shows a sizable gap between the best-performing states and localities, and the worst-performing ones.
Seven states grapple with a convergence of three negative trends: lower-than-average growth, above-average unemployment and above-average gas prices. Some of those states are among the nation’s most populous, including California, New York and New Jersey.
Within those states, some cities face much more difficulty than others. In New York City, for example, the unemployment rate stands at 5.4%, far exceeding the nationwide rate of 3.7%.
Meanwhile, expenses in the borough of Manhattan are 122% higher than the average city, according to the Cost of Living Index from the Council for Community and Economic Research. Only 3 in 100 home listings in New York City are affordable for a typical household, a Redfin report found.
“Let’s not kid ourselves, prices are way up,” Mark Jaffe, CEO of the Greater New York Chamber of Commerce, told ABC News, citing a steep rise in prices compared to where they stood pre-pandemic. “It’s a huge problem.”
By contrast, eight states boast better-than-average unemployment, GDP growth and gas prices. An additional state, North Dakota, stands tied for the nation’s lowest unemployment rate and holds one of its lowest average gas prices.
North Dakota’s largest city, Fargo, carries the second-lowest unemployment rate of any metropolitan area in the U.S., Bureau of Labor Statistics data show. Further, the city has lower-than-average cost of living and higher-than-average median income.
“Many would not think Fargo is having the growth that it is,” Shannon Full, president and CEO of the Fargo Moorhead West Fargo Chamber of Commerce, told ABC News.
The city plays host to a growing tech sector, focused especially on agricultural products such as autonomous farming equipment, Full added.
“That’s one of our best kept secrets,” she said.
Full characterized sentiment among businesses and consumers as “cautious optimism,” citing the opportunity afforded by a combination of strong job growth and affordable cost of living.
To be sure, attitudes about the economy have improved in recent months, data shows. Consumer sentiment soared in January but remains well below pre-pandemic levels, a University of Michigan survey found.
When asked whether they prefer Biden or Trump on the issue of handling the economy, voters chose Trump by a margin of more than 20 percentage points, according to an NBC News poll released on Sunday.
In a statement to ABC News, Biden campaign spokesperson Seth Schuster touted the current state of the economy, saying it puts the campaign in a position to win reelection.
“President Biden is proud to run on a record of falling inflation, historically low unemployment, and rising consumer confidence — a winning economic record Donald Trump could only dream of,” Schuster said.
The Biden campaign did not respond directly to ABC News’ question about the disconnect between economic performance and consumer sentiment.
Dennis Hoffman, an economics professor at the University of Arizona, said overall negative sentiment about the economy derives in part from conservative voters who refuse to offer a positive assessment because the current president belongs to the opposition party.
“This group will say the economy is terrible, then they hang up the phone, order off of Amazon and go out to dinner,” Hoffman told ABC News. “They go on with their lives and they’re fine.”
Still, Hoffman added, the variation in economic conditions across states and localities could also help explain the gap between economic sentiment and performance.
“It’s a possible explanation,” Hoffman said. “Some states are more dynamic than others.”
How is your state’s economy doing?
Each statewide statistic is followed by one of the following:
+ = better than where the metric stands nationwide
— = worse than where the metric stands nationwide
* = matches where the metric stands nationwide
Nationwide
Unemployment: 3.7%
GDP growth: 4.9%
Gas prices: $3.15
Home prices: $402,646
Median income: $74,580
Alabama
Unemployment: 2.6% +
GDP growth: 4.1% —
Gas prices: $2.89 +
Home prices: $271,300 +
Median income: $59,110 —
Alaska
Unemployment: 4.5% —
GDP growth: 4.1% —
Gas prices: $3.49 —
Home prices: $370,700 +
Median income: $89,740 +
Arizona
Unemployment: 4.3% —
GDP growth: 4.9% *
Gas prices: $3.24 —
Home prices: $430,000 —
Median income: $73,450 —
Arkansas
Unemployment: 3.4% +
GDP growth: 0.7% —
Gas prices: $3.24 +
Home prices: $241,300 +
Median income: $73,450 +
California
Unemployment: 5.1% —
GDP growth: 4.8% —
Gas prices: $4.58 —
Home prices: $756,800 —
Median income: $85,300 +
Colorado
Unemployment: 3.4% +
GDP growth: 5.8% +
Gas prices: $2.75 +
Home prices: $548,200 —
Median income: $89,930 +
Connecticut
Unemployment: 3.8% —
GDP growth: 4.7% —
Gas prices: $3.21 —
Home prices: $380,400 +
Median income: $90,730 +
Delaware
Unemployment: 4.2% —
GDP growth: 3.3% —
Gas prices: $3.15 —
Home prices: $337,600 +
Median income: $80,750 +
Florida
Unemployment: 3.0% +
GDP growth: 6.1% +
Gas prices: $3.21 —
Home prices: $403,800 —
Median income: $65,370 —
Georgia
Unemployment: 3.4% +
GDP growth: 4.5% —
Gas prices: $3.02 +
Home prices: $355,800 +
Median income: $67,730 —
Hawaii
Unemployment: 2.9% +
GDP growth: 3.7% —
Gas prices: $4.67 —
Home prices: $757,800 —
Median income: $91,010 +
Idaho
Unemployment: 3.3% +
GDP growth: 7.0% +
Gas prices: $2.90 +
Home prices: $460,900 —
Median income: $72,580 —
Illinois
Unemployment: 4.8% —
GDP growth: 4.1% —
Gas prices: $3.20 —
Home prices: $257,100 +
Median income: $78,020 +
Indiana
Unemployment: 3.6% +
GDP growth: 4.8% —
Gas prices: $2.96 +
Home prices: $240,000 +
Median income: $70,030 —
Iowa
Unemployment: 3.2% +
GDP growth: 4.1% —
Gas prices: $2.83 +
Home prices: $221,400 +
Median income: $76,200 +
Kansas
Unemployment: 2.8% +
GDP growth: 9.7% +
Gas prices: $2.76 +
Home prices: $253,800 +
Median income: $73,040 —
Kentucky
Unemployment: 4.3% —
GDP growth: 4.9% *
Gas prices: $2.84 +
Home prices: $243,100 +
Median income: $55,880 —
Louisiana
Unemployment: 3.7% *
GDP growth: 6.6% +
Gas prices: $2.85 +
Home prices: $241,100 +
Median income: $58,330 —
Maine
Unemployment: 3.2% +
GDP growth: 4.9% *
Gas prices: $3.20 —
Home prices: $363,600 +
Median income: $75,160 +
Maryland
Unemployment: 1.9% +
GDP growth: 2.7% —
Gas prices: $3.20 —
Home prices: $395,400 +
Median income: $108,200 +
Massachusetts
Unemployment: 3.2% +
GDP growth: 4.8% —
Gas prices: $3.15 *
Home prices: $577,400 —
Median income: $93,550 +
Michigan
Unemployment: 4.3% —
GDP growth: 2.9% —
Gas prices: $2.99 +
Home prices: $229,600 +
Median income: $68,990 —
Minnesota
Unemployment: 2.9% +
GDP growth: 4.1% —
Gas prices: $2.89 +
Home prices: $321,500 +
Median income: $90,390 +
Mississippi
Unemployment: 3.3% +
GDP growth: 0.8% —
Gas prices: $2.75 +
Home prices: $228,800 +
Median income: $48,610 —
Missouri
Unemployment: 3.3% +
GDP growth: 4.0% —
Gas prices: $2.80 +
Home prices: $240,000 +
Median income: $71,520 —
Montana
Unemployment: 3.2% +
GDP growth: 4.2% —
Gas prices: $2.90 +
Home prices: $515,100 —
Median income: $72,980 —
Nebraska
Unemployment: 2.3% +
GDP growth: 7.5% +
Gas prices: $2.83 +
Home prices: $271,600 +
Median income: $78,360 +
Nevada
Unemployment: 5.4% —
GDP growth: 6.3% +
Gas prices: $3.85 —
Home prices: $434,800 —
Median income: $72,300 —
New Hampshire
Unemployment: 2.5% +
GDP growth: 4.5% —
Gas prices: $3.09 +
Home prices: $440,300 —
Median income: $84,970 +
New Jersey
Unemployment: 4.8% —
GDP growth: 4.8% —
Gas prices: $3.14 +
Home prices: $484,500 —
Median income: $92,340 +
New Mexico
Unemployment: 4.0% —
GDP growth: 5.7% +
Gas prices: $2.84 +
Home prices: $329,200 +
Median income: $56,420 —
New York
Unemployment: 4.5% —
GDP growth: 3.5% —
Gas prices: $3.28 —
Home prices: $499,200 —
Median income: $75,910 +
North Carolina
Unemployment: 3.5% +
GDP growth: 4.6% —
Gas prices: $2.99 +
Home prices: $358,500 +
Median income: $65,070 —
North Dakota
Unemployment: 1.9% +
GDP growth: 2.9% —
Gas prices: $2.82 +
Home prices: $235,200 +
Median income: $78,720 +
Ohio
Unemployment: 3.7% *
GDP growth: 4.6% —
Gas prices: $3.00 +
Home prices: $221,800 +
Median income: $67,520 —
Oklahoma
Unemployment: 3.4% +
GDP growth: 6.0% +
Gas prices: $2.68 +
Home prices: $230,700 +
Median income: $63,440 —
Oregon
Unemployment: 3.7% *
GDP growth: 4.8% —
Gas prices: $3.60 —
Home prices: $491,100 —
Median income: $86,780 +
Pennsylvania
Unemployment: 3.5% +
GDP growth: 5.6% +
Gas prices: $3.38 —
Home prices: $270,700 +
Median income: $72,210 —
Rhode Island
Unemployment: 3.2% +
GDP growth: 3.9% —
Gas prices: $3.09 +
Home prices: $452,200 —
Median income: $80,650 +
South Carolina
Unemployment: 3.0% +
GDP growth: 5.7% +
Gas prices: $2.90 +
Home prices: $363,600 +
Median income: $61,770 —
South Dakota
Unemployment: 2.0% +
GDP growth: 5.2% +
Gas prices: $2.82 +
Home prices: $299,300 +
Median income: $67,180 —
Tennessee
Unemployment: 3.5% +
GDP growth: 5.2% +
Gas prices: $2.84 +
Home prices: $371,800 +
Median income: $65,380 —
Texas
Unemployment: 4.0% —
GDP growth: 7.7% +
Gas prices: $2.84 +
Home prices: $343,600 +
Median income: $74,640 +
Utah
Unemployment: 2.8% +
GDP growth: 6.1% +
Gas prices: $2.83 +
Home prices: $537,800 —
Median income: $95,800 +
Vermont
Unemployment: 2.2% +
GDP growth: 3.9% —
Gas prices: $3.22 —
Home prices: $376,600 +
Median income: $72,190 —
Virginia
Unemployment: 3.0% +
GDP growth: 4.2% —
Gas prices: $3.05 +
Home prices: $408,000 —
Median income: $85,170 +
Washington
Unemployment: 4.2% —
GDP growth: 5.1% +
Gas prices: $3.92 —
Home prices: $588,000 —
Median income: $89,430 +
West Virginia
Unemployment: 4.3% —
GDP growth: 3.7% —
Gas prices: $3.01 +
Home prices: $282,000 +
Median income: $52,460 —
Wisconsin
Unemployment: 3.3% +
GDP growth: 5.0% +
Gas prices: $2.81 +
Home prices: $275,400 +
Median income: $73,330 —
Wyoming
Unemployment: 3.0% +
GDP growth: 5.7% +
Gas prices: $2.68 +
Home prices: $392,100 +
Median income: $73,090 —
Sources:
Unemployment: Seasonally adjusted unemployment rate by state in December 2023, per U.S. Bureau of Labor Statistics.
GDP growth: Real gross domestic product growth in the third quarter of 2023, at an annual rate, per U.S. Bureau of Economic Analysis.
Gas prices: Average price per gallon of gas on Feb. 7, 2024, per AAA.
Home prices: Median home prices in December 2023, per Redfin.
Median income: Inflation-adjusted median household income by state for 2022, per St. Louis Federal Reserve.
(NEW YORK) — Homeland Security Investigations is cracking down on counterfeit goods before Super Bowl LVIII, a top HSI official told ABC News.
“We’re looking at folks, criminal organizations who are taking advantage of large-scale sporting events,” Jim Mancuso, head of the Homeland Security Investigations National Intellectual Property Rights Coordination (IPR) Center said. “And they’re trying to make a quick buck and they’re selling counterfeit merchandise.”
He said the IPR Center works with brands, associations and academia to better crack down on counterfeit merchandise.
Homeland Security Investigations runs “Operation Team Player,” which is focused specifically on fake sports merchandise.
Over the past year, HSI has seized $28.1 million in counterfeit goods, according to the agency. That includes 94,000 pieces of counterfeit sports merchandise.
“The Super Bowl is a great opportunity for the IPR center and team player to really educate the consumers to say, listen, there are scams out there,” Mancuso said. He doesn’t want Americans to spend their hard earned money on “substandard, inferior products.”
China is the number one exporter of fake goods, Mancuso said.
“The number one location for counterfeit merchandise, not just sporting equipment, but all types of merchandise, the number one location is China,” he said. “Hong Kong is the number two. And that’s where we’re seeing these these items come in from.”
Entering bank or credit card information into websites that sell fake goods could also expose consumers to fraud.
“So as a consumer, if I’m on a shady website, it’s not an authentic website from a true brick and mortar store [or ] it’s a known website that’s reputable, then I’m taking my chances,” he said. “If I’m giving my credit card details, I’ve now just exposed all that personal identifiable information.”
The counterfeiting enterprise is a trillion-dollar business, Mancuso said.
“What that’s doing is that’s robbing American innovation, creativity and all the proprietary stuff that makes the United States great in terms of what we give the world,” he said. “It’s being ripped off, sold at low cost, inferior quality products, and sometimes they can pose an inherent health and safety risk to the American people.”
Igor Golovniov/SOPA Images/LightRocket via Getty Images)
(NEW YORK) — ESPN, Warner Discovery and Fox Sports announced Tuesday that they will partner to create a massive new streaming network dedicated to sports.
ESPN is owned by the Walt Disney Company, the parent company of ABC News.
This is a developing story. Please check back for updates.
