Ilyce Glink Show Notes – June 27, 2010
This Week’s News: Kellogg Cereal Recall, Mortgage Rates Fall, Existing Home Sales and New Home Sales Plummet
Kellogg Cereal Recall
On June 25, Kellogg issued a voluntary recall of select packages of Kellogg’s® Corn Pops®, Honey Smacks®, Froot Loops® and Apple Jacks® cereals. Consumers should not eat the recalled products because they do not meet quality standards.
Here’s the complete press release:
BATTLE CREEK, Mich., June 25 /PRNewswire-FirstCall/ — Working in consultation with the United States Food and Drug Administration (FDA), Kellogg Company (NYSE: K) is implementing a voluntary recall of certain breakfast cereals due to an uncharacteristic off-flavor and smell coming from the liner in the package.
Only products with the letters “KN” following the Better If Used Before Date are included in the recall. Products with a “KM” designation are NOT included in the recall. In addition, no products in Canada are affected.
Kellogg’s® Apple Jacks®
* UPC 3800039136 1: 17 ounce package with Better if Used Before Dates between APR 10 2011 and JUN 22 2011 * UPC 3800039132 3: 8.7 ounce packages with Better if Used Before Dates between JUN 03 2011 and JUN 22 2011
Kellogg’s® Corn Pops®
* UPC 3800039109 5: 12.5 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011 * UPC 3800039111 8: 17.2 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011 * UPC 3800039116 3: 9.2 ounce packages with Better if Used Before Dates between APR 05 2011 and JUN 22 2011
Kellogg’s® Froot Loops®
* UPC 3800039118 7: 12.2 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011 * UPC 3800039120 0: 17 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011 * UPC 3800039125 5: 8.7 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011
Kellogg’s® Honey Smacks®
* UPC 3800039103 3: 15.3 ounce packages with Better if Used Before Dates between MAR 26 2011 and JUN 22 2011
While the potential for serious health problems is low, some consumers are sensitive to the uncharacteristic off-flavor and smell and should not eat the recalled products because of possible temporary symptoms, including nausea and diarrhea.
No other Kellogg’s products are part of this recall. The recalled products were distributed nationwide.
“We apologize to our consumers and our customers and are working diligently to ensure that the affected products are rapidly removed from the marketplace,” said David Mackay, president and chief executive officer, Kellogg Company.
Those with questions or who would like a replacement may contact the Kellogg Consumer Response Center at 888-801-4163 from 8 am to 8 pm Eastern time.
SOURCE Kellogg Company
Mortgage Rates Fall, Hit New Record
Mortgage interest rates hit an all-time low of 4.69 percent for a 30-year fixed rate loan. But depending on where you live, you might have been able to get a 30-year rate for as little as 4.4, 4.3 or even 4.25 percent. Also, 15-year mortgage rates hit 4.0 percent and that got me thinking about whether I should refinance my brand new 4.25 percent 15-year fixed rate loan. Numbers are from the weekly Freddie Mac survey, BankRate, Zillow Mortgage Marketplace, and other sources.
Existing Home Sales and New Home Sales Plummet
Existing home sales fell 2.2 percent in May, according to the National Association of Realtors. New home sales plummeted 33 percent, to an annualized pace of 300,000 units sold – the LOWEST ON RECORD. What does this say about the so-called recovery?
Bill called the show to figure out why his lender is charging him 10 months for his tax escrow. I told
Introducing the Equifax Personal Finance Blog
On the blog, you’ll find great information about the five pillars of personal finance:
Tax (written by Eva Rosenberg, an enrolled agent)
Insurance (written by Linda Rey, who is president of her family’s insurance company)
Retirement/Investing (written by Dan Solin, see above)
Credit (written by Equifax’s own credit experts)
Real Estate (written by yours truly)
The blog is a great resource of information and ideas on how to save money, better manage your credit and make smarter decisions with your money. Check it out, RSS it, bookmark the page, and follow all of us on Twitter.com/EquifaxPFB.
Here’s what we’re talking about on the Equifax Personal Finance Blog this week.
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