Death at Pinehills spurs probe

The owner of Diaz Construction Co., whose worker was killed on a Plymouth job site Tuesday, said the Avon company tries to go "by the book" when it comes to safety.

But Leonel Diaz's company has been cited by the U.S. Occupational Safety & Health Administration for 19 safety violations totaling $46,000 in initial fines — 15 of which were deemed serious violations — since 2005, according to OSHA records.

OSHA is investigating the death of Jason Faria, a Diaz Construction employee who died at The Pinehills residential community in Plymouth, where the Mirabeau Inn & Spa is under development. The Fall River man was killed when a concrete form to which he was harnessed came loose and fell, according to Mike Fish, a partner at the project's general contractor, JK Scanlon Co.

Diaz Construction is a subcontractor on the project for whom Faria had worked for four years.

"Everything looked safe," Diaz told the Herald yesterday. "Nobody knows how it happened. We have a safety officer, and we try to do everything by the book. That's why he was tied up."

Faria would have turned 27 years old yesterday.

His stepfather, Mario Benjamin, said he was unaware of Diaz Construction's past safety violations.

"I work in construction, and a lot of companies do get fined," Benjamin said. "This is just a tough situation. What I know is he was tied up on his harness on a concrete form … and the form started to slip down, and he tried to unhook the harness to jump off, but he couldn't."

An OSHA spokesman confirmed the agency has launched an investigation. OSHA has fined Diaz Construction for safety violations on eight separate occasions after job site inspections that were planned or the result of complaints in 2005, 2006, 2007, 2010 and 2011, according to OSHA documents.

The violations ranged from issues with scaffolding, protruding steel, protective helmets and protecting employees from potentially hazardous loose rock or soil to daily excavation inspections, protecting employees from cave-ins, portable ladders, safety training, and eye and face protection, the documents state.

Diaz, who told the Herald that he wasn't on the job site when Faria died, said he was awaiting OSHA's report on the incident.

"The hard part is that we lost Jason," Diaz said. "Everybody feels sorry about that. He was a good worker, a nice kid. We're sorry for him and his family."

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Cambridge single-family fresh from makeover

This unassuming two-family in North Cambridge has been converted into an upscale single-family home.

Built in 1894, the 2,100-
square-foot three-bedroom home at 225 Rindge Ave. was recently renovated with new systems and wiring, higher ceilings, slate and wide-plank wood laminate floors, recessed lighting and all-new marble bathrooms. It's on the market for the just-reduced price of $839,900.

Geared for low maintenance, the home has new vinyl siding and a tankless water-heating system. And although there is no front yard, there is a fenced-in grass backyard.

The exterior has been nicely restyled with gray siding and white trim with plum-colored shutters. A small front porch leads into a foyer with brown slate floors and a cutout that opens up to the adjoining living room, which has 10-foot ceilings with white soffits, wood floors and recessed lighting.

Straight ahead from the foyer, through French doors, sits a sunny formal dining room with two windows, recessed lighting and slate floors. At the far end of this room, under a metal overhead fixture, is a granite-topped cutout leading into the kitchen.

The home's recessed-lit kitchen has white soffits, brown slate floors, 15 custom wood cabinets and granite counters and backsplash. There are Samsung, Kitchen Aid and Whirlpool stainless-steel appliances.

Off the kitchen is a half bath and at the end of a slate hallway, there's a laundry room with a full-size Whirlpool washer and dryer.

The home's three bedrooms are on the second floor, reached via a turning staircase. The master bedroom suite, with wood floors and two closets with built-ins, has a high-end bathroom with brown marble floors and walls around a tub and shower and a stylish double-sink vanity. There's a back porch leading from this bedroom.

There are two other bedrooms, one good for a children's room and a third that's nursery sized. There's a stylish, second full marble bathroom with tiled surround for a tub/shower and white sink vanity.

The home's finished basement has a slate-floored family room plus an adjoining home office. There's also a full ceramic-tiled bath here with a tub/shower and white sink vanity.

There's extra storage space in an unfinished area of the basement, along with the home's high-efficiency gas-fired heating and cooling system, as well as a Rinnai tankless water-heating system.

A driveway next to the house accommodates three vehicles.

Broker: Bremis Realty, brokers Brenda Bremis at 617-828-1872 and Stephen Bremis at 617-828-1070

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Scion FR-S: Sporty ride
 at a great price

I loved the reaction I got to the 2013 Scion FR-S — is this a Porsche? Not quite, but this is a true sports car indeed.

I was quickly relieved to find the FR-S wasn't just a sports car lite made for kids fresh out of school looking for glitz with nothing under the hood to back it up. This is truly a high-performance car meant to be driven and a car that willingly returns the favor by being a blast to drive. As soon as the first exhaust note growls out, you know you've got a tiger by the tail.

The 2.0-liter 200-horsepower FR-S is born of a collaboration between independent Subaru and powerhouse Toyota. The Subaru boxer engine mated to a six-speed transmission is wrapped by aggressive styling, creating one very fun car to drive. The shark-like sweeping lines harken back to European sports cars of the '60s and '70s but with 2013 engineering.

The front and rear independent MacPherson struts with 17-inch alloy wheels turn this coupe into a quick, spirited and tight car to drive. The roadster handles crisply and stops confidently with precise steering and powerful ventilated brakes. Throw this nimble car into a turn, happily motor down the highway and it'll pay you back with immense feedback.

What is truly great about this hot little number is the little number — the price. As tested the FR-S will cost you just $26,166. The only upgrade that is available is the $635 stereo, so what you see is what you get with this rear-wheel-drive sportster. The FR-S is a little more than half the cost of the Porsche Boxster and a more powerful car than the Mazda Miata.

A race-inspired interior sports an extremely supportive seat and the thick, red stitched, leather-wrapped steering wheel moves the car with just a flick of the wrist. Even without the six-speed stick the car is powerful, quick and fast. A punch of the gas, downshift with the paddles and you go. There's no lag and when you drop it into sport mode, the shift points switch to aggressive gearing allowing you to wring out every RPM.

The clean dash has a speedometer, tach and gauges in plain view. The stereo was a bit cumbersome, but once I figured it out setting my stations and phone was not too hard. The interior is well-fitted and good-looking with cloth and mixed plastics. Aluminum trimming and accents finished the cockpit. Humorously, it has two "rear" seats that really are for stowing some gear, but my golf clubs had to ride in the passenger seat.

The FR-S returns a solid average of 28 mpg, rating at 25 in the city and 34 mpg on the highway. Although it's a twin mechanically to the Subaru BRS, it has different standard equipment so it cost about $1,000 less.

Compare this sports car to the Honda Civic Si, Hyundai Genesis and don't be afraid to sneak a peak at the Porsche and Nissan 370z to see how favorably it stacks up.

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The Ticker

Initial jobless claims up

Initial jobless claims rose by 7,000 last week, according to the Labor Department, but the overall trend points to an improving job market.

New jobless claims rose to 343,000 last week after dropping by 22,000 the week before. The four-week average, which is seen as a less volatile number, fell by 1,250 to 345,250.

New unemployment applications indicate layoffs in the country.

More than 4.8 million Americans received unemployment benefits in the week that ended July 6, down nearly 20 percent from a year before. July unemployment numbers will be released on Aug. 2.

Starbucks profit rises on U.S. sales

Starbucks Corp. yesterday posted a bigger than expected jump in quarterly profit after new "Refresher" fruit beverages and seasonal Frappuccino iced drinks helped drive more visits to its shops in the United States, its top market. The world's biggest coffee chain also raised its full-year profit forecast, sending shares soaring almost 6 percent in after-hours trading.

Amazon reports $7 million loss

Amazon reported a loss of $7 million for the second quarter, or 2 cents per share for the three months through June.

Wall Street analysts had expected Amazon to earn 
5 cents per share in the second quarter.

The company reported sales of $15.7 billion, a 
22 percent increase from the same quarter last year. The growth in sales was just shy of analysts' expectations of $15.73 billion. Amazon shares dropped by almost 2 percent in after hours trading.

GM sales increase 3.9 percent

General Motors second-quarter sales rose 3.9 percent, signaling the largest U.S. automaker is poised for growth with one of the biggest waves of new models in its history.

While net income dropped on falling profit from the unit that includes India and southeast Asia, earnings excluding some items beat analysts' estimates. Revenue rose to $39.1 billion from $37.6 billion.

TODAY

• Samsung Electronics reports quarterly financial results.

THE SHUFFLE

• Seven Step RPO announced that Jason Berkowitz, above, has joined the company as vice president of client services. Berkowitz will maintain strategic client relationships, while further developing Seven Step's high-performing strategic directors and delivery teams across its Boston and Denver offices.
• Newton-Wellesley Hospital's board of trustees voted to approve the search committee's recommendation to name Kerry Watson as the next president of Newton-Wellesley Hospital. Watson will join Newton-Wellesley from the Duke University Health System in Durham, N.C., where he has been president of Duke Regional Hospital.

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USO not sweet on NECCO

A Revere candy maker's 2009 "salute to the troops" partnership with the USO has turned sour.

The nonprofit United Service Organizations Inc., which supports American troops and their families, is suing New England Confectionery Co. for alleged trademark infringement and false advertising.

NECCO continued to market its "Red, White & You Sweethearts" candies featuring sentiments such as "Proud of U," "USO" and "Home Safe" long after its sponsorship deal with the USO ended — and without compensating the USO, according to a lawsuit filed Tuesday in U.S. District Court in Boston.

The USO yesterday declined comment on the ongoing litigation and 
NECCO did not return calls from the Herald.

Under a one-year agreement in 2009, the USO signed NECCO as exclusive confections sponsor of its Operation USO Care Package program for May through September of that year. The deal allowed NECCO to use the USO trademarks and logo to market its specially themed red, white and blue Sweethearts in return for a $75,000 donation. The Sweethearts were included in USO care packages sent to American military troops, and NECCO sold them online and in stores in packaging that promoted the program.

But NECCO continued to sell the USO-branded candies and tout a USO partnership from May 2010 through February 2011, even though both sides failed to negotiate a new contract for that period, according to court documents.

"…Without the consent or authorization of USO, NECCO unilaterally produced and packaged candy displaying USO trademarks and logos, and commenced a marketing campaign using USO's trademarks and logos for candies identified as "Red White & You Sweethearts," court documents state.

And despite repeated demands from the USO, NECCO "failed and refused to pay" the additional $75,000 donation referenced in its marketing campaign and product packaging, the court documents allege.

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Study: Consolidate state’s 105 pension systems

Consolidating the administration of the state's 105 public employee retirement systems would save nearly $25 million annually in employment costs and stipends that could be used to pay off unfunded pension liability, according to a new study.

The Pioneer Institute, a Boston think tank, estimates that consolidation could save up to $22.5 million in annual labor costs and another $2.3 million in retirement board member stipends. Each local retirement system is overseen by a board, each of whose five members receives a $4,500 annual stipend, plus travel and other expenses.

"We have so many retirement systems it's very hard to know whether they're doing the right thing," said Iliya Atanasov, Pioneer's senior fellow on finance and one of the study's authors. "If we consolidated that system, we would be able to have substantial savings and have much more transparency about what is going on with pension assets because it would be clear where the responsibility lies and what's happening with those dollars."

Atanasov and co-
author Casey Miles found that the median local board had 524 beneficiaries for every board member, but one of the least staffed boards — Middlesex County — was almost four times as efficient. Only the state employees' system had a lower staffing level, with 2,597 beneficiaries per employee compared with Middlesex's 1,968.
 The largest local system, Boston, has 2 1⁄2 times as many beneficiaries as the Middlesex system but employs almost six times as many staff.

Daniel J. Greene, executive officer of the Boston Retirement Board, could not be reached for comment.

Jon Carlisle, a spokesman for state Treasurer Steven Grossman, who oversees the state retirement board, said the treasury strongly supports cost-saving initiatives but cannot compel independent retirement boards to merge into the state system.

"Instead, the Pension Reserves Investment Management Board, the investment arm of the state retirement system, has encouraged local boards to invest their holdings with it and has attracted those investments through strong performance and outstanding customer service," Carlisle said. 
"The management fees that an independent board can save through this arrangement are substantial."

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Gov't needs $95.51 per share to break even on GM

DETROIT — General Motors stock would have to sell for $95.51 per share for taxpayers to break even on bailing out the company, according to a government watchdog's report released Wednesday.

That price is about three times what GM shares are selling for now, even after a 25 percent increase in the price so far this year.

"There's no question that Treasury, the taxpayers, are going to lose money on the GM investment," Special Inspector General Christy Romero, author of the July quarterly report to Congress, said in an interview.

GM needed the $49.5 billion bailout to survive its trip through bankruptcy restructuring in 2009. Since emerging from bankruptcy, the restructured company has piled up $17.2 billion in profits. In exchange for the bailout, the government got 61 percent of GM's stock. It cut that to 33 percent in GM's November 2010 initial public offering.

The government has gradually been selling off the rest of the stock, with the goal of exiting the investment by April of next year. As of June 6, it still owned 189 million shares, or about 14 percent of the company, according to the report.

Taxpayers are still $18.1 billion in the hole on the $49.5 billion bailout, including interest and dividends, according to the report.

If the government sells its remaining shares of GM for the current stock price of $36.61, it would get just over $6.9 billion, meaning taxpayers would lose about $11.2 billion on the bailout.

When GM was bailed out in 2008 and 2009, the government said it was necessary to stop the industrial Midwest economy from collapsing. Chrysler was bailed out for $12.5 billion at the same time. Taxpayers wound up losing $2.9 billion on that bailout, Romero's report said.

The report says that taxpayers still are owed $14.6 billion for bailing out Ally Financial Inc., which once was GM's auto lending arm. Treasury still owns 74 percent of the company, plus $5.9 billion worth of preferred stock.

Ally has made one principal payment of $2.5 billion since the bailout 4 ½ years ago. It also has paid the government $3.4 billion in dividends, according to the report.

Residential Capital LLC, or ResCap, Ally's troubled mortgage arm, filed for bankruptcy protection last year. Romero criticized Treasury for having no clear plan to deal with mortgage liabilities, which he said is preventing the government from selling its stock.

"We really want to see what's the plan here. How are taxpayers going to recoup our money? Are we taking a loss?" Romero asked.

Overall, the government allocated $474.8 billion to the TARP program to bail out banks, insurers, auto companies and others during the financial crisis. Taxpayers are still owed $57.6 billion, the report stated. Of that, the Treasury Department has written off losses of $29.6 billion, leaving a balance of $28.6 billion outstanding.

That figure excludes $8.6 billion spent on the government's bailout program for struggling homeowners. That money is designated as government subsidies and no repayment is expected, the report said. Romero said Treasury has yet to spend $29.9 billion available for the housing program.

Her report also cited continuing problems with the mortgage aid program, which has been criticized for years for failing to help enough homeowners at risk of foreclosure. The program allows modifications of mortgages for eligible homeowners. The report says the longer homeowners have stayed in the program, the greater their chance of missing payments and defaulting on their modified mortgages.

It says the oldest modifications, from the third and fourth quarters of 2009, have an average default rate of 46 percent, compared with modifications granted in 2010, which have an average rate of 38 percent. About 306,000 homeowners have defaulted of a total 865,000 or so in the program. The original goal was to help 3 million to 4 million struggling homeowners, in a program based on banks participating and reworking mortgages for borrowers — including some with weak credit histories.

Treasury said there will always be a risk of defaults in such a program. But Treasury disputed the idea that homeowners are more likely to default the longer they're in the program, saying that in fact the longer they remain in it, the more likely they are to keep up payments and avoid default.

Treasury has taken steps to improve its ability to give "as many struggling homeowners as possible the chance to keep their home while recognizing that not all will succeed," Mark McArdle, the acting chief of homeownership preservation, said in a post on the department's website. For example, he said, the program established eligibility rules so that mortgage aid would go to those homeowners most in need, and standards to make the modifications provided sustainable for homeowners.

__

AP Business Writer Marcy Gordon in Washington contributed to this report.

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LG's profit falls on weak TV demand, handset costs

SEOUL, South Korea — LG Electronics' latest quarterly report underlined challenges facing global electronics makers as weak TV demand and stiffer competition in smartphones undermine profit.

The results Wednesday showed an 8 percent decline in April-June net profit to 155.5 billion won ($140 million) even as LG's revenue rose 10 percent from a year earlier to 15.2 trillion won ($13.6 billion). Operating profit fell 9 percent from a year earlier to 479 billion won.

LG's TV sales improved a bit and smartphone sales hit a quarterly high of 12.1 million handsets.

But that was not enough to create bigger profits as consumers snapped up cheaper devices that have lower margins for manufacturers. LG said sales of LCD TVs rose but soft TV demand combined with competition from rivals depressed TV prices.

LG's mobile unit is not a cash cow despite being the No. 3 smartphone supplier. Its cheaper smartphones are popular but also burden the company with heavy marketing costs.

To improve its bottom line, LG is rolling out high-end models for its core TV and handset businesses in the current quarter.

Earlier this week, LG began sales in the U.S. market of curved TVs that cost $15,000.

LG and Samsung Electronics Co., the world's two largest TV makers, have invested billions of dollars to make giant TVs with OLED screens, or organic light-emitting diodes, hoping to outclass the crispness and color saturation of other TVs. But there are still challenges to successful OLED mass production, accounting for their high price.

On the smartphone side, LG is set to introduce the latest iteration of its flagship Optimus G series phone in the U.S. in the summer. It will be the company's first new smartphone launch in several months.

The company needs a "mega hit smartphone to dramatically raise its profit," said So Hyun-chul, an analyst at Shinhan Investment Corp.

That is the same challenge facing other top smartphone makers.

While Apple and Samsung Electronics cashed in on the initial explosive growth in smartphone use, impressing consumers with new smartphones has become harder as top handset makers offer similar hardware features. Growth is stalling in developed countries where smartphone use has reached saturation point. Emerging markets are still growing but the demand is for cheaper phones that are less profitable for the handset makers.

LG said its second-quarter smartphone sales increased thanks to demand for middle-tier smartphones.

On Tuesday, Apple reported lower quarterly earnings for the second straight quarter as it increased sales of older, less expensive models of the iPhone instead of the latest version.

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True-crime writer Ann Rule sues Seattle newspaper

SEATTLE — True-crime author Ann Rule is suing a weekly Seattle newspaper, saying she was defamed in 2011 when the fiance of a convicted killer wrote a lengthy article accusing her of "sloppy storytelling."

The lawsuit, filed in King County Superior Court last week, is the latest twist in a long-running feud precipitated by Rule's book about Liysa Northon, an Oregon woman who served 12 years in prison after killing her husband in 2000.

Northon argued she was a battered spouse and said she shot her husband, pilot Chris Northon, during a camping trip in eastern Oregon to protect herself and her children. But Rule's book "Heart Full of Lies" laid out a different theory: that Liysa Northon had long planned the killing and faked evidence of abuse to cover up her real motive, collecting insurance money and other benefits.

Liysa Northon pleaded guilty to manslaughter and was released from prison last fall. She sued Rule for defamation — a case that was dismissed by a federal judge in 2007, with Liysa Northon and her father ultimately being ordered to pay more than $60,000 for Rule's legal fees after an unsuccessful appeal.

In 2011, the Seattle Weekly ran an article about the Chris Northon case by Rick Swart, a freelance writer who previously served as the editor and publisher of a small Oregon newspaper, the Wallowa County Chieftain. The article accused Rule of making numerous mistakes in her book and ignoring important facts beneficial to Liysa Northon's case.

The Seattle Weekly's then-editor, Caleb Hannan, has said he didn't learn until after the article was published that Swart and Northon were engaged. The couple got married in prison later that year.

In a lengthy editor's note days after the piece ran, Hannan explained the omission and said he had uncovered several minor mistakes in Swart's reporting.

Rule argues in her lawsuit that the damage had been done because to sell her books, she relies on her reputation for accuracy and attention to detail.

"The article contained innumerable inaccuracies and untruths concerning the testimony and evidence in the trial of Liysa Northon and also included various unfounded personal attacks on Rule," her lawyer, Anne Bremner, wrote in the complaint. "At the time ... Swart and Northon were engaged, and any meaningful inquiry by Seattle Weekly or Hannan should have discovered this significant source of bias."

Hannan and Swart, who are also named as defendants, did not immediately return messages seeking comment.

"The article in question was published prior to our ownership," Sound Publishing President Gloria Fletcher said in an email. "At the time, Seattle Weekly was owned by New Times Media. Sound Publishing has not been served with any complaint."

The lawsuit seeks "reasonable damages."

Rule has written dozens of books. Her first, "The Killer Beside Me," came out in 1980 and detailed her time working on a crisis hotline with serial killer Ted Bundy.

___

Johnson can be reached at https://twitter.com/GeneAPseattle

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Co. out to create autism blood test, with Google’s funding

A Lexington company will use a $15.4 million funding round led by Google Ventures to determine whether a blood test can lead to earlier diagnosis of autism in children.

SynapDx will use the funding to complete a clinical trial of 660 children between the ages of 18 months and 5 years in North America, including youngsters at the Lurie Center for Autism at Massachusetts General Hospital and Boston Children's Hospital, said Stan Lapidus, the company's CEO.

The purpose of the study is to see if a blood test based on the work of two Children's Hospital scientists — Lou Kunkel and Zak Kohane — can determine children with autism spectrum disorders among a population of kids referred for suspected developmental delay, Lapidus said.

"Our hope," Lapidus said, "is to identify children as early as 18 months" — far earlier than the average age of 4.5 years at which children currently are diagnosed.

Wendy Fournier, president of the National Autism Association, said such a test, if successful, would be "very, very helpful."

"With early diagnosis, you can start treatment sooner," Fournier said, "and the younger you start treatment, the better a child's outcome is going to be."

Since 2006, the federal government has appropriated more than $1 billion for autism research, she said.

But Dr. Krishna Yeshwant, general partmer at Google Ventures, said his company thinks autism research is ripe for a transformation from a behavioral diagnostic approach to a genetic approach.

"Stan and the SynapDx team have approached autism in an incredibly thoughtful way to achieve this transformation," Yeshwant said. "They have assembled the right team, are working deeply with patient groups and have a level of technical sophistication that we haven't seen in the space before."

Foundation Medical Partners also joined the financing as a new investor alongside founding investors North Bridge Venture Partners and General Catalyst Partners,

SynapDx was founded in 2010 and has 18 employees. In February, Laboratory Corp. of America Holdings invested $2 million in the company, followed by a "significant," but undisclosed, investment in March by the Kraft Group, which owns the New England Patriots.

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The Ticker

Hasbro misses mark 
on quarterly earnings

Hasbro's second-quarter net income fell 16 percent, hurt by cautious consumer spending and a steep drop in sales of boys' toys. Toy industry sales have been in a slight decline all year, stung by a video game industry slump, shoppers' curtailed spending and increased demand for electronic gadgets such as smartphones and tablets.

Separately, the nation's second-biggest toy maker announced that it is expanding its merchandising relationship with The Walt Disney Co. for properties including Marvel and Star Wars.

Netflix growth up, but shares drop

Despite a growth in revenue and subscribers, streaming-video giant Netflix saw its stock price dip after reporting its financials for the second quarter.

For the quarter that ended June 30, Netflix revenue was $1.069 billion, up 20 percent from $889 million for the first quarter of 2012, but fell short of Wall Street's expectations of $1.072 billion. Quarterly net income rose to $29 million from $6 million.

Netflix shares were down $14.36, or 5.48%, to $247.60 in after-hours trading.

Meanwhile, Netflix subscriptions grew to about 
30 million U.S. streaming customers, up from 
29.2 million, for a total of 36.3 million worldwide, the company reported.

Analysts had hoped for a larger increase in U.S. streaming subscribers than the reported addition of 630,000.

TODAY

 The Allston Board of Trade, the Brighton Board of Trade and the Brighton Allston Improvement Association are co-sponsoring a forum on the candidates for mayor of Boston.

 Altria Group, Apple, AT&T Dupont, Radio Shack and UPS report quarterly financial results.

TOMORROW

 Commerce Department releases new home sales for June.

 Boeing, Caterpillar, Delta Air Lines, Facebook, Ford, Pepsico and Visa report quarterly financial results.

 Grossman Marketing Group, a print and promotional products company headquartered in Somerville, has announced the hiring of Heidi Quigley. She joins the Somerville office as a special projects associate. In this role, Quigley will be responsible for marketing collateral development, online marketing, social media management and other related duties.

 Foley & Lardner LLP announced that Stuart Fross has joined the firm as partner in the private equity and venture capital practice in the Boston office. Focused on investment management and pooled investment vehicles, Fross brings experience with a wide variety of investment funds including registered open-end, closed-end and exchange-traded funds.

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World stock rise as China slowdown jitters ease

SEOUL, South Korea — World stock markets rose Tuesday as fears of a sharp economic slowdown in China eased.

Chinese media said Premier Li Keqiang had vowed growth wouldn't go below 7 percent, suggesting Beijing will take measures to support the world's second biggest economy after two straight quarters of deceleration.

Stocks rose across the board in Asia and European benchmarks also posted gains.

Li told Cabinet that China's economic growth needs to be kept above a minimum of 7 percent, according to Beijing News. The premier also reaffirmed 7.5 percent as this year's growth target.

The report cleared uncertainty about how much China's government would let the economy slow as it tries to shift the basis of growth toward domestic consumption and away from reliance on exports and industrial investment.

"Premier Li's latest talk contains important information and will surely clarify much confusion," analysts at Bank of America Merrill Lynch said in a report. "He could introduce a small scale fiscal expansion by tapping the central government coffer."

China's Shanghai Composite jumped 2 percent to 2,043.88 and Hong Kong's Hang Seng surged 2.3 percent to 21,915.42.

In Europe, France's CAC-40 added 0.2 percent to 3,948.11. Germany's DAX inched up 0.2 percent to 8,345.32 and Britain's FTSE 100 gained 0.1 percent to 6,626.77.

Futures augured slight gains on Wall Street. Dow futures advanced 0.1 percent to 15,513 and S&P 500 futures added 0.2 percent to 1,693.20.

Analysts said the previous day's downbeat news on the U.S. economy was double-edged for financial markets.

On one hand, the surprising drop in U.S. existing home sales in June to a seasonally adjusted annual rate of 5.08 million dampened optimism about the U.S. economic recovery. But investors could also interpret the weak data as ensuring continued bond-buying by the Federal Reserve.

Emerging market stocks have lost ground since Fed Chairman Ben Bernanke said the central bank will wind down its stimulus when the U.S. economy recovers. The remarks rattled financial markets in Asia, as it prompted foreign investors to pull out their funds from the emerging markets.

"As the U.S. economic data slows down, it could delay the talk on the so-called exit strategies, relieving investors who are worried about emerging markets," said Lim Dong-min, an economist at Kyobo Securities in Seoul.

Japan's Nikkei 225 rose 0.8 percent to 14,778.51, its second day of gains since Prime Minister's Shinzo Abe's ruling coalition gained control of the upper house in weekend elections. That could make it easier for Abe's administration to implement reforms aimed at lifting the world's No. 3 economy out of its long slump.

On Monday, Abe pledged that economic recovery will be the government's top priority.

Since Abe took office following a lower house election victory in late December, aggressive monetary easing and government spending have helped push stocks higher while business confidence has improved and the weaker yen has eased pressure on exporters.

South Korea's Kospi rose 1.3 percent to 1,904.15. South Korea's government said it will unveil a new set of measures to boost the stagnant real estate market including lower taxes on purchases of properties.

Australia's S&P/ASX 200 rose 0.3 percent to 5,017.10.

Investors are looking ahead to a week of corporate earnings reports. Apple Inc. will release its quarterly results after the U.S. market closes on Tuesday. In Seoul, Asian tech titan Samsung Electronics will announce its quarterly performance before trading starts on Friday.

In currency markets, the dollar rose to 99.47 yen from 99.32 yen. The euro rose to $1.3193 from $1.3186.

Benchmark crude for September delivery was down 67 cents to $106.25 a barrel in electronic trading on the New York Mercantile Exchange.

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Survey: Brighter US economic outlook boosts hiring

WASHINGTON — Companies are increasingly confident the economy will grow at a modest pace over the next year and are hiring more, according to a survey of business economists.

Nearly one-third of the economists surveyed by the National Association for Business Economics said their companies added jobs in the April-June quarter, according to a report released Monday. That's the highest percentage in nearly two years. And 39 percent expect their firms will hire more in the next six months. That's near the two-year high of 40 percent reached in the January-March quarter.

The hiring pickup occurred even though sales and profit growth slowed in the second quarter.

Optimism about future economic growth increased. Nearly three-quarters of the survey respondents forecast growth of 2.1 percent or more over the next 12 months. That's up from two-thirds in the first quarter survey, released in April, and the most in a year.

The quarterly survey's results echo much of the recent data tracking the economy. Growth has been slow in the past nine months, but employers have added jobs at a healthy pace. Many economists anticipate that the steady hiring will help accelerate growth in the second half of this year.

The NABE surveyed 65 of its member economists between June 18 and July 2. The economists work for companies from a variety of industries, including manufacturing, transportation and utilities, finance, retail and other services.

Among the findings:

— Only about 35 percent of the respondents said sales at their firms increased in the second quarter. That's sharply lower than the 55 percent who reported rising sales in the first quarter. And 15 percent said sales fell, up from 9 percent in the first quarter.

— Profit growth also slowed: Only 21 percent of respondents said profit margins increased last quarter, down from 29 percent in the first.

— Only 19 percent of economists said their firms were raising wages and salaries, down from 31 percent in April and the lowest proportion since October.

— A small but increasing minority of respondents say that government spending cuts and tax increases have hurt their businesses. Twenty-six percent of the economists said their firms were negatively impacted, up from only 16 percent in April. Still, 74 percent said the government policies had no impact on their businesses, though that's down from 79 percent three months earlier.

Looking ahead, companies are increasingly concerned about higher interest rates. That reflects the jump in rates that took place following Federal Reserve Chairman Ben Bernanke's comments in late May that the Fed could slow its bond-buying program later this year. Those purchases are intended to keep interest rates low.

The interest rate on the 10-year Treasury bond, a benchmark that influences mortgage rates and other borrowing costs, has increased nearly a full percentage point to about 2.5 percent since May.

When asked for their biggest concern over the next 12 months, 17 percent of the respondents cited rising interest rates. That is a big jump from April, when only 4 percent cited such concerns.

The biggest concern for most companies is the health of the global economy, which was cited by nearly one-third of the respondents. Europe's financial crisis has plunged that region into a recession, and growth in China, Brazil and other large emerging markets has also slowed. That's crimping U.S. exports.

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Pump prices jump 12 cents, AAA sees further rise

American motorists are bracing for further increases in gas pump prices this summer after average national prices rose 12 cents in the past week alone.

AAA says drivers are experiencing "sticker shock" as increased summer demand, unrest in Egypt and production disruptions in the U.S. and other countries push up the price of crude oil and gasoline.

The national average price for regular unleaded gasoline was $3.67 a gallon on Friday.

AAA says that's 23 cents more expensive than the same time last year but still below the all-time daily high of $4.11 a gallon on July 17, 2008.

The association says retail gas prices are likely to rise more in the coming weeks.

Unscheduled refinery shutdowns or hurricanes on the U.S. Gulf Coast could also add to price increases.

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Emerging economies give Philips a Q2 profit boost

AMSTERDAM — Royal Philips Electronics NV says its net profit in the second quarter soared to €317 million ($416 million) from €102 million in the same period last year partly thanks to stronger sales of consumer products like shavers in emerging economies.

Lower restructuring and acquisition costs also helped lift quarterly profits.

Sales for the quarter totaled €5.65 billion ($7.41 billion), up from €5.57 billion in the second quarter of 2012.

Philips CEO Frans van Houten said Monday Philips is "concerned about economic uncertainties around the world," but committed to achieving its full-year targets.

Sales of consumer lifestyle products such as electric razors and other domestic appliances rose 13 percent to €1.1 billion and lighting sales were up two percent to €2.05 billion.

Sales in emerging economies grew by 12 percent.

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Boston Entrepreneur Olympics goes for gold

Don't necessarily expect any new world records to be set at Boston's inaugural Entrepreneurs Olympics on Aug. 1. But do expect fun — and for a good cause.

There will be basketball, volleyball, a 5K race and high jump.

But for $20, you can also watch the less athletically inclined vie for first place at typing, tug-of-war, remote-control helicopter races, blind-folded baby-food tasting and bowling with human inflatable orbs.

"It's not about athletic ability," said Erica Rife, program director for the start-up accelerator MassChallenge, one of the event's partners. "It's about coming together as a team to do something for the greater good."

Sasha Hoffman, head of strategy and partnerships at the online payment company Plastiq, got the idea at a charity wine party last January.

"I thought there's really no event that brings together people's different talents," said Hoffman, who also is on the board of Build Boston, a nonprofit that uses entrepreneurship to propel disengaged, low-income students through high school to college. "I thought it would make sense to do a benefit for (Build)."

Plastiq teamed up with MassChallenge, TUGG, the New England Venture Capital Association and T3 Advisors to organize the event, setting $50,000 as their goal, said David Brown, executive director of TUGG, which raises funds for early-stage nonprofits.

By Friday, they had raised $43,000 and had signed up 300 participants, charging $40 for individuals, $500 for teams of 10 and $1,000 for teams of 20, Hoffman said.

But Build also hopes to recruit mentors at the event for the 200 young entrepreneurs it will have in September in Boston schools, said regional executive director Ayele Shakur.

The Entrepreneurs Olympics will be held from 5:30 to 8:30 p.m. at the Reggie Lewis Track and Athletic Center at 1350 Tremont St. in Roxbury Crossing.

But if you miss out, all is not lost.

"We're absolutely planning to have one next year," Hoffman said, "and to make it even bigger."

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Mastectomy aid eases recovery

Before she woke up in the hospital after her mastectomy 12 years ago, Cathy McGrath knew her breast would be gone. What she didn't plan for was multiple post-surgical drains — little plastic bulbs with a long tube — to collect fluid.

"I was really taken aback by it," the North Andover woman said. "I thought, how am I going to manage all of these?"

A nurse told her some women pin the drains to their clothes or go to Home Depot and get a tool belt to put them in.

So McGrath asked herself: What would Princess Di or Jackie O do?

"I thought there's no way they'd be going to Home Depot," she said. "They'd want something incognito, discreet, but with a lot of functionality to it, something that would make them look more like a person than a patient."

So McGrath designed the Jacki, a post-surgical jacket for breast cancer patients, and started A Little Easier Recovery, a nonprofit to give the garments away to patients.

On the outside, the Jacki looks like a classic suit jacket in black or plum. But on the inside, it has pockets all the way around the bottom.

The initial version was made of Polartec fleece. But when McGrath told her story to Polartec, the company gave her a deal on a soft, wicking material that is now used in many of the jackets. The rest are made of interlocking cotton.

In the beginning, her aunt sewed the garments, and McGrath gave them to Brigham and Women's Hospital and Tufts Medical Center. When the hospitals told her that patients loved them, she realized she was on to something and applied for nonprofit status, giving her organization a name that she thought was "humble" but fitting.

"There's absolutely nothing easy about cancer treatment," McGrath said. "The most I could give patients was a little easier recovery."

Since then, her nonprofit has given away more than 10,000 of the garments nationwide and been named a finalist in this year's MassChallenge startup accelerator and competition.

McGrath never meets the patients who wear her jackets, but she has received letters from them, like the woman who delivered her father's eulogy wearing the Jacki, or the one who wore it to her son's wedding, or the woman who was just content to wear it while she played Thomas the Train with her toddler.

"It gives patients some sense of dignity as they recover from a surgery that's affected their body image," said Cate Mullen, the nurse coordinator at Tufts Breast Center, which receives about 150 of the jackets each year. "There's a lot of pain, so it's a big relief that it's easier to get into and out of. It's a wonderful thing we can offer them."

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If you’re smelling burning oil, look out for a leak

I have a 2005 Mazda 6 with the 3-liter V6 engine and 70,000 miles. I do my own oil changes and for the past several changes have noticed a strong smell of burning oil when stopped at lights or in traffic, lasting three weeks after I have done the oil change. I am very careful not to spill any oil onto the exhaust when removing the filter, and to eliminate this possibility I left the filter in place after the last change. This failed to eliminate the problem. The engine burns no oil between changes and no smoke is visible from the exhaust. Any help would be greatly appreciated.

In most cases, smelling hot oil at idle indicates some type of external leak or spillage that drips onto the hot exhaust. In addition to the exhaust components near or under the oil filter, check to make sure no oil is dripping from the valve cover gaskets onto the exhaust manifolds, particularly from the front valve cover with the oil filler cap. Perhaps enough oil collects against the gasket when you refill the engine with fresh oil that it slowly migrates past the gasket and drips on the manifold.

The other system to focus on is the positive crankcase ventilation (PCV) system. Your engine features a PCV valve plumbed into the induction system downstream of the throttle plate, meaning engine vacuum pulls crankcase vapors into the combustion chambers where they are burned. If the PCV valve is stuck or clogged and doesn't open under engine vacuum, the crankcase may become somewhat pressurized and force oil and vapors past the piston rings and into the combustion chambers.

I have an '83 Jeep CJ-7 with the 258 six-cylinder engine. The oil pressure gauge was showing about 50 pounds per square inch when it suddenly went to zero. I connected a mechanical gauge to the engine block and it showed 60 psi. Is this an easy fix? How does the electrical gauge work?

Could you mount the mechanical gauge in or under the dash? If so, you've "fixed" your problem. I've always preferred mechanical gauges anyway for two reasons — they are instant and accurate, and not subject to electrical gremlins.

To determine whether the problem is the gauge or the electrical sending unit on the engine, disconnect the wire from the sending unit and connect a 12-volt test light from this wire to ground. Turn on the ignition. If the lamp flashes, the instrument voltage regulator is good. If the lamp stays lit, the regulator is bad. If the lamp doesn't light, check the regulator's connections and ground. And check for an open circuit in the connection from the regulator to the gauge.

And finally, if the lamp flashes as it should but the gauge isn't accurate, the gauge is the likely culprit.

My 2005 Grand Marquis is scaring me. I put on the brakes to stop but the car suddenly accelerated. I pushed on my brakes with all my might but the car kept going. I had to shift into neutral. By that time I was out in traffic against the light. This has happened three times. My shop could not find anything wrong. Please help!

I am so pleased to hear that you remember the simplest way to stop/prevent any type of unintended acceleration — shift into neutral! The other quick answer is to turn off the key.

What could have caused this? I can only speculate but I would suggest having the cruise control cable disconnected to eliminate this possibility. I would also inspect very carefully the power brake vacuum system, booster and check valve. A sudden, large vacuum leak could bleed off power assist to the brakes while at the same time possibly cause the engine idle speed to suddenly increase.

Did you feel any rapid pulsing in the brake pedal when this occurred, indicating ABS activation? Check for diagnostic trouble codes (DTCs) from the ABS system. Ford also suggests checking the ABS module connector for water intrusion.

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 paul brand@startribune.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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