Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

Monday, the Dow ended the day up 25.88 points, or 0.2%, to 16,504.29. The Standard & Poor’s 500 index fell less than a point to 1,841.07 and the technology-heavy NASDAQ composite fell 2.39 points, or 0.1%, to 4,154.20. Benchmark U.S. crude for February delivery ended the day down $1.03, closing at $99.29 a barrel on the New York Mercantile Exchange.

55 TAX BREAKS EXPIRE AT YEAR END

In an almost annual ritual, Congress is letting a package of 55 popular tax breaks expire at the end of the year, creating uncertainty — once again — for millions of individuals and businesses. Lawmakers let these tax breaks lapse almost every year, even though they save businesses and individuals billions of dollars. And almost every year, Congress eventually renews them, retroactively, so taxpayers can claim them by the time they file their tax returns. Not so far. Trade groups and tax experts complain that Congress is making it impossible for businesses and individuals to plan for the future. What if lawmakers don’t renew the tax break you depend on? Or what if they change it and you’re no longer eligible?

HOME ELECTRICITY USE FALLING TO 2001 LEVELS

The average amount of electricity consumed in U.S. homes has fallen to levels last seen more than a decade ago, back when the smartest device in people’s pockets was a Palm pilot and anyone talking about a tablet was probably an archaeologist or a preacher. Because of more energy-efficient housing, appliances and gadgets, power usage is on track to decline in 2013 for the third year in a row, to 10,819 kilowatt-hours per household, according to the Energy Information Administration. That’s the lowest level since 2001, when households averaged 10,535 kwh. And the drop has occurred even though our lives are more electrified.

MEDICAID GROWTH CREATES GAP OF 5 MILLION WITHOUT COVERAGE

About 5 million people will be without health care next year that they would have gotten simply if they lived somewhere else in America. They make up a coverage gap in President Barack Obama’s signature health care law created by the domino effects of last year’s Supreme Court ruling and states’ subsequent policy decisions. The court effectively left it up to states to decide whether to open Medicaid, the federal-state program for the poor and disabled, to more people, primarily poor working adults without children. Twenty-five states declined. That leaves 4.8 million people in those states without the health care coverage that their peers elsewhere are getting through the expansion of Medicaid, according to a Kaiser Family Foundation estimate. More than one-fifth of them live in Texas alone, Kaiser’s analysis found.

SIGNED CONTRACTS TO BUY US HOMES LEVEL OFF

The number of Americans who signed contracts to buy existing homes in November was essentially unchanged from October, suggesting sales are stabilizing after several months of declines. The National Association of Realtors said Monday that its seasonally adjusted pending home sales index ticked up to 101.7 from 101.5 in October. The October figure was revised lower from an initial reading of 102.1. Higher mortgage rates and strong price gains over the past two years have slowed sales. The pending home sales index had fallen for five straight months before November. And completed sales of existing homes fell for three straight months, the Realtors said earlier this month.

FEDS ANNOUNCE TEST SITES FOR DRONE AIRCRAFT

Six states were named by federal officials to develop test sites for drones — a critical next step for the burgeoning industry that could one day produce thousands of unmanned aircraft for use by businesses, farmers and researchers. Alaska, Nevada, New York, North Dakota, Texas and Virginia will host the research sites, providing diverse climates, geography and air traffic environments as the Federal Aviation Administration seeks to safely introduce commercial drones into U.S. airspace. An industry-commissioned study has predicted more than 70,000 jobs would develop in the first three years after Congress loosens drone restrictions on U.S. skies. The same study projects an average salary range for a drone pilot between $85,000 and $115,000.

RUSSIA BOMBINGS KILL 31, RAISE CONCERN ON OLYMPICS

Two suicide bombings in as many days have killed 31 people and raised concerns that Islamic militants have begun a terrorist campaign in Russia that could stretch into the Sochi Olympics in February. Russian and international Olympic officials insisted the site of the games, protected by layers of security, is completely safe. The attacks in Volgograd, about 400 miles (650 kilometres) from Sochi, reflected the Kremlin’s inability to uproot Islamist insurgents in the Caucasus who have vowed to derail the games, the pet project of President Vladimir Putin.

SALES OF FORD VEHICLES TO TOP 2.4 MILLION IN 2013

Ford says 2013 North American sales of cars and trucks bearing its namesake brand will top 2.4 million, making Ford again the top-selling U.S. brand over Toyota. The automaker says it will sell more than 600,000 passenger cars this year, the most since 2000, with the strongest demand coming from the West and Southeast. Ford says it has seen double-digit sales growth across all segments — cars, trucks and utility vehicles. Growth has been led by demand for the Ford Fiesta small car, Ford Fusion midsize sedan, C-Max hybrid and the Ford Escape SUV.

COOPER TIRE ENDS BUYOUT AGREEMENT WITH APOLLO

Cooper Tire & Rubber Co. is calling off its sale to India’s Apollo Tyres, unraveling a $2.2 billion deal announced just over six months ago. Cooper said financing is no longer available and it continues to claim, as it has for months, that Apollo breached the terms of the agreement. Apollo said after the announcement Monday, which it called disappointing, that it may pursue legal remedies.

Tucson CREW is the industry’s premier business networking organization dedicated to advancing the success of women in commercial real estate. Founded in 2002, Tucson’s 80 members connect to over 9,000 members nationally, representing nearly every discipline within the industry. CREW Network focuses on fulfilling four key initiatives for its members: business development, leadership development, industry research and career outreach.

Tucson CREW Board Officers & Board of Directors for 2014:

President: Jeannie Nguyen, National Bank of Arizona;  President-Elect: Sally Bach, G2 Contracting;  Past President: Barbi Reuter, C&W | PICOR Commercial Real Estate; Treasurer: Loretta Peto, Peto & Company;  Secretary: Cindy Dhuey, The Temp Connection;  Board Members: Beverly Weissenborn, Burke Weissenborn LLC; Nannon Roosa, Eller School of Management, University of Arizona; Debbie Heslop, Volk Company; Chris Young, Kuhn Young Law Firm; Sandra Barton, Alliance Bank of Arizona; Vivian Boggie, Title Security;  Gabriel Gomez, Business Development Finance Corporation; Jane McCollum, Marshall Foundation; and Linda McNulty, Lewis & Roca.

Tucson CREW 2013 Awards included:

Amber Smith, Metropolitan Pima Alliance: Economic Improvement Award; Nannon Roosa, Eller College of Management: Career Advancement for Women Award;  Tricia Hooper, First American Title: Member-to-Member Business Award;  Jan Cervelli, University of Arizona: Entrepreneurial Spirit Award; and Jeannie Nguyen, National Bank of Arizona: President’s Award.

For more information on Tucson CREW, visit https://tucsoncrew.org

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

Friday, the Dow Jones industrial average closed down 1.47 points, or 0.01%, to 16,478.41. The Standard & Poor’s 500 index fell 0.62 point, or 0.03%, to 1,841.40 and the NASDAQ composite was down 10.59 points, or 0.3%, at 4,156.59. Benchmark U.S. oil for February delivery rose 77 cents to close at $100.32 a barrel on the New York Mercantile Exchange.

1.3 MILLION PEOPLE FELL OFF UNEMPLOYMENT ROLLS SATURDAY AT MIDNIGHT

WASHINGTON (AP) — More than 1 million Americans are bracing for a harrowing, post-Christmas jolt as extended federal unemployment benefits came to a sudden halt this weekend, with potentially significant implications for the recovering U.S. economy. A tense political battle likely looms when Congress reconvenes in the new, midterm election year. Nudging Congress along, a vacationing President Barack Obama called two senators proposing an extension to offer his support. From Hawaii, Obama pledged Friday to push Congress to move quickly next year to address the “urgent economic priority,” the White House said. For families dependent on cash assistance, the end of the federal government’s “emergency unemployment compensation” will mean some difficult belt-tightening as enrollees lose their average monthly stipend of $1,166. Republicans have asked Democrats for cuts elsewhere in the budget to pay for more extensions.

UK WON’T CHALLENGE EU ENVIRONMENTAL REGULATIONS ON COAL POWER PLANTS 

Times London – The United Kingdom will not challenge the European Union’s environmental rules which have led to closure of many old coal power plants even as the country faces threats of power black outs within the next two years, The Times of London reported on Monday. “We are not planning to break the rules on that,” Britain’s Energy Minister Michael Fallon was quoted as saying by the newspaper. Britain’s coal-fired generators, once the backbone of British energy industry, pumped out 91.86 terra watt-hours (TWh) of power in the first nine months of 2013 down three percent from the year before, according to provisional data published in a report by the UK Department of Energy and Climate Change. “We see coal shrinking very rapidly from now on, probably contributing nothing by 2030. Coal is going to disappear off the system,” Fallon told the British paper.

HOLLYWOOD STRUGGLES AGAINST NEW FILM MECCAS

LOS ANGELES (AP) — In the old days, filmmakers flocked to Hollywood for its abundant sunshine, beautiful people and sandy beaches. But today a new filmmaking diaspora is spreading across the globe to places like Vancouver, London and Wellington, New Zealand. Fueled by politicians doling out generous tax breaks, filmmaking talent is migrating to where the money is. The result is an incentives arms race that pits California against governments around the world and allows powerful studios —with hundreds of millions of dollars at their disposal— to cherry-pick the best deals. The most recent iteration of the phenomenon came earlier this month when James Cameron announced plans to shoot and produce the next three “Avatar” sequels largely in New Zealand. What Cameron gets out of the deal is a 25 per cent rebate on production costs, as long as his company spends at least $413 million on the three films.

TARGET CUSTOMERS’ ENCRYPTED PINS WERE STOLEN

ATLANTA (AP) — Target said Friday that debit-card PINs were among the financial information stolen from millions of customers who shopped at the retailer earlier this month. The company said the stolen personal identification numbers, which customers type into keypads to make secure transactions, were encrypted and that this strongly reduces risk to customers. In addition to the encrypted PINs, customer names, credit and debit card numbers, card expiration dates and the embedded code on the magnetic strip on back of the cards were stolen from about 40 million credit and debit cards used at Target stores between Nov. 27 and Dec. 15. Security experts say it’s the second-largest theft of card accounts in U.S. history, surpassed only by a scam that began in 2005 involving retailer TJX Cos. Gartner security analyst Avivah Litan said Friday that the PINs for the affected cards are vulnerable and people should change their codes since such data has been decrypted, or unlocked, before.

CEO OF HYUNDAI’S NORTH AMERICAN OPERATIONS

John Krafcik, the president and CEO of Hyundai Motor America, is stepping down next week after five years at the helm, the company announced Friday. He will be replaced by David Zuchowski, the current executive vice-president of sales who joined the company in February 2007. When Krafcik became CEO of American operations in 2008, the South Korean automaker’s cars were ugly and often broke down. During his tenure, he pushed through quality, style and fuel efficiency improvements to help drive up sales. Hyundai Sonata midsize cars and Elantra compacts became top sellers and multiple models garnered the Insurance Institute for Highway Safety’s Top Safety Pick designation. Hyundai had already started to change before Krafcik arrived, offering a 10-year, 100,000 mile warranty with its cars. But the transformation from joke to juggernaut accelerated under his watch. Krafcik didn’t just focus on the engine but how people used their cars as personal living spaces.

GM TO RECALL 1.5 MILLION CARS IN CHINA TO REPLACE BRACKET

BEIJING (AP) — General Motors Co. and its main Chinese partner will recall almost 1.5 million cars to replace a bracket that secures a fuel pump, China’s product quality agency said Friday. The agency said the recall affects 1.2 million Buick Excelles made from 2006 through part of 2012 and 250,000 Chevrolet Sails produced between April 2009 and October 2011 and some made last year. The bracket to be replaced might crack and in extreme cases cause a fuel leak, the Administration for Quality Supervision, Inspection and Quarantine said in a statement. The recall is GM’s second this year in China. In May, the government announced a recall of 2,653 imported Cadillac SRX sport utility vehicles to adjust nuts on wheels that said might loosen due to torque.

HOLLYWOOD POISED FOR BEST-EVER BOX-OFFICE YEAR

LOS ANGELES (AP) — Despite a string of summertime flops, Hollywood is expected to have a banner year at the domestic box office, coming in just shy of $11 billion, the largest annual take ever. But because of higher ticket prices, actual attendance at North American theaters remained flat after a decade of decline. With the current domestic box-office tally nearly 1 per cent ahead of last year at this time, 2013 could surpass 2012′s overall haul of $10.8 billion by more than $100 million, according to box-office tracker Rentrak.

TOP 10 FILMS AT BOX-OFFICE

Los Angeles/New York Dec 29 (Reuters) – Following are the top 10 movies at North American box offices for the weekend of Dec. 27-29, led by “The Hobbit: The Desolation of Smaug,” according to studio estimates compiled by Reuters.

1  (1) The Hobbit: The Desolation of Smaug…..$ 29.9 million

2  (3) Frozen…………………………… …………….$ 28.8 million

3  (2) Anchorman 2: The Legend Continues ……$ 20.2 million

4  (4) American Hustle………………………………….$ 19.6 million

5  (*) The Wolf of Wall Street……………………….$ 18.5 million

6  (5) Saving Mr. Banks………………………………..$ 14.0 million

7  (*) The Secret Life of Walter Mitty…………….$ 13.0 million

8  (6) The Hunger Games: Catching Fire…………$ 10.2 million

9  (*) 47 Ronin…………………………………………….$  9.9 million

10 (7) Tyler Perry’s A Madea Christmas…………$  7.4 million

Last weekend’s rank in parentheses (*) = new release