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Author: Jessica Wong

  • ‘Hey, you guys!’ Iconic movie homes like The Goonies house are getting treasure-worthy makeovers — and real estate investors are turning cult-favorite sets into bucket-list stays

    ‘Hey, you guys!’ Iconic movie homes like The Goonies house are getting treasure-worthy makeovers — and real estate investors are turning cult-favorite sets into bucket-list stays

    The iconic Astoria house from The Goonies that sparked countless childhood adventures is getting a treasure-worthy makeover — nearly 40 years after the film first hit theaters, it’s being restored to its full 1985 glory.

    “The whole house top-to-bottom, back to the way it was in the movie,” James Pearse Connelly, the Emmy-winning designer leading the restoration, told FOX 12 Oregon.

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    When the current homeowner approached Connelly in 2023 about restoring the property in Astoria, Connelly jumped at the opportunity.

    “The moment you hear, ‘Hey, I own the Goonies house, I’m trying to restore it back to the way it was in the movie,’ it was like a no-brainer,” Connelly said.

    Goonies never say die!

    With Steven Spielberg’s legacy looming over the project, the pressure is on. Connelly has been obsessively studying the cult classic, breaking it down scene by scene and drafting blueprints for every inch of the 1896 home.

    The project is both a passion and an architectural challenge. Connelly must bring the house up to 2025 code without disrupting the beloved chaos of the Walsh family’s hideout in the Goondocks.

    While the interior remains off-limits, the exterior is already getting a facelift with fresh paint and restored wood. After all, this is the home base for the search for One-Eyed Willy’s treasure.

    “It’s a group of friends that all gather in the central living room,” Connelly explained to Fox 12 Oregon. “And you get introduced to them in this house that is so relatable.”

    He’s been diving deep into the film’s production history, even reaching out to the original designers — including J. Michael Riva, Linda DeScenna and Rick Carter — to ensure every detail is just right.

    “I am calling the people who made the movie. I am asking them where they shopped, why they made those decisions,” he said. “There are some super duper fans of this project. Not only that, but Steven Spielberg made this movie. Whenever we show the final inside, to whoever sees this … It’s got to be right.”

    Goonies devotees from as far as the U.K. and Brazil have sent in ideas and replica props, but Connelly is trying to keep it local when possible, sourcing period-appropriate details locally, including finds from Astoria Vintage Hardware.

    And what would a Goonies house be without some nautical flair?

    “So … everywhere in the house is like, nautical stuff. Everywhere,” Connelly said. “Of course, we live in Astoria. But now we have other areas of the house to detail out that’s not in the movie.”

    With the 40th anniversary of The Goonies approaching on June 7, Connelly and his team are racing against the clock to finish the project.

    “Astoria is a huge character in the movie,” he tells FOX 12 Oregon, standing in front of the iconic home. “They made this space for the Walshes. They told this story about Astoria. And as you dig into the details, it’s not just about Astoria, it’s about being a Goonie and what being a Goonie means.”

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    You guys give up? Or are you thirsty for more?

    From Cleveland to Winnetka, Illinois famous movie homes are being restored, renovated and re-listed — proving that nostalgia is good business. The Goonies house is part of a growing trend where iconic movie and TV homes are being revived and monetized, blending nostalgia with real estate savvy.

    Kevin’s booby-trapped playground from Home Alone hit the market in May 2024, fully renovated and asking a cool $5.25 million.

    The owners, who bought the Georgian-style home in 2012 for $1.585 million, gave it a modern luxury facelift — high-end kitchen, home theater and indoor sports court — while keeping the iconic staircase for dramatic Macaulay Culkin entrances.

    The house eventually sold for $5.5 million — $250,000 over asking price. While the large size and luxury amenities helped, the nostalgic value was a key driver of the sale.

    The home featured in A Christmas Story has been turned into a full-fledged museum. Bought on eBay in 2004 for $150,000, Ralphie’s Ohio house was restored to match the movie — right down to the leg lamp in the front window. (It’s a major award!)

    After a $240,000 renovation, it’s now open for tours and even overnight stays. This means that yes, you can sleep where Ralphie dreamed of his Red Ryder BB gun.

    Airbnb has also turned the famously spooky Beetlejuice house into an immersive stay. The experience was full-on with fog machines, creepy decor, and even the Winter River model in the attic.

    It’s showtime!

    Airbnb’s trend of creating pop culture-themed stays shows how fandom can drive profits, with Airbnb guests willing to pay a premium for the chance to stay in a famous place.

    Iconic homes tied to movies and TV shows often come with what’s called a “celebrity premium,” meaning they can command prices well above market expectations. For homes like the one featured in Home Alone, this nostalgia factor translates into higher sales prices or rental rates, especially in markets where real estate is a luxury game.

    Turning these homes into branded destinations is another way to generate income. Properties like the Beetlejuice house and A Christmas Story house have found new life as tourist attractions, showing how movie homes can be money-making enterprises beyond just real estate without shooting one’s eye out.

    Investing in these cult-favorite houses isn’t just for diehard fans — it can also be a savvy business move. Whether buying, renting or creating a unique experience, these homes show that nostalgia can be transformed into real financial returns.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Florida fruit and vegetable vendors say they’re feeling the squeeze from Trump tariff pressures — and they’re warning your produce may only get pricier as the president pushes on

    Florida fruit and vegetable vendors say they’re feeling the squeeze from Trump tariff pressures — and they’re warning your produce may only get pricier as the president pushes on

    If you’ve noticed your grocery bill creeping up, especially in the produce aisle, you’re not alone.

    Local produce vendors say prices on fruit and vegetable imports are spiking fast, and it’s all thanks to tariffs pushed by the Trump administration.

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    Luis Saldana imports fruits and vegetables from Mexico and sells them at the farmers market in Jacksonville, Florida. He told News 4Jax the difference is already hitting his bottom line and his customers’ wallets.

    “We used to buy a mango for maybe a dollar,” Saldana said. “Right now it has to be $1.75 a piece because it is a good mango.”

    According to Saldana, the tariffs — up to 25% on goods from Mexico — are forcing wholesalers to buy less. Where they used to be able to purchase 10 boxes of produce, they can only afford five boxes for the same price.

    Vendors dealing with rising costs, shrinking profit margins

    News 4 Jax checked several major grocery stores and couldn’t find a single mango still selling at last year’s price.

    The price squeeze is being felt across the board, especially for popular Mexican imports like tomatoes, avocados, and peppers. Tomatoes face a 17.09% tariff — to take effect July 14.

    “Everything that comes from Mexico,” Saldana said, “I have to increase the price for the customer.”

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    The administration says the tariffs will stay in place until illegal crossings and drug trafficking from Mexico are “fully stopped.”

    For vendors like Saldana that means navigating rising costs and shrinking profit margins. It’s a squeeze that small and mid-sized businesses, already operating on thin margins, aren’t built to absorb.

    There’s a glimmer of hope on the local level.

    Mitch James, Assistant General Manager at Jacksonville’s Farmers Market, says local farms are helping shield consumers from the full brunt of inflation.

    “We’ve got about five or six (growers) that come from west of Jacksonville, predominantly going out towards Live Oak, that bring in cabbage, greens, broccoli, peppers — all the above,” James said.

    “That’s the good thing that keeps the fuel cost down, which keeps the wholesale and retail price down.”

    That’s welcome news for families stretching every dollar to put food on the table. But with the growing season ahead and tariffs showing no signs of easing, one thing is clear: Your produce may keep getting pricier before things get better.

    Raise prices or take the hit?

    Vendors operating on razor-thin margins are now faced with a tough choice.

    Do they hike prices and risk driving away budget-conscious customers? Or absorb the costs and watch their profits disappear?

    For small business owners like Luis Saldana, that’s a lose-lose scenario. Analysts warn the tariffs could fuel inflation and limit variety in stores, making fresh produce even less accessible. And it’s not just the produce aisles feeling the pressure.

    Smaller vendors, especially in Florida, could be pushed to the brink.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Residents in this US state now spend 10% of their income on groceries — the highest rate in America. Here’s how struggling families are making ends meet

    Residents in this US state now spend 10% of their income on groceries — the highest rate in America. Here’s how struggling families are making ends meet

    If your grocery bill feels like it’s been getting out of hand lately, you’re certainly not alone — especially if you live in Nevada.

    A recent LendingTree analysis of USDA and U.S. Census data shows that Nevada households now spend an average of $10,390 annually on groceries. That’s more than $2,000 more than the national average of $8,167, and food inflation isn’t helping.

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    Nevada spends the fourth-highest amount on groceries, behind only Utah, Alaska and Hawaii.

    Nevada and Utah also spend the second highest share of household income on groceries (10.1%), behind only Idaho (10.4%).

    Kitchen staples like mini sweet peppers have sky-rocketed in price by as much as 99% in some instances, while the price of avocados rose by up to 75%, forcing families to rethink their entire approach to grocery shopping.

    Here’s how Nevada families are adapting.

    Shoppers feeling the sting of higher prices

    According to the analysis, grocery bills are a whopping 27% higher in Nevada than the national average, so shoppers are second-guessing what they pick up at the store.

    "There’s a lot of stuff that I don’t buy anymore because I won’t pay for it. Like chips, I don’t buy chips anymore," Anna Marie Hyatt, a Las Vegas resident told KTNV ABC 13 News. "I am not going to spend 6 bucks on a bag of chips. "

    While shopping at her local Smith’s near Desert Inn and Decatur, Hyatt told ABC 13 News that she and her husband hit the grocery store weekly, but lately, each trip feels more painful. Like many Nevadans, she’s watching prices climb higher with every checkout total.

    "Up, up, up, it’s about all I could say, it’s up," said Hyatt. "Whoever has the cheapest price, that’s where I am going to buy it," she said.

    According to LendingTree’s analysis, organic groceries continue to carry a hefty premium, with half of them costing shoppers more than 50% more on average compared to their conventional counterparts.

    In some cases, such as with iceberg lettuce and Brussels sprouts, shoppers are paying more than double the average price.

    Roughly one in four organic items reviewed in the study cost at least 75% more. But the overall price increases of organic versus conventional groceries were similar year over year, at 2.4% and 2.5%, respectively.

    When you consider that American households are spending an average of 7.4% of their household income on groceries, according to LendingTree, every dollar counts.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Nevadans tighten grocery budgets, but at what cost?

    With high food prices, families are stretching every dollar they can.

    To cut costs, many households are buying in bulk, trading brand names for generics and planning meals with military-like precision.

    Store apps and loyalty programs are also getting a workout as shoppers hunt for deals. And with more of the paycheck going to groceries, non-essentials like dining out, streaming subscriptions and even weekend getaways are on the chopping block.

    But for some, trimming the budget isn’t enough. Some short-term survival tactics may be keeping fridges full, but they’re also setting the stage for serious financial consequences down the line.

    According to a study by Urban Institute, about six in 10 adult shoppers are swiping credit cards at the grocery store just to get through the week — and 20% aren’t paying off the full balance.

    That temporary relief can come at a steep price if balances begin to snowball. The average credit card APR is now hovering around 21.37%, making any unpaid groceries a costly burden in the months to come.

    Emergency funds are also being drained. What used to be a safety net for surprise car repairs or medical bills is now being used for milk, eggs and gas. Once that cushion is gone, families are just one unexpected expense away from what could be a major financial blow.

    The squeeze could be forcing some folks to hit pause on major life goals. Homeownership, for instance, is getting further out of reach, as more than eight in 10 Nevada households wouldn’t be able to afford the median home price in the current market, according to Nevada Housing Now.

    However, emergency rental aid is available through local and state initiatives and nonprofits like Three Square and Catholic Charities of Southern Nevada are expanding food assistance programs in the state. The nations SNAP program could also help more Americans put food on the table if policymakers broaden eligibility for benefits.

    The challenge for Nevadans, and other shoppers struggling with grocery prices, is to survive today’s high prices without sacrificing tomorrow’s financial health.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Angry pavers intentionally pushed asphalt up against doors of this Oklahoma gas station — trapping terrified owner inside. But she says she agreed to nothing. How to prevent a similar ordeal

    Angry pavers intentionally pushed asphalt up against doors of this Oklahoma gas station — trapping terrified owner inside. But she says she agreed to nothing. How to prevent a similar ordeal

    An unexpected sales pitch paved the way to a terrifying ordeal for one gas station owner.

    According to Lisa Hoang of Moore, Oklahoma, she allegedly fell victim to an attempted extortion by a rogue paving crew. The confrontation happened when workers from Done Right Paving, based in Kalispell, Montana, allegedly dumped their extra asphalt across the OK Stop parking lot.

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    No formal contract between Done Right and OK Stop was drafted, so the work wasn’t approved, Hoang told News 4 KFOR.

    “We need to know in advance how much [the cost] is, and he says [s] he just [has] a little left over asphalt and it wouldn’t cost much to us,” Hoang explained.

    Hoang and her family refused to pay the $12,000 bill. As a result, the Done Right Paving crew scraped up the asphalt and piled it against the OK Stop entrance, trapping the family inside.

    The scam is not uncommon in Oklahoma, and typically happens when northern paving companies travel south for work. But here’s how to avoid being caught in a similar sticky situation.

    ‘We were so scared’

    Unfortunately, similar asphalt scams have been reported across Oklahoma in recent years.

    Larry Patrick, Executive Director of the Oklahoma Asphalt Paving Association, which represents 95% of the legitimate paving companies in the state, says it happens every few years. “These individuals will come in, go to an asphalt plant, and they’ll buy a dump truck load of asphalt and they’ll pay cash,” Patrick said. “Then they just go out roaming around trying to find an individual or somebody.”

    The perpetrators are often out-of-state companies, many from northern states where paving work is limited by colder weather during spring.

    What seemed like a casual offer for the Hoangs quickly escalated into a high-pressure situation, as the workers began laying asphalt before any price or contract was discussed.

    “When he realized we won’t pay, he rushed out the door, used the equipment to scrape the whole parking lot back and forth, a big chunk,” she said. “They pushed it up against the front door, trapping our family inside the business.”

    “It happened so fast, we couldn’t do anything,” Hoang added. “We were so scared.”

    News 4 made multiple attempts to contact Done Right Paving for comment, to little avail.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    What to do if you’re targeted by a fraudulent contractor

    Consumer protection experts urge residents to know their rights and take action when facing fraudulent or threatening service providers. Incidents like the one that Hoang experienced are scary, and they may also violate federal and state consumer protection laws.

    The Oklahoma Attorney General has a Consumer Protection Unit that investigates cases involving unauthorized services, deceptive business practices and aggressive or threatening behavior by contractors.

    To protect yourself, here’s what you need to do if you find yourself in a similar situation:

    • Document everything: Take photos and video of the damage, the workers, their vehicles and any obstructions or results of threatening behavior. Save all communication, including texts, voicemails, emails, invoices or handwritten notes from the business.
    • Refuse unsolicited work: Refusing any work would be legally supported in many cases. The Federal Trade Commission (FTC) makes it clear under its Unordered Merchandise Rule that consumers are not required to pay for unwanted goods or services.
    • Call the police: If you’re being harassed for payment after any unauthorized work, contact your local police department and file a report.

    In Oklahoma, victims can file a complaint directly with the Consumer Protection Unit. Nationally, consumers can report scams to the Federal Trade Commission (FTC), or through the Better Business Bureau’s Scam Tracker tool. The National Association of Attorneys General also provides an online resource to find and contact your state’s consumer protection office.

    How can you avoid these scams in the first place?

    Common warning signs include unsolicited visits, unwillingness to provide a written estimate, out-of-state license plates, cash-only demands and intimidation tactics.

    Experts recommend that consumers never allow work to begin without a written contract. The agreement should include the business name, physical address, the contractor’s license number (if applicable), an itemized invoice and payment terms. It’s also advised that you check the company’s track record through the Better Business Bureau or a state contractor licensing board.

    Lisa Hoang’s story is not unique, but through sharing her experience, she hopes others will be able to protect themselves. Being proactive and informed is your best defense against fraud. Additionally, knowing your rights, acting quickly and reporting suspicious activity can help stop scammers before they do serious harm.

    For the Hoangs, they’re looking into their legal options against Done Right Paving of Montana.

    “We will press charges and hopefully the police can get those guys arrested,” Hoang said.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘It was horrible’: Illinois man files $50K lawsuit against major retailer after ‘white-glove’ delivery escalates into 911 call — says he can’t believe he ‘was treated that way’ over furniture

    ‘It was horrible’: Illinois man files $50K lawsuit against major retailer after ‘white-glove’ delivery escalates into 911 call — says he can’t believe he ‘was treated that way’ over furniture

    Imagine spending nearly $18,000 on brand-new furniture, only to end up face down on the street, confronted by cops with guns drawn.

    That’s exactly what happened to Noah Jacob, a Naperville, Illinois, father who says a home delivery from Ashley Homestore turned into a nightmare.

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    “The kids are freaking out. They got scared. My wife got scared,” Jacob recalled to CBS News Chicago in a story published May 9.

    “I have never been embarrassed in my life that much,” he said. “It was horrible. Like, I can’t believe that I was treated that way. For furniture.”

    It turns out the delivery dispute was only the beginning of a nearly year-long saga that has culminated into a $50,000 lawsuit.

    ‘This is not what I paid for’

    The story begins in June 2024, when a crew from Urlo Delivery Service, on behalf of Ashley Homestore, arrived at Jacob’s new home with thousands of dollars in furnishings, including sofas, beds and dressers. According to the local broadcaster, Jacob was promised a “white-glove premium home delivery” service.

    Instead, the homeowner says the crew’s work resulted in dings, scratches and a cracked wall. It was enough to make him snap and kick the workers out of his home.

    “Enough is enough. I don’t want this. This is not what I paid for,” Jacob said.

    That’s when things escalated dramatically.

    The delivery crew called 911, according to CBS News Chicago, the driver claiming Jacob had a gun and threatened to kill them if they didn’t leave his property. Police body cam footage shows officers brandishing firearms confront Jacob on the sidewalk, ordering him to raise his hands, kneel and lie face down.

    Jacob denies pulling a gun on the delivery crew. CBS News Chicago says it spoke with the owner of Urlo Delivery Service, who insisted her employees were telling the truth. The crew described the gun as a black pistol. According to the broadcaster, the police report notes Jacob does own a black pistol but he says it was kept locked during the delivery. An electrician working inside the home at the time claims he didn’t see a gun or hear any threats. Police ultimately didn’t file charges.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    After the dust settled, Jacob was left with only a partial delivery of the items he purchased. So, his lawyer sent a demand letter to Ashley Homestore in August 2024.

    “Initially when we got involved, we actually thought it would be quite simple,” Jacob’s attorney Aaron Rapier told CBS News Chicago.

    But after “getting the runaround” from the company, the legal battle escalated to a lawsuit being filed in early May against the furniture giant, and other companies, seeking at least $50,000 in damages.

    “You can pay $18,000 for this furniture, but we’re not going to deliver it all, we’re going to damage your property, and we’re going to file a false police report. Do you think any consumer in the world would do that deal?” Rapier said.

    CBS News Chicago says a statement from Ashley Homestore said the company’s involvement was “limited to selling furniture.” There was no mention of Urlo Delivery Service, however, the broadcaster says it was directed to a different third-party delivery service that didn’t answer journalists’ questions.

    The broadcaster reports Ashley Homestore said it’s working on a resolution with Jacob, while Urlo Delivery Service denied any wrongdoing — even regarding the alleged damage to the home.

    Why mishandled disputes can cost you big

    When a consumer dispute spirals out of control, like Jacob’s situation, the hidden costs can hit harder than a shattered coffee table. Here’s what every shopper in America needs to know.

    You might end up with unwanted or damaged goods. But the fallout can be much more than that:

    • If a retailer reports the dispute as nonpayment, it could hurt your credit score, making future loans or credit cards more expensive.
    • If the issue escalates to court, you could be looking at thousands in legal fees, even if you’re in the right.
    • Phone calls, follow-ups and waiting on hold to deal with the situation can be a time killer that can burn hours you’ll never get back.
    • The stress of fighting a corporate giant can weigh heavily on your mental health and cause emotional distress.

    If you’re spending thousands on big-ticket items like furniture, appliances and electronics, don’t just swipe and hope. Here’s how to shop smart:

    • Make sure to document everything. Take photos. Save emails. Keep receipts.
    • Before you buy, read up on return/refund policies, warranty limits and delivery terms, especially when third-party vendors are involved.
    • Keep your cool. Getting emotional or aggressive in disputes can backfire fast, especially when police get involved.
    • Visit ConsumerFinance.gov (CFPB) or FTC.gov for guidance on how to report fraud, dispute charges, and escalate complaints the right way.

    Nearly a year later, Jacob says his ordeal wasn’t over. His bedroom set? Still missing crucial parts. The rest of the furniture? Some damaged, some undelivered.

    “There’s no hope. There’s no solution. They wouldn’t give me the furniture. They wouldn’t take the furniture,” he said.

    Jacob says he went public not for attention, but accountability.

    “I don’t want anybody to go through what I had to go through, honestly,” he said.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • LA police seize nearly $4 million of stolen goods in massive bust of South American crime syndicate — why crimes like this end up hurting you at the checkout counter

    Authorities in Los Angeles recently uncovered a massive stolen-goods operation, recovering nearly $4 million in merchandise that was allegedly swiped by an organized theft crew.

    According to KTLA 5 Morning News, an “extensive investigation” into two members of a South American crime ring steered detectives toward several storage unit facilities in San Fernando Valley.

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    After serving these storage facilities with search warrants, detectives uncovered millions of dollars in stolen goods — including tequila, coffee, shoes and clothing, as well as bitcoin mining computers that are collectively worth roughly $2.7 million.

    The operation was led by the LAPD’s Commercial Crimes Division, Cargo Theft Unit with support from the L.A. World Airport Police, Union Pacific Police Department and the L.A. Port Police.

    “This case highlights the ongoing collaborative efforts among law enforcement agencies to combat cargo theft and protect the integrity of commercial transport operations,” officials stated in a press release published by KTLA 5 Morning News. “The investigation remains ongoing, and additional arrests may follow.”

    Cargo theft in the Los Angeles area

    The two alleged ringleaders of the South American organized theft operation — Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25 — were reportedly arrested following the served search warrants.

    Martinez-Ramos was taken into custody on a no-bail warrant and remains behind bars, while Borrero-Manchola was charged with receiving stolen property but was released, according to police.

    This substantial bust reportedly comes on the heels of several other recent cargo thefts in the area. R & R Transport Services, a trucking company based in California, reportedly had trailers stolen from its lot three times in the month of April. The company was able to track down the stolen trailers and an arrest was made in one of the cases.

    Earlier this year, authorities recovered about $600,000 worth of container chassis that was stolen from the Port of Los Angeles. And while one man was arrested in connection to the theft, the investigation reportedly remains ongoing.

    And in 2023, the California Highway Patrol announced arrests of 40 suspects connected to a statewide cargo theft ring. The crew was reportedly responsible for stealing more than $150 million in goods, including $50 million in merchandise, 13 gold bars and $550,000 in cash, as well as 20 stolen cargo trailers and several firearms.

    Cargo theft cases in the U.S. skyrocketed to nearly $455 million in losses in 2024, a whopping 27% increase from the previous year.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    How cargo theft affects consumers

    Unfortunately, the ripple effects of organized retail and cargo theft often land squarely on the shoulders of consumers. As cargo theft removes millions of products from the supply chain, retailers are increasingly passing those losses along in the form of higher prices on everyday items.

    One of the factors that leads to this is increased insurance premiums. When retail companies are hit with cargo theft, insurance companies often increase the premiums for transporting and storing goods. In order to maintain profitability, said retail companies will then factor the added cost of insurance into their prices.

    Cargo theft also has the ability to disrupt the flow of goods, which can lead to delays and shortages of the products that were stolen. And, unfortunately, higher prices often follow as the lack of supply forces consumers to scramble for alternatives.

    The cost of recovery is also a factor that encourages retailers to pass their losses on to consumers. Cargo theft forces retailers to take on the financial burden of replacing the stolen items, which in turn increases their expenses.

    Stolen cargo also encourages retailers to boost their security measures, which adds to a retailer’s operational costs and forces them to look to consumers to make up for this expense.

    But beyond the checkout line, cargo theft can also threaten local jobs. Retailers hit hardest by repeated losses may be forced to cut employee hours, downsize staff or shutter locations entirely.

    There’s also the growing danger of fraud. Many of the stolen goods end up on unregulated resale websites, exposing consumers to fraudulent transactions, defective products or even counterfeit merchandise.

    According to the National Retail Federation, retail theft cost U.S. retailers about $112 billion in 2022. And as we just laid out, more crime at the warehouse level can eventually mean more pain at the checkout line for shoppers.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘They need to be held accountable’: Massachusetts electric customers reeling after being served thousands of dollars in delayed charges thanks to providers’ ‘poor’ billing practices

    ‘They need to be held accountable’: Massachusetts electric customers reeling after being served thousands of dollars in delayed charges thanks to providers’ ‘poor’ billing practices

    Teresa Lawrence-Coston got a shock recently when she opened her mailbox and found a stack of envelopes from her electric company. Each one had a bill with the same date of issue — March 17 — but included charges across 10 months of service totaling $3,327.52, according to WCVB NewsCenter 5.

    “I’m like, ‘This can’t be real,’” she recalled to the local broadcaster in a story published April 24. “I didn’t receive any cutoff notices. No late status. Nothing. Just one day, out of the blue, 10 statements.”

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    Other utility customers in Massachusetts shared stories with NewsCenter 5 about being slammed with massive, surprise bills, totaling thousands of dollars, after not being charged regularly for months. The complaints centered around two companies: Eversource and National Grid.

    “How do [they] reconcile their accounts?” Lawrence-Coston asked. “What are [they] doing over there that they didn’t realize they weren’t invoicing me?”

    ‘I gave up trying’

    Brian Pratt, a National Grid customer, says he went nearly a year without an electric bill in 2022 and 2023. Suddenly, he received two bills dated April 12 and April 13, 2023, followed by a much larger bill three weeks later totaling $1,092.47.

    “I had reached out to them via email, via phone, and I got the same runaround, ‘Oh, we’re working on it.’ And I gave up trying,” he told NewsCenter 5. “We want to pay our bills on time. We don’t want surprise bills nine, 10 months later.”

    Diane Kimball says she hadn’t gotten an electric bill from National Grid since last August, despite calling the company and having a technician inspect her meter — twice — only to be told it was fine.

    “They have a poor billing practice, or there’s something wrong in the company, but they need to correct it,” she told NewsCenter 5. “I pay my bills. I owe the money. I don’t want my power shut off.”

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    The broadcaster says utility customers reached out to them after reports National Grid failed to bill thousands of gas customers this past winter. On March 31, the Massachusetts Department of Public Utilities (DPU) ordered the company not to collect charges older than 60 days if bills were not sent in a timely manner, pointing to a rule established in 2013. NewsCenter 5 says a DPU spokesperson confirmed this rule applies to all utility customers in the state. Customers have to contact their utility for relief. If there’s still an issue, they can file a complaint with the DPU’s consumer division.

    Pratt says he pushed National Grid for a credit and received a $1,500 refund. Kimball says she’s in the process of having old charges waived. Lawrence-Coston says she had eight out of 10 months’ worth of charges cleared by Eversource.

    “They need to be held accountable for their error,” Lawrence-Coston said. “This had nothing to do with me. It was not my fault that their system wasn’t working.”

    According to NewsCenter 5, Eversource issued a statement saying it was “already working to resolve each of the issues in question” before media inquiries. The broadcaster also quoted a National Grid spokesperson: “We sincerely apologize to any customers experiencing billing delays and remain focused on resolving any long-term billing issues.”

    Weigh the risks of other energy options

    In Massachusetts, consumers have the option to shop for third-party energy suppliers, which could lower their electricity bills. There are some risks, though, so be aware.

    There have been reports in the past where customers who switched service providers paid more over the course of a year. It’s important to read the fine print of a contract when it comes to billing practices, rate changes and fees.

    The Office of the Attorney General also received complaints of aggressive and deceptive tactics by suppliers. Keep your eyes open for shifty sales tactics.

    Massachusetts residents can visit Energy Switch Massachusetts to compare rates and plans by zip code. Consider looking for fixed-rate contracts, transparent terms and checking for any termination fees. Ensure that you’re getting a deal that suits both your budget and energy needs.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • This Michigan family avoids the stress of finding affordable housing by uniting 4 generations under 1 roof — is this the new reality for US households?

    Four generations under one roof might sound chaotic, but for this family, it’s become the key to saving money and staying connected in a time of rising costs.

    In Grand Rapids, Michigan, the Lowe family is proving that living together isn’t just about togetherness, it’s also a smart financial move.

    Don’t miss

    It’s a full house — and a growing trend. According to Pew Research, 18% of Americans now live in multigenerational households, a number that’s been climbing as rent and mortgage prices soar.

    For the Lowes, this setup isn’t just practical, it’s necessary. With U.S. rent averaging over $1,700 a month and the median mortgage payments Americans are applying for reaching $2,205, sharing housing is helping them all stretch their dollars.

    The pros outweigh the cons

    Gema Lowe shares her home with her 84-year-old mother, her daughter Jade and Jade’s three kids.

    "I’m blessed to be able to have my mom with me, my daughters with me and my grandbabies with me," Lowe told Good Morning America.

    Jade, 29, pays her mom a portion of the rent instead of footing an entire mortgage on her own. The rest of the family chips in to split utilities, groceries and other expenses.

    "It allowed me to still live my best life in my 20s,” Jade told GMA. “It allowed me to honestly just be happy and not have to worry about those extra expenses. I get to keep it, and I get to put it in my savings. It means everything, honestly."

    The benefits go beyond just financial advantages. Gema helps with school pickups and childcare, giving Jade the kind of backup most working parents dream of.

    Of course, sharing a home with six people of different ages can come with challenges.

    "There’s a lot going on in the household. And sometimes, you know, I want things my way," Lowe said. "And then… I have to think about, ‘Oh, but maybe it’s not what they would like.’”

    But according to the Lowes, the pros outweigh the cons. Family dinners are the norm, the kids grow up surrounded by love and wisdom from every generation and everyone saves on rent, childcare, food and even emotional labor.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    It’s not just about saving

    As housing costs soar and inflation stretches budgets, more Americans are turning to shared living across generations as a smart financial move.

    According to the U.S. Census Bureau, about 6 million households in the U.S. included three or more generations living under one roof in 2020, up from 5.1 million 10 years prior.

    Why? The answer’s simple: money.

    In a 2021 Pew Research survey, half of lower-income adults said they chose this setup to ease at least a little bit of financial pressure. Even for middle- and upper-income families, multigenerational living can offer savings on everything from rent and mortgage payments to groceries and utilities.

    Americans in these households are slightly less likely to live in poverty, with only 10% still considered poor versus 12% for the general population.

    But it’s not just about pinching pennies. Shared living can often include other big perks. Think built-in child care, elder care and emotional support. Grandparents help with school pickups, parents share bills, kids grow up surrounded by extended family and everyone benefits from a little extra help.

    Of course, it’s not always smooth sailing. Space can get tight and disagreements happen. If you’re considering sharing living space with your extended family, set clear expectations, communicate often and remember the bigger picture.

    As Jade Lowe told GMA, “It’s a blessing to be able to still live at home with my mom, to be able to see my grandma on a day to day [basis], to be able to put my kids and my grandma under one roof where they have such a great relationship."

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘The solution isn’t to abandon markets’: BlackRock’s Larry Fink is betting on a new wave of investment as a cure for economic anxiety. What he’s selling and what it means for your portfolio

    ‘The solution isn’t to abandon markets’: BlackRock’s Larry Fink is betting on a new wave of investment as a cure for economic anxiety. What he’s selling and what it means for your portfolio

    Just when people are more worried than ever about their investments, even to the point of cashing them out, BlackRock Inc. CEO Larry Fink says it’s time to go all in.

    But he has a specific investment in mind: private equity, also known as alternative investments.

    BlackRock (BLK) has long been known for its low-cost stock index funds, or exchange-traded funds (ETFs), but Fink sees a big future in higher-fee private assets that aren’t listed on the stock markets.

    “The solution isn’t to abandon markets,” he wrote in his annual letter to investors.

    “It’s to expand them, to finish the market democratization that began 400 years ago and let more people own a meaningful stake in the growth happening around them.”

    Fink has overseen BlackRock’s rise to the world’s largest money management firm with more than US$10 trillion in assets. He also serves on the board of the World Economic Forum, and believes opening up private-equity markets will help reduce the gap between rich and poor.

    More asset management firms offering private equity

    Fink notes that up until recently only wealthy people could invest in infrastructure projects like data centres, ports and power grids — even real estate projects and private credit were hard to access for the non-accredited investor. That’s because these large-scale investment projects usually require cooperation between private firms, government agencies and stakeholders — and due to their complexity are rarely available as investment options through through shares on a stock exchange.

    To find a way to access these investment opportunities fund managers found opportunities using private equity. Among the asset management companies forging a path to these opportunities are Blackstone (BX), Apollo (APO) and KKR (KKR) — all offering regular investors access to private equity investment opportunities.

    At this point in time, Fink is so bullish on this asset class that he steered his firm to take a lead position. Last year, BlackRock acquired Global Infrastructure Partners for US$12.5 billion and data firm Prequin for US$3.3 billion. The firm is also wrapping up a US$12-billion deal for private credit company HPS Investment Partners.

    Together, these investments will help BlackRock manage US$600 billion in alternative assets.

    Updating the traditional portfolio mix to private equity

    Fink suggested that the traditional 60/40 portfolio of 60% stocks and 50% bonds may no longer be enough to diversify effectively.

    Going forward, Fink suggests investors consider a new portfolio mix with 50% in stocks, 30% in bonds, and 20% in private assets like real estate, private credit and infrastructure.

    To help retail investors tap into these markets, BlackRock started rolling out model portfolios that include private equity and credit funds alongside traditional assets like stocks and bonds.

    These portfolios, which average 15% exposure to private assets, are now available to those invested in the U.S. stock market.

    How can investors get exposure to private equity?

    While it’s possible to invest in BlackRock fund traded on an American stock exchange, investors will need to consider the impact of withholding tax, as well as currency fluctuations.

    For investors who would prefer to avoid U.S. withholding tax and currency exchange fees, consider investing in exchange-trade fund (ETF) with exposure to private equity. Good examples include:

    iShares Diversified Monthly Income ETF (XTR): This fund aims to provide consistent monthly cash distributions with the potential for modest long-term capital growth. Best suited for investors seeking regular monthly income. Primary holdings include Canadian iShares ETFs that offer exposure to a diversified portfolio of income-bearing investments.

    • Asset Allocation (as of March 31, 2025): 40% equities, 50% fixed income, 10% real estate investment trusts (REITs).
    • Top Holdings: iShares Canadian Financial Monthly Income ETF, iShares Canadian Corporate Bond Index ETF, iShares Canadian Real Estate ETF.
    • Best suited for investors seeking regular monthly income.

    iShares Core Income Balanced ETF Portfolio (XINC): Seeks to provide long-term capital growth and income by investing primarily in one or more ETFs managed by BlackRock Canada.

    • Asset Allocation: 80% fixed income, 20% equities.
    • Top Holdings: For fixed income: iShares Core Canadian Universe Bond Index ETF (XBB), iShares Core Canadian Short Term Corporate Bond Index ETF (XSH), iShares U.S. Treasury Bond ETF (GOVT), iShares Broad USD Investment Grade Corporate Bond ETF (USIG). For equities: iShares Core S&P/TSX Capped Composite Index ETF (XIC), iShares Core S&P Total U.S. Stock Market ETF (ITOT), iShares Core MSCI EAFE IMI Index ETF (XEF), iShares Core MSCI Emerging Markets IMI Index ETF (XEC).
    • Best suited for investors looking for a low-cost, diversified exposure to a broad range of asset classes and regions with a conservative goal of regular income.

    The easiest way to get access to these or other ETFs with private equity exposure is to open a discount brokerage account. One good option is to build your own investment portfolio with Investor’s Edge online and mobile trading platform and enjoy low commissions. Get up 100 free online equity trades when you open a CIBC Investor’s Edge account using promo code EDGE100. Offer ends September 30, 2025. Conditions apply.

    Bottom line

    While these new investment opportunities are exciting, investors need consider the risks and additional costs associated with this new portfolio strategy. For instance, investing in private assets can result in higher management fees, less liquidity, and more complexity compared to traditional investments. That means you might not be able to access your money as quickly, so consider your financial goals before diving in.

    To keep up with changes in private-market investments and diversification, check out trusted government and financial resources on the subject.

    Before you make any moves, it’s always a good idea to chat with a financial advisor who can help you figure out whether private-equity investment fits with your risk tolerance and long-term goals.

    Sources

    1. BlackRock: Larry Fink’s 2025 Annual Chairman’s Letter to Investors

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘I can’t afford to buy from Temu now’: Trump tariffs spike prices even at ultra-cheap stores, leaving strained shoppers nowhere else to go

    ‘I can’t afford to buy from Temu now’: Trump tariffs spike prices even at ultra-cheap stores, leaving strained shoppers nowhere else to go

    Rena Scott doesn’t think twice when it comes to shopping on the infamously cheap site Temu. In fact, she usually has 10 to 12 orders going at a time.

    “Everything here has come in from overseas anyway, so you’re just cutting out the middleman, like the Walmarts, the Amazons,” the retired registered nurse from Virginia tells CNN.

    Don’t miss

    But when the Trump administration slapped a 145% tariff on Chinese imports — and a 10% minimum tax on goods from all other countries — “cheap” became a relative label. Temu and Shein raised prices on a lot of their most popular products just ahead of the May 2 tariff deadline.

    “I can’t afford to buy from Temu now, and I already couldn’t afford to buy in this country,” Scott said in late April.

    Two weeks later, the Trump administration and Chinese leaders agreed to temporarily slash most tariffs while they try to work out a new deal. The U.S. lowered tariffs on most Chinese goods from 145% to 30%, while China cut its tariff on U.S. goods from 125% to 10%.

    Yet the reduced rates are still severe — and if a deal isn’t settled by mid August and sky-high tariffs return, Americans who are already buying the cheapest goods available may have no way to avoid the pain.

    Crackdown hits low-income shoppers hardest

    Rena Scott lives alone in Virginia, surviving on disability checks after a transplant ended her nursing career.

    She maintains a frugal lifestyle and hasn’t eaten fast food in a year, drives a 2005 car and keeps her thermostat at 85 degrees to trim the power bill. A savvy bargain hunter, Scott buys in bulk, once ordering 53 packs of yarn she liked.

    But prices are climbing fast. “Not sustainable,” she said, pointing out a cabinet she bought for $56 that increased in price to over $80.

    Temu and Shein had been skirting import duties using the longstanding “de minimis” rule, which let sub-$800 packages enter the U.S. tariff-free. That loophole was closed on May 2 and replaced with a 120% tax, though the Trump administration reduced it to 54% midway through the month.

    Researchers at UCLA and Yale warn the impact will fall hardest on low-income Americans. Nearly half of all de minimis packages went to the poorest ZIP codes.

    In Rochester, N.Y., consumer rights writer Phillip Dampier is stockpiling goods before prices go up any further.

    “Basically anything you might find in a JCPenney,” he told CNN, explaining that he spent eight hours daily shopping on Temu, Shein, TaoBao and AliExpress over the course of two weeks.

    “I have a feeling that this economy is about to go into the tank, and we’re going to have shortages that [rival] the pandemic.”

    Dampier was once loyal to Amazon but said post-pandemic price hikes and poor service pushed him away. His first Temu buy in 2023 quickly became a habit.

    Low-cost Chinese imports ballooned from $5.3 billion in 2018 to $66 billion in 2023. The Trump administration argues tariffs protect U.S. businesses and boost domestic jobs, but shoppers like Dampier don’t buy it.

    “The entire idea of tariffs is idiotic, in my opinion,” he said. “The Trump administration is trying to bully everybody, and it’s wrong, and the tariff policy is wrong.”

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Nowhere to go but up

    The National Retail Federation estimated in November that tariff-related changes could slash Americans’ spending power by $46 billion to $78 billion a year.

    It based its estimates on two scenarios: a 10% tariff on imports from all foreign countries with an additional 60% tax on China, or a 20% universal tariff with an extra 100% tax on China.

    Depending on how negotiations go, that could lead to huge price hikes for a range of items:

    • Clothes: 12% to 20%
    • Shoes: 18% to 28%
    • Appliances: 19% to 31%
    • Toys: 36% to 55%

    That would make an $80 pair of jeans cost up to $16 more, a $650 refrigerator cost up to $200 more, and a $17 plush toy cost up to $10 more.

    Be skeptical of low prices listed online. Shoppers are now getting hit with unexpected fees at checkout as stores like Shein and Temu pass along customs charges to buyers.

    And don’t be surprised if your favorite items are suddenly harder to find. Because of rising import costs, some retailers are cutting back on variety and sticking to bestsellers or high-margin goods. This leaves fewer choices for budget-savvy shoppers.

    What to read next

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.