ON THE MOVE
Accounting firm adds
to its assurance group
• Bober Markey Fedorovich has added Kristian R. Barr to its assurance and advisory group.
• Manuel Nassar was appointed to technical adviser within the Davey Institute at the Davey Tree Expert Co.
Five Hyundai, Kia models
have high rate of fire claims
Owners of five Hyundai and Kia cars and SUVs file fire insurance claims at a rate far higher than the average for comparable vehicles, according to an insurance industry study.
The Highway Loss Data Institute, which analyzes data from insurers representing about 85 percent of the U.S. industry, found that some Hyundai and Kia vehicles equipped with four-cylinder engines have double the noncrash fire claim rates than the average of comparable vehicles.
Last week, the South Korean brands announced they would recall about 168,000 vehicles to fix a fuel pipe problem that can cause fires. The problem stems from improper repairs during previous recalls for engine failures. They also announced additional sensor software for another 3.7 million vehicles.
Hyundai and Kia started recalling 1.7 million vehicles in 2015 — about 618,000 of which are Kias — because manufacturing debris can restrict oil flow to connecting rod bearings. That can cause bearings in 2-liter and 2.4-liter four-cylinder engines to wear and fail. The problem can also cause fires. The repair in many cases is an expensive engine block replacement.
Sales of existing homes
fall 6.4 percent in December
U.S. home sales cratered in December, causing price growth to slip to the lowest level in more than six years as the housing sector ended 2018 on a decidedly weak note.
The National Association of Realtors said Tuesday that sales of existing homes plunged 6.4 percent to a seasonally adjusted annual rate of 4.99 million last month, the worst pace in almost three years. For all of 2018, sales of existing homes fell 3.1 percent from a year ago to 5.34 million units, the weakest total since 2015.
Starbucks will expand
delivery in more cities
Starbucks is expanding its delivery service and aims to offer it at nearly one-fourth of its U.S. company-operated coffee shops.
The company launched the service Tuesday in San Francisco and will expand to some stores in New York, Boston, Washington, Chicago and Los Angeles in coming weeks. It tested the idea in 200 Miami stores last fall.
Starbucks says 95 percent of its core menu will be available for order using the Uber Eats mobile app. There will be a $2.49 booking fee.