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A living trust has become a popular estate tool for protecting assets. The Internet features a variety of sites with information on living trusts:

AARP

www.aarp.org/money/estate_planning/articles/truth_about_living_trusts.html

Breaks down differences between a will and living trust and offers advice on avoiding scams.

FAMILY EDUCATION

life.familyeducation.com/trust-funds/money-and-kids/48035.html

Covers setting up a trust fund.

LAWEASY.COM

www.laweasy.com/q/20070807230411/living-trust-and-protecting-assets

Focuses on questions to ask an adviser when setting up a trust.

NATIONAL CONSUMER LAW CENTER

www.consumerlaw.org/initiatives/seniors_initiative/avoid_scam.shtml

Offers insights on living trusts, scams and probate issues.

NOLO

www.nolo.com/legal-encyclopedia/ wills-trusts-estates/

Features information on living trusts under the "Living Trust and Avoiding Probate" section.

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Recall-plagued Toyota Motor reported a 9% drop in U.S. sales in February, but it appears other automakers didn’t gain as much from Toyota’s problems as expected.

Even Ford Motor, which posted strong sales to vault ahead of Toyota and GM to claim the market lead in the U.S., said it didn’t believe its gains were a result of Toyota’s problems.

Ken Czubay, Ford vice president, said the company believes many traditional Toyota customers sat on the sidelines instead of buying a car from another automaker.

Industrywide sales rose 13% from a year-ago, but it was fleet buyers, such as rental car companies, rather than consumers, that accounted for the improved sales. Between the Toyota recalls, snow storms and continued worries about the economy, there were plenty of reasons consumers stayed out of dealer showrooms during the month.

Sales were down for almost all of Toyota’s models. One notable exception was a 10% rise in sales of the Prius hybrid, which was recalled due to a problem with its brakes .Bob Carter, general manager of the Toyota division in North America, said there was some decline in first-time Toyota buyers, but that there did not seem to be a noticeable loss of existing customers to other brands.

Carter said some customers likely delayed purchases to see what offers Toyota would be making to win back consumers. He estimated sales were down about 18,000 in the month due to the recall problems.

Toyota did roll out a number of incentives to buyers, offering 0% financing over five years on about 80% of its models, along with low lease rates. It is also offering two-years of free scheduled maintenance, like oil changes, to any buyer who already owns a Toyota.

GM responded with its own 0% offer on more than half of its 2010 models, while Ford officials said they plan on new incentives as well.

All the other major automakers posted gains compared to a year ago, but that was to be expected given that February 2009 was the worst month for sales in nearly three decades.

While Ford (F, Fortune 500) reported a 43% increase in U.S. sales in February, much of the gain was due to a 74% jump in fleet sales to businesses. Rental car companies alone accounted for just over 30,000 vehicle sales. Without the rental companies, Ford sales would have been up only 13% in the month.

But including sales at the Volvo unit Ford is in the process of selling, its sales total topped GM’s for the first time since August 1998, when a strike briefly shut many GM plants.

"The February results demonstrate that not only are the recent Ford product offerings being well-received, but also that GM is still suffering from post-bankruptcy syndrome," said Jack R free credit report and score. Nerad, executive market analyst for Kelley Blue Book.

In a further display of confidence, Ford also announced an increase in its North American vehicle production target for the second quarter.

GM doesn’t gain as much from Toyota problems

GM reported its sales rose only 12% from a year ago, falling short of Edmunds.com’s forecast of a 16% rise. GM’s sales were also down slightly from January.

GM reported that sales at the four brands it is retaining - Chevrolet, GMC, Buick and Cadillac, were up 32% from February 2009. But there was an 86% drop in sales at the four brands it is in the process of closing or selling — Saab, Saturn, Pontiac and Hummer.

GM blamed some of the weakness on the snow that hit much of the eastern United States during the month. The company said bad weather may have cut overall sales by 5% or more. GM pointed out that Chevrolet sales were down 17% in the Northeast, but up by double digits in every other region.

"It took a bit of time for dealers to get the snow off the cars and get the customers back in the showrooms," said Susan Docherty, GM’s vice president of U.S. marketing, on a conference call.

GM didn’t give any estimates about the impact Toyota’s problems might have had on GM’s sales. "All I’ll say is we got what we thought was our fair share of Toyota sales," said Michael DiGiovanni, GM’s head of sales analysis, on the call.

Chrysler Group’s sales rose less than 1% from a year ago. But that was a positive surprise, as Chrysler had been expected to join Toyota in reporting lower sales. A big jump in fleet sales kept Chrysler sales from falling.

Chrysler’s sales were also good enough to barely stay ahead of Japanese automaker Honda Motor (HMC) for the No. 4 position in U.S. sales.

Honda’s sales rose 13%, but that was weaker than Edmunds.com’s forecast of a 24% gain. Japan’s Nissan reported a 29% jump in sales compared to a year ago.

Some analysts think Ford and Korea’s Hyundai stood to gain the most from Toyota’s problems. Sales for Hyundai were up 11% while sales for sister brand Kia rose 9% in February from a year ago.

Money magazine is looking for Detroit families (including people who have recently moved away) who are willing to discuss their finances and are looking for financial advice. If interested, email your contact information to gmannes@moneymail.com.  

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Indonesia’s inflation accelerated to the fastest pace in nine months amid rising commodity and food prices, putting pressure on the central bank to raise interest rates this year.

The consumer price index rose 3.81 percent in February from a year earlier after gaining 3.72 percent in January, the central statistics agency said in Jakarta today. That compares with the 3.97 percent median estimate of 20 economists in a Bloomberg News survey.

“We have seen commodity prices start to pick up in February, putting pressure on inflation,” Winang Budoyo, an economist at Jakarta-based PT Bank CIMB Niaga, said before the report. The prospect of faster price gains may force the central bank to raise its policy rate to 6.75 percent in the coming months, he said.

Bank Indonesia, which meets on March 4 to review its policy, has kept borrowing costs at a record low since August, following nine cuts that have helped Southeast Asia’s biggest economy avoid a recession. Faster inflation has prompted some Asian policy makers to start exiting monetary stimulus as the region leads the world out of its economic slump.

Indonesia’s central bank will probably maintain its benchmark interest rate at 6.5 percent this week, according to all 21 economists in a Bloomberg News survey. Still, borrowing costs may rise as early as the third quarter, a survey of 12 economists showed.

Exports Surge

In neighboring Malaysia, which will also hold a policy meeting on March 4, five out of 16 economists surveyed expect Governor Zeti Akhtar Aziz to raise the overnight rate to 2.25 percent from 2 percent after the government said last week the economy emerged from its recession in the fourth quarter paydayloans.

Indonesia’s exports, which account for about 29 percent of the country’s gross domestic product, rose 59 percent to $11.57 billion in January from a year earlier after gaining 49.8 percent in the previous month. That’s the biggest jump since at least December 1995, when Bloomberg data started.

The Jakarta Composite index rose 0.4 percent at the 12 p.m. midday break in Jakarta. The rupiah rose 0.7 percent to 9,268 per dollar, the biggest gainer in Asia, according to Bloomberg data. The currency is the best performer in the region this year, excluding Japan.

Imports rose 44.6 percent to $9.54 billion in January from a year earlier after gaining 33.4 percent in the previous month. That left a trade surplus of $2.03 billion.

Indonesian consumer prices rose 0.3 percent in February from the previous month after gaining 0.84 percent in January.

Palm oil for May delivery rose 1 percent to 2,624 ringgit ($774) a metric ton on the Malaysia Derivatives Exchange as of 10:23 a.m. Jakarta time today. Prices for the edible oil have risen 37 percent in the past year. The cost of rice, the staple for Indonesia’s 230 million people, rose 4 percent to 8,100 rupiah ($0.87 ) a kilogram in February from the end of December, according to data from PT Food Station Tjipinang Jaya, Indonesia’s biggest market for the grain.

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Europe’s economic recovery may fail to gather strength for most of 2010 as governments phase out stimulus measures and domestic demand remains “subdued,” the European Commission said.

Gross domestic product in the 16-member euro region may rise 0.2 percent in the first, second and third quarters before increasing 0.3 percent in the three months through December, the Brussels-based commission, the European Union’s executive, said today in its semi-annual economic forecasts. In the fourth quarter of 2009, the economy expanded just 0.1 percent.

European domestic demand remains weak and it’s not yet clear to what extent the euro region will benefit from a global recovery, the commission said. Economic confidence unexpectedly declined this month as governments try to stem investor concern about budget deficits in Greece and other nations, which has pushed the euro lower against the dollar.

“All in all the recovery is in progress,” EU Economic and Monetary Affairs Commissioner Olli Rehn said at a press conference in Brussels. Still, it’s “fragile and clearly turning the European economy back on a strong and sustainable path is now our overriding objective.”

Cautious Outlook

The German economy, Europe’s largest, may fail to grow in the three months through March before expanding 0.3 percent in the following two quarters, the commission forecast. France may grow 0.4 percent in the first quarter and stall in the second. The U.K., which isn’t part of the euro area, is seen expanding 0.2 percent in both quarters.

The commission sees the euro-area economy expanding 0.7 percent this year after a 4 percent contraction in 2009, unchanged from its previous forecast in November.

“The question is how robust the global cycle will prove to be and how much EU economies will benefit from it,” the commission said. “Lagged adverse effects from the past euro appreciation cannot be excluded either.”

While the euro has fallen almost 10 percent against the dollar in the last two months on concern that fiscal problems in Greece will spread to other euro nations, the currency is still 6 percent higher than a year ago. The euro declined today and was at $1.3492 as of 11:39 a.m. in London.

Deficit Concerns

Concern about Greece’s ability to finance its deficit and debt has roiled financial markets since the government revealed it had a budget shortfall of 12 cash advance payday loan.7 percent of GDP last year. That’s more than four times the limit allowed for countries using the euro and the highest in the 27-nation European Union.

Standard & Poor’s said late yesterday it may lower its BBB+ rating on Greece by the end of March and Moody’s Investors Service said today it may reduce its A2 grade in a few months.

The commission said that its budget forecast remains “broadly unchanged” from its November assessment, when it projected the region’s deficit would widen to 6.9 percent of GDP in 2010. All euro-area nations will breach EU deficit limits this year and next, the commission forecast.

It also said there’s a possibility that the impact of sliding sovereign bonds could be “broader, weighing further on the recovery” by pushing up financing costs.

On financial markets, “the situation remains highly uncertain,” it said. “Developments in sovereign bond markets indicate that mounting concerns about the sustainability of public finances in some member states could have a stronger adverse impact than currently assumed.”

ECB Meeting

Euro-region inflation may accelerate to 0.8 percent in the current quarter and 1.3 percent in the second quarter, according to today’s report. For the full year, the commission sees inflation averaging 1.1 percent. The European Central Bank, whose governing council meets in Frankfurt on March 4, aims to keep annual consumer-price increases just below 2 percent.

While the euro’s slide against the dollar has helped bolster exports by making them more competitive abroad, it has also boosted costs of imported goods such as raw materials. Crude oil prices have surged 87 percent over the past year.

“The projected sluggish recovery and a large slack in the economy are expected to offset price pressures from slightly higher oil and commodity prices and a lower euro exchange rate vis-a-vis the dollar,” the commission said. “Underlying inflation trends remain largely unchanged.”

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WASHINGTON — Toyota officials claimed they saved the company $100 million by successfully negotiating with the government on a limited recall of floor mats in some Toyota and Lexus vehicles, according to new documents shared with congressional investigators.

Toyota, in an internal presentation in July 2009 at its Washington office, said it saved $100 million or more by negotiating an “equipment recall” of floor mats involving 55,000 Toyota Camry and Lexus ES350 vehicles in September 2007.

The savings are listed under the title, “Wins for Toyota — Safety Group.” The document cites millions of dollars in other savings by delaying safety regulations, avoiding defect investigations and slowing down other industry requirements.

The documents could set off alarms in Congress over whether Toyota put profits ahead of customer safety and pushed regulators to narrow the scope of recalls. Two House committees are holding hearings this week on the Japanese automaker’s recall of 8.5 million vehicles in recent months to deal with safety problems involving gas pedals, floor mats and brakes.

The world’s largest automaker has been criticized for responding too slowly to complaints of sudden acceleration in its vehicles, threatening to undermine its reputation for quality and safety.

The documents were turned over to the House Oversight and Government Reform Committee and obtained by The Associated Press on Sunday. The presentation was first reported by The Detroit News.

A Toyota spokeswoman did not immediately comment.

Kurt Bardella, a spokesman for Rep. Darrell Issa, R-Calif., the top Republican on the Oversight Committee, said the documents raise questions on “whether Toyota was lobbying for less rigid actions from regulators to protect their bottom line.”

The new documents show the financial benefit of delay. In the presentation, Toyota said a phase-in to new safety regulations for side air bags saved the company $124 million and 50,000 man hours. Delaying a rule for tougher door locks saved $11 million.

On defect regulations, the document boasts that Toyota “avoided investigation” on rusting Tacoma pickup trucks. The National Highway Traffic Safety Administration investigated the case in 2008 but closed it without finding a safety defect. Toyota agreed to buy back certain rusty pickups, inspect other and extend warranties.

The document lists seven “Wins for Toyota & Industry,” including “favorable recall outcomes,” “secured safety rulemaking favorable to Toyota” and “vehicles not in climate legislation.” Another page lists “key safety issues,” including “Sudden acceleration on ES/Camry, Tacoma, LS etc.”

In one passage, the document says Toyota “negotiated ’equipment’ recall on Camry/ES re SA; saved $100M+, w/ no defect found.”

NHTSA had launched an investigation in March 2007 over allegations that floor mats were interfering with accelerator pedals. Toyota told the government a month later that there was “no possibility of the pedal interference with the all-weather floor mat if it’s placed properly and secured.”

By that August, the government had connected the problem to a dozen deaths and a survey of 600 Lexus owners discovered 10 percent reported sudden or unexpected acceleration. But the recall in September 2007 was limited to 55,000 Camry and ES350 vehicles to replace the floor mats.

The 10-page internal presentation was dated July 6, 2009, less than two months before a high-speed crash near San Diego killed a California highway patrol officer and his family and reignited concerns over sudden acceleration in Toyotas.

In October 2009, Toyota issued its largest-ever U.S. recall, involving about 4 million vehicles, over concerns of pedals getting stuck in floor mats.

The presentation lists Yoshi Inaba, Toyota’s chief executive in North America, on its cover. Inaba is scheduled to testify before the House Energy and Commerce Committee on Wednesday, along with Toyota president Akio Toyoda and Jim Lentz, president of Toyota Motor Sales USA.

Separately, the government said Sunday it was already investigating reports of sudden acceleration in Toyota vehicles when the nation’s largest auto insurer shared complaints about the issue.

The Transportation Department released documents showing that in December 2003 it began investigating 39 complaints of sudden acceleration involving 2002-03 Toyota Camry sedans. That was about three months before State Farm shared with NHTSA complaints of sudden acceleration in 2003-04 Lexus ES300s and 2002-04 Camrys.

The document released by Transportation Secretary Ray LaHood said the department had received allegations of 26 crashes and 4 injuries involving drivers complaining of their vehicles surging when backing up, pulling in and out of parking spaces and shifting gears.

Reports of deaths in the U.S. connected to sudden acceleration in Toyota vehicles have surged in recent weeks, with the toll of deaths allegedly attributed to the problem reaching 34 since 2000, according to new consumer data gathered by the U.S. government.

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FENTON — Local, state and federal officials Thursday affirmed the commitment to reviving the worker-less Chrysler assembly plant, pledging $2.1 million to start the process of returning employment to the facility abandoned by the domestic automaker last summer.

At the same time, the dignitaries — including the Obama administration’s "car czar" — tamped down expectations for a quick sale and subsequent job recovery at the 5 million square-foot, 295-acre parcel of property.

"This is one step of the process," said Edward Montgomery, who formally holds the title of director of recovery for the federal program, called Auto Communities and Workers. "We’ve come a long way, but we have a long way to go."

Montgomery and the other speakers delivered their remarks from a podium arrayed before the idled machinery and production lines in the Chrysler South plant, which once produced Chrysler minivans.

The federal government is pledging $1.575 million toward the initial phases of the site redevelopment: cleaning, positioning and marketing the site for resale. Missouri, St. Louis County and the city of Fenton are contributing $575,000 toward what David Kerr, director of the state Department of Economic Development, called a "strategic action plan to move this property forward."

In a brief meeting with reporters after the official presentation, Montgomery revealed that economic development officials have fielded questions about the plant from unnamed European and Asian auto manufacturers.

Still, he acknowledged the two plants on the Chrysler site likely produced the last motorized vehicles when the final Dodge Ram pickup rolled off the assembly line last July.
"I don’t know if they’ll ever make cars here again," Montgomery said.

Since 2004, Missouri has lost two-thirds of the jobs that once manufactured automobiles and trucks across the state.

His words echoing through the massive emptiness of the former minivan plant, Fenton Mayor Dennis Hancock took a moment Thursday to remember a better, and more prosperous time, for workers in the state’s auto industry.

"The first time I walked in this building, in 2001, I was struck by how loud it was," Hancock recalled. "We (weren’t) able to have a conversation face-to-face because the noise was deafening.
"Now,’ he added, gesturing toward the muted machinery. "The silence is deafening."

EARLIER STORY

FENTON — The men from Washington are coming, with cash to help figure out what to do with this city’s massive empty auto plant.

Obama administration "car czar" Ed Montgomery and top officials from the U.S. Department of Commerce will be in town today to talk with local leaders about how St. Louis can recover from the collapse of its auto industry. And they are widely expected to cut a check to help the region plan for redevelopment of the 5 million square foot twin auto plants that Chrysler shut down in July.

Commerce spokespeople wouldn’t confirm the size of that check Tuesday, but St. Louis County Executive Charlie Dooley said it would be for $1.575 million — the amount local officials sought in a grant application filed last year. With an additional $575,000 in matching funds from the state, county and Fenton, that money would pay for a two-year, $2.1 million effort to clean up, plan and market the sprawling site along Interstate 44.

"This is great news," Dooley said. "We’ve got to get something going in that place. It’s just too important."

The funds will pay for studies of environmental cleanup, said Fenton Mayor Dennis Hancock, so potential buyers would know what they’re getting into. It also will look at potential incentives to help whoever buys the place turn it back into productive use.

What that use might be is unclear. A bankruptcy court is trying to sell the property, and several potential purchasers have toured it. But no deal is imminent. Local leaders have ideas of what they would like to see, but at this point they are just that.

"Our priority is jobs," Hancock said. "Whatever happens there is going to have to create jobs."

With unemployment hovering near 10 percent, there is a "sense of urgency" to find a new use for the plant quickly, said Rep. Russ Carnahan, D-St. Louis. He said he would love to see a "green" automaker take over the plant, but acknowledged that it may be best to break up the 295-acre site for multiple users.

"It’s an incredible facility with great possibilities," he said. "We just need to find the right match."

Along with the expected grant announcement, today’s event — at the empty Chrysler South Plant — will include a panel discussion on "collaborative efforts under way to help the St. Louis region" rebound from the loss of the plants and their thousands of jobs.

John Fernandez, assistant secretary of commerce, said Washington would "continue to support economic development projects in St. Louis as we work collaboratively to bring new businesses and jobs to the area."

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Snow that began falling Sunday night in the Louisville area has prompted delays and closings at some schools and businesses.

The National Weather Service in Louisville predicted the Louisville area will receive between 4 and 6 inches of snow by 7 p.m. EST.

According to Business First’s news gathering partner, WDRB-TV, General Electric Co. (NYSE: GE) canceled first-shift production at Appliance Park for Monday. Warehouse and maintenance employees were being asked to report.

Health Insurer Humana Inc. (NYSE: HUM) and restaurant company Yum Brands Inc. (NYSE: YUM) put employees on a two-hour delay.

The Kentucky Lottery Corp. closed its offices and Kimball International Inc. (NASDAQ: KBALB) halted manufacturing for the day at its office furniture plant in Salem, Ind.

Weather forces school cancellations

Some local school systems, including Jefferson County Public Schools, were scheduled to be off for Presidents’ Day. Others decided to call off classes after snow and falling temperatures affected road conditions.

JCPS officials have postponed parent teacher conferences scheduled for today.

Jefferson County Catholic Schools also are closed Monday.

(Click here to check other closings and cancellations business cards design.)

The snow also affected area colleges and universities.

The University of Louisville, Bellarmine University, Indiana University Southeast, Daymar College, Galen College of Nursing, ITT Technical Institute, Ivy Tech Community College, National College and Sullivan University all canceled classes on Monday. Sullivan’s College of Technology and Design is open, and operating on a two-hour delay.

McKendree University also was scheduled to operate on a two-hour delay Monday.

Louisville International Airport open, some delays possible

Crews began working to remove snow at Louisville International Airport about 11 p.m. Sunday and the airport remains open, said Trish Burke, public relations director for the Louisville Regional Airport Authority.

Fog in Atlanta has caused the cancellation of some flights to Hartsfield-Jackson Atlanta International Airport, Burke said.

The weather might force delays and cancellations of flights to other cities, Burke said.

She urged travelers to call their carriers or check the status of flights online before coming to the airport. (Click here to check the status of a flight at Louisville International Airport.)

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When Abel Collins decided to end his three-year banking relationship with Bank of America earlier this year, he simply wanted to make a statement.

The 31-year old Rhode Island-resident said he never had a problem with BofA specifically. But he switched from the nation’s biggest bank to a local credit union to protest what was happening in the financial sector more broadly, namely that banks had become "too big to fail" and Washington wasn’t doing enough about it.

"I basically figured if Congress wasn’t going to take action to reduce the size of banks or at least regulate the activities they were involved in, I’d remove my part of the money they [Bank of America] controlled," Collins said.

Collins isn’t the only one to put principles over convenience these days. Even though BofA, Wells Fargo (WFC, Fortune 500), Citigroup (C, Fortune 500) and other big banks continued to attract more deposits in the fourth quarter, countless other Americans have suddenly found themselves more willing to switch to smaller banks.

The general public anger over taxpayer bailouts and big bonuses for bankers is one reason. According to a recent survey published by Forrester Research, consumers said they considered the top banks, including BofA and JPMorgan Chase (JPM, Fortune 500), as among the least trusted U.S. financial institutions.

There’s also growing resentment about how many big banks are nickel-and-diming customers in tough economic times. Several CNNMoney.com readers said it was the seemingly never-ending series of fees that prompted them to ditch larger banks.

Barry J., who detailed his switch from Bank of America (BAC, Fortune 500) to Southeastern lender Regions (RF, Fortune 500) in an email, said he had just become fed up with the $8.95 monthly maintenance fees on each of his three accounts.

"When I was closing my accounts, [Bank of America] would call me with a survey to see if it was the fault of any their customer service people or tellers or bank managers," he wrote paydayloan. "They never asked if it was the additional fees they were charging."

Others said they were simply lured away by the attractive rates offered by a local bank or credit union that the big guys just couldn’t match.

Tom Q. of Minnesota said he ended his 17-year relationship with Wells Fargo after learning he could open a checking account that earned a 4.10% annual percentage yield at nearby credit union.

"Wells Fargo just laughed and the banker said he would probably do the same!" he wrote.

Of course, these isolated incidents may not make much of an impact for banks like Wells Fargo, as consumer deposits generally make up just a fraction of a big bank’s overall deposit base.

State and local governments as well as large and small businesses also make up a sizeable chunk of a bank’s overall deposits. But big banks should note that even some business owners aren’t too happy with their banks these days.

Two months ago, John Andersen said he became so fed up with some of the practices of the big banks that he decided to close the KeyBank (KEY, Fortune 500) checking account he used for his Portland, Ore.-based carpet cleaning business The Lindey Company.

Andersen added that his decision was also driven by a desire to do business with a smaller lender that would make loans that would benefit the local community.

Nowadays, Andersen says he pays his bills from an account he opened at Sunset Science Park Federal Credit Union, a lender with such personalized service that they do not even use deposit slips, he notes.

"I’m very happy," he said. "It is like the banker in the movie ‘It’s a Wonderful Life’. It really is that way." 

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Packed up with three days worth of clothes and staying in the nearby home of a friend, Nikki Heckman knew that a couple smothering feet of snow would bring a welcome rush of new customers to her Bistro-to-Go on East Ohio Street on the North Side.

“Last year, the same thing happened,” Heckman said. “We have this little hub of people that usually drive into the suburbs. Then when they’re stuck here, they find us.”

Hence, Heckman’s restaurant, which is designed for large, take-out demand, was ‘crazy busy’ generating substantially greater sales than a typical Saturday, despite a winter storm that dumped the fourth largest amount of snow ever recorded in the Pittsburgh area.

Meanwhile, many bars and restaurants throughout the region struggled to stay open because of a storm that blockaded the ability of staff and customers to reach them, clogged parking spaces with mounds of snow and, in some cases, forced closures because of power outages.

On Mount Washington, many of the restaurants, including Isabela on Grandview, were forced to close on Saturday because the power went out. In addition, the main road to the neighborhood, McArdle Roadway, was closed because of downed trees.

Fred Hartman, vice president of sales for Breadworks, just wrote off a loss on Saturday because he couldn't send out delivery trucks. He described it as a devastating weekend for the restaurants that his North Side bakery delivers to.

“The whole month was dead because the Steelers weren’t in the playoffs,” he said. “This weekend double-crippled these restaurants.”

Jim Christy, owner of Gibsonia-based Incredible Foods, saw a similar impact from the restaurants he supplies with desserts and hor d’oeuvres. He said even the North Hills Denny’s , a restaurant he described as always open 24/7/365, was closed down on Saturday evening.

“I’ve got restaurants that I’m sure are getting ready to close up their doors,” he said.

Jim Mendelson, who lives on Mount Washington and saw the damage the storm did there, said that many stores and restaurants closed on Walnut Street in Shadyside, where he operates the long-time bar Doc’s Place. Yet with memories of how the blizzard of 1993 resulted in perhaps his best business weekend of the 90s, he said Doc’s had a booming day on Saturday as patrons found it a welcoming oasis from winter. However, on Friday, the restaurant’s business disappeared as customers rushed home to hunker down for the storm.

Overall, he said business was down 20 percent for the weekend after a decent Sunday, but he expects it could’ve been much worse since so many of his patrons were nearby residents who walked to Doc’s.

“People wanted to go out and get their groove on,” he said. “They didn’t have much of a choice but to hit the bars.”

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Philippine inflation held near an eight-month high in January as oil and food costs rose, supporting the central bank’s decision to start unwinding stimulus measures.

Consumer prices increased 4.3 percent from a year earlier, after a 4.4 percent gain in December, the National Statistics Office said in Manila today. That compares with the median forecast for a 4.9 percent increase in a Bloomberg News survey of 12 economists.

The central bank remains “watchful of price signals,” Deputy Governor Diwa Guinigundo said today. “Our monetary policy stance was also validated to be supportive of price stability while accommodating economic growth.”

Bangko Sentral ng Pilipinas last week raised the rediscounting rate, one of the rates it charges lenders for borrowing money from the central bank, by half a percentage point to 4 percent. The Philippines imports almost all its oil and the price of the commodity has risen more than 70 percent in the past 12 months.

Benchmark three-year bond yields climbed, ending three days of declines. The peso slid 0.7 percent against the dollar.

“People think it’s just a one-time blip,” Yvette Marquez, who helps manage the equivalent of $9.8 billion in assets at BPI Asset Management in Manila, said of the moderation in consumer- price gains. “We still expect inflation to rise, although it will be a tempered rise.”

Benchmark Rate

The central bank left its benchmark interest rate unchanged at 4 percent for a fifth straight meeting on Jan. 28, the lowest level since central bank data started in 1990. Policy makers raised the inflation forecast for this year to 4.7 percent from 4 percent.

Philippine economic growth accelerated to 1.8 percent last quarter, the fastest pace in a year. Expansion slowed to a decade-low 0.4 percent in the third quarter.

Food, beverage and tobacco costs rose 4.3 percent last month. Fuel, electricity and water prices climbed 9.2 percent.

“Current monetary settings are appropriate,” Bangko Sentral ng Pilipinas Deputy Governor Armando Suratos said in a mobile-phone text message after the inflation report. The central bank will watch for “any possible build-up in inflationary pressures emanating from demand and supply forces and preemptively revisit and calibrate policy settings when warranted,” he said.

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