Consumer Catch-up: GM potential recall, SF owes taxes, Valentine's Day spending

EMBED </>More Videos

Michael Finney and 7 On Your Side have consumer stories you should know about for Thursday, Feb. 8, 2018. (AP Photo/David Goldman, File)

General Motors asks to avoid recall

General Motors is once again asking the U.S. government for permission to avoid a recall. This is the third time GM asked to avoid the recall involving potentially deadly Takata air bag inflators.

In the filing, GM said the front passenger inflators were custom-made for its trucks by Takata. GM claims they have bigger vents and stronger steel end caps than other inflators. The company also said none of them have blown apart on roads or in extensive lab testing.

If the automaker is able to avoid a recall, GM said it could save as much as $1 billion. The recall would impact about 6.8 million pickup trucks and SUVs from 2007 - 2011 model years.

San Franciscans most likely to owe IRS

If you live in San Francisco, you could be in debt to the IRS - to the tune of more than $7,000!

A new study from MagnifyMoney found that San Franciscans were the most likely Americans to owe taxes. In fact, the study found 25% of taxpayers in San Francisco will owe taxes when they file this year. The average amount owed is a whopping $7,226. MagnifyMoney said that is 40% higher than the national average.

The site said despite the higher amount, it is in line with the national average relative to income.

There is some good news, though. For taxpayers who will receive a refund, San Francisco comes in at number 6 for the largest refund - an average of $3,466.

Valentine's Day spending

Many people are rushing to make those reservations and order flowers and gifts - all ahead of Valentine's Day, next Wednesday.

All that spending adds up. The National Retail Federation said American consumers will come near a record for the 2018 holiday - spending $19.6 billion. That's compared to $18.2 billion in 2017.

More than half the population, 55%, is expected to participate in the consumer holiday.

Broken down per person, the NRF predicted each consumer will spend $143.56.

Traditional gifts are still the favorites. Candy is the most popular gift for Valentine's Day 2018, followed by greeting cards, flowers, and an evening out.

Click here for a look at more stories by Michael Finney and 7 On Your Side.

Web copy written by Miranda Dotson
Related Topics:
business7 On Your Sideu.s. & worldgeneral motorsIRStaxesvalentine's daySan Francisco
(Copyright ©2018 KGO-TV. All Rights Reserved.)




7 ON YOUR SIDE
More 7 On Your Side

BUSINESS
More Business

Top Stories
Show More