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HFF Inc. today posted a second quarter profit of $2.7 million, or 14 cents per share, compared with a loss of $200,000, or 1 cent per share, in the comparable year-ago quarter.

For the quarter ended June 30, the Downtown Pittsburgh-based commercial mortgage broker (NYSE:HF) had revenue of $34.1 million, more than double the revenue of $16.4 million it posted a year ago.

For the first six months of the year, HFF had net income of $2.6 million, or 14 cents per share, on revenue of $53.5 million. That compares with a loss of $2.2 million, or 14 cents per share, on revenue of $29.7 million in the first six months of 2009.

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Although gasoline prices did not drop by much in Southern California, it was a third-straight week of declines, according to the Automobile Club of Southern California's Weekend Gas Watch.

According to the Auto Club, the average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.121 per gallon, which is six-tenths of a cent less than last week, a nickel higher than last month, and 17 cents higher than last year.

On the Central Coast, the average price is $3.185, down two cents from last week, four cents higher than a month ago, and 16 cents above last year.

In the Inland Empire, the average per gallon price is $3 cash advance loan no fax.105, which is four-tenths of a cent lower than last week, five cents higher than last month, and 17 cents more than last year.

"The gas price spread between this year and the same time last year has shrunk from a difference of about $1.10 in January to just four cents per gallon in early June, but now the gap has widened again. Right now, the difference between today’s pump price and the July 2009 price is 15 to 17 cents a gallon," Auto Club Spokesperson Jeffrey Spring said in a statement.

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Out-of-pocket costs for the millions of Americans with employer-based health coverage rose again in the past year, although at a slower pace than the year before, according to a new industry report released Tuesday.

However, as employers prepare to make health reform’s mandated changes to their benefits plans later this year, the changes could shift some costs away from workers and raise them for companies.

American workers spent 7.4% more on their health care coverage over the past year, according to the sixth annual survey conducted by health care consulting firm Milliman Inc. The increase translates to about $506 more that workers contributed to their care - $321 for their company’s health plan and $185 for employee out-of-pocket expenses.

But, in a bright spot for workers, the increase was lower than the 10.6% boost in the survey a year ago.

"Although employers are still bearing about 60% of their workers’ health care costs, this is a pretty significant amount that employees are paying," said Lorraine Mayne, principal and consulting actuary with Milliman.

"If you think about a family of four with a household income of $50,000, they are paying about 8.7% of their income in employee contribution to their coverage," she said.

The report also showed that employers’ subsidies on their workers’ coverage increased about $797, or 8%, over the past year.

According to the Census Bureau, about 177 million Americans — more than half the population — are covered by employer-provided health insurance.

Under health reform, there are four major near-term changes that companies have to make to their coverage plan that will push up their share of health care costs.

These changes include expanding dependent coverage for adult children up to age 26, removing lifetime and annual limits, eliminating co-payments and co-insurance for certain preventive services, and prohibiting any restrictions of children’s coverage for preexisting conditions.

"For many employees, these changes will increase the value of their benefits," said Mayne. "But for many others, those who don’t have adult children for instance, the changes will have little effect."

Your medical costs

Including both what employees pay and what employers contribute, the total 2010 cost of health care for a typical family of four increased 7.8% to $16,771, according to the Milliman report.

Physicians made up the biggest chunk, at 33% of total medical costs, according to the report. However, the rate of increase in physician costs declined to 5.2% from 6% in 2009.

The fastest growing component of health costs is hospital outpatient care, up 11.6%, compared to an increase of 10.2% the prior year. The report said the increase was driven by increases in the cost of care rather than people using the facility more.

Elsewhere, hospital inpatient costs increased by 9.8% and pharmacy costs rose 6.1%

In a look at 14 metropolitan areas, the report cited Miami, New York and Chicago as three cities where health care expenses are about 10% higher than the national average.

Total health care costs for a family of four exceeded $20,000 in those three cities, with Miami topping out at $22,089.

The Milliman Index is based on a national survey of more than 4,000 employers as well as data from the Kaiser Family Foundation. 

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Gibraltar Private Bank & Trust CEO and founder Steven D. Hayworth has replaced Adolfo Henriques as chairman of the Coral Gables-based bank.

In September, a group of more than 50 local investors led by Hayworth bought the bank from Boston Private Financial Holdings, where Henriques is a board member. During the negotiations to sell the bank to the local group, Henriques took over as chairman.

The former CEO of Florida East Coast Railway, Henriques remains on the board of Boston Private cash advance no fax.

“I will miss my friends on the Gibraltar Private board, but I leave knowing that Steve and his team have created a terrific private bank and wealth management company that will serve our community well in the future,” Henriques stated in a press release.

Gibraltar Private Bank lost $20.2 million in 2009 and ended the year with $1.5 billion in assets.

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Consumer prices in February rose from a year ago amid higher energy costs, but the pace of price increases slowed for the second straight month, the government reported Thursday.

The Consumer Price Index, the government’s key inflation measure, rose 2.1% over the past 12 months, driven by a 37% climb in gasoline costs during the period. In January, prices climbed 2.6% from the previous year.

The so-called core CPI, which is closely watched by economists because it strips out volatile food and energy prices, rose 1.3% over the past year, the smallest gain since February 2004.

February. For the month, overall prices were unchanged as declining energy prices offset increases in prices of food and other items. Economists surveyed by Briefing.com were expecting prices to rise 0.1%. Prices rose 0.2% in January.

Food costs edged up 0.1% during the month, while energy prices fell for the first time since April 2009, posting a 0.5% decline. The drop was due to a 1.4% dip in gasoline prices.

Core CPI for the month rose 0.1%, in line with economists’ expectations and up from the 0.1% decrease in January instant payday loan.

Medical care costs rose for a second straight month and prices of new cars and used cars and trucks were also higher. The costs of clothing and airline fares decreased, while housing costs held steady.

The tame inflation reading supports the Federal Reserve’s decision to continue to hold its key interest rate near zero.

"Core inflation continues to be a non-issue in the near-future, so the Fed’s easy monetary policy can continue into the third and fourth quarter of this year without inflation being an issue," said Adam York, an economist at Wells Fargo.

He added that the oversupply in the housing market will continue to put downward pressure on home prices, which will hold core inflation low for up to a year.

"When the housing market returns to a normal level and then home prices begin rising, inflation will pick up, probably in early 2011" he said. "It will pick up steam throughout next year as we see the economy recover." 

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What is wrong with the vehicles?

Toyota said the accelerator pedal on the affected models can stick in a partially depressed position. It also can be slow to rise back up when you ease off the gas. In some cases, vehicle floor mats can become entangled with the accelerator pedal, trapping it down.

What should drivers do if they find themselves in a sudden-acceleration incident?

Test-track drivers found the most effective strategy was to hit the brake pedal hard and hold it. Don’t start pumping or pounding on the brakes. That kills the vacuum assist and makes them less effective. Toyota advises stepping on the brake pedal with both feet, using firm and steady pressure.

After hitting the brakes, shift the transmission into neutral.

"We found that it is very hard to bring the car to a complete halt with just the brake pedal," said Rik Paul, automotive editor of Consumer Reports magazine. "That’s why it is important to shift into neutral."

After disengaging the engine, pull safely off the road, turn off the car and park it.

Is there some warning that lets me know my car has the problem?

Don’t expect a warning light on the dashboard. You might notice that the pedal is getting harder to depress over time or is sluggish when you ease off the gas. Some drivers might notice a rough or "chatter"-like feeling depressing the accelerator, according to Toyota.

If I think this is happening to my vehicle, what should I do?

Toyota is telling owners to drive the vehicle to the nearest safe location, shut off the engine and contact a Toyota dealer for assistance.

Which models are affected?

Toyota said it stopped sales of the following models and years:

— 2009 and 2010 RAV4

— 2009 and 2010 Corolla

— 2009 and 2010 Matrix

— 2005 to 2010 Avalon

— 2010 Highlander

— 2007 to 2010 Tundra

— 2008 to 2010 Sequoia

The company also stopped sales of certain 2007 to 2010 Camry sedans, depending on where those vehicles were manufactured; Camry owners should check with their dealer to determine whether their car is affected.

What is Toyota doing to fix the pedal issue?

The automaker says it is working on a fix but hasn’t disclosed the details or timing of the remedy. The company insists the problem is "rare and infrequent" and said dealers should deal with customers "on a case-by-case basis."

What should I do if

I have questions?

Call the Toyota Customer Experience Center at

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Savvis Chairman James E. Ousely has been appointed interim CEO at the company after Chief Executive Phil Koen stepped down on Friday, Savvis announced today.

Koen had been with Savvis, the Town and Country-based provider of Internet infrastructure services for corporations, since March 2006. His resignation was effective at the end of last week.

“In consultation with our board of directors, and knowing we have a very strong leadership team in place, this is an excellent time for me to move on to a new opportunity and to watch Savvis continue to grow and excel,” Koen said in a company news release.

He didn’t elaborate on the opportunity that led him to resign.

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Stocks closed sharply lower Thursday after Greece received another credit downgrade and the dollar rose on the U.S. central bank’s cautious comments.

The Dow Jones industrial average (INDU) fell 133 points, or 1.3%. Declines were broad based, with 28 of the 30 Dow components ending lower.

The S&P 500 index (SPX) lost 13 points, or 1.2%. The Nasdaq composite (COMP) slipped 27 points, or 1.2%.

The stock slump came as the dollar rebounded 1.3% against the euro, to its highest levels since September. The greenback was also up sharply on the pound and slightly higher against the yen.

The dollar jumped Thursday for two reasons, according to Craig Peckham, strategist at Jefferies & Co. First, he said, were the "continuing jitters" after the Federal Reserve on Wednesday left interest rates unchanged near 0%, saying weakness would remain for some time. Adding to those fears were reports that Greece has been downgraded by Standard and Poor’s.

S&P’s move came after health care companies complained that the country was behind on payments related to its public health system, and it follows Fitch Rating’s downgrade of Greece on Dec. 8.

Marc Chandler, chief foreign exchange strategist for Brown Brothers Harriman, said those downgrades and persistent worries about the economy are driving up the dollar — and these concerns could carry extra weight amid "very thin" volume ahead of the holidays.

"Santa Claus is giving a little present to people like me, who are dollar bulls," Chandler said.

Despite posting gains early in the session, stocks ended mixed Wednesday after the Fed’s interest rate announcement.

Financials take a hit: The slump slammed several bank shares, with Citigroup (C, Fortune 500) closing down 7.5%, American Express (AXP, Fortune 500) off 2% and JPMorgan Chase (JPM, Fortune 500) down 2.6%.

According to reports, the Treasury canceled plans to start selling off part of its 34% stake in Citi after its offering of 5.4 billion shares of common stock drew weak demand.

The offering was part of a plan Citi announced late Wednesday, in which the New York-based lender said it intends to raise $20.5 billion in the stock market in a plan to pay back its bailout funds.

"The market is struggling to absorb these staggering amounts of new issue," said Jefferies’ Peckham. "Marry that with the overriding theme of caution, and investors will be nervous."

Bank of America (BAC, Fortune 500) said late Wednesday it appointed senior executive Brian Moynihan as its new chief executive officer. Moynihan is currently the president of consumer and small business banking high risk personal loans. Exiting CEO Ken Lewis surprised the board of directors when he announced plans to retire in September. Shares were down 1.1%.

Economy: The Labor Department reported jobless claims rose unexpectedly last week, jumping by 7,000 to 480,000. Analysts predicted a decline to 465,000 new claims.

The November index of leading economic indicators, from the Conference Board, rose 0.9% — beating expectations of a 0.7% jump.

The Philadelphia Fed index, a regional read on manufacturing, far surpassed expectations. The reading jumped to 20.4 in December, the highest since April 2005, from 16.7 in November. Analysts expected a decline to 16.0.

In Washington, a Senate Banking committee voted 16-to-7 to confirm Ben Bernanke for another four-year term running the Federal Reserve.

Companies: Before the start of trading Thursday, package-delivery firm FedEx (FDX, Fortune 500) reported earnings of $1.10 per diluted share, down from $1.58 one year ago.

FedEx issued cautious guidance for the third quarter of 50 to 70 cents per diluted share. That fell short of forecasts of 84 cents per share, and the stock price lost 6.1%.

After the market close Thursday, Oracle (ORCL, Fortune 500) reported a profit of 39 cents a share versus 34 cents a year ago. The software company’s results beat analyst expectations of 36 cents per share.

Also after the bell, Nike (NKE, Fortune 500) reported a second-quarter profit of 76 cents a share, down from 80 cents a share. Analysts were looking for 71 cents a share.

Smartphone maker Palm (PALM) reported a wider-than-expected loss of 37 cents per share in its second fiscal quarter.

Palm’s rival, Blackberry maker Research in Motion (RIMM), earned $1.10 per share, up from 69 cents a year ago. RIM shares were up about 11% in after-hours trading.

World markets and commodities: Stocks in Asia ended mixed, with Tokyo’s Nikkei index falling 0.13% and Hong Kong’s Hang Seng index off 1.22%. European indexes settled lower.

Crude oil for January delivery fell 1 cent to settle at $72.65 a barrel, while gold for February delivery plunged $28.80 to end at $1,107.40 an ounce.

Bonds were higher, with the benchmark 10-year yield slipping to 3.49% from 3.59% late Wednesday.

Market breadth was negative. On the New York Stock Exchange, losers beat winners almost three to one on volume of 1.7 billion shares. On the Nasdaq, decliners topped advancers almost three to one on volume of 1.9 billion shares. 

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Stapleton and NorthSide, by the numbers

Stapleton NorthSide

Land area 7.5 sq. miles 2.3 sq. miles

Projected new homes 10,000 10,000

Projected new jobs 30,000 22,000

Tax increment financing $280 million (so far) $390 million (projected)

Construction start 2001 2010

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