Consumer Minute: Macy’s, car loans, wine

Macy’s
The Attleboro Sun Chronicle reports, Macy’s may be cutting thousands of jobs but it’s opening a district office in Attleboro for its “My Macy’s” campaign. The goal of the program is to select merchandise to sell based on regional tastes and preferences.

The district office will coordinate with 10 stores in the area.

Auto sales drop
The auto industry receives another blow: January sales were down dramatically from the same time last year.  Ford was off 40 percent and General Motors was down 38 percent.

Japanese auto makers are also suffering.  Nissan’s sales were down 34 percent and Toyota was down 30 percent from this time last year.

Some drivers who bought used cars and traded in their old vehicles may be surprised to learn they could still be on the hook for the old car’s loan.  This happens when dealers who take on the old loan, go out of business. 

In that situation, lenders have the option of going after the old owner or repossessing the vehicle from the new owner.  Experts advise consumers to pay off loans themselves or be certain they’re trading with a solvent car dealership

California Weather

The weather in California’s wine country has been extremely dry this year, in fact, the region is experiencing its most severe water shortage in decades. 

That’s not welcome news for wine makers who fear the lack of water, combined with freezing temperatures could hurt their harvest.  Last year, Napa Valley lost about a million dollars in crops because of the freeze.

The region is home to more than 300 wineries.