This is MarketWatch news break money news from Wall Street to main street to your street I'm John --
And I'm in Kate's coming up on today's show men and women have much different views about the economy. I'm Adrian Mitchell will explain this Venus and Mars thing coming up dogs behaving badly have put the play.
Homeowners insurance claims. I'm Steve bored I'll explain coming up that sounds like our -- story and hand you have hard daily news nugget I do and it's about food again what kind of food.
Mac and --
Yeah.
Straight from the kitchen to the Mac and cheese. All that. After these headlines I'm -- Morgan in the MarketWatch radio network newsroom for Friday August 20. Food glorious food a couple of major producers post higher earnings for the latest quarter. Or -- earnings rose 11% as the company saw revenue continuing to rebound from last year's weak levels. Sales up 13% while volume jumped 16% on gains by or mills namesake chili and the mega -- X brand. Sales of refrigerated and food service products were not as robust. At hormel announced today that it would be raising prices on hams bacon and fresh pork. Jerry I'm smokers earnings rose 5% on stronger margins in the lower tax rate. Sales that the company's retail coffee business which includes the recently acquired Folgers brand rose 7% in -- as recent price hikes. But it -- retail consumer segment which includes its peanut butter and jelly brands sales fell 4%. Ford announced this morning it will launched 20 emission all electric vehicles the transit connect electric light commercial van. And the focus electric passenger car as soon as late this year and -- next generation hybrid electric vehicles and a plug in hybrid electric vehicle follow in 2012 to 2013. The auto maker says it will leverage the Internet and wireless technology to accelerate testing and refinement of the advanced lithium ion battery systems that will power the vehicles. -- director of electrification program and engineering says. Remote monitoring allows them to access real time data and make continuous improvement a degree of efficiency that would have been unthinkable just a few years ago. I -- Morgan for MarketWatch news break.
You've heard that women are from Venus and men are from Mars Lisa computer chairman and CEO of cities women -- post says the gender divide extends to how we feel about the economy.
And what's particularly important to note is that young women are very optimistic about the economic future the heart. That's in large measure due to the burgeoning she economy. Meaning that women are accounting for 51%. Of the wealth in this country.
And computer says they're optimism bodes well for recovery in the long term.
Women control about 80% of all Consumer Spending and so I think it's fair to state that the optimism among the young women that. A real bright spot when it comes to looking down the path at the economic recovery in the future.
Lisa compete -- had a city's women and -- For MarketWatch news break. I'm Adrian -- this is Steve war and with us is Mike Barry he's a spokesman for the Insurance Information Institute Mike thanks so much for being here with us. It appears that Fido and fluffy yard taking a bite out of insurance claims so Mike got. How big an impact of dog bites being on insurance claims.
Well this we certainly in our study found that it was a year to year increase in terms of picture payouts. Going to 412 million in 2009 as compared to. To fascinate we have 387 means it was. You know a single digit percentage increase nonetheless an increase in this is something that didn't insurers are concerned about because. That the numbers moving northward. And I understand that this is a record as well. Yes and it's -- there has been -- aggression it's been increasing over a period of years and and -- for -- this -- increased medical costs as well that this sizes. Settlements and judgments and in jury award to get -- for.
Why do you think then that we're seeing the increased though in the cost in the size of the settlements that have anything at all to do with the economy.
Well nick it's there they could do in fact be -- absences do with the economy but I think it also will adapt to do with it would. The totality of of factors that go into -- insurance claim this is this is also medical costs it's. Yeah they may in fact decent people who work or looking to. -- gain financially from from filing a lawsuit but I think by and large these are these are. Legitimate events that or litigated in and insurers. Under the terms of the homeowners insurance policy often have to pay out whatever losses were. Incur but it -- What is the average cost of dog -- claims that the average claim it is you know up to live close to did 2.5 thousand dollars and so this. That number's gonna include. You know the medical costs legal fees. But it's it's nearly 25000 dollars per. -- now what about the future do you expect this to continue going. Well you know again I it's it's hard to -- but 11 way that insurers have. Attempted to reduce their exposure is that some of them depending on the company won't won't. Right homeowners insurance policy if you or the owner of a specific region. You know it will -- Vary from company to company but not every homeowner. Homeowners insurer is going to insure you if you have. Up to read that that the insurer deemed to be. Too much of too much of a danger to -- to the paper. Should we assume we're talking about people's. Yeah I think -- can he could be he could mention that people I think Rottweiler. Also. It's oftentimes. It's gets put into that category like.
spokesman for the Insurance Information Institute thanks for being with us -- And time now for the daily news nugget and searches far and wide for these stories so what do you have for us today and.
John a lot more people have been eating at home during the recession as a way to save money so food makers. Are tweaking at some of their products for instance Kraft Kraft macaroni and cheese now comes in a more adult version it's got. -- crimes -- on an unknown now aimed at pleasing the adult palate. As an adult so comes with a liquor. No it does not -- later but it does come with bread crumbs and you have an option of actually making it sprinkling with bread crumbs and pretty -- for a more elegant looking Mac and cheese. Campbell Soup bus says it's been selling a lot more pasta sauce lately. And -- Orion it's Stephen mashed potatoes says. It is one of the most promising new product launches this year. It's potatoes in a microwave -- bag and basically want to do that and the -- decides what he or she wants to do with the mention that cream or butter or whatever you want.
And from what I've read I guess tying this is is feeling pretty good about that or write this stuff that they are all all the food makers are a lot of them have seen increase sales as we said because consumers are dining out as much they're trying to save money and stand.
a lot of times these are really comfort foods so they're just putting a new spin on -- classic.
All right we're out of here thanks and things get bad -- sorry man cannot turn to ignore it at a she's Ann -- on John Ward on this has been MarketWatch news break and we're out of here.
