Search gets in your face

After six months of tests with a select group, Facebook is rolling out a new search tool to the rest of the site's U.S. users, making it easier to find people, places, photos and interests in your social circle.

But the company's Graph Search could backfire because of privacy concerns sparked by the National Security Agency domestic surveillance scandal, analysts and social-media consultants said.

"It is every stalker's fantasy tool," said Max Wolff, senior analyst at Greencrest Capital. "It could actually alienate people. People are extra-sensitive about privacy because of the NSA scandal. So the average user could jack up their privacy settings and decide to disclose less on Facebook, which could hurt advertising."

Todd Van Hoosear, owner of Fresh Ground, a Cambridge social-media consulting firm, said he'd like to know what personal information of his might show up in a search done by someone he isn't friends with.

"I want to have full control over my personal information," Van Hoosear said. "I think that would go a long way toward addressing concerns about privacy."

As Graph Search rolls out more widely, people on Facebook will see a notice on their home page with a reminder about how to control what they share and with whom, said Facebook spokeswoman Kate Guarente. This follows a similar notice in December that highlighted new privacy tools to help people manage what they share on Facebook, Guarente said.

While there may be more work to be done in that area, Van Hoosear said, Facebook has made strides with other aspects of its search tool since the company announced it in January.

Graph Search has become faster and, like Google, more intuitive, offering suggestions in a pull-down menu as you type what you're looking for. Unlike Google, however, Graph Search mines data in your social circle, allowing you to search for restaurants that your friends like in Cambridge, or search for photos of your significant other before you met.

Facebook is also working on getting mobile Graph Search ready, Guarente said.

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China's June inflation rises to 2.7 percent

BEIJING — China's inflation rose in June but was well below the government's target in a sign of weak demand amid an economic slowdown.

Consumer prices rose 2.7 percent over a year earlier, up from May's 2.1 percent gain but below the 3.5 percent official target for the year, the government reported Tuesday. The June figure was driven by a 4.9 percent rise in food costs.

Pressure for prices to rise is relatively low in China because of weak demand, excess production capacity in many industries and lower costs for raw materials and components.

June prices were unchanged from May levels, and the uptick in the inflation rate was due to comparison with unusually low prices last year, according to Alaistair Chan of Moody's Analytics.

"The inflationary environment in China remains largely nonexistent," Chan said in a report. "Non-food inflation is low, reflecting a large output gap and lack of policy stimulus."

Economic growth slowed to 7.7 percent in the first quarter of this year from the previous quarter's 7.9 percent. Some forecasters say it could dip below 7 percent in coming quarters due to government efforts to cool a credit boom and weak demand for Chinese exports.

Communist leaders are trying to shift the basis of China's economic growth from exports and investment to domestic consumption. They have refrained from launching new stimulus spending even as economic growth drifted down.

Producer prices declined 2.7 percent in June compared with a year earlier, the National Bureau of Statistics reported. That was driven by an 8.5 percent fall in the price of goods from the mining industry and weaker costs for other industrial raw materials.

"This trend will continue through to year end, judging by the government's signals and the outlook for global growth," said Chan of Moody's.

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Holiday saves Nstar from taking heat

Despite five days of 90-plus degree heat in greater Boston, the lights — and air conditioning — stayed on.

An executive at Nstar said the combination of so many people celebrating Independence Day out of town, coupled with the shuttering of so many businesses during the four-day break helped prevent sweeping brownouts.

"Typically, electricity usage is higher Monday through Friday when there is a combination of commercial and residential load on the system," Nstar's Caroline Pretyman told the Herald in an email. "During this week's heat wave, usage was lower than it would have been because the holiday resulted in lower overall electricity usage by commercial and business customers."

Still, she noted, the past week's spiking temperatures really drove up demand.

"We saw the highest usage on Friday. Nstar's total usage was 89 percent of our all-time peak," Pretyman wrote.

Today, weather experts say, expected rain should give us something of a break.

But, they warn, the heat will likely come back tomorrow and Wednesday.

Even if that happens, it won't result in the region's first long-running heat wave.

Back in 1912, Bostonians suffered through a nine-day heat blast.

But data shows that historically, July has been getting hotter and hotter.

July 2011 was the 2nd hottest July on record, and July 2010 was the third.

In recent years, Bay Staters have become accustomed to widespread electrical brownouts, especially when temperatures soar.

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Temporary jobs becoming a permanent fixture in US

WASHINGTON — In one corner of the U.S. economy, hiring is exploding.

The downside for many people is: It's temporary work.

From Wal-Mart to General Motors to PepsiCo, companies are increasingly turning to temps and to a much larger universe of freelancers, contract workers and consultants. Combined, these workers number nearly 17 million people who have only tenuous ties to the companies that pay them — about 12 percent of everyone with a job.

Hiring is always healthy for an economy. Yet the rise in temp and contract work shows that many employers aren't willing to hire for the long run.

Temps typically receive low pay, few benefits and scant job security. That makes them less likely to spend freely, so temp jobs don't tend to boost the economy the way permanent jobs do.

An Associated Press survey of 37 economists has found that three-quarters thought the increased use of temps and contract workers represents a long-standing trend.

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Flying car on a roll

Fifteen months after it created a sensation at the New York International Auto Show, Terrafugia's "flying car" will make its first airshow appearance later this month, as the Woburn company works on a next-generation prototype.

The Transition is scheduled to fly and drive July 31 at the Experimental Aircraft Association AirVenture in Oshkosh, Wisc.

"We've had the vehicle on display there since 2006, and every year, people ask us when they can see it fly," said Richard Gersh, vice president of business development. "So we're very excited about the chance to demonstrate before a very large and enthusiastic crowd."

The company did a demonstration at Lawrence Municipal Airport last October for a select group of investors and prospective buyers, Gersh said, but AirVenture will be the Transition's first airshow.

The road-ready light sport aircraft still has a long way to go before it's ready for production, though.

In August 2012, Terrafugia said it had received more than 100 orders for the $279,000 aircraft, and the first delivery was expected this September.

But testing — and a new prototype that could be done by the end of this year — has pushed back that date to early 2015 or 2016, assuming the Transition wins certification from the Federal Aviation Administration and the National Highway Traffic Safety Administration.

"Based on what we've learned from testing, our engineers have called for some changes," Gersh said. "But the overall look of the vehicle will be very similar."

Robert Mann, an airline industry analyst and former airline industry executive, said the delays are indicative of the central problem Terrafugia faces.

"You see the difficulty in trying to be a compromise between a land vehicle and an aircraft," Mann said. "When you compromise, you tend to not do either very well."

But Jake Schultz, a technical analyst for Boeing and author of "A Drive in the Clouds: The Story of the Aerocar," tips his hat to how far the Transition has come.

"I ... look forward to what this team still has in their old kit bag," Schultz wrote in an email. "Their team has not sat on the sidelines and talked about what could be done some day. They are out working every day to actually make it happen. There have only been two flying cars that have been certified — the Aerocar and the Airphibian — so theirs will be the first in nearly 60 years."

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Japan set to restart reactors after nuclear crisis

TOKYO — Japan is moving a step closer to restarting nuclear reactors as utilities are set to ask for safety inspections at their idled reactors, the clearest sign of Japan's return to nuclear energy nearly two and a half years after the Fukushima disaster.

With all but two of its 50 reactors off line since the crisis, Japan has been without nuclear energy that once supplied about a third of its power.

Four of nine Japanese nuclear plant operators — supplying the regions of Hokkaido, Kansai, Shikoku and Kyushu — will apply for safety inspections by the Nuclear Regulation Authority for a total of 10 reactors at five plants Monday, when new safety requirements take effect. Kyushu Electric Power Co. is expected to apply for two more reactors at another plant later in the week.

The new standards are stricter than in the past and for the first time compulsory, and only reactors that pass the inspections will be allowed to reopen — possibly early next year. Each inspection could take several months, according to the watchdog, plus obtaining local consent may take another few weeks. Critics say the rules have loopholes, including grace periods for some safety equipment.

Hit by soaring gas and oil costs to run conventional power generation plants to make up for the shortfall, Japanese utility companies have desperately sought to put their reactors back online.

Nearly all the utilities owning nuclear power plants reported huge losses last fiscal year due to higher costs for fuel imports. Hokkaido Electric Power Co., for example, said it has been hit with additional daily fuel costs of 600 million yen ($6 million) to make up for three idled reactors. Nuclear operators have already requested rate hikes or plan to do so.

Prime Minister Shinzo Abe, who took office in December, scrapped a phase-out plan set by the previous government. Resumption of nuclear power plants is part of his ruling party's campaign platform in parliamentary elections in two weeks.

The new requirements specify for the first time that plants must take steps to guard against radiation leaks in the case of severe accidents, install emergency command centers and enact anti-terrorist measures. Operators are required to upgrade protection for tsunamis and earthquakes, as well as tornadoes and aviation accidents.

Safety was previously left up to the operators, relying on their self-interest in protecting their own investments as an incentive for implementing adequate measures. Tokyo Electric Power Co. came under fire for underestimating the risk of a tsunami and building a seawall that was less than half the height of the wave that hit the Fukushima Dai-ichi plant on March 11, 2011, knocking out power and cooling systems, which led to meltdowns in three of its reactors. About 160,000 evacuees still cannot return to their homes.

"We decided to apply because we're confident about the safety measures we've taken," said Shota Okada, a spokesman at Hokkaido Electric Power Co., filing for the triple-reactor Tomari plant. "We'll do everything to accommodate a smooth inspection process."

Hokkaido Electric hopes to restart them in time for the long, cold winter on the northern main island, said company president Katsuhiko Kawai recently.

Critics say the requirements still have loopholes that make things easier for operators, including a five-year grace period — given to reactors known as PWRs that come with larger containment chambers considered less likely to suffer from pressure buildup than ones like those ravaged at Fukushima — for installing some mandated new equipment and a full-fledged command center. This means about half of the 48 reactors that are PWRs, or pressurized water reactors, could operate without the safety features up to five years.

All 10 reactors set for inspections are PWRs, and filtered vents and command centers are reportedly still under way at many of them.

Opponents say the approvals are aimed at resuming reactor operations, although nearby communities lag in enacting needed emergency and evacuation procedures.

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Set loft-y goals in sunny JP unit

Carved out of a former carriage factory in Jamaica Plain, this authentic-looking loft has brick walls throughout and gets lots of light from a wall of front-facing windows.

Unit 9 at 172 Green St. is one of 14 units in a former brick carriage factory built by Hub entrepreneur Patrick Meehan in 1880 in the Brookside industrial area of Jamaica Plain, near the Green Street Orange Line T station.

The building was converted into condos in 1999-2000 in a way that preserved much of the original brick-and beam look, but with new windows and systems.

The 1,677-square-foot loft, which has a walled-off bedroom and a granite and cherrywood kitchen added in 2006, is on the market for $699,000.

The unit is dominated by one long room with areas for a living room, dining space and a home office. The 10-foot ceilings and columns feature original wood beams and the refinished floors are dark-stained maple.

This open area gets lots of light from 10 front-facing windows and three side windows, all with brick arches overhead.

The living room has a center gas fireplace fed by a metal duct, part of a network of ductwork across the ceiling.

A set of wood beams sets off a dining area with contemporary lighting overhead.

And there's another area in the large room currently used as a home office.

Off the dining area is the unit's large full bathroom with granite floors, a Corian-topped vanity and a one-piece Fiberglas shower.

Adjacent is a laundry/utility room with a stacked Kenmore washer and dryer. There's also a good amount of pantry and storage space in this room that also holds the unit's forced-hot-air-by-gas heating and an electric central air-conditioning system added in 2004.

Perpendicular to the home office area is the kitchen, redone in 2006. The kitchen has cherrywood cabinets, some with glass fronts, and absolute black granite counters, including an area with a breakfast bar. There's overhead and pendant lighting and refinished maple floors.

The owners also added stainless-steel appliances, including a high-end DCS gas stove, an LG refrigerator and a Bosch dishwasher.

Off the kitchen, the current owners built a wall with custom woodwork in 2006 to create a private 16-by-13-foot bedroom whose entrance features two glass doors with transom windows and track lights above. The bedroom has brick walls and two front-facing windows. There's also a double-door closet.

An added amenity is that the unit comes with a good-sized private storage room in the building's basement.

There's a common outdoor patio in the back of the building, where there's also parking. The unit comes with one deeded parking space.

Broker: Denise Smigielski of McCormack & Scanlan Real Estate at 617-905-2098

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Hyundai does luxury right

The 2013 Azera, which is slotted between Hyundai's Sonata and Genesis, is one of six sedans in the Korean automaker's 10-model lineup. I'm amazed that Hyundai offers that many models, but I shouldn't be surprised, Hyundais are everywhere you look these days. But with all those models, it's difficult to distinguish the Azera from the others.

The Azera's $33,000 base price puts the sedan in direct competition with the Ford Taurus, Nissan Maxima and Buick LaCrosse. Our test model included a technology package that hiked the price up to $37,000, which certainly doesn't make the Azera a bargain, but it remains competitive when you consider that the sedan is loaded with luxury features.

Dual-zone climate controls, heated seats throughout, and touch screen navigation with a back-up camera are all part of the Azera's standard equipment package. Power seat adjustments mounted near the door handles made it easy to see the controls and tweak the driver's seat positions. Interior space was ample with plenty of head and foot room in the backseat.

The Azera's $4,000 technology package included ventilated front seats that cooled the Azera's leather interior after it baked in the June sun. Rear and side window sunshades also helped keep the sedan cool. The shades also gave the Azera's two-tone camel and black interior an upscale feel. A panoramic tilt and slide sunroof opened up the roof for both front and backseat passengers. Xenon headlights and a powerful Infinity stereo rounded out the package. While these features were appreciated, if I were buying an Azera, I think I'd hold on to the extra $4,000.

Our test Azera was painted in a bronze metallic with plenty of chrome trim and was set on 19-inch wheels. A push-button-ignition turned over the sedan's 3.3 liter V6 engine that produced 293 horsepower. The engine and 6-speed transmission combined to return 23 mpg overall. The Azera's acceleration was smooth with a comfortable ride quality and had minimal road noise. While the Azera's front-wheel drive is welcome for winter driving in New England, it did hinder the sedan's handling.

If you're considering a Sonata, the Azera might be worth a look. The extra $10,000 gets you more room and a cabin loaded with luxury touches. Better performance and handling can be found with the rear-wheel-drive Genesis that offers a choice of a V6 or a V8 engine mated to an 8-speed automatic. The Genesis has a base price of $35,000.

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How to get to the right price

So you've found the perfect home and now comes the hard part — figuring out how much to offer to close the deal.

As a licensed real estate agent, I'm often asked for my opinion regarding pricing — whether it's as a buyer's agent to submit an offer on a property or as a seller's agent to come up with a fair market value for a listing price.

While most times my advice is heeded, occasionally it is not. In the case of being a buyer's agent, I have represented more than a few clients who have decided to start out negotiating a property with a low-ball offer or something that is more than 20 percent lower than the list price.

In a weak market or one that is more favorable to buyers — most markets across the country up until about six months ago where supply outpaced demand — this concept might have worked. However, as the market has changed considerably to favor sellers, low-ball offers (for the most part) are a thing of the past.

If you look at two-bedroom condominium sales in the past six months for the Back Bay, Beacon Hill and the South End, you'll see that no matter which neighborhood you include, the sale-to-list-price ratio is within 4 percent of the asking price. The sale-to-list-price ratio is the final sale price of a home divided by the last list price expressed as a percentage. If it's above 100 percent, the home sold for more than the list price. If it's less than 100 percent, the home sold for less than the list price.

Beacon Hill has been the tightest market overall in terms of inventory, however
a big reason behind the ratios not being as high as the South End, for example, is because of the lack of parking. While available parking is an issue throughout the city, on Beacon Hill it's even more of a problem.

Clearly, the South End neighborhood wins the overall supply and demand award. With tight inventory and very high demand, the pressure on prices has caused almost every price sector to sell for at or above the asking price; good for sellers, not so good for buyers.

If you're looking for a new home, I would first advise you to consult with your real estate agent to get a good understanding of the market you're considering. They will typically have access to this same information and will be able to analyze the data on your behalf to give you their best estimate as to how you should price an offer.

Remember this is their best judgment. The agent can only do so much, but that's why you've hired them, right? So take their advice and listen to what they tell you.

Charlie Abrahams is a licensed real estate agent 
in Boston who works 
with buyers and sellers
and can be reached at 
Bostonrealestate@
charlieabrahams.com.

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Asian markets up on Europe, US policy optimism

BANGKOK — Optimism that easy European and U.S. monetary policy will continue boosted Asian stock markets Friday as investors awaited a key American jobs report later in the day.

The prospect of continued monetary stimulus helped offset worries earlier in the week of a Chinese slowdown, European debt woes re-emerging and disruption of energy markets due to the military ouster of Egypt's president.

Hong Kong and Taiwanese stocks posted the biggest gains in morning trade and most other major indexes were in positive territory after the European Central Bank kept its policy interest rate at a record low to combat a persistent recession and its President Mario Draghi said the rate will remain there "for an extended period of time."

The European statement plus indications that the U.S. economy is growing — but probably not fast enough for the U.S. Federal Reserve to rush into tapering off its purchases of $85 billion in bonds each month to keep interest rates low — boosted markets that had been spooked in recent weeks at the prospect of such stimulus ending.

Tokyo's Nikkei 225 was up 1.3 percent to 14,194.39. Hong Kong's Hang Seng added 1.4 percent to 20,753.62 and Taipei's TAIEX was up 1.4 percent to 8,003.77. Sydney's S&P/ASX 200 edged up 0.7 percent to 4,829.10. Seoul's KOSPI was in negative territory, edging down 0.1 percent to 1,837.32.

The Asian gains followed a strong rally in Europe that was sparked by the ECB's statement and the Bank of England's announcement that speculation it would raise rates was unwarranted.

Britain's FTSE 100 index jumped 3.1 percent to close at 6,421.67 while Germany's DAX rose 2.1 percent to 7,994.31. France's CAC 40 gained 2.9 percent to 3,809.31. Wall Street was closed Thursday for the Independence Day holiday.

Investors were also waiting for a U.S. government jobs report due Friday. Earlier in the week, Wall Street rallied after ADP, a payrolls processor, said that businesses added more jobs last month than analysts had expected. If the U.S. government confirms that Friday, it offers hope that the American recovery is continuing.

The strength of the jobs report may also offer clues to what the Federal Reserve will do next.

Mike McCudden, head of derivatives at Interactive Investor, noted that while physical exchanges were closed in the U.S. on Thursday, futures were still trading, and they indicate Wednesday's rally could continue, with Dow Jones Industrial Index futures now trading above 15,000. The index closed at 14,988.50 Wednesday.

"Whether this can be sustained will clearly be reflected by what's happening on a global basis," he said in a market commentary. "The situation in Egypt remains hugely sensitive, whilst resurgent eurozone woes could knock sentiment."

The price of oil this week passed $100 per barrel due to events in the Middle East: Egypt's military overthrew Mohammed Morsi, the country's first democratically elected president, after he defied calls to resign despite the demands of millions of protesters.

Egypt is not an oil producer but its control of the Suez canal — one of the world's busiest shipping lanes, which links the Mediterranean with the Red Sea — gives it a crucial role in maintaining global energy supplies.

High energy costs act as a drag on economic growth, but oil has eased somewhat from its Wednesday highs and on Friday was down 18 cents to $101.06 in electronic trading on the New York Mercantile Exchange.

In currencies, the euro was down slightly at $1.2899. The dollar rose to 100.28 yen from 100.23 yen late Thursday.

____

Toby Sterling in Amsterdam contributed to this report.

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