Real estate research firm DataQuick says Tuesday that 18,567 notices of default were recorded by lenders from January to March — down more than 50 percent from the previous three months and 67 percent from the first quarter of 2012.

DataQuick President John Walsh says rising home prices, improving economy and new government laws to protect homeowners are having an impact but he says default notices could edge up later in the year.

DataQuick says the median sales price for a California home last quarter was $297,000, up 22.7 percent from a year ago.

Copyright 2013 The Associated Press.

DETROIT (AP) — Six automakers including Toyota, Honda and Nissan, are recalling nearly 3.4 million older-model vehicles worldwide in a massive effort to fix defective air bags made by the same parts company.

The recall mainly affects cars sold by Japanese automakers in North America, Europe and Japan. A small number of cars made by Germany’s BMW AG and General Motors Co. are also involved.

The passenger air bags made by Japan’s Takata Corp. have faulty inflators that don’t route gas into the air bags. Instead, the high-pressure gas can send plastic parts from the inflators flying into passenger compartments. Takata says no one has been hurt, but there have been six incidents of the air bags deploying improperly.

The recall, announced Thursday in Japan, is so large because many automakers use common parts on multiple models to cut costs and simplify manufacturing. This approach was pioneered by Japanese automakers.

Hardest hit is Toyota Motor Corp., which will have to inspect or fix 1.7 million vehicles worldwide, including about 580,000 in North America. Another 490,000 vehicle in Europe and 320,000 in Japan are affected. The models include the Corolla, Matrix, Sequoia, and Tundra, and the Lexus SC 430, manufactured from 2001 to 2003.

A series of recalls has tarnished Toyota’s reputation for sterling quality and reliability. The company endured a series of huge recalls in 2009 and 2010 for faulty braking, sticky gas pedals and defective floor mats.

But the latest recall affects other major automakers, including Toyota’s chief Japanese competitor. Honda Motor Co. is recalling 1.1 million vehicles worldwide, including about 680,000 in North America, 270,000 in Japan and 64,000 in Europe. Models include the Civic, CR-V and Odyssey from the 2001 to 2003 model years.

Also, Nissan Motor Co. is recalling 480,000 vehicles worldwide, including about 265,000 in the U.S. Models include the Nissan Maxima, Pathfinder and Sentra as well as the Infiniti FX and QX4, all from the 2001-2003 model years. Recalled models in Japan include the Cube, X-Trail, Maxima and Teana.

Mazda Motor Co. is also part of the recall. About 45,000 Mazda RX-8 and Mazda 6 cars are affected, including 4,000 in Japan. The company said recalls will be announced in North America, Europe, China and elsewhere.

At GM, only 55,000 Pontiac Vibe hatchbacks sold in the U.S. and Canada are being recalled. The 2003 models are nearly identical to the Toyota Matrix and were made at a California plant that was jointly run with Toyota.

BMW says it’s researching the problem but no numbers or models are available.

The problem happened because of two human errors during production. A worker forgot to turn on the switch for a system weeding out defective products, and parts were improperly stored, which exposed them to humidity, according to Honda spokeswoman Akemi Ando.

The recall is Takata’s largest since 1995, when nine automakers had to repair faulty front seat belts in 9 million cars sold from 1986 through 1991.

Alby Berman, spokesman for Takata in North America, acknowledged that the company’s image may be hurt. But he said Takata has produced millions of reliable air bags and should have enough capital with manufacturers to withstand the publicity.

“Our real motivation today is to really continue to support our customers in every way possible in moving through the process,” he said. “The joint objective is always to make sure the passengers, our customers’ customers, are safe.”

Takata stock plunged as much as 15 percent before closing down 9 percent in Tokyo. Toyota, Honda, Nissan and Mazda shares rallied in Tokyo, shrugging off the recall.

Copyright 2013 The Associated Press.

Now, an analyst says he’s learned that the set will go on sale late this year, for $1,500 to $2,500.

In a research note Wednesday, Brian White of Topeka Capital Markets says the “iTV” will be 60 inches on the diagonal, but could also come in 50- and 55-inch versions. Apple will also release a small “iRing” that fits on the viewer’s finger, allowing the user to control the screen by pointing, White says.

In addition, the set will come with tablet-like “mini iTVs” with 9.7-inch screens, the same as the full-size iPad, White said. The “iTV” will be able to send video to the smaller screens wirelessly around the house. The concept is similar to the way in which cable and satellite TV companies are starting to let their set-top boxes send video to iPads and other tablets.

White says his report is based on gleanings from visits with unnamed Chinese and Taiwanese companies that supply Apple with components.

Apple doesn’t comment on future products before its launch events, but late company co-founder Steve Jobs told biographer Walter Isaacson that he wanted to remake the TV and had figured out a way to do it. Last year, there were numerous analyst reports that said Apple would launch a TV set in 2012.

Apple does sell an “Apple TV,” but it’s small box that connects to a TV to display movies and shows from iTunes.

Apple shares rose $4.91, or 1.1 percent, to $434.70 in midday trading, as the tech-dominated Nasdaq index fell 0.3 percent. Apple’s stock is still close to the 52-week low of $419, which it hit a month ago.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

ELK GROVE (CBS13) – An empty Elk Grove shopping center is a reminder of how hard the city was hit during the recession. But city leaders say they have taken steps to bring back business, and it’s paying off.

“We are in a prime position to move, probably faster than any other city in the region,” Elk Grove Vice Mayor Steven Detrick said.

Building and business is booming again, according to city officials. Detrick says at least 18 more jobs have opened up at Apple.

“We’re seeing a lot of good signs and a lot of interest,” he said.

Large storefronts that used to be empty are filling up with other big name stores. DSW, Stein Mart and Fresh Market are all opening soon in the Laguna Crossroads Center off Bruceville Road and Elk Grove Boulevard.

“It’s nice having all the little stores and things around again. Too many things have closed,” said Elk Grove resident Susan Killian.

“We cut many of the residential and nonresidential fees to foster, bring more businesses to Elk Grove development,” said Detrick.

The vice mayor says many new homes are also being built thanks to more initiatives offered by the city.

“In 2009 was the low, about 200 homes were built in one year. Last year there was about 370 homes that were built, and we are already 10 percent above that for the first two months of the year,” he said.

Resident Dana Crumpacker says she’s even seeing the positive effects from more homes and stores popping up in town where she works at a local dental office.

“Things are picking up for us, and then in general that kind of means the economy is doing a little better too,” she said.

However, some residents say there are still problems and much more needs to be done before the city can bounce back.

“If you drive along Elk Grove Boulevard it’s another area that was really hard-hit — empty stores everywhere,” resident Mark Dendy said.

Detrick says there are still no definitive plans to start filling up the shopping center that never was. However, he says the more development they can do around the area, the faster they can spur that project along as well.

A new study from Appthority – a cellphone app analysis service – finds that personal information and files are more likely to leak from an iOS as opposed to the Android. There is a 10 percent difference between the two mobile giants regarding how much information is shared with advertisers.

Sixty percent of the iOS apps shared data with advertising and analytic companies, while 50 percent of Android apps revealed such information.

Appthority is a California-based tech company that seeks to increase customer interaction and familiarity with their devices.

The study uncovered data that found iOS apps were much leakier than their Android counterparts. In total, 60 percent of iOS apps gathered customer location data, 54 percent soaked up contact lists and 14 percent took information from customer calendars stored on the phone.

The study suggests that the difference could be a result of their demand from advertising companies. The advertisers that desire data from such apps will pay more for iOS information, which allows for unencrypted data collection.

A 2012 Pew Research Center study found that some 85 percent of American adults own a cell phone. Collection of news remains an important part of what people do on their mobile devices with 64 percent of tablet owners and 62 percent of smartphone owners say they use the devices for news at least weekly.

“The company is working as hard as ever, and we have some great stuff coming,” Cook told shareholders Wednesday before taking their questions during Apple’s annual meeting at its Cupertino, Calif., headquarters.

True to Apple’s secretive nature, Cook didn’t provide any further product details, although at one point he said the company is considering entering other categories besides its popular line of digital music players, smartphones and tablet computers.

There has been speculation that Apple is working on an Internet-connected watch or TV that will be introduced later this year. One shareholder at Wednesday’s meeting threw a new idea for Apple to ponder — a computerized bicycle. Cook, an avid bicyclist, chuckled at the suggestion, along with the rest of the audience.

Although there were more moments of levity, Wednesday’s meeting was less celebratory than the events in past years, when Apple’s stock price was soaring to the delight and enrichment of its shareholders.

Since hitting an all-time high of $705.07 five months ago, Apple’s stock has plunged by 37 percent. The decline has wiped out collective shareholder wealth totaling $240 billion. That amount exceeds the total market value of Microsoft Corp., which reigned as the most influential company in personal computing until Apple ushered in an era of mobile devices with the 2007 release of the iPhone and the 2010 introduction of the iPad.

Cook, who became CEO shortly before Apple co-founder Steve Jobs died in October 2011, has a huge incentive to get the company’s stock price strong again. The 1.1 million Apple shares he owns are worth about $300 million less than they were five months ago.

“I don’t like it, either,” Cook said of the downturn in Apple’s stock.

Apple Inc. hasn’t unveiled another trailblazing product since Cook took over, raising concerns about whether the company is losing the ingenuity that has set it apart from the rest of the technology pack.

Cook told shareholders the company’s commitment to innovation remains Apple’s “North Star” and “the beat of its heart.”

His pep talk evidently didn’t inspire many investors. Apple’s stock shed another $4.40 to close Wednesday at $444.57.

Shareholders still affirmed their confidence in Cook at the meeting. Preliminary results showed Cook was re-elected to Apple’s eight-member board of directors with 99 percent of the vote.

Wall Street may have been disappointed that Cook didn’t provide any further clarity on whether Apple might distribute some of its $137 billion in cash to shareholders in the form of a dividend increase or a special one-time payment.

Apple shareholder David Einhorn, who runs the Greenlight Capital hedge fund, turned Apple’s cash hoard into a hot topic in the weeks leading up the meeting. He sued to block a proposal that would have required shareholder approval for Apple to issue preferred stock. Einhorn argued that if approved, it would create a bureaucratic hurdle that could make it more cumbersome to return cash to shareholders. He wants Apple to issue preferred shares called “iPrefs” that would yield an annual dividend of 4 percent.

A potential showdown was averted last week when a federal judge ruled that Apple had improperly bundled several corporate governance issues, including the handling of preferred stock, in the same proposal. Apple withdrew the proposal from Wednesday’s agenda, to the chagrin of two shareholders who said they would have voted for it. Supporters of the measure included the California Public Employee Retirement System, or CalPERS, which urged Cook to do what’s best for Apple’s long-term interests.

“I would say the message is, ‘Keep calm and carry on,’” said Anne Simpson, who oversees corporate governance for CalPERS.

Einhorn, whose fund owns 1.3 million Apple shares, didn’t appear at Wednesday’s meeting.

In response to a question Wednesday, Cook said Einhorn’s resistance to a shareholder vote on preferred stock remains “a silly sideshow, regardless of how a judge ruled on it.” Cook remarks echoed the derisive description he used during an appearance at an investor conference earlier this month.

Cook also sounded a familiar refrain when he discussed Apple’s pile of cash. “This is a serious subject, and one we deliberate on as a board and a management team. We are in very, very active discussions on it,” Cook said.

Not long after Cook made similar remarks at last year’s annual meeting, Apple announced plans to start paying a quarterly dividend of $2.65 per share and to spend $10 billion buying back its stock in the fiscal year that began last October. Even though the dividend commitment costs Apple $10 billion annually, the company now has $39 billion more cash than it did year ago.

The prosperity underscores the ongoing popularity of Apple’s products.

Although Apple is selling more gadgets than ever before, the company’s profits and sales aren’t growing as robustly because of fiercer competition from a multitude of other smartphones and tablet computers, including ones costing less. Apple’s biggest headaches have been caused by Android, a mobile operating system that Internet search leader Google Inc. gives away to a long list of device makers led by Samsung Electronics Co.

There are now an estimated 600 million devices running on Android, giving it a lead over Apple.

Cook said Apple remains more interested in the quality of its products than the quantity sold.

“We want to make the best,” Cook said. “That’s why we are here.”

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)