Timeouts in AppleUSBEHCI - how can I find out what is causing this?

Generate a system report (in Lion: About this Mac-> More Info -> System Report, or do a Spotlight search for System Information if you allow Spotlight to index applications.)

Click on USB; then look for the bus ID mentioned. Under that bus, look through the Location IDs of each device; this field is "Addr" in the error logs. Note that location IDs are unique only across a bus, not the entire system.

Once you've identified the device, I would try swapping it to a new port, either with another device on the hub or to a blank port on said hub. If the errors stay with the device and not the port, my next step would be to plug the device into a direct port or swap cables. If you still have issues with the device, look for firmware updates to the device.

If after troubleshooting the hub is suspect - note that some people have found the power adapters that ship with some cheap USB hubs to be very poor, not capable of delivering anywhere near enough current. http://hackaday.com/2012/01/06/running-the-numbers-on-a-cheap-psu/

I would put the phone and garmin charger directly off the Mac's USB ports; among other things, your mac can supply twice as much current to your phone for charging. See https://support.apple.com/kb/ht4049

I can confirm my Mac's logs are filled with this error.

Take Garmin Ant+ off the Mac and the errors go away.

Don

I had same issue when I try to connect my ExternalHDD to my MacBookPro. That time my HDD is mounted but I it hangs for few seconds after fixed fraction of seconds interval.

So I had then monitored my console logs and ejected by HDD. As soon as it was ejected I noticed that

apcupsd[90]: Communications with UPS lost

above message on my logs. So I went to the Activity Monitor and force quit the "apcupsd" that process as its not necessary to keep it running (Its a APC UPS monitor process) then I had uninstalled that APC Ups app. Dramatically My External HDD starts working fine on reconnect.

Same issue here. Unplugging Garmin ANT+ fixed it.