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Posts Tagged: Gaines
A mid-1930s truck on a Kern County highway. (Photo: Joseph Sohm, Shutterstock)
California’s already poor roads deteriorated to a whole new level of disrepair this winter. Sinkholes have popped up throughout the state and major roads have closed because of damage. To cite just a few major examples: Portions of Interstate 80 and Highways 50 and 49 were closed due to mudslides. Parts of Highway 1 remain closed because of storm damage. Numerous local roads were battered severely.
A professionally operated drone heads into the sunset. (Photo: Concept W, Shutterstock)
A squadron of drone bills that emerged from the Legislature wound up crashing on the governor’s desk. Gov. Brown vetoed three measures over the weekend that sought to block drones from flying over schools or prisons, and which would have allowed emergency personnel to shoot down a drone if it came into a fire zone.
World headquarters of Tesla Motors in Palo Alto. (Photo: Katherine Welles)
California lawmakers, who have fallen head over heels for Tesla Motors, once again are wooing their fickle sweetheart. Gov. Jerry Brown and two state senators – one a Republican, the other a Democrat — are working to entice Tesla to build its newest manufacturing facility in California, instead of going outside the state. It’s the latest in a long string of efforts in Sacramento that so far have managed to keep Tesla in the Golden State.


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foodpanda and its affiliated brand hellofood, a fast growing online food delivery marketplace, have received another $20 million in funding from a group of investors including Phenomen Ventures.
With the new investment, foodpanda is aiming to continue its global ambitions and roll out to over 40 markets by the end of Q1. The food delivery startup, which was founded in 2012 by the Berlin-based company builder Rocket Internet, is currently operating in four continents.
Last year, foodpanda expanded into 20 more countries and launched a mobile app for iOS and Android, which is currently one of the leading food delivery apps worldwide. Following its growth strategy, foodpanda expanded its services into eight more countries including Croatia, Bulgaria, Serbia, Slovenia, Kazakhstan, Azerbaijan, Tanzania and Uganda in early 2014.
The online food marketplace helps restaurants to increase delivery sales through online and mobile platforms, and provides them with constantly evolving technology and analytics. Customers can choose their favorite meal online, and foodpanda processes the order directly to the restaurant, which delivers the meal to the customer.
foodpanda is already partnered with over 22,000 restaurants worldwide. In 2013 foodpanda secured more than $20 million funding from Phenomen Ventures and Investment AB Kinnevik and $8 million from iMENA Holdings.
Ralf Wenzel, co-founder and Global Managing Director foodpanda/hellofood, said: “We are currently the most globally prominent online marketplace for food delivery, active and rising in Asia, Europe, Latin America, the Middle East and Africa. Having acquired the trust from experienced investors we will be able to continue our growth strategy to become a truly global internet brand. Further to this, we will push our expansion within our existing markets, to gain presence at every corner of every country we are active in.”
Check out FoodPanda’s cute commercial below, which targets hungry customers in Thailand:
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Only one package of the Valve Index kit is left available.
Two new heroes join the battle.
A VR experience that serves as the first ‘Half-Life’ game in 15 years.
Players will no longer be able to trade container keys between accounts.
A new ‘Half-Life’ game is rumored to be in the works.
The week-old title has already made an impact on gaming.
Should Twitch be worried??
The G-Man appears yet again.
Valve has finally announced pre-order sales of its hotly-anticipated Steam Machine. Considered
HTC continues its expansion from the smartphone market by teaming up with video game


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Hodl Hodl Crypto Exchange No Longer Provides Support For Litecoin
Representatives of the global crypto P2P exchange Hodl Hodl announced on the blog that the platform stops supporting the Litecoin (LTC) currency due to a low demand and will be focused only on bitcoin operations.
The exchange launched trading with Litecoin in 2017, mainly due to the similarity with the working mechanism of the first crypto network, as follows from the blog.
According to the developers, the management and support of operations with LTC requires too much of the company's resources, so it was decided to focus the platform on trading in bitcoin exclusively. Users can purchase and sell BTC worldwide, choosing any payment method using any currency, including crypto assets.
Hodl Hodl representatives reported that they do not intend to add other basic cryptocurrencies to the exchange. At the same time, users were advised to follow the updates on the blog, as the developers “have some thoughts” regarding expanding the listing.
At the end of 2018, the company managed to raise private investment, which was directed to the development of a peer-to-peer service called “Predictions” for making deals, the result of which depends on the outcome of a particular situation. Besides, Hodl Hodl launched an over-the-counter platform.
As previously reported, the price of the Litecoin cryptocurrency has increased by 100% over three months and amounts to a little more than $60, while it was traded at about $30 in early 2019.


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Burger King revealed last week that it experienced a 41 percent increase in its second-quarter profit, which the fast food giant is directly attributing to the immense popularity of its cheap, branded Xbox 360 games. Talk about striking a major blow for branded console games, eh?
For those not in the know, last year Burger King released three games for the Xbox 360 that were sold for $3.99 when customers purchased a BK value meal. The games, which included a racing game, a bumper car game, and a stealth game where players have to sneak up on unsuspecting hungry folks and feed them, feature Burger King characters and allow players to play against each other over the Xbox Live multiplayer service. (The picture to the left is from the somewhat creepy “Sneak King” game, where a player is about to stuff a much needed Whopper down an unsuspecting woman’s gullet)
Over the holiday season, more than 3.2 million of the games were sold, putting them on par with popular real video games like Gears of War (which has sold about 3 million). Iâ€™m going to go ahead and guess that, without even factoring the value meals that were sold in connection with the games, the game sales, which come out to about $13 million, more than make up for the gamesâ€™ development costs.
And who says advertising in games doesnâ€™t work?
Burger King didnâ€™t really elaborate on exactly why the games were so successful, but their availability at approximately one-fifteenth of the price of most Xbox 360 game titles, coupled with the multiplayer aspects (which drastically increase replay value on them), probably had something to do with it.Â


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It’s been a crazy time around the world and the games industry is not immune crises in the world and the much-needed changes transporting right now. As with so many events that were planned this week being postponed, another one has joined them. The Guerrilla Collective has now been postponed.
Guerrilla Collective Showcase Postponed
The newly announced event was scheduled for three days to showcase brand new titles from developers and publishers in the wake of E3’s cancellation due to the COVID-19 virus. The Guerrilla Collective will now take place on June 13th, 14th, and 15th.
The postponement was announced on the Collective’s official Twitter account citing the postponement in support of the movement transpiring throughout the County and the World and for justice in the wake of George Floyd’s death.
Sony postponed their highly anticipated PS5 Games Showcase this week in solidarity with the movement. Sony said in a statement that there are more importing voices needing to be heard right now. Various other companies have delayed releases as well. Fortnite: Chapter 2: Season 3 and Call of Duty Warzone Season 4 have also been delayed in support of the movement.


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Kim Kardashian adds strategic investor to her resume and pursues new, start-up businesses to fund.
The TV personality, entrepreneur and social media influencer teamed up with 16-year veteran of global investment firm Carlyle, Jay Sammons, to form private equity firm SKKY Partners. Kardashian and Sammons will serve as co-founders and co-managing partners, and Kris Jenner (Kardashian’s mother) will serve as a partner at the firm.
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SKKY Partners announced that it plans to make both controlling and minority investments in “growth-oriented, market-leading consumer and media companies”. Its target industries include consumer products, digital, e-commerce, consumer media and entertainment, hospitality and luxury.
In 2019, Kardashian founded Skims, an underwear and apparel business worth $3.2 billion, after the company raised $240 million. She also launched a skincare line called SKKN BY KIM.
“I am excited to launch SKKY Partners to invest in next-generation consumer brands, leverage my experience in building and launching global businesses, and partner with innovative companies to help them grow,” Kardashian said in a statement. “I look forward to working closely with Jay and our team to identify different investment opportunities and build the firm’s portfolio of world-class companies for our investors.”
Kardashian has hundreds of millions of followers on social media, including over 329 million on Instagram alone. She starred in the Hulu reality series “The Kardashians” along with other members of the famous family, and season 2 will premiere on September 22.
Sammons most recently served as Carlyle’s global head of consumer, media and retail. He will manage the day-to-day operations of SKKY Partners, including creating investment opportunities. Overseeing the development of her family’s multibillion-dollar business collection, Jenner will also partner with SKKY to identify and track investment opportunities.
“In partnership with Kim and Kris, I look forward to making SKKY the leading private equity firm that supports the next generation of innovative, disruptive consumer businesses and brands,” Sammons said in a statement. Said.
Kirkland & Ellis serves as legal counsel for SKKY Partners.
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Hacking has spread across the world and security experts from all over the world are showing concern over this unstoppable nefarious action. Symantec has released awful data in the website security threat reports regarding targeted attack, social media frauds, and data breaches that insist us to take prompt action against hacking. The data show a perturbing increase in sophisticated attack.
Data breach is a main concern for organizations and it can put confidential information at stake. Hackers can gain unauthorized access and view, steal or use individual information. The data could be personal health information, personally identifiable information, intellectual property, and other business secrets.
Symantec observed in its research that around 10M identities were exposed in 2014 year. Out of this, there are 49% data breaches happened due to attackers. Besides, the major concern was attacked on a retail POS system as a result; millions of credit card numbers were exposed in the previous year.
In the underground market, credit card details cost only $0.50 to $1 while basic identity and insurance information is valued among of $10 to $50 depends on data.
Targeted attacks are done to infiltrate the security environment of organizations and individuals. On initial base, attackers try to gain access to a computer or network, and then they find exploits in the network or system to harm the system in a drastic way. Such attacks are performed with the combination with APT attacks (Advanced Persistent Threats).
Symantec observed that sophisticated techniques have been applied in targeted attacks. There are major campaigns were seen named Dragonfly, Waterbug, and Turla, which have infected industrials, government embassies, and other targets. Watering hole and zero-day vulnerabilities proceed jointly and take advantage of backdoor opened on any computer that recently visited a malicious website with an active watering hole through which the attackers perform attacks.
The research says that it took 55 days on the average base to patch the zero-day vulnerability. Microsoft ActiveX control, Microsoft IE, Adobe Flash Player, and Microsoft windows were the main target of Zero-day exploits in 2014. Besides, the number of spear phishing campaigns has also increased in 2014. Manufacturing, services, finance, real estate & insurance industries were mostly targeted in the previous year.
Social Media Frauds:
The rise in messaging and dating app have opened new doors for hackers and numerous types of frauds are being seen on such platforms. Whether a user is on Facebook, Twitter, Instagram, or Pinterest, attackers are monitoring and always search for monetary benefits from different fake programs offering includes weight loss, gift card, celebrity news, lottery winning, click and Signup.
The major drawback on social media is the single password policy that helps hackers to easily crack all affiliated social accounts. Even phishing have played a vital role in spreading social media frauds. The email phishing rate has also surged in 2014 compared to a previous 2013 year. Most phishing swindles are distributed via phishing emails and URLs posted on social media sites. Most phishing emails were designed to grab professional account details like details of banking, Linkedin accounts, cloud storage, email accounts.
Email frauds generally involves a fake email sent to a person working in the financial department requesting for credit card payment or wire transfer. Such emails pretend to be coming from the superior department of the same organization and request a person to send money transfer details in attachment. However, corporate security systems can filter such malicious attachment but they are still lacking to implement such security system.
Ways to Set Up Secure Environment:
Symantec insists on getting SSL for a website that makes online information incomprehensible to third parties. It also increases the credibility of a business and ensures customers about their security of online information. There are a few recommendations to avoid threats entering into server and network system of organizations and individuals.
Go for Stronger SSL:
Compare to 2048- bit RSA key, ECC key is 64000 times stronger and it requires more computing power to run a brute force attack to crack the ECC algorithm. Even it gets site owners from “Slow site loading issue” because ECC keys require less processing power on the website and can handle extra connections and users.
Besides ECC algorithm, PFS (Perfect Forward Secrecy) is also an important feature that disables historical data and allows attackers only to decrypt the present encrypted data.
Symantec supports RSA, DSA, and ECC algorithm and offers many additional features besides common features with their SSL certificate products that other vendors do not offer.
For instance, Daily Website Malware Scan, Vulnerability Assessment, Seal-in-Search, ECC algorithm and world’s most popular trust badge “Norton Site Seal”.
It is advisable to encrypt all pages of the website rather than only login page because attackers can infiltrate any unencrypted web page and gain access to the site. To avoid this embarrassing situation, use Always-On SSL and encrypt the entire website. Always-On SSL removes the mixed content error, which occur sometime during browsing the site.
The good security habits can avoid many cyber disasters in the organization. The organization should have to arrange cyber security awareness program for their employees and give the proper security training to avoid unfamiliar attacks. You need to include a few points in the training like how to avoid malicious attachment, social media conduct, adoption of two-step authentication, different password policy, avoid piracy software.
Attackers have become ruthless and advanced to abuse the internet for personal gains. The above recommendations surely save your organizations from potential dangers. When it comes to business security, SSL should be considered in security policy because users are moving towards digital age and the website is a primary facet of any business that should be secured with SSL certificate to avoid unnecessary panic.


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Impax Asset Management LLC lifted its holdings in Michael Kors Holdings Ltd (NYSE:KORS) by 55.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,899 shares of the lifestyle brand’s stock after acquiring an additional 25,310 shares during the quarter. Impax Asset Management LLC’s holdings in Michael Kors were worth $4,722,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in KORS. Signet Financial Management LLC purchased a new stake in Michael Kors during the second quarter worth $140,000. Dynamic Technology Lab Private Ltd purchased a new stake in Michael Kors during the second quarter worth $200,000. Conning Inc. purchased a new stake in Michael Kors during the second quarter worth $204,000. Lido Advisors LLC purchased a new stake in Michael Kors during the first quarter worth $212,000. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in Michael Kors during the second quarter worth $261,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.
In other news, CEO John D. Idol sold 150,000 shares of the stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $67.99, for a total value of $10,198,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Kors sold 179,920 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $71.35, for a total transaction of $12,837,292.00. The disclosure for this sale can be found here. Insiders sold 479,920 shares of company stock valued at $34,021,792 over the last quarter. Company insiders own 6.00% of the company’s stock.
A number of analysts recently issued reports on KORS shares. Robert W. Baird set a $74.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Tuesday, May 29th. Canaccord Genuity set a $84.00 price objective on shares of Michael Kors and gave the company a “buy” rating in a report on Tuesday, May 29th. Citigroup decreased their price objective on shares of Michael Kors from $75.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, May 31st. Telsey Advisory Group decreased their price objective on shares of Michael Kors from $75.00 to $67.00 and set a “market perform” rating on the stock in a report on Thursday, May 31st. Finally, Deutsche Bank set a $83.00 price objective on shares of Michael Kors and gave the company a “buy” rating in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.33.
Shares of NYSE KORS opened at $73.36 on Tuesday. The stock has a market capitalization of $10.80 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.11. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. Michael Kors Holdings Ltd has a 52 week low of $42.00 and a 52 week high of $75.96.
Michael Kors (NYSE:KORS) last issued its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.37. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Michael Kors had a net margin of 13.14% and a return on equity of 39.01%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. equities research analysts predict that Michael Kors Holdings Ltd will post 5.01 EPS for the current fiscal year.
Michael Kors Profile
Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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The University of California at Berkeley and the government office complex for the EPA show others how easy it is to make foodservice environmentally friendly. By "greening" their business, these two operations are striving to make a big impact on the environment.
Call this A Tale of Two Foodservices. Foodservice programs for two very different institutions, located at opposite ends of the United States, are almost mind-melded by a singular goal: to make their own, however small, positive impact on the environment through best practices and education.
On the West Coast, in the Bay Area city of Berkeley, Calf., CalDining at the University of California at Berkeley has been garnering national headlines over the last year or so for its efforts to make at least dining services a "green" haven.
On the East Coast, on a much smaller scale, the foodservice department at the Environmental Protection Agency (EPA) Research Triangle Park, N.C., facility has striven quietly since 2001 to lead by example by promoting sustainability and environmental consciousness among its employees.
Both programs will be on display later this month at the Society for Foodservice Management's annual conference in Las Vegas. Shawn LaPean, director of CalDining; and Joe Williams, conference center manager for the EPA's Research Triangle Park facility, will comprise two-thirds of a panel discussion titled "Going, Going, Gone Green." John Burke, president of the Foodservice & Packaging Institute, is the other panelist.
LaPean and his staff at Berkeley have invested much time and money over the past three years to meet a self-imposed challenge: to make CalDining as "green" as possible "without raising meal prices or room and board costs," LaPean notes. "We are not doing this simply to make a statement," he adds. "Our changes have to be economically feasible, or we won't make them."
What CalDining has achieved thus far is impressive. The department has the first certified organic salad bar in the nation. It operates the only two "green" buildings on campus; Crossroads and Clark Kerr dining commons, both certified by the Bay Area Green Business Program. The department purchases environmentally friendly products: everything from containers made from post-consumer materials to chemically safe cleaning products, recycles a wide variety of materials, and ships more than 70 tons of food waste every year to a composting facility.
CalDining also works with student sustainability education coordinators (SSEC) to teach resident students about recycling, organic foods and other sustainability issues. The SSECs, organized through the Residence Life department, perform such tasks as measuring plate waste and rewarding students who turn in clean plates, and donating leftover food to a local homeless shelter.
"Our efforts certainly have raised our cachet and changed students' view of what we do" says LaPean. "It does provide a public relations perception of CalDining as beneficial to the campus."
The changeover has not been without its financial rewards, either. Overall, revenue has increased by 22%, while expenses have climbed by only 11%. "Our cost per meal continues to go down, 15 cents this year," LaPean notes.
"The number of optional meal plans sold has gone from 399 to 1,646. Customer satisfaction is up 27%, and CalDining has become the fifth most popular Web site at Berkeley," he adds. As a result, LaPean says, the bottom line has improved by 33%.
The greening of CalDining has raised the department's profile outside of the student population, as well. When LaPean came to Berkeley three years ago, full-service catering was virtually non-existent. By next fiscal year, CalDining will generate more than $1 million in catering sales.
"After our salad bar was certified organic (in April), we did $150,000 in catering in May" he explains.
More to do
Despite the list of accomplishments, LaPean says the department is not done. Among the CalDining goals: to have all four dining commons both green- and organic-certified by the fall of 2007; to expand the list of natural and organic products for use in the dining halls and for sale in retail outlets, and to arrange for the purchase of organic milk and cage-free eggs.
"Now, would this work in Missouri, or another state in the heartland? I don't know," he points out. "But it does for us. Going green creates green around the campus, and we will continue to pursue these environmental policies."
Across the country, in Research Triangle Park, N.C., the EPA has gone about its business much more quietly, but no less effectively. Of course, the entire campus, which covers some 133 acres and contains 1.2 million square feet of building space, was designed to be "green."
Marks of distinction: Among the campus' environmental hallmarks are...
- Buildings that are 40% more energy-efficient than standard buildings of the same size.
- 70% more efficient lighting.
- 100% capture and reuse of storm water runoff.
- The elimination of ozone-depleting chemicals in the campus's central cooling system.
- Buildings designed to last 100 years, as opposed to a typical life span of 35 to 50 years.
In the main, six-story office tower is the 400-seat Lakeside Cafe, where the campus's 2,000 employees can choose to eat breakfast and lunch. There, EPA's Williams notes, foodservice operator Aramark manages a number of programs that have helped earn the facility several honors.
"The most important thing for us in implementing all of our initiatives is the working relationship we have with Aramark," Williams explains. "Operationally, they make the program work."
In the Lakeside Cafe, where Aramark serves an average of 900 meals a day, all take-out products are made of recyclable, biodegradable or compostible ingredients. Most condiments, like ketchup and mustard, are dispensed from bulk containers, rather than single-serve packages.
The composting program is extensive, with pre-consumer waste including produce, meat scraps and coffee grounds and post-consumer waste including napkins, paper cups, disposable tableware and chicken bones. What can't be composted is recycled, not just from Lakeside but throughout the campus. Coffee dispensers feature organic, shade-grown varieties.
Taking the lead
"I would say we are ahead of most, if not all, corporate cafeterias," says Williams. "Even our c-stores focus on earth-friendly products. Most recently we added bottled water in completely recyclable containers."
Customer enthusiasm for environmental concerns at the EPA is mixed, he adds."There are some employees who probably don't care what we do as long as they get their food hot and fresh and at a good price," Williams explains. "Then there are others who believe we aren't doing enough. For example, sugar is still one product that we offer in single-serve packages. We're trying to balance issues of cost, convenience, labor, sanitation and health issues, so we haven't gone to putting out sugar in bulk. But some people still would prefer that we do that."
As much as the Lakeside Cafe has contributed to EPA's healthy footprint, Williams says that more can be done. He notes, for instance, that he would like to serve more organic and locally grown foods, once cost and quality issues can be addressed. He would like to increase the facility's composting rate. He also would like to see lower pricing for green products, to create a stronger supply-demand relationship with product manufacturers.
"We do monitor and evaluate how effective we are," Williams points out. "We're always looking to push the envelope, to take things to the next level."


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WEF Study shows Swiss Startups to be among the most innovative in the world.
BlueLion has introduced a program to apply its start-up methodology to corporate innovation projects. The largest Swiss Bank UBS is the first to enter into a partnership with BlueLion and the „UBS Y“-think tank team has been working alongside startup teams in the incubator since the early summer. Startupticker, January 5, 2015. The BlueLion Incubator in Zurich is a complete incubator for high-potential ICT and Clean Tech startup projects: a program in four phases over a maximum of three years. To fulfill its mission BlueLion has created a complete and methodical program to incubate promising startup companies. BlueLion is pioneering the incubation of startup companies and corporate innovation projects in the same location. UBS is also using this creative environment offered by BlueLion alongside startups. BlueLion offers corporate clients tailored programs ranging from sponsoring of the exchange with startup entrepreneurs to incubation of spin-off projects, to premium partnerships resulting in deep insights into the startup way, which spill back into the corporate culture. The „UBS Y“-think tank team based at the Bluelion Incubator is working …
By cooperating with startup companies, corporations can pursue more innovation projects at lower cost. BlueLion Incubatorfacilitates just that with its Corporate Innovation Partnering Program. Collaborations with startup companies can speed up corporate innovation, add flexibility, lower costs, and add a “go get it” culture for higher chances of success. First corporations are reaping the benefits of cooperating with startups. Cooperations between established companies and startups are becoming more commonplace, and the first best practices emerge. BlueLion is leading the way with a dedicated program to incubating corporate innovation projects, “the startup way”. Find more information about the Corporate Innovation Partnering program atBlueLion Incubator or in this cover story of the 2014 Swiss Venture Guide.
The leading Swiss business magazine BILANZ portrays the Swiss startup scene in the August 2014 issue. A concise and realistic assessment of the strengths and weaknesses of our industry.Gert Christen, CEO of BlueLion was one of the interviewees. The article mentions severalBlueLion Startups: Skybotix, Eaternity and Shrebo. And experts of the Swiss startup scene also gave their inputs, such as Jean-Pierre Vuilleumier of CTI Invest, Beat Schillig of IfJ,Nicolas Berg of Red Alpine, serial tech entrepreneur Dominik Grollimund, Florian Schweitzer of brains-to-venture as well as Dominique Maigret of Swisscom Ventures. Read the full article here: http://bit.ly/1rrFXv1
Interesting to learn about the City of New York’s economic development plans as a part of the delegation of the Mayor of Zurich. The scale of the projects is staggering! Great learning that day.
I had the opportunity to visit with the City of San Francisco as a part of a delegation from Zurich. Very impressive how San Francisco deals with tight budgets, constant growth and the need to specialize. There is much more to the management of this city than this impressive meeting table and door leading to the mayor’s office….. Zurich and San Francisco have been sister cities for more than 10 years and I am representing the startup community on the committee. And, interestingely, both San Francisco and New York city managements seem to have a thing with very massive wooden tables!


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|Grapegrower & Winemaker||Wine & Viticulture Journal||Wine Industry Directory||
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Queensland encourages States to ratify wine labelling treaty
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Queensland has joined South Australia in urging other States and Territories to amend their respective wine labelling laws to enable exporters to use a single label for both local and international markets. Following the lead of the South Australian Government in January, the Queensland Government has made its laws consistent with the World Wine Trade Group (WWTG) labelling agreement which Australia signed in January last year. Fellow signatories include the US, Canada, New Zealand, Chile, Argentina and South Africa. The treaty standardises the presentation of certain information on wine labels, such as product designation, content volume, percentage of alcohol and country of origin, meaning when a product is sold in several markets, winemakers and exporters will no longer have to attach different front labels for each destination. Queensland Attorney-General Kerry Shine has told State Parliament that labelling costs represent a major hurdle for many local wine producers who are currently required to print different labels for export and domestic wine markets. "This duplication is a waste of money that could be invested in developing the international competitiveness of Australian wines," Mr Shine said. "It is estimated that this move will save the Australian wine industry $25 million a year in labelling costs." He said Australia could not ratify the WWTG's agreement until all States and Territories made their laws consistent with the new requirements. "It is imperative we speed up this process so that savings can flow on to wine producers. The proposed new regulation will allow producers to state anywhere on the bottle how much wine it contains, except on the top or base, as long as it can be viewed together with the country of origin, alcohol content and product description. This represents a small change in the labelling laws but it could make a significant difference to the bottom line of the wine industry." Mr Shine said progress on the new labelling regulations would be reported to next week's meeting of the Council of Australian Governments in Canberra. "Australian wine producers hold an 8% volume share of the export market and export to over 104 countries. Maintaining strong focus on developing exports will be vital to the continued viability of the industry. "Using a flexible internationally recognised labelling standard will not only save the industry money but will lead to regional growth and help smaller wineries break into the export market," Mr Shine said.


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As GM Prepares for Big Reveal, the Home of the Corvette is Buzzing About New Stingray
Like kids waiting for Christmas morning, Corvette enthusiasts are on the edge of their seats for a big reveal on Thursday.
That’s when General Motors will unveil the next generation of the iconic sports car. Described as a technical tour-de-force, the long-hyped C8 is generating plenty of buzz around the home of the Corvette.
I recently went along for the ride as a sleek 2017 red Corvette Stingray did laps at the National Corvette Museum’s Motorsports Park in Bowling Green. It won’t be long before a newer, shinier, and more powerful toy hits the asphalt.
This C7 model will eventually take a backseat to the next generation Corvette, the C8. Mitch Wright is a retired professional race car driver who now manages the motorsports park. As he took me for a spin, Wright said he can’t wait to get behind the wheel of a C8.
“The assumption is, with the plant across the highway, that we’ve seen the car here and know all about it, but we’re just as excited to see it as everybody else."
In April, General Motors CEO Mary Barra visited the Bowling Green Corvette Assembly Plant to announce the factory will build the new mid-engine Corvette and increase its workforce to meet demand for the eighth generation of the sports car.
“I am exceptionally pleased to announce we will be adding a second shift and more than 400 hourly jobs at Bowling Green to support the next generation of the Corvette or as we like to call it, the C8, and increase the plant’s workforce to more than 1,300 employees," Barra said to much applause from the hourly workers on hand for the announcement.
To prepare for the C8, the Bowling Green plant received a major overhaul that included increased engine capacity, as well as a new paint and body shop. According to Barra, GM has invested more than $900 million in the Corvette Assembly Plant since 2011.
"Clearly, it’s great for the plant. It provides more opportunity, but I also think it provides for a strong local economy, as well," Barra told WKU Public Radio following the announcement. "I actually think this next generation vehicle will win more customers into the Corvette family, so we’re super excited about that.”
The Bowling Green plant currently builds the Corvette Stingray, Z06, Grandsport, and ZR1. It’s estimated the plant will roll out about 10,000 C8s in the first year of production.
For now, the car is under wraps, literally. A camouflaged C8 was spotted cruising around New York City in May as the automaker’s CEO announced the C8’s debut at a charity event.
If you’re looking for details about the car, you might have better luck getting the CIA to talk. No one at the plant is sharing any details until after the car’s reveal on Thursday. It’s unknown when production will begin or when the cars will hit dealer showrooms.
Secrecy around the next generation Corvette has had the rumor mill working overtime. What we do know is that it will debut as a Stingray and be GM’s first-ever mid-engine version of the Corvette. Professional driver Andy Pilgrim works as a consultant to the National Corvette Museum and Motorsports Park. He says the new configuration is all about physics.
“If you can lower the center of gravity of the car and more centralize the weight toward the middle of the vehicle, overall, you’re going to get more performance out of that vehicle," explained Pilgrim.
The C8 is also expected to have a shorter hood and expanded windshield for better visibility.
One automotive pundit described the C8 as the most radical engineering change since the Corvette debuted in 1953. You can see it for yourself if you’re willing to stay up. The car will be unveiled on Thursday in California at 9:30 p.m. central time. The big reveal will be streamed live by the National Corvette Museum.


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By Caitlin Nish and Corrie Driebusch
Stocks to watch this morning include AK Steel, Costco and more.
AK Steel said it has formed joint venture with an iron-ore company and bought a separate provider of metallurgical coal, boosting the steelmaker’s holdings in its two main input materials at a time of rising commodity costs.
Clarcor on Tuesday said Chief Executive Norm Johnson will step down from the filter and packaging company’s day-to-day operations, clearing the way for Chief Operating Officer Christopher L. Conway to take the helm.
Costco Wholesale’s fiscal fourth-quarter earnings rose better-than-expected 11% as the retailer continued to post sales and membership fee growth.


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There are certain things in this world we will love until the day they plant us in the cold, hard clay. B-Movies, cold beer and a good chase scene all make the cut, as does spine-shivering rock and roll. Jack White has managed to combine at least three of those four in the latest trailer for his ...
Mr. Norm's Super Cuda – Click above for high-res image galleryMight a fishy new muscle car be bound for U.S. market consumption? According to USA Today, Ralph Gilles, the man who ably heads Chrysler's Dodge brand, indicated to a crowd of Mopar-obsessed fans at the 2010 SEMA Show that a ...
Click above for more shots of the HXC Cuda conversionWhen Chrysler gave its Plymouth brand the axe, many storied name-plates were orphaned -- none of them more legendary than the Hemi 'Cuda. As the Mopar brand began teasing the world with its pony car revival, otherwise known as the Dodge ...


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Sonepar USA topped $1 billion in sales in just six years, but Richard Worthy, the company’s president and CEO, says its current growth strategy could propel the distributorship past the $4 billion mark in the future.
In the upcoming issue of Electrical Wholesaling magazine, Worthy said the Berwyn, Pa.-based Sonepar USA could eventually have 10 regional businesses, each with annual sales of $300 million to $400 million. “That’s probably where this company maxes out,” he says. “That $4
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- Simon Property Group saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter.
- CEO David Simon said that retail sales at the company's properties during June were comparable to June 2019 levels, and up 80% from a year earlier.
- The biggest U.S. mall owner is hoping the improving trends coax businesses to sign new leases.
Simon Property Group saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter, as Americans shopped for clothes, shoes and other items.
Simon Property Chief Executive David Simon told analysts Monday that retail sales at its properties in June were comparable to June 2019 levels, and up 80% from a year earlier. Parts of the United States saw sales higher than 2019 levels, he added.
The biggest U.S. mall owner is hoping the improving trends coax businesses to sign new leases. The company has been looking to fill spaces that were vacated by brands that either went bankrupt or had to cull stores.
For the three-month period ended June 30, Simon Property's occupancy rate was 91.8%, down from 92.9% a year ago, and from 94.4% two years earlier.
"We continue to see demand for space across our portfolio, from healthy local, regional and national tenants, entrepreneurs, restaurateurs and mixed-use demand ... it's increasing day by day," David Simon said.
"We still have a hole to dig out of because of the bankruptcies that we had to confront during the pandemic," he added. "But I'm very pleased with the activity."
Simon shares were up nearly 3% in extended trading. The stock has risen more than 48% year to date. Simon Property Group has a market capitalization of $41.5 billion.
Retail industry watchers are expecting a strong back-to-school season, as children look forward to returning to classrooms and adults head back to the office. In recent days, retailers from Kohl's to Home Depot have been reimposing mask mandates for workers, hoping to contain a recent rise in Covid-19 cases. A highly contagious delta variant has been spreading, largely among unvaccinated Americans.
When asked about the delta variant, David Simon said the company will not be mandating vaccines for shoppers and tenants, but it will continue to encourage them.
"We have not seen in an enclosed mall an uptick in Covid cases," he said. "We need to mask up. We're going to mask up. And I think the consumer is ... moving forward in that environment right now."


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The risk that a trade war will impact the global economy has clearly increased over recent months. The first U.S. salvos, followed by the retaliatory measures of other countries, have caused tensions to rise. As things currently stand, the situation is still contained but unclear, and increased tariff barriers remain bilateral and with the United States. Nonetheless, it begs the question: Could a real trade war put an end to the current global economic growth cycle?
In the last year, protectionist decisions by President Donald Trump had no impact on global trade. In fact, in 2017, real GDP grew rapidly in the United States, the eurozone and, to a lesser degree, China. This improvement in global economic conditions increased the volume of trade worldwide. However, the pace has visibly slowed since last winter. Annual growth in global trade was down to around 3.5% in the spring, well below the 5% recorded before January. The fear now is that the increasing number of protectionist measures implemented by the United States and retaliatory measures by other countries is increasingly slowing both global output and international trade.
The Economic Effects of a Trade War
Most of the analyses point in the same direction: a widespread lowering of tariffs would damage the global economy. Also worth noting is that, according to most estimates, tariff hikes would not necessarily lead to a global recession. International trade is linked mostly to the movement of goods, while economies are increasingly dedicated to services. This situation may limit the damage. However, given the state of the current economic cycle and, in particular, its length, a trade war could still make things much, much worse. It could undermine household and business confidence and restrict the volume of international trade enough to cause the current growth cycle to come to a complete stop. There is also the fear that the economic models do not take the complexity of value chains fully into account, thereby minimizing the consequences of complications at the border. Furthermore, Interactions with the financial markets could give rise to some ugly surprises.
A Trade War and the Financial Markets
A widespread escalation of tariffs and raised trade barriers would clearly have consequences for the financial markets, starting with the currencies that react immediately to the ups and downs of trade balances and related economic growth. As a result, the currency market could become more volatile. The economic models suggest that implementing protectionist measures leads to an increase in the value of a country’s currency. In addition, other countries may want to retaliate by allowing their own currency to depreciate (currency war). However, the inflation caused by the higher cost of imported goods could lead to higher interest rates, a factor that causes the value of a currency to rise. In the case of the United States, a trade war that threatens global economic growth could result in a safe haven effect, which, in turn, would increase the value of the U.S. dollar.
As we just saw, interest rates would also react immediately to an even greater escalation of trade tensions. Nevertheless, the net effect is less clear, since several factors could offset each other. On the one hand, the diminished prospects for growth could prompt real interest rates to remain low. On the other hand, the impact of protectionist measures on prices are expected to feed inflation expectations. Inflationary pressure may also motivate the central banks to keep their rates higher than economic growth or job creation figures would require. Some commentators, such as Alan Greenspan, the former Chair of the Federal Reserve, see in all this the possibility of a return to stagflation. A trade war could also open another front: foreign financing of the huge U.S. federal debt, especially if weaker economic growth inflates deficits even more. In addition, some countries could limit the movement of capital.
Meanwhile, stock markets have clearly been jittery since the Trump administration announced its first protectionist measures in January. All the news suggesting an escalation of the trade conflict between China and the United States has also had generally negative repercussions on the main stock market indexes in the U.S. and elsewhere. Moreover, Chinese stocks were already officially in a bear market. As we have seen this summer, other factors can still lead the stock market to appreciate. However, raising trade barriers can only hurt the profitability of big corporations, which generally operate in more than one country. Competitiveness and productivity would suffer from the complications imposed on global value chains. The importance of the export sector for the Canadian economy is such that the Toronto stock market is particularly sensitive to the ups and downs of international trade. A major slowing of the international economy could also undermine raw material prices.


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The plant-based burger joint in the US city of Atlanta has become a sensation in the city and on social media.
Having just celebrated its first birthday (for which it handed out free fruit and vegetables), the Slutty Vegan has 252,000 followers on Instagram and hundreds of people queue up for hours every day in order to try the dishes – which includes the One Night Stand, Ménage à Trois and Sloppy Toppy burgers.
The One Night Stand is an Impossible Burger patty (which bleeds) topped with vegan bacon, vegan cheese, caramelised onions, lettuce, tomato, and slutty vegan sauce on a vegan Hawaiian bun, while the Ménage à Trois includes vegan shrimp.
Everything comes with a side of slutty fries.
Slutty Vegan has nothing to do with sex, founder Pinky Cole told CNN.
Being sluttified means to have the ultimate euphoric experience from eating a plant-based burger.
But its bigger than just the food, its about creating a cultural experience for people to help them to re-imagine food.
Cole opened the restaurant to bring a unique source of accessible, tasty vegan food to the black community in the rapidly-gentrifying neighborhood west of downtown Atlanta – where barbecued meat is popular.
The Slutty Vegan and Cole have positioned themselves at the heart of the black vegan movement in the US, with many black celebrities – including Tiffany Haddish, Tyler Perry, and Snoop Dogg – becoming sluttified patrons.


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SALEM, Va. – Mack Trucks announced late last month that it is bringing a new bulldog into the market with the creation of the Mack MD Series of medium-duty trucks. To produce this new product line, the company has also opened a new facility in Salem, Virginia.
Mack has made a $13 million investment to establish its Roanoke Valley Operations (RVO) facility, which is being used for equipment, tooling and building enhancements in the 280,000-square-feet of the facility dedicated to the assembly of this new product line. Virginia Gov. Ralph Northam also approved a $700,000 grant from the Commonwealth’s Opportunity Fund for the project.
“The reason that companies want to come to places like Roanoke County is because we have one of the most talented workforces,” Northam said during an unveiling event on Jan. 30. “We are truly blessed to have great colleges and universities and community colleges that are very nimble and able to train individuals that can go into these jobs.”
The Mack MD6, a Class 6 model, has a gross vehicle weight rating (GVWR) of 25,995 pounds, and the MD7, a Class 7 model, has a GVWR of 33,000 pounds. Both models are exempt from the 12 percent federal excise tax (FET). The MD6 model does not require a CDL to operate for non-hazardous payloads. Production will begin in July.
“We could not be more pleased and honored to be in this great part of the commonwealth of Virginia,” said Martin Weissburg, Mack Trucks president. “This facility will carry on the Mack tradition of 120 years.”
The opening of the new facility will create 250 new jobs in the area when all available positions are staffed, according to Jonathan Randall, senior vice president of North American sales and marketing for Mack. Randall added that the opening of this new facility will not have any impact on the operations at any other Mack facilities, including the Lehigh Valley Operations facility located outside of Allentown, Pennsylvania, which is where Mack’s heavy-duty, Class 8 trucks are produced.
On January 9, Mack announced that 305 employees would be laid off at LVO, which represented a 13% reduction in force at the plant. Those cuts were expected to be made by the end of February and were expected as Mack said late last year that it would need to slow production to cope with reduced demand. Mack expects the North American truck market to be down nearly 30% this year.
“It is unfortunate that we had to take the steps that we had to take in responding to the Class 8 market,” Randall said. “We continue to make and will make significant investments into LVO and that is where we will absolutely continue to build our Class 8 vehicles. When we open the positions here, any of those employees are certainly welcome to apply.”
The Mack MD series lineup will, however, draw inspiration from the Class 8 vehicles that are produced at LVO. Roy Horton, director of product strategy for Mack, said that some of the familiar features from the Mack Anthem helped to create unique selling points for the new product line.
“We’ve got the same bold, unique look that we have without heavy-duty product for our medium-duty product,” Horton said.
In the interior of the MD Series trucks, Horton said features such as a wraparound dash, ergonomic controls telescopic and tilt steering columns as well as a flat-bottom steering wheel for “a little more room” will transition from the heavy-duty world into the medium-duty market.
There were also many small details that Mack duplicated from its heavy-duty line including power windows and locks, optional two-passenger bench seating with storage underneath as well as door panels and other panels in the cab, which makes the cab very quiet, Horton added. Other features resembling those of the heavy-duty models include an air-suspended cab and chassis components, such as 120,000 psi frame rails.
The launch of the new product is a step toward ensuring that Mack can provide a full spectrum of offerings to its current customers. Mack exited with medium-duty market in 2002 and has since had a gap in its “family portrait.”
“We have a lot of customers today who run our Class 8 product but have medium-duty needs,” Randall said. “They really want to work with one OEM and have a single-source provider. It is an expansion of our ability to meet the market demand.”
Randall said that the market for medium-duty trucks typically remains steady at between 90,000 to 100,000 trucks each year in the U.S. and Canada with three fourths of them being Class 6 models, which allows Mack to enter the pick-up-and-delivery portion of the market.
On the hood of these medium-duty trucks, the iconic bulldog will be there but it won’t be the gold ornaments that are seen on the heavy duty-models. Instead, it will be silver, which means that a vendor product is utilized for the transmission, axles or engine instead of every component being proprietary to Mack.
“For those medium-duty components that don’t currently exist in our product portfolio, we’ve partnered with several suppliers that are already in the industry for engines, transmissions and axles and all along the way, we’ve created unique selling points to help differentiate us from the market that we are reentering,” Horton said.
Randall added that even though the bulldog is silver, “it is still a Mack and application excellence is still our guiding principle.”
Original story below: Posted January 30, 2020
ROANOKE VALLEY, Va. – Mack Trucks launched the new Mack MD Series of medium-duty trucks, and will begin serial production in July 2020 at its new manufacturing facility in Virginia.
Mack has made a $13 million investment to establish its Roanoke Valley Operations, a new manufacturing facility in the Roanoke Valley, Virginia, for the production of the Mack MD Series. The project will result in the creation of 250 new jobs.
“Mack Trucks is very proud to make this investment and to now offer a full lineup of Class 6 to Class 8 commercial vehicles, serving virtually every segment of the market,” said Martin Weissburg, Mack Trucks president. “With this investment, Mack is well-positioned for future success, and we’re taking orders for the new truck beginning today.”
Virginia Gov. Ralph Northam announced the $13 million investment during an event with state and local officials at the new facility. Gov. Northam approved a $700,000 grant from the Commonwealth’s Opportunity Fund for the project.
Mack’s investment is being used for equipment, tooling and building enhancements in the 280,000-square-feet of the facility dedicated to the assembly of Mack medium-duty vehicles.
The Mack MD6, a Class 6 model, has a Gross Vehicle Weight Rating (GVWR) of 25,995 pounds, and the MD7, a Class 7 model, has a GVWR of 33,000 pounds. Both models are exempt from the 12 percent Federal Excise Tax (FET).
The addition of this line up trucks allows Mack to further enhance its credibility as an original equipment maker (OEM) as it now offers a full line up of Class 6, 7 and 8 trucks. The new Class 7 truck builds on Mack’s effort to boost its image with the introduction of the Class 8 Pinnacle model in 2014, the Mack Anthem Class 8 model in late 2017.
The MD6 model does not require a Commercial Driver’s License (CDL) to operate for non-hazardous payloads.
“Already providing our customers a full product lineup of Class 8 vehicles, which includes straight trucks and cabover platforms, the Mack MD Series expands even further the solutions available to our customers,” said Jonathan Randall, Mack Trucks senior vice president of North American sales and marketing. “Now that we have a full lineup of Class 6 to Class 8 vehicles, customers desiring Mack’s distinctive durability and reliability now have an option for lighter GVWR configurations.”
The Mack MD Series is an all-new model range built specifically for medium-duty applications. Available in 4×2 configurations, the MD6 and MD7 models feature a sharp wheel cut for enhanced maneuverability for tough urban settings.
Wendy Miller holds a bachelor’s degree in journalism and a master’s degree in strategic communications. Wendy has been a journalist and editor for nearly 15 years and has specialized in niche publications for the past eight years. Wendy draws her love for the trucking industry from growing up as a trucker’s daughter.


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Products you viewed on one site are following you around the Web as more companies embrace targeted marketing techniques.
How to find the best prices on tickets for the Grand Slam tennis tournament.
And why I hate them even more now.
Retailers slash prices, beef up sales as consumers cut back.
New sites let customers pick what's available and what gets discounted.
The growing popularity of group buying has drawn a shady element.
Online deal sites are sweetening deals on everything from gym socks to dorm fridges.
VIDEO ON MSN MONEY
Copyright © 2014 Microsoft. All rights reserved.
The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
Casual dining restaurant chains have jumped on the happy hour train with deals on drinks and snacks -- maybe enough for dinner.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'


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The beverage industry in Georgia witnessed a sharp decline in volume by 9.6% during Q4 2020, mainly owing to declines in hot drinks, soft drinks and alcoholic drinks, reveals GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Georgia Beverages Consumption Trends and Forecasts Tracker, Q4 2020 (Dairy and Soy Drinks, Alcoholic Drinks, Soft Drinks and Hot Drinks)’ reveals that hot drinks, the largest sector in the beverages industry, saw volumes fall by 9.6%, driven down by falling volumes across hot coffee, hot tea, and other hot drinks categories.
Volumes in the soft drinks sector also declined by 9% in Q4 2020 compared to Q4 2019 with strong declines in carbonates, iced/RTD tea, and nectars categories.
Tanumoy Chattopadhyay, Consumer Analyst at GlobalData, says: “Healthy gains in squash/syrups and flavored water categories could not help offset losses in the overall soft drink sector.”
Dairy Drinks was the only sector in the beverages industry to post a gain in volume, led by growth in both fermented and white milk categories in the quarter.
Mr. Chattopadhyay concludes: “The much-anticipated COVID-19 vaccine plan kick-off is expected to bring some resurgence in economic activity, thus benefiting the country’s economy as well as consumption of beverages.”
The post Georgia’s beverage industry volume declines sharply by 9.6% during Q4 2020, finds GlobalData appeared first on GlobalData.


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SAN LUIS, Ariz. (AP) -- Customs and Border Protection says border agents seized 141 cartons of fake Barbie and Moxie Girlz dolls headed for the U.S. from Mexico.
The boxes of fake dolls were found inside a truck Nov. 29 at the San Luis port of entry in southwestern Arizona.
Border agents were conducting a shipment inspection of a container of various dolls from China when they discovered items resembling Barbie and Moxie Girlz dolls.
The fake dolls were removed and held for potential copyright infringement.
Representatives from Mattel toys and MGA Entertainment were contacted. Photographs of both types of dolls were verified as being violations of copyright infringement.
The Border Patrol says the seized dolls are valued at $61,000.


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The Philippines is Southeast Asia’s industrial sick man (barely any transformation since the 1970s) and agricultural failure (a major net importer of agricultural products since 1995). The country’s weak agro-industrial growth is the primary reason for the rapid expansion of the informal economy (employing as much as 2/3 of the labour force) and the country’s continuing dependence on the remittances of its 10 million or so migrant workers, roughly a tenth of the population.
The ‘labour movement’ may be something unfamiliar or weird for the majority of Taiwanese people in their everyday life, especially for the young people. If we would like to have a ‘youth labour movement’, what is to be done?
The worldwide financial crisis has caused huge damage to Cambodia’s tourism, garment manufacturing and construction sectors. Those sectors comprise three of the Southeast Asian kingdom’s four economic pillars (besides agriculture) and the bulk of its economic growth over the past decade. Tens of thousands of people have lost their jobs in the past 16 months or are earning less than before.


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Continuing the discussion from Star Citizen is the Future of PC Gaming, and it [was] Free to Play this week (Edit: No Longer Free):
The Star Citizen thread recently celebrated its 6th birthday. The game itself has been in development for ten years.
One thing I’ve heard from grizzled PCMR veterans is that an appeal of Star Citizen is how it doesn’t coddle to casual hardware. It’s so technically ambitious that won’t even be available on consoles, which generally lag behind contemporary high-end gaming rigs in terms of power.
Buuuut a powerful 2012 (the year of its Kickstarter) PC is what the kids today would call a potato. The prettiest and most complex games of 2014 (the year SC was supposed to release) aren’t blowing anybody’s minds today.
Star Citizen is an outlier, but there are plenty of games that spend 3-6 years in development and then launch as finished products. How do they deal with improvements and innovations that happen during the development cycle? Is the heavy lifting actually done by the developers of the big engines like Unreal, and game developers just sort of update and renovate as they go without much hassle? Is GPU scaling generally predictable enough that it can be planned for as part of the development cycle? Is implementation of brand new technology (I hear a lot about ray tracing and DLSS these days) relatively easy, or are they Big Deal decisions that end up driving a lot of the toxic crunch we keep hearing about?


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Nintendo has revealed that it’ll be kicking off 2020 with a brand new Pokémon Direct, set to air on January 9th. While it might not be the general all-games-included Nintendo Direct that many were hoping for, the upcoming presentation does promise 20 minutes of new Pokémon information.
The January 9th Pokémon Direct will go live at:
- 6:30 am PT (Pacific Time)
- 9:30 am ET (Eastern Time)
- 3:30 pm CET (Europe)
- 2:30 pm GMT (UK)
Those who want to tune in can check the presentation out on either the official Nintendo twitch channel, through Nintendo’s YouTube channel, or the dedicated Pokémon Direct page.
While the Direct’s content hasn’t been disclosed, outside of it being Pokémon related, there is a strong possibility that the presentation may include details on the previously discussed Pokémon Home cloud service.
Set to launch in 2020, Pokémon Home aims to be a single location “where all Pokémon can gather” – a service which will allow trainers to transfer and store Pokémon across a variety of different platforms. In addition to storage, the iOS and Android app will even allow trading with local users and worldwide trading via the internet.
Whether or not Pokémon Home will make an appearance in the upcoming Direct is yet to be seen. However, with Pokémon Sword and Shield now in full swing and the 2020 release date now in sight, it certainly seems like the time is right.
Tune in on January 9th 2020 to see what Nintendo and GameFreak have in store for Pokémon fans this year.


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Don’t call it a comeback. The Dow is surging over 250 points on its way to reclaiming 26,000. Plus, Apple’s going big, looking to spend $350 billion in the US. We break down the numbers. And check out bitcoin —breaking below $10,000. Now a major bank says look out below. Plus, earnings season for the biggest names is coming up. We preview the big reports everyone will be watching. Catch The Final Round at 3:55 ET p.m. with Jen Rogers, Yahoo Finance Editor-in-Chief Andy Serwer and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red today include GE dropping further as investors are still not convinced a breakup will fix all its problems; Ford as the automaker’s profit guidance missed the mark; and Goldman, with shares dropping as it’s the only bank of the 5 majors that reported revenue that declined from a year earlier. Goldman blamed the drop on its fixed-income trading division.
Stocks in the green today include Dick’s Sporting Goods as Buckingham Research upgraded the retailer to Buy with a new $42 price target; Juno Therapeutics as the Journal reports Celgene is in talks to buy the biotech company; and IBM, with shares up as Barclays upgraded it to Overweight, claiming Big Blue’s long revenue decline may soon end.
What’s next for tech and digital currencies?
David Garrity of GVA Research breaks down what’s next for bitcoin and big tech earnings.


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Honda Korea selling improved version of its Accord sedan
Honda Korea said yesterday it has started selling the 2015 Accord sedan in Korea with upgraded safety features and interior.
The company said the tire pressure monitoring system (TPMS), which alerts drivers with a dashboard light when the air pressure in the tires is low, has been added because it is required by law starting in January.
It added that the leather back pocket of the driver and front passenger seats were changed with softer leather for easier storage.
The new Accord comes in five colors including white, silver and black, and the starting price for the 2.4 EX-L model is 34.7 million won (about $32,500) including value-added tax, while the 3.5 EX-L is 41.6 million won.


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As the number of people using mobile devices skyrockets, so does the need for mobile marketing initiatives. Many companies are taking the news in stride. After all, all they need to do is migrate their website and other digital content over to mobile, right?
“It’s not so simple,” said Jeff Hasen, chief marketing officer at Hipcricket, a top mobile marketing and advertising company and author of Mobilized Marketing: How to Drive Sales, Engagement and Loyalty Through Mobile Devices (Wiley, 2012).
During this week's BlogWorld & New Media Expo—the annual gathering of bloggers and communications professionals in New York City—Hasen told us two of the biggest mistakes companies make when reaching out to mobile users.
The first is not realizing Web content needs to be changed for optimized viewing on handheld devices. “The look of text and image on mobiles is critical to keeping viewers engaged,” he said. “Eighty percent of mobile users leave nonoptimized websites displayed on their mobile devices because what they’re seeing is not a mobile experience, but rather an online one that didn’t translate well.”
Mobile users on the go typically don’t find what they’re looking for fast enough—specific information, such as addresses of venues or hours of operation—on sites that have not been redesigned to provide a mobile experience.
“Often companies install too much content, which slows down mobile users’ ability to get information quickly, and that’s the second mistake,” he said. “Speed, which is highly desirable, gets a boost when content is bare bones.”
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Retail sales grew at a double-digit pace over the Thanksgiving Day weekend, launching the holiday sales season with raised hopes for stronger demand that will trigger
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Main Street board approves grant extensions
The Vernon Main Street Advisory Board approved actions concerning previously-awarded grant project applications during a monthly business meeting Monday.
Directors approved six-month extensions on grant projects including those for an $8,325 roof project at Main Street Nails, Main and Pease; and a $1,994.24 awning project at Heavens Confections, 1605 Main.
A motion for a one-month extension on a $4,600 project to Vernon Parts Sports Bar and Grill was approved with the condition that the owner submit receipts for work done on windows and seals. The firm also will have the option to reapply for a grant toward a project to refurbish an exterior clock that was located on the front exterior of the building for many years.
No action was taken on new grant applications submitted by Billy and Carolyn Talbot of Talbot Carpet, 1509 Main, for projects to remove exterior trimmings; and a project for a proposed arcade in the former Talbot Shoe Store across the street to replace an awning. Board members requested that the Talbots obtain two estimates for their projects including a breakdown on cost of windows as before the application would be considered.
Tourism and Main Street Director Amanda Lehman reported that the Vernon Wine Walk is scheduled for 4-7 p.m. March 9 in the downtown area. The event will be led by local artisans and include free tastings of wine, beer, cheese and chocolates but for an admission fee of $10 per person. The wine and beer tastings will only be offered those of legal drinking age (21 and older) and participants will be “carded” and given specific bracelets to wear upon entering. Also, wine and beer tastings will be permitted only on-premises. Lehman said that 42 tickets for the event have been sold so far with seven business set to participate. She suggested that golf carts or other such vehicles be made available to transport elderly attendees of the event.
Board members will consider possible action on appointments of committee chairpersons for the design, promotion, organization and economic vitality committees. They also approved the purchase of card tickets, program financial statements and minutes of the Jan. 28 meeting.
During a discussion about existing projects and future goals and ideas for the program, board member Marvin Tate reported that the City of Vernon is looking into the development of an outdoor events venture in the downtown area. Lehman reported that the Texas Main Street Program wanted to meet with local Main Street officials for a one-day retreat that board members consented to schedule for 1-5 p.m. April 22.
Present at the meeting were Lehman, board chairman Meredith Wright and board members Tate, Jamie Chapman and Julie Brock. Also present were Billy and Carolyn Talbot.


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Why a patenting decline of between 10% and 20% is on the cards this year
The global Covid-19 pandemic looks set to have a major impact on filings across the world in 2020, with a far steeper fall in applications than was seen in 2009
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The country's telecom regulator has cast doubt on BCE Inc.'s argument that fast-growing Web traffic requires new usage-based pricing measures, setting the tone for regulatory hearings that will help shape the future of Internet pricing in Canada.
At the same time, critics say the entire regulatory exercise misses the essential point: That Canada's strict Internet download limits are the real problem for consumers and threaten innovation in an increasingly digital economy.
The Canadian Radio-television and Telecommunications Commission ordered the hearings after intense public outrage greeted the agency's approval of a previous proposal from BCE Inc. That would have allowed the company to tack on additional charges for smaller Internet providers that lease space on Bell's massive network to offer Internet plans with much larger download limits than their larger rival.
Bell argued Monday that as Internet traffic increases in an era of online video services such as Netflix, the company needs to charge its wholesale clients in a manner similar to its own retail customers – on a per-byte model that encourages consumers to think about what they choose to download or watch online.
Commissioners on Monday greeted Bell's new proposal with skepticism and hammered back at the company's assembled executives. Len Katz, the CRTC's vice-chair for telecommunications, said Bell frequently talks about how explosive Internet traffic is leading to congestion on the company's network. "Yet, when I took a look at your forecast over the next five years, (Internet traffic) growth seems to have curtailed," he said. "Am I missing something here?"
Bill Sandiford, who runs an Internet provider in Oshawa, Ont., and acts as president of the Canadian Network Operators Consortium that is opposing Bell's new proposal, said he was pleased with the first day of hearings.
"We were very happy with the line of questioning that they put forward to Bell," Mr. Sandiford said in an interview. "They want to 'incentivize' people not to use [the Internet] It's ludicrous. We should be doing everything in our power to get people to use it more."
But some critics say the hearings are unlikely to address the issue that irks many Internet customers of major telecom companies: bandwidth usage limits that trigger surcharges when caps are reached. Industry observers and online activist groups such as OpenMedia.ca have been questioning Canada's Internet pricing plans, where download limits are much stricter than elsewhere.
"Since the CRTC refused to extend the hearing to retail usage-based billing issues, I suspect the outcome will be anti-climatic," University of Ottawa professor Michael Geist wrote on his blog on Monday. "There may be some new rules for wholesale UBB (which will only serve to demonstrate how badly the CRTC has bungled this issue), but the broader data cap issues will remain unchanged for now."
Bell responded to the regulator's questions on network traffic forecasts, saying it is difficult to predict the future. But Mr. Katz came right back, warning the company that a regulated outcome could be much worse for Bell than if the company had simply negotiated a reasonable solution with the wholesale ISPs.
Bell's executives responded that they did negotiate with smaller ISPs, and that the company did everything possible to meet their needs. But CRTC chairman Konrad von Finckenstein cut in, noting that when those ISPs asked for access to Bell's newer, high-speed Internet networks, the company balked.
"Don't tell me you are the great benefactor of ISPs you tried to resist," Mr. von Finckenstein said. "We had to have two hearings."
Bell has been arguing for a compromise to its original proposal, suggesting a usage charge that would be charged in aggregate to smaller ISPs, instead of one that would have applied in a more costly fashion to each of the smaller ISPs' customers. Bell says this will help them reap a return on investment for the billions of dollars the company is spending on its Internet infrastructure.
Bell's current argument – which Telus Corp. agreed with in theory at the hearing on Monday – earned a cool reception from regulators. Commissioners pointed out that Bell is trying to raise fees for transporting data at the same time as the cost for transporting data is falling dramatically.
Mr. Sandiford's group is proposing an alternative, whereby small ISPs would pay for the maximum capacity they need during peak hours, as opposed to a fee for each byte that they transfer during off-hours when it doesn't put a strain on the network.


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Basha family members angrily denounced a union and an affiliated group over recent charges leveled at the 75-yearold company.
Several Bashas’ executives, including family patriarch Eddie Basha Jr. and company President Mike Proulx, delivered an emotional press briefing Monday morning peppered with words like “lies” and “slander” when describing tactics by the United Food Workers Coalition and a group it formed called Hungry for Respect. That group is actively working to unionize the company’s 14,000 employees.
Officials said a union study claiming to have found more than 600 units of expired infant formula was false and described the dispute between the company and UFCW as a battle. Basha said that while the UFCW’s accusations haven’t really hurt his company’s business, he takes the charges personally and vowed to take the groups head on.
Johnny Basha, the company’s vice chairman of the board, said the group is manipulating public opinion in its efforts to unionize workers. “We will not sit back and allow this to happen,” he said.
Officials pointed to some examples that they say call the study into question. For example, at an Ike’s Farmers Market in Oro Valley, the UFCW claims to have found several brands of baby formula that the company said it doesn’t sell there.
“We’re just continuing to find holes in what they’re claiming,” Bashas’ spokeswoman Kristy Nied said. She said the union won’t allow Bashas’ officials to inspect the evidence.
“If they were truly concerned about public safety, they would have turned over the infant formula and receipts to us immediately,” Nied said.
Bashas’ officials said the union is trying to pressure it into entering a labor contract without putting the issue before employees via a private vote.
They said the union knows it would fail under those circumstances because company workers are almost completely opposed to representation.
Basha said the benefits his company offers are above the norm. “Basically, we offer our (workers) more than the union offers,” he said.
Jim McLaughlin, president of the UFCW Local 99, said the group plans to share evidence from the study, including the receipts and containers. “If they’re going to continue to make allegations about slander, sue us,” he said. Bashas’ was started in 1932 by Ike and Eddie Basha Sr.
It’s the largest locally owned grocery chain in Arizona with more than 150 locations and 14,000 employees.


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Many are wondering if Xbox bought Ubisoft and why they would be better off for it. The video game industry is notorious for secrecy. While Ubisoft has a reputation for being toxic, and it has been the target of numerous lawsuits and sexual harassment allegations, Microsoft’s finances are strong enough to make the acquisition work. The Xbox is the king of the gaming world, and Microsoft has the financial muscle to pull it off.
While the deal may be good for Microsoft, some have questioned whether it’s the best move for the Xbox brand. The rumor has already prompted speculation that Microsoft and Ubisoft are working together on bringing Ubisoft Plus to the Xbox. Earlier this year, the service was launched as Uplay Plus, but later dropped the Uplay branding. In an interview with GamesBeat, Jeff Grubb indicated that he was unsure how this would work out. The article, transcribed by Pure Xbox, reveals that it’s unlikely to happen.
One thing is for sure – Xbox needs studios to grow its Game Pass user base and expand into new markets. After all, Sony already owns a very successful console platform and has more market share than Microsoft. However, the Xbox is also facing competition from rivals, so the company may need to keep buying in order to remain competitive. That said, it’s a good thing that Microsoft isn’t going out of its way to make Ubisoft a part of its platform.
It is worth noting that Microsoft is working with Ubisoft on bringing its Ubisoft Plus service to Xbox. While Ubisoft launched the service in 2019 under the name “Uplay Plus”, the Xbox has yet to launch the new service. While Grubb admitted that he was unsure how this would work, the company is making every effort to make it work. Moreover, the new partnership is also likely to allow Xbox to become the “Netflix” of videogames.
The Xbox has been looking for a long time for a way to increase its Game Pass user base. But this acquisition is a much bigger risk. The deal also raises antitrust questions. As a massive gaming powerhouse, Microsoft will be able to dominate the market in the future. While its acquisition of Ubisoft may not be a good idea, it could create more competition. And since it owns the most profitable games, it will have more money to spend on them.
The Microsoft-Ubisoft deal has many implications. It is one of the biggest deals in video game history. The two companies own the most profitable games. This deal has the potential to disrupt the market. It will also raise antitrust questions. And it will be a significant threat to the gaming industry. Ultimately, Xbox has the power to transform the entire video game industry. In addition, the merger will have a positive effect on the company’s future sales.
The company’s recent acquisitions include the Zynga and Activision Blizzard. The Microsoft-Ubisoft merger will bring a more cohesive gaming ecosystem. And while it might have more games than other competitors, it is more focused on the success of its products. A recent report shows that Microsoft will invest a large amount of money in games and make them more competitive. So, why is it buying Ubisoft?
In the future, Xbox will also become a streaming network. This will allow Xbox to make money without having to develop a physical product. It is unclear whether the Xbox will also offer free games. It is still too early to tell. It is unclear what the future holds for the console. The deal is expected to be finalized in the coming weeks. The company will also offer an alternative platform for video games. With this partnership, Microsoft hopes to continue to push forward its push to become a subscription-based video game giant.
The Microsoft-Ubisoft merger will raise antitrust concerns. The deal will create a massive gaming giant and will have the power to transition to a subscription-based future. The move is a win-win for Microsoft. The deal has the potential to turn the world of gaming upside down. It is also a win-win situation for everyone involved. This combination of gaming giants will bring more than just increased profits to gamers.


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“It looks like demon, sounds like lemon,” she said, explaining how to pronounce her name during the first interview I performed for the soon-to-be-dropping Cheers! North County Podcast, where I have a drink with an interesting member of our community. Featured guests may be politician, entrepreneur, brewer — or in this case, food and beverage industry writer Beth Demmon.
Beth has local columns in the West Coaster and San Diego CityBeat while contributing to national publications like Good Beer Hunting, VinePair, Vice and more. “I would say that covering beer is kind of my specialty, specifically, covering the culture of craft beer,” she said.
When asked what she was drinking on this day, she replied, “I waited to crack it open. I have a fresh can of Burning Beard’s Circle of Hops, their San Diego Pale Ale. I just picked it up day before yesterday so it should be nice and fresh.” I popped the top on my own can of Fort Point Beer Co. Westfalia Red Ale to share in the tradition of happy hour.
Beth has a background in painting and printmaking, and after college worked in content marketing while food blogging on the side. A colleague told her about an opportunity to take over a beer column, and “on a lark” she applied for the position with CityBeat in 2015.
Since then she’s become a fixture in the local craft beer community.
While food, coffee or beer is at the core of her written work, she doesn’t shy away from difficult topics like diversity, sexuality and community experience, including the loss of the social interactions we took for granted before the COVID-19 pandemic restricted those opportunities.
Her recent piece for the Good Beer Hunting online magazine, titled “Where Everyone Knows Your Name,” delved into the value of those interactions we as a community have built at our local brewery, pub or restaurant.
“I think that the craft beer community, specifically, relies so heavily on that concept of community,” she said. “There is really no substitute for walking into a place and [having] that tangible interaction of people, whether you know them, or whether they are friends or strangers. Pubs have historically been egalitarian meeting spaces, and now they are serving a very different purpose if they are even open at all. …”
Over the course of a beer, our conversation veered into the post-COVID-19 future for San Diego’s beer scene. “I think it’s going to be difficult for San Diego,” she said. “Just because we’re so heavily based in tourism as a culture, and just for economic growth. … We’re going to see a little bit of the struggles that were already reflected in the competitive landscape.
“… I think the really big guys who have the capital to ride out this pandemic are gonna be able to do a little bit better, and I think the really, really small guys, the hyper-local guys who were already working on a shoestring budget and skeleton crew, they’re going to be doing fairly well, and have the best shot at success. … It will be the mid-sized ones [breweries] who will have difficulty.”
She pointed to Tribute Pizza as a great example of a business that has leaned into the pandemic, and quickly adapted their business to serve customers, while also commending Bagby Brewing for choosing to close entirely, for a variety of reasons, being a model for businesses making the best choices for their business model during this difficult time.
“I don’t think there is any right or wrong way with how everyone has been handling this pandemic,” she said. “I’ve been impressed with how everyone has coalesced together, and it seems like people are able to hang on. The community has rallied.”
Beth hosts a weekly Instagram Live happy hour for the SD Brewer’s Guild, Wednesdays from 3 to 4 p.m., checking in with local brewers, as well as brewery industry leaders. Watch at @sdbrewers, and her recent interview with Sandy Cockerham, the nation’s highest-ranking female beer judge, was just published on CraftBeer.com.
I closed our interview by asking about that Burning Beard Pale Ale she opened earlier. “It’s so good,” she said. “It’s 5.3% [ABV]. It’s perfect for mid-afternoon.” We said our goodbyes, and she left our conversation to “take this beer party outside” with her family.


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Now PAN card not required for jewellery purchase of over Rs 50k
New Delhi: Giving a huge relief to the people on the festive occasion, the Centre on Friday announced that now the consumers will not have to furnish income tax Permanent Account Number (PAN) on jewellery purchase of over Rs 50,000.
Now, jewellers will also not need to inform authorities about jewellery purchases of over Rs 50,000 after the government rescinded a notification issued on August 23.
The government declared that the entities dealing in gems, jewellery and other high value goods and having an annual turnover of over Rs 2 crore will no longer be under the purview of the Prevention of Money Laundering Act (PMLA).
The government, however, clarified the reason behind the decision saying the notification had been rescinded because certain incongruities had been noticed and soon a fresh notification will be issued. The statement hinted that the sector may be kept under greater watch in near future.
“After considering various aspects of the issue, the government has decided to rescind the said notification. A separate notification after due consideration of points raised and wider stakeholder consultation in this regard shall be issued separately,” it said in a statement.
"The withdrawal of Rs 50,000 limit for KYC (know your customer) under PMLA is great news, as the imposition had impacted sentiment and sales to some extent,” said Sandeep Kulhalli, senior V-P, retail and marketing, Tanishq. Industry expects growth to recover after the relaxation.
“With the festive season still under way, the withdrawal of the notification has raised prospects of sales recovering in the third quarter,” said Surendra Mehta, national secretary, India Bullion and Jewellers Association.
Earlier, similar to other sectors, the threshold for KYC was Rs 2 lakh. This got lowered to Rs 50,000 after the jewellery sector was brought under PMLA on August 23.


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*Companies that fail to advertise with Black media are missing an opportunity to effectively reach nearly 43 million African Americans whose $695 billion annual buying power is projected to exceed $1 trillion in three years, according to the new study released by Nielsen and the National Newspaper Publishers Association (NNPA).
“Still the largest racial minority group in America, with a projected buying power of $1.1 trillion by 2015, Black consumers remain at the forefront of social trends and media consumption,” the study found. The findings were released Friday at the Congressional Black Caucus Foundation Legislative Conference.
“Our collaboration with the NNPA has been successful,” said Susan Whiting, vice chair of Nielsen, a premier global information and measurement company. “NNPA’s insertion of the report into its 200 publications allows Nielsen access to millions of African-American consumers, and allows us to share vital information that will help increase the awareness of Blacks’ consumer power.”
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And according to the report, that power is considerable.
“Since 2000, the total U.S. population only increased by 11.3%, while the Black population increased by 17.9%, a rate that is 1.6 times the greater overall growth,” the Nielsen study said. The report noted that the U.S. Black population is larger than 163 of the 195 countries in the world, including Argentina, Poland, Canada and Australia.
“The average income for African-American households nationwide is $47,290 with 35% earning $50,000 or more,” the report stated. Ten percent of Black households earn $100,000 or more each year. The study noted, “The Black population and its aggregate buying power is overall more geographically widespread and more diverse than other ethnic and racial segments.”
Cloves Campbell, chairman of the NNPA and publisher of the Arizona Informant, said: “Marketers underestimate the opportunities missed by overlooking Black consumers’ frustration of not having products that meet their needs in their neighborhoods. And companies that don’t advertise using Black media risk having African-Americans perceive them as being dismissive of issues that matter to Black consumers. This report demonstrates what a sustainable ad influential economic force we are.”
Benjamin Jealous, president and CEO of the NAACP, stated that African-American readers give more credence to ads placed with Black media than those that appear in the general interest publications. And the Nielsen research supports that view.
According to the report:
•Ninety-one percent of Blacks believe that Black media is more relevant to them;
•Eighty-one percent believe that the products advertised in Black media are more relevant to them;
•Seventy-eight percent would like to see more Black models/actors used in ads (51 percent said they would purchase a product if the advertising portrayed Blacks positively);
•Seventy-seven percent of African Americans said Black media has a better understanding of the needs and issues that affect them;
•Seventy-three percent believe Black media keeps them in touch with their heritage;
•Sixty-eight percent want to see more commercials directed specifically to Black audiences and
•Sixty-seven percent of Blacks want to see more advertising targeting Black consumers.
Read/learn more at Sacramento Observer.


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Recent years have seen much discussion about greater economic
integration in East Asia. However, the majority of significant
achievements have always been made within the Association of
Southeast Asia Nations (ASEAN) or between ASEAN and other economies
in the region.
Encouraged by progress on the path leading to freer trade among
themselves, ASEAN nations on Tuesday agreed to speed up the
timetable for the creation of a single market called ASEAN Economic
Community (AEC) by five years to 2015.
Considering the status quo of economic relations in East Asia,
and perhaps political relations as well, AEC could well serve as
the core and absorb other economies to expand itself to a bigger
common market in the region. This is not the only possible
scenario, but it is the most likely one.
In contrast, a proposal by Japanese Trade Minister Toshihiro
Nikai for a sweeping free trade agreement that involves the
16-country East Asia free trade zone which covers ASEAN, Japan,
China, the Republic of Korea (ROK), India, Australia and New
Zealand is too ambitious for the moment.
Japan's trade talks with both the ROK and ASEAN have not been
progressing smoothly. And Japanese wariness of China's increasing
influence has complicated any attempt for a free trade arrangement
that would involve the two. This has made anybody talking about a
free trade agreement involving China and Japan, Asia's biggest and
second-biggest economies, sound naive and idealistic.
In the broader context Japan proposed, which would also include
such economic powers as India and Australia, it would be much
tougher to make headway.
The uncertain prospects of the multilateral trading system after
the pathetic Doha Round of talks seem to justify the need for a
growing effort toward bilateral and regional trade pacts in East
Asia, which relies heavily on trade for growth. At the same time, a
unified Europe has increasingly become the envy of businesspeople
in East Asia.
Indeed, the increasing business transactions and cross-border
industrial supply chains for many industries in the region do
necessitate more liberalizing steps in terms of trade and economic
There is already a patchwork of free trade agreements or
potential agreements on a smaller scale in the region.
However, trade officials and company executives have to accept
this regrettable fact: Relationships between nations in the region,
especially between its major powers, are still not mature enough
for an aggressive plan as suggested by Nikai.
Commenting on the Nikai initiative, ASEAN trade ministers said
the plan was worth study but urged Japan to make its FTA
negotiations with ASEAN the current priority.
This would be a realistic approach.
(China Daily August 25, 2006)