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What a difference a year makes.
Last June General Motors was staring into an abyss. Fast forward 12 months and the company has repaid around $8 billion of debt and just announced its first quarterly profit in almost three years. So yes there's been a recovery.
But it's been a rollercoaster ride for GM shareholders and employees, and for scores of the company's Hispanic dealerships, which have experienced all the ups and downs of their corporate parent.
"As GM goes so do we," says Raymond Palacios, president and owner of Bravo Cadillac Hummer, in El Paso, Texas, and sister dealership Bravo Chevrolet Cadillac, in La Cruces, New Mexico.
"GM's experience has had a definite impact on our business, there's no doubt about it. We're joined at the hip."
And that's suddenly a great place for dealerships to find themselves now that GM's fortunes have taken a major upswing.
Under the protective Chapter 11 umbrella, the former auto titan set about pulling itself back from the brink. The company embarked on a series of cost-cutting measures and other restructuring that included factory closures, shedding jobs, selling assets and a massive shake-up at management and board level.
Tom Henderson, who specializes in sales and marketing trends at GM communications, says a key part of the restructuring was the reduction of GM's eight brands to just four. Mr. Henderson says the turnaround and much of the momentum being generated is a result of taking all the existing resources, "cutting through the clutter" and focusing solely on those four – Chevrolet, Cadillac, GMC and Buick.
GM and its Dealerships
Judging from what's transpired inside Hispanic dealerships, it looks as if the GM mothership and its dealerships are being lifted by a tide of consumer acceptance.
GM is providing products consumers want and marketing support, while the dealerships are ramping up retail sales. A case in point is Mario Murgado, president and CEO of Miami Automotive Retail Inc., which does business as Brickell Buick GMC, who says his first quarter results are up 80 percent over 2009.
Even last year, one of the worst on record for many dealers as they wrestled with plunging revenue – upwards of 20 percent in many cases – Mr. Murgado managed to eke out a modest earnings increase of 2.6 percent and keep staff numbers steady at around 100.
This year his revenue is jumping off the charts: January up 31 percent; February up 17 percent; March up 375 percent. "We've gained market share," he says, adding that the trend continued into April with a jump of 82 percent.
It's the same story elsewhere. Mr. Palacios says in the first four months of this year he has seen double-digit increases throughout his operation, including the sale of new Chevrolets and Cadillacs, compared with last year.
Mike Shaw, president of Mike Shaw Automotive, which includes dealerships in Denver and Colorado Springs selling Chevy, Buick and GMC, thinks full year revenue for 2010 could be 15 to 20 percent ahead of last year.
Mr. Shaw, who owns six dealerships across the country, reckons those figures could be higher but for "an across-the-board shortage of inventory" from GM. "They haven't cranked it up and it's hurting our sales," he says. "We're all missing sales."
Hot Sales and Production
Those shortages partly reflect GM's burgeoning recovery strategy for tighter inventory control. Company spokesman Mr. Henderson says sales are up for each of the last seven months and jumped 31 percent for the first four months of this year.
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What was supposed to be a normal trip to the grocery store, turned out to be something much more.
Earlier this month, Matt White, 30, was approached by a 16-year-old boy from West Memphis, Tennessee, as he was shopping for groceries at Kroger.
The teen, identified as Chauncy, offered to carry White’s groceries to his car in exchange for a pack of glazed doughnuts.
White said in his heart he screamed a loud “yes!,” “but to him I just chuckled and said, ‘yeah dude, we’ll get you some donuts,'” White wrote on his Facebook page.
According to White, Chauncy looked “like he had been turned down 100 times. He looked ashamed, hungry and broken.”
Based on these observations, White decided to buy Chauncy groceries instead.
“We got cereal and chips and frozen veggies, pizzas, Cheetos, melons and pasta, peanut butter, milk, soap, tooth brushes, just a little bit of everything,” White wrote.
As the two got familiar with one another, White learned many things about Chauncy.
“… he told me how he makes straight A’s in school and is trying to get a job to help his mom pay rent. This kid was amazing. Chauncy kept calling himself poor, but he told me that one day he was gonna be wealthy and own his own businesses so that he could help other people in his neighborhood and buy them groceries like me. I was in awe,” White wrote.
Once White arrived at Chauncy’s home to bring up the groceries, he discovered that both Chauncy and his mother were sleeping on the floor. Their refrigerator was also empty.
White then took to Facebook on June 10, sharing what had transpired that day.
Many people on social media were moved by his kindness and offered to help Chauncy and his mom in any way they could.
“I want to help. You are truly amazing as is this young man,” wrote a Facebook commenter.
“I work at a place where we have a thrift store I need his address if possible,” wrote another.
One woman on social media, Maryan Stevenson, said she knew Chauncy and his mother.
“OMG I’ve know Chauncy & his mom for years…he is such a respectable & deserving person. He will succeed in life!!! Thank you so much for helping them!!! You’re an Angel!” she wrote on White’s Facebook post.
Below is a video—made by White—of Chauncy asking for clothes and a push lawnmower so that he could cut lawns to get some sort of income.
On June 13, White created a GoFundMe page to help raise a few hundred dollars for Chauncy. As of June 23, White has raised $27,103.
“I didn’t think it could happen, but it did. I’m 30 years old and I have a new hero,” he wrote on the fundraising page.

domain: news


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By Kiana Hui
For Jon Rodriguez ’12, a computer science honor thesis was more than just an academic exercise. Instead, it was the launching pad for Epiphany Eyewear, alternative reality eyeglasses set to compete against Google Glass.
Rodriguez co-founded Vergence Labs, the company behind the glasses, in 2011 with Erick Miller. Rodriguez said that he spent his entire senior year working on the technology behind the eyeglasses, quitting an internship at Facebook to devote more time to his new company.
Epiphany Eyewear offers a general-purpose computer that can share photos on social media sites and live stream video on Facebook, as well as sunglass lenses that can be turned on and off with a simple button.
According to Rodriguez, Epiphany Eyewear differs from Google Glass in the product’s subtle nature.
“The purpose of the glasses is to be an increasingly powerful computer inside a regular, stylish eyewear,” Rodriguez said. “Our software is designed to maximize potential for software integration, particularly social networks.”
David Meisenholder M.S. ’13, a member of the Vergence Labs team, said that the glasses’ style is an integral aspect of the product.
“We’re hoping to keep hitting the style on the head, making it a real fashion product rather than a consumer electronic,” Meisenholder said.
Eric Smalls ’16, an intern with Vergence Labs who helped incorporate robotics into the glasses, identified a different corporate philosophy from that encountered at Google.
“The vision of the team is very different from Google Glass. It’s definitely more personal and focused on the users,” Small said.
While the Vergence Labs team expressed optimism that the glasses will offer a viable alternative to Google Glass, critics have contended that Epiphany Eyewear offers limited capabilities, citing the lack of a display to watch recorded videos and the omission of more advanced features like the ability to access Google Apps.
However, the team said that they plan on releasing annual updates to the glasses, adding new components like the ability to incorporate prescriptions and, eventually, to program the glasses to allow students to take notes or record audio of a lecture or allow a golfer to watch a playback of his swing from a friend’s pair of glasses.
“I think there’s great potential in the displays we’re researching to absolutely erase the lines between virtual reality and real reality,” Rodriguez said.
The glasses are currently available for pre-order, with Rodriguez estimating that they will be ready for purchase by the end of summer 2013. Google Glass is expected to be made available to the public in late 2013.
The Vergence Labs team emphasized Stanford’s influence on the glasses’ development, with Rodriguez noting that the Stanford Design Program’s “strong focus on thinking outside of the box” played a large role in the product’s design.
Meisenholder added that he is “always stabbing the alumni network for information on manufacturing and design and getting feedback from the alumni of [his] program.”
Smalls agreed that Stanford connections have been an integral part of the company’s success.
“[The company’s] relationship with Stanford is very important because it brings people to the team who are motivated and excited about working on really cool things,” Smalls said.


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2014 was a year of high profile cloud breaches that were examples of aggressive data driven strategic cyber crime. Criminals are stepping up their game and data breaches are becoming both common and devastating.
Earlier this month, at the Amazon Web Services (AWS) Summit in New York City, Werner Vogels, CTO of Amazon, explained why the AWS Cloud is pretty much impossible to surpass in the cloud computing market, desp
Late last month I attended the Docker Conference in San Francisco and I was very pleased how far Docker has come. The crowds, the speakers and the technology created a fantastic atmosphere. DockerCon is a two-day, multi-track conference organized by Docker, Inc.
I believe we all agree that the effects of lost data on business operations can be devastating. Even if a monetary value is not assigned to the data, the negative effects can be significant, and in some cases businesses may eventually have to shut their doors. This is why having a secure and reliable backup plan in place is now a critical step in order to ensure business continuity.
More than 90% of organisations are using cloud-based applications, according to RightScale research conducted early this year.


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BMW is Still Indians' Favourite Car
Luxury cars have got the Indian car enthusiasts spinning on their (w)heels. And just when you think one top-of-the-line car has entered the market, yet another one zooms in behind it. And despite the new entrants in the luxury car segment, BMW India has still managed to hold on to its number 1 spot by selling 1,027 units in March. BMW India is the first luxury car manufacturer to cross the 1,000 mark in a single month.
Until now BMW India has delivered 2,147 cars to customers in 2011 (500 units in January, 620 units in February and 1,027 units in March). The BMW 5 series sedan is supposed to have been a major player in this success story. Sales this March grew 69.75 per cent from 605 units in the same month last year. The firm's previous best ever monthly sales in India were in December 2010 at 901 units, an Economic Times report stated.
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The sports saloon was always going to be a halo car for Kia, yet they believed it would be successful at least in the U.S. – and that didn’t happen.
The Kia Stinger was the single best-performing vehicle in the study, scoring 834 points out of a 1,000 maximum.
Kia UK saved a Stinger GT S pre-production car from the crusher by making it a track special.
It may not have a German badge but the Kia Stinger is one of the most desirable sports sedans.
The new Kia Stinger GTS packs 365 hp and a trick all-wheel drive system. It also has a cool orange paint job.
The Stinger features a twin-turbo 3.3-liter V6 engine with 365 HP, so it’s well suited to this role.
2018 was a rather flat year for Kia but the Stinger appears to have done pretty well in its first year in the market.
We already know that the Kia Stinger is fast, but is it fast enough to challenge the Model S?.
The ultra-wide and very low Stinger was displayed at this year’s SEMA Show in Las Vegas.
Besides the two DUB concepts, Kia showed a customized Forte Federation with an aftermarket body kit.
Both cars have been made in collaboration with DUB, and will be joined by other custom Kia vehicles in Las Vegas.
It may not be the sharpest sports sedan out there, but overall, the new Stinger is a very capable car.


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In a messy divorce more akin to celebrity travails than the day-to-day business of multinational corporations, Suzuki has dissolved its relationship with Volkswagen.
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Summer has officially arrived, which of course means warm weather.
Hybrids aren't the only option for consumers looking for fuel-efficient 2011 new cars.
Volkswagen has issued a voluntary recall for Jetta ,Jetta Sportwagen, and Golf models for their TDI diesel engines, which could spring a dangerous fuel leak.


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Competition in EEU market will reduce due to cooperation and the creation of preferential agreements with third countries. Veronika Nikishina, Minister for Trade of the Eurasian Economic Commission announced today at the forum «Development of the Silk Road Economic Belt — intensification of cooperation.»
According to her, during the creation and functioning of the World Trade Organization (WTO), countries went on different ways of concluding regional agreements. The overwhelming majority placed a stake on signing preferential agreements and reduction of customs duties with a large number of countries. The countries of the Eurasian Economic Union took a different path. They began to strengthen integration within the given borders.
«Work has been done for more than 20 years. But it is not completed so far. Under-integration is still present. And work on eliminating internal barriers will continue. The President of Kyrgyzstan, presiding over EEU this year, has determined the work on eliminating internal barriers as a priority. But we need to set new goals. Last year, we conducted an audit of our trade policy with respect to third countries. We realized that there were more advantages than risks in building other trade relations with third countries," Veronika Nikishina noted.
We will be able to obtain real benefits from the creation of new preferential trade relations with the third countries.Veronika Nikishina
«For example, we will reduce competition in the domestic market by creating more preferential regimes for export to the third countries," she added.


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GrabPay Malaysia is teaming up with the Government to boost cashless payment adoption among youths and businesses, particularly micro small and medium enterprises, through the RM300 million ePemula programme announced recently by the Finance Ministry.
Under the programme targeted to start in the middle of this month, some two million youths aged 18 to 20 and full-time students from higher learning institutions will receive a one-off RM150 credit voucher via their e-wallet of choice for in-store transactions.
In a statement on Thursday, GrabPay Malaysia head Priyanka Madan said since the launch of the GrabPay e-wallet, the company has cooperated with like-minded partners and government agencies to encourage the growth of cashless transactions to provide for safer, more transparent and inclusive financial services nationwide.
“As the country transitions to Phase Four of the National Recovery Plan, we hope businesses will be able to recoup their offline sales while still reaping the benefits of the digital economy,” she added.
The statement cited various studies to show the pandemic has accelerated e-wallet adoption across Malaysia, including one done by Tech for Good Institute that found 67% of Malaysians have digital access through mobile phone subscriptions, with 83% of them adopting digital payments using mobile e-wallets.
Meanwhile, according to the Visa Consumer Payment Attitudes Study 2021, 55% of Malaysians said they can go on without physical cash for more than a week. The study attributed this to the growth of cashless payment options such as QR payments and e-wallets.
Bank Negara Malaysia’s recent report also showed that e-wallet transactions increased more than 70% in 2021 compared with 2020. – BERNAMA


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On Monday, an unsatisfied customer filed a lawsuit against Taco Bell, alleging in a proposed class-action complaint that the restaurant chain misrepresented the quantity of food in the Mexican Pizza, Crunchwrap Supreme, and other menu items.
According to a class-action lawsuit filed today in the U.S. District Court for the Eastern District of New York by Frank Siragusa on behalf of himself and other consumers who were dissatisfied with the quantity of filling in Taco Bell’s Mexican Pizza items and Crunchwraps. Siragusa accuses Taco Bell of “unfair and materially misleading advertising” and is seeking in excess of $5 million from the chain for alleged violations of a law prohibiting discriminatory and deceptive business practices.
According to the complaint, “The Mexican Pizza that Plaintiff purchased contained approximately half the beef and bean filling that he expected,” The lawsuit contains images used by Taco Bell in its advertisements as well as images of the actual items taken by customers, which appear unattractive in comparison to the company’s images.
Deceptive Portion Size Lawsuit Targets Taco Bell’s Advertising Claims
The lawsuit claims that Siragusa and others would not have purchased the Crunchwraps and pizzas if they had known they would be receiving smaller portions than those depicted. In addition to requesting compensation for those who purchased the products, the lawsuit also requests that Taco Bell “provide corrected advertisements” or cease selling them.
Last year, one of Siragusa’s attorneys, Anthony Russo, represented a Burger King consumer in Florida in a similar lawsuit. In this filing, a man who had purchased a burger from the chain complained that the chain made its burgers appear much beefier than they actually were. In an interview with The Washington Post last year, Russo stated, “Little situations — what some would consider to be a little situation like this — could lead to unfettered behavior from big corporations,”.
Similar allegations made by the media and YouTube reviewers about Taco Bell’s offerings were included in the lawsuit filed this week. According to an article on the food website Mashed.com titled “Why Reddit Is Calling Out Taco Bell’s Skimpy Crunchwraps,” multiple customers have complained about the popular menu item, which consists of a crisp tortilla loaded with seasoned beef, nacho cheese, and other garnishes.
The Mexican pizza, which consists of two crunchy tortillas encasing a meaty filling and is garnished with cheese and other accoutrements, is a fan-favorite item that Taco Bell reinstated on its menu last year after receiving backlash for announcing that it would be discontinued in 2020. The chain promoted the revival with a TikTok musical starring Dolly Parton and Doja Cat.
Taco John’s possessed the copyright to the phrase “Taco Tuesday” in the majority of the United States. Taco John’s stated that it was relinquishing control over the name in lieu of incurring legal fees in a dispute with its larger competitor.


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Even before the pandemic hit, India was one of the world’s most malnourished countries. As could be expected for such a country with such poor development indicators, Covid-19 hit India’s poor hard. To compound the problem, the Indian government put in place what was the world’s harshest lockdown with little planning.
A new paper by economists Jean Drèze and Anmol Somanchi has now analysed survey data (collated here) to look at the impact of India’s first Covid-19 lockdown in 2020 on food deprivation. Their conclusion is grim: “the lockdown and the economic recession that followed led to a severe nutrition crisis”.
The first impact of the lockdown was obviously on incomes and employment as India put in place the world’s harshest restrictions which shut down almost all economic activity.
Average income decrease from pre-lockdown
|Source||Reference period (2020)||Avg income reduction (%)|
Bertrand et al.
|CSE-APU (Round 1)||April-May||64|
|IDinsight+ (Round 1)||May||72|
|IDinsight+ (Round 2)||July||68|
|IDinsight+ (Round 3)||Sept||74|
|CSE-APU (Round 2)||Sept-Nov||50|
Across the board, surveys showed a drastic drop in incomes compared to pre-lockdown levels.
A survey by IDinsight, a data analytics organisation that focuses on the social sector, found that the average weekly income of non-agricultural respondents crashed from Rs 6,858 in March 2020 to Rs 1,929 in May, and was still around that level in September. The proportion of non-agricultural respondents who reported zero days of work shot up from 7.3% in early March to 23.6% in the first week of May and was still as high as 16.2% in the first week of September.
Another survey by consulting firm Dalberg found that primary income earners of 52% of households were unemployed in May despite having a job before the lockdown and another 20% were still employed but earning less than before.
Drèze and Somanchi argue that this hit was not temporary and it was “doubtful that income and employment ever regained their pre-lockdown levels before a second wave of the Covid-19 epidemic hit the country in early 2021”.
Heightened food insecurity
Expectedly, shrinking incomes would lead to food insecurity.
|Indicator and Source||Reference period (2020)||Incidence (%)|
|Eating less food than before (%)|
|CSE-APU (Round 1)||April-May||77|
|ActionAid (Round 1)||May *||67|
|Hunger Watch b||October||53|
|CSE-APU (Round 2)||Sept-Nov||60|
|Smaller meal size or fewer items in meals (%)|
|PRADAN+ (Round 1)||April *||68|
|IDinsight+ (Round 1)||May||26|
|PRADAN+ (Round 2)||June *||55|
|Gaon Connection||June-July *||46|
|IDinsight+ (Round 2)||July||14|
|IDinsight+ (Round 3)||September||13|
|RCRC (Round 2)||Dec 20 - Jan 21 *||40|
|Fewer meals (%)|
|PRADAN+ (Round 1)||April *||50|
|PRADAN+ (Round 2)||June *||43|
|Gaon Connection||June-July *||38|
|Eating less than two meals a day (%)|
|ActionAid (Round 1)||May *||34|
|ActionAid (Round 2)||June *||19|
Like with incomes, surveys across the board pointed an alarming rise in food insecurity. Depending on the survey, between 53%-77% respondents argued that they were eating less after the pandemic hit than before. Even more alarmingly, lifting the lockdown had a rather small effect.
A survey by the Centre for Sustainable Employment at the Azim Premji University, for example, found that even in the September-November period, the proportion of people eating less than what they did before the start of the pandemic was as high as 60%. (It was 77% during the lockdown).
The situation was even worse amongst poorer groups. The non-profit organisation ActionAid found that 35% of surveyed informal, mainly migrant workers were eating fewer than two meals a day in May. Similarly, a survey by Pradan, another non-profit, covering informal sector workers in rural areas of 13 states found that half of them were eating fewer meals than before.
Drop in nutrional quality
The quantity of food was not the only red flag – so was its nutritional value. Data from the Centre for Monitoring the Indian Economy (see charts above) shows that while expenditure on cereals remains almost constant, there was a drastic decline in money spent on nutrient and protein-heavy food such as eggs, meat, fish and fruits. And this holds across income groups. On meat and fish, in fact, the expenditure of the top 25% income group drops to levels below that for the middle 50% pre-lockdown.
Thin silver lining: PDS (but more needs to be done)
The silver lining in this was the performance of India’s public distribution system, which supplies either free or highly subsidised foodgrains to Indians. During the lockdown, both state governments as well as the Union government announced relief measures such as free and increased rations. Dalberg, for example, notes that as many as 89% of Indians received PDS grain during lockdown. Moreover, a similar number also received free grain as per temporary lockdown schemes.
The table below summarises the survey data. Scroll right to see the entire table.
|Source||Reference period (2020)||% of sample households that received grain from PDS||% of sample households that had a ration card||% of households with card that received grain from PDS||% of households with card that received free grain from PDS b|
|PRADAN+ (Round 1)||April||-||-||84||-|
|CSE-APU (Round 1)||April-May||78||-||-||-|
|RCRC (Round 1)||April-May *||-||-||-||88d|
|RCRC (Round 2)||April-June *||-||90||-||92 e|
|MicroSave (Round 1) f||May||-||-||91||-|
|PRADAN+ (Round 2)||June *||-||-||84||-|
|Gaon Connection||June – July||63||83||71||-|
|MicroSave (Round 2) f||September||-||-||94||-|
|IDinsight+ (Round 3)||September||68||75||89||88|
|CSE-APU (Round 2)||Sept-Nov||-||91||91||-|
Given that a second Covid-19 wave in India this summer had led to most of the country going under state-implemented lockdowns, the paper recommends that a “second, stronger wave of relief measures is essential to avoid a repeat of last year’s tragic humanitarian crisis”.
One of the paper’s co-authors, Jean Drèze, has also recommended cash transfers as a way to help Indians hit hard by the pandemic lockdowns.
Unfortunately, far from better relief measures, Indians are finding that even a repeat of last year’s assistance is running into trouble. The Hindu reported that almost a third of ration card holders have been unable to access free rations allocated by the Union government due to distribution issues at the state level.
Complete information on all surveys can be found here.


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In 2009, creative agency BooneOakley famously turned its back on its corporate website and moved its entire online presence to YouTube in the form of an interactive video experience. Three years on, and with social platforms multiplying, a growing number of agencies are following suit, shunning websites entirely in favor of living instead exclusively on networks such as Facebook, Twitter, Pinterest and Instagram.
Most agencies maintain presences across multiple social platforms, of course. It would be remiss of them not to, given the fact that almost all preach the growing importance of social strategies to their clients. But as new networks and platforms emerge it’s becoming increasingly fashionable for agencies to pack up from their hosting providers and set up shop within the walls of the latest social belle du jour. Nobody ever accused agencies of resisting the urge to jump on trends, after all.
Australian agency Holler Sydner recently proclaimed itself the first agency to host its entire site on Pinterest, for example. A series of pinboards make up the various sections of the site, featuring content such as news and client information, as well as examples of its work, of course.
According to Holler CEO Mike Hill, the motivation for the move was client driven. “In true Holler fashion, to get a better understanding of Pinterest (and to look at pretty pictures) we wanted to see whether we can make it work for ourselves. And then pass on key learnings to our clients,” he told Adverblog.
Omnicom Group’s Tribal DDB, meanwhile, opted for a similar approach on Instagram. Users can locate the TribalDDB_Israel account and then navigate its content using hashtags such as #workers and #clients.
Like Holler, TribalDDB said its Instagram experiment is driven by its desire to understand the potential of the platform for its clients. “The highly visual nature of the site boosts its relevance for a lot of brands,” said the agency’s head, Eilon Zarmon. “We anticipate that a number of brands will explore opportunities with Instagram and other up-and-coming social networking sites and mobile applications.”
That’s true, but let’s face it: The major advantage of such a move is the publicity it attracts. Agencies see value in being the “first” to shift their site to these new platforms, and in creating the perception that they’re tech-savvy early-adopters. Sure, it’s nice for an agency to practice what it preaches, but would it really preach for a client to ditch its site for Instagram?
The fact of the matter is that platforms such as Pinterest and Instagram simply aren’t designed to house information in the manner that agencies are attempting to use them. As a result, the experiences are often clunky and difficult to navigate, and generally harder to use than a regular website would be.
Argentinian agency Kamchatka’s Twitter-based site is a good example of this. Each “section” of its site is housed under a separate Twitter handle, which means users are required to click around a maze of confusing links, hashtags, and @replies to get at the content.
There are more successful examples out there. BooneOakley’s early YouTube-based effort works well enough and still exists today, although a non-YouTube version of its site has also been made available.
WPP’s Stockholm-based agency Ingo does a good job with Facebook, too, and features a robust portfolio of its work, contact details and the general functionality you’d expect from a website alongside the social features afforded by the network such as a wall and the ability to share content easily.
But ultimately the whole concept of ditching a dedicated site in favor of a social platform feels gimmicky and, by now, a little tired. As long as new social platforms continue to emerge, we can expect agencies to keep attempting to make it work, for the attention if nothing else, but the idea that clients benefit from the decision seems a little far fetched.
As the social platform landscape continues to fragment, a large part of the agency role is now helping clients navigate which ones to invest their time and effort in. With that in mind, it makes more sense to invest in understanding them all equally rather than doubling down on one.
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Josh Hornor likes knowing who the people who come into Wizards Video Games are. With competitors like GameStop, Wal-Mart and Best Buy all within throwing distance of the Gainesville independent store, Hornor wants the store he owns to be the informed, personable and community-ingrained alternative to big chain stores when it comes to buying and bonding over video games.
This goes beyond knowing the names and faces of people who walk through the store’s mural-covered entrance into its memorabilia-covered walls -- it’s about knowing what they like, what might interest them and maintaining a relationship that goes beyond the transaction of a video game, comic book or figurine.
A dedicated video game store owned and run by people as passionate and knowledgeable about the games they sell as the people who come in to buy them draws in people looking for an experience. But stores like Wizards are fighting to exist in an industry that’s implementing digital-driven policies and platforms.
Stores like Wizards and Buford’s Video Game Trader have seen the effects digital distribution is having on declining physical game sales, and that means stores have to find ways to survive in a digitally driven future by expanding into adjacent markets of comics, toys and other merchandise, all while trying to maintain the games-centric business and community both have accumulated in the past decade.
GameStop, the biggest chain in the business, is suffering its biggest annual loss in company history and closing down online affiliate stores. Meanwhile, game companies are pushing toward digital storefronts on services like Xbox Live and PlayStation Network hoping buyers will download games through online platforms instead of buying physical games at stores like GameStop, Wal-Mart or Best Buy. Google is developing a new streaming service called Google Stadia, which will allow people to stream video games on Google devices; Microsoft has released a new Xbox One S console that doesn’t have a disc drive to use physical games and online stores like Steam and the Epic Games Store have already rendered physical PC game sales mostly obsolete.
As these corporations look for ways to maximize their profits by cutting out the middle men, the walls are closing on physical video game sales, and for stores like Wizards and Video Game Trader, that means adapting to the shifting market or die trying.
According to Hornor, the fear that the suppliers of the store’s product have been trying to push them out has been a persistent black cloud over the store since it opened 11 years ago as a chain store called Play N Trade.
“We started as just a games store, and when we were first thinking about doing this we knew where it was headed,” Hornor said. “We’re all gamers, we’d already bought digital stuff. So we planned on the basic business model of just doing used games and new games and that was maybe going to last five or 10 years.”
While “video games” may still be part of the store’s name, Hornor estimates games themselves account for two-thirds of its merchandise. Getting to this point has been a gradual process, as the other third of items on sale at Wizards ranges from toys to comics, all in the name of expanding the store’s catalog for the inevitable digital future of video games retail.
“It was kind of a natural progression,” Hornor said. “It’s not even something we planned way in advance, we just started taking comics because we talked about it. The toy thing, we’d kind of messed with it a little bit, then we ended up working a deal out with Billy from Billy’s Toys when he went out of business and we ended up with a ton of toys. It just all kind of happened organically. I’d like to say we planned it all out 10 years in advance but we did not.”
For Video Game Trader owner Tom Sansone, who officially opened a brick-and-mortar shop in 2010 after 11 years as an online store, outmaneuvering the shift to digital has been easier, as the store primarily focuses on retro games instead of keeping up with modern games and systems. There are still modern products for sale at the store, as well as merchandise like vinyl records and board games, but much of Video Game Trader’s stock is made up of product that dates back between 20 to 30 years, like Nintendo Entertainment System games and Super Nintendo Entertainment System games — systems that launched in 1983 and 1990. This focus on older collector items and games has given products a longer shelf life, circumventing the shift to digital almost entirely, for now.
“I don’t worry about the new consoles, I worry about the old stuff,” Sansone said. “Even if the next set of consoles were completely online only, no physical format at all, I’d still have another 25 or 30 years of the business before we’d go away.”
Honing in on older games has revealed some unexpected things about the retro market, according to Sansone, which he says has given him hope that, as long as things like gaming YouTube channels maintain public interest in older games, he should have a market for older products.
“When I first opened this store I wouldn’t have foreseen that 12-year-olds are going to want to play NES games,” Sansone said. “I thought it would be the people that played them a long time ago that would want to play them again. With YouTubers and all these people playing retro games and doing historical videos on them, a lot of the customers that are buying older stuff are younger people that weren’t even alive when it came out,”
Wizards has managed to outlast the timeline Hornor originally projected, but the signs that companies like Microsoft were trying to push stores like it out of the equation have sprouted up several times over the years. When the Xbox One was originally revealed in 2013, Microsoft planned to only allow physical game discs to grant one license per device, which would prevent people from borrowing each other’s copies, as well as cut the used games market, a pillar of video game stores’ business model, off at the knees. This was quickly altered after overwhelming negative reaction from the public, which both Hornor and Sansone expected, but it didn’t stop apprehension about where the industry was headed.
“It was scary,” Hornor said. “Any time any kind of announcement like that happens it’s like ‘OK, if it’s what the hype says it is that could be a problem.’ So far most of those things haven’t really been a huge issue, but back then I was like, ‘Oh man, this is going to suck. If they actually pull this over on everybody we’re going to be going digital much faster than I was thinking.’ So fortunately it didn’t work out that way.”
Microsoft’s initial plan to cut down physical sales may have failed, but it hasn’t kept the push toward digital sales from affecting Wizards and Video Game Trader’s business in smaller, but noticeable ways. Gift cards, which are usable on online stores on services like PlayStation Network, Xbox Live and the Nintendo eShop, are for sale at most stores that sell video games, but two years ago Wizards opted to stop selling them after an uptick of interest meant the store was losing money in selling them.
“We noticed — I want to say it was about two years ago — it just started getting really crazy with people just trading in games, and all they wanted was digital money to buy digital games,” Hornor said. “We did that for awhile and I realized basically what we were doing, the way it worked out money-wise, was we were essentially giving people cash for games we wouldn’t normally give cash for. We’d not make money at all, not even breaking even on the cards. So it was this losing, downhill battle, so we decided to stop carrying cards altogether for multiple reasons.”
These gift cards are still for sale at Video Game Trader, but Sansone said he’s skeptical about whether customers are getting the value they should be getting by going digital in the first place when buying used physical games is cheaper than buying it for full-price online, which has no resale options or value.
“People are buying more digital now and not buying used,” Sansone said. “Which I don’t think is very smart for a consumer, because you’re paying the same price digitally. You’re paying $60 for the game when you could probably go get the game used, even if you’re only saving $5, saving $5 is saving $5.”
In addition to competing with online stores, Google launched the Stadia streaming service this November, which not only gives people an alternate means of playing and purchasing games, but doesn’t require a dedicated console at all. Instead games are accessible through Google Chrome browsers on computers, phones and tablets. While the notion of games you can stream is another looming threat to video game stores, both Sansone and Hornor don’t believe the technology is at the point where it can replace game sales, physical or digital. Especially not on a local level, where internet speeds can’t match the quality of playing games on a disc or downloaded onto a device.
“There’s too many people who don’t have good internet connections,” Sansone said. “Sometimes they’ll have trouble buffering Netflix, and if you can’t stream a movie you can’t stream a game. How do you stream that quality? Now 8K TVs are coming out so maybe the next generation games are going to have 8K support. How do you stream that? You can’t.”
Local internet speeds have been a detractor for people looking to make the leap to digital, which has helped slow the shift in Hornor’s eyes.
On PlayStation 4 and Xbox One, games can reach download sizes of up to 100GB. Red Dead Redemption 2 even went over this, adding up to 107GB of storage on Xbox One. The size of video game downloads, coupled with the amount of locals with poor or no internet connections, led to Wizards letting customers use its wi-fi to download large system and game updates for free. Hornor said he believes the lack of reliable internet speeds in the area will keep streaming services like Stadia from becoming the new normal, but as technology evolves and more digitally minded generations start spending their own money, Stadia will become a more significant market competitor.
“My thinking is the concept of the Stadia will not appeal to anyone that’s an adult that spends their own money right now,” Hornor said. “But if they can get all the kids on board with Fortnite-y type, viral, all-encompassing type things, and get them onto the idea, by the time they’re old enough to spend their own money, not only will the technology be better, the bandwidth and all the infrastructure that will be necessary to run something like that properly will be better.”
Changes and shifts in the industry may bring into question the practical need for stores like Wizards. But for regular customers like Austin Clements, the experience of shopping at a place with people he knows are knowledgeable and trustworthy drives his repeated visits to the store, especially when it comes to finding a place that is flexible enough to meet his needs in ways chain stores can’t.
“If I ever have an issue with a game system, disc or accessories, Wizards always lets me bring in the item for troubleshooting,” Clements said. “With a chain store, it’s immediately out of the location’s hands and I have to call a number and get the runaround.”
Clements has gone to Wizards regularly over the past three years, and said the store’s passion and personable atmosphere is something he’s never seen replicated at corporate stores like the electronics section at Wal-Mart.
“I think being a smaller store allows Wizards to create a personal experience for the consumer,” Clements said. “On weekends when I may only have two or three comics to buy, the visit can be short and sweet, but I find myself sticking around to look through previews of the upcoming month’s catalogue to geek out out about whatever’s going on in geek culture.”
While streaming, digital distribution and the lingering threat of removing used games from the equation are all dangers to dedicated video game stores, for Video Game Trader, its business model is the healthiest it’s ever been. As long as the focus of the store is older games, Sansone said he hopes it will stay that way, but isn’t ruling out a future where other merchandise one day equals the store’s video game catalog.
“The market will change, I’m sure,” Sansone said. “When we first moved down here in 2012, the market was OK, but in like 2015 the retro market exploded for us. In a couple years we’ve doubled our sales and got real popular. So if that trend stays, I’ll be good, but who knows how long it’s going to last.”
Likewise, Hornor said he’s content with where Wizards is, and that as the market changes the store will change, too, even saying that the branding of a video game store doesn’t fit where the business is going.
“Probably the next set of shirts I have made we’re going to take the ‘Video Games’ off and just be Wizards,” Hornor said. “At this point, yes, obviously we sell video games and it’s at least a full two-thirds, if not a little bit more of our overall business model. But we do so much more I don’t want us to be pigeon-holed as a video games place. That’s why I like on the marquee sign up front it says ‘games, toys and comics.’ So we just want to keep that up and anything that I feel like is in our wheelhouse that we could have fun selling and taking on trades, we’ll do it.”


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“We are very excited to work with John and his team at Jay Vee. They represent a nice niche in the marketplace that Current Audio will fit right into,” says Current Audio co-founder Sean McDermott.
Jay Vee Technologies is headquartered in Braeside, Victoria but services all of the Australian metropolitan areas.
“We are excited to be partnering up with Current Audio. The fact that their range of products are engineered and designed by installers for installers will appeal to our customers,” says Jay Vee Technologies director and sales manager John Vandenberghe.
The post Current Audio appoints Jay Vee Technologies as new Australian distributor appeared first on Connected Home – Trade.


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updated 09:40 pm EST, Mon January 19, 2009
Woz and Tim Cooks parents
Steve Wozniak, in an interview with NBC, voiced his opinion regarding Apple's immediate future in the absence of Steve Jobs, while an Alabama television news network, WKRG, had a chance to talk with the parents of the company's interim leader, Tim Cook, about their son's ascension in the business world. Wozniak defended the CEO's withholding of detailed personal information. "We should just trust him, what he says is what we ought to accept," he said, noting that people would want more and more information regardless of any explanation.
Wozniak provided positive insight for Jobs' leave of absence, noting that the experience could actually be good for the company. "What do you do when you rest, sometimes your mind floats." He suggested that the break could allow Jobs to develop "better concepts and products and ways that the future could be, the way that we live our lives ... more than almost any individual could, probably a great great thing for Apple."
The co-founder also pointed out that many products are likely in the production pipeline. The process can take years, ensuring that any new devices would remain undisturbed from when Jobs was actively taking part in the projects.
Wozniak dismissed the questions regarding Apple's long-term future without its iconic CEO as "way too hypothetical." He commented that the company has many other incredible people, "almost, in a way, followers of the Apple mentality, followers of Steve himself."
As Tim Cook again finds himself holding the reins at Apple through Steve's absence, his parents reflected about his childhood and many of the strengths that have contributed to his success. "He's the kinda fella that don't believe on giving up on nothing, he's a go-getter, a workaholic," his father said. "Anything he started, he finished. No matter what it was, if he got in it, he finished it." [Via AppleInsider]


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TrailerChix recently launched some tasty new episodes on camper cooking.
“We are seeing an increase in people living year round in travel trailers, tiny houses, floating homes, sail boats, refabs, like the popular shipping container conversions,” says Shelah Johnson, TrailerChix editor. “The challenge is the kitchens are no bigger than a galley and the demographics that are migrating to this lifestyle have no intention of giving up their entertaining lifestyle. We’ve discovered ways to blend the two quite fabulously, so there is no need to compromise.”
Looks like I’ll have to wait for July to go back for seconds when the next episode airs on Rollin’ On TV, a terrific show I just discovered that highlights camper restorations, vintage trailer rallies, and more!


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Two local auto dealerships burglarized last Sunday
YAKIMA, Wash.- Police say a local man burglarized two auto dealerships and right now police are trying to figure out why he did it.
Police reports say Derrick Black stole every key, vandalized both properties, and tried to burn down Better All Auto Sales and Brown Boys Auto Dealership last Sunday.
Douglas Bettarel has owned Better All Auto Sales in Yakima for over 20 years, and during the past six weeks his dealership has been burglarized three times.
"Approximately six or seven weeks ago, we were burglarized. He came through the side door, took a rock and bashed it through the window. Stole some computers, and did some damage inside. He got the keys to a brand new Ford Pickup truck, stole it, took off, and the only way they caught him is because he ran a stop sign," said Bettarel.
The suspect, Derrick Black, appeared in court today and is charged with 2nd degree burglary, theft of a mortor vehicle and theft by arson.
In total Bettarel has spent nearly $25,000 and still has repairs to make.
"To tell you the feeling, we're upset, we feel vengeful, we're mad and we don't have the money to pay for stuff like this," said Bettarel.
Black's arraignment will be on November 21.


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The state’s Agriculture Department is working with Delaware State University this summer to study how to best grow hemp.
The 2014 federal Farm Bill made it legal to grow hemp for study purposes and last year’s Farm Bill legalized the plant for commercial production pending regulations from the USDA.
The state Ag department is taking applications from First State farmers interested in growing up to ten acres of hemp this season for a state-run study to find the best growing methods for the new commodity.
Delaware’s Deputy Ag Secretary Kenny Bounds says growers will take detailed agronomic records to be submitted to DSU. The university will produce an analysis recommending best growing practices to farmers.
“What’s the best combination of seed and fertilizer and irrigation to get the maximum yield on this crop,” said Bounds.
Bounds says he expects DSU to finish its analysis this fall around the same time the USDA finalizes regulations on hemp production for the 2020 growing season. He adds hemp could add a boost to Delaware’s economy starting next year.
“The bottom line is to try to get another crop in Delaware we can make some money to diversify the income,” he said. “We want to make sure people spend as much time on their business planning as their agronomic planning.”
Hemp can be used as a food ingredient. It can also be made into CBD oil which is found in some cosmetics and is a natural remedy for several medical ailments. Hemp fiber can be used for many things like clothing, construction materials and paper.
Bounds says he expects it will be used locally in the poultry industry for bedding material.
Farmers can participate in the study by visiting the Delaware Ag Department website.


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Nigeria’s e-Naira has been ranked as the most developed Central Bank Digital Currency (CBDC) in the world after beating out Bahamas, China, South Korea and other countries to lead the top 10 rank.
This is according to the 2022 PwC Global CBDC index released on Monday April 4, 2022.
The reports also added that retail projects in the index are led by the Central Bank of Nigeria’s (CBN) eNaira, the first CBDC in Africa, and the Sand Dollar, issued by the Central Bank of the Bahamas as legal tender in October 2020, making the Bahamas the first country to launch a CBDC.
China became the first major economy to pilot a CBDC in 2020 with the digital yuan, and as of March 2022 pilot programs are running in 12 cities, including Beijing and Shanghai.
On the wholesale side, the leading project in the Index is the combined effort of the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BoT) to launch the mBridge project, focused on developing a proof-of-concept prototype to enable real-time, cross-border foreign exchange payments on distributed ledger technology. Also ranked highly is the work of the Monetary Authority of Singapore (MAS), with two new CBDC projects, as it continues the development of a wholesale CBDC for cross-currency payments.
The PwC report also provides an overview of stablecoins, digital currencies collateralized by, for example, a fiat currency, which can allow a bridge to be created between the traditional financial ecosystem and digital technologies.
Haydn Jones, Blockchain & Crypto Specialist, PwC UK said: “This year’s Index shows that central banks are ramping up activity in the digital currency space. Countries are at differing levels of maturity with CBDCs and each country has different motivating factors. Increasing financial inclusion, facilitating cross border payments and controlling financial crime are all factors that come into play. We expect CBDC research, testing and implementation will intensify in 2022. The success of Nigeria’s eNaira is likely to spur CBDC development in countries where financial inclusion is one of the key desired outcomes.”
John Garvey, Global Financial Services Leader, PwC United States said: “It is especially important for financial institutions to understand where central banks are with digital currencies, because ultimately CBDCs will start flowing through the payment system and start to hit bank balance sheets. Careful consultation with central banks is critical in clarifying the business case for CBDCs, from inclusivity, financial performance, and interoperability perspective. One thing that is clear, lowering the cost of payments in an economy provides value throughout the economy and for citizens. If CBDCs can ultimately enable more efficient payments, that will benefit everyone.”
On October 25, Nigeria became the first country in Africa to introduce a digital currency, with the launch of the eNaira. It has been touted as a “game-changer” that will transform commerce in the continent’s largest economy
The eNaira speed wallet app records over 360,000 downloads — 10 days after launch.


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Using a browser hack to facilitate on-the-fly RAM edits, modders now have the power to rename courses and tweak musical cues in Mario Kart 8 — and this is only the beginning.
Youtube user and Mario Kart speedrunner MrBean35000vr demonstrated these new abilities during a Twitch live stream this weekend. According to the description of the YouTube highlight reel below, the changes were achieved via a recently released browser hack and some additional code from his compatriot Chadderz, which enabled kernel reading and writing.
Simple tweaks, but MrBean35000vr says what we're seeing is the key to changing everything about the game.
All of this may not look impressive, but it's merely because we don't even know where to start; we can do anything now, anything at all! Custom tracks, custom songs, you name it. We just have to decipher the RAM and work out how.
MrBean35000vr is adamant that this work will not be used for cheating, assuring worried YouTube commenters.
Remember guys: We're not going to be encouraging cheating with this and won't let our work be used for it. Our goal is to make game mods; custom tracks, etc. Relax and enjoy what we come up with :)
I just worry that there are other, more unscrupulous folks out there who now know this can be done, and won't stop until they can do it to — or Nintendo patches the exploit once and for all.


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Face Masks Donated to Help Combat COVID-19 in India
In order to help combat the COVID-19 outbreak in India, MUJI donated 600,000 pieces of MUJI’s Reusable Organic Cotton Masks (equivalent to about 18.6 million yen) through JICA and NPO groups conducting activities in India. These masks will be distributed to local elementary and junior high school students and their guardians.
MUJI and India have been deeply connected ever since the birth of MUJI in the 1980s up to the present. There are many MUJI products that are related to India concerning the product manufacturing process or raw material procurement. MUJI has learned a great deal from India, which has a long history and diverse climate, as well. It has incorporated the wisdom of tools, materials, and lifestyles that are rooted in the daily life of India into its manufacturing.
The well-known Jute Bags, which have been selling extremely well since their launch in 2019, are also products produced in India. In addition, MUJI opened its first store in Mumbai in August 2016, and currently has four stores in the country. All these stores are being supported by many customers.
Although the spread of COVID-19 in India has gradually slowed down compared to the peak period, in light of the situation in the region where basic infrastructures and government support are still insufficient, we would like to support the lives of the local people and help them combat COVID-19 by providing face masks through JICA and NPOs, which we have been in touch with.
We will continue with such activities in the future and cherish our ties with India to help realize “a simple, pleasant life” for the local people.


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January 13: Almost 54 percent of the industries and businesses that were closed due to Covid-19 have already resumed operation, according to Nepal Rastra Bank (NRB).
A survey report on Impact of Covid-19 on the economy released by the central bank on Tuesday (January 12) states that 9.1 percent of industries and businesses are yet to resume their service.
The central bank report mentions that although all kinds of industries and businesses have reported improvement in day-to-day operation, small and middle scale enterprises are relatively lagging behind. According to the report, most of the big industries have made significant progress in resuming operation.
As of mid-December, companies involved in the trade of electricity, LP gas and water have made good progress in resuming their service. A total of 66.67 percent of such industries have started full-fledged operation while 33.33 percent are yet to resume service. During the review period, altogether 64.97 percent of wholesale and retail trade centers have resumed full-fledged operation while 31.33 percent have started partial operation and 3.39 percent are yet to operate.
Similarly, 63.64 percent of enterprises associated to the agriculture sector, forestry and fishery industries have resumed their business while 33.3 percent are partially operational.
Among the production-oriented industries, 49.04 percent are fully operational while 42.31 percent are partially open.
Meanwhile, 29.7 percent of hotels and restaurants have resumed their services to full extent while 44.44 percent of construction companies have also resumed normal operation. Similarly, 36 percent of media and communication companies have resumed their day-to-day operations.
According to the central bank’s survey, only a handful of educational institutions have resumed operation. The report states that only 11.36 percent of educational institutions are fully operational.
The report clearly shows that more than half of the industries and businesses have started full-fledged operation.
The report states that most of the businesses have been finding it difficult to manage operational cost while they are also struggling to receive additional loan.
The central bank had conducted the survey from October 28 to December 9. The central bank had surveyed 674 enterprises of 52 districts during this period.


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While rising corn prices are wreaking havoc with livestock feed prices, agricultural economists in the Midwest say robust commodity prices aren't responsible for food inflation rates that have doubled in the last year.
Corn and wheat are trading for more than $7 a bushel. Soybeans are fetching better than $13.50, and sugar prices are up more than 40 percent from a year ago. Cattle prices have also made healthy gains.
That's good news for farmers, but at the same time consumers have seen prices at the grocery store rise ever higher. In most years, food inflation -- the annual increase in food prices -- averages about 2 percent. Corinne Alexander, an agricultural economist from Purdue University, predicted food inflation will average between 4 and 4.5 percent this year.
"We are going to enter that world again where folks are getting squeezed and they want an explanation for it," she said.
But Chad Hart, an ag economist at Iowa State University, told The Associated Press that consumers shouldn't hold farmers and ranchers responsible for that increase.
"It's a whole slew of things that have influenced that price," Hart said. "When you look at the cost of our food, it is related to the cost of corn, soybeans and wheat and cattle but also the cost of oil, gas, diesel and unrest in other parts of the world."
The USDA keeps track of the amount of each food dollar that flows back to farmers and ranchers. The data runs a couple of years behind, so the last year for which figures are available is 2008. In that year, farmers received just 11.6 cents on the dollar. That's down from 13 cents 10 years ago, and from 14 cents in 1993.
Ninety percent of the retail price goes to processing, packaging, transportation, marketing, and the markup taken at each stage in the food distribution system.
"While the commodity and food prices have been going up, the share going back to the farmer has been going down," Hart said.
Unfortunately, most of what happens between the farm and the grocery store is invisible to shoppers, who too often find it easy to blame farmers and ranchers.
It's difficult, particularly when commodity prices are relatively high, to convince consumers that farmers are price takers, not price makers. And that when it comes to a trip to the store, farmers and ranchers pay the same retail, and the same markup, as everyone.


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Manhattan-based sleepwear maker Movie Star Inc. said Tuesday that it plans to merge with Los Angeles-based FOH Holdings Inc., the parent company of lingerie retailer Fredericks of Hollywood Inc.
Under the deal, Fredericks shareholders will receive 23.7 million shares of Movie Star common stock -- worth $30.6 million based on Mondays closing price of $1.29. Movie Star shareholders also have rights to purchase $20 million of new Movie Star shares.
The transaction will allow Fredericks of Hollywood, which emerged from bankruptcy in 2003, to become a public company without going through the lengthy process of an initial public offering. Executives say that the two companies will operate independently, and Movie Star will maintain its Manhattan offices after the deal closes in the second quarter of 2007.
Frederick's of Hollywood had revenue of $139 million during its fiscal year ended July 29, 2006, while Movie Star's revenue topped $51 million for its fiscal year ended June 30, 2006.
Movie Star supplies department stores and discount retailers with womens sleepwear, robes and underwear, while Fredericks sells its proprietary brand of racy lingerie in its own 130 stores. The merger will allow Fredericks to open another 50 stores during the next three years, says Thomas Rende, a Movie Star spokesman.
Investors took a shine to the news and sent Movie Stars stock price up to $1.68 per share, 25% higher than its previous 52-week high, in morning trading. The stock was trading at about $1.40 per share Tuesday afternoon.


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“Mentorship, strategic advice and connections are our main instruments in helping innovative, high-impact entrepreneurs to achieve large-scale change and become extremely competitive in the market,” said Ahmed Ezzat, managing director of Endeavor in Egypt.
Endeavor is a global non-profit NGO that aims to open the door to economic empowerment through supporting entrepreneurs in emerging countries, many of whom already enjoy considerable success but nevertheless lack adequate contacts and effective management capabilities. Endeavor supports "high-impact" entrepreneurs by offering access to a worldwide network of financial experts, business leaders and professional institutions.
Raising awareness and dispelling young people's fears about starting their own businesses are among the organization’s overriding objectives. According to Ezzat, if the next generation learns how to deal with failure and build trust, Egypt will find itself in a better position to alleviate unemployment and combat poverty.
On the occasion of World Entrepreneurship Week, Endeavor organized an event on Friday at Cairo's Townhouse Gallery entitled, “How I See it: Experiences Shared.” The event brought together a number of prominent Egyptian entrepreneurs from various fields to share their experience and motivate young people to participate in the country's economic development through small- and medium-sized business enterprises and entrepreneurship.
“Since launching, we have successfully supported all companies in our portfolio to employ more workers and generate greater profits through providing customized support," said Endeavor Communication and Outreach Officer Miral Brinjy. "Diwan bookstore, Azza Fahmy Jewelry and SySDSoft are among our seven high-growth businesses for whom we have set up advisory plans."
A recent study conducted by Endeavor revealed that the creation of only 50 large companies–employing some 500 people each–could dramatically enhance a given country’s overall gross domestic product.
According to 2010 growth indicators, Endeavor has played a vital role in improving Egypt’s economic condition by achieving 60 percent average sales growth, 30 percent average workforce growth and some US$4 million in average sales for the companies in its current portfolio.
“The idea of joining Endeavor came to Naguib Sawiris, board chairman of Endeavor Egypt and executive chairman of Orascom, while he was attending the International Economic Forum, in which the importance of promoting small- and medium-sized enterprises to boost the global economy was highlighted,” Ezzat said.
He added that US President Barack Obama’s speech in Cairo last year, in which Obama stressed the need to support small enterprises in order to face the global economic crisis, had been another factor in Sawaris’ decision.
In 1997, Endeavor opened its first branch office in Latin America. After achieving considerable success in several emerging countries–including Argentina, Brazil, Chile, Jordan, South Africa and Turkey, among others–the organization launched its Egyptian affiliate, which is managed by several prominent businessmen, in 2008.
The initiative comes as particularly good news to Egypt's would-be female entrepreneurs, many of whom are currently considering starting their own small businesses.
Women Entrepreneurs in Action is Al-Masry Al-Youm's new series devoted to women who start their own businesses from home.
Whether as a means of increasing income or as a result of extra time, women all over Egypt are employing their creative energies in different fields and organizing their ideas into small businesses. This is, of course, a global phenomenon and entrepreneurship is a trend for both genders.
In this series we look at women who have created businesses from scratch, discuss the origins of their ideas and the steps they took to realize their dreams and–for those who ventured out into boutiques or online–the catalysts for their growth.
Even greater are the numbers of women who live, day by day, with an idea that has yet to be actualized. This series is therefore fueled by profiles of women who have stepped up to launch their own enterprises. It will also feature articles about the necessary resources for starting your own business.
Are you considering starting your own business project? If so, send us your information or let us know what resources you would like us to highlight.
Email comments and queries to Al-Masry Al-Youm's Life & Style Editor: [email protected]


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Alexander Wang is venturing into territory long reserved for financial-services tenants in its search for a new office, with the fashion house reportedly weighing a move to 115 Broadway in Lower Manhattan.
The company is in talks to take 75,000 square feet at the 430,000-square-foot, neo-Gothic building – including the 21-story building’s penthouse floor. Asking rents at the property, owned by Capital Properties, are north of $60 per square foot.
Alexander Wang would move from its currently space in Tribeca, where it occupies most of a 45,000-square-foot office building at 386 Broadway, according to Crain’s. It is unclear whether the company would keep that space, where its lease expires in 2020, if it seals a deal at 115 Broadway.
Fashion industry tenants are increasingly eyeing Downtown, with a recent Newmark Grubb Knight Frank report noting there has been 850,000 square feet of space in the area occupied by fashion tenants since publishing giant Conde Nast signed up at 1 World Trade Center in 2011.
Downtown rents do a financial advantage over other office markets in the city, with average asking rents of $56.65 per square foot almost 30 percent below the Midtown average of $80.21 per square foot and nearly 10 percent below Midtown South’s $62.02 per square foot average, according to NGKF. [Crain’s] – Rey Mashayekhi


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Today Mayor Sandy Stimpson revealed the destination and purpose of a two-day economic development trip he took earlier this week. He was in Miami with Chamber of Commerce representative Mike Lee, who served as the enabler, to speak to three cruise ship operators about utilizing the Alabama Cruise Terminal.
“This was an unusual trip in the aspect that it really wasn’t an economic development trip on something brand new… I went to Miami and had five visits with people involved in the cruise business in an effort to see where we stood as far as getting a cruise ship back in Mobile,” Stimpson said during a meeting with the press today.
“Before I answer the question of whether it was promising, I think it’s important to understand where the cruise industry is. The last few years because of the onboard illnesses and mechanical breakdowns the public perception is a little negative right now. Because of that and a little bit of an economic downturn in that industry, they are all very, very aware of the need to increase profitability. The way they choose to increase their profitability is they look at all their markets, and if a ship is not being profitable, they determine if there is another market they can move it into where it is profitable.”
Stimpson said Carnival officials re-affirmed the previous administration’s claim that it left the city for profitability reasons in 2011. So what is the promise for the future, he asked?
“There is no short-term good news to say there will be a ship coming back in the next year or 18 months,” he said. “But Mobile is very much in their minds as an opportunity to relocate another ship at some point but the economics need to be in place for them to do that.”
Stimpson said he and Lee, the president of Page and Jones, met with officials from Carnival, Royal Caribbean and Norwegian Cruise Lines while they were in Miami. The trip was originally planned in January but delayed by the ice storm.
He said two of the companies were more receptive than the other and suggested one may schedule a handful of “test cruises” in Mobile before entering into any long-term agreement. He said the city would work with a company to maximize the profitability of a cruise ship’s return, but it wasn’t in the position to offer traditional “economic incentives” usually associated with such negotiations. He also said the conversations would not keep his administration from exploring alternate uses for the cruise terminal, where the city is still obligated to pay a $27 million debt service.
“Out of the three (companies) there are two where we have a real opportunity with, probably more so than the third,” he said. “But it will take some re-analyzing of the situation in Mobile before they are willing to make that move. Carnival had an excellent experience in Mobile and the personnel that dealt with Mobile had the highest remarks, so at the end of the day it’s really economics.”
Mobile is slightly handicapped, Stimpson admitted, because it is further from ports-of-call than some other cities on the Gulf Coast and requires passengers to spend more time on the boat. He said the cruise companies’ profitability depends upon ticket prices, on-board spending and fuel costs, and Carnival officials suggested on-board spending began to wane in Mobile.
Stimpson implied a company could be profitable in Mobile with higher ticket prices and advertising partnerships and profit sharing from parking or other minor sources of related city revenue. He also played up other advances in the regional economy.
“Things are a little bit different in Alabama now,” he said, mentioning several statewide economic developments that are generating new jobs. “We made the case the demographics and possibly their market is a little different than we they left.”
Meanwhile, Stimpson will be leaving next week to attend the Mayor’s Institute of City Design in San Antonio, Texas where among other things, he will be sharing ideas about how to redevelop Mobile’s waterfront. He emphasized that despite the recent conversations with the cruise industry, his administration was continuing to look at re-purposing the cruise terminal for other uses.
“We cannot afford to sit here for years hoping that some market change or some company is going to decide to put a cruise ship in there,” he said. “We need to start tomorrow, thinking about what the cruise terminal can be used for to start generating revenue immediately and obviously there is no immediate answer, but we are going to be very proactive in looking at trying to repurpose the cruise terminal.”
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