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When Abhinav Pathak was in the United States working for Goldman Sachs as an analyst, he was able to experience the Black Friday sale firsthand. The chaos inside stores and at cashier counters didn’t sit with him well. He decided that it was the worst possible retail experience. Pathak wished there was some way for the serpentine queues to be done away with.
After returning to India in 2016 and seeing the same situation—people standing in long lines at the checkout counter, only at a larger scale and on a daily basis—Pathak realized there could be an actual business opportunity in providing a solution to this problem.
In November 2016, along with Saketh BSV and Yogesh Ghaturle, Pathak launched a fintech company called Perpule that gave shoppers the option of walking into a retail store to pick up products, then complete the checkout process using Perpule’s app. There was no need for them to stand in a queue as customers could use the app to scan barcodes, see the relevant pricing information, and pay for the goods in the app.
The company partnered with a few retail chains in Bengaluru, but it wasn’t easy to convince shoppers to use an app for self-checkout at first. That was a hurdle, but there was an even bigger challenge in store for Perpule.
Although the solution was straightforward, it required deep integration with retailers’ systems. The success of their product was heavily dependent on the efficiency of shops’ own pricing and stock cataloging systems, which Pathak said weren’t updated regularly.
The team at Perpule tried to make this work for a couple years, even taking the step to update retailers’ systems, at times working for weeks at length. Eventually, Perpule decided to pivot.
“Our solution was based on the hypothesis that stores would have a tech-based system where all products would be cataloged—and regularly. The retailers didn’t have a system that could integrate changes in pricing, discounts, and offers on merchandise,” Pathak told KrASIA.
This is where Pahtak said he saw another opportunity, which he said was much more significant than developing tools for self-checkout.
“We showed them the issue with their system, which they agreed with but didn’t have a solution for. We decided to upgrade their old legacy systems, which we saw as a big bottle neck for retailers to start new initiatives. We thought we can add a lot more value there,” he said.
Another problem with retail chains’ billing systems was that they weren’t online, so the chains had no real-time analytics and data about their sales and customers. “If they want to go online, their billing and product cataloging system doesn’t allow them to do that.”
Perpule began developing and updating software that managed retailers’ catalogs and bill-printing process, and updated their inventory with the latest prices and offers. Its point of sale (POS) billing solution, called UltraPOS, is a cloud-based SaaS product that eliminates the need for bulky servers and computers at retail locations, the company said.
“When you go to the billing counter of a store, all the cashier activities such as [the cashier] punching in your phone number, scanning the products you bought, giving store discounts—all of that is maintained by us,” he said.
Pathak said Ultra POS also provides real-time analytics to these stores, and allows them to manage orders and inventory for e-commerce as well as in-store sales from one terminal.
Before pivoting to this B2B model in February 2019, the company raised USD 4.7 million in its Series A round in November 2018, led by Prime Venture Partners. Its existing investors Kalaari Capital and Venture Highway, which had already put in USD 650,000 of seed funding, also participated in the round.
Perpule’s shift helped the company scale its business exponentially. With its self-checkout products, it was present in fewer than ten cities, but the pivot to online catalog and billing took its presence to more than 400 cities in India. Perpule works with big retail chains, such as Big Bazaar, Vishal Mega Mart, More, Spar, Shoppers Stop, and Reliance Mega Mart.
In March, when India went under complete lockdown to contain the spread of COVID-19, the demand for grocery products—one of the only few things that were allowed to be sold in stores—reached new heights. And that is where Perpule saw a new opportunity.
Within 15 days, the team launched a new app called StoreSe that let users order vegetables and other groceries. “We always wanted to do home delivery of grocery products, but this plan was for three to four years later. Because of the coronavirus, the whole thing got fast-tracked,” Pathak said.
Perpule claims to have partnered with more than 2,000 grocery stores in multiple cities. The company only works with major retail grocery stores that are already its customers for the Ultra POS product. “As we already have their catalog information, it makes the job easier to execute,” Pathak said.
In the future, the co-founder mused, he would like to work with small neighborhood stores, but “with Reliance Jio entering this space, we’d rather not do it now, and wait and see how it pans out for them.”
This article is part of KrASIA’s “Startup Stories” series, where the writers of KrASIA speak with founders of tech companies in South and Southeast Asia.


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Silver Price Forecast – Silver markets continue to flirt with $ 28
The money markets continue to be very loud in general, as we see a lot of questions regarding inflation, and of course the $ 28 level is a big, round, and psychologically significant number. $ 28 has turned out to be quite significant on several occasions, so it’s not a huge surprise that we are struggling here. That being said, any pullback at this point will almost certainly attract some attention, especially near the 50-day EMA. When it comes to the US dollar, this is also worth paying attention to as the market will see a lot of negative correlations.
SILVER Video 05.28.21
At this point, I think the silver is probably going to turn to the $ 30 level, an area that traditionally means we’re going to break much higher. In fact, the two times we’ve gone over $ 30 on longer-term charts throughout history, we’ve done some serious research around $ 50. I think it could happen a little later this year, but I choose to buy silver when it’s trough because it offers a lot of value. It would be a major violation of selling pressure, so obviously we could see a flood of money coming into the market. This could dramatically increase volatility and momentum.
If we pull out at this point, I think there should be a lot of support not only at the 50-day EMA level, but also at the $ 26 level. Beyond that there is a major uptrend line and as long as the US Dollar continues to look a little soft it only makes sense for silver to win. In addition, the market will also begin to focus on the idea of resuming industrial use with the reopening of trade.
For an overview of all of today’s economic events, check out our economic calendar.

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If you’ve been shopping for a new AMD Radeon RX 480 recently, you may have noticed that the graphics card is frequently out of stock.
Which Radeon RX Series graphics card is right for your gaming rig?
Let’s take a look at the hardware performance of Sony’s upcoming console.
Let’s find out which of these cutting-edge graphics cards is the best.
We found out which recently-released graphics card is most popular among South African gamers.
The future is looking bright for gamers, thanks to Vulkan.
AMD graphics card users should be excited about the upcoming Vulkan API.
Which is the better card – The Radeon RX 480 or the GeForce GTX 970?
AMD has released a new driver update aimed at fixing the power draw issues of the Radeon RX 480.
This is when to expect AMD’s Radeon RX 480 driver update.
Early AMD RX 480 4GB retail units actually have 8GB of VRAM which is unlockable via a BIOS update.
Here is everything you need to know about the AMD Radeon RX 480 graphics card.
AMD has stated that it will fix the Radeon RX 480’s power problems with an upcoming driver update.
The Sapphire Radeon RX 480 Nitro graphics card has been revealed.
This the best value-for-money graphics card you can buy in South Africa.
ASUS and MSI have announced their first Radeon RX 480 AIB partner cards.
Check out the price of the Radeon RX 480 across various South African retailers.
A new overclocking tool which is set to launch alongside the Radeon RX 480 has been revealed.
The XFX Radeon RX 480 reference-based graphics card has been pictured during packaging and its specifications have been leaked.
The South African pricing for the AMD Radeon RX 480 has been revealed.


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Waitrose is to cut prices across hundreds of grocery staples as it battles to win back cash-strapped middle-class shoppers (The Telegraph £). Even Waitrose customers are being squeezed by the cost of living crisis, leading to the store slashing the prices of some of its own-brand basics (The Guardian).
Global sandwich chain Subway says it is exploring a possible sale of the business after almost six decades of family ownership (The BBC). Fast-food chain Subway has put itself on the menu – announcing on Tuesday it is exploring a possible sale of its business after 58 years of family control (The Guardian).
Coca-Cola HBC shares soared on Thursday after the bottler beat profit forecasts and saw sales surge against a challenging economic backdrop (The Daily Mail).
Jefferies, the broker, praised Coca-Cola HBC for being better able to navigate a tough external environment “given investments made over the past years around commercial capabilities and the portfolio”. The bottling company’s shares gushed 5% higher to £20.38, their dearest price in more than two months (The Times £).
Adverts that suggested Huel meal replacement shakes could save people money on their food bills have been banned for being misleading. As the cost of living crisis hit, one Facebook ad claimed that “Huel helps keep money in your pockets”. But Huel did not show its products were cheaper than traditional food, the Advertising Standards Authority said (The BBC).
In the battle for US fast-food supremacy, Burger King’s rivals have taken a bite out of its market share. Newly appointed chief executive Joshua Kobza needs to follow a recipe for shareholder value at Burger King and the Popeyes chain by boosting margins and paying down borrowings (The Financial Times £).
Company insolvencies rose last month as businesses grappled with higher inflation and more winding-up petitions from HM Revenue & Customs (The Times £).
In Europe’s summer drought last year, little or no rain fell on the people, land or rivers in Brittany, the second biggest food-producing region in France. Farmers described harvests as “catastrophic” and, as recently as January, individuals, farmers and factories were still being asked to use less water (The Financial Times £).


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New York CNN Business —
The Hamburglar is back at McDonald’s. But this time it’s adults only.
McDonald’s brings back its family of recognizable figurines in a new Happy Meal for adults, including toys. Beginning October 3, customers can order a Cactus Plant Flea Market Box – a Big Mac or 10-piece Chicken McNuggets, with fries and a drink. The meal is a collaboration between the streetwear brand and the fast food chain as it digs deeper into nostalgia.
The food is served in a specially designed box that should evoke memories of Happy Meals from the past. The toys include redesigned versions of McDonald’s famous mascots, including Grimace, Hamburglar and Birdie, plus a new one called Cactus Buddy.
“We’re taking one of McDonald’s most nostalgic experiences and literally repackaging it in a new way that’s hyper-relevant to our adult fans,” said Tariq Hassan, McDonald’s USA Chief Marketing and Customer Experience Office in a release.
Cactus Plant Flea Market is a streetwear brand that has been popularized in recent years by Kanye West and Pharrell. Complex has described its aesthetic as a ‘fluid and eccentric combination’ mixed with ‘playful graphics’. And its elusive origins are a major draw for the brand’s fans. Hoodies from the brand can sell for as much as $1,000 on the online marketplace StockX.
McDonald’s (MCD) has had success with its celebrity collaborations, often crediting them with driving sales. Past collaborations have included BTS, J Balvin and Travis Scott, with the latter being so popular it ran out of meals.


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Aug. 7, 2013
Aleris Reports Quarterly Loss
Cleveland-based Aleris reported a net loss of $12 million during the company’s second quarter, a reversal from the $34 million in income posted during the same period last year. The aluminum maker reported a net loss of $1 million for the first six months, compared to net income of $82 million for the 2012 first half.
Net revenues for the second quarter declined 3.6 percent to $1.1 billion. For the year to date, the company’s net revenues dipped 3.2 percent to $2.2 billion.
“As expected, we generated solid sequential improvements in performance despite continued headwinds from metal and scrap spreads and sluggishness in the global economy,” said Steve Demetriou, Aleris chairman and CEO, in recent comments to investors and analysts.
Income in Aleris’ Rolled Products North America segment declined modestly in the second quarter to $33 million based on continued pressure from common alloy imports and tighter scrap spreads, offset somewhat by a higher value-added mix of products and productivity savings, management reported.
The company’s Rolled Products Europe segment also suffered a small decline to $39 million in income due to pricing pressures and higher employee and energy costs. The RPE segment enjoyed an 11 percent increase in volumes.
Second-quarter income from Aleris’ Extrusions segment was consistent with 2012, up $1 million to a total of $5 million. Volumes increased 2 percent as increased demand for transportation and automotive products offset the effect of the continued weakness in the European economy on demand for building, construction and engineered products.
Aleris executives estimate third-quarter 2013 income will be in line with second-quarter and third-quarter 2012 levels as a result of increased demand from the higher value-added global automotive market segment and the North American building and construction industry.
Given the current LME price of aluminum, Aleris expects that scrap spreads in the North American rolled products business will continue to be tight. Weaker demand from the global aerospace industry is also expected over the next several quarters as aircraft manufacturers look to destock current high levels of raw material inventory.
“In the second half of 2013 and into 2014, we expect to see steady improvements in our results based on the contributions from growth initiatives and an expected recovery in the global economy,” Demetriou said.


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Financial experts expect outcome of sugar makers in the first three months of the year will be significant better than the same period of the previous years thanks to the world shortage caused by climate changes.
|Refined sugar shelf is empty at a HCMC-branch of the supermarket chain Saigon Co.op Mart (Photo:Minh Tri)|
The sugar yield of listed producers is estimated to reach around 216,000 tons in the first quarter, with the selling price of VND17,000 (US$0.85) per kilogram. Experts also expected the sales would be 70-0 percent of the production.
The retail price of sugar at local market moved up to a record high of VND24,000-26,000 per kilogram in the last quarter last year on the increasing global costs, with domestic production failing to meet up customer demand.
Statistics from the Ministry of Agriculture and Rural Development show the country’s output is around 1.2 million tons of sugar, while the domestic consumption is expected to of 1.5 million tons this year.
The Ministry last month set import quotas at 250,000 tons of both raw and refined sugar in an effort to stabilize the domestic price. That compares to the 300,000 tons of imported sugar allowed for 2010.
The Finance Ministry will cut import duties on sugar to 15 percent, in April, in order to ensure sufficient supply for the local market.
The current tariff on refined sugar is 40 percent while raw sugar is subject to a 25 percent tax. According to the Finance Ministry, the tax cut will also help keep domestic prices stable.
Financial experts expected that with the increasing price combining with the output capacity and the marginal return rate, listed sugar producers including Bourbon Tay Ninh, Lam Son Sugar and Bien Hoa Sugar would likely to gain a booming outcome in the first quarter.
Sugarcane crops had been damaged by the Cyclone Yasi in Australia, with initial estimates suggesting about 15 percent of the national crop could be lost, according to Reuters. The industry estimated that one area, accounting for about a third of the crop, had suffered up to 50 percent losses. Australia is the world’s third largest raw sugar exporter.
The chairman of Australia’s main sugar industry group Canegrowers said up to a quarter of the sugar cane crop in the state of Queensland may have been lost.
“Given there has been such a wide area of impact from the Cyclone Yasi in Australia we are looking at losses on the outer edges of 5 to 10 percent and close to the center of the cyclone up to 50 percent of the crop could be lost,” Alf Cristaudo told Reuters in an interview.
Latest report of the ABN Amro NV and VM Group showed the total sugar output in the harvest season of 2010 and 2011 reached 162.3 million tons worldwide, failing to meet up the expected demand of 165.3 million tons.


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Ever since it was shown as a concept back in 2012, a Range Rover Evoque convertible was expected to reach production eventually. Land Rover has now confirmed the production version will go on sale in 2016.
No other details have been released at this point. The convertible will be based on the facelifted Evoque, which launches later this year. Presumably it share the hardtop’s Igenium and diesel and Si4 petrol engines.
The Evoque convertible will be built alongside its coupe and five-door siblings at Land Rover’s factory in Halewood. It is unknown how much work has gone into strengthening the bodyshell, or if the loss of the roof has compromised its off-road ability. Though going by the images, shot in the tunnels of London’s Crossrail project, which show it driving along the tunnel sides and crossing a water splash, it remains very capable.
We’ll learn more in due course.


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LeBron James Favoring Old Nikes McIlroy, Rooney Star In New Nike Ad Nike Opts To Extend Deal With Ohio State Nike, Adidas Going Camouflage Under Armour Shuffles Management Converse Hires MediaVest As Ad Agency Nike Stalled On World HQ Construction Oregon To Wear Pink Nike Helmets Converse Conducting Media Agency Review Nike Expects Revenue Of $36B By '17
SBD/27/Sponsorships Advertising Marketing
Published February 27, 1995
Nike Chair Phil Knight sold approximately $12M of his Nike stock on Thursday according to a BLOOMBERG BUSINESS NEWS report (Portland OREGONIAN, 2/24)....FROM BRANDWEEK: Colgate-Palmolive and Western Union will help New Line Home Video leverage a groundswell of public and industry acclaim into a cross-promotion for the home video release of the documentary "Hoop Dreams." Colgate-Palmolive will bundle its Speedstick deodorant and Afta aftershave in support of the movie's release. Western Union will place displays for the movie in as many as 5,000 retail outlets....Nestle will continue its ongoing Baby Ruth tie-in to Babe Ruth's 100th anniversary with an instant-win game this summer offering memorabilia signed by the Babe (BRANDWEEK, 2/27 issue). In other Babe news, MLBP announced that the Babe Ruth teddy bear which was introduced in the Spring of '94 was sold out as of November '94, but limited editions of the bear are available at collector stores (MLBP)....Apparel-maker VF Corp. is profiled in the current issue of BUSINESS WEEK and is commended for its delivery system to retail outlets (BUSINESS WEEK, 3/6 issue)....A new device that allows for aerial photos to be taken from the ground is profiled in the CHARLOTTE OBSERVER. Tony Powers, founder of Heaven's View, has been experimenting with "floatography" at the site of the new Carolina Panther stadium (CHARLOTTE OBSERVER, 2/27).


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Regenerative recycling technology to enable a circular future
With 53MLN tonnes ending up every year to landfill, textile waste has become a big issue apparel and fashion industries needs to address. Only 1% of textile waste is recycled back into textiles - the only solution is to move towards circular model. Worn Again Technologies is one of the leading companies in enabling this transition thanks to its regenerative recycling technology. Cyndi Rhoades, founder of the company, will talk about the process, the industry, the challenges and will recommend call to actions.


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George Mason High School Class of 1995 grad Jared Agnew has launched a Kickstarter campaign for a new product aimed at protecting children from the dangers of the internet.
Agnew and co-founder Jere Simpson – who have spent the last 20 years building internet security systems for organizations like the FBI and Navy SEALS – have created Netpure, a secure, parent-controlled wireless router. The Kickstarter campaign began on Tuesday and seeks to raise $80,000 by March 24. A pledge of $110 or up secures a Netpure router which begins shipping in April.
More information on the router can be found at netpure.com while the Kickstarter campaign can be found at kickstarter.com/projects/netpure-kid-safe-web/netpuretm.


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In her recent annual report for the internet industry, Mary Meeker noted that “China is catching up as a hub to the world’s biggest internet companies.” Nine of the top 20 internet companies in the world, by market valuation, are Chinese. That puts China nearly on a par with the United States, where the other 11 come from.
This has huge ramifications for New Zealand’s technology sector. In particular, it opens up opportunities for our local startups to expand into China. Maybe even be acquired by one of those big nine Chinese companies.
Indeed, that’s already happening. As noted in my column last week, China’s second-biggest internet company Tencent has made significant investments into our gaming industry. It’s now the majority owner of Grinding Gear Games and a 25 percent owner of RocketWerkz.
Of course to become an acquisition target, you first need to establish a presence in the market. Before being acquired, Grinding Gear Games worked for two years to create a Chinese version of its game Path of Exile. It not only changed the language but also the content of the game, mainly to address censorship issues. The Chinese version launched last August, which paved the way for Tencent to buy a controlling stake in Grinding Gear Games this year. . . .


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Profits of Sri Lanka’s lubricant market leader, Chevron Lubricants (Lanka) PLC halved during the December quarter (4Q18) amid sluggish lube sales, the year-end financial accounts released by the company showed.
The earnings for the October-December 2018 period fell to Rs.1.11 per share or Rs.267 million compared to earnings of Rs.2.29 a share or Rs.549.2 million reported for the corresponding period of the preceding year.
The revenue fell 21 percent year-on-year (YoY) to Rs.2.2 billion. The company however was able to keep its costs under check at Rs.1.5 billion, down 13 percent YoY.
Operating profit fell 50 percent YoY to Rs.368 million.
Chevron Lubricants, the blender and marketer of Caltex-branded lubricants across the country, has seen a steady decline in its market share for years, as players with price advantage gradually grabbed the share from the relatively expensive Caltex products.
Chevron Lubricant’s market share during 3Q18 fell to 37.23 percent or 6,127 kilo litres from 38.38 percent of 6,498 kilo litres in the corresponding quarter of 2017.
The company’s market share has nearly halved from its 2009 peak of 71 percent.
Sri Lanka roughly has a 65,000 kilo litre lubricant market.
With the proposed liberalization of the lubricant market, the margins and the market shares of existing players are expected to come under pressure further going forward.
Meanwhile, for the year ended December 31, 2018 (FY18), Chevron Lubricants reported earnings of Rs.8.28 per share or Rs.2 billion compared to Rs.10.64 per share or Rs.2.5 billion reported for FY17.
The revenue for the year under consideration fell 2 percent YoY to Rs.10.9 billion, while cost of sales rose 7 percent YoY to Rs.6.8 billion.
Chevron Ceylon Limited has 51 percent of the company’s issued shares.
Chevron Lubricants is in the business of importing, blending, distributing and marketing of lubricant oils and greases. Chevron Lubricants Lanka recently bagged government contracts to supply to three power stations and to the Sri Lanka Transport Board (SLTB).


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Michael Whitby has been announced as the new group procurement director. Whitby will replace the interim group procurement director Mark Swyny who has been in this position since August this year, following the departure of Caroline Booth.
Previously Whitby held the position of purchasing chief of Best Buy Europe. Best Buy Europe are a consumer electronics organisation and he was in post for 3 years.
Whitby has previous procurement roles held at as BAA’s group supply chain director, sourcing director at both Barclay’s Bank and Reuter’s and head of IT purchasing at Natwest.


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Bethpage Federal Credit Union business banking group reveals results from 2013 small business survey research
BETHPAGE, NY (March 6, 2014) – Long Island small business executives report their businesses had a good financial year in 2013, citing expansion and increased sales, with anticipated continued growth for 2014. Yet despite the health of small businesses, business executives’ moods remain less positive about the national economy. These are some of the key findings revealed by small business owners and executives on Long Island, who recently participated in a study sponsored by Bethpage Federal Credit Union’s Business Banking Group and conducted by Stony Brook University Center for Survey Research.
In the 3rd Annual Bethpage Business Banking Group Long Island Small Business Survey, 604 small businesses with annual revenues up to $10 million spoke out frankly about topics ranging from the personal aspects of business ownership to thoughts on expansion versus downsizing. The survey, which included a unique set of questions devoted solely to business owners, provides valuable insight into subjects such as the health of small businesses, confidence in business and government leaders, sales projections, family involvement, personal aspects of business ownership and more. Highlights of the research conducted in the last quarter of 2013 include:
Long Island Businesses are Expanding and Seeing an Increase in Sales
– 36% of business executives say their businesses expanded in 2013, a substantial increase from 2012, when just 26% said their businesses expanded.
– Continuing the trend, a growing number of executives (35%) expect their businesses to be in better shape financially in the next six months, a steady increase from the past two years.
– 41% of business executives say their year-end 2013 sales would be higher than the previous year, up from 31% in 2012.
– 73% of business owners say they are planning to expand their workforce in the next five years and of that amount, 40% said they’ll expand by 50% or more.
“If the Long Island economy is going to continue to see growth, it’s paramount that we support and address the concerns of local businesses in every way we can,” said Kirk Kordeleski, President and CEO, Bethpage. “We are very pleased to know that Long Island small businesses saw marked growth in 2013, with the anticipation of continued growth for this year. Consumer confidence is certainly on the rise.”
Executives More Optimistic About Local Business Trends Than National Economy.
– A growing amount of business executives say that business conditions on Long Island are improving, with 36% citing conditions as fairly or very good, up from 32% last year and just 19% in 2011.
– Just 12% of business executives have confidence that D.C. government officials will make progress this year in improving business conditions in the country – that’s a marked decline from 27% last year.
– The group that most executives are relying on to help improve business conditions is Long Island business leaders – 62% of Long Island business executives place the most confidence in Long Island business leaders in helping to improve local business conditions, an increase from 55% last year and 49% in 2011. This is the only group of leaders that is seeing a steady increase in confidence over the past three years.
“It’s very important that we engage Long Island’s small business community about their business needs, successes and expectations,” said John Rizzo, Chief Economist, Long Island Association. “With consumer confidence on the rise, increased spending and job growth, the local business community holds much promise for the Long Island economy.”
Adaptable and Flexible Employees Becoming Increasingly More Important
– An increasing amount of business executives (64%) say that having employees who are adaptable and flexible is the most important quality they value in an employee, up from 56% last year.
– With that said, most business owners (46%) are not themselves becoming more flexible, offering employees the same amount of flexibility as they did five years ago.
– More than half (55%) reported having staffers who have the ability to multi-task as most valued.
The Majority of Small Business Owners Have Changed the Way They Communicate with Clients; However Most Not Using Social Media to Communicate
– More than half (56%) of small business owners have changed the way they communicate with clients and customers in the last five years.
– However, most businesses are still not using social media tools like Facebook, to communicate with clients and customers (65%).
– Also, social media skills is the least important quality (14%) executives value in their staff, a slight increase from last year (10%).
– Yet, when executives do use social media (35%), 64% say it’s helped increase sales.
– A growing number of small businesses (35%) are hiring outside professionals to help them achieve their goals, up from 22% in 2011.
– Of those hiring these outside professionals, more than half (51%) are hiring outside accounting and financial professionals, an increase from 44% last year, and just 17% are hiring advertising and marketing firms.
“Bethpage’s newly formed Business Banking Group is vested in helping local businesses reach their financial goals and get the most they can out of every dollar they earn. This means giving small businesses more access to capital and funding loans to support their continued growth,” said Lawrence Jones, Vice President Commercial Lending and Business Lending, Bethpage.
Business Owners Confirm – They’re Stressed Out
– The same number of business owners in 2013 (29%) report working 60 hours per week as did in 2012, and half (50%) spend 51 hours or more – again, the same amount as in 2012.
– Yet, stress and financial pressure is now reported as the worst personal aspect of owning a business (51%), up from 46% in 2012 and just 13% in 2011.
– Stress and financial pressure replaces long work hours as the worst personal aspect of owning a business which was cited as the worst in 2011 with 39% and 17% in 2012.
– Most male business owners planning changes to their business strategies for 2014 (30%) say they want to expand services, versus most female business owners (23%) who want to invest more in advertising and marketing.
The research for the Bethpage Long Island Small Business Survey was conducted under the direction of Leonie Huddy, PhD., a Professor in the Department of Political Science at Stony Brook University. “The health of Long Island small businesses continues to improve. It was better in 2013 than in 2012, and a lot better than in 2011,” said Huddy. “Small business executives are optimistic about their own company but continue to worry about the national economy and have little confidence that the federal government will take effective action to improve business conditions.”
Bethpage is an ardent supporter of Long Island’s small business community and is committed to helping Long Island businesses reach their financial goals. Comprised of a specialized teams of business banking experts, the Bethpage Business Banking Group works closely with Nassau and Suffolk small businesses to address their business banking needs. Whether it’s to provide capital to small businesses, fund loans, aid in expansion, or provide the only free checking account that pays interest on every balance, the Bethpage Business Banking Group delivers the same business banking expertise and products as the large banks, but without the big fees.
Bethpage Federal Credit Union is a not-for-profit financial cooperative, existing solely to serve its members and has experienced rapid growth in recent years to become a strong alternative to banks. Bethpage was approved for the largest federal community charter in the U.S. in 2003 and now is New York State’s largest credit union and Long Island’s primary community financial institution with 232,000 members, 27 branches and 60 shared service center locations throughout Nassau and Suffolk Counties. As a financial cooperative, Bethpage offers the best-in-market rates, low fees and world-class service, and a full menu of personal and commercial financial services.
Bethpage maintains branch locations in Bay Shore, Bay Shore King Kullen, Bethpage, Central Islip, Commack King Kullen, East Meadow NuHealth, Elmont, Farmingdale, Freeport, Glen Cove, Hempstead, Huntington, Levittown King Kullen, Lynbrook, Massapequa, Melville, Mineola, North Babylon, Patchogue, Port Jefferson, Riverhead, Seaford, Smithtown, Roosevelt, Valley Stream King Kullen, West Babylon and Westbury with over 425 surcharge-free ATMs in King Kullen, CVS Pharmacy and Costco locations throughout Long Island. For more information, call 1-800-628-7070 or visit www.bethpagefcu.com.


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XP Life Extended Again
Microsoft has again pushed back the the date in which computer manufacturers are allowed to receive copies of Microsoft Windows XP to May 2009.
Windows 7 is expected to be released some time in 2009, which means Microsoft has extended the fan-favorite XP shelf life far enough for users to completely skip over Windows Vista, which has not been popular among the masses as was discussed last week.
Many consumers have still been choosing to install XP on their new PCs over the more recent Vista. Windows 7 has been long suspected to be released in 2010, but with such a bad stigma on the shoulders of Vista, many feel Microsoft will be releasing Windows 7 in the upcoming year.
Windows 7 has received favorable pre-reviews from sources that have received leaked alphas of the OS. This is the same situation with Vista, which received a good share of praise before it was even released. Much of the press for Windows has praised the new design and software tools, rather than promoting a more stable OS that has fixed the issues people have reported with Vista. Windows 7 was codenamed Vienna, but that has faded away as Microsoft has been trying to separate itself from anything that can be associated with Vista.
Microsoft planned to officially retire Windows XP in January 2008, but has lengthened the life of the OS several times by extending licenses for manufacturers who have seen many of their customers request XP to be installed on their new systems. There is a clause in Vista agreements that allows manufacturers to downgrade Vista computers to run XP, which would have expired by now if Microsoft hadn’t extended it.
If you still run XP and have been feeling pressure to move on to Vista, just hold on a little longer. Windows 7 is on its way and it looks like Microsoft will be supporting XP until the Windows 7 release.


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URBANA, Ohio — Rittal Corporation has announced plans to create a world-class customer-centric U.S. headquarters in suburban Chicago, IL, to better serve its United States customers. Rittal is the largest company in the owner-operated Friedhelm Loh Group based in Germany — with 11 production sites, 64 subsidiaries and 10,000 employees worldwide. The company will open the doors of its newest North American location August 22, with a state-of-the-art Customer Center of Excellence including a technology and training center, and expanded showroom going live in the Fourth Quarter of the year.
“We found a home in The Woodfield Corporate Center in Schaumburg, IL, and intend to be fully operational by September,” says Douglas Peterson, President of Rittal Corporation, United States. “The initial phase will include relocating the company’s executives, sales leadership, marketing and product management staff.”
The move toward one of the most important geographic and industrial centers of the country positions Rittal to be closer to its diverse customer base in North America. It is part of the company’s international expansion projects – projects taking place not only in the United States, but in China, India and Germany, as well. These projects also include a multi-million dollar upgrade to several production lines in Rittal’s Urbana, Ohio production facility, designed to provide greater capacity in manufacturing the Rittal standardized products and systems for its vital North American markets.
“With innovation as a driving force, Rittal is a technology leader worldwide in the manufacturing and development of enclosures, power distribution, IT infrastructure, software and service,” points out Friedhelm Loh, owner and CEO of Rittal.
Among the focal points of the Chicago facility will be a customer training center including expanded teaching resources, product testing facilities and a large-scale product showroom where customers can have a hands-on experience with the entire Rittal System.
“Getting closer to our customers in order to become their first choice is a significant goal now and in the years ahead,” continues Peterson. “Moving to suburban Chicago with its proximity to one of the world’s most accessible airports is an excellent step toward making those critical connections easier,” he adds.
Rittal is actively recruiting in the Northern Illinois region to tap into the extensive pool of sales, marketing and product professionals the area has to offer.
The new suburban Chicago headquarters joins the Urbana Manufacturing Center of Competence and distribution centers in Texas and Nevada as Rittal expands its commitment to North American customers from coast to coast.Tagged with tED


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Two months after a cover story on the merits of early cancer detection I was a little taken aback when I saw two ads for cigarettes in the March issue of WIRED. It feels like years since I've seen such ads. The other thing that struck me was how few advertising pages were in the issue.
I'm not sure whether the cigarette ads are the result of WIRED suffering from the financial crisis and taking any advertiser they can get or whether the cigarette companies deliberately sought advertising in WIRED in some sort of return fire in their ongoing PR wars. And there's a third option: that when times get tough, cigarette and alcohol companies make themselves available to help fill the void.


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Written by A Better Balance’s team of top women’s rights and civil rights lawyers, The Working Woman’s Pocket Guide offers an easy-to-use list of resources and answers to pressing issues New York women still face in the workplace.
“New Yorkers will no longer have to choose between caring for their families and their paycheck,” said Dina Bakst, co-founder and co-president of A Better Balance. “This is a profoundly historic moment in the fight for fairness and justice for New York families. "
NEW YORK—Less than two months after releasing its report, “Pointing Out: How Walmart Unlawfully Punishes Workers for Medical Absences,” A Better Balance yesterday filed additional charges of discrimination with the…
Two former Walmart employees who suffered from pregnancy discrimination brought a class action lawsuit against Walmart last Friday claiming that the retail giant discriminated against thousands of pregnant women across the country. A Better Balance, National Women’s Law Center, Mehri & Skalet, and Sedey Harper & Westhoff filed the complaint on behalf of the employees in the U.S. District Court for the Southern District of Illinois.
Following confusion since the 2015 U.S. Supreme Court pregnancy discrimination case Young v. UPS, the bipartisan federal PWFA is needed more than ever to ensure fairness for all pregnant workers.
We urge Tyson to effectively implement these commitments, and for the rest of the industry to follow suit. We also urge Tyson and the rest of the industry to take action on providing job-protected paid sick days that workers can use for themselves and their families, an issue that Tyson so far has only said it will study.


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While LG is gearing up for the launch of the flagship LG G4, the company may be working on another handset called the LG Stylus.
According to sources, LG is working on a new smartphone called the LG Stylus bearing model number LS770. The press renders of the phone have leaked, giving a first look at the upcoming handset. Looking at the renders of the device, the handset clearly seems to be a competitor for the Samsung Galaxy Note 4.
While there is not much information available about the LG Stylus, sources in the know claim that the handset would flaunt a 5.8 inch display along with the regular power and volume keys on the back surface. The device is said to be powered by a Qualcomm Snapdragon 610 processor with a 3000 mAh battery. There is still no word on the possible launch dates.


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Archive for A123 Systems
You are browsing the archives of A123 Systems.
You are browsing the archives of A123 Systems.
Chinese bidders apparently see more value in A123 Systems than the leading United States suitor, and, according to an article in the New York Times and in reports in other business news outlets, will probably walk away with most of the lithium battery maker. The paper reports that Wanxiang Group’s offer of $256 million for A123’s three manufacturing facilities and its commercial businesses top what Johnson Controls felt the company is worth.
Interestingly, while it appeared until now that Wanxiang and Johnson Controls were going to be the only ones to enter the bankruptcy auction, the Times reports that a Japanese company, NEC Corp., and a German company, Siemens AG, also submitted bids.
One significant asterisk to the deal is that the portion of A123’s business related to government/military work has been carved out and will be sold to Navitas Systems, a company based in Woodridge, Ill., for $2.2 million. Navitas implies that it is already involved in the production of lithium batteries and energy systems for military applications, but it seems relatively new (and its web page has only been online for a few months). Most of the people involved with Navitas used to be involved with an entity known as MicroSun Technologies, which was recently sold to Palladium Energy.
The carve out is necessitated by concerns raised about the loss of certain intellectual property and “sensitive military technology” to non-US firms. In late November, a nongovernmental policy group, the Strategic Materials Advisory Council, publicly raised objections to the sale of A123 to Wanxiang. The SMAC’s website describes itself as “a coalition of former US government leaders and industry experts who have significant experience with strategic and critical materials” and says the group “was formed with the clear objective to promote policy solutions that ensure continued access of both US industry and military to those materials needed to support a robust 21st century economy and military.” SMAC urged Treasury Secretary Timothy Geithner to block a sale to Wanxiang. Even with the proposed Navitas carve out, SMAC is unhappy and today called upon members of the Treasury Department’s Committee on Foreign Investment in the United States to block the deal. The CFIUS must approve the bankruptcy agreement (as must the Delaware Bankruptcy Court judge assigned to oversee A123’s future) it’s not clear to me if anyone has mustered the financial, legal and political arguments to derail things.
Wanxiang, which has a US affiliate and apparently employs several thousand here, it is still committed to following through on production agreements with GM and Fisker Automotive.
Johnson Controls officially withdrew itself from the bankruptcy auction Dec. 9, noting that it “declined to match a higher bid.” Alex Molinaroli, president, Johnson Controls Power Solutions, says, “While A123’s automotive and government assets were complementary to Johnson Controls’ portfolio and aligned with our long-term goals, Wanxiang’s offer was beyond the value of those assets to Johnson Controls.”
It isn’t surprising that companies in these situations value the same property differently. Typically, bidding companies try to estimate the value of physical and intellectual assets, and then add the net value of future revenues. In particular, valuing future revenue flows can vary greatly from company to company, based on the possible “fit” of the acquired business, assessment of risks, proprietary market insights, etc.
Meanwhile, Reuters reports that A123 will not get the remaining $116 million that was the balance of a $249 million DOE grant. Reuters says bidders for the company were aware that grant payouts were to end.
The rise and fall of A123 Systems has been something of great interest to me and to ACerS, in no small part because of the important role one of our members, Yet-Ming Chiang, has had in the enterprise. Also, I, and many others I know, followed the A123 developments (see, for example, my 2009 interview with Chiang) because it was a story of how breakthroughs in ceramic materials science and engineering (i.e., lithium-ion phosphate energy storage) might spur a disruptive and transformative era in transportation.
But, while it made a good story, the business reality has been painful to observe. The general decline of A123 hasn’t been rapid, but the speed of the developments over the past few weeks (the desperate purchase proposal with the Wanxiang Group, the collapse of that purchase agreement and the subsequent bankruptcy filing) has been dizzying.
The latest controversy has to do with a proposal put in front of the bankruptcy court judge yesterday to give $4.1 million in bonuses to nine “key employees” that would be dependent on the how the sales of A123 assets goes. It is unclear, at least to me, who these nine are.
Regarding the sales of the assets, the relatively good news for investors is that at least two companies are vying to gobble up what is left: the aforementioned Wanxiang Group and Johnson Controls. Wanxiang’s initial effort in August to buy the company unraveled, according to some press reports, for political reasons as well as for unresolved questions related to A123’s liquidity. Johnson Controls eventually became A123’s suitor-of-choice when bankruptcy became the only option, but the bankruptcy judge so far has insisted that Wanxiang be allowed to compete with Johnson Controls. Dow Jones’ Bankruptcy & Debt Blog has a good story on the “bidding war” and more may be known about the way forward after the next court hearing Oct. 30.
In the meantime, there has been a lot of debate about whether A123’s fate was determined by flawed technology, flawed business plans, national political and policy shifts—or a combination of all of these. My own belief is that A123 failed because the company made its largest bet where it used Chiang’s technology with a mismatched application: automobiles. My impression is that A123 never came close to making a profit with its deals in the fickle PHEV market (e.g., Fisker), which is highly influenced by government policy and the general state of the economy (which has real and psychological affects on discretionary spending). Despite an arguably superior rechargeable battery system for cars, market experts, such as Lux Research, had been warning for years that if advanced battery makers wanted to pursue transportation-related sales, the only profitable route was through selling batteries for e-bikes for use in Asia, where there was much pent-up demand.
Ironically, my understanding is that A123 was making a profit (or was close to breaking even) in one area: Enormous “Hybrid Ancillary Power Unit” battery systems purchased by utilities to stabilize power grids. Fabricating and selling batteries as tractor-trailer-sized units had to have been much more lucrative and less susceptible to shifting purchasing and policy winds, and all indications have been that utilities will need more and more of these units as Smart Grid construction builds out. I have always been baffled about why A123 never split off this division where it clearly had a strategic edge on the competition. It will be interesting to see what happens to this work now.
The only other possibly successful outlet for A123 technology was in microhybrid (”start-stop”) systems that are now becoming more commonplace in a variety of sedans, but the company’s professed interest was probably too little, too late.
Time will give everyone better perspective about just what went wrong, but here are some of the interesting opinions being offered now:
[T]he big auto makers know better than anyone that the century-old dream of running cars on batteries will remain just that for most consumers unless somebody can re-order what’s known about the limits of storage battery chemistry and deliver batteries with far greater range at far lower cost. From a 2009 report commissioned by the Obama Energy Department to independent analyses such as a recent Sanford Bernstein study with the title, Don’t Believe the Hype,” the conclusions are the same: Current electric vehicle battery technology doesn’t stand a chance in head-to-head competition with state of the art internal combustion engines.
— Joseph B. White, “A123’s Flop: Science Trumps Politics”
“We believe that A123’s automotive capabilities are a good complement to our existing portfolio and will further advance Johnson Controls’ position as a market leader in this industry.”
- Alex Molinaroli, head of the power systems unit of Johnson Controls, speaking to the New York Times
But that flood of money would sow the seeds of A123’s fall, enticing it to ramp up commercial production too quickly - far faster than the market for electric vehicles would grow. As the economy struggled, gas prices moderated, and a national energy policy failed to gain traction, A123 burned through cash to finance stubbornly high production costs for a market that never really materialized.
— Erin Ailworth, “Cash-fueld climb led to fall of A123 Systems”
“They were on the knife edge for a while, and they just slipped,” said Andrea James, a senior analyst that tracks A123 for Dougherty & Co. LLC in Minneapolis. The company “bet its costs would come down and they just didn’t come down quickly enough.”
— quoted by Erin Ailworth, “Cash-fueld climb led to fall of A123 Systems”
A123 was killed off by their own success. Being the most successful supplier of batteries for electric vehicles at the wrong economic time cost them. … A123 had about twice the forecast order from the automotive industry than what was finally purchased. To get those orders, you have to show them you have factory capacity and supplier contracts to produce that volume. … [A]ll their contracts contain clauses which allow them to shape their order up or down, depending on the actual run rate of their factory. A123 probably would have had a substantial amount of factory capacity and work in progress. And then the orders were cut back, maybe as much as 30 percent to 50 percent. I have no indication A123 had any technical issues.
— Richard Smith, Fullpower Principal, quoted in “Energy Storage Experts Explain What Happened at Battery Firm A123″
Brilliant scientists can develop the chemistry and the engineering behind these cells, but manufacturing them is a completely different thing. That requires a completely different set of expertise. Just because there were some very brilliant minds that developed the cells, that didn’t in any way guarantee that they would be manufactured to the proper standard, and obviously they weren’t.
— Ed Kim, analyst at AutoPacific Inc., quoted in “A123 Filing Shows Struggle Extending MIT Smarts to Factory Floor”
Despite A123’s recent quality issues, its lithium-ion phosphate chemistry continues to be viewed by the auto industry as one of the strongest around.
— Rod Lache, analyst at Deutsche Bank, quoted in “A123 Filing Shows Struggle Extending MIT Smarts to Factory Floor”
Brian Warshay, an analyst with Lux Research in Boston, told me this week the Chapter 11 filing actually facilitated the company’s sale to Johnson Controls, a larger company that will now have the time to make its electric car technology work. “The technology is good,” he said. “They made significant strides. The problem was the cost of production was too high for the current market, except in small niches.” The energy density of lithium-ion batteries, like those at A123, remains one-tenth that of gasoline, notes Warshay, and that’s why electric cars are not making the kind of market headway that hybrids like the Toyota Prius are. But there is work being done on higher-density battery technologies, and on cheap low-cost, low-density battery materials that can store solar and wind power for later use on the electric grid.
— Dana Blankenhorn, “After A123, Battery Makers Take Stock”
“… we were moving away from our strengths. The more we moved away from power and towards energy, the less of a technical advantage we had.”
— Bart Riley, CTO of A123, as quoted in “Pioneering Batter Maker Files Bankruptcy”
Most all of us in the ceramics field, to greater and lesser extents, have been rooting for A123 Systems to succeed, so its been painful to see the company in recent months entering what appears to be a death spiral. Yesterday, with the release of A123’s Q2 financial reports and the official announcement of a Chinese company taking a major ownership stake in the enterprise, the direness of its straits became fully stark.
In an online report, A123 Systems said, “Total revenue for the second quarter of 2012 was $17.0 million, a decrease of 53% from $36.4 million in the second quarter of 2011. Within total revenue, product revenue was $11.5 million, a 61% decrease from $29.6 million in the second quarter of 2011, and services revenue was $5.5 million, a decrease of 19% from $6.8 million in the second quarter of 2011.” Ouch.
The profit/loss picture was even uglier: “Gross loss was ($29.2) million in the second quarter of 2012, compared to a gross loss of ($17.5) million in the second quarter of 2011.”
Clearly, this was an untenable situation and something had to give. Thus, it is not surprising that the company simultaneously announced that it had reached a “nonbinding” agreement with China-based Wanxiang Group Corp. that would permit the company to invest up to $450 million in A123 Systems, with the option of an additional investment of $175 million. (Practically speaking, the “nonbinding” adjective means Wanxiang may decline to make the investment if circumstances and facts change, and the two sides “are currently negotiating definitive documentation.”)
A123’s announcement describes the Wanxiang Group as “China’s largest automotive components manufacturer and one of China’s largest non-government-owned companies.”
A123 CEO David Vieau says in the announcement that the agreement
“… is the first step toward solidifying a strategic agreement that we believe would remove the uncertainty regarding A123’s financial situation. A substantial capital investment from Wanxiang would not only provide financial stability to A123 as we continue to grow, but it would also align us with a large, successful global brand in the automotive and cleantech industries. Wanxiang has a successful track record of operating in the US with significant employment and commitment to good corporate citizenship, and we expect that a strategic agreement with Wanxiang would help enhance our competitive position in the global marketplace, especially in China.”
Will the investment work? The WSJ reports that Wanxiang “has been an active buyer of distressed auto-parts makers for nearly a decade.”
But, I don’t think it is going to go well for the Obama administration and the DOE, who provided a grant to A123. The development is going to be a headache, and is sure to be spun as something along the lines of Solyndra 2.0.
The short version of the story is that A123 is in something of a scramble mode thanks to the problems with Fisker Automotive’s DOE loan guarantee.
The story first came to light on Feb. 9 when, according to a Forbes report, Wunderlich Securities analyst Theodore O’Neill reduced his rating of A123 stock in reaction to a DOE loan guarantee to Fisker being put in hiatus.
So, what’s up with Fisker Automotive?
Fisker is a California-based start-up company that makes luxury hybrid cars and was started in 2007 by Henrik Fisker and Bernhard Koehler. In 2009 it received a $528 loan guarantee from the DOE, of which it has received $193 million so far, according to an online Reuters article, to support development of its first model, a luxury vehicle dubbed Karma. Also in the works is a sedan called Nina. In an email, FA spokesman Russell Datz says the company actually received two loans totaling $528.7 million: one for $169 million to support the Karma program, and the remainder to support Project Nina. He says the company has drawn all $169 million for the Karma and about $24 million for Project Nina.
The company built about 1,500 Karmas and delivered 400-500, including its first car, which went to investor and ecocelebrity, Leonardo DiCaprio, in July. Prospective customers must indeed have lots of (monetary) karma to purchase a Karma—they sell for upwards of $100,000.
Although some press reports claim DOE suspended the loan guarantee, according to Fisker, the delay in DOE funding was initiated by the company, itself. A company spokesperson says, “In May 2011, Fisker Automotive opted to stop taking reimbursements from the DOE while the company entered negotiations to implement more realistic and achievable milestones.”
Last week Fisker laid off 25 workers in its Delaware plant. The company says the 25 had been refurbishing the plant in preparation for Project Nina. The Karma is assembled in Finland and Fisker says the layoff is not directly related to its production or the company’s need for batteries.
Nevertheless, O’Neill suspects that the interruption of DOE funding is likely to result in reduced Karma production. In his research note, quoted in the Forbes article, he says lower Karma production “throws 2013 estimates [for A123] into disarray because Fisker has started laying off employees at its plant in Delaware and this would have been a much larger opportunity for A123 Systems.” O’Neill estimated that Fisker has about 2,000 battery packs in its inventory and implied that might be enough, “We can’t be sure when it [Fisker] will need more or if it will have the money to pay for it. In either case, we have to lower our revenue forecast [for A123].”
This is the third straight month of unfortunate developments for Fisker: In December 2011, they recalled 239 vehicles because of a possible defect in the batteries, and in January sales reportedly were stopped for four days to fix a software glitch.
Fisker was reported to be A123’s largest customer, and the battery pack is the most expensive component in the car. Forbes reported that O’Neill had downgraded his rating of A123 stock from Hold to Sell. In his research note explaining his analysis and recommendation, O’Neill said that the DOE loan guarantee has “become part of an intense political debate, [and] it may never be restored.” He sees this as part of the political fallout from the Solyndra hot potato, and that it sets up the possibility of “two Solyndras for the price of one.”
A Boston Globe article reports that about 60 percent of A123’s 2011 revenue came from the transportation industry. A123 seems to be working hard to make the best of a tough situation. The Globe says the company laid off about 20 percent of its Michigan workforce, affecting about 325 employees. However, since the problems arose with its Fisker business, it has raised $23.5 million from investors to fund its growth.
It’s a scary moment in A123’s history. Crain’s Detroit Business reported that the company’s stock fell almost 24 percent on Thursday following Fisker’s announcement that it was delaying the Nina project. That brings A123’s stock down by a sobering 80 percent in the last 12 months.
Jason Forcier, A123 vice president and general manager in Michigan prefers to see opportunity, saying in the Crain’s article, “This delay on the Nina project actually helps us by allowing us to pull our engineers to other programs.” A123 has recently reported several significant sales to power grid companies.
Forcier is not a lone optimist. The Globe reports that Deutsche Bank analyst, Dan Galves, sees the setback as significant, but temporary, saying, “We still see this company as having done very well in terms of carving out a position in the advanced lithium-ion battery market.”
Fisker, too, prefers to see the sunshine between the clouds. Founder Henrik Fisker is quoted in the Reuters story, “Our survival is not dependent on the DOE. We have already looked into alternative financing and we have really good possibilities.”
And, O’Neil may have it wrong with regard to Fisker’s future with the DOE. In the Globe article, a DOE spokeswoman says it “is working with Fisker to review a revised business plan and determine the best path forward so the company can meet its benchmarks, produce cars and employ workers here in America.”
If so, that would be encouraging karma for Fisker and A123.
[Editor's note: Since first publishing this story, we received a note via email from Fisker spokesman and director of corporate communications, Russell Datz, providing some company background for the information contained in the news reports we quoted and linked to in the original version. This story has been updated to include Fisker's point of view.]
Beautiful weather in Orlando, Fla. beckoned these attendees at the Electronic Materials and Applications meeting.
The 2012 Electronic Materials and Applications meeting opened yesterday in Orlando, Fla. This is the third consecutive year for the event organized by ACerS’ Electronics Division and Basic Science Division, and this year’s gathering attracted just under 200 participants.
The program focuses on electronic ceramics for energy generation, conversion and storage applications. There are eight symposia covering advanced dielectrics, piezoelectrics, materials for batteries, thermoelectrics, metamaterials and microwave materials, as well as a symposium dedicated to sustainability and green materials processing.
Yesterday’s plenary speaker was Tony Gozdz, principle scientist at A123 Systems, pinch-hitting for Bart Riley one of the cofounders of A123, who was unable to come at the last minute. Gozdz, a polymer chemist by training, really knows batteries and set the tone for the conference by outlining the materials science and engineering successes, ambitions and challenges that are yet to be overcome.
The talk, “Advances in Lithium-ion Technology for Automotive and Grid Application,” started with a brief history of battery technology and quickly focused in on the development of lithium-containing batteries beginning in the 1960s. Observing, “The chemistry of batteries is the chemistry of interfaces, basically,” Gozdz went on to describe how solutions to surface and interface problems drove the evolution of lithium batteries, and continues to do so. He outlined A123’s work developing nanophosphate cathode materials, and offered some thoughts on nascent energy storage ideas and on the energy paradigm shift underway in this country. I’ll have more on the three plenary talks in a later post.
Meanwhile, enjoy this photoblog from Orlando!


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MONTCLAIR, NJ — A new supermarket chain will be coming to Lackawanna Plaza, but not without controversy.
By a 5-2 vote, During Montclair's planning board meeting on Monday, officials approved the application to redevelop Lackawanna Plaza as a mixed-use project. It was also revealed that German supermarket chain, Lidl, will bring a new store to the location.
The two objecting Planning Board members, Martin Schwartz and Carmel Loughman, spoke out because the plan calls for demolition of a historic portion of the train station. The historic shed will be demolished to expand the parking lot.
During the presentation, the Lidl grocery store was proposed by the Hampshire and Pinnacle Companies as part of the larger development project. Pinnacle is no stranger to development in Montclair, as they are also responsible for other development projects including the Arts Center and the MC hotel.
The proposal included 111,726 square feet of retail and office space and154 units of residential housing. 31 of those units are to be set aside for affordable housing.
When the Pathmark supermarket chain closed its doors in 2015, many residents were concerned about the shortage of affordable food options for residents and seniors with limited transportation, living in or near the 4th ward.
Lidl sent a representative, who also spoke saying that the company chose to place a store in Montclair because of the proposed pedestrian-friendly layout.
Residents Sound-off on Lackawanna Redevelopment:
Montclair Residents Pack Council Chambers About Lackawanna Plaza:
Residents Tour Lackawanna Plaza:
Pathmark Employees Given Termination Letters:


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SEO is dead, or so say tech pundits frustrated with the increasing impact of social media and ever-changing Google algorithms. But a new study from research firm Conductor argues that search engine optimization isn’t underground just yet; their findings predict increased use through 2013.
A recent Business 2 Community blog post talks about the confusion that surrounds search optimization, confusion often increased by the sheer number of opinions on the subject, for example
As a result, business owners are often unsure about the role of search and keyword optimization for their company–should it be used, and if so, how?
Several of these opinions are easily debunked. For example, strategies that use keywords, title tags, and URLs to capture a search engine’s attention (white hat) are entirely above-board. Only processes that artificially inflate a websites’ ranking (black hat) are a problem. In addition, the role of social media and content marketing are best viewed as augments to optimization, not replacements; content marketing is actually just one factor in traditional SEO, while social media “likes” and “shares” function in much the same way as links, increasing a website’s perceived authority and relevance.
In turn, this leads to the conclusion that SEO is not, in fact, headed for an early grave, and a new study offers supporting data.
That’s what the new Conductor survey predicts for search engine optimization in 2013, with 78 percent of respondents confident that its role will continue to gain importance over the next year, 60 percent increasing the number of employees on dedicated search optimization teams, and 63 percent confident that the understanding of content strategies has increased among executives. The study cites SEO’s maturity as part of the reason for this growth, along with increased use by marketing departments hoping to meet new online business objectives. In other words, while typical optimization strategies aren’t quite so shiny as social referrals or mobile search evolution, they’re by no means obsolete.
The year 2013 should be a banner one for search engine optimization and despite lingering confusion about exactly what falls under its purview, reports of its demise are premature. Expect a fusion of traditional techniques with social site referrals and an increased focus on content (thank Google for that), and a resulting hybrid that adapts to business needs rather than forcing rigid paradigm alignment.


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- Mar 25, 2019
- Daily Independent
There was a time when Nigeria was the world leader in palm oil production. That was in the 1960s when Nigeria not only led world production of the commodity but accounted for 40 per cent of global supply. Those were the days when the likes of Calaro Oil Palm Estate in what is now Akamkpa Local Government Council of Cross River State with a palm plantation stretching for well over 20 square kilometres was producing at its peak.
Calaro Oil Palm Estate had the largest palm fruit processing mill in West Africa which processed the high yield fruits from the plantation into palm oil, palm kernel oil and pellets for local consumption and exports. Today the estate and its mill are shadows of their past glories because of low yield ageing palm trees emanating from decades of neglect and mismanagement as crude oil diverts attention from agriculture.
Nigeria has slipped from its leading position in palm oil production to a distant number-five in the world chart. Annually, Malaysia and Indonesia produce 25 and 40 million metric tons of palm oil respectively, while Nigeria manages to chip in a paltry 800, 000 tons in its position as distant number-five.
Ironically, it is on record that Malaysia obtained oil palm seedlings from Nigeria in 1965 and is now feeding Nigeria with the products of the seedlings it obtained some 54 years ago.
Statistics from the Central Bank of Nigeria (CBN) suggests that Nigeria’s annual palm oil imports have dropped to 350, 000 metric tons from a peak of 500, 000 metric tons, but stakeholders in the industry contend that Nigeria imports a minimum of 1.5 million metric tons of palm oil annually.
The yawning gap between government and industry figures emanates from the fact that the CBN has added palm oil to Nigeria’s growing list of items that could not be imported with forex from official sources. It therefore implies that well over one million tons of palm oil is smuggled into the country annually just as rice and automobiles.
Nigeria is in a very precarious situation as it spends billions of dollars annually on the importation of items it is naturally endowed to produce.
Last week Godwin Emefiele, CBN governor said that Nigeria spends $500 million annually on palm oil imports. Statistics from the industry suggests that the CBN figure is a tiny fraction of what Nigeria spends on palm oil importation as smugglers ferry in three times what the CBN records as annual imports of palm oil.
Nigeria can return to the days when it led the world in palm oil production. Emefiele in a speech during a stakeholders meeting in Abuja last week reeled out measures the apex bank intends to implement to conjure a surge in palm oil production in the country.
“As part of our Anchor Borrowers Programme (ABP) and Commercial Agriculture Credit Scheme (CACS) the CBN will work with large corporate stakeholders and small holder farmers to ensure availability of quality seeds for this year’s planting season.
“We will also ensure availability of agro-chemicals in order to enable improved cultivation of oil palm…Loans will be granted through our ABP and CACS programmes at no more than 9 per cent per annum to identified core borrowers”, said the CBN governor.
Emefiele was speaking to a stakeholders’ audience on the palm oil value chain which included the governors of Edo, Akwa Ibom and Abia states which have the highest potential for palm plantation development. The managers of Dangote Farms, Flour Mills, United Food Industries and Dufil Prima Foods Plc., key users of palm oil as raw materials were also present at the meeting with the CBN.
We believe that the federal government can revive the oil palm industry and return Nigeria to its leading position in palm oil production if the policies outlined by the CBN are implemented to the letters.
Government has to collaborate with governors of the states where oil palm cultivation is viable to ease the cumbersome process of land acquisition for the establishment of large scale oil palm plantations. The Land Use Act has for decades inhibited the acquisition of land for massive investment in agricultural schemes. That obstacle must be removed to empower big corporate organisations to embark on oil palm plantation development that would create millions of jobs and reduce Nigeria’s shameful dependence on crude oil exports for foreign exchange earnings.
Besides, the Nigerian Institute for Oil Palm Research (NIFOR) in Benin City, Edo State must be resuscitated and adequately funded to improve the research and production of quality oil palm seedlings which farmers would rely upon for high yield.
NIFOR, which metamorphosed from the West African Institute for Oil Palm Research (WAIFOR) in the 1960s, has been dormant for decades due to dearth of funds and pro-active management. The institute which used to feed the large scale oil palm plantations of the 1960s with high yield seedlings has lost its relevance to the industry. It has to be reactivated if the CBN plan for self-reliance in palm realised.


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Reliance Industries Limited share rate surged almost 5% to touch day’s excessive of Rs 2,092 apiece on BSE, taking the market capitalisation of the firm to almost Rs 13.23 lakh crores. Mukesh Ambani-led oil to telecom conglomerate reported a 31% on-year jump in consolidated net profit at Rs 13,233 crores in the April-June quarter (Q1). The organization also posted a one-time achieve of Rs 4,966 crores on investment through British oil main BP in its fuel marketing business. At least 2 foreign brokerages Goldman Sachs and CLSA are bullish on this index heavyweight inventory with a potential upside of up to 16%. We believe Reliance Industries existing dominance in telecom and offline retail, combined with the online traffic dominance of their partner Facebook, can create the fastest-growing internet platform in India, Goldman Sachs stated in a report.
The foreign brokerage firm has maintained a ‘buy’ ranking to the stock. It will take Reliance Industries shares to jump 15.78% from yesterday’s close to touch the rate goal of Rs 2,325 apiece pegged by using the brokerage firm. It similarly added that despite weak global oil demand in the first quarter (Q1), RIL’s oil to chemical division ran at a 90% utilisation price versus peers at 60% to 70% on the back of excessive complexity of its operations; lower price structure; and operational flexibility pushed through feed, product range and excessive refining integration. Within e-commerce, we forecast RIL’s online gross merchandise cost (GMV) will attain US$35 bn in FY25E with a 31% market share, it added.
Reliance Industries shares have rallied 142% from March lows of Rs 868 apiece. Last week, the inventory quoted a 52-week excessive of Rs 2,198.70 apiece. The inventory has been on a gaining spree due to back to back investments from global technology investors in its digital arm Jio Platforms, Rs 53,124 crores mega rights issue and stake sale to British energy giant British Petroleum (BP) in the Petro-retail joint venture. With over Rs 13 lakh crores market capitalisation, Reliance Industries is amongst the top 50 most valued organizations globally. It took simply 8 trading sessions for the business enterprise to climb to Rs 13 lakh crores m-cap from Rs 12 lakh crores. The organisation has become a net debt-free association 9 months ahead of its deadline of March 2021. So far, RIL has raised Rs 1.52 lakh crores in exchange for a whole of 32.8% equity stake sale in Jio Platforms.
Foreign brokerage company CLSA raised its goal charge for RIL to Rs 2,250, an upside of 12%. The brokerage association stated that after a 400% rally over the past 7 years and over 150% gain in 4 months, the inventory may also take a pause. It’s promising long-term story and underweight positioning in institutional portfolios should provide support, it stated in a report. CLSA also stated that based on Financial Year 20 pure retail revenues of US$12.2bn, Reliance Retail is the clear market chief in the grocery and customer electronics segments.
RIL shares were trading at 4.57% higher at Rs 2,100 apiece as compared to a 1.62% rise in S&P BSE Sensex in the noon deals. Research and brokerage association Edelweiss reiterated its ‘hold’ ranking to the stock. “We trust Reliance Industries FAANG-like valuation (particularly Jio’s) is misplaced as O2C and telecom make up 70% of the value,” it said.


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6sense Expands Bombora Partnership To Boost Intent Data Capabilities
The collaboration brings 6sense users intent data capabilities sourced from thousands of B2B websites and databases.
6sense customers will be gaining some powerful new intent capabilities this month. The industry-leading AI account engagement platform has announced it will be expanding its collaboration with Bombora’s B2B intent data platform.
6sense customers will have access to Bombora’s intent data metrics, which are sourced from over 4,000 B2B websites, to help them create audience segments that help boost account-based strategies.
“6sense is delivering on its promise to bring the RevTech Revolution to its customers by synthesizing multiple enhanced data sources and turning them into clear and actionable recommendations that drive better account-based sales and marketing results,” commented Viral Bajaria, CTO and Co-founder of 6sense. “Together, 6sense and Bombora deliver the most complete view of B2B buyer behavior in the market, and our patented AI-based models can leverage both data sources to predict which accounts sales and marketing should prioritize.”
The partnership of 6sense and Bombora is designed to create a full-funnel predictive analytics platform that is driven by B2B metrics and insights. With the addition of Bombora Company Surge, 6sense customers will have increased capabilities within the 6sense Sales Intelligence module to target accounts, and turn them into loyal customers.
Related: Palo Alto Networks Upgrades Cloud Security With Bridgecrew Addition
“6sense is a leader in orchestration and data for account-based sales and marketing teams” said Erik Matlick, Founder and CEO at Bombora. “Now, 6sense is our exclusive partner for activating an embedded offering of Bombora Company Surge® data into a predictive model. The combined solution gives customers accurate predictive account intelligence and actionable recommendations, so they can better focus on and engage their top accounts with messages that are relevant to buyer interests and their predicted journey stages.”
Companies like Kazoo have already been using the integration to boost their buyer intent data strategies. According to CMO Casey Carey, the partnership helped increase in-market account identification by 15 percent, new pipeline opportunities by 20 percent, and lead-to-win rate by 14 percent.


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Elon Musk unveiled Tesla’s all-new monster electric truck today as the billionaire entrepreneur looks to make a dent in the transportation industry. Apple’s iPhone X is back in stock on Airtel’s online store, meanwhile Lenovo, Vivo, and Honor teased their new and upcoming products today. As the day and the week draws to a close, here’s a look at the news stories which made top headlines.
Vivo V7 launched
As promised, the Vivo V7 smartphone launched in Indonesia today. It is priced at IDR 3,799,000 which translates to approximately Rs 18,300. It wil be made available in India starting November 20.
Highlights of the smartphone include edge-to-edge display design and its selfie camera. It is equipped with a 5.7-inch HD+ IPS FullView display with an aspect ratio of 18:9. Under the hood runs Qualcomm’s Snapdragon 450 octa-core SoC clocked at 1.8GHz, paired with 4GB of RAM and 32GB of internal storage which is further expandable up to 256GB via microSD card. As for the USP, there’s a 24-megapixel front camera of f/2.0 aperture accompanied by soft ‘Moonlight Glow’.
- Vivo V7 with 18:9 FullView display, 24-megapixel front camera launched: Price, specifications and features
Tesla Semi truck
After teasing it for months, Tesla CEO Elon Musk finally took the wraps off what is called as ‘Semi by Tesla’. The monster truck is an electric vehicle that aims to take on the freight industry with its sci-fi inspired design and functionality. It has a gigantic windshield and two screens on either side. There’s a center-mounted seat. Musk claimed that the truck has a 400 mile range in 30 minutes and has semi-autonomous capabilities. On the sidelines of the Semi launch, Tesla also unveiled the new Roadster which now adorns a red color. Musk says that the Tesla Roadster will be the fastest car ever with its speed capabilities of reaching 0 to 60 Miles Per Hour (mph) in 1.9 seconds, and 0 to 100 mph in just 4.2 seconds.
- Elon Musk shows off Tesla’s new electric Semi truck
- Tesla Roadster ‘quickest car in the world’ launched
Apple iPhone X back in stock
Airtel announced the availability of fresh stocks of Apple’s tenth-anniversary edition iPhone, which will be available on the operator’s online store starting 8:00PMtonight. The first batch of the iPhone X went up for sale on November 3, and soon after, the stocks were sold out owing to heavy demand. The iPhone X comes in two models with the 64GB model priced at Rs 89,000, and the 256GB model priced at Rs 102,000.
Lenovo Tab 7, Tab 7 Essential launch
Lenovo launched two new entry-level tablets today. Called Lenovo Tab 7 and Tab 7 Essential, the tablets feature a 7-inch display. The Lenovo Tab 7 is priced at $80 (Rs 5,200 approximately), whereas the Tab 7 Essential is priced at $100 (Rs 6,500 approximately). Both tablets are available on Lenovo’s official website in black and white color variants. It is unclear as to when these tablets will launch in India.
Honor V10 launch date
Honor is also set to join the bezel-less smartphone bandwagon with its V10. The smartphone is set to launch on November 28 in China. The Honor V10 is said to be a toned down version of the already launched Mate 10. It is expected to be priced at 3,000 RMB (Rs 29,300 approximately). In terms of specifications, the smartphone is expected to come with a 5.99-inch display with 18:9 aspect ratio. The smartphone might be powered by a Kirin 970 chipset. It is also likely to sport a dual-camera setup at the back with a combination of a 16-megapixel and 20-megapixel camera.


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Starting January 1, 2013, the town of Concord in Middlesex County, Massachusetts no longer allows supermarkets and several other stores to sell single-serving plastic water bottles.
Thus, this town can be argued to have made bottled water illegal. For the time being, the ban only takes into consideration PET bottles whose capacity is of 1 liter (roughly 34 ounces) or less, but there is no telling what the future will bring.
“It shall be unlawful to sell non-sparkling, unflavored drinking water in single-serving polyethylene terephthalate (PET) bottles of 1 liter (34 ounces) or less in the Town of Concord on or after January 1, 2013,” reads the official press release on this matter.
Interestingly enough, Concord's decision to outlaw the sale of bottled water is first and foremost based on environmental considerations.
More precisely, this town's residents hope that their new legislation concerning PET bottles will help cut down on the amounts of waste this town produces on a regular basis.
Furthermore, they believe that significant progress will be made in terms of reducing fossil fuels consumption, seeing how the process of manufacturing said plastic bottles has a significant ecological footprint.
This plastic bottle ban comes as a result of a three-year campaign (i.e. Ban the Bottle) organized and carried out by greenheads living in this part of the United States, Huffington Post reports.
As the people who put together this campaign argue, “It takes 17 million barrels of oil per year to make all the plastic water bottles used in the U.S. alone. That's enough oil to fuel 1.3 million cars for a year.”
Furthermore, “In 2007, Americans consumed over 50 billion single serve bottles of water. With a recycling rate of only 23%, over 38 billion bottles end up in landfills.”
Whoever chooses to disregard this ban faces a warning for their first offense, a $25 (about €18.88) fine for their second and a $50 (roughly €37.77) for their third.


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Strong sales of the Galaxy S7 and S7 edge have led to Samsung posting an operating profit of $7.22 billion (8.14 trillion won) in Q2 2016, up 18% from the same period a year ago. Overall revenue was $45.1 billion (50.94 trillion won), a 5% increase from Q2 2015.
The handset business accounted for half of Samsung's bottom line, with the division netting $3.83 billion (4.32 trillion won) in profit on a revenue of $23.5 billion (26.56 trillion won). Samsung noted that the larger and more expensive S7 edge model made up over half of the sales of its flagship series, with the Galaxy A series and J series also seeing an uptick in sales in the mid-range and low-end segments.
Looking ahead to the third quarter, Samsung says that the launch of a new large-screen flagship phone (the Galaxy Note 7, if you're wondering) "will help to maintain solid sales of high-end smartphones led by the Galaxy S7 and S7 edge:"
Samsung will focus on increasing smartphone sales under strong seasonality with the launch of a new model, while expecting marketing expenses to increase QOQ due to seasonality.
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Select is editorially independent. Our editors selected these deals and items because we think you will enjoy them at these prices. If you purchase something through our links, we may earn a commission. Pricing and availability are accurate as of publish time.
In November, people usually fall into two groups: those who are excited for Thanksgiving and those who are excited for the winter holidays. Some people might be inclined to hold out until Black Friday and Cyber Monday to look for deals, but you should get started as early as you can given the global supply chain issues and ongoing staffing issues, according to Kristin McGrath, a senior editor and retail expert at online shopping resource RetailMeNot. The later you wait, the more likely something will be out of stock or not arrive on time. These supply chain issues may also impact the number of sales and deals shoppers come across, especially with tech, thanks to a rampant chip shortage affecting everything from computers to cars.
According to a September survey of 1,082 people by RetailMeNot, 22 percent of respondents planned to start their holiday shopping last month, and 24 percent of respondents planned to start their holiday shopping in November ahead of Black Friday and Cyber Monday. Those looking to get started early on their holiday shopping don't have to wait for Black Friday and Cyber Monday to get the same quality deals — retailers like Best Buy, Target, Amazon, and Lowe’s have already started their early holiday sales.
To get an idea of the best sales and deals worth considering right now, we consulted retail experts and our recent coverage. We also asked the pros what you can wait to buy.
November 2021 sales
We picked the sales below based on Select reader interests and our previous coverage. The sales include multiple deals, and not every product in a sale is going to be the best deal around.
- Allform: Up to 20 percent off sitewide during the Black Friday Sale with code BFSALE20
- Amazon: Amazon’s Early Black Friday Deals has several ongoing sales to offer, as well as unique daily deals on watches, Fitbit products and more
- Bed Bath & Beyond: Up to 50 percent off select kitchen deals, 35 percent off select health and beauty deals and more in early Black Friday sales through Nov. 21
- B&H Photo: B&H’s Holiday Head Start sale has unique daily deals on cameras, external hard drives and more.
- BJ’s: Black Friday Savings are live through Nov. 29 while supplies last. Deals include up to 40 percent off select TVs, up to $1,100 off reclining seats, and more.
- Casper: Up to 20 percent off bundles, 15 percent off mattresses and 10 percent off sheets, pillows and more
- The Company Store: 20 percent off sitewide with code FRIYAY21
- Dell: Up to 30 percent off select laptops, gaming accessories and more during the Black Friday Sneak Peek Sales
- Foodsaver: Up to 40 percent off select vacuum sealers
- Home Depot: Up to 40 percent off select tools, furniture and bedding, as well as deals on outdoor power equipment and more during its Black Friday Sales
- Keurig: Up to 20 percent off sitewide with code HOLIDAYJOY21 through Nov. 21
- Kohl’s: Up to 15 percent off purchases in person or online with code SHOP15 through Nov. 20
- Lovesac: 20 percent off everything during the Black Friday Sales event through Nov. 28
- Nixplay: Up to 25 percent off products sitewide through Nov. 19 during the Early Black Friday Deals event
- Our Place: Up to $125 off sitewide
- Overstock: Up to 70 percent off select items during the Black Friday Sales event
- Society6: Up to 35 percent off select products during the Gifting sale
- Sur La Table: Up to 55 percent off select products during the Early Black Friday Sale
- Walmart: Throughout November, the retailer is hosting its Black Friday Deals for Days event online and in person
What to buy in November
McGrath said that shoppers should expect to find an average discount of 25 percent off makeup and skin care products, 23 percent off clothing, 22 percent off toys, 20 percent off computers and electronics and 19 percent off travel-related items across retailers.
Despite global supply chain issues possibly interfering with the restocking of clothes and toys, McGrath said November will be the time to buy these items due to the number of sales that will be available across retailers.
Vipin Porwal, the founder of online coupon tracker Smarty, said that department stores with a larger brick-and-mortar presence like Kohl’s, Macy’s and JCPenney will have to bring out their best deals to compete with primarily online retailers during holiday sales, so shoppers should keep an eye out for their in-store sales this month.
In terms of the expected average sales on electronics, McGrath said the best deals will be on smart home assistants, video doorbells and photography equipment. While there will be sales in spite of inventory issues, some sales will also occur because there is too much inventory.
“This will be a very good year to shop Black Friday sales for health and wellness products, as well as work/study from home items, as current inventories are saturated from the pandemic, so prices on these items can fall up to 50 percent,” Porwal said.
What to skip in November
As always, some deals this month will seem “too good to be true,” McGrath said: Some doorbuster TVs, for example, may be “cheapened for mass consumption” or equip “lower-quality components, fewer HDMI ports and other problems.”
“The Super Bowl usually falls right after the annual Consumer Electronics Show, so retailers often offer deep discounts on older models [then] to make way for the newer TVs released during the show,” McGrath said about another time of year to consider buying a TV at a discount, adding we should expect fewer sales on laptops and other computer equipment, too, due to the chip shortage.
McGrath also said that shoppers should think twice before buying holiday merchandise, large appliances and mattresses right now. Holiday merchandise will be available at larger discounts after the holidays, and retailers usually offer better discounts on large appliances and mattresses during other holiday weekends, like Independence Day, Labor Day and Memorial Day, McGrath said.


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Whatever ground banks lost to FinTechs in the past, they can gain it back in 2018—and then some—through promising new partnerships.
'Omnichannel banking' may have become a cliché, but it also provides an approach to getting the most out of banking that takes place in multiple channels.
Rather than offering mobile alerts as an add-on product, banks should deploy them within an enterprise-wide strategy to spur customer engagement.
Developing and executing a multichannel strategy requires foundational data to ensure that the strategy aligns with channel capabilities, customer preferences and the bank’s overall strategy and brand promise.
Will NFC or Cloud-based apps prevail? As debate centers on that question, alternatives lurk behind the scenes.
Retail banks, in the coming year, will focus on improving omni-channel operations; sharpening the definition of branch technology goals; and driving more revenue outside of the branch.
To attract more small business customers, banks need to elevate the customer experience of mobile banking to that of online banking.
Bankers know that customers are increasingly switching to remote delivery channels, but many lack a scorecard for measuring the impact of these changes.


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Melrose Publix will open on Jan. 27; no opening date set for East Nashville location
Publix is opening its long-awaited Melrose Park grocery store on Wednesday, January 27. The 8th Avenue South store will be the Florida-based chain's eighth location within Nashville city limits and will serve neighborhoods just south of the city center like 12South, West End and Wedgewood.
The 39,000-square-foot building is located at 2223 8th Ave. South across the street from the Melrose Hattie B's Hot Chicken location. It will house a pharmacy alongside extensive grocery options and two floors of store parking.
The store broke ground in 2018 following a call from residents in Nashville's city center for more grocery options. Publix initially targeted a summer 2019 opening date, but issues at the construction site pushed back the opening date at least a year.
RELATED:Nashville's grocery wars intensify with new stores on the way. Here's where they're going.
Another Publix location is planned for the upcoming Hill Center Greenwood shopping center at 1111 Gallatin Ave. in East Nashville. Chase Bank and Starbucks will also rent space at the 5.3-acre shopping center. The development broke ground in late 2019, and Publix signage has been up for several months, but there is no firm date from the grocery chain on when it will open. The company's website lists the Hill Center Greenwood store as "Coming Soon," and a spokesperson from Publix could not be reached for comment.
Cole Villena covers business at The Tennessean, part of the USA Today Network — Tennessee. Reach Cole at firstname.lastname@example.org or 615-925-0493. Follow Cole on Twitter at @ColeVillena.


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Shock as Dunnes Stores in Gorey announces 'immediate closure' putting 100 jobs at risk
More than 100 jobs are at risk in Gorey after management at Dunnes Stores announced the 'immediate closure' of its Gorey branch.
Mandate Trade Union said the 100 strong staff weren't given any explanation for the closure or the effect it would have on their jobs..
Workers in the store were called to a meeting just after 6pm on Thursday night and told of the closure, but no details were forthcoming from management.
Mandate Trade Union has condemned management's actions saying it is a shocking way to treat their workers. The Union has called on the company to immediately engage and end the confusion and uncertainty for their staff.
John Douglas, Mandate General Secretary, said: 'There are 100 workers in Wexford tonight who have no idea whether they have a job or not tomorrow. They have no idea how they're going to pay their bills and feed their families. For Dunnes Stores managers to make this announcement in this way is insensitive and a disgraceful way to treat their staff.
'At this moment in time the workers have not been told whether their jobs are at risk. We simply don't know whether the store will open again in the future or whether there may be store transfers available. Many of the workers don't even know whether they have to turn up to work tomorrow. This is completely unacceptable,' he said.
'We're once again calling on the company to do the right thing by their workers. Agree to a meeting with the workers' representatives and ensure that jobs are protected in the best interests of the business and the workers concerned,' concluded Mr Douglas.
At 6,000sq metres Dunnes Stores was the anchor tenant of Gorey Shopping Centre. The centre itself is already for sale as part of a portfolio of six shopping centres around the country with an asking price of €115million.


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The livelihoods of many Australian beekeepers have been threatened and even wiped out entirely in recent times, first by drought, and more recently, by the terrible bushfires.
Funds are being raised to help them through the industry backed Hive Aid, as well as through a number of private online initiatives.
Information and links to some of them are detailed here.
The price rises are almost certain because the combined impact of drought, bushfires and climate change is threatening a big drop in this years honey harvest.
A number of beekeepers across two of Australia’s largest states - Queensland and New South Wales, have reported likely poor honey harvests this summer.
And Capilano, Australia’s dominant honey packer, with more than 70% of the market, has said price rises are imminent.
A new study by a group of UK bio-medical scientists shows that manuka honey will be likely to do a better job than antibiotics in treating the resistant bacterial strains that afflict sufferers of cystic fibrosis.
According to results from the study published at Frontiers of Microbiology earlier this year, manuka honey was effective in killing some 39% of the anti-biotic resistant bacteria.
A government backed review of tests to prove honey purity says that they sometimes don’t work with Australian honeys.
Just like Australian trees and plants, some Australian honeys have different chemical characteristics compared to those found in other parts of the world, and particularly in Europe.