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It wasn’t long ago that the biggest trucker haul was the loads of complaints about dire driver shortages.
But after a few recent bankruptcies put thousands of trucking company employees out of a job — including at Elizabeth-based New England Motor Freight, which reportedly employed nearly 1,500 truckers — the brakes have been put on any concerns about that.
Yet, there remain some labor woes in the broad area of logistics. It’s just that, now, it’s the distribution companies that fill truck trailers bemoaning a labor market that they see as difficult.
As the demand for e-commerce products and services continues to swell, third-party logistics providers are struggling to keep up with the quickly intensifying need for qualified workers, especially as competitors such as Amazon hire potential workers by the thousands and the country’s unemployment rate remains low.
A third-party logistics provider such as Edison-based Dotcom Distribution fulfills up to 5 million orders annually these days, mostly moving products in the fashion and cosmetics space.
“So, obviously, labor is always top of mind for us,” said Rob Coon, Dotcom’s vice president of sales and marketing. “We manage several hundred folks here every day. It takes a lot of people to do this work.”
Given that third-party logistics providers have to be ready at any time to expand operations to adapt to their clients’ needs, retention of the workers a company already has is crucial. That’s why Coon is proud to say his company’s average tenure is at least six years.
“Amazon facilities have come into our space and tried to attract workers with higher-than-minimum-wage jobs,” he said, “but we already offer our folks here not just full-time work, but good benefits and the chance for promotions.”
Coon believes it’s the company’s flexibility and willingness to help train and develop workers that gives them an advantage over their corporate competition.
“You might have someone come here in the role of a picker,” he explained. “But, as we track performance, we might give that person a chance instead in the packing area. Some of our standout associates have gone through that process. They came in to do one job and became a superstar in another area.”
Packaging Distribution Resources, an Edison-based warehouse and distribution company that also primarily serves the cosmetics industry, is similarly fixated on retention, because Jack Sandbach, the company’s founder, said it’s not easy to go out looking for new workers.
“We have a ton of our own people, but, when we need more, we have to lean on these agencies that are out there pulling people in all the time,” he said. He added, “Over the past year, we developed a night shift. And filling those later shifts isn’t the easiest thing.”
Sandbach said most of the competition for labor comes from already-established logistics companies. It’s not easy for new entrants to get into the space, especially as the vacancy rate for facilities for warehousing and distribution is as low as 3% in some areas, he said.
Clark Machemer of Crow Holdings, a developer of commercial space in New Jersey, said real estate goes hand-in-hand with labor.
“The way we’re living our lives and how we get goods as consumers has dramatically affected the world of logistics,” he said. “Logistics companies now require a lot more employees. And the right facility can certainly help logistics companies attract and retain employees.”
From the outside, the unadorned, gray walls of logistics companies might look the same. Inside, these buildings are taking on a new life.
Logistics companies are starting to ask about amenities for the first time, because any aspect of a building that’s good for employees, such as a space for food trucks to set up, is seen as a worthwhile investment in a tight labor market.
“If it’s enough to retain a couple percent of your workforce, that’s significant,” Machemer said.
Where warehouse and distribution spaces are located is also becoming more central in decision-making.
Historically, logistics facilities could be anywhere that’s convenient for shipping purposes. Now, these companies want to know where the closest commuter train line is, Machemer said.
“You can’t spend millions on a facility without knowing the labor will be there to fill jobs at the end of the day,” he said. “Everyone wants a work-life balance, so location has become a key factor for these companies.”
With business booming as it is in the e-commerce space, logistics company leaders aren’t registering too many complaints about having to reorient their priorities.
“This is a great business to be in right now, even if you’re constrained by the fact that you need the people to get it all done,” Sandbach said.


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HP (NYSE:HPQ) layoffs will have the company reducing its headcount by as much as 9,000 employees.
These HP layoffs are the plan of incoming President and CEO Enrique Lores. They are part of the company’s restructuring plan that looks to save it $1 billion a year by the end of fiscal 2022.
According to the HP layoffs news release, the company will be going forward with this plan over the next few years. It is planning for these layoffs to take place over this period of time. HP is expecting the layoffs to be a mix of forced exits and voluntary early retirement.
The HP layoffs and restructuring plans will end up costing the company $1 billion. This won’t hit it all at once though. Instead, the company will suffer a $100 million charge in the fourth quarter of 2019. Another $500 will charges will take place in fiscal 2020. The remaining will occur during the couple of years after this.
“”We are taking bold and decisive actions as we embark on our next chapter,” Lores said in a statement. “We see significant opportunities to create shareholder value and we will accomplish this by advancing our leadership, disrupting industries and aggressively transforming the way we work. ”
The HP layoffs news comes alongside an update to the company’s fiscal 2020 outlook. This has it expecting non-GAAP earnings per share between $2.22 and $2.32 for the year. Wall Street is looking for HPQ to report earnings per share of $2.24 for fiscal 2020.
HPQ stock was down 10% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.

domain: news


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If you live in London, you’ve probably heard of Uber. It’s an app that lets city dwellers hail a private car with the tap of a smartphone – a car that Uber describes as faster, cheaper and just all-round better than a taxi. The iOS and Android app allows you to track the car in real time and even pay the fare - another example of mobile technology and app development transforming our everyday lives.
The man behind the company is CEO and co-founder Travis Kalanick, the American entrepreneur who created Uber in 2009. The app was officially launched in San Francisco – from there the company grew from city to city and now operates in 38 countries. Financial support from Google has made Uber one of the fastest growing companies in the world, but not everyone is happy to see its rise in popularity.
Uber is potentially cheaper than a taxi because it relies on “surge pricing” (when demand is high, prices go up and vice versa). However, by doing this they are undercutting taxis. Earlier this month, London black cab drivers took to the streets to protest against Uber, bringing central London to a standstill. The basis of their argument is that the app acts like an unlicensed taximeter, which is against Transport for London rules.
On the day of the strike Uber saw its largest day of downloads since it started in London two years ago, increasing by 850%. The app has a social feature giving every user a code to sign up new customers, which also rewards both users with £10 free credit. The company relies almost exclusively on word of mouth, and according to Kalanick the company has spent virtually nothing on marketing. He has said that for every seven Uber rides, word of mouth generates one new user. This viral marketing model has helped Kalanick get where he is today.
Although black cabs have been an iconic symbol for London for many decades, this strike proves that they cannot stand in the way of innovation. As digital technology presents new opportunities, old markets will be disrupted. Uber is an example of the positive disruption that new technology can bring, in this case offering customers new choices on how to travel.
Companies that embrace these advances in technology will be creating new jobs, advancing their industries, making companies run efficiently - and most importantly, making our day-to-day lives easier.


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Microsoft Says Noisy Xbox One Consoles Are Safe And Functional, Offers To Replace Anyway
When it comes to new technology there is always going to be issues with hardware and software that need to be worked out. It is one of the risks one takes as an early adopter of new tech. However, a number of consumers have noticed that their Xbox One consoles are being rather loud and Microsoft is offering to replace the units.
The issue seems to have become more widespread with one user describing the noise like “an old printer and lots of static” on the Xbox support forums. Complaints appear to have increased over the last few days, which coincides with the console’s recent release in new territories, though Microsoft has said that it is replacing the units for the “small number of customers” who have been affected by the noise issue.
In response to inquiries, Microsoft released a statement that reads, “We have heard that a small number of Xbox One owners in some situations may hear a noise from the console that is too loud. While this does not affect the safety or functionality of the system, we're asking customers who believe they are experiencing this issue to contact Xbox Support: http://support.xbox.com. At the request of our customers, we are exchanging those consoles for new systems.”
While it is still early in the console’s lifecycle, it is hard to forget the Red Ring of Death issue that plagued the Xbox 360. The last-gen console had been reported to have a failure rate of around 23 percent which was, and still is, the highest percentage ever for a console.
Since the Xbox One’s launch, Microsoft has released multiple updates and patches, backtracking on the company’s original vision of the device as being an online-only piece of hardware. In addition, Microsoft has also done away with the Kinect requirement and unlocked additional processing power so that game developers have access to more resources. In other words, the console has been through quite a few changes.
But until Microsoft comes out and reveals the exact cause and affects for this issue, we can only speculate.
Has your Xbox One been abnormally loud? Let us know!


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What impact will Trump Administration have on retail automotive?
Today’s story involves a theft from a Porsche dealership that involved windows being smashed, multiple vehicles getting stolen and the theft occurred just minutes after the dealership closed.
We currently have 980 vendors with more than 29,000 ratings. And they are all verified. That means rated by dealers like you, no spam, no fluff.
Today’s story is that of used vehicle dealership employees who were arrested for issuing temporary license plates.
DSU brings real results to real dealers. Find out how you can achieve these results, and more, at your store.
Today’s story involves the tragic situation that occurred in Colorado, as a car salesman from a Maserati store was found dead following a car accident.
Senior German officials reacted with surprise and defiance to comments made by President-elect Donald Trump, who stated in an interview that NATO was “obsolete,” in addition to threatening German automakers with massive import taxes.
U.S. Environmental Protection Agency (EPA) chief Gina McCarthy has finalized a determination that the fuel efficiency rules instituted by President Barack Obama should be locked in through 2025.


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It was an accident.
"So you haven't called me?" "No, someone called me."
"My assistant packed some Cheerios and Froot Loops in my backpack. I discover this with a mixture of awe and deep gratitude."
Who needs class-action lawsuits when toppings are free?
A growing coalition of restaurant workers renew a call for increased wages.
Fast-food workers are back at work, but the struggle is not over.
Workers are demanding, on average, a $7 increase in hourly pay, from $8 to $15.
When you see soldiers running through your yard, they may be delivering juicy burgers! Go get the door!
The 'Top Chef' contestant pushes pies for the chain.
"When I'm in stressful situations, I go back to the same foods, so that's what's happening with the tuna sandwich, and also that turns into Kit Kat Bits"
Get a pizza with up to ten toppings for eight bucks.
Plus: Walgreens wants to sell you sushi, Sri Lanka's flooding likely to affect food prices, and more, in our morning news roundup.
There's no way this is true, right? RIGHT?!
Plus: home bars a big thing, Domino's Pizza on track to expand, and more, in our morning news roundup.
Plus: Domino's Pizza gets generous, and Starbucks defeats a lawsuit accusing them of faulty double-cupping, all in our weekly roundup of weird restaurant news.
A former delivery guy set fire to pizza boxes at two Domino's in the Bronx.
Plus: Gary Vaynerchuk's wine list, and Bobby Flay's Georgetown dreams, all in our morning news roundup.
Plus: U.S. wants Japan to eat its meat, and Domino's ads go micro, all in our morning news roundup.


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Journal-ConstitutionMcClatchy-Tribune Business News
Aug. 25, 2006 - Young developer Beau King is adding another entry in Midtown's race for signature residential development.
In his first venture without mentor Bob Voyles, King has teamed up with Kimpton Hotels for a 230-room luxury Palomar Hotel and 38 condominium units starting at $1 million. This would mark the local debut of a widely respected boutique-hotel chain.
Generally smaller than chain brands, boutique hotels attract upscale guests looking for trendy surroundings.
Bigger properties can't match that fashion appeal, industry experts say, because they have to aim for broader appeal.
King assumed the helm of the development firm headed by his late father, Kim King, last year.
For his first project, he teamed with Voyles for an office expansion at Technology Square, which his father pioneered.
But for this project, he has partnered with Gulch Ventures' Butch Ross and Chip Patterson.
Gulch, an experienced hotel developer, helped structure the $100 million deal.
"We realize we need someone who's kind of been there, done that," King said, "because you can really get burned on these hotel deals."
Georgia State University economist Rajeev Dhawan recently warned that the proliferation of new condo projects in Atlanta could produce a glut of residential property in the slowing home-sales market.
But Dhawan said projects such as the Palomar, which pairs a luxury hotel with a smaller number of equally posh condos, is more marketable.
The million-plus price tag means economic fluctuations have less effect on its target condo buyer.
"At the luxury level, I like the idea, because it is more tailored to the demographic," Dhawan said. "If you want to build something, something like this, in my view, will have more of an appeal."
King said he is mindful of 2006's steady decline in home sales.
But he points out that sales in Atlanta have not been as heavily affected as other cities'.
As for the hard-hit condo market, the disappearing speculators who drove crashing markets like Las Vegas and Miami have not been as active in Atlanta, King said.
Further, the Palomar prices probably will attract residents rather than speculators, he said. "I just don't think 38 units is too much."
The project will rise on an acre lot at 866 W. Peachtree St., now occupied by the low-rise office building that once housed Haverty's headquarters.
Designed by the architecture firm of Smallwood, Reynolds, Stewart, Stewart & Associates, the Palomar will house 38 condos -- four per floor -- beginning on the 17th floor. In addition to "sweeping views" and "a lot of glass," Palomar condos will have 10-foot ceilings, two-piece crown molding, top-of-the-line appliances and hardwood floors.
Atlantan Stanley Ellis created the condos' interior design and options for buyers' custom finishes.
King said he has already sold five of the condo units, which will range in size from 2,000 square feet to 4,000 square feet.
His mother bought one of them, he said.
Boutique hotels popular
Boutique hotels have become popular in Atlanta during the past few years as both independent and chain hoteliers sought unique identities in an increasingly crowded market, industry experts said.
Kimpton, based in San Francisco, usually specializes in converting old properties -- like a post office or office building -- into a guest destinations.
It has hotels in 10 states, Washington, D.C., and British Columbia.
"They are not well known among Atlantans who don't travel, but for those who do, Kimpton is known as a great brand," said Ken Bernhardt, a marketing professor at Georgia State University.
At completion in 2009, the 26-story tower will rival its Midtown neighbor, the Four Seasons Hotel on 14th Street, for contemporary luxury, King said.
A signature restaurant, yet to be defined, will be included in the development.
"The Kimpton brand, when it comes to Atlanta, it's going to blow people away," King said.
Timing may be right Boutiques currently account for less than 5 percent of Atlanta's hotel stock, said Scott Smith, a vice president at PKF Consulting Inc., an Atlanta firm that tracks the health of the hotel industry.
With the city's occupancy rates growing, the timing is right for Kimpton here.
"There is great opportunity in the Midtown area right now, branded or unbranded," Smith said. "If anybody has defined the boutique category, it's Kimpton."
Tim Mescon, dean of the Coles College of Business at Kennesaw State University, said the boutique market overall is having a transforming effect on Atlanta hoteliers.
"I like it because it keeps the legacy properties on their toes," he said.
By Julie B. Hairston and Leon Stafford
To see more of The Atlanta Journal-Constitution, or to subscribe to the newspaper, go to http://www.ajc.com.
Copyright (c) 2006, The Atlanta Journal-Constitution
Distributed by McClatchy-Tribune Business News. For reprints, email firstname.lastname@example.org, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.


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Most parents of teenagers who go online say they set time limits on the kids' Internet activity, according to a US study released on Thursday. They also try to monitor it, in part by placing computers in common areas.
Parents also do not shun technical tools.
Slightly more than half of parents with teens who use the internet - 54 percent - have filtering software installed on home computers, up from 41 percent in 2000, the Pew Internet and American Life Project study found.
Another of the survey's findings: 13 percent of American teenagers do not use the internet.
Parents who are themselves online are more likely to set rules about when or for how long their kids can log on at home. Overall, nearly two-thirds of parents with teenagers who go online say they have such rules.
Nearly three-fifths keep the computer in an open area, like the living room.
"You set rules about television watching, cleaning up after yourselves, doing the dishes," said Amanda Lenhart, a Pew research specialist and author of the study. "Doing it for online safety is an easy next step for parents to take."
Lenhart cautioned, however, that time limits could result from family members competing to use a single computer rather than an effort to restrict children's usage.
She added that children who had such rules at home were also more likely to access the internet at school, possibly negating the impact of any rules.
Mothers are more likely than fathers to install filters. And younger parents and those who go online at least once a day are also more likely to use employ filters to try to prevent their children from viewing pornography and other material they deem objectionable.
In addition, 62 percent of the parents in the survey said they checked the sites their children visited, though only a third of the teenagers who use the internet at home believed their parents did so. And any reasonably tech-savvy teen knows how to erase their online footsteps.
The perception gap is significant, said Parry Aftab, an internet safety professional who runs workshops for parents and children.
Aftab questions how strictly parents are really controlling their children's time online. Few, she said, use software to enforce those limits.
And while the Pew finding on open access is comparable with those from other surveys and anecdotal evidence, Aftab noted that many children were now getting online through mobile phones, video game consoles and other gadgets that may not be centrally located.
Lenhart agreed that time limits and computer location could not replace the need to educate kids about internet use and safety.
One parent not connected to the study, William Draves of River Falls, Wisconsin, was sceptical about whether time limits or similar restrictions did much. He said they may even be counter-productive, so he sets no limits and uses no filtering software for his 18-year-old son, even letting him connect wirelessly from the roof when he wants.
"The internet is going to be their life," he said. "This is how they are going to earn their living. This is how we communicate. This is the central feature of a middle-class lifestyle."
The Pew study is based on random telephone calls with 1100 children 12 to 17 years old and their parents. They were conducted from October 26 to November 28 last year. The main findings have a margin of sampling error of plus or minus 3 percentage points.
The survey also finds that of the 13 percent of American teenagers who do not use the internet, about half were once online but dropped out. They were most likely to blame lack of interest or access, followed by concern about safety. A small percentage said their parents no longer let them use the internet.
Those who never had access mostly cited lack of interest or being busy, with lack of access ranking third.
Separately, Pew reported on Thursday that the percentage of older Americans online continued to grow. A January 13 to February 9 telephone survey of 2201 adults found 26 percent of those aged 65 and above had internet access, an increase from 22 percent last March.
Older Americans were found to embrace email and research on the web but shunned "high trust" activities such as e-commerce, banking and online auctions. Pew said it expected the pattern to shift with the aging of baby boomers who are already familiar with those activities.


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CONCORD — Five Pakistani businessmen have been charged with running front companies that illegally obtained products for their country’s nuclear and missile programs from U.S. manufacturers, including three New Hampshire companies, federal prosecutors announced Wednesday.
None of the five men, who live in Pakistan, Canada and England, is currently in custody, but arrest warrants are pending. If feasible, they will be extradited if caught, according to the office of Scott Murray, U.S. Attorney for New Hampshire.
The men are charged with conspiracy to violate the International Emergency Economic Powers Act and the Export Control Reform Act of 2018, as well as conspiracy to smuggle goods out of the United States.
A federal grand jury indicted the five in October. The men range in age from 41 to 82 and include a father and two sons, according to the 22-page indictment unsealed late Tuesday.
All five defendants are associated with the front company Business World, which is ostensibly located in Rawalpindi, Pakistan, prosecutors say.
The indictment lists a slew of other front companies used to funnel American technology to Pakistan’s Advanced Engineering Research Organization, which works on missiles and unmanned aerial vehicles, and the Pakistan Atomic Energy Commission, which oversees nuclear reactors, uranium enrichment and heavy water production.
Those front companies range from offices in a Hong Kong high-rise industrial building to a family residence in Mississauga, Ontario, to a pizza shop in Beckley, W. Va.
The conspiracy used the fronts to procure the U.S. products while concealing their ultimate destination, according to the indictments, which also list three unindicted co-conspirators.
Murray’s office said none of the 29 American companies knew about or were charged with criminal activity.
Those businesses are listed in the indictment anonymously, with only a number, the business location, the product sold and the price. The New Hampshire companies are described as:
U.S. Company 17, Brentwood, exported $1,367 worth of cartridge heaters on Nov. 10, 2016. It was paid by Buziness (sic) World Canada. The Nov. 10 shipment to Industria HK in Hong Kong was upended when UPS reported that the recipient refused delivery. One of the defendants then contacted the company and had the heaters sent to a different Hong Kong address. Last April, one of the defendants contacted the company to ask about shipping 200 of the same heaters to a Hong Kong address, the indictment said. It does not say whether that took place.
U.S. Company 20, Contoocook, exported $6,516 worth of digital/analog converters on Dec. 18, 2016. It was paid by Buziness World Canada and the product went to Industria HK. The defendants wired money from a Canadian bank to the company’s Bank of America account for high-density cables and analog output boards. They were sent to an organization named Product Engineering in Rawalpindi, Pakistan.
U.S. Company 25, Manchester, exported $13,549 worth of industrial safety equipment on July 7, 2018. It was paid for by Industria HK and the product went to Business World Pakistan. The Manchester company made the unlicensed export via a Pakistani freight forwarder. A month later, the Chashma Nuclear Power Plant, an asset of the PAEC, complained that there had been a problem with the shipment.
Both the Advanced Engineering Research Organization and the Pakistan Atomic Energy Commission are on the U.S. Commerce Department’s Entity List, which imposes license requirements on organizations whose activities are deemed contrary to U.S. national security or foreign policy interests.
The indictments allege 38 separate exports over a five-year time frame.
The five under indictment are: Muhammad Kamran Wali, 41, Pakistan; Muhammad Ahsan Wali, 48, and Haji Wali Muhammad Sheikh, 82, both of Mississauga, Ontario, Canada; Ashraf Khan Muhammadof, Hong Kong; and Ahmed Waheed, 52, of Ilford, Essex, United Kingdom.
Sheikh is the father of Ahsan Wali and Kamran Wali, according to court documents. Waheed is the uncle of the unindicted co-conspirator affiliated with the West Virginia pizza parlor.
Some of the defendants are listed as top officials in the various front companies.
Conspiracy to violate the International Emergency Economic Powers Act carries a penalty of up to 20 years in prison. Violation of the Export Control Reform Act is punishable by up to five years.


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The company reported a pre-tax loss of £61m for the 24 weeks to October 18, compared with a profit of £51.4m last year. It has also suspended this year's dividend payments to preserve cash as it prepares for a "recessionary environment".
DSG warned that the trading environment remains "tough and volatile" and the outlook for the peak Christmas period and 2009 is "uncertain". Revenue over the first-half was up 3pc to £3.4bn, but like-for-like sales were down 7pc as fewer shoppers visited its stores.
DSG chief executive John Browett, said: "We are focused first on trading through the current tough economic environment in which we are prioritising cash generation as well as tightly managing stock, money margins and costs. Second, we are making rapid progress on our renewal and transformation plans and although early days the performance of the new format stores and improved service model gives us confidence for the future."
The UK's largest electrical goods retailer said it will take "further action as necessary" to stay afloat as the economy nose-dives towards recession. The news comes as Woolworths and MFI enter administration.
DSG paid an interim dividend of 2.02p last year.


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Mishawaka's Zing Japanese Fusion postpones second 50 percent off week after overwhelming response
In the restaurant world, there might be such a thing as too much success.
In a show of customer appreciation, Zing Japanese Fusion, 206 N. Main St., Mishawaka, recently offered 50 percent off all food and drink in celebration of its third year of operation.
According to a statement from the restaurant, the promotion nearly tripled business before wrapping Saturday, June 20 — a week earlier than the planned Sunday, June 28 end date.
In the same statement, president Jeremy Young said the restaurant needs time to order and prepare food materials while the staff recover from the hectic week.
- RELATED: How the Japanese beverage sake became an Osceola man’s obsession, Feb. 9
The promotion, which can also be applied to takeout orders, is expected to continue for another week sometime in the near future, although a date has yet to be determined.
Reservations for this week, placed last week beginning June 15, will still be honored.
The recent success of the Asian fusion restaurant follows last year’s mention as one of Midwest Living’s top 10 dining destinations from around the region.


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McDonald’s to remove ‘chemicals forever’ from food packaging
PFAS – per- and polyfluoroalkylated substances – are a family of man-made chemicals with known links to a myriad of health impacts, including cancer, hormonal disruption, and reproductive and developmental disorders, and they are present in our food. The compounds do not break down in the environment and can build up in our bodies as we are gradually exposed, earning them the nickname “forever chemicals. “Chemicals in this class are used in a variety of consumer goods, from weather-resistant clothing to furniture and rugs and even dental floss, making exposure inevitable. PFAS are ubiquitous, with biomonitoring showing that they are present in almost all Americans tested.
Given the harmful nature of these chemicals and the growing negative attention to PFASs by consumers, academics and the media, companies should begin to assess the need for their use. Recently, consumer health advocates have pushed food companies to eliminate PFAS from food packaging, where their use is particularly alarming. In 2020, the Mind the Store campaign published a report noting that several of the country’s largest fast food chains, including Mcdonalds, Burger King, and Wendy’s, all had packaging with high levels of fluoride, suggesting PFAS treatment. Following the report, McDonald’s received a flood of consumer petitions urging the company to stop using food packaging treated with PFAS.
Shareholders, building on a successful track record in removing BPA, PFOA, phthalates and other harmful chemicals from food packaging, are now highlighting the risks of PFAS to consumers and business. As you sow and First Affirmative have co-filed a shareholders’ resolution request McDonald’s to report on the public health risks associated with chemicals used in food packaging, expressing specific concerns regarding PFAS.
In January, McDonald’s has shown leadership in announcing phase out PFAS from its packaging globally by 2025. Investors now want the company to investigate its chemical risks more broadly and establish a plan to reduce its total chemical footprint, a strategy designed to end the wacky approach to chemical toxicity – and proactively plan for risk management. At the same time, investors want Burger King and Wendy’s to follow suit and commit to phasing out chemically treated food packaging. Rather than wait for regulations to catch up with science, companies need to proactively investigate, manage and report chemical risks in their business.


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- Jürgen Schiffer has been announced as the new CFO of Meyer Burger from October 1, 2020
- He will be responsible for transforming the existing structures and aligning reporting with the company’s new business model as a technologically leading manufacturer of solar cells and modules
- Schiffer will be replacing Manfred Häner who is due to reach retirement age
Solar PV equipment manufacturer turning into a solar cell and module maker Meyer Burger Technology Ltd has announced Jürgen Schiffer to be the company’s new chief financial officer (CFO). He will be replacing current CFO Manfred Häner who will soon reach retirement age. Häner worked in his current position for 2 years (see Meyer Burger Gets New CFO).
In his new role at Meyer Burger which Schiffer will assume from October 1, 2020, he will be responsible for transforming the existing structures and aligning reporting with the company’s new business model as a technologically leading manufacturer of solar cells and modules, the management explained (see Meyer Burger Selects German Locations For PV Production).
Schiffer previously worked with German renewable energy company Conergy AG and South Korean solar cell manufacturer Q-Cells AG. About this experienced financial expert, Meyer Burger says he has held senior finance and CFO positions at European companies in recent years, on mandate basis.
“In addition to his core competencies in Finance & Controlling, Jürgen Schiffer has gained significant experience as a management consultant and interim manager in dealing with complex turnaround situations,” stated Meyer Burger about Schiffer. “He is familiar with company analyses, the design of quality assurance processes and the development of reporting structures.”
Previously in April 2019, in line with its transformation program, Meyer Burger let go of its COO Daniel Lippuner and CCO Michael Escher (see Meyer Burger CCO & COO To Leave Company). In March 2020, former CTO Gunter Erfurt took over the helm of the company (see Meyer Burger CEO To Retire As CTO Assumes Charge)


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Fewer than a quarter of the National Retail Federation’s list of the top 100 US retailers are now accepting Apple Pay, with nearly two-thirds saying they will not be accepting it this year and only four saying they have plans to add support in the next 12 months, research conducted by Reuters has found. “Some merchants said they were holding out because they plan to participate in a new mobile payment system to be launched by a coalition of retailers later this year,” reports the news agency.
- EU agency calls for action on IoT security
- Google and Stripe eye a slice of UPI pie in India
- Guide explores key benefits of Samsung Pay
- Bank of America enhances customer choice: Provides secure and reliable access to data
- Phillips 66 unveils new mobile platform at Momentum Conference


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Popular Hollywood couple fondly known as KIMYE recently debuted their first ever children clothing line called Kids Supply.
Most of everything that came with this new idea was inspired by Kim Kardashian West’s home town in Calabasas, according to Vogue.
Price for this line ranges from $22 to $240 and it is available exclusively online.
Photo Credit: Vogue
- My two singles are doper than MC Galaxy’s two albums – Cynthia Morgan - July 10, 2017
- Cobhams Asuquo covers ThisDay Style Magazine’s latest issue - July 10, 2017
- Wizkid & Davido thrill Fans at Sold Out Concerts in Brussels - July 10, 2017


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Fleets are “firming up” their disposal strategies in anticipation of a fall in values later this year, reports Epyx.
The company says that while current used car values are running high, increasing numbers of vehicles will reach the market towards the end of 2015, providing strong downward pressure.
David Goodyear, head of business development, said: “The feedback we are seeing from fleets is that they don’t expect anything like a slump in values but that values will certainly fall.
“The current buoyancy in used car values is very much driven by a shortage in stock and, as supply improves, there will undoubtedly be a measured but irresistible slowdown.”
Goodyear said that fleets were already preparing for this scenario by looking at their overall disposal strategies.
He explained: “We are seeing this from conversations with our users about the way in which they are planning to use our 1link Disposal Network e-commerce platform in more sophisticated ways.
“They are not planning complete revisions of strategies but more of a firming up process design to offset the reductions in values that are widely expected.
“This is very much about using the data that the platform produces – for example, in terms of identifying best routes for different kinds of vehicles - to maximise the chances of producing the best disposal result in terms of values and speed of turnaround.”
He added that epyx expected this kind of activity to continue into 2016.
“Supply is likely to continue to increase as more lease cars return to the market. One of the good things about e-commerce is that users learn more about how to get results over the platform over time, and we expect to see more of those lessons put into practice.”


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The big news of the day, at least for old-school RPG junkies such as myself, is that Divinity: Original Sin 2 will soon be coming to Kickstarter. But why, you may wonder, does it need a Kickstarter at all? The original Original Sin more than doubled its goal of $400,000, was a critical hit, and for a PC-exclusive RPG it sold like gangbusters too. So why does Larian need the money up front?
Part of the reason, studio founder Swen Vincke explained in a blog post, is creative rather than financial. "Divinity: Original Sin wouldn’t be the game it was without the input from our Kickstarter backers & Steam Early Access players. There were a lot of them and they pushed us forwards in directions we hadn’t anticipated when we started development," he wrote. "To this day, our entire team is incredibly grateful for this. Our community was a critical factor for the success of the game."
Of course, money is a consideration as well. Vincke said the studio's investment in Divinity: Original Sin Enhanced Edition "is beyond what most would consider reasonable," but that it's done so not just so it could "perfect" the game, but because it's laying the groundwork for Original Sin 2.
"We have the budget to do cool stuff already, but what we’ll be doing is something we can really take very far. How far will depend on how our Kickstarter campaign fares," he continued. "Perhaps we’ll even be able to do very cool stuff—all the money we’ll hopefully raise with Kickstarter will be put on top of what we’re investing already to make the game better. The same scenario essentially as with the original D:OS."
The Divinity: Original Sin 2 Kickstarter will kick off on August 26. In the meantime, you may make suggestions for backer rewards, and vote for suggestions already made, at Larian's Uservoice page.


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July #PSPlusPlays shows off their dunking skills in NBA 2K20
July’s #PSPlusPlays is heating up with PlayStation Australia announcing its latest monthly challenge. Players will once again have the chance to win an exclusive prize pack by showing off their dunking skills NBA 2K20.
Your best MyPLAYER dunk is what is being put to the test this time in July’s #PSPlusPlays challenge for NBA 2K20, with the best entry winning a physical NBA All-Star 2020 Prize Pack & Anthony Davis LA Lakers Jersey, plus 450,000 Virtual Currency.
The awesome prize can be won by any baller game enough to load up NBA 2K20 on their PS4 and share their attempt to Twitter with the hashtag #PSPlusPlays.
For all our previous coverage on #PSPlusPlays you can find that here.


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February 2, 2020 - Start at Shea, the student executive team of the Edmund H. Shea Jr. Center for Entrepreneurship at Boston College, is excited to announce that Cybba will be attending the Startup and Entrepreneurship fair on Thursday, February 20!
Cybba is a performance-driven technology company that helps online businesses exponentially increase revenue and lower cost of acquisition by optimizing every stage of the customer journey. Cybba solutions in programmatic display, paid social and search advertising, onsite engagement, and email remarketing enable advertisers to attract and convert online buyers efficiently and effectively. Headquartered in Boston, MA, Cybba has international offices in Phoenix, Toronto, Hong Kong and Sao Paulo.
Industry: Advertising, Analytics, Digital Marketing
Job Opportunities: https://cybba.com/careers/
Company Website: https://cybba.com


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It wasn't Apple or Google, or even Mastercard to take the first real shot in this war. But two national retailers trying to ensure their own efforts will take off. But the inconsistencies in their move show their turn agenda and it isn't with consumers in mind. Read More »
A watch that does more than tell time. That has been the dream of many geeks for decades. Google is ...
After a not-so-fun wait I finally have had the Moto 360 on my wrist. Motorola spent months teasing u...
This is a change of pace for the site. For the last few years phones have been my focus. But ...
In typical fashion — for Samsung and most phone makers — in order to get the best experience out of ...
When it comes to the fight or the space in your pocket it tends to normally boil down to two ...
A watch that does more than tell time. That has been the dream of many geeks for decades. Google is looking to makes Android Wear the answer. And the Moto 360 looks to be the most compelling offering for it so far. But is it really the one to make the smart watch and Android Wear more than another cool geekccessory? Read More »
Now you get to choose between a longer wait or paying more money for the privilege to upgrade! Read More »
With Android 5.0 Lollipop and new Nexus devices Google looks to bring something sweet to more than just your pocket. Read More »
By now you have all probably heard about Bendgate. No, this is not the latest political scandal. It’s the latest tech one! After Apple releases there is normally some issue that is somehow made into a catastrophe. When in all reality it is only a catastrophe to the iPhone owners affected. Bendgate is the clever name given to the issue ... Read More »
With the iPhone 6 and 6 Plus already out on the major four carriers many may have wondered when the other players in the game would be releasing them. Today we have news from an unexpected carrier –Consumer Cellular. The only carrier backed by AARP has officially announced they will be carrying both of Apple’s new phones starting September 26. ... Read More »
So another Apple iPhone launch has come and gone. Some camped out for days in front of a glass cube. While other camped out in front of their door checking every passing truck hoping for the one with their new phone. Me? I spent the day in Boston checking for the pandemonium and getting some hands-on time with the ... Read More »
If you were looking to get Samsung’s latest phablet then this news is for you. Today two of the big four have opened up pre-orders for the Galaxy Note 4. If you were eyeing the Note Edge you will probably have to wait a bit longer as no carrier has announced when that one will be available. But here is ... Read More »
After a not-so-fun wait I finally have had the Moto 360 on my wrist. Motorola spent months teasing us about it and then very quickly launched it on September 5th. And just as quickly the watch sold out. The interest in the first round Android Wear watch was very high. I said at the end of last year that wearable tech ... Read More »
After iFixit did their teardown of the Moto 360 and noted the listed battery capacity was not the capacity written on the battery the tech geeks of the internet(like myself) were none too pleased. There has been a lot of people saying that Motorola was less than honest about the size of its battery(I’m sure there is a dirty joke ... Read More »
So after months of waiting for Motorola to finally officially announce it and then a week of waiting for my local Best Buy to have one I finally have it. The Moto 360 is on its cool little charging dock while I type. I am pretty excited to test this one — even with some of the odd decisions ... Read More »
After more leaks that a plumbing system made with Swiss cheese pipes Apple finally made their latest iPhone official today. And surprise –there’s two of then. So let’s talk a little about the iPhone 6 and iPhone 6 Plus. Let’s start with what makes these devices different. The iPhone 6 has a 4.7 inch screen at a 750 x ... Read More »


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Celebrating 12 Years of Innovation & Convenience
Hafele Sri Lanka 12th Anniversary Event
Hafele celebrated its 12th anniversary and the many milestones through its journey in Sri Lanka on 25th March 2022 at Taj Samudra Hotel, Colombo. The event was attended by a host of distinguished guests including Hafele Project Partners, Trade associates, OEM customers, Architects, Designers and Media Personnel who have over the years supported Hafele in different capacities. Through this event, Hafele celebrated its journey in Sri Lanka from humble beginnings in 2010 to its transformation as the leading interior solutions brand that it is today.
Häfele is a German brand that provides home interior solutions that retain the essence of furniture designs and yet provide true functionality to optimize spaces. The brand offers a plethora of solutions ranging from door hardware to furniture and kitchen fittings and has, related product categories such as home appliances, furniture lighting, sanitary fittings and interior surfaces. This, together with a strong solution-based approach as well as a clear focus on service, has strengthened Häfele’s position as a preferred interiors specialist brand that provides its customers with a convenient and peace-of-mind journey through their entire purchase cycle.
Mr. Jurgen Wolf (Managing Director, Häfele South Asia), whose vision paved the way for Sri Lanka operations, says “When Hafele started operations in Sri Lanka in 2010, we knew that we had entered a market with huge potential and enormous growth opportunities. It is therefore no surprise that what started as a small home-office set-up with 2 employees back then has today grown into full-fledged regional operations with over 50 employees, a head-office, design showrooms, training and logistic facilities and a growing clientele of loyal and appreciative customers. We remain committed to our customers through continuous growth and expansion in this region and strive to remain the preferred choice for all our partners as the only brand that not only has superior solutions but also superior services.”
The Chief Delegate of AHK Sri Lanka Ms. Alexandra Voss stated, “On behalf of the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka), I want to extend our sincerest congratulations on the 12th year anniversary of Häfele in Sri Lanka. During the past 12 years, Häfele has outlasted the competition and contributed a great deal to the furniture fittings and architectural hardware sector of Sri Lanka. As a reputed German brand and longstanding premier platinum partner of AHK Sri Lanka, Häfele will be continually supported by AHK Sri Lanka to increase its’ market reach and uphold trade relations between Germany and Sri Lanka. We wish you all the best for your continued success.”
The chief guest of the evening was Eng. Maj. Ranjith Gunatilleke - B.Sc.Eng., CEng., MICE(Lond), MIE(SL), MSSE. (SL) - Managing Director of Sanken Construction (Pvt) Ltd who spoke highly of Häfele’s contribution to the construction industry and the country as a whole.
Hafele’s 12th anniversary event was not just a celebration of the many milestones it has achieved through this journey but also a strong testament of its on-going commitment and focus towards this market. The company is gearing for expansion through a new Design Showroom in Kandy as well as more trade footprint across the country


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Latest Autos News
- Chrysler Recalls 651,000 SUVs For Mirror Lights The automaker says it knows of three injuries related to this problem...
- Ford Sees Strong Gains In Europe Ford of Europe President says sales are up 6.6 percent in the first half, company on track to make a profit in Europe next year.
- Tips For Preventing Child Deaths In Hot Cars Heatstroke can happen when the temperature is as low as 57 degrees, so here are some tips from safety advocates on avoiding accidental deaths in hot cars.
- Ford Thinks Big With New Cargo Van Company shows off the Transit van, which replaces its long time Ford E-Series.
- GM Worker Warned Company Of Switch Problem In 2005 The 2005 email, unearthed in April during a company wide review of ignition-switch problems, is more evidence that GM knew about safety problems for years but failed to recall troubled cars until recently.
- CBS 2 Exclusive: NJ TRANSIT Bus Operator Caught Reading While Driving A bus driver was allegedly caught reading Tuesday morning, while driving more than 40 passengers on his NJ TRANSIT bus.
- Uber Technologies App To Make Car Service Prices Cheaper Than Cabs The car service app Uber Technologies announced pans Tuedsay Tuesday to cut its prices temporarily in New York City, so as to make its service cheaper than a yellow cab.
- Summer Car Care Tips For Your Next Road Trip Be prepared for any emergencies that may come up. Prep your ride with a few simple steps to ensure a safe road trip this summer.
- Driver Charged Following Crash That Left Pedestrian Dead In Jackson Heights At 4:30 a.m. police responded to 92nd Street and Roosevelt Avenue, and discovered that a male pedestrian had been struck by a vehicle.
- Manhattan Judge Sues Over Traffic Camera Ticket A driver who just so happens to be a judge has filed a lawsuit against the City of New York for a traffic camera ticket he claimed was unjust.


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Tesla has opened an official company shop on Taobao.com, an online mall owned by Chinese e-commerce company Alibaba.
Taobao operates almost identically to Amazon.com. Products are available through a variety of vendors who fulfill orders. However, some companies choose to sell their products on the site to consumers directly, and Tesla has taken the route to fulfill requests to Chinese customers that wish to purchase accessories for their vehicles.
The products available on Tesla China’s online site, appear to be the same items available on Tesla’s official online shop in the US. Among the available items are phone chargers, key fobs, floor mats, cleaning accessories, and apparel.
While the official Tesla shop offers plenty of accessories and collectibles for Tesla fans, items cannot be shipped outside the United States or Canada. The limited shipping range spelled trouble for international shoppers who may be interested in sporting a Tesla T-shirt directly from Silicon Valley or a new set of floor mats for their Model 3.
Fortunately, Tesla appears to have recognized this issue and decided to open a new store for its Chinese customers. The site went online on Thursday, April 16, and currently offers accessories for the Model 3, Model S, and Model X. Interestingly, customers can also schedule test drives of any presently available Tesla vehicle through the online shop.
Tesla has become a formidable presence in China over the past year. After the company broke ground on its first vehicle production plant in Shanghai in January 2019, Tesla began producing its first Chinese built Model 3s in October of the same year. In December, the first Made in China Model 3s were delivered to employees, with public deliveries starting in January 2020.
Since then, the plant has produced and fulfilled thousands of orders as the Model 3 made its way to becoming the most popular electric vehicle in the Chinese market. In March, Model 3 registrations topped 12,000, exhibiting a 450% increase compared to February’s numbers, which barely peaked over 2,500. February’s figures were due to the company’s shutdown of the Giga Shanghai facility amidst the COVID-19 pandemic.
As Tesla’s brand became more well-known, the demand for apparel and accessories among the company’s Chinese owners and enthusiasts has become undeniable. As demand and popularity for the company’s electric vehicles grows, it was only a matter of time before the electric car maker needed to expand its online presence in China.


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BRUSSELS (Kyodo) The European Commission, the executive body of the European Union, said Tuesday it will approve a joint venture between Fujitsu Limited Ltd. and Sumitomo Electric Industries, Ltd.
It has granted clearance for the joint venture, Fujitsu Quantum Devices Ltd., under the Merger Regulation. The operation was notified Feb. 26 under a simplified merger review procedure.
A commission official said Fujitsu and SEI notified the EU of the joint venture because the two Japanese companies have been very active in the European market.
Fujitsu and SEI will transfer their respective electronic devices businesses and their entire compound semiconductor businesses to the joint venture, which will be active in the development, production, marketing and sales of compound semiconductor devices.


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"Our payments system should be the strongest and most secure in the world,but we won't get there unless we change the way we set security standards."NRF SVP and General Counsel Stephanie Martz
WASHINGTON – A new study conducted for the Secure Payments Partnership coalition shows that the U.S. credit card industry has failed to establish adequate security standards and that a neutral third party should be put in charge, the National Retail Federation said today.
“Millions of Americans have experienced credit card fraud and that’s unacceptable,” NRF Senior Vice President and General Counsel Stephanie Martz said. “Our payments system should be the strongest and most secure in the world, but we won’t get there unless we change the way we set security standards. This study shows that the card industry has repeatedly ignored innovations that could have given us a more secure system, and that cannot be allowed to continue. NRF remains committed to continuing our work with the card companies to find lasting solutions that will protect businesses and consumers alike.”
SPP today released “Payment Insecurity: How Visa and Mastercard Use Standard-Setting to Restrict Competition and Thwart Payment Innovation,” an in-depth study of EMVCo, an organization owned by the world’s six largest payment card companies that sets technical specifications for credit, debit and other payment cards. Conducted by the Retail Payments Global Consulting Group industry research firm, the report highlights a systemic pattern of decision-making by EMVCo that has put in place standards with diminished security that have led to increased fraud risk. Doing so has helped those card companies dominate the payments market, according to the report.
The 55-page paper concludes that the leadership of EMVCo has prioritized card companies’ market share over security, driven up costs for businesses and consumers and left the United States with a fraud-prone payment system that lags behind security standards in international markets. EMVCo claims to produce only technical “specifications” needed to ensure interoperability, but those specifications become de facto standards with implications far beyond technical compatibility. Because EMVCo is run by the major card companies, it is not an appropriate organization to develop standards with such widespread impact on the U.S. payments system, the paper says.
The report recommended that standards-setting be shifted from EMVco to a neutral national or international standard-setting body. The report shows:
- Visa and MasterCard dominate EMVCo and ensure that it sets standards they can use to beat competitors.
- EMVCo bolstered Visa’s 20-year-plus battle against allowing retailers to process transactions through competitors’ debit networks, resulting in the implementation of less-secure chip-and-signature EMV cards in the United States rather than the chip-and-PIN cards used in most of the rest of the world.
- EMVCo adopted expensive, complex and difficult-to-implement technology such as near-field communication because it prevents competitors from entering the mobile payments market.
- EMVCo adopted an anticompetitive tokenization standard that discriminates against debit networks and non-card forms of payment.
- EMVCo ignored the work of other organizations such as the Fast Identity Online Alliance and World Wide Web Consortium in developing open standards for authentication that would have allowed competitors into the system.
- EMVCo has introduced the Secure Remote Commerce standard, which purports to become a new integrated checkout platform for online payments but could make it difficult to route transactions through competitors’ debit networks, create higher dependence on the card companies and increase merchants’ payment processing costs.
EMVCo and the card companies have routinely dismissed innovations and new standards to maintain their dominance, according to the study. The paper highlights how EMVCo says its specifications promote “compatibility,” “interoperability” and “secure transactions” but contradicts these concepts with its own practices.
SPP was formed last year by NRF, other retail trade associations and card processing networks to push for stronger credit card security and focus on consumer expectations for security, convenience and flexibility in payment options.
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $2.6 trillion to annual GDP and supporting one in four U.S. jobs — 42 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.


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As reported by foreign sources, AMD and its partners began final preparations for the emergence of GPU Radeon new generation. One of the leading suppliers of Radeon, the company XFX, already included Radeon R9 370 on the chip Trinidad Pro to catalog its products. Known resource VideoCardz published an interesting excerpt from the list of new products XFX, and according to it, the company is working on two models Radeon R9 370. One of them will be equipped with two gigabytes of graphics memory GDDR5, the other will receive a full-fledged four gigabytes.
It is expected that the new card should be available in early April, which contradicts information from AMD, according to which the entire line of Radeon R9 300 should be announced simultaneously. Both new XFX are on board chip Trinidad Pro, which has a 256-bit memory bus. They use a short and relatively simple six-layer printed circuit board (the length of the order of 167 mm) with a six-pole power connector, which implies that the Radeon R9 370 is quite economical. Apparently, the cost Radeon R9 370 will be significantly less than two hundred dollars. It is expected that Trinidad will be based on the architecture GCN 1.2 or 1.3, but, unfortunately, on this our knowledge about this chip and end.
Probably full version called Trinidad XT get 24 or 26 computing clusters GCN, which means 1536 or 1664 stream processors. What will be the configuration of Trinidad Pro — unknown. If the information on the timing of the announcement Radeon R9 370 true and AMD plans to release this decision in early April, then, apparently, the company has made significant changes in their plans. Previously, it happened that AMD announced massive graphics processing separately from high-powered models, but the meaning of such behavior a bit. Chips in this class rarely attract much attention, no matter how technologically advanced they are not.
Find and buy a case, headphones or other accessories for this device here.


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Nearly half (46 percent) of all card skimming reported by the FICO Card Alert Services occurred at bank-owned ATMs in 2012 – a vast jump over 2011, when 79 percent of skimming occurred at point-of-sale terminals.
Twenty states saw increases in credit card fraud last year, including seven on the East Coast: Main, Massachusetts, New York, North Carolina, Pennsylvania, Vermont and Virginia. South Dakota showed the greatest increase in credit card fraud – the local rate jumped nearly 26 percent.
Mark Solomon, CT Chapter President of the International Association of Financial Crimes Investigators (IAFCI) and a 19-year veteran of law enforcement in Connecticut, is assigned to a task force that investigates ATM skimming incidents. James “Gator” Hudson, Det. Sgt., Ret., and VP of CrimeDex Services joined Solomon to discuss why this crime trend is on the rise and what security executives should do about it in this Online Exclusive with Security magazine Editor Diane Ritchey.
Ritchey: Why has there been this sudden increase in skimming?
|Photo courtesy of Mark Solomon
Solomon: The sudden increase in ATM skimming in the U.S. is directly attributed to the global shift towards Chip and PIN technology. Criminal organizations involved in this activity have been running out of places to skim due to the fact that EMV technology is being implemented around the world. Since the United States has been slow to adopt Chip and PIN technology, the criminals are taking advantage of this delay and are focusing their attention on the United States.
Hudson: Mark is right about Chip and PIN in the rest of the world. Another reason is the “dumbing down” of what used to be a high-tech crime to a level where many criminals can do it. It reminds me of the counterfeit check explosion of the 1990s. If you remember the movie “Catch Me If You Can” about Frank Abagnale, in the 1960s check counterfeiting was an art and a science. Frank even traveled to France to use special printing presses. Then in the early 1990s it became possible to print counterfeit cashiers and payroll checks from a laptop PC, cheap software and check paper available at the office supply store using a portable ink jet printer. Every 19-year-old methamphetamine addict high school dropout could do it, and did!
Today the equipment and knowledge to perform ATM skimming is widely available on the Internet. Almost anyone can do it. From a Tom Clancy novel when terrorists are discussing making a nuclear weapon, “What is the work of genius the first time is the work of a tinsmith soon thereafter”.
Ritchey: Why should security executives be concerned about this issue?
Solomon: ATM skimming should be on the forefront of security executives, because these attacks are increasing exponentially. Here in the U.S., groups tend to target the weakest link in the chain and will target those institutions that are not prepared or do not have a plan in place to combat ATM skimming. Using the latest anti-skimming technology, coupled with the education of your frontline employees as well as having an anti-skimming plan is critical to all financial institutions where these attacks can occur.
|Photo courtesy of James “Gator” Hudson
Hudson: Any industry that involves payments needs to be concerned. For example, ATM skimming obviously impacts the financial services industry directly at banks and credit unions. But the same technology is finding its way into the credit card processing equipment that retailers use to accept payments, and when a breach occurs it’s the retailer who has to make good on the losses, not the financial institutions. Any industry that relies on electronic payments has to be concerned that they will be the next target, such as hospitality and health care.
Ritchey: Beyond technology, what else do you suggest that security executives do to mitigate the risk of skimming?
Solomon: Beyond technology, training your employees in recognizing the signs of a past or active skimming incident is vital. Employees of financial institutions are the second most likely individuals to locate evidence of an active or past skimming incident. The timely identification and reporting of the incident – both internally and to law enforcement – will help the chances of arrest and minimize losses to your institutions. Knowing what to look for and how to proactively respond to past and active skimming incidents will increase your chances in successfully thwarting many ATM skimming attacks.
Hudson: Mark is spot on for financial institutions. I would add that in the retail/hospitality/healthcare industries to make sure employees are trained to think of their credit card processing pads as important devices that no one should be messing with, even if they appear to be from an approved vendor. Verify who they are and verify with your security department before allowing anyone access to card processing equipment.


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NOMINATIONS NOW OPEN!
Pet Age Forty Under 40 awards honors the up-and coming pet industry leaders. These are individuals who have shown their devotion to the success of the pet industry and a commitment to professional excellence.
Pet Age 40 Under 40 award recipients will be recognized and profiled in the December issue of Pet Age.
Click HERE to submit a nomination.
Nomination Deadline is Friday, September 8.
Questions? Contact Anna Acquaviva at email@example.com or 732-246-5713.
Sign up for Pet Age's Weekly E-newsletter for the latest in pet business news, recalls and more.


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Jay Promisco Hired as the Senior Vice President of Retail Lending at Sierra Pacific Mortgage
Folsom, CA, Oct. 03, 2017 (GLOBE NEWSWIRE) – Sierra Pacific Mortgage, one of the nation’s top ten private mortgage lenders, is pleased to announce that after a national search, Jay Promisco has joined the company as the Senior Vice President of Retail Lending. Based out of the corporate office in Folsom, CA, Mr. Promisco will oversee the 100+ retail branch network, including more than 500 team members.
Specifically, Mr. Promisco will have oversight of the strategic direction, business development, and market expansion in the retail platform for the company as it continues to grow its nationwide presence.
With 17 years of experience in the financial industry, Jay is a retail leader who has extensive experience running and resourcing retail mortgage banking enterprises. Most recently, he was the Executive Vice President of Joint Ventures for Stearns Lending. His retail mortgage expertise includes business leadership, builder business, portfolio retention, operations, compliance and capital markets, as well as creating onboarding programs and recruiting platforms, overseeing technology implementations, and running joint ventures.
“I am truly excited to join Sierra Pacific Mortgage,” Jay said. “The company’s reputation within the industry and its commitment to its clients and employees is bar none. I can’t wait to lead Sierra Pacific Mortgage’s retail initiatives to further success.”
On Jay joining Sierra Pacific Mortgage, Executive Vice President Chuck Iverson said, “When searching for a leader to fill this role, we knew we needed someone who had both the leadership skills and the mortgage banking business acumen to continue to build the strength of our organization. Jay fits our company’s culture based on his work ethic, integrity and knowledge. We are happy to have him join the team, and look forward to his success!”
Sierra Pacific Mortgage is excited to have Jay join the team and looks forward to his leadership and enthusiasm for the company as we continue to grow and strengthen our retail division!
With more than 30 years in business, Sierra Pacific is continuously focused on adding experienced team members across the country! If you are looking for an opportunity at Sierra Pacific Mortgage, please visit www.joinsierrapacificmortgage.com.


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PIQSOL Holdings, a tech firm located in the United Kingdom, has set its sights on launching the first-ever fractional NFT marketplace on the Solana network. The company has launched an initiative to make NFTs more user-friendly. According to the project’s development team, the marketplace would be comparable to OpenSea, but it will also provide global transactions for fractional digital assets.
Pisqol has discovered how the crypto-based NFTs niche is gaining traction in the global financial landscape. As a result, they want to provide interested parties worldwide with an equitable opportunity to participate in the biggest movement in the crypto-verse today. Fractional NFTs will make this feasible by allowing those who otherwise would not be able to hold these assets to do so.
Note that the platform’s utility token, PISQOL, which allows holders to easily acquire fractional NFTs with a strong growth potential of up to 100x, is already available. Its pre-sale event began on 4 February, but the ICO event will launch on 15 April 2022.
Issues Addressed by Pisqol
Generally, profitable NFTs have grown in value to the point that they may be out of reach for most businesses. For example, buying a BAYC NFT is usually prohibitively expensive, deterring individuals from taking the ‘purchase’ step. According to current figures, NFTs might be sold for as much as $91 million, demonstrating how valuable they are.
According to Dappradar, it reported that the NFT trading activity throughout the third quarter of 2021 exceeded $10 billion. These figures are highly disappointing to those who do not earn a million dollars every day.
Such constraints bore the concept of fractionalized NFTs, which allow many parties to possess tokenized assets. As a result, NFT’s owners can divide portions of their assets in the form of tokens based on their contributions smoothly.
Pisqol intends to address such concerns by developing a marketplace where individuals may avoid the problem of purchasing these “precious” digital items. Furthermore, the business project guarantees retailers that the market would not be as challenging to use as other digital markets currently in the industry.
According to PISQOL Holdings CEO, this initiative aims to transform NFT adoption by making it available to the masses. Not only will it lower minting expenses, but it also minimises the learning curve dramatically.
Pisqol is the first fractional Solana NFT market in the world. This is an enormous step for the industry as it will open up new streams of revenue, innovative onramps, and a movement toward fractional ownership that has never truly been within reach of beginners, lower-income, or even most middle-class customers. As such, Pisqol democratises the ownership of high-value NFTs.
Pisqol has also revealed details about the NFT marketplace, including the availability of choices such as purchasing, selling, and even minting NFTs. The network will also include an NFT authentication service and a multichain minting network supplied by a well-known third-party security service provider.
The PIQSOL initiative provides a complete NFT marketplace comparable to OpenSea but with substantially more functions, including fractional NFT ownership via the PIQSOL’s NFT marketplace, minting, purchasing, and auctioning NFTs, multichain NFT minting, and safe and secure authentication via a third-party security supplier.
Thus, Pisqol is an excellent option for those who would like to invest in those NFTs that are usually too pricey for them. Thanks to its concept of fractionalizing NFTs, users can enjoy access to various NFTs without any financial restraints.
As such, this project will undoubtedly transform the NFT sector and provide much-needed value to the blockchain ecosystem. Pisqol also intends to produce native and integrated mobile applications and connect the PIQSOL Token to other gaming platforms.


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Gaming is littered with companies battling to avoid becoming a one hit wonder: Zynga with Farmville, Angry Birds creator Rovia, Candy Crush maker King. Mind Candy is deep in that same battle, as it tries to move on from desktop-hit Moshi Monsters to mobile. And its task is unlikely to get any easier with the imminent departure of president and chief financial officer Divinia Knowles.
‘This is not happening because I’ve had enough of Mind Candy or fallen out of love with it,’ said Knowles, who has been at the children’s gaming company since 2006 and run its day-to-day operations since last August when larger-than-life founder Michael Acton Smith stepped back into a creative role.
‘I’ve been in this industry for a very long time, and it has been really fun,’ she told the Guardian. ‘But as a COO in the digital world, you can go to many different businesses and they share some of the same challenges, so I’d like to do some of it again.’


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August 19, 2015 |
NEW DELHI: Bengaluru-based startup in HR space, ePoise, has raised over half a million dollars in first round of funding from Orios Venture Partners and other angel investors. The company has also launched its Job Interviews app that lets people find jobs, select and directly take interviews from their smartphones, at any time, from anywhere. ePoise has raised over half a million dollars investment led by Orios Venture Partners and few angel investors, the company said in a statement.
September 3, 2015 |
MUMBAI: Investors and promoters of small startups are not happy with the reworked institutional trading platform (ITP) guidelines issued by market regulator Sebi two weeks ago and several prospective companies have even shelved their non-IPO listing plans, industry insiders say. Angel investors, exchange officials and merchant bankers feel that Sebi's new directive weakens the position of promoters by forcing them to reduce their stake significantly in...
August 21, 2015 |
BENGALURU: Supath Healthcare Services , the parent company of LabsAdvisor, an online marketplace for diagnostic centres and services, has raised an angel funding of Rs 1.2 crore from a slew of angel investors from India and abroad. Investors, who requested anonymity, include individuals from organisations such as Barclays Capital, Deutsche Bank and Strategy and Credit Suisse , among others. Delhi-based LabsAdvisor has about 50 diagnostic centres registered on its platform within four months of inception.
January 30, 2013 |
BANGALORE: Infosys co-chairman Kris Gopalakrishnan is anchoring a network of angel investors in Kerala, displaying a willingness to risk time, money and expertise in a state long regarded as a hotbed of trade unionism. He will contribute 5% of the corpus of the Mallu Angel Network , a group of high net worth Keralites that will invest in new technology ventures in the state. The group aims to raise an initial corpus of $20 million (Rs 107 crore). "There are no angel investors or role models in Kerala to inspire the youth to take up entrepreneurship.
September 2, 2015 |
By Surabhi Agarwal NEW DELHI: Ramgarh, a peaceful hill station in Uttarakhand known for its orchards and views of snow-capped Himalayan ranges, is now emerging an adda for startups with over a dozen high-profile angel investors setting up a base here. Pramod Bhasin, Raman Roy and Saurabh Srivastava, who are among the pioneers of business process outsourcing and IT industry in the country, have come together with some like-minded IT stalwarts including Sanjeev Bikhchandani of Info Edge; Ashish Dhawan, cofounder of ChrysCapital and Ashoka University; and, Puneet Bhatia, country head at TPG Capital India, to develop a private estate spread over 10 acres in the Kumaon hill town some eight hours drive from Delhi.
October 24, 2014 |
BANGALORE: Last-minute hotel booking startup HotelsAroundYou has raised seed funding from a group of angel investors associated with early-stage accelerator VentureNursery. Over 10 angel investors, including Patni scions Amit and Arihant, Aditya Birla Capital Advisors chief executive Bharat Banka and Fame Cinemas founder Shravan Shroff , have invested in the company. Started in 2013 by college friends Harsha Nallur, Mohsin Dingankar and Animesh Chaudhary, HotelsAroundYou was chosen for Venture-Nursery's bootcamp in May. The company, which has launched operations in Mumbai, connects last-minute travellers with hotels looking to sell off unsold hotel rooms for that day. "We used to travel a lot when we were in our corporate roles and realised there was a gap regarding last-minute hotel booking in India," said Nallur, who was previously a senior consultant at advisory firm PricewaterhouseCoopers India.
July 23, 2013 |
NEW DELHI: Kartrocket, an e-commerce platform for SMEs and retailers has raised funds from angel investors 5ideas Startup Superfuel and 500 Startups. "The seed investment round has been led by 5ideas Startup Superfuel and co-invested by 500 Startups and angel Jatin Aneja," city-based BigFoot Retail Solutions , which owns the Kartrocket platform, said in a statement, without revealing the size of investment. Industry sources said the seed investment is about USD 2,50,000 (about Rs 1.5 crore)
December 21, 2013 |
HYDERABAD: At least half a dozen startups building technology solutions ranging from hiring apps to communication services are gaining attention from investors at an entrepreneurial gathering in Hyderabad. While angel investors have committed to backing a few, Microsoft Ventures, the newly launched investment arm of the global software maker, has invited a few chosen startups to make more detailed presentations. "Three firms have caught our interest and we have invited them for further discussions," said Ravi Narayan , director of Microsoft Ventures Accelerator.
December 4, 2012 |
MUMBAI: In the past two years, angel investor and venture capitalist Anand Lunia has considered about 500 start-up applications for funding, with ideas ranging from consumer internet to mobile applications to business software. Of this number, not even 10 were incubated on campus, while more than 50 were from private incubators. Mahesh Murthy, managing partner, Seed Fund, another ideas hunter, has a similar story to share. He has met about 150 start-ups in the past two years, of which about 15 each were from campuses and private incubators.
March 21, 2012 |
NEW DELHI: The finance ministry has said it could bring in more safeguards in the income-tax law to ensure that genuine angel investors are not impacted by a budget proposal to tax exorbitant profits by venture capital funds, but effectively ruled out a rollback. "If you feel additional safeguards need to be provided we will see," Finance Secretary R S Gujral said at a FICCI conference. Gujral was responding to a query on the amendment in the law that seeks to treat share premium in excess of fair market value as income and levy a tax on it. The amendment is aimed at curbing conversion of black money into white by issuing shares at high premium in bogus companies.


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BRAINTREE, MA — The Braintree Town Council will consider a proposal for a medical marijuana dispensary to open in town.
Native Sun Wellness proposed opening the dispensary at 120 Granite St., where Pier 1 Imports used to be. The company also operates a recreational cannabis dispensary in Hudson and another that will open in North Attleboro.
The town council meeting is scheduled for 7 p.m., Wednesday, at Town Hall. Representatives from Native Sun Wellness will discuss the dispensary, its security, how minors will be protected and making sure the store won’t be a nuisance to the neighborhood. Representatives will also answer questions from residents.
For those that can’t make the meeting, there will be a virtual forum at 6 p.m., Thursday. Residents can register for the virtual meeting here.
The Town Council in 2018 voted unanimously to ban recreational marijuana businesses from opening in Braintree. Council members cited residents voting 10,985-9,251 against legalizing recreational marijuana in 2016. The council’s 2018 vote does not apply to medical marijuana.


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Car loans customers search out the 3-seriesBMW's 3-series is one of the most popular used cars for drivers shopping online, according to a new study.
BMW's 3-series is one of the most popular used cars for drivers shopping online, according to a new study.
The survey, put together by classified ads magazine Auto Trader, found that the German manufacturer's compact executive saloon was one of the most searched for by motorists - including those with used car finance.
It was noted that during 2007, the magazine saw over 29 million searches for the 3-series on its website - which Auto Express notes is almost the same amount as the number of searches for the Ford Focus and Vauxhall Astra combined.
Last year's survey revealed that the most hunted car on the site was the Volkswagen Golf, however, the car dropped to second place in this year's results.
Also proving popular with drivers and car loans customer was the Vauxhall Corsa, which took fifth position as well as Ford's Fiesta and the Renault Clio, which took the sixth and seventh places in the table.
Today businesscar.co.uk noted that January values for used cars had witnessed a rise of around 7.9 per cent.
© Adfero Ltd
Posted by Edwin Miles on


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Technically Incorrect: In another exciting interview to promote the new Avengers movie, Iron Man says Apple's new watch is small and not terribly interesting. He prefers his Omega.
The Apple Watch rollout hasn't been the smoothest experience, with buyers facing long shipping delays and confusion about how to actually buy the device, which was released Friday.
A researcher from the National Oceanic and Atmospheric Administration finds a most unusual shark in a most unusual place.
It stares at you -- maybe until you buy an Apple Watch.
We spoke to Ubuntu's mobile boss, Cristian Parrino, to find out how the operating system is different from Android, Firefox and Tizen.
Mattel says a Barbie book that suggests girls can't handle computer code doesn't reflect its brand vision. That won't stop the uproar surrounding the title, which is still available to buy.
To avoid the pain of another Singles Day, a Chinese programmer reportedly organizes an elaborate Apple-centric proposal. Her answer is no.
A South Korean baseball team has installed robots at the stadium that display faces and messages of fans who can't make it to the game.
The pocketable, waterproof, and loud Super-M from NudeAudio met its Kickstarter goal in under a day. Crave's Eric Mack says it's worth waiting for.
Revealed at the Wearable Technologies Conference in San Francisco: the "dirty little secret" of activity trackers and smartwatches is that they're still not worth it.


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Carsales chief information officer Ajay Bhatia has taken out his first Benchmark award in the retail category for his decision to take a gamble and build his own search engine.
Bhatia's team was increasingly finding that their incumbent licensed search engine was struggling to keep up with their requirements. They embarked on a search for one that would, but failed to find exactly what they needed.
Given search functionality was so integral to Carsales' business - 80 percent of visitors to its group of sites make extensive use of search - Bhatia at that point made the decision to develop a prototype in-house that could provide exactly what the company needed.
His 18-month push for perfection paid off - the company is now scrambling to sign up a bevy of retailers the world over keen to take up the Carsales offering.
Bhatia credited his team with his one - in particular one staff member who came up with Ryvuss while on a sick day.
"This is for Michael [Ridgway] .. somehow when you are sick it allows you to be more strategic. And I wish in a positive way he gets sick again," Bhatia said.
Bhatia fought off strong competition from finalists in Dick Smith - its second nomination in three years - and Tennis Australia, both presented strong projects worthy of commendation.
The Benchmark awards ceremony was held at the 7th CIO Strategy Summit.


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Somebody swiped it? Good
From Frankfurt, Germany, comes word that the city's annual book fair, which ended Oct. 14, apparently was a roaring success again this year. By almost every measure, in fact. Despite a one-day strike by transit workers while it was in progress, more than 100,000 people paid up to $46.50 apiece to attend. The event also attracted exhibitors from 108 countries who brought along 400,000 copies of their latest titles, not to mention DVDs and other related products to the showcase Messegelände Exhibition Centre. Oh, and one more thing: Thieves shop-lifted so many of the display copies that local news outlets were able to compile a top-10 list of the most-stolen titles. (Those that were printed in German, anyway.) But hold on, you say, how can that possibly be considered a measure of success? Well, because it turns out that the publishing houses aren't upset over the losses. Quite the opposite: They anticipate them and, what's more, regard that top-10 index as a barometer of future trends. Or, as the spokeswoman for one publisher put it to reporters, "The most-stolen books are usually ... the most likely to end up on the best-seller lists" later on. No word on which title was pilfered most often. But, for what it's worth, one that made the list was the German translation of Nobel Peace Prize-winner Al Gore's opus on climate change, "An Inconvenient Truth."


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Alternative Transportation Becoming Key To Mixed-Use Projects
While metro Atlanta commuters still predominantly rely on personal vehicles, there are a growing number who are changing their habits with other forms of transportation. And that could benefit mixed-use projects, especially those along such pedestrian paths as the Atlanta BeltLine.
Cornerstone Development Partners Senior Vice President Wesley DeFoor said he is seeing a change in the way people who live and work around the BeltLine are traveling, and that change is benefiting Cornerstone's projects.
“It creates a very dynamic experience and enhances the [project's] value,” he said.
Mill Creek Residential Senior Partner Chad DuBeau said the Texas-based REIT is capitalizing on its apartment projects adjacent to the BeltLine and other pedestrian trails in the metro area, including Path400 in Buckhead, by putting bicycle rental and repair shops on the properties.
For DuBeau, it is more than just a matter of establishing an amenity.
“I really think it's our social responsibility to get people to not drive,” he said.
North American Properties also is emphasizing public transit and transportation with its redo of Colony Square in Midtown. The firm recently established a “mobility concierge ” position at the project, NAP Vice President of Development John Kelley said. The employee in that position is there to help tenants and shoppers figure how to get around the city using public transportation rather than hopping into their own cars, Kelley said.
The developer also is putting a bicycle valet in the complex as well.
Even suburban mixed-use centers are eyeing a future where shoppers are less reliant on cars with the advent of autonomous vehicles and services like Uber.
APD Solutions CEO Vaughn Irons said he does not believe that personal cars will be the primary way shoppers get to retail destinations a decade from now.
While his firm is developing a multistory parking deck to service a new $200M sports and entertainment complex adjacent to the Mall at Stonecrest in Rockdale County, Irons said at least two levels of that deck could be converted into playing surfaces.
The sports complex is expected to include 29 playing fields, including for soccer, football and baseball, five full-size basketball and volleyball courts, an outdoor covered stadium, two sports training facilities, a sports medicine facility, a 15,000-seat stadium and a retail and entertainment district.


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WASHINGTON, July 29, 2013 – About the only good news in Detroit these days is coming from Ford Motor Co., which last week reported significant profits in the second quarter and record sales in North America and Asia.
Amid the Motor City’s money woes and rivals’ sluggish performance, the nation’s second-largest automaker has succeeded in reinventing itself based on market demands while eschewing the “quick fix” of government bailouts.
On Wednesday, less than a week after Detroit became the largest U.S. city to file for bankruptcy, Ford announced that its net income rose 19 percent in the second quarter, to $1.2 billion, and that its operating profit had risen by $726 million, to $2.6 billion.
Driving its success has been a focus on efficiency and increasing sales. Ford has kept apace with the bailed-out General Motors Co., the country’s largest automaker.
“Ford constantly monitors the external environment and plans for a variety of scenarios — always aligning our production with the real demand,” said Communications Director Jay Cooney. “We are not afraid to restructure at Ford, wherever and whenever necessary.”
Meanwhile, U.S. taxpayers still are owed $18.1 billion on the $49.5 billion bailout of General Motors, according to a report submitted Wednesday to Congress. GM’s share price would have to nearly triple in order for taxpayers to break even.
“There’s no question that Treasury, the taxpayers, are going to lose money on the GM investment,” said Special Inspector General Christy Romero, who wrote the quarterly report.
When General Motors received its bailout from the Obama administration in 2009, Ford took out a $5.9 billion loan.
Four years later, Ford’s market capitalization of $66.75 billion tops GM’s $60.89 billion. Last year, Ford earned a larger profit than GM from fewer domestic sales.
What explains the reversal of fortune? While GM continues to challenge Toyota Motor Corp. as the world’s largest automaker, Ford dominates the bottom line.
Last year, Ford beat General Motors 9.3 percent to 6.4 percent in earnings before interest, taxes, depreciation and amortization — a key measure of organizational efficiency. Ford also outperforms in return on invested capital, estimated by Goldman Sachs at 16.1 percent for Ford and 11.6 percent for General Motors.
In other words, Ford is the more efficient automaker, and it is squeezing much more profit out of every vehicle it builds.
Ford’s operating margins in North America are 11 percent, almost double GM’s 6.2 percent. In addition, at the end of this year’s first quarter, GM spent $600 more than Ford did on every vehicle it sold via discounts and incentives.
Moreover, Ford’s pension program is in much better shape than GM’s, and while GM has $21 billion in net cash — $11 billion more than Ford — it will need to use much of that cash just to keep its pension plan solvent.
At every turn, Ford’s management decisions have been superior to GM’s. It is years ahead of GM in reducing its number of global “platforms,” or basic chassis designs, down from 27 in 2007 to 14 next year. It plans to reduce that number to nine by the end of the decade.
The smaller number of platforms means that Ford can produce new car models more quickly and at lower cost — and can redesign them much more quickly — than General Motors.
GM, with 30 platforms in 2010, will have 17 in 2018. Ford’s nimbleness can be seen in its quick redesign its popular F-series trucks. GM’s Silverado and GMC redesigns have lagged.
“Ford is now a leader in innovation in the automobile industry right next to BMW,” said Jacquelyn Giardina, Ford’s chief marketing officer, pointing to the company’s 2013 marketing plan. “By understanding the consumer and focusing their attention on their needs and wants, Ford has successfully reinvented their brand to be quite desirable among consumers.”
This focus on innovation, and consumer needs and wants, was exemplified recently in Ford’s performance in tests by Consumer Reports. The publication determined that actual road tests produce lower mileage results for hybrid vehicles than those reported on vehicle stickers.
Ford moved almost immediately to update software in its hybrid vehicles, taking into account actual driving behavior to improve mileage.
Ford also has been looking at social, technological, economic, environmental and political factors to anticipate consumer needs through 2050. This includes looking at demand for more environmentally friendly vehicles, as well as the needs of an aging driving population.
‘We mortgaged everything’
Ford’s efforts have been a matter of sink-or-swim. Without government bailout money, it has been forced to squeeze everything it can out of its investment efforts.
“Ford was gratified to be in a position where we did not need to take the emergency taxpayer assistance from the federal government,” Mr. Cooney said. “Ford made strategic changes early in 2006 that put us in a very different position from our competitors.
“Our leadership decided to take out the ‘largest home improvement loan in history’ to fix our problems ourselves. We mortgaged everything — including the Blue Oval — to obtain the loan, and once we had it, we relentlessly implemented the One Ford Plan with the simple goal of creating an exciting viable company delivering profitable growth for all,” he said. “And, we paid off the entire loan, early and with interest.”
Ford has had higher debt-service costs than General Motors, partly because it took a loan from the government rather than accepting money for equity. It then borrowed $23 billion from its bankers to restructure its production. It had to repay the money, and that intensified the focus of Ford management.
The GM bailout has not been repaid as a loan with interest, but instead is being recovered by sales in stock.
In 2010, the Obama administration began selling off its GM stock for about $33 a share. Its remaining 189 million shares would have to sell for more than $95 each for the government to break even on the bailout deal.
The federal government currently owns about 14 percent of GM stock and aims to be out of the automaking industry by April.
Industry observers note that GM has moved to improve efficiency. The bailout reduced market pressures on the company and put it years behind Ford on the path to recovery, but market pressures remain.
GM has had Ford’s example to guide it, along with the pressure exerted by a resurgent, confident and fiercely competitive Ford.
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