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Welcome to the latest issue of Warehouse & Logistics News. The COVID-19 crisis has accelerated the growth of eCommerce, put another nail in the coffin of the bricks and mortar retail, and given rocket fuel to industries that may otherwise have floundered in the online world, says Paul Dodd, Co-Founder and CTO of Huboo. Ultimately, if people continue to stay home once the lockdown restrictions are lifted – and there is a significant amount of evidence to suggest that this may be the reality – then our industry needs to raise its game. Customers have been tolerant of lengthy lead times, shipment delays and customer service challenges due to the exceptional circumstances we’ve all had to live through. This is unlikely to remain the case once the crisis subsides. We need to strengthen the resilience of supply chains across the industry and place greater emphasis on keeping team members safe and healthy.
In his column, Peter Ward of UKWA writes that a recent survey confirmed the vast majority of warehouses do not make their money on storage – certainly not on storage alone. Over 70% of respondents said that storage charges represented 40% or less of their income. In a modern warehouse, money is made from moving and managing stock, so when outbound flows cease or slow whilst inbound flows continue, warehouses become full and cannot function other than as storage hubs, yielding only 40% of normal income (and in some cases much less). In appealing to the government for support in terms of a six-month Business Rates holiday, UKWA is exercising its primary duty of care to members and the wider logistics industry through these unprecedented and challenging times.
Our warehouse supplement points out that the coronavirus pandemic and subsequent lockdown sent the logistics sector into overdrive as demand for food, medical supplies and other essentials escalated rapidly, with many supply operations initially struggling to meet demand. Once the pandemic is over and a proper study of the logistics sector’s response is undertaken, it will be interesting to analyse the statistics to see if accident rates increased as a result of the extra demands placed on the industry. The pandemic has heightened the sense of safety awareness, not just in the logistics industry but across society in general, with Personal Protection Equipment (PPE) hitting the headlines.
The Covid-19 outbreak has only added to the ever increasing appetite for online shopping, both in terms of the sheer volume of traffic and the demand for different sized packages. This has made the role of sortation conveyors absolutely crucial. The breadth of choice of conveyors may appear bewildering at first and it can be a challenge to know which one to pick, says our conveying and sortation feature.
Our cover story focuses on Thai digital infrastructure company, TRUE Corporation. Swisslog was the first company to recommend a viable automation solution to TRUE. With more than 160 projects implemented worldwide, Swisslog is the AutoStore expert. AutoStore is a unique and simple solution that uses robots and bins to quickly process small parts orders. It provides better use of available space than any other automated system, thanks to its unique design that enables direct stacking of bins on top of each other and storage of multiple SKUs in a single bin.
Enjoy reading the issue, and stay safe.


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Urian B., Tech Times
When Facebook wants something done, it’s most likely that they will find a way to get it. With the company’s decision to change its name to “Meta,” existing trademark applicants of “Meta” are now supposedly open to selling the trademark to Mark Zuckerberg. Of course, this would come at a price.
Trademark Applicants of ‘Meta’
According to the story by HypeBeast, the trademark applicants of “Meta” are now supposedly open to selling to the Facebook founder Mark Zuckerberg for the rebranding of Facebook. This, however, would still come at a price.
When HypeBeast spoke to TMZ, a certain Meta PC founders Zack Shutt and Joe Darger, shared that while their petition has yet to be granted, they are still very willing to stop their application for the price of a whopping $20 million USD might actually seem quite excessive. It was noted that the pair pointed out that they will soon be required to completely rebrand the Meta PC if Zuckerberg decides to pay.
Mark Zuckerberg Rebranding of Facebook
As of the moment, however, Facebook founder Mark Zuckerberg has not yet given a response to the recent offer of Darger and Shutt. The Facebook founder reportedly announced the new and exciting social media platform’s rebranding in late October 2021. Zuckerberg gave this statement during a publicly held conference introducing Facebook’s new name and its purpose.
It was noted that starting from the announcement, the company is going to be “metaverse first.” It was noted during the announcement that their brand is now so closely linked to just one product that it might not possibly represent everything that they are already doing today and “let alone in the future.”
Facebook to Venture Into the Metaverse
Mark Zuckerberg then continued noting that over time, he hopes that the company will be seen as a metaverse company. The Facebook founder expressed that he wants to anchor his work and identity directly on what the company is building towards.
The announcement by Facebook noting the company’s plan to venture into the metaverse was greeted with massive attention. Of course, one of the most notable reactions was the new Facebook meta memes that started to circulate online.
Read Also: Facebook Meta Reality Labs Acquires Supernatural VR Workout App Maker
Facebook Meta Affect on Cryptocurrency
It wouldn’t be Facebook-related if a little humor wasn’t splashed over the announcement. As of the moment, new Facebook Meta memes are now sprouting left and right both on popular social media as well as other media outlets.
The Facebook Meta announcement has also reportedly affected game concept tokens bringing the price up significantly. As of the moment, MANA is one of the most positively affected tokens due to the announcement of the Facebook Meta announcement.
According to Wu Blockchain on Twitter, however, the highest growth seen due to the name change was StarLink or STARL that saw a whopping 126% increase in 24 hours. When it comes to long-term gains, however, it is still important to DYOR before investing in any potential token.
Related Article: Facebook Meta | What Does the Metaverse Mean for User Privacy and Security?
This article is owned by Tech Times
Written by Urian B.
ⓒ 2021 Techbyandroid.com All rights reserved. Do not reproduce without permission.

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Remember Mrs. Smith's Pies? Retired Smith's employee Ralph Kelley is wishing Tasty Baking Co. workers a better experience than what happened to his colleagues at Smith's former Pottstown plant when they were purchased by Flowers Foods in 1996.
Flowers agreed to buy Tasty for around $34 million plus more than $100 million in debt last week, and said Tasty's South Philly and Oxford plants would stay open.
Kelley fills in the earlier history: "Smith sold to the Kellogg Co. in the late '70s. Kellogg sold it in 1994 to Smuckers. They saw the same challenges that Kellogg saw: The younger generation were not eating pies. Flowers then purchased it from Smuckers" in 1996.
"Flowers closed the operation within a short time, and all the union help lost jobs," Kelley told me. "They moved to a non-union operation in Stilwell, Oklahoma," and later sold the brand to current owner Schwan Foods.
Kelley left Smith along the way, and joined Kellogg -- which bought Flowers' former Keebler operation "and has been very successful with it" after improving delivery times on fresh items.
Kelley knows Flowers has pledged to keep Tasty in business, but worries "the other shoe has yet to fall."


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We Buy Conveyor Belt Worldwide — EZA Recycling Solutions
Jun 10, 2016· Scrap conveyor belts are repurposed into cow mats, dock bumpers, grain pit covers and other products, says Ezekiel Setne, founder of EZA Recycling. Recyclers haven’t traditionally been attracted to scrap conveyor belts, he says. But times have changed. “When we started there weren’t any companies buying rolled conveyor belt,” Setne says.


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ROANOKE, Va. (Jan. 27, 2014) — Automotive aftermarket parts retailer Advance Auto Parts Inc. will report its fourth quarter and full-year results before the market opens on Thursday, Feb. 6.
The company will detail its results during a conference call scheduled to begin at 10 a.m. Eastern Time on that date. The information will be made available concurrently on Advance’s website. The call also will be available by calling 866-908-1227. Participants should use the pass code Advance Auto Parts.
A replay of the conference call will be available on the website for one year.
As of Dec. 28, Roanoke-based Advance operated 4,049 stores in 39 states, Puerto Rico and the Virgin Islands.
Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?
|I wholeheartedly support their action – something needs to be done.||
|I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.||
|I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.||
|I’m kind of on the fence and not sure what’s right, but need more information before deciding.||
|I don’t really care whether or not relief is granted.||
|Total votes: 78|


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Seably, the global online marketplace for bespoke maritime training, welcomes Rikke Louise Haugen Olsen in her new role as Seably Business Development Director for the Europe, Middle East and Africa (EMEA) region. Rikke is a strong champion for technology and the empowerment of seafarers through accessible personal development and training. Her unique commercial, digital and maritime background will strengthen and enrich the growing, diverse and accomplished Seably leadership team.
Rikke is a seasoned Client Director who has occupied senior roles in sales and development in both shipping and commercial operations. Rikke qualified as a dual officer from Denmark’s leading institution for marine education, the Maritime School Svendborg International Maritime Academy (SIMAC). She is also a graduate of the prestigious Copenhagen Business School in Denmark and highly skilled in Customer Service, Coaching, Customer Satisfaction, Sales Management, HR and Change Management.
Rikke’s move to Seably is a natural progression building on her experiences in digital platforms, the maritime industry and her strong championing of the empowerment of the seafarer. As Rikke said, “Our ability to develop ourselves is very important and Seably is all about giving power back to the seafarer. Career progression within the maritime industry is mostly driven by the shipping companies. Through virtual and digital platforms such as Seably, seafarers can develop their own personal plan for development and promotion. They can follow this plan at their own time, pace and place.”
She continued, “Seably presents a win-win situation for both shipping companies and the seafarers. It also moves above and beyond the expected training on compliance and safety on land and at sea. I am delighted to be part of the Seably team and I am convinced of its aims, use of technology and growth plans for the global marketplace. Seably is changing the maritime sector. I consider it to be a strong offer for the industry that is making quality virtual training and development accessible to all, anywhere and at any time. I look forward to contributing to this journey with my unique background in technology, commercial and maritime industries.”
Seably was created by seafarers for seafarers. It is an innovative global online platform that offers exclusive and in-depth quality content. It delivers effective immersive learning for the maritime sector in a unique, digitalised, and online format virtually anywhere in the world.
Andrea Lodola, CEO of the Swedish-owned Seably platform said, “With Rikke joining our leadership team within the EMEA region, we continue to strengthen our internal expertise. Rikke is a recognised specialist in her field and brings a unique mix to Seably. We are delighted to have her on our team. As a premier destination for seafarers and shipping companies globally, Rikke will work with and support shipping companies and seafarers with their participation within the virtual and digital Seably marketplace.”


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WorkTech News From the Week of February 4th: Updates from Deloitte, Axon Ivy, iGrafx, and More
The editors at Solutions Review have curated this list of the most noteworthy WorkTech news from the past week. This roundup covers a new acquisition by iGrafx, the acquisition of Axon Ivy, new features from Deloitte and SugarCRM, and a new partnership in the marketing automation space.
Keeping tabs on all the most relevant ERP, BPM, and MarTech news can be a time-consuming task. As a result, our editorial team aims to summarize the week’s top headlines in the marketing and enterprise technology marketplaces. Solutions Review editors will curate vendor product news, mergers and acquisitions, venture capital funding, talent acquisition, and other noteworthy WorkTech and MarTech news items.
Top WorkTech News for January 31st-February 4th, 2022
On January 31st, Axon Ivy announced that it had been acquired by the Ricoh Group, a worldwide business process transformation and information management technology provider. The decision was made to help Axon Ivy better address demand in global digital transformation initiatives. Ricoh’s worldwide reach and portfolio of services will help Axon Ivy support new and existing clients to improve innovation, security, and sustainability with new technologies. Axon Ivy will act as an independent subsidiary under Ricoh and retain its staff, products, partners, and branding.
Deloitte Expands its Digital Service Delivery Platform with New Multi-Cloud Capabilities for Government Agencies
Deloitte recently announced a new expansion for its digital service delivery platform. The expansion will introduce new features designed to help government agencies navigate multi-cloud challenges, benefit from cloud transformations, and unlock improved flexibility, scalability, and security. With Deloitte’s expanded delivery platform, government-centric companies can implement multi-cloud environments, strengthen cloud architecture, manage applications, host services across multiple providers, protect critical data, and more.
iGrafx Acquires Logpickr, Expanding its Process Management Portfolio with New Process Mining Capabilities
At the OPEX Week Business Transformation World Summit, iGrafx announced its acquisition of process mining specialist Logpickr, a France-based company known for the patent-pending Process Explorer 360 software solution. The investment will help iGrafx continue expanding its approach to process improvements with “next-generation” process mining capabilities to improve operational excellence, digital transformation initiatives, regulatory compliance, and more. Process Explorer 360 will be incorporated into iGrafx’s business process management (BPM) platform.
SugarCRM Acquires AddOptify and Introduces New Playbook Functionalities to its CRM Platform
On February 1st, SugarCRM announced that it had acquired AddOptify, a guided selling solution provider for mid-market companies that’s been working with SugarCRM since 2016. The acquisition means SugarCRM will be introducing new integrated playbook functionalities to its AI-driven CRM platform to support guided selling and CRM process automation. With these new tools, SugarCRM users can design, visualize, and automate various sales, marketing, and service processes across their company.
Upstream Announces a Partnership with Socital to Combine Mobile Marketing Automation with E-Commerce Marketing Technology
Upstream recently announced that it has entered into a “strategic agreement” with Socital, an e-commerce MarTech provider, to help enhance its technology, improve its capabilities, and expedite its expansion into the e-commerce sector. With Socital, Upstream can expand its mobile marketing automation functionalities with new tools for helping online retailers gather first-party customer data, deploying targeted promotional campaigns, and more. While the agreement means Upstream secures Socital’s e-commerce technology and expertise, Socital will continue to act as an independent company.
For consideration in future WorkTech news roundups, send your announcements to firstname.lastname@example.org.


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Ten months after a joint venture was first announced, joint storage offerings from Lenovo and EMC are now available through Lenovo’s channel partners.
Network Attached Storage products from LenovoEMC, the joint venture formerly known as Iomega, are also now part of Lenovo’s channel program, giving the PC vendor another arrow in its quiver as it builds its case as a server and storage player.
The company announced that its px desktop and rackmount NAS products will now carry the LenovoEMC brand, while its more consumer-grade EZ Media and ix series desktop NAS will continue to be marketed as Lenovo Iomega. Unlike its consumer brethren, the enterprise-grade products include server-class drives, hot swap, support for volume encryption and snapshot backups.
Lenovo has been building its case on the enterprise side, and particularly around storage, in recent months. North American channel chief Chris Frey made reference to the company’s entrance into the storage market in his presentation at the Spring VentureTech Network Invitational last month, and Kevin Nelson, executive director of enterprise systems, was an even stronger voice for the new business at Varnex two weeks before. And the company was reportedly in talks with IBM to acquire Big Blue’s server business, although thus far nothing has materialized from those talks.
In the server market, Lenovo has been adamant that it’s keen to let its competitors duke it out for the high end with blade servers and converged architecture plays, and that it wishes to make its presence felt in the volume server market, with both tower models and rackmount servers for the SMB market. And that strategy appears to be paying off – although starting from a relatively small base, Lenovo says it grew server shipments through the channel by 76 percent over the course of 2012.
Getting its storage wares into the hands of the channel is an important step in Lenovo’s attempts to build its presence in the market. While the NAS offerings are also available from Lenovo on a direct basis, the company’s target market of SMB companies tend to be served by local solution providers, so recreating its success in building up a large and loyal channel for its PC business in North America is key to its server and storage business continuing to grow.
In its early years, the vendor frequently portrayed itself as an alternative choice for partners of major players like Dell and HP, and enjoyed some success with those efforts. With their comments at VTN and Varnex, respectively, Frey and Nelson seem to be taking a similar tack on their new target market.
Lenovo is a long way from competing with the likes to Dell and HP in the server and storage market in terms of depth and breadth of product offerings. But given its target market in the “volume” server business for SMB, and the fact that it’s starting with a partner base that’s already experienced in selling its PC offerings into that market, the China-based company can probably continue to grow its server business, an important part of its preparation for what it calls the “PC-plus” era in the market.


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Investor excitement surrounding Nikola Corporation (NASDAQ: NKLA) reached a fever pitch on Wednesday as the stock price surged by more than 12%. This surge comes as investors are gripped by the fear of missing out (FOMO) on potential gains. The shares skyrocketed to a peak of $1.03, marking the highest level since May of this year. Notably, the stock has rebounded by approximately 50% from its lowest point earlier this year.
Is NKLA a good investment?
Nikola Motors, a renowned company engaged in the manufacturing and sale of large trucks to various industries such as deliveries and consumer staples, has already commenced the sale of its battery electric vehicles. While the trucks have achieved considerable success, the company has made a strategic decision to shift its business model.
In an official statement, Nikola Corporation revealed its decision to concentrate on hydrogen-powered trucks, which offer superior features compared to battery-electric alternatives. Notably, hydrogen trucks boast a faster refueling time in comparison to battery-powered trucks, which can take hours to charge.
Moreover, hydrogen is remarkably lightweight when compared to batteries, enabling hydrogen trucks to carry larger payloads and travel longer distances. Conversely, battery trucks, like those produced by Tesla, are limited to transporting lighter materials and products.
However, Nikola faces the challenge of an underdeveloped hydrogen infrastructure, which impedes its potential for international success. Consequently, the company is focusing primarily on the North American market, having recently divested its European business to Iveco.
Nikola is a cash incinerator
Another obstacle for Nikola Corporation lies in its substantial cash burn rate. In the most recent quarter, the company generated $11.1 million in revenue while incurring costs exceeding $44 million. Consequently, Nikola suffered a net loss of over $169 million, bringing its cumulative net loss to almost $2 billion over the past ten quarters.
Furthermore, Nikola’s balance sheet reveals a troubling state of affairs. While the company possessed over $136 million in the last quarter, this figure is lower than the $236 million recorded in the December quarter and the $319 million in the previous quarter.
Consequently, this pattern suggests that Nikola will require additional capital as it endeavors to ramp up production. Similar to other electric vehicles manufacturers like Rivian and Lucid, scaling up production proves to be a costly endeavor. Notably, Nikola’s outstanding shares have skyrocketed from 60 million in 2018 to over 475 million at present.
Looking ahead, Nikola aims to achieve profitability measured by earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2025. However, this objective necessitates raising additional capital, resulting in further dilution for the company.


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Posted Fri Dec 11, 2009 at 11:00 AM PST by Tom Landy
The acclaimed psychological thriller from Joel David Moore and Adam Green is headed for high-definition in February.
Starz/Anchor Bay Entertainment says they will be bringing 'Spiral' to Blu-ray on February 2.
Specs and supplements haven't been revealed yet, but suggested list price for the Blu-ray has been set at $17.98.
You can find the latest specs for 'Spiral' linked from our Blu-ray Release Schedule, where it's indexed under February 2.
See what people are saying about this story in our forums area, or check out other recent discussions.
The latest news on all things 4K Ultra HD, blu-ray and Gear.


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What’s next for Dartroom?
With the current shift of NFT Marketplaces introducing zero or optional creator royalties there is one notable platform that emerges as utterly loyal to their artists. A marketplace who, in the past, even created a product to guarantee royalties via a new type of NFT. Dartroom is a truly marvellous marketplace.
Founded by two Algo enthusiasts whose partnership was birthed in the public Algorand Discord channel have found themselves, only 18 months later, with a sought after digital art marketplace boasting 1600 artists and thousands of sales. The ‘Digital art room’ opens up collectors to a new demographic of artists featured from all around the world thanks to their impressive calibre of content on display.
The catalogue of works range from convivial charactertures to Turner-esque landscapes of dystopian worlds.
Launched back in 2021, the curated marketplace has completed a successful seed round led by Algorand venture fund juggernaut Borderless Capital, which also saw a personal investment from Managing Director David Garcia. The added investment forges the optimal environment to build upon the brilliant work from founders Stef and David and the rest of the team, subsequently paving the way for new innovation to be birthed on Dartroom.
Over the next few months Dartroom 2.0 will see a range of new updates:
- Dartroom API, to allow for anybody to list NFTs for sale on their own website powered by Dartroom;
- Generate income statements denoted in local currencies for artists;
- Removal of ‘Smart NFTs’ 🙁
- Purchase NFTs in a range of cryptocurrency on the Algorand blockchain;
- Building out a Dartroom native indexer and IPFS image hoster. – Fileroom, extremely exciting.
An impressive product and roadmap update has seen the headcount at Dartroom increase along with a new hire in marketing to improve their brand image online, confirmed to Tokenblogs by co-founder Stef De Groot.
Interestingly, Dartroom’s on-boarding of artists is focussed on creators outside of the Algorand ecosystem with their users coming mainly from competitor chains and previously closed down NFT marketplaces. Only as of a few days ago Algo Foundation’s CTO John Wood’s reported an uptick in developers possibly coming from Solana; a correlation no doubt attributed to the exodus of liquidity and confidence in the rival ecosystem.
Could SOL native NFT artists and collectors find a new home on Algorand and more specifically on a highly reputable and curated digital art marketplace like Dartroom? Tokenblogs thinks so.
Whilst some NFT marketplaces are just being launched Dartroom has 18 months of valuable user feedback, development experience and community building over it’s competition. By expanding it’s product offerings to APIs and indexers could Dartroom emerge, in the long run, victorious as the benchmark for a successful NFT marketplace on Algorand?
Dartroom’s V2 updates shall be launching early next year.
This article is an Algorand digital asset and was purchased through https://tokenblogs.app
*All articles published on the Shufl.app website are the opinions of the author. As opinion pieces they may not reflect the opinions of Shufl Inc. These articles are created purely for entertainment and informational purposes only and do not constitute investment advice. Cryptocurrency and NFTs are highly volatile assets and you should always do your own research before making any investment.


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Shares of Caterpillar, the construction and mining equipment maker, saw gains as high as 5.4% on Tuesday after reporting stellar second quarter results and raising its full-year forecast for the second time.
The stock hit highs it hasn’t seen in five years after reporting sales of $11.33 billion, way ahead of the $10.93 billion that analysts had been waiting for according to Thomson Reuters. Net income was $802 million, and $1.49 per share excluding items. This was not only a 46% increase from the year ago quarter, but also beat estimate of $1.26 per share.
China was a big help in boosting sales and the Asia Pacific market offered a 23% increase in sales for the quarter. Sales in North America, which is the company’s biggest market, were up 7% for the period.
CEO Jim Umpleby remarked, “construction in China and gas compression in North America were highlights in the quarter.”
Looking ahead, the company has forecast adjusted earnings for 2017 of around $5 a share. Previously the company forecast $3.75 a share. Revenue for the full year is expected to be in a range of $42 billion to $44 billion. Previously Caterpillar had forecast $38 billion to $41 billion.
Disclaimer: We have no position in Caterpillar Inc. (NYSE: CAT) and have not been compensated for this article.


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China is second only to the United States in Internet traffic, according to a survey released yesterday.
But the US still held a commanding lead in this category, according to WebSideStory, an Internet analysis firm.
According to the company, China accounted for 6.63 per cent of global internet traffic, second only to the US, which accounts for some 42.65 per cent of online activity worldwide.
Behind China, by percentage, is Japan (5.24 per cent), Britain (3.94 per cent), Canada (3.93 per cent) and Germany (3.64 per cent).
The online analysis company said its figures show that the Asian markets are fast emerging as a leader in online usage. Last year Germany was second behind the US with 5.56 per cent of Internet users.
"We're seeing China and other countries grow into significant players on the web," said WebSideStory vice-president Geoff Johnston.
"Businesses should take note of this as they develop their online strategies."
The company, through its StatMarket division, bases its numbers on surveys of millions of internet users accessing some 125,000 sites worldwide.
The increase in Asian Internet usage comes at a time when the Chinese government has been cracking down on web access, closing Internet cafes and asking Internet companies to sign promises that they will not post content offensive to the Chinese government.
Yahoo! China has signed that pact, Yahoo! officials in the US have confirmed.
A group of 18 Chinese dissidents and intellectuals on Monday published a "declaration of Internet users' rights" in protest of this pact. The declaration calls for complete freedom for Chinese people to surf the Internet.
The Beijing government's official estimate showed some 46 million Internet users in China in June, but some private surveys put the number at above 50 million.
Online rating service Nielsen/NetRatings said recently that 56.6 million Chinese live in Internet-connected homes, making China second only to the United States in the number of home Internet users.


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Francis Fukuyama, the American political scientist who once described the collapse of the Soviet Union as the “end of history,” suggested that Russia’s invasion of Ukraine might be called “the end of the end of history.” He meant that Vladimir Putin’s aggression signals a rollback of the ideals of a free Europe that emerged after 1991. Some observers suggest it may kick off a new Cold War, with an Iron Curtain separating the West from Russia.
As an expert in global supply chains, I think the war portends the end of something else: global supply chains that Western companies built after the Berlin Wall fell over three decades ago.
Supply chains – often vast networks of resources, money, information and people that companies rely on to get goods or services to consumers – were already in disarray because of the COVID-19 pandemic, resulting in massive shortages, disruptions and price inflation. The war and resulting sanctions against Russia have immediately put further strains on them, prompting skyrocketing energy prices and even fears of famine.
But beyond these short-term effects, I believe the war in Ukraine could drastically reshape global supply chains in a way the pandemic never did.
Immediate effects: Fuel and famine
Russia accounts for less than two percent of global gross domestic product, while Ukraine accounts for only 0.14 percent. As a result, they have little direct impact on global supply chains – except in a few very important areas.
Let’s start with the most obvious one: energy. Russia supplies nearly 40 percent of Europe’s natural gas supply and 65 percent of Germany’s. It is the third-largest oil exporter in the world, accounting for 7 percent of all crude oil and petroleum product imports into the United States. After the Biden administration signaled it would stop importing Russian oil, the price of crude topped US$130 per barrel for the first time in 13 years, and consumers in some parts of the U.S. have seen average gasoline prices rise above $5 per gallon.
Less obviously, Russia and Ukraine account for nearly one-third of all global wheat exports. Several countries, including Kazakhstan and Tanzania, import more than 90 percent of their wheat from Russia. The war has the potential to disrupt the still-recovering global food supply chain and endanger the livelihoods of millions of people.
Even less obviously, Ukraine produces 90 percent of the semiconductor-grade neon used in the United States. Russia, on the other hand, provides the United States more than a third of its palladium, a rare metal also required to make semiconductors. Although companies have enough inventory to fulfill immediate needs and may find alternative suppliers, some disruptions are inevitable. And this comes at a time when the world is still suffering from a severe chip shortage, which has slowed auto production and sent new and used car prices soaring.
It is also worth noting that Russia is a dominant exporter of titanium and titanium forgings, which are popular in the aerospace industry because of their light weight. This war will further stress the aerospace supply chain.
While the direct effects of the war on supply chains are relatively limited, the impact on the global movement of goods and services has been significant – I believe even greater than from COVID-19.
After 36 countries, including EU members, the U.S. and Canada, closed their airspace to Russian aircraft, Russia retaliated with the same restrictions. As a result, goods transported by air freight from China to Europe or the Eastern U.S. may need to be rerouted or use slower or more expensive modes of transportation. The China-Europe rail freight route that goes through Russia, which was experiencing a boom in 2021 because of congestion in major ports, now faces mounting cancellations from European clients.
The war has also had a devastating impact on global trade movements, with hundreds of tankers and bulk carriers stranded at ports as a result of sanctions imposed on Russian-connected ships. It has also resulted in severe travel and transport restrictions imposed on Russia and Belarus in an unprecedentedly rapid and broad manner that has been coordinated among multiple nations.
In addition, the disruption of the route from China to Europe and the U.S. could do severe damage to China’s “Belt and Roads” initiative. That’s the ambitious trillion-dollar project aimed at reshaping global trade and affirming the dominance of a China-centric global supply chain, especially in Europe and Asia. Because both Russia and Ukraine are critical links in the initiative, it will almost certainly need to scale back in size and scope.
A supply chain Iron Curtain
The New York Times columnist Thomas Friedman, a true believer in globalization, in 1996 famously theorized that no two countries that both have a McDonald’s would ever fight a war against each other. McDonald’s has about 850 restaurants in Russia and 100 in Ukraine, all of which have now been temporarily closed.
His point was that countries with economies and middle classes big enough to support a McDonald’s “don’t like to fight wars; they like to wait in line for burgers.” It was also based on the belief that rational economic calculations will always triumph over geopolitical conflicts – that is, leaders in such countries wouldn’t let their differences get in the way of trade and making money.
And the supply chains that companies erected in the decades since then have crisscrossed the globe, ignoring old enemy lines for the sake of efficiency and higher profits.
Friedman now concedes Russia’s action has shattered that theory. I agree, and in fact the world may now be on the cusp of a new type of supply chain Iron Curtain with Russia and its allies on one side and the West on the other. Companies will no longer be able to separate business from geopolitics.
And those allies include China, which remains pivotal to most Western companies’ supply chains. Despite China’s ambiguous stance on the invasion, the war will likely serve as a catalyst to reduce that dependence, at least for critical products such as materials used for semiconductor manufacturing, medical supplies and electric batteries.
Moreover, the growing emphasis of shareholders and regulators on environmental, social and governance issues means how a company does in each category can affect its daily operations and cost of capital. On the issue of Ukraine, the push to be more socially responsible is one reason companies have overcomplied with sanctions. It’s also prompting them to proactively avoid geopolitical risks, which can involve retreating from an entire economy.
Russia’s war against Ukraine is still ongoing, and there’s no way to know for certain how long the sanctions will remain in place or whether companies that have chosen to leave Russia will return. But I believe one thing is certain: Global supply chains, like the rest of the world, will never be the same again as a result of this war.
is Professor of Operations Management & Business Analytics, Carey Business School, Johns Hopkins University.
Republished with permission from the Conversation.com.


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Takeaway food and drinks on offer at Himley Hall
People visiting Himley Hall and Park can take advantage of a takeaway service from the terrace.
Visitors can purchase refreshments through a safe hatch from the hall's south facing terrace.
It is hoped the service, which is run by the Himley team, will help people enjoy a longer stay at the popular park site.
Councillor Ian Kettle, Dudley Council's cabinet member responsible for halls, said: "We have been working to find a way to safely resume our coffee service at Himley Hall and Park and we are delighted to confirm that people will be able to get a take away service from today.
"We are reminding visitors to continue to observe social distancing, as per government advice, and to be considerate of staff and other people throughout their time at the hall and park."
The service opened yesterday(30). The Himley terrace hatch will be open between 11am and 4pm, Tuesday to Sunday.
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TUI, the UK’s largest holiday company, has this week celebrated its first flights for summer to three new destinations for 2019 from Cardiff Airport.
Holidaymakers from Wales boarded the first flight to Naples (Italy) today with Dubrovnik (Croatia) and Hurghada (Egypt) flights taking off later in the week, so customers can also now enjoy the popular destination of Croatia, plus the resurgence of Egypt with these new flights from Cardiff Airport.
Flights to Naples have been added to support the new homeport for the cruise ship Marella Explorer 2 which will sail to some of the finest European cities including Venice, Rome and Dubrovnik. Flights to Dubrovnik give customers the chance to enjoy a holiday on land or join Marella Celebration for the ‘Adriatic Affair’ cruise itinerary which includes Croatia, Italy and Slovenia.
To celebrate the launch of the routes today, there was a cake at check-in for customers to enjoy. Deb Barber, CEO at Cardiff Airport, was on hand to welcome customers onboard alongside the TUI Airways cabin crew flying the holidaymakers.
New regional flying routes mean customers can visit their favourite holiday spot more easily than ever before. A holiday to Dubrovnik and the surrounding coast offers stunning views, an ancient city and chic bars. Naples and nearby Sorrento offer cobbled streets, traditional pizza and beautiful cliffs overlooking the coastline whereas Hurghada provides camels and the Sahara Desert, with a vibrant town and scenic beaches.
TUI customers can now experience more of what the brand has to offer with Egypt, Croatia and the Sorrento region all home to their own TUI Sensimar hotels; the 4T TUI Sensimar Makadi Gardens, Hurghada, the 4TPlus TUI Sensimar Kalamota Island Resort, Kolocep and the 4T TUI Sensimar Atlantic Palace, Sorrento. The adults-only resorts provide first-class dining and total relaxation.
As an important regional base for TUI, holidaymakers now have over 90,000 additional seats and three new routes to choose from when booking their summer holiday.
In total holidaymakers have 25 destinations to choose from when booking their summer holidays from Cardiff Airport, giving more choice than ever before from the diverse collection of destinations and hotel concepts TUI has to offer.
Karen Switzer, Director of Aviation Planning for TUI UK & Ireland, said: “It is great to see our customers heading off on their holidays to our new summer holiday destinations. These three new flight routes open up new holiday opportunities for customers flying from the Welsh capital. In total we have increased our capacity this summer at Cardiff Airport by over 90,000 seats, offering holidaymakers even more choice and flexibility than ever before.”
Deb Barber, CEO at Cardiff Airport added:
“We are delighted that TUI have added three fantastic destinations to their schedule, offering our customers even more choice when booking their getaway. Naples, Dubrovnik and Hurghada are fantastic new routes for sun-seekers and cruise-lovers alike, and the addition of seats including extra flights to Greece and the Balearics shows TUI’s commitment to increasing the choice for passengers flying from Cardiff Airport.”
TUI launched its summer 2020 programme five months earlier than usual last November as a response to consumer behaviour. With more customers, especially families, wanting to book earlier with summer 2020 holidays now on sale holidaymakers have the opportunity to secure their favourite hotels or preferred flight options from Cardiff Airport.


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iOS in POS
Came across this Quora question/answer today which contains a short list of retailers who have committed to purchasing “significant” quantities of iOS devices for use in the retail selling process.
The article lists:
- Gap/Old Navy
- Ann Taylor
- Urban Outfitters
- JC Penny
- Tiffany and Company
- Victoria’s Secret
- Outback Steakhouse
- Guitar Center
I’d count seven of those as “upscale brands”. Apple’s image will fit in well there.
One plus in Apple’s corner which I bet influences the decision to adopt their devices in POS environments is that they rarely rev their products. One new iPhone a year (if that, recently) to contend with, and the form factor barely changes. Compare that with the avalanche of Android devices and their varying form factors, OS versions, and OEM UI customizations.
(Edit: 2012-Mar-14 -- Add Moosejaw to the list )
Looks like the Zebra ET1 rugged Android tablet is out of the gate.
I’ll be talking with some people at Zebra one-on-one in a week or so about the platform, the development tools and viability for TrackAbout. I’m excited to learn more and get some tough questions answered.
Googling for the ET1 isn’t turning up any news whatsoever except the typical product announcement fluff coverage from the usual gadget sites. Not terribly surprising, given the device is squarely targeting enterprise retail and not the general consumer market. But it’d be nice if Zebra would get some news out there regarding any early customers who are planning large scale deployments with the device.
This is the first viable rugged Android platform I’ve seen that has potential for our product space. It’s great that Zebra has made this move. They’re the market leader, and if anyone can do it, they can. What’s not great is that it’s the first and only of its kind. It’s going to take time to see if it can get traction. Also, there’s just the one form factor, one size fits all.
Zebra is targeting retail (probably its biggest sector) and not industrial applications for now. A high velocity/volume barcode scanner won’t be out until Spring 2012, according to Moto. The only scanner for now is the built-in camera. That’s not going to fly in high volume/velocity scanning environments where users are accustomed to laser or linear imager scanners. It has a USB removable module, which is terrific, and could pave the way for third party hardware providers to create all manner of pluggable devices, such as RFID scanners.
Another negative for the ET1 is the lack of cellular radios. Wi-Fi only.
I’m looking forward to learning more.


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Distribution this week of truckloads of food supplies donated by 'Help Tonga Switzerland' has reached over 300 vulnerable and affected families on Tongatapu in the aftermath of the volcanic eruption and tsunamis.
You are here
Results for food supplies
Wednesday 11 May 2022
Tuesday 13 July 2021
Tonga is experiencing a sugar famine that’s likely to last another month. Containers of sugar expected to arrive this weekend have missed shipping connections and will not reach Tonga until the end of August, according to one importer, who is still waiting for his January order to arrive. Deliveries that used to take 6-8 weeks are now taking 5-6 months to arrive in Tonga.


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Ridesharing company Car2Go experienced a significant theft of its high end cars, including dozens of Mercedes CLA sedans and GLA sport utility vehicles, on what should have otherwise been a dull Monday in April in Chicago, according to Bloomberg.
Demand for Car2Go’s high end vehicles mysteriously spiked one Monday and, instead of these Benz’ being returned, they wound up congregated together on several blocks in West Chicago. When the company’s employees went to retrieve the vehicles, they found a group of thieves had claimed them as their own. Some blocked the vehicles in to prevent repossession while others threatened the company’s employees.
And while Car2Go has the ability to remotely disable vehicles, the situation made it difficult for them to figure out which ones to disable. After the theft, Facebook videos begin showing up of Mercedes’ around Chicago being joyridden, totaled and stripped of parts. Kendell Kelton, a Car2Go spokeswoman said:
“This was a unicorn incident for us as a company. We’ve never seen this type of fraudulent activity at this scale ever, ever.”
Once Car2Go was unable to retrieve the cars on their own, they asked the Chicago Police Department for help. By the middle of the week, the company had suspended service in Chicago altogether, tacitly acknowledging that they couldn’t figure out the difference between legitimate customers from theives. A total of 75 cars were compromised and all were eventually recovered, despite the fact that some of them have been destroyed.
Although rare, this incident highlights one of the major risks inherent to shared internet-connected vehicles. As scooter sharing services are also finding out, lending out a bunch of luxury vehicles to almost anybody that wants them is a great way to wind up with them vandalized or stolen.
Ride sharing networks have struggled in general of late, especially with the rise of Uber and Lyft. Car2Go recently merged with BMWs car sharing network, ReachNow, in hopes of strengthening their operations and broadening their appeal. Together, they operate in a total of nine cities. Car2Go had traditionally subjected all of its users to background checks conducted by humans, but quicker sign ups became a “must have” for ride sharing companies that wanted to bring on more new members faster.
“You see Uber or Lyft, or Airbnb, or all the scooters—they all have instant verification,” Kelton said.
The executive team in Europe, where fraud is much less prevalent, was also eager to lower barriers to entry. So in April, the company stopped conducting manual background checks in favor of automated ones – and almost immediately, about 20 people orchestrated the Mercedes theft by setting up 80 phony accounts using fake or stolen credit cards as payment methods. It’s still unclear whether the theft was a direct result of the policy change or not.
And oddly, the thieves didn’t seem to have much more than joyriding in mind. Many of the vehicles still had their Car2Go stickers on them, functional GPS trackers and license plates. Officers patrolling the area had little trouble spotting the vehicles, because nothing had been modified on them. On one day, police arrested almost 2 dozen joyriders. Only one person was charged with a felony: a 19-year-old who was found with a pocket full of fake credit cards.
This type of attack was unprecedented, but there has been an ongoing stream of smaller incidents in years past. Enterprise, for instance, stopped operating its car sharing service in Chicago in 2017 due to high rates of fraud and vandalism. ReachNow had to wrap up service in Brooklyn in 2018 after many vehicles begin disappearing after the company implemented an automated approval process.
Also, for Car2Go, it hasn’t been unusual for people to sublease vehicles after they order them from the service. The practice is in violation of Car2Go’s rules and has been an issue in Chicago since the company started operating there. Car2Go has since reverted back to manually reviewing new accounts in Chicago and says it hasn’t had any serious issues since then.
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Following renovations in 2020, the current Loews Regency San Francisco begins new life as the Four Seasons Hotel San Francisco at Embarcadero. “With a rich cultural landscape...
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The Krem de la Krem of cabins? Inside Aeroflot's business class from London Heathrow to Moscow
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Designers at London Collections Men offer a twist at gender-neutral: lace, ruffles and velvet, constructed in masculine shapes.
Recent years have seen a surge in gender-neutral fashion, from luxury heavyweights such as Prada to cult favorite Hood By Air. But this week at London Collections Men, designers are offering a new twist: lace, ruffles and velvet, constructed in distinctly masculine shapes.
Earlier this spring, at Sydney’s fashion week, Australian designer Jayson Brunsdon showed a collection that focused “on subverting the finer details, taking feminine fabrics and using them in very simple masculine shapes,” according to Executive Style. And Burberry’s spring/summer 2016 collection features classic officewear with a wink—lace button ups and bold prints paired with traditional neutral pieces.
In London this week, knitwear ruffles and bejeweled blazers at the menswear shows “felt tough—not ladylike,” noted T Magazine. Some see in this a revival of the 1970s glam rock era, when performers donned outfits that said “No this isn’t feminine, it’s masculine. Or at least, masculine when I’m doing it,” as fashion historian Valerie Steele put it to the International Business Times. Others see this as fashion’s genderqueer moment, a time when it’s becoming less necessary to create separate styles for men and women.
The use of more luxurious, delicate fabrics in masculine silhouettes is interesting to note, considering that athletic and high-performance fabrics have infiltrated runways in recent years. Is this trend a counterpoint? Perhaps more accurately, both are part of an ongoing reappraisal of what counts as masculine and feminine in fashion.
Image credit: Style.com


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Fastest computing challenge, NVIDIA released its fastest GPU, Tesla T4
Today, the artificial intelligence computing company “NVIDIA” released the latest GPU product – Tesla T4 (T stands for Nvidia’s new Turing architecture).
“NVIDIA” Tesla T4″
The new product introduced this time is mainly used for machine learning and data reasoning, and has revolutionised the widely used P4 graphics processor.
Currently, almost all large cloud providers are able to offer P4 GPUs, and NVIDIA wants to push technology to the next generation. The Tesla T4 is configured with a total of 320 Turing tensor cores and 2,560 CUDA cores.
“NVIDIA” said that Google will be the first company to use T4 GPU, which will be pushed to Google’s cloud platform. The NVIDIA Tesla T4 is significantly faster than the P4.
For example, for language reasoning, T4 is 34 times faster than using a CPU and 3.5 times faster than using a P4.
Most importantly, Tesla T4 is designed by NVIDIA specifically for artificial intelligence reasoning . Ian Buck, vice president of the company and vice president of data center operations, said that Tesla T4 is able to perform artificial intelligence reasoning so efficiently because of its new Turing tensor core.
“NVIDIA” CEO Jen-Hsun Huang talked about tensor core, said it can not only serve the game, rendering, also can be used for computer reasoning.
In addition to this new chip, NVIDIA has introduced a TensorRT software for optimizing deep learning modes. TensorRT Inference Server, a fully integrated data reasoning service that seamlessly plugs into existing Kubernetes facilities.
Tesla T4 computing power
“NVIDIA” is working with Microsoft on the use of “NVIDIA” chips to develop AI features such as voice and face recognition in Microsoft’s Cortana and Bing.
According to foreign media reports, Huawei may compete with Nvidia. Microsoft is discussing cooperation with Huawei and considering using Huawei’s newly developed artificial intelligence chips in Microsoft China Data Center.
D?NN device identification text
Looking beyond, an interesting technological advance is that the future technology that might replace the GPU is also coming. Recently, scientific researchers have developed a technique for deep learning using the speed of light, the Diffraction Depth Neural Network (D?NN). The technology was invented by researchers at the University of California, Los Angeles.
They used 3D printing to create an “all-optical” artificial neural network that can analyse large amounts of data and identify targets at the speed of light with high accuracy and low network construction costs. 50 U.S. dollars. This technology was released in the important scientific journal Science.


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Home Tags MasterCard
UK retail bank Secure Trust Bank has teamed with Mastercard to offer customers more choice and convenience through open banking to repay retail finance.
Mastercard has partnered with bpost to launch the world’s first card to include True Name and Touch Card solution, to bring inclusivity to LGBTQIA+ and blind communities .
Major players in the FinTech sector have come together to join Integrated Finance’s new Fintech Foundation incubator.
Mastercard and Amjan Bank have bolstered their commitment to inclusion through the launch of the Touch Card.
Visa and Mastercard have cited fraud and increased competition to justify post-Brexit fee increases on cross-border payments from the UK, Finextra has revealed.
TomoCredit, a US startup creating a credit card to help first-time borrowers build credit history, has secured $22m from a Series B financing raise.
Spire, a GCC open banking services provider, has partnered with Mastercard to help banks revolutionise consumer engagement and enhance user experiences.


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Yesterday we revealed you the fact that Vauxhall is planning a new vehicle called Viva, which will roll out next summer. What’s more interesting is that its sister model from Opel will not carry the same name, in fact it will be called Karl. That’s right folks, the 2015 Opel Karl was officially hit the dealerships next summer.
If the Viva brought an iconic name back, the Karl pays homage to one of Adam Opel’s sons. Opel Adam turned Opel into the largest bicycle manufacturer while his sons Carl, Wilhelm and Friedrich started the automobile adventure in 1898.
The new Opel Karl will not be a large vehicle as it will have a length of 3.68 meters, while the Adam is 3.70 m long and the Corsa E measures about 4 meters.
Offered in a five-door version, the Karl will be a new entry-level model in Opel’s lineup, offering up to five seats. “Karl is a short, snappy and catchy name that represents Opel brand values: German, emotional and approachable,” said Tina Müller, Chief Marketing Officer at Opel. We will probably see the new vehicle in March, at the 2014 Geneva Motor Show!


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Legal Pot Is Here, But Stash The Wallet For Now
On Election Day, voters in Colorado and Washington state legalized the use of marijuana for recreational use. What's next?
No, really, what happens now?
Residents in the Mile-High State are already looking to buy, says William Breathes, a professional pot critic for the Denver alternative weekly Westword. (By the way, that's a pen name for reasons that may be obvious.)
"I was in a shop the day after the amendment had passed here, and the shop owners were getting calls left and right from people asking if they could just come in and buy marijuana legally," Breathes tells NPR's Jacki Lyden. "People are just expecting to be able to walk into these medical stores right away."
But they can't — at least not until next year. Like Washington, Colorado still needs to set up a regulatory framework to handle what is expected to be a big expansion of its marijuana market, even though the state already has more medical marijuana dispensaries than it has Starbucks.
The growth of that industry has been remarkable to watch, Breathes has written. Three years ago he was hard-pressed to find pot more potent than bud from a dedicated grower with a few basement lamps.
"But now you see some really beautiful product in the stores," he says. "Some really well-grown medicine. And also, prices have come down," from nearly $400 an ounce in 2009 to around $250 today.
When legalization is fully implemented, prices could fall even further.
"There's a big market for it. I think people really want to get out and get to these shops," Breathes says. "It's pretty interesting and really liberating to go into a store and purchase marijuana legally. It's just a matter of seeing who's going to step up and open the first recreational shop."
That's because it could open the door to a clash between the state and federal government, which still classifies pot as an illegal drug.
With lawmakers in Rhode Island and Maine planning to introduce legalization bills next year, Daily Beast reporter Tony Dokoupil says, the question of legalized marijuana across the nation is not whether, but when.
"2014," he says. "Big pot is here."
Rebounding From Reagan
The push toward legalization may seem like a modern movement. But Peter Bourne, who served as President Jimmy Carter's drug czar in the late '70s, says it's been a long time coming.
"The [Carter] administration's position basically was that the penalty for marijuana use did infinitely more damage to people and their lives than the drug did," he says.
So Carter asked Congress to decriminalize possession of small amounts of marijuana and suggested states be free to legalize if they chose. Pro-legalization advocacy groups ran ads on television in support of the president. Legalization seemed inevitable.
Then came the Reagan administration.
President Reagan famously called pot the most dangerous drug in the United States, and by the end of the '80s, Nancy Reagan's "Just Say No" campaign had made the issue of legalization far less popular.
"To me," Bourne says, "[that's] equivalent to telling somebody who's depressed to have a nice day."
Reagan successfully changed the national conversation around marijuana use, Bourne says. But before that happened, big tobacco companies were poised to get in on the act.
"I was in fairly regular discussion with the tobacco people," Bourne says. "They very clearly had contingency plans that they developed to grow and market marijuana should it be legalized."
Big Weed And Room To Grow
Now that legal pot is here, will cigarette companies dust off their old plans for mass commercialization?
Tony Dokoupil, a reporter for Newsweek and The Daily Beast who has written aboutthe changing legal status of marijuana, says they'd like to — if history is any indication.
In the '70s, he says, "there were high-level conversations about adding marijuana to tobacco, creating a line of marijuana cigarettes, and being ready to jump in and market this."
As recently as 1993, when it looked like France was poised to legalize marijuana, Philip Morris trademarked the name "Marley." But when the estate of Bob Marley complained, the company claimed it had nothing to do with the reggae singer.
"Philip Morris said, 'No no, it could be any kind of Marley,' " Dokoupil says, like Jacob Marley, the cheap, cantankerous teetotaler from A Christmas Carol.
Cigarette companies are staying mum on whether customers could see Marley-like products in the U.S. anytime soon. But Dokoupil says the regulatory market such products would enter into — once it was created — could look a lot like the for-profit regulatory model in Colorado now.
"There's a ban on advertising," he explains. "There are cameras that track the marijuana from bloom to end-consumer, so the diversion into the black market is limited. There are extensive background checks on people who are part of the marketplace — so if you want to open a marijuana shop, you have to go through an extensive background check."
Once that model is in place, the consumer side of things might look a lot like Starbucks.
"I think you will have a variety of products at different levels of intensity, exactly like Starbucks," Dokoupil says. "You might be able to walk in there and in the case they'll have 12 different strains of cannabis. Behind the counter there might be hash. There might be edibles, like fizzy drinks or brownies. There could be a hot dog wheel turning. You could put THC in anything."
And, according to Breathes, legal weed could even draw tourism to states that offer it.
"I got a lot of emails from people really excited about this, " he says. "They're looking forward to visiting Colorado now."
Copyright 2021 NPR. To see more, visit https://www.npr.org.


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Spain's fourth Apple Store to open on Friday
¡Apple Store cuarto de España para abrir el viernes!
Yes, the fourth Apple Store in Spain is set to open on November 25 in the city of Marbella on the southern coast. The city is small -- only 125,000 residents call it home -- but it is a major tourist destination, so a lot of visitors are always willing to spend money in the city and especially at the La Cañada mall.
As you've probably noticed on TUAW, there have been many international Apple Store openings during 2011. This won't be the last one for Spain this year -- it's expected that another store will open along the Carrer de Cristóbal Colon in Valencia.
The grand opening is scheduled for 10 AM on Friday, and as usual we'd love to see any pictures of the festivities if you happen to attend.
The fourth Apple Store in Spain is set to open on November 25 in the city of Marbella on the southern coast
Deals of the Daymore deals
Software Updatesmore updates
- Evernote introduces reminders to Mac, iOS apps
- Poser 10 and Poser Pro 2014 available, bringing new characters, physics and more
- Agile Partners releases Lick of the Day 2.0
- Google announces new Hangout app to hit iOS today
- Microsoft Office for Mac 2011 Update 14.3.4
- Pixelmator 2.2 available with over 100 new features and improvements


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Global content platform and production company Netflix has appointed Zimbabwean telecommunications billionaire Strive Masiyiwa to its board of directors, the company said on Thursday.
Netflix co-founder and co-chief executive officer Reed Hastings said Masiyiwa’s entrepreneurship and “vision in building businesses across Africa and beyond will bring valuable insights and experience” to the board as the company works “to improve and serve more members all around the world.”
“We are delighted to welcome Strive to the Netflix board,” Hastings said in a statement.
Masiyiwa is the founder of Econet Group which has operations and investments in 29 countries in Africa and beyond.
These include Zimbabwe’s leading mobile operator Econet Wireless; pan-African broadband company Liquid Telecom, and Africa Data Centres.
Masiyiwa replaces former US ambassador to the United Nations, Susan Rice who stepped down last week to join President-elect Joe Biden’s incoming administration.


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Today there is a major shift in the way people consume foods. Those who want more control of what they put in their bodies are learning the facts about mainstream foods and aren’t happy with what they are discovering.
Even candy nowadays is worse for you than it needs to be. And a new brand has just come out to give people a choice for real food.
And people are jumping on board. Already the new candy company has the support of big names, like Tom Brady, Gisele Bundchen, Matt Damon, John Legend, Jack Dorsey, and more.


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Yesterday, Nintendo announced that it would hold a Nintendo Direct today to discuss upcoming Wii U and 3DS titles. True to its word, the latest Nintendo Direct did just that, and even served up some surprises for the Nintendo fan.
Starting out, Nintendo showed off a new trailer for Super Mario 3D World that featured some of the new powerups that players will encounter in the latest Mario adventure. We already knew about the cat suit, but there’s also a cherry that will split Mario into two copies of himself. The powerups from Super Mario 3D Land, including the boomerang suit and coin box, will be available in this game as well.
Next up was Wii Party U. There wasn’t a lot of new information available beyond it featuring some new mini-games that require players to gather around the gamepad and use four Wiimotes in unison to complete tasks. The game will launch with a Wiimote Plus bundle on October 22.
Another one of Nintendo’s big holiday titles – Donkey Kong Country Tropical Freeze – has been delayed. Nintendo said that the game has been delayed until February 2014 to allow the team at Retro Studios to add more polish.
Moving onto Sonic, Nintendo had two announcements. The first was Mario & Sonic At The Winter Olympic Games will have online multiplayer. That alone isn’t too surprising, but the way it’s being handled certainly is. Keeping in line with the olympic spirit, players from all over the world can compete in four events to contribute points to their country. The game will keep track of which country leads the world in points as players battle to defend their country’s honor.
As for the other Sonic-related announcement, Nintendo confirmed that Sonic will be back in Super Smash Bros. for Wii U and 3DS. Sonic was a fan favorite in Super Smash Bros. Brawl so it’s good to see him back.
In some final Wii U news, Nintendo announced that Pikmin 3 will be getting some Challenge Mode DLC today for $1.99. This will add four new maps to the game. There will be more DLC added down the road as well.
Moving onto 3DS, Nintendo showed off the first English trailer for Square Enix’ Bravely Default. The game is your standard turn-based RPG, but that’s only a good thing. It will also allow players to choose between the English dub or the original Japanese cast.
Nintendo also provided an update on The Legend of Zelda: A Link Between Worlds. Nintendo has decided to change up the formula of Zelda games with this newest title by allowing players to buy almost every item from the start of the game and tackle dungeons in any order. This will be the first time a Zelda game has offered such an option since the original The Legend of Zelda on the NES.
Finally, Nintendo announced a new Kirby game for the Nintendo 3DS. There’s not much to say at the moment beyond it looks like a Kirby game. That’s not a bad thing, mind you. It will be out in 2014.


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Facebook And YouTube Account For Almost 40% Of All Mobile Internet Traffic
At Business Insider’s IGNITION event last week, Business Insider CEO Henry Blodget detailed the future of the digital landscape, pointing out some important trends. For example, more than a quarter of all internet traffic now comes from smartphones and tablets — and two big internet properties are responsible for a huge amount of that traffic.
Read the full text news resource site…
Source News: BusinessInsider


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- PS4 Update 1.62 Rolls Out
March 18 2014 1:34 PM
Sony's PS4 update recently rolled out. The update improves general stability.
- Xbox One Update Coming In April
March 18 2014 11:37 AM
Microsoft will launch an Xbox One update next month, but no date has been confirmed yet.
- Xbox One Coming To 26 More Countries This Fall
March 18 2014 10:56 AM
Microsoft launched the Xbox One on Nov. 22 in 13 countries. Since then, it's sold more than 1 million units.
- Gamers Choosing Sony Over Microsoft
March 17 2014 8:01 PM
A recent poll showed last-gen gamers are choosing Sony's PS4 over Microsoft's Xbox One.
- Rockstar Adds 10 new Verified Jobs To 'GTA Online'
March 17 2014 4:01 PM
Rockstar allows users to create their own content in 'GTA Online' - and the developer has added 10 new verified jobs to the standalone game.
- Japan Names Pikachu As Official National Football Mascot
March 17 2014 2:31 PM
Japan named the electric mouse Pokémon, Pikachu, as the official Japan national football team's mascot for the 2014 FIFA World Cup in Brazil.
- 'BF Vietnam' Celebrates 10 Year Anniversary
March 17 2014 1:46 PM
'Battlefield Vietnam' launched ten years ago. EA DICE celebrates the game's launch via its blog.
- Xbox One Sales Increasing
March 17 2014 1:44 PM
Microsoft's Xbox One may be closer in sales to Sony's PS4 than you think.
- Designer Answers Questions About Upcoming 'BF4' 'Naval Strike'
March 16 2014 8:36 PM
EA DICE asked lead designer Gustav Halling questions about upcoming DLC 'Naval Strike.'
- PS4 Problems And Common Fixes
March 15 2014 8:36 AM
The customer-solutions site shows how to deal with most issues.
- PC Version Of 'GTA 5' Appears On GameStop Site
March 14 2014 6:36 PM
A PC version of "GTA 5" appeared on GameStop's Power Up Rewards Center.
- Classic Sega Game For Free On iOS, Android
March 14 2014 2:19 PM
The entire game is here, including the killer soundtrack featuring The Offspring and Bad Religion.
- Xbox One: Problems And Solutions
March 14 2014 12:42 PM
Info from users leads to effective remedies.
- Is 'Titanfall' Coming To Mac?
March 14 2014 11:56 AM
Respawn founder Vince Zampella confirmed talks with Mac game publisher were in the works.
- 'GTA Online' Bug Allows Users To Mix Genders [VIDEO]
March 14 2014 11:10 AM
The bug repeats an issue that popped up in Japan last year.
- A Free-To-Play Game Worth Your Time
March 13 2014 5:45 PM
“The Mighty Quest For Epic Loot” is a new dungeon-crawler from Ubisoft - and it’s free. Unlike most free games, it’s worth a look.
- New Cars Coming To 'GTA Online?'
March 13 2014 2:46 PM
New vehicles are probably coming to "GTA Online" in Rockstar's next update.
- Xbox One Player Sets World Record
March 13 2014 12:21 PM
User Ray Cox IV has been building up his Xbox Gamerscore for the past eight years.
- What Are Reviewers Saying About 'Titanfall?'
March 13 2014 11:43 AM
"Titanfall" reviews are in, and popular gaming sites are praising the title's gameplay.
- Has 'Titanfall' Helped Sell 1 Million Xbox Ones?
March 12 2014 1:13 PM
First person shooter "Titanfall" launched March 11. An industry insider predicts the game helped sell 1 million Xbox Ones.


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“No Doubt” in ICMSA on ability of factories to pay more for beef
The Chairperson of ICMSA’s Livestock Committee has said that he had “no doubt” that factories should be paying more than they are at present for cattle: “The number of finished cattle will tighten going forward. As of 1 May 2020, the number of male cattle over 12 months of age is 68,000 less than 1 May 2019 and in the case of beef female cattle, 25,000 less. In total, this is 93,000 less cattle over 12 months of age for the rest of this year. Markets have recovered from the Covid shock, demand is stronger, and supplies will be tighter for the rest of this year”, said Des Morrison.
Mr. Morrison said that in our major market, the UK, beef prices are reported to have surged over the last few weeks due to increased retail demand with prices now 40 cent per kg or €150 per head above Irish prices. “That kind of differential cannot simply be explained away by the usual excuses from meat plants. Demand is increasing strongly at retail level and, as the food-services side re-opens and starts ‘going through the gears’, there is strong reason for optimism”, he continued.
“Northern Irish and British prices are significantly ahead of ours and factory agents are paying more for finished cattle at the marts than farmers would be able to get if they went direct to the factories with those same cattle. Factories are willing to pay more at marts for cattle than they are to their direct suppliers and this simply needs to change by bringing beef quotes up to the market level. This current practice makes a laugh of the factories PR speak about building relationships with suppliers and it is no wonder there is such a lack of confidence in the current relationship”, said Mr. Morrison.
“We’ve no doubt that factory prices could go up substantially. The meat plants need to match their PR speak with actions because the evidence supports us, and beef prices should be increased immediately” concluded Mr. Morrison.
Ends 3 July 2020
Des Morrison, 087-2263331
Chairperson, ICMSA Livestock Committee
Cathal MacCarthy, 087-6168758
ICMSA Press Office
+353 (0)61 314677
ICMSA Head Office
John Feely House


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A new four-year project has received a grant of €4 million (US$4.47 million) from the Marie Skłodowska-Curie Actions European Training Network within the European Union (EU) Framework Program for Research and Innovation.
In the project, which Chr Hansen is part of, an international collaboration of scientists from a wide range of universities, research institutions, vineyards and private companies aims to characterize the community of microorganisms that lies at the heart of wine production.
An improved understanding of the wine microbiome (exploring the relation between terroir and grape micro flora) will have significant effects on the wine industry.
“Chr. Hansen is the major industrial partner in this grant and the only one specializing in microbial solutions,” says Dr. Hentie Swiegers from Chr. Hansen’s Wine Innovation department.
“One of the outcomes of this study might be the identification of microorganisms with novel application in the wine industry which can potentially be commercialized in future.”
Dr Swiegers holds a seat on the executive committee of the project, which is led by Professor Lars Hestbjerg Hansen of the Department of Environmental Sciences at Aarhus University, DK.
The company’s role in the project will be to host training sessions for the 15 PhD students from six countries that are studying the vine (grapes) and wine microbiome to characterize it, thereby eventually providing science-based knowledge that can help winemakers control the processes optimally.
In September 2014, the company was presented with the 2014 Frost & Sullivan Global Award for New Product Innovation Leadership in wine ingredients in recognition for its product and technology launches that represent landmarks in enology.


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Barry Callebaut’s Second Generation chocolate gains Sweets & Snacks debut
Attendees to this year’s Sweets and Snacks Expo are being afforded an industry first at the Barry Callebaut booth, as it showcases its much-heralded Second Generation chocolate, reports Neill Barston.
While the sustainably-focused new line was formally launched in Europe last October at a special event in Venice, it is yet to gain global roll-out, with its development teams hailing it as a ‘game changer’ for its sustainability credentials.
Confectionery Production had the chance to taste the new line, which gained its first US debut, and in light of Barry Callebaut not being at this year’s ISM event, this is the first time it has been seen at a major international show.
The company, located at booth #11956, also featured a keynote presentation from Laura Bergan, director of marketing, on consumers Demand for Intense Indulgence through Premium Product Purchases Continues.
There was also a presentation from her colleague Etshoko Yindja, Business Development Manager for Sustainability on “Indulgence and the Evolution of the Sustainability-Conscious Consumers”.
Speaking to Confectionery Production, Laura Bergan (left of pic above) revealed that the demo of its second generation chocolate, which is set to be launched in the near future in the US with several variants including milk and dark options, drew positive responses from show visitors.
She said: “I think this range could be a game changer for sure, as flavour is number one with consumers.
“What Second Generation offers, is that flavour experience, it is really dialled in to what people are desiring in the market. It’s a great tasting chocolate. Then you add on that it’s simple ingredients – two or three depending on whether it’s milk or dark, and then sugar is the last ingredient with it, having around 20% of the sugar levels of other products,” she explained noting that considering it is a higher cacao grade of chocolate, it does not have bitterness typically associated with such ranges. You can see an extended version of the interview in our next magazine.


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Gemini, a regulated cryptocurrency exchange, was founded in 2013 by the Winklevoss Twins. It has now raised $400m through its latest growth equity round. The exchange is considered one of crypto’s most valued, with a value of $7.1billion. Morgan Creek led the financial round. Other key figures from the venture capital industry were also present. Gemini has made significant investments in other metaverse ideas.
Gemini’s Value Hits $7.1 Billon
Gemini is a cryptocurrency exchange that was created by two Facebook dissidents the Winklevoss Twins. It has now raised $400 Million in its most recent growth equity financing round. The round was led by Morgan Creek, which put up $75 million, with Sachin Jaitly (a general partner at Morgan Creek) becoming the third member of Gemini’s board of directors, apart from Cameron and Tyler Winklevoss. ParaFi and Marcy Venture Partners also played a significant role in this round.
Gemini’s giant round has placed it in a favorable position, attaining a valuation at $7.1billion and making itself one of America’s most prominent U.S-based exchanges. This is most likely due to the often-criticized, regulated approach Gemini took in its cryptocurrency trading business. Sachin Jaitly commented on this topic.
Their vision for the role of crypto in redesigning money, the financial system, art, and the Internet, and their track record of incubating and scaling innovative technologies, gives us confidence in Gemini’s ability to continue to be an industry leader.
Gemini’s Alternative Proposal
One of the objectives that Gemini’s founders have is to propose an alternative metaverse, different from what other companies are doing now. Cameron Winklevoss spoke to Forbes about the various paths companies are taking in order to create the metaverse. He stressed:
There’s a centralized path… that is one step away from being a metaverse, and that’s totally fine. But there is another path, which is the decentralized metaverse and that’s the metaverse where we believe there’s a greater choice, independence, and opportunity, and there is technology that protects the rights and dignity of individuals.
Gemini has already invested in these initiatives through the Gemini Frontier Fund, including projects like Animoca Brands’ The Sandbox.
It seems that the company is now in direct conflict with Mark Zuckerberg, Meta (formerly Facebook), and Meta (formerly Facebook). Meta has a different perspective on the metaverse and the execution thereof. There are other exchanges that may be interested in the metaverse investing scene. Kucoin is an Asian exchange that recently created a fund of $100 million to help incubate metaverse startups.
Let us know your thoughts on the Gemini funding round of $400 million. Comment below.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.


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A refreshing new concept is on the way to making one local restauranteur very happy, as JW Marriott rolls out their CANVAS Food and Lab concept internationally, starting with the Irvine Marriott and the Shenzen (China) Marriott. Locally, Marriott held a meet and greet last week to present two of the candidates, owners of the popular food truck Chomp Chomp Nation Robert Zuetell and Gina Galvan, along with Walter El Nagar, owner of the pop-up restaurant Barbershop Ristorante.
The concept is simple; Marriott is interviewing would-be restauranteurs for the locations. Over 30 applicants alone are on the books for the Irvine location, whose finalists will be announced this week. After going through the selection process and a cooking audition, the winning team will be provided with $50,000 of investment money and a location on the ground floor of the Irvine Marriott. There, they will be mentored by Marriott’s food and beverage experts and create the restaurant of their dreams. Meanwhile, Marriott’s designers will design the space to fit the selected restaurant’s concept. After that, they will open it to the public. In six months, the concept will be evaluated by experts for popularity and return on investment. Ultimately, Marriott hopes to roll out the CANVAS concept throughout the entire chain.
Gina Galvan, of the Chomp Chomp Nation, said “I’m just honored to be considered in this amazing incubator for Marriott. Marriott, to me, is a world-class brand that really means excellence. I think it was a surprise to me to find out that the roots of Marriott started with very simple things, good hospitality and good customer service and knowing what that can do. And knowing that in a very short amount of time, the Marriott has become what it is today, which is the leader in food and beverage hospitality. They are considered the top; the elite. So I am honored to be here and I know that along every step of the way they will be patient and it will be a great way to grow our brand organically. With Marriott, this will be a wonderful opportunity”.
Chomp Chomp Nation is looking towards a variation of their truck’s cuisine, combining elements of Singaporean, Filipino and other Southeast Asian cuisines to come up with dishes that will titillate the taste buds. Meanwhile, Walter El Nagar is looking forward to bringing fresh Italian items to his concept. Items that are unknown in the U.S. But traditional in Walter’s featured Milanese cooking, such as a sea urchin sauce, a specialty of coastal Italy. Walter plans to use fresh ingredients and local specialties to create delicious yet affordable Italian cuisine.
Marriott’s concept is more than just helping start some new restaurants. Their idea is to start from the bottom up, creating locally relevant, distinctive food and beverage experiences. They hope that the CANVAS model will deliver concepts much more quickly than the current hotel industry model. “We believe the key ingredient of CANVAS is to marry the best ideas of local entrepreneurs with Marriott’s resources, space and capital that will transform ambition into action right inside our hotels,” said Wolfgang Lindlbauer, global leader, Food & Beverage. “Just like travel, food and drink experiences today are about indulgence and discovery for modern travelers and local clientele alike, to savor, enjoy and share.”
Marriott also used the event as an opportunity to show that while embracing the new, they have not forgotten the old traditions that they started with. They featured an excellent Manhattan, made the traditional way, with their expert bartender demonstrating the skills needed as he mixed the Manhattan and also a delicious Old Fashioned.
Another idea Marriott has incorporated into this concept is using mass media to document it. Documentary-style webisodes will follow the winner’s journey, from selection to dream to the challenges of creating their restaurant to the joy of opening night and their interaction with their first guests. This will also appeal to a new generation of customers that Marriott wants to appeal to, those who believe in local cuisine and culture and consider it a pivotal role in both their business and social traveling.
Ultimately, this will be a win-win for everyone. Marriott will bet some great new restaurant concepts that can ultimately be used at other locations, some up and coming restauranteurs will get the chance of a lifetime to make their dream a reality and both local residents and visiting guests will get a chance to try some truly unique new restaurants. And who doesn’t like that?


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December 25, The Iran Project – Following the launch of 3G and 4G services in Iran and the nationwide access to them, the Islamic Republic of Iran is now among the top 10 countries in Asia and Pacific in the field of e-commerce.
According to the statistics, by 2013, Iran ranked 69 among 70 countries in the digital economy so it can be concluded that no serious action was taken for e-commerce-based businesses.
But in recent years, following the launch of 3G and 4G services, Iranian citizens have significantly accessed to the Internet so more users have been using the net for e-commerce transactions.
Thus, according to B2C E-Commerce Index 2016 calculated by UNCTAD (United Nations Conference on Trade and Development), Iran is ranked 77 among the top 10 countries in Asia and Pacific.
Based on the global statistics and considering the volume of e-commerce, in early 2013 and before the launch of 3G and 4G services, Iran ranked 100th in the field of e-commerce.
According to the statistics released by the “Invest” Institute, in 2013, volume of the world e-commerce was more than $680 billion of which Iran’s share was less than 15%.
Now, considering Iran’s rank among the top 10 countries in Asia and Pacific, it seems that e-commerce transactions have substantially increased.


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Intel posted quarterly earnings Tuesday that edged past expectations, while revenue was slightly below estimates. Shares rose in extended-hours trading.
The company posted earnings of 38 cents a share, on sales of $12.76 billion. Analysts had expected the company to report earnings of 37 cents a share on $12.81 billion in revenue, according to a consensus estimate from Thomson Reuters.
"In the first quarter we saw solid growth in the data center, signs of improvement in the PC business, and we shipped five million tablet processors, making strong progress on our goal of 40 million tablets for 2014," said Intel CEO Brian Krzanich in a press release.
Intel forecast revenue of $13 billion, plus or minus $500 million, for the second quarter, which ends in June. Analysts had expected $12.957 billion on average.
The company also expects a full-year gross margin of 61 percent, plus or minus a few percentage points. That is 1 percentage point higher than Intel's previous forecast.
Worse-than-expected declines in personal computer sales have recently dealt a blow to Intel's bottom line, as supplying chips to the PC market is one of its main businesses. The company announced in January it will lay off 5 percent of its global workforce, more than 100,000 jobs, in 2014.
Intel aims to offset the PC slowdown by placing its chips in tablets and other increasingly popular devices, and has been courting Chinese tablet makers aggressively, according to The Financial Times. At $5 to $10 a piece, Chinese chips are much cheaper than Intel's, which typically cost between $30 and $50, the article noted. But Intel CEO Brian Krzanich is wants to equip 40 million of the 300 million tablets made this year with his company's chips.
--Reuters contributed to this article.


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BioShock creator talks up ambitious new game
Ken Levine, the man credited with the creation of the wonderful BioShock, has been talking up his new non-BioShock related project while taking to Gamasutra. According to the game designer, this secret new project "is more ambitious than anything we've ever done."
"I think that when we think about a project now... When we thought about this project, we accounted for the fact that hiring the staff that we needed to hire would take some time," he explained, admitting that this project will take some time to emerge.
"And when we thought about the shipping date of the project... We needed a certain kind of length for the title, because we had a scope and ambition in mind which is more ambitious than anything we've ever done."
Levine assures that this new opus is far more ambitious than BioShock, but neither the designer nor publisher Take-Two will be drawn to confirm any specifics. We're keen to learn more, needless to say.
- Microsoft doubles down for April's Games With Gold
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- Dirty Bomb beta is back online
- Obsidian's saviour Pillars Of Eternity launches today, Watch it streamed live here later today
- Infinite Crisis launches fully today on Steam
- Here's what the new Hunters and the Behemoth for Evolve look like in action
- Blood and Burning and Celts Culture DLC Packs arrive for Total War: Attila
- F1 2015 coming to PC, PS4 and Xbox One this summer, first screenshots released
- Ubisoft introduces Alex Parizeau, the new head of Ubisoft Toronto


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From small business owners and hotel staff to retail clerks and restaurant workers, tourism means local jobs - 17,280 local jobs to be exact. As we celebrated National Tourism Week May 6-12, Visit Omaha began a new campaign focused on highlighting and celebrating Omaha’s 8th largest private sector employer – tourism.
“Visitor spending supports 1 in 17 jobs in Omaha, so chances are you know someone who works in the tourism industry,” said Keith Backsen, Executive Director of Visit Omaha. “The new campaign highlights the importance the travel industry has on local families who live and work here.”
Visit Omaha also helped celebrate frontline tourism employees and volunteers this week at the Omaha Metro Area (OMA) Tourism Awards. The OMA Tourism Awards are a tri-county partnership between Visit Omaha, Sarpy County Tourism and the Council Bluffs Convention & Visitors Bureau. The award ceremony was held May 9th at the Beardmore Event Center of Bellevue. A total of 68 employees and volunteers from local attractions, hotels, restaurants, and retail shops were nominated, eight received top honors alongside College World Series, Inc. President Jack Diesing Jr, OMA’s Tourism Hero of the Year.
“Jack’s enormous impact on the area’s tourism economy over the last 30-plus years has been felt by all three of our counties,” said Keith Backsen, executive director for Visit Omaha. “The College World Series has an estimated $70 million economic impact on the metro area, and because of Jack’s dedication our communities will reap those rewards for years to come.”
Visit Omaha, also known as the Omaha Convention & Visitors Bureau, is the official tourism authority for the City of Omaha.


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Supervalu to close 22 Save-A-Lot stores
None of the Save-A-Lots that will close are located in the St. Louis metro area. The only closure in Missouri is in Raytown, according to Supervalu spokesman Mike Siemienas.
Supervalu said the closings will generate $80 million to $90 million in cash over the next three years, including $35 million in cash within 12 months, from monetizing owned real estate, eliminating cash operating losses, and selling assets. The company owns the real estate for approximately one-third of the retail food stores being closed.
The closures will also include 27 Albertsons stores (all in the western United States), four Acme stores, and one store Jewel-Osco store. It did not release the locations of the eight other stores it plans to close due to contractual discussions.
Most of the stores are expected to close by Dec. 1, the end of the company’s fiscal 2013 third quarter.
The closures also will result in a pre-tax charge in fiscal 2013 of $80 million to $90 million. All of that is non-cash, except for $3 million in estimated severance costs.
Eden Prairie, Minn.-based Supervalu Inc. (NYSE: SVU), which also owns St. Louis-based Shop ‘n Save and several other grocery chains, reported a fiscal 2011 loss of $1.04 billion on net sales of $36.1 billion. It serves about 4,300 stores across the U.S. and has about 130,000 employees nationwide. Supervalu said in July it is considering selling all or part of the company.
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