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PUBLIC relations agencies are being increasing given responsibility for handling the digital profile of their clients, including blogging on their behalf and designing and building websites.
This is the conclusion of a survey conducted by the Public Relations Consultants Association (PRCA).
This latest piece of work is the PRCA’s third digital report, and its headlines read:
* In-house budgeting for blogger outreach continues to grow and PR agencies increasingly entrusted with this work;
* Web design and build is a huge growth area for PR agencies as service is increasingly combined with PR;
* Huge expectation that digital budgets will grow over the next 12 months; and
* In-house and agency staff alike do not feel they get enough training around digital.
Attitudes and responsibilities
When asked why their brands are on social media, in-house leaders surveyed are now far less likely than ever to point to negative reasons such as being attacked on social media (six per cent) and responding to disgruntled employees (four per cent); while the biggest reasons are for general marketing purposes (94 per cent), speeding awareness of what they do (67 per cent), and as a customer service platform (56 per cent).
Now, more than ever, in-house teams surveyed see themselves as the owners of digital/social media strategy and execution, with agencies providing supporting roles.
This raises some important questions about the role of the PR agency in digital, going forward.
The mean percentage of marketing budgets spent on digital/ social media remains at 16 per cent, the same as last year. Despite this, most (64 per cent) expect their digital budget to grow in the next 12 months. Around nine per cent on average of any additional marketing investment is spent on social/digital, roughly equitable with last year, which was 11 per cent.
The report reveals that in-house investment in influencer (e.g. blogger) outreach/engagement has seen growth of 11 per cent over the past two years – from 41 per cent in 2013, to 50 per cent in 2014, and to 52 per cent in 2015.
Meanwhile, investment in Search Engine Optimisation (SEO0 has dropped year-on-year from 67 per cent in 2013, to 53 per cent in 2015. Over the last two years, there has also been a significant and sustained reduction in marketing budget being spent on web design and build which is down by 24 per cent (79 per cent in 2013 and 55 per cent in 2015). Both offerings appear to have become less of a standalone requirement.
Agencies and how they’re being used
In the past year in particular, we have seen huge growth in in-house PR departments expecting PR agencies to be able to deliver many digital service areas, with the biggest growth in expectation around SEO (20 per cent growth); blogger outreach (18 per cent growth); online advertising/PPC (14 per cent growth); and online reputation management (14 per cent).
On the PR agency side, 54 per cent are now offering SEO services, 82 per cent offer blogger outreach/engagement; 47 per cent offer online ads/PPC; and 76 per cent offer online reputation management.
The biggest digital service offering for agencies remains to be content creation, which 91 per cent of agencies provide. The biggest growth as a service offering is web design and build – up 12 per cent since last year to 71 per cent. Indeed, in-house staff are reporting eight per cent growth over the past two years in use of PR agencies for web design and build services – from five per cent to 13 per cent.
Combined with the news above that there has been a drop in in-house investment in web design and build (from 64 per cent in 2014 to 55 per cent in 2015) it may be inferred that this service is now far more likely to be bought in combination with PR services, and also tends to be less costly than in previous years.
There has been some small growth in digital services as a percentage of PR agency revenue over the past year: 22.1 per cent to 22.9 per cent.
Over the last year, in-house teams surveyed have seen the biggest growth in use of LinkedIn (14 per cent growth) and blogs (nine per cent growth). 77 per cent expect to use LinkedIn in the coming year, while 73 per cent expect to use Instagram.
Unsurprisingly, Twitter and Facebook remain on top, with 96 per cent and 90 per cent of in-house teams having used those platforms over the past year. The biggest in-house platform losers are Pinterest and Google+, with a drop of seven per cent and six per cent in usage respectively over the past year.
For agencies, the leading campaign platforms over the past year are Twitter (98 per cent); LinkedIn (89 per cent) and blogs (86 per cent), while it is interesting to note that Facebook use is somewhat lower at 77 per cent.
Agencies expect LinkedIn to be the leading platform in the coming year, with 93 per cent of them expecting to use it for the company’s digital PR activity.
We have seen huge growth in the use of standalone in-house social media teams overseeing platform management, with particular growth in them taking over LinkedIn which may be from the PR/communications department (17 per cent growth over two years).
The majority (52 per cent) of content production remains in the hands of in-house comms teams in organisations that use social media, but 24 per cent of this now sits with the social media team.
In-house comms staffers surveyed remain marginally more confident that they can measure the ROI of traditional PR activities (72 per cent) than they are for digital/social (67 per cent); with the greatest degree of confidence in digital PR is around measuring ROI around Facebook campaigns (67 per cent), and the least around LinkedIn (36 per cent).
When asked to rate their top three, the majority of in-house comms people gain most of their social media education and insight from expert blogs (52 per cent), although there is 12 per cent growth in use of expert white papers since last year (From 17 per cent to 29 per cent).
When asked which three things they need more education in, the biggest percentage of in-house comms people need more education/insight around blogger outreach (36 per cent), while need for professional development around online advertising and PPC has grown by the most (seven per cent) to (20 per cent versus 13 per cent).
For agency people, when asked about their three top sources for social media education, expert blogs are also the most popular, at 76 per cent.
There has been a drop in event-based training: conferences and events have dropped by six per cent to 41 per cent; and seminars and roundtables have dropped in rating by 16 per cent to 27 per cent.
Half of agency people require more education/insight around SEO (50 per cent).
For 35 per cent of agency staff, training in digital/social remains to be a small amount of their overall training, only around 25 per cent.
Source: PRCA Third Digital Report, published September 15 2015.


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NEW YORK — Higher gas prices and muted consumer confidence held Jones Apparel Group to a 2 percent rise in third-quarter profits.
Net income for the three months ended Oct. 2 came in at $95.8 million, or 77 cents a diluted share. This compared with $93.9 million, or 71 cents, a year ago. Sales for the period picked up 9.8 percent to $1.3 billion from $1.18 billion a year earlier.
Business has improved since the quarter ended, the firm said, when weather became more seasonal and stores in the Southeast were unencumbered by hurricanes.
“Foot traffic is clearly up in our retail stores,” president and chief executive officer Peter Boneparth said on a conference call, noting wholesale accounts have had a similar uptick in traffic “over an absolutely dismal September.”
Jones softened the ground for the tepid increase with a profit warning earlier this month. Accordingly, the stock traded up $1.10, or 3.2 percent, on Wednesday to $35.60 on the New York Stock Exchange.
Jones wasn’t alone in overestimating the season. Kellwood Co. last week said its profits in the third quarter ended Oct. 30 would come in 7.8 percent below a year ago at $28.5 million, or $1 a diluted share. Previously, Kellwood had called for earnings of $32.5 million, or $1.15 a share.
Like Jones, Kellwood blamed at least part of the shortfall on a consumer who was constrained by high gas prices and poor weather. Kellwood also said it had missed the mark somewhat in some of its fashion offerings and would not get some of its brands completely back on track until fall 2005.
The grumblings by the vendors about the consumer were borne out in The Conference Board’s Consumer Confidence Index, which fell this month to 92.8 from 96.7 in September. The forward-looking Expectations Index slid 5.9 points to 92.
Liz Claiborne Inc., which reports on its third-quarter results today, has not adjusted projections.
Jones’ revenues in its wholesale better-priced area increased 6 percent for the quarter, with the Jones New York Signature brand adding $58 million, and Kasper and Anne Klein together adding $104 million. Signature was launched in spring and Kasper A.S.L., which included the Anne Klein name, was acquired in December.
“The wholesale better apparel business remains a very exciting and important category for the department store, and therefore is exciting and important for us,” Boneparth said. “It continues to be the bedrock of this organization.”
Jones helped spark a rush to the better arena last year when it returned control of the Lauren by Ralph Lauren brand back to Polo Ralph Lauren Corp. and launched Signature.
“There have been a lot of new entrants that have generated a lot of enthusiasm for the consumer, but I would say that results from that competition were at best mixed,” Boneparth said.
Names new to the department store realm, such as H Hilfiger from Tommy Hilfiger and Realities by Claiborne, had some trouble getting on their feet. Signature, on the other hand, has been identified by buyers as one of the better floor’s stronger performers.
For 2005, Jones is looking for a 1 to 3 percent sales rise from its better business.
The wholesale moderate business has also grown with the relaunch in Sears of A|Line, an Anne Klein subbrand, and the expansion of Bandolino into casual sportswear, denim and dresses for spring 2005. Jones, along with others in the industry, has adjusted its stance toward the business to avoid too much sameness at retail.
“We have strived to change the model, to move toward differentiated product, to give retailers value, give them something they actually can call their own, that they don’t have to promote day in, day out against their competition,” Boneparth said. “The early returns on that are very, very good. Our sell-throughs on the new brands are terrific.”
For the nine months, Jones’ profits slid 6.7 percent to $267.7 million, or $2.11 a diluted share, from $286.8 million, or $2.15 a year ago. Sales advanced 5.1 percent to $3.57 billion from $3.4 billion.

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Remember when SaaS CRM companies needed to build their own multi-tenant architectures to bring their CRM to market? And how they needed to maintain expensive and unwieldy architectures that took focus away from actual product development? And how the cost and complexity of said proprietary architectures was passed along to the customer to maintain revenue goals?
Oh wait. That’s still going on with companies like Salesforce.
But, even Salesforce has finally admitted that CRM vendors should not also be cloud infrastructure providers anymore. The company’s recent partnership announcement with Amazon tells us all we need to know. Salesforce needs to focus on innovation, since its core product is old and the cost of maintaining the underlying delivery and development infrastructure itself is proving costly.
So, why is Salesforce potentially repeating past mistakes by trying to create a proprietary AI product for CRM?
Let me explain. What I see brewing with Salesforce’s Einstein concept is a hodge-podge of Wave analytics, generic machine learning (pieced together by several small pocket acquisitions), SalesforceIQ, and elements of Data.com – all components of Salesforce’s portfolio. In short, Salesforce is building yet another proprietary stack in AI.
By “owning” the entire stack, one could argue the profits (as noted, something perennially eluding Salesforce) can be much higher. But at what cost? By instead focusing on integrating industry standards and expert-AI platforms into its tools – a CRM provider can have more flexibility and be able to keep up with the rapid pace of change.
Today, companies like IBM with Watson, and Amazon with its AI platforms are opening these up to software manufacturers as a service. These companies have both the deep pockets and expertise to offer broad and even focused AI-tools for CRM usage scenarios – without CRM vendors having to do much if any heavy lifting.
Here at SugarCRM, we are taking a “best of breed” approach for a number of reasons. One, it will speed our time to market to leverage pre-built, highly scalable and proven AI toolsets and platforms. And, of course, the cost to bring AI-powered CRM offerings to our prospects and customers will be lower, which we can pass on to the user and remain a value-driver for our partners and customers.
And again, by leveraging larger platforms and standards, we will be more nimble than those building hulking masses of analytics engines, giant data warehouses, etc. We will be able to quickly hone our offerings to adhere to market demands, without having to re-architect massive purpose-driven AI stacks.
In short, it is becoming clear to me that AI is an arms race – and categories like CRM should not be trying to reinvent the wheel. Just as with cloud delivery – when you integrate and build upon expert, proven strategies – you can cut costs, speed time to market, and focus on building exceptional customer experiences.


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Specsavers has acquired Tva Bla, a Swedish company that operates 19 optical franchises with sales of around 125 million SEK (€13.6 m-$16.9m) in 2003, in a move to strengthen its position in the Scandinavian country. It follows the previously reported takeover last April of the Blic optical chain, which has ...
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The ENECTOR wallbox has been awarded this year's “Special Mention” GERMAN DESIGN AWARD for its innovative and dynamic design. It is the first AC wall-mounted charging station that KOSTAL has developed in-house and it recently celebrated its world première at INTERSOLAR 2021.
The ENECTOR wallbox has received a key award for its successful combination of design and engineering even before delivery has commenced (end of Q1 2022). The jury for the GERMAN DESIGN AWARD praised, in particular, the functional yet strong design of the KOSTAL wallbox with its clear lines.
With the ENECTOR wallbox, the KOSTAL Group is consistently pursuing its path of offering solutions for the charging infrastructure of electric vehicles from a single source. Based on its experience in the development and production of inverters for solar systems and Onboard Chargers, KOSTAL Solar Electric is now closing the gap to offer high-quality charging solutions for end customers at home with the Wallbox ENECTOR.
The ENECTOR wallbox from KOSTAL can charge compatible fully electric vehicles and hybrid models quickly and safely from all available power sources. The wallbox offers a single-phase charging power of up to 3.7 kW and a three-phase charging power of up to 11 kW, which is complementary to the Onboard Chargers manufactured by KOSTAL Automobil Elektrik.
We congratulate KOSTAL Solar Electric and look forward to the market launch.


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Singapore start-up 99.co buys Indonesian property portal UrbanIndo
Singapore’s property search start-up 99.co has acquired Indonesia’s UrbanIndo – said to be the largest property portal in Indonesia, with more than 1.2m active listings – for an undisclosed amount. With the acquisition, 99.co is believed to be among the largest property listing portals in Singapore and Indonesia. Property consumers in both countries can now access 99.co for all property-related transactions. 99.co said that acquiring UrbanIndo will be a key cornerstone to its continual growth to become the No. 1 property technology company in Indonesia. Darius Cheung, co-founder and chief executive officer of 99.co, said: “The UrbanIndo team has built up critical leadership in product, listings and consumer demand that will put us on a 10 times growth trajectory in Indonesia.” Petra Barus, chief technology officer of UrbanIndo, added that both teams will deliver “exciting new products” to serve buyers, agents and developers.


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Loyola University Chicago School of Law, JD 2024
Black box warnings are assigned to prescription drugs by the U.S. Food and Drug Administration (FDA) to alert of serious sides effects, such as injury or death. The smoking cessation drug, Chantix, previously had one of these black box warnings attached to it, but that warning has since been removed. This transition from a “dangerous drug” to a non-dangerous drug raises various important regulatory concerns regarding the marketing of this drug and other popular prescription drugs as well as the role of the FDA in regulating “dangerous” drugs.
The FDA assigns box warnings, or “black box warnings” to prescription drugs where there is 1) an adverse reaction so serious in proportion to the potential benefit of the drug, or 2) a serious adverse reaction that can be prevented or reduced in frequency or severity by appropriate use of the drug, or 3) an FDA approved drug that has restrictions to ensure safe use.
Chantix is a prescription drug manufactured by Pfizer for use “as an aid to smoking cessation treatment.” In 2009, Chantix received its black box warning from the FDA after fears rose from reports that linked the drug to “psychiatric issues including suicidal thoughts, suicidal behavior, hostility, and agitation.” Since 2009, this label was removed from the drug after the FDA announced that these risks associated with Chantix are “lower than previously suspected” following a large clinical trial. Along with this removal of the label, the FDA issued a recall on all Chantix tablets, calling for wholesalers and distributors of the existing tablets to “stop use and distribution and quarantine the product(s) immediately.”
Changes in Marketing
Now that the label has been removed, this changes how the drug will be marketed, which is important for the brand and regulatory standards as national TV advertising makes up about 85% of Chantix’s annual total advertising spending. A 2021 study that examined the aftermath of the removal of this label, looked at the two major forms of pharmaceutical marketing permitted: 1) physician detailing, or advertising/promoting directly to physicians, and 2) direct-to-consumer advertising. This article concluded that following the positive change in status by the FDA, Chantix has seen lasting increased in advertising revenue, with the physician detailing advertising experiencing a 24-25% revenue increase from before the removal and the direct-to-consumer advertising increasing by 71%.
The FDA sets out requirements for prescription drug advertising for direct-to-consumer advertising. Notably, the FDA does not prevent drug companies for advertising any kind of prescription drugs, “even ones that can cause severe injury, addiction, or withdrawal effects.” Before its black-box warning was even removed Chantix was within the top 30 most detailed drugs, evidencing how pervasive its presence in the pharmaceutical world was and is. From a regulatory perspective, this raises concerns about how effective this labeling scheme really is, especially when it comes to health coverage.
Aftermath and Consumer Protection
A similar trend has been seen among popular SSRIs and sleep drugs that are widely prescribed yet still hold these black box warnings, such as Lexapro, Prozac, Praxil, and Ambien. This is important as is shows that these drugs are still popularly used and prescribed heavily, yet there are still strong, known risks associated with them.
For example, Lexapro is noted as carrying the “FDA’s highest safety-related warning around the risk of suicidal ideation,” and is to be closely monitored by a professional. Ambien received this warning after sixty-six cases were reported to the FDA Adverse Event Reporting System claiming that consumers of the medication engaged in dangerous activities while they were not fully awake. Of those sixty-six cases, forty-six reports “detailed non-fatal serious injuries, including accidental overdoses, falls, burns, near-drownings, exposure to extreme cold temperatures leading to loss of limb or near death, self-injuries such as gunshot wounds, and apparent suicide attempts.”
Following this 2016 removal of the black-box warnings, Chantix has continued to face pushback, proving that the change in classification from “dangerous” to “non-dangerous” was virtually meaningless. In 2021, consumers attempted to bring a class action, accusing Pfizer of failing to disclose the presence of cancer-causing agents in Chantix. In another action brought in September of this year, Baptiste v. Pfizer, Inc., a woman claimed that Pfizer sold adulterated, misbranded and unapproved varenicline-containing drugs under the brand name Chantix.
The continued existence of these warnings on prescription drugs that are universally known and prescribed combined with the repeated issues surrounding Chantix, suggest that the FDA may need to implement stricter standards for marketing drugs and upholding consumer protections after this kind of removal, especially for such a widely used prescription drug such as Chantix.


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The Don C-designed Jordan Legacy 312, initially introduced in the timeless “Bred Cement” iteration back in 2019, is now being refreshed with the all-new “Royal Toe” treatment.
This latest iteration of the homage to Chicago sports a “Royal Blue” hue on select panels, creating a striking contrast against the predominantly “Jet-Black” upper. Subtle accents of grey adorn the perforated collars, adding depth to the design. Notably, the pair retains the distinctive cracked-heel elephant print that has earned the admiration of fans.
The iconic branding is consistent with the theme, with the tongue and both inner and outer Nike Swoosh logos featuring the same “Royal Blue” shade. Complementing this, white Air Jordan logos are showcased at the heel, harmonizing with the pristine white outsoles.
As of now, specific release details have not been disclosed. However, enthusiasts can stay tuned to official Jordan Brand platforms for forthcoming information, expected to be announced soon.


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Verizon CFO Fran Shammo put to rest any speculation that the carrier is planning to launch unlimited data plans anytime soon. But the nation's largest mobile operator appears to have unlimited plans for mobile video advertising.
U.S. carriers continue to experiment with "unlimited" data plans in an effort to grow their subscriber bases and maximize revenues in an increasingly competitive market (though, to be clear, most such plans allow around 20 GB of high-speed access before throttling users' speeds in some situations). Sprint and T-Mobile have long offered unlimited services, though both raised the cost of those plans in recent months. And AT&T earlier this year resurrected an unlimited offering but only for users who are also customers of its DirecTV service.
But Shammo said Verizon has no intention of competing in the unlimited arena. Instead, he said, the carrier plans to generate ad revenues through its Go90 offering.
"I've been pretty public saying the unlimited model does not work in an LTE environment," he told attendees at an investor conference today. "Unlimited is a very short-term game in the LTE market. Eventually unlimited is going to go away because you have to generate cash to reinvest."
So the operator plans to drive traffic to Go90, the OTT video offering it launched last year. Verizon recently began offering sponsored video through the service, allowing its subscribers to view content without incurring data charges, and it recently announced a joint venture with Hearst to create made-for-mobile content.
"The whole theory behind this, which we believe will win at the end, is to give all this content to the wireless customer for free, and we'll monetize it in a different way than having them pay for the consumption," Shammo explained. "But we also know that the consumer is going to have only so much wallet share for quote 'communications,' which wireless, broadband and cable fall into…. So we know that there's a limit. So we have to be able to have them consume more, but monetize that consumption in other forms. And that's how we got to the Go90 model, and that will be monetized through the advertiser and that will of course increase revenue and that will contribute to the bottom line."
Shammo also said Verizon is considering asset-backed receivable financing to get more cash upfront when customers finance their devices. The operator has $110 billion in debt and a dividend obligation, according to Bloomberg, and is expected to be an active bidder in the FCC's upcoming incentive auction of 600 MHz spectrum.
Shammo: Verizon's zero-rated video to launch on Go90 this week
Verizon's 5G tests hit 10-Gig speeds, commercial deployment in 2017 possible
Verizon expands into sponsored content with FreeBee Data
FCC's Wheeler beckons AT&T, T-Mobile on mobile data policies


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Toshiba has been leading innovation on electronic products since time in memorial. I have been witness to that since it's our TV for the past year. More products seem to be released and I got hold of this information a few days ago.
The sets you see behind Director Paul Soriano and top Tech Blogger Abe Olandres is the new CEVO 4K. It got the second generation 4K video processing engine which is made and designed by Toshiba. They have spent years of research and development in bringing you the best “True image” you can possibly have at home. “True image” means the closest image possible that you can have compared to real life. Making it life like is truly an experience that their company promises for every Filipino home... and now, they delivered.
This is now "The Best in its Class" and you can evidently see it on Blu-ray, HD TV and 4K video output on these TV's. Mr. Yuuji Motomura who spearheads product planning for Toshiba’s TV division says “Televisions are being made to create a wow feeling, the bigger the screen, the more excitement. It is not enough that the TV screen is big; it also has to be equipped with the technology that maintains the high picture quality to enhance the viewing experience.”
The company promises that in every TV set of this standard and engine, they will have 90% of the original content, which provides a great sense of reality while watching. I would definitely want this for my own living room. Ours lasted for years too so I'm gearing to have something worthy to replace it. Another Toshiba with this technology would definitely work.
For more information about Toshiba and their new release
Please visit their website


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Rochester company partners with Vaseline on ‘See My Skin’ website
ROCHESTER, N.Y. (WHEC) — Vaseline has developed a new website for people of color using technology developed right here in Rochester that allows you to search skin conditions and connect with dermatologists more experienced in treating black and brown skin.
If you develop a skin rash, you might go straight to the internet to see if you can figure out what it might be.
“In internet searches, only 6% of the images of rashes on the skin is in dark skin, 94% is in white skin so if you’re a patient of color, you’re not going to find what you need,” explained Dr. Art Papier, the CEO of VisualDx.
VisualDx, based in Rochester, has developed one of the largest collections of medical images in the world.
“It’s both light-skinned, Asian skin, dark skin, African American skin… images come in from around the world,” explained Dr. Papier.
Typically, hospitals and doctor’s offices license the technology to use as a reference in the exam room but, “we created software now that allows our technology to be embedded in other websites or other applications so, Vaseline has taken our technology and used it to create this new website,” Dr. Papier said.
SeeMySkin.com launched this week and in addition to its partnership with VisualDx to show skin conditions on black and brown skin, Vaseline is also connecting users to culturally competent dermatologists.
Dr. Nana Duffy is a dermatologist in Rochester that is part of that network.
“I feel grateful that I was trained to recognize different conditions and little nuances about skin of color but not everyone has that luxury,” she told News10NBC.
Dr. Duffy said this is really full circle too because she often pulls up the VisualDx database when talking with her patients.
“When you can show them not just one but five, 10, 15, 25 images of a skin condition on skin of color, then the anxiety goes down because they understand they are not alone.”


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Fox fights counterfeits
A joint investigation by Fox Racing, Inc., Trademark Management, Inc., and Northern California law enforcement authorities has resulted in the seizure of more than 2,400 pieces of counterfeit goods worth an estimated $40,000.
The raid on J&R Crafts in Red Bluff, Calif., was the result of several months of investigative work, according to a Fox spokesman. If convicted, the owners of J&R Crafts could face up to three years in prison and up to $250,000 in fines.
According to a recent report from the International AntiCounterfeiting Coalition, the worldwide counterfeit market is worth an estimated $350 billion, roughly 7% of the world trade.
“Fox Racing has a zero-tolerance policy when it comes to product counterfeiters,” said Geoff Fox, founder of Fox Racing.
Motorcycle Hall of Fame
The Motorcycle Hall of Fame Museum, Pickerington, Ohio, each year recognizes individuals who have made significant contributions to motorcycling.
This year, the museum announced 13 new members who will be inducted into the Hall of Fame on Oct. 5, 2003. This Class of 2003 will join 285 other legends already inducted:
C.E. Altman. Promoted the Houston Astrodome dirt track races that for many years were the kickoff for the AMA racing season. Pioneer of AMA Supercross events including Houston Astrodome and Pontiac Silverdome.
Debbie Evans. First woman to compete in FIM World Championship Trials event. Top rider in Women’s World Cup Trials competition. Motorcycle stunt rider in over 200 movies and television programs.
Tom Heininger. Co-fFounder of Webco performance equipment company. Promoter of motorcycling sport and business in 1950s, ’60s, ’70s. President of Motorcycle Industry Council in 1972.
Linton Kuchler. Executive secretary of the AMA in the 1950s and 1960s. Following a stint with NASCAR, he was brought back to lead the AMA in the mid-1970s. Helped launch the creation of the American Motorcycle Heritage Foundation.
Del Kuhn. 1950 AMA National Enduro Champion. Three-time winner of the Greenhorn Enduro. Class A Enduro Pacific Coast Championship winner in 1948, ’50, ’51, ’52.
Jeremy McGrath. Brought to AMA Supercross a previously unseen level of showmanship. Seven AMA Supercross Championships, Two World Supercross Championships, One AMA Motocross Championship.
Scott Parker. Nine-time AMA Grand National Champion, all-time record 94 Grand National Championship race wins, including 55 AMA National Mile wins, 35 AMA Half-Mile wins. Three-time winner of AMA Pro Athlete of the Year.
Duke Pennell. Five-time AMA “Flagman of the Year,” worked for nearly five decades as a race track official starter.
Jay Springsteen. Three-time AMA Grand National Champion with over 40 National Championship flat track race wins.
Fred Toscani. The last Class A National Champion. Won 9 AMA National titles from 1933 to 1938.
Theresa Wallach. Motorcycle adventurer and author who founded Easy Motorcycle Riding Schools, Inc. and published a training manual of same name. First Vice President of Women’s International Motorcycle Association.
Bruce Walters. Midwestern dealer and event promoter who was largely responsible for the success of the AMA Sanctioned Peoria TT.
Donnie Hansen, Danny LaPorte, Johnny O’Mara and Chuck Sun, the 1981 United States Trophee des Nations and Motocross des Nations Team. This team swept the 250cc Trophee des Nations and the 500cc Motocross des Nations, beginning a 13-year period of domination by the United States of America teams. LaPorte and O’Mara are the first “double inductees” having been inducted on their individual performances in 2000, and now as part of these teams.
Aps Buys Dealership
America's PowerSports (APS), one of the nation’s largest retail dealer networks, has acquired Pacific Motorsports of Oceanside, Calif. The dealership, which carries Suzuki, Sea-Doo and Kawasaki, is located one block from MotoPro, another APS dealership. MotoPro carries Honda, Yamaha, and Polaris. Financial details were not disclosed. Jack Hall, owner and general manager of Pacific for more than 20 years, will retire, but his two daughters will continue with the store.
APS has nine dealerships located in California, Texas and Alabama, and generates annual revenues of close to $100 million.
Triumph Offers Financing
Triumph Motorcycles (America), Newnan, Ga., and GE Retail Sales Finance have launched a new Triumph Consumer Credit program, an offering the manufacturer says should help dealers sell more motorcycles, parts and accessories and build greater customer loyalty and repeat business.
Offering consumers additional purchasing power as well as closed-end financing, the Consumer Credit program will, according to Triumph, offer dealer benefits including low discount rates; 90 days deferred interest/payments and low monthly payments after the promotional period; special seasonal promotions; fast credit of sales; no start-up or processing costs; a free terminal; customized applications, cards and in-store promotional materials.
KMC Recalls 3,000 V-Force
Kawasaki Motor Corp., USA, Irvine, Calif. is recalling 3,000 units of its KFX700 “V-Force”ATV because of a faulty throttle cable adjuster. Kawasaki says the throttle cable adjuster on the carburetor can loosen during operation, causing it to stick, which can cause the rider to lose control and possibly crash. The manufacturer says it has received three reports of the throttle sticking because of the faulty throttle cable adjuster. There was one report of a consumer suffering minor injuries.
The Kawasaki KFX700 V-Force machines being recalled were sold at Kawasaki dealers nationwide from March 2003 through June 2003 for about $6,500.
Piaggio on the Block?
IMMSI, the holding company of Italian financier Roberto Colaninno, said it expects to sign a contract to take over Vespa scooter maker Piaggio group, reports Reuters. IMMSI, in a prepared statement, said it expects the deal to close before the start of September. The firm said it had completed due diligence together with Morgan Grenfell Private Equity, a Deutsche Bank-controlled fund which owns about 86% of the scooter and engine manufacturer.
Yuasa Plans merger
Japan’s Yuasa Corporation (YUASA), Osaka, and Japan Storage Battery Co., Ltd. (JSB), Kyoto, have agreed in principle to merge under a jointly incorporated holding company, a move that would create one of the world’s largest storage battery companies with 12,000 employees and annual sales of $2.249 billion.
Under the terms of the agreement in principle, the two companies will jointly establish a holding company, called GS Yuasa Corporation, and become wholly-owned subsidiaries of the holding company.
In 2002, YUASA had operating earnings of $34.9 million on revenues of $1.124 billion while JSB posted operating earnings of $20.4 million on revenues of $1.116 billion.
Dowco names Vp-sales
Michael Kaczkowski has been named vice president of sales for DOWCO, Inc., a leading manufacturer of all-weather protection products and accessories for the powersports and recreational marine industries based in Manitowoc, Wisc. Kaczkowski is a 21-year manufacturing veteran with experience in sales and marketing management.
Indian Promotes O’Hagan
Indian Motorcycle Corporation (IMC), Gilroy, Calif., has promoted Fran O’Hagan, 38, to executive vice president. O’Hagan joined IMC in 2001, and most recently served as senior vice president of Sales, Service, Marketing and Product Management. Prior to joining IMC, O’Hagan was vice president of Retail Operations for Jaguar Cars and, before that, oversaw regional sales and marketing for BMW and managed the launch of the M-Class sport-utility for Mercedes-Benz. IMC’s June 2003 year-to-date retail sales grew 8% over the comparable 2002 period. The manufacturer serves approximately 200 Indian motorcycle dealers in the U.S. and Canada.
BMW sold a total of 103,020 motorcycles worldwide during 2002, 8.1% more units than it moved during 2001.
SportbikeS.com, Camarillo, Calif., acquired the Web site SportbikeWorld.com, a leading Internet stop for sportbike-related Web traffic comprised of a forum with more than 15,700 members and a gallery with close to 5,000 photos.
As a part of the deal, SportbikeWorld founder Robert Basil was appointed director of SportbikeWorld.com and editor in chief of Sportbike News. Financial terms of the deal were not disclosed.
SportbikeS.com — www.sportbikes.com — is the home of the Sportbike Riders’ Association, an online/offline based organization, which offers sportbike riders a comprehensive motorcycle towing and roadside assistance package and close to 100 sources for direct discounts on bikes, track time, motorcycle parts, accessories, and more.
Japan’s MC Output Slows
Japan’s motorcycle production in May 2003 dropped to 116,403 units, a decline of about 28,985 units, or 19.9%, as compared to the 145,388 units registered during May 2002, reports the Japan Automobile Manufacturer’s Association (JAMA).
Total production, by manufacturer, during May 2003:
Honda – 42,897 units
Yamaha – 38,571 units
Suzuki – 26,941 units
Kawasaki – 7,970 units
Others – 24 units
The production total from all manufacturers for the period from January 2003 through May 2003 was recorded as 811,058 units, down 49,803 units or 5.8% compared to the production of 860,861 units recorded for the same period 2002.
JAMA says Japan’s motorcycle exports during May 2003 were 73,645 units, down 15,728 units or 17.6% over the 89,373 units recorded for the same month 2002. The total value of motorcycles exported during May 2003 was $368.02 million, including $255.35 million for vehicles and $112.67 million for parts.
Total exports, by manufacturer, during May 2003:
Honda – 25,105 units
Yamaha – 24,599 units
Suzuki – 20,114 units
Kawasaki – 3,827 units
Of the May 2003 exports, an estimated 29,712 units were received in the U.S., down from the 39,246 units in May 2002.
Yamaha Goes Alternative
Yamaha Motor Co. said it has developed a methanol fuel cell perfectly designed for motorcycles. The fuel cell, which measures about 40 centimeters square, makes use of a chemical reaction between methanol and water instead of the hydrogen-oxygen reaction normally used in fuel cells. Yamaha Motor said the methanol-based fuel cell is better for motorcycles because it can be smaller than hydrogen-based models.
HOT NEWS – July 28, 2003
Fox fights counterfeits


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Dubai has launched a digital platform to help entrepreneurs to start a business in the emirate.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Rule of Dubai, made the announcement on his official Twitter handle.
Around 2,000 commercial activities will be unified under the Invest.Dubai.ae, with various local and federal entities linked to financial institutions to speed up the process.
Sheikh Mohammed thanked everyone involved in the launch, saying it is the "culmination of four months and 80,000 hours of work".
The new platform contains interactive tools including a 'Dubai Business Map' that allows investors to search for opportunities within specific commercial zones and the city's free zones. It also has sector reports and statistics on foreign direct investment, as well as tools to search trade names and to obtain trade licences for more than 2,000 commercial activities, according to a Dubai government statement.
It allows potential investors to begin the process of setting up businesses by securing labour quotas, notarising contracts and gaining membership of the Dubai Chamber of Commerce and Industry, among other things.
The platform has been put together over a period of four months, with input from more than 20 local and government federal agencies, the statement said. These included the Ministry of Economy, Dubai Police, The Roads and Transport Authority, Dubai Courts, Dubai Customs, the Department of Tourism and Commerce Marketing and Dubai Land Department, among others.
Invest in Dubai was developed by Smart Dubai and the Dubai Department of Economic Development (DED), under the supervision of the General Secretariat of The Executive Council of Dubai.
A team of more than 70 members, representing more than 20 local and federal government entities, coordinated with the private sector, over a period of four months to develop the platform.
The Dubai Department of Economic Development will administer the platform, which can be accessed on invest.dubai.ae.


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The World's Grossest Liquor Is Being Recalled in Europe
Oh, what a difference a day makes.
The Internet erupted into collective glee Monday over a viral video that showed a wedding party consuming a bottle of Fireball whiskey. Today, news broke that the cinnamon-flavored liquor has been recalled in Finland, Sweden and Norway because it doesn't comply with their regulations.
The reason? Too much propylene glycol, an ingredient used in some kinds of antifreeze, among other things.
Wait, what? The liquor, favored by college students and people lacking taste buds everywhere, is made in two batches. One is destined for the United States and Canada, which allow for a certain amount of propylene glycol in food; the other heads to Europe, which does not. The Daily Beast reports that a shipment meant for North American markets was sent to Europe.
"Finland, Sweden and Norway have asked to recall those specific batches, which is what we are doing," a spokeswoman told the Daily Beast.
The Food and Drug Administration says a little bit is OK. Propylene glycol has multiple uses — industrial, cosmetic and food-related. In Amsoil, it's an antifreeze; in Fireball, according to the makers, it's used as a sweetener. The Daily Beast notes that the FDA allows a certain amount of propylene glycol in food products, up to 50 grams per kilogram. American Fireball has less than one-eighth of this amount, a spokeswoman said.
However, Europe isn't as down with the stuff; it's "not approved as a general-purpose food grade product or direct food additive for human consumption," according to one distributor. The European formula for Fireball has less than a single gram per kilogram.
"All Fireball formulas are absolutely safe to drink," the company's spokeswoman emphasized. The Centers for Disease Control declared that it's "generally regarded as safe for use in food."
Still, something that's banned in Europe — and causes enough worry that some countries are recalling products in which it's an ingredient — isn't the most comforting thought in the world, especially given its recent explosion in popularity in the States.
Take heed, frat bros. You may want to think before you take another shot of Big Red's liquorized cousin.
Correction: Oct. 29, 2014
h/t Daily Beast


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FORT MYERS — Women’s retailer Chico’s FAS, coming off its best financial quarter in eight years, has named public company finance and operations veteran Patrick Guido CFO.
David Oliver, who had been interim CFO for the Fort Myers-based company since February 2020, has been re-appointed to his prior role of senior vice president finance – controller and chief accounting officer, according to a statement. For Guido, the spot at Chico’s is his third CFO role of a public company in the past three years: he was named CFO of athletic wear pioneer Lululemon in 2018 and left that company to take the same job at Asbury Automotive Group in May 2020. He then left Asbury this past June, citing personal reasons, according to a statement from the Duluth, Georgia-based auto retailer.
Guido will report directly to Chico’s President and CEO Molly Langenstein, according to a statement from the company. Guido has more than 20 years of finance and operations experience and has held numerous executive leadership roles at premier retail and consumer companies. Prior to Lululemon, Guido held leadership roles in the finance departments at fashion and apparel company VF Corp. and The Home Depot.
At Lululemon, Guido, who goes by PJ, “provided financial oversight and business analytics during a historic growth period at the company, which resulted in a significant increase in aggregate revenue, strong EPS growth and substantial increase in share price over two years,” the release states.
"PJ is a highly accomplished finance executive with deep knowledge of the retail industry and a proven track record guiding companies through significant growth periods," Langenstein says in the statement. "We are excited about the growth of our company. I am pleased to welcome PJ to the Chico's FAS team."
"I am incredibly excited to join the Chico's FAS team and leverage my industry experience to continue strengthening the company's financial and operational performance," Guido says in the statement. "I look forward to partnering with Molly and the rest of the team to continue capitalizing on Chico's FAS' impressive momentum in its return to sustainable, profitable growth."


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Huobi, the Seychelles-based crypto exchange has repeatedly brought a lot of disruption owing to its bent towards technology and solutions that can transition the present market. In one of its similar moves, It has notably integrated fiat-to-crypto payment service Banxa to its trading platform but without any fees.
As per the further information, based on the announcement made yesterday, the service will be extended to users in Australia, the U.K., and the European Union (EU). The new integration will enable them to purchase cryptocurrency on Huobi’s Buy Crypto page through different payment methods available in the respective regions. This service can be availed right from today.
The new payment gateway is a much welcome move and the users who wish to avail of the service can do so on the new payment gateway on the Huobi OTC site. They can further purchase up to $20,000 worth of crypto in AUD, GBP, or EUR if they intend to begin trading. The funds in question can be instantaneously added to a user’s account with the help of bank transfers, or plastic cards including debit and credit card. If not for these payment methods, the users can use their own preferences provided the payment methods come with zero fees.
As per the announcement, the users who want to avail of the service will have to submit a one-time identity verification as a part of the entire transaction process. Specifically for the users in the UK market, the users can access the service through a new in-built solution in the concept which is through Faster Payments bank transfers. The users in the European Union nations can access the services through the Single Euro Payments Area (SEPA) initiative while the Australian users can engage in purchases through the payments platform POLi.
Huobi is the world’s third-largest crypto exchange in terms of derivatives trading volume. Last month the crypto exchange had launched a new crypto savings product which offered interest rates much higher compared to that of traditional banking services. The new crypto savings product will be available to roughly 1,000 users wherein each individual account will have a limit of 3,000 Tether limit or the equivalent of Bitcoin.
When the new crypto savings product was launched it was restricted in some countries such as China, Hong Kong, Japan, Singapore, the United States, Germany, Canada. Thanks to the new product offering Huobi has opened doors to financial empowerment through impressive interest rates. The plan is flexible which will enable users to make both deposits and withdrawals at any time. Interest will be paid out to users every day.
Banxa known to be a digital banking infrastructure provider has its offices in Melbourne, Australia and Amsterdam have apparently raised $2 million in a Series A round in January after it partnered with Huobi rival Binance. It also now intends to expand to the US in July. Ciara Sun, Huobi Global’s head of global business and markets, also was slated to make public the integration on Wednesday in a virtual event, invest: ethereum economy.


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Storm causes building wall at Amazon.com warehouse to collapse
Monday, November 5, 2018
On Friday, a storm caused a building to partially collapse in the Amazon Fulfillment Center at the warehouse of Amazon.com, a US-based online retailer, in south-east Baltimore, Maryland, United States. The storm removed the roof of the building, causing a 50 (about 15 ) concrete wall 8 (about 20 ) thick to collapse. At least two people died, and as of Saturday one person reportedly remained missing.
Meg McNamara from the tweeted that the severe weather included two . The weather service said the tornadoes touched down at 8:20 p.m. and 9:42 p.m. local time, the second in Baltimore City impacting the Amazon warehouse.
On Saturday, thesaid in a tweet that they identified the victims as Israel Espana Argote and 54-year-old Andrew Lindsay. The Fire Department had conducted a search and rescue operation for bodies in the debris, involving heavy equipment.
- "2 Killed At Amazon Facility Identified" — , November 4, 2018
- "2 Tornadoes Caused Damage In Maryland, Reaching Peak Of 105 MPH" — , November 3, 2018
- "National Weather Service: observations in Baltimore, MD" — , November 3, 2018
- "Firefighters recover body of a second man after Amazon warehouse collapses in storm" — , November 3, 2018
- "2 dead after Amazon building partially collapses in Baltimore" — , November 3, 2018
- Greg Ng. "2 dead in partial building collapse at Baltimore Amazon warehouse" — , November 3, 2018


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Get 50% off all remaining Hummel stock
With the season nearly over, why not head down to our club shop this week and take advantage of the 50% off sale on all hummel gear, ranging from our training range, to the official shirts!
50% off all Hummel gear in our end of season sale!
Why not head down to our club shop this week and take advantage of the 50% off sale on all hummel gear, ranging from our training range, to the official shirts!
Make the most of our 30% off hummel sale this week
Why not head down to our club shop this week and take advantage of their 30% off sale on all hummel gear, ranging from our training range, to the official shirts?
Grab yourself a bargain in the club shop with 30% off all Hummel gear
We are having a sale on all Hummel gear until the end of the season, so before it's too late, make sure to check out our official store to get hold of this year's kit and training tops!
Club Shop update: Town looking to purchase more away shirts
Fleetwood Town are delighted to say that we are looking to order more of the in-demand away shirt following successful sales at the start of the season.
Introducing our new home kit
Fleetwood Town are delighted to unveil the new home kit for the 2022/23 Sky Bet League One season, produced by our official kit partner hummel.
Get kitted out in our brand-new hummel range online today!
Fleetwood Town are launching their brand-new hummel training range for the 2022/23 Sky Bet League One season tonight at 5:30pm on the online store and 9am on Tuesday 31 May from the club shop.
Initial 100 away shirts on sale now - act quick and get yours today!
The day has come when you can get your very own 2021/22 Fleetwood Town away shirt, produced by hummel!
Fleetwood Town extend partnership with hummel
Fleetwood Town has agreed an extension to the partnership with iconic sportswear brand hummel.
Fleetwood Town host the first Hummel International Trophy at Poolfoot Farm
Poolfoot Farm hosted the first ever pro-am Foundation Phase tournament over the weekend with over 20 teams taking part at Fleetwood Town's training complex.
Town team up with hummel to launch 2019/20 ZEROH2O kits
Fleetwood Town have teamed up with kit partner hummel to launch ZEROH2O - environmentally friendly sports apparel for 2019/20 and beyond.


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The year 2022 promised much but delivered much more than anyone in Web 3 wanted. Who could have forecast the toppling of centralized crypto entities like dominos, billionaires entering social media and killing off their own stock, the FTX collapse overshadowed by polyamory rumours and the magic bail of $250 million based on a $4million house, Trump’s taxes being released (and he paid no tax at all in 2020), congressman-elect George Santos lying about pretty much everything on his CV (but calling it embellishment) and then one returning online influencer trying to troll Greta but ending up in Romanian prison instead after he outed his own location. And no, I’m not going to name names but you can google ‘smalldickenergy’ if interested.
It's been a bit of a head melt in one way or another. Crypto winters are a time to build, we all know that, but the craziness of the last few months have rollercoasted us into a new level of all time crazy. So, we checked around and asked some web3 players what new year resolutions they would make on behalf of themselves or the industry in general. This is what they had to say:
Tim Draper, VC extraordinaire at Draper Associates and founder of Draper University, thanked me for the reminder to make new year’s resolutions. He said for his VC his goal was to build relationships with more family offices and to see the companies that will be the multi-trillion companies of the next decade. He’s not wrong there as he’s already invested in many unicorns such as Yahoo, Tesla, SpaceX, Coinbase and Ledger.
With Draper University, his goal is to continue to find the best entrepreneurs in the world and mould them into heroes. And for his television series, Meet the Drapers, his goal is capitalise on the 30 plus million viewers we have watching from around the world.
On crypto itself he sees it focused on funding companies that “1. Decentalise some industry, 2. Encourage more Bitcoin development around smart contracts, NFTs and DeFi and finally 3. Bring us on an anthropological leap forward.”
Alex Mitrovitch, CEO and co founder of Unique Network, in the Polkadot ecosystem has two very resolutions. For his own platform, he wishes to assemble a community of the world’s most innovative projects on unique in 2023 and launch them.
He also wants healing for the overall crypto community: “Removing the excesses, healing the wounds and thriving of truly innovative, useful solutions to the real world problems and with it a new NFT summer.”
Kevin Rose, CMO of Alien Worlds, one of the largest blockchain games operating in the WAX ecosystem, is succinct:
He believes gaming is the gateway to the metaverse and so it requires fast iteration focusing on fun.
He also stresses: “Collaborate with the Community at every step.”
And he has a sense of humour about events in the past year...
David Dobrovitsky, serial entrepreneur and co founder of two blockchain startups, Glitter Finance and The Rainbow Network wants his company to increase the number of networks they are covering and the variety of products on offer. For Web 3 he wants to find a greater balance between hype and reality and to build on value not hype.
“For me personally, I want to find a better balance to focus on family while getting work done.”
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Ryan Wyatt, CEO of Polygon Studios, is bullish on 2023. He points out that in 2022, Polygon expanded marketplace and wallet integrations with partnerships across @opensea, @MagicEden, @coinbase, @RobinhoodApp, and @phantom. Like Rose he sees gaming as a big part of 2023.
“We then focused on establishing big brand in Web3, then went big into gaming, DeFi & music.
“In 2023 we’ll go big into PFP and art.”
Oh, and he made the nice Santa list over at decrypt: READ HERE
Christopher Perkins, President of Coinsfund, related in this thread how he nearly died on tour in Iraq in 2004. You can read the full thread here:
At the end, his survival means his focus is to tirelessly build the next generation of the internet – where decentralised technologies can empower creators, bank the unbanked and drive a more inclusive financial system.
He closes off by saying: “I’m also excited to help veterans find jobs in Web3 – this initiative is not only great for vets but equally beneficial for crypto.”
Hugo Philion, co founder and CEO of Flare Network made it into top Web3 projects to watch in Finance Magnates and the top 14 interesting blockchain projects in BlockTelegraph as he advances to TDE on January 9th. He’s building in 2023.
And Vitalik Buterin, founder of Ethereum, has some nice words to say about one community hit hard by the FTX collapse:
He writes on Twitter as the year closes: “Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunist money people have been washed out, the chain has a bright future. Hard for me to tell from the outside but I hope the community gets its fair chance to survive.”
And that for me is the one of the nicest ways to close out this year. It’s been full of hype, turmoil and despair – but also growth. Let’s keep building and make crypt great again (to borrow a phrase from someone who may be less visible in 2023).
And perhaps pizza is a dish best served cold.
Happy 2023 to All


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West Brom announce sponsorship extensionWest Bromwich Albion have announced that their front of shirt sponsorship with Ideal Heating has been extended for a further three years.
They became West Brom’s sponsors in 2018 and the new deal, which runs to the conclusion of the 2023/24 season, will see the partnership extend to a sixth campaign – making it one of the longest commercial relationships in the club’s history.
Ideal Heating (formally Ideal Boilers) first agreed a deal with Albion at the start of the 2018/19 season, with the sponsorship taking social media by storm when the now-world-famous “Boilerman” – arguably the most iconic mascot of all time - was unveiled at The Hawthorns.
The three-year partnership has gone from strength to strength, with Ideal Heating providing hundreds of tickets to local organisations, as well as merchandise competitions for Baggies fans, and many other successful, supporter-led initiatives.
Ideal Heating has been at the forefront of designing and manufacturing heating technology here in the UK for more than a century. It’s known and loved by homeowners, business owners and installers alike for its industry-leading product range and its creative marketing and sponsorship activity.
Simon King, Albion’s Chief Commercial Officer, is delighted to have extended the agreement, having worked closely with the club’s Principal Partner since 2018.
He said: “Ideal Heating are a brand that continues to grow rapidly and are at the forefront of innovation within their sector. They are a true partner in every sense of the word and it has been quite a journey with them so far, both on and off the pitch.
“I’m looking forward to seeing our long-standing relationship with Ideal Heating continue to flourish and we will strive to build on the fantastic results our partnership has already delivered.”
Chief Executive of Ideal Heating, Shaun Edwards, added: “We take our role as Principal Sponsor very seriously, but we also like to have a good time – which is why we get on so well with West Brom and its fans. Our legendary Boilerman character was born at The Hawthorns three years ago, and is now centre stage in all of our TV ads and installer materials.
“As well as being a part of the team’s success over the past few seasons, we’ve loved getting to know local people, and will continue to focus on our charity and community work throughout this next term. We’re incredibly excited to be back for another three years, and look forward to building on everything we’ve already achieved with the club.”
Posted in Club news on


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As of July 24, 2022, some 1178 companies are still operating in Russia at a full or limited scale, according to the KSE Institute. Altogether, they annually generate around $119 billion of local revenue in the aggressor country. Around a third of them are the companies that choose to stay and continue operations as usual but the rest are those simply buying time. The latter companies claim that they have reduced current operations and held off new investments but by keeping operations in Russia continue funding its war machine.
Among these companies are such well-known names as Pepsi and Coca-Cola, large European retailers Auchan and Metro, international tobacco giants — Imperial Tobacco, Japan Tobacco International, and Philip Morris, and a long list of the FMCG, pharma and healthcare companies that justify their presence in Russia by claiming that they provide Russians with so-called “essential goods” (Procter & Gamble, Nestle, Johnson & Johnson).
All the companies remaining in Russia despite the five months of war crimes and atrocities by Russian troops in Ukraine are also financially supporting the Russians in the meantime. Altogether, they have over 431 thousand employees in Russia to whom they pay salaries and for whom they pay payroll taxes.


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The hacker was identified as a “she” and demanded $100 million for the source code. If there was no buyer, she threatened to “leak everything”. Woah!
Taken from Engadget … AMD has been having a particularly rough few months, apparently. The chip designer has revealed that a hacker stole test files for a “subset” of current and upcoming graphics hardware, some of which had been posted online before they were taken down. While AMD was shy on details, the claimed intruder told TorrentFreak that the material included source code for Navi 10 (think Radeon RX 5700 series), the future Navi 21 and the Arden GPU inside the Xbox Series X.
The self-proclaimed hacker added that she wanted $100 million for the source code and threatened to “leak everything” if there was no buyer. She reportedly found the GPU data in a “hacked computer” in November, although AMD said it hadn’t been approached until December.
AMD doesn’t appear to be bowing under pressure. It believed the stolen code was “not core to the competitiveness or security” of its products, and said there was an “ongoing criminal investigation.” This shouldn’t affect the launches of the Xbox Series X or other products. Even so, leaks for any sensitive files are still big deals — they suggest a significant lapse in security.


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Supermarket chain blocked from leaving Kenyan market
South African retail giant Shoprite has been blocked from pulling out of the Kenyan market or removing its assets from Kenya.
High court Judge Anthony Mrima issued the order pending the hearing of a suit filed by a man who claims a stack of plastic containers fell on him at the said supermarket at Garden City Mall in Nairobi.
“An order is hereby issued restraining the Respondent herein, Shoprite Checkers Limited, from selling, transferring or concluding any sale or transfer of its business within Kenya as a going concern,” Justice Mrima ruled.
The supermarket, which entered the Kenyan market two years ago, was set to exit by the end of this month with the closure of its Nairobi head office.
Patrick Alouis Macharia Maina, an IT developer, however, sued the supermarket seeking to block it from leaving, until a case, which he filed after he allegedly encountered an accident in the supermarket, is heard and determined.
Stack of containers
He claims that in September 2019, at 5:40 pm, or thereabouts, he attempted to lift the stack of containers in order to inspect them more closely, and the stack of lids that had been loosely placed on top of the containers suddenly slid off without warning and violently struck him on the front side of his face with its combined weight, hardness and velocity
Doubled up in excruciating pain, and feeling dizzy, he quickly rushed to a camping chair that was on display a few meters away where he sat in a bent over position completely overwhelmed by the immense pain and shock.
He says the violent impact of the falling stack of lids caused him to suffer head injuries, excruciating pain and immediate psychological shock, and psychological distress.


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The biggest question first-time buyers have when buying an EV relates to range. “How far can I go in this thing?”
It makes sense. While making it 300 miles or so isn’t bad for a modern EV, it does mean that you have to stop at a charging station more regularly than you have to fill a tank on a gas-powered car, and charging can be a little time-consuming. So what’s the fix? Either better range or faster charging — and Toyota says that it has cracked the code for the former.
At a technical briefing in early July, Toyota announced that it has made a breakthrough in battery technology that will allow it to eventually create batteries that offer a whopping 745 miles of range on a single charge — and that it’s aiming to create a battery that would give an electric car 900 miles of range.
But don’t put off that Prius Prime purchase just yet. As with all new technologies, there are still hurdles to clear and a long road ahead. Here’s everything you need to know about Toyota’s solid-state battery tech, and what it means for EVs going forward.
What is a solid-state battery?
Table of Contents
The way a conventional battery works is quite simple. It has a cathode on one side and an anode on the other. Generally, batteries create a reaction by causing electrons to flow from one side to the other, which in turn creates a circuit and powers your device.
To date, EVs have used essentially the same kinds of batteries as those used in our phones, smartwatches, and so on. In these batteries, the cathode and anode live right next to each other, separated by a porous plastic membrane that allows the liquid electrolyte solution to flow from one side to another, generating current.
A solid-state battery keeps the fundamentals — it has an anode and a cathode, and it causes electrons to flow from one side to the other. But in a solid-state battery, the separator between the anode and the cathode is also the electrolyte.
The end result? A more energy-dense battery that allows manufacturers to fit more energy in smaller packages. Solid-state batteries are also much faster to charge — so you’ll spend less time waiting at electric car charging stations.
The tech has actually existed for some time now, but solid-state batteries have been expensive and difficult to manufacture, preventing them from being used widely. Toyota says that it has simplified the production of solid-state batteries, which could be a huge development for the vehicles they’ll power.
What does it mean for EVs?
If the tech truly does live up to its potential, it will be game-changing for electric cars. For Toyota, this means that it could produce cars that offer a range of up to 900 miles or more. The company says that it plans to release electric cars with this new battery tech by 2028 — so we will have to wait a while to take advantage of it.
What would a car with a solid-state battery perform like? As mentioned, Toyota says that its first generation will reach a range of around 740 miles, and be able to charge in around 10 minutes. They’ll also be safer — since solid-state batteries don’t have the same flammable liquid solution found in current batteries.
Will other companies use this tech?
If this looks like a trump card that will allow Toyota to dominate EVs after dragging its feet on them for years, think twice. We know for a fact that companies other than Toyota are heavily invested in solid-state battery tech, so even if Toyota is the first to deploy it in a car, other companies surely won’t be far behind. For example, Mercedes-Benz has entered a partnership with ProLogium, an energy company focused on solid-state battery tech. Volkswagen is partnered up with QuantumScape, and BMW has partnered with the U.S. company Solid Power.
So, while Toyota has certainly made headlines for its breakthroughs, don’t expect it to be the only company with longer-range, faster-charging cars. These solid-state cars will take some time to come to market — but when they do, they’ll likely make for a much better EV experience overall.
There is one issue that could hamper the production of solid-state batteries though — lithium supply. Solid-state batteries could end up using a lot more lithium than traditional batteries. Some research suggests that solid-state batteries could use five to 10 times as much lithium as current-gen batteries. There’s already a lithium shortage, so that’s a major issue.
So what’s the solution? Right now it’s hard to say. EV battery recycling could play an important role, but even then it’s unlikely we’ll be able to recycle enough lithium to supply materials for new battery tech. We’ll have to wait and see how battery manufacturers address this. But with at least five years before we expect to see this tech in production vehicles, it’s possible that the supply question could look quite different by the time they’re ready for the road.


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HN's PC sales dive
In its quarterly announcement to the stock exchange, Harvey Norman announced last week that computer sales for the quarter ending September 2001 had dropped 7 per cent on the same period last year. The retail giant reported total revenue across all divisions of $630 million, a 5.5 per cent increase compared to the same period last year. According to the company, the decrease in computer product orders was caused by the worldwide decline in computer hardware sales. The overall sales result was nevertheless pleasing, the company said, considering the difficult trading conditions in the marketplace.
MS extends deadline
Microsoft has extended for the second time the deadline for companies to enrol in a new program for licensing and upgrading software. IT executives now have until July 31, 2002 to decide if they want to enrol in Microsoft's new License 6.0, a volume licensing program, and its companion upgrade program, Software Assurance. Both plans, which are available to those with Open and Select software contracts, have been met with passionate resistance by IT executives who say their licensing costs will dramatically increase. A study by Guernsey Research revealed companies that stay on a two-year upgrade cycle save 19 per cent in licensing costs under Software Assurance. But companies on a three-year cycle will see a 40 per cent increase.
Partners bask in Sun
Frontline Systems, Fujitsu and newcomer Clarity emerged victorious at Sun Microsystems' 2001 Annual Reseller Awards last week. Frontline Systems won the major award for outstanding sales results, as well as for generating the highest number of bookings for support services. ASX-listed software developer Clarity was named Best New Reseller of the Year, while Fujitsu took out Sun Service Manager of the Year.


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Minami Tamaki LLP is investigating Emeryville, California-based Plum Organics after a congressional subcommittee report released on February 4, 2021, found dangerously high levels of toxic heavy metals, including inorganic arsenic, cadmium, lead, and mercury, in baby food products from Plum Organics and other companies.
The products identified in the report include rice puffs, purees, snack bars, and other foods for babies and toddlers. The Plum Organics products named in the report include Mighty Morning Bars and Little Teethers. Minami Tamaki is also investigating claims that the Bay Area-based company’s other products, including its Super Puffs, pouches, Mighty 4 Blends, Mighty Snack Bars and Teensy Snacks, also contain dangerously high levels of toxic heavy metals.
Numerous studies have found that toxic heavy metals endanger neurological development and long-term brain function. Babies and young children are at the greatest risk of harm from toxic heavy metal exposure. The report stated that exposure to heavy metals can lead to brain damage in babies and young children, which can result in reduced intelligence or disruption in behavior. The report went on to note that the Food and Drug Administration has declared that inorganic arsenic, lead, cadmium, and mercury can “lead to illness, impairment, and in high doses, death.”
The report revealed high levels of toxic heavy metals in baby food sold by other companies, such as Gerber, Hain Celestial, Beech-Nut, and Nurture. While these companies complied with the congressional request for information regarding their products, other companies (including Plum Organics) refused to cooperate with the subcommittee’s request.
If you have purchased Plum Organics products and wish to receive more information about our investigation, you may contact Minami Tamaki Consumer and Employee Rights Group (CERG) members Sean Tamura-Sato, Lisa Mak, and Claire Choo online or call us at 415-788-9000.
*The contents of this article is for general informational purposes only and does not constitute legal or medical advice. Information in this article may not constitute the most complete or up-to-date legal or other information. Readers should contact a licensed California attorney to obtain advice with respect to any particular legal matter. Use of this website does not create an attorney-client relationship between the reader and Minami Tamaki LLP.


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VeraWear Launches New Perfume Along With Nationwide Model Search For The Brand
The all-around beauty company launches its annual modeling competition in hopes to find the face for its newest products
Orlando, FL (PRUnderground) July 28th, 2020
VeraWear, a US-based cosmetics company, is venturing out with their newest line of products – Scents. Alongside this, Vera is also on a mission to find their newest and freshest face for the brand – starting with its annual model search. In today’s world, it’s easy to get lost in a sea of faces on digital platforms across the globe, but it’s becoming increasingly difficult to find someone who has all it takes to become a global ambassador. VeraWear is on a mission to take things to the next level and offer an opportunity of a lifetime to one lucky woman.
Founded in 2011 by CEO Angel Rivera, VeraWear has become one of the most sought-after beauty companies in the US. It has consistently differentiated itself from other brands with their edgy, high-end yet accessible products that aim to elevate any woman’s wardrobe. The brand is for the modern woman who balances life with class, elegance, and style.
VeraWear has made it their yearly tradition to search across the globe for a fresh face with an amazing personality that could represent the brand. This year, treatment of the search will be a bit different, with a show on the works called “The Vera Project”. Thousands of models across the country apply in hopes of fulfilling a life-long dream. The winner gets a one year modeling contract worth $100,000.00 and of course will be headlining all the products for the year.
The show is officially in the works with a mission to start the model search in August. “I am looking for a model to represent Vera in various platforms, in the media, on the runway and in the boardroom. I want someone who is going to lead our model division and inspire others for generations,” said Rivera. VeraWear is conscious of the fact that their platform allows them to be looked up to, and they want the next face of their brand to be able to carry those good qualities.
To make things more exciting, VeraWear has officially entered the perfume market in hopes to break into a saturated industry. The Throne is the name of the first-ever scent, with a trio of chords that break the traditions and an irresistible wraparound of blackcurrant that plays with the opulence of freesia. All of these are intensified by the involvement of wood and vanilla.
If interested, head on over to https://www.VeraWear.com to know more about the VeraWear model search and the VeraWear line of products.
About Vera Wear
CEO and Founder Angel Rivera founded VeraWear in 2011. It is a US-based company that sells high-end and high-quality clothing, beauty, and skin care products.


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Apple enters the market for online education tools by expanding iTunes U beyond webcasting to delivering online courses
iTunes U is a dedicated part of iTunes focused on delivering online course. The product started out as a media publishing source, to view webcasts and slides. But it has since expanded into a dedicated online elearning tool including a dedicated iOS app and has spread from conferences and university courses to include (US) school curriculums.
Developments are being covered by Fraser Spiers:
- Driving the classroom with iTunes U – February 2012
- What’s new in iTunes U – July 2012
Latest additions include the ability to capture course notes…


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All eyes were on Tesla (NASDAQ: TSLA) over the weekend, with the company reporting its much-anticipated third-quarter car delivery figures. Most analysts were already predicting another record-breaking quarter for the reigning electric vehicle manufacturer. It turns out they were right, as Tesla’s results again outperformed the already optimistic estimates of a largely bullish Wall Street.
The company reported that it delivered 241,300 electric vehicles during the third quarter of 2021. That’s significantly higher than the 220,900 deliveries that were originally expected. The vast majority of Tesla’s sales were of the Model 3 and Model Y cars, while less than 9,000 sales came from the Model S and X vehicles.
In comparison to last quarter, where Tesla delivered 201,250 cars, that’s a massive improvement over a single quarter. Unfortunately for analysts, Tesla doesn’t break apart its sales figures from China as opposed to the United States. We do know that Tesla started shipping parts from its Shanghai plant to its U.S. facilities this year to help with logistics.
“Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more,” read an official statement from Tesla. “We would like to thank our customers for their patience ad we work through global supply chain and logistics challenges.”
Unlike most other companies, Tesla reports its quarterly delivery figures separately from its regular Q3 results. Investors will have to wait a bit longer for those other financial figures. However, from a stock market perspective, car deliveries are the main metric that growth investors pay attention to, with other figures like revenue growth and profitability being secondary, although still important.
Unlike other car companies, Tesla has been hit less hard by this semiconductor shortage than others in the industry. For a brief time, Tesla suspended some of its operations at its Shanghai assembly plant, although that was short-lived. Elon Musk has said that the semiconductor shortage will sooner or later sort itself out and likely won’t be around for longer than a year. In comparison, other carmakers have cut production by 10% or more overall.
Tesla stock will likely jump a bit on this news, but likely not by much since the deliveries beat was already expected. Since the start of the year, however, Tesla has been up only 6.2%. Shares tumbled significantly earlier this year, with the company currently sitting at a lofty $767 billion market cap. Many shareholders already consider the stock overpriced at the moment.
Tesla Company Profile
Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. It sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. The Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017, and Model Y in 2020. Global deliveries in 2019 were 367,656 units. Tesla went public in 2010 and employs about 50,000 people. – Warrior Trading News


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Robotic sales have increased considerably. Anna Wells, Executive Editor of IEN, highlights several key news on the booming industrial market. Citing reports from the AMT, the Association for Manufacturing Technology, and the Federal Reserve warnings of supply and labor shortages, despite a strong economy, were limiting business's ability to meet demand.
Labor shortages will continue to hamper businesses ability to maximize growth. Many organizations are analyzing operations and looking to automation as a way out. The Association for Advancing Automation reported that orders for robotics ballooned by 20 percent in quarter one of 2021, and all factors lead to more businesses and industry incorporating automation. Jeff Burnstein, president of A3, offers insights and perspective as well as Kelly Kamlager of RIOS who states, "It is increasingly cumbersome to deliver complex product solutions to customers as rapidly as humanly possible. Yet becoming faster is a critical competitive advantage for production." Anna Wells continues with insights on how to make choices to positively impact productivity. Read the full article
RIOS develops and deploys dexterous AI-powered robots to factory assembly lines and warehouses to help global customers automate their supply chain or logistics operations. We’ve developed a first-of-its-kind haptic intelligence platform for robots – this enables our robot to handle hard-to-automate tasks that typically require human-level-dexterity and involve manipulating thousands of SKUs. Our robots possess higher levels of dexterity, cognitive skills, and autonomy than today's robots and operate in unstructured environments. Many companies are connecting with our team of automation experts to learn more about opportunities within their facilities to integrate robotic automation. RIOS encourages you to reach out very soon. You can sign up to be the first to know and get your spot on the waiting list:


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According to industry insiders, Apple's overseas partners are currently accelerating production of the latest iPad models, aiming for a heightened output and a scheduled release in May this year.
With no iPad updates from Apple in 2023, anticipation is high for the expected releases this year, notably the iPad Air and iPad Pro. Insiders have confirmed that these upcoming models will mark significant advancements, including the introduction of a 12.9-inch display for the iPad Air and the incorporation of OLED technology in the iPad Pro.
The prolonged absence of updates in the iPad series, spanning 18 months, has set a record in Apple's history, coinciding with a noticeable decline in quarterly iPad sales.
Despite inquiries, Apple has chosen not to comment on the matter.
Leaks suggest that the new iPad Pro models, identified by their codenames J717, J718, J720, and J721, will feature the latest M3 chips. Additionally, consumers can anticipate the release of new accessories such as the Magic Keyboard and Apple Pencil.
Previous reports hinted at Apple's plans for an April product release, but industry experts speculate that the delay may be attributed to the technical intricacies involved in integrating OLED displays.
Apple enthusiasts can look forward to the WWDC (Worldwide Developers Conference) scheduled for June 10, where Apple is expected to unveil its latest innovations in artificial intelligence (AI) and software updates across various product lines.


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LG counts on G+D Mobile Security for mobile payment services
LG has launched the LG Pay mobile payment service supporting Mastercard and Visa in the United States, the first market outside of its home country of South Korea. The Convego® CloudPay service from G+D Mobile Security is used for deployment, provisioning and lifecycle management of virtual payment cards.
The LG Pay mobile payment service has recently become available in the United States on LG Electronics flagship smartphones. It enables users to add their physical Mastercard and Visa payment cards to their mobile phones in virtual form with just a few clicks. They can then use their smartphones to pay at any contactless terminal that supports Mastercard or Visa. LG Pay supports contactless payments using near-field communications, but also supports magnetic stripe–only payment terminals by incorporating Wireless Magnetic Communication.
Convego® CloudPay enables token aggregation across the payment networks for the LG Pay by provisioning the lifecycle management of the tokens. G+D's Convego® CloudPay service is connected to the tokenization services of Mastercard (Mastercard Digital Enablement Service, MDES) and Visa (Visa Token Service, VTS). It requests the necessary tokens for each payment transaction and transmits them reliably and securely to the LG smartphones.
The cooperation with G+D Mobile Security enables LG to scale transparently across payments schemes and increase security for its mobile payment service. In addition, the company can fully concentrate on its core competencies of mobility services and user experience. Since Convego® CloudPay supports numerous payment systems, LG will also be able to easily extend the payment service to other payment service providers and make it available to users with consistent user experience.
"We are proud to be the first provider worldwide to support one of the leading mobile device manufacturers with such an implementation," says Carsten Ahrens, CEO of G+D Mobile Security. “We consider the partnership with LG as another proof of the market leadership of our mobile payment solutions competence and look forward to continue developing LG Pay together with LG".
About G+D Mobile Security
G+D Mobile Security is a global mobile security technology group headquartered in Munich, Germany. The company is part of the Giesecke+Devrient Group. G+D Mobile Security has around 5,300 employees worldwide and generated sales of around 868 million euros in the 2018 financial year. More than 40 sales offices and more than 20 certified production and personalization locations worldwide ensure international customer proximity.
G+D Mobile Security manages and secures billions of digital identities over their entire lifecycle. Our products and solutions are used daily by banks, network operators, manufacturers of mobile devices and automobiles, health insurance companies, private and public transport companies and their customers to secure mobile payment, communication and interaction between devices. G+D Mobile Security holds a leading competitive and technological position in these markets.


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Delaware Chamber seeks applicants for small business award
The Delaware State Chamber of Commerce and its Small Business Alliance are seeking applications for the 2017 Marvin S. Gilman Superstars in Business Awards.
The awards are presented annually to small businesses and nonprofits in Delaware. Winning companies should be viewed as models of small business excellence with success in areas such as strategic marketing, customer service, quality control and financial service. The companies are also good stewards of the community, giving back through leadership and employee involvement.
In order to be eligible, a company must be a member of the Delaware State Chamber of Commerce, have been in operation for at least three continuous years and have less than 150 employees. Previous winners may reapply after five years.
The deadline for entry is noon on Aug. 17.
Applications, instructions and additional details can be found at www.dscc.com/superstarsinbusiness. Printed copies may be requested by e-mailing Kelly Wetzel at email@example.com or calling (302) 576-6564.
Winners will be judged in four different categories: companies with 1-to-24 employees, 25-to-59 employees and 60-to-150 employees. Awards of excellence will also be given to worth companies.
This year's winners will be awarded during a luncheon ceremony on Nov. 8 in the Hotel du Pont's Gold Ballroom.
Contact Jeff Mordock at (302) 324-2786, on Twitter @JeffMordockTNJ or firstname.lastname@example.org.


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There was one standout winner in the crypto market last week: Axie Infinity’s SLP, which increased by 181.6% over the last seven days. No other cryptocurrencies came close to this number, but there were many other climbers — such as SHIB (up 35%), LEO (up 22.1%), and EGLD (up 21.3%).
Meanwhile, a few cryptocurrencies experienced declines. CRV’s price decreased by 18.8%, NEAR by 18.7%, and — perhaps most surprisingly of all— SOL by 18%.
As for the biggest coins, BTC enjoyed a modest increase of 2.2%, ETH declined by 4.1% and DOG fell by 9.21% so, in other words, it’s fair to say that last week was a mixed bag. Markets are a long way from their all-time highs, but the price charts indicate investor demand is beginning to support prices at these levels.
Major NFT marketplace OpenSea is planning to open a venture capital business, and it’s already raised $300 million in a funding round in January 2022. The firm will focus on NFTs and other decentralized blockchain projects, and it will be led by OpenSea cofounder Alex Atallah. It’s also creating an organization called Ecosystems Grants to encourage growth in the NFT community.
The first NFT-linked house in the US sold for $650k through the real estate startup Propy. Although the NFT doesn’t directly represent the housing deed, it represents ownership of an LLC with rights to the house. It can also serve as collateral for crypto borrowing. Propy had previously auctioned an NFT-backed property in Ukraine in 2021, and hopes to launch more NFT property sales in the future.


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BY TC News Desk
Agartala, January 23, 2024: The Land Ports Authority of India (LPI) Chairman Aditya Mishra visited the Sabroom Integrated Check Post (ICP) on Tuesday and announced that the land port is expected to be operational within the next month. He said that the project is very important for enhancing trade and travel between India and Bangladesh.
Mishra was accompanied by LPAI Secretary Vivek Burman, LPI member Sanjeev Gupta, Border Security Force (BSF) Inspector General Piyush Patel, Purushottam Das, and BSF 96 Battalion Commandant Abhimunya Jha. They reviewed the development program of the ICP and met the Bangladesh delegation on the Maitri Setu, a bridge over the Feni river that connects the two countries.
The Bangladesh delegation included PD Ramgarh Port Sarwar Alam, CO Lt. Col. Syed Imam Hossain, UNO- Ramgarh Mamta Afrin, AC Land- Ramgarh Manas Chandra Das, OC Debapriya Das, OC Traffic- Munir Hossain, and others. They showed the blueprint of development activities of the main construction program of the Bangladesh ICP to the Indian delegation.
Mishra told the media that the work of Sabroom Land Port Authority is nearing completion and efforts are being made to inaugurate the land port as soon as possible.
He said that the land port will facilitate the movement of goods and passengers between the two countries and boost the economy of the region. He also thanked the Bangladesh government for their cooperation in the project.


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“Spread the cost of the things you want and need over time, with no hidden fees.”
“Create a world where people can live fearlessly today, knowing they’re in control of tomorrow.”
These are two of the sales pitches from some of the 20-odd Buy Now Pay Later (BNPL) services that have sprung up in Australia over the past four or five years.
In offering near-instant credit to everyday shoppers of everything from healthcare to solar panels, BNPL services have ridden the crest of a wave that coincided with the explosion in the popularity of online shopping and digital payments during the pandemic.
The Reserve Bank of Australia calculates BNPL transactions grew from $1 million in 2018 to $9 billion in 2020 and $11 billion last year, and the sector will continue to grow by 42 per cent per year, hitting an eye-watering $160 billion by 2028, according to projections by Business Wire. Soon shoppers will even be able to buy essentials such as milk, bread and fuel with BNPL services, thanks to a new deal inked between grocers IGA and FoodWorks and United Petroleum.
But all this easy money comes at a price. More than one in five BNPL customers missed payments in 2020, according to the Australian Securities and Investments Commission. The Guardian newspaper has called BNPL “just another type of debt”, while Curtin University’s School of Accounting has described it as a “deep black hole”. And as BNPL services generally charge fees instead of interest, they can operate outside regulations.
But now a new genre of BNPL-like services designed by farmers for farmers is looking to change the way farmers borrow money and take on the banks, government-backed schemes and store credit suppliers like Elders, which have dominated the space for more than 100 years.
How? By being different.
Ironing out the lumps
Banks normally take weeks or months to approve business loans. But BNPL services can turn around applications in two or three days.
Business loans from banks range in length from one to 25 years, while BNPL loans are generally for 30 to 180 days. And unlike store credit, BNPL loans allow farmers to choose amongst suppliers and negotiate from a position of strength.
“I saw this opportunity years ago when I was working in farm machinery supplies – the idea of short-term credit to help farmers iron out those lumps in cash flow and take advantage of opportunities,” says Dwain Duxson, a member of a multi-generational farming family in Victoria, who co-founded DelayPay.
“As an example, last year when we went into a big harvest we helped farmers buy new headers and bins. That’s what agriculture is about: taking advantage of opportunities.”
He adds: “Cash flow for farmers is lumpy. They don’t have the working capital they need all the time. They have crops coming but no income for months. We even out those lumps.”
DelayPay has provided short-term loans for about 500 farmers since 2018 but rejected about 50 more – or 10 per cent of all applicants. “Yes, we turn people down, but it’s not as easy as you think,” Dwain says.
“We don’t take on anyone who we think may be in trouble because it is not in our best interest to do that. We are insured by QBE and we have to get their approval for every decision,” he adds.
“Agriculture is such a small industry. Everyone knows everyone. We’re in the business of building strong, positive relationships with farmers. We’re not an app, we talk to people on the phone every day. And a lot of our business is from repeat customers. People use us again and again.”
New kid on the block
DelayPay is not the only BNPL service for farmers in Australia. Established in 2020, AgPAY has given loans of $50,000 to $1 million to about 50 farmers.
“Consumer BNPL companies such as AfterPay provide finance for purchases with four equal payments for purchasing merchandise, and the merchant pays, with no or very limited investigations into the creditworthiness of the consumer,” says AgPAY Managing Director Ben Edney.
“But what we do is fundamentally different and we are completely different from of credit. We provide a line of working capital directly to our customers and we use artificial intelligence to determine if a particular farm is in a particular area to ensure farmers are not overburdened with debt. Last year, all the farmers we helped repaid us on time.”
NSW Farmers has no policy on BNPL because the uptake among farmers is still small.
Dr Andrew Grant, a senior lecturer in finance at the University of Sydney, says as BNPL services aimed at farmers “are more badged as BNPL rather than quintessential BNPL,” they probably aren’t as risky. “These agri-lenders are much more likely to assess the risks of the borrower than typical BNPL accounts, and the borrowers should be more sophisticated because they are business owners.
“Their main edge over a bank,” he says, “is the speed with which a consumer can receive funds. And as the borrower is required to spend the money on business expenses, self-control issues should be less common. It is less impulse spending than with BNPL.”
But not all experts are so convinced.
The NSW Rural Financial Counselling Services, which offers financial counselling services around the state, has numerous clients who have been caught out by BNPL.
“It adds another element of risk,” CEO David Galloway told ABC Rural. “You’re not only dealing with interest rates and penalty payments, you’re then also hoping the livestock price holds.”
He adds: “Really make sure you’re going into it with your eyes open and are understanding of all the risks as well as the benefits.”
Dr Lien Duong, a senior lecturer in accounting at Curtin University, expresses even stronger reservations about BNPL services.
“There are some advantages such as quick approval, flexible and paperless transactions that can help farmers with their business cash flow,” she says. “However, I think it would be even riskier than BNPL consumer schemes as farmers face higher risk with climate change. If farmers cannot pay the instalments on time, there will be some penalty interest.”
AgPAY charges a 1.5 per cent application fee, 10.5 per cent interest and a penalty rate is 8.5 per cent, bringing the total interest for late payments to 19 per cent, according to information posted on the company’s website. DelayPay won’t publicly disclose the interest or late fees it charges but Dwain says the company “keeps an eye on forecasts and is always wary of climate change”.
“We all know there is going to be another drought but farmers still need to produce food. We also think farmers are better equipped now to handle drought because the last one was such a shocker,” he says.
“Their properties are worth more and they are putting away fodder and hay. They are in a better position now.”
Nevertheless, Dr Lien urges caution.
“BNPL companies are debt providers but are not regulated under the National Credit Code, so it is an unregulated industry. We are all calling for better regulation to avoid the debt spiral problem.”
If you enjoyed this feature on buy now pay later schemes, you might like our story on dairy farmers reducing energy costs.