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Market Update for June 13th
General Market News
- The U.S. Department of Labor released its May inflation numbers last Friday. The Consumer Price Index (CPI) report showed that inflation increased 8.6 percent year-over-year, coming in above analyst expectations for an 8.3 percent increase. The FOMC has been closely watching CPI for any signs of cooling inflation as we approach the 6/14–6/15 meeting, and it’s likely concerned that the numbers remain frustratingly elevated. This latest report certainly bolsters expectations for consecutive 50 basis point (bp) rate hikes at the next two meetings. It also perpetuates worries about the Federal Reserve (Fed)’s ability to engineer a soft landing as inflation persists and economic growth expectations slow. U.S. Treasury yields were up across the curve last week. The 2-year, 5-year, 10-year, and 30-year rose 15 bps (to 2.81 percent), 13 bps (to 3.07 percent), 10 bps (to 3.04 percent), and 8 bps (to 3.17 percent), respectively.
- Global equity markets sold off as a higher-than-expected inflation report on Friday led to added concerns about persistent inflation and the need for more aggressive actions from global central banks. The headline and core reports showed surprising results of 1.0 and 0.6 percent, up by 0.3 and 0.1 percent, respectively. While we’ve seen inflation for goods slow, food and energy continue to accelerate their pace of inflation as supply chain disruptions—caused by the Russia-Ukraine conflict, Covid-19 lockdowns, and weather—create a challenged supply environment. Goods have slowed as price increases of household furnishings, appliances, and new automobiles have eased. This potentially reflects some of the consumer-related results we’ve been seeing from Target (TGT) and Walmart (WMT) in recent weeks as product purchases have shifted, leading to heavy markdowns in home furnishings, appliances, and other big-ticket items. The breadth of inflation continues to pick up, which will likely force the Fed to take a September pause off the table.
- On Friday, the May CPI report was released. Headline consumer prices increased 1 percent, which was up from the 0.3 percent increase in April and higher than the expected 0.7 percent. On a year-over-year basis, consumer prices rose 8.6 percent in May against calls for an 8.3 percent increase. This marks a 40-year high for year-over-year consumer inflation, which is disappointing given calls for a potential peak in headline inflation in April. Core consumer prices, which strip out the impact of volatile food and energy prices, rose 0.6 percent during the month and 6 percent on a year-over-year basis against forecasts for 0.5 percent monthly and 5.9 percent year-over-year increases. Consumer prices have faced notable inflationary pressure over the past year, with the initial surge focused primarily on rising costs for goods. We’ve recently started to see prices for services face more sustained upward pressure, which contributed to larger-than-expected boosts in headline and core inflation.
- Friday also saw the release of the preliminary estimate of the University of Michigan Consumer Sentiment survey for June. Sentiment soured more than expected during the month and the index fell from 58.4 in May to 50.2 in June against calls for a more modest drop to 58.1. This larger-than-expected decline was due to worsening consumer views on both the current economic condition and future expectations, and it brought the index to a new record low. The primary cause for worsening views was rising concerns about inflation, as 46 percent of respondents attributed their negative views to inflation, up from 38 percent in May. The report also showed that consumer expectations for inflation increased in both the short and long term, which is a potential cause for concern. All in all, this report was another reminder of the negative impact high levels of inflation can have on the overall economy.
|MSCI Emerging Markets||–0.53%||–7.10%||–13.58%||–21.88%|
Source: Bloomberg, as of June 10, 2022
|Fixed Income Index||Month-to-Date||Year-to-Date||12-Month|
|U.S. Broad Market||–1.90%||–10.65%||–10.50%|
Source: Morningstar Direct, as of June 10, 2022
What to Look Forward To
On Tuesday, the Producer Price Index report for May is set to be released. As was the case with consumer inflation, producer inflation is expected to remain high. Headline producer prices are expected to increase 0.8 percent during the month and 10.8 percent on a year-over-year basis. Core producer prices, which strip out the impact of food and energy prices, are set to increase 0.6 percent during the month and 8.6 percent on a year-over-year basis. Producer prices have faced persistent inflationary pressure over the past year, driven, in large part, by rising material costs and tangled global supply chains. If estimates hold, this report would be another sign that inflationary pressure remains high throughout the economy despite recent efforts from the Fed to tighten monetary policy to combat inflation. Given the prospects for continued high inflation in the months ahead, the Fed is expected to focus on tighter policy throughout the year and into 2023.
On Wednesday, the May retail sales report will be released. Retail sales are expected to increase 0.2 percent during the month, following a 0.9 percent increase in April. Core retail sales, which strip out the impact of volatile auto and gas sales, are set to increase by a more solid 0.5 percent following a 1 percent increase in April. Retail sales have held up well in 2022 following a lull in sales last December. If estimates hold, this would mark five consecutive months of retail sales growth. The consistent sales growth is a positive sign for the health of the economy given the importance of consumer spending on overall economic activity. The sales growth throughout the year has been especially impressive given the headwinds created by health risks at the start of the year, sinking consumer confidence, and persistently high levels of consumer inflation.
Wednesday will also see the release of the National Association of Home Builders Housing Market Index for June. This measure of home builder confidence is expected to decline modestly during the month, with the index set to drop from 69 in May to 68 in June. This is a diffusion index where values above 50 indicate expansion, so this anticipated result would be a sign of continued growth for the home building industry. Home builder confidence had previously been well supported by high levels of home buyer demand and a low supply of existing homes for sale during the past two years. That said, we’ve seen confidence falter in 2022 due to rising material and labor costs along with signs of slowing prospective home buyer demand. Builder backlogs remain long, so new home construction should continue at a strong pace in the months ahead; however, rising mortgage rates and continued high housing costs could serve as headwinds for notably faster construction growth.
The third major release on Wednesday will be the FOMC rate decision from the Fed’s June meeting. The central bank started raising interest rates back at its March meeting, with a 25 bp hike to the federal funds rate that was followed by an additional 50 bp hike at the May meeting. Economists and markets expect to see another 50 bp hike at the June meeting. This will be a widely monitored release given the higher-than-expected consumer inflation in May and the Fed’s ability to cause potential market volatility. Looking forward, markets anticipate another 50 bp hike at both the July and September FOMC meetings, which signals tighter financial conditions ahead. Given the continued strength of the labor market and the high levels of inflation, the Fed is expected to focus on combating inflation with tighter policy throughout the rest of the year.
On Thursday, the May building permits and housing starts reports will be released. Permits are expected to decline 1.8 percent during the month, while starts are set to drop 1 percent. While both of these measures on new home construction are expected to decline in May, they are expected to remain well above pre-pandemic levels and near post-pandemic highs. Demand for new houses has started to fade given the increase in mortgage rates this year, but it remains relatively strong on a historical basis. Given the continued lack of supply of existing homes for sale, new home construction is expected, although we may see a slowdown in the months ahead due to the headwinds currently affecting the housing sector.
We’ll finish the week with Friday’s release of the May industrial production report. Production is set to grow 0.4 percent following a 1.1 percent increase in April. Hotter-than-normal weather caused utility production to increase notably, which should help support overall industrial production. We’ve also seen mining and drilling output increase with the rise in oil and gas prices. Manufacturing production is also expected to show continued growth during the month, with economists calling for a 0.2 percent increase in May following a 0.8 percent rise in April. If estimates hold, this would be the fifth straight month with increased industrial production and the fourth straight month with rising manufacturing production. High levels of consumer and business demand for manufactured goods have helped support the improvements in production we’ve seen so far this year. But looking forward, the industry is expected to face headwinds from rising prices and supply chain constraints.
Disclosures: Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. All indices are unmanaged and are not available for direct investment by the public. Past performance is not indicative of future results. The S&P 500 is based on the average performance of the 500 industrial stocks monitored by Standard & Poor’s. The Nasdaq Composite Index measures the performance of all issues listed in the Nasdaq Stock Market, except for rights, warrants, units, and convertible debentures. The Dow Jones Industrial Average is computed by summing the prices of the stocks of 30 large companies and then dividing that total by an adjusted value, one which has been adjusted over the years to account for the effects of stock splits on the prices of the 30 companies. Dividends are reinvested to reflect the actual performance of the underlying securities. The MSCI EAFE Index is a float-adjusted market capitalization index designed to measure developed market equity performance, excluding the U.S. and Canada. The MSCI Emerging Markets Index is a market capitalization-weighted index composed of companies representative of the market structure of 26 emerging market countries in Europe, Latin America, and the Pacific Basin. The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index. The Bloomberg US Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities with maturities of at least one year. The U.S. Treasury Index is based on the auctions of U.S. Treasury bills, or on the U.S. Treasury’s daily yield curve. The Bloomberg US Mortgage Backed Securities (MBS) Index is an unmanaged market value-weighted index of 15- and 30-year fixed-rate securities backed by mortgage pools of the Government National Mortgage Association (GNMA), Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (FHLMC), and balloon mortgages with fixed-rate coupons. The Bloomberg US Municipal Index includes investment-grade, tax-exempt, and fixed-rate bonds with long-term maturities (greater than 2 years) selected from issues larger than $50 million. One basis point is equal to 1/100th of 1 percent, or 0.01 percent.
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Jean Coutu Group profits up nearly C$350 million on sale of Rite Aid shares
LONGUEUIL, Quebec — Canadian retail pharmacy operator the Jean Coutu Group posted big increases in sales and profits that stemmed in large part from its sale earlier this year of much of its stake in U.S. retail pharmacy chain Rite Aid.
Jean Coutu Group reported first quarter 2013 sales of C$681.5 million, compared with C$660.6 million in first quarter 2012. The earnings boost included a C$348 million gain from its April 20 sale of 56 million shares of Rite Aid, including a C$82.8 million gain following the sale and an unrealized gain of C$265.2 million following a change in the company’s accounting method due to its loss of significant influence in the U.S. chain.
Other reasons for the boost in sales included overall market growth and an expansion of the PJC network of franchised stores. Profits for the quarter were C$397.4 million, compared with C$49.9 million in first quarter 2012, with the increase coming from the sale of the Rite Aid shares.
"We are very satisfied with the results of the first quarter of fiscal year 2013, which demonstrate the excellent performance of our operations," president and CEO Francois Coutu said. "Our network retail sales, and more importantly those of the pharmaceutical section, posted a significant increase despite the price reductions of generic drugs."
As of June 2, the company still owned 178.4 million shares of Rite Aid, equaling a 19.84% stake in the Camp Hill, Pa.-based chain with a value of C$226.2 million.
BTS season will boost retail sales, foot traffic in August
CHICAGO — Retail sales and foot traffic will see a boost in late summer as the back-to-school season looms, according to the latest ShopperTrak report.
After a sharp decline in 2009, year-over-year back-to-school sales improved only 1.8% in 2010 before increasing 4.5% in 2011, ShopperTrak noted. Year-over-year retail foot traffic percentages also have declined during the past four back-to-school shopping seasons. When compared with the same period last year, however, 2012 sales will rise 4% in August, and retail foot traffic will increase 1.5%.
"This is an important shopping period, and retailers have struggled during back-to-school seasons the past few years," ShopperTrak founder Bill Martin said. "The tide will turn for retailers this year as we forecast a 4% increase in back-to-school sales. This increase will follow year-over-year U.S. retail sales growth in 28 of the last 29 months. August will present retailers with a tremendous opportunity to take all steps possible to maximize their shopper opportunity and increase conversion rates."
ShopperTrak also said that falling gas prices in recent weeks may encourage customers to make more car trips and visit more stores than they did last year, while lower prices at the pump also may translate into additional disposable income that parents can spend on their children.
"For the last couple of years, traffic data indicated a trend toward very targeted shopping. This year, back-to-school shoppers will visit more stores and browse for the best value," Martin added. "Stores that plan ahead and keep a close eye on their foot traffic and conversion rates will be pleased with their performance this season. Those who depend on last year’s shopper turnout and behavior as a guide for their staffing and inventory plans are, however, at risk of losing out on business this year."
SXC Health Solutions changes name to Catamaran
LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions has picked a new name following its recent merger with another PBM, the company said.
SXC, which recently merged with Catalyst Health Solutions to become the country’s fourth-largest PBM by prescription volume, said it has changed its name to Catamaran. The company’s shares will be traded under the ticker CTRX on the Nasdaq and as CCT on the Toronto Stock Exchange starting Wednesday. The company said the new name would reflect its "nimble, flexible" approach to serving clients.
"Catamaran is the most viable alternative for organizations who are struggling to solve the healthcare cost challenge, and we’re eager to put our enhanced resources to work for them," Catamaran chairman and CEO Mark Thierer said. "We have the skill and scale to deliver compelling financial results and the clinical intelligence to deliver sustainable improvements in the health of members."
The merged company expects annual revenues of $13 billion, which it said would place it among the top 25 companies in the country and among the top 15 in the Chicago metropolitan area. The company will serve 25 million members and will have an annual volume of more than 200 million adjusted pharmacy benefits management prescriptions. Thierer will serve as the company’s chairman and CEO, while Jeff Park will serve as its EVP and CFO, and former Catalyst president and COO Rick Bates will serve as EVP market segments. Former Catalyst chairman and CEO David Blair will provide ongoing support to the combined company and ensure a "seamless and successful" integration.

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I hope that parents and children can be reassured by the advice that this isn’t a food safety issue, however it is frankly appalling that we have found horsemeat in two products which were supposedly 100 percent beef. These products came from manufacturers who not only carry all the correct certification but who also recently provided us with written assurances their products did not contain horsemeat.
Few if any local councils across the country have been as proactive as we have in testing their school meals and unfortunately the results show we were right to act on the concerns raised by what has become an international scandal.
Under the circumstances, with children returning from their half term break today, we feel we have no choice but to withdraw all frozen processed beef products as a precaution until the food industry and regulators do something to restore confidence in what people are being fed.
More top news
Some of the children at the Royal Free Hospital in London were less than impressed with their visit from Alex Oxlade-Chamberlain.
A showery and chilly night but mainly frost free. Sunshine and wintry showers Saturday morning, easing a little by afternoon
Although we're not looking at a widespread snow event, confidence is rising that a cold, showery theme will develop by Christmas Day......


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Investors want Etsy to start getting craftier.
Shares of the online arts-and-crafts marketplace fell 13% Wednesday, to $11.27, despite a third-quarter revenue figure that beat estimates. Profits met expectations, and the company even raised its outlook for the full year.
There was other good news, as well. Users are doing more on the site. Some 27 million people have bought something from Etsy in the last year, up 20% from a year ago, plus more artists are making sales. On a conference call, Etsy managment pointed out that sellers are converting from free trials to paid versions of the company’s “seller services.” Aside from facilitating the sale of handmade goods, Etsy also provides products that help sellers manage their accounting, as well as advertise on Google.
But investors don’t care much about the past -- even the recent past -- and Esty isn’t growing as fast as it once was. The growth in active buyers and sellers has started to decelerate, notes RBC’s Andrew Bruckner, who rates the shares at the equivalent of “Hold.” And while there’s an uptick in what people spend on the site, the growth in that important metric has slowed, as well.
Etsy also announced that chief financial officer Kristina Salen is leaving the company in March. Losing a CFO – the executive closest to financial figures -- is usually received poorly by investors. This might be the time for Etsy to think outside the box and find new ways to grow.
Big Picture: Etsy’s earnings were fine, but the company will have to innovate more to prevent a looming slowdown in growth.


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Henric Ungh, an international sales professional, has been appointed the new CEO of Smart Refill
Smart Refill, based in Helsingborg, a leading provider of web-based and mobile solutions, has appointed Henric Ungh as the new CEO. Prior to his new assignment Henric was the global Sales Director at the Malmö based telecom company Doro. Before joining Doro, Henric held senior positions within Sales and Marketing at Sony Ericsson, Ericsson and Siemens, in Germany and England. Henric assumes the CEO position on November 5.
Since its start in 2006, the Swedish development company Smart Refill has had a steady growth path in telecom and fintech. In 2017, Smart Refill reached 668 MSEK in turnover. The ambition is to accelerate the expansion of the company, both in Sweden and internationally.
- Smart Refill is a tremendous company with a much sought after offering, in a digital age. An age when operators, banks and consumers expect swift and secure services in their daily mobile life. With Henric onboard we very much look forward to the launch of an even stronger and more international company, says Git Sturesjö Adolfsson, Vice President BGA Invest, main owner Smart Refill.
With many years of leading sales positions at Sony Ericsson in Sweden, Germany and England, aside being the VP Sales at DS Smith and Doro, Henric Ungh has a solid track record of driving national and international sales and expansion.
- I am a passionate leader, focusing on strong teams and costumer needs. Smart Refill is a great company with sought after, ground breaking, and secure mobile services. This industry is truly exciting and the possibilities are infinite in the digital age we live in. Triggered by my personal mantra to always go the extra mile I look forward to teaming up with my new colleagues and take Smart Refill to the next level through innovative and secure services driving growth and international expansion, says Henric Ungh, CEO Smart Refill, as of November 5.
Smart Refill is an expansive development company, providing mobile services with a special focus on secure payment, information and concepts for telecom and the fintech sector. Smart Refill’s operations focus on white label solutions, combining business development with technology and security. Smart Refill is fully owned by BGA Invest.
For additional information:
Henric Ungh, CEO Smart Refill AB, firstname.lastname@example.org
Git Sturesjö Adolfsson, Vice President BGA Invest AB, email@example.com
Smart Refill develops smart mobile and web-based services that make life a little simpler for everyone. We are PCI Level 1 certified and work with financial institutions, mobile operators and other companies handling sensitive information. Some of our clients are Telia, Halebop, Nowo, Handelsbanken, Skandiabanken, Didner & Gerge, and Shanghai Commercial & Savings Bank


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NEW YORK - A wine industry group is warning winegrape producers in California that stagnating wine shipments are leading to growing inventories.
That could lead to lower prices for consumers.
The Allied Grape Growers (AGG) group says the growing trend has reached a "breaking point" as it relates to the amount of unsold inventory.
The USDA estimated the 2019 winegrape yield at 4.2 million tons, 2% less than 2018 but still higher than the historical average.
In a newsletter to its members, AGG said that tens of thousands of winegrapes were left hanging on the vines in California because there were no buyers willing to pay for them.
An industry wine blog quoted an unnamed official from a trade group who said that wine prices will be coming down in 2020.
"When you have too many grapes, which we do, and flat demand, which we do, wine prices come down," he told the Wine Review.
And Australian winemaker Treasury Wine Estates' stock was recently hammered after it said it had to heavily discount wines in the United States because of a glut. Its brands include Beringer, Penfolds and Stags' Leap Winery.
California produces about 80% of the nation’s wine, and if it were a country, it would be the world’s fourth-largest wine producer.


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In a TikTok post last month, the singer Halsey shared a message with fans: “basically i have a song that i love that i want to release ASAP,” the musician wrote, “but my record label won’t let me.” Despite eight years in the music industry and over 165 million records sold, Halsey said, “my record company is saying that i can’t release it unless they can fake a viral moment on tiktok.”
Several other artists had recently expressed similar frustrations with labels forever chasing the next “Old Town Road” or “Drivers License” — singles that took off on TikTok and climbed the Billboard charts. “All record labels ask for are TikToks,” FKA twigs wrote in a since-deleted post on the platform. Florence Welch, Doja Cat and Charli XCX have also referred to their labels’ TikTok fixations. (A little over a week after Halsey published the TikTok video, which became its own “viral moment,” Capitol Records announced in a Twitter post addressing the artist that it was “committing to a release of ‘So Good’” on June 9. “We are an artist-first company that encourages open dialogue,” the label said in a statement. “We have nothing but a desire to help each one of our artists succeed, and hope that we can continue to have these critical conversations.”)
Complaints from recording artists about promotional demands are as old as the music industry itself, and they have often played out in public feuds. But these recent grievances aren’t targeted at the labels themselves. They are direct appeals to fans (in Halsey’s case, 4.6 million of them on TikTok). And while they describe highly specific scenarios — world-famous artists in disputes with their labels over marketing strategies — they also evoke an experience familiar to just about anyone with a presence on social media, where aspects of the experience of fame have been formalized and made available to everyone.


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March 19, 2013
US imposes heavier anti-dumping tariffs on Vietnam catfish
The US Department of Commerce (DOC) has imposed another round of anti-dumping tariffs on Vietnamese catfish, at 10 times more than the previous ones.
As a result, the Directorate of Fisheries of Vietnam (D-Fish) is considering, suing the DOC in a US federal court, for unfair calculation methods.
"We will continue to pursue justice against such an irrelevant and unreasonable tax for the sake of Vietnam's pangasius industry," the Vietnam Association of Seafood Exporters and Producers (VASEP) said.
Nguyen Hoai Nam, deputy general secretary of VASEP, said Vietnam has about a week to change the DOC's decision before it gets published in the Official Gazette (OG), the official journal of the US Patent and Trademark Office (USPTO) under the DOC.
VASEP and Vietnamese catfish exporters are working to protect the catfish industry through legal means and requesting that the DOC change its final decision of the eighth preliminary results of administrative review (POR8) under US laws as well as the agreement of the World Trade Organisation (WTO).
In its final determination released last week, the DOC selected Indonesia as the reference country for calculating anti-dumping duties on frozen fish fillets from Vietnam.
Indonesia is now the country of reference even though, in the last administrative review, the DOC had argued against Vietnam's choice of Indonesia as the third country for reference to calculate input costs of pangasius production as Indonesia lacks good price data and basic financial parameters, said VASEP. Indonesia is also a net importer of frozen tra fillets, mainly from Vietnam, and does not export any.
VASEP said the DOC's decision was influenced by the Catfish Farmers of America (CFA), and this has posed questions about the fairness of the review process.
Therefore, VASEP has required the DOC to revise its final decision to correspond with the preliminary administrative review decision announced on September 12, 2012, under which all 18 Vietnamese firms exporting tra fillets to the US would be exempted from anti-dumping taxes. This will make DOC's decision consistent in the use of Bangladesh as the country of reference, which was the case before the DOC uses Indonesia.
Local catfish processors are about to lose access to the US market due to significant rise in anti-dumping tax rates recently announced by the DOC, said Truong Dinh Hoe, general secretary of VASEP.


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Steve Jobs is perceived to be a perfectionist—one as demanding as they come. Because of this, every detail of everything Apple is beyond important. His keynotes changed how tech products launch, and his stores and branding changed how they’re marketed. He truly believed his products were changing the world (they were), and that’s why everything Apple is a big event.
The best example of this is when a new iPhone becomes available in stores. Every time—with today being no exception—people camp out for days outside of Apple stores worldwide in hopes of being among the first few to get their hands on the newest version. The camping for the iPhone 6 began a week before the phone was even announced. Reporters and photographers rush to the lines to photograph what can only be described as a spectacle. By early this afternoon, Getty had already published a photo series of people camping out for their iPhone 7s and physically jumping for joy after finally buying them. While this rings true at Apple stores all over the world, there’s at least one where the excitement and aspect of a grand reveal that Jobs loved so much is missing.
At the Apple store in Viborg, Denmark’s second-largest municipality, only two people appeared to be in line for the grand opening of the iPhone 7. That doesn’t sound too awful, but as can be seen in the above GIF—which has been viewed almost 200,000 times on Imgur—the two-person line looks pretty hilarious against the celebratory backdrop of balloons and a red carpet. And the store employee—who was definitely expecting a crowd—popping the gold confetti onto the two unenthusiastic iPhone 7 seekers is just the icing on the cake.
If Steve Jobs could see this, we’re sure he’d be cringing.


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The U.S. recovery is foundering, but one unloved part of the economy is showing signs of a comeback.
American factories are booming. Industrial production is the strongest it's been in a quarter century. Five of the 10 biggest companies on the Standard & Poor's 500-stock index earn money from making things. Manufacturers are on track to increase their payrolls this year for the first time since 1998.
There are several reasons for the turnaround, among them higher fuel prices, which are causing some U.S. companies to close their Asian assembly plants in order to bring that work closer to home. But the most important factor is a surprise to many. The renaissance in U.S. manufacturing is the result of something that is taken for granted in countries such as Canada, Germany and South Korea: exports.
The U.S. gave birth to industrial powerhouses such as General Electric and Caterpillar Inc., but it's historically been a relatively lousy exporter.
The world's biggest manufacturer, the U.S. accounts for 21 per cent of global factory wealth, according to the National Association of Manufacturers. But most of that production is sold at home. The percentage of U.S. factory output that is shipped abroad is only 45 per cent of the world average. Twelve nations rank higher; nine of them - including Taiwan, Germany, South Korea, France and Canada - export in excess of the global average.
U.S. factory owners were spoiled by being surrounded by the most voracious consumers on the planet.
"We've got enough growth opportunity in the U.S., why would we invest outside the U.S.?" said David Roberts, recalling management's attitude at Charlotte, N.C.-based Carlisle Cos. Inc., before he was named chief executive officer four years ago. "Through the late 90s and early 2000s, the markets were great. There was no reason to look anywhere else."
The value of U.S. exports rose 20 per cent in 2010 from the previous year to reach $1.3-trillion (U.S.). That's more than double the $612-billion of goods the United States shipped abroad in 1996. The latest trade data show that trend continues to gather strength. The Commerce Department reported Tuesday that U.S. companies exported goods worth $125-billion in May, the second-highest ever after the record $127-billion set in April.
Exports are growing faster than imports, shrinking the current account deficit - the gap between the value of money and assets leaving the U.S. and the value of money and assets entering the U.S. - to about 3 per cent of gross domestic product.
The shift in that deficit shows that even though the rebound from the recession is slow, the economy is dramatically more stable than it was in 2006, when the gap was 6 per cent of GDP.
Some economists warned at the time that the U.S.'s trade deficit had grown dangerously wide, exposing the economy to an external shock. Those economists were proven right. The U.S. current-account deficit, which in 2006 was almost double that of its nearest peer in the Group of Seven countries, is now in line with Italy and Canada, according to the International Monetary Fund.
The U.S. owes much of its new-found stability to manufacturers, which account for about half of the country's exports. The decline in the dollar has been an important contributor to the reversal, making U.S. goods cheaper in fast-growing markets such as Brazil and China. But the real spur for export growth is survival.
The U.S. economy is roughly the same size as it was in 2007, reflecting the severity of the decline suffered in the recession and the weakness of the recovery.
Americans now are setting aside about 5 per cent of their incomes, compared with a savings rate of about zero before the recession. That suggests a shift in consumer psychology that will translate into less demand. For most manufacturers, the only way to meaningfully boost sales is to start seeking customers abroad.
When the U.S. economy collapsed at the end of 2007, most U.S. manufacturers had nowhere to turn. But Carlisle's shareholders got lucky. When Mr. Roberts took over as CEO in June of 2007, he decided to break the company out of its shell. The financial crisis took its toll on the company, a diversified maker of construction materials, tires, electronic cables, brakes and cafeteria dishes. But without a steady growth in international sales, the blow would have been far worse.
"Recognizing that dynamics [in the U.S.]would change is the reason we elected to become more global," Mr. Roberts said. Sixteen per cent of Carlisle's roughly $2.5-billion in sales are international, a figure Mr. Roberts wants to increase to 30 per cent as the company seeks to double sales over the next few years.
That mirrors the target of another CEO: President Barack Obama, who last year set a goal of doubling exports over the next five years.
With little political room to enact further fiscal stimulus that some economists say is desperately needed, the President has become something of a corporate motivational speaker, cheering a revival of Made in the USA campaigns. Last year, the White House introduced the National Export Initiative, which involves leading U.S. companies to new markets and boosting export finance. Last July Mr. Obama established the President's Export Council, which includes 20 executives, including group chairman, Boeing Co. CEO James McNerney. The U.S. Export-Import Bank authorized record funding in 2010. Administration officials led a record 35 trade missions in 2010.
"We as a nation have often ignored trade in the past," Peter Perez, deputy assistant secretary for manufacturing at the Commerce Department, said at an event in Washington earlier this year, emphasizing his point by saying that only 1 per cent of U.S. small businesses export. "A 100-per-cent focus on North America is no longer viable."
To meet Mr. Obama's goal, exports will have to grow at an annual pace of 14 per cent - or double the average of the last 30 years. Currently, U.S. exports are on target, but many economists are skeptical that pace can be maintained. It's one thing to talk about boosting exports, it's quite another to adapt to foreign accounting rules, adapt products to meet various regulatory standards and recruit new business partners.
Andrew Schuman, chief executive officer of Denver-based Hammond's Candies, knows there are huge opportunities overseas. Without trying that hard, he's added customers in the Middle East, Italy, Britain and South Korea simply by setting up at trade shows. Exports represent about 15 per cent of sales of about $10-million. The bulk of Hammond's international shipments of its Candy Canes and other treats go to Canada.
Mr. Schuman has no plans to push harder for international sales - for now. "We can grow working business in our own backyard," he said. "Our goal is to build a $25-million company and take it from there."


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Nautical, an art show onboard the Spirit of Bermuda, took place this weekend, offering a unique maritime twist on an art exhibition. A spokesperson previously said, “This is a fundraising show to raise awareness for art and sail. Proceeds from sales of ‘Nautical’ will go towards the Bermuda Arts Centre and the Bermuda Sloop Foundation, […]
Microsoft’s Surface Duo, a dual-screen smartphone featuring a 360° hinge, has struggled to gain traction among consumers despite its innovative design. The device, which can adapt to various modes of use including book, tent, compose, and single screen, has been praised for its thin and light design and revolutionary hinge. However, the Surface Duo has […] Read More: Microsoft patents Galaxy Flip-like device with a foldable display and a 360-degree hinge
Now Red Sox fans can have access to their favorite baseball team like never before. NESN will produce a live feed of Boston’s batting practice prior to the series opener against the New York Yankees at Fenway Park, exclusively available on NESN 360. The first live stream will air at roughly 4:30 p.m. ET, weather […]
Ultimate Ears has launched the EPICBOOM, a rugged portable bluetooth speaker with immersive sound and 17 hours of battery. Pitched as a party and outdoor speaker, it’s designed to play loud but also clear, thanks to its auto EQ feature.
Made an explosive claim with James Graham on The Bye Round Podcast Anasta made her NRL debut for the Bulldogs in 2000 and moved to the Roosters in 2006 Has made a successful transition to television and is also a leading player agent By Andrew Prentice for Daily Mail Australia Published: 00:20 EDT, September 15, …
Rugby league identity Braith Anasta could be in hot water after stating in a podcast with James Graham his belief that the Sydney Roosters were cheating the NRL salary cap in the early 2000s.


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With its latest CD, Seventeen Days,
Three Doors Down have reached new success. The band's third CD debuted at number one on Billboard's album charts this latest week. The highest debut ever for the Mississippi group, the rock outfit has sold nearly 9 million albums worldwide since its debut recording was first released in 2000.
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One of the hallmarks of a Steve Jobs keynote was the "one more thing" he often unveiled at the end of a presentation. This closing flourish depended on the element of surprise, and so it only worked because Apple was an extraordinarily secretive company.
Tim Cook has pledged to continue that legacy. "We're going to double down on secrecy on products," Jobs's successor as chief executive said at a conference last year.
But if Tuesday's announcements are any indication, Cook hasn't succeeded. In her rumor roundup, posted a few hours before Cook's keynote, our colleague Hayley Tsukayama predicted that Apple would unveil iOS 7, the iPhone 5S and the iPhone 5C. She reported that the new iPhone would include a fingerprint scanner.
She even got the colors right. She knew Apple would add gold to its traditional white and black color options for high-end phones. And she wrote that the company is "expected to release the 5C with a variety of candy-colored backs."
Indeed, the biggest surprise during the presentation was a negative one: The price for the iPhone 5C was higher than analysts had predicted. Hayley suggested that the iPhone 5C would cost about $500. Other analysts predicted that the price would be closer to $400. The actual price was $549.
This seems like a sign that Apple is becoming a normal company. In normal firms, product announcements routinely leak to the press ahead of their official release date. Many deliberately leak product details to sympathetic journalists. Without Steve Jobs's charisma and obsessive attention to detail, Cook simply may not be able to replicate the almost cult-like secrecy of Apple under the late co-founder.
In the short run, this probably won't matter. If the new products are good, plenty of consumers will buy them. But without the element of surprise, Apple's keynote ritual will likely lose much of its luster in the long run. Why should anyone hang on Tim Cook's every word when they can read all the details of Apple's product plans in the previous day's Wall Street Journal?


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Maruti Suzuki will officially launch the S-Presso cross-hatch in India on September 30. This new model is expected to be a production version of the Future S concept that the carmaker had showcased during the 2018 Auto Expo.
Maruti has been quite tight-lipped about details of the new S-Presso cross-hatch. However, a recent report on popular automotive forum Team-BHP reveals a few details about the upcoming car from Maruti. According to the said report, Maruti will start teasing the S-Presso India launch from the first week of September. The report also confirms that the Maruti S-Presso will be launched in India as an entry-level model, but will come with some aggressive SUV-like design elements to attract young buyers.
Some other details surfacing from the Team-BHP report mention that the cross-hatch will come with a dynamic centre console with the speedometer console located in the middle of the dashboard. Also, the S-Presso will be a fairly tall vehicle, which will not just aid its SUV-like looks, but also help make the ingress and egress easier. This will also result in best-in-class ground clearance.
We aren’t yet sure about the powertrain options that will be made available with the Maruti S-Press. However, the car is expected to get a 1.0-litre, three-cylinder petrol engine. This will be mated to either a 5-speed manual or an AMT automatic gearbox.
Once launched, the Maruti S-Presso cross-hatch will be sold through the company’s regular Arena dealerships. It will compete against the likes of the Renault Kwid and Datsun redi-GO.


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L.A. Cellular changes its name to AT&T Wireless today and introduces its popular AT&T Digital One Rate program to Southern California. AT&T Wireless Services, a part-owner of L.A. Cellular for many years, recently assumed day-to-day management responsibility for the market, as well as naming rights. The Southern California wireless market is the nation’s second largest, and represents a key strategic addition to AT&T’s network.
“Southland customers will be able to use their AT&T Wireless phones in more than 7,500 locations in the North America,” said Dan Hesse, president and CEO of AT&T Wireless Services. “With the addition of Southern California to our wireless coverage, we’ve made a major step toward providing AT&T customers the ability to use their wireless phones across the Unites States and Canada.”
AT&T Digital One Rate
Across the country, AT&T has revolutionized wireless calling with its AT&T Digital One rate service, where every domestic call is like a local call, with no roaming charges and no long distance charges in all 50 states (credit card calls excluded). AT&T Digital One Rate provides three calling plans – up to 600 minutes for $89.99 per month, up to 1,000 for $119.99 and up to 1,400 minutes for $149.99. Additional minutes in excess of plan minutes are priced at just 25 cents per minute. This innovative plan, already popular in other AT&T Wireless markets is expected to be equally well received by highly mobile road warriors in Southern California.
Seamless Transition with Services for Every User’s Needs
Current L.A. Cellular subscribers will receive a letter advising of the changes and will experience no interruption in service. The new plans represent money saving changes to previous L.A. Cellular pricing plans. In addition to the three new AT&T Digital One Rate plans, customers may choose from other digital as well as analog plans according to their needs. Current basic analog plans start at $19.99 and include 10 free minutes per month with 500 free weekend minutes. Entry level monthly AT&T Wireless digital plans start at $19.99 including 30 minutes per month with 500 free weekend minutes and a promotional price of $10 for the first three months. AT&T Wireless pricing plans compare favorably with offerings from all significant competitors, including Airtouch, Pacific Bell Mobile Services, Sprint PCS and Nextel. In markets where AT&T Digital One Rate has been implemented, it has changed the way people think about wireless communications. Many users now rely on their AT&T Wireless handset as the primary communications tool over traditional wired phones in the home or office.
AT&T Wireless Services Profile
AT&T Wireless Services, Inc. (AWS), a wholly owned subsidiary of AT&T (NYSE:T) operates the largest digital wireless network in North America. AWS is a leading provider of wireless communications services throughout the United States and in its international ventures.
AWS provides wireless service to more than 9.7 million customers, which includes 5.1 million Digital PCS customers. Digital PCS is based on TDMA (Time Division Multiple Access) technology, the most widely used digital technology in the United States. More than 7,000 cities in North America and many countries around the world are connected through the company’s Global Wireless Network. Coverage extends to over 95.8 percent of the U.S. population.
Popular New Handset
In conjunction with the launch of AT&T Wireless Digital One Rate, AT&T has made the new Nokia 6160 series Digital multi-network phone available to customers in AT&T Wireless markets nationwide. One of the most important new features is a standard battery which provides up to an unprecedented 200 hours (8 days) of standby time. In July, a new battery will become available which will provide up to 335 hours of standby time. This new tri-mode handset will operate anywhere within AT&T’s network where subscribers can encounter standard analog (AMPS) service, 1900 MHz digital (TDMA) or 850 MHz coverage. In addition, the less than 6 ounce palm-size Nokia 6160 series phones provide user-friendly features that include a large backlit display, calendar, clock and calculator functions, 199 name/number directory, the ability to store and call back senders of text or numeric messages and four entertaining games.


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Caught out by the cowboy locksmiths: Lockdown families are being targeted by a new breed of rogue trader… and they're giving key workers a bad name
- More than 800 complaints made about rogue locksmiths over the past year
- In two thirds of cases customers are being overcharged by £200 or more
- Experts say the racket has reached an 'industrial scale' due to the pandemic
- In one example, a locksmith quoted a price of £49, but final bill came to £1,604
Homeowners are being scammed out of tens of thousands of pounds by a wave of rogue locksmiths who 'bully' their victims into submission.
Families are being warned against a new crop of cowboy tradesmen who promise quick-fix jobs before threatening to lock people out of their homes if they don't pay extortionate bills.
Online giant Google is profiting from the scams by promoting the conmen through paid-for advertising, it is understood. One rogue company is believed to be paying to be promoted on the tech firm's search results.
Trade body the Master Locksmiths Association (MLA) has received more than 800 complaints about rogue or fake locksmiths over the past year — and in two-thirds of cases, customers are being overcharged by £200 or more.
Families are being warned against a new crop of cowboy locksmiths who promise quick-fix jobs before threatening to lock people out of their homes if they don't pay extortionate bills
Experts say the racket has reached an 'industrial scale' due to the pandemic.
The trade is unregulated and professionals are now demanding protection for cheated homeowners.
Fraudsters typically use a tactic known as 'bait-and-switch', in which they quote a cheap call-out price before ultimately charging ten times that of a regular locksmith.
In one example, a locksmith quoted an initial price of £49, but the final bill came to £1,604.
Conmen often intimidate homeowners into paying up or withhold keys to locks they've already fitted.
Jane Mason, 45, was scammed out of £1,000 for a botched new lock, which she now has to replace to maintain her home insurance. Standard prices for changing or replacing a lock are around £100.
Jane, who owns a fashion recruitment business, had wanted a new lock before she moved into her new home in Surrey.
Inquiries that are diverted to a call centre and not answered by a locksmith are also red flags because details about who will be doing the job are harder to obtain
After an online search, she contacted what appeared to be a local, family-run firm and booked two days in advance.
She gave her mother-in-law, Irene, £200 to pay for the job while she was helping her move home. But the locksmith gave Irene an invoice for £1,000, which didn't include a breakdown of costs.
The locksmith demanded instant payment and - intimidated by their behaviour - Irene, 69, paid by credit card.
When Jane contacted the company to ask for her money back, she was told 'all the prices are told by our locksmiths in advance', which was not the case.
Jane says: 'My mother-in-law is no shrinking violet, but even she was scared and felt like she had no choice other than to pay.
'This company shouldn't be allowed to get away with charging such extortionate amounts for a simple lock change.'
Irene's credit card company has returned her money.
Peter Winyard, a locksmith from Gerrards Cross, Bucks, says there has been 'a surge in scam stories from people who have been well and truly ripped off by drill-happy pseudo-locksmiths'.
He adds: 'They strike quick, lie, and bully their victims into paying extortionate amounts for ridiculously poor service.'
Winyard says he came across one job in which a female victim had been locked out of her home with her baby still inside.
The mother called a 'locksmith', who promised an immediate response, but after more than an hour realised she had been lied to and called Winyard.
He says: 'I arrived five minutes later, opened the door and was tidying up when the "locksmith" turned up.
'He was a large and very intimidating man and - following a heated argument - it was only after my threat of calling the police that he left the property. I can imagine how a lone victim is bullied into paying up.'
He adds: 'It's about time the UK locksmith industry got some strict regulations in force. There's always been a rogue element, but it's on an industrial scale now.
'The best way to get a decent locksmith is to use the Master Locksmiths Association website, but most people don't have time to do that, especially if they're locked out - and that's when they're vulnerable.'
Steffan George, managing director of the MLA, says the lack of regulation means it's easy to set up as a locksmith with no training, experience or insurance.
He adds: 'There are already hundreds of uncertified people working in the industry.'
The MLA believes the pandemic may have caused a spike in activity as cash-strapped homeowners are tempted by bargain prices and unemployment pushes people towards unscrupulous activities.
It says homeowners should be wary of locksmiths quoting unusually low prices, being vague about experience and how they'd carry out the work.
Inquiries that are diverted to a call centre and not answered by a locksmith are also red flags because details about who will be doing the job are harder to obtain.
Dodgy locksmiths should be reported to Action Fraud.
A Google spokesman said: 'We take dishonest business practices and misleading ads very seriously and consider them to be an egregious violation of our policies. When ads do not comply with our policies; we take immediate action to remove them.'
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In the trade dispute between the world’s two largest economies, could China have found its trump card — the humble soybean?
In retaliation to United States President Donald Trump’s plan to impose high import duties on Chinese steel and aluminium imports, China has threatened to retaliate with similarly high duties on 106, mostly agricultural, US imports, such as pork, maize and soybeans. It’s aimed to hit Trump where it hurts most — his core constituency.
Iowa, Nebraska, Indiana and Missouri are major producers of soybeans — the most valuable export to China last year — and all states voted for Trump in 2016. Iowa, for one, for the first time in 35 years, planned to plant more soybean than maize, but now farmers are concerned; the planting season in the Midwest and Delta regions begins this month. The farmers, have begun to lobby against the US trade policy. And Republican representatives in agriculture-producing states are torn over how to handle the matter.
Experts anticipate retaliatory duties on soybeans will be devastating, though Trump has said he will “make it up” to the farmers. He has threatened to impose duties on a further $150-billion worth of Chinese imports.
The US and China soybean markets are closely linked, Wandile Sihlobo, an agricultural economist and the Agricultural Business Chamber’s head of agribusiness research, says in a note.
“Firstly, China is the world’s leading importer of soybeans. The key underpinning factor behind the country’s appetite for soybeans is the growing demand from the animal feed industry. Secondly, China is the leading market for US soybeans exports.
“From the US perspective, China is an important market for soybean, accounting for an average share of 45% of all soybean exports in the period between 2001 and 2017. Over this period, the US exported an average annual volume of 31-million tonnes of soybeans to the world,” Sihlobo says.
According to data from the US department of agriculture, China’s soybean imports for the 2018-2019 financial year could reach 97-million tonnes — a 64% share of global imports, Sihlobo says.
The other leading suppliers of soybeans to China are Brazil, Argentina (usually the key supplier) and Uruguay. South Africa is a net importer of soybeans and soybean products, Sihlobo says.
“In the near term, the impact of the ongoing US-China trade dispute will be limited to the local soybean market, with the exception of the influences through the Chicago soybean price volatility,” says Sihlobo, referring to the agricultural derivatives prices, which are set by the Chicago board of trade but used as a benchmark internationally. Already the news of China’s retaliation last week saw soybean futures drop in price.
There are two disputes going on, according to Donald MacKay, a XA International Trade Advisors and Stratalyze director. “Trump’s official position is ‘the US has a huge trade deficit and this thing is a problem’ … there are a lot of questions around whether there is logic to that.”
Dave Mohr and Izak Odendaal, Old Mutual Multi-Managers investment strategists, say in a note that the record trade deficit is not a sign of US economic weakness but of strength, as improving domestic demand draws in more imports. US exports are also at record high levels.
Given how globally integrated the world is, by blocking imports from China, imports from other nations are likely to surge and so would do nothing to reduce the deficit.
Separately, there is a dispute over intellectual property. As part of a company’s investment into China, it must hand over its intellectual property, which the US is decrying.
“I don’t think this is simply going to disappear,” MacKay says. “China finds [itself] in a very difficult position if you look at the instrument the US chose to use.”
Instead of implementing duties in the way most nations do, Trump has made use of section 232 of the Trade Expansion Act of 1962, a Cold War tool that allows the US government to evaluate the effect of imports on national security. It has only been used in a handful of cases, Mackay says.
Although duties to block cheap steel on a product-by-product basis have been employed before, this is much broader, MacKay adds. It appears to be part of a bigger strategy, according to which “not only are the Chinese evil, so is the
WTO [World Trade Organisation]. Trump has problems with the WTO, and his using an instrument [that] doesn’t fit neatly in the WTO is like thumbing his nose at the WTO.”
The WTO is a rules-based system that favours smaller traders and prevents economic and diplomatic powerhouses from exerting undue pressure on others to get what they want. “And Trump doesn’t like that,” MacKay says.
Trump’s use of this instrument, which will come into effect in June, appears to contravene the WTO rule and, although China may take the matter to the WTO, “it will take far too long to resolve, [so] the odds of them not retaliating are very slim,” MacKay says.
Mohr and Odendaal say it is too soon to suggest that a full-scale trade war is looming. “There is still plenty of time for the two sides to iron out an agreement.
“Within each country, there are also powerful interest groups who would want to maintain the status quo.”
Although the US’s action on steel and aluminium is targeted at China, it affects the world, MacKay says. States can apply for an exemption and South Africa has done so.
Business Insider reports some organisations, such as Wesgro, the Western Cape investment agency, believe some South African agricultural exports, including wine, will benefit from China’s proposed taxes on certain US goods.
MacKay says, with US beef also in the firing line, South African beef stands to benefit because of an agreement signed last year. But, on balance, globally, a trade war will be negative. Already the JSE has taken a knock. The share price of the largest company on the board, Naspers, dropped because of its extremely lucrative stake in the Chinese internet company TenCent.
Markets tend to sell first and ask questions later, say Mohr and Odendaal. “The decline in market value of global equities has been in excess of $1-trillion since the tariff spat began, clearly an overreaction. Looking ahead, with each successive tariff announcement, the surprise factor will be less and market response should be milder.”
Nobody is able to assess the potential effect. “All the steel and aluminium travelling between China and the US will have to end up somewhere,” MacKay says, as will all American and Chinese exports blocked by either party.


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Kirk Cousins $60 million $58 million $2 million NFL 10.
Adidas is celebrating its 25th year as the official footwear and apparel supplier partner of the Boston Marathon with new race footwear and apparel, including the adistar Boost and adizero Adios Boost.
Fan voting continues through Dec.
5 • Super Bowl LVIII Mercedes-Benz Superdome New Orleans Feb.
said today that an increasing number of positive COVID-19 cases and student-athletes in quarantine over the past week would result in the cancellation of the Saturday, Dec.
Carson Wentz $59 million $55 million $4 million NFL Upcoming Super Bowl Games • Super Bowl LV Raymond James Stadium Tampa Feb.
The survey involving James, Bosh and Wade was conducted July 17, 2010.
15 Boston vs.
I expect all 3 QBs to be on the 53-man roster this season.
FIBA said it would be the first international sport federation to officially ban the vuvuzela from all of its events.
The campaign will focus around a digital call-to-action effort directing basketball fans to share posts and stories on how they will honor the game and the 125th anniversary of basketball.
Nick leads the charge up front because he’s in charge of a lot of the calls and things like that.
Dickies Facebook fans will then vote for the grand prize winner from the pool of weekly winners Oct.
Each club nominates one player.
Big left arrow icon Big right arrow icon Close icon Copy Url Three dots icon Down arrow icon Email icon Email icon Exit Fullscreen icon External link icon Facebook logo Football icon Facebook logo Instagram logo Snapchat logo YouTube logo TikTok logo Spotify logo LinkedIn logo Grid icon Key icon Left arrow icon Link icon Location icon Mail icon Menu icon Open icon Phone icon Play icon Radio icon Rewind icon Right arrow icon Search icon Select icon Selected icon TV icon Twitter logo Twitter logo Up arrow icon User icon Audio icon Tickets iconAdd to calendar iconNFC icon AFC icon NFL icon Carousel IconList ViewWebsite InstagramTwitterFacebookSnapchatShop IconProfile Overlay AvatarAddAirplayArrow LeftArrow RightArrow UpArrow DownAudioBack 5sBack 10sBack 30sCalendarChartCheckDownLeftRightUpChromecast OffChromecast OnCloseClosed CaptionsBench OffBench OnBroad OffBroad customize your own jersey OffVertical OnCommentDockDoneDownloadDraftFantasyFilterForward 5sForward 10sForward 30sFull Screen OffFull Screen OnGamepassGamesInsightsKeyLeaveLiveCombineDraftFantasyMenu GamesMenu NetworkMenu NewsMenu PlayoffsMenu Pro BowlMenu ShopMenu StandingsMenu StatsMenu Super BowlMenu TeamsMenu TicketsMenuMore HorizontalMore VerticalMy LocationNetworkNewsPauseplayMultiple PlayersSingle PlayerPlaylistPlayoffsPro BowlPurgeRefreshRemoveReplaySearchSettingsShare AndroidShare Copy URLShare EmailShare FacebookShare InstagramShare iOSShare SnapchatShare TwitterSkip NextSkip PreviousStandingsStarStatsSwapTeamsTicketsVideoVisibility OffVisibility OnVolume HiVolume LowVolume MediumVolume MuteWarningWebsite Caret downCaret upAt.
Footballs are not permitted into the stadium on gameday or at any other stadium event.
Together, we will write the next phase of this exciting sports activity and foster high-performance teams.
Cristiano Ronaldo $105 million $60 million $45 million Soccer 3.
This feature is not available for Android users, but is coming soon.
Over 20 years the Patriots offense was built around Tom Brady’s ability to recognize defenses and get the ball out quick.
This decision was made after conversations with medical experts, health department officials and university administration.
Tiger Woods $62 million $2 million $60 million Golf 9.
Roger Federer $106 million $6 million salary winnings $100 million endorsements Tennis 2.
• Kansas City Chiefs QB Patrick Mahomes continues to lead NFL Pro Bowl fan voting with 206 votes for the 2021 Pro Bowl presented by Verizon.
4 • Super Bowl LIX TBD Feb.
from 2000 spear-headed efforts to reverse downward participation trends of tennis; Mark King, CEO of TaylorMade-adidas Golf; Damon Hack, co-host of on the Golf Channel; Ashley Mayo, editor of Audience Engagement at; Tom customize your own jersey part owner of Top Golf; and Dottie Pepper, former LPGA pro, former NBC Sports golf analyst and author.
11 Sacramento vs Portland ESPN • Dec.
It’s a hard thing to do because everyone is deserving.
The players will also not be discussing their punishments, as they won’t be receiving any.
This past Thanksgiving, I ate 100 turkeys.
Sentiment in the city and region regarding James also began to fall apart, with many outrightly and vehemently chastising the player who had been with the make your own jerseys from 2003 through the 2009 NBA season.
Guns N’ Roses $151 million 2.
SINGLE-GAME HIGHS: TACKLES: Total – 9 28 vs.
15 Golden State vs.Sacramento TNT • Dec.
Stidham is being asked to produce using the same cast of characters on offense.
LeBron James $88 million $28 million $60 million NBA 6.
We took great pride in elevating the brand awareness and relevance of its products and were prepared to continue activating pursuant to the agreement in 2017 and beyond.
Although financial terms were not disclosed, analysts estimate that the total of the new deals could easily triple the value of the Reebok deal.
The WNBA’s Connecticut Sun is owned by the Mohegan Sun, and the league’s New York Liberty recently signed a marketing deal with the Foxwoods Resort Casino, also in Connecticut, which includes jersey-front sponsorship.


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Last week, we found out the 2017 3DS release The Alliance Alive was receiving a high-definition remaster in Japan this fall. The lovely folks over at Gematsu also informed us NIS America would be hosting a video presentation this week, where a western announcement was expected to be made.
Sure enough, The Alliance Alive HD Remastered has now been announced for North America and Europe. It will launch alongside the Japanese version this fall and be available in both digital and physical form. The limited edition physical release includes the game, hardcover, art book, soundtrack CD and collector's box for $64.99. If you live in the US, you can pre-order it right now from the NIS America Online Store.
Alongside this announcement was the official trailer:
Humanity has been shattered and enslaved by invading Daemons from another realm. To reclaim their home and free their people, an unlikely fellowship of heroes will band together to spark a fiery revolution. Explore various Daemon-controlled realms, awaken your inner strength in the heat of battle, and form alliances to amass a force strong enough to stand against the invading forces. Coming to Nintendo Switch in Fall 2019.
For more information about this JRPG, check out our previous post.
Will you be adding this to your Switch library? Did you play the original 3DS release? Tell us down in the comments.


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The Philippine Superbike Championship will likely welcome a new kid on the block for the 2018 season. Looking superfast and strong as its big brother, the YZF-R1, the 2017 Yamaha R6 sport bike was made public by Yamaha Motor Philippines (YMP) at the YZone showroom in Mandaluyong City last Wednesday evening.
The entry of the 2017 Yamaha R6 opens the gate for motorbike racing enthusiasts opting for middleweight sport bikes that handle exquisitely both on the street and on the track.
With this launch YMP has shifted gear to racing mode. The new R6 completes YMP's ‘R’ series in the local market: Sniper 150, Aerox 155, YZF-R1, YZF-R3, and the YZF-R15 that was also launched recently.
The R6 not only inherits the awesome design cues of the YZF-R1, but its high-tech electronic rider aids as well. It comes with a six-level traction control that can be switched off, Quick Shift System for clutchless gear shifting, ABS, and D-Mode (Standard, A and B) as standard features. The quick shifter, however, only works on upshifts. Also, the R6 comes with a slipper clutch that eliminates rear wheel hop or chatter in sudden downshifting at high speed.
Put the R6 and the R1 side by side and I bet you’ll find it difficult to distinguish which is which. The R6’s new, sleek front fairing design, which is almost identical to the R1’s, boasts of an 8% improvement in aerodynamic efficiency compared to the older version. Even the dimensions of the R1 and R6 are almost the same, particularly the wheelbase which measures 55.3in and 54.13in, respectively. Their seat height stands a little over 33in. The stylish headlight, auxiliary light, brake light, taillight and turn signal light are all LEDs.
Other improvements for the R6 include a 43mm KYB front fork, up from the previous 41mm dampers, and a bigger 25mm axle. Its 17L fuel tank is now made of lightweight aluminum instead of steel.
The pure strength of the R6 lies in its engine. Its 599cc powerplant generates 116hp @ 14,500rpm and 61.7Nm @10,500rpm. Considered the most sophisticated 600cc super sport bike Yamaha has ever built, the YZF-R6 features the Yamaha Chip Controlled Intake (YCC-I) that results in a broader, more manageable powerband without compromising fuel efficiency.
Yamaha Motor Philippines pegged the R6’s SRP at P749,000, and that translates to big savings from the R1’s P1 million tag. The R6 is available at all Yamaha Big Bike shops in two sensational colors—Race Blu and Tech Black.
Until this year, we witnessed R6s of older generations still battling it out with other middleweights and super sport bikes at the prestigious Philippine Superbike Championship. With the entry of the 2017 YZF-R6 , will we see more motorcycle racers moving up to the superbike category next year?
UPDATE as of June 11, 2018: The 45th Tokyo Motorcycle Show in Odaiba was held from March 23 to 25 this year. The photos and videos shared by their visitors might have caused confusion among netizens since they have almost the same group of motorcycle companies showing off their latest hardware and technology. Moto Sapiens attended the Tokyo Motorcycle Show. This year, 135 companies with 882 exhibit booths showed off their latest two- and three-wheelers, modern electric bikes, accessories, and even riding paraphernalia. There were launch events of new motorcycles, relaunching of face-lifted units, and even revivals of classics by Japanese, European, American, and—wait—two Taiwanese brands.


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Digital TV News: Thierry Demoor
Proximus selects Velocix CDN to scale Pickx
Apr 21, 2021 – Velocix has announced that Proximus has scaled its Pickx video service using Velocix CDN technology. Proximus will more than double its HTTP streaming capacity with Velocix’s carrier-grade CDN software.
News categories: Velocix, Proximus, Anthony Berkeley, Thierry Demoor, Belgium, Content Distribution, Digital TV, IPTV
Proximus and Technicolor deliver 'Pickx' decoder based on Android P
Nov 12, 2020 – Technicolor (Paris: TCH, OTCQX: TCLRY) has announced that Proximus has begun deployment of its V7 decoder 'Proximus Pickx'. Technicolor helped integrate a broad range of functionality into the Android TV set-top box.
News categories: Technicolor, Proximus, 3SS, Mercedes Pastor, Thierry Demoor, Android TV, Belgium, Digital TV, Set Top Box, UX
3READY Android TV from 3SS powers Proximus Pickx
Dec 20, 2019 – 3SS has announced that Proximus has selected its 3READY Android TV solution for the recent launch of Proximus Pickx, an IPTV service. Proximus Pickx, Europe’s first Android P based TV project, had its pilot launch in October.
News categories: 3SS, Proximus, Kai-Christian Borchers, Thierry Demoor, Android TV, Belgium, Digital TV, IPTV, Set Top Box, UX
Proximus to upgrade ATEME video headend
Jan 10, 2017 – ATEME has announced that Proximus is upgrading its ATEME based video headend to a TITAN full-software solution in order to reap the benefits of its new features and R&D enhancements.
News categories: ATEME, Proximus, Christophe Deffontaines, Thierry Demoor, Belgium, Content Distribution, Digital TV, IPTV
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- Foxxum partners with OTTera to expand app portfolio
- Taiwan Mobile selects Broadpeak for live video streaming to mobiles
- TV Globo affiliate EPTV turns to MediaKind for IP video edge upgrade
- tvOS 17 brings FaceTime and video conferencing to Apple TV 4K
- VIDAA to bring Paramount+ to viewers in Canada and Latin America
- AR/VR headset shipments slowed in Q1 2023
- Introducing Apple Vision Pro: Apple’s first spatial computer
- 49% of U.S. adults watch video via a CTV device daily
- FAST revenues in Eastern Europe set to reach $42m by 2028


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One of the most active players in the blockchain. Bank of America (BoA) filed another application, this time associated with an encrypted data storage system. This writes CoinTelegraph.
The application is called the Block Chain Encryption Tags was filed on 18 April 2018, and describes a system designed for recording and reliable storage of cryptocurrency transactions undertaken by the companies. The text posted on the website of the Office for patent and trademark office (USPTO) on August 23.
The system includes a device with a processor that first receives a set of data elements, receives the encryption key, and then encrypts these data elements within the first block of the blockchain. After that, the device integrates the encryption key to the encrypted “map” elements to create and encrypt “tag Creator”, which can be embedded and published in the first block of the blockchain.
Further, the device integrates the encryption key encrypted with the map elements, creating and encrypting a “tag Creator”, which can be embedded and published in the first block of the blockchain.
As noted in the document, this patent application is a redesigned version of the regular application of “Online storage of cryptocurrency”, which in 2014 was filed by James John. Ronka.
Despite his skepticism about the cryptocurrency, BoA for a long time actively explores the underlying technology. In total, the second largest U.S. Bank has filed about 50 patent applications related bloccano, some of which were approved.
The last such case was a patent for a system of automatic exchange of digital currencies in December 2017.
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TOKYO — Japan’s first-quarter gross domestic product grew 4.1 percent on an annualized basis, signaling a recovery for the world’s third-largest economy after last year’s devastating earthquake and tsunami.
The growth for the January to March period outstripped expectations. Tokyo-based brokerage Nomura Securities said the market had been anticipating a 3.5 percent rise in GDP for the period.
Consumer spending rose 1.1 percent in the first quarter, according to the figures released Thursday by Japan’s Cabinet Office. Government subsidies that encouraged consumers to buy new environmentally friendly cars boosted spending.
Government spending spiked 5.4 percent in the quarter, reflecting the country’s post-tsunami reconstruction efforts.
“We view this as evidence that domestic growth momentum, which slowed considerably in the October-December period from the impact of flooding in Thailand and the economic slowdown overseas, picked up in the January-March period,” Nomura said in its research.
Nomura’s economists expressed concern over a 3.9 percent decline in capital spending but said they expect “strong” GDP growth to continue in the April-June quarter.
As of early afternoon Thursday, Tokyo’s Nikkei 225 index was gaining 0.45 percent and trading near a level of 8,840.59.


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As we’ve previously discussed here at Techaeris, as other sites around the web have, loot boxes or loot crates in games are a contentious issue that were brought to the forefront with the release of Star Wars Battlefront II. If you’re a gamer, you’ve probably encountered loot boxes at one time or another. While most are purchased using in-game currency, some can be purchased with real-world money or money can be used to buy in-game currency to then purchase loot crates. While many games offer cosmetic loot crates, some can provide an advantage to gameplay. The issue with all loot crates though is that there is no guarantee of what the contents may be and some jurisdictions are likening the process to gambling.
As a result of how EA was implementing loot boxes in that game, a number of jurisdictions, including Belgium, launched investigations into whether or not loot crates in video games violate local gambling legislation.
At the request of Minister of Justice Koen Geens, the Gaming Commission conducted a thorough investigation into ‘loot boxes’ in video games. Players can buy a ‘loot box’ against payment – which can give them an advantage in the game – without knowing their content in advance. The Gaming Commission now judges that this is at least three video games in violation of the gambling legislation. ‘An interview with the sector is imminent. It is often children who come into contact with such systems and we can not allow that, ‘says Minister of Justice Geens.
The Belgian Minister of Justice, Koen Greens, released the findings of the Belgian Gaming Commission. Fortunately for EA, the changes they made to the way loot boxes were obtained as well as their contents, the commission found the game was no longer in violation of Belgian gambling legislation. Unfortunately, three other games also under investigation — Blizzard’s Overwatch, EA’s FIFA 18, and Valve’s Counter-Strike: Global Offensive (or CS:GO) remain in violation of the country’s gambling laws.
“Paying loot boxes are not an innocent part of video games that present themselves as games of skill,” stated Peter Naessens, director of the Gaming Commission. “Players are tempted and misled, and none of the protective measures for gambling is applied. Now that it is clear that children and vulnerable people in particular are exposed to them unprotected, game manufacturers but also parties such as FIFA, for example, are called upon to call a halt to this practice. “
As you can see in the statement above, the issue the commission has with loot boxes are those that are obtained by spending real money without any guarantees as to what is contained within that box — cosmetic or otherwise. The Gaming Commission also mentioned that the PEGI video game rating system doesn’t take into account whether or not the game has a chance of “winning or losing of real money” through the purchase of loot boxes.
“Mixing games and gaming, especially at a young age, is dangerous for mental health,” said the Belgian Minister of Justice, Koen Greens. “We have already taken numerous measures to protect both minors and adults against the influence of, among other things, gambling advertising. That is why we must also ensure that children and adults are not confronted with games of chance when they are looking for fun in a video game. “
Some of the criteria the Gaming Commission took into account in their findings included:
- Emotional profit forecast: uncertainty loot box is linked to profit forecast;
- A player may think that the purchase of a loot box gives an advantage, which is not always the case
- Confusion of fiction and reality: well-known real people promote the most expensive loot boxes;
- Use your own coin system: for a real amount, players can buy in-game coins;
- Apparently infinite methods to deposit money on player accounts;
- Hide from the random generator or at least its opacity.
While the developers can be fined up to €800,000 or face up to five years in jail — doubled when minors, as is the case here, are involved — the Minister of Justice wants to open up talks with game developers and the Gaming Commission to discuss possible solutions.
What do you think of the Belgian Gaming Commission’s findings? Do you think other jurisdictions will follow suit and offer similar findings? Let us know in the comments below or on Google+, Twitter, or Facebook.[button link=”https://www.koengeens.be/news/2018/04/25/loot-boxen-in-drie-videogames-in-strijd-met-kansspelwetgeving” icon=”fa-external-link” side=”left” target=”blank” color=”285b5e” textcolor=”ffffff”]Source: Belgian Minister of Justice[/button]
Last Updated on April 26, 2018.


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A TWO-YEAR buying spree of JJB stores by rival Sports Direct International has raised competition issues in five areas of the country, said the Office of Fair Trading.
The findings emerged after the OFT rolled several acquisitions of JJB stores by Sports Direct into a single investigation covering 31 outlets.
The OFT said it was considering an offer by Sports Direct to sell stores in the five areas.
The firm has pledged to offload stores to up-front buyers approved by the OFT.
Sports Direct has more than 350 outlets, while JJB has cut its portfolio to 253 stores after a major disposal and closure programme.
The investigation found competition concerns in five local areas where Sports Direct already has existing stores.


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HMV will reopen the original flagship store on Saturday, 92 years after first opening its doors on Oxford Street. The retailer traded at 363 Oxford Street until 2000, before moving further up the road.
Speaking to Retail Week Chairman Paul McGowan said: "The store at number 363 was a London landmark and a British institution for nearly 80 years and earned its place in music history through its role in landing The Beatles a recording contract.
"It's hugely significant that HMV's coming home to do what it does best with renewed confidence and authority."
Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall.


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Can Digital Editions Be Sexy?
● These numbers are significant as publishers seek to build out a branded magazine app and mobile website strategy.
As Baker says when asked the question "Where are we now?" with digital editions and apps: "I feel like answering, 'Light years from where we were five years ago!'"
So … Where Are We Now … Really?
We may be light years from where we were five years ago, but the way technology evolves, we may be light years from where we are now by the end of the year in both digital editions and apps, consumer adoption and metrics.
"Opportunities are growing," says Edwards. "Newsstand from Apple will be another string to publishers' bows, offering automated content downloads and increased discoverability."
In addition, he says, "Native apps, Web apps and HTML5 digital editions need to be maximized, as vendors should be able to offer cross-platform subscription and advertising integration, as well as custom sponsorship and revenue solutions. Lead generation is one focus of some b-to-b apps."
In fact, sponsorships and in-app ads are being seen more and more frequently in both b-to-b and consumer apps.
Also a boon for consumer publishers or other paid-circ-driven publishers, notes Edwards, "We still see customers willing to pay between 50 percent and 100 percent [of the] traditional print price for mobile- or tablet-only subscriptions. Plus, now, publishers can bundle print and digital and app offering; there is good flexibility in the deals available to customers," he says.
"New, short-term developments are emerging tablets," Edwards adds, "so … Samsung Galaxy and HP (Bada OS), which publishers can jump on through native apps or HTML5. Plus, there will be TV apps in the coming years." PE


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The Chinese are known for their knock-off, copyright infringing products but the Ouye just might take the cake. The Android video game console looks like a PS4 and comes with a controller that closely resembles the Xbox One design. The company behind the system even stole their console’s name from Ouya.
Right now the system is in its funding stage. The company is trying to raise 100,000 Chinese yuan (roughly $16,000 USD) on a Kickstarter-like website called JD Finance. The system itself is running for less than $70 with free shipping.
(Note: Don’t to try to buy one of these as there is no telling how legitimate the hardware company behind it is or if JD Finance has any buyer protections in place.)
Both Sony and Microsoft have entered the Chinese market with their PS4 and Xbox One consoles but neither have managed to catch fire. Aside from the problem of knock-offs and rampant piracy, Chinese consumers have a bias towards PC gaming — and for good reason: foreign video game consoles were banned in the country until recently.


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Upon Fuyao Glass’s appeal to the U.S. Court of International Trade in New York, the court has ruled that the Department of Commerce (DOC) should withdraw its dumping charges against Fuyao. The company is appealing based on its float glass calculation data.
“We believe the truth is on our side, so we spent a lot of time and money to prove it,’’ said Cao Dewang, president of Fuyao. The DOC had not made a decision, however, at press time.
Officials from Greenville Glass, an American subsidiary of Fuyao, said they expect the final decision by the DOC to be several months away.
“It must be noted that the dumping case is still in the appeal process and that no final determinations have been made by the Department of Commerce,” said Bruce Prescher, vice president of sales. “We should have a better understanding of the appeal in about half a year to nine months.”
He added, “In the meantime, it is business as usual for Greenville Glass. We are still under dumping penalties and we are still in the appeal process. Hopefully soon we will reach a positive conclusion to this long and arduous lawsuit."
|AGRSS Begins Education for Insurance Industry
The Auto Glass Replacement Safety Standards (AGRSS) Council began a series of individual meetings with key members of the insurance industry the week of January 11. The meetings are designed to help educate insurers about the AGRSS Standard and the benefits to consumers of using AGRSS-registered companies for auto glass replacement work.
Members of the insurance subcommittee of the AGRSS marketing committee will meet representatives from three insurance companies—State Farm, Allstate and American Family Insurance—to explain the AGRSS Standard and AGRSS registration process.
“We hope that all insurance companies will begin to encourage compliance with the AGRSS standard and to promote the benefits of using AGRSS-registered companies to do such work,” said insurance subcommittee chair Steve Pierick of Binswanger Glass. “It is important that insurance companies understand the safety implications of the AGRSS Standard.”
Pierick says additional meetings are in the works with a number of top insurers and that direct mail efforts are planned for all insurance companies involved in claims.
“Our goal is to make sure everyone knows how important AGRSS registration is,” he said.
“Both reputable insurance and auto glass companies have a keen interest in vehicle safety,” said Cindy Minon-Ketcherside of JC’s Glass in Phoenix, Ariz. Minon-Ketcherside chairs the AGRSS Council. “Both of our industries are, in many ways, in the safety business. We need to make sure that customers are choosing companies that know about the AGRSS standard and comply with it.”
AGRSS Council Decides Not to Take on Repair
The Auto Glass Replacement Safety Standards Council (AGRSS) has decided not to pursue development of an ANSI standard for auto glass repairs, an idea that was suggested by council participant and Independent Glass Association (IGA) chief executive officer Tim Smale at the council’s September 9 meeting in Scottsdale, Ariz. (see page 50 for related story).
The decision was made mostly due to the costliness and time involved in developing an ANSI standard, according to AGRSS chairperson Cindy Minon-Ketcherside, also the president of JC’s Glass in Phoenix.
“The main thing that we had to look at is there’s a lot of cost involved in getting a standard in place, so the reason we chose not to do it is cost,” Minon-Ketcherside said.
The suggestion followed several months of debate between the IGA and the National Windshield Repair Association (NWRA) concerning the safety of windshield repair after the IGA released a study conducted by St. Louis-based Solutia Inc. claiming that moisture striking the PVB in a windshield can make it unsafe and therefore can make windshield repair of these breaks unsafe.
However, the IGA later announced at an NWRA board meeting and in several articles that the study was meant to focus on the PVB issue, not windshield repair.
NAGC Update ChangesName to Salient
The Waverly, Minn.-based NAGC Update, published by Sally Custer, has changed its name to the Salient.
According to Custer, “NAGC,” the company’s acronym for National Automotive Glass Consultants, has been repeatedly confused with NAGS (National Auto Glass Specifications International).
“During the past several years glass shop owners have been disgruntled with the price changes NAGS has made,” Custer said. “Often individuals check out articles I have posted on my website and assume I am with NAGS. Hopefully, by changing our publication name from NAGC Update to the Salient I will dispel those inaccurate perceptions.”
Auto Glass Company Markets on the Web
89 Glass.com, an auto glass company based in Walla Walla, Wash., has been recruiting customers via e-mail. The e-mail’s subject says, “Get Your Windshield Replaced! Save $100 On-Line.” Once opened, the e-mail offers a website the viewer can click on and then input his zipcode and vehicle information to receive a quote on a windshield replacement. If he chooses to do so, the operator can then schedule the job from his own computer.
The website owner is listed as Rob Schmidt of RBS Inc. in Walla Walla. However, Schmidt did not respond after several repeated attempts to reach him via both phone and e-mail.
Madison, Wis.-based Klein-Dickert Co. Inc. says it is realigning its Madison and Milwaukee units, according to an article in the Capital Times.
Effective January 1, the company absorbed the auto glass division of Klein-Dickert Milwaukee Inc., while the glass and glazing division of Klein-Dickert Co. became part of Klein-Dickert Milwaukee, according to the article. Employees are remaining in their current locations. As a result of the changes, the Madison location is handling the company’s auto glass and paint jobs, while the Milwaukee facility is placing its focus on commercial and residential glass work in an effort to increase efficiency.
Boyd Group Purchases Gerber Glass
The Winnipeg, Manitoba-based Boyd Group has announced that it has finalized the purchase of all of the shares of Gerber Glass, which is based in the Chicago area. Boyd expects the acquisition to contribute $70 million to its annual revenue in 2004, increasing Boyd Group’s overall annualized sales to approximately $200 million.
“This business combination provides Boyd Group with a significant base of business and a proven management team that will play a meaningful role in our continued U.S. expansion,” said Terry Smith, president and chief executive officer (CEO) of the Boyd Group. “Gerber is an ideal fit for us. [It is] a professionally managed, growth-oriented company that has established a leadership position in [its] market that is characterized by mutually rewarding partnerships with the insurance community.”
Eddie Cheskis, chief executive officer for Gerber, was also pleased with the acquisition.
“This is an exciting time for Gerber. We have the infrastructure in place that provides us with a tremendous opportunity to continue to grow our business in the Chicago area and we welcome the opportunity to partner with Boyd Group to extend our delivery of industry leading results to new markets,” Cheskis said.
Glass Doctor Holds Annual Meeting
The Waco, Texas-based Glass Doctor held its franchisee meeting in November in Chicago—its first since the acquisition of Harmon AutoGlass in Minneapolis was finalized. In attendance were president Robert Tunmire, Dina Dwyer-Owens, chief executive officer of the Dwyer Group, which owns Glass Doctor, and Loren J. Schlachet, principal for the Riverside Co. The meeting kicked off on Sunday, November 9, with a reception, followed by 2 ˝ days of meetings and trade exhibits.
With more than 140 in attendance, 95 of whom were franchisees, Dwyer-Owens explained why the recent Harmon AutoGlass purchase was a wise one for the company.
“We take business owners where they can’t take themselves,” she said. She went on to explain that Harmon is a good fit with the Glass Doctor because of its customers, values, people, quality and service, along with its “entrepreneurial glass culture.”
Harmon’s former vice president of operations, Nick Greville, will serve as the new chief operating officer for Glass Doctor.
“It’s a great opportunity to stay involved,” Greville told AGRR. “There will be new, exciting ways for the auto glass industry to encourage franchise buying, ongoing business/enterprises.”
Greville said his challenge over the next six months will be focused on the employees. He’ll be teaching necessary business practices to all employees and to work with local and national account services to achieve a better level of service.
© Copyright Key Communications Inc. All rights reserved. No reproduction of any type without expressed written permission.


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NEW YORK (TheStreet) -- Shares of Visa Inc. (V) - Get Visa Inc. Class A Report are down -3.54% to $201.91 after the payments technology company said economic sanctions against Russia could hurt their profits this year.
The sanctions may trim "several pennies" per share from Visa's fiscal 2014 earnings, said CFO Byron Pollitt said yesterday after the company reported quarterly results, Bloomberg reports.
The U.S. imposed sanctions on more than two dozen individuals and St. Petersburg-based OAO Bank Rossiya, prompting Visa and MasterCard Inc. (MA) - Get Mastercard Inc. (MA) Report to stop processing payments for some banks. Russian President Putin responded to the sanctions by recommending that his country create its own payments system and change its laws. He said the two companies will lose market share, Bloomberg noted.
TheStreet Ratings team rates VISA INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate VISA INC (V) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth greatly exceeded the industry average of 20.2%. Since the same quarter one year prior, revenues rose by 10.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
- V has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. To add to this, V has a quick ratio of 1.54, which demonstrates the ability of the company to cover short-term liquidity needs.
- VISA INC has improved earnings per share by 14.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, VISA INC increased its bottom line by earning $7.58 versus $3.13 in the prior year. This year, the market expects an improvement in earnings ($8.88 versus $7.58).
- The net income growth from the same quarter one year ago has significantly exceeded that of the IT Services industry average, but is less than that of the S&P 500. The net income increased by 8.8% when compared to the same quarter one year prior, going from $1,293.00 million to $1,407.00 million.
- The gross profit margin for VISA INC is rather high; currently it is at 69.22%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 44.59% significantly outperformed against the industry average.
- You can view the full analysis from the report here: V Ratings Report


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Roswell, NM – October 2, 2014
It was announced today that Life Changer Studies now offers the studies they produce in conjunction with Amazon.com. “Amazon offers us far greater reach, the addition of the Amazon brand, and more potential markets than our own website offers alone,” John Drusedum, Executive Director said.
“Order fulfillment and shipping will continue to be handled through our home offices until the need arises to change that,” he related, “and with the new store on Amazon’s website, we see unlimited growth potential as we look to the future. What an opportunity for growth – especially as we continue to roll out new studies.”
Visit the LCS Amazon store here.