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CAMBRIDGE, Mass. (
has cracked down on two of its U.S. executives for selling the anti-aging supplement resveratrol without the company's knowledge or permission, and by doing so, conceivably undermining Glaxo's nearly $1 billion investment in resveratrol drug research.
The U.K.-based pharmaceutical giant ordered Cristoph Westphal and Michelle Dipp Thursday to cease selling a resveratrol dietary supplement through a nonprofit venture known as the Healthy Lifespan Institute that the two executives helped establish last year,
Westphal and Dipp were both principal executives at
when Glaxo acquired the company in 2008 for $720 million. Glaxo bought Sirtris for its expertise in developing drugs based on resveratrol, a chemical found in red wine which some research suggests may ramp up the metabolic activity in cells and could one day be used to treat diabetes, cancer and many other diseases.
Westphal and Dipp joined Glaxo after the Sirtris acquisition and continued to direct Glaxo's continuing efforts into resveratrol drug development. Unbeknownst to Glaxo, the two executives were also moonlighting as purveyors of their own custom-made dietary formulation of resveratrol. The resveratrol sold by Westphal and Dipp is formulated differently and is less potent than Glaxo's resveratrol drugs, according to the company.
Consumers could purchase resveratrol online from the Healthy LifeSpan Institute run by Westphal and Dipp at a cost of $540 for a one-year supply. The web site
first reported on Westphal and Dipp's extra-curricular activities Thursday.
Westphal and Dipp informed Glaxo about the formation of the Healthy Lifespan Institute, but "GSK
Glaxo was not aware that the Healthy Lifespan Institute was selling a resveratrol formulation on the Internet. The company has instructed the GSK employees to cease their association with this activity and Michelle Dipp and Christoph Westphal will be resigning their positions on the board of Healthy Lifespan," said Glaxo spokeswoman Sarah Alspach in a statement emailed to
Westphal, who is also a partner in a venture capital firm based in Boston, would not answer questions, according to his spokeswoman. Dipp could not be reached.
Resveratrol is a natural compound and can therefore be sold via retail channels as a dietary supplement without regulatory approval. Glaxo, however, spent $720 million to acquire Sirtris with the hope that a prescription drug made from resveratrol would one day be approved by U.S. or European regulators with a specific medical claim to treat or cure a disease like diabetes or cancer.
A resveratrol drug like that could potentially generate billions of dollars in sales for Glaxo. To succeed, the pharmaceutical giant would have to argue successfully that only its prescription formulation of resveratrol -- and not the similar substances sold on the Internet, in health food stores or TV infomercials -- provide real therapeutic benefit.
Yet, Glaxo's huge investment in resveratrol drug research is potentially undermined, even jeopardized, by the Sirtris-turned-Glaxo executives who sold them on the idea but then turned around and started selling their own cheap resveratrol over the Internet.
Glaxo's Alspach had no further comment.
Glaxo's decision to acquire Sirtris for $720 million was a gamble because at that time, Sirtris had very little clinical data to support its theory that resveratrol drugs could extend life or treat and cure disease. In fact, no clinical trial in humans to date has substantiated the anti-aging or disease-modifying claims made about resveratrol
In April, Glaxo terminated a clinical trial of its resveratrol drug SRT501 in multiple myeloma after some patients developed kidney damage. Other studies of Glaxo's resveratrol drugs have either been completed or are still enrolling patients.
that her Healthy Lifespan Institute was selling the custom-made resveratrol formulation web site at cost and was not profiting from sales.
Dipp was one the first employees at Sirtris and is now senior vice president of Glaxo's Center of Excellence for External Drug Discovery, responsible for helping Glaxo form drug development partnerships with smaller biotech firms.
Westphal was the CEO of Sirtris both before and after Glaxo's acquisition. He now runs SR One, Glaxo's internal venture investing unit.
Dipp and Westphal are also founding partners of Longwood Founders Fund, a Boston-based venture capital firm in which Glaxo is an investor.
-- Reported by Adam Feuerstein in Boston.
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By Kristin Bednarski
Jungle Jim’s Liquor Store is now open in Eastgate.
The store opened Jan. 16, and features 5,000 square feet of products including liquor, cigarettes and other items.
According to a release from Jungle Jim’s, the store is one of the largest liquor stores in Ohio.
“It is very comfortable, and pretty,” Phill Adams, director of development for Jungle Jim’s said. “It is very open and spacious.”
Adams said the one thing people have commented about most since the shop opened is that it doesn’t look like a typical liquor store.
“It’s definitely a ‘jungle-ized’ liquor store,” Adams said. “We still have some more surprises.”
Adams said the store features a variety of liquors and somewhere around 900 hundred different labels.
Adams said the store fits in nicely in the beer and wine department, and he said it is one of only a few liquor stores in the county.
“This will help fill a void,” Adams said.
Adams said they have been working on completing the liquor store since November of 2012.
Adams said they had a temporary liquor department in the wine department near the cigar humidor. He said now they will expand the tobacco section in that area.
The liquor store can be accessed through the main entrance of Jungle Jim’s or through the back entrance by beer and wine.
The liquor store hours are Monday through Saturday 9 a.m. to 10 p.m. and Sunday 11 a.m. to 10 p.m.
Adams said the liquor store is just one of many upcoming additions or changes to the store.
“Our store is still evolving,” Adams said. “We are still growing, changing, updating and adding.”
Jungle Jim’s opened in September of 2012 and features many different departments including American grocery, international food, meat and seafood, a bakery, beer, wine and more.
For more information about Jungle Jim’s visit www.junglejims.com.

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March 10: The fifth secretary-level commerce meeting between Nepal and Bangladesh has agreed to waive customs duty on 20 different goods produced by each country.
The meeting held last week in Dhaka reached an understanding that both the countries will not impose customs duty on certain goods produced within the two countries, according to the Ministry of Industry, Commerce and Supplies. However, the two countries have not finalized the products that will benefit from customs duty waiver.
Nepal has submitted a list of goods including threads, ginger, tea, coffee, shoes, cement, clinker and dairy products to Bangladesh for customs duty waiver.
Likewise, Bangladesh has also submitted a list of its products like machineries, industrial equipment and juice for tax waiver.
Nepal had imposed a ban on energy drinks from Bangladesh since the start of the last fiscal year. Bangladesh had been requesting Nepal to lift the ban since then.
According to the ministry, the two countries will study the list and then take the decision on customs duty waiver. The two countries will sign an agreement after studying the list, according to Secretary Baikuntha Aryal.
“Both countries have their own interests to promote the home-grown products. We have presented our views. We have made it certain that our products will get easy access to Bangladeshi market,” he said.


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Consolidation in the peer-to-peer lending industry may finally come to fruition in 2020, stakeholders have predicted.
Tougher regulations on the sector are forecast to speed up this process, with executives predicting mergers to share costs, as well as more platform closures.
“The costs of regulation, technology and marketing all quickly add up, and when added to the core business of deal origination, due diligence and oversight, many platforms could not make the economics work,” said Jatin Ondhia, chief executive of Shojin Property Partners.
“I do expect many more to close. “Some of those will close because of poor quality deal flow, but many more will close because the business just could not make the numbers work, which is a real shame.
“To succeed in this space, businesses will need to be well capitalised and will need to monetise the business properly. “I totally believe that there will be some M&A or joint-venture activity.
“While no market player is significant enough to warrant buying them out or merging, amongst some of the stronger players there is already talk of tie-ups to open up the investor base while reducing overheads and sharing resources.”
John Cronin, financial analyst at brokerage Goodbody, said he expects to see much more industry consolidation during 2020 and beyond.
“This is a function of the degree of fragmentation which has seen many new entrants in recent years as well as the fact that some platform owners will look to a sale as a rescue play,” Cronin said.
“The refreshed Financial Conduct Authority regulations will only accelerate this trend in my opinion – indeed, I believe that these regulations will facilitate a deeper recognition on the part of interested market participants that there are players of strength in the P2P market who will survive for the long-term.”
However, newly-launched property lender Nexa Finance said that changes to business models are more likely than consolidation.
“There is always the possibility that some property P2P platforms may consider cease trading and either run off their book or look for a platform to buy them, but we believe it is more likely that they will change or adapt their model, such as withdrawing from retail investors,” said Mark Williams, chief operating officer and director of credit risk at Nexa Finance.


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Chanel is nevertheless going to show the Cruise 2020/21 collection this summer - it will be held in an online format on June 8 at 12:00 Paris time. This news was announced yesterday on the brand's ******* profile.
The show was originally planned to be taking place on May 7 on the island of Capri but was canceled due to the coronavirus pandemic. Back in March, representatives of the fashion house announced that they did care about the health of their team and guests, so they were looking for alternative ways to present the collection - later in Capri or in a different format.
Earlier, Chanel canceled the Métiers d'Art show in China, as well as the presentation of this collection in London - it was supposed to be held on June 4.
Read more latest fashion news:


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It has emerged that Norbert Dentressangle, taken over last month by US firm XPO Logistics, was ordered in March to pay a former employee more than £8,000 for unfair dismissal, after sacking him last year for what his employer deemed was a sexually suggestive picture posted on his Facebook page. In an employment tribunal hearing in Glasgow, judge Robert Gall was told that Faisal Auld, a chargehand at ND’s Falkirk DC, had been sacked by site manager Margaret Farquharson after […]
Norbert Dentressangle has signed a three-year contract extension with Vauxhall Motors for the overnight distribution of parts. ND has worked with Vauxhall for 12 years and the extension sees the operator deliver parts to 300 Vauxhall and Chevrolet retailers across the UK. ND has also spent £1m on 35 new trailers serving the contract, which sees it collect orders from Vauxhall’s parts distribution centre in Luton for onward delivery direct to retailers overnight. Peter Durham, warehouse operations manager at Vauxhall […]
Underlay and flooring accessory manufacturer Interfloor has outsourced its transport to Norbert Dentressangle, in a three-year multi-million pound deal. The operation involves more than 100 outbound movements from Interfloor’s production sites in Haslingden, Lancashire and Scotland’s Dumfries. ND will use a new fleet of 19 artics with cutainside-trailers and 11 (18-tonne) rigids to handle the outbound movements. It will also make more than 500 customer deliveries a week. Ian Merrifield, operations manager at Interfloor, said: “We are committed to improving […]
Although Clugston can trace its roots back almost 120 years to 1895, when the grandfather of current chairman John Clugston set up a builders merchants in Scunthorpe, it celebrated its official 75th anniversary since incorporation last year.


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Finnfund has announced that it has invested Ksh. 100 million (USD 1 miilion) in e-commerce platform Kasha.
Kasha is an e-commerce platform (kasha.co.ke) that was founded in 2016 in Rwanda and has since expanded to Kenya. The company has served over 55,000 clients, and delivered close to 600 000 products out of which 275 000+ are health products.
The company sells menstrual care products, contraceptives, pharmaceuticals and a range of beauty products via its platform. Customers can order their products on their website or by calling toll free call via 0800721220, on USSD via Dial *308# or by WhatsApp +254 717 501698. The company offers free next day delivery on all orders above Ksh. 1,500 in Kenya.
“We are a very purpose-driven company with a strong focus on our customers. We deliver the products that women actually want and need in a way that is most private and discreet for them”, says Kasha’s CEO Joanna Bichsel. “What drives us is that we can change the way women in emerging markets get their health products. Partnering with Finnfund, we look forward to growing our presence in Rwanda and Kenya as well as expanding to other countries in Africa – and eventually to other parts of the world.”
Finnfund started negotiations with Kasha in February 2020. “We were convinced by their strong mission and at the same time, we see that e-commerce is rapidly growing its share of consumer spending”, says Finnfund’s Investment Manager Johanna Raehalme. “During the investment process, Kasha’s role has become more relevant than ever: At the moment, they are preparing for an active role in protecting people from COVID-19”, says Raehalme.
Kasha’s CEO Joanna Bichsel confirms this: “Kasha is already serving as a safe way to get hand sanitizers, antibacterial soaps, masks, gloves and eventually COVID diagnostic rapid tests. Our content channels also provide access to information on how to protect yourself from the virus. In Rwanda and Kenya, Kasha is supporting the directives of the Ministry of Health, having optimizing Kasha to effectively serve as a channel for the safe delivery of COVID-19 protection related products, information and services”, she says. “Even data around purchases related to the new coronavirus and their demographics or geographic “hot spots” based on various indicators could be shared. Kasha is also part of a technical working group identifying technology solutions to help with the situation.”
Finnfund is committed to investing 105 million euros in businesses that advance gender equality during 2019-2021. The investment in Kasha promotes gender equality by creating access to health-related products as well as creating employment and leaderships opportunities for women.


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Could we be looking at a new arms race between Tesla, which uses a Lotus chassis and a new British car company that plans an even more batchsit mad electric car? Sure, why not. It's the Lightning Car Company GT, and it's powered by four, hub mounted electric motors that its builders claim produce at least 700 hp in toto. We're not sure if torque accrues in the same way, but considering each motor has a maximum torque rating at the wheel of 553 lb-ft starting at zero rpm, it could be a mad proposition if t did. The company's plan calls for three models, the GT; a lighter, faster GTS version and a long-range GTSE model that can do 250 miles on a charge. Pistonheads says the batteries can be recharged in 10 minutes, though we're not sure if that's just a partial charge or the full monte. PH says to expect the GTSE model word on prices yet, but expect a top-range GTSE to set you back £150,000. Gee.
Spy Photos: Tesla Roadster in the Arctic [internal]


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Last month we attended Parallels Summit to meet with new and existing partners, and hear from leading experts on the latest industry trends.
When you think of San Francisco, undoubtedly one bridge in particular comes to mind - The Golden Gate Bridge.
CloudFlare is heading to Parallels Summit in Las Vegas on Monday, February 4th to Wednesday, February 6th. We look forward to meeting and reconnecting with service providers and providing complimentary limo rides between the airport and the Caesars Palace hotel.
We enjoy working with companies who share a focus on website security. When GamaSec, an online web vulnerability-assessment service, inquired about ways to integrate
Forecasters have estimated that online holiday shopping will account for almost 25 percent of total ecommerce sales in 2012. That's more than $54 Billion dollars in online transactions.


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Can the once-mighty Canadian auto industry ride Volkswagen’s new battery plant back to its peak at the turn of the century?
In 1999, as people fretted about Y2K, Cher’s “Believe” topped the charts and the Maple Leafs missed the Stanley Cup in a semifinal loss to Buffalo, this country — mainly Ontario — churned out three million vehicles to keep a booming North American economy on wheels.
By last year, production had fallen to 1.2 million cars, SUVs, minivans and pickup trucks. More than 50,000 auto jobs vanished as employment in the sector dropped to 120,000 due to several factors.
There was the 2001 end of the auto pact that had integrated the Canadian and American industries; closed assembly and parts plants; the movement of production to the U.S. and Mexico; changing tastes in vehicles; the COVID-19 pandemic and a shortage of semiconductors.
“We may have hit the real depths,” says Angelo DiCaro, research director for Unifor, the union representing autoworkers. “Now we’re finally seeing an upswing.”
EV future uncertain
The electric vehicle revolution is kick-starting Ontario’s auto industry with $25 billion in investments over the last two years, but it’s not yet clear if the revival will lift the province to previous heights.
While multibillion-dollar EV battery factories slated for Windsor (Chrysler parent Stellantis with partner LG Energy Solutions) and St. Thomas (Volkswagen subsidiary PowerCo) are key to reversing Ontario’s auto fortunes, experts say a repeat of the glory days depends on getting more assembly plants.
“There are no seats on a battery,” quips Flavio Volpe, president of the Automotive Parts Manufacturers’ Association, in a reference to the myriad parts and long chain of suppliers needed to build an automobile.
It’s estimated every auto assembly job creates up to nine other jobs, making the industry a key driver of the Canadian economy as the federal government gears up to ban the sale of fossil-fuel vehicles by 2035.
“Nothing really generates spinoff benefits like an assembly plant,” says Greig Mordue, an assistant professor of advanced manufacturing policy at McMaster University and a former auto executive. He is wary of the up to $13.2 billion in federal tax credits used to lure VW without a full “value chain” of suppliers.
Volkswagen’s closest auto assembly plants are in Tennessee and Mexico.
The federal and Ontario governments are also giving the German company $700 million and $500 million, respectively, toward building a $7-billion plant that will be 1.6 kilometres long, one kilometre wide, and make enough batteries for one million vehicles annually.
Ontario’s tipping point?
Fingers are crossed that Ontario is reaching a tipping point where Volkswagen or a rival could come with a new assembly plant to take advantage of the “battery belt” that Premier Doug Ford and Ontario Economic Development Minister Vic Fedeli are touting to automakers, highlighting the province’s reserves of rare minerals crucial to production.
“Is it possible to get back to where we were? Well, these are private businesses, multinationals, making multibillion-dollar decisions, but we certainly have set the table for them to look at Ontario,” Fedeli says, noting the province has reduced costs like workplace compensation premiums and provides cleaner power than most jurisdictions.
“You have to think of how unique Ontario is. We’re the No. 2 automaker in North America behind Michigan.”
Volpe says he has recently been in “high-level discussions” with two undisclosed automakers not now manufacturing in Canada. His association has also spearheaded Project Arrow, an all-Canadian effort to design and build an EV, with a prototype now on the auto show circuit.
Ontario is also the only North American jurisdiction able to boast five manufacturers — Stellantis (Chrysler, Dodge, Ram, Jeep, Fiat), Ford, General Motors, Toyota and Honda — at assembly plants in Windsor, Ingersoll, Woodstock, Cambridge, Oakville, Brampton, Oshawa and Alliston.
Batteries to be made at the St. Thomas factory, one of three such Volkswagen facilities in the world, will power some 26 new models of VW, Audi and Scout vehicles by the end of the decade. PowerCo chief executive Frank Blome spoke two weeks ago in St. Thomas of the automaker’s “ambitious growth plan” for North America. VW is reviving the old Scout brand pioneered by International Harvester, and will make EV sport utility vehicles and pickup trucks at a plant in Columbia, S.C.
“We definitely have an opportunity to add that sixth or seventh manufacturer,” says Volpe, who worked for former Liberal economic development minister Sandra Pupatello more than a decade ago when a VW plant Ontario was after went to Chattanooga, Tenn.
“Shoot to kill”
“We underbid,” he adds ruefully, offering this advice: “We’ve got to shoot to kill … they are more likely to invest in a place where they can make the batteries.”
Fedeli, who will make another trip to Germany in two weeks for more meetings with Volkswagen as it builds a supplier base, says the EV battery plant will create significant spinoff work because of the complicated mix of components required, such as cathodes, anode separators, copper foil and lithium hydroxide.
About 3,000 jobs are expected at the battery plant with another 30,000 at suppliers and in the community, which lost the Ford assembly plant making full-sized Crown Victoria sedans in nearby Talbotville 12 years ago. At its peak, the factory employed 3,600.
“The immediate focus is landing these major suppliers because VW wants to break ground in January of 2024. They want to be operational in 2027,” adds Fedeli, whose Progressive Conservative government was elected in 2018 and will be vying for a third term in 2026.
“We have made it really clear from the beginning that we’re prepared to invest money in saving the auto industry. It was on a downward spiral headed over the border to the States.”
Brampton plant retooling
More announcements are expected in the coming months.
At Unifor, which also represents Toronto Star workers, DiCaro says Fedeli was not exaggerating the perils before EV developments started to break Ontario’s way, in particular with news of the $5-billion Windsor battery plant just over a year ago.
Stellantis has since announced a $1-billion retooling of its Brampton assembly plant to make EVs, once production of Dodge Charger and Challenger muscle cars ends there later this year.
“I remember conversations where people legitimately were questioning whether Canada would have an auto industry in the coming decades — like Australia, where the companies left,” DiCaro says.
Unifor is counting on the EV battery and related plants becoming a “landing spot” for autoworkers who lose their jobs as gasoline-powered cars are phased out, along with the internal combustion engines and transmissions that go in them.
The union estimates 30 per cent of workers are vulnerable because “they’re making stuff you don’t need in an EV,” says DiCaro.
“As exciting as it is now, we try not to get too drunk on the champagne because there are going to be problems … we’re going to have a transition problem.”
This is partly why Ontario is going hard after the EV business, says Fedeli, pointing to the Volkswagen plant as the latest example.
It follows a recent announcement from Ford that the Detroit-based automaker will spend $1.8 billion to turn its Oakville assembly plant into an EV hub, and GM’s February pledge to build electric vehicle motors at its propulsion plant in St. Catharines for use in BrightDrop delivery vans built in Ingersoll — and in pickup trucks.
“It will be here for generations,” the minister says of VW. “People will have jobs for generations. The corner store will expand. The hardware store will expand. It really is the right investment to secure workers.”


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Last month, it was announced that Pat McGrath Labs, the eponymous beauty brand of the acclaimed makeup artist, had reached a valuation of over $1 billion after less than two years in business. Naturally, McGrath is celebrating, and there's plenty to be excited about for the company's future. For instance, the beloved beauty mogul just unveiled ten new shades of her famed MatteTrance lipstick, much to the delight of fans everywhere.
According to Elle, the new tubes stay true to the moisture-rich, long-lasting formula that made MatteTrance a 2017 Allure Best of Beauty award winner. Ranging from an electric purple (Magnetic Magenta) to a soft crimson (Flesh 5), the new additions bring MatteTrance’s total shade count to a whopping 30 varieties.
McGrath has also revealed that a few of the shades were named after some of her “supermuses.” The deep red Guinevere, for instance, takes its title from model and fellow makeup artist Guinevere van Seenus. The mauve Christy and orange-red Elson 2 are dedicated to '80s supermodels Christy Turlington and Karen Elson, respectively.
Available at Sephora for $38 a pop, these little beauties just might be worth the investment. If you’re looking to splurge even more, be sure to check out the MatteTrance Legendary Lip Kit, featuring a Pat-approved pairing of a MatteTrance lipstick and PermaGel Ultra lip pencil, available for $50 at patmcgrath.com. Grab your fave while you can, and get ready to feel like a billion bucks.


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By Venessa Anthony
There has been a surge of online thrift stores popping up all over Instagram in the recent past, and by now it’s unlikely there is anyone who doesn’t have at least a small grasp on what online thrifting is. The trendy new way of shopping is getting more and more popular.
The idea of thrift shopping became a trend very quickly, but unlike most trends, thrifting has stuck around.
The Morning Brunch had a chat with Kumarini and Tiffahny Hoole, the two ladies behind Chakre Shop, an online thrift store that recently celebrated its second anniversary. Opening the store was a natural step for them; they found themselves owning way too many clothes. And as unlikely as it is to hear anyone say they have too many clothes, these two figured out a clever way to keep their wardrobe roaring with fresh, trendy clothes.
What does the ‘Chakre Shop’ mean?
We wanted our business to be meaningful to its core. The term “Chakre” (not Chakra) means “cycle” in Sinhala. Thrifting is essentially circular fashion. This is why we thought it to be most appropriate. But the cycle we had in mind wasn’t merely where a customer purchases an item previously owned by another; we wanted it to be something that would also allow their money to be channelled towards a charitable cause.
Why use online thrift shops?
It’s a lot cheaper! And more often than not, the clothes are in pretty good condition. You can spot some amazing finds for a very low rate. You get to pick from millions of clothing items at extremely discounted prices, and above that, bidding and negotiations are available from almost all sellers.
It’s also a sustainable option; by choosing to thrift, you are also helping our environment. Fast fashion is a huge problem in the world today. Big chain brands produce thousands of items while exploiting workers. Workers get paid minimum wages for extremely hard work. Along with that, fast fashion also contributes to overproduction and pollution. Online thrift stores allow people to recycle old clothes and limit the number of people who buy from fast fashion.
How do you get the clothes that you sell on your page?
We receive clothes from third parties who approach us through our Instagram page. They’re required to send us pictures over direct message on Instagram along with their phone number and the most suitable drop-off location. Upon approving the items, we take pictures of the clothes, along with all their details including their measurements and branding. If we notice defects on the clothing after receiving them, we notify the owners and ask whether we can upcycle it.
Tips to thrifting
- Set a budget before you enter an auction. If you find your dream jumpsuit, you might find yourself getting caught up in the thrill of the bid and spending way more than you initially planned. There’s plenty of clothing in the world and your chance will come again.
- Try not to be too picky. Be more open-minded when it comes to selecting clothes; remember that you’re thrift shopping – there’s a chance you won’t find exactly what you’re looking for. You might even develop a new fashion sense!
- Since you don’t have the option of trying on clothes when online thrifting, it’s always good to know your exact measurements. Keep in mind that these are pre-loved clothes; there’s a chance they may have shrunk after being washed or expanded after being worn.


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Along with Twistees, Kinnie, pastizzi and Eurovision, Cisk is one the first things most people associate with Malta whether they’re visiting for the first time or they’ve been living on the island for their whole lives. Now, another couple of medals have been awarded to the national beer to confirm just how awesome it is.
Cisk Lager, the most popular iteration, won the silver medal at the Australian International Beer Awards, the largest beer competition in the world. The Pilsner iteration, on the other hand, took home the bronze in the German Style Pilsner category. And as you might have expected, this isn’t the first time Cisk returned to our shores with honours.
The famous Cisk Lager alone has six other awards, one of which was a gold (and overall winner!) award at the 1995 edition of the same AIBAs. Ten years ago, it had even been crowned the World’s Best Standard Lager, and it’s been taking home prestigious awards ever since the U.K. Brewex Awards in 1980.
This is the first time that the Cisk Pilsner has won an award, but seeing as it was introduced just one year ago, it looks like it’s already set for another round of perfect records.
It sure seems like there’s no stopping Cisk, especially with summer a couple of days away. Crack open a cold one for us!
Featured Image by andresibiri


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STRIP DISTRICT (KDKA) – For 60 years, Mike Feinberg Company has been a staple in the Strip District. Now, the Feinberg family has decided to close the store.
The store specializes in items that are uniquely Pittsburgh, especially when it comes to sports. Steelers, Penguins and Pirates fans have been flocking to the store for years.
It’s located in the 1700 block of Penn Avenue, right where it has been since the mid 1950s.
Mike Feinberg started the business with his wife, Sylvia.
“He was a salesman,” says Feinberg’s daughter, Marcia. “He started out with bikes and stuffed animals… just things that he could sell from door to door. And then…it just evolved into this.”
Mike Feinberg quickly realized what Pittsburghers wanted was to support their sports teams in any way they could.
“Things evolved into Steelers merchandise. He started out with some black and gold balloons, and before you knew it, we had all this Steelers merchandise, Pirates, Penguins, party supplies, anything you can think of,” says Marcia.
But in 2007, Mike Feinberg passed away.
“He stayed here almost to the end before he passed away, and that’s going to be 11 years ago,” says Marcia. “I took it over after that.”
Feinberg’s is known as the Party King. They sell decorations, gag gifts, and more, but their best sellers are their sports items.
“Anything and everything that everybody doesn’t need, but has to have,” says Marcia. “Everything is always discounted, it’s just like a little kingdom of treasures… A Steelers shot glass mug, a Pittsburgh magnet, a Terrible Towel, a Whoopee cushion, a switchblade comb, an inflatable palm tree, anything and everything.”
If you can’t find it at Feinberg’s, then you probably can’t find it anywhere.
But, times change.
Eventually, the family made the difficult decision to sell the building.
“It wasn’t an easy decision,” says Marcia. “It has been over multiple years that we’ve been thinking about it, and it’s just the right time now…We’ve been here for 60 years. We gave Pittsburgh everything we could. I love Pittsburgh.”
As for Mike Feinberg’s legacy, his daughter says there are other projects in the works.
The store will likely close at the end of March of the end or April. The family is still deciding.
“I’m not looking forward to it,” says Marcia. “But, I do want to tell you that March 26 is going to be Mike Feinberg Day in the Strip [District]. A proclamation has been filed, and it will be official. We’re going to be open on Sunday. We’re going to have special sales, prizes, gifts, candy, just a celebration of Mike Feinberg.”


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- Budget 2020 was presented on 1st February by Nirmala Sitharaman, Union Finance Minister
- National Technical Textile Mission announced
The Union Budget Session 2020-21 was conducted on 1st February. The budget was presented on Saturday by Union Finance Minister Nirmala Sitharaman. Various industries estimated to have a production boost due to the changed tax structure. T....
Tags : Budget 2020, Textile Industry, National Technical Textile Mission, Purified Terephthalic Acid, NIRVIK, technical textiles, fashion tech,


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Those browsing Bonhams’ catalog for its Amelia Island auction might have noticed that a large percentage of the folder is taken up by classic British motorcycles.
The reason is the inclusion of the Charles Jacobs Collection, 46 motorcycles amassed over the years by the late Jacksonville, Florida resident and regular entrant in the Amelia Island Concours d’Elegance motorcycle class.
While Bonhams’ annual Amelia Island auction, held this year on March 3, is usually dedicated to classic cars, Jacobs motorcycles make up a good proportion of the 180 vehicles that will pass through the block.
“Offered entirely without reserve, the (Jacobs) collection includes some of the most prestigious and rare names in British motorcycling history – from Brough Superior to Vincent – and offers motorcycling enthusiasts a rare opportunity to acquire these examples of its golden age,” Bonhams said in a press release. “In addition, proceeds from the sale of one of the lots, a 1954 Norton Big 4, will be donated to a local charity.”
Motorcycle group highlights include:
1936 Brough Superior SS-80 Incomparable, known as the Rolls-Royce of motorcycles, with a polished Watsonian sidecar fitted to the left side for British roads. Estimated value between $80,000 and $100,000.
1951 Vincent 499cc Cometestimated between $20,000 and $30,000, presented at the Amelia Island competition.
Circa-1927 Grindlay Peerless SO4 Model 350 Single-port JAP “Dog Ear”, a rare machine from the short-lived pre-war British sidecar turned motorcycle manufacturer, which produced the first 500cc motorcycle to exceed 100mph on British soil. Estimated between $30,000 and $40,000.
1934 Ariel 4F Square Four, also known as the Squariel, this innovative model remains unique in motorcycle history, with its unique four-cylinder block and twin geared crankshafts with 180-degree phased pistons. Estimated between $25,000 and $35,000.
1938 Triumph Tiger 90, an overhead valve single that was part of a revamped Triumph range introduced in 1937, created by chief designer Edward Turner, who had previously been responsible for the Ariel Square Four. Estimated between $20,000 and $30,000.
1963 BSA 499cc Gold Star, one of the last examples of BSA’s legendary café racer, one of the most successful production motorcycles. “This DBD 500cc model is considered the ultimate ‘Goldie’ with its famous RRT2 close ratio gearbox and standard 190mm front brake,” Bonhams says in its description. Estimated between $15,000 and $20,000.
1954 Norton Big 4, named after the company’s first motorcycle driven by its own in-house engine, the 633cc ‘Big 4’ was the most powerful machine in Norton’s lineup. Proceeds from the sale of this motorcycle will benefit Spina Bifida of Jacksonville. Estimated between $8,000 and $12,000.
“Motorcycles have rarely been offered at the various auctions held over the years during Amelia Island Concours week, and Bonhams is delighted to finally fill that gap with the Charles Jacobs collection,” said Mathieu Guyot- Sionnest, Bonhams US Motoring specialist.
In addition to these 46 motorcycles, eight cars will be offered from the Jacobs collection, all without reserve, led by an elegant 1934 Packard Series 1101 Eight Club Sedan, estimated between $70,000 and $90,000.
The Bonhams live auction will take place at the Fernandina Beach Golf Club on Thursday, March 3, starting at 10 a.m. for motorcycles and automobilia, and 1 p.m. for automobiles.
For more information, visit the Bonhams website.


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Good news for overseas Pakistanis!
The SBP announced the plan to launch the scheme in a statement posted on Wednesday.
“Through the Roshan Digital Account, overseas Pakistanis can now acquire or obtain finance for residences in Pakistan,” it stated. “The Roshan Digital Account is a key State Bank of Pakistan initiative that was introduced on September 10, 2020 in partnership with commercial banks operating in Pakistan.”
Millions of overseas Pakistanis intending to conduct banking, payment, and investment operations in Pakistan can now do so through these accounts, according to the central bank.
Several financial products have been made available to abroad Pakistanis as part of the project, including Naya Pakistan Certificates for investment, Roshan Apni Auto for car finance, and Roshan Samaaji Khidmat for charitable donations.
According to the company, “Roshan Apna Ghar is a new lifestyle banking product in the same category.” “Overseas Pakistanis can now buy or get financing from the comfort of their homes abroad, without having to go to a bank branch.”
Expatriates might also buy or finance a home or other property from a bank’s pre-approved projects, according to the central bank.
The tax system is straightforward and conclusive. In the event of a property sale, the principle amount invested can be transmitted to another country without the need for approval.
“Profit margins are appealing. The SBP stated that “financing is available in both conventional and Shariah-compliant forms.”


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NEWS: 04.20.20- Apple has released three new products to-date in 2020 and according to various reports across the web, a number of other hardware, devices, and accessories in the works by the Cupertino, California-based company are still in store scheduled for release between now and the end of the year.
In a report last week from the business and financial news outlet, Bloomberg, it was revealed by people familiar with the matter — aside from specific details learned in regard to the annual refresh of the iPhone lineup (expected to be due out sometime in the Fall) — that Apple will be releasing an update to one of its audio products while introducing a totally brand new device to its offerings (the latter of which will compete with a similar gadget already out on the market).
So far this year, Apple has released three new products: a fourth generation iPad Pro, a second revision of its third generation MacBook Air, and a second generation iPhone SE (the latter of which was just announced last Wednesday).
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As far as the forthcoming product lineup from Apple for 2020 is concerned, per Bloomberg, based on information from people familiar with the plans (who asked the business and financial news outlet not to identify them by name as the details were not to be made public), this year’s successors to the iPhone 11 Pro and iPhone 11 Pro Max will be joined by two lower-end models to replace the iPhone 11. The company, according to people who have seen prototypes of the two products, also has been developing a smaller and cheaper version of its HomePod smart speaker (to be released as early as this year), and new devices dubbed “Apple Tags” (which will let users track objects such as keys and wallets).
According to the people with knowledge of the upcoming Apple smartphones, in addition to sporting updated 5G connectivity, all of the new iPhone models are planned to include a significant upgrade to its processor (an A14 chip) with an emphasis on improving the speed and performance of tasks which utilize artificial intelligence (AI) and augmented reality (AR).
Photography-wise, three cameras will be included on the back of the two high-end new iPhones while the lower-end phones will continue to have two cameras (just as the current lineup does). Apple also will be adding the 3D LIDAR scanner system — a technology that debuted with the fourth generation iPad Pro that was released a month ago in March of this year — to its top-tier smartphones, which, according to Bloomberg, will set the stage for advances in AR apps.
The people also divulged to Bloomberg that the upcoming Pro models of the iPhone will be similar in design, but not in size, to the iPhone 5 from 2012, with flat glass panels instead of a curved design as well as stainless steel and leveled, rather than sloping, edges. Plus, the new phones will have more sharply rounded corners like those of the second generation iPad Pro from 2018. Furthermore, the highest-end Apple smartphone model is set to have a display slightly larger than the 6.5-inch screen currently found on the iPhone 11 Pro Max.
Apple also, per the business and financial news outlet, is likely to reduce the size of the so called, notch, with this year’s models.
Bloomberg reported that the company is investigating removing the cutout at the top of the display for the Face ID sensors and front-facing camera in future designs.
On Apple’s smart speaker, people familiar with the device told the business and financial news outlet that the new HomePod — which has been in development for several months and has faced many delays — will be about half the size of the original model while keeping a similar design. Bloomberg reported that Apple is targeting a release for the audio product in the second half of this year.
Bloomberg noted that while the HomePod largely has been seen as a failure in terms of sales, its superior sound quality remains a competitive advantage over much lower-priced smart speakers from rivals Amazon and Google, and, lowering its cost would help Apple to compete better against those companies’ devices. Also, according to the business and financial news outlet, the HomePod’s comparative lack of success has been attributed to its narrower compatibility with other smart home / audio products, music streaming services outside of Apple Music, and the limited functionality of Apple’s AI-based virtual assistant, Siri.
Aside from hiring a team to revamp its smart home product efforts, according to the business and financial news outlet, Apple is planning to add additional music streaming services to its HomePod and has been acquiring AI startups to help it improve Siri on the device.
A totally brand new product forthcoming from Apple, though not its own innovation, are the wireless tracking devices dubbed by the sources of Bloomberg as “Apple Tags” — officially referred to as AirTags by the company itself in a support video on its YouTube channel on the web (one that since has been taken down) — which will offer functionality much like gadgets already on the market like Tile trackers. According to the people who spoke to the business and financial news outlet, the device will be bundled with an Apple-designed leather sleeve and a keychain to attach it to objects.
The business and financial news outlet reported that the thin, small, and puck-shaped wireless tracking devices from Apple have been in development for over 12 months and are planned for release as early as this year.
One other audio product, a new wearable accessory that Apple hitherto has been purported to be working on for quite some time now, are a pair of wireless high end over-the-ear headphones — yet to be given a name — which reportedly will be a third model to complement the AirPods and AirPods Pro lineup.
Last month, the Apple-centric news website, 9to5Mac, reported that it had discovered a leak in the code from a beta version of iOS 14 which revealed a first look at the design of Apple’s high end over-the-ear headphones. Notable from the discovery were two icons in the as yet to be released mobile operating system which were used to represent light and dark versions of the new wearable accessory, found alongside the battery and charging status indicators.
Each icon, aside from giving an idea of the two colors that possibly will be available — white and black (or space gray) — also gave an idea of the size of each headphone and the amount of padding on each cup and band.
According to 9to5Mac, the Apple-branded high end over-the-ear headphones — which reportedly will have AirPods-like features — were rumored to be released in 2018, however, per initial reports from Apple’s supply chain, design issues were the reason for the delay. The website reported that despite the company missing the original launch window, one renowned Apple analyst advised investors in January of this year that the new wearable accessory was expected to ship sometime in 2020.
In a separate report last Thursday following its initial one from last Monday, Bloomberg reported as well that Apple was developing high end over-the-ear headphones with previously undisclosed details which revealed that the new wearable accessory will have interchangeable parts. According to people familiar with the matter (who asked not to be identified since they were discussing products that have not been announced yet), the company is working on at least two variations: a premium version with leather-like fabrics and a fitness focused model that uses lighter breathable materials with small perforations.
Prototypes of the new wearable accessory have a retro look with oval-shaped ear cups that swivel and a headband connected by thin metal arms which stem from the top of the ear cups rather than the sides. The ear pads and headband padding attach magnetically to the frame of the over-the-ear headphones so they can be replaced by the user.
Bloomberg reported that this approach by Apple is more modular design-wise, and, based on the information given by the people who spoke with the business and financial news outlet, will allow users to customize the new wearable accessory (e.g., like one can do with the Apple Watch). The design may also mean the same set of over-the-ear headphones would be able to be converted between comfort and fitness use then back again due to its interchangeable parts.
According to people familiar with the progress of the new wearable accessory, the over-the-ear headphones have been in development since at least 2018 — corroborating the earlier report from 9to5Mac — and its launch already has been postponed at least twice.
Per the business and financial news outlet, in addition to the AirPods and AirPods Pro, the high end over-the-ear headphones are part of a broader audio products strategy by the company that also includes the HomePod. Bloomberg reported that Apple aims to unveil the new wearable accessory later this year.
In a Macworld magazine article published on its website just days before the previously referenced initial report from last Monday by Bloomberg, contributor Dan Moren shared details about new Apple products that were known to be coming soon — the unnamed high end over-the-ear headphones, the upcoming AirTags, and the second generation iPhone SE (the latter of which, at the time, had yet to be announced) — based on leaks from various sources. According to the writer, despite valiantly trying to keep its cards close to its chest, eagle-eyed enthusiasts have been poring over everything from support documents to underlying code (e.g., beta versions of MacOS or iOS) in order to find hints about what the Cupertino, California-based company’s next project will be.
“Apple’s not quite the den of secrecy it once was, so we have a pretty good idea of at least a few products to expect,” wrote Moren.
“The Apple of today is not the Apple of yesteryear. In the Steve Jobs era, secrecy over future products was an obsession, and while the company still likes to keep tight-lipped, it seems sometimes as though it’s so large and working on so many different things, that information about those products can’t help but leak out, like mustard from an overfull sandwich.”
Bloomberg also reported last week in its initial report that Apple currently is working on other new products based on information revealed by the people familiar with the company’s product roadmap: hardware and devices from a new Apple TV and iMac, to refreshed budget models of the iPad, and — most notably — a brand new version of the MacBook Pro (possibly a rumored 14-inch model with a mini-LED display as first revealed in early March by the website MacRumors).


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The global recorded music industry is on a path to recovery, fuelled by licensed digital music services and rapid expansion into new markets internationally. Recorded music is also helping drive a broader digital economy, according this report.
Global recorded music industry revenues rose by an estimated 0.3 per cent to US$16.5 billion in 2012, the first year of industry growth since 1999. Digital revenues saw accelerating growth for the second year running, up 9 per cent, with most major digital revenue streams - downloads, subscription and advertising-supported - on the rise.
The digital music business is globalising fast, as smartphones and new licensed services span new and emerging markets. In January 2011, the major international download and subscription services were present in 23 markets. Today, they are in more than 100.
Licensed music services are demonstrably meeting consumers' needs. New consumer research published today by Ipsos MediaCT, covering nine markets in four continents, shows that 62 per cent of internet users have used a licensed music service in the last six months. (A summary of the Ipsos MediaCT research is provided in annex)
Canadian artist Carly Rae Jepsen topped the 2012 global singles chart with Call Me Maybe. British singer-songwriter Adele achieved phenomenal success with 21, the first album to top the global albums chart for two consecutive years since IFPI began reporting global best sellers in 2001.
Despite the optimism, key barriers to further growth remain - the biggest being unfair competition from unlicensed music services. Governments have a key role to play in addressing this problem. The key priority remains to secure effective cooperation from intermediaries including advertisers, ISPs and search engines, who have a major influence on levels of copyright infringement.


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OTB set to boost China presence with four new stores
Italian fashion group OTB will be boosting its presence in China by opening four major new stores in Shanghai. In March 2022, Maison Margiela, Jil Sander, Marni and Amiri will open stores in the city’s JC Plaza shopping mall, located on Nanjing Road, a major commercial thoroughfare lined with two-storey shops. The goal for the group owned by Renzo Rosso is to double the number of monobrand stores it operates in China in the next three years.
The planned Shanghai store would notably be the first address in China for high-end Californian denim label Amiri, in which OTB holds a minority stake. For Jil Sander, it would be the first store opened in Shanghai. The German label, which was bought by OTB in March and has 34 monobrand stores worldwide, is also planning to open a New York flagship next year.
OTB currently operates 80 stores in 16 Chinese cities. The four new addresses will combine traditional and interactive retail space, offering customers the chance to enjoy “an immersive experience,” as the group stated in a press release.
OTB has recently opened official accounts on China’s leading social media platforms, like WeChat and Weibo. OTB labels Diesel, Maison Margiela and Marni have successfully deployed promotional programmes on WeChat and Tmall, the e-tailer owned by the Alibaba group, recording sales increases in excess of 140%, as indicated by OTB, which stated that its “online business is growing significantly.”
For 2021, OTB is forecasting a revenue of €1.5 billion, and is chiefly relying on the relaunch of its best-selling denim label, Diesel, having put inventive Belgian designer Glenn Martens in charge of style a year ago. The group is investing heavily in Diesel, for which it has deployed multiple initiatives this year. Marni too has grown significantly in 2021, driven by the accessories category, which accounts for 70% if its total sales.
Copyright © 2023 FashionNetwork.com All rights reserved.


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Why the 49ers Train Wears that Red Trucker Hat on the Sidelines
Maybe you’ve noticed the red trucker hat that Kyle Shanahan, the head trainer of the San Francisco 49ers, has actually been wearing on the sidelines. Twitter absolutely has.
” Kyle Shanahan’s hat[get it here] might too claim ‘I Vape,'” one customer tweeted in November.
One more created that the retro snapback, with its mesh back, level brim and little 49ers logo, makes Mr. Shanahan appear like he’s ready “to organize an MTV Real World/Road Policy challenge.” It is “so San Francisco tech bro it’s nearly saying,” in words of yet one more.
Laugh all you desire yet the supposed Shanahat is sold out before this Sunday’s Super Dish in between the San Francisco 49ers and also the Kansas City Chiefs, without brand-new supply up until the end of February, according to New Period, the cap’s maker.
The hat[custom printed trucker hats], which retails for $35.99, was selling on ebay.com for upward of $399.99 in recent weeks.
Greater than making him a Twitter target, the hat[custom patch hats], which Mr. Shanahan developed himself in both red as well as black versions, and usually couple with a minimal white 49ers coat, has actually turned the 40-year-old instructor into a design disrupter. He is arguably the very first N.F.L. train in years, otherwise years, to strike a fashion-forward look on the football sidelines.
His fashion perceptiveness is not lost on his gamers. “I can not wait to get house and also inform my better half the head trainer is putting on Yeezys,” Emmanuel Sanders, the 49ers pass receiver, told the San Francisco Examiner last October, describing the Adidas tennis shoes by Kanye West. “I was like, ‘That’s great, this is one trendy trainer.'” Certain, other trainers do take care of to make the occasional sartorial statement, for far better or worse. Bill Belichick of the New England Patriots arrived for his hoodies, although he states his trademark sweatshirts are not a style statement: “I just placed on whatever exists,” he has actually stated. (Costs, it shows.).
And after that there’s this year’s various other Super Bowl train: Andy Reid of the Kansas City Chiefs, that is typically discovered using Hawaiian t-shirts. (In tribute, several Chiefs players sported Hawaiian t shirts when they came to the Miami flight terminal ahead of Sunday’s game.) Yet on game days, Mr. Reid uses the very same team-branded polo shirts and wind breakers that have come to be the de facto uniform of N.F.L. trainers.


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J&H Foods, parent company of Simple Simon’s Pizza, announced the upcoming opening of a new Simple Simon’s Pizza location in Loreauville, Louisiana. Craig and Sandy Girouard are piloting the company’s first franchise location in the Louisiana market and are extremely excited about the opportunity. The new location will be located at 106 N. Main St., Loreauville, Louisiana 70552.
“We are excited to introduce our brand to the market and we can’t wait to share our quality products and great customer service to the great people of Louisiana!” says J&H Foods CEO B.J. DuMond.
The location is currently under construction and plans to open in the fall. Follow the Facebook page for the location at Simple Simon’s Pizza- Loreauville. Customers can expect a streamlined operation geared towards carry-out and curbside pick-up. The classic Simple Simon’s menu will feature the same great favorites and of course, “The Original Calizone” – The signature item of SSP.


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Jul 24, 2017
The top three finalists in the 2017 Championship Boerewors competition were announced at the Top 18 Round in Cape Town on Saturday, 22 July 2017. The competition was tough, but the recipes of James Lebepe (from Atteridgeville, Gauteng), Moses Mathebula (from Lenyenye, Limpopo) and Queen Mathebula (from Malamulele, Limpopo) proved to be a cut above the rest.
The top three recipes will be available in Shoprite and Checkers supermarkets throughout South Africa between Friday, 18 August and Friday, 8 September. Then it will be up to the South African public to buy, braai, try and vote for the recipe they believe deserves to win the coveted 25th Championship Boerewors title. By doing so, one lucky consumer stands the chance of winning a brand new Toyota Aygo.
The winner of the 2017 Championship Boerewors competition will be announced on Wednesday, 13 September and will drive off in a brand-new Toyota Hilux 2.8 GD-6 Double Cab Raised Body Raider. The winning recipe – #SAsNo1 Championship Boerewors – will also be for sale in all Shoprite and Checkers stores from Friday, 15 September 2017, just in time for Heritage Day.
Shoprite and Checkers are proud of South Africa’s boerewors tradition and celebrate it every year by hosting the Championship Boerewors competition.


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Lexington, Ky. — Ten years ago, the future of America’s oldest chain restaurant franchise was in question. A&W, owned by YUM! Brands, was struggling. But then a group of franchise owners formed a partnership and bought the company, which was 92 years old at the time, on Dec. 19, 2011. A&W is still the only major restaurant brand 100% owned by its franchisees. Since the acquisition:
- Same-store sales have increased every year, reversing 7 years of declines; sales this year are up 10.2%, following last year’s 9.2% growth.
- Average unit sales are up almost 50%.
- Nearly 70 new restaurants have opened, with more than 20 locations in development.
“Most franchisees were excited to be on our own,” says Kevin Klein, chairman of the National A&W Franchisee Association (NAWFA), which is a significant partner. “Being under franchisee ownership allowed us to control our own destiny, which was thrilling and scary at the same time. We felt that our chain was being forced into co-branding with other concepts, which in many instances was not the right fit. We were a tiny part of a very large company, and we felt lost.”
NAWFA’s first move was to ask former president Kevin Bazner to return. Bazner, who spent much of his career with A&W until YUM! acquired it in 2003, gladly accepted the opportunity. “I knew how dedicated the franchisees were to the A&W brand,” he says. “Their hard work and commitment have brought us to where we are today.”
Under Bazner’s leadership, A&W moved away from the co-brand strategy, and today is building single-brand restaurants. Unlike most quick-service chains, it has shied away from discounting, instead focusing on quality. A&W resumed making its signature Root Beer fresh in each restaurant.
“Too many brands try to be all things to all people,” Bazner says. “Our success is directly tied to understanding our guests, serving food they want and providing great service.”
Equally important is understanding franchisees’ needs, which Klein says comes naturally, since they own the company. NAWFA has a say in all key decisions, meeting at least monthly with Bazner and the leadership team. “The support staff at A&W actually wants to know what we think, which is practically unheard of in most companies,” Klein says. “Many chains say they listen to franchisees, but A&W proves it in every call, in-person meeting and store visit.”
Klein notes that franchisee ownership also has created stability that is unusual in the chain restaurant industry. Franchise and support team leaders typically have 20 years or more of experience with the brand. “This has resulted in many great relationships being formed between A&W and franchisees,” he says. “When we are at board meetings, state franchisee meetings or conventions, there are always more hugs than handshakes. It’s just the way we’ve always been, and I don’t see that changing.”
Since the sale, A&W has welcomed dozens of new franchise partners who have embraced the brand and brought fresh ideas for the future. “The franchisee base we have today is really the ‘best of the best’ compared to 10 or 20 years ago,” Klein says. “They’ve learned how to survive through hard times, which gives them the confidence to take on any challenge.”
According to Bazner, interest among prospective franchisees is at the highest level since 2011. “Along with our sales growth, A&W has amazing brand recognition,” he said. “We have far more open territories than other burger brands, and our ownership model is very appealing.”
Now in its 102nd year, A&W is America’s oldest franchised restaurant chain. Known for its All American Food, as well as Root Beer that is made fresh in each restaurant and served in frosty mugs, there are more than 900 A&Ws in the U.S. and Asia. For more information, visit www.awrestaurants.com and www.awfranchising.com.
SOURCE: A&W Restaurants


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- Prachi Singh |
HanesBrands for the full-year 2014 reported net sales increase of 15 percent, with adjusted operating profit increasing 28 percent, and adjusted EPS rising 45 percent. Net sales for the fourth quarter increased 18 percent to 1.52 billion dollars compared with the year-ago quarter. On a constant-currency basis, net sales increased 19 percent in the fourth quarter and 16 percent for the full year.
The company’s record results and strong fourth-quarter performance were driven by supply chain manufacturing performance, benefits from the acquisitions of Maidenform Brands and DB Apparel, and continued strong contributions from Innovate-to-Elevate product platforms.
Hanes has issued 2015 full-year guidance, including expectations for net sales growth of approximately 9 percent or approximately 5.775 billion dollars to 5.825 billion dollars, adjusted operating profit growth of 9 percent to 12 percent or approximately 835 million dollars to 855 million dollars, and adjusted EPS growth of 11 percent to 15 percent or about 6.30 dollars to 6.50 dollars despite significant negative impacts from foreign currency exchange rates.
Adjusted EPS in the fourth quarter increased 49 percent to 1.46 dollars. On a GAAP basis, diluted EPS was 0.88 dollars in the quarter versus 0.32 dollars a year ago and was 3.97 dollars for the year, up from 3.25 dollars a year ago.
“We had another outstanding year in 2014, generating significant shareholder value and again achieving record results for sales, operating profit and EPS,” Hanes Chairman and Chief Executive Officer Richard A. Noll said, adding, “We are in the midst of a multiyear period of strong growth supported by our powerful company-owned global supply chain, Innovate-to-Elevate product platforms, and acquisitions. Our guidance for 2015 translates into another year of double-digit EPS growth and what would be another record year for sales, profit and EPS, despite the challenges of currency exchange rates.”
The company’s adjusted operating profit margin for the year increased 140 basis points to 14.3 percent of sales. For the fourth quarter, adjusted operating profit increased 31 percent to 200 million dollars, and full-year adjusted operating profit increased 28 percent to 763 million dollars. On a GAAP basis, fourth-quarter operating profit was 131 million dollars versus 72 million dollars in the year-ago quarter, and full-year 2014 operating profit was 564 million dollars versus 515 million dollars last year.
Innerwear net sales were comparable in the fourth quarter to a year ago and increased 11 percent for the full year. Operating profit increased 17 percent in the fourth quarter and the full year. Hanes ComfortBlend and X-Temp underwear and socks and ComfortFlex Fit bras across multiple brands continue to do well. Innerwear’s operating profit margin of 21 percent in the fourth quarter increased 310 basis points, and for the full year the margin increased 130 basis points to 20.4 percent. Activewear net sales increased 10 percent in the fourth quarter and 8 percent for the full year. Champion sales, excluding those at mass retail, increased by more than 20 percent. Operating profit increased 10 percent in the quarter and 14 percent for the full year. The segment delivered record full-year profitability for the second consecutive year – a 13.7 operating margin, up 70 basis points.
International sales and operating profit increased as a result of acquisitions, but currency had a significant impact on results. On a constant-currency basis, international net sales increased 157 percent in the fourth quarter and 68 percent for the full year. Operating profit on a constant-currency basis increased 236 percent in the fourth quarter and 118 percent for the full year. The Direct to Consumer segment improved profitability for the second consecutive year. Net sales increased 1 percent in the fourth quarter and operating profit increased 29 percent. For the full year, net sales increased 8 percent with an operating profit increase of 17 percent.


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The most underrated console Nintendo ever made, the WiiU may be in trouble. Bricked Wii U consoles are becoming a major issue as the unpopular games consoles go years without use.
Nintendo fans have started to report that a dangerous dreaded Wii U memory error 160-0103 is popping up on their console GamePads. The terrifying memory error is a death sentence for any console.
Via Exputer, multiple reports have recently started to circulate across gaming forums such as ResetEra and Reddit regarding the same Wii U memory error. This error seemingly arrives after years of the console going unused.
Wii U memory error 160-0103 is a NAND issue for the Nintendo console. This error means that the console’s internal NAND memory has become corrupted, but there is a way to fix it.
If you have a softmodded console, you may be able to save your bricked Wii U. Those who softmodded their consoles prior to the memory error had the option to backup their NAND, allowing them to restore it if they wish.
Unfortunately, normal consoles suffering from the NAND error are not able to be saved. While Nintendo could save a bricked Wii U, they no longer offer support for the long-discontinued console.
As consoles age, they typically suffer from issues. For example, the lasers in Original PlayStation and Sega Saturn consoles are known to fail after a couple of decades. However, more modern consoles are also suffering from major issues.
Sony’s PlayStation 3 console is known to suffer from one major issue that may stop it from working long into the future. Last year, it was reported that PS3 and PS4 consoles can suffer from a CBOMB issue, rendering a console useless if their CMOS batteries expire. While PS4 owners no longer have to worry, PS3 owners are still in the dust.
Nintendo may release a software patch to fix the bricked Wii U issues. However, with the company already gearing up to release the Nintendo Switch 2, we doubt any focus is going to be placed on the black sheep console.


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As we reported in April, crypto hardware wallet leader Ledger teamed up with The Sandbox, a popular metaverse platform, to set up an education hub in the simulated social world.
At the time, it was just a concept. Now, it’s a reality. Not only did the Ledger team set up shop in The Sandbox, but it launched a Minecraft-style school that gamifies cryptocurrency education. Players can learn about the blockchain, and its perils, while earning NFTs along the way — and they don’t need a crypto wallet to get started!
Ledger’s Minecraft-style ‘School of Block’
The Minecraft-inspired education hub is called “School of Block,” a nod to the blockchain, a technology that serves as the underlying engine behind many crypto assets, including Bitcoin, Ethereum, and NFTs.
According to a Ledger rep, School of Block throws gamers into fun challenges that teach them how to protect themselves from rising crypto scams. It’s a gamified twist to education that teaches users how to be “metaverse ready.” Although Web 3.0 is brimming with innovative protocols that could cause an explosive change in our society, the space is also crawling with cybercriminals who take advantage of ill-informed users. As such, with School of Block, Ledger discovered a fun, interactive way to teach the masses about the dangers of the crypto world.
On top of diving into challenges that heighten your crypto knowledge, you’ll go on a series of adventures to earn exclusive NFTs. Sweet!
As mentioned, School of Block is launching in The SandBox, a blockchain-based game fueled with a token called SAND. Users can get SAND from cryptocurrency exchanges like Coinbase (opens in new tab) — and use it to purchase NFTs, including real estate plots in the metaverse. Users can trade these simulated lands on OpenSea (an NFT marketplace).
Ledger is no stranger to helping people stay secure in the crypto world. The company offers popular hardware wallets such as the Ledger Nano S Plus and the Ledger Nano X, which lets users fortify the proverbial security walls that surround their treasured digital assets.


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TV star Lorraine Keane told how she was proud of her stretch marks and frown lines as she posed bravely unfiltered for a recent RSVP cover shoot.
The brunette beauty said she insisted on no Photoshop as she donned her bikini proudly, not hiding the scars of childbirth.
Lorraine stepped out this week to launch new skincare range Me Today.
Looking flawless, Lorraine, 48, told the Irish Mirror: “I did insist they didn’t filter the photos as I don’t think that’s fair.
“In the photos you can see my skin puckered on my stomach, where I carried two children.
“The photographer’s immediate reaction was to smooth that out for me and take away the lines on my face.
“I just felt you know what it’s not fair, I’m influenced by people and women in particular are very influenced by other women.
“I don’t think it’s right to not tell the story correctly.
“I think that’s probably why I’m still around because if you’re authentic and credible people respond.
“As much as it was lovely having that smooth tummy, I’m lucky that I said to the photographer 'put the photo in the way it was'.”
But gracing the cover scantily clad was a shock at first, she said.
Lorraine added: “I got a bit of a fright when I saw myself on the front cover in the bikini, I mean I didn’t do it in my 20s or 30s and now here I am!
The mum-of-two credits Pilates for her washboard abs.
She said: “I’ve been doing Sway Pilates on zoom, the whole way through lockdown which I really love, so I haven’t had to fight traffic to get there, so no stress.
“I’m contemplating going back to the gym next week, I think as women when we get older we need to do weights, but I don’t like weights.”
Lorraine insists being happy that our vital organs work is more important than worrying about the aging process.
She explained: “I think it’s all about being happy to be healthy and alive. Myself and my husband Peter lost five friends in the last five years before they turned 50.
“It’s like when you get to that stage of your life and you’re still around, it is a privilege.
“That’s one of the nicer things about being younger, youth is definitely wasted on the young.
“I still feel 25, my mother said she still feels 35, so I may get to 35 someday.”
Lorraine’s brainchild Fashion Relief, supporting Oxfam to help the most impoverished across the globe, went online during the pandemic.
She said: “Fashion Relief is doing really well, the pop-up shop in Frascati and Fashion Relief TV.
“I set up the TV from my house, thank God for my former TV3 skillset that I gave out about once, because they made us produce, present, do everything.
“In the first year, Fashion Relief TV won two international awards, one in San Francisco and one in the UK, so I’m thrilled.”
Speaking about the launch, founder and CEO of Me Today Michael Kerr said: “We are very excited to see Me Today launch in Ireland with a new wellness routine.
“We want our Me Today fans to feel their best from the inside out and our natural range of skincare and supplements are specially formulated for this. We can’t wait for people in Ireland to unlock their best tomorrow.”
Lorraine was announced as a Me Today brand ambassador alongside fitness queen and influencer Maeve Madden.
Maeve Madden said: “Self-care is really important to me and something I believe we all need to focus on more in our daily lives.
“Slowing down isn’t always an option but taking some time each day to indulge in little wellness rituals can be a great reset.
“I love the ethos of Me Today and I’m absolutely thrilled to be working with the brand. I’m using the products as part of my own daily routine and love how they make me feel.”
Lorraine added: “There’s so much pressure on women nowadays to look a certain way and follow trends, but it doesn’t have to be complicated.
“I’m really passionate about empowering women of all ages to be the best version of themselves they can be, and this chimes with what Me Today is all about – a range of nurturing, quality products that can help you to feel good from the inside out.
“Their serums and oils have become a staple of my skincare routine since I started using them.”
Me Today is available now in pharmacies nationwide - see Me Today.
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A dodgy shopkeeper hid cheap, fake cigarettes in chocolate boxes and a secret staircase compartment in a bid to avoid capture.
Govan Amin, 33, was found with 6,400 counterfeit cigarettes and 7.2kgs of illicit hand-rolling tobacco following an investigation by West Yorkshire Trading Standards.
Undercover officers initially found Amin selling cut-price Marlboro Gold cigarettes at his shop, Mona Lisa, on Town Street Armley, following a complaint in 2013. The packets did not have the statutory health warnings.
Further inspections revealed illegal products in chocolate boxes and under plastic flowers in a store room.
Amin, of Strathmore Avenue, Harehills, initially claimed he did not know the products were banned and vowed to stop selling them.
But a further inspection using a sniffer dog uncovered more cigarettes hidden in the bottom step of a staircase.
Amin, who blamed his staff, was charged with 10 trademark and fraud offences.
He pleaded guilty at Leeds Magistrates’ Court and was sentenced to a 12-month community order with 120 hours of unpaid work and ordered to pay £200 of court costs.
David Lodge, head of West Yorkshire Trading Standards, said: “We are committed to the fight against illegal tobacco. By taking tough action and working with partners this operation has taken a significant amount of illegal tobacco off the streets.”
Coun Bill Urry, of the West Yorkshire Trading Standards Committee, said: “The supply of illegal tobacco remains a problem in our local communities.
“While we know smoking kills, illegal tobacco is a danger to health, particularly to young people, as it is sold at pocket money prices, making it easier for children to start smoking.
“It also encourages other crimes in our communities.”
Last week more than 70,000 illicit cigarettes were seized in raids on 20 shops in Harehills and Beeston.
To report illegal tobacco sales call Crimestoppers on 0800 555111.


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PRIVATE LABEL IN RETAIL
Private Label Is Lending a Helping Hand to Retailers’ Business
If you want to buy a pair of Levi’s jeans, it’s not too hard to find a store that carries them.
But if you want to buy a pair of jeans not owned by almost everyone, that’s another story.
As retailers try to distinguish themselves from e-commerce sites and everyone else, they are turning more and more to developing their own private-label clothing to lend an air of uniqueness to their shop floors.
That idea is being adopted by Macy’s Inc., which recently named Patti Ongman as its new chief merchandising officer. One of her jobs will be to look for new opportunities within the department-store chain’s private-label program, according to a Macy’s announcement.
“Department stores once promised that private label would not take up more than 25 percent of their stores,” said Mary Susan Wilberding, a New York–based retail consultantnt.
Wilberding used to develop private-label clothing for department stores as a former executive at Los Angeles–based One World Apparel. “But now the gloves are off,” she said. “Branded people can’t control prices because of online shopping. Neither can department stores. [Private label] is the only way I can see that [stores] can control online pricing and be consistent with what they sell on the shop floor.”
So, department stores, and others, are upping their game on private label. “They’re hiring more designers. Their development and production is becoming more sophisticated. They’re going to be funding private label and advertising it like they never did before,” said Wilberding.
Macy’s is not alone in looking for new revenue streams that could come from more private-label business.
For the last few years, Target has been on a major campaign to reinvent its own private-label merchandise to compete with online sites such as Amazon, which has been making inroads into the apparel business and churning out private-label clothing at a rapid pace. Amazon’s private-label apparel brands include Lark & Ro, a career-clothing brand for women, and Paris Sunday, a women’s clothing brand.
In 2016, after paying royalties to licensed brands that were almost exclusive to the store, Target decided to shift to private label. It replaced the licensed Cherokee line for kids and introduced Cat & Jack, a childrenswear line that after one year sold $2 billion in goods.
Then, in 2017, the mass merchandiser announced it was dropping its long-running licensed brands Mossimo and Merona and launched 12 new Target-exclusive brands for apparel and home décor. One of those was Wild Fable, a moderately priced line for teenagers and young adult women, as well as a men’s clothing line called Original Use, both introduced last year.
Walmart has also gotten into the game, making private-label brands including Terra & Sky, a plus-size label for women, and George, a men’s casual brand.
According to a recent report from market-research company The NPD Group, private-label brands will become even more important because they help retailers have better control over clothing margins and differentiate them from their competitors. They also don’t have to pay royalties to outside companies for exclusive labels. Currently, private-label apparel makes up almost one-third of total apparel sales in the U.S., up 2.1 percent over the previous year, The NPD Group said.
Marshal Cohen, chief industry analyst of The NPD Group, said growth in the private-label apparel business is cyclical. The last big surge of private-label business crested more than a decade ago, but the Great Recession knocked out many retailers’ private-label business.
About 18 months ago, he said, the business started gaining momentum when traditional retailers saw the success of pure-play Internet retailers, including Fashion Nova, PrettyLittleThing and Everlane, were having with their own self-named brands. “It changed the whole playing field,” Cohen said. “[Traditional retailers] said they’re selling direct to consumers, why can’t we?”
Traditional retailers are also increasing the stakes of the game. “This is not just generic, low-priced products. Sometimes it has the same attributes as branded products,” Cohen noted. Sometimes new private label can surpass branded competition. To compete in a tougher market, brands might have to open their own direct-to-consumer channels and look for partners who either don’t rely on private label or can afford to work more with brands.
In the past, private-label’s competitive advantage was its low price, and many assumed it wouldn’t translate into higher-priced merchandise. But The NPD Group said premium private labels are growing, and consumers in recent years have been willing to buy these products at a higher price point. In a market that is in flux, higher-end private-label lines could draw in new customers and more sales.
This has provided independent retailers with a new window of opportunity.
Omar Quiambao co-founded menswear retailer Commonwealth in 2004 in the Washington, D.C., area, and in 2017 he opened a boutique in downtown Los Angeles’ Arts District.
The store’s self-named Commonwealth private-label brand sells T-shirts, hoodies, pants, outerwear and accessories with retail prices ranging from $40 to $170. Quiambao said private-label items can fill merchandising gaps left empty by other lines. “No one else knows our customer like we do,” he noted.
However, to make a popular private-label brand, retailers have to think like designers and manufacturers and put together marketing campaigns, all of which require a different set of skills. “There’s a lot more than building the product,” Quiambao said. “It’s understanding the marketplace and having a point of view.”


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Schick comes to this new role with more than 27 years of experience as a leader working with real estate agents.
CoStar Group Agrees to Acquire Ten-X Commercial for $190M
WASHINGTON— CoStar Group, Inc., a leading provider of commercial real estate information, analytics and online marketplaces, announced today that it plans to acquire Ten-X for $190 million in cash.
Ten-X was launched in 2009 with the goal of providing a digital transaction platform for effectively liquidating the large volume of distressed commercial real estate assets that came on the market during the Great Recession. Ten-X has since become a leading platform for digital commercial real estate transactions with close to $24 billion of sales successfully executed on the platform.
The Ten-X platform has transacted approximately $7 billion in retail properties, $6 billion in office properties, $4 billion in multifamily properties, $3 billion in hotel properties, and billions in value in other commercial property types. While Ten-X initially focused on distressed assets, non-distressed sellers and brokerage firms have increasingly come to rely on Ten-X to facilitate faster execution to transact properties.
The Ten-X transaction platform has become the trusted online platform for brokers across the country to execute transactions for their clients, including all of the top 25 US commercial real estate brokerage firms. Leading lenders, special servicers and institutional sellers have relied on Ten-X’s transaction platform to sell billions in assets. Fannie Mae, Bank of America, JP Morgan Chase, Blackstone, Starwood, BlackRock, Capital One, MetLife, LNR, UBS, PNC, and SunTrust are just some of the major institutions that have trusted the Ten-X platform to transact billions of dollars in online commercial property transactions.
CoStar Group operates the most heavily trafficked online marketplace for commercial properties and land for lease and sale in North America and Europe with 10 million monthly visitors in April 2020 to its websites including LoopNet.com and CoStar.com. After completion of the transaction, CoStar Group intends to integrate the Ten-X digital transaction platform directly into both LoopNet and CoStar thereby exposing the properties that brokers are selling on the Ten-X platform to millions of potential buyers from around the world.
Ten-X Commercial’s 2019 unaudited financial statements reflect revenue of approximately $57 million. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions and regulatory review. Assuming the transaction closes in the third quarter of 2020, Ten-X is not expected to have a material impact to CoStar Group Adjusted EBITDA for the year.


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Advertising expert witness Paul Wright, is a principal of SignValue. This SignValue survey includes bad news for print media:
1) Contrary to previously published survey results, 24.7% of all respondents here indicated that their 2009 media expenditures will remain flat to potentially increase approximately 10% over 2008.
2) As a result of economic slowdown, 40% of respondents shifted dollars into e-mail marketing from print.
3) 42.1% of respondents believe that media purchasing power per dollar has increased over the last 12 months 0-10%
4) Almost half (48.2%) have diverted dollars from print to other media because of closings.
5) Until the economy recovers, 37.5% of respondents were seeking media opportunities; 35.7% were going to spend the bare minimum.
6) Exactly half believe media allocation to return to peak levels in 2001.
7) A little more than half (59.6%) expect the economy to recover in 2011.


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Mount Tai climbing festival promotes local culture, tourism
(chinadaily.com.cn)| Updated : 2019-09-09Print Print
The 33rd International Mount Tai Climbing Festival and the 2019 China (Tai'an) Fair for Investment and Cooperation opened in grand style on Sept 6 in Tai'an, East China's Shandong province.
According to the organizing committee, the festival consists of 24 theme events ranging from economic and trade activities, tourism promotions, as well as cultural and sports activities to scientific and technological fairs.
It is designed to increase the city's international profile, as well as to celebrate the 70th anniversary of the founding of the People's Republic of China.
Culture and tourism activities will be highlighted to promote the city's unique culture and customs, as well as its distinctive and rich tourism resources.
"The festival is an important opportunity to carry forward Mount Tai culture and develop regional tourism," said Li Huamin, director of the Tai'an municipal bureau of culture and tourism.
In an effort to promote local cuisines and specialties, as well as tap the potential of the city's nighttime economy, a food festival has been held to attract more visitors.
In addition, in order to improve industrial elements and strengthen the exhibition economy, the 7th National Publication Hall Distribution and Construction Fair and the 2019 Shandong Mount Tai Tourism Commodities and Equipment Expo will also be held during the festival.
Discount coupons and special offers related to various shows, performances, and scenic spot tickets will also be available for local residents to motivate development of the regional cultural sector and tourism industry, foster new economic growth drivers, as well as enrich people's lives.
The festival was first launched in 1987 and has been held for 33 consecutive years.
Jointly organized by the Chinese Mountaineering Association, the Investment Promotion Affairs Bureau of the Ministry of Commerce, the Shandong Provincial Department of Culture and Tourism, the Shandong Provincial Department of Commerce, the Shandong Administration of Sports, and the Tai'an government, this is one of the most important events in the city.
The 33rd International Mount Tai Climbing Festival and the 2019 China (Tai'an) Fair for Investment and Cooperation opens on Sept 6 in Tai'an, East China's Shandong province. [Photo/dzwww.com]
The picturesque landscape of Mount Tai. [Photo by Zhang Jie/WeChat account: SDTXTA]
A food festival is held to tap the potential of the city's nighttime economy in Tai'an. [Photo/my0538.com]


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There is no hiding the simple truth. Gains in the stock market in 2018 have been top-heavy with S&P stocks having a solid showing.
That is, the stock market in 2018 has been divided into two groups. The winners and the losers. The winners group is quite small, and comprises a few really big winners. Meanwhile, the losers group is quite large, and comprises a bunch of stocks that are struggling.
Goldman Sachs recently released a research note which added numbers to quantify this thesis. The takeaway? The stock market has been more top-heavy in 2018 than you may think.
The top 10 S&P 500 stocks have contributed more than 100% of the index’s year-to-date gain. Meanwhile, the top 5 stocks have contributed over 90% of the S&P 500’s year-to-date gain.
With that in mind, here are the names of those top five stocks that driving the S&P 500 in 2018, and an outlook on where they are going next.
Top 5 S&P Stocks in 2018: Amazon.com, Inc.
YTD Contribution: 36%
How It Got Here: E-retail and cloud behemoth Amazon.com, Inc. (NASDAQ:AMZN) has remained on fire in 2018. The company’s digital retail business remains red-hot. The smart home business is starting to come into its own.
Whole Foods synergies are starting to become more apparent. Amazon Web Services remains the most dominant service in one of the biggest growth markets in the world.
Overall, the company simply continues to march towards world domination, and AMZN stock continues to trend higher as a result.
Where Its Going Next: The wild thing about Amazon is that the company may only be getting started. The e-retail business is strong, but it will inevitably slow over time as e-commerce competition from Walmart Inc (NYSE:WMT) and others picks up. Also, the cloud business is strong, but it too will slow over time thanks to competition.
This slowing, though, isn’t a problem because there are so many more growth levers on the horizon. Amazon is on the verge of creating an industry-changing online pharmacy business. The company is also making huge moves into cosmetics, and I think its likely they make a play for a cosmetics retailer soon.
Of course, there is also the whole logistics business, which presents a billion dollar opportunity, as well as the AI opportunity, which is another billion dollar opportunity.
All together, this is a big growth company with big growth catalysts on the horizon. That combination should continue to power AMZN stock higher.
Top 5 S&P Stocks in 2018: Microsoft
YTD Contribution: 18%
How It Got Here: The turnaround story in Microsoft (NASDAQ:MSFT) has been very impressive. Ever since forward-thinking CEO Satya Nadella took over in 2014, the company has transformed into a cloud powerhouse and the stock hasn’t looked back.
This run continues today, mostly in the form of Microsoft’s hyper-growth cloud services business, Azure, gaining share on Amazon Web Services. The more this business has displayed hyper-growth potential, the more investors have bought up MSFT stock.
Where Its Going Next: The company is doing all it can to position itself for a cloud-dominated future. And they are doing a great job at doing that. Revenue growth trends and the margin profile are both improving.
But this is still a company with a bunch of slow-growth components. That is why despite 90% Azure growth last quarter, overall revenue growth was just 16%.
The problem with MSFT stock is that at 25-times forward earnings, it is trading at a pretty big multiple for sub-20% revenue growth.
Thus, while MSFT stock has the growth prospects to grow into its valuation, the stock may undergo some turbulence in the meantime.
Top 5 S&P Stocks in 2018: Apple
YTD Contribution: 15%
How It Got Here: Despite the iPhone 8 and X both being largely flops due to price-points, smartphone market saturation, and lack of mass appeal next-gen innovation, Apple (NASDAQ:AAPL) has managed to be a big winner year-to-date thanks to the company’s pivot into software.
The growth story at Apple is no longer about selling more iPhones, iPads, and Macs. It is all about getting all of its iPhone, iPad, and Mac users to subscriber to software services like App Store, Apple Music, iCloud, so on and so forth. This growth narrative has been quite good. Services revenue jumped by more than 30% last quarter. As such, Apple stock continues to head higher.
Where Its Going Next: The transition from hardware to software is a critical one for multiple reasons. Firstly, hardware revenues are lumpy. Software revenues are mostly subscriptions.
So you get more predictability in the top line. Secondly, software revenues are higher margin. Thirdly, the hardware business is all dried up and maxed out, and the software business is still nascent and hyper-growth.
Thus, as this transition plays out over the next several quarters, Apple’s numbers should be quite good. Those good numbers will report against the backdrop of a stock that is still remarkably cheap (16.5-times forward earnings). This combination of solid growth and a cheap valuation will power AAPL stock higher.
Top 5 S&P Stocks in 2018: Netflix
YTD Contribution: 15%
How It Got Here: Streaming giant Netflix (NASDAQ:NFLX) got here by wholly disrupting the entertainment distribution model, making it better, and differentiating itself through quality original content. Ever since the summer of 2016 when Stranger Things debuted, Netflix has consistently smashed subscriber growth estimates, and the stock has rocketed higher.
Where Its Going Next: The valuation yellow card is being waved around right now. Netflix stock does look incredibly expensive above $400, and any operational hiccup will result in a sizable sell-off. It doesn’t look like such a hiccup will happen now, but it could happen over the next several quarters as Walt Disney Co (NYSE:DIS) enters the streaming game.
Without that operational hiccup, though, Netflix stock won’t drop in any big way. The investor base has proven to be surprisingly resilient, even at these all-time high levels and against the backdrop of multiple macroeconomic risks. At the end of the day, hardly anyone is selling because the long-term growth narrative is just that powerful.
Top 5 S&P Stocks in 2018: Facebook
YTD Contribution: 8%
How It Got Here: Social media behemoth Facebook Inc (NASDAQ:FB) is up 16% year-to-date, but the ride wasn’t all that smooth. The stock rose nearly 10% in January against the backdrop of a red-hot stock market.
Then, macroeconomic concerns hit. Then, the Cambridge Analytica scandal hit. And Facebook stock not only wiped out its 10% January gains, but also was down as much as 15% year-to-date in late March.
Facebook stock has since shrugged off those concerns. The company reported blowout quarterly numbers back in late April, and has since hit major milestones for Instagram, WhatsApp, and Messenger.
Where Its Going Next: Considering the company’s robust growth prospects through owning four social media platforms, all of which have over a billion users and only one of which is “fully” monetized, Facebook stock looks dramatically undervalued at just 26-times forward earnings.
Revenue growth was 50% last quarter. Profit growth was over 60%. A sub-30 forward multiple just doesn’t compute next to those big growth rates, especially considering big growth is here to stay through Instagram monetization, WhatsApp monetization, Messenger monetization, Marketplace, Workplace, Groups, and IGTV.
As of this writing, Luke Lango was long AMZN, AAPL, DIS, and FB.


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Raytheon's CEO talks with suppliers about the critical role they play
Good working relationships are critical to the success of both defense contractors and their suppliers.
That was the message from Raytheon Chairman and CEO Thomas A. Kennedy, as he delivered the keynote address at a gathering of many of the world’s top aerospace suppliers.
The event was the fall meeting of the Supplier Management Council of the Aerospace Industries Association. Suppliers came to learn about trends, discuss challenges facing the industry and share ideas on how to overcome them.
Kennedy shared his perspective on the tough issues, large and small, that are of most concern to global suppliers.
“To face the three challenges that face our industry – cost, competition and compliance – we need to do it together,” Kennedy told the room, which was packed with more than 200 attendees. “The relationships between Raytheon and its supply chain are critical to the success of its programs and the company. It’s embedded in the company’s strategy.”
Raytheon hosted this year’s meeting in Tucson, Arizona, where the company’s missile systems business is based.
Raytheon cultivates its relationships with suppliers. It has a mentor program to help small businesses that may not otherwise be able to compete. It also offers a team of supply chain and engineering professionals to help those businesses develop the skills required to become large-scale suppliers to the defense industry.
“We wouldn’t be where we are without that leadership, that mentoring, that sophistication that [Raytheon’s] supplier council provides,” said Shawn O’Connell, vice president for EnerSys, a supplier of military batteries. "They’re working right there with you to develop those competencies. Being a smaller player, we would have never been able to address that on our own."
Druing the three-day event, attendees toured Raytheon’s cutting-edge factories, seeing up close how they contribute to some of the most advanced technologies and capabilities in the world.
“It’s a huge benefit to do these tours and be able to go back and speak about our piece of the supply chain that results in an end device that keeps our country safe,” said Mark Matthews, director of sales and marketing for EnerSys.
Success is a two-way street, Kennedy told suppliers.
“The thing that each and every one of you does to make our country great: You create jobs," he said. "But not just regular jobs; you create noble jobs, the foundation of our great nation. It’s what we do.”
This document does not contain technology or technical data controlled under either the U.S. International Traffic in Arms Regulations or the U.S. Export Administration Regulations. E16-737P.