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AmeriGas Partners and Suburban Propane
Recently, AmeriGas Partners (APU) and Suburban Propane (SPH) reported results for October, November, and December of 2013. These companies are propane distributors that sell the fuel to residential, commercial, agricultural, and industrial customers in the U.S. The largest proportion of propane sales generally goes to residential customers, and propane demand is greatest during the winter, when customers use propane for home heating.
Suburban Propane missed consensus expectations
Suburban Propane reported adjusted EBITDA for the three months ended December 28, 2013, of $118 million, compared to consensus EBITDA of $123 million and compared to $117 million for the same period last year. Distributable cash flow for the quarter was $92.9 million, compared to $91.4 million last year.
SPH noted that weather during this period in its service territories was normal and 9% colder than the prior year. However, December was considerably colder than average, which offset a warmer-than-normal October and November. During the quarter, SPH sold 157.9 thousand gallons of retail propane (compared to 153.9 thousand last year), and 14.0 thousand gallons of refined fuels (compared to 15.9 thousand gallons last year). In its 10-Q, Suburban Propane breaks out operating income for propane and fuel oil or refined fuels separately. Using this data, propane segment operating income ($106.4 million) per gallon of retail propane sold was $0.67 for the last reported quarter, compared to the year prior’s operating income ($104.2 million) per gallon of retail propane sold at $0.68. Suburban noted that it didn’t typically provide guidance, but that it expected better results for this fiscal year than last year.
AmeriGas beat estimates but maintained EBITDA guidance
AmeriGas Partners reported adjusted EBITDA for the three months ended December 31, 2013, of $230 million, compared to consensus EBITDA of $202 million and compared to $193 million for the same period last year. Distributable cash flow was $173.5 million, compared to $141.5 million last year.
APU noted that weather for the quarter was 3.8% colder than normal and 14.0% colder than the prior year. During the quarter, APU sold 374.1 million retail gallons (compared to 350.7 million last year) and 37.5 million wholesale gallons (compared to 26.3 million). EBITDA per gallon sold was $0.56 per gallon, compared to $0.51 per gallon last year (note that this measure does not distinguish between retail and wholesale gallons sold, and likely margins on wholesale gallons are significantly smaller than on retail gallons). Gross margins on propane sales were 42% for the quarter, compared to 46% the prior year.
Despite strong performance during the quarter, APU didn’t change its adjusted EBITDA guidance of $645 million to $675 million for the current fiscal year. When asked by a Wall Street analyst why EBITDA guidance hadn’t been adjusted upward, given the strong quarter, APU responded that despite its ability to maintain margins so far, “Margin’s one side of the equation but volume is a huge part of the equation, and the fact that January was cold does not ensure that the second half of February or March will be. So it’s just prudent for us not to do anything at this point.”
The third major propane distributor, Ferrellgas Partners (FGP), is set to report earnings in early March.
To read more about trends that have affected propane and propane distributors recently, as well as commentary provided by distributors on recent earnings calls, please see Must-know: Why did commodities trade so mixed last week?.


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YouTube now supporting “Gaming Focused” HTML5 compatible Live Streams At 60fps.
Announced in a post on the YouTube Partners & Creators Blog, 60 frames per second live streaming is now available as “an early preview on HTML5-compatible browsers,”
“When you start a live stream on YouTube at 60fps, we’ll transcode your stream into 720p60 and 1080p60, which means silky smooth playback for gaming and other fast-action videos,” the post reads. “We’ll also make your stream available in 30fps on devices where high frame rate viewing is not yet available, while we work to expand support in the coming weeks.”
YouTube collaborated with Elgato and XSplit to develop software that supports the new 60 fps streaming capabilities. The new HTML5 player will also let streamers cut back into live streams and watch at 1.5 or 2x to back up.

domain: news


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Digital TV News: Anil Khera
Competition Commission of India approves VIDEOCON D2H-Dish TV merger
May 9, 2017 – Videocon d2h has received approval from the Competition Commission of India (CCI) for the proposed merger of Videocon d2h and Dish TV. The new entity will be called Dish TV Videocon Limited.
News categories: Videocon d2h, Dish TV India, Competition Commission of India, Saurabh Dhoot, Anil Khera, India, MandA, Satellite
Videocon d2h to add Netflix to its HD Smart Connect STB
Mar 6, 2017 – Videocon d2h has signed a standalone deal with Netflix. With this partnership, Videocon d2h connected box customers will be able to access seamlessly the extensive library of Netflix TV and movie titles.
News categories: Videocon d2h, Netflix, Saurabh Dhoot, Anil Khera, Reed Hastings, Apps, Digital TV, India, Satellite, Set Top Box, Streaming
Videocon d2h opts for Cisco Virtualized Video Processing
Sep 2, 2016 – Cisco has announced that Videocon d2h has selected the Cisco Virtual DCM. The Virtual DCM provides Videocon d2h the bandwidth efficiencies to deploy new services and meet ever-increasing consumer demands for 4K, multiscreen, OTT and Cloud DVR.
News categories: Cisco Systems, Videocon d2h, Sanjay Kaul, Saurabh Dhoot, Anil Khera, Content Distribution, Digital TV, India, Satellite
Videocon d2h adds 0.59 million net subscribers in 1Q 2016
May 24, 2016 – Videocon d2h (NASDAQ: VDTH) has announced results for the year ended March 31, 2016. The Company added 2.65 million gross subscribers and 1.68 million net subscribers during fiscal 2016.
News categories: Videocon d2h, Saurabh Dhoot, Anil Khera, India, Results, Satellite, Subscribers
Videocon d2h adds additional 4K content
Feb 19, 2016 – Videocon d2h (NASDAQ:VDTH) has revamped the 4K content being shown on its active 4K UHD channel - d2h Life 4K, India's only 24 hours DTH channel service in 4K. Videocon d2h will now provide a plethora of 4K UHD services.
News categories: Videocon d2h, Saurabh Dhoot, Anil Khera, India, Satellite
Videocon d2h launches connected set-top box
Feb 5, 2016 – Videocon d2h (NASDAQ, USA: VDTH) has launched its HD SMART Set top Box (Connected Set top box). The box converts an existing LED TV into a Smart TV as well as showing more than 500 Channels and services in High Definition and Standard Definition.
News categories: Videocon d2h, Saurabh Dhoot, Anil Khera, Digital TV, India, Satellite, Set Top Box
Videocon d2h adds 0.43 million net subscribers in 4Q 2015
Jan 28, 2016 – Videocon d2h (NASDAQ: VDTH) has announced its financial results for the quarter ended December 31, 2015. The Company added 0.67 million gross subscribers and 0.43 million net subscribers during the quarter.
News categories: Videocon d2h, Anil Khera, India, Results, Satellite, Subscribers
Videocon d2h releases Direct To Mobile TV app
Jul 30, 2015 – Videocon d2h (NASDAQ:VDTH) has announced the launch of a mobile TV app. The app, called Direct to Mobile TV, will make it possible for Videocon d2h subscribers to watch television anytime, anywhere on their mobile phones.
News categories: Videocon d2h, Saurabh Dhoot, Anil Khera, Apps, Digital TV, India, Satellite, TV Everywhere
Videocon d2h launches India's first 4K Ultra HD channel
Feb 4, 2015 – Videocon d2h launched a 24 hour 4K Ultra HD multi-genre channel on 26th January 2015. The 4K Ultra HD Channel is a content pipe that may carry multi-genre feed like movies, VOD, travel, infotainment, sports etc.
News categories: Videocon d2h, Anil Khera, Saurabh Dhoot, Digital TV, India, Satellite
- Bitmovin and MainStreaming partner to deliver broadcast-quality video streams
- New products and more countries for Amazon-built TV range
- Pay TV subscribers in Eastern Europe to fall to 73 million in 2028
- VIZIO selects Whip Media for WatchFree+ ad revenue reporting
- Qwilt partners with Telefónica to provide CDN services in Spain
- Ateme launches 'audience-aware' streaming solution
- SAPEC to develop encoder for first live 8K DTT broadcast
- Big Media launches The New Frontier channel with VlogBox
- Bedrock expands 6play max availability to more connected devices
- Slower AR/VR headset shipment growth expected for 2023
- Netgem completes sale of Fibre France business to Nordnet
- Integral Ad Science ad verification goes live with Netflix
- DoubleVerify media quality measurement now available to Netflix advertisers
- EU clears acquisition of VOO and Brutélé by Orange, subject to conditions
- Liberty Global Belgium to launch takeover bid for Telenet Group Holding
- Proximus extends partnership with ThinkAnalytics
- Allente launches Google TV device powered by 3SS and SEI Robotics
- Streaming TV now most-watched TV form in the EU5
- StarHub introduces interactive advertising with Hoppr
- Breezeline Stream TV launches in Pennsylvania


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Ahead of Google's latest hardware event, read up on everything we expect the company to announce, from new products like the Pixel 4 smartphone and the Pixelbook Go Chromebook to updates for its Nest Wi-Fi router, and also updates to Google Assistant.
On October 15 at 10 a.m. Eastern (7 a.m. Pacific), Google will kick off its third annual “Made by Google” hardware event. For the second year in a row, the Mountain View company is hosting a press conference...
Google Pixel 4
Everything that's reportedly coming to Google's new smartphone.


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Dacorum businesses recognised in the Muddy Stilettos Awards
The awards are now in their eighth year
Three businesses in Dacorum have been recognised in the Muddy Stilettos 2021 Awards.
Now in their eighth year, the hotly contested Muddy Stilettos 2021 Awards have come to a close, with 27 brilliant local indie businesses winning the coveted lifestyle awards across Hertfordshire and Bedfordshire.
In Dacorum, three businesses received awards:
> Bustle and Bow Bridal Studio in Berkhamsted, won Best Bridal Store
> Cedar Coffee Shop in Potten End, won Best Café
> Ashridge House in Berkhamsted, won Best Wedding Venue.
Readers of the award-winning Muddy Stilettos lifestyle website nominated and voted in their thousands for their favourite independent businesses across 27 different lifestyle categories – from Best Destination Pub to Yoga/Pilates Studio, Boutique Stay to Wedding Venue – and shining a light on the most creative, unique indie businesses.
75,000 businesses were nominated across the country with 752,000 votes cast in total as part of this much coveted national lifestyle awards, making it the most popular Muddy Awards to date.
Voted by customers, staff and Muddy readers, the Muddy Stilettos Awards always creates a real sense of community spirit and are a great way for customers to say ‘Thank you’ for what has been an incredibly difficult past 18 months for many small businesses.
Hero Brown, founder and Editor-in-chief of Muddy Stilettos, said: "I set up these awards eight years ago to give local lifestyle businesses a chance to shout about how brilliant they are.
"After a year of multiple lockdowns and hardships, it’s been an honour to showcase the most awesome lifestyle businesses across the Muddy counties, in partnership with our local sponsors.
"The response to this year’s Muddy Awards has been unprecedented – thousands (and thousands) of people voted giving such a fantastic boost and a well-deserved ‘Pat-on-the-Back’ to so many.
"I hope it will make give them greater confidence to grow their business knowing that they have the stamp of quality that the Awards provides and great local support."
The full list of Muddy Awards 2021 Winners is available at Muddystilettos.co.uk/Awards.


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Warner Bros. Discovery and Prime Video unveiled plans to launch the “Warner Pass” in France, which will include content from HBO and other TV networks, “bringing together a unique collection of Warner Bros. Discovery’s popular and award-winning programming.”
The service will be available exclusively on Amazon Prime Video Channels in France and offer viewers access to a content offering that includes all of HBO and 12 channels, including Warner TV, Eurosport, Discovery Channel, Cartoon Network and CNN, as well as their associated on-demand services. The offer will be available to Amazon Prime members via a separate subscription from March.
The new service does not impact WBD’s ambition to launch a combined streaming product in France down the line.
“To celebrate the upcoming arrival of this unique content offering on Prime Video Channels, all Prime Video subscribers will receive exclusive access — at no additional cost — to watch The Last of Us, the most anticipated HBO series of this year,” the companies said. “Every episode will be available on the next day after U.S. broadcast. The first episode will be accessible Monday, Jan. 16.”
In 2023, the “Warner Pass” will include new seasons of such HBO shows as Succession, Perry Mason, The Gilded Age, Winning Time: The Rise of the Lakers Dynasty, Barry, Somebody Somewhere, as well as new series such as The Idol, White House Plumbers and True Detective: Night Country. It also includes exclusive access to HBO’s library of iconic series, such as Game of Thrones, The Sopranos, Sex and The City, The Wire, Veep and Chernobyl.
“We are thrilled to agree a new partnership with Prime Video in France,” said Pierre Branco, general manager for France, Benelux and Africa at Warner Bros. Discovery. “The launch of the ‘Warner Pass’ is great news for the French audience as our fans will be able to access all HBO series and our 12 television channels with a single subscription.”
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Christian Louboutin and Judging Panel Determine New Face of Martini
Bárbara González, 27, from Pamplona, Spain, has been crowned the winner of the MARTINI® Royale Casting and will follow in the footsteps of previous MARTINI® stars such as Charlize Theron, Naomi Campbell and Monica Bellucci.
Bárbara’s first role will be to star in a new advertising campaign for which will air in December 2012. Bárbara will also receive €150,000, 12 pairs of Christian Louboutin shoes and 12 designer outfits from my-wardrobe.com. Bárbara has an exciting year ahead and will join Yuri Buzzi, winner of the 2011 MARTINI® Kisser Casting, playing a lead role in the MARTINI® 150th anniversary celebrations throughout 2013.
The MARTINI® Royale Casting was a global search to find a woman who best personified the philosophy of the iconic brand – LUCK IS AN ATTITUDE. International judge Christian Louboutin helped to launch the campaign which ran in 23 countries at the London Design Museum in May.
More than 3,500 women applied and were whittled down to just 28 semi-finalists who competed in a series of challenging tasks on the beaches and hot spots of Ibiza in August. These challenges, designed to showcase the attitude, style and personality of the candidates were all filmed as part of an entertainment series shown on facebook.com/MARTINI. The 28 semi-finalists then battled it out to gain the most votes and earn their place in the final stage of the search in Milan. Through and online contest, the public voted in the thousands for their four favourites while three additional “wildcards” were chosen to travel to Milan for the final competition by an international judging panel consisting of Christian Louboutin, my-wardrobe.com founder Sarah Curran, and MARTINI® Global Category Director, Arnaud Meysselle. The seven finalists hit the streets of Italy’s style capital in the final chapter of the MARTINI® Royale Casting and had the unique opportunity to visit the home of MARTINI® in the town of Pessione near Turin. At Pessione, the finalists discovered more about the rich history and heritage of one of the world’s great, iconic global brands and its drinks.
Bárbara, who has competed for Spain at the Sydney and Beijing Olympic Games as a rhythmic gymnast, is now passionate and determined to become an actress. It was her charismatic and stylish attitude that shone through to the International judging panel. Following the announcement, Bárbara said “I’m very happy and this is a dream for me. I will work very hard to make everyone that has made this possible very proud of me”.
Christian Louboutin commented, “I was looking for someone who is happy to show her true character and Bárbara surprised me with her sense of fun and smart attitude.”
Watch the reveal of Bárbara as the next MARTINI® star at youtube.com/martini
For any links in digital media, please embed with the following link Http://youtu.be/l9uWa_WesgE


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Apple has opened its Find My service to third parties, making it possible to track third-party devices via the app.
Until now, Apple’s Find My app has allowed a user to find their Macs, iPads, iPhones and AirPods. With Apple rumored to be working on AirTags, small devices that can be affixed to other items for tracking, AirTags will also likely be accessible via Find My.
In the meantime, new products from Belkin, Chipolo, and VanMoof will be available for tracking beginning next week.
“For more than a decade, our customers have relied on Find My to locate their missing or stolen Apple devices, all while protecting their privacy,” said Bob Borchers, Apple’s vice president of Worldwide Product Marketing. “Now we’re bringing the powerful finding capabilities of Find My, one of our most popular services, to more people with the Find My network accessory program. We’re thrilled to see how Belkin, Chipolo, and VanMoof are utilizing this technology, and can’t wait to see what other partners create.”
As one of Apple’s more useful, everyday services, it’s good to see the company opening Find My to other companies and products.


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Nokia stock was up significantly this morning, which may come as a surprise because the Finnish cellphone company has been struggling to keep up with the likes of Apple and Samsung. But the optimism on Wall Street has to do with a different part of the smartphone tech market — the business end. Nokia just bought out electronics giant Siemens in a joint venture to make high-speed wireless network technology.
Todd Wasserman, business editor at Mashable, joins Marketplace Tech host Ben Johnson to discuss the deal.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.


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Take a stroll through social media’s most popular platform and you’ll find that “Cleaning TikTok” or #cleantok, boasts 16.2 billion views and counting. From crusty counters to slimy sinks, consumers are finding joy in the simple pleasure of scrubbing up.
Arm & Hammer is taking a whack at the trending topic with its own digital challenge #TeamUpAndCleanUp, a seven-week promotion that helps families divide and conquer each room or space in their home. Like many bursts of brand inspiration, the idea for the initiative came about during the pandemic when people were spending more time at home, while also becoming more conscious of the importance of cleanliness. Indeed, e-commerce grew 79% year over year in home care according to Gartner’s Digital IQ Index: Consumer Packaged Goods. The new promotion spotlights the brand’s most iconic item—baking soda—with instructions provided to several TIkTok influencers on how to “hack” their cleaning routine.
Though the brand, which was introduced a whopping 175 years ago, might not seem like a likely candidate for TikTok trendtopping, its most recent move proves that even the oldest brands clean up well when it comes to opportunities to score major brand awareness. The label made the most of its most recognizable and versatile product while also incorporating education—a key element of content creation when it comes to better addressing the evolved consumer who wants to (or was forced to) learn new skills to better care for their space since realizing how much time they spend in it.
Brands that feel like TikTok might not be a fit for them should reconsider the versatilitiy of their product or products, as well as their digital priorities.


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For a second year, local retailer falls victim to Christmas tree thieves
Posted December 10, 2012
BIRMINGHAM — During the overnight hours of Nov. 23-24, thieves took a few hundred dollars’ worth of holiday spirit from The Plant Station on Adams Road, and it wasn’t the first time.
For the second year in a row, The Plant Station was allegedly robbed of 10 Christmas trees for sale on the store’s lot. According to reports, the stolen trees were likely taken by perpetrators who pulled a vehicle behind the store, climbed over the fence and threw the trees back over.
The scenario is all too familiar to The Plant Station owner Theresa Costello, who lost thousands of dollars last year when four dozen trees were taken from the florist.
“I don’t know if it’s the same folks as last year, and I don’t know why it’s always me. I guess I’m the lucky one,” said Costello, saying the trees could be worth money to thieves when they’re sold for cash on the street.
Cmdr. Terry Kiernan of the Birmingham Police Department says the store’s location is the most likely reason Costello has been targeted more than once. In fact, he says he’s received several reports from the florist of missing seasonal merchandise that’s kept outdoors, including firewood and damaged or vandalized landscaping materials.
“It’s not a well-lit in that area, there’s not a lot of traffic going through, and the way the building is situated, the backside of it is not well-lit,” said Kiernan of the shop on Adams Road at the corner of Haynes Street. “It’s easy to pull around back and hide. Even if you’re driving down Adams, unless you’re specifically looking in that direction, you’d have a hard time seeing what’s going on.”
Kiernan says lighting is the best crime deterrent in most situations, noting that there are other florists in Birmingham who keep large merchandise outside but don’t report many thefts throughout the year because those stores keep their lights on at all times. But even bright lights may not be enough to prevent some Grinches from spoiling holiday spirit.
“Unfortunately, there are bad people in the world and they’ll likely take advantage of people trying to display their merchandise,” he said.
Costello isn’t ready to call Christmas a wash just yet, though. She says she’s moved her merchandise to make it harder for would-be thieves to access, and she’s upgraded her security to include surveillance cameras. The next time Scrooge strikes, she says The Plant Station will be ready.
“If it happens again, they will be caught this time,” said Costello.
About the author
Staff Writer Tiffany Esshaki covers Birmingham, Bloomfield Hills and Bloomfield Township as well as Oakland County Parks and Recreation and Oakland County Animal Control and Pet Adoption Center. Esshaki has worked for C & G Newspapers since 2011 and attended the University of Michigan-Dearborn and Oakland Community College. She’s the recipient of several awards from the Michigan Press Association and the Detroit chapter of the Society of Professional Journalists.
More from C & G Newspapers


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the reporting season gets underway …
Investor confidence low due to uncertain security
With the reporting season for financial year accounts
ending March underway, corporates are churning out satisfactory
results but their reports reflect growing concerns about the security
situation in the country and long term effects on business and the
Many reports including that of John Keells are expected in the next
few weeks as companies prepare to hold their AGMs –most before
But JKH Chairman Susantha Ratnayake said the group has gone through
this situation before. “It’s not new to businesses.
Business has grown and it would be business as usual.”
Dimuthu Abeyesekera, CEO, Asha Phillip Securities Ltd said that
companies while being concerned about the volatile situation in
the country will post very good results, but these results will
not reflect the actual values in the share prices of those respective
companies. “March companies which are to release their annual
results seem to have done very well, but the share prices will not
reflect the actual values because investor confidence at present
is not very good,” he said.
He said the confidence factor has reduced drastically due to the
war situation and many corporates are expected to raise the peace
issue in their reviews and statements. “The main criteria
for investor confidence are peace,” he emphasized.
Deva Rodrigo, President of the Ceylon Chamber of Commerce said the
country's situation is very fragile and if it worsens there is a
threat of increases in freight costs because foreign shipping lines
will push for war risk rates, while increasing corporate taxes will
have a drastic effect on the corporate and investor sentiment at
“It will be interesting to analyse the taxes paid by the corporates
in relation to their profit before tax (PBT) and compare it with
last year. The government is planning to push the corporate tax
to 19 to 20 percent of GDP. It would useful to ascertain how much
the increase in the tax revenue to the government has increased
the effective rates of corporate tax,” he said.
Market analysts said that many companies were very concerned about
a conducive environment to business and are awaiting a firm stand
on peace. Some said that it is noteworthy that the tourism sector
of some companies has shown a revival in the last quarter but the
firms are concerned about the future.
Chinthaka Ranasinghe, Head of Research, John Keells said that corporates
dealing in only tourism will be hit badly but generally the corporate
results that are due to be posted are looking very good. “We
have been through worse times. There will be volatility in the country,
but we are a long way from the post 1994 era,” he said.
Sanjeev Gardiner, Director Ceylon Hotels Corporation said that it
is important for companies to have consistency in efficiency and
productivity in a volatile situation and some companies such as
Dialog have done this. “Dialog has done extraordinarily well
in a challenging environment,” he said.


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Weekly 5: Analyst recommends MarineMax buy
The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. Analyst recommends MarineMax buy
MarineMax stock could be undervalued by as much as 100 percent, Todd Campbell of Gundalow Advisors writes in a recent note.
He cites rising consumer confidence and the company’s increasing sales as several reasons MarineMax could continue to perform well in the coming months.
2. Brunswick gets downgraded
On the other hand, Brunswick Corp.’s rapid price increase recently has some less bullish on the stock. Zacks cut the company’s rating from “buy” to “neutral.” Brunswick Corp. stock is up about 50 percent so far in 2013.
3. 7 marketing truths every business leader should know
There are seven truisms that every business leader needs to understand about marketing, Steve Tobak writes in this Entrepreneur.com article.
4. Email marketing still works
Social media may get the buzz, but email marketing still matters – and is still effective.
Vin Turk offers advice for getting it right in this MarketingProfs.com piece.
5. Sell on Facebook using images
We’re lucky to be in a very visually interesting industry. Pictures of boats are a lot more exciting than, say, MRI machines. Here are six ways to effectively use images in your Facebook posts.


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99 Cents Only Stores raise prices for the first time
LOS ANGELES (AP) — Prices at 99 Cents Only Stores are edging closer to a buck.
The discount retailer on Monday announced the first price increase in its 26-year history, raising the cost of household items, food and other items by almost a penny.
The company blamed inflation and rising food and energy prices for its new 99.99-cent prices.
The increase means the maximum price in the stores will still fall below a dollar while helping the company offset some of the higher costs of doing business, CEO Eric Schiffer said.
The company has posted two consecutive quarterly losses. The company said last month it lost $1.5 million, or 2 cents a share, during the April-to-June period. During the same period last year, 99 Cents Only Stores earned $3 million, or 4 cents a share.
The company, founded in Los Angeles, is the nation's oldest dollar chain store. It has expanded to 277 locations in California, Nevada, Arizona and Texas.
For the opening of its new stores in Redondo Beach and Las Vegas last month, the company sold iPod Nanos for 99 cents to the first nine customers.


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Facelift Jeep Renegade emerges with minor updates
For now, the various changes are exclusive to Brazil, but expect a roll-out to other markets soon.
Changes at the front headlined by a new narrower grille.
Officially one of its oldest models on sale today, Jeep has given the now eight-year old Renegade a series of updates in Brazil ahead of its still to be confirmed market debut.
The second update after the initial global model tweak four years ago, the updates to what has remained one of the brand’s most important models in South America comprise a slimmer seven-slot grille, new LED daytime running lights integrated into the headlights, redesigned front and rear bumpers, new fog lamps and a new X-motif for the LED taillights.
Inside, the interior sports the same steering wheel as the Wagoneer and Grand Wagoneer, while the centre console has been upgraded to accommodate either a seven-inch or 8.4-inch Uconnect touchscreen infotainment system.
While final specification has yet to be announced, reports from Brazil indicate the availability of tech such as Adaptive Cruise Control, Lane Departure Warning and an overhauled digital instrument cluster.
The biggest change is to be found underneath the bonnet where Jeep has dropped the Fiat derived 2.0 Multijet turbodiesel engine and the dated 1.8 E.torQ flex-fuel unit for the 1.3-litre turbocharged Firefly used in the European Renegade, the Compass, Commander, Renegade 4xe and the Fiat Toro/Ram 1000.
Badged as the T270, the Brazilian made and developed unit produces 132 kW when running on petrol or 137 kW when fuelled by ethanol with torque, as evident by the moniker, rated at 270 Nm for both. Transmissions comprise a six-speed automatic on front-wheel-drive models and a nine-speed automatic on four-wheel-drive derivatives.
Expected to retails from R $100 000 (R276 496) when it goes on sale, the updated Renegade, for now, remains a Brazilian and South American market exclusive with no plans afoot for Europe, North America and of course, South Africa.
Given its 2018 global update though, expect to the changes to eventually become available on international models, though with different engines and trim level designations.


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At the ASSOCHAM Focus09 conference, Ravi Kiran, CEO (South East & South Asia) for Starcom MediaVest indulged in some straight talk regarding mobile advertising in India. Kiran was responding to Shabir Momin, Director at Zenga, who had said that he’s having a tough time convincing the advertising industry to invest spends on a medium (rather Zenga) which he said has a niche, paying-capable audience, and is more targeted, also suggesting that it’s time for mobile to graduate from SMS.
Kiran was blunt in his response: “If you’re asking me a question about why I’m having a tough time (spending on Mobile), then you’ll have a tough time. I can tell you that it will be a tough time for a minimum 5-8 years. Marketing people, whether we like it or not, don’t move as fast as we want them to. Ten years after creation of digital advertising as a medium, that medium is still struggling. It is still 3.5 percent of the Rs. 21-25,000 crores that this country spends on advertising. If you think that people will get evangelized in six months or one year, it is naive.”
Kiran is fairly active on digital platforms, and it didn’t appear as if he was playing down the richness or the potential of the medium; rather, he was being pragmatic about how long it takes to build acceptance among marketers. The problem apparently is that the marketers aren’t convinced yet, though estimates have suggested that India has 15-20 million mobile Internet users.
So what’s your take: what’s ailing the mobile advertising business in India, and what steps need to be taken to build the ecosystem? We’ll update with your views.


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Victoria Beckham, 45, made a rare fashion faux pas in New York City today.
The singer-turned-fashion designer, who is known for her impeccable sense of style, stepped out in an unusual ensemble this morning.
Making her way to the Metropolitan Museum of Art, where the Met Gala took place earlier in the week, Victoria made a surprising fashion choice.
The mother-of-four opted for a pair of skintight black leggings and a nude-coloured top for her museum outing.
Turning the streets of Manhattan into her own runway, Victoria was pictured leaving her Upper East Side hotel and walking to a waiting car.
The form-fitting outfit, which would be perfect for a ballet lesson, showcased her gym-honed physique and toned legs.
She teamed the look with a black trench coat which was tied at the waist, her trademark dark sunglasses and peep-toe ankle boots.
Wearing her hair in a chic up do, she carried a black leather bag under her arm and finished off her ensemble with a pair of green earrings.
On Thursday, Victoria, who has spent the week in New York, looked chic and stylish in the city while husband David Beckham, 44, appeared in a London court for driving offences.
The former Spice Girl, who is mum to Brooklyn, 20, Romeo, 16, Cruz, 14, and Harper, seven, looked more like her usual self in a red and white checked shirt with a high-waisted grey and black midi-length skirt which she teamed with a vibrant pair of bright red peep-toe boots.
Victoria Beckham makes rare fashion faux pas in skintight leggings


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On Sept 27, superapp Grab Holdings led its first investor day, which assured investors that it has a plan to reverse out of the red.
See: Grab CEO tries to reassure investors after market plunge
Amid its several years of losses and declining share price since it listing via spac, anlaysts are still somewhat positive on the stock.
CGS-CIMB Research is keeping its “add” recommendation on Grab with an unchanged target price of US$4.10, while Citi Research is reiterating its “buy” call on Grab but cautions “high risk”.
DBS Group Research on the other hand is less bullish as it keeps its “hold” recommendation with an unchanged target price of US$2.85.
Towards a more sustainable growth
During its investor day, Grab announced that it expects slower revenue growth of 45% to 55% for FY2023 ending December 2023, as it adjusts to the market downturn and speeds up efforts to reverse several years of losses.
CEO Anthony Tan expects the group to break even in 2HFY2024 on its adjusted ebitda (excluding one-offs). Its group adjusted EBITDA loss is expected to be US$380 million for 2HFY2022, a 27% improvement compared with 1HFY2022.
It also intends to break even in its digital bank operations by FY2026.
Grab will continue to maintain a strong balance sheet by preserving cash prudently. Investments will continue to be made in developing products and technological innovations. On the M&A front, Grab will remain selective and only consider targets which are earnings accretive and possess elements that support Grab’s current ecosystem.
According to CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan, this would bring FY2022 adjusted ebitda loss to US$901 million, as compared to their expectations of US$900 million and Bloomberg’s consensus of US$980 million.
As the Grab’s guidance expects US$1.25 billion to US$1.30 billion in revenue for FY2022, which according to DBS Group Research, implies an average growth of 89%, compared to 106% in its model. DBS’ FY2023 projections imply a 77% revenue growth, hence even the high end of the guidance is much lower than the research house’s expectations.
Citi’s Alicia Yap and Nelson Cheung however has estimated FY2023 revenue to come in at US$1.77 billion, lower than the US$1.85 billion to US$1.98 billion Grab has expected for FY2023. “With a mix of higher margins revenues and improving operation efficiency with optimisation of discretionary spending, Grab targets to achieve group adjusted ebitda break even in 2HFY2024, compared to our forecast of FY2024 ebitda loss of US$324 million,” writes Yap and Cheung.
Strong proposition on core business
For its core business of ride-hailing, food deliveries and financial services, Grab intends to maximise users’ lifetime value while lowering the platform’s cost to serve. It has rolled out initiatives such as GrabUnlimited and GrabForBusiness to promote customer loyalty, usage frequency and promote cross-selling across services.
Meanwhile, technological advancements such as just-in-time driver allocation, order batching, route optimisation (through proprietary GrabMaps) are helping to increase drivers’ hourly earnings, and reduce subsidies. Grab is also scaling back on services with weaker unit economics (dark store formats for grocery deliveries, off-platform payment services that are contribution-negative).
For more stories about where money flows, click here for Capital Section
“The achievement in Grabmap and partnership traction from leading global brands demonstrate Grab’s technology and operation expertise,” says Citi’s Yap and Cheung.
CGS-CIMB’s Ong and Tan are positive on this aspect too as they believe that this is a key initiative to drive growth for the group.
Subsequently, Grab is working closely with regulators on gig worker protection policies, as it notes that governments have recognised the importance of the gig economy. Hence, Grab expects potential implementation of mandatory retirement benefits and insurance benefits to be carried out in a gradual manner, at a level playing field for all platform players. It has baked in the potential impact into its medium-term steady state margin guidance.
Upbeat on digital bank and advertising
On the other hand, the analysts see potential in Grab’s upcoming digital bank with Singapore Telecommunications (Singtel), GXS Bank.
The way CGS-CIMB’s Ong and Tan see it, Grab can leverage its partners’ ecosystem in Singapore, Malaysia and Indonesia and potentially reach 120 million micro, small & medium enterprises (MSME) upon launch.
Additionally, it will enjoy benefits such as lower costs, compared to peers on distribution and customer acquisition, as well as better credit scoring models. “Rollout will be done prudently, with digital bank operation losses peaking in FY2023 ending December 2023 and breakeven achieved by FY2026,” note the CGS-CIMB analysts.
“On ads, Grab is working on unifying its merchant marketing offerings into a self-service platform, which is expected to help the segment scale faster,” they add.
DBS Group Research on the other hend expect that there could be some slowdown in the financial services segment as ebitda losses have been rising due to more intense competition.
Grab for the first time has guided an adjusted ebitda for digital banking in FY2026, although adjusted ebitda losses are expected to worsen in FY2023 with new launches in Singapore and Malaysia. Grab does not expect the overall fintech segment, excluding digital banking to break even in FY2026.
Overall, Citi is positive on Grab’s outlook, as Yap and Cheung writes: “We come away positively given management’s confidence in financial outlook, stable competitive landscape, and solid relationship with relevant authorities. More important, Grab does have an experienced and dedicated management team to execute and expand its superapp ecosystem to strengthen its reach in lower tier cities.”
CGS-CIMB Research shares the same sentiments as Ong and Tan say: “Grab will continue to maintain a strong balance sheet by preserving cash prudently. Investments will continue to be made in developing products and technological innovations. On the M&A front, Grab will remain selective and only consider targets which are earnings accretive and possess elements that support Grab’s current ecosystem.”
DBS on the other hand sees this as a right strategy for Grab to implement amid an impatient market. The research house expects revenue growth from the delivery segment to “take the hit” followed by fintech.
Shares in Grab last traded at US$2.72 on Sept 27.


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WASHINGTON — Rep. Frank Pallone Jr. (D., N.J.) is probing the Food & Drug Administration and the manufacturer of Wen hair-care products over what he said are persistent safety issues that have led more than 17,000 consumers to file complaints about a cleansing conditioner that has allegedly caused significant hair loss, visible bald spots and other adverse side effects.
“Consumers deserve to know that they are making safe choices when they purchase cosmetics,” Pallone said. “Unfortunately, since popular cosmetics and personal-care products are largely unregulated before they reach the marketplace, these products can contain harmful chemicals that have the potential to put consumers at risk.”
The Wen products are part of celebrity stylist Chaz Dean’s line of sulfate-free hair-care products that is marketed and distributed by infomercial giant Guthy-Renker LLC.
Pallone, the ranking member of the House Energy and Commerce Committee, sent letters to Georg Richter, president and chief executive officer of Guthy-Renker LLC, which he said is also the manufacturer of the Wen line of products, and FDA commissioner Robert Califf.
The New Jersey lawmaker asked Richter to provide information verifying the safety of the Wen Cleansing Conditioner.
“Complaints filed by countless customers on product forums, retail Web sites and consumer sites detail a number of adverse events related to the use of the product,” Pallone said in his letter to Richter.
In addition to the hair loss and bald spots, consumers have complained about hair breakage, scalp irritation, rash and burning scalp and eyes.
According to court documents, one consumer began losing “substantial and abnormal amounts of hair” within the first two weeks of using the Wen conditioner, Pallone said. He also noted that the consumer reported that despite discontinuing use of the product, the hair loss continued for nearly three weeks and resulted in loss of up to one-third of the person’s hair.
The complaints related to hair loss and breakage with use of the cleansing conditioner date back to 2008, Pallone said.
“Despite long-standing knowledge of safety issues related to the use of Wen products and thousands of consumer complaints, Guthy-Richter continues to deny safety issues associated with use of Wen hair-care products,” Pallone added.
He cited a statement made by the company defending its products, noting “there is no scientific evidence to support any claim that our hair-care products caused anyone to lose their hair.”
“Given the increasing number of consumers experiencing adverse events related to the use of your products, I respectfully request a briefing as soon as possible from the appropriate staff at Guthy-Renker to discuss the safety issues associated with Wen products,” Pallone said in his letter.
He also requested several documents from the company, including all assessments commissioned on whether the product causes hair loss or breakage, documents related to testing of the condition for safety and potential side effects or allergic reactions, a detailed time line of all interactions and communication with the FDA on potential side effects or safety issues, and all communication with the FDA about consumer complaints of hair loss or breakage, including a letter the company sent to the FDA in February 2014 detailing a company investigation, findings and conclusions.
Pallone asked the FDA when and how it became aware of safety issues associated with the Wen cleansing conditioner and what steps the agency took to address issues. He also requested information Guthy-Renker shared with the agency and whether it conducted its own inspection of the manufacturing facility and product to determine if proper controls are in place, and asked if the FDA has requested that Guthy-Renker and Chaz Dean Inc. conducted a recall of the product.


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It has been a while since Apple came out with new tablets so the company is expected to conduct an event next month to unveil new iPads. According to a new report, we will be treated to more than just new tablets at the company’s March event. Apparently, the company is going to launch a new iPad Pro 2, a (Product)Red iPhone 7 and iPhone 7 Plus as well as a 128GB iPhone SE at its event next month.
None of this has been officially confirmed at this point in time, obviously, considering that Apple is notoriously secretive about its product plans so much so that it doesn’t even drop hints like a lot of other companies do.
Japanese news outlet Macotakara reports that Apple will introduce these new iPhones with minor changes at its event next month. Apple may launch new, seasonal bands for the Apple Watch. The new iPads will certainly be the star of its event, Apple is expected to launch three of them, including a new 10.5 inch model. A new 9.7 inch iPad might be added to the lineup as well in order to replace the iPad Air 2.
This certainly doesn’t mean that Apple’s iPhone release quota for 2017 will be filled after it does launch what the report claims next month. Stay tuned until the fall because Apple will be coming out with the iPhone 8 which many expect is going to be a revolutionary update given that it’s the iPhone’s 10th anniversary this year.


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NEW INC X SXSW
We’re excited to announce that NEW INC will be participating in this year’s SXSW Interactive with a panel at the NEXT STAGE on Sunday, March 15 at 11 AM.
We’ve been open for five months now, and at the end of January, we had our first public showcase at the New Museum. Beyond the Bowery, we want to spread our story and let people know what’s incubating, to highlight the innovations that are happening and collaborations that are being forged on a daily basis.
If you’re planning on being at SXSW this year, join us for a panel on cultural incubators, with our Director, Julia Kaganskiy and members of our community, including Allison Wood, CEO of REIFY; Drew Seskunas, Co-Founder of The Principals; artist, Lisa Park; and Sabine Seymour, Founder and CEO of Moondial, and Founder of Moonlab.


text:
(Provided by TikTok-Yonhap)
Epik High, Zico and other top South Korean hip hop stars will perform as part of an online concert hosted by video-sharing mobile platform TikTok next week, the company said Thursday.
The company announced that it will hold the online concert, named TikTok Stage with Hiphopplaya, next Wednesday at 8 p.m. via the @tiktok_stage account on the platform.
Hip hop trio Epik High, rapper-singer Zico and 20 other artists, including Jessie, Jay Park, Crush, Heize, Changmo and Sik-K, will take part in the show, according to TikTok.
The company also plans to hold a separate online concert, TikTok Stage Live From Seoul, next Monday, starring several leading K-pop artists, including Apink, Oh My Girl, Monsta X, KARD and Kang Daniel. (Yonhap)


text:
By MICHAEL LIEDTKE, AP Business Writer
Internet search leader Google Inc. has added a landmark to its rapidly expanding empire; the Silicon Valley home where co-founders Larry Page and Sergey Brin rented a garage eight years ago as they set out to change the world.
The Mountain View-based company bought the 1,900-square-foot home in nearby Menlo Park from one of its own employees, Susan Wojcicki, who had agreed to lease her garage for $1,700 per month because she wanted some help paying the mortgage.
Wojcicki, now Google's vice president of product management, didn't work for the company at the time and only knew the Stanford University graduate students because one of her friends had dated Brin.
During Google's five-month history there, the garage became like a second home for Page and Brin.
The entrepreneurs, then just 25, seemed to be always working on their search engine or soaking in the hot tub that still sits on the property. They also had a penchant for raiding Wojcicki's refrigerator -- a habit that may have inspired Google to provide a smorgasbord of free food to the 8,000 employees on its payroll.
When Page and Brin first moved in the garage, Google had just been incorporated with a bankroll of $1 million raised from a handful of investors. Today, Google has about $10 billion in cash and a market value of $125 billion.
The company's astounding growth has imbued its birthplace with the same kind of mystique attached to other hallowed Silicon Valley spots like the Palo Alto garage where Hewlett-Packard Co. started in 1938 and the Los Altos garage where Steve Jobs and his partner Steve Wozniak first began to build Apple computers in the 1970s.
HP paid $1.7 million for 12-by-18-foot garage that co-founder William Hewlett first rented for $45 per month.
Google declined to reveal how much it paid for its original home, but similar houses in the same neighborhood have been selling in the $1.1 million to $1.3 million range. That's a small fraction of the $319 million that Google paid earlier this year for its current1-million-square-foot headquarters located six miles to the south.
Although the Google garage isn't considered a historic site quite yet, it already has turned into a tourist attraction.
The busloads of people that show up to take pictures of the house and garage have become such an annoyance that Google asked The Associated Press not to publish the property's address, although it can easily be found on the Internet using the company's search engine.
Google may use the home as a guest house, but nothing definitive has been worked out. "We plan to preserve the property as a part of our living legacy," said Google spokesman Jon Murchinson.
Copyright 2006 The Associated Press.
NOTE: For more telecom/internet/networking/computer news from the daily media, check out our feature 'Telecom Digest Extra' each day at. Hundreds of new articles daily. And, discuss this and other topics in our forum at (or) For more news and headlines each day, please go to:


text:
CFPB proposes T&C registry for nonbanks
On January 11, the CFPB announced a proposed rule to create a public registry of terms and conditions used in non-negotiable, “take it or leave it” nonbank form contracts that “claim to waive or limit consumer rights and protections.” Under the proposal, supervised nonbank companies would be required to report annually to the Bureau on their use of standard-form contract terms that “seek to waive consumer rights or other legal protections or limit the ability of consumers to enforce or exercise their rights.” The terms and conditions—which would be made publicly available—would include those that address waivers of consumer claims, liability limits, legal action limits, class action bans, arbitration agreements, liquidated damages clauses, as well as other waivers of consumer rights.
The Bureau explained that its proposal is intended to “facilitate public awareness and oversight” about what nonbanks are putting in form contracts. “Some companies slip terms and conditions into their form contracts that try to take away consumer protections, try to limit how consumers exercise their rights, or try to quiet consumer complaints or criticism,” the Bureau stated in its announcement. “[M]ore broadly, the terms and conditions potentially undermine consumer financial protection law.”
The Bureau provided several examples of such terms and conditions, including: (i) unlawful mandatory arbitration agreements that are included in servicemember loan contracts; (ii) credit monitoring service agreements that “undermine credit reporting rights” by prohibiting consumers from pursuing legal action, including class action lawsuits, for FCRA violations; (iii) occurrences where lenders use clauses that waive liability for bank fees that borrowers incur due to repeated payment collection attempts; (iii) mortgage contracts that make “deceptive” use of waivers and limitations that are inconsistent with TILA restrictions; and (v) terms and conditions that try to quiet consumer complaints or criticism.
All supervised nonbanks, including those operating in payday lending, private student loan origination, mortgage lending and servicing, student loan servicing, automobile financing, consumer reporting, consumer debt collection, and international remittances would be subject to the rule. However, the Bureau is proposing certain exemptions for nonbanks with lower levels of receipts. Comments on the proposal are due 30 days after publication in the Federal Register.
“[T]the registry would help regulators and law enforcement more easily detect when companies are offering products and services using prohibited, void, and restricted contract terms described above. This would be especially useful to state and tribal regulators with limited resources to alert or take action against companies violating the law,” CFPB Director Rohit Chopra said in an accompanying statement, adding that the Bureau plans to “use data from the registry to identify supervised nonbanks and the risks their terms and conditions pose, prioritize which firms to examine, and plan the scope of those exams.”
House Financial Services Committee Chairman Patrick McHenry (R-NC) slammed the proposal, saying the “proposed registry of terms and conditions will facilitate the naming and shaming of firms to empower progressive activists. Requiring nonbank financial firms to register publicly with the Bureau is unprecedented—no other industry is required to make public such detailed contract information. The days of Congress giving Director Chopra a free pass for his reckless actions have come to an end.”
The proposed registry follows a proposal announced in December by the Bureau that would create a database of enforcement actions taken against certain nonbank covered entities, which would include all final public written orders and judgments (including any consent and stipulated orders and judgments) obtained or issued by any federal, state, or local government agency for violation of certain consumer protection laws related to unfair, deceptive, or abusive acts or practices. (Covered by InfoBytes here.)


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Quick Note: "Unibody" iPhone 5 Casing Captured on Video
June 7, 2012 11:50 AM
The video confirms some previous predictions, such as a taller design
A new video, which offers a hands-on demonstration of the next-generation iPhone, was released on YouTube yesterday.
The nearly 5-minute video, which was released by parts reseller ETradeSupply, is not dramatically different from
the leaked iPhone 5 pictures
that hit the Web late last month. It confirmed a few suspicions while leaving other details in the dark for now.
9 to 5 Mac
managed to get its hands on some leaked photos of the next-generation iPhone. The pictures showed the backplates and frames of two upcoming iPhones -- one in black and one in white.
The video confirms what the pictures showed, which are backplates made of metal and plastic trim at the top and bottom. The metal antenna is molded into these metal backplates, likely as a way of making a unibody enclosure for stronger, yet thinner and lighter gadgets.
It also clearly confirmed that
he next-generation iPhone
will be the same width, yet longer. The screen will reportedly be longer with a size of 3.999 inches diagonally and will have a resolution of 1136 x 640. The video also shows a smaller dock connector and a relocated headphone jack.
One aspect of the next-generation iPhone that is left unclear is the size of the SIM card. Many believe it will be smaller in the next-generation iPhone, and the video shows that the SIM card holder piece is smaller in the new iPhone back piece than it was in the iPhone 4 and iPhone 4S. However, there is no actual measurement of the SIM card itself.
You can check out the video below:
9 to 5 Mac
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Idea Of Sales Tax Gaining Momentum
There is a growing sentiment among private sector representatives and professional organizations to replace archaic 6.6% excise tax system
BY JOSE L. CARMONA
May 16, 2002
Last weeks permanent injunction issued by U.S. District Court Judge Carmen Vargas Cerezo barring the local Treasury Department (Hacienda) from enforcing Law 13, and the public outcry to the recently approved excise tax hikes on sport utility & luxury vehicles, cigarettes, beer, wine, and spirits have renewed the debate of whether its time to replace the current, but archaic excise tax system.
Approved by the Calderon Administration in June of last year, Law 13 imposed an excise tax collection scheme on air cargo carriers, thus affecting how these companies could perform deliveries of taxable goods in a timely fashion to local customers.
Vargas Cerezos decision suddenly creates an unexpected $100 million shortfall in the governments fiscal year budget for 2003, which begins July 1. The government has appealed the decision, although it is unlikely it will be reversed, according to industry sources.
Additionally, legislation was recently approved to hike the tax on sport utility & luxury vehicles as much as 40%, as well as for significant tax increases to cigarettes, beer, wine, and other spiritsthe so called sin taxesas a means to balance the budget. The measures await Gov. Sila Calderons signature to become law.
Both issuesthe $100 million budget shortfall and the significant increase in sin taxeshave raised the issue of replacing the cumbersome 6.6% general excise tax with either a sales tax or a value added tax system.
Under the current excise tax system, taxes on consumer goods are collected at the port of entry and paid by the distributor, who then jacks up the price to cover for the excise tax. In a sales tax system, taxes are collected at the retail level and paid by the consumer at the point of sale.
Searching for an alternative
"During the legislative excise tax increase process, many members in the industry talked about the possible implementation of a sales tax. All agree that it is a fantastic idea, one that will benefit everyonegovernment, businesses, and consumers," consumer products distributor Mendez & Co. President Luis Alvarez told CARIBBEAN BUSINESS.
Alvarez firmly believes that the implementation of a sales tax in Puerto Rico would be highly beneficial to the island, as it would eliminate all the hassles related to the tax on importers and manufacturers, commonly known as the general 6.6% excise tax or arbitrio general and generate additional revenue for the government by including most of the activities of the underground economy that are currently excluded.
"There are a lot of things today that are not being taxed and should be," said Alvarez. "A sales tax system would be a more balanced and just way for the government to generate more revenue."
Atilano Cordero Badillo, chairman of Empresas Cordero Badillothe parent company of Grande Supermarketsagrees with Alvarez.
Cordero Badillo said that with a per capita income of $11,500, an annual government budget of $21 billion, and an underground economy estimated to be equal to the formal economy, the only way to solve the islands underground economy and tax evasion problem is through the implementation of a sales tax system.
"The salaried, hard working, honest people are the ones carrying most of the islands large tax load," said Cordero Badillo. "I believe a sales tax system would solve much of the tax evasion problems associated with an underground economy."
Another option to the excise tax is the value added tax, which essentially would have the same effect that of a sales tax, but it is collected at the distributor level.
In fact, the value added tax has been adopted by practically every country in the world except the U.S., although states such as Michigan and North Carolina have implemented some form of value added tax, noted Economist Ramon Cao Garcia.
According to Cao Garcia, the sales tax system would have some significant advantages over the existing general excise tax.
"In a sales tax system you collect the taxes at the retail level, which automatically eliminates the cascading effect. This allows for greater tax revenue collection while using the same tax rate or the same revenue collection at a lower tax rate," explained Cao Garcia.
The cascading effect refers to the price markups a product experiences when going through the distribution channel process, from distributor to retailer to consumer.
By eliminating the cascading effect, it is much easier and more precise to identify those activities or products to be taxed. This generates less inefficiency during the economic activity and widens the tax base, said Cao Garcia.
"There is less distortion on the products relative prices as there are in the general excise tax system," said Cao Garcia.
One drawback of the sales tax, Cao Garcia said, is that it requires a more complex system for its administration, as the government would have to audit the approximately 15,000 formal retail establishments on the island versus a few dozen distributors, Cao Garcia indicated.
"Thats probably the main reason people have criticized the excise tax system for so long, but has not been changed," said Cao Garcia.
Cao Garcia believes it will take the government at least two years to implement a sales tax system, but has serious doubts about the governments capacity to administer it. He said it would be easy to audit large retail establishments at shopping malls, but harder for smaller ones in remote locations.
"We have the technology to accept debit and credit cards in practically everywhere, but cash transactions will not be reported, thus opening a window for tax evasion," commented Cao Garcia.
Nonetheless, Cordero Badillo believes a sales tax system can be implemented in Puerto Rico, although it is not too sure that any of the political parties have the will to implement it.
"The island is electronically and technologically ready to implement a sales tax system. All government auditors will shift their efforts to audit retailers," said Cordero Badillo. "It can be done. Whether theres the political will to do it, thats another matter."
CPAs to commission study
"A sales tax could be the solution to Puerto Ricos tax reform," said Puerto Rico Society of Certified Public Accountants President Raul Rodriguez. "The Societys Foundation will commission a study on the possible implementation of a sales tax in Puerto Rico."
The goal of the study would be to measure how a sales tax system could efficiently fight the underground economy and if it would be fairer across all income levels, which Rodriguez stated everyone knows the current system is not.
Rodriguez contends that the implementation of a sales tax system on the island is just the beginning of a much wider tax reform that eventually will need to be addressed and would involve the municipalities and increases to property tax rates, which are based on 1956 numbers.
"It is clear the under the current system, we have been unable to reduce the underground economy. In fact, it has grown," said Rodriguez. "We have a problem and we cannot continue with the current system."
Rodriguez contends that the entire tax system has become complicated and must be revamped. One of the alternatives is the implementation of a sales tax system along with a flat tax income tax. The flat tax income tax would eliminate all the deduction process and the resulting loopholes that come with it.
"Where are we going with this? This can eventually bring a tax credit to those individuals making a certain amount of money per year," said Rodriguez. "They would receive a tax credit for the same amount."
Additionally, individuals could be eligible for an earned income tax credit, as these would be paying taxes on products that are not currently taxed, explained Rodriguez.
The study to be commissioned to the Societys Foundation is absolutely necessary to really measure the impact and the extent of a sales tax on the island, as well as of a value added tax, said Rodriguez.
"The mayors of Ponce and Caguas, Rafael Cordero and William Miranda, respectively, have personally confirmed to me their interest in contributing financially for the realization of this study," said Rodriguez. "In fact, Cordero has already pledged $25,000 for the study."
The study could begin as early as November or December and take six to eight months for its completion, noted Rodriguez.
Chamber to support study
Puerto Rico Chamber of Commerce (PRCC) President Jose Joaquin Villamil said that his organization would seek to join forces with the Society of CPAs to contribute and make the sales tax study a reality.
"Our position is that the entire tax system needs a complete overhaul, and that overhaul must move us towards a tax system that is more consumer based, such as a sales tax or an added value tax," said Villamil. "We definitely support a sales tax system."
Villamil believes theres a consensus large enough at all levels that thinks Puerto Rico must move towards that direction.
"This whole mess with the excise tax increases to cigarettes, sport utility vehicles, and alcoholic beverages, plus the issue with the air cargo carriers make the idea of a sales tax system easier to sell," said Villamil. "The sales tax absorbs most of the informal economy, is easier to administer, stimulates savings, and does not penalize productivity."
Selling it to politicians
"Politically speaking, the vast majority thinks erroneously that the implementation of a sales tax system in Puerto Rico would be detrimental to whomever promotes it," said Rodriguez. "They think its negative because now you dont see or feel the excise taxes, but people will notice the sales tax right away. Instead of something negative, I see that as a positive."
Rodriguez believes that if the sales tax is combined with an income tax credit, it will be very positive for whoever implements it.
"The governor that is bold enough to do this will make, historically speaking, one of the most far reaching and important government decisions ever made," said Rodriguez. "It could turn a negative thing into a very positive one."
Rodriguez will be visiting and working with local Senators and State Representatives to help them understand that the sell is a positive one.
"If politicians market the idea well, it could become politically positive for them," said Rodriguez.
Cordero Badillo is not as confident as to whether the politicians will buy it.
"Im pretty sure that if a legislative bill is presented, it will not pass because its a political issue," said Cordero Badillo. "Neither of the political parties in power will dare to implement such a tax. There is no political will."
As long as you have an import tax like the general excise tax in place, you are reinforcing the concept that Puerto Rico is an island. The moment you implement a sales tax, you are making the island look more like a state of the U.S., noted Luis Alvarez of Mendez & Co., adding that the Calderon Administration is avoiding the sales tax issue at all costs because they dont want to implement a system in Puerto Rico that would bring the island closer to the U.S. tax structure.
"Its a shame that because of political beliefs a good idea such as the sales tax is not evaluated on its own merits, but by its political impact and the perception it may have," said Alvarez.
House Speaker Carlos Viscarrondo has submitted a legislative proposal to study the implementation of a sales tax system in Puerto Rico. Senate President Antonio Fas Alzamora has said publicly that he would support such a study. Both legislative leaders were unavailable for further comment.
This Caribbean Business article appears courtesy of Casiano Communications.


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A Portland take on yesterday's U.S. World Cup win
It may be the “World” Cup, but Portland has certainly snapped off a tiny piece of it.
With the U.S.’s stirring victory over Ghana yesterday, here’s a quick recap of what’s going on locally:
- KGW’s Drew Carney earned a slice of the spotlight with some simple good timing. Carney reported live from the World Cup Beer Garden in Northwest Portland just as the U.S. landed the go-ahead goal. Carney promptly took off his jacket to reveal a U.S. shirt (although as Deadspin commenters noted, he wore a bicycle shirt, as opposed to a soccer jersey).
- The Daily Mail reports that Adidas is irked at Nike for supplying English team members with apparel that doesn’t have any marks identifying the players as the country’s representatives. “… the players went out in Miami wearing white T-shirts emblazoned with Nike FC in gold lettering but no three lions or flag of St George visible on the garments,” the paper wrote. An Adidas spokesperson told the paper the tactic was “naughty.”
- Finally, many Portland Timbers fans were put in a tough spot yesterday when Clint Dempsey scored the U.S.’s first goal.
Why’s that? Here’s the insight from the PBJ’s resident soccer analyst Erik Siemers shortly after Dempsey scored.
“Um, you realize that we’re cheering for a Seattle Sounder,” he pointed out.
In a town where the Sounders are a team non grata, that’s saying something.
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A look at the day's business stories from media outlets around Portland


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Last week, Bill Ackman gave a presentation on the promising future of J.C. Penney, the retailer he has acquired an 18% stake in.
The head of Pershing Square Capital talked about the future potential of the store, particularly under new CEO Ron Johnson, who had run Apple’s retail operations. Ackman, speaking at the Ira Sohn conference in New York, called the stock a contrarian play, noting he was speaking the same day it suffered a 20% fall in shares, it’s biggest one day decline.
But Ackman said the quarter included some cost-cutting targets that were positive even as sales figures were “disappointing.”
He had said “Ron Johnson referred to [Penney] yesterday as the Titanic. That’s a good characterization” and went on in detail to discuss sales chances and expenses.


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The Department of Justice filed an antitrust lawsuit today to block AT&T’s $39 billion takeover of T-Mobile, attempting to abort the marriage of the first and fourth largest mobile carriers in the nation, respectively. AT&T was hoping to acquire T-Mobile’s spectrum (i.e. the bandwidth that mobile data travels on), which would help AT&T improve Read More
Last month, the news that Google wanted to acquire New York-based AdMeld, a platform that helps publishers sell display advertising inventory, for $400 million felt a little like deja-vu. After all, it was another local acquisition, Google’s $3.2 billion purchase of ad exchange company DoubleClick back in 2007, that helped define Google’s dominance in online advertising. Apparently, the Department of Justice felt similar rumblings.


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Topic: iPhone 3GS
12/13/2010, 07:12 am
First announced in February 2009, the Google Latitude application for iPhone -- previously rejected from the App Store -- has been approved and is now available.
12/04/2010, 10:12 am
In an unprecedented sale designed to boost awareness of its wireless business and create an edge up on the competition, Radio Shack is knocking $50 off all iPhone handsets and offering trade-in incentives that could net customers a brand new iPhone 4 for as little as $25.
11/10/2010, 01:11 am
A recent study of over 50,000 smartphones has concluded that Apple's iPhone has the fewest malfunctions, but is particularly at risk to accidental drop-related damage.
11/01/2010, 05:11 pm
Confirming previous rumors, Target announced Monday that it will begin selling Apple's iPhone in time for the holiday season, as sales of the handset will begin at 846 of the U.S. retailer's stores on Nov. 7.
10/28/2010, 01:10 am
As T-Mobile loses its iPhone exclusivity in Germany to O2 and Vodafone, Apple has begun offering the iPhone 3GS and iPhone 4 unlocked without a contract to German customers, with the 16GB iPhone 4 model selling for 629 euros.
10/26/2010, 10:10 am
A glitch discovered in iOS 4.1 allows iPhone users to access contacts, call history and voicemail on a passcode-locked handset without knowing the numeric entry required to unlock the phone.
09/15/2010, 02:09 am
Motorola Droid users have a higher adoption rate of Android 2.2 than that of iPhone 3GS users and iOS 4.0, according to a new report.
09/08/2010, 10:09 am
A new rumor shared by the editor-in-chief of Wired suggests that T-Mobile, the smallest of the four major cell phone carriers in the U.S., will offer the iPhone 3GS later this year, but not the iPhone 4.
08/20/2010, 03:08 pm
The forthcoming iOS 4.1 software update will pack a number of fixes for Apple's mobile devices, including a problematic issue with the iPhone 4 proximity sensor. AppleInsider offers a closer look at the latest beta available to developers.
08/17/2010, 12:08 am
Apple will launch iPhone 4 in China in the first part of September with carrier partner China Unicom, just weeks after beginning sales of a WiFi-enabled iPhone 3GS in that market.
08/06/2010, 05:08 am
China Unicom said Friday it would begin selling Apple's iPhone 3GS with Wi-Fi on Monday.
08/04/2010, 11:08 am
A new survey of iPhone 4 users has found that owners of Apple's latest handset have experienced fewer dropped calls than those who own an iPhone 3GS, suggesting the real-world impact of the iPhone 4 antenna issue is a non-factor.
07/29/2010, 12:07 am
In a follow-up to his original review, Walt Mossberg of the Wall Street Journal continued to laud Apple's iPhone 4 as "the best device in its class," while warning of issues with weak reception and dropped calls.
07/22/2010, 03:07 pm
Users of iOS 4 on both the iPhone 4 and iPhone 3GS say their handset has constantly dropped wireless Bluetooth connections with both headsets and in-car systems.
07/20/2010, 10:07 pm
Apple sniped a shot at the component cost estimates published by iSuppli in its latest conference call report, suggesting that the estimates were not very close to reality.
07/15/2010, 08:07 am
A new rumor has stated that Apple will release an iPhone software update in the form of iOS 4.0.1 on Thursday, a day before the company has scheduled a press conference to talk about the iPhone 4.
07/13/2010, 07:07 am
Despite saying it "can't recommend" iPhone 4 in its blog, Consumer Reports also assigns Apple's newest phone the "highest rated" score as the best smartphone currently available in its official paid research reports.
07/02/2010, 04:07 pm
FaceTime supports iOS URL schemes, enabling users to initiate a call by clicking on a hyperlink. iPhone 3GS users can see and click the links but they don't work, not even for audio-only calls. Yet.
06/25/2010, 06:06 pm
Reception issues observed by new iPhone 4 owners, derided as the "Death Grip" by bloggers, appears to actually be a software issue that an iOS update is expected to resolve early next week.
06/25/2010, 03:06 am
In addition to its oddly secret 512MB of RAM, iPhone 4 also packs another important feature Steve Jobs gave only brief mention of during his introductory keynote at WWDC: support for High-Speed Uplink Packet Access (HSUPA).


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We can expect DirectX 12 games to look radically different in just a few years time, with PC gamers being able to expect that future titles will look as good as the CG in the latest movies. The news is coming from an interview with Stardock CEO Brad Wardell with Inner Circle Podcast, teasing the future of PC gaming and DirectX 12.
Wardell said that if game developers get down and dirty with DirectX 12, games with thousands of on-screen characters, or any large number of objects on screen are usually bound by the CPU when it comes to lighting. Ubisoft has even admitted this for its mess that was Assassin's Creed: Unity. The first generation of DX12 games will see a 10-20% boost, as they are written for DirectX 11 and running DirectX 12. But when there are new graphics engines that are built from the ground up for DX12, the real benefits are going to be very, very clear according to Wardell.
The Stardock CEO claimed that future games would look like The Lord of the Rings: Return of the King by the end of the current console generation. He cites the PlayStation 4 and Xbox One as resource heavy consoles, as they feature 8-core processors with 8GB of RAM and 64-bit operating systems and games that can access any and all of those resources easily. As time goes by, developers will squeeze much more out of the consoles.
Wardell continued, claiming that by the end of this console generation, PS4 and Xbox One games will look as good as movies compared to the games that are out now, which will look really dated by then. He teased that something "crazy" is being worked on by AMD, which is something really exciting. Maybe we're looking at a blend of Mantle and DirectX 12? Nintendo has also teased that it is working closely with AMD on something next-gen, so we'll have to wait and see. E3 2015 isn't too far away, either.
- > NEXT STORY: Visceral Games: 5 million players have played Battlefield Hardline
- < PREVIOUS STORY: Naughty Dog: Uncharted 4 at 60FPS on the PS4 is 'really f**king hard'


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If you are a cricket fan then this will be exciting news for you! Upcoming India versus West Indies ODI and T20 series has pumped up people with a lot of energy and cricket fanatics aren’t missing a single match. According to a report by LiveMint, Paytm users will get Rs 100 cashback on all match days!
In this offer, which is popularly promoted as ‘4 ka 100 cashback’ when a user transfers Rs 4 via Paytm UPI, they will get an assured cashback of Rs 100. This will be available for all match days that is going to happen from February 6 to February 20.
Apart from getting the Rs 100 cashback, the users can also take part in the referral program to get additional cashback. Both the parties (the one who refers and the one who accepts the referral) will get extra cashback. For promoting this campaign, Paytm has roped in Harbhajan Singh, Yuzvendra Chahal and Chris Gayle.
According to the LiveMint report, Paytm UPI was one of the biggest beneficiaries of the UPI transactions, it recorded over 926 million transactions in December 2021. According to the report, Paytm UPI has the lowest technical decline rates in India.
Paytm was also one of the first in the market before GPay, PhonePe, BharatPe and other digital gateways but the one drawback of this app is that the KYC process is not as good as the other payment apps.
For more breaking news, click here.


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JUNEAU, Alaska — The Alaska Department of Fish and Game (ADF&G) has compiled preliminary harvest and value figures for the 2017 Alaska commercial salmon fishery (PDF 130 kB). Although there are still fish being caught, the majority of 2017 salmon fisheries have ended. The 2017 commercial salmon fishery all species harvest was 224.6 million wild salmon with an estimated preliminary exvessel value of $678.8 million, a 66.7% increase from 2016’s value of $407.3 million. Of this total, sockeye salmon again came in as the most valuable species, accounting for 48% of the value at $326.1 million and 23% of the harvest at 52.4 million fish. Pink salmon accounted for 25% of the value at $169.0 million, and 63% of the harvest at 141.6 million fish. Chum salmon accounted for 19% of the value at $128.3 million and 11% of the harvest at 25.2 million fish. Coho salmon accounted for 6% of the value at $37.6 million and 2% of the harvest at 5.1 million fish. The Chinook salmon harvest was 251,141 fish with an estimated preliminary value of $17.8 million.
Forrest Bowers, Deputy Director of the Division of Commercial Fisheries characterized the 2017 Alaska salmon season as a banner year for the industry and State of Alaska. “Tremendous harvests occurred across Alaska â€“ from Kotzebue to Southeast, highlighted by an all-time record statewide chum salmon harvest. In addition, 2017 is the third year in a row statewide sockeye salmon harvest exceeded 50 million fish. Record wild salmon harvests like these are a testament to Alaska’s sound, science-based management, the professionalism of ADF&G’s staff, and thoughtful stakeholder engagement.”
In terms of pounds of fish, the all species wild salmon harvest of 1,041.0 million pounds ranks third in from 1975-2017 and is only the third time harvest has exceed 1 billion pounds. In terms of exvessel value, the all species harvest of $678.8 million ranks third from 1975-2017. This year’s chum salmon harvest of 25.2 million fish is the largest harvest ever. Along with record breaking numbers, this year’s chum salmon exvessel value, of $128.3 million ranks second best from 1975-2017. This year’s pink salmon harvest ranks third in terms of exvessel value and fourth in terms of poundage.
Bristol Bay enjoyed another great sockeye salmon season with 37.7 million sockeye salmon valued at $209.9 million. Not to be outdone by Bristol Bay, other fisheries experienced record salmon harvest in 2017, notably in Norton Sound where a strong coho salmon return provided a new record harvest of 191,000 coho salmon, in Chignik where the pink salmon harvest of just over 7 million wild pink salmon is a new record, and in the Alaska Peninsula where the harvest of nearly 22 million wild pink salmon is a new record.
Please note that these are preliminary harvest and value estimates that will change as fish tickets are processed and finalized. Dollar values provided by ADF&G are based on estimated ex-vessel prices and do not include post-season bonuses or price adjustments. The final value of the 2017 salmon fishery will be determined in 2018 after seafood processors, buyers, and direct marketers report the total value paid to fishermen in 2017.
2017 Commercial Salmon Harvest Summary http://www.adfg.alaska.gov/static-f/fishing/pdfs/commercial/2017_preliminary_salmon_summary.pdf


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Netflix wants to micromanage your viewing habits with “My Netflix”
The Netflix Phone App is getting a new personalized hub feature
Netflix is introducing a fresh personalization feature called “My Netflix.” This new tab aims to enhance user experience by making it easier and faster for users to find their favorite shows.
Netflix announced its latest addition to its iOS and Android apps worldwide. Named “My Netflix,” this new feature will be positioned as a tab at the bottom right corner of the Netflix interface, taking over the former “Downloads” tab.
Netflix describes this innovation as a “one-stop shop tailored to you with easy shortcuts to help you choose what you want to watch.”
The company plans to replace the downloads tab on its mobile app with this new feature, which will store titles that have received your thumbs-up rating alongside trailers you’ve watched and recent viewing history.
Although other elements of the mobile app remain unchanged (such as the home tab and games), it’s important to note that your personalized ‘My Netflix’ section will expand as you continue using the app and liking more titles.
The rollout of ‘My Netflix’ begins this week for iOS devices. Android users can expect access to this feature in early August.
- New Netflix feature allows easy profile transfers
- Netflix’s password shakedown begins now, $8 per user
- Your TV may soon host Netflix’s gaming service
- Netflix doubles down on 40 more games nobody asked for


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March 28, 2013 BY Aaron Hope
Nike Sportswear adds another epilogue to the Ken Griffey Jr. trainer saga with a style that borrows from a model that retroed for the first time about a year ago. The Nike Air Max 360 Diamond Griff is a Dynamic Flywire-equipped riff on the Total Griffey Max ’99, as made evident by wavy midsole tooling that imitates the 99’s signature element. Tonal grey colorups hadn’t reached maturity back when the original design debuted and haven’t been prominent in recent NSW Junior bringbacks, so this one is perhaps an even stronger mix of past and present. Decide for yourself after seeing more of the Dark Grey Diamond Griff below, then grab yours at select retailers like Sneaker Bistro.


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Disney researchers have been working intensively on growing touchscreens that allow you to really feel texture. Whereas electrovibration expertise should have change into a reality by now, there have been some delays in the process. However, tech specialists say that 2017 will herald the arrival of electrovibration know-how on a big scale throughout touchscreen devices. It works on the phenomenon that, via electrostatic prices, your mind is tricked into feeling texture just by touching the device’s display screen. Apple has additionally been working in electrovibration know-how and has filed a number of patents related to the know-how.
Epson Ex9200 is a projector that will not precisely fit in your pocket, nevertheless it’s … Read More . . .


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Jessica Simpson and a look from her new maternity line.
Photo: Getty Images/WWD
As if Jessica Simpson wasn't ALREADY owning the fash industry with her wildly successful Jessica Simpson Collection (New York Magazine deemed her "The $1 Billion Girl"), which carries everything from clothing to shoes to handbags, she's expanding her empire even FURTHER to include a maternity line! After the recent birth of her baby girl Maxwell Drew, we could help but notice her killer mommy-to-be style while promoting her new tween fashion line "Girls" AND starring as a mentor on NBC's Fashion Star this year. Jessica signed a deal with Destination Maternity and created a collection that will include tons of "breezy, everyday pieces" that are inspired by a vintage '70s feel, according to the press release. The line will include denim, leggings, printed tops, maxi dresses, body-conscious jersey knit dresses, chunky knit sweaters, jackets, and blazers.


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- Former Apple engineers have developed a camera system that uses machine learning to identify manufacturing defects early in the production of gadgets.
- Now, the cameras are being used to manufacture Motorola smartphones.
Before they launch a high-profile gadget, consumer electronics companies usually fly armies of engineers to China, where they spend weeks in remote factories hammering out manufacturing problems that can turn hot new electronics into a hot mess.
Inside the industry, it's called the design process, and it's a slog. "Nobody builds it perfectly the first time," Instrumental co-founder and former Apple engineer Anna Shedletsky said.
So Shedletsky founded Instrumental with an ex-Apple colleague, Sam Weiss, who had also spent months in China troubleshooting Apple products before they were officially launched. The 4-year-old start-up builds a system of cameras for assembly lines, then couples it with software that uses machine learning to detect defects before they go into production.
If Instrumental catches on, it could enable more companies and start-ups to produce high-quality gadgets in Asian factories without the resources of a consumer electronics giant.
"What the process means for consumers is that they are less likely to get a product that has an issue or has a failure of the unit," Shedletsky said. "Look at the Samsung issues they've had over and over — issues that got shipped that should never got shipped."
One of Instrumental's top clients is Motorola, the Lenovo subsidiary, which has been using Instrumental's cameras since early 2018 to make its smartphones.
"Instead of sending an army of engineers at an enormous cost, every engineer can view assembly data on every unit from their desks thousands of miles away," Motorola senior manufacturing manager Kevin Zurawski said in an email.
Tiny defects that start on the manufacturing line — for example, a seam that is a few millimeters larger than its tolerance or a component that has decreased in quality — can end up causing major embarrassment for electronics companies when the devices are sold to the public.
High-profile manufacturing issues in recent years include Samsung's Note 7, which had a battery issue that caused the phone to catch on fire, or Samsung's Galaxy Fold, which has seen its release date pushed back indefinitely after early units broke. Even Apple recalled one of its older chargers earlier this year.
"Look at Amazon reviews — there are a lot of dead on arrival products, or 1-star review experiences. It impacts the company's ability to sell products, and companies are more and more aware of the impact of a bad experience on social media," Shedletsky said.
Fixes happen in what's called the design verification testing phase. Basically, before an entire factory gears up to assemble phones, companies put a single manufacturing line together to make sure the process works and all the pieces fit together correctly.
That's how Motorola used Instrumental's camera technology on the manufacturing line. That camera takes a picture of each device that goes through the assembly process, and then compares the pictures to figure out if there are places where parts are missing, or assembled wrong, or have some other problem that stands out.
This is what one of Instrumental's pictures looks like:
"Instrumental's machine learning allows for unit-to-unit comparisons, build-to-build comparisons, immediate operator feedback when defects are detected, therefore reducing high dollar rework and component scrap costs," Zurawski said.
"It saves money in several ways," Shedletsky said. "The Motorola team believes that it accelerates what's called 'product maturity,' or finding the issues earlier, and fixing them with real engineering fixes — not bubble gum and tape."
Instrumental has raised $10 million from venture capitalists and has 26 employees in the U.S. and China. More funds may be needed as more companies start to embrace machine learning as a core tool to reduce the amount of human labor required in manufacturing.
One of Instrumental's competitors, for example, is Landing AI, which was founded by deep learning pioneer Andrew Ng. It has a deal with Foxconn, Apple's main contract manufacturer, according to a 2017 post.
"In developed economies, deeply integrating AI into manufacturing will also pave the way to power a new generation of products, devices and experiences," Ng wrote in the post.
One possible stumbling block for these companies is the intense secrecy around manufacturing, especially in the electronics world.
It's not just companies like Apple or Motorola trying to prevent leaks around their upcoming products, but also the fact that the actual manufacturing fixes discovered in the design phase are treated as valuable core intellectual property.
"Secrecy has made manufacturing a lagging industry in terms of applying new technologies, but there are ways to respect the secrecy and get the benefit of new technologies," Shedletsky said.