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FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “CleanSpark Announces $20m Financing to Support Microgrid Solutions for Commercial Customers Including Cannabis Growers.”
CleanSpark, Inc. (OTC: CLSK), a microgrid and custom electrical equipment company featuring advanced, proprietary engineering, software and controls for innovative distributed energy resource management systems, announced it has secured $20m in financing to support various microgrid initiatives for commercial customers. This committed financing will help accelerate the development and deployment of CleanSpark’s Distributed Energy Resource (DER) Solutions to commercial customers.
CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. The company’s services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services, and turn-key microgrid implementation services. CleanSpark’s software allows energy users to obtain resiliency and economic optimization. Software is uniquely capable of enabling a microgrid to be scaled to the user’s specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal, deployment.
Most U.S. cannabis companies are generally small, privately-owned businesses because federal regulations limit their expansion. A few of these limitations even restrict companies from transporting cannabis over state lines, however, some companies have expanded outwards and have begun launching operations in multiple states. While regulations hinder the growth of the industry, the exponential growth the cannabis market so far has exhibited the fact that it is catching the attention of investors, analysts, and even other industries. A handful are looking to integrate cannabis into their business models, while others are just holding a stake within the industry. Moreover, larger cannabis players have begun to buyout other smaller companies within the marketspace, as they are looking to either expand established operations within a region or expand to a new area. In particular, mergers and acquisitions (M&A) are expected to be a large part of a pivotal transition period for the cannabis industry. As M&A begin to ramp up, larger players will see their financials grow, thus accelerating the overall cannabis industry even further. According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016. By 2023, the market is expected to reach USD 65 Billion, registering a CAGR of 37%.
Now, pharmaceutical, tobacco, and beverage sectors have all taken interest in the cannabis market. For instance, beverage and tobacco producers are looking to manufacture and commercialize cannabis-infused products for both medical and recreational applications. On the other hand, pharmaceutical companies are looking to leverage cannabis for its therapeutic medical benefits, since many medical institutions believe that cannabis can be an alternative to commonly used traditional drugs such as opioids. PricewaterhouseCoopers said that these companies are seeking economies of scale, expanding their patient base, securing consumer-centric products and brands, entering new markets or acquiring protected distribution channels. “All deals start with strategy. It’s critical that the deal strategy aligns with all other levels of a business’ strategy—corporate, growth and M&A—to reinforce the overall corporate direction. This allows companies to better source and approach M&A targets to achieve their growth objectives,” said PricewaterhouseCoopers, “Planning for successful integration of a target is critical to realize shareholder value. While the task may seem daunting, approaching it in a methodical manner supported by the right people and systems can make it much easier. Ultimately, the rewards for a successful integration can far exceed the costs and risks of deal-making.”
For more information, please visit: CleanSpark, Inc.
For more corporate news on CleanSpark Inc., check out the Buzz on the Street
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.


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Tipplers in ‘God’s own country’ drank up 70 percent more wine and 36 percent more beer in December 2015 compared to November that year. Government-run Kerala State Beverages Corporation (Bevco) witnessed a general spurt in its liquor sales during Christmas and New Year season. (more…)
In a bid to go after rampant manufacture and sale of illicitly distilled liquor, the Andhra Pradesh Government is finalising a strategy to make the State free of it by April-end. (more…)
When it comes to alcoholic beverages, Indians prefer Beer over Whisky or Rum.
According to Goonj India Index 2015 report made exclusively available to Zeenews.com, Beer tops the list of alcoholic beverages followed by Wine, Vodka, Absinthe and Champagne in the first five spots. (more…)
Mc Donald’s position as the market leader in burgers may soon get threatened as new international chains such as Wendy’s and Carl’s Jr are seeking revenues through more enticing categories like beer and wine to go with their burgers. (more…)
What the right hand is doing. After the Delhi government allowed the pubs to operate, two departments are holding up permits for opening micro-breweries in the city. (more…)
ICICI Bank, the country’s largest private sector lender, today picked up 19.58 lakh shares of United Breweries Limited for a little over Rs 186 crore through an open market transaction. (more…)
Craft beer company B9 Beverages on Tuesday said it has raised $6 million (approx. Rs.37 crore) in Series A funding from Sequoia Capital and other investors for its handcrafted beer brand Bira 91. (more…)
The cult around microbreweries and craft beer is growing. Once you have had this, you will never have that yellow fizzy industrial stuff they call beer, says craft beer evangelist and entrepreneur Greg Koch as he extolls the virtues of crafted beer. The craft beer brewing fraternity from Mumbai and Pune swore to fight for independence from boring ‘industrial beer’ and introduce people to the flavours of real beer made by real people. (more…)
East End Foods, the creator of Himalayan Monkey, has announced the release of a second authentic Indian bottled beer.
Shimla joins Himalayan Monkey – the craft beer designed to pair with spicy foods, which FoodBev first reported on back in June – in being released for general sale this month. (more…)
More than 20 months since the state government’s new liquor policy was put into action, the results have left the state with much to cheer about, but there is also room for ample concern. (more…)

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NC company plans indoor skiing
Global warming and temperatures better suited to sunning than skiing may not mean a thing to a new ski area planned west of Asheville.
Canton Wintersports Center at Westmoreland Resorts in Canton promises five slopes ranging from 900 to 3,100 feet in length, six triple chairlifts and a 900-foot vertical drop -- all under an 80-acre roof. The project would cost about $700 million.
Indoor skiing: it's not just for Japan and Dubai anymore.
"It'll be a massive indoor ski resort that will have alpine runs for skiers and a double diamond run for adrenaline junkies," owner Steve Westmoreland said in a news release. "For snowboarders, we'll have a half-pipe, a super pipe and a mogul run."
But, wait, there's more.
The resort would also have a winter sports stadium, a 480-foot ice-climbing wall (billed as the world's largest artificial wall) and cross-country skiing "through a submarine tunnel connecting all tourism attractions onsite."
The area could open as soon as 2009.
Apparently, the dome is no fluke. Another indoor ski area -- this one costing $1 billion and covering a million square feet -- is planned for North Georgia's Dawson County. Mount Pegasus' developers claim that it would be the world's largest ski area under glass.
Does the prospect of year-round skiing under controlled conditions worry neighboring ski areas?
Tony Wadell, general manager at Cataloochee Ski Area just west of Canton, doesn't see it as an immediate threat. "We think if it is going to happen it's a long way down the road," says Wadell, who has been monitoring the development.
And if it is built? The more the merrier, he says.
"I'm of the opinion that the more ski areas we have, the better off we are." He pauses, then adds, "Provided they're run well."


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Microsoft has a new Windows 10 feature in the works — one that’ll tie your license and product key information to your Microsoft account. In theory, this could make swapping hardware or reinstalling the OS simpler.
Microsoft is rolling out the most significant set of hardware changes that it’s made to Windows in almost a decade. Most of these will only impact system builders, but there’s increased RAM requirements, support for larger screens, and mandatory support for the secure computing TPM 2.0 standard.
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Putting global trends to growers
Rabobank for the first time has a New Zealand-based horticultural analyst.
New senior horticulture analyst for Rabobank, Hayden Higgins, is calling on growers to come forward with worthy projects for him to research.
He’s based in Hastings and will be responsible for research into the horticulture and viticulture sectors for the bank across Australasia.
“My goal is to provide insightful research for clients and product groups,” he said.
He forms part of a team of five Rabobank horticultural analysts around the world whose research is intended to inform both clients and the industry and provide the bank with data to assist with their lending criteria.
Hayden has a Bachelor’s Degree in Agribusiness from Massey University and completed his Master’s Degree through Lincoln University with his dissertation project focusing on the governance of large farm businesses in New Zealand. Originally from the Horowhenua region in the North Island, an area known for horticulture and pastoral farming, he developed a keen interest in the agricultural sector from a young age.
He joins the bank’s food and agribusiness research team after eight years as a major agribusiness manager with Rabobank New Zealand. He has also served as chair of Rabobank’s NZ horticulture strategy team since 2014.
Rapid growth of crops such as cherries or avocados could lead to an interesting analysis of global consumption trends.
“We want to gather information to outline future opportunities and challenges for growers,” he said.
Other areas of potential interest may be for organic production, or changing buyer patterns such as on-line retail. Consumer attitude to sustainability, and their willingness to pay for that at retail would also be an interesting area to analyse. Shoppers also have a greater desire to know where their food comes from.
Other global focuses include a move away from single use plastics, however consumers are often conflicted because they want convenience products which often means plastic
packaging is included to guarantee food safety. Examples of packaging changes away from entirely plastic are the new Rockit-style cylinders. Food wastage is another area of global
The picture for horticulture in the last six to seven years has been positive, with a reduction in trade barriers allowing better export access, particularly in emerging Asian economies. Consumption trends and competition for consumers’ fruit bowls could also bring important lessons back to producers in NZ.
“Consumers are looking for food safety and quality, and new and different food productions, strong marketing brands such as Zespri have pushed into Asian markets,” he said.
Also, new varieties of apples have found a greater appeal in Asian markets.
“This lays a strong platform for confidence and growth.”
Consumer trends toward greater convenience and snacking foods bode well for fruit such as apples and blueberries. Millennials have a different approach toward shopping than previous generations, which may include greater convenience, or a willingness to shop every day.
“My role is to understand the trends that are occurring globally in the food and horticulture space,” he said.
One of his current projects is analysis for the Australian and United States’ almond industries. In conjunction with colleagues in California, they are looking at global supply and demand, the effect on pricing and what this means for Australian and US growers.
“I can then bring this learning back to customers, the upside and the downside.”
Rabobank NZ holds around 16 percent of rural lending in this country and is a major provider of corporate and business banking services to the food and agribusiness sector. The NZ and Australian research team is part of a global network of more than 80 analysts across the bank.
“Millennials have a different approach toward shopping than previous generations, which may include greater convenience, or a willingness to shop every day.”
Hayden Higgins – analysis of global trends can show growers new opportunities.


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MVNO FreedomPop said that around 30 percent of its subscribers opt for its paid tiers of service. The figure is notable because it finally shines a light on a strategy that wireless carriers have been testing for years: offering a small amount of wireless data for free in the hopes users will purchase more.
Verizon Wireless (NYSE:VZ) was one of the nation's first wireless carriers to dip its toe into the "freemium" mobile data market. At the end of 2010 the carrier announced that it would offer 100 MB per month for free to people who purchased Google's (NASDAQ:GOOG) first batch of laptops running its Chrome operating system. The offer no longer appears to be available.
In the intervening years, a number of other companies have tried similar tactics. Most notably, FreedomPop launched an MVNO service on Clearwire's (NASDAQ:CLWR) network offering 500 MB of data in the hopes users would upgrade to paid data tiers or would purchase one of its various value-added services. Just last week, T-Mobile USA joined the fray with its new 4G Connect program, which provides 200 MB of free data to notebook, tablet and ultrabook users.
The freemium model--a portmanteau of "free" and "premium"--is similar to the idea of a "loss leader" in the retail world where a product is sold below its market cost in order to stimulate additional sales (think inexpensive TVs at Walmart on Black Friday). The freemium model is heavily used in the mobile content area, where mobile gaming companies and other app makers offer a free version of their app in the hopes users will like it and opt to buy a paid version with additional features. Mobile analytics company Flurry found that around 3 percent of mobile app users upgrade to a paid tier.
But FreedomPop's initial data shows that the free-to-paid conversion rate for wireless data is much higher than that, at around 30 percent. FreedomPop CEO Stephen Stokols attributed the figure to the fact that FreedomPop users must first invest as much as $100 for a FreedomPop device before they can make use of the service, potentially priming them for additional expenses. He also pointed out that the company has customers' credit cards on file, making purchases as simple as touching a button.
FreedomPop's 30 percent conversion rate is just one of the figures Stokols provided to me during an interview at the recent Consumer Electronics Show in Las Vegas. He said the MVNO's most popular paid tier is 2 GB for $17.99, and its second most popular tier is 5 GB for $35. He said that around 10 percent of the company's customers travel over their allotment of 500 MB free per month, and thus must pay overage fees.
But FreedomPop's business model isn't solely based on encouraging users to move to larger data allotments. Stokols said the company offers a handful of value-added services, and plans to add additional services in the future. Specifically, he said 30 percent of FreedomPop's customers pay $3.99 per month to increase the speed of their wireless connection. Around 27 percent pay $1.99 per month for usage alerts that will warn them if they are nearing the limit of their data allotment. And about 10 percent pay $3.99 per month for the company's equipment protection package, essentially insurance for lost or damaged hardware.
Stokols said FreedomPop eventually plans to offer around 20 different value-added services. The next two on tap are online security and anonymized, VPN-based Internet browsing, which will launch in a few weeks. FreedomPop also recently inked an agreement with textPlus to offer voice and messaging capabilities as value-added services; Stokols said FreedomPop likely will offer 200-300 voice calling minutes per month for $3.99, ranging up to 1,500 minutes for $14.99 per month.
Although FreedomPop's free 500 MB per month doesn't seem like a lot of data, it's very close to the average amount of cellular data that Android smartphone users consume, according to data from NPD Connected Intelligence. NPD's data shows that the average Verizon Wireless Android smartphone user consumed exactly 500 MB per month during October.
Though FreedomPop's Stokols was surprisingly candid about the company's free-to-paid conversion rate, there was one key number he declined to provide: the number of FreedomPop's subscribers. Obviously that's the most critical part of the equation, since it would indicate how many people actually sign up for a freemium wireless data model.
FreedomPop's grand freemium experiment is intriguing, and Stokols seems both aware of the company's challenges and excited for the company's future. I think this kind of pricing experimentation can only push the industry forward. +Mike Dano


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ARM Holdings is to pump extra funds into its research and development activities as the chip designer, reporting profits ahead of City forecasts, enters the software market.
ARM said it was to “accelerate investment” in laboratory work to exploit opportunities it has identified to “broaden [its] technology portfolio”.
The investment comes amid a drive to reduce its reliance on the mobile phone sector for patronage. ARM , which is aiming to increase to 50 per cent the share of its revenues coming from makers of other electronic devices, said the proportion of takings coming from non-wireless sources had increased to 32 per cent in the April to June quarter.
The company has also expanded its presence in the computer programme sector through an agreement last…


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Sony has admitted that there may be an issue with some of
its Bravia TVs after a number of them started smoking.
The problem relates to a component in eight different models
of it Bravia TVs which may be faulty and can in some cases overheat. While Sony
has not issued a full recall of the TVs, it has offered customers access to an
engineer who will come to your house and check out your TV.
All the affected models are LCD TVs sold since June 2007.
They are: KDL-40D3400, KDL-40D3500, KDL-40D3550, KDL-40D3660, KDL-40V3000, KDL-40W3000, KDL-40X3000,
Since June 2007 Sony has sold 1.6 million sets worldwide
with 630,000 of them being sold in Europe.
The problem with the TVs was initially reported in Sony’s home territory of Japan. While Sony has admitted there is a problem, it has also pointed out that there
has been no damage to property or individuals as a result.
Should your TV begin to smoke or make strange noises, then
you should turn it off, plug it out and contact Sony directly. It has not
set up a specific number for the problem so far, but its general customer service number
is 0844 8466 555.
In other bad news for Sony, the company has frozen
93,000 PSN accounts after noticing a large number of failed login attempts.
A statement on the PlayStation blog said:
”We want to let you know that we have detected attempts
on Sony Entertainment Network, PlayStation Network and Sony Online
Entertainment (“Networks”) services to test a massive set of sign-in IDs and
passwords against our network database. These attempts appear to include a
large amount of data obtained from one or more compromised lists from other
companies, sites or other sources.”
It added that only 0.1 per cent of PSN, SEN and SOE users
were affected by the freeze and the issue has arisen following the huge amount
of data being compromised in the PSN hack earlier this year.


text: Games giants Bandai Co and Sega Enterprises Ltd, who on Tuesday scrapped plans for a merger, have both reported disappointing results for the year, according to The Nikkei Daily News. Bandai posted a group net loss of $69m for the year ended March, compared with a 1995 profit of $89.7m. Group revenue slipped 8% to $1.7bn due to poor sales of game software and the discontinued Pippin CD-ROM player. In the wake of the poor performance and the failed merger plan, Bandai’s president, Makoto Yamashina, is resigning his post and will become chairman at the end of June. A successor has yet to be chosen. Sega announced a consolidated net profit of $17.2m, down from $36.2m in a year earlier. Revenue rose 12% to $3.7bn and consolidated operating profit doubled to $99.1m, but the company’s US subsidiary recorded a disturbing $172.4m loss. For the current year, Bandai predicts a group profit of $21.6m while Sega expects profits of $25.9m. Both companies insist that the cancellation of the merger had no impact on projections for the year.


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In this week's Saturday Essay, Livingstone says he has introduced congestion charging because he wants London's businesses to succeed.
"I want to see the capital thriving, to see its businesses able to move people and goods about freely, easily and efficiently, at the smallest possible cost to both those businesses and their customers."
Congestion was costing London's businesses and residents between £2m and £4m every week. A cut in congestion could only help those making essential food deliveries and independents running their own grocery stores, Livingstone says. "I know that some business people believe their trade will suffer. I have to say, I believe the opposite. You have to ask yourself, if through this scheme we make central London a better, more attractive, less congested and more pleasant environment, people will prefer to visit it and buy their goods there."
He adds that in Singapore and Trondheim, where charging has already been introduced, retailers found trade improved after the initial disruption. Since the introduction of the charge three weeks ago, traffic levels have been cut by about 20%.
>>p32 Saturday Essay


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LONDON (CNNMoney) -- Lamborghini has a problem with fire.
The legendary Italian automaker is recalling thousands of supercars, including its ultra-rare Veneno model, because of a fire risk.
"In certain driving conditions while the vehicle has a full gas tank, gasoline may contact the exhaust system... [this] can increase the risk of a fire," reads a recall notice published by the U.S. National Highway Traffic Safety Administration.
Lamborghini said Wednesday that it's aware of seven cases of fire worldwide.
The recall includes all 12 Venenos currently on the roads. Lamborghini bills the 12-cylinder monster as a racing prototype that's legal to drive on the streets. It sells for between $4 million and $4.5 million.
Lamborghini said that Veneno owners in the U.S. were notified about the recall on Tuesday.
The automaker is also recalling roughly 5,900 Aventadors, which boast a $400,000 starting price.
Lamborghini, which is owned by Volkswagen Group, recently announced record global sales for 2016. It delivered 3,457 cars last year, up 7% from 2015.
A company spokesman said owners should take their cars to a dealership for a fix that will take one to two days to complete. The company has about 135 dealers worldwide.


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According to a new report from ABI Research, Android-powered tablets have finally done the unimaginable; they have outsold the iPad. With a 17% dip in sales for the quarter from Q1, global tablet sales are up 23% year-over-year for the same quarterly period. In addition, the research firm found that 7″ models are now the majority of tablets sold, thanks to the iPad Mini (7.9″) and all of the various Android OEMs that currently produce 7-inch slates. (more…)
Here we are, just after the two week mark from Apple announcing to the world that they would start producing a gold variant of their new iPhone, and apparently, gold fever has spread. Samsung has taken to their social media outlets in the United Arab Emirates to announce that they will have two new gold-colored Galaxy S4s coming to market sometime soon. (more…)
Guess what, a software update can’t actually waterproof your phone. A phone (at least any of today’s current models) can’t sense “changes in thermo-distribution” and shut your phone down should it come in contact with water. What am I referring to? This week’s iOS 7 waterproofing debacle of course. (more…)
The timeline has gone from “early summer” to “summer” all the way down to “sometime this fall.” Even still, PopCap and EA assure us that Plants vs. Zombies 2 is coming eventually. The delay of the Android version of this game has gotten out of hand, but news today straight from inside EA say that there is a reason behind it: Apple has paid to keep it delayed. (more…)
Microsoft is finally getting around to developing a personal assistant for Windows Phone users, as they ready a Windows Phone 8.1 update that is said to feature Cortana. As for the name Cortana, she is an AI character featured in the Halo video game series, personified by the above-pictured girl. (more…)
One of the more interesting announcements to come out of the iPhone debut earlier this week was that Apple has put the work in to make sure their upcoming flagships would be on the 64-bit standard. True to form, we saw the rest of the mobile industry reacting to what Apple has done with Samsung as no exception. Co-CEO for Samsung, Shin Jong-Kyun, has been quoted as saying that Samsung would join in on the 64-bit architecture in their upcoming phones. (more…)
The Apple announcements are in, and we have a new iPhone 5s and iPhone 5c to swoosh around our brains like Drano. I think you can probably imagine how we feel about each, especially if you joined us during our live blog, so this is the technical comparison. We’ve got the specs of each pulled directly from Apple’s site, compared to the leading Android devices of the moment. A few things were missing, like RAM and battery capacity, but we’ll likely see those before long and will try to update.
Until then, jump below to take it all in. (more…)


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Langton Capital – 2020-04-02 – Consumer trends, Saga, Wm Hill, Gfinity, Gear4Music & other:
Consumer trends, Saga, Wm Hill, Gfinity, Gear4Music & other:
A DAY IN THE LIFE:
A rash of RNS statements this morning ate up the time. See out ongoing thoughts on Twitter #brumbymark. On to the news:
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CGA ON CHANGED CONSUMER ATTITUDES DURINT / POST COVID-19. The market is currently much-changed. Some attitudes will persist. 2 April 2020.
Changing consumer behaviour:
Longer term factors:
Resilience of the British pub etc. See Premium Email.
PUBS & RESTAURANTS:
• SSP accesses government debt, says is OK.
• SSP Group yesterday updated on its access to the Covid Corporate Financing Facility saying that ‘this facility is designed to provide liquidity for companies which have been impacted by the COVID-19 outbreak, by allowing them to issue commercial paper through the Bank of England’ and says it is ‘pleased to announce that it has secured access to this scheme and has today made a drawdown of funding under the scheme.’
• SSP says ‘access to this scheme, together with the recent equity placing, will be used to strengthen the Group’s balance sheet during this period of unprecedented disruption to the global travel market as a result of the COVID-19 outbreak.’
• The group says ‘based on the scenario planning undertaken by SSP management, and described in its announcements last week, the financing arrangements we have put in place will provide sufficient liquidity to enable SSP to operate throughout even its most pessimistic trading scenario (as set out in the RNS of 25th March), leaving it well positioned to return to growth as markets normalise.’
• Farming Today has reported that that UK is facing a shortage of fruit and vegetable pickers this year. It says around 29,000 will be needed on farms by the end of this month and there are virtually none registered to date.
• Domino’s Pizza Group Plc has announced the appointment of an Interim Chief Financial Officer saying that Neil Smith has been appointed with effect from 15 April 2020. Neil Smith was most recently CFO of Ei Group plc (formerly Enterprise Inns).
• McDonald’s has said it will be screening restaurant employees as a “precautionary” measure to ensure that workers are “feeling their best” at the beginning of each shift. This would appear to be a move to reassure customers that staff handling their food are not carrying the coronavirus. The process will start with a simple questionnaire for employees.
• A number of publications & websites yesterday carried stories suggesting that the sale of alcohol was to be banned. These were presumably April Fool’s jokes. Perhaps not the funniest, under the circumstances.
• Criterion Capital is once again in the news re the harsh letters that it has been sending out to tenants telling them to pay their rent. Tenants in London’s Trocadero Centre have this week received stern warnings that they will be taken to court if they do not pay the rent that was due last Wednesday.
• A new initiative has been launched in order to allow pubs to operate as shops. Powered by StarStock, mypubshop.com will give pubs nationwide the ability to take and process orders online. This is intended to provide them with income whilst they will not be allowed to function in their traditional role.
• The above initiative is being supported by Admiral Taverns and its 1,000 pubs along with Greene King Pub Partners and St Austell. The partnership will work with wholesaler Brakes. StarStock says ‘we are all aware of what is happening around us, and in these exceptional times this is a vital way for pubs to stay connected, offer an essential service and to secure an income stream during a period when they are unable to trade in their normal way.’
• Wishful thinking?
• Davey Co and Colliers International have suggested that the property market for pub sector units will recover sharply once the Covid-19 crisis is over. That does not strike us as likely.
• Paul Davey of Davey Co says that, although the market should be better, ‘from a prospective purchaser’s perspective, many now have far more time on their hands to make enquiries, download particulars of businesses for sale and make further enquiries on the available for sale stock.’
• C&C has launched a delivery and click and collect app to allow on-trade sites stock up if they are able to deliver or sell to takeaway during the coronavirus lockdown.
• EI Group has drawn attention to one of its tenants, the Tia Maria Bar & Restaurant in South Lambeth, London, which is preparing and delivering up to 60 freshly cooked meals to NHS staff for free each day.
• Chapel Down has said it thinks it is ‘very well placed to weather the crisis and thrive in the aftermath.’ Nonetheless, it has temporarily closed its beer and cider arm, Curious Brewery.
• Commercial Kitchen 2020 is now cancelled.
• Actions speak louder than words. JD Sports has stopped paying rent to its landlords.
• In the US, liquor sales are up by 24.9% reports Nielsen as consumers there stock up ahead of any potential lockdown. Sales in the off-trade in the US nearly doubled last week in total with online sales +253%.
• GSK reports that it has completed the sale of Horlicks and other Consumer Healthcare nutrition products in India to Unilever.
• An Amazon worker who led a walkout at a New York City facility earlier in the week in protest against the company’s Covid-19 response, has been fired.
• Administrators to Laura Ashley have made 268 staff redundant and placed 1,669 on furlough.
• Red Robin Gourmet Burgers Inc in the US reports that it has more than doubled its off-premise sales in the past two weeks. The company has drawn down the parts of its $300 million credit facility that it had not previously utilised.
HOLIDAYS & LEISURE TRAVEL:
• Carnival Corporation has increased the size of a rescue bond sale backed by its cruise ships to $4bn after receiving strong demand. The company warned that it still might only have enough cash to stay in business for some eight months. It’s bond issue has been raised from $3bn to $4bn. The coupon is reported to be 11.5%. This compares ‘favourably’ with virtually non-existent rates in the banks – but it also carries a risk as the business may not be viable if the self-imposed bans on cruising are not lifted. CCL shares yesterday fell by 21%.
• Saga has updated on trading saying that underlying Profit Before Tax for the (now very historic) year to end-January is expected to be £110m, in line with the target range of £105m to £120m. It goes on to say that the dividend will be suspended.
• Saga updates on the impact of Covid-19 saying insurance is ‘largely unaffected’ and adds that its ‘travel operations have successfully repatriated almost all customers and are supporting rebooking efforts across Tour Operations and Cruise.’
• The group has ‘taken action to protect its balance sheet and increase near-term liquidity by’ drawing down £50m of agreed debt and reducing costs as well as suspending its payments to shareholders. CEO Euan Sutherland says ‘against the backdrop of COVID-19, the outlook is uncertain, but we remain confident that the Saga brand, and our Insurance and Travel businesses have a successful future ahead.’
• William Hill has announced the appointment of Matt Ashley as William Hill’s Chief Financial Officer designate. It says ‘he will join the Company and be appointed as an Executive Director to the William Hill Board on 6 April 2020.’ The company also announces that Stephen Parry will join William Hill’s Executive Committee as Chief Operating Officer later this year.
• Stock market moves yesterday. Not a good day for the travel & hotel stocks. Carnival off 21%, DART Group down 14%, Hollywood Bowl off 11%, Intercontinental Hotels 10% lower, On the Beach off 9%, Restaurant Group down 12% and Whitbread some 10% lower.
• BA has announced that it is to suspend c36,000 staff this week. No staff, at this stage, are set to be made redundant.
• Commenting on the European hotel market, STR says that ‘Europe is at the epicentre of the COVID-19 outbreak, and the impact of the virus is reflected in its hotel performance, according to sources.’
• It says that ‘in regards to Europe we have hit the bottom.’ Some operators are predicting a sharp bounce back (from almost zero at present) whilst others are forecasting a prolonged recession.
• STR is reporting REVPAR declines of between 85% and 90% in most major European destinations. Daily rates are down sharply and ‘Italy is virtually at 0% occupancy.’ Unless maths has changed since I left school, zero multiplied by anything is zero.
• Travel Weekly reports a ‘significant number of the major insurers in the UK have pulled out of the travel insurance market’ and, at the end of the day, who can blame them. TW highlights Aviva, LV and Direct Line amongst 31 insurers who have vacated the field.
• Irish hotel group Dalata says that it will take until 2022 for hotel bookings to return to normal following the coronavirus outbreak. Delata has temporarily closed 29 of its 44 hotels in the UK & Ireland.
• Hollywood Bowl Group has updated further on Covid-19 saying all its sites are closed (since 20 March) and adding that it welcomes government measures such as the suspension of business rates. Capex has been cut and refurbishment have been ‘paused’. The company says ‘management has always adopted a prudent approach to its cost base and capital expenditure and, with the benefit of its cash generative business model, has maintained a strong financial position.’
• BOWL says there will be no dividend and, regarding the outlook, it says ‘as a result of the uncertainty surrounding the impact of COVID-19, the Board is unable to provide financial guidance for the full year ending 30 September 2020 until the expected duration of centre closures becomes clearer.’
• Gear4music has updated on trading for its year to end-March saying that ‘we now expect profits for the financial year ended 31 March 2020 to be ahead of previous expectations.’ The company says ‘whilst it is impossible to predict what further operational actions may become necessary during the coming weeks and months, we remain committed to operating safely and serving our valued customers for as long as Government guidance allows.’
• Esports company Gfinity PLC is proposing to raise £2.25 million via a placing of new shares. It says the ‘net proceeds will provide capital to support further growth as the Company sharpens its strategic focus on three core areas of existing success and competitive strength.’
• CEO John Clarke says ‘this fundraising marks the final step of our strategic review process. The funds raised further strengthen our financial position following on from the previously announced sharpened strategic focus for the business and the significant reduction of our cost base. We now have a solid cash position to ensure that Gfinity can continue to capitalise on the exciting market opportunities we see ahead.’
• Wimbledon and the Edinburgh Fringe Festival have both been cancelled.
FINANCE & ECONOMICS:
• IHS Markit reports the UK Manufacturing PMI for March fell to 47.8 from 51.7 in February. The outturn is a little worse than the flash estimate of 48.0.
• Markit says ‘the latest survey numbers underscore how the global outbreak of COVID-19 is causing huge disruptions to production, demand and supply chains at UK manufacturers. Output and new orders fell at the fastest rates since mid- 2012, while supplier delivery times lengthened to the greatest extent in the 28-year survey history as shortages grew more widespread.’
• Markit reports the Eurozone Manufacturing PMI fell to 44.5 in March. Italy, Spain and France are ahead of the UK when it comes to Covid-19 disruption.
• A survey undertaken by Bank of America suggests that 11m people in the UK are currently not working. If, and it’s a big if, they were all furloughed, this will be costing the government (i.e. us, the taxpayer) around £25bn a month in pay-outs with perhaps another £10bn per month in lost taxes, NIC etc. A 3mth shutdown could cost over £100bn in increased borrowing.
• Sterling stronger at £1.2383 and €1.1321. Oil higher at $26.33. UK 10yr gilt yield down 6bps at 0.31%. World markets lower yesterday, Far East down today. UK market set to open down around 40pts.
o The BCC says nearly a half of the firms in the UK will furlough at least half of their staff from next week. This could cost the taxpayer between £20bn and £50bn a month in CJRS payments and lost tax receipts.
o Debt charities in the UK have urged that Chancellor to write off £10bn worth of council tax debt owed by the poor to local government.
o The government is facing pressure to test more NHS staff. Only 2,000 out of 1.2m (0.17%) have thus far been tested.
o Only 7,500 people were tested in the UK yesterday. Germany tests 50,000 per day regularly.
o In Germany, the ratio of recovered people to deaths is 20:1. In the UK, only 0.06 of a person has recovered for every death. The ratio is therefore 333 times worse in the UK. This is down to a different attitude towards testing rather than a deadlier strain of the disease.
START THE DAY WITH A SONG:
Yesterday’s song was Ooh La, by The Kooks. Today, perhaps with the Covid-19 crisis in mind, who sang?
I should be crying,
But I just can’t let it show,
I should be hoping,
But I can’t stop thinking
RETAIL WITH NICK BUBB:
• Pets at Home: Today’s pre-close update from that “essential retailer” Pets at Home flags that after a strong end to the year to March 26th, PBT will be slightly above the top end of market expectations: “in the closing weeks of the financial year we experienced exceptional levels of demand, both in-store and online, as the COVID-19 crisis developed, and have seen existing customers increase average basket size by pulling forward purchases, as well as new customers access our pet products and healthcare services”.
• B&M: Yesterday’s update from B&M came out at the unhelpful time of 12.29pm, to flag that “as a significant retailer of food, drink, cleaning, healthcare, pet food and other essential products our B&M UK fascia and Heron Foods businesses have continued to trade”, but it also noted that 49 UK stores (representing c3% of annual turnover) have been temporarily closed, as they were mostly small units inside shopping centres. The stores in France are closed, however.
• Q1 Watch: The new calendar quarter, Q2, got off to a terrible start yesterday (unless you are a hedge fund short), but we still spent some time looking back at the pattern of Retail “winners” and “losers” in Q1. The All-Share index fell 26% in Q1 and even the defensive Food Retail sector was down as well, by 10.5%, with the majors broadly down by about the same amount. There was one winner, which was Naked Wines (+11%) and a couple of significant losers, Greggs (-30%) and Hotel Chocolat (-37%). The embattled General Retail sector was down by 37% overall in Q1 and there were no winners, although investors in Carpetright can count themselves lucky that the 5p takeover from Meditor went through in January…Pets at Home, however, was only 8% down and the likes of Howden and AO.com were “only” c25% down (B&M was 33% down). At the other extreme, investors in N Brown and French Connection
TRADING STATEMENTS & EVENTS:
Upcoming results are set out below:
• 2 Apr 20 Covid-19 updates: Saga, Hollywood Bowl, Gear4Music
• 3 Apr 20 Constellation Brands numbers
• 23 Apr 20 Gear 4 Music FY numbers
• 23 Apr 20 Domino’s (US) Q1 numbers
• 28 Apr 20 Pepsi Co Q1 numbers
• 29 Apr 20 YUM Brands Q1 numbers
• 7 May 20 Intercontinental Hotels Q1 numbers
• 12 May 20 On the Beach H1
• 13 May 20 Marston’s H1 numbers
• 13 May 20 Stock Spirits H1
• 13 May 20 Compass Group H1
• 13 May 20 C&C full year numbers
• 14 May 20 Flutter AGM
• 21 May 20 Young & Co full year numbers
• 11 Jun 20 Fuller’s FY numbers
• Covid ££ side effects #23. More (permanent) remote working? Landlords may be on the back foot but it’s unlikely tenants will give them a break. If remote working works, then why not do more of it? A non-starter for pubs but it could save 10% or 15% of sales for others.
• Covid ££ side effects #24. More hoarding (& waste)? Will empty shelves scare (or scar) consumers or is this all a big nothing? Probably not the latter. A shock could raise the savings ratio. Could make bla-blahing about a ‘sharp bounce back’ a bit wishful?
• Covid ££ side effects #25. Shortages, cardboard, who’d a thought it? But it makes sense. Recycling down, bulk shipping down => no pulp etc. Gimme bread over cardboard any day. But we’ve been used to both.
• Covid ££ side effects #26. Cut dividends further expose criminal folly of final salary pension schemes. How can we pay for them? I mean, how? Youngsters paying for the Boomers? Again? Langton, as so often, in the squeezed middle.
• Covid ££ side effects #27. Poverty is the new black. Is premiumisation going to have to take a back seat when we get back to ‘normal’? Personal balance sheets are taking a pasting, perhaps ‘trading up’, ‘upselling’ and the like will be so, well, yesterday?
• COVID Qs #6. When you stress tested your business model, did you have this in mind? No? And we grind to a halt when it snows, our flood defences don’t work. Yes, these are rare events but is it sensible to have a bit of financial fat on the bone? Ask a grizzly in October.
LANGTON CAPITAL: Made in Hull. Like all the best things. Langton Capital is a financial advisory company providing insightful views on the UK and global leisure industry and the wider consumer sector in general. Subscription to the daily email is free. Unsubscribing is painless. We provide daily off the shelf and bespoke research. We have helped with transactions, fund-raisings, disposals and other corporate issues. We have a good ear, we are impartial, independent and not half bad at what we do. If you think that we could help you or your business, drop us a line.


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If you scroll through Corvette production numbers between 1970 and 1976 you’ll notice that there’s no mention of the color black in there anywhere. Now, we all know that GM bigwigs could pull some strings and a get a Corvette in essentially any color they wanted. That’s the case here in which GM’s President, Pete Estes, ordered up a loaded black 1972 roadster. We caught up with this rarity at an NCRS event last weekend.
Auctions America by RM will be hosting their annual Spring auction in Auburn, Indiana this weekend.
The 3-day sale takes place Friday – Sunday, June 1 – 3 at the sprawling Auburn Auction Park. Last time we counted there were nearly 400 cars up for grabs including over 30 Corvettes. You know the drill, so click past the jump to see our favorites being offered this weekend.
Last week we told you all about the people and organizations being inducted into the 2012 Bloomington Gold Great Hall. As promised, we now present the 10 Corvettes to be included in this year’s Great Hall. The cars of the class of 2012 include the oldest production Corvette, a wildly popular styling car, and a pair of famous L88 racers.
A 1969 Chevrolet Corvette doesn’t usually end up as a rally car in Switzerland.
But this video shows a C3 Stingray more than holding its own apparently competing in the Rallye Critérium Jurassien 2012 against a Ferrari and another small car.
SF in Mississippi submitted this 1968 Corvette T-Top Coupe to Corvette Values:
1968 Corvette T-Top Coupe, VIN #194378S419XXX. Corvette Bronze with Dark Orange vinyl interior. All original body with no modifications. Base 327/300 hp engine, automatic transmission, power steering, power brakes, air conditioning, rear luggage rack. True mileage unknown. Car termed to be in “good” condition. Documentation includes warranty papers.
Find out how we valued this Corvette Coupe after the jump.
Mecum Auctions will offer nearly 200 Corvettes for sale this week in Indianapolis at their 25th Annual Spring Classic auction. Corvettes make up almost 10% of the expected 2,000 car docket. The event kicked off yesterday with “Super Tuesday” and concludes on Sunday, May 20th. The team at Velocity will provide 32 hours of live auction TV coverage. That’s almost double last year’s coverage. Click past the jump to check out some of the highly desirable Corvettes being offered in Indy.
Not everyone has a garage to keep his Corvette inside, safely tucked away from the deadly evils that constantly lurk to try and destroy our pride and joys.
But now Mid America Motorworks is offering a great solution to those of us who have to store their Corvettes outside.
The new Diamond Car Cover features five revolutionary layers of waterproof and ultraviolet resistant material to keep your Corvette safe and sound from the elements.
A legend in the Corvette world for more than 50 years passed away last Tuesday in Newport Beach, Calif.
Andy Porterfield first started racing Corvettes in 1957, and amazingly he was still racing them in 2012 at the age of 80!
Mecum Auctions rolls into Houston, Texas this weekend for their inaugural event there. The shiny new 2-day sale takes place Friday, April 13th and Saturday the 14th at the Reliant Center. The Velocity team will be sporting their very best blue shirts and khaki pants throughout their 12 hours of live coverage. Right now, there are over 60 Corvettes listed on the docket.


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According to a report by Group-IB, the data of approximately 100,000 individuals in India was compromised due to a hacking incident affecting their ChatGPT accounts.
The interest in ChatGPT, from all corners of the web, has been evident for the past several months. Powerful tools such as these are always going to attract users with both good and bad intentions.
For example, Sophos X-Ops have identified “fleeceware” apps on both the Apple and Google app stores. These apps charge subscription fees for what is available as a free product.
“We have also recently seen evidence that cybercriminals are using ChatGPT to craft phishing lures. Getting access to paid accounts, which removes some restrictions, raises rate limits, and uses the most current models is something that would be attractive to would-be thieves,” John Shier, Field CTO- Commercial, Sophos, said.
Once publicly released, there’s not much a user can do to claw their data back. In the case of user accounts, immediately changing the password and turning on multi-factor authentication (MFA) can possibly evict the imposters and prevent future compromise.
OpenAI accounts support MFA but only for legacy enrolments. As of 12 June 2023, OpenAI have paused new MFA enrolments. This is concerning. Not only should this be the default for a modern service, but also because of increased attention by cybercriminals.


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Press release….press release….press release….
Fresh new service at The Mall Blackburn
The Mall Blackburn has added an innovative dry-cleaning service to its customer offering thanks to a partnership with Accrington based professional garment care company Acorns of Lancashire.
Available at the Ask Me Point, the service is a pioneering alternative to traditional dry-cleaning and customers can drop off items any day of the week and collect them every Tuesday and Friday.
The WetCare system uses sophisticated methods to safely clean items of clothing that are normally dry-cleaned.
The environmentally friendly process, which produces excellent cleaning results, is perfect for sensitive skin and delicate fabrics.
It uses water and a safe, biodegradable liquid mixture to ensure garments are left clean and smelling fresh without the use of dry-cleaning chemicals and harmful solvents.
Jason Cothliff, Ask Me Point Supervisor at The Mall Blackburn, said: “We are absolutely delighted to be offering this service at our Ask Me Point through Acorns of Lancashire.
“We are constantly looking for additional ways to make life easier for shoppers and dry-cleaning is one of those unavoidable chores that is always put to the bottom of the list.
“Now customers can simply drop off and collect their items when shopping – perfect!”
Brendan Duffy, Owner of Acorns of Lancashire, added: “Our partnership with The Mall will open up a whole new customer base for us and we are very proud to be working with the team there.
“Our mantra is ‘Proud of our Standards’ and I can confidently say that this is mirrored by The Mall staff that will be delivering this offering.
“Since launching our company in Accrington in 2013 we have been leading the way for WetCare in Lancashire and the UK and this is another very exciting step in our journey.”
Earlier this year management at The Mall invested £30,000 to extend and update its Ask Me Point to allow for the increase in demand after the introduction of services such as the hugely popular Collect Plus and the new children’s ride-in carts.
In addition, there are interactive digital touch points that allow shoppers to browse centre maps, current retailer and Mall job vacancies as well as information about centre events.
The Ask Me Point is home to five highly trained customer services advisors, headed up by Supervisor, Jason Cothliff.


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Senate Health and Human Services Committee Chairman Joshua Miller and House Finance Committee member Scott A. Slater have introduced legislation to make marijuana legal for adults 21 and older and to establish a system in which marijuana is regulated and taxed similarly to alcohol.
Senator Miller (D-Dist. 28, Cranston, Providence) and Representative Slater (D-Dist. 10, Providence) discussed the legislation during a news conference at the State House today, addressing the implications from a law enforcement point of view and also the potential revenue benefit to the state.
“Marijuana prohibition has been a long-term failure,” said Senator Miller (D-Dist. 28, Cranston, Providence). “Forcing marijuana into the underground market ensures authorities have no control of the product. Regulating marijuana would allow the product to be sold safely and responsibly by legitimate businesses in appropriate locations.”
“Most Rhode Island voters agree it is time to end marijuana prohibition and start treating the product like alcohol,” said Representative Slater. “Eliminating the criminality of personal use of the substance will allow law enforcement to focus their attention on curtailing the more serious and dangerous drugs on our streets.”
Regulation of the substance, the legislators said, will allow the state to create barriers to teen access, such as ID checks and serious penalties for selling to those under 21. Taxing marijuana sales could generate tens of millions of dollars in much-needed tax revenue for the state, a portion of which will be directed towards programs that treat and prevent alcohol and other substance abuse.
The measure would allow adults 21 and older to possess up to one ounce of marijuana and grow up to two marijuana plants (only one may be mature) in an enclosed, locked space; establish a tightly regulated system of licensed marijuana retail stores, cultivation facilities, and testing facilities; enact an excise tax of up to $50 per ounce on the wholesale sale of marijuana flowers applied at the point of transfer from the cultivation facility to a retail store (a special 10-percent sales tax will also be applied at the point of retail sale); and require the Department of Business Regulation to establish rules regulating security, labeling, health and safety requirements.
A majority of Rhode Island voters (53 percent) support changing state law to regulate and tax marijuana similarly to alcohol, according to a survey conducted by Public Policy Polling last year. Only 41 percent were opposed.
Twenty-three states and the District of Columbia currently have laws legalizing marijuana in some form. Many of those states, including Rhode Island, have passed medical marijuana laws allowing for limited use of cannabis. Four states have legalized marijuana for recreational use. In Alaska, adults 21 and older can now transport, buy or possess up to an ounce of marijuana and six plants. Oregon voters approved a similar measure allowing adults to possess up to an ounce in public and eight ounces in their homes. Marijuana adult-use legalization was approved by voters in Colorado and Washington in 2012 and both states have since implemented the policies. Officials in the District of Columbia are moving ahead with plans to implement a marijuana initiative approved by voters.
The legislation is similar to bills introduced during the 2014 session, but includes some important changes. This year’s bills clarify that landlords do not have to allow the consumption, cultivation, display or transfer of marijuana on or in their property. Also clarified is a timeline for the Department of Business Regulation to issue a registration and to begin accepting applications for retail registrations. The 2015 bills also include language that requires the department to prohibit or regulate additives to marijuana and marijuana-infused products, including edibles, and language mandating random sampling to ensure quality control.
The legislation also proposes to add a new section to state law. “The Hemp Act” would define the plant, allow it to be grown as a crop in the state and sets registration procedures for hemp growers.
The Miller bill, 2015-S 0510, has been referred to the Senate Committee on Judiciary. Co-sponsors include Sen. Paul V. Jabour (D-Dist. 5, Providence), Sen. Donna M. Nesselbush (D-Dist. 15, Pawtucket, North Providence), Sen. Michael J. McCaffrey (D-Dist. 29, Warwick) and Sen. V. Susan Sosnowski (D-Dist. 37, South Kingstown, New Shoreman).
The Slater bill, 2015-H 5777, has been referred to the House Committee on Judiciary. Co-sponsors include House Minority Leader Brian C. Newberry (R-Dist. 48, Burrillville, North Smithfield), Rep. Edith H. Ajello (D-Dist. 1, Providence), Rep. Christopher R. Blazejewski (D-Dist. 2, Providence) and Rep. Anastasia P. Williams (D-Dist. 9, Providence).
Unbiased, Unfiltered. WBOB's Original Reads feature our brightest and boldest personalities, offering their two-cents on the goings on of news, sports, politics, entertainment, and business. -- Are our opinions always PC? Nope. Are they always perfect? Nah. But, are they always 100% authentic? Absolutely!


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This evening, Versace’s sister line Versus returned to the London Fashion Week show schedule to debut its AW17 collection.
Last season, the Italian label ensured it hit headlines with a catwalk show that featured rising star Bella Hadid, while the model’s older sister Gigi sat on the front row with her former One Direction boyfriend Zayn Malik at her side.
But this season, Donatella Versace ensured her show was even more newsworthy. Gigi didn’t just sit on the sidelines and watch the proceedings; instead she got her game face on and modelled the new season’s ensembles herself.
A post shared by Donatella Versace (@donatella_versace) on Feb 18, 2017 at 11:35am PST
Models clad in shearling jackets, which, the brand stated, were given a “tech update”, sharp shapes and contrasting volumes filed out and walked around the sparse Kensington Olympia venue to a hardcore trance soundtrack featuring Kanye West, Beyonce and Prince.
Gigi was barely recognisable with her long locks obscuring half her face, and her eyes coated in layers of electric blue eyeshadow. Biker boots and a structured black dress, completed with the brand’s trademark zip detailing, finished the look.
Gigi wasn’t the only Hadid sister to take to the runway. Bella also walked in the show – and closed it – wearing a fluffy, long-sleeved crop top and a latex midi skirt slit to the thigh at both sides.
Her other look was a cropped shearling jacket paired with wide-leg trousers and a chunky leather belt.
In addition to cropped clothing, leather and zips, the collection played around with prints, creating a new pattern from torn-up and over-painted iconic Versus imagery taken from the label’s 90s lookbooks. The images, shot by Bruce Weber, were splashed onto nylon and Versace’s iconic metal mesh.
Designs were mainly black-centric but a bright blue popped up throughout on fuzzy jumpers. This particular shade wasn’t taken from any highbrow reference. Instead, Donatella copied the hue from the cheap plastic bags given out at your local corner shop.
Logomania is still going strong with the Versus name branded onto the front of ribboned dresses and across sports socks. Lightning bolts also became a signature icon, used in the place of zips and as earrings.
A post shared by Donatella Versace (@donatella_versace) on Feb 18, 2017 at 1:12pm PST
A post shared by Donatella Versace (@donatella_versace) on Feb 18, 2017 at 1:37pm PST
The FROW was equally starry and filled with an assortment of models, musicians and fashionistas.
Kate Moss’ younger sister Lottie, Daisy Lowe, model Jourdan Dunn, Tinie Tempah, Ellie Goulding and Will.I.Am were among the A-listers who watched the show.


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Ekso Bionics Holdings Inc., a robotic exoskeleton company, announced the promotion of Thomas Looby, MBA, to president and chief commercial officer. The company has also hired Niel McCaffrey as its vice president of Engineering, Medical.
Looby will be responsible for expanding global sales and marketing operations, as well as overseeing clinical, customer service and regulatory divisions, according to a company press release.
“Tom has made great progress for us…to begin laying down a foundation for significant growth over time in the medical space,” Nate Harding, Ekso Bionics Inc. CEO and co-founder, stated in the release. “We wish to make a focused effort leading further clinical studies and educating the market on the economic benefits of using exoskeletons in the rehabilitation setting. Tom’s medical device experience and seasoned leadership skills are poised to make that happen.”
Looby joined Ekso in 2014, where he served as chief marketing officer and led development of the global hospital and rehabilitation marketing strategy. He previously served as senior vice president and chief marketing officer at Given Imaging, and corporate director of marketing and business development at Eastman Kodak.
McCaffrey previously worked at Becton Dickinson Medical. In his new role, he will focus on the advancement of Ekso Bionics’ medical engineering team and intellectual property library.
“Facilities around the world are demonstrating the benefits of rehabilitation using patented Ekso Bionics robotic exoskeleton technology,” Harding said. “Our early successes in the rehabilitation clinic are very encouraging and we plan to expand our leadership into the home setting where mobility and associated wellness are of utmost importance.”


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By WSJ Tues., March 19, 2019 This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Good morning. Jeff Sparshott here to take you through key developments in the global economy. Send us your questions, comments and suggestions by replying to this email. IT'S A TRAP! U.S. semiconductor companies want no part of any trade deal that calls for stepped-up purchases from China. Washington has pressed Beijing to buy more than $1 trillion in U.S. goods and services as part of an agreement, and China has offered to buy $30 billion of U.S. chips over six years. But U.S. chip makers have told President Trump’s administration not to include them, Bob Davis reports. Why? Because U.S. production costs are so high, mandatory-purchase quotas would essentially force U.S. chip makers to open new factories in China and give Beijing bureaucrats more sway over the U.S. firms. That would benefit Chinese … [Read more...] about Real Time Economics: Market Forces vs. Government Fiat
1 billion vs 1 trillion
By Megan Henney Published February 05, 2019 Amazon FOXBusiness Facebook Twitter Comments Print video Amazon employees purchased NYC real estate before HQ2 announcement Stoltmann Law Offices principal Andrew Stoltmann on whether Amazon employees should be punished for buying real estate in Long Island City before the company announced that it would be moving its second headquarters’ there. The future of Amazon’s planned New York City expansion could be in limbo, thanks to a brewing fight between Gov. Andrew Cuomo and the newly Democratic-controlled State Senate. Continue Reading Below On Monday, the new Democratic majority in the state Senate selected Sen. Michael Gianaris of Queens, a noted critic of the clandestine, $3 billion Amazon deal, to the Public Authorities Control Board, which could be the deciding force behind the development plan for Amazon. And if it's presented with the plan, will have the power to veto it, as … [Read more...] about Amazon vs. New York: State, city officials amp up criticism of HQ2
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Feb. 4, 2019, 3:40 PM GMT By Herb Weisbaum Hackers stole nearly 447 million consumer records containing sensitive personal information last year, according to the 2018 End-of-Year Data Breach Report from the Identity Theft Resource Center. That’s a jump of 126 percent from 2017 (when roughly 198 million sensitive records were stolen) and a new record for the number of compromised files in a single year. “Data breaches are now a normal, everyday occurrence," the report concluded. While the number of U.S. data breaches dropped 23 percent from last year’s high (1,244 vs. 1,632), that’s nothing to cheer about. If breaches are down, but more records are stolen, that’s a serious problem, said Eva Casey-Velasquez, ITRC’s president and CEO. “This is telling us that we are creating a system and processes … [Read more...] about You’ve been breached: Hackers stole nearly half a billion personal records in 2018
By Jonathan Lansner | [email protected] | Orange County Register PUBLISHED: February 1, 2019 at 7:30 am | UPDATED: February 1, 2019 at 7:31 am It’s a match-up of two “super” economies. Los Angeles vs. New England (aka Boston) are indeed American heavyweights. Their metropolitan areas rank No. 2 and No. 10 nationally in population, respectively, and they’re both home to dynamic industries creating cutting-edge products and services. (Oh, I hear they do have excellent football teams, too!) So, who might be crowned business champ in head-to-head competition? Amid Super Bowl fever, I tossed into my trusty spreadsheet various bits of government data plus stats from Experian, National Association of Homebuilders, CoreLogic, Gallup, PwC, St. Louis Fed, AAA and Rentonomics, creating two dozen yardsticks of recent economic performance for these two metropolitan areas. Then we sized up which region had more business muscle! We kick off by comparing how friendly … [Read more...] about Los Angeles vs. New England: Who’s got a more ‘super’ economy?
The future of ecommerce, no matter the platform, is rock solid. Jacky Chou Published 8:00 am CST, Tuesday, January 22, 2019 Photo: Guillaume Payen | Getty Images Photo: Guillaume Payen | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Guillaume Payen | Getty Images Amazon vs. eBay: The Future of Online Shopping 1 / 1 Back to Gallery With easy availability of nearly every product in the world, online shopping has made the lives of millions of people more convenient than ever. Previous generations depended on catalogs to order and purchase things you couldn’t grow on a rural farm, and now many of us depend on online shopping to keep up with our busy lives both at … [Read more...] about Amazon vs. eBay: The Future of Online Shopping


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Microsoft will indeed hold a big event dedicated to the upcoming releases on Xbox. The authors promise to share new information about Minecraft Legends, Redfall, Forza Motorsport, as well as a new update for The Elder Scrolls Online. You can follow the presentation on YouTube and Twitch.
The Developer_Direct event will reportedly focus on “big features, extended gameplay demos, and the latest information on Xbox games launching in the next few months, including The Elder Scrolls Online, Forza Motorsport, Minecraft Legends, and Redfall.”
The news confirms an earlier rumor that Xbox will hold a showcase for its upcoming games, with the name of the event and the games that will be showcased confirmed. That rumor also said that Starfield would be conspicuously absent, leading some to speculate that it would appear much later in the year. In the announcement Xbox Wire confirmed that Starfield will have its own standalone show at a later date.
The show begins January 25 at 12:00 PM PT and 3:00 PM ET on the Xbox and Bethesda Twitch and YouTube channels.


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Several state officials and auto makers are pillorying Volkswagen AG's plan to sell battery juice to Americans driving electric cars, contending the project more resembles an unfair government-backed windfall than penance for cheating on emissions tests.
The German auto giant will build an extensive network of charging stations in the U.S. in coming years, part of a $2 billion, decade-long promotion of environmentally friendly transportation in a market where electric cars are unpopular. The commitment is part of a broader settlement with government officials and consumers after Volkswagen admitted to installing illegal software on nearly 600,000 diesel-powered vehicles in the U.S. that duped emissions tests.
Seven Republican and Democratic state attorneys general have appealed to the Environmental Protection Agency, arguing Volkswagen's plan could give it an unfair leg up on other car companies. Volkswagen says its chargers will only meet a fraction of the projected need for drivers of electric vehicles, and that it isn't blocking other companies from pursuing competing plans.
Its investment into the charging stations is separate from other significant financial penalties the auto maker agreed to in the emissions case. Volkswagen views the plan as consistent with its effort to transform the company to one investing in electric vehicles instead of diesel technology.
With an initial $300 million investment outside California, Volkswagen plans to create more than 450 charging stations in 39 states both along highways and at workplaces, retail centers and other sites. The company aims to sell a million electric vehicles globally by 2025. Other auto makers are also making ambitious investments in electric cars.
The attorneys general wrote to the EPA's chief in April, after the agency approved Volkswagen's initial plans. Other auto makers sent letters to California environmental regulators expressing similar concerns.
The EPA had no immediate comment. The California Air Resources Board in late May wrote to Volkswagen asking it to address competition concerns, plans to install charging stations in poorer communities and the potential for fuel depots servicing hydrogen fuel-cell vehicles. Some auto makers seized on Volkswagen's lack of plans for that technology.
A Ford executive focused on Volkswagen's plan to install 50 ultra-fast charging stations in highway corridors and raised concerns that the German auto maker could design them without regard to other car companies' needs while also having access to competitors' customer data.
"Given the importance of this portion of the infrastructure to [battery-electric vehicle] adoption, Ford has reservations about having a key electrification driver dependent on and ultimately controlled by one automotive competitor," wrote John Viera, the Dearborn, Mich., auto maker's global director of sustainability and vehicle environmental matters, in a letter to California regulators.
Rather than a punishment or government-endorsed competitive foothold, Volkswagen views the investment as a good-faith showing after agreeing to pay billions of dollars to owners, dealers and regulators.
"There is a lot of investment that needs to happen. We're just part of it," said Mark McNabb, chief executive of Electrify America LLC, the German auto maker's subsidiary undertaking the investment plan, in an interview.
Volkswagen's stations ultimately will address less than 10% of charging needs, Mr. McNabb said. "I don't think we're a dominant part of the equation."
Tesla Inc. currently has an extensive charging network, featuring 861 stations with 5,655 speedy chargers for drivers of its expensive electric vehicles. Tesla has chargers around the world and in most U.S. states. Volkswagen's success with its chargers isn't guaranteed in an era of cheap gasoline that lowers demand for electric cars, though forecasters expect their popularity to rise.
In the U.S., electric vehicles are expected to eventually make up 6% of overall car sales over the next two decades or so, up from less than 1% currently, according to the Energy Information Administration. By 2025, sales of battery-powered electric vehicles, plug-in hybrids and hydrogen fuel-cell cars together will reach 1.5 million, or about 9% of U.S. sales, the agency projects.
Volkswagen plans to reap revenue from drivers and other auto makers. Motorists are expected to be able to swipe credit cards at charging stations to refuel, or purchase time-limited subscriptions to Electrify America's network. Some auto makers could also pay Electrify America a fixed rate for each vehicle it sells and then offer its customers free charging on the burgeoning network. The exact prices aren't yet clear, but will be based on the type of charger, kilowatt rates and market conditions, a company spokeswoman said.
The company's push comes on the heels of its diesel-emissions cheating crisis. Volkswagen pleaded guilty to criminal charges and agreed to legal settlements and penalties that could exceed $25 billion depending on how many vehicles the company repurchases.
"We continue to be concerned that Volkswagen will be allowed to benefit from a settlement intended to penalize for defrauding consumers," said a spokeswoman for Arizona Attorney General Mark Brnovich, a Republican, adding the office expects the EPA to "diligently monitor" Volkswagen's program.
A spokeswoman for Rhode Island Attorney General Peter Kilmartin, a Democrat, said that "concerns remain that [Volkswagen] will gain an advantage in the industry despite the company's past malfeasance."
Messrs. Brnovich and Kilmartin were the lead signatories on the letter to the EPA, which also included attorneys general from Connecticut, Iowa, Nevada, Texas and Wisconsin.
Volkswagen has discussed concerns with other auto makers, Mr. McNabb said. The company is working to "future-proof" its planned charging stations so they remain relevant for years, in part by fitting them mostly with standard plugs that most car companies are using when developing their own electric vehicles, he said.
State attorneys general, however, argue Volkswagen's proposal could allow it to distort and possibly corner parts of the market for zero-emission vehicles. Some represent states that are home to large factories for other auto makers that compete with Volkswagen. Auto makers are also concerned Volkswagen's proposal installs charging stations where there are already lots of electric vehicles.
Write to Mike Spector at firstname.lastname@example.org
(END) Dow Jones Newswires
June 06, 2017 05:44 ET (09:44 GMT)


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TCL It just announced two new tablets as part of the Consumer Electronics Show (CES) 2021. As most of you now know, CES 2021 is only available online this time due to the global pandemic.
So, we haven’t really had the opportunity to see these devices in person, but TCL has sent all the information. The company announced TCL NXTPAPER and TCL TAB 10s.
The company says these tablets are “designed to support the educational and entertainment needs of professionals and students remotely.” TCL NXTPAPER is actually the first commercially available tablet to use TCL’s new NXTPAPER display technology.
On the flip side, the TCL TAB 10s comes with a really big screen and a stylus too, unlike its sibling. So, they offer different things, different ways of using a tablet.
Let’s focus on TCL NXTPAPER first so shall we. The NXTPAPER display provides this device with advanced eye protection, says TCL. It comes with an 8.88 inch FullHD NXTPAPER (1440 x 1080) display, which provides a paper-like visual experience without flickering or harmful blue light.
The device is equipped with an octa-core processor, and it comes with a 5,500mAh battery inside. The company claims that this battery is more than enough for more than 24 hours of use.
A 5MP front camera is included, as well as an 8MP rear camera. Parental controls are preinstalled on the device, and the device is also compatible with Google Assistant.
Android 10 comes pre-installed on the device, while a 3.5mm headphone jack is included in the package. The device is equipped with two speakers and microphones. It comes with 4GB RAM and 64GB storage.
The tablet offers WiFi and 4G connectivity, and will soon be available in Europe, the Middle East / Africa, Latin America and Asia Pacific. It will be priced at 349 euros.
10 TCL tablets
TCL TAB 10s is closer to your regular tablet. This device comes with a 10.1-inch screen with a resolution of 2000 x 1920) and is powered by an octa-core SoC. The device includes a battery with a capacity of 8000 mAh inside, and can provide up to eight hours of video playback, and up to two weeks of battery in standby mode.
It comes with POGO pin connectors to support third-party accessories, and a T-Pen included. This device also provides smart eye protection, but it’s not as standard as NXTPAPER.
Android 10 comes preinstalled on this device as well, while 3GB and 4GB will both be available. It comes in 32GB and 64GB storage capacity respectively.
The TCL TAB 10s will be available in the European Union, North America, the Middle East / Africa, China, Asia Pacific and Latin America from March 2021. The WiFi version of the tablet will be 199 euros, while the 4G LTE + WiFi version will cost the model 249 euros.


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Originally printed in the January 2021 issue of Produce Business.
Over the course of the year, we pay tribute to 35 living Vanguards and 12 departed heroes. This month’s featured Vanguards are Barney McClure and Bruce Taylor.
McClure and Tjerandsen
Protein and produce are two products for which the late ad and marketing man Barney McClure is famous. On the first, as one of the mover-shaker members of the Fresno, CA-based Inventors Club in the 1960s, McClure came up with the pop-up timer for roasting turkeys. Like many of his fellow Club members, McClure at the time coordinated advertising for the California Turkey Advisory Board. On the second, and what has proven much larger of an industry landmark, is McClure’s work with domestic produce commodity boards and, most importantly, establishing the first counter-season promotion of Chilean fruits.
“He had an inquisitive and inventive mind,” says Tom Tjerandsen, who with McClure partnered to form San Francisco-based McClure and Tjerandsen in 1991, albeit the two had by then known each other for well over a decade. “One of Barney’s biggest industry achievements was providing promotion for fresh produce, and helping to answer the question of who was going to pay for it – the Grower? Distributor? Retailer? The other was working to establish many of the first marketing programs for Chilean fruit exported to North America.”
McClure, who died in Atherton, California in 1996, was born in Atlanta. He was only six weeks old when his family moved to California’s Bay Area where his great-grandfather had planted a peach orchard in the state’s foothills back in the 1800s, and his grandfather started selling peaches at age 10. Like many of his generation, McClure took a different path. He graduated from Stanford University in 1942, was commissioned as a first lieutenant in the Army Air Corps flying B24s during World War II and spent a year as a prisoner of war in Germany’s Stalag Luft III. An attack with mustard gas while in the POW camp damaged his lungs. This health blow would have dampened the determination of most men, but not McClure. He returned to the Bay area and embarked on a career promoting fresh produce.
“Conventional wisdom back then was for growers to grow the product and then forget about it,” says Tjerandsen. “In the 1950s, there was quite a bit of competition for fresh by processed and frozen products, and therefore fresh produce languished. Radio was the main advertising medium then. I think the first time was in the 1950s when he and Western Research Kitchens, which was also working on the California Peach Advisory Board account, did radio tags in the Los Angeles and San Francisco markets during peak shipping periods. Tagged radio has been a part of produce commodity promotions ever since.”
The late 50s and into the 60s and 70s saw marketing orders hit a heyday for several commodity crops. During these decades, McClure worked with the Idaho Potato Commission, The Potato Board, the Washington Apple Commission, the California Table Grape Commission and the California Strawberry Advisory Board, to name a few.
“I worked with Barney back when I was at Safeway,” says Don Harris, of Harris Consulting Solutions, who in the 1980s held a series of leadership positions including director of corporate produce merchandising and marketing for the Pleasanton, CA-headquartered retailer. “He’d come in with the biggest, newest promotion for whichever commodity board he worked for. He wouldn’t take no for an answer, and I mean that in a good way. That’s because he did his homework. It wasn’t about simply doing something, but why we should do it. He analyzed the risks and rewards. His goal was to increase overall consumption.”
One of these potential risks, unheard of at the time, says Harris, was McClure’s encouraging of Safeway to promote Chilean fruit. The Chilean Fruit Exporters Association (ASOEX) had approached McClure for his company’s help to find out what produce would sell best in North American markets and then coming up with a way to introduce this fruit. He first started with table grapes during the 1980-81 season and with a marketing budget of $110,000. Today, ASOEX, through the Chilean Fresh Fruit Association, operates a multi-million dollar promotional program that covers Chilean stone fruit, berries, kiwifruit, cherries, apples and pears. Yet McClure is the one who took the first step in turning the concept of summer fruit in winter from a novelty to the norm.
David Holzworth worked with McClure when he became General Counsel to ASOEX in 1985. “A gentleman and a Scotsman, Barney McClure came to my attention in the early days in the development of the Chilean Winter Fruit campaign,” says Holzworth, who today is senior counsel for Holzworth & Kato, PC, in Washington, DC. “He worked tirelessly to make a very small promotional budget move a lot more fruit into the US. Barney also had an uncanny feel for the room and strongly identified with the work ethic of the Chilean industry.”
Perhaps the most serious obstacle overcome was the shutdown of the farm-to-fork chain resulting from a terrorist claim that table grapes from Chile were laced with cyanide. “Many so-called friends of Chile took flight. Not Barney,” says one period after Holzworth. “He stayed the course even though the funding basis of the promotional campaign depended on payments from consignment sales. And he went one step further: He became an integral part of the crisis management group and a steady voice in a time of panic. He was a man of his word.”
McClure ultimately spent 50 years in the advertising and produce marketing field, handling clients in five continents and 12 states. In addition to Chile, he also established the first promotion of New Zealand produce and developed the first trade program for both the New Zealand and California kiwi fruit industries. McClure also served as director of the Produce Marketing Association from 1977 to 1980. While today, pop-up timers still protrude from poultry when fully cooked, it will be McClure’s promotion of fresh produce, especially counter-seasonal products, that he will be most remembered as an industry Vanguard.
Bruce Taylor didn’t intend to enter the produce industry, never mind be on the forefront of change that has driven what had been a commodity business to one increasingly capable of meeting specific consumer needs.
That’s just how it turned out.
Over the years, Taylor has combined what his family learned about the challenges of the produce industry and the course of his own career to establish a philosophy that incorporates striving, building, occasionally stumbling, learning and advancing while always keeping in mind that the produce industry is a community of common interests, best served by working together.
When he was starting out, Taylor’s family already was established in the produce business after his grandfather started a lettuce operation and his uncle and father built it further. But he got hooked after doing a summer job, then taking the opportunity to work in Italy, where he applied carbon dioxide to peaches being shopped to Marks & Spencer in the United Kingdom. The idea didn’t work out so well, but the experience set him on his career path in the produce business and as an innovator in his eventually chosen field.
With the goal toward finding innovation, particularly as a way to differentiate product offered, the stage was set for the development of what became Fresh Express.
The idea to add value to produce by using technology, in this case by adding breathable films to deliver a fresher product, started in the restaurant business and eventually translated into the Fresh Express enterprise after a series of innovations, improvements and modifications. By the late 1980s, Taylor says Fresh Express was dealing not only with the challenges of getting fresh prepared salad to stores but getting the product through to the consumer. That meant working with retailers on new fixturing that could maintain constant temperatures in open cases and so ensure freshness and ultimately consumer approval.
Even as it was providing a new way for consumers to enjoy salad, Fresh Express was helping change the model of how growers operated particularly in California, Taylor notes. Fresh Express brought a fixed-price approach to the Salinas Valley. “Salinas was all free-market growers,” says Taylor. “They never knew what returns would be. With the value-added business, we knew what the finished product price would be. We worked with the restaurants that wanted a fixed cost. So we would guarantee growers a market. It really stabilized the economics of the Salinas Valley. Growers could devote a certain amount of a crop to something they knew they could make money on and decide what to risk.”
The Fresh Express phase of Taylor’s career ended with a difference of opinion about the sale of the business. At that point, Taylor pondered the next phase of his professional life and began to take the measure of the possibilities before him.
“When I started over again, everyone said no one needed another packaged salad company,” he said. “I thought the opposite. A group of friends helped fund me, and that was gratifying. I was thinking about what I can do best, and these folks came to my rescue.”
Although it was also an element of the Fresh Express success, a key driving factor in the establishment of Taylor Farms was its customer-centric approach, Taylor says. From its start in 1995, the company actively reviewed and appraised what was in the marketplace and looked for gaps where need couldn’t connect with available product. As a consequence, Taylor built his new business by exploring avenues others didn’t want to tread, such as one to a plant in Florida nobody wanted, but his new enterprise rehabilitated.
Indeed, he started out initially identifying a couple of facilities he could use to serve the foodservice industry. As it turned out, Taylor Farms kept on picking up businesses so that now it has 17 plants in the United States.
Taylor also says he has been willing to change ownership structure strategically during the course of Taylor Farm’s evolution as a way of growing the company and bringing in new resources. Growth has been such that Taylor Fresh Foods/Taylor Farms is the largest fresh vegetable company in the world with annual revenue over $4.5 billion, he claims.
When considering his opportunities and contribution in, and to, the produce industry, technology is one of the key elements Taylor cites as applied to producing a fresh and convenient ready-to-eat product. However, it isn’t just the success of the product in and of itself that gives him satisfaction. Rather, Taylor says the introduction and acceptance of packaged produce was a help to his own enterprises, restaurants, and food retailers, but also to the produce industry in a broader sense. “Produce consumption increased,” he says, “and consumer demand for convenient, ready-to-eat salads increased. We helped build a more stable industry.”
The other major area where Taylor has played a leading role is food safety, particularly in his work launching SmartWash Solutions and as co-founder of the Center for Produce Safety. He says the work to ensure the safety of the products the produce industry offers, in all their various forms, is critical. “The produce has to be not only fresh and flavorful, but also has to be as safe as possible both for the sake of the industry and for the consumer. That’s what lets me sleep at night,” he said.
Another Vanguard, Bryan Silbermann, formerly of PMA, cited Taylor as instrumental in the initial funding of the Center for Produce Safety. “Bruce is a great strategic thinker,” he says. When a salmonella outbreak was linked to tomatoes, Silbermann noted, Taylor participated in a meeting of the PMA board where a discussion of the need for an industry-wide traceability initiative began. The participants agreed that the organization needed a senior retail leader. According to Silbermann, Taylor insisted that PMA and the United Fresh Produce Association reach out to a senior retail leader, more senior than a vice president of produce, who had organization-wide authority.
As a result, the first chair of the Produce Traceability Initiative leadership council was Cathy Green Burns, now PMA CEO, who at the time was Food Lion senior vice president of fresh merchandising and distribution, and later president of the banner.
Among other contributions, Silbermann also pointed to Taylor’s willingness to twice take a seat on the PMA board, once as chairman, as evidence of his dedication to the produce industry and the environs in which it works. Taylor also has been deeply involved with the Western Growers Association as a member of the board, including the 2021/2022 board, and as chairman.
In addition, Silbermann noted Taylor’s dedication to the city of Salinas, including his moving the company headquarters to the downtown area to help with its revitalization.
So, Bruce Taylor has been, throughout his career, a deeply involved member of a produce community that he has helped advance such that, today, it provides consumers more options and, so, more reasons to purchase fruits and vegetables, businesses, all the while boosting the produce industry’s prospects for the future.


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Conservatism is pervasive mindset among U.S. CPG shoppers, as nearly one in four are having difficulty affording groceries, finds SymphonyIRI; eating at home, extending product life, clipping coupons, online price research among behaviors on the rise
November 15, 2011
– The ongoing economic downturn has spawned a new breed of consumer, downturn shoppers, who are continuing and extending their frugal practices, significantly impacting when, where and how they purchase consumer packaged goods. A new SymphonyIRI Times & Trends Special Report, “The Downturn Shopper: Buckled in for a Wild and Crazy Ride,” was released this week, highlighting these behaviors and offering recommendations to CPG and retailer decision makers.
This Times & Trends Special Report is based on results from SymphonyIRI’s third quarter MarketPulse™ survey, an ongoing survey series commissioned to monitor shoppers’ perceptions around the evolving economy, and the impact that the economy is having on personal financial conditions, lifestyle and shopping behaviors, and money-saving strategies. This quarter’s MarketPulse revealed that a majority of shoppers remain pessimistic about their personal finances and that, as this pessimism continues, they are increasingly expanding money-saving practices, such as eating at home, extending the life of personal care products, utilizing a cleaning product for multiple tasks, clipping and downloading coupons, and using the Internet to find the best deals.
“In this prolonged down economy, nearly one in four consumers find it difficult to afford their weekly groceries,” said Susan Viamari, editor of Times & Trends, SymphonyIRI. “As a result, many consumers are adjusting their food and beverage-related behaviors in an effort to save money. Through the MarketPulse survey, many consumers are telling a story of optimism that has faded and been replaced with expectations that the economy will remain stagnant or weaken further. In reaction to this lack of confidence, a theme of ‘conservatism’ is prevalent across markets, channels, categories and consumer segments.”
Home Is Where the Savings Is
Consistent with MarketPulse findings from the second quarter of this year, more than half of consumers surveyed dialed back the frequency of eating out in an effort to conserve. A similar number is creating and serving more “simple” and less expensive meals at home. Other household rituals they are observing include:
42 percent of consumers are bringing snacks/food from home to school or work to save money
36 percent of consumers are going to the doctor less and self-treating more to save money
35 percent are turning more frequently to at-home beauty treatments in lieu of spa treatments
“For CPG marketers, there is a bright side to this downturn economy,” continued Viamari. “Many of the rituals consumers are embracing as they seek to manage their budgets involve packaged goods solutions. But, shoppers are selecting and using these solutions in a very cost-conscious manner. Marketers must understand and deliver against the conservative mindset behind this approach to daily living in order to fully capitalize on opportunities spawned from consumers’ ongoing budgetary concerns.”
Shoppers are also approaching grocery shopping in a very measured manner, as they feel the need to budget and spend prudently. To that end, many shoppers are making CPG decisions at home, even before they head into stores.
More than two-thirds of shoppers enter the stores with ready-made lists
A substantial and growing number of shoppers are combing circulars and coupons to find the best deals
When in stores, two-thirds have cut back on “non-essential” grocery purchases
Consumers Click for Savings
The Internet is rapidly becoming an integral component of the downturn shopper’s money saving strategies. MarketPulse points to a steady rise in shoppers using the Internet to research products, download recipes and gather coupons.
26 percent of consumers research products on Web sites, an increase of two points from the previous quarter
39 percent of shoppers download recipes off Web sites and other online sources, versus 36 percent in the second quarter
37 percent of consumers download coupons from manufacturer Web sites, as compared to 35 percent in the previous quarter
“Retailers and manufacturers seeking to succeed and remain profitable in today’s challenging retail environment must consider implementing aggressive product and shopper marketing initiatives,” said John McIndoe, senior vice president of marketing, SymphonyIRI. “Most importantly, these initiatives must demonstrate value, not necessarily just based on price and convenience, but also on delivering relevance. To do so, CPG marketers must begin with a holistic shopper analysis, founded on an integrated analysis of frequent purchase data plus demographics, life stages, needs, usage and more.”
SymphonyIRI Times & Trends Webinar
SymphonyIRI is offering a free webinar, entitled “The Downturn Shopper: Buckled in for a Wild and Crazy Ride,” at 11:30 a.m. CT on Nov. 17, 2011. To register for the webinar, hosted by Susan Viamari, editor of Times & Trends, please visit: http://www.symphonyiri.com/NewsEvents/EventsWebinars/TheDownturnShopper/tabid/281/Default.aspx.
About the Report
This month’s Times & Trends Special Report, “The Downturn Shopper: Buckled in for a Wild and Crazy Ride,” is a free report available from SymphonyIRI, the world’s leading innovation partner that enables CPG, retail and healthcare companies to create and maximize new opportunities. SymphonyIRI based this month’s report its quarterly MarketPulse Survey, a nationally representative survey of 2,000 shoppers conducted in the third quarter of 2011. To download the report, visit: http://www.symphonyiri.com/Insights/ArticleDetail/tabid/117/ItemID/1372/View/Details/Default.aspx.
About SymphonyIRI Group, Inc.
SymphonyIRI Group, Inc., formerly named Information Resources, Inc. (“IRI”), is the global leader in innovative solutions and services for driving revenue and profit growth in CPG, retail and healthcare companies. SymphonyIRI offers two families of solutions: Core IRI solutions for market measurement and Symphony Advantage solutions for enabling new growth opportunities in marketing, sales, shopper marketing and category management. SymphonyIRI solutions uniquely combine content, analytics and technology to deliver maximum impact. SymphonyIRI helps companies create, plan and execute forward-looking, shopper-centric strategies across every level of the organization. For more information, visit http://www.SymphonyIRI.com.


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JAMES BARTON 25 SEPTEMBER 2020
Slovakia’s government has stated that it plans to commence its delayed 5G spectrum auction before the end of 2020.
Ivan Martak, chairman of regulator RU (Regulacny urad – Office for Regulation of Electronic Communications & Postal Services), was quoted in local news outlet Zive.sk as saying: “The priority is to complete the 5G auction. We have suspended it since 18 June, which was three months ago. We have millions of euros deposited [from interested parties] as a financial security. We definitely want to have it ready by the end of the year.”


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While Samsung Electronics reported a steep drop in net earnings due to lower sales in its memory-chip business in the first quarter, its CE and cellphone businesses performed well.
Samsung reported net income of $461.7 million, down 72 percent from last year’s first quarter. Sales were $13.8 billion, up 9 percent compared with last year.
In its digital media area, the company reported sales growth of 31 percent from the prior year’s first quarter. Operating profit was up in triple digits compared with the prior year.
Samsung’s flat-panel TV shipments rose 20 percent in the quarter vs. the same time last year, with LED TVs leading the way. The company expects increased LED and LCD TV sales in its line to grow in the second quarter.
Its LCD panel, sales were down 14 percent compared with the prior year’s first quarter, and the company reported a $230 million loss in the quarter vs. the prior year’s $752.2 million profit.
LCD panel shipments were down to 85 million units, from 109 million units in the prior year’s first quarter. Samsung said it expects increased demand in the second quarter, but warns about pricing pressure if TV sales are weak for the industry.
For Samsung’s wireless business, sales were up 32 percent from the prior year’s fourth quarter, and profits were up 2 percent vs. the prior year. Handset shipments were down 1 percent.
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