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Foodbanking in Australia celebrates its 25th anniversary aided by a little assistance from the transport industry.
Starting in NSW in 1992, and now a National Federation in all states, Foodbank grew to become involved with the provision of food to those in need. Today the organisation has grown to become independently capable of consistently supplying food to charities that in turn provide the end of chain support to Welfare Agencies who directly supply individuals in need.
In December 2015, His Excellency General The Honourable David Hurley AC, DSC (Ret’d), Governor of NSW and Patron of Foodbank NSW and ACT Limited(FBNA), officially opened a new warehousing facility for the organisation, which now forms the centre of the operation at Glendenning in Western Sydney.
Providing 7240 square metres of storage and warehousing space, with a 1000-pallet chiller refrigeration section, this purpose-built, brand-new facility grew as a result of funds donated by the NSW & ACT Government and the private sector to the organisation.
As testimony to the success of all state Foodbanks, the organisation in 2016 provided the necessary food chain to supply the components to create the equivalent of 60 million meals, distributed nationally through the 2500 charities that it supplies. For the FBNA operation, 50 percent of the recipients are in the Sydney metro area, 40 percent in NSW rural areas and the final 10 percent being in the ACT.
It is a sad indictment of a nation that prides itself on its ever-increasing sophistication and global importance that poverty continues to grow, irrespective of geographical location. The Foodbank Hunger Survey shows that 1 in 10 Australians need help sometime during the year and this covers low-income workers, the unemployed, the elderly and single-parent families are all given a helping hand, and, more importantly, food for their daily survival.
An increasing area of support is now provided nationally to many schools, where young children receive a basic breakfast every morning, ensuring they start the day well fed and ready to learn, when their own home situation does not cater for their needs.
The FBNA operation is almost epic by comparison with public expectation of the size of a charity that supplies food to those in need. In 2016, FBNA supplied 8000 tonnes of food supplies to registered charities, and this volume is expected to increase to 16,000 tonnes within the coming three to four-year period.
The food and supplies that flow into the Glendenning DC come from industry itself, including Food and Grocery Council members and retailers Coles, Woolworths, ALDI and IGA. These supermarkets, food wholesalers, farming operations and food manufacturers supply end-of-line products, those in over supply and vegetables that are surplus to general retail requirements, direct to FBNA. These are then packaged and distributed by an extensive volunteer workforce using a truck fleet that was made possible by the generosity of companies involved in the Australian transport industry.
The design of the warehouse illustrates the intention of FBNA to be environmentally aware of its sustainability. The warehouse contains all the latest technology “smarts”, with low-voltage LED lighting powered completely through the day by solar panels. This points towards total control over the minimising of operating costs and illustrates the design capacity to cater for the estimated growth over the next 20 years. Completion of the warehouse facility was achieved without a resultant debt, with all funds raised by the organisation.
Gerry Andersen, CEO of FBNA, explained that transport costs of around $800,000 each year were met by donations and funding, also made possible by the involvement of members of the transport industry. The pride of the fleet consists of a Kenworth T409 8×4, which more recently was joined by a DAF CF85.460 8×4. Supplied through local Kenworth and DAF dealership, Gilbert & Roach of Huntingwood, the project to supply the initial T359 came about by a chance discussion between FBNA and the executive teams of engine manufacturer Cummins, together with PACCAR Australia.
“The executive team of Cummins came on a company visit to learn about the FBNA network and subsequently offered their company’s assistance in starting off the project to supply a new truck,” said CEO Gerry Andersen. “The project started gaining speed with further companies coming on board to join Cummins and Kenworth. These included DANA, Bridgestone, Alcoa, Vawdrey Trailers, PPG, Eaton, Rae-Line, DHollandia and Truck Moves. Additional supportive funding was supplied by the NSW Government and the NSW Environment Trust,” added Mr. Andersen.
Resplendent in its purple livery, the Kenworth T359 8×4 is powered by a Cummins ISLe5 engine available in a variety of power outputs ranging from 280 to 380 hp and with peak torque rating from 778 to 1254 lb-ft (1054-1700 Nm). The driveline is completed by either manual or automated manual transmissions manufactured by Eaton Vehicle Group.
In recent months the T359 has been joined in the fleet by a DAF CF85 460 8×4, which also features the same purple paint colour from supplier PPG. Powered by a 460 hp 13-litre, PACCAR MX 340 engine, it produces 460 hp at 1500-1900rpm with peak torque of 1700 lb-ft (2300 Nm) rated at 1000-1410 rpm.
Both these new additions to the FBNA fleet carry the flag for the organisation while also indicating through the signage on the vehicles the involvement and support provided by member companies of the transport industry. It is a pertinent comment on our current society that while banking institutions talk of profit in billions of dollars, for many people living in Australia food has become a discretionary spend. After paying rent, electricity and transport, many low income families have very little left for food or clothing each month.
One “emergency bill” for health, car repair, sickness or loss of job often results in a family going hungry. PowerTorque commends the companies that are currently supporting the Foodbank initiative. If your company is keen to sponsor the association, further details are available at www.foodbanknsw.org.au or contact Gerry Andersen at: firstname.lastname@example.org
Courtesy of PowerTorque Issue 76
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“We expect that our plant in Bangladesh will go on operation between February and March,” Vikram S Kasbekar, head of operations and supply chain of the Hero MotoCorp Ltd, told a group of visiting Bangladeshi journalists in its factory at Hariyana’s Gurgaon.
He said the construction work of the factory in Jessore is going on in full swing now.
The Indian motorbike manufacturer in partnership with Nitol-Niloy Group is setting up the plant on a 12.35 acre land at Noapara of Jessore with the target to produce about 150 motorcycles a day.
He said: “Bangladesh has an annual market of half a million motorcycles. We will later expand the production to 250 motorcycles per day.”
Initially Hero is investing some $29m in its second overseas factory. Its first plant which is in Colombia, went in operation in 2015, Kasbekar said.
Noting that Hero motorcycles are being exported to 32 countries, he said it had secured the position of the largest two-wheeler manufacturer in the world by selling around 6.64 million motorcycles last year.
Besides, the company has 52.4% share in the domestic motorcycle market.
In the mid-1980s, its annual production was only one million but now it is producing about 67 million for the last three decades.
More than 7,000 motorcycles can be manufactured in the Gurgaon factory in a single day.

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Kaieteur News: "Barbados police yesterday released a sketch of one of the men suspected of hurling ‘channa-bombs’ into the Campus Trendz Boutique in Tudor Street on Friday and causing an inferno that claimed the lives of six women, including a Guyanese.
The incendiary devices were thrown into the building around 19:00hrs after the suspects had allegedly carried out a brazen robbery there.
The dead include 19-year-old store employees Amanda Pearl Cornelius (a Guyanese), 24-year-old Vincentian Kellisha Olliviere, and 18-year-old Barbadian Shanna Griffith. The other victims, Kelly-Ann Welch (24), Tiffany Harding (23) and Nikita Belgrave (23) were shopping for clothes to go out later that night.
The Guyanese store-owner , Yasmin Ali, known as Shameez, was chopped and sustained burns during the attack. She has since been released from hospital."


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In an update for the 13 weeks to January 2, 2021, the publican said trading had been “materially disrupted” by coronavirus (COVID-19) related restrictions across England, Scotland and Wales, with revenues for the period standing at £54mln.
Despite the disruption, Marston’s said it is continuing to develop the business, with its joint venture (JV) with beer maker Carlsberg UK completing on October 30, 2020, from which the firm received £233mln which was used to cut down debts. The firm also said the profit on disposal of Marston’s Beer Company into the JV is expected to be around £280mln and the spot value of the contingent payment to be received in October 2021 is around £20mln.
Looking ahead, the company said it expects customer demand to be “strong” when restrictions are finally lifted and that its pub estate will be “well-positioned” due to its predominant presence in suburban locations. It added that its recent deal to operate 156 pubs in Wales owned by brewer SA Brain demonstrated the firm’s “confidence in the medium-term outlook for the UK pub sector”.
The company also highlighted that despite the ongoing disruption to trading it had “significant liquidity” following completion of the JV and, as such, it remained confident in its ability to navigate the challenging environment.
“The pub sector has been closed for much of the last nine months and remains in a very difficult position. Regrettably there have been casualties across the sector and It is vital that the Government reviews urgently the opportunity to continue to support pubs as we reopen the economy in the coming weeks. Pubs are viable businesses which are part of the social fabric of Britain and which make a major contribution to the economy and the communities in which they serve. It is vital that they not only survive the short-term crisis but are supported in order to recover and flourish. Extending the business rates holiday and VAT cut for the rest of this year is a minimum requirement”, Marston’s chief executive Ralph Findlay said in a statement.
“Despite these challenges, Marston’s has a significantly strengthened balance sheet following the creation of the joint venture with Carlsberg and the financial headroom to weather the extended period of current trading restrictions. With the rollout of the vaccine programme now underway nationwide, we remain well-positioned to rebuild trading momentum once restrictions are lifted, as well as to leverage potential market opportunities open to us.
“We have a clear strategy in place which leaves us confident for the future of our business over the medium term”, he added.
Marston’s shares were down 1.1% at 73.7p in early deals on Friday.


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SAN DIEGO, March 5, 2007 – Sempra Energy (NYSE: SRE), an energy services holding company, has earned a No. 4 ranking among electric and gas utilities on Fortune magazine’s 2007 “Most Admired Companies” list, published today. It is the first time the eight-year-old company has achieved a top industry ranking in the magazine’s prestigious annual report card on corporate reputations.
“We are honored to be recognized by Fortune as one of the most admired U.S. companies by our peers and industry analysts,” said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy. “We recognize that building and maintaining a respected corporate reputation is a constantly evolving effort and that’s why it is one of our key objectives as we continue to grow as a company.”
To construct its 2007 list, Fortune partnered with Hay Group on a survey of executives, directors and securities analysts in 63 different industries. The survey respondents were asked to rank the top 10 companies of the Fortune 1,000 in each industry segment based on eight criteria: long-term investment value; social responsibility; quality of management; financial soundness; innovation; people management; quality of products and services; and use of corporate assets. Only those companies that scored the best in these criteria made the “Most Admired” list for their industry, according to the magazine.
From 1998 through 2006, Sempra Energy has produced an average annual total return to investors of approximately 15 percent, including 28 percent last year. The company also has been widely recognized for its efforts to develop a diverse workforce and network of suppliers. For seven consecutive years, Sempra Energy ranked among the top five of Fortune’s “America’s Best Companies for Minorities.”
Fortune’s “Most Admired Companies” is available online at http://money.cnn.com/magazines/fortune/mostadmired/2007/index.html.
Sempra Energy (NYSE: SRE), based in San Diego, is a Fortune 500 energy services holding company with 2006 revenues of nearly $12 billion. The Sempra Energy companies’ 14,000 employees serve more than 29 million consumers in the United States, Europe, Canada, Mexico, South America and Asia.


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E-cigarette manufacturer Juul Labs Inc. will pay $10 million to settle a lawsuit the Louisiana Attorney General’s Office filed In an attempt to limit the company's reach to minors.
Juul said it has settled similar cases in Washington state — agreeing to pay $22.5 million there — as well as Arizona and North Carolina.
In the Louisiana case, Attorney General Jeff Landry had charged Juul with manufacturing e-cigarettes that intentionally exploited younger markets.
A 76-page filing in November says Juul used tactics akin to tobacco companies years ago — before the full health effects of traditional cigarettes were known — that included designing sleek, concealable devices that featured “fun flavors like mango and cool mint” and were promoted with slick ad campaigns.
Landry also accused Juul of “deceptive marketing practices” regarding the device’s concentrations of nicotine, a highly addictive chemical found in cigarettes. Juul bills itself as an alternative to traditional combustible cigarettes.
Landry’s office had sought to prevent Juul from selling the product to minors and wanted to limit available flavors to tobacco and menthol. Prosecutors also sought financial penalties from Juul.
A statement from a Juul spokesman acknowledged the settlements in Louisiana and elsewhere.
“This settlement is another step in our ongoing effort to reset our company and we applaud the Attorney General’s plan to deploy resources to combat underage use,” the Juul statement said. “We will continue working with federal and state stakeholders to secure a fully regulated, science-based marketplace for vapor products.”
In a motion to dismiss the suit filed April 4, the attorney general’s office references a written settlement agreement with Juul. The agreement wasn’t available in court records Thursday. The attorney general’s office did not respond to a request for comment or a copy of the settlement.
However, a Juul spokesman said the agreement was a monetary settlement only with no stipulations.
In Washington, Juul signed a consent agreement that, in addition to financial penalties, will require the company to frequently check retailers to prevent sales to underage consumers and refrain from advertising on social media or other avenues geared toward minors.
Starting in 2019, Juul began shifting its corporate strategies after it brought on a new CEO. It suspended all of its broadcast, print and digital advertising in the U.S., and stopped selling non-tobacco and non-menthol flavors that same year.


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Call of Duty publisher Activision suffer active player count drop in 2023
An Activision Blizzard earnings report has revealed that the Call of Duty publisher’s player count suffered a drop in the millions. What’s more, the reported drop in active players occurred over just a few months at the start of 2023.
It has been a tumultuous past couple of years for video game behemoth Activision, as Microsoft’s acquisition continues to pose problems for all parties involved. The most recent roadblock arrived on April 26, as the UK government announced its decision to block the deal.
Luckily, their game endeavors have been less rocky, with the launch of Modern Warfare 2 considered a major hit. The title set a new record for the fastest-selling game in the CoD franchise.
Thanks to Modern Warfare 2’s launch, Activision’s Q4 of 2022 was a major success both economically and from a popularity standpoint. However, an earnings report has now revealed that Activision suffered a drop in active players from Q4 2022 to Q1 2023.
According to an official Activision earnings report, the active player count dropped from 111 million in Q4 of 2022 down to 98 million at the start of 2023 in Q1.
The start of the new year was not a pleasant one for Activision. While this reported Activision player count consists of more than just Call of Duty titles, it’s safe to expect that the dip is a result of the poor post-launch reaction to Modern Warfare 2.
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Although the excitement for Modern Warfare 2 and Warzone 2 was sky-high prior to launch, players feel as though the devs failed to deliver sufficient content and desired gameplay fixes to keep them engaged heading into 2023.
While the Activision active player count drop is fascinating, Blizzard’s loss in active players has it beaten in terms of scale. Blizzard experienced a player count drop from 45 million to 27 million, which equates to a loss of 40%.
Given that Overwatch 2‘s popularity quickly fizzled after launch, these numbers are to be expected. Perhaps Diablo 4 will manage to get the active player count back up following its June 2023 release.
For more, check out how Microsoft claimed that the Nintendo Switch can run Warzone & new CoD games “without issue”, or how Modern Warfare 2 players were left fuming after a shock CoD 2023 report.
Image Credit: Activision


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The Emporio Armani fall’21 presentation took place at Milan, Italy Via Borgonuovo and was digitally presented. It features 80’s looks, yes fall hues like black, dark olives and greys e.t.c. were in the collection but the pop of colours like navy blue, hot pink, and violet makes us look forward to fall again. The collection.
Kim Jones is known for is artistic work as a menswear designer who made his debut with Dior’s Menswear, has now been appointed as the creative director of Fendi’s haute couture collection. Kim Jones debuted Fendi first womenswear couture collection that paid tribute to the bloomsbury set (or Bloombury Group – was a group of.
While we can’t get our Itallian getaway due to the global pandemic, we can atleast channel the inner Italian in us with a heap plate of pasta. Yes, our dinner serves 4 with less than £10 and is “Pasta alla Norma with Eggplant, Basil & Pecorino”. This dish is made with tomatoes, basil, eggplant, and.
As we are in the final weeks of winter season, we should also prepare our wardrobe to transitional pieces that can easily be converted to an outerwear. An outerwear that will keep us warm and not too heavy since the spring season is always in between cold and warm weather. This is where the Shacket.
This season, there have been many new beauty products that are worth the hype but no-one is talking about. These range from skincare, to makeups from brands like MAC, Beauty Pie etc. The reason why these products are worth the investment and deserve a space in your skincare vanity is the new formulas they contain.
A little hear and there goes a long way when it comes to beautifying yourself, that’s why these serums are great substitute to lash extensions. Lash extensions are great don’t get me wrong but it’s also important to take care of your natural eyelashes too. Many do go to the doctor to get Latisse to.
Khloe Kardashian slams back at a fan who on instagram responded to the final season of Keeping Up With The Kadashian reality TV series where in what seems like a reunion between Khloe and Tristan is looking possible when Tristan took the matter to Kim Kardashian talking about how frustrated Khloe gets with what’s going.
Silk pillow cases have been the new trending way to sleep nowadays, not only are they luxe, they also come with wellness benefits. Although when advised to sleep on a silk pillowcase it always sound like an old wives’ tale, it may sound like tales but there have been many claims that the benefits of.
Vestiaire Collective is an online platform that sells pre-owned designer labels, the brand retails clothing items for men and women, vintage items, bags, jewelries and watches, designer brands like Dior, Fendi, etc. As part of their new ‘Brand Approved Program’ which is only available in the U.K and France, Vestiaire Collective is partnering with Alexander.
A freezing snowy and extremely cold weather does not mean your cosy outerwear have to be limited to a boring tonal shade, not that there is anything wrong with that but sometimes wearing a colouful outerwear in the moody/miserable weather can help liven-up your mood. A stylish person will always know that a brightly coloured.


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Although Donald Trump announced last week that Huawei could continue to cooperate with US companies and Google would most likely allow Huawei to continue using Android and certifying its phones. However, Chinese companies continue to develop HongMeng OS.
This statement was stated by the founder and CEO – Nham Chinh Phi. In an interview from France's Le Point magazine, the 75-year-old executive said the internal operating system will work on network switches, routers, data centers, as well as electricity. smart phone It is quite similar to Google's Fuchsia operating system.
Nham Chinh Phi – CEO and founder of Huawei
Mr. Nham also claimed that HongMeng OS could be faster than Google's Android. Especially when running on a computer is even faster than MacOS. According to Nham, HongMeng OS has a processing delay of less than 5 milliseconds.
Of course this is not something new, Huawei has repeatedly stated that HongMeng OS is very fast and works on many different devices.
It should also be clarified, Huawei just said that its operating system is faster, not more stable, creating a more stable operating system than macOS is probably extremely difficult, even when Windows still remains one rank less. Let us see what Huawei will do with this new operating system.
Currently, to help readers understand the latest, hottest technology information, CellphoneS officially established fanpage "Sforum.vn technology news page”, Here information about attractive technology is always updated regularly and continuously.
Please like the page Sforum.vn Follow the following link: https://www.facebook.com/SforumTech.
Or visit the website Sforum.vn to instantly read extremely hot technology news.


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Kochi: In a couple of days, nearly 7000 doctors from across the country will converge in Kochi as the city is all set to host the PEDICON-2024, the prestigious annual conference organized by the Indian Academy of Pediatrics.
Another 3000 persons who are their family members and various medical companies’ representatives too will be arriving during the period.
Almost all hotel rooms in the district have been booked for the national meeting of paediatricians to be held at Hotel Grand Hyatt and Lulu Bolgatty Convention Centre from February 24 to 28. Around 3000 to 4000 hotel rooms are needed to accommodate all these doctors, for which a sum of over Rs 15 crore has to be spent. The bookings have spilled over from Kochi to neighbouring districts as well.
The spurt in conference tourism involving events like doctors’ national meets is set to create big waves in the trade, commerce, and tourism sectors of Kochi. Between 3000 to 4000 representatives are attending the all-India conferences of the Indian Psychiatric Society and All India Occupational Therapists Association which are currently on.
The organisers calculate that financial transactions amounting to Rs 100-150 crore will take place in connection with PEDICON. They alone will incur an expense of Rs 22-25 crore to hold the national event.
Airlines are getting Rs 14 crore by way of air tickets booked for experts from around the world participating in the event. The taxi cars in the city are almost fully booked. Through this, the private taxi operators too will be getting crores of rupees. GST revenue, worth crores, will also be flowing into the kitty of the State and Central Governments.
Small shops in the city, as well as auto drivers and shopping mall operators, among others, will benefit from the conduct of such events, said Dr Sachidananda Kamath, PEDICON-2024 organizing committee chairman.
Most of the delegates will visit tourist places, including Munnar, Fort Kochi, and Alappuzha. They will also visit places of worship. So, the gains made by the tourism sector will be enormous. The use of cars by delegates can lead to traffic snarls on certain occasions, which is the only disadvantage posed by such events, while the rest are gains.
However, the infrastructure facilities in Kochi and adjoining areas have to improve for the smooth conduct of such major events, according to the organisers. Big conference halls are needed to conduct huge meetings and exhibitions. Currently, huge temporary pandals are made to conduct several sessions and exhibitions. If huge halls that can accommodate vehicles and persons simultaneously are readied, Kochi and other cities in the State can pull off a coup in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector.


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Real estate developers are hopeful that the market for realty industry will bounce back in 2021 seeing the prospects of economic stability and favourable policy landscape. Going by their word, the Unlock phases, active govt support in form of its initiatives and the recently gone festive season have set the momentum for growth which they expect to continue into 2021 as well. The COVID-19 pandemic has taught us many lessons and the significant one is that you must have your own dwelling to survive unprecedented times.
Buying home is not at all difficult these days as many leading developers have come up with affordable housing options. If you are living in Gurgaon, M3M Projects Gurgaon offers you wide range of property options in Gurgaon. Today there are 15 M3M residential projects in Gurgaon. Some of the M3M residential projects in Gurgaon include M3M Sierra 68, M3M Natura sector 68, M3M St. Andrews,M3M Polo suites,M3M sky suites, M3M woodshire, M3M Merlin, M3M Escala, M3M Fairway west, M3M Golf estate and more.
As per Pankaj Bansal, M3M Director’s opinions, “We expect that 2021 will see consolidation of the industry in favour of organized developers, leveraging technology to enhance customer experiences and customer-centricity as the key objective of developers. In the commercial segment, the high-street concept has gained momentum as compared to malls and this will continue in the coming year. The residential segment is already on the path to recovery owing to the pent-up demand and the need to invest in well planned, spacious homes amidst extended work from home.”
Another realty giant, DLF Ltd. CMO, Mr Karan Kumar’s opinion is that “the demand for exclusive residential properties will likely continue well into 2021. Also, with home-loan rates being all-time low, the demand and inquiries have seen a steep jump, and we expect this to continue even in the next financial year. We see a number of NRIs either moving back to India or looking at investment options here. This will boost the demand for homes starting from mid-segment housing to luxury and super luxury homes,”
Amarjit Bakshi, Chairman & Managing Director, Central Park, voiced a similar sentiment, “Housing sales saw a sharp recovery in the seco.nd and third quarter in all top cities compared to the preceding quarter. With this, it is further expected that the sector will exhibit healthy growth in the future. There is an emerging trend of settling into townships due to the availability of a plethora of amenities available to the residents within the vicinity. Integrated urban areas with spaces that are multi-purpose for use will gain more momentum.”
Anuj Kumar Garg, Vice President Customer Engagement & Distribution, Viridian RED said, “The prospect of Indian commercial real estate seems resilient in 2021. In the last few months, a couple of transactions led by global firms in the Noida region have strengthened the market sentiments. Noida has emerged as a premium business destination and the announcement of mega infrastructural developments like Film city & Noida international Airport further bodes well for its realty market. Lowest interest rates, NRIs return to India, aggressive policies of UP government, thrust to the manufacturing sectors have boosted the demand of the office space market in the region leading to a South Korean mobile brand & global IT giants company relocating their offices to Noida.”
There’s good news for commercial property market as well. The traction in commercial real estate has been witnessed in the third quarter of 2020. A JLL report points out that net absorption increased by 63% to 5.4 mn sq. ft in Q3 2020. With opening up of the retail segment especially malls with all safety measures and precautions, customer footfalls are continuously increasing to match pre-COVID level. M3M commercial Property in Gurgaon forms an attractive investment option with lucrative return potential.
Ravish Kapoor, Managing Director, Elan Group, said, “The ‘Unlock’ phase has witnessed an uptick in retail sales & leasing activities in commercial real estate. We foresee the commercial retail segment to lead the road to growth in 2021. We have received a positive response from customers in the past few months owing to the revival of consumer sentiments in real estate.”
The COVID pandemic has enabled us know the need of owning a home and commercial property in order to save oneself from paying heavy rents. If you are on a lookout for affordable yet reliable property options in Gurgaon, you must explore wonderful options available from M3M Projects Gurgaon. You will find both M3M commercial Property in Gurgaon and M3M residential projects in Gurgaon of your choice.


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In accordance to a Phocuswright Buyer Journey Study in partnership with RVshare, a lot more than a quarter (28%) of tourists have rented an RV for leisure vacation1, and the the vast majority want to do it once again. In truth, 84% of travelers who rented an RV final yr are intrigued in renting once more in the upcoming 12 months, and 81% are fascinated in renting an RV even after the COVID-19 pandemic.
“RVshare will have a further effective summer as bookings are by now flooding in by the 1000’s,” claimed RVshare’s CEO Jon Grey. “We are bullish about our long run and these study success enable paint the image. RV vacation has captured the desire of thousands and thousands and with article-trip satisfaction remaining substantial it is a recipe for achievements.”
The continued interest of RV vacation will be fueled by the want to get outdoors, which is predicted to prosper previous its pandemic-induced level of popularity. Sixty-just one p.c of millennials, the largest populace of travelers, concur that outdoor travel is much more appealing now than ever.
With more than 50 percent of RV outings taken by families in 2020, youthful tourists (Gen Z and Millennials) and travelers with little ones are most probably to hire RVs in 2021 and beyond. Campgrounds are a well-known RV place, but past renters concur that they are intrigued in checking out destinations past conventional campgrounds. The urge for food for renting a RV for a musical competition or sporting event will improve publish-pandemic.
RVshare is the to start with and most significant peer-to-peer RV rental marketplace. With far more than 100,000 vehicles available, RVshare’s diverse stock ranges from inexpensive vacation trailers to luxurious motorhomes and can accommodate any out of doors adventure, whether or not it is really a weekend of camping or a cross-country tour of countrywide parks. By means of RVshare, people and teams can knowledge a just one-of-a-kind excursion and create memories that will past a life span. In addition to featuring a exclusive travel knowledge, RVshare supplies RV owners in North The united states the chance to switch their RV into a 2nd earnings. For much more information and facts, go to rvshare.com, and observe us on Facebook and Instagram @rvshare.
1 Phocuswright Inc., U.S. Client Travel Survey of 2,125 U.S. tourists aged 18+ conducted in April 2021 in partnership with RVshare


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First Take: Alibaba comes to Yahoo's rescue -- again
SAN FRANCISCO — Yahoo, you have a revenue problem.
Thankfully, Alibaba doesn't.
The Chinese e-commerce giant, which is expected to raise $15 billion in a titanic IPO this year — and in which Yahoo owns 24% — reported a whopping 66% jump in revenue, to $3.06 billion. That sent Yahoo shares up 11%, to $37.05, in after-hours trading today.
Alibaba's strong showing, and its prospects of a massive IPO, overshadowed what is a troubling — and consistent — issue at Yahoo: Its user numbers may be enviable, but sales don't reflect that in the latest quarterly results.
Flat seems to be the operative word — as in traffic (700 million global visits a month) and quarterly revenue ($1.09 billion) for Yahoo.
"All the usage figures are up, but the revenue isn't," says Jan Dawson, chief analyst at Jackdaw Research. "For Yahoo to do that, it needs to improve search and video revenue — which (CEO) Marissa Mayer is pursuing."
Despite Mayer's considerable star power and boatload of flashy business moves, the Silicon Valley company continues to struggle to jack up ad revenue amid intensified competition from Google and Facebook.
Yahoo's cut of the $120 billion worldwide digital ad market declined to 2.9% in 2013 from 3.4% in 2012, while Facebook and Google increased, according to eMarketer. Yahoo's share will decrease even further in 2014, eMarketer estimates.
At the same time, Yahoo last year lost its No. 2 spot as digital ad seller in the U.S. to Facebook for the first time, eMarketer says.
Yahoo's share of search advertising revenues is also declining.
Mayer said in a conference call today that Yahoo is making "strides' with major advertisers.
Perhaps Yahoo sees advertising nirvana in the TV-programming business. The Wall Street Journal reported Yahoo is on the verge of ordering four original video series, joining Netflix, Amazon.com and other companies that have dipped into original programming.
At this point, no idea is too radical for Yahoo to rev up revenue.
Alibaba can be Yahoo's security blanket for only so long.


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The surge in Omicron cases across the globe as well as in India, together with regulatory guidelines in the state of Maharashtra has led the organiser to review and reschedule the show dates in the collective interest of its exhibitors, visitors and industry partners. The 9th edition of IEE Expo will now take place in September 2022 at the newly launched JIO World Convention Centre (JWCC) in Mumbai.
Marking its re-start with a string of successfully organised physical exhibitions and conferences in the last quarter of 2021 including the sector’s renowned E2 Forum, Messe Frankfurt India’s Managing Director, Mr Raj Manek shared: “The E2 Forum highlighted the pulse of the industry along with imminent opportunities for lifts and elevators for passenger mobility across major sectors in India. All eyes are now set on business through the 2022 edition and as organisers, we are focused on ensuring a solid return, understanding well that the industry needs this platform more than ever for sector revival, strengthening collaborations and witnessing intelligent and interconnected building-systems technology.” Explaining the decision to shift dates, Mr Manek added: “Keeping in mind the current developments, we believe that rescheduling the show will create a healthy business environment while offering exhibitors additional time to plan with certainty, creating confidence for business. It is a difficult but responsible decision for the collective interest.”
Describing the organiser’s decision as timely and prudent, Mr Vincent Pinto, Sr Vice President - New Installation Business, Schindler India Pvt Ltd said: “Trying times call for prudent measures. We support the decision made by the IEEE team to defer the event dates in the interest of safety and adherence to the state guidelines. We advocate such safety conscious decision and are excited to participate in the upcoming September chapter."
Also rallying for the new dates, Mr R Rajaraman, VP – Magnet Technology Machines, Bharat Bijlee Ltd also added: “We appreciate the decision to prioritise safety and business interests of the industry and are in complete support of the new dates. We do look forward to connecting with the industry in person in September 2022.”
Alongside the trade fair, the organisers will also host the renowned E2 Forum which put together along with L’Avenir Elevator Consultancy as the Knowledge Partner. The forum is expected to take up key topics targeting global and Indian elevator and escalator market scenario and latest trends, real estate and infrastructure industry: opportunities, challenges and solutions, latest safety codes and standards for escalator and elevator industry, modernisation in escalators and elevators in Indian market and use of elevators for emergency evacuation in high-rise buildings among others during its run alongside the fair.
The need to strengthen connections within the sector remains strong after the hiatus of pandemic-led disruptions, and as a key contributor in meeting business objectives and leading developments for the sector, India’s leading trade exhibition for elevators and escalators – IEE Expo is where the elevator industry, realty sector, developers and urban planners will converge under one roof. Mr Boman Irani, President, CREDAI-MCHI said: “While we have been looking forward to the physical trade show, we are in complete support of Messe Frankfurt India’s decision and believe that the new dates will provide a more conducive environment to network. The changes brought about by the pandemic have caused a major shift in passenger mobility - be it for high-rises or metros, railways, industrial or commercial establishments, and for our fraternity of real estate developers, it remains as one of the top priorities to visit IEE Expo and witness these developments live when the industry can come together.”
With a comprehensive safety concept under the ‘MFISafeConnect’ standards and state-of-the-art facilities of the new-age JIO World Convention Centre in Mumbai, the 2022 edition will re-unite the industry and present the latest passenger mobility developments for the ‘new normal’.
E2 events for the building technology industries
Messe Frankfurt holds events for elevators and escalators in America, Asia and Europe: With the International Elevator and Escalator (IEE) Expo in the metropolis of Mumbai, Messe Frankfurt provides the platform for the growing Indian market. The E2 Forums in Buenos Aires (Argentina), Frankfurt am Main (Germany), Milan (Italy), in Mumbai and New Delhi (India) complement the portfolio as innovation forums for cross-industry dialogue between the industry and operators in the real estate sector, construction planning and building services technology.
Press information and photographic material:
Background information on Messe Frankfurt
The Messe Frankfurt Group is the world’s largest trade fair, congress and event organiser with its own exhibition grounds. The Group employs approximately 2,300* people at its headquarters in Frankfurt am Main and in 30 subsidiaries around the world. In 2021, the company had to contend with the challenges posed by the pandemic for the second consecutive year. Annual sales will be approximately €140* million after having been as high as €736 million in 2019 before the pandemic. Even in difficult times caused by the coronavirus pandemic, we are globally networked with our industry sectors. We have close ties with our industry sectors and serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of the Group’s key USPs is its closely knit global sales network, which extends throughout the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are expanding our digital expertise with new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services. Headquartered in Frankfurt am Main, the company is owned by the City of Frankfurt (60 percent) and the State of Hesse (40 percent).
For more information, please visit our website at: www.messefrankfurt.com
* Preliminary figures for 2021


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As England endures an unusually harsh winter, Holiday Inn has cooked up an intriguing way to keep customers comfortable: human bedwarmers. As a complementary service, select hotel locations will send a staffer dressed in a body-length fleece suit to roll around in your sheets for five minutes. As hotel spokesperson Jane Bednall tells Sky News, it's like "having a giant hot water bottle in your bed." Agreed, but will watching a stranger writhe about in your bed actually help anyone get a good night's sleep? (Watch a panel discuss human bed warmers)
It's strange, but there's science behind it: Offering "walking electric blankets" is "surely is one of the weirdest marketing gimmicks I've ever heard," says Barbara De Lollis in USA Today. But there is a scientific "theory behind this" idea: Dr. Chris Idzikowski at the Edinburgh Sleep Centre says a pre-warmed bed has been proven to help people sleep better.
"Holiday Inn wants to get in bed with you; chain employs human bedwarmers"
Best. Job. Ever: We're "dubious" about the idea of a stranger transforming our beds from frosty to toasty, says Chaniga Vorasarun in Tonic, but, from the bed-warmer's point of view, it "may well be the greatest job we have ever heard of." If you're packing a little extra weight, that's "a plus," and the best part is that "napping on the job is the job."
"Holiday Inn’s new human bed warmers"
Bring your own damn bed warmer: We're all for having somebody warm your bed, says Melanie Nayer at Gadling, and since it's been especially cold in London, we'll even "give Holiday Inn props" for this "creative" service. But come on, it's almost Valentine's Day — need we point out that there's "something to be said for you bringing the heat yourself"?
"Holiday Inn's human bed-warming services"


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After announcing 125 store closings—representing one-fifth of its locations—earlier this month, Macy’s debuted the first of its new Market by Macy’s smaller format concepts on Feb. 6 at Southlake Town Square in Southlake, Texas.
Focused on “discovery, community and convenience,” the new Market by Macy’s—with in-store Herald cafe and event center—hopes to be more than a retail shopping space.
With Market by Macy’s, the iconic New York-based department store has created what it called a 20,000-square-foot immersive shopping experience that includes Herald, Market by Macy’s cafe that serves breakfast, lunch and snacks daily along with craft cocktails, beer and wine.
Market by Macy's new foodservice component will go toe-to-toe with fellow Southlake Town Square resident Trader Joe’s of Monrovia, Calif., and Texas’ own Central Market, located across the street.
Designed by Dallas-based Swoon the Studio, Herald offers local coffee favorite Oak Cliff Coffee and a menu crafted in partnership with local food writer and consultant Leslie Brenner.
Food is presented and served on merchandise that is available for purchase within the cafe, featuring brands such as Macy’s Hotel Collection. Areas of Herald are accented by exclusive home favorites, including Martha Stewart Collection copper bakeware and handmade discoveries like Katie Kimmel’s ceramics.
“Shoppers can dine in at Herald or grab and go,” Lauren Vocelle, manager of media relations for Macy’s Inc. South Region, told WGB. “Local Dallas food writer and consultant Leslie Brenner helped create the menu, which offers items from local farmers and bakers, coffee experts and more.”
Market by Macy’s is also hoping to lure shoppers with the increasingly popular sip-while-you-shop trend. “Food items are sold within Herald at Market by Macy’s, but shoppers are welcome to bring their coffee or cocktail with them as they shop throughout the store,” Vocelle said.
Within the beauty category, Market by Macy’s is introducing a 1,000-square-foot exclusive Getchell’s Apothecary beauty shop. Getchell’s is a nod to the first female executive in retail, Margaret Getchell, who worked at Macy’s in 1860. With a focus on skincare, Getchell’s offers more than 80 beauty brands organized by the needs they address.
“Market by Macy’s demonstrates Macy’s commitment to evolve and innovate retail with more experience-based concepts to drive customer engagement,” Jeff Gennette, chairman and CEO of Macy’s, said in a statement. “Market by Macy’s will play an important role in our off-mall expansion. Our vision for Macy’s is to build an ecosystem that gives our customers easier and more convenient access to the fullness of the Macy’s brand, from online to offline, on-mall to off-mall, flagship to off-price.”
Market by Macy's event spaces can accommodate a range of community-driven programming, from cooking tutorials and book signings to crafting and fitness classes, and shoppers will be able to discover more than 20 new events and experiences each month. Upcoming events include a Wine Club Introduction to Wines from Herald Cafe and a Supper Club event featuring "Butter Chicken Lady" Urvashi Pitre.
“We believe that retail should tell a story and customers should find the joy in shopping,” Rachel Shechtman, Macy’s brand experience officer, said in a release. “Market by Macy’s is a community-driven destination where the Dallas-Fort Worth customer can shop, eat, drink, learn, relax, catch up with friends and so much more.”
On the technology front, Market by Macy’s partnered with best-in-class tech companies to explore new strategies to learn more about consumer behavior in-store, automate pricing updates with digital signage and price tags, maximize in-store communication and leverage radio frequency identification throughout to simplify inventory and monitor product movement.
“At Macy’s, we know that constant innovation is required to win in retail today,” Gennette said. “The information we learn from Market by Macy’s will help us tailor our in-store shopping experience across our portfolio of businesses.”


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News tagged "Oppo"
Leaked video shows the bezelless OPPO R7 in action
The Oppo R7 has almost no bezels at the sides and expected to be as slim as R5.
Photos show Oppo bezelless display in the flesh
Oppo's new edge-to-edge display technology gets showcased in prototype photos.
OPPO Find 7 bundle gets a €200 price cut
The deal is worth a solid €200, and nets you an over-the-ear headset and a bunch of other goodies.
Exclusive: Leaked Oppo patent reveals bezelless screen tech
The patent documentation shows Oppo is working on a phone with a bezelless screen.
Oppo pushes ColorOS beta update based on KitKat for Find 7
New beta update brings a laundry list of fixes and support for ext4 based microSD card for copying large files.
Ultra-slim Oppo R7 gets certified, set to launch soon
It will support 4G LTE network and come with a capable 20.7MP camera at the rear.
Oppo R1x launching worldwide in April
The sapphire-glass phone will be available in stores in mid to late April this year.
Oppo 3000 released in China, it's a 4G-capable midranger
The company that once brought us the world's thinnest smartphone has launched a new device today.
Oppo R5 is now available for pre-order in the UK
The SIM-free smartphone costs just shy of £300, starts shipping on February 20.
Gilded Oppo R5 to hit international markets February 12
Oppo will be releasing the R5 internationally on February 14 along with a gilded option.
Check out this week's new phone and tablet announcements
Three tablets and phablet debuted this week courtesy of HP and Oppo and they all run Android.
ColorOS 2.0.5i Beta now available for Oppo Find 7 and 7a
Oppo has been hard at work developing its ColorOS and the new 2.0.5i Beta now looks better than ever.
Alleged live photo of Oppo Find 9 makes the rounds
The unannounced smartphone is rumored to pack Qualcomm Snapdragon 810 chipset.
Oppo U3 officially debuts, no 4x zoom unfortunatelly
The 5.9-inch phablet packs a 13MP main camera and a 5MP wide-angle selfie shooter.
Six smartphones debuted today - see if you have missed any
You are forgiven if you weren't able to keep track of all the announcements today - now you can catch up!
Oppo R1C officially announced, costs around $400
The R1C has a slim 6.85mm body, 5-inch, 720p display and runs on 64-bit Snapdragon 615.
Oppo R1C leaks in detail, may use sapphire glass
Oppo R1C shows its face ahead of announcement, comes with a 5" display and dual-glass design.
Oppo U3 is now official, launches on January 14
Oppo has officially announced the Oppo U3 in China, launches on January 14.
Oppo U3 may pack 4x optical zoom, but probably not
Fitting 4x optical zoom in a body that's 9mm thick would be some kind of miracle.
Oppo R5 will be up for pre-order in India on January 1
The Chinese smartphone maker has also announced the official pricing for the slim device.


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Japan’s domestic steel product orders up 3.01% in Q1 2014
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Japan’s domestic steel product orders up 3% in Q1
Date: May 9, 2014
In March of the current year, steel product orders, including specialty steels, booked by domestic sectors in Japan amounted to 4.81 million metric tons, up 0.42 percent compared to March 2013 and up 2.02 percent compared to February, according to the data released by the Japan Iron and Steel Federation (JISF). Meanwhile, in the first quarter of this year, domestic steel product orders in Japan increased by 3.01 percent year on year to 14.41 million metric tons.
In March of the current year, steel product orders in Japan booked by the domestic construction sector decreased by 4.96 percent to 1.05 million mt, while steel product orders booked by the Japanese automotive sector came to 1.03 million metric tons, increasing by 0.59 percent, both including special steel and on year-on-year basis. Japan’s shipbuilding industry booked 332,648 metric tons of steel products in March this year, up 8.45 percent compared to March 2013.
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Major steel makers report high profits
Date: May 9, 2014
Source: NHK World
Major steelmakers in Japan have reported a big leap in profits for fiscal 2013, which ended in March. The nation’s biggest steel manufacturer, Nippon Steel & Sumitomo Metal, posted a group operating profit of 2.9 billion dollars. That’s a jump of more than 8-fold compared with the combined profits of Nippon Steel and Sumitomo Metal before they merged in October, 2012.
Another steelmaker, JFE Holdings, showed a profit of 1.5 billion dollar, 3.8 times the amount in the previous year. Kobe Steel earned 1.1billion dollars, a 10-fold rise. Company executives say shipments to construction firms and automakers rose in anticipation of the consumption tax hike last month.


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For about three years now, analysts have been predicting that the business climate for trucking would be at least a little better a year later. And for about three years, they generally have been wrong. Freight volume remains soft. Pricing stinks. And there is still too much capacity.
Once again, the consensus seems to be that the situation a year from now will be better than it is today, although some analysts are only reluctantly optimistic. There is reason to be wary. A recovery in trucking depends on the balance between supply and demand, and we still have too many trucks chasing too little freight. Both elements – truck capacity and freight demand – seem to be moving gradually in the right direction, but it just isn’t clear how long the road to recovery will be.
“While certainly we’re not where we were a year ago, there’s nothing on the horizon to get excited about,” says Bob Costello, chief economist for the American Trucking Associations. Costello believes that 2010 will be the best year in a couple of years, but those were two very bad years. “I think that the end of the year will be somewhat better than the beginning of the year.”
“It’s going to be an interesting year,” says Eric Starks, president of transportation research firm FTR Associates. “In general, it will be a year of recovery. We will still have a few stops and starts, and it’s clear we won’t see a huge amount of growth.”
Others are even less confident regarding what 2010 holds for the trucking industry one way or the other. “There are a lot of question marks rather than answers for 2010,” says John Larkin, managing director and transportation analyst for investment banking firm Stifel, Nicholaus & Co. Will there be a recovery in 2010? “I don’t think it’s a slam dunk.”
Larkin is not optimistic about a near-term rebound primarily because of consumer spending. “Two-thirds of our economy is the consumer,” Larkin notes. “Until 12 to 18 months ago, the consumer was spending everything he had and then some. Consumers assumed that appreciation of their stock portfolios and home values would cover retirement, and now they realize that they can’t count on that.”
Larkin paints an ugly picture. People are saving more. The unemployment rate – if you take into account the people who are underemployed or have stopped looking – has hit about 17 percent. Those with jobs are afraid of losing them. And many companies have asked employees to take a pay cut, unpaid vacations or days off. On top of all of this, businesses are wary of making investments due to fears about the consumer, as well as developments in Washington.
“We have hit a stable depressed level,” Larkin says. “There’s a certain amount of freight that moves around the country just to support life. What makes the trucking industry healthy is all of the durable stuff.”
There are some factors pointing toward improvement in the economy and freight demand, however. The coming year should see modest growth in freight volumes, predicts Donald Broughton, managing director and senior research analyst for investment banking firm Avondale Partners. He cites several factors pushing higher volumes, including:
• A weaker dollar that will mean more domestic manufacturing and exports;
• A greater willingness of banks to lend, but continued low interest rates; and
• Tight inventories that will mean more production and transportation once there is any increase in demand.
And there is another factor, Broughton says. “Improvements from where we have come are relatively easy.” In other words, there’s nowhere to go but up. All of that translates into at least a modest increase in truck tonnage by the end of 2010, Broughton says.
But again, the base for that growth is very low, notes Costello, who points to Gross National Product, which grew a scant 0.4 percent in 2008 and was projected to have declined 2.4 percent in 2009. That compares to historical average growth of just less than 3 percent, says Costello, who expects that GDP will grow in the range of 2 to 2.4 percent in 2010. Likewise, industrial production fell in 2008 and 2009 and is projected to grow 3.5 percent in 2010. “We’re not making up the contractions from the year before.”
There certainly has been some good news on the economy. For example, the Bureau of Labor Statistics reported that the U.S. economy lost only 11,000 jobs in November – a far cry from the hundreds of thousands per month reported earlier in the year. “While the latest unemployment reading is very surprising, I’m not hopeful that would stick,” Costello says.
Even if things are turning around, it will take time, Costello points out. The United States has lost more than 7 million jobs nationwide during the recession. Wages are down, and so are home values. And households are paying down debt. “That’s a positive factor in the long run, but not in the short run,” Costello says. “Household spending will remain muted in the near term.” Industrial production also has improved from its lows, but manufacturing output is at levels not seen since 2002, he says.
Another obstacle to a rebound in demand has been inventories, Costello says. “The main reason trucking didn’t lead was the unprecedented increase in inventories relative to sales.” While inventories have come down, they remain soft, he says.
Starks sees some other mild positives in the housing and automotive segments – mainly because those markets have been so bad in the recent past. “With regard to housing, we are at the bottom,” he says. “We won’t get to peak levels anytime soon, but there could be some modest growth.” The same is true for automobile manufacturers, Starks says. “The bleeding of the automotive market has stopped for the time being.”
But Starks agrees with other analysts that the consumer is unlikely to pull the economy through the recession. “The business sector will have to jump back in and start doing some investment.”
With truck capacity far greater than freight demand, pricing has been challenging for 2009, Larkin says. Soft pricing has taken various forms, from dramatically lower rates to revised fuel surcharge programs to payment terms of 60 to 90 days instead of 30 days, he says. “There doesn’t appear to be any catalyst short of a huge capacity reduction to change prices in the first half of 2010.”
Certainly on the surface, it would seem as if capacity should be fairly tight already. Payroll employment in trucking is down more than 200,000 from its peak in January 2007. During that same timeframe, about 6,350 trucking companies with five or more power units have exited the market, according to Avondale Partners.
The rate of trucking failures has slowed substantially since the third quarter of 2008, however. It was during the first three quarters of that year that diesel prices soared to unprecedented levels, causing many weak carriers to run out of cash as surcharge reimbursements lagged escalating fuel payments by 30 to 60 days or more. The reverse phenomenon benefitted carriers in late 2008 and early 2009.
Analysts generally agree that the dynamic keeping many carriers in business today is the unwillingness of lenders to take back greatly undervalued equipment. Broughton sees that dynamic changing now.
“In the first quarter, a lot of zombie truckers will finally give up the ghost,” he says. For starters, truck owners will face the usual annual renewals of insurance, licensing and registration. And with the door closing on the ability to buy 2007 emissions engines, used truck prices will start to firm up, making it more likely that lenders will start to foreclose on carriers that haven’t been paying their notes.
Lenders will have another reason to start getting tough, Broughton argues. They are facing annual audits where they will have to defend their decisions on bad loans. If they have written four 90-day forbearances, for example, they will have to explain why they are choosing to identify the loan as performing, he says.
Starks sees the situation in much the same way. “We expect to see a surge in bankruptcies once there’s a firming of asset values.” And there’s another reason this may happen, he argues. Given the low retail sales volume for new trucks since 2007, later-model used equipment soon could be in demand, and even older equipment might be in more demand than people might think. “It’s getting older from an age standpoint, but it’s not getting a lot of wear and tear on it,” Starks says. “We have seen trucks age this much before. You are not aging it on a work-life basis.”
In addition to promoting domestic manufacturing and greater freight demand, a weak dollar could help with truck supply, Larkin argues. “It could mean higher demand for used trucks in Eastern Europe and Asia, thereby giving lenders a reason to shut down fleet owners who are not paying their notes.”
And not only will an uptick in freight demand signal lenders to get tough, it will put other pressures on weak carriers, Broughton argues. Carriers will need more working capital, and lenders won’t be too eager to provide it to struggling trucking companies, he says.
“When you park a truck, it’s a positive cash flow event,” Broughton says. “You continue to collect on receivables for four to six weeks without the operating costs.” Putting that truck back in service means carrying the driver, fuel and other costs for the same period without revenue. In addition, weak carriers presumably have deferred maintenance that must be addressed if they need to press trucks back into service. Given all of these factors, Broughton predicts large reductions in capacity in the first and second quarters.
Another potential ally in capacity reduction could be the federal government, argues Larkin, who lists a number of developments that potentially could shrink the driver pool in the coming years – changes to hours of service, mandatory onboard recorders, tighter rules on driver health, and the Federal Motor Carrier Safety Administration’s upcoming Comprehensive Safety Analysis 2010 program. “These efforts could actually bring around a tightening of supply and demand earlier than would otherwise be the case,” he says.
Some analysts aren’t so worried about the need for dramatic reductions in capacity, however. “I think some people have underestimated how much capacity has been taken out during this cycle,” Costello says. That means that freight demand doesn’t necessarily have to match the peak levels before the recession for carriers to realize the pricing and profitability they saw during those good times.
That might just be the best news trucking companies will hear for quite some time.


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Debt-Ridden Tribune Co. Considers Bankruptcy
Monday, December 8, 2008
Media giant Tribune Co., saddled with billions in debt since it became a privately held company last year, has hired bankruptcy advisers, according to its flagship newspaper, the Chicago Tribune.
The Chicago-based company owns a coast-to-coast empire with television stations and newspapers in most of the nation's largest cities. Its holdings include the Los Angeles Times; cable television super-station WGN in Chicago; the Baltimore Sun; and WDCW-50 in Washington, the CW affiliate. The company even owns the Chicago Cubs.
Tribune assumed some $13 billion in debt when real estate mogul Sam Zell engineered an employee-owned transition to private ownership one year ago this month. Hopes were high among employees that the company could be re-engineered to be a news company of the 21st century.
But sharply dropping advertising revenue, a decline that has hit almost all of the nation's newspapers in recent years, has put the company in danger of being unable to meet its debt covenants and may force it to seek the shelter of bankruptcy reorganization, according to a source close to the company who spoke on the condition of anonymity because Tribune is privately held.
The company has hired investment bank Lazard and law firm Sidley Austin to examine the company's options, according to an article on the Tribune's Web site.
Bankruptcy, however, may not be the endgame for Tribune: Some creditors feel that newspapers forced into bankruptcy protection have even less chance of repaying their loans.
In November, the company reported a $124 million third-quarter loss, compared with an $84 million profit in the same period of last year.
Tribune is on the hook for about $1 billion per year in loan repayments. The company is eyeing a big payment in June 2009, which had worried analysts.
Tribune declined to comment for this article but directed inquiries to the Chicago Tribune article, which was posted online Sunday evening.
Further darkening Tribune's picture is the ongoing financial crisis. Analysts forecast a dim 2009 for all media companies dependent on advertising from retailers who are likely to cut back on ad and marketing spending or simply be forced out of business. Newspapers also depend on help-wanted ads, which shrink as unemployment rises.
Venerable newspaper chain Knight Ridder was swallowed in June 2006 by rival chain McClatchy Co., which has since watched its stock price lose 90 percent of its value. Over the same period, shares of The New York Times Co. are down more than 60 percent, while shares of The Washington Post Co. are down more than 40 percent.
Tribune has been raising cash by putting assets up for sale. The Cubs and their storied Wrigley Field are on the block and the company hopes for a spring sale, with an expected price tag of several hundred million dollars. However, the pool of potential bidders has shrunk since the team went on the market, as the credit crisis has put financing in doubt for such a large deal.


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Monthly Archives: October 2016
Can’t sleep? There’s an app for that. Or at least a gadget.
Not getting enough sleep can result in poor performance at work, bad moods and even a weakened immune system. Therefore, it’s important that you consistently get a good night’s rest — and these products, from customized alarms to smart sleep masks, promise to help.
Check out these 11 gadgets to help you get more shut-eye.
Say goodbye to nose strips and ear plugs, Toronto-based tech company NORA says it has a solution for snoring.
NORA aims to be a non-invasive, silent and portable tech gadget. You place one piece of it on a surface near your bed and the second piece (a padded insert) in your pillow. When the device detects any snoring, the mini pump in the pillow insert will inflate and deflate — gently moving the pillow, and as a result, stops snoring.
NOX SLEEP LIGHT
It may be time to disable your iPhone alarm clock. Here’s a bedside system that aims to help you naturally wake up.
By placing a giant band on top of your mattress, the Nox system measures sleep patterns, heart rate, breathing rate and how much you’re tossing and turning.
The data gathered is sent to an app connected to a bedside light that aspires to provide the perfect lighting and sounds to wake you up naturally. The light also apparently helps you get sound sleep by producing red wavelengths and soothing sounds that increase melatonin levels.
Facebook co-founder and CEO Mark Zuckerberg got actor Morgan Freeman to be the voice of his artificial intelligence assistance Jarvis (cheekily named after Tony Stark’s Jarvis AI from the Iron Man movies).
Zuck has been working on Jarvis for about a year, and in the video below, you’ll see him using it to manage many things in his household — including room temperature, his toaster and teaching his daughter Mandarin. You even see him use it to get one of his signature grey T-shirts to him by a cannon-like device.
The billionaire decided to create Jarvis after he wanted to learn more about AI.
“My goal was to learn about the state of artificial intelligence — where we’re further along than people realize and where we’re still a long ways off,” Zuckerberg said in a Monday Facebook post. “These challenges always lead me to learn more than I expected, and this one also gave me a better sense of all the internal technology Facebook engineers get to use, as well as a thorough overview of home automation.”
This one definitely gets a “Wow.”
For digital marketers, 2016 was a year of innovation and change. And while some of the most prominent challenges were familiar, there were brand new hurdles that seemed to emerge daily. So, what were the most critical ones?
Related: How to Stay Ahead With Digital Marketing
As marketers close out the year and consider strategies for 2017, here’s a look back at five of the biggest obstacles they faced over the last year.
1. Ad fraud is still a big problem.
The United States has one of the worst ad fraud rates in the world. This year, the rates will cost the industry more than $7 billion in advertising spend — up, once again, from the previous year (in this case, 2015). For comparison, other countries like Australia, France, Germany and the United Kingdom all have better rates.
On the bright side, as the problem has grown, so has awareness among advertisers. This has led to supply-side changes, with publishers eliminating high-risk and potentially fraudulent inventory. We’re also seeing more industrywide standards and incentives in place this year than there were two years ago.
For instance, the IAB has put in place a Traffic of Good Intent Task Force, designed to combat ad fraud and offer recommendations and best practices. And, this past summer, the Trustworthy Accountability Group launched an anti-fraud certification program.
Together, these things are turning the tide — albeit slowly. As fraud lingers, however, marketers might look at other channels that have more inherent engagement and audience buy-in — such as mobile apps and email — as a means for launching launch campaigns.
2. Marketers are stuck on data collection.
Today, more than 92 percent of marketers collect information on customers or prospects. Data-driven marketing is the industry standard. But we’re still stuck in idle, focusing on data collection. Most marketers are just learning how to crawl when it comes to making data actionable at scale; and 2016 didn’t see much progress in that direction.
When it comes to data implementation, an alarming number of marketers still lack the internal experience — either at the functional or operational level — to be successful. This is why, according to a report from IDG Connect and Avention, more than 40 percent of marketers can’t draw insights from harvested data.
This will hopefully change as marketing tools offer more self-service, automating data analysis and implementation. And others will offer machine-learning capabilities to drive immediate applications of customer data.
3. Marketing software is too hard to use.
During this past year, 2016, technology’s ease of use has become a much bigger focus for the marketing industry. This is because of the complexity in the customer journey. Scott Brinker, the CTO of ion interactive, said it best when he characterized the funnel as “hundreds of touchpoints” that are “aching to be addressed every month.”
As the customer journey has grown more complicated, with more touchpoints and data, software supporting marketers needs to be simplified. Companies that do that will optimize adoption and support ROI.
Related: Tailor Your Digital Marketing to the Customer Experience
Marketing software shouldn’t be a rite of passage. To navigate the complexity of the modern customer journey, it must be built for ease of use, with intuitive UIs and functionality. This has been the focus of many software providers this year. Advertisers, agencies and marketers want more platform simplicity from vendors.


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Vent-Axia has announced it has been shortlisted three times in the H&V News Awards 2019, which takes place at London’s Grosvenor House Hotel on 25 April.
Ensuring the performance of architectural ventilation solutions can be secured from every perspective by taking advantage of additional services from Gilberts Blackpool.
Mat Southgate, Technical Quality Manager at Waterloo Air Products PLC, has been speaking about the company’s new mill finish alternative.
Mitsubishi Electric has expanded its chiller offering with two new additions to its Climaveneta portfolio – the new i-NX and i-BX air-cooled chiller ranges.
Mitsubishi Electric has added TF Solutions Ltd as a new Value Added Reseller (VAR) to the company’s family of sales partners, expanding its coverage within the UK market.
GEZE provided a focused glimpse into the future, as a sponsor at this year’s Hilton EMEA Engineering Conference 2019, held at the Hilton London Metropole.
Reznor, part of Nortek Global HVAC (UK) Limited, manufactures high efficiency warm air heating equipment, including the AB range of industrial air curtains.
The Macallan’s new distillery and visitor experience is showcasing quality and craftsmanship beyond its own brand values, thanks in part to Gilberts Blackpool.
Aggreko, has been confirmed as a supplier on Crown Commercial Service’s Heat Networks and Electricity Generation Assets (HELGA) agreement.
Mitsubishi Electric has added R32 Standard Inverter and Inverter models to its Mr Slim air conditioning range, offering the market a complete solution.


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Stevia firm PureCircle nearly doubled its sales in the third quarter as its table-top sweeteners won market share in the US and France.
In a trading update today (13 January), the firm recorded sales of US$995m for the quarter compared to $488 in the comparable period of 2009.
The company said it is expecting to report sales of $13m in the first half to 31 December. For the full-year, analyst consensus estimates are in the range $69m to $78m.
“The company will benefit from having more customers further developed in their product cycles than in prior periods,” the company said. “Stevia table-top sweeteners continue to win market share in the US and France. Qualitative data from other markets, such as Mexico, France, Australia shows consumer sales increasing at similar rates.”
PureCircle will release its half-year 2011 results on 21 March.
Click here to view PureCircle’s full trading update.


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With over 150 million daily active users sharing nearly 9,000 photos and videos every second, Snapchat's advertising potential is bigger than ever. We’ve gone through Snapchat’s most important updates from 2016, and discussed the ones that matter the most for marketers.
Snapchat geofilters are location-based overlays that users can design and add to their photos and videos. Previously, this feature was non-commercial, meaning that geofilters could not include brand logos or any other form of advertising. This February, Snapchat introduced on-demand geofilters, giving businesses of any size the opportunity to create their own branded overlays. They’ve also designed a special geofilter web tool to help create them. The price is as little as $5 for one Snapchat geofilter, which is surprisingly little, compared to their other ad products like Sponsored Lens that were used in the Super Bowl.
In March, an updated Snapchat Chat was released with many new features, including video calls – and most importantly for marketers – the ability to share website links in the chat. The links can open directly in the Snapchat browser, giving users access to the shared content without having to leave the app. This is great news for marketers leveraging chat advertising who will now be able to link to their pages while communicating with their customers. Additionally, Snapchat launched Groups, which allows up to 16 people to communicate in one chat and share messages and media, that will self-delete after 24 hours.
Snapchat has always been a unicorn among social networks with its requirement to create exclusive content in the app. In July, the long awaited feature arrived, allowing users to upload older photos from their camera roll and share it with their community. Now users can save their Snaps into a Snapchat cloud – a digital space for storing all of their photos and videos. This was the biggest shift so far from Snapchat’s signature feature of self-deleting content.
This November, Snapchat released its new Snap to Unlock function for advertisers. Now companies can enable users to scan a special Snapcode to receive an exclusive filter. Quick Response Codes was previously not successful, but it’s a different story now with Snapcodes. Snapchatters already use these codes to find each other and they love the discovery aspect of them. Snap to Unlock ads are playful and mysterious, making it an effective way for marketers to capture their audience’s attention and showcase their products to an engaged audience.
Until November, the only content Snapchat users could re-share on the platform were Stories from Snapchat Discover – a special section of the app featuring bite-sized materials posted by official media publishers. Now users can tap on any Story and share it with their friends, providing a great way to learn about new profiles. This update is especially important for marketers, who can now help to expand their Snapchat audience by creating shareable photos and videos.
This year Snapchat changed its name to Snap Inc. and positioned itself as a “camera company” by introducing smart camera glasses called Snapchat Spectacles. To complement the launch, they announced augmented reality lenses (you can’t take selfies wearing Spectacles, right?). In 2017 we might see more updates around augmented reality and image recognition-triggered ads.
Snapchat proved to be an innovator on the social media scene with a strong lead in mindshare. The company needs an innovative approach more than ever, now that it’s facing competition from Instagram Stories. Since its launch, Instagram Stories has already accumulated 100 million daily users, which is a solid number compared to Snapchat’s 150 million. Do you want to improve your Snapchat strategy? Check out how you can succeed with our 5 Tips For Businesses on Snapchat.
See what the introduction of Instagram Stories means for Snapchat in our latest Social Media Minute:


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Apple Inc. (NASDAQ: AAPL) on Tuesday published its third-quarter financial results, reporting stronger-than-expected numbers. Both sales and net profit increased in double digits as iPhone sales continued to recover from the recent slowdown.
The Cupertino-based gadget giant said its third-quarter sales jumped 36% from last year to $81.4 billion. The growth was driven by a 50% surge in the sales of iPhone, the company’s flagship product. The top-line also came in above the consensus estimates.
During the three-month period, net profit climbed to $21.7 billion or $1.30 per share from $11.3 billion or $0.65 per share in the third quarter of 2020, surpassing Wall Street’s expectations.
“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Apple’s CEO Tim Cook.
After an upbeat start to the year, Apple’s shares made strong gains and hit an all-time high earlier this month. The stock closed Tuesday’s regular trading lower.
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Arun Sudhaman 24 May 2018 // 5:05AM GMT
AMSTERDAM — Purpose must be a driver of profit, said Unilever SVP of sustainable business development and communications Sue Garrard yesterday in a keenly-anticipated session at the 2018 In2 Innovation Summit in Amsterdam.
Speaking in a front of a packed audience, Garrard revealed three keys to building a genuine purpose-based business, starting with the imperative of ensuring that purpose is good for the business, rather than a "sexy thing to do."
"Purpose is not lipstick, it’s the DNA in your business," said Garrard. "The narrative out there is that there is a tension between profit and purpose. You absolutely have to start by knowing what your business case is."
If you are unable to demonstrate how purpose can drive profit, added Garrard, then you are left with CSR. "We closed our CSR department because we could see it was a counter to creating systemic change," added Garrard.
Garrard pointed to Unilever's 'sustainable living' brands, which have outgrown their peers, thanks to the "new contract" between business and citizens. "Sustainable living brands have grown 50% faster than the rest of our portfolio. If you get the substance of it right, that old dilemma — is it profit or is it purpose — melts away."
In particular, she used Vaseline as an example of her second lesson — 'build your brands'.
The third key, said Garrard, is to 'listen to your people', in Unilever's case its 40k employees engaging in the company's ‘Have Your Say’ project, about the future priorities for the Unilever Sustainable Living Plan. "They have become undoubtedly just the most incredible asset for our business."
Meanwhile, Garrard admitted that Unilever's biggest challenge in terms of its purpose strategy lay in convincing the investment community. "The finance guys are there to keep the bar high around business delivery and to keep looking into how you can translate that into something investors can price in, which I still think is our biggest challenge."
Addressing that, she noted, requires genuine collaboration across sustainability, marketing and communications. "The more you see that as creating mutual strength, rather than competition, the better it is."
Finally, in terms of avoiding the charge of 'greenwashing', Garrard advised companies to "embrace NGOs."
"Ask them what you can do better. Mean that seriously," she said. "This is all about motive and intent and people can tell that a mile off."
"Secondly, be brave about how transparent you are," she added, noting that people feel alienated by companies that are not being totally honest with them. "That’s why open source absolutely everything."
And, accept that you will get criticised, she warned. "You won’t get criticised anything as much for being honest as you will for being misleading," said Garrard. "Showing the wrinkles is believable and it helps people to give you credit where you deserve it."


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Rivian Automotive (RIVN) rolled out the first all-electric pickup truck, the R1T, on Sept. 14, 2021. On Nov. 9, 2021, the much-anticipated RIVN IPO priced strong. The EV startup had a monster IPO, however shares have fallen well below their IPO price recently, amid an overall market downturn. Rivian now has a market cap of $26.933 billion. Is Rivian stock a good buy?
The Rivian IPO priced an upsized 153 million shares at $78 a share Nov. 9, 2021, above the expected range. The RIVN IPO raised $11.9 billion, giving Rivian an initial valuation of roughly $77 billion. Shares soared to 179.47 on Nov. 16, 2021, but then sold off sharply over the following weeks and months.
Rivian picked a good time to go public, as it is among the few startup EV makers actually producing and delivering vehicles. Lucid Motors (LCID) more than doubled in the first four months after going public in July 2021, as it began deliveries. LCID stock came public via a SPAC merger. LCID stock has since pulled back to around $20.
Rivian announced Dec. 16, 2021, that it will open a vehicle assembly and battery plant near Atlanta. The $5 billion project is slated to break ground in the coming months.
On May 2, Rivian and Georgia officials announced a $1.5 billion state and local incentive package for the EV maker that includes tax credits, according to a Reuters report.
However, local residents oppose the new factory, saying they were assured in 2017 that the area would remain largely rural.
In response, on Feb. 22, 2022, Georgia officials said the state is taking over the controversial development project, which will allow officials to bypass local rezoning hearings. Georgia will take ownership of the site, to “streamline” the development process, according to a local report.
On May 25, the Atlanta Journal-Constitution reported that a Morgan County board voted 4-1 in favor of a property rental agreement that’s the centerpiece of the $1.5 billion incentive package offered to Rivian.
The agreement means Rivian will rent the land where the factory will be built and won’t have to pay property taxes on the nearly 2000-acre site.
Rivian will bring in a new chief operating officer, according to a TechCrunch report, citing an internal email first reported by Bloomberg. Frank Klein will become COO on June 1. Additionally, Charly Mwangi, the head of manufacturing engineering, is leaving Rivian.
Rivian is also redrawing its organizational chart. The biggest change: It’s dividing its commercial business with one group focused on its B2B vertical and the other on its B2C vertical. Jiten Behl will lead the B2B business, which includes commercial vans and Rivian’s relationship with its flagship customer, Amazon.
Rivian has not yet named who will lead its B2C business.
Rivian Files Lawsuit Vs. Seat Supplier
Rivian filed a lawsuit on March 9 against Commercial Vehicle Group, alleging that the seat supplier violated a contract by nearly doubling prices that Rivian says the two companies initially agreed to, according to a May 16 Wall Street Journal report. The seats are for Rivian’s commercial vans bound for Amazon, its key client.
Commercial Group disputes Rivian’s claim, the report said. The company says the price hike is due to Rivian’s multiple revisions to the product.
Rivian warned in the complaint that if the dispute is not resolved it may be forced to shut down the commercial van program.
RIVN shares fell 7% on the news on May 16.
Ford Sells Chunk Of Rivian Stock
Late on May 13, Ford sold 7 million RIVN shares at a price of $26.88. That’s on top of the 8 million it sold on May 11. That means Ford’s stake has fallen to just under 10%, or 86.9 million shares. Ford’s stock sales have pushed RIVN shares even lower, as the embattled EV startup missed quarterly earnings.
Ford’s move is not entirely a surprise. Several months ago, Ford vacated its seat on Rivian’s board of directors.
Additionally, on Nov. 19, 2021, Automotive News reported Ford and Rivian are scrapping plans to make an electric vehicle together. Ford originally announced its intention to make a Rivian-powered EV in 2019 when it first invested $500 million into the startup. Ford and Rivian have already canceled a vehicle they planned to make for the Lincoln luxury brand in 2020.
Amazon Reveals 18% Stake In Rivian
The Amazon (AMZN)- and Ford-backed Rivian’s R1T beat Tesla and General Motors auto to the punch, as the EV market for electric trucks heats up. But production has been slow, while its R1S SUV has largely been pushed out to spring 2022.
Rivian makes its vehicles at its plant in Normal, Ill. The plant has a production capacity of 150,000 units annually.
The company is prioritizing production of electric vans for Amazon, according to a recent Bloomberg report. Amazon has ordered 100,000 of Rivian’s electric vans. And while Rivian’s R1T pickup has grabbed headlines recently, Amazon’s vans are more likely to be revenue drivers in the near term.
Amazon said on Feb. 2, 2022, that it had a roughly 18% stake in Rivian. However, Amazon is also looking elsewhere to electrify its fleet, On Jan. 5, 2022, Amazon and Stellantis (STLA) said they’re are partnering to develop vehicles with Amazon software in the dashboards. Stellantis will also make electric delivery vans for Amazon.
Rivian Hikes Prices
Rivian hiked the price of its R1T electric pickup around 17%, which will increase the base cost to about $78.975 from $67,500. The price of the R1S SUV will jump about 20%, bringing the new base price to about $84,000 from $70,000. All prices are before federal tax credits of $7,500.
The price increases apply to existing orders. RIVN stock fell 25% in the two days after the price hikes were announced. Scaringe said the price increases are due to rising costs of the components and materials that go into building its vehicles.
Rivian is also scrapping the 5-seat R1S electric SUV. It will only be offered in a 7-seat version.
GM Stock A Buy? Is General Motors Really Worth Less Than Rivian?
Expansion Risks Ahead
D.A. Davidson analyst Michael Shlisky said in a May 31 note to clients that like most EV startups, there have been “bumps in the road” as Rivian ramps up production.
“While we loved the truck we tested, we are worried that negative headlines will outnumber the positives in the months to come,” he said. Shlisky initiated coverage with an Underperform rating and a price target of $24.
Shlisky said Rivian’s vehicles are targeted to high-end customers for now. The company plans to eventually offer less-expensive models. However, Shlisky says Rivian’s plans to enter lower-priced categories and geographies may present a brand problem.
“Future plans to reach a mass-market audience with smaller and/or cheaper vehicles offer volume and margin promise, but also have the potential to bring confusion on the meaning of the Rivian brand to the high-end customers,” he wrote. “In addition, plans to take the brand global are logical, in our view; that said, pickup trucks and large SUVs are less-popular in global markets than in the U.S.”
Road To Ramp-Up ‘Choppy’
Morgan Stanley’s Adam Jonas initiated Rivian coverage in December 2021, with an outperform rating and a price target of $147.
Jonas still believes Rivian is “‘the one’ that can challenge Tesla.” However, in a note to clients Jan. 26, 2022, Jonas said: “The road to ramping production will be choppy, but we expect largely due to supply rather than demand.”
Jonas said Rivian’s stock decline is a “reality check” of the impact of bottlenecks and other growing pains.
That said, Jonas said in a March 25 note that while fiscal 2022 is a year of challenges related to ramping production, he is confident in Rivian’s strategy, including the entire value chain from “up to the mine down to the delivery of an Amazon package to you front door or a back-country excursion.”
Jonas believes Rivian’s joint ventures to secure a greater supply of cells and enabling materials to make battery packs in-house is what sets it apart from legacy automakers that are expanding their EV offerings.
“Over time, we believe investors will reward those EV makers that can control their own destiny with battery supply at scale,” he wrote.
Jonas adds that the current share price significantly underestimates the strategic value of Rivian’s relationship with Amazon.
JPMorgan has an $85 price target for Rivian stock and an overweight rating.
However, in a March 31 regulatory filing, Rivian raised a few red flags. It said Covid and the war in Ukraine had significant impact on its business, “from facility construction to equipment installation to vehicle component supply.”
Management also said it expects the “very sizable increases in recent months in the cost of key metals, including lithium, nickel, aluminum, and cobalt” to persist.
Furthermore, it stated that rising oil prices have resulted in “significant increases in freight charges and raw material costs.”
And the global chip shortage continues to be a problem.
“We do not have long-term agreements with all of our semiconductor chip manufacturers and suppliers,” management said. And if these manufacturers or suppliers become unwilling or unable to provide an adequate supply of semiconductor chips, Rivian says it would not be able to quickly find alternative sources.
Production Picks Up In Q1
Rivian produced 2,553 vehicles in the first quarter, including a mix of the Rivian R1T pickup truck, R1S SUV and commercial vans headed to its main customer, Amazon.
The company said in a statement Tuesday it’s on track to meet its production goal of 25,000 EVs for 2022, but that’s half it’s original estimate of 50,000. Rivian delivered 1,227 vehicles in the first quarter.
Rivian’s production challenges earlier this year forced the EV maker to revise estimates.
Rivian says it doesn’t expect to be profitable for the foreseeable future. The company intends to use net proceeds from the Rivian IPO for working capital, to fund growth and for other general corporate purposes.
CEO Scaringe said at a Wolfe Research conference on Feb. 24 that production ramp-up at Rivian’s Normal plant is “absolutely making progress,” but supply-chain issues are still slowing production.
Scaringe said the global semiconductor chip shortage is the “most painful” constraint in ramping up production.
The company reiterated its expectation to produce 25,000 vehicles this year in its quarterly report, as it grapples with supply-chain issues and production slowdowns.
Rivian lost $1.77 per share in Q1 vs. a loss of $4.10 a year ago. It had sales of $95 million. There is no year-ago revenue. FactSet had expected a loss of $1.41 a share on sales of $132.7 million.
Rivian reported negative free cash flow of $1.452 billion in Q1 vs. $802 million a year earlier. It ended Q1 with $16.971 billion in cash and cash equivalents.
The EV startup has more than 90,000 R1 EV preorders as of May 9, including more than 10,000 new orders since a March price increase. It also has produced 5,000 EVs since the start of production, representing a big jump in the current quarter.
For Q1, Rivian previously disclosed that it had produced 2,553 EVs and delivered 1,227 EVs.
Wedbush analyst Dan Ives had some sobering words about Rivian. “Let’s call it like it is, Rivian has been a train wreck since its IPO and an overall black eye for the EV industry,” he wrote in a note to clients May 11.
“We believe Rivian from a core engineering and design perspective along with the Amazon commercial relationship has potential to be a major EV stalwart over the next decade,” he said. “However, for that to happen, they need to start delivering models to customers and stop the excuses.”
Wedbush maintains its Outperform rating on RIVN stock “as we believe Rivian is a long-term winner in EVs.” However, it lowered its price target from $60 to $30, reflecting a lower multiple and reduced numbers.
The embattled EV maker has an RS Rating is just 6 out of a best-possible 99. Institutional investors hold around 35% of its stock. As of March 2022, 753 funds have a stake in RIVN stock. Its Accumulation/Distribution Rating is C-, indicating an equal amount of selling and buying of its shares among institutional investors.
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Rivian Faces Fierce EV Pickup Competition
The Rivian R1T is the first electric pickup to market, but not the last.
“Several traditional automakers and EV new entrants have announced plans to launch EV pickups in the 2021 through 2024 time frame,” Goldman Sachs told clients in April 2021.
GM plans to begin deliveries of its high end EV Hummer later this year. General Motors will follow up with a Silverado EV as well as a GMC electric pickup for 2023. Ford’s first electric pickup, the F-150 Lightning, is coming in spring 2022. It has a targeted range of 300 miles vs. the Rivian’s truck’s 314-mile range per charge.
Rivian Vs. Tesla
Meanwhile, Tesla CEO Elon Musk said Cybertruck production won’t begin until “hopefully” sometime in 2023. That could reflect issues with mass producing 4680 batteries, key to making the Cybertruck and the long-delayed Semi and Roadster viable.
Tesla filed a lawsuit against Rivian and a number of former Tesla/current Rivian employees in July 2020 in California alleging trade secrets misappropriations. It recently added to that lawsuit. Rivian says it will fight the charges vigorously.
Rivian Throws Weight In Large SUVs
In the full-size EV SUV space, Tesla led the way with its Model X. But a Model X refresh has gone slowly, while sales are relatively small. The Rivian R1S will have an opportunity to make inroads. But GM is coming out with the luxury Cadillac Lyriq this spring.
In the commercial market, Rivian has a deal to make 100,000 electric delivery vans for Amazon.com. It plans to deliver the EDVs to Amazon by 2025. Rivian says it expects to deliver at least 10 vehicles in December 2021. But Rivian’s reliance on one big customer is risky.
GM and Ford have begun shipping out EV delivery vans to customers.
Rivian’s direct-to-customer model allows it to manage all sales, deliveries and service operations in-house without relying on a franchised dealership network or other third parties. So far, 22 states and the District of Columbia allow Rivian to sell directly to consumers. Those states include California, Florida, Arizona and Illinois.
But several states are challenging Rivian’s DTC model, citing dealership laws. In March, several auto dealership groups in Illinois sued both Rivian and Lucid over their DTC sales model, which they say is illegal.
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Is Rivian Stock A Buy?
Deliveries are getting underway, meaning Rivian will start generating revenue, with rapid growth from essentially zero seen. But heavy losses are likely to continue for some time.
Until RIVN stock has some sort of track record following the Rivian IPO, investors won’t have a clear buy point.
Bottom line: Rivian stock is not yet a buy. RIVN stock plunged after missing earnings on March 1o. Shares are trading well below their IPO price at around 26. Its RS Rating is just 6 out of a best-possible 99. But keep an eye on this intriguing EV startup as it works through production ramp-up issues.
Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.
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