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- Lord & Taylor is coming back to New York.
- Under its new owner, clothing rental company Le Tote, Lord & Taylor will have a pop-up shop in SoHo this holiday season.
- Le Tote co-founder Brett Northart says his team's goals include going after younger customers and introducing more people to the concept of renting clothes.
The Lord & Taylor brand is making its return to New York, after its iconic flagship store on Fifth Avenue went dark earlier this year, following more than a century in business.
Under its new owner, rental service Le Tote, Lord & Taylor will open a pop-up shop in the SoHo neighborhood of Manhattan, at 138 Wooster Street, from Dec. 11 through Christmas Eve. The shop, clocking in at about 2,400 square feet, is just a fraction of what used to be roughly 700,000 square feet of dresses, hand bags and shoes that Lord & Taylor operated on Fifth Avenue.
Le Tote completed its acquisition of Lord & Taylor from Hudson's Bay for $100 million in cash earlier this year. Hudson's Bay still owns the department store chain's real estate, but Le Tote received three years of free rent for 38 locations, with five stores planned to shut.
Hudson's Bay said it sold Lord & Taylor to boost its balance sheet and focus investments on its Saks Fifth Avenue business and Hudson's Bay stores in Canada.
Now, Le Tote is focused on expanding Lord & Taylor's audience to reach younger consumers and make sure they don't think of the stores as "where my mom shops," according to Le Tote co-founder and president Brett Northart.
"We want [this SoHo store] to signal we are investing in the business. It's not going away," Northart said in a phone interview. "This pop-up ... is a way for us to really collect feedback and understand what people are looking for." He added that it will help Le Tote determine what it does with its other real estate, whether it shutters some larger locations to open smaller ones or carves out space in larger stores for other uses, down the road.
"If we keep doing things the same way they have been done, ... [we're] going to fail," Northart said.
At the SoHo pop-up shop, customers will find an assortment of merchandise including Lord & Taylor's famous private-label cashmere for men and women, jewelry, make-up, gift sets for the holidays, as well as a small section devoted to Le Tote's clothing rental service.
In acquiring Lord & Taylor, Northart said his team's goal is also to introduce more people to Le Tote and the concept of renting clothes. He said four Le Tote rental studios have already been added to existing Lord & Taylor department stores.
The traditional Lord & Taylor customer "isn't as familiar with the idea that you can even rent clothing," Northart said. "A lot of people don't even know we exist. There is a lot of education we have to do."
Though it's operating Lord & Taylor as a private business now, and won't have public scrutiny from investors, Le Tote still faces the same challenges that have plagued other department stores.
Sears and Barneys New York have both gone bankrupt in roughly the past year and a half. Macy's and J.C. Penney are struggling to grow sales. Shoppers are increasingly turning to the internet to buy perfume, purses and pants, bypassing a trip to the mall. That or they're going directly to brands like Coach and Nike and skipping department stores.
So Le Tote knows it must give customers a reason to seek out Lord & Taylor.
"Customers don't want to get lost in a box," Northart said. "That ship has sailed."


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• Block Inc. exceeded expectations of industry analysts and experienced a rise in its share price after-hours.
• However, the company’s bitcoin (BTC) revenue is falling due to the price drops.
• The bitcoin sales made by Block Inc.’s Cash App totaled $1.83 billion in Q4, representing a 7% decrease compared to the same period last year.
Block Inc.’s Quarterly Report
Block Inc. reported an increase in its share price through after-hours trading despite a drop in its bitcoin (BTC) revenue due to the declining prices of BTC.
Bitcoin Sales Revenue
Cash App, Block’s mobile payment application, offers Bitcoin sales to its consumers via the app which brings in money. In Q4, Bitcoin sales dropped by 7% totaling $1.83 billion compared to the same period from last year.
Price Drops Affecting Revenue
The decrease in sales has caused Cash App’s Bitcoin gross profit to drop by 25%, coming in at $35 million for the quarter which is the lowest quarterly total since reporting began.
Gross Profit Increases
Despite this, Block Inc.’s gross profit increased by 40%, bringing adjusted profits before interest, tax, depreciation and amortization (EBITDA) up to $281 million or 53%. The aggregate amount of revenue during this period was $4.65 billion.

domain: news


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VCTRADE, a cryptocurrency exchange owned by SBI Holdings Group, a top financial firm in Japan, has indicated that it will use a proprietary technology to secure its exchange wallet.
The technology will be supplied by Sepior, a blockchain security firm based in Aarhus, Denmark. Sepior offers security products for cryptocurrency custodial wallets, cloud-based SaaS, public or private blockchains, etc.
According to a press release by Sepior, the two firms have agreed “to license Sepior’s Threshold-Signature Wallet Security technology and to jointly develop proprietary wallet to secure the online contents and transactions on SBI’s Virtual Currencies exchange platform, VCTRADE.”
This technology employs a multiparty computation (MPC) approach to provide the much needed level of encryption key protection “available for cryptocurrency wallets.”
With cryptocurrency exchanges in Japan leading in loses from hacks, the attention to secure exchange wallets is being given extra consideration both by exchanges and financial regulators in Japan and over the globe.
SBI’s move to use a multiparty computation approach will raise the bar for cryptocurrency exchange security “in part through more effective key management and protection.”
Yoshitaka Kitao, President and CEO, SBI Holdings, observed that “after extensive investigation, our security research team determined threshold signatures based on multiparty computation (MPC) offered our desired level of security, performance, and scalability needed to manage transactions for our growing SBI Virtual Currencies customer base.”
Kitao continued to note that Sepior has in the past applied the same technology to secure online transaction and eliminating the need to rely on a single trusted party.
VCTRADE is one of a kind crypto exchange since it’s backed by a leading financial firm in Japan and has an operating license from the country’s financial watchdog.
Do you think SBI’s usage of a proprietary technology to secure its exchange wallet will push other exchanges to employ a similar technology to minimize the possibilities of a security breach on their platforms?
Let us know your thoughts in the comments section below.


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Tencent has denied a recent report that claimed its overseas marketing and sales team for Arena of Valor was disbanded following the game’s lacklustre performance in Western markets.
The Chinese publisher had big hopes for the game, which is a Westernised version of its multi-billion dollar hit Honor of Kings, China’s top grossing game.
But the title has failed to make much of an impact on the top grossing charts in the US and other Western countries. A recent Reuters report claimed that Tencent had changed its original plans for the game and disbanded the marketing team in Europe and the US.
However speaking to Bloomberg, Tencent’s overseas marketing director for Arena of Valor and its TiMi Studio Group, Vincent Gao, denied the marketing team had been let go.
He claimed the publisher never had a European team and that it was actually recruiting more developers in America.
No mention was made of the company’s strategy on Arena of Valor, however. Instead, Gao discussed the company’s plans for Call of Duty Mobile, which it aims to roll out across the US, Latin America and Europe.
The game, developed in partnership with Activision Blizzard, is currently in beta testing.
Tencent will be at Pocket Gamer Connects Hong Kong on July 17th and 18th. Head to the website for more details on the conference.


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The European Central Bank (ECB) is expected to cut interest rates later on today (2 May) as it attempts to boost growth.
Fears surrounding the eurozone economy are still prevalent and the lowering of the interest rates would see them reach an all-time low.
The rates, which are currently at 0.75 per cent, have not been cut for ten months but raising them has been deemed necessary as a result of concerns over the economy and receding inflation fears.
Official data released this week revealed record high unemployment in the eurozone, with inflation at a three-year low.
This has shrouded the eurozone economy in mystery as many of its members remain either in recession or are suffering from a poor rate of growth
Calls for European countries to move away from austerity measures have grown in recent months, with many calling for a greater focus on stimulus measures.
The ECB is due to announce its decision at 12:45 BST.
By Tony Aynsley


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The economy in Europe and the US is an unusual beast right now. We have full employment, extended GDP growth, and the stock market is through the roof. The S&P 500 has breached 3000, the Dow is at 27,000, and the FTSE 100 is at 7530 all at or near all-time highs.
Normally, these conditions would be screaming for an interest rate rise. The economy ought to be overheating, inflation ought to be spiraling, wages ought to be going up, along with demand, and employers should be struggling to find extra workers and resources to fill their order books.
But the opposite is happening.
The European Central Bank just concluded that it needs to "be ready and prepared to ease the monetary policy stance further" after failing, again, to goose inflation up to its 2% target.
In the US, Federal Reserve chair Jerome Powell also signaled he will cut rates. "There is a risk that weak inflation will be even more persistent than we currently anticipate," he told Congress.
So what's going on? Why are we living in a Bizarro World where a powerhouse economy generates low inflation, and central banks shovel ever more cash into an on-fire market?
"Unemployment has fallen three full points since 2014 but inflation is no higher today than it was five years ago," she said in a congressional hearing with US Fed chair Jerome Powell [see mark 2.06.30].
"The economy can sustain much lower levels of unemployment than we thought without troubling inflation," Powell responded.
That, really, is the headline here: inflation no longer exists.
Inflation is gone.
Even 10 years of interest rates set near zero no longer generates consumer price increases. The textbooks of the early 2000s said we should be living in the Weimar Republic, or Zimbabwe, right now. Instead, house prices in London have been in decline for more than a year.
Inflation has been solved. We solved it, through our new inventions.
The macro effect of all this "solving" is a permanent downward pressure on prices which is good for workers who don't want their wages eaten away by inflation (but bad for workers who want nominal pay rises).
In a note to clients last week, Nomura analysts Rob Subbaraman and Andrew Ticehurst said: "Major central banks seem trapped in an era of ultra-loose monetary policy. Very low interest rates for an unusually long period of time involve diminishing returns and rising costs that make normalisation of monetary policy increasingly difficult."
They worried that the "problem" of low inflation would create "a loop that makes it even harder to normalise."
A low-inflation, low-interest rate environment can definitely create problems:
But low inflation brings opportunities, too.
Governments now have more fiscal "space" to invest and build.
"In countries with fiscal space, it should be used more forcefully to boost sustainable growth, especially spending on worthwhile things like infrastructure, education and R&D," Nomura's Subbaraman and Ticehurst said. They are part of an ever-noisier chorus of investment bank analysts begging governments to wake up and smell the money.
Now is the time to spend. Not just to create inflation (and avoid deflation, which can be even worse). But to build the energy, transport, defence, health, and education infrastructure we will need for the future. Low cost debt makes this spending cheap.
It's a rare, golden opportunity for governments (and an intellectual defeat for conservatives).
Hopefully, they won't squander it.


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- WHITE PAPERS
ATLANTA—Stern words, barbed accusations and some ominous predictions about the restaurant industry's responsibility for America's obesity problem were served up during an hour of titillating debate on Sept. 23 at the 44th annual Multi-Unit Food Service Operators show.
More than 1,000 attendees witnessed a sometimes-terse war of words between foodservice industry advocates Steven Anderson (president of the National Restaurant Association) and Rick Berman (president of the Center for Consumer Freedom), and their opponents John Banzhaf (professor of public interest law at George Washington University Law School in Washington, D.C.) and Ben Kelly (executive director of the Public Health Advocacy Institute [PHAI]).
Suffice it to say, there wasn't a lot of love on the stage.
Banzhaf, best known as the lawyer who took on "Big Tobacco," and Kelly regarded for his efforts in the 1960s and '70s to increase automobile safety, said repeatedly during the debate the U.S. restaurant industry must accept some share of the blame for the country's growing obesity problem. And while Kelly appeared to invite cooperation with the industry to reverse what he called an obesity epidemic, Banzhaf was decidedly more bellicose.
"I think it's very clear that we will be successful in suing fast-food restaurants to pay their fair share (of the responsibility) for obesity," said Banzhaf.
John Banzhaf, Professor of public interest law at George Washington University Law School
Both Anderson and Berman countered regularly, claiming consumers who make poor dietary and lifestyle choices are to blame for obesity and related illnesses, not the restaurant industry. Anderson accused Banzhaf and Kelly of looking for scapegoats to sue rather than looking for solutions to the problem.
"This is all about calories in and calories out," said Anderson, adding that Americans' increasingly sedentary lifestyles have contributed significantly to the country's weight-gain problem. Research done over the last 20 years, he said, has shown that Americans' physical activity has dropped 15 percent, while their calorie consumption has risen just 1 percent. "It's important to remember that 76 percent of all meals are eaten at home, not eaten in restaurants."
Steven Anderson, President, National Restaurant Association
When debate moderator Tim Ryan, president of Hyde Park, N.Y.-based Culinary Institute of America, asked the four men if any common ground existed between the two camps, the answer largely was no.
Playing the centrist throughout the debate, Kelly turned and asked the audience of foodservice company leaders if there was "a place for all of us to come together where a difference can be made in this health problem?"
Not if restaurant companies are sued over the issue, Anderson said.
Banzhaf assured the group that outcome was inevitable.
"I think both sides know that these suits are going to continue coming and eventually going to be won," he said. "In media article after media article, even our greatest detractors in the industry are saying, 'Yes, they will be winning these suits.' The question is how many, and how fast are you all going to respond to limit your liability?"
Can't we all just get along?
Berman said Kelly's attempt to position himself in the middle was deceptive in light of a PHAI-hosted event in June that was held specifically to encourage and support obesity-related litigation against the restaurant industry.
Litigation comes first, litigation makes the breakthroughs (and) generates a lot of public opinion, which puts pressure on legislators to act—and they are going to act.
-- John Banzhaf,
"They went into the conference to figure out how to file a lawsuit, not to solve the problem," Berman said. "Ben did not allow people to come to the second day of the conference unless they signed a waiver that they would not work—and do not work—in the food industry. (T)hey didn't want foxes in the henhouse."
Berman also called Banzhaf "an amazing PR machine" who claims he hasn't benefited financially from tobacco lawsuit victories and won't share in the potential spoils of a food industry lawsuit. But Banzhaf's establishment and oversight of a foundation containing nearly $4 million from tobacco lawsuit victories, which pays him a salary, proves otherwise, he said.
* Case Dismissed
"Things are not always what they appear to be," Berman said. "When you hear some of the comments here, understand there's a lot more spin than law. You just have to get on top of the spin."
Several times in the debate, both Berman and Anderson accused Banzhaf of disregarding other lifestyle factors proven to contribute to obesity, such as too little exercise, family histories and all-around bad diets.
Kelly admitted those factors do play a role, but he said that the foodservice industry still must examine whether its products and its marketing of those products also are contributing to the problem. Denying all culpability, he said, will lead the foodservice industry toward the fate suffered by the auto industry 35 years ago.
"Everybody needed cars, so there was no threat that (safety) changes would put (the auto industry) out of business," Kelly said. "The industry had a choice, and they made what I believe was a poor choice for themselves, for society, for their children and for everybody."
The result, he said was multiple, major product liability lawsuits against automakers that could have been avoided.
"If the past is a precursor, then I think we're seeing the future right here," Kelly said.
When Ryan asked Banzhaf if he thought the foodservice industry was as responsible for Americans' obesity problem as the tobacco industry is for smoking-related health problems, he said no because tobacco was proven in court to be a defective product.
However, he said there are enough similarities between the problems caused by tobacco and those blamed on restaurant food to pursue comparable litigation.
When Berman mentioned
Rick Berman, President, Center for Consumer Freedom
Banzhaf said the judge suggested that inadequate nutritional information and false advertising claims by restaurant companies could become potential liability loopholes he and other lawyers may exploit.
Berman sharply disagreed with Banzhaf's interpretation of Sweet's ruling.
"The spin on this case is far different from what the actual case shows," he said. "This was a slam dunk for McDonald's. It was a big a loss as you can get in a lawsuit."
Suggesting fast-food is addictive, Banzhaf cited an obesity study reported on this year in New Scientist magazine claiming humans, like rats tested in the study, undergo physiological changes when ingesting food high in fat and calories.
Anderson said the study proved nothing and that its conclusion that "food is addicting ... is patently absurd. It changes the whole definition of addiction. John can't make that leap from tobacco to food without some measure of addiction. I think he takes this whole study totally out of context." (The article is available at http://banzhaf.net/docs/newsci.html.)
Banzhaf's and Kelly's key problem, Berman insisted, is a belief that restaurant customers are victims rather than consumers who buy the industry's foods by choice. If consumers demand high-calorie foods in large quantities and at low prices, the restaurant industry is merely meeting market demands, he said.
They went into the conference to figure out how to file a lawsuit, not to solve the problem. Ben did not allow people to come to the second day of the conference unless they signed a waiver that they would not work—and do not work—in the food industry. (T)hey didn't want foxes in the henhouse."
-- Rick Berman,
Such logic may work with adult consumers, Banzhaf said, but a 10-year-old child can't be held accountable for bad dietary choices. And when he said foodservice operators should be held accountable not only for what they feed children, but how they market to them, Ryan, the moderator, weighed in.
"I have two children. I make the choices. I'm personally responsible" for their diets, he said.
Berman added, "You can talk about kids all day long, but kids don't drive to fast-food restaurants ... . If parents are exercising responsibility, kids are not eating there every day, three meals a day."
What's the endgame?
Kelly insisted public health groups like his don't view litigation as the sole solution to the country's obesity problem. The goal, he said, is to get foodservice companies to help customers make better-informed choices by providing them all the nutritional information available.
Such a feat is far easier said than done, however, said Berman. A restaurant menu bearing the nutritional information of every item available would have to be the size of "the Manhattan phone book," he said.
To demonstrate Berman's point, Anderson said that providing nutritional information for a mere five menu combinations at a standard hamburger outlet would result in a possible 120 combinations requiring labeling. "Fifteen items and you have 1.3 trillion possible combinations you'd have to label."
Banzhaf said no one is seeking such a detailed level of reporting. "All the major fast-food companies have this data on their Web sites. What we're suggesting is they put it up as it is on their menu boards, nothing more and nothing less."
Ben Kelly, Executive Director, Public Health Advocacy Institute
"Within three to five years, every major fast-food restaurant will have up on its menu board, at the very least, calories and fat," Banzhaf said. History shows, he added, that litigation nearly always serves as the impetus for large cultural movements, such as those for civil rights, rights for the disabled and rights for non-smokers. Consumer rights for more information from the foodservice industry will be next, he said.
"Litigation comes first, litigation makes the breakthroughs (and) generates a lot of public opinion, which puts pressure on legislators to act—and they are going to act," Banzhaf said.


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Having long considered themselves the party for business, the Conservatives are putting their money where their mouths are in regards to their pledge to support UK enterprise. It seems one of the party’s first moves to prove its mettle is to slash the red tape it feels has tied British businesses in knots. Sajid Javid, business secretary, will today pledge to trim the regulatory burden on businesses by at least £10bn over the next five years with a new Enterprise Bill aimed at fostering growth and supporting businesses in the creation of new jobs.
In his first speech since becoming business secretary, Javid is to announce that the Enterprise Bill will help to make Britain the best location in Europe both to start and grow a business. With the bill, the Tory government is aiming to create two million new jobs during the next five years in order to ensure more people have the security of a regular pay cheque.
The business secretary is also expected to announce the creation of a Small Business Conciliation Service to help resolve disputes between small business and their bigger brethren. One of the main focuses of the new service will be on helping SMEs tackle late payment practices: currently small firms are owed more than £32bn in late payments and yet many are not aware of their rights or are wary of launching legal challenges.
“Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them,” Javid said. “As Business Secretary I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs.”
With supporting businesses on the forefront of its agenda, it certainly seems the government is bringing out the big guns to help Britain’s small businesses.


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Forever 21 included diet bars with customers’ orders, sparking debate
Forever 21 included diet bar samples with some customers’ online orders, prompting an internet debate about whether or not the promotional move incited fat-shaming.
The promotion came to the attention of social media users when Forever 21 customers who bought plus-sized clothing noticed the Atkins bar included with their order.
Read more: We went shopping at Forever 21 to see why the retailer is reportedly considering a major turnaround plan
It was later revealed that the diet bar samples “were included in all online orders, across all sizes and categories, for a limited time,” according to a statement Tuesday from the clothing company. The samples have since been removed, the company said in the statement.
“This was an oversight on our part and we sincerely apologize for any offense this may have caused to our customers, as this was not our intention in any way,” Forever 21 emailed INSIDER in a statement.
Some Twitter users said the “oversight” still sends a negatively implied message, despite what items were included in the order.
Atkins said in a statement to USA Today that the brand is more so focused on a “lifestyle nutritional approach where everyone can benefit from overall health and wellbeing,” versus the weight loss element that is typically associated with their products.
“The intention of sampling Atkins products is to share snacks that taste great with optimal nutritional benefit,” the company continued in the statement.
In contrast, others tweeted appreciated the company’s marketing tactic and said they would be happy to receive a free Atkins bar with their order.
Nonetheless, not all customers ended up with a diet bar in their orders. One customer tweeted that a razor was included in the order instead.


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December 21, 2020
a2 Milk slashes revenue projections due to declining China demand
New Zealand's a2 Milk said it has cut it first-half revenue forecast because of a bigger than expected decline in informal demand from China fueled by the COVID-19 pandemic, resulting in a 25% drop in its shares, Reuters reported.
a2 Milk's new revenue outlook between July to December is NZD 670 million (~US$478.98 million; NZD 1 = US$), much lower compared to its previous NZD 725 million to NZD 775 million forecast and last year's NZD 806.7 million.
The company's shares dropped to NZD 10.49 after the announcement, the lowest since January 2019 and their worst drop since November 2008.
A significant portion of a2 Milk's revenue comes from the "daigou" channel, where shoppers from China buy goods in bulk from overseas stores and imports them informally.
But COVID-19 related restrictions in Australia's Victoria state had pressured retail sales and affected its daigou network. The company also said fewer Chinese tourists and student arrivals have also hampered recovery.
a2 Milk cut its full-year revenue guidance range to NZD 1.40 billion to NZD 1.55 billion. Its previous estimate was NZD 1.80 billion to NZD 1.90 billion.


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Many small-business owners don't understand social media, and American Express Co. is making increasing efforts to instruct them in the best uses of such sites. A focus of Amex’s efforts is its forum on LinkedIn, where bird-supply vendor Mitch Rezman participates.
More than 5,700 members belong to the forum, called Business Knowledge Share, and membership has doubled since the company touted its first small-business social-media tutorial there Jan. 26, an Amex spokesperson said via e-mail.
Rezman, a vice president at a Chicago company that sells supplies over the Internet for owners of exotic pet birds, says that so far he has brought more knowledge to the group than he has received.
"It's a bit like being a coal-miner; I ask all these questions and occasionally I get a nugget of information," Rezman says. Many of Rezman's questions on the forum go unanswered, he says.
The Amex brand, by itself, isn’t what attracted him.
"Personally I hate American Express … but if they're pushing something like social media for business, there must be something to it," Rezman says.
Amex is working hard to improve its image with small-business owners like Rezman.
The New York-based card network in recent months launched a series of free online videos and tutorials to help entrepreneurs figure out how to use social media. The first of three basic how-to guides in Amex's Social Media Show & Tell Series aim to demystify Facebook and foursquare; the latest entry, launched July 31, has an emphasis on Twitter.
However, the best social-media lessons Rezman has learned so far came from his personal trial and error.
Rezman's company, WindyCityParrot.com, has had a Facebook fan page for three years. Until recently, it yielded little business for him, he says.
That changed this year when Rezman began experimenting with Pinterest, a social networking site built around sharing photos. In July, he posted photos of baby egrets on Pinterest, and after linking that account to his company's Facebook and Twitter feeds, visitor traffic to all of the bird-supply shop's social media sites "shot up," he says.
Rezman estimates that simply posting intriguing bird photos on Pinterest resulted in 30 orders that generated $1,400 in sales, "and it only took me a few minutes while I was watching TV at night."
When he uploaded his most popular Pinterest images to the shop's Facebook page, his Facebook comments soared.
"Within 96 hours of connecting Pinterest to Facebook I went from 124 people talking about my site to 1,500 people commenting on it," Rezman says.
The shop routinely spends approximately $90 a month on Facebook advertising that results in about $1,000 in sales a month, Rezman estimates.
But traffic volume to his various social media sites varies wildly, so it is difficult to predict results, he notes.
Providing free advice on how to use social media is sure to lure many merchants, because most small-business owners "are very curious and floundering around" with Facebook and Twitter, Brian Riley, research director with CEB TowerGroup, said in an interview.
Amex obviously hopes to use entrepreneurs' interest in social media and other business tools as a way to strengthen its brand among the small-business owners that may want its products, Riley says.
But whether many small-business owners are actually using social media to drive higher revenue is unclear, Riley adds.
"There's no question that social media is the great buzzword of the decade and everybody wants to get into it, but … if the social media business model were easy to figure out, (the stock price) of Facebook would be ahead of its IPO price," he says.


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UFC to launch MMA fan token on Chiliz blockchain
The Ultimate Fighting Championship, the world’s largest mixed martial arts association, is launching its own blockchain-based fan token.
The UFC officially announced on Tuesday that it will be launching a UFC Fan Token on fan engagement and the Socios.com rewards app. Minted on the Chiliz blockchain, the token is slated for launch in June and will have a maximum supply of 20 million tokens.
Similar to other Chiliz and Socios Fan Tokens, the UFC Fan Token is designed to enable new fan engagement opportunities such as access to exclusive content, fan voting, VIP rewards, promotions, contests and the like.
“The UFC has over 625 million fans around the world, and Fan Tokens are a unique way to connect with them through a compelling and authentic product that brings them closer to the UFC and gives them influence. while rewarding their passion for the sport, ”Tracey Bleczinski, UFC senior vice president of global consumer products, said.
Alexandre Dreyfus, CEO of Chiliz and Socios mentionned that UFC tokens will be exclusively available on the Socios app, with no presale anywhere else.
UFC and Chiliz first announced a collaboration last year to allow UFC fans to use Chiliz’s native CHZ token for experiences and rewards. The UFC recently expanded its movements in the blockchain and crypto industry, signing an exclusive partnership with online bookie Stake.com in March 2021.
The UFC is one of the first sports properties in the United States to launch a fan token using the ecosystem of Chiliz and Socios, marking a milestone for their global expansion. The news comes two months after Chiliz announced a $ 50 million expansion plan for the United States.


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The iPhone may have opened the door for Apple in the enterprise, but it was the one-two punch of the iPad and revamped MacBook Air in 2010 that really did the trick, an analyst said today.
The result: An end to Microsoft's long-running monopoly in the enterprise.
[ InfoWorld's Galen Gruman says that when it comes to business mobile, the data shows it's an Apple world. | Keep up on the day's tech news headlines with InfoWorld's Today's Headlines: Wrap Up newsletter. ]
"If you do an inventory of the devices people use for work by operating system, not just those used at work, there's already a significant share of devices that are not Windows," said Frank Gillett, an analyst at Forrester Research.
"More than a quarter of those devices are running something other than Windows. And what with it taking Microsoft years to drive Windows Phone, and the upcoming Windows 8 'Metro' interface beyond that, and how hard Apple and Android will push back, it's the end of Microsoft's monopoly for devices used for work," Gillett said.
"That lock, that's over and done with. We're in a heterogeneous environment due to the increase in use of mobile devices, hardly any of them Windows, and a dramatic increase in using technology at home or out of sight of enterprise IT," Gillett added.
According to Forrester, which polled more than 13,000 employees and IT personnel in 17 countries, more than one in five enterprise workers now use an Apple device -- often one they purchased themselves.
Gillett stressed that the survey didn't just look at what was used on the office premises, but what was used for work, no matter the location.
"This is about workers using Apple products for work, regardless of where they do so, which in many cases is in the home or at least out of sight of IT," Gillett said.
He called Apple's enterprise strategy "non-traditional," as a way to differentiate it from the route that, for example, Microsoft takes by building in features and creating management tools specifically for business.
"Do they have a traditional enterprise strategy? No, but they have a focus on the individual by making products that delight end users. Further, when they do support enterprise IT, such as with their support for Exchange [on the iPhone], they do it in a way that doesn't make [users] run to IT for support."
Forrester's survey showed that 15 percent of the polled workers use one Apple-branded device at work, while another 6 percent use more than one of the iPhone, iPad, and Mac trio, for a total employee share of 21 percent.
More of those polled -- 11 percent -- said they used an iPhone than either an iPad (9 percent) or a Mac (8 percent).
But Gillett attributed the jump in Apple device usage among workers to the latter pair, not the iPhone.
"Before the iPhone, Apple in the enterprise was all about the Mac, but when the iPhone showed up [in 2007] it cracked the door open," said Gillett. "But it was the [refreshed] MacBook Air, combined with the iPad, that really created a whole reshift of how to look at business use of devices.
Those two events -- the debut of the original iPad, and the revamp and price drop of the MacBook Air -- both occurred in 2010.
Gillett cited the usability of the MacBook Air -- particularly its ability to instantly awaken from sleep -- its thin and light form factor, and oddly enough, its pricing as reasons for its success among enterprise workers.


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Olivetti has teamed with major telecoms companies in a bid to grab market share before EU deregulation in 1998.
The company has signed deals with France Telecom, US companies Video West and Bell Atlantic, but faces a dilemma over earnings from PCs, services and phones.
Martin Bangemann, EU commissioner for telecoms competition, is responsible for ensuring deregulation happens.
A source said: 'Last year Olivetti earned 1.7 per cent from telecoms.
It has consortia formed, but it will not get licences until 1998.' PCs accounted for 13.7 per cent of earnings, office products 20.4 per cent and services 50.8 per cent.
'EU deregulation will happen in 1998 and the UK will be the model,' said Adrian May, a consultant at market research firm Ovum. 'They're liberalising in Europe like they did in the UK 10 years ago.' That has to happen by 1998.
We weed out the key information from the networking giant's Q1 numbers
CRN's Women in Channel role model Logicalis COO Natalie Matthews explains the impact of mentorship, 'imposter syndrome' and why the channel has to do a better job at selling the industry to young people
Mohit Aron claims Cohesity is having the same impact on the back-up market as the smartphone on its own space, while taking shots at the likes of Veeam
Outsourcer says the size of the operation should be considered before criticising the error that affected 43,000 women


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© TTM Technolgies PCB | April 20, 2020
TTM completes sale of mobility business unit
TTM Technologies has completed the divestiture of its four China manufacturing plants comprising substantially all of the assets of its Mobility business unit.
The Buyer is AKMMeadville Electronics (Xiamen) Co., Ltd., a Chinese consortium consisting of Meizhi Investment (Xiamen) Co., Ltd., Xiamen Semiconductor Investment Group Co., Ltd., AKM Electronics Industrial (Panyu) Ltd., and Anmei Ventures (Xiamen) Equity Investment Partnership (Limited Partnership) (Anmei). The transaction is an important step in advancing TTM’s stated strategy of increasing its focus on growth markets characterised by long product cycles such as aerospace and defense, automotive, medical, industrial, instrumentation and networking/communications that more fully leverage TTM’s early engagement capabilities and industry leading differentiated solutions, while decreasing its focus on seasonal, consumer-oriented markets such as cellular. “I am very pleased to announce completion of this transaction even as the health and economic risks for the global economy related to the coronavirus (COVID-19) have escalated over the past several months,” says Tom Edman, CEO of TTM, in a press release. “We expect that the remaining TTM business will be less seasonal and will benefit as we serve longer cycle markets that better fit our strategic direction. We remain excited about the anticipated growth opportunities in 5G infrastructure, cloud data centers, aerospace and defense electronics, and increasing automotive electronic content. Finally, the cash proceeds from this sale will further strengthen our balance sheet during a period of global economic uncertainty and provide capital capacity for future growth investments.” The transaction is structured as the sale of TTM’s Mobility business unit consisting of its four China manufacturing plants on a debt free, cash free basis for a total of USD 550 million in cash, subject to working capital adjustments at closing. Net proceeds from the sale of these four plants are expected to be deployed to invest in the business or reduce our debt. In the fiscal year 2019, the Mobility business unit generated revenues of USD 556 million, non-GAAP operating income of USD 14.8 million and adjusted EBITDA of USD 90.5 million.1


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The American Rental Association expects total equipment rental revenue to reach $38 billion in North America, according to the latest figures released from its ARA Rental Market Monitor service. The figure represents a 6.2-percent increase compared to 2012 with fourth-quarter revenue growth projected to be 7.1 percent.
The figure includes the construction/industrial segment, as well as general tool/DIY and party/special event. In the U.S. alone, ARA projects equipment rental to grow 6.5 percent to $33.3 billion.
“The general economy in the U.S. has slowed down slightly this year with the gross domestic product now forecast to grow 1.5 percent in 2013,” said Christine Wehrman, ARA’s executive vice president and CEO. “That means equipment rental industry revenue continues to grow at more than four times the general economy. The industry remains vibrant, strong and will benefit even more in the coming years due to nonresidential growth, supplemented with residential construction growth and the strong influence of the energy boom in North America. We expect revenue in the U.S. to grow 8.4 percent in 2014 and 11.3 percent in 2015.”
ARA’s North American Economic Analysis provided by IHS Global Insight projects revenue growth to accelerate in all segments through 2015 before leveling off in 2016 and 2017. The general tool segment will show the highest compound annual growth rate at 10.1 percent over the five-year forecast while construction and industrial equipment revenue is forecast to see a CAGR of 7.8 percent between 2013 and 2017, IHS said.
The construction market and consumer spending are expected to be the most important drivers of growth of the equipment rental market in 2014. According to the U.S. economic analysis from ARA Rental Market Monitor and IHS Global Insight, the U.S. equipment rental market will continue its upward trajectory and show strong growth through 2017. They project the construction and industrial segment to grow 9.1 percent in 2014 and 10.5 percent in 2015.
The U.S. general tool segment is expected to grow 7.9 percent in 2014 and 15.5 percent in 2015. ARA forecasts party and event rental to benefit from continued improvement in consumer spending with rental revenue to show a 3.2-percent CAGR over the five-year forecast to 2017.
Total equipment rental revenue is expected to grow at a CAGR of 8.6 percent between 2013 and 2017, exceeding pre-recession totals in 2015 and reaching $46.3 billion in 2017.
Scott Hazelton, senior partner with IHS Global Insight said the U.S. economic expansion, after a slowdown in the third quarter this year, will pick up in 2014 with homebuilding to surge through early 2016. He added that the North American energy boom will continue to create jobs, investment and a competitive advantage in manufacturing. Investment in equipment by rental companies will grow in 2014, Hazelton said, and will surpass $14 billion in 2015.


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China’s Huawei has reported a 40 percent rise in its first half revenues for this year, reaching RMB245.5 billion (USD36.8 billion).
However, the operating margin fell to 12 percent from 18 percent in the previous half-year.
“We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations,” Chief Financial Officer Sabrina Meng said in a brief statement.
“We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence,” Meng said, referring to the company’s telecom, consumer device and enterprise business segments.
The company has set a target of USD75 billion in revenues for 2016.


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Reliance Jio Chairman Mukesh Ambani’s strategy to offer a cheap 4G handset with VoLTE capability for voice calls will reverse the recent decline in operator revenue in the Indian telecom industry, says Fitch Ratings.
Reliance Jio, a subsidiary of Reliance Industries (RIL), is likely to gain revenue market share as the new 4G phone JioPhone allows it to attract first-time 4G users, according to Nitin Soni at Fitch Ratings.
Investment banking firm Jefferies said the launch of JioPhone in September 2017 will fuel additional Capex (capital expenditure) by established telecom operators such as Airtel, Idea Cellular, Vodafone, BSNL and Reliance Communications in order to expand coverage in rural areas.
Reliance Jio’s newly launched JioPhone aimed at over 50 crore feature phone users will pose a stiff challenge to incumbents to protect their subscriber market share, investment banking firm Jefferies said.
Since Jio’s voice offering is based on VoLTE, Jio phone will enhance coverage. This will lead to high speed Jio network in remote areas, which the 2G and at best 3G network footprint of the incumbents will struggle to compete against.
Jefferies said the monthly plan compares favorably against the blended ARPU (average revenue per unit) of top three incumbents, but it does provide a cap. Pricing, which is not disruptive, will still be a stiff challenge to incumbents to protect their subscriber market share.
The company is targeting shipments of 5 million phones a week. The monthly plan for Rs 153 would offer unlimited voice/SMS and 0.5GB of data per day. There are two sachet plans for Rs 24 and Rs 54 with validity of two and seven days respectively.
While refundable, the cost of acquiring the device is not game changing when compared against existing feature phone prices. The Rs 153 per month plan too compares favourably against the Rs 142-158 ARPU across Top-3 but does create a cap.
Fitch Ratings said JioPhone handset is likely to quickly replace 2G handsets in rural areas, where smartphones had previously been out of reach for many potential customers.
The VoLTE phone will be available for a $22 deposit – which will be refundable after three years – compared with a price of at least $60 for existing 4G smartphones, according to Fitch Ratings.
Internet-adoption rate in India is among the lowest in Asia-Pacific, owing largely to low smartphone affordability and a lack of fixed-broadband networks in rural areas. Most of the 95 percent of the India’s 422 million internet subscribers were on phones as of end-March 2017, according to the Telecom Regulatory Authority of India (TRAI).
The cheap 4G handset with VoLTE capability would add 3 percent-4 percent or around $950 million to annual industry revenue if adopted by at least 100 million subscribers, which appears likely.
Industry-adjusted gross revenue is likely to increase in 2018, after the quarterly industry revenue declined by 15.6 percent y-o-y to $6.1 billion in the quarter ending March 2017. Increased data consumption and a rise in average spending per user will drive revenue growth.
The monthly tariff on Jio’s 4G phone of $2.3 is more than 50 percent above the current average revenue per rural user, most of which are on 2G phones and consume minimal data.
Jio is likely to boost its revenue market share from 3 percent – 4 percent to more than 10 percent in 2018.
“We expect most of the increase to come from new revenue generated by the expansion of the 4G market. The higher monthly tariffs that Jio is charging on this handset are likely to limit the impact on the revenue market share of incumbents such as Bharti Airtel,” Fitch Ratings said.
“Incumbents might also see some benefits to the extent that Jio’s strategy increases adoption of 4G and helps develop India’s smartphone culture – raising data usage and average spending across the market,” Fitch Ratings said.
Reliance Jio already reached 89 million active subscribers in May 2017, bagging 8.7 percent share of active subscribers. Revenue market share of Reliance Jio is lower, as it has so far competed on an aggressive pricing strategy.


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If you're like Gary Busey and enjoy talking to things such as your Amazon Fire TV, you'll be pleased to know Amazon has added new voice search partners to their still fresh set-top box. Hulu Plus, Crackle, and Showtime Anytime are joining VEVO in integrating their full catalogs into Fire TV’s unified voice search.
“We’re excited and energized by the momentum we’re seeing with Fire TV,” said Dave Limp, Vice President, Amazon Devices. “Customers are telling us they love it, developers are building for it, and we’re working hard to expand existing features and build new ones. We’re thrilled to have Hulu Plus, Crackle, and SHOWTIME integrating their full selection of movies and TV shows into Fire TV’s unified voice search.”
On top of that, Amazon took the time to note a few other things that are coming for the Fire TV as well. Game selection will be expanding and soon, you will be able to play touch-enabled games with the upcoming Fire TV app for your phone or tablet. Amazon FreeTime and Amazon MP3 integration is coming as part of a free, over-the-air software update and finally, Prime browse will make it even easier to discover movies and TV shows that are included in Prime Instant Video.
We've already ran through a full review of the Fire TV and one pain point we had with it was that the universal search wasn't as good as it could be, so it's nice to see Amazon is still improving that. Aside from all that, it seems Amazon didn't give up all the goods on release either. This announcement shows they're still looking to add more in hopes to make their set-top box the only one you need. The new additions will start rolling out this summer.


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Of George Lampiris
This is a development that radically changes the data in the Greek meat market, as according to exclusive information, the strategic cooperation between two countries and one of the largest companies in the processing and marketing sector was recently completed.
According to the same information, Floridis AEVEK, which has cooperated with all the Greek supermarkets in Greece, including Lidl, The Mart, Sklavenitis, Masoutis, AB Vassilopoulos but also with a large number of butchers, has enter into a partnership with Nasopoulos Bros., which is also a key feeder for many meat companies and supermarkets in the Greek market.
Through this partnership, a new joint company will be created with the participation of both business families.
In fact, for this purpose, the two companies have acquired a land area of 11 acres in the area of Eleonas, where a new production unit will be created with a total area of 25,000 sq.m. This information is confirmed by sources close to the agreement.
This development was formally completed after the departure from Floridis AEVEK, of one of the two brothers and one of the main shareholders, Giannis Floridis, with the acquisition of his stake by his brother Charalambos Floridis.
It is pointed out that before leaving the company, G. Floridis held the duties of vice president and managing director. According to the report at our disposal, the two brothers and participants had major disagreements with each other in recent years, which led to this move and the decision to follow separate paths.
At the same time, Dionysis Nasopoulos, managing director of Nasopoulos Bros., participates in the administrative affairs of Florida AEVEK as managing director, while Charalambos Floridis, on his part, holds the position of president of Nasopoi Bros.
The partnership of two companies with a total turnover of over 150 million euros
The partnership of the two companies brings synergies between two entities where Florida AEVEK had a turnover in 2021, amounting to 87 million euros with net profits after taxes of 4.58 million euros, from 83.7 million euros in sales in 2020 and net profits after from taxes of 1.4 million euros.
Respectively, Nasopoulos Bros. had a turnover of 65.78 million euros in 2021, from 57.29 million euros in 2020 and its net profit after taxes was 3.47 million euros compared to 400.6 thousand euros in its fiscal year. 2020.
It is noted that the largest player in the Greek meat market is Voudouris – Konstas – Meats Attica, with a turnover of 93.92 million euros in the last published fiscal year 2020 and net profits after taxes amounting to 1.13 million euros.
Newly established company by the retired Giannis Floridis based in Kryoneri
At the same time, the departed, Giannis Floridis, proceeded to the establishment of a new company, with the name Floridis Meats SA, which is based in Kryoneri, Attica, a move which was completed formally with the establishment of this company, at the end of last May.
Apart from Giannis Floridis, his three children, Konstantinos – Marios, Vasiliki and Anna, also participate in the newly established company. In fact, the businessman has acquired the old facilities of the meat industry Thrace (former Piggy SA of the Spentzou family), in order to invest in the development of new industrial meat processing facilities.


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“The significant number of people across all demographics participating in sports and recreational activity, coupled with the increase in consumer self-care will continue to drive sales growth of our new and innovative Sports Therapy/1st Aid products,” said Brendan Leonard, president at Health Enterprises.
According to the American Academy of Orthopedic Surgeons, 50% of children between the ages of 8-16 compete in organized sports programs. However, the number of people engaged in physical activity is not limited to the young, the Consumer Products Safety Commission recorded a 54% increase in sports injuries among consumers age 65 and older during the past five years.
“This research helps explain the overwhelming positive reaction to our Sports Therapy/1st Aid ranges,” commented Mr. Leonard. “We look forward to expanding distribution for these items and building on that momentum with more innovation in 2013.”
Health Enterprises, Inc. is a leading manufacturer of branded and private label OTC consumer healthcare products sold in retailers across the globe. For more information about Health Enterprises and its complete product line, visit www.healthenterprises.com.
Visit us @ MEDICA – Hall 16/ Booth D40-6


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The new head of Cadillac, Johan de Nysschen is already making big changes at the brand's owner, General Motors according to Forbes. De Nysschen was named president in August and is shifting the auto manufacturer's structure to make Cadillac a separate business headquartered out of New York.
The move was announced Sept. 23, and is touted as part of the expansion of the Cadillac brand. By becoming a separate unit of GM, Cadillac can better focus on the luxury auto market, according to Cadillac's statement.
"With the relentless upward repositioning of successive new-generation Cadillac products, the next logical step is to provide Cadillac more freedom to cultivate the brand in pursuit of further global growth," said GM President Dan Ammann.
What's really moving?
The Soho location will be responsible for oversight of all global Cadillac operations, including the operations in more than 40 countries. However, the technical product development teams and manufacturing facilities will remain located in Michigan.
"We are very proud of our Detroit roots and heritage, and the majority of the Cadillac workforce will remain in Michigan," said de Nysschen, according to the company statement.
How does this affect consumers?
For people who already own a Cadillac, nothing will change - their costs including loan payments, auto insurance and maintenance will remain the same. However, the consumers the company targets as its customer base will evolve. De Nysschen has made it clear he wants to shoot for high-end customers to really push into the luxury market, Forbes reported.
Don't sound shocked
GM and de Nysschen's expansion of Cadillac is supported by the brand's recent growth. In 2013, Cadillac's portfolio grew 28 percent and so far in 2014, it's grown approximately 10 percent, according to the statement.
The relocation shouldn't come as too much of a surprise because de Nysschen made a similar mov when he worked with Nissan. In that case, he moved Infiniti to new and separate headquarters in Hong Kong, Auto Blog reported. This is also exactly the bold move GM was looking for when hiring de Nysschen, according to Forbes. De Nysschen helped improve Audi of America's brand and after attempting to build up Infiniti, accepted GM's offer to boost Cadillac.
Other big changes
De Nysschen and GM have created a Cadillac leadership council, according to Forbes. The group consists of de Nysschen himself, Chief Marketing Officer Uwe Ellinghaus, Chief Financial Officer David Colasinski, Executive Chief Engineer David Leone, Executive Director of Design Andrew Smith and Vice President of Sales and Service Jim Bunnell.


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AS I MENTIONED EARLIER, I've done all my Christmas shopping so far right here, though I may venture to the mall today. The InstaWife, who's never shopped online in previous years, decided that she didn't feel well enough to go shopping and bought everything from Amazon, too.
I think that this is a trend, as I'm hearing the same from others. And here's some support:
Web sales doubled to $133 million on Thursday, Thanksgiving, from a year earlier and surged 40 percent to $250 million on Friday, according to ComScore Networks, an Internet researcher.
Chuck Davis, president of Shopzilla Inc., a Los Angeles- based operator of a site where shoppers compare prices, said more people with faster Web connections at their homes helped spur the increase, as did consumers wanting to avoid crowds.
``At a time when gasoline and traffic are at record levels, the convenience of online saves time, which is priceless,'' said Davis in an interview. ``Our Shopzilla sales shot up very heavily on Friday and Saturday.''
Traffic, etc., is worse every year. Or maybe not, soon, if more people are shopping online.


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67-year-old luxury men’s apparel brand Harry Rosen prides itself on the relationships its store stylists build with shoppers. But with its 14 Canada-based stores shut for more than five months now, Harry Rosen needed to get creative to keep those relationships alive. It’s now relying on text messages, web technology and virtual appointments to connect with shoppers on a personal level, says Ian Rosen, executive vice president, digital and strategy for the retailer.
Harry Rosen, which generates around $300 million in annual sales, says ecommerce sales nearly tripled in 2020 over 2019, and online sales accounted for more than one-third of sales in 2020, compared with 7% to 8% the year before. “Online is picking up some of the slack from stores being shut, but not all of it,” Rosen says.
To further drive web sales growth, Harry Rosen in May 2020 launched virtual appointments using scheduling software from Jrni. Shoppers book an appointment through the retailer’s website and use the Jrni platform to start a video chat via their browser without having to install any software, Rosen says. The retailer’s approximately 400 store clothing advisors today conduct on average about one appointment per day, and Harry Rosen employs a team of five full-time clothing advisors who take appointments all day, Rosen says. Shoppers also have the option pick a store stylist they have worked with before for their virtual appointments, Rosen adds.
As COVID-19 has worn on, these appointments have “increased profoundly,” Rosen says, noting that the average number of appointments per week has far more than doubled since May, without being more specific.
Harry Rosen was already in talks with Jrni before the pandemic to launch virtual appointments, but it accelerated the project when COVID-19 hit, Rosen says, launching a more simple version that isn’t as polished or branded as originally planned to get to market quickly. Through Jrni, shoppers also can book an in-home appointment, if they are comfortable, and they will be able to book in-store appointments when shops open back up, Rosen says.
Jrni’s platform facilitates both video and in-person appointments, and it integrates with customer relationship management systems such as Salesforce.com Inc. and calendar systems such as Microsoft Corp. It also provides analytics such as conversions and sales from appointments. The software enables businesses to cancel, reschedule or view appointments. Associates also get an at-a-glance view of their virtual and store appointment calendars, as well as insight into the customers they’re scheduled to see, such as their order history and past communications with the retailer. Jrni also handles automated appointment confirmation emails, email reminders and follow-up communications.
Beyond video consultations, Harry Rosen also has a robust text message-based consultation program, Rosen says. Harry Rosen invested “heavily” in that program, which launched in August 2019, and has added more functionality since the pandemic, such as saving shoppers’ color and size preferences. The text message program is a way for repeat and loyal store shoppers who have developed a rapport with Harry Rosen’s store clothing advisors to continue their shopping relationship with them despite stores being temporarily closed.
The program allows advisors to text with their clients about preferences, gather info, such as past orders, and build curated looks that shoppers can add to their cart with one-click. Then, using an app on their phone, advisers build curated looks and provide links to clients to access their personalized page where they can add some or all products to their cart (with sizes and colors pre-selected) and purchase. Harry Rosen uses Bold Commerce for the shopping cart portion of its program.
Advisers earn a commission through these appointments as they would through store appointments, the retailer says. “It’s less of an appointment and more of an outcome of a relationship,” Rosen says. “If my store advisor has always been Jeremy and Jeremy knows my size and preferences, it lets me digitize that relationship with him,” Rosen says.
The text message program now accounts for between 10% and 15% of weekly online sales, compared with 2-4% before COVID-19, Rosen says. Virtual appointments have helped Harry Rosen’s store employees continue to bring in sales while shops are closed, Rosen says. “At the beginning of COVID, we had to send all store employees home. With these appointments, they are still able to be productive,” he says.


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Apple (AAPL) - Get Reportreported a solid beat after Tuesday's close amid low expectations, with fiscal third-quarter (June-end) earnings per share of $1.42, beating consensus by 4 cents, revenue of $42.4 billion modestly beating Street consensus of $42.2 billion and iPhone units of 40.4 million topping the Street's 40 million consensus. Management's September-end (fourth quarter) sales guidance of $46.5 billion at the midpoint beat the Street's $46 billion and buy-side whisper expectations for $44.5 billion. (Apple is part of TheStreet'sAction Alerts PLUS portfolio.)
Shares surged in after-hours trading Tuesday in what appeared to be a relief rally predicated on "better than feared" results along with $6 billion (+20% year over year) increase in Services revenue and better-than-expected growth in both iPads and Macs.
We are excited, albeit somewhat surprised, by the after-hours reaction, which we believe is being driven by a combination of solid results amid low expectations. We have always told members to own, not trade, shares of Apple and after listening to the company's conference call, our message remains unchanged. We would encourage members who own the name to stand pat for now -- we would be neither buyers nor sellers into the rally -- as investors and analysts alike digest the matrix of information, color and data.
We are encouraged by what has the makings of momentum in high-profit, high-growth and highly predictable recurring revenue streams, most prominently the company's Services business, which includes iCloud, data usage, App Store (and associated licensing/royalties), along with Apple Music, Apple Pay and Apple Care.
In an interview with CNBC following the release, CEO Tim Cook claimed the Services business alone will be the size of a Fortune 500 company by this time next year (when asked if that means $28 billion, the smallest of the Fortune 500, Cook indicated it would be much higher). We expect Services to comprise one-third of the company's profits within the next three years, and view the stronger-than-expected iPhone unit sales as a sign the momentum is sustainable.
Within the all-important iPhone sales figures, strength in terms of units sold (40.4 million) was driven largely by outsized demand for the company's cheaper iPhone 6 SE, which weighed on the average selling price (ASP) per unit of $594 from $642 in March. Apple hopes to boost ASPs through its September iPhone 7 launch, which it expects will drive upgrades (250 million phones in circulation are made up of pre-iPhone 6 versions).
Despite the margin drag, sales of the SE are likely reasons why Apple managed to drive such remarkable sales growth in emerging markets such as India, which saw a 51% year-over-year increase in iPhone sales, Japan (+23% year over year) and an acceleration in both Brazil and Russia, with sweeping strength in these markets a result of customer switching activity (according to Cook, Apple experienced record switching rates during the June quarter, as a flood of Android users migrated to the iPhone).
It appears the better-than-expected guidance for fiscal fourth quarter 2016 comes as a direct result of the high switching rates as Apple takes more share from Samsung.
Thus is the delicate balance between reeling in new customers by offering a slimmed-down, cheaper version of the iPhone (SE in this case) and protecting against margin deterioration. During the call, Cook explained that while the potential market share opportunity from Android users remains significant (having tapped into merely 42% of global smartphone users), the remaining 58% are very cost-sensitive and unlikely to switch in the absence of a cheaper offering to follow each new iPhone launch. Ultimately, Apple has decided that any cannibalization as a result of SE sales is outweighed by the potential to expand Apple's total addressable market.
Although we continue to dig into the results and color, we believe the solid results and subsequent rally demonstrate the undervalued nature of Apple shares -- ranked as a top-three value in our investment index since inception -- which trade at roughly 11x earnings, not including cash. We will be out with incremental analysis but in the meantime appreciate the improving backdrop, diversified revenue stream and stabilization in growth, all of which contribute to the post-market action.
Editor's Note: This article was originally published at 8 a.m. EDT on Real Money on July 27 after being sent to Action Alerts PLUSsubscribers on July 26 at 7:04 p.m. EDT.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held a position in AAPL.


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Combining data from multiple sources to get a clearer picture of each individual customer and act on those real-time insights is challenging.
IBM and Adobe have expanded an existing partnership that will integrate the company's artificial intelligence-powered weather data from The Weather Company, an IBM Business, into the Adobe Experience Platform.
Sheri Bachstein, CEO at The Weather Company and General Manager of IBM Watson Advertising, believes thatsince weather data proves to be a predictor of consumer behavior, further expanding the company’s relationship with Adobe provides the ability to create individualized experiences.
Adobe plans to leverage Weather Channel data as part of its Digital Economy Index as well, exploring how weather patterns affect online spending and other trends in e-commerce. The product lets Adobe Experience Platform customers gain new AI-driven insights on how weather can affect consumer purchase habits across different categories such as retail, healthcare, travel and hospitality, and consumer packaged goods.
Brands will have access to the data, in theory, to gain a better understanding of how customer behaviors may shift in response to forecasted weather changes.
IBM has committed $1 billion to support partners that help their customers migrate workloads using the company’s open hybrid cloud architecture.


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There's no denying that the release of new Android phones has been – and we're putting this mildly – much slower than expected. But it looks like the MID market is picking up, and now comes word that MSI, best known for its internal hardware and now for its Wind series of netbooks, may be getting into the Android game.Digitimes [via Engadget] reports that an Android-based netbook may make an...
Portions of this page are modifications based on work created and shared by the Android Open Source Project
and used according to terms described in the Creative Commons 2.5 Attribution License. AndroidCentral is an independent site
that is not affiliated with or endorsed by Google.


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The line between conversational content and advertising is blurred, if not gone altogether, thanks to the rise of social media. But perhaps even less clear than the goal of the content is the question of who will ultimately control the revenue from social media advertising.
A recent Ad Age article wonders who will ultimately end up controlling the massive amounts of money at stake in the social media advertising game. Paid social media promotion is coming whether agencies, old-school and new-school alike, are ready for it. The reality is that in order to capitalize on social media integration in advertising, only the companies that truly understand social and business will be able to adapt.
In this video, we discuss the changing world of social media advertising, and who could be best positioned to jump on it.


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A video game due to be launched this week that would have featured Spiderman atop a New York skyscraper resembling the World Trade Center will be edited to have that scene removed and released later, publisher Activision Inc. said on Monday.
THE SANTA MONICA, California-based company said it was postponing the launch of "Spider-Man 2 Enter: Electro" for Sony Corp.'s PlayStation console, out of respect for the victims of last week's attacks on the World Trade Center. "Activision is being extremely cautious about any images in our game that might be mistaken for the twin towers," Chief Operating Officer Ron Doornink said.
The game had been set for release on Tuesday, but will now be changed to alter backgrounds that might look like the destroyed buildings. While no new shipping date has been set, the game will be available in time for the holiday season and the delay will not affect Activision's financial results, Doornink said.
News source: msnbc.com (Ed -Heh game news there, whatever next?)


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Tikkurila headquarters in Vantaa, Finland, has moved to Heidehofintie
May 13, 2019 09.00 a.m. (CET +1)
Tikkurila Oyj headquarters in Tikkurila, Vantaa, moved to new premises in early May.
The new headquarters on Heidehofintie in Tikkurila, Finland, is located about half a kilometer from the previous address. Tikkurila’s R&D, as well as the factories and training center, continue in their current locations on Kuninkaalantie.
The office premises were renovated using Tikkurila’s own products. The color scheme for the premises was designed by Tikkurila’s color expert taking into account the new materials, which were harmonized with the furniture taken along to the new premises to create a unified entity. Floor surfaces were refreshed using the new Cozy Floor solution, and meeting room wall surfaces were touched up with Tunto texture coating in different colors.
"The new premises support a unified high-performance culture and provide us with the opportunity to renew our daily way of working. The functional office space ensures that working is effective and consistent with our corporate culture and values," says Jari Lassila, who was responsible for the moving project.
The new visiting address for Tikkurila headquarters is
FI-01300 Vantaa, Finland
The postal address remains the same: Tikkurila Oyj, PO Box 53, FI-01301 Vantaa, Finland.
Jari Lassila, Vice President, Strategic Projects, tel. +358 40 526 0685, firstname.lastname@example.org


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Carphone Warehouse have revealed their christmas lineup of new devices (or at least some of them) and they include some pretty nice additions.
- The HTC Desire will be available in white as an exclusive as well as still offering the existing colour of the handset
- Alcatel OT-980 Android slider (announced at MWC) will be £129.99 on Pay As You Go
- Samsung Galaxy Tab available in November, no news on pricing yet
There are some other devices on the list from Nokia such as their N8 and of course you can still expect to see some other new devices on the list, including ones which could be announced next week by HTC?
Link: Mobile Today


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When the C8 Corvette arrived last year, expectations for the sports car changed across the globe. No longer holding onto the traditional front-engine rear-drive layout, it was clear this car was designed to be a step on from Corvettes of the past. Shortly after its global debut, the C8 proved that it was indeed a new breed of sports car by taking home MotorTrend’s coveted 2020 Car of The Year award. As 2020 comes to a close however, the C8 Corvette Stingray Z51 found itself battling for yet another MotorTrend award: Best Driver’s Car.
The folks over at MotorTrend have uploaded video clips of each of the contests hot laps around the legendary Leguna Seca. As is normal for the publication, professional hot-shoe Randy Pobst was tasked with putting each of the cars through their paces. When it came time for the C8 to make its run, Pobst had quite a few nice things to say about the car. Most notably, Pobst found the new 2020 Corvette Z51 to represent a massive step forward for the brand. The racing driver noted that the Corvette Stingray features world class handling for the first time in its run, and even likened the new DCT to the industry-favorite PDK gearbox from Stuttgart. The Corvette and the Porsche 911 Turbo S were the only cars at the competition that didn’t arrive with R-compound rubber, but that didn’t stop Randy from getting a seriously quick time out of the C8. His fastest lap around Laguna Seca ended up being a 1:37.83.
For comparison, Randy Pobst previously ran a 1:38.28 in a C7 Corvette Stingray Z51, the prior equivalent to this car in the hierarchy. While a few tenths of a second may not seem like a massive step on, Pobst made his preference for the C8 Corvette known. That said, the C8’s time doesn’t look as impressive when stacked up against the 760 horsepower Mustang GT500, which was able to run a 1:33.84. It just goes to show you what a few hundred horsepower are worth down the long straight.
Despite the C8 Corvette earning high praise during its campaign, it wasn’t quite enough to take home the prize. That honor was bestowed upon the Lamborghini Huracán Evo, which carries a base price of $208,571. That said, this C8 Z51 is just the first of the new line of Corvettes. With the high-performance Z06 just around the corner, General Motors may just come back with a vengeance.


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Although much of the world is still in an effective depression due to the reaction to COVID-19, there are augurs of a very different economy on the horizon. In particular, the oil price is beginning to spring back to life.
Overnight from Monday, January 11, Brent-blend hit $56.24 a barrel, an increase of 1% in 24 hours, with West Texas Intermediate showing a similar rise. There are two drivers of this. On the demand-side markets are getting optimistic about the resolution of the crisis through the use of vaccines. On the supply-side, Saudi Arabia has aggressively resumed its role as a ‘swing producer’ by restricting output. Last week the Kingdom announced that it would cut its own production by 1m barrels a day. This decision seems to have been part of a wider agreement within OPEC to keep production levels stable out of fear that, despite continuing upward drift in prices towards the end of the year, the market condition was “fragile”, to quote Saudi Energy Minister Prince Abdulaziz bin Salman.
The implication of the oil price rises in the face of Saudi caution may be that there will be continued price inflation in both the short and medium-term. The effects on the logistics sector would appear fairly obvious, however, the sector is already seeing significant inflation in certain segments, notably container shipping. If inputs such as bunker fuel begin to see violent increases the impact on freight-rates could be painful or even disruptive.
Over the past year, a series of constraints in logistics capacity have emerged in many types of market, such as the maldistribution of containers or the shortages of last-mile capacity. If higher oil prices are fed into this market environment it could fuel quite significant inflation. Of course, inflation is heavily influenced by monetary dynamics, however, much of the world is experiencing extraordinary monetary conditions suggesting that the conditions for inflation could emerge. If so, the logistics sector could not just see higher prices internally but may also act as a means of transmission of higher prices to the rest of the economy.
Source: Transport Intelligence, January 12, 2021
Author: Thomas Cullen


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VPC Closes Kreditech Credit Facility
The Kreditech Group, a consumer finance technology group, announced the completion of a $200 million credit facility from Victory Park Capital.
The funding strengthens Kreditech’s position as a leader in the consumer finance technology market. The group will use the new financing to continue its rapid growth. With a focus on the geographic rollout and expansion of its product portfolio, Kreditech expects the financing to deliver scale, lower cost and provide flexibility.
“We look forward to helping support the company’s future growth and success in the consumer finance technology space,” said Gordon Watson, principal at Victory Park Capital. “Kreditech’s credit-scoring model is impressive and has the ability to identify target customers in any market, even underbanked customers in emerging markets.”
The Kreditech Group uses big data and complex machine-learning algorithms to serve a simple mission building a ‘digital bank’ for the unscored worldwide.
The Kreditech Group is split into two parts “Kredi” stands for the subsidiaries operating as financial service providers that issue credit to private individuals. The second part, “tech” is the Hamburg-based tech company — Kreditech Holding — developing banking technology and providing supporting services.


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Invest Northern Ireland is offering companies the opportunity to apply to exhibit at Infosecurity 2017 the number one information security event to be held at the Olympia Exhibition Centre in London.
Recruitment for this exhibition has now closed. We will update the page with details of the exhibiting companies soon.
Infosecurity is Europe's premier event for information security professionals.
The three day show in central London is Europe's biggest free "one-stop-shop" for information security all under one roof. This is the perfect opportunity to engage with the entire information security market face to face.
Our export events include international trade missions, shows and exhibitions specifically designed to help you break into new export markets faster.


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If you’ve watched Linus’ video on how to make a light weight HTC vive tether, you will know that the cumbersome cables that come with the HTC vive can get in the way. UploadVR has seen a demo of a more elegant solution created by a company called TPCAST: one of the first companies to join HTC’s virtual reality accelerator, Vive X, which was announced this summer.
The wireless add-on on includes a built in battery which is said to be good for around one and a half hours of game play. They also have plans to have a larger battery which the user will put in their pocket instead.
It will be interesting to see if HTC will decide to integrate this technology into their next generation Vive VR headset.


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Citi markets and banking has acquired Ecount. Ecount’s corporate prepaid card solutions products will be integrated into Citi’s global transaction services business. Ecount has provided customized prepaid card solutions for payments delivery, including compensation and promotions. Established in 1997, the company serves a base of more than 1,200 corporate clients across North America. Citi hopes that this acquisition strengthens its position in global payments in the US, and could enable the launch of similar stored value card solutions worldwide. The prepaid card market is experiencing high growth, and is currently estimated at more than US$2 trillion worldwide, as corporations and consumers continue to move from paper checks to electronic-based payment methods.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more


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Ashley, Ethan Allen file appeal for antidumping duties
Staff Staff -- Furniture Today, October 16, 2013
HIGH POINT — Ashley Furniture Inds. and Ethan Allen haven't given up on their fight to obtain a portion of antidumping duties they believe are legally theirs.
On Oct. 3, the two case goods and upholstery manufacturers filed an appeal with the U.S. Court of Appeals for the Federal Circuit saying they believe they should receive some of this money.
On Aug. 19, a three-judge panel of that court voted 3-1 to deny their original appeal. However, cases can be reheard by a full panel of at least 12 judges.
In filing the appeal, the companies said they believe they have a better chance at success with the full panel of judges.
"Ashley carefully reviewed the three-judge panel's split decision with counsel and concluded that a conflict with earlier court decisions coupled with unresolved issues regarding Ashley's constitutional claims are significant enough to warrant asking for a new hearing in front of all 12 judges," said Jeffrey S. Grimson, a partner in Washington-based Mowry & Grimson, a law firm representing Ashley.
Ethan Allen officials declined to comment on the matter.
At issue is whether the two companies have a right to receive a portion of duties collected in the Chinese wooden bedroom furniture case.
Under the Byrd Amendment provision of the federal Continued Dumping and Subsidy Offset Act, these duties are paid to companies - also known as petitioners - that publicly supported an antidumping investigation. Neither Ashley nor Ethan Allen were among the petitioners supporting the 2003 antidumping investigation.
In the furniture case, the petitioners argued and the government later determined that many Chinese made bedrooms were priced lower than materials costs, a violation of international trade laws.
The duties, which are applied to Chinese factories and paid by importers of record, aim to help offset this unfair pricing advantage.
Opponents of the duties say they have done little to protect or bring back jobs to the domestic wood industry because they have simply shifted bedroom production to other non-duty low cost countries such as Vietnam.
The Byrd Amendment has since been repealed and all duties collected after October 2007 are directed to the federal government. Ashley and Ethan Allen argue that they have a right to some of the duties collected before then.
Early last year, the Court of International Trade allowed $152 million in duties held up in the furniture case since around 2007 to be distributed to the petitioners. Ethan Allen and Ashley appealed this decision. While the courts did not stop the payments from being made to petitioners, the appeals were allowed to move forward.
Had the decision gone in its favor, Ashley would have received at least $32 million. Ethan Allen would receive more than $58 million, a figure based on estimates on duties U.S. Customs and Border Protection has held up from 2008-2010.
These companies argue that their position as U.S. producers entitles them to some of the duties. They claim that forcing them to take a position on the issue in order to qualify for the funds is a violation of their rights to free speech.
They also question what constitutes support in this particular case. For example, the appeal notes, former case goods producer Oakwood Interiors checked the support box in the International Trade Commission questionnaire and received distributions even though it took no further part in the proceeds.
"This issue also is of great practical importance to affected industries," attorneys wrote in the appeal. "Receiving a distribution can make the difference between operating at a profit or a loss...At the same time, being denied a distribution because of the company's speech is doubly harmful-not only is the speaker denied funding, but the money withheld is then given to the speaker's domestic competitors, who can use it for investments that secure a long-term competitive advantage."
It was not clear when the court will make a decision to hear the case. If it does, it could be several months before it gets heard, Grimson said.
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Rakuten has new listings for Atelier Dusk Trilogy Deluxe Pack titles and we have a release date for the Japanese release! Atelier Dusk Trilogy Deluxe Pack releases on December 25th in Japan. The trilogy releases for PS4, Switch in Japan with an additional PC release in the west. Currently, a western release date is unknown but the Atelier Dusk Trilogy is heading to the west. We should get a exact release date for the western versions soon!
Preorder info for the Japanese release is available here. Stay tuned at Final Weapon for more of the latest in Japanese gaming news.


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In March 2020, German automaker Porsche announced that it would begin testing a new production concept: partially 3D printed bodyform bucket seats. Now, it appears that the trajectory from the testing to the production phase will total just under two years, as Porsche is now announcing the sales launch of this product. It will be offered to customers upon request on the Porsche Tequipment site for the Boxster, Cayman, and 911 models. Moreover, starting early next year, the company will present its new design to a broader audience, as it plans to add the 3D printed seats as a standard feature on Porsche Exclusive Manufaktur—the brand’s personalization program—in February 2022, at which point it will also become part of the Porsche Car Configurator.
“Seats adapted to individual drivers have been available for a long time in professional motorsport. Now Porsche also offers a road-approved customisation with different rigidity grades as standard,” notes German race car driver Lars Kern, one of many customers chosen by Porsche over the past couple years, at various car exhibitions, to be a test driver. “During the initial test drives I was impressed by the ergonomics – the slightly lower seat position and improved thigh support are similar to what you get from a seat in a racing car. The passive ventilation is impressive too.”
Parts of the cushion and backrest are 3D printed from a combination of polyurethane-based materials. One of the benefits of this is that the parts made using AM come in three different rigidity grades that customers can choose from. They’re then clipped together with the rest of the seat, which, the company notes, results in a product that generates none of the emissions associated with the adhesives used in conventional car production. Additionally, the 3D printed seats are over 8% lighter than their conventionally manufactured counterparts.
The approach Porsche has taken here to test its concept is especially important to pay attention to. It’s quite noteworthy to look at a company’s press release, for instance, and see a quote from an actual customer rather than a CEO or an engineer. This is an advantage that car manufacturers have: getting timely feedback directly from actual consumers of their brand. For one thing, this helps a great deal from the standpoint of quickly and continuously integrating customers’ responses into the research and development process.
Also, since the factor of brand loyalty matters to makers of luxury vehicles more so, perhaps, than it does to any other industry, feedback garnered from this type of research can be counted on to be a more reliable indicator of actual, future business results than it would in other contexts. In other words, if the people who tested the product like it, as in this case, you can expect actual customers to respond similarly. Thus, Porsche’s particularly clever focus group strategy may be largely responsible for its quick movement from conceptualization to execution on this project.
In general, German automakers seem to be ahead of the curve when it comes to building AM into their mass production plans. For example, drivers of the BMW Mini have been able to customize aspects of their seats since 2018 thanks to features designed and build with 3D printing technology. Similarly, Volkswagen announced earlier in 2021 that by 2025, it expects to 3D print 100,000 parts per year. So while the US and China seem to be doubling down repeatedly on applying AM to aerospace and defense, Germany appears to be taking the lead on innovations for the direct-to-consumer market. If industrialization’s past is any indication of its future, this could prove to be a smart move in the long run.
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Published on Dec 5, 2018
At CES in January, LG debuted a new UltraWide 5K display, the 34WK95U, which just recently launched. We managed to get our hands on one of the new super huge monitors, and we checked it out in our latest YouTube video.


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Thumbtack Launches Front Desk Service
Thumbtack today launched Front Desk, a concierge service for small business owners.
"Today, our Front Desk team responds to inquiries in two minutes, which means customers are finding help faster than ever and pros are growing their businesses more sustainably," said Jeff Grant, chief operating officer of Thumbtack, in a statement. "We're helping pros spend less time in the office or on the phone and more time on the job. In the future, we envision Front Desk helping independent business owners manage more of their growth factors on Thumbtack. Chat is just the beginning."
To start, Thumbtack's Front Desk team conducts an onboarding call with each pro to understand business goals and preferences to set up personalized responses for future customers. Based on the package selected, the Front Desk team handles messaging with customers on behalf of the pro and books jobs based on availability and personal preferences.
During initial testing of Front Desk, service professionals saw on average 20 percent higher job conversion and 28 percent higher customer satisfaction ratings.
"The Front Desk team has been phenomenal. Customers reach out to us at all times of the day, including at night," said Michele Bottone, owner of Lazy B Fencing and Staining, in a statement. "Prior to using Front Desk, we wouldn't see the messages until the next day because we are out in the field or at home with family. Now it doesn't matter when customers reach out because they get responded to right away, and it's helped us engage them more efficiently. The customers also enjoy the quick response from our team. It's been great."
Thumbtack Partners with Workiz
Integration between Thumbtack and Workiz allows field service workers to manage client outreach in one platform.
Thumbtack and Jobber Partner
Jobber and Thumbtack partner to help home service professionals reach new customers and book jobs.


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An old article from teslamag.de made waves again on Monday. In mid-May, editors reported in Tesla Gigafactory in Grünheide near Berlin produces only 86 Model Y per week At the beginning of July, a larger transfer of higher volumes is planned. Bild newspaper picked up this article and turned it into a “Tesla Shock” because production was going to stop because of it. This two-week break was planned for a long time. Initially, Bild newspaper reported that it was scheduled to start on Monday, then corrected itself to the next day. This corresponds to the current information reached on the teslamag.de website.
Double Tesla watch after switching off
The article in Monday’s newspaper Bild does not contain any new information, but rather summarizes what has become known about events and plans at the German giant plant in other ways in the past few weeks. Tesla itself is conservative as usual, but gave the provisional result in June 1000 Model Y produced in one week for the first time. This has been estimated to be about 50,000 per year, which is only one-tenth of the target capacity, the tabloid correctly wrote. However, she did not mention that Tesla CEO Elon Musk stated long before the launch and after that that achieving this goal will take some time.
On the other hand, the newspaper appears to have mixed up information that does not directly belong to each other. In the original version, the break was said to begin on Monday (July 4). Then that was corrected to next Monday. mid-May as well In another post on this topic teslamag.de had only reported “early July”. The rumors could have surfaced in the Bild Report on the 4th of July, and from that point on the third turnaround would begin at the German Tesla plant.
An informed source has now confirmed to teslamag.de that the date set by the newspaper for the second attempt, next Monday, is correct. Incidentally, this interruption in production at Grünheide has been planned since at least March. It said that as of July 11, the vast majority of former Tesla employees will not be required temporarily. However, after two weeks, they should all be back – and so much more every week of August.
However, these new employees are not serving the goal of filling a third shift at the German Tesla plant, as was heard on Monday. Rumors about this surfaced last week and it was also mentioned in the photo report. On the other hand, teslamag.de confirmed that the goal of the conversion interval is significantly faster production. From the current 90 seconds, the clock at Gigafactory should be reduced to 45 seconds from August. Many new employees will also be needed for this – demand will almost everywhere double in production, it has been said.
More wages in German Gigafactory from August
And as of the beginning of August, Tesla will be paying nearly the entire Gigafactory workforce more money, he heard on Monday. who – which Labor union IG Metall recently raised the issue of wages at Tesla – With the claim that there is ‘grinness of teeth’ in the factory because new employees are paid better. But that doesn’t seem right, because as it has now been said, Grünheide’s new and old employees should instead get 6 percent more August than the previous rules. The only exception to this is management. However, it is said that there is constant dissatisfaction with the salary level in the factory. At the lowest level, it is currently €32,000 per year.
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