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Grant Unsworth, the national director for retail services at CBRE New Zealand, says the results are encouraging for bricks and mortar retailers.
“Online retailing is a well-known trend,” Unsworth says.
“However, what our survey illustrates is the ongoing relevance of bricks and mortar, particularly among lower income brackets and those aged 18 to 34.”
He says large proportions of those surveyed said they intend to spend more online in the next two years, including the 55 to 64 age bracket (19 percent).
“However, what is surprising is the positive sentiment shown towards bricks and mortar shopping among the younger age groups,” he says.
The survey was conducted to find out what consumers want from their shopping experience for non-food items.
It found the most important factors consumers consider when choosing where to go shopping are the price of products, cleanliness and convenience to travel to.
Head of research for CBRE NZ, Zoltan Moricz, says shopping centres must continue to offer an attractive reason to visit, such as plenty of parking.
The survey found 85 percent of New Zealanders travel to a shopping centre in their car.
“Given the importance of parking revealed in the survey, centre owners need to carefully explore their options in balancing highest and best land uses with an enhanced and stress-free customer experience,” Moricz says.
He says retailers that have “clicks and bricks” strategies that allow their business to work online and offline will have an advantage.
“Consumers’ ongoing fondness for online shopping means centres could adapt and implement technology-based innovations to continue to capture customers,” he says.
Moricz says this could include shopping centre apps and using social media platforms to connect with shoppers.
Half of the survey responds said that the overall experience is something they think about when choosing where to shop.
Unsworth says physical retailers need to “place-make” and create an experience to challenge online shopping’s popularity.
“Shopping centres now must be an attractive place to meet and gather – providing an important social role in the community, which is something online shopping can never compete with,” he says.


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DIDI CHUXING INC.
SoftBank, biggest investor in Didi, sinks after China blocks app
The investigations have dealt another blow to the shares of Masayoshi Son's tech and investing conglomerate
China's Didi says app takedown may hurt revenue
The removal of Didi's app, which does not affect existing users, comes days after Didi made its trading debut on the New York Stock Exchange in an initial public offering that raised $4.4 billion.
China cyberspace administration launches security probe into Didi
Didi said it plans to conduct a comprehensive examination of cybersecurity risks and will fully cooperate with the relevant government authority.
China's Didi worth $68 billion after US debut
The stock market debut vindicated Didi's decision to moderate its valuation expectations, after investors raised concerns over the pace and profitability of its expansion in new services and foreign markets. Reuters reported in March that Didi was hoping the IPO could value it at as much as $100 billion.
China's Didi raises $4.4 billion in upsized US IPO
The increase in deal size came after the Didi investor order book was oversubscribed multiple times, one of the sources said.
Didi Global IPO to raise up to $4 billion fully covered in USDidi Global IPO to raise up to $4 billion in the US has been covered on the first day of its bookbuild, sources say.
China probes Didi Chuxing for antitrust violations ahead of US IPOThe investigation into IPO-bound Didi Chuxing is the latest in a sweeping crackdown on Chinese technology companies, including Alibaba Group and Tencent Holdings.
US IPOs hit annual record in less than 6 monthsWith more than six months until the year ends, U.S. initial public offerings have already totaled $171 billion, eclipsing the 2020 record of $168 billion, according to data from Dealogic.
Volvo to provide cars for Didi Chuxing's self-driving test fleetVolvo will provide XC90 SUVs equipped with backup steering and braking systems that DiDi Autonomous Driving will integrate with Didi Gemini, its new self-driving hardware platform.
China's Didi Chuxing picks Goldman, Morgan Stanley for mega US IPODidi Chuxing has opted for New York because of a more predictable listing pace, the presence of comparable peers like Uber and Lyft, and a deeper capital pool.
SoftBank, armed with billions in cash, joins blank check bingeSoftBank is now looking at ways to deploy the cash it’s raised, and has recently launched an asset management unit that’s putting money into public securities.
Uber weighs purchase of BMW-Daimler ride-hailing ventureUber has been looking to shed minority holdings in several ride-hailing operations recently, including portions of its stakes in China’s Didi Chuxing and the Southeast Asian ride-share company Grab.
SoftBank returns to profit after record lossesMasayoshi Son has pulled off a remarkably speedy comeback after the worst loss in his company’s 39-year history.
Uber, posting first-ever decline in rides, says worst is overDuring the past week, Uber has embarked on a blitz of cost-trimming moves. Uber said it will end food delivery operations in more than a half-dozen countries and that its Middle East unit Careem will terminate 31% of employees.
SoftBank’s big bet on sharing economy backfires with CoronavirusInvestors are increasingly spooked about the stability of Son’s empire and its $100 billion Vision Fund amid the pandemic. Before this week, SoftBank shares had tumbled about 50% in a single month, including their worst one-day decline since the Japanese billionaire listed his company in 1994.
After WeWork, SoftBank’s startup accounting model under fire. Oyo raises eyebrowsThe Vision Fund put $250 million into Oyo in 2017 and led a $1 billion funding round last year, which pushed the Indian company’s valuation to $5 billion. Son encouraged Agarwal to expand into markets such as China and the U.S. and to buy properties, including the Hooters Casino in Las Vegas for $135 million.
SoftBank’s Son defiant as WeWork triggers $6.5 billion lossSoftBank recorded an operating loss of 704.4 billion yen ($6.5 billion) after writedowns in WeWork and other investments, the Japanese company’s first such loss in 14 years. Its $100 billion Vision Fund lost 970.3 billion yen.
How SoftBank’s Masayoshi Son became poorer by $6 billionThe Vision Fund is believed to be planning to swallow a charge of at least $5 billion.
Uber’s CEO vows to tackle those losses, with help from IndiaKhosrowshahi says Uber will continue to invest there, and is confident his team can build products that fit not just the Indian market but could also be exported to growth regions of the next decade from the Middle East to Africa.
SoftBank needs a different IPO after WeWork slipSoftBank, like most pre-IPO investors, is generally locked in and can’t cash out that profit for at least a year.
SoftBank's Son puts Vision Fund's Paytm, Grab, Oyo in spotlightSoftBank Group Corp.’s $100 billion Vision Fund has 82 companies in its portfolio who delve into areas from satellites and autonomous driving to chips and cancer detection.
How much cash are on-demand startups burning?Staying in Asia, the ride-hailing juggernaut Didi Chuxing lost 4 billion yuan or $585 million in the first half of last year.
When SoftBank’s Son missed investing in Amazon for lack of money"It’s a big mistake that I didn’t make that investment. I just didn’t have enough cash. But my image, my vision was right,” said Son.
China's Didi launches credit, crowdfunding services in diversification pushThe new products were tested in 10 cities and have now been introduced nationwide, the firm said on Wednesday.
SoftBank's CEO, Saudi's Prince and a $22 billion test of valuesSon’s SoftBank Group Corp. plummeted the most in more than two years on Monday after Saudi Arabia came under fire for the disappearance of journalist Jamal Khashoggi.
OYO's expansion isn't the best use of unicorn fundsFounder Ritesh Agarwal has big plans for the startup, which already has 10,000 hotels in 160 Indian cities.
Masayoshi Son & Elon Musk are not teaming up as SoftBank shuns Tesla dealAs the intrigue enters a second week, with pressure increasing on the billionaire founder to explain how a deal would be funded, one of the world’s most active investors has already ruled itself out.Load More
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It’s taken the publisher longer than planned to off-load the two former Time Inc. titles.
On the road for 265 days of the year, Julia von Boehm often passes along insider travel tips to fashion editor friends and is now making that effort more official with a site.
With its continued sell-off of Time Inc. titles, Meredith is significantly reducing what it paid for those it kept, like People and InStyle.
Edward Felsenthal is taking on the dual role of lead editor and chief executive officer under the new ownership of billionaire Marc Benioff.
The magazine is about to exit a post-sale transition period and is putting executives in place to evolve the brand.
The director has been at InStyle for two years.
Brown, a budding influencer, is set to take on even more “personal projects.”
The sale to billionaire Marc Benioff already includes plans to add staff, but also a multiyear deal with Meredith.


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The game time has been announced for the Wisconsin Badgers’ Sept. 22 date with the Iowa Hawkeyes, taking place at 7:30 p.m.
And as usual, the football game will be on our big projection screen at Bierock.
This Big Ten West battle marks the conference opener for both undefeated teams.
Bierock will have food and drink specials for the event, including $15 buckets of Badger Club Amber by Wisconsin Brewing Company.
We’ll also have our Tailgate Bierock, available only on Badgers and Packers game days, stuffed with bratwurst, cheese curds and sauerkraut.
See you at Bierock. On Wisconsin!


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Over the past few years, we have witnessed a rampant expansion of the smartphone market throughout the world, almost reaching a threshold in numerous regions including the US. But there is still one tech-hungry region that poses another opportunity for the fast growth of smartphone companies. Of course, industry leaders Apple (AAPL) and Samsung are aware of this, and are all set to make their Midas touch.
The market we are talking about is Latin America with a population of over 650 million, according to GSMA Intelligence. The findings are backed by the fact that some of the top countries where people spend more time on the internet – such as Argentina, Mexico and Brazil – are also in this region.
The growth in smartphone usage has been pretty evident here. According to Wall Street Nation, currently, about six out of every 10 mobile connections taken in this region are on smartphones. This is compared to less than one out of 10, six years ago. A plethora of factors, including economic improvements, a growing young population as well as more accessibility to various online services are expected to spur smartphone growth further here in the coming years.
Samsung Electronics has been at the forefront of conquering this market and at present, it holds a dominant position in as many as six countries including Peru, Argentina, Brazil, Colombia, Chile and Mexico. Apple, meanwhile, has recently been aggressively pushing its products in this region, and some of it is actually bearing fruit. The Wharton School has recently stated that iPhone devices are seeing a higher growth in Latin America, compared to its rival brands. In fact, Apple is likely to open a flagship store in Mexico City by next year.
Apart from these giants, a couple of smaller companies also have their focus fixed on Latin America. These include Cool Holdings (IFON), smartphone firm Transsion Holdings and China Mobile Games & Entertainment. We are sure there’s more coming up.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,


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At AccuList USA, nonprofit interest in our direct mailing lists and services for fundraising remains strong despite the growing share of donor dollars collected via online giving. Some of the reasons that fundraising pros remain committed to mail power are cited in a recent article for The NonProfit Times by Mark Hrywna.
Direct Mail Is Vital in a Multi-Channel Mix
It’s true that nonprofit organizations are beginning to see a growing share of donations attributed to online giving, but as Steve MacLaughlin, vice president of data and analytics at fundraising tech firm Blackbaud, stresses in the article, online giving is still less than 10% of all charitable giving. Fundraisers need to avoid confusing the channel of engagement with the channel of transaction, he advises. Direct mail response certainly is no longer limited to mailed donations as many direct mail recipients go online to give; similarly, a mobile-device outreach or e-mail appeal can generate offline gifts. Even in an increasingly digital world, a good multi-channel mix will include direct mail.
Direct Mail Keeps Proving Its Power
Hrywna cites Make-a-Wish Foundation as an example of continued direct mail investment. When Chief Financial Officer Paul Mehlhorn started with Make-A-Wish Foundation in 2009, he recalls that he was told direct mail was a dinosaur that would be gone in five or six years. Yet last year the national office exceeded 2009 direct mail revenue by several million dollars, going from $13.9 million to $15.3 million. “It looks to me like a program that can stay very strong for the next 10 to 15 years,” Mehlhorn asserts to Hrywna. In fact, Mehlhorn says he may expand on that direct mail success: “We continue to increase our investment in online giving. However, we are reconsidering our approach to direct mail and may increase our investment for direct mail in future years. As you get past the low-hanging fruit, [online] becomes almost as costly as direct mail. Unless you enlarge your donor pool, you’re going to be spending about the same.”
Direct Mail Has a Key Role in Planned Giving
Plus, while the revenue ratio of direct mail to online giving has gone from 3:1 to even at Make-a-Wish, there are some areas where direct mail retains an edge, such as planned giving. Make-A-Wish Foundation has seen revenue from planned gifts just about triple during the past four years, growing from about $2 million to $6 million, and Mehlhorn credits part of that success to actively promoting planned giving in direct mail as well as online campaigns. “A lot of the folks now making end-of-life plans are still in that generation that likes getting mail,” he points out.
For more, see The NonProfit Times article.


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After a a deluge of new announcements during its hardware event last week, Amazon is coming to us with something new again this week.
The company revealed Amazon One, a contactless palm reading device to help users make a transaction in-store, present a loyalty card, or authenticate themselves for entry into a secure location.
Amazon is piloting the new devices in select Amazon Go stores, concept stores that offer consumers a checkout-free shopping experience by using AI to track what they place in their cart. The Amazon One terminals will be offered as an option for consumers to authenticate themselves upon entering the store.
There is a slight bit of friction involved. Upon arriving at the store, the shopper enters their credit card into the Amazon One terminal, hovers their palm over the device, and follows prompts on the screen that associate their card with their unique palm print. Shoppers can enroll with one palm or both.
After enrolling, shoppers can use their palm print to enter Amazon Go stores. In the coming months, Amazon One will be available at additional Amazon stores, as well.
“[W]e believe Amazon One has broad applicability beyond our retail stores, so we also plan to offer the service to third parties like retailers, stadiums, and office buildings so that more people can benefit from this ease and convenience in more places,” said Dilip Kumar, Vice President of Physical Retail and Technology at Amazon.
The tech giant cited a handful of reasons for using a palm print over other biometrics. First, unlike many facial recognition solutions, humans can’t identify a person by simply looking at the palm of their hand. Also, unlike facial recognition, Amazon One requires users to make an intentional gesture by holding their hand up in front of the device. And, of course, the palm reader is contactless, easing fears about virus transmission.
If you’ve been following fintech for any length of time you’re likely aware that Amazon isn’t the first company using contactless palm print biometrics. Both iProov and Redrock Biometrics have been working in the space since 2011 and 2015, respectively.
As biometric authentication methods rise in popularity, we’ll likely see palm prints being the body part of choice for authentication. That’s because, in addition to Amazon’s point regarding the ability to recognize others’ palm prints, it is also much more difficult to spoof someone else’s palm than it is to spoof their fingerprint of face.


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New event will boost Norfolk food industry
PUBLISHED: 10:20 27 June 2013 | UPDATED: 16:15 27 June 2013
A fresh drive has been made to boost the region’s food industry with the launch of a meet the buyer event.
Local Flavours will give food producers from Norfolk the chance to champion their wares and secure fresh deals, according to organisers.
It is being held at Honingham Thorpe Farms, home of the Norfolk Food Hub, on Tuesday, September 10.
The event was announced yesterday at the Federation of Small Businesses stand at the Royal Norfolk Show where the importance of buying locally was celebrated.
And the FSB used the occasion to raise awareness of the importance of inspiring the next generation of business leaders.
Valerie Watson-Brown, director of the food preservation firm Freshpod, who has driven the project with Anglia Farmers, said Norfolk food businesses need to shout louder about their products in order to improve their orders both at home and abroad.
If you value what this story gives you, please consider supporting the Eastern Daily Press. Click the link in the orange box below for details.


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Under the bonnet of LiquidVR SDK
AMD has put TrueAudio Next onto Github as part of its LiquidVR SDK.
Keeping TSMC clean
The dark satanic rumour mill has manufactured a hell on earth yarn that Intel is going to start making some of the fruity cargo cult Apple’s chipsets.
But mobile phones not what they are cracked up to be
China's Lenovo saw its first quarter profit jump nearly two thirds but its mobile arm lost money again as a $3 billion bet on buying Motorola to diversify has yet to pay off.
Finn end of the wedge of VR price cuts
Nokia has cut the price of its OZO virtual reality camera by 25 percent in what is expected to be the start of a reduction of price of VR gear.
If it runs on an XBox Project Scorpio will play it
Project Scorpio – Microsoft's VR project, is set to run everything that the XBox one can as Microsoft confirms what we have already stated about the new console.
Photonic future on the dark side of the moon
Intel revealed to the Intel Developer Forum that it is launching silicon photonics, to enhance the use of optics for data centre traffic management.
Seventh generation chip streaming 4k
The Intel Developer Forum saw 2-in-1 devices capable of streaming 4k video thanks to Chipzilla's new Kaby Lake chip.
Fastest growing companies
Beancounters working for IC Insights have added up their numbers and divided them by the age of their eldest child and reached the conclusion that MediaTek and AMD grew the most in the second quarter of 2016.
While users and the rest of the world think Apple’s move to kill off the headphone jack is a bad idea, Intel is cheering a general move to a more mobile USB Type-C.


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Snap, the parent company of social media Snapchat, is reportedly planning to reduce the number of their employees. Apparently, this policy is a step taken by the company after announcing a disappointing earnings report.
Information regarding the layoffs has been revealed by two people who are familiar with the plan. they say Snap is currently in the early stages of planning layoffs.
Furthermore, the plan for Termination of Employment (PHK) was carried out after the company announced the results of their disappointing business performance. In fact, in the report, Snap's stock price was at an all-time low in the second quarter of 2022.
The parent company of the Snapchat app has more than 6,000 employees. However, it is not yet known how many Snapchat employees the company will lay off.
However, what is clear at this time is that managers from all teams in the company are still calculating the number of employees who will get laid off. Meanwhile, Russ Caditz-Peck, a spokesman for Snap, declined to comment on information about the company's layoffs.
The Verge revealed, it seems Snap's business is in a pretty difficult situation for two reasons. First, Apple has released a request tool to keep apps from tracking information, making it difficult for companies like Snap to track. Second, the reason for the massive economic slowdown is that the stock price of Snap and other companies has fallen.
For information, Snap is not the only technology company that has decided to lay off employees. Previously, Twitter, TikTok, and a number of other technology companies had announced layoffs or stopped hiring in recent months.
Samsung produce 300 million smartphones throughout 2021


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Phillips International Auctioneers has unveiled the redesigned reception gallery of its New Bond Street site in London, created by Tilney Shane. The shop-front and entrance is re-emphasised with modern materials and the interior serves as a gallery space for paintings and objects. Phillips’ New Bond Street operations director Keith Miller says the look demonstrates the auctioneer’s intent to rebuild its New Bond Street business and signals the changes taking place throughout the rest of the auction company.
This year’s exhibition features a wheelchair that can climb stairs, a language-translating earpiece and a brand identity for Wales.
A new fundraising book features contributions from Manchester creatives including Peter Saville and Malcolm Garrett, which have been inspired by Tony Walsh’s poem This is the Place.
As Design Manchester celebrates its fifth birthday, we pick out our top exhibitions to catch at the festival, including a tribute to the book covers of Mancunian literary legend Anthony
Atlas has created the branding for the new fashion label, which will also be contributed to by other industrial and product designers.


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At 12:11pm today the 200,000th member registered on Eventfinda New Zealand, our original website and birthplace of what has become a very successful event discovery, syndication and ticketing platform.
We have been New Zealand’s most popular event discovery destination for years. Nielsen ranks us as the country’s 20th most popular website, which is quite an achievement considering the competition we’re up against (including the All Blacks website).
To put 200,ooo registered members into perspective, it represents 4.5% of the entire population of New Zealand of 4.4 million.
It means Eventfinda is the same size as Hamilton (just saying).
We also have 150,000 weekly newsletter subscribers, people who want the latest news about what’s on and what’s hot. With an impressive 75% lifetime retention rate, we’re clearly giving Kiwi’s what they want.
We’re proud to be a homegrown New Zealand technology company. Multinational companies usually dominate the consumer space, and most New Zealand websites have to occupy a small niche to survive. We’ve proven that a Kiwi company can grow into a mass consumer destination website, and that’s something we’re proud of.
Not only have we become a destination site in our own right, but we’ve innovated our way to success. Eventfinder pioneered partnerships with New Zealand’s key media companies, built a popular and successful ticketing business, and have licensed the platform overseas.


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A new PvP game mode named Crystalline Conflict has been added to Final Fantasy 14’s Newfound Adventure DLC release. New talents, common actions, and job-specific Limit Breaks are being added to PvP in Final Fantasy 14 as part of the continuing rebirth of PvP in the highly acclaimed MMORPG.
Additionally, jobs in Final Fantasy 14 are given access to PvP Common Actions that may be used by any characters. It’s a paradigm shifter that decreases damage received by 90% and offers protection to control effects at the expense of a lowered movement speed, among other things. The Guard ability may be bypassed or canceled in certain redesigned job activities.
The new job-specific Limit Breaks in Final Fantasy 14’s PvP update are one of the most interesting changes. Unlike the neutral Limit Breaks utilized in PvE, these new ones may have a dramatic impact on the outcome of a fight. A number of classes gain wholly new Limit Break abilities, such as the Summoner’s Bahamut and Phoenix summoning, while others have the most potent abilities from their PvE cycle included in their Limit Break. The Samurai’s Zantetsuken ability from Final Fantasy lends its name to several of these Limit Breaks.
It’s important to note that this is not the first time PvP has been altered in Final Fantasy 14. With new game modes, features, and abilities being added since its debut not long after the release of A Realm Reborn, it has undergone multiple substantial reworks. In Newfound Adventure, the largest and most promising PvP modifications yet have been implemented. This is the first time in a long time that Final Fantasy 14 seems to be making progress with its PvP mechanics.
They are eager to test out the new PvP mechanics in Final Fantasy 14. The new Crystalline Conflict mode appears to be fast and dynamic, and the new powers appear to be balanced and exciting. Crystalline Conflict is a speedy and dynamic battle format. Many Final Fantasy 14 fans were excited to see the removal of RNG from PvP in favor of a more skill-based challenge. PvP devotees think that the new modifications may attract new players, particularly those who have come from games like World of Warcraft, which have robust PvP systems.


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Pep Boys loses $2 million in 3Q
Pep Boys-Manny, Moe & Jack reported a net loss of $2 million on net sales of $517.6 million for the third quarter ended Nov. 1, 2014. That compares to income of $1 million on sales of $507 million for the same period last year.
Comparable store sales increased 1.2%, broken out as follows:
*an increase of 6.1% in comparable service revenue (labor sales), and
* a decrease of 0.2% in comparable merchandise sales (service center and retail sales).
For the first nine months of its fiscal year, Pep Boys recorded a net loss of $625,000 on net sales of $1.58 billion. That compares to earnings of $10.2 million on sales of $1.57 billion in the first nine months of 2013.Comparable store sales decreased 0.7%.
“Our recent top-line growth has continued into the fourth quarter,” says interim CEO John Sweetwood. “Particular highlights are tires, commercial and eCommerce sales; however, this balance of business shift has continued to pressure gross margin rate.”
The company’s Road Ahead stores continue to produce positive results, according to Sweetwood.
“Cincinnati and Denver will be completed in the fourth quarter, with grand re-openings scheduled for the first quarter of 2015. Baltimore, which will serve as our first test of a reduced average per-store investment, will be grand re-opened in the second quarter of 2015.”
Sweetwood says the company’s CEO search is “progressing as planned.” Mike Odell resigned as Pep Boys’ CEO and president in September, and Sweetwood was named interim CEO.
For recent news on Pep Boys see, “Odell resigns as Pep Boys CEO and president.”


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A Passage To India For The World's CarmakersSharon Moshavi
At Ganga Automobiles' showroom in New Delhi, a sign promises: "Drive Home Your Dream Today." Tell that to Sunil Kapoor. This civil servant recently went to buy a Maruti 800, a $7,000 sub-compact made by India's Maruti Udyog Ltd., only to discover that he would have to wait at least six months for delivery. Kapoor is resigned to waiting. "There's no place else to go," he sighs.
Soon, people like Kapoor may have more choices. Thanks to the advent of auto financing and other economic reforms, many Indians can afford to buy a car for the first time. Up to now, most of them have been buying Marutis. The government-backed company has long enjoyed a near-monopoly, with 70% of the market. But a wave of new joint ventures will soon flood Indian roads with cars. For Maruti, that means the days of easy money and slow production are coming to an end. So it's investing in facilities to reduce delays that might drive away buyers.
DEARTH ON THE ROAD. Competitors are coming from all over (table). General Motors, Peugeot, and Mercedes-Benz are just some of the auto makers that have announced plans in recent months to assemble cars in India. In a $900 million venture, South Korea's Daewoo Corp. and its Indian partner, DCM Ltd., will start producing a small sedan, the Cielo GL, in July. Plenty more, such as Toyota, Chrysler, and Renault, are contemplating an entree.
Their interest is piqued by the dearth of car owners in the country. Only 1 in every 280 Indians has a car, compared with 1 in 22 Thais. "The potential demand here is enormous," says Sangeeta Mehta, an auto analyst at SSKI Group in Bombay. The market is expected to double or even triple by 2000.
Despite its production problems, Maruti enjoys sizable advantages over its rivals. Founded in the 1970s by Sanjay Gandhi, son of then-Prime Minister Indira Gandhi, Maruti has an exclusive network of dealers and component manufacturers. And Maruti has a valuable partner in Suzuki Motor Corp. The Japanese carmaker designs Maruti's models and approves all vendors and design modifications. Suzuki, which acquired 26% of Maruti in 1983, upped its share to 50% in 1992.
The partnership with Suzuki brings more than Japanese knowhow. By purchasing half the company, Suzuki has distanced Maruti from the government's purview. Only 1 of the 10 board members is now a government appointee. "It has become a very professional company," says Deepak Verma, assistant vice-president of Industrial Credit & Investment Corp. of India. Maruti's earnings report reflects its new management. Revenues for the fiscal year ended Mar. 31, 1995, were $1.4 billion, up 50%. Pretax profit reached $85 million, nearly double the previous year's figure. Car sales rose 30%, to 206,000 units.
To work down its order backlog, the company is investing some of its profits in new capacity. "Maruti is gearing up for competition by gearing up for increased production," says SSKI Group's Mehta. By modifying existing plants outside Delhi, Maruti will able to produce 320,000 cars annually by the end of 1995. The company also plans to build a $400 million factory that would initially assemble an additional 150,000 cars.
BACKSEAT ROLE. The money to pay for the new plant will probably come largely from the government. New Delhi will raise the cash by selling Maruti shares to the public, further reducing its equity. That's a strategy it's following with most other state-owned companies. The sell-off will put Maruti firmly in the hands of Suzuki, which has said it wants to retain its 50%.
Despite these ambitious plans, a few companies still think they can grab share from Maruti in the sub-compact market. Bajaj Auto Ltd., India's largest motor-scooter maker, and Tata Engineering & Locomotive Co., which makes trucks and luxury cars, both have plans. But analysts don't believe such contenders can match Maruti's economies of scale, making it difficult for them to offer a car as cheap as the Maruti 800.
At the higher end of the market, Maruti faces more of a threat. That's where most newcomers are looking. Back in September, Maruti received orders for 290,000 of its $14,000 Esteem model, but more than half the buyers have canceled since then. That's largely because they defected to such new models as Daewoo's $15,000 Cielo. "Competition is coming in," says Ashwini Suri, managing director of Maruti dealership Ganga Automobiles.
Optimists say there will be room for many players, given the changing nature of the market. Just a few years back, says Jagdish Khattar, head of marketing and sales at Maruti, "cars were considered a luxury." Now, he adds, "they are considered a necessity." Rajendra Singh Payal agrees. He works for American Express Co. in New Delhi and feels it is time to leave his motor scooter behind. "Working for a multinational, I don't think [the scooter] is appropriate," he says. Maruti is counting on that kind of sentiment to help it stay on top.
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According to sources, Apple intends to differentiate its budget MacBook series from its existing MacBook Air and Pro lines. The key differentiator is expected to be the materials used in construction. Unlike its premium counterparts, the budget MacBook could feature a metal casing composed of "different materials." Additionally, cost-effective mechanical components are anticipated to be employed to maintain competitive pricing.
Market Trends and Competitive Pressures
Apple's decision to venture into the budget laptop market appears to be influenced by evolving market trends and increased competition. Notably, Chromebooks have witnessed remarkable growth, particularly within the education sector. According to Research, Chromebook shipments surged from 13.9 million units in 2019 to a staggering 33.5 million units in 2021. This popularity can be attributed to the affordability and suitability of Google's Chromebooks for educational purposes, a trend that gained momentum during and after the global pandemic.
As per the report, consumers can anticipate the arrival of the new Apple MacBook in the second half of 2024. While this timeline hints at a possible announcement during Apple's WWDC 2024 event in June, no official confirmation has been provided. It's worth noting that launch timelines in the tech industry can be subject to change.
While this development is exciting and holds promise for Apple's potential entry into the education laptop segment, it's important for users to approach the news with caution. This is the first rumor of such a product, and as such, it's advisable to await further corroboration from additional sources before forming concrete expectations.
Apple's Upcoming iPhone 15 Series Launch
In the immediate future, Apple enthusiasts can look forward to the highly anticipated iPhone 15 series launch event scheduled for September 12. While rumors suggest a possible price hike, particularly for the iPhone 15 Pro models, official confirmation is still pending. Apple fans eagerly await the event to gain more insights into the tech giant's latest offerings.
Also read: Apple on hiring spree: Various tech roles available; apply now


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Stardew Valley for Nintendo Switch is coming this week
Indie developer Eric “ConcernedApe” Barone has announced that his delightful farming sim Stardew Valley will be making its portable debut later this week, launching on the Nintendo Switch eShop on 5 October. If you fancy yourself a bit of a farmer but couldn’t be buggered to actually manhandle a spade or pluck your cherry blossoms, Stardew Valley is a real diamond in the rough, and well worth checking out.
It’s been banging around on various platforms for some time now, but this will be the first time it’s gone mobile. Previous versions have been praised pretty much across the board – the Xbox One version, for example, has a Metacritic rating of 89… that’s more than Destiny 2, for crying out loud! So Nintendo Switch gamers will probably be quite looking forward to this quaint little sim.
Stardew Valley will be with us by the end of the week for $14.99 (R204.00), so aim your Switch at the eStore and make it happen.


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In early June, a media report said Li Auto's Beijing plant is expected to be completed and start production in August.
(Li L9. Image from the MIIT website.)
In addition to its Changzhou plant in Jiangsu province, Li Auto (NASDAQ: LI) is also expected to build all three existing models at a new plant in Beijing, where it is headquartered, as capacity shortages become a major constraint on further sales growth.
China's Ministry of Industry and Information Technology (MIIT) released its latest catalog of models that will be allowed to be sold on July 14 for public comment, and Li Auto's three existing models -- the Li L7, Li L8 and Li L9 -- are included. The public can submit feedback between July 14 and July 20.
These three models are unchanged in terms of core specifications from previously declared versions, with the only change being that its production address has been changed to the Shunyi district of Beijing, where its new plant is located.
Li Auto's current vehicles are all extended-range electric vehicles (EREVs), which are produced at its plant in Changzhou, which Li Xiang, the company's founder, chairman, and CEO, has previously mentioned has six days of production and one day of maintenance each week.
A weekly capacity of 7,500 units is the limit of Li Auto's current production, which will be increased to 8,000 units per week starting from the 2nd week of July, he previously said.
The Beijing plant was originally Beijing Hyundai's first factory, and Li Auto began building its own facility based on the plant in October 2021.
The project, with a total investment of more than 6 billion yuan ($840 million), is scheduled to go into production by the end of 2023, according to a government announcement at the time.
When it reaches production, the plant will have the capacity to produce 100,000 pure-play electric vehicles a year, said the announcement.
On June 7, local media outlet Meiren Auto reported that Li Auto's Beijing plant was expected to be completed and put into production in August, where the company's first pure-play EV model, internally codenamed W01, will be built.
On June 17, Li Auto announced at its inaugural Family Technology Day that its first all-electric vehicle would be named the Li MEGA.
On June 15, a document from the MIIT showed that Li Auto's Beijing plant was qualified to produce pure electric vehicles as well as EREVs.
Li Auto has seen strong sales growth this year, selling a record 32,575 units in June, surpassing the 30,000-unit mark for the first time.
On July 5, local media outlet 36kr reported that Li Auto has told its supply chain to raise its sales forecast for the second half of the year to around 240,300 units.
Li Auto is on track to see sales of over 380,000 units for the full year, well ahead of the 300,000 sales target set at the start of the year, considering it delivered 139,000 units in the first half of the year, according to the report.
The company said when it announced its June delivery figures on July 1 that it would challenge itself in the fourth quarter to achieve the 40,000-unit monthly delivery mark.
In addition, according to Jiemian's report today, Li Auto is planning to boost production capacity at its Changzhou plant, while plans to start production at that Chongqing base, previously thought to be its third factory, have been halted.
Li Auto will continue to push forward with its production layout plan, depending on national industrial policies and its own development pace, the company said in response to the report.
Li Auto is currently working to improve the operational efficiency of its Changzhou plant to ensure timely delivery of orders, it said.
($1 = RMB 7.1338)


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Hello! magazine has produced a stunning 5-page feature on Don McLean including several brand new photographs taken at the McLean’s residence in Maine and an exclusive interview in which Don talks about Madonna, George Michael, American Pie and his upcoming biography.
This feature is in issue number 883, on sale in the UK September 1st-8th 2005. Hello! is also sold in the US – check their website for outlets.
After this date back issues can be ordered direct from Hello! magazine.
Copyright ©2005 Hello! Magazine


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Global economic development
In our forecasts, we assume that global economic growth in 2017 will be slightly above the previous year’s level. We believe risks will arise from protectionist tendencies, turbulence in the financial markets and structural deficits in individual countries. In addition, growth prospects will continue to be hurt by geopolitical tensions and conflicts. We expect the economic upturn to continue in the large majority of industrialized nations, with stable rates of expansion overall. Most emerging markets will probably see faster growth than in the previous year. We expect the strongest rates of expansion in Asia’s emerging economies.
Furthermore, we anticipate that the global economy will also continue to grow in the period 2018 to 2021.
In Western Europe, the economic recovery is expected to decelerate to some extent in 2017 compared with the reporting period. Resolving structural problems and the uncertain outcome of the Brexit negotiations between the EU and the United Kingdom represent major challenges.
For Central Europe, we estimate that growth rates in 2017 will be similar to those of the past fiscal year. In Eastern Europe, the economic situation should stabilize further, providing the smoldering conflict between Russia and Ukraine does not worsen. Following its decline in recent years, Russia’s economic output is likely to increase slightly.
Political uncertainty and social tensions resulting primarily from high unemployment levels will probably continue to weigh on the South African economy in 2017 and keep growth down.
In Germany, GDP is slated to rise in 2017 at a similar pace as in the reporting period. The situation in the labor market is expected to remain stable, bolstering consumer spending.
For North America, we expect that the economy will expand in 2017 at a faster rate than in the previous year. Growth in the USA and in Canada is forecast to rise year-on-year, while the rate of growth in the Mexican economy is projected to decrease.
Brazil is very likely to come out of recession in 2017, showing a modest growth trend. In spite of persistently high inflation, the Argentinian economy should pick up speed again.
In 2017, the Chinese economy is expected to continue growing on a high level, but year-on-year this growth will lose momentum. For India, we anticipate an expansion rate at around the prior-year level. The economic situation in Japan is likely to remain essentially unchanged compared to the reporting period.


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Brand & Design Agency Uniform reveals the creative for Rainbow Thursday – a campaign from discount provider Network, which thanks frontline workers with 7 days of exclusive offers.
Network connects big brands to the dedicated people working in healthcare, education, care and charity sectors – offering them exclusive discounts.
Rainbow Thursday aims to showcase Network’s unwavering recognition of their scheme members and promotes daily deals as a thankyou for the efforts of key workers this year.
As positive sentiment starts to drop, digital and social content designed by Uniform, aims to keep the conversation going, and thank those on the front line.
Richard Pay, Uniform’s Creative Lead said:
“Black Friday doesn’t feel right in 2020. Seeing people crammed into shops, scrambling over each other, fighting to get a new widescreen TV. So we rebranded it as Rainbow Thursday – a bright, colourful and positive moment dedicated to those who have gone above and beyond this year.
During the Summer nurses, doctors and carers were in the forefront of our minds. We clapped outside our houses, we sent them gifts and showed them support. However the clapping has stopped and rainbows in windows are coming down. We’ve worked with Network to give a heartfelt “thank you” to the frontline workers from a brand that has always been there for them. Not just when it was ‘trendy’.
This campaign gives the country a reminder of their dedication and a glimpse into their lives. Network has reached out to brands to offer 7 days of exclusive discounts for anyone working in those fields. The result is a week of surprise and delight. Giving our frontline workers a little win, a little smile or a little treat everyday.”
Ben Potts, Uniform’s Head of Film said:
“In order to capture the reality of front line work in 2020, we were determined to use real key workers and genuine locations for the campaign promotional film. To comply with Covid restrictions we used a skeleton crew and the smallest equipment footprint possible. We embraced a documentary-style approach, using natural light. The final film really benefited from these limitations, resulting in an emotional and authentic snapshot of everyday heroes.”
Storm Postlethwaite, Head of Marketing at Network, said:
“We wanted to work on a campaign that would help reward and support our members, and hopefully give them the lift they need when we are surrounded by the uncertainty that the pandemic has caused. We also wanted to use this opportunity to thank our partners. They understand how hardworking and deserving our members are and see the discounts they provide as a thank you and a way of showing their recognition.
We hope that the campaign will highlight that we are still thankful and appreciative of our members’ work, what they have done for us all, and what they carry on doing.”


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E-Malt.com News article: Nigeria: Champion Breweries expresses confidence in federal government’s reforms programmes
Champion Breweries has passed a vote of confidence on the current economic restructuring of the federal government disclosing that it would improve the fortunes of business organisation in the country in the years ahead, AllAfrica reported January 31.
Speaking in Lagos last week, the Chairman of the company, Obong Cyril Nta disclosed that the reforms programmes will bring about the much needed economic growth and create favourable business climates for businesses in the country.
He said, "We are hopeful that the on-going political and economic restructuring programmes by the federal government, would engender continued economic growth, stabilize the polity and usher in more favourable business climate as well open up opportunities and benefit to intensive marketing efforts."
He commended the federal government for the on-going crusade by both the Economic and Financial Crimes Commission (EFCC) and the Independent and Corrupt Practices and Related Offences Commission (ICPC) to enforce discipline and check corrupt practices in the country.
He urged the government to provide stable and uninterrupted power supply, improve infrastructure, particularly roads, and discourage arbitrary hike in prices of petroleum products which is often the main cause of strike and disruption of work.
The company posted a turn over of N1.1 billion in its 2006 financial year, representing 12 per cent increase over last year's figure of N986.7 million.
Nta disclosed that the improvement in its turnover was occasioned by the introduction of two new products, Becks Beer and Champ Malta.
He said, "Despite that fact that the introduction of the two new products into the market accounted for a loss of N422.5 million in our 2006 financial year, it contributed immensely in boosting our turnover. We are optimistic that they will make tremendous impact on our financials in the coming years."
He disclosed that as a follow up to the introduction of the products, it made huge investments in plants and machinery, marketing and advertisements.
"These new products accounted for the 120 per cent increase in selling and distribution expenses from N139.6 in the year 2005 to N312.3 million in 2006. It also accounted for the 107 increase in depreciation charges from N113 million in 2005 to N234 million interest charges. All these contributed to the increase of 335 per cent loss after tax," he explained.
He however noted that the huge investments accounted for the significant capital appreciation of the company as the Net Assets per share of the company increased during the period by 117 per cent per cent from 64 kobo per share in 2005 to 139 kobo per share in 2006.
He said, "We believe that before long, all these current expenditures in marketing, advertisements and fix assets will start translating to both appreciable turnover and favourable profitability." Nta maintained that the company recently won the International Standard Organization (ISO) award, thus, demonstrating the fact that its products were of high and excellent quality and standard.
He expressed optimism that the future of the company would become more enviable and brighter because of its quality products, national spread and the encouraging acceptability by consumers.
01 February, 2008


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Saturday, March 28, 2009
☞ CULTURE: Harlem Rowing Part Deux
The New York Times has posted some paintings from Brooklyn's current show on 19th century impressionists that reminded us of our past post on Harlem Rowing. Albeit from Europe, many of the pieces in the exhibit, like the one above, not only illustrate the fashion of rowing at the time, but also provide a rare sense of color not available in period photographs. The Times article reminded of internationally-known, Harlem-based designer Rod Keenan (see previous post). The hats that he creates (such as the lower photo) are modeled after historic styles but updated with color and materials. They are sold at Barney's, but he does take custom orders. Truly bespoke. Link to Keenan site. New York Times Arts link.


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Starbucks Corp. can move to Cuba, but it still cannot sell lattes there.
The Obama administration on Friday tore down barriers to U.S. companies doing business on the Communist-ruled island just south of Miami, but plenty of regulatory and legal roadblocks remain on both sides of the Florida Straits.
Airlines and cruise ships will see less meddling with their schedules, although the new rules approved by President Barack Obama will not lead to a significant boost in visitors, as U.S. law still prohibits most Americans from traveling there.
But Starbucks can still not sell prepared drinks like a latte or a cappuccino, only packaged coffee, said John Kavulich, president of the U.S.-Cuba Trade and Economic Council Inc.
The new rules of engagement have opened the door for Internet companies, but a Cuban government-owned company has the local monopoly on Web services. The prospects for retailers and restaurants are murky. Cuba’s mostly poor population of 11 million has limited spending power and remaining U.S. law tightly restricts what can be sold to the former Cold War foe.
And then there is the biggest wild card of all: the Cuban government, which will have the final say on who is licensed to do what.
“You don’t just go down to Cuba and hang up your shingles. That’s not how it operates,” said Kirby Jones, head of Alamar Associates, which has advised companies on business in Cuba since the 1970s. Starbucks, for one, said it had no plans to enter Cuba.
To be sure, executives described the relaxing of U.S. rules as an important step toward opening up the Cuban economy to U.S. investment in a wide range of industries.
United Parcel Service Inc. said it “welcomes the opportunity to provide logistics services in and out of Cuba as regulations are changed.” A spokeswoman for Archer Daniels Midland Co., which has exported goods to Cuba under existing regulations, said the agribusiness group “will be ready to adapt to new opportunities as they arise.”
U.S. telecoms Verizon Communications Inc. and Sprint Corp. on Thursday and Friday said they planned to offer cell phone roaming in Cuba.
But other companies showed a more cautious tone. Both Wal-Mart Stores Inc., the world’s biggest retailer, and home improvement chain Home Depot Inc., said they were focused on growing in their existing markets. Kurt Jetta, head of the TABS Group, which provides consulting for some of the top consumer and retail firms, said “we have over 50 clients, and no one is talking about Cuba.”
While the new regulations would allow U.S. companies to open retail outlets, there are limits on what can be sold based on U.S. trade law enacted in 2000.
It is these restrictions, along with uncertainty over what the Cuban government will allow, that should keep U.S. executives cautious about the potential for business in Cuba. The new rules started a process that would take time, he added.
“Obama took a sledgehammer to U.S. regulations today, but he’s 50 percent of the equation,” Kavulich of the U.S.-Cuba Trade and Economic Council said. “No one should be fueling up their corporate jet and filing a flight plan for Havana today.”
The new rules do not allow U.S. companies to extend credit to Cuba nor do they permit Cuba to use dollars in international transactions.
Even if such rules were eased, non-U.S. companies that do business in Cuba right now are working with credit terms of anywhere from nine months to two years, said Gary Heathcott, a special consultant to CJRW, an advertising and public relations firm in Arkansas, who soon will be traveling to Cuba with Arkansas Gov. Asa Hutchinson and representatives from businesses such as farmer-owned cooperative Riceland Foods.
“They are a cash-poor country,” Heathcott said.
Just getting there remains a hurdle, with a prohibition on regular scheduled flights still in place. The new regulations allow U.S. airlines to set up local offices, and to hire Cuban nationals as gate agents, airline sources said.
Some former Cuban companies want a lot more.
On the heels of the 1959 revolution, communist leader Fidel Castro’s government seized privately owned homes and businesses and nationalized all foreign businesses with little in the way of compensation or restitution for Americans.
Bacardi, the largest privately held spirits maker in the world, was among the most successful companies in Cuba before its Cuban assets were seized by the government and its founders exiled in the 1960s. In a statement, the company said it was too early to comment about a possible return to the island nation.
“We believe that the issue of properties expropriated from U.S. citizens and Cuban Americans will need to addressed,” a Bacardi spokeswoman said in an emailed statement.


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Looks like the Phoenix-based chain, Sprouts, is in talks to merge with Albertsons!
An article from Bloomberg says the two supermarkets are in early conversations about the chains merging together.
As of today... Albertsons employs about 15,000 workers here in Arizona and Sprouts which is about 4,000. Plus... Sprouts as of now has 36 stores in Arizona.
Do you think this is a good idea?
Source: AZ Central


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Oct. 22, 2020 7:03 am ET
When IAC/InterActive Corp. announced its acquisition of Care.com last December, it couldn’t have foreseen the coming bonanza.
Not that it needed much luck. Barry Diller’s holding company is famous for incubating promising online platforms, including Match Group, Expedia Group and Ticketmaster. The Care.com deal itself, which was announced just one day after the company said it would spin off its largest asset in dating giant Match Group, was a bargain. The announced $500 million purchase price implied a 34% premium to Care.com’s share price last October, when rumors began circling across Wall Street of a potential acquisition, but a 42% discount to the stock’s 2019 high. Earlier last year, Care.com lost nearly 70% of its market value in just five months, in part because a Wall Street Journal report revealed limited vetting practices on its consumer platform.
At the time of the acquisition announcement, IAC said Care.com was already the global leader in what it pegged as a $300 billion family-care market in the U.S. alone. Now, Covid-19 is making what was a promising service into a necessity for many U.S. families with babies, school-age children or elderly dependents.
Just eight months into its new ownership, IAC says it has seen a triple-digit percentage increase in demand on Care.com’s U.S. consumer platform since the pandemic hit, driven by more families looking for in-house child care, learning “pod” matching, facilitators for children’s remote schooling, older adults seeking in-house companionship help and a trend away from senior-care facilities. For reference, last year Care.com’s U.S. consumer platform grew just 3% year over year in the third quarter.
Care@Work, which provides corporate child care, has been perhaps the brightest star for Care.com over the past several months. IAC said this business has seen 140% growth in bookings this year and is about to close the third quarter with record bookings, having grown its client base by nearly a third since March. Doubling down on this market, Care.com has agreed to acquire LifeCare, which provides family-care benefits to roughly a third of Fortune 100 companies, significantly increasing the number of covered lives under the Care.com portfolio and providing a lucrative opportunity for cross-selling other Care.com platform products.
But not all of Care.com’s recent growth can be chalked up to the pandemic. IAC has given the company a new leadership team, including appointing in-house executive Tim Allen as chief executive officer in February, replacing Care.com’s founder. It also recently added a new head of safety who was previously responsible for screening and integrating safety at Uber. Perhaps most important, Care.com says it now performs background checks on 100% of care providers on its digital platform.
The third quarter is typically Care.com’s peak season as parents look for back-to-school care for their children. This year’s back-to-school season could be even more valuable to the company. Many parents are desperate for full-time child care and teaching aides without children physically in school. While Care.com is still a small piece of the IAC story—currently housed in its “Emerging & Other” segment, which generated just 15% of its total revenue in the second quarter—its growth should help boost IAC’s revenue when it reports earnings on Nov. 5.
It could use the help: Year-over-year revenue growth from its largest asset, ANGI Homeservices, has decelerated from the 21% pace it posted in February, hitting just 9% in September. With Match Group gone, investors have had high hopes for an ANGI turnaround story or an even smaller asset such as video-hosting platform Vimeo to emerge as the next “it” company under the IAC umbrella.
Care.com could fill that starring role ahead of schedule.


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J.C. Penney has canned another executive and replaced him with a member of the old guard. And the latest management shakeup could spell the end of the retailer's style revolution.
Earlier this month, CEO Ron Johnson was replaced by his predecessor, Myron Ullman. Now the man he appointed to overhaul the retailer's apparel collections, Nick Wooster, has also been given the boot and will reportedly be replaced by his own predecessor.
The New York Post reports that the menswear style icon has been fired as executive vice president of private brands, a position he has held since last April. As with Johnson, he will be replaced by the man who used to occupy his office -- in this case Ken Mangone, who left the company when Johnson first took over.
With Johnson and Wooster's departures, we may be seeing the beginning of the end for J.C. Penney's attempt to remake its image.
Under the two executives, it wasn't just coupons that disappeared: Loyal customers also saw the inexpensive, "basic" clothing collections disappear from shelves, to be replaced by stylish jeans bars and boutiques from brands like Joe Fresh. Dozens of disaffected shoppers told us that the new clothes, clearly directed at a younger generation, had driven them to take their business to competitors like Kohl's and Macy's.
Shortly before Johnson got the boot, J.C. Penney Co. (JCP) CFO Ken Hannah acknowledged the apparel disconnect, and said that older brands like St. John's Bay would soon make a comeback. Now that Wooster has been ousted as creative director, don't be shocked if that concession becomes a full-blown retreat. That might please some older customers, but it's tough news for the younger, style-conscious shoppers who had started to discover that J.C. Penney was transforming itself into a source of inexpensive, stylish clothing.
And investors don't seem too impressed, either: While the share price spiked on the news that Johnson was on his way out, it quickly dipped again when it was revealed that the old boss would be coming back. As bad as things were under Johnson, it's easy to forget that the company wasn't exactly thriving under old management. Bringing back the old guard and rolling back the big changes might right the ship temporarily, but in the long term it does nothing to address the company's underlying issues.
We don't know for sure that Mangone will completely reverse Wooster and Johnson's apparel strategy. But if you were thinking of heading down to J.C. Penney to check out the new styles, you might want to do so before it's too late.
Matt Brownell is the consumer and retail reporter for DailyFinance. You can reach him at Matt.Brownell@teamaol.com, and follow him on Twitter at @Brownellorama.
J.C. Penney: Out With the New, In With the Old
Ron Johnson's short tenure as J.C. Penney's (JCP) CEO will go down as one of the biggest flameouts in corporate America. The former Apple executive was hailed as a big thinker when he was hired by the ailing department store chain, but his radical moves ended up alienating shoppers, sent sales plunging, and left the company in even worse shape.
He lasted 17 months.
But Johnson isn't the only executive to be pushed out after failing to live up to big expectations. Here's a look at some of the other major ousters in recent times.
The Internet company Yahoo! (YHOO) hired technology veteran Bartz in 2009, with the goal of bringing in a no-nonsense leader who would develop a clear vision. Bartz shook up Yahoo's management and instituted a cost-cutting program that helped boost the company's earnings. But revenue failed to grow even as the online ad market expanded at a rapid clip.
Bartz, known for her very direct approach and sometimes-colorful language, stressed that a turnaround would take time and pleaded for patience from shareholders, pointing out that it took Steve Jobs years to revive Apple after his return in 1997.
But after more than 2½ years of financial lethargy, Yahoo ousted Bartz in 2011. The company's chairman fired her over the phone, according to an email Bartz sent from her iPad that was obtained by the All Things D technology blog at the time.
When HP (HPQ) hired Apotheker in November 2010, it was seen as an aggressive push by the company into the software business. But many analysts mocked the choice, considering that Apotheker had just been forced out of his previous job as CEO of German business software maker SAP AG following ill-timed price hikes and widespread employee dissatisfaction.
Apotheker was supposed to be a steady hand to steer HP out of a tumultuous time but his strategic decisions were drastic and did little to inspire confidence. He was doomed by disappointing earnings and a fumbled announcement that the company's personal computer division was for sale. Even as he struggled, Apotheker complained that HP suffered from years of under-investment by his predecessor, Mark Hurd.
Apotheker also was one of the chief backers of HP's acquisition of British software company Autonomy Corp. HP paid $10 billion for Autonomy, but later said it was deceived by improper accounting and overpaid.
Conaway had won many fans on Wall Street as the No. 2 executive at CVS (CVS), where he helped build the drugstore chain into an industry powerhouse. When he was hired by Kmart (SHLD) in 2000, Conaway inherited a company with a long list of entrenched problems, including outdated technology and drab stores.
Analysts say Conaway made strategic mistakes, such as trying to compete with Walmart on price and focusing on exceedingly cheap groceries rather than on its exclusive Martha Stewart brand. In early 2002, Kmart filed for Chapter 11 bankruptcy, and Conaway resigned soon after.
Conaway also faced accusations that he misled investors about Kmart's financial problems before the bankruptcy filing.
The bankruptcy led to Kmart coming under the control of Edward Lampert, a billionaire investor. Lampert later engineered the acquisition of Sears, Roebuck & Co., combining the companies into Sears Holding Corp.
Nardelli was hailed as an outsider who could help save the U.S. auto industry by private equity firm Cerberus Capital Management, which installed him as the head of Chrysler in August 2007. But Nardelli, who spent most of his career in the executive ranks at GE before leaving to run Home Depot, had no experience in the complex business of auto manufacturing, and it showed.
Instead of investing to improve Chrysler's substandard lineup, Nardelli focused on cutting jobs and closing plants. He alienated suppliers and dealers, who revolted when Chrysler announced plans to close dealerships and stopped financing leases. And he was gaffe-prone, at one point mistakenly telling Wisconsin's governor that an engine plant in his state would remain open.
By the time the financial crisis hit in the fall of 2008, Chrysler was in serious trouble. Nardelli testified before Congress and obtained loans to help the company survive, but it was too late. Chrysler filed for bankruptcy in April 2009. When Chrysler exited bankruptcy that June, Nardelli was out and Fiat CEO Sergio Marchionne took over.
Grocery store operator Supervalu brought in Herkert in 2009 with the hopes that the high-ranking former Walmart executive could spark a turnaround for its struggling fortunes. Supervalu (SVU), which was one of the country's biggest grocery store operators at the time, was struggling with growing competition at big-box retailers, drugstores and dollar stores.
Under his tenure, Herkert tried positioning Supervalu as a neighborhood store and emphasized low prices. But sales and profitability kept sliding and last summer, the company suspended its dividend and announced plans to potentially put itself up for sale. A few weeks later, Herkert was out.
In January, the company announced that it was selling five of its major chains and focusing on its Save-A-Lot discount stores and smaller regional chains.
Rollins joined Dell (DELL) in 1996 and held a variety of roles before becoming CEO in 2004, including chief operating officer, vice chairman and president of Dell Americas.
The company had been struggling with a market glut of low-cost, low-profit PCs and weaker-than-anticipated sales of its pricier, more lucrative desktops and notebooks. In 2006, it lost its No. 1 position in the industry to rival Hewlett-Packard Co. In addition to disappointing earnings, Dell had recalled more than 4 million potentially flammable notebook batteries made by Sony in August 2006. The company's accounting practices had come under federal scrutiny as well.
The key parallel between Rollins and Penney's Johnson may have been overpromising. Rollins took the reins of a company doing a little more than $40 billion a year in business and painted pictures of bumping that to $80 billion -- which Dell has still not approached.
Rollins stepped down in early 2007. Founder Michael Dell took the CEO job back.


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PayPal's shares fall after eBay announces new payment partner
EBay said it will start processing payments globally using Dutch payments company Adyen, allowing its users to remain on the eBay website when checking out, APA reports quoting Reuters.
PayPal said eBay shoppers will still be able to select PayPal as a form of payment until at least July 2023. The news from eBay came as PayPal reported quarterly earnings that beat Wall Street estimates but gave a disappointing outlook for the first quarter. PayPal shares initially fell 5 percent after the release of the quarterly results.
The chief executive officer of PayPal, Dan Schulman, said on a call with analysts that the changing relationship with eBay was very “manageable” and that it was in line with PayPal’s new strategy.
EBay accounts for roughly 13 percent of total payments processed by PayPal.
PayPal was spun out of eBay in 2015 and has since been working to transform itself from a company that mainly processed payments for its parent company to one that processes payments for other large companies and their customers, as well as for individuals paying family and friends.
PayPal’s new strategic direction has led to partnerships with numerous large financial institutions and big technology companies including Alphabet Inc’s (GOOG.O) Google, Apple Inc (AAPL.O), Mastercard Inc (MA.N), Visa Inc (V.N) and JPMorgan Chase & Co (JPM.N).
San Jose, California-based PayPal forecast first-quarter adjusted earnings of 52 cents to 54 cents per share. Analysts on average were expecting 54 cents, according to Thomson Reuters I/B/E/S.
PayPal expects revenue for the full year of $15 billion to $15.25 billion. Analysts had been forecasting $15.16 billion, according to Thomson Reuters I/B/E/S.
PayPal’s focus on partnerships and acquisitions have been paying off with growth in payment volumes and users.
The company processed $131 billion in payments in the fourth quarter, up 32 percent from a year earlier, and added 8.7 million active customers.
PayPal has been looking to freshen its brand and deepen usage with younger customers through its peer-to-peer payments app Venmo. Venmo processed around $35 billion in payments in 2017, up 97 percent.
PayPal’s net income rose to $620 million, or 50 cents per share, in the quarter ended Dec. 31, from $390 million, or 32 cents per share, a year earlier.
Excluding one-time items, the company earned 55 cents per share, beating the average analyst estimate of 52 cents, according to Thomson Reuters I/B/E/S.
Net revenue climbed to $3.74 billion from $2.98 billion.
The results included a net tax expense of $180 million connected to the recent U.S. tax reform, the company said.
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In Kemerovo have started to demolish the shopping center “Winter cherry”
In Kemerovo began the demolition of the shopping centre, “Winter cherry”, machinery clearing the site of debris, reports TASS.
In a press-service of the city administration, the Agency said that July 14 will be dismantled outdoor equipment, and rescue with hydraulic tools that will dismantle the barriers on-site and ventilation equipment on the roof of the shopping center. The special equipment which will deal directly with the analysis of the building will come from Yekaterinburg on July 16.
The fire in the shopping center, which occurred on March 25, 2018, killed 60 people, including 37 children. In the list of victims in the criminal case more than 250 people. After the incident, the emergencies Ministry and the Prosecutor’s office inspected the shopping centers across Russia, the result was a closed one-third of commercial properties.


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Collagen, lip liner, perfume and miniatures are four of the beauty products that have been “must-haves” over the past 12 months and will be key in 2022, John Lewis said in its latest Beauty Bets report on Wednesday.
New retail sales data may show that fashion was a leading category in November, but there are signs that mounting Covid fears are undermining the UK’s interest in getting dressed up and going out this party season.
Regardless of how Covid-linked events play out this month, the appeal of party season staples was strong in November with data from Clearpay showing high demand for going-out looks on Black Friday and Cyber Monday.
London landlord Shaftesbury has delivered an impressive record in terms of attracting a host of new retailers and increasing footfall to its properties. it has signed over 60 new brands since 1 October 2020.
Heritage, adventure and fashion combine in one place this month with luxury British performance outerwear brand Shackleton opening a pop-up store for a third consecutive winter, this time on London’s Regent Street.
More evidence came through on Tuesday showing that fashion was a key driver of retail spending in the UK last month. Two regular monthly reports (from the BRC and Barclaycard) called out fashion as a star category.
The old saying ‘try before you buy’ could have a big influence on beauty purchases this Christmas as consumers choose the high street over online and 'fast beauty’ is being rejected by many, a survey claims.
Burberry is putting plenty of support behind its outerwear this season and has opened its latest Imagined Landscapes pop-up with a debut at Selfridges in London where it already has a large concession.
Hotter is a footwear brand that's riding the wave of older consumers switching to online shopping, as well as the comfort trend that's permeating the footwear market from the high-end to the mass-market.


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Apple’s popular smartwatch is getting an update, called the Apple Watch Series 6, with a key new health sensor, as well as features focused on making the gadget easier to use with kids. The new sensor for the Apple Watch can measure your blood oxygen level in 15 seconds, Apple said, and will also track your blood oxygen in the background. The feature adds to 2019’s Apple Watch Series 5, which Apple used to introduce technology that enabled an always-on display, turning its Watch into more of a watch, as opposed to the wrist computer some people consider it to be.
Apple Watch Series 6: $399 at Apple
“The future of health is on your wrist,” Apple said in one of its promo videos.
Apple also announced new services for the device


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SAINSBURY’S has increased the minimum cost of pumping up tyres at its garages to 50p – bringing it in line with Tesco, Morrisons and Asda.
The store had until recently been the cheapest major supermarket for tyre pumping, offering 30p for three minutes after ditching free air last year.
It's now 50p for five minutes.
The change has hackled off motorists who say it’s another way of wringing them for more money.
One wrote on Twitter: “The tyre pressure machine at Sainsbury’s Banbury went up from 30p to 50p.
“It has always been 30p. Now they hike it 66%. Same machine. Just a sticker over the price.
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“OK, it’s a small thing. But there are so many opportunistic price rises happening now.”
Sainsbury’s said the change had been made in response to customer feedback, and that the cost was competitive and in line with the wider market.
Last year the supermarket also replaced its free water for £1 screenwash.
The AA recommends drivers aim to check their tyre pressure every two weeks as driving with them over or under inflated can be dangerous.
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It said tyres at the wrong pressure can increase stopping distances, making crashes more likely.
One way around the forecourt cost is to buy a portable inflator, which can be bought for £12.99 from Halfords.
If you used it every fortnight – as recommended by the AA – instead of going to a supermarket garage, you’d get your money back in a year, or quicker if you have more than one car.
Going to other petrol garages may cost you even more.
Shell currently charges £1 for seven minutes of air pumping.
Sainsbury's recently announced a major change to the way its Nectar card points are collected.
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I love a juicy pout… I went from 0ml to a whopping 13ml over the years
The supermarket chain has also released its Christmas 2022 advert.
The festive ad features This Morning's own Alison Hammond as a fussy countess.
Source: Read Full Article


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Former Peter Pan manager will oversee OBI Seafoods’ domestic canned salmon sales
John Daly has joined OBI Seafoods, the entity formed by the merger of the Alaska operations of Ocean Beauty Seafoods and Icicle Seafoods, as the company’s manager of domestic canned sales.
Daly, the former director of sales and marketing at Peter Pan Seafoods, will manage OBI Seafoods’ domestic canned salmon program, from pre-season and demand planning to sales, promotions, and customer relationships, the firm said in a 28 January press release.
OBI Seafoods is now Alaska’s largest producer of canned salmon, which puts Daly in a pivotal position for the business, according to OBI Seafoods CEO Mark Palmer.
“We are excited to add John to our experienced leadership team,” Palmer said.
Daly's history with Peter Pan Seafoods will be a boon for OBI's canned sales, he added.
“Canned sales are a big part of our business and we couldn’t have picked anyone better to lead our domestic program,” Palmer said. “His expertise will be highly valued in bringing together the Ocean Beauty and Icicle canned salmon product lines to create the best canned salmon offerings and developing marketing programs to increase sales and value for our customers.”
Daly spent the past 11 years at Peter Pan. He got his start in the canned salmon segment on Peter Pan’s quality control team at its King Cove plant before moving into export and domestic sales. From there, Daly moved onto the management track, overseeing all aspects of the company’s canned business as its category manager.
“I am excited to join the dynamic OBI Seafoods sales team and be a part of a company with such a strong heritage in salmon canning,” Daly said. “OBI is the largest producer of Alaska canned salmon, so I am thrilled to bring my expertise to the company and help maximize the value, reach, and sustainability of Alaska seafood.”
Daly’s official start-date is set for 1 February, 2021, OBI Seafoods confirmed.
Photo courtesy of OBI Seafoods


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Bookmaker Ladbrokes has officially stated that it will continue to take bets on the vertical, responding to news reports that it had closed down its eSports market.
eSports Betting Report was the first to notice that the online bookmaker had taken eSports off the virtual shelf. The reports by esportsbetting.com stated that eSports would no longer be offered as a market, and Ladbrokes cleared up these rumours.
The bookmaker detailed that the rumours of its eSports closure were simply a misconception between the news source and its customer support services. It stated that its eSports market had been closed temporarily in order to carry out improvements to the vertical.
Commenting on the matter, PR Manager and Head of Ladbrokes News, Alex Donohue, said: “We have been in the process of upgrading our eSports product. At no point have we decided to stop taking these bets, and we will shortly have more markets available to all our customers.”
Ladbrokes is a British-based betting and gambling company that aims to provide its customers with an enjoyable experience available from its shops to its website, mobile app, and phone services to make betting simple and fun.
Ladbrokes will also be showcasing at the biggest upcoming gaming event of the year – SiGMA16. If you are interested in coming to watch Ladbrokes as well as the many other great exhibitors at this iGaming summit in November, click here to register today.


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KPCB have recently released their Internet Trends Report for 2014 and the results are staggering. Key points include a global slowing down of internet and smartphone take up but an astronomical rise in both usage and ownership of tablet devices. Included in the report:
- Os provider comparisons
- Global Internet usage
- Growth of tablet
- And the growth of monitisation of apps vs advertising
This report is perfect for any publisher or online enthusiast. If you like the report please visit www.kpcb.com for more information.


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Tesla has grown to be the most important as well as (by a few measures) the foremost rewarding car maker inside the planet, But a short while ago it almost toppled directly into bankruptcy.
CEO Elon Musk tweeted this week the company was inside a month of filing for bankruptcy in the event it was struggling to take its best-selling car, the Model 3 sedan, to promote.
“Closest we got was regarding a month,” he said when requested through Twitter just how near Tesla obtained to bankruptcy. “The Model 3 ramp was pain and stress and anxiety extreme for a long time – as a result of mid 2017 to mid 2019. Creation & strategic planning hell.”
Tesla was in a major cash crunch as losses mounted which struggled to impact a variety of output targets due to the Model 3. But Musk had not previously disclosed the organization was near to filing for bankruptcy — though he did joke about a bankruptcy filing within its own tweet on April Fool’s Day in 2018.
Tesla shares sink seven % even with capture automobile sales
Today, Tesla’s struggles appear to be early heritage.
Tesla has recently described shoot, experienced income, an industry leading profit margin as well as robust cash flows. And also the stock has responded in type, with shares of Tesla (TSLA) soaring much more than 400 % this year.


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Girls star Zosia Mamet looks ready for bed as she wears pyjama ensemble and slipper shoes for New York Fashion Week party
She’s known for her quirky fashion sense and Girls actress Zosia Mamet proved she loves the unconventional with another out there ensemble at New York Fashion Week.
The 25-year-old chose a bizarre pyjama-like look for a dinner and presentation from designer Rachel Comey on Wednesday evening.
The actress looked like she’d rather be in bed than on the front row as she attended the fashion bash in Brooklyn.
Ready for bed: Actress Zosia Mamet attends the Rachel Comey party at New York Fashion Week in a quirky jumpsuit
Zosia was one of many style lovers at the party held at Pioneer Works Center for Arts & Innovation, as part of the Spring 2014 Mercedes Benz Fashion Week in the city.
The actress turned up in what looked like a pair of PJS, in a quirky printed jumpsuit which was buttoned up the collar.
Just to add to the bedtime inspired look, Zosia swapped her heels for a pair of on trend black slipper shoes and added a silver necklace and some round retro shades.
Wearing her heart on her hand: The Girs star was spotted with a hand drawn heart on her palm as she chatted to artist Dustin Yellin
With her brunette locks slicked into a side parting and natural make-up the actress proved that high fashion can be seriously comfy too.
Of course, the 25-year-old is used to being the centre of attention thanks to her cunning clothing choices.
So much so she was recently selected to star in the latest campaign for Stone Fox Bride.
Fashionable pair: Zosia Mamet hung out with artist Dustin Yellin at the Rachel Comey fashion bash
Style queen: Zosia showed off another quirky ensemble with her jumpsuit and natural hair and make-up
Zosia, who plays Shoshanna Shapiro in Lena Dunham's hit show, also went for a daring look when she appeared on the Late Night with Jimmy Fallon Show in February.
The funnyman did not know where to look after she slipped into a red velvet keyhole dress, which displayed plenty of cleavage and side boob.
Nice legs: The Office star Rashida Jones was also spotted at the Rachel Comey dinner, showing off her tanned legs in an over-sized jacket
Zosia was joined by a host of stylish celebs for the Rachel Comey party including The Office star Rashida Jones who showed off her tanned legs in an over-sized black blazer, printed shirt and very little else.
The 37-year-old had smartened up after being spotted earlier in the day in a casual denim shirt and high-waisted trousers as she strolled around New York with a mystery man.
Fashion lover: Parker Posey chose a black midi dress for the stylish party
Designer Rachel Comey (left) hosted the party for stars including actress Greta Gerwig (right)
Representing the men: Peter Sarsgaard looked dapper in his smart jacket and jeans
The couple looked cosy as they walked arm in arm with Rashida, who has dated Tobey Maguire and Mark Ronson in the past, looking pretty in her retro shades.
Joining Rashida and Zosia at the Rachel Comey event was actress Parker Posey who opted for a chic midi dress, paired with a pair of clog style shoes.
Peter Sarsgaard represented the men at the bash, turning up without his stylish wife Maggie Gyllenhaal. The actor looked dapper in his grey jacket and jeans.
From causal to high fashion: Rashida Jones smartened up for the Rachel Comey party after a dressed-down stroll with a mystery man earlier in the day
Who's the guy? Rashida walked arm in arm with her companion through the city streets
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Australia, October 30th, 2015 -- Thermo King Australia worked with its dealer Transport Refrigeration Services in Sydney to successfully deliver a multi-temp refrigerated truck package for Australia’s largest supermarket chain, Woolworths. The supply contract was over two years to deliver more than 450 trucks equipped with Thermo King’s V-500 Spectrum units to grow Woolworths online supermarket business.
Davidson, NC, Oct.15, 2015 – Ingersoll Rand (NYSE: IR), a world leader in creating comfortable, sustainable and efficient environments, announced at the White House HFC Reduction Roundtable, progress on its Climate Commitment to reduce greenhouse gas emissions from its products and operations by 2030.
Swords, Ireland, Sept. 10, 2015 – Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, has been named to the 2015 Dow Jones Sustainability World and North America Indices for the fifth consecutive year. Ingersoll Rand’s placement on this index series further solidifies its position as an economic, environmental and social leader in its industries.
Thailand, September 10th, 2015 — Recently, the Thermo King Thailand team landed an important deal with a local body builder Itthiporn Group, who provides buses for Thailand Military. This is the first bus order in Thailand, opening doors for Thermo King in Thailand’s bus market.
Bangkok, Thailand July 27th, 2015 — Recently, Thermo King, together with its Thailand dealer, exhibited at the first Asia Cold Chain Show (ACCS 2015) held in Bangkok, Thailand, from 22nd to 24th July. As the first event on cold chain industry aimed for the whole ASEAN region, the ACCS 2015 has attracted over 100 exhibitors from 15 different countries. Thermo King displayed products from various series during the show, which attracted lots of attention from audience.
Davidson, N.C., July 22, 2015 – Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, is included on Green Builder Magazine’s 2015 list of Eco-Leaders. Companies recognized as Eco-Leaders proactively strive to make the world a better place to live through innovations in conservation, waste reduction and reduced carbon emissions.
Bangalore, India, June 18 to 20, 2015 — Thermo King Asia Pacific Training Center held hand with Ingersoll Rand Engineering Technology Center (IRETC), together they carried out the service and sales training for Thermo King Authorized dealers along with Thermo King sales & service team in Bangalore, India. The training paved the way for TK-COOL series’ Indian market product launch.
China, May 26th, 2015 — Days earlier, a three-day training program was
held in Xi’an to support the “belt and road” project.15 employees from
Zhen Te Mei – one of Thermo King’s dealers with offices in Shaanxi,
Yinchuan and Shanxi provinces, participated in this training. The
trainer made an on-site explanation, introducing content for
truck& trailer’s refrigerating units and bus air-condition’s
preliminary to intermediate installation process and its
Brisbane, Australia, May 20, 2015 - Thermo King Australia participated in the bi-annual Brisbane Truck Show which was held at the Brisbane Exhibition and Convention Centre on the 14 to 17th May this year. Despite flat growth in truck and trailer sales over the last year, the industry put on a strong show with over 300 exhibitors and more than 33,000 visitors at the largest truck show in Australia.
Brussels, April 20, 2015 - Thermo King a manufacturer of transport temperature control solutions for a variety of mobile applications and a brand of Ingersoll Rand, announced today that its SLXe trailer refrigeration units, are available with the next generation refrigerant, R-452A, in Europe.
Swords, Ireland, March 5, 2015 – Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, announced today it has completed the acquisition of FRIGOBLOCK. The transaction was closed on March 4, 2015 for €100 million.
Davidson, N.C., January 26, 2015 – Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, is pleased to announce another milestone in achieving its climate commitment, a roadmap to significantly reduce the environmental impact from its operations and product portfolio by 2030.
Shanghai, January 5, 2015 — Recently Thermo King won the “Chinese Top10 Cold Chain Transport Equipment Technology Service Providers” in the 8th China Cold Chain Industry Annual Summit held by the China Federation of Logistics and Purchasing (CFLP).
Swords, Ireland, Tuesday, Dec. 9, 2014 – Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, today announced it has entered into an agreement to acquire FRIGOBLOCK for €100 million. The acquisition is expected to close in the first half of 2015, subject to regulatory approval. - See more at: http://prod-auth1.ir.3sharecorp.com/content/tk-innovation-ap/region/en/news---events/news---events1111.html#sthash.YHEGgenb.dpuf
New York, September 22, 2014 – Ingersoll Rand (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, stands on the global stage this week as part of the 2014 CGI Annual Meeting and United Nations Climate Summit to declare the importance of, and the company’s commitment to, reducing greenhouse gas emissions.
Thermo King Japan participated in the Tokyo Truck Show held at the Tokyo Big Sight (Tokyo International Exhibition Center) from October 24 – 26. Approximately 681 exhibitors showed their products at the show, and more than 41,000 visitors attended.
In early March, Thermo King Corporation & Thermo King New Zealand Ltd participated in the Transport and Heavy Equipment Expo, held at the Mystery Creek Events Centre near Hamilton, New Zealand. More than 13,000 visitors and 200 exhibitors took part in this show. Thermo King showcased feature products and won favorable market recognition, strengthening our image as the world leader in transport temperature control systems.
Thermo King is the first transport refrigeration manufacturer to receive Environmental Protection Agency (EPA) and California Air Resources Board (CARB) certification for 2013 model year engines greater than 25 horsepower and has done so without the use of a diesel particulate filter.
Thermo King won the Hangzhou city bus project with its new product, the TK-COOL series, on July 6, 2012. This win makes a breakthrough in Hangzhou 10.4m city bus project. It’s said that these new buses with Thermo King’s C-1000 will be applied in Hangzhou by this August.
Thermo King won the Xinjiang Bus Rapid Transit (BRT) project once again with its superior product, the ASR160 HVAC, on July 17, 2012. Besides the millions in sales revenue it brings to Thermo King and Ingersoll Rand, this project also reinforces Thermo King’s leading position in the transport temperature control industry.


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Electric car startup Canoo has announced that it has acquired a manufacturing facility in Oklahoma City for the production of the Lifestyle Delivery Vehicle and Lifestyle Vehicle Vans. It notes that the proximity of roads and railways is an advantage for production. Canoo expects deliveries to start in 2023.
Canoo has said the facility will hire 500 people and will be equipped to rap to produce 20,000 units by the end of 2023. It is a 120-acre facility and will even include a dedicated training centre.
“Today we are excited to announce our manufacturing facility, which begins our path to scaled production in 2023 and delivers on our plan to bring high-paying light-blue collar jobs to Oklahoma. The Oklahoma City facility has significant room for expansion and is a proven location for large-scale production, with an established transportation ecosystem, including rail,” said Canoo CEO Tony Aquila.
While this is happening, Canoo is also working with contract manufacturers to achieve the start of production on its own this month. The initial builds will happen with the contract manufacturers and then Canoo will shift all the equipment to the new facility during the first half of 2023 with a production ramp scheduled for the 2nd of half of the year.
Canoo will adapt the new facility to accommodate a full vehicle assembly line with cutting-edge robotics, a paint shop and an uplifting centre. It has other facilities in Pryor, Oklahoma as well and like those this new manufacturing plant in Oklahoma City will be powered by fully sustainable energy which is kind of obvious for an electric car startup.
This is not the only manufacturing play announced by Canoo as it recently announced a battery module manufacturing facility and a MegaMicro Factory in the MidAmerica Industrial Park in Pryor, Oklahoma. The MegaMicro Factory will also include paint, a body shop and a general assembly plant which employs more than 2,000 people.
Canoo has its headquarters in Bentonville, Arkansas and there are plans to establish an R&D centre and advanced industrialisation and low-volume production facility for small package delivery vehicles which it has been making for Walmart.