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Londoners today should be in a grip of panic, after the controversial testing between O2, Barclaycard, Transport for London (TFL) and Nokia was given the green light, as reported by the London Evening Standard.
Mobile phones to be used as Oyster and credit cards
“It is also hoped the system, which could be in place by next year, will be used to pay for entry to certain 2012 Olympic events…”
Being marketed as the “O2 Wallet”, the Nokia 6131 NFC (Near Field Communications) mobile handset is linked technically to an OysterCard, the cashless systems used across London’s travel network, along with ‘Wave-and-Pay’, the wireless payment systems introduced by Barclaycard Visa. All are using RFID (Radio Frequency Identification) back-end – and connected to the individual via a uniquely identifiable transmitter chip enabled on the back of a SIM card in their mobile phone.
In trial on 500 handsets since November 2007, benefits have been in being able to travel throughout London just via their mobile phone as well as providing the ability to purchase small items (under £10) in shops supporting the scheme, even book tickets and physically enter venues past security, all from a single device. No other cards required the need to carry a leather wallet and tattered tickets, notes and pocket full of change is being shown to be a thing of the past – a welcome appeal to most men no doubt! At least that’s what the hope of and marketing fluff of the proponents behind the technology will suggest.
The most sinister of things masquerade as an angel of light, and this is no exception.
Mobile phones are the trump card in tracking citizens as they are being carried continually by choice, unlike a passport. The personalisation of each device from covers to ringtones is what has brought appeal to adoption alongside the communication services it facilitates, combined with the desire of owning the latest cool gadget such as the iPhone. Supporting a unique ID number on every single RFID chip, the mobile therefore becomes enabled with a personally identifiable location-beaming system that can be read as far away as 300 feet plus, depending on the level of reader/transmitter in operation. It is a key stage in ushering in a personal identity card, right under the noses of the most astute advocates of privacy.
Most modern phones already are adopting GPS (Global Position Systems) revealing their location on maps charting their journeys (the iPhone even records locations of where photos are taken), and along with triangulation (working out location based on proximity to a phone mast), it is possible to narrow down someone’s relative location now. However, both require the device to be switched on. RFID does not necessarily need power and so is never switched off. It has an aerial surrounding a chip that can be picked up by a reader – whether low-strength such as the OysterCard readers in buses and tube stations or by more powerful readers allowing greater distances between chip and reader, such as those on door frames in shops or the overhead readers on public roads. From Razorblades, to DVDs to car number plates, RFID is the most invasive barcode for the future allowing each and every item, and not just groups, to be singularly tracked from production, to purchase, to refuse – without the need for a line-of-sight scan, like infrared and bar-codes currently.
All items using RFID are connected via the internet and continually transferring personal actions and locations, providing streams of data for someone to track legitimately (!) or otherwise revealing a comprehensive monitoring of habits, communications, purchases and pure real-time visibility to people’s physical location. Which products are where in a shop, street or home as well as who has what and where is all able to be interpreted on screen by anyone with ability or desire to do so. With proof of purchase needing to be able to be tracked, despite the wide-spread belief of RFID being disabled upon leaving a shop, this is simply not the case.
In short, it is the most detailed diary of someone’s life written on web pages that few will realise exist, and being able to be read by anyone with a vested interest in doing so; government, stalker or thief alike.
What is snide about this marketing concept is that many will see immediate benefits and adopt to the technology without thinking through any particular consequences to their personal privacy or where this will ultimately lead to. To most the change will go un-noticed, to others convenience and cost-effectiveness will be the means to justify an erosion of public and private privacy which, as Oystercard has already proven with adoption by 10M Londoners, people are happy to trade given sufficient PR spin.
One third of the population of the world carries a mobile phone, twice as many as those currently connected to the internet. When you consider mobile internet is being rolled out on more handsets, the growth of internet adoption can be doubled very quickly along with the scale for personal tracking on global proportions. It has not escaped noticed of those in office.
Britain already has RFID enabled passports, required for border control. Many countries require you to carry an identification card continuously. Toll roads such as the M6 in the UK have been playing with RFID car monitoring for years, negating the need for traffic cameras as they are monitoring every movement of the car. DVLA has already conducted trial of RFID-enabled e-license plates to be fitted on cars holding vehicle tax, registration and road-worthiness information linked to personal car insurance. From Tesco’s to Curry’s to Superdrug – everyday items in your shopping basket are being tracked and transmitting their positions even as I write.
Coupled with the proposed change in UK law over tracking all transmitted communications, verbal and written, this will create a spy-state being able to see where a person is at any moment in time – whether in personal or public transport, what they are up to, what they own , where it is, who is communicating with whom and about what.
It is the total erosion of privacy; endorsed by government, backed by business and facilitated through technology.
I, for one, am very, very afraid.
Scary stuff, and certainly worth a Digg: http://tinyurl.com/6n7vut
[…] Big brother tracking via mobile phones to be rolled out across London « Nothing to Hide? Mobile phones are the trump card in tracking citizens as they are being carried continually by choice, unlike a passport. The personalization of each device from covers to ringtones is what has brought appeal to adoption alongside the communication services it facilitates, combined with the desire of owning the latest cool gadget such as the iPhone. Supporting a unique ID number on every single RFID chip, the mobile therefore becomes enabled with a personally identifiable location-beaming system that can be read as far away as 300 feet plus, depending on the level of reader/transmitter in operation. It is a key stage in ushering in a personal identity card, right under the noses of the most astute advocates of privacy. […]
This is a complete abuse of trust, mobile phone networks should not be party to this type of abuse. If they are, then the public should be encouraged to boycott these companies. This is not a service, it is big brother, there is no need for the use of such technology.
[…] Dean thinks its a bit big brother – but I’m cool about this. In the UK we enjoy the luxury of having more webcams per capita than any other country in the world. We’re tracked wherever we go – and I feel quite safe knowing this. […]
I think the issue is a bit more complex. Even though in theory the government could track our every step, our every purchase, even what we watch on TV or listen to on the radio, the websites we look at, the emails we send and a lot more – a lot of the information is still spread across different organisations and would need to be brought together to give you the full picture. Big Brother would either have to hack into the Tesco system to get your shopping details or ask for permission officially and legally – and so far there this has only been asked for with respect to communications, that is phone calls and your internet browsing.
I do agree that Britain is becoming more and more big brother and a lot of measures are being introduced under the cover of being there to help us. My favourite example is the fair road taxing idea whereby all our cars are tracked by satellite so that we only pay as much tax as we use roads for. Now that sounds like a wonderful idea that will mean we are all going to be more careful about how much we use our cars. However, even though the government says that no detailed information would be kept, the technology would easily allow our cars to be tracked constantly – and that is very worrying.
Couple that with the latest anti-terror laws, which allow anyone to be held for a number of days without charge for example, and you start to get really worried.
However, despite there being more and more Big Brother technology in use today and our rights as citizens being curbed further and further, I still don’t think we’re quite there yet. I still believe in a democratic system whereby we, as citizens, need to make our thoughts clear to our government and ensure the proper measures and laws are put in place to prevent us being tracked legally – and that any undercover organisations, such as the secret services, are also properly controlled.
We can’t sit there and complain. We have to act and use our right to vote, write to our MP and do everything we can within our democratic structure to ensure Big Brother is being watched himself.


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In the old town of Kowloon City sits a decades-old corner shop that catches the eye of passers-by with a shopfront of bright red floral tiles and copies of comments praising its egg tarts, a custard confection synonymous with Hong Kong.
But the bakery – Hoover Cake Shop – will fade away into the pages of history from October 1 after it announced on Saturday it was to close down after almost 50 years in business.
Several dozen customers were seen queuing outside the shop on Sunday, and some said they wanted to experience the taste and shared memories of old Hong Kong one last time.
Lyla Ding, 40, an office worker, was among the regulars over the past two years and said she was shocked by the announcement.
“It has been here for decades. I thought it was a constant in the community,” she said. “It’s part of the legacy of Hong Kong’s past heyday. I’ll miss the handwritten menus and the aged decor the most. They are not seen elsewhere.”
The shop, which opened its doors 48 years ago, can barely house two customers at the same time, with an area of less than 100 sq ft.
But it has managed to pack a massive menu into its tiny footprint as, besides Western-style pastries like Swiss rolls and palmiers, Hoover sells Chinese baked treats such as almond cookies and red bean puffs.
The bakery was made famous by actor Chow Yun-fat, who is said to have visited the bakery often since 1979 and sometimes even volunteered behind the counter to sell its cakes.
The reasons for Hoover’s sudden closure are unclear, but it is believed that the shop owners may have decided to retire. Staff at the bakery on Sunday declined to comment.
The announcement came after a wave of closures of classic city food outlets amid the Covid-19 crisis. Happy Cake Shop, in Wan Chai, shut its doors for good in July after 45 years in business.
The closure of Hoover also came after the Urban Renewal Authority said it would build 4,350 flats in Kowloon City over the next 12 years in its second-largest development to date.
Residents and business owners in the neighbourhood, known for its heavy concentration of ethnic Thais and traditional stores, earlier expressed concerns the project could destroy the area’s community spirit.
For many who have grown up with the Hoover Cake Shop, its closure meant more than the loss of yet another local store.
Nicky Shum, 30, a postman, said visiting Hoover was part of his routine, and that whenever he passed, he would pop in for a peanut butter pineapple bun, a variety of sweet bun which he said he could only find at Hoover.
“I grew up eating the cakes and buns in this shop. I have got special memories of it,” he said. “It is a pity if it really closes. It is a taste that I am familiar with. It is the food of my generation.”
Among the customers lining up were banker James Cheng, 42, and Mandy Liu, 41, an engineer, who brought with them their children, Anna, 10, and Hunter, seven, on Sunday.
The couple moved from Taiwan to Hong Kong in 2012 and said Hoover had become a treasured part of their memories of the city.
“I first came here because of Chow Yun-fat. It represents the taste of Hong Kong. It really doesn’t matter whether it tastes good or not,” Cheng said.
“In here, I am able to find the feeling of old Hong Kong 40 to 50 years ago. I like old towns better,” Liu said. “It is part of the collective memories we have with our kids.”

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Mercedes-AMG Petronas F1 Team strikes a deal with FTX exchange to display FTX branding on cars, drivers, with the possibility of an NFT collection and corporate social responsibility partnerships.
FTX set to benefit from corporate branding deal
FTX, a well-known global cryptocurrency exchange, has struck a deal with the Mercedes-AMG Petronas F1 Team. The deal will result in bold FTX branding on the Mercedes F1 cars and Team Mercedes’ drivers, Lewis Hamilton and Valteri Bottas. The Russian Grand Prix, set to be hosted on September 26, 2021, will be the first showcase of Team Mercedes updated FTX branding. The deal will span multiple seasons, and will include FTX branding on partner logos on trackside and hospitality facilities.
FTX looking to reach mainstream F1 fan base
Sam Bankman-Fried, founder and CEO of the FTX exchange, said that FTX is “thrilled” to partner with the current F1 champions, and seven-time Constructors’ Champions. FTX has spent over $345M in its partnerships with sports organizations, intended to expand its exposure to mainstream audiences by accessing fans across the world. Toto Wolff, Team Principal, CEO and co-owner of the Mercedes F1 Team, is excited to welcome FTX onboard, and envisages exciting and novel opportunities that FTX can bring to the global F1 fan base. NFT collections, FTX Pay, and corporate social responsibility initiatives are set to roll out at a later date. FTX Pay is a payment platform that allows users to receive payments in both fiat currencies and cryptocurrencies.
Sports teams show growing interest in crypto
Sports brands and teams have been making use of the blockchain in interesting ways in the year 2021. In August 2021, Ferruccio Lamborghini Museum launched NFTs, and Porsche and Motor Team McLaren entered the NFT space. FTX has recently partnered with Tampa Bay Buccaneers quarterback Tom Brady and his wife Gisele Bundchen in launching a commercial, and has become Major League Baseball’s official cryptocurrency exchange. As part of the MLB deal, all umpires will have the FTX.US logos on their sleeves, and MLB will advertise FTX on all its media channels.
With respect to naming rights deals, FTX recently signed a $210M naming rights deal with the e-sports organization TLM and a $135M naming rights deal with the Miami Heat’s arena, which will result in the arena being named the FTX Arena in the next NBA Season. Kevin O’Leary, investor and co-host of Shark Tank has also partnered with FTX to be their ambassador, in a multi-year deal which sees him promoting FTX to his international audience.
What do you think about this subject? Write to us and tell us!
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.


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The products and companies tax (GST) Council will quickly meet to debate extension of GST compensation to states past 2022, and can try to repair sure tax anomalies. Mint takes a take a look at the implications for customers and companies.
What points are more likely to determine within the meet?
The council is anticipated to study calls for from states for extending the interval of GST compensation past June 2022, when the five-year transition interval into the brand new oblique tax system ends. Many states are going through monetary hardship due to larger spending wants in the course of the pandemic. GST compensation is financed by a cess levied on gadgets such as vehicles, aerated drinks and tobacco merchandise, in addition to commodities comparable to coal and lignite. One other job earlier than the council is pruning the listing of things beneath the ‘nil’ tax class. Fixing the tax anomaly of sure uncooked supplies getting taxed greater than completed items can also be on the playing cards.
What’ll compensation cess extension imply?
The Union authorities is already borrowing from the market to finance GST compensation to states for FY21 and FY22 as a result of the cess collected is just not adequate. To pay again this borrowing, the GST cess must be prolonged past 2022. Accepting the demand of states for an extra extension of the compensation interval would imply that the GST cess on gadgets comparable to cars, tobacco merchandise and coal must proceed for longer. That point interval would additionally rely upon how lengthy and by how a lot GST compensation will likely be paid to states past June 2022.
What merchandise are within the zero-tax class?
Many meals gadgets together with fish, egg, meat, milk, puja gadgets, plastic bangles, printed books, contraceptives, uncooked silk, khadi yarn and postal envelopes bought by the federal government are within the zero-rate class. Pruning exemptions are anticipated to widen the tax base. Nonetheless, political issues are anticipated to play a job within the council’s decision-making.
What’s the tax anomaly that must be fastened?
The inverted obligation construction, or the tax outgo on uncooked supplies and companies, being larger than that on the completed merchandise has been a headache for the authorities and companies. That is extreme within the case of things comparable to footwear valued as much as ₹1,000, materials and clothes, fertilizers and pharma-ceuticals. It might be unpopular to boost the tax on the mass-use last product. Nonetheless, the inverted obligation construction forces producers to get better taxes they’ve paid on uncooked supplies and companies by elevating costs of completed merchandise.
What can be the influence of correcting it?
There may very well be a marginal rise within the tax outgo of merchandise when the inverted obligation construction is corrected. Policymakers are anticipated to guage that in opposition to the financial advantages of correcting it, together with a potential discount in litigation. Regardless of the financial rationale for having reasonable taxation, the speed is stored on the lowest 5% on many gadgets due to political and social causes. This consideration to maintain tax charges low on mass use gadgets is more likely to be a key issue whereas addressing the issue of inverted obligation construction.
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National Book Fair from Dec 15 to 26
Hyderabad: Elaborate arrangements have been made for holding 30thA�National Book Fair at Telangana Kalabharathi (NTR Stadium) fromA�December 15 to 26, Government Advisor KV Ramanachary said on Thursday.
Talking to media persons after unveiling 30thA�Book Fair poster at the Secretariat, Ramanachary exhorted the people to make use of the book exhibition to pick their choicest books. Directing the officials to make arrangements for cashless transactions to buy books at the fair, he hoped more people would visit the fair.
The exhibition will display myriad varieties of books from other nations, states and places. Despite technology revolution and digital literacy, there are book lovers, he added. Tourism Secretary B Venkatesham urged the government to conduct book fairs in all districts. -NSS


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More Holden Barina Spark vehicles added to recall.
A recall of manual versions of the Holden Barina Spark has been expanded after it was found more vehicles may be affected.
Originally affecting 144 vehicles built in 2013, that total has now increased to 241 cars and some were built this year.
The Australian Competition and Consumer Commission is overseeing the expanded recall, which comes after it was found the transmission mount on the Holden Barina Spark may develop a fracture.
The ACCC Holden Barina Spark recall notice says this could lead to the transmission becoming unsupported, possibly causing serious damage to the vehicle and possibly posing a serious danger.
A letter is being sent to affected customers who are being asked to contact their nearest Holden dealership to arrange an inspection and rectification if necessary.


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San Jose has decided it can't go alone to ban plastic bags. So it has enlisted city leaders from Campbell, Mountain View, Santa Clara, Milpitas, Morgan Hill and Palo Alto to form a regional campaign.
Opposition has surfaced, prompting San Jose's City Council to proceed slowly.
"We're preparing for the kinds of legal challenges we know other cities have faced. That's why we've already started the steps for doing an environmental impact report. We want to make sure that we go forward in a way that is resistant to any legal challenge," said San Jose City Councilmember Sam Liccardo.
An outright ban on plastic bags is under discussion, along with a 25-cent charge to cover the cost of recycled paper bags.
The bag charge has prompted 7-Eleven owners to start a petition drive. About 2,700 signatures have been collected in one week.
"I'm going to be worried about how do I tell a mother that just bought a gallon of milk and a loaf of bread that she needs 25 cents more to carry this home," said 7-Eleven worker Rich Tatom.
San Jose Mayor Chuck Reed points out it will help retailers recover their cost.
"It is not a tax. If there is to be a charge, it would a charge that the retailers would recover for letting people have recycled paper bags because there's a cost to that, and it would be a way for them to recover their costs, but it would not go to the city," said Mayor Reed.
Councilmember Kansen Chu prefers to call it a tuition charge to make people more environmentally aware.
"You learn very quickly that you can save those 25 cents by bringing in one of your own reusable bags," said Chu.
Only retailers would be impacted by the ordinance. Restaurants are specifically excluded. The targeted effective date is the end of next year to give everyone time to prepare.
"If they ask me and they would charge, then I would probably say no, I'll just carry it," said 7-Eleven customer Scott Niheu.
The City Council spent the afternoon listening to 40 members of the community talking about the proposal and many people were opposed to it. The recycler said that he would lose his supply of plastic bags for what otherwise would be a viable business, while others feel that the government has no right to tell them what to do, and that they would rather than a ban on plastic bags.


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Health care behemoth Johnson & Johnson (NYSE: JNJ – $128.58) reported net income of $3.04 billion in the fourth quarter and, excluding charges, earnings on a per share basis was $1.97, ahead of the $1.95 estimate and 13.2% above last year’s fourth period. Sales rose 1% to $20.4 billion, also ahead Street views of $20.2 billion, which was negatively affected by currency fluctuations by 2.3%. Consumer product sales increased to $3.536 billion for the quarter versus $3.54 billion a year ago. The consumer business was helped by positive sales of Tylenol and Motrin analgesics and digestive health products; Neutrogena and OGX beauty products; and Listerine oral care. Worldwide pharmaceutical sales advanced to $10.19 billion from last year’s $9.68 billion. An increase in the company’s Zytiga and Stelara drugs were offset by declines in its Remicide and Xarelto offerings. J&J’s medical device segment had sales of $6.668 billion compared to $6.974 billion, following the sale of its Lifescan business this year. Medical devices were driven by electrophysiology products in the Interventional Solutions business; ACUVUE contact lenses and surgical products in the Vision business; wound closure products in the General Surgery business; along with endocutters and biosurgicals in the Advanced Surgery business.
For 2019, the Brunswick, New Jersey company expects sales of $80.4 billion to $81.2 billion and adjusted earnings of $8.50 to $8.65, compared to last year’s $8.16 per share, but on the low-end of analysts’ views. The company is experiencing some headwinds in its medical device business and is shoring up funds for its talc litigation defense. Nonetheless, income investors may want to take another look at this high-quality stock. The company is continuing to repurchase shares of up to $5 billion and the growing and well-covered $3.60 annual dividend yields 2.8% at current levels.


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News - Volkswagen
The second coming of Volkswagen
VW, the one-time star of the Australian market, makes another charge up the charts
6 Aug 2010
NOT many people would remember that Volkswagen was once a powerhouse of the Australian motor industry.
In 1958, the famous German brand even made the sales podium, coming third behind Holden and Ford on the strength of its popular first-generation Beetle, assembled – largely from bits imported from Germany – at its own factory in Clayton, Victoria, in a building, incidentally, later taken over by Nissan and now partly occupied by Holden Special Vehicles.
Times changed and the Japanese onslaught of the 1970s relegated VW and its European mates to bit players in most markets outside their European stronghold.
The wheel has turned again, however, and the people who brought you the ‘people’s car’ are once again on the march, looking for world prominence.
They have even put a date on it – 2018 – by when they plan to give Toyota the heave-ho from the top of the world rankings. So far, the Wolfsburg company has marched past Fiat, Renault-Nissan, Chrysler and Ford and into third place.
Second-placed General Motors, which is still struggling out of chapter 11 bankruptcy and still coming to terms with losing the number one position to Toyota, can now feel VW’s warm breath on the back of its neck.
Last year, VW’s 10 brands – now including Porsche – pumped more than six million vehicles into the world’s garages. This year, global VW sales are up 16 per cent and on target to top seven million units. What’s more, VW is awash with cash, partly because of the profitability of its Audi luxury brand and also because of its massive presence in China.
From top: Volkswagen Golf GTI, Volkswagen Jetta, Volkswagen Transporter, Volkswagen Amarok.
In Australia, VW’s sales are up 21.5 per cent on the back of its new sixth-generation Golf – up 33.8 per cent – and the growing popularity of its Tiguan compact SUV (up 40.3 per cent) and Transporter van (up 32.2 per cent).
But it is instructive to have a look back about 10 years to see how far the brand has come – and the trajectory it now appears to be on. Back in 2001, VW commanded just 1.4 per cent of the market.
Luxury car-maker Mercedes-Benz, which has also had the benefit of commercial vehicles to bump up its sales figures, comfortably outsold VW in Australia, as did BMW.
Back then, VW had nine models but was often described as the ‘Golf Car Company’ because of the dominance of its acclaimed hatchback that many people regard as the pioneer of the segment. The Golf spawned the ‘New Beetle’ and the Bora (now Jetta), but nothing much else made an impact.
Gradually, VW has expanded its model range and ramped up its value for money. From 2005, under new VW Australia managing director Jutta Dierks, VW started its climb, growing its share year on year.
While the arrival of the Touareg large SUV in 2004 stamped VW as a company willing to shake its boundaries, it did little to drive sales volume. The smaller Golf-based Tiguan, which hit Australia in 2008, did more, becoming VW’s third best-selling model after the Golf and mid-sized Passat.
Now, VW offers twice as many models – 18 – as it did 10 years again, and while the Golf is still its dominating model (43 per cent), mainstream players such as the Polo light car are providing more strings to the bow – and critical acclaim.
In the past two years, the strong Australian dollar and crumbling Euro has helped to give VW pricing the edge it needs against the Japanese car-makers.
Part of this value equation comes from sourcing product from low-cost countries such as South Africa, although a brief dalliance with China was snuffed out and India seems to be off the agenda for now.
The model expansion shows no sign of abating, with VW Australia warming up to enter the big-selling and highly competitive ute market with its Argentina-made Amarok next year, targeting a top-five LCV market position.
By the end of 2012, VW Group plans to spend $22 billion on new model development, which is expected to include the company’s new Up! range of city cars, including electric and hybrid versions.
Although Audi is imported by a separate channel in Australia, it too has mega plans globally, promising 15 new models by 2015.
And just to show it has all the bases covered, VW’s budget manufacturer Skoda – which returned to Australia under the VW umbrella about three years ago and is still trying to find a toehold – is set to consolidate its position with new models – including the Yeti small SUV – over the next couple of years.
While VW’s products have not always enjoyed the best of quality ratings, the public’s esteem for Volkswagen and its other brands – including Porsche and Lamborghini, although these, too, are imported through independent channels – has retained its lustre.
Fellow mainstream European brands such Renault, Fiat and Citroen have mostly merely existed in Australia, but VW is showing it is made of sterner stuff.
It is now a top 10 player with a 3.5 per cent share of the market, and if its other brands, Audi and Skoda were included, it would rival Honda and Subaru for market penetration.
With huge plans for Asia, including China where it now has no fewer than 10 factories, VW is a brand to be watched as it sets out to stretch its market domination of Europe to the four corners of the globe – including Australia.
14th of June 2010
VW to open 10th factory in ChinaAustralia off Chinese menu as VW eyes three million annual sales in four years
11th of June 2010
A1 to drive a million Audi salesAudi expects its smallest model ever to drive 2010 sales back past the million mark
23rd of March 2010
VW targets top-five rank in commercial salesFacelifted T5, new Amarok and 2011 Caddy to ramp up VW’s commercials to new level
18th of December 2009
Audi cruise set at 16K a yearAudi’s outgoing MD says exceeding 16,000 sales would undermine brand integrity
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Munich, March 14, 2023 (pta/14.03.2023/07:00 UTC+1)
Munich, March 14, 2023 – As already reported, Wacker Chemie AG ended 2022 with new all-time highs for sales and earnings. Presenting its annual report today, the Munich-based chemical company confirmed Group sales of €8.21 billion in 2022 (2021: €6.21 billion), up 32 percent year over year. Substantially higher selling prices were the main growth driver. Sales also benefited from positive exchange-rate effects due to the stronger US dollar. On the other hand, overall volumes were down somewhat versus the previous year, dampening sales.
In 2022, Group EBITDA rose 35 percent year over year, coming in at €2.08 billion (2021: €1.54 billion), yielding an EBITDA margin of 25.4 percent (2021: 24.8 percent). In addition to a marked increase in sales, cost savings from the Group's ongoing efficiency programs had a positive impact on operating performance. On the other hand, sharp increases in energy, raw-material and logistics costs weighed on EBITDA, amounting to additional costs of around €1.3 billion year over year.
Due to the effects described above, Group EBIT grew by 48 percent to around €1.68 billion (2021: €1.13 billion), resulting in an EBIT margin of 20.5 percent (2021: 18.3 percent). Depreciation and amortization amounted to €402 million in 2022 (2021: €404 million). Net income for 2022 was €1.28 billion (2021: €828 million).
WACKER is headed for a new record with its dividend. The Executive and Supervisory Boards will propose a dividend of €12.00 per share at the Annual Shareholders' Meeting. Accordingly, WACKER will be distributing roughly 50 percent of its net income for the year, in line with its dividend policy. Based on the number of shares entitled to dividends as of December 31, 2022, the total cash dividend corresponds to a payout of €596 million. Calculated in relation to WACKER's average share price in 2022, the dividend yield is 8.6 percent.
"The war in Europe is an acid test for the entire world and has thrown the global economy off balance," said CEO Christian Hartel in Munich on Tuesday. Amid these unpredictable and unstable conditions, he said, WACKER had had a highly successful business year: "With €8.2 billion in sales and EBITDA of more than €2 billion, it was by far the most successful year in the company's history."
From today's point of view, this strong operational growth, which WACKER was able to achieve in the past couple of years, will not continue in 2023. "The global economy has slowed significantly. Around the world, the economic and political environment remains volatile. High energy prices, especially in Europe, continue to impact our business," Hartel said.
In the first two months of this year, demand declined across a large number of customer sectors, with Group sales and EBITDA both lower than last year. Overall, WACKER expects to post Group sales of about €1.7 billion in Q1 2023 (Q1 2022: €2.08 billion). Group EBITDA will also be lower in Q1 2023. It is expected to come in between €250 million and €280 million, amid lower selling prices and declining volumes.
WACKER expects to post Group sales of between €7 billion and €7.5 billion in 2023, due to a combination of significantly lower selling prices, volume growth in the course of the year and positive product-mix effects in the chemical divisions. Based on these trends, Group EBITDA is expected to come in between €1.1 billion and €1.4 billion. Slightly higher energy costs will also dampen EBITDA.
"Even though we currently face economic headwinds rather than tailwinds, we look to the future with optimism," Hartel went on to say. Last year WACKER had plotted its strategic course for the coming years. "Our Strategy 2030 provides us with clear goals: faster growth, high profitability and better resilience in times of constant change," Hartel explained. He stated that a key component in achieving these goals would be higher investments, which would be spread across more than 40 different projects and rise to around €650 million in 2023. "Investments at our chemical divisions will focus mainly on expanding our portfolio of specialty products. In the biotechnology field, we will ramp up the ongoing expansion of our sites. In our polysilicon business, the focus will be on semiconductor applications," said Hartel.
In 2022, capital expenditures reached €547 million (2021: €344 million), up 59 percent year over year.
WACKER invested in expanding its production capacities in all regions across the globe. The lion's share of capex went to the company's chemical divisions, with funds being invested, for example, in new facilities for intermediates and downstream products for liquid silicone rubber at the Adrian, Michigan site in the USA and at Burghausen, as well as in high-temperature vulcanizing solid silicone rubber at the Panagarh site in India. Capacity was also increased at Nünchritz and at the subsidiary SICO Performance Material at its site in Jining, China. Further funds were invested in construction of a dispersion reactor and spray dryer at the Nanjing site in China.
In the biotechnology field, the Amsterdam site was further expanded. At the Halle site, construction commenced on the mRNA Competence Center. Further investments went toward new equipment in plants producing particularly high-quality polysilicon for semiconductor applications.
The number of Group employees increased by 1,319 in 2022. As of December 31, 2022, WACKER had 15,725 employees worldwide (Dec. 31, 2021: 14,406). This included 10,424 employees at its sites in Germany (Dec. 31, 2021: 10,006) and 5,301 at its international sites (Dec. 31, 2021: 4,400).
Net Cash Flow, Net Financial Assets and Equity Ratio
WACKER's net cash flow totaled €439 million in 2022 (2021: €761 million). This year-over-year decline of 42 percent was due to a sales-related increase in working capital and to higher capital expenditures. Net financial assets totaled €409.2 million as of December 31, 2022 (Dec. 31, 2021: €546.5 million).
WACKER's total assets amounted to €9.40 billion as of December 31, 2022 (Dec. 31, 2021: €8.13 billion), up by 16 percent. The biggest changes concerned the Group's noncurrent assets, and the sales-related increase in inventories. Equity rose substantially too, particularly due to the high net income for the year and to the marked decline in provisions for pensions attributable to higher discount rates. As of the reporting date, equity amounted to €5.03 billion (Dec. 31, 2021: €3.10 billion). The corresponding equity ratio was 54 percent (Dec. 31, 2021: 38 percent).
In 2022, WACKER SILICONES' sales grew by 33 percent, coming in at €3.45 billion (2021: €2.60 billion). This increase was attributable to significantly higher selling prices as well as to product-mix and exchange-rate effects. Growth in EBITDA was even stronger. It rose by 59 percent to €876 million (2021: €553 million), due mainly to higher selling prices. In addition, the revaluation of an at equity joint venture participation in China increased WACKER SILICONES' EBITDA by €72 million.
WACKER POLYMERS' sales increased significantly in 2022, rising by 19 percent to €2.00 billion (2021: €1.67 billion), due to substantially higher selling prices and to product-mix and exchange-rate effects. At €289 million, EBITDA was up 14 percent year over year (2021: €253 million), due predominantly to higher selling prices.
WACKER BIOSOLUTIONS grew its sales by 12 percent in 2022 to €331 million (2021: €296 million). Higher selling prices were the chief growth driver. At €17 million, EBITDA was substantially lower year over year (2021: €39 million). Factors negatively impacting EBITDA were the temporary outage of a production facility in Burghausen, integration costs for the San Diego site in the USA and upfront costs for establishing the mRNA Competence Center in Halle.
WACKER POLYSILICON's sales grew by 50 percent in 2022 to reach €2.29 billion (2021: €1.53 billion). Higher selling prices were the main reason for this increase. Compared with the prior year, the share of semiconductor-grade polysilicon in the portfolio was higher. EBITDA rose by 26 percent to €826 million (2021: €657 million). Higher selling prices were the main growth driver, whereas increases in energy and raw-material costs dampened earnings.
In 2022, WACKER set the course to accelerate its growth in the coming years. In March of last year, the Group presented to the capital markets its strategic goals for the period until 2030. Sales are planned to rise to over €10 billion by 2030, This growth will be driven by volume growth and a better product mix as well as a focus on sustainable products and applications. Up to now, the annual average growth rate has been between 4 and 5 percent. In the future, it should be higher, by a factor of between 1.5 and 2. At the same time, WACKER is focused on high profitability. The company is aiming for an EBITDA margin of more than 20 percent by 2030. The goal is to earn twice the cost of capital.
"Higher investments are an important stepping stone towards achieving our goals. In the coming years, capex will be markedly higher than depreciation," underscored CEO Christian Hartel. WACKER had the financial strength needed for such capital expenditures, he said, with more than €400 million per year to be invested in WACKER's chemical divisions – WACKER SILICONES and WACKER POLYMERS. WACKER BIOSOLUTIONS is to see over €80 million per year, while investments of about €100 million per year are planned for WACKER POLYSILICON. "Sustainability remains an integral part of our Strategy 2030. We have significantly raised the bar for our sustainable development goals. Our aim is to achieve a 50‑percent reduction in our carbon emissions by 2030 – in absolute terms and regardless of volume growth. We also want to reach net zero by 2045. For us, stronger growth and sustainable operations are not mutually exclusive," said Hartel.
WACKER expects to post Group sales of between €7 billion and €7.5 billion in 2023. EBITDA is expected to come in between €1.1 billion and €1.4 billion, with significantly lower selling prices in particular dampening earnings. The EBITDA margin is likely to decline substantially compared with last year. At €650 million, capital expenditures will rise substantially year over year. They will also be clearly higher than depreciation/amortization, which will amount to about €450 million. Group net income for the year will be markedly lower than last year. Net cash flow should be positive, but substantially lower than last year. WACKER is expected to post low net financial debt in 2023.
The company expects its chemical business to post lower sales this year, due chiefly to declining selling prices. WACKER SILICONES expects to generate sales of between €3.1 billion and €3.3 billion and to post an EBITDA margin of around 15 percent. Sales at WACKER POLYMERS are likely to amount to around €1.8 billion, while its EBITDA margin should be slightly higher than last year.
The Group expects WACKER BIOSOLUTIONS to post sales growth, likely in the low double-digit percentage range. EBITDA should be significantly higher than last year.
WACKER POLYSILICON expects to generate sales of between €1.6 billion and €1.8 billion in 2023, driven by lower average polysilicon prices and reduced volumes due to changes in the product mix. EBITDA is likely to come in between €300 million and €500 million.
Key Figures for the WACKER Group
|EBITDA margin2 (%)||25.4||24.8||n.a.|
|EBIT margin2 (%)||20.5||18.3||n.a.|
|Income before income taxes||1,616.2||1,093.6||47.8|
|Net income for the year||1,281.6||827.8||54.8|
|Earnings per share (€)||25.18||16.24||55.0|
|Financial Position / Cash Flow|
|Equity ratio (%)||53.5||38.1||n.a.|
|Net financial assets / net financial debt 4||409.2||546.5||-25.1|
|Net cash flow6||438.8||760.8||-42.3|
|Research and Development|
|Employees (number as of Dec. 31)||15,725||14,406||9.2|
1 EBITDA is EBIT before depreciation and amortization.
2 Margins are calculated based on sales.
3 EBIT is the result from continuing operations for the period before interest and other financial result, and income taxes.
4 Sum of cash and cash equivalents, noncurrent and current securities, and noncurrent and current financial liabilities
5 Intangible assets, property, plant and equipment, investment property, excluding right-of-use assets
6 Sum of cash flow from operating activities and cash flow from long-term investing activities (before securities)
Information for editorial offices: The 2022 Annual Report is available for download on the WACKER website (www.wacker.com) under Investor Relations.
Wacker Chemie AG's Annual Press Conference will be held as a hybrid event this year. You can follow the event online starting 10:30 via the following link:
This press release contains forward-looking statements based on assumptions and estimates of WACKER's Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so.
Wacker Chemie AG
|Contact Person:||Christof Bachmair|
|Phone:||+49 89 6279-1830|
|Stock Exchange(s):||Regulated Market in Frankfurt, Free Market in Berlin, Free Market in Dusseldorf, Free Market in Hamburg, Free Market in Hannover, Free Market in Munich, Free Market in Stuttgart, Open Market in Tradegate|


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Latest printing Stories
CANDIAC, QC, April 17, 2015 /PRNewswire/ - Cascades Inc.
VANCOUVER, April 16, 2015 /PRNewswire/ - MET Fine Printers (MET) today announced its plans to expand its operations through an arrangement with Rhino Print Solutions (Rhino), enabling customers
BAODING, China, April 16, 2015 /PRNewswire/ -- Orient Paper, Inc.
MUMBAI, April 15, 2015 /PRNewswire/ -- 3D printers are emerging as a key growing printing technology in global landscape.
All-New Photographic Pigment Ink Technology Featured in Epson SureColor Large-Format Photo Printers Preserves the Legacy of the Print LONG BEACH, Calif., April 15, 2015 /PRNewswire/ -- Epson
WALLTAT expands its offering of large wall decals with iconic "KCCO" designs from theChive.
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APPLETON, Wis., April 13, 2015 /PRNewswire/ -- Appvion, Inc. has announced the addition of a 20 lb. bond to its lineup of treated high-speed inkjet papers.
LONDON, April 13, 2015 /PRNewswire/ -- This report analyzes the worldwide markets for Printing Inks in US$ Thousands by the following Product Segments: Lithographic Inks, Flexographic Inks,
Three-dimensional printing, also known as additive manufacturing, is the process of using additives to form solid 3D objects of virtually any shape from a digital model. This is achieved using specially formulated additives, such as plastics, that are formed into successive layers of material typically laid down on a platform in different shapes. 3D printing is uniquely distinct from a more traditional 3D sculpting technique, which relies on the removal of layers (subtractive manufacturing)...
The stencil duplicator works by forcing ink through a stencil onto paper. Also called mimeographs they were often used for print short-run office work, classroom materials, and church bulletins. They eventually were supplanted by photocopying and cheap printing in the late 1960s. In developed countries photocopying and offset have replaced mimeography even though in mid-range quantities it remains more economical and energy efficient. In developing countries they are still often used due to...
- A young chicken: also used as a pet name for children.


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On June 12, 2014, the United States Supreme Court decided the case of POM Wonderful LLC v. Coca-Cola Co., 189 L. Ed. 2d 141 (U.S. 2014) . POM Wonderful, LLC (POM) filed its initial action against Coca-Cola asserting that the labeling, marketing, and advertising...
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[On Aug. 7], the Wisconsin Court of Appeals released its opinion in Farm-To-Consumer v. Wis. DATCP , 11AP2264, a closely watched case involving Wisconsin’s regulation of raw-milk production [ enhanced opinion available to...


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Cathay to cut to freight-only passenger flights as air cargo rates retreat
HONG Kong's Cathay Pacific is reported to be preparing to cancel 'many' of its freight-only flights as air cargo rates begin to drop following the decline in demand for personal protective equipment and the use of alternative shipping methods
22 June 2020 - 19:00
Air freight rates have fallen by half from their peak last month, according to TAC Index.
'Cargo has been tapering off, and as a result, there will be many cancellations of cargo-only passenger aircraft flights, as the commercial decisions are made closer to the time of the flight,' the airline said.
Cargo revenue has been Cathay's primary source of income for at least three months, as the collapse in air travel has seen passenger revenue dry up. With the grounding of numerous passenger aircraft, which typically carry half the world's cargo, airfreight pricing surged on the shortfall in capacity.
Among Asian airlines, who rank among the biggest cargo carriers globally, a mixed picture was emerging, reports the South China Morning Post.
Korean Air, the sixth largest, said it anticipated a 'change' in demand, but its capacity was still rising, while seventh-placed China Airlines told Reuters it was concerned about the outlook against a weak global economic environment.
Cathay, meanwhile, planned to 'remain agile in the deployment of our aircraft to ensure our available cargo capacity is aligned with market demand', the airline said in an emailed statement. In May, the airline operated 900 such return flights.
Korean Air says it was currently using passenger planes for 70-80 return cargo-only flights per week.
'If the global economic recession and trade restrictions due to Covid-19 continue for a long time, the air cargo market is bound to face challenges,' a Korean Air spokeswoman said. 'We expect cargo demand to change, but currently cargo transport capacity is on the rise due to the increase in cargo-only passenger flights.'
Cargo freight pricing from China to Europe has halved to US$6 a kilo in June since the end of April, according to TAC Index data. China-US pricing topped $15 by mid-May but has dropped by two-thirds. Rates pre-Covid had hovered around $2 to $3 a kilo.
Rates from Hong Kong to the US and Europe, meanwhile, are all starting to give up the significant gains, but remain 50 per cent higher than at the same time in 2019.
This news 660 hits received.


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Huawei's Honor 6X Adopts EMUI 5.0 and Android 7 Nougat
May 2, 2017, 4:06 PM by Eric M. Zeman
Huawei today began updating the Honor 6X to Emotion UI 5.0 and Android 7 Nougat. The 6X, which shipped earlier this year, included EMUI 4.1 and Android 6 out of the box. Huawei's newer handsets, such as the P10, are shipping with EMUI 5.0 and Nougat. The system update brings the 6X's experience inline with Huawei's latest phones. EMUI simplifies the experience a bit, with fewer steps required to take most actions. EMUI 5.0 also runs more smoothly, is more secure, adds an app drawer options, and lets people use two account profiles within a single app. Huawei says all Honor 6X handsets should receive the update by the end of the month.
CES is the world's big consumer tech show. Every year we head out to Vegas to check out everything in person.
Huawei's latest for the unlocked crowd is the Honor 6X. This slim metal-and-glass smartphone has an attractive design and decent set of specs for a phone that costs as little as $200 if you're smart about buying it.
May 31, 2017
Huawei's Honor brand today expanded the availability of the unlocked Honor 6X to some 460 Target retail stores across the country. Now, U.S.
Jan 3, 2017
Huawei today announced the Honor 6X, a follow up to the 5X that improves upon specs and design. The 6X boasts a 2.5D curved glass front and aluminum rear panel to give it a metal-and-glass chassis.


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South African energy efficiency company carbonTRACK has launched a ZigBee wireless plug operated by mobile devices in a bid to curtail energy wastage through stand-by equipment.
The plug allows users to turn off stand-by devices using a mobile phone, explains Irvan Damon, CEO of carbonTRACK SA.
He added: “By switching off your appliances at the plug power level, you can avoid the damages appliances experience when connected back to the grid due to load-shedding and voltage spikes. Using your phone to interface with your ZigBee is a first for South Africa.”
carbonTRACK technology uses a web-interface to ‘see’ electricity use in a home or business, and uses algorithms to switch devices on and off as required so as to minimise their electricity consumption.
A proprietary communications stack allows remote switching of devices in under three seconds, using telecommunication networks at an extremely reduced cost. The end results are electricity savings of up to 30% or more. The company can also offer Eskom the ability to remotely switch major loads such as geysers and pool pumps during peak load events, improving grid stability.
Improving PV solar generation
The product can also offer improved energy efficiency for solar generation and solar power usage such as solar geysers and photovoltaic (PV) solar.
“Solar is an integral part of electricity independence,” explains Damon. “There is so much more that households and businesses can get out of their solar power if they have visibility and insight. This ensures that the solar energy generated is used efficiently; we at carbonTRACK call this Smart Solar.
“Consumers with carbonTRACK can see in real time exactly how much energy is being generated and how to best use this in order to maximise the efficiency of their PV solar system, this in turn reduces dependence on grid power. Ultimately, carbonTRACK provides consumers with the ability to make smarter, more informed decisions on how to best manage their energy needs; it reduces their electricity bills and their dependence on the grid.”
Other uses include optimising the operation of up to two geysers, including Solar Thermal Geysers, by constantly recalculating and measuring the solar thermal conversion. This maximises geyser efficiency and ensures that water is heated with the least amount of energy. In addition, leak detection capabilities detect and control a geyser leak, reducing resultant damage from faulty or leaking geysers.
Energy consumers urged to reduce demand
Says Proudly South African’s CEO, Adv. Leslie Sedibe, “carbonTRACK, a registered Proudly South African member company, provides a significant and necessary product to consumers during a time when electricity supply is closely monitored and consumers are urged to cut down on their usage. We are proud to have carbonTRACK on board with a product that empowers South Africans to easily monitor and manage their power usage during challenging times.
The solution can also be used to monitor solar generation and ultimately gives consumers the power to save money. This comes at a time when our government is urging all South Africans to work together to save electricity and help get the country out of its energy shortage challenge. President Jacob Zuma recently reiterated that while government will play its part, every single consumer can also contribute towards energy saving.”
In 2014 the product won the prestigious GAP ICT Innovation Hub Award for its remarkable energy management potential. According to Lufuno Ramabulana, a specialist at the Innovation Hub’s Innovation Strategy Projects and manager of GAP ICT, “carbonTRACK helps households and businesses improve their energy efficiency and reduce the burden on the grid.”
(Homepage pic credit: ennomotive)


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Barclays notches up £2.4bn profit in just three months
Barclays enjoyed a record quarter at the start of 2021, hitting pre-tax profits not seen in 13 years, the bank has revealed.
Bosses said the £2.4 billion pre-tax profit for the first three months of the year came through strong growth in its corporate and investment banking division and an improved mortgage book.
The bank’s high street division had a mixed period as the recent lockdowns reduced consumer spending, but the stamp duty holiday continued to help the housing market and its mortgage division.
Impairment charges – money put aside in case of defaulting loans – were also significantly reduced as the economy improved and the post-pandemic outlook appeared more stable compared with a year ago.
The charges for the quarter were just £55 million compared with £2.1 billion a year ago, although, unlike rivals NatWest and Lloyds, Barclays said it will not release the provisions just yet.
Chief executive Jes Staley said: “Since the early days of the pandemic last year, our diversified business has demonstrated the resilience critical to ensuring Barclays’ financial integrity.”
He added that the bank had high hopes for the economy to bounce back, with predictions of a recovery not seen for more than 70 years.
The boss said: “Our economic forecast for the UK economy is to grow year on year by some 6.5%, which would be the strongest growth rate in the British economy since 1948.
“There’s tremendous pent-up demand both with the consumer and small businesses, and we see that as the vaccination programme, which has been an extraordinary success in the UK, continues.
“The spend data we’re already starting to see is very encouraging. In the first two weeks of April our spend numbers was 70% over the first two weeks of April last year.
“We’re starting to see a quite robust economic recovery in 2021 and we think that will carry through into 2022.”
He pointed out that the corporate and investment bank (CIB) had a particularly strong quarter, with income of £3.6 billion, and return on tangible equity (RoTE) – the bank’s preferred measure – was 17.9%.
Mr Staley added that the CIB growth “partially offset challenges in our consumer businesses that have been impacted by lower spend and activity levels as a result of the pandemic”.
Barclays UK saw income of £1.6 billion – down 8% – as savings and spending during the lockdown slowed, although its mortgages grew by £3.6 billion to £151.9 billion.
Mr Staley added: “As we enter the next phase of this pandemic, we remain resolute in our commitment to support the economic recovery.
“From our spend data, which captures UK economic activity across our cards and acquiring businesses, we are already seeing encouraging early signs of recovery in some sectors, including those hit hardest by the crisis.”
A finance partnership with Amazon, first launched in Germany, will also be extended to the UK.Published: by Radio NewsHub


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Ford has, thus far, shown no interest in a long-range EV, even saying earlier this month that a 100-mile range is plenty. Ford has increased the range of the 2017 Focus Electric from 76 miles to 100, and has said that’s as far as the company plans to go due to the increased costs of larger battery packs. Ford’s electrification guru, Kevin Layden, said,
I think right now with the launch of the Focus Electric at 100 miles, it is going to satisfy a big chunk of the population. It’s going to be really affordable and a step up from where we are now.
Ford CEO Mark Fields seems to have other plans.
In response to a question about building a 200-mile EV during the company’s first-quarter earnings call, Fields said, “We want to make sure that we’re either among the leaders or in a leadership position. When you look at some of the competitors and what they’ve announced, clearly that’s something we’re developing for.”
To make things even more interesting, Ford is said to have the name “Model E” reserved for such a vehicle. That name obviously fits well with Ford’s heritage, but also flies in the face of Tesla’s nomenclature. Car buyers might get confused with the Model S, Model X, Model 3, and Model E whizzing through city streets, but maybe that’s part of Ford’s plan. Aligning itself with Tesla in the eyes of the consumer would not be a bad thing.
Ford plans to invest $4.5 billion in electrification as part of a strategy to keep the company in a leadership position over the next decade. Part of that plan is to unveil an electrified F-150 hybrid truck by 2020, but it sure seems like an affordable long-range all-electric car would appeal to a much wider audience.
The Model E probably won’t go into production for another two or so years, but that’s still long before Tesla will have a chance to fill all of its 400,000 Model 3 pre-orders. Clearly, part of Ford’s plan is to convert some of those Model 3 pre-orders into Model E customers. Sneaky? You bet. But all’s fair in the world of auto marketing.
Would you buy an electric Ford instead of a Tesla?


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A patio and pool store is leasing part of the former Upton's department store building at Dobbin Center, and the real estate agent leasing the building is hoping to soon release the name of a larger retailer to occupy the rest of the space.
News of the Upton's building lease comes on the heels of an announcement that Wal-Mart will lease the former Kmart building in the same shopping center.
The Upton's lease is a sign of revitalization for the aging shopping center and reinforces the strength of Columbia's retail markets outside its village centers, analysts said.
In the area around Route 175 and Dobbin Road, three other shopping centers have either been built or revived in recent years. And the newest center, Columbia Crossing II, is attracting a large number of customers.
"Columbia is a strong retail market," said Bob Morris, an agent with real estate company NAI KLNB Inc.
"Many of the stores in Snowden Square [are] top performers. [In Columbia Crossing], Dick's is doing very well, and Target is doing very well, and Toys 'R' Us is doing very well."
At Dobbin Center, Offenbacher's, a local retailer that sells upscale pool and patio equipment along with billiards tables and fireplace equipment, has agreed to take 17,100 square feet in the Upton's building, which is being divided into two parcels.
Construction has begun at the new Offenbacher's location, which is expected to open in the spring. The Columbia store will be the company's seventh in the region.
The remaining part of the Upton's building - 48,000 square feet - is under negotiation, said Neil Tucker, a vice president of CB Richard Ellis Inc., which is leasing the building. Although the building has been vacant for nearly four years, Wal-Mart's move to the center has made it more attractive to other retailers, Tucker said.
"There has been a lot of strong interest," he said. "Our perception of the center was always very strong. Columbia is one of the strongest markets. We never thought of it as distressed."
The 18-year-old Dobbin Center seemed doomed without an anchor standing in the shadow of the newer and trendier Columbia Crossing.
The only good news to come out of the center in recent years was the addition of a Tweeters electronics store and a Baja Fresh Mexican Grill, which became so popular it expanded within a year.
But in that time, Kmart and a BGE Home store left the shopping center because of corporate financial woes. The losses stood in stark contrast to the flourishing business all around Dobbin Center.
Adjacent to Dobbin, a developer demolished a former steakhouse and built a shopping center with a Fuddruckers restaurant and Starbucks coffee shop two years ago.
Across Route 175 is Columbia Crossing shopping center, which boasts strong sales at its collection of big-box stores. Adjacent to Columbia Crossing is Crossing II, a new center with a Home Depot Expo design center and LongHorn Steakhouse, which also has become popular.
With the news that Wal-Mart will occupy an 110,000-square- foot space left vacant by Kmart last summer, Dobbin Center looks as if it is on the rebound.
"They still face the competition, heavy competition from across the street. But Wal-Mart is a good player to have. They do tremendous on traffic numbers," said Patrice Selleck, a spokeswoman with the International Council of Shopping Centers, a trade association.
"It sounds more positive, but it'll be a slower rather than a quick turnaround," she said. "Economic conditions are going to make it tougher."


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OGIO is taking Callaway to task over alleged patent infringement regarding its Woode Club Management system, which was issued patent number 6,877,694 B2 in April 2005. The company filed papers with the State of Utah's Federal District Court on February 13, 2008.
OGIO provided OEM services for Callaway from 2000 through 2005 and claims that, though the companies parted ways nearly three years ago, a patent-violating version of the organizing top continues to appear on Callaway-designed golf bags including its 2008 golf bag collection.
This suit is not the first time OGIO has taken steps to protect the Woode patent. In December 2005, OGIO issued cease-and-desist orders warning retailers and manufacturers to discontinue the sale of bags incorporating the design.


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Transmit Security Raises $543M To Aid Passwordless Adoption
Identity and access management vendor Transmit Security has snagged a $2.2 billion valuation and plans to grow its workforce over the next year to drive more adoption of passwordless technology.
Transmit Security has notched a $2.2 billion valuation and plans to double its headcount over the next year to drive more adoption of passwordless technology.
The Tel Aviv and Boston-based identity vendor plans to take advantage of its record-setting $543 million Series A funding to double its 240-person headcount by aggressively expanding its sales, marketing, services, and development teams, said Co-Founder and President Rakesh Loonkar. The round was led by Insight Partners and General Atlantic, which both have experience supporting more mature companies.
“It [the round] comes down to simple demand,” Loonkar told CRN. “The markets really reward growth rates; they don’t really reward being profitable.”
Transmit expects for the first time to have $100 million of annual recurring revenue (ARR) this year, and would like to eventually hit the $500 million ARR mark, according to Loonkar. The company was founded in 2014, and emerged from stealth in January 2017 with $40 million of self-financing. Transmit works with big financial institutions like MassMutual, Citibank, UBS, Santander, JPMorgan Chase, and TIAA.
The company’s executive and director-level hires will be weighted toward Transmit’s go-to-market organization to support channel and international expansion, Loonkar said. Solution providers today account for 40 percent of Transmit’s sales, with financial services organizations based in North America contributing much of the company’s direct business, according to Loonkar.
Transmit plans to use to proceeds to expand beyond the basics of a channel team and release a formal partner program, said Loonkar, who declined to disclose how many solution providers the company currently works with. The company is most interested in reseller, MSSP or referral partners that have access to and relationships with customer-focused application owners that seek better security.
From a geographic standpoint, Loonkar would like to see Transmit go from having 35 percent of its business outside of North America today to at least half in the long run. Loonkar said Transmit is building up broadly across Europe, and also has a strong presence in Asia-Pacific markets such as Australia, New Zealand, Singapore, Hong Kong, and Japan.
As far as technology is concerned, Transmit plans to use the proceeds to enhance the development of all its existing products as well as spend money on innovations. The company’s products include: BindID portable authentication using biometrics; FlexID to manage authentication, fraud detection, and access controls; and WorkID passwordless workstation login and single sign-on.
Accenture has been working with Transmit for more than three years, and would like to see the company use proceeds from its Series A funding to strengthen its technology and market awareness, according to Rex Thexton, senior managing director at the company, No. 1 on the 2021 CRN Solution Provider 500.
From a technology standpoint, he would like to see Transmit continue to invest in product engineering for a seamless user experience as well double down on integrations to ensure the company’s products fit into third-party hardware stacks. As for market awareness, Thexton would like to see the company do more events, launch marketing campaigns, and drive client adoption to provide additional case studies.
“Passwordless is the way to go, and Transmit’s technology seems to be pretty strong at this point,” Thexton told CRN. “We’re very excited about what they’re doing.”


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How ready are CPAs to help their clients navigate the uncharted waters of 2016? Macroeconomic trends such as increasing globalization, the slowing of the Chinese economy, and growth in small and online businesses here in the U.S. are changing the business landscape. Here are some of the top economic trends to be mindful of in 2016, and ways they will affect CPAs.
The bifurcated economy. According to Ted Zoller, Ph.D., a professor of strategy and entrepreneurship and director of the Center for Entrepreneurial Studies at UNC-Chapel Hill, we’re moving toward a “bimodal” economy. Increased merger-and-acquisitions activity means large companies are getting bigger, while smaller ones are being forced into narrower niche segments. Recent data backs up Zoller’s claims: As of May 31, 2015, M&A activity in the U.S. was worth $875 billion, representing a 9% increase over the same period in 2014. Meanwhile, the percentage of micro businesses—businesses with fewer than 10 employees—has also grown 3.6% over 2014.
In the near future, Zoller predicts, there will be much more acquisition activity, fueled by cash-rich companies, R&D activity, a desire for a larger market share, and complementary products or services, among others. According to PwC, 54% of CEOs in the U.S. were eyeing an acquisition in 2015. That translates to more business for CPAs, who will be needed to do due diligence on acquisition targets, advise venture capitalists, and help determine equity structure and get companies publicly listed.
Further growth of startups. With the U.S. economy in an economic recovery, people are becoming less risk-averse. This should result in the founding of more startups, said Geeta Shah, a professor of economics at Wake Tech Community College in North Carolina. CPAs should prepare to do more work with small and midsize businesses. They’ll need good communication and analytical skills, as they will be required to interpret companies’ financial data for stakeholders such as vendors, customers, and financial institutions.
As startup culture grows in influence, CPAs will need to become more nimble, said Anoop Mehta, CPA, CGMA, vice president and CFO at Science Systems and Applications Inc. and a member of the AICPA Business & Industry Executive Committee. After all, startups are characterized by change: Most startup founders aim to scale their companies up, sell them off, and move on to the next opportunity. CPAs will also need to wear more hats, Mehta said, since, for small businesses, “the CPA is the proxy CFO.”
Mehta also believes that CPAs and other professionals will need to have more niche knowledge as the economy bifurcates. “You will see a lot more specialization as domain-specific expertise becomes a significant factor in the growing startup culture of corporate America,” he said.
Growth of the informal sector. CPAs will also have a greater role to play in the “informal sector,” which encompasses forms of work that do not fall under tight regulatory control, such as freelance work such as writing and graphic design, “gig-based” jobs such as Uber driver or Airbnb owner, or day labor. This sector will likely expand as it is driven by Millennials, who now make up one-third of the population. The informal sector, which is now more about entrepreneurship than survival, typically falls through the cracks of the tax regulatory environment. However, that is about to change and the country could soon see a tightening of the tax regime, Shah said, meaning CPAs may be needed to perform more tax work for people working in this sector—and the companies that employ them.
Rapid change. Today’s businesses are operating in a fast-changing and globally integrated environment, and one where risks are as much about missed opportunities as about unforeseen events.
To increase their relevance in this climate, CPAs must act as strategic thinkers for businesses, Mehta said. Instead of “looking at the past to understand the present,” CPAs will need to act as “fortunetellers” whose role is to anticipate, he said.
Companies are also going to place more emphasis on efficiency. They’re increasingly going to be asking such questions as “Are we utilizing labor most efficiently?”—and they are going to be looking to CPAs for the answer.
One way CPAs can be more strategic is by engaging with Big Data. The explosion of data means there is a lot of information available that can be translated into valuable business insights—and who better to do so than a numerically literate professional such as a CPA?
According to Zoller, the tools of forensic accounting will allow CPAs to mine data to examine how enterprises interact with one another and how consumers make purchasing decisions. Such insights can help CPAs become valuable strategic advisers in an era of rapid change.
Usha Sankar is a Cary, N.C.-based freelance writer and editor.


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In an enormous growth, the Indian authorities has taken a major step to tame the rising costs of edible oil. The federal government has given a aid within the import of crude soyabean and crude sunflower oil.
The federal government has taken a choice to import 20 lakh metric tonne of obligation free crude soya bean oil.
See Zee Enterprise Stay TV Streaming Beneath:
See Tweet Right here:
खाने का तेल सस्ता करने के लिए सरकार का बड़ा कदम
क्रूड सोयाबीन और क्रूड सनफ्लॉवर तेल इंपोर्ट में राहत
20 लाख MT ड्यूटी फ्री क्रूड सोयाबीन तेल इंपोर्ट का फैसला
FY23, FY24 के लिए लागू होगा इंपोर्ट ड्यूटी में राहत का नियम#EdibleOil | #OilPrice pic.twitter.com/WZsX0IdY1r
— Zee Enterprise (@ZeeBusiness) May 24, 2022
The comfort in import obligation guidelines will probably be relevant for the monetary yr 2022-23 (April-March) and 2023-24.
The federal government on Tuesday exempted customs obligation and agriculture infrastructure growth cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease home costs, a PTI report mentioned.
The duty-free import of 20 lakh MT per yr will probably be relevant for 2 FYs (2022-23, 2023-24) for crude soyabean oil and crude sunflower oil, the Finance Ministry mentioned in a notification, this report mentioned.
The exemption will assist cool home costs and management inflation.
“This may present vital aid to the shoppers, the CBIC tweeted.
Final week to regulate spiralling costs, the federal government had reduce excise obligation on petrol and diesel and likewise waived import obligation on some uncooked supplies utilized in metal and plastic business. Moreover, export obligation was hiked on iron ore and iron pellets.
An increase in worth throughout all gadgets from gasoline to greens and cooking oil pushed WPI or wholesale worth inflation to a document excessive of 15.08 per cent in April and retail inflation to a close to eight-year excessive of seven.79 per cent.
Excessive inflation prompted the Reserve Financial institution to carry an unscheduled assembly to boost the benchmark rate of interest by 40 foundation factors to 4.40 per cent earlier this month.
Inputs from PTI


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As far as the Freedom 251 smartphone , aka the world’s cheapest android smartphone, goes, this question had to be asked: was the whole thing a cheap and uncomplicated scam? Scam is a word not thrown lightly here. And my prayer is, let it be true. But a smartphone costing less than $5 must have an angle the world is yet to figure out.
The freedom 251 smartphone was launched with specs that were jaw dropping because of the price. Its features include a 4 inch IPS display, 1.3 GHz quad-core processor, 8GB of internal storage, 1GB RAM and microSD card slot that can handle an extra 64 GB of storage. All to cost less than what it would take to buy a good pair of jeans. None of the phones in our series on smartphones under $100 comes remotely close to this.
But even before a single freedom 251 smartphone has being shipped, the promoters of the phone, Ringing Bells are making tons of money from the publicity generated by the phone. When the phone was launched last month, the website crashed after traffic to the site went haywire. This traffic to the website continued for several more days after. And that is where Ringing Bells started cashing in. This sort of traffic is an advertiser’s dream. Many companies started paying good money to advertise their products there. Even if the money from adverts is not that much, it is still size-able considering that nothing is being sold yet. Just a promise of a cheap smartphone come June this year.
And based on that promised, thousands have being booking for the phone. Initially, Ringing Bells collected money from people who booked. But the smartphone vendor reversed the decision to make it cash on delivery. They promised to refund all those who sent money for a pre-order. The statement on their website reads:
In furthering our services to you, we, at Ringing Bells have decided to offer ‘Cash on Delivery’ terms vs the previous offer of via ‘Payment Gateway”!!
By this, you, our esteemed customer, will be required to make payment only when the phone is delivered to your.
We ate in the process of compiling the emails and issuing these to the first Lacs registrations very soon.
We express our sincere gratitude for your kind supporting look forward to your continued patronage.
Assuring you of our best intentions.
Freedom 251 Team.”
Is this one way Ringing Bells is trying to limit damages in case it can’t deliver the phone at that price? Only time would tell. All we know now is the fact that knowledgeable people in the smartphone business claim it is impossible to sell the Freedom 251 at that price, because the cost of the cheapest materials needed to make the phone are even more than $4.
Aside the economics, there is the issue of the the design. Apart from the advertised phone looking like a badly cloned iPhone 4, people who already got the phone saw a really poor attempt to re-brand the Adcom Ikon 4, a cheap Chinese smartphone that retails at between $50 and $60. This leads back to the economics of the freedom 251. If Adcom’s Ikon 4 sells at lets say, $55, how can Ringing Bells break even by selling the same phone at just $4? Is somebody heavily subsidizing the phone? If not, I don’t see how the company can survive with that kind of outlay.
For now, the waiting game continues. Only time would unravel if the whole thing was a publicity stunt used to separate advertisers from their money; or if there really is a 4 inch, Lollipop Android smartphone called freedom 251.
photo credits: google.com; deccanchronicle.com; freedom251.com


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Major renovations on display for Soulard Market
This article first appeared in the St. Louis Beacon, June 28, 2012 - The city unveiled a master plan for renovations to Soulard Market on Wednesday. The city hopes the renovations will create a vibrant shopping market that will attract more local shoppers and produce more revenue for vendors. Changes will be made to market operations, management, tenant mix, hours of operation, parking and the structure.
Under the city's plan, the market would be open year round on Thursdays through Sundays. It now runs Wednesdays through Saturdays. The new tenant mix would bring in more farmers and prepared food vendors, whereas many of the vendors now get their wares from produce row. During the summer, a regional farmers-only market would be on the plaza outside the market. Improvements in parking would also be made.
Gary Bess, director of the Department of Parks, Recreation and Forestry, said the plan was created with input from the public, with the city giving customers and vendors surveys to see what needs to be improved.
"Soulard Market and Park make up a gem in our city," Bess told the 200-plus people who attended the open house. "The City of St. Louis is proud to present the results of extensive evaluation of the market and our plans for improvements and making it a destination for locals and visitors alike."
Bess said this was the last public meeting the city was having before sending the proposal to the City Planning Commission. Attendees could offer their opinions in a survey at the open house.
Vendors air concerns
Dan Wright has been a full-time vendor at the market for four years. He and his wife sell natural soaps, spices and flowers at their booth, Heaven Sent Home Spun. Wright said the market definitely needs improvements to the structure, and that he says will bring more crowds.
"You cannot eat better or cheaper than Soulard Market," Wright said.
He said he believes there will be a lot of "yelling and screaming" among vendors because they won't want to change, and those who don't will leave the market. Wright said he was concerned about how the renovatns would affect the vendors. He also said opening the Market on Sunday would be difficult for many vendors since it is their only day off. However, he said if people show up he will be there.
Sharon Wiszkon, a fourth generation vendor at the Market, is unhappy with the new plans.
"I just don't understand how this works," she said.
She said there should have been more input from the vendors and the city should have shared the plans with the vendors before opening them to the public. Wiszkon said if the city proceeds this way it will hurt business.
She said she is also worried the renovations will take away from the historic atmosphere of Soulard and turn it into a grocery store.
As for being open on Sunday, Wiszkon said it would just stretch the customers out over the two days and would not increase business.
Not all vendors are unhappy. Pete Sharamitaro, who worked at the market for 42 years, now works at the Soulard Florist with his daughter Jean Waters. He says he loves the plans, and the changes should have been made years ago. The only change he dislikes is the change in hours.
"Sunday is the day we're supposed to go to church," he said.
However, he said if they open on Sunday he will be at the market.
Bess said there is a chance of rent increasing, but he said he believes the changes will increase revenue for the vendors.
According to the city, rent prices are now very low, which provides disincentives for vendors to be open during the week. The lack of vendors discourages customers. Under the new plan, rent would be set based on location, type of vendor, day of the week and season of the year.
The plan is divided into three phases. Phase one is estimated to cost $3.5 million-$4 million and would include improvements in public rights of way, structural repairs to the vendor areas, plumbing, fire alarms, trash enclosures and improved graphics and signage to make it easier for shoppers to navigate between farmers and resellers.
Funding for the total $14 million-$16 million project would come from a Parks Bond Issue, future parks tax, grants and private donations.
Bess said he hopes that by the winter of 2013 plans and designs will be in progress and renovations will begin in the summer or fall.
To view the plans presented at the open house visit www.stlouis-mo.gov/government/departments/parks/soulard
To share your opinion on the plans visit www.vandivergroup.com/SoulardOpenHouse.html before July 9.


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Girl In Red has created a new custom Pride guitar in association with Fender.
The one-of-a-kind guitar will be auctioned off in a raffle to raise money for the Kaleidoscope Trust, who protect the human rights of LGBTQ+ people in countries with strict laws on sexuality.
The Fender Player Series electric guitar features the rainbow colours of the Pride flag, and entries for the raffle start at £5, finishing at midnight on August 2.
Speaking about the new initiative, Girl In Red said: “As a privileged queer person, I feel it is important that I am as loud as possible. Music can create an incredible and safe space for those who need it the most and this feels like an authentic way I can help others in the community.
“My first electric guitar was a Fender and the rainbow flag is such an iconic and positive design that I hope everybody loves this guitar as much as I do. What’s better than raising money for an amazing cause and helping somebody to pursue their music dreams at the same time!?”
Girl In Red recently discussed working on her “more mature” debut album during lockdown. “My grandma even said it: ‘Marie, you’ve grown so much this past year’,” she said. “So I feel like my new music sort of reflects that growth, that’s sort of been off-screen. Nobody has seen it because it’s not really been in my music yet.”


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Social media platform Facebook and internet search giant Google are the two most popular internet services in Africa, according to mobile software provider Opera.
The company published a study, entitled State of the Mobile Web, documenting the ten most popular websites in African countries, Facebook is four times as prevalent in the top spot of most accessed domain for African Opera Mini users, with 41 top placements, compared to Google’s nine places,” the company said.
This year Facebook had over one billion users and has set its sights on Africa for further user acquisitions, The company forms part of the Internet.org initiative, planning to provide five billion people around the world with internet access.
Google has also expressed interest in connecting the “unconnected” by launching solar powered balloons over the South Pacific ocean to beam internet access to rural areas.
Opera said other international domains, including Wikipedia, Yahoo and YouTube, also made it into the top ten.
“Local websites are, to a lesser degree, represented in the top-ten lists for each country,” Opera said.
“A closer look at these sites shows some interesting differences in the various countries. For example, Botswana has educational sites such as Botswana Educational Council very highly ranked, presumably to check enrollment and grades. Other countries, one being Libya, have local lifestyle sites like Sedty high on the most-visited lists,” it said.


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Vietnam – CPI: from dining to conference table
Last weekend, I visited the family of an acquaintance and fell into a funny situation. Everything began from a discussion about the consumer price index (CPI).
At the dinner, the husband said he could not understand why people are screaming when the inflation rate is so low.
Hearing that, the wife actually screamed. After citing a lot of goods that have had price increases, she told her husband: “Go to market and see if your salary is high enough to support the family and feed the two children.”
The wife, like millions of other women who balance checkbooks at their homes, now feels constant anxiety about the price increases of goods and services.
However, the husband had reasons to say that the inflation rate is low and inconsiderable. The General Statistics Office (GSO) reported that the CPI in the first six months of the year increased by only 2.44 percent, while the core inflation rate increased by 1.25 percent over the same period last year. These are mild increases and far different from what is happening in real life.
Late last week, Chair of the Vietnam Association of Construction Contractors Nguyen Quoc Hiep sent a report to the Prime Minister, citing difficulties, including the heavy fluctuations of material prices.
Since late 2020 and early 2021, steel prices have increased by 20-60 percent, cement prices from VND1,400 per kilogram to VND1,980, and asphalt from VND11,000 to VND15,500 per kilogram. Hiep said all building materials are seeing sharp price increases, thus increasing bidding package costs by 18-30 percent. Because of these challenges, construction companies are fading away.
The screaming from business associations about price increases can be heard everywhere, at forums, seminars and in newspapers. But it is not shown in the CPI calculated by GSO.
As Vietnam’s economy has high openness, events in the world market have an immediate impact on the domestic market. However, the CPI in Vietnam is going against the upward trend that is seen in markets with which Vietnam has close trade ties, such as the US, EU and Japan.
IMF has predicted that the inflation rate will be 5.7 percent in developed economies, 8.7 percent in emerging markets and developing economies, or 1.8 and 2.8 percentage point higher than the level predicted earlier this year.
According to former GSO’s general director Nguyen Bich Lam, every 10 percent increase in petrol prices increases the CPI by 0.36 percent of GDP. The petrol price increases not only lead to price increases of goods and services, but also to a higher CPI.
Moreover, China is pursuing its zero Covid policy, which has caused disruption in supply and production chains, and it is still unclear when the problem will be settled.
A question has been raised about why the Vietnam dong price is high if the official CPI is so low. Local newspapers report that deposit interest rates offered by some commercial banks have soared to 7-7.3 percent. A banker said that lending interest rates have surged to 10-12 percent at some banks, while borrowers in many cases have to spend 2-3 percent additionally to get loans.
There are also other factors that cause inflation, including a high credit growth rate of 17.09 percent, money supply of over 180 percent of GDP, and an increase of 11.7 percent in total retail sales of goods and services in H1 in comparison with the same period last year.
Pham The Anh from the National Economics University pointed out that the modest 2.44 percent inflation rate in the first six months “doesn’t truly reflect the real situation”.
“The figure is inaccurate, doesn’t truly reflect the real situation and has no reference value. It doesn’t help policymakers make reasonable decisions and it even worsens the policy-making abilities of state agencies,” Anh told Tuoi Tre.
Statistics play a very important role in making policies. The story of 15 years ago shows this.
In 2007, after joining the WTO, Vietnam’s economy saw a boom. The State Bank of Vietnam (SBV) then projected a credit growth rate of 18-22 percent over 2006. In late 2007, the central bank reported a 34 percent growth rate, higher than the goal.
As the CPI was too high, at 12.6 percent, Director of the Financial and Monetary Department under the Ministry of Planning and Investment (MPI) Le Quoc Ly had doubts about the credit growth rate and he re-calculated the figure.
Ly then reported to the then Minister of Planning and Investment Nguyen Hong Phuc that the real credit growth rate in 2007 was 57.53 percent. And Phuc used the figure in the official report to the Government.
I relate this story to show how statistics are important in regulating the economy. Only when truly diagnosed will it be able to find suitable medicine to treat the disease. If high inflation is not treated in a timely way, this may cause immeasurable consequences.
In 2021, the average income of urbanites was VND5,388,000 a month, or $7.8 per day, while the income of people in rural areas was VND3,486,000, or $5 per day.


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ARLINGTON, Va., Sept. 2, 2016 /PRNewswire-USNewswire/ -- Today, American Trucking Associations recognize the 7.3 million trucking industry employees who make valuable contributions to safely moving America's freight ahead of Labor Day Weekend. ATA also encourages industry stakeholders to prepare for the upcoming National Truck Driver Appreciation Week, being held nationwide September 11-17.
"Those who work in the trucking industry or personally know a truck driver understand the important work that these men and women do on the road each day," said ATA President and CEO Chris Spear. "Truck drivers are safe, dedicated individuals who help provide our daily goods and I hope the public celebrates and thanks all 3.5 million of them during National Truck Driver Appreciation Week."
The trucking industry, which provides one out of every 16 jobs in America, moves more than 70.1% of the nation's total freight tonnage. Further, more than 80% of U.S. communities rely exclusively on trucking for delivery of their goods and commodities – providing access to 21st century products to both remote rural communities and urban centers.
This year's National Truck Driver Appreciation Week is September 11-17. Morning shows throughout the country are broadcasting live via satellite from ATA First Vice Chairman Kevin Burch's Jet Express facility in Dayton, Ohio, where America's Road Team Captains will discuss the trucking industry and the professional truck driving career. Motor carriers and industry suppliers are encouraged to browse ATA's NTDAW Event Ideas and host appreciation events as a way of saying thank you to truck drivers and their families.
"Truck drivers are incredibly vital to our economy, but they're also valuable members of their communities, oftentimes serving as baseball coaches, pastors and volunteers," said ATA First Vice Chairman Kevin Burch. "That level of civic engagement is a unique foundation of the trucking industry, and whether truck drivers are delivering FEMA disaster relief aid or dropping their kids off at school they are focused on safety at all times."
The official 2016 NTDAW logo can be downloaded on the ATA website. The site also offers resources ranging from state proclamation drafts to examples of editorials for trucking industry affiliates to enhance their driver appreciation events. ATA provides these resources to the industry to make it easier for passionate industry professionals to engage their communities in this important week. These resources improve the image of the professional truck driver and demonstrate community support for the challenging work that drivers do each day.
ACT 1 is a premier sponsor of National Truck Driver Appreciation Week. Sponsors for National Truck Driver Appreciation Week also include Help, Inc., Provider of PrePass, Velociti, U.S. Legal Services, Smart Drive and Trucker Path.
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation's freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/labor-day-offers-preview-of-national-truck-driver-appreciation-week-300322245.html
SOURCE American Trucking Associations


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On Tuesday, October 2, Amazon announced that will raise its wages for all of its seasonal, temporary, part-time, and full-time workers in both the United States and the United Kingdom after public criticism over controversial working conditions and low pay. The pay raise will start on November 1, 2018, during the beginning of the fall and winter holiday season, especially during Thanksgiving, Black Friday, Christmas, and Hannukah.
The pay raise will vary in both countries. All of their own American workers will be paid $15 per hour, higher than the federal minimum wage of $7.25 an hour and other state minimum wages nationwide. All of their own British workers will have a pay raise from £8.20 or $10.64 an hour to £10.50 or $13.62 an hour in London. Outside London, the pay rate will increase from £8 or $10.38 an hour to £9.50 or $12.33 per hour.
The online retailing company, which is worth more than $1 trillion and their own founder and current CEO, Jeff Bezos, is worth more than $164 billion that makes him the richest person in history as well as currently in the world, has more than 575,000 employees worldwide. Amazon has been criticized for a wide variety of issues in recent years including preventing their workers from forming an organized labor union, not paying their fair share of taxes or not paying taxes at all, its own handling consumer data, not following anti-trust laws, and controversial working conditions at their shipping warehouse such as increases in workplace injuries and urinating on the job without little to no bathroom breaks.
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Former Astronaut Mark Kelly Will Run for Senate in 2020
If elected in 2020, Kelly will become fourth-ever American astronaut elected to Congress.