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With so much uncertainty disrupting the footwear industry, Keen is relying on its values to forge ahead.
Speaking with FN, Steve McCallion, SVP of global marketing and creative at Keen, explained how sustainability — as well as smart decision-making around supply chain issues and inflation — has largely driven its recent successes. And several of the Portland, Ore.-based company’s purpose-driven efforts have resonated widely.
For example, Keen encouraged the outdoor industry in March to support its initiative to help Ukrainian refugees who have been displaced from their homes, a result of the Russian invasion of Ukraine. Its own commitment included a donation of 50,000 euros in both cash and products to support Ukrainian refugees at the Poland, Slovakia and Hungary borders. And in April, Keen moved its “Making Waves” partnership with Outdoor Afro and the YMCA forward, which was created to tackle the Black youth drowning crisis, by releasing a limited-edition sandal collection that raised funds for scholarships for swimming lessons.
On the sustainability front, Keen challenged brands in the outdoor space in March 2021 to be PFC-free by 2025. Doubling-down on its challenge, Keen committed 10,000 hours and spent more than $1 million to hit its own PFC-free goal. And in July 2021, McCallion revealed to FN that its Harvest upcycle waste program will be a greater focus looking ahead, which includes the creation of footwear using car seat leather.
Keen’s efforts are paying off. The brand said it experienced 30% growth in 2021, and this year, it is on pace to hit 40%.
Below, McCallion reveals how its values will lead to success in 2022 and offers insights into its supply chain and inflation strategies.
What is Keen’s strategy for the back half of 2022?
“We’re fan-obsessed, and there’s a bunch of new fans who have come into the marketplace and the outside space. The strategy is just continue to serve those fans. Keen’s about bringing people together, about outside and not outdoor — our definition of outside has changed — and Keen’s been there from the beginning. Keen hasn’t been so strictly focused on recreation. It has been about living outside. Our promise is to inspire people to live with no ceiling, and that means eating outside, sleeping outside, playing outside. Outside can be good for you, we know that, the data shows that and people need healing right now.”
Keen experienced 30% growth in 2021 and is on pace to hit 40% in 2022. What fueled this growth?
“Alignment around values and good decisions from a supply chain and operations standpoint. Before the pandemic, people were calling hike the new yoga. There were indications that folks were looking to outside as the next activity for them. The pandemic obviously tipped that. And we were able to maintain a positive position from an inventory standpoint. As inventory went through a big whiplash, we held our course. The other piece is the alignment of our values to the values that people are looking for right now. You have this self-care, we-care thing going on where people are looking outside to heal.”
Up to 40% of Keen product is produced in company-owned factories. What benefit does this offer Keen?
“Most footwear companies are using contract manufacturers, and many of them are going to the same contract manufacturers. What that means is that someone else is running your factory. Your ability to pivot, to have an agile supply chain, is limited. In a complex environment, you’re beholden to other people. Also by owning our own, we took very stringent precautionary measures to protect our folks. We were the first ones to change our lines to building masks. The reason we started building masks was for the folks working in our factories to keep them safe. By operating this way, you’re able to maintain continuity, you’re able to be more agile and flex as far as what’s happening in the environment.”
The sustainability-focused Harvest program is a big deal for Keen. How will it evolve?
“Just more of it. Our goal to minimize our footprint, to reduce our footprint, is the more upcycled and salvaged stuff we use in our products, the better. We’ve been using PET stuff in their straps and things like that, and 10 years ago we did Harvest bags where we took reclaimed tarps and made bags out of them, and started working on shoes more recently with the car seat leather. When you look at car seat leather and the production of it, you have all this beautiful leather, super high-quality leather, and when you get the patterns out you have all this waste. They’re just discarding that stuff, so we’re like, ‘We’ll take it.’ And then we’ve got the bio PU, that’s agricultural waste. Think about it as corn husks and or stalks and things like this that are part of the agricultural waste system that we’ve got in our Elsa and Eldon shoes. We’re committed to growing that to a greater percentage of our product line to be Harvest. The opportunity there is to get things like our Newport with Harvest. Those are the places that we’re investigating.”
How is Keen dealing with inflation?
“The last couple of years have been pretty crazy as far as doing business. Adding inflation to it was just another component. We’re fighting on multiple levels. One level is from a factory standpoint. How can we innovate? How can we adapt to find ways to reduce the cost of the product without reducing the quality of product? There is a lot of de-featuring going on right now. People are saying, ‘I’m going to de-feature my specs in order to keep my margins going. We’ve had a couple of price increases over the last year but we’re dealing with on the innovation side of things, trying to innovate so we don’t have to raise our prices. It’s our intention to provide value to our fans at a price they can afford. Does it mean we start making cheaper goods? Devaluing our goods? No way, because they look to us to buy things that last a long time.”
How has Keen worked to mitigate the impact of the supply chain backlog?
“It goes back to 40% of our factories that we own, we have more and more control over that. Our leadership team practices agile methods. Together, we believe that these things are just problems to be solved and that if you’re innovative and working well together as a team you can sort your way through it. We’ve been able to mitigate a majority of that stuff, but it’s not been without a tremendous amount of energy. The untold story of people that have product in the marketplace is everything they did to get that product in the marketplace. The amount of energy our crew does on the supply chain side of it is immense. Everything from not panicking and pulling all orders to having the relationships with the factories, maintaining those relationships. There are challenges, obviously, to the global supply chain piece. We’ve been out of China for six or seven years, meaning factories. Components come from different parts of the world, sometimes some components come from there, but our exposure is extremely minimized from decisions that were made a long time ago. It’s all solved with agile Keen-work — teamwork but better. But there’s still no rest for the weary here. This is the most intense environment that you can be operating a business in.”
How has consumer outreach and behavior changed? And how will it continue to change?
“Everybody went into their phones even more than they were before. Physical retail spaces played less of a role, events played less of a role, physical environment played less of a role and everything went digital. At the same time, privacy features, trackability features changed, so the efficiency of advertising digitally dropped off considerably. And competition has increased considerably in that space. There’s a saturation of things in that space, and you’re seeing folks who are addicted to the feed but also exhausted by the feed and not responding to it anymore. That stuff is not going to go away, but I also think that there’s room for more meaningful ways to engage with the fan. And before, outdoor was intimidating. I think the positive aspect of the pandemic was everyone got to go outside. You had people going outside and never been outside before. People were just like, ‘I just want to get outside. We’re going to stir crazy and we want to stay outside.’ That, combined with a mental health crisis that’s broader, a global existential crisis. We see it as the real pandemic being social media, and that the enemy is the algorithm and it’s divisive and rips people apart. People are beginning to realize aspects of that, and with a little help, we can help that more people realize the truly scientifically proven aspects of being outside, the ability to decrease anxiety, fix PTSD, ground you, connect to all those types of things to really take hold. Before, outdoor was about achieving, it was about bagging a peak or conquering a rapid. The mindset has totally changed. Brands that authentically understand that and understand how to speak to that is very important.”
How will the virtual and live worlds pan out? What will change forever with the digital world?
“One thing that has changed forever and will not go back no matter how many people try to make it so is the way we work. That has changed forever, and some places are trying to deny it. That doesn’t work. Remember the images where there used to be a big room in a grid with typewriters and people sitting there like it was a typing corps? They went away. People have this notion that work can’t change. Well, work did change. We were still just working in old ways. And the whole metaverse, we’re exploring what that means and what that looks like and what’s an authentic way for us to participate in it. For us, it would be in the context of having it augment our values and what we’re trying to achieve. If we can augment people getting outside and connecting and having together moments, those are the things that we’re exploring. If it can augment the way that we track where materials come from so we can assure the supply chain is clean and we can reduce the carbon footprint of everything that we make, which is what blockchain can do. It can allow us to do that, and that’s exciting.”
How is Keen approaching its return to office plans? And how is this evolving?
“We’re going with a phased approach. We’re treating it like smog alerts because you don’t know. Everyone is like it’s post-COVID. I don’t know, wait to the fall to see. There’s been discussions around do you try to have a three day on, these days off or whatever. Some people call that hybrid. When we talk about hybrid, we mean work with no ceiling. Some people to get their work done need to have interactions with people, from a collaborative space, so it changes with the work. When you have a strong culture, you have a strong mission, a promise of what you’re trying to do, it becomes easier that you don’t have to regulate that kind of stuff.”


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Tommy Hilfiger Group, wholly owned by Phillips-Van Heusen Corporation (PVH), has announced the launch of a new division that will take control of the Arrow brand in Europe and manage the future introduction of additional Phillips-Van Heusen brands in the European market. The new division, PVH Europe, will be based in Amsterdam.
Michael Arts, who has been serving as executive vice-president of Global Brand Management for Tommy Hilfiger, will assume the additional role of president of PVH Europe and will be supported by a dedicated team as well as the existing Tommy Hilfiger European infrastructure.
“Since joining forces with PVH in May this year, we have studied the opportunities for international expansion of PVH’s most iconic brands, using Europe as a starting point. We strongly believe in the global potential for the Arrow brand due to its extremely credible – almost unparalleled – American heritage. Arrow’s heritage goes back over 150 years and the brand has a wealth of history in its archives ready to be rediscovered and interpreted for today’s world,” said Fred Gehring, CEO, Tommy Hilfiger Group and PVH International.
Gehring continued, “Long before our acquisition by PVH, we viewed Arrow as one of the most interesting authentic American brands. With the launch of PVH Europe, we are extremely excited to realize its full potential under Michael’s passion and leadership.”
Arrow will premiere as a featured brand at Pitti Uomo Imagine in Florence in January 2011.
Michael Arts, president, PVH Europe, said, “For some time now, I had been eager to immerse myself in the Arrow archives, imagining that it would hold many treasures. When I finally had the opportunity to do so, I found an enormous collection of imagery, design, merchandising and marketing ideas, all of which were extremely innovative for their time. The rich history provides a strong platform for Arrow to eventually be developed into a lifestyle brand with strong category specialisation. I strongly believe in this opportunity and can’t wait to get started.”
Phillips-Van Heusen Corporation, one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world’s largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, Arrow, Bass and GH Bass & Co, and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Sean John, Chaps, Trump, DKNY and Timberland, among others.
– IndiaRetailing Bureau

domain: news


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Turkey has decided to fine 10 international investment institutions a total of TL 26.4 million ($3.2 million) over irregularities in short-selling transactions, the country’s Capital Markets Board (SPK) said.
The coronavirus pandemic led to “drastic” changes in the e-commerce sector, as users embraced digital payments, were forced to buy staple food items online.
While there are some clear benefits that come with gig work, namely convenience, flexibility, higher unit pay, and greater efficiencies, there have been raised questions around minimum wage requirements, worker protections, and consumer rights.
Noida- and San Francisco-based Innovaccer has become the first Indian healthtech unicorn after raising an undisclosed amount in a Series D round.
Digital alternatives to in-person onboarding can help banks circumvent substantial losses.
Millions of phone banking customers benefit from fast, safe and simple verification process while removing the need to worry about passwords or security questions.


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CHICAGO -- Expanding a business during a recession is tough. Doing it while your parent company is operating under bankruptcy protection is tougher than, well, shoe leather.
But that's exactly what Chicago-based Florsheim Shoes has done over the past 18 months.
Early last year, its parent company, Interco of St. Louis, after successfully fighting an unwanted takeover, was forced into Chapter 11 bankruptcy protection, dragged under by the $1.9 billion in debt it incurred in resisting advances by the Rales brothers of Washington.
For most companies that are part of a larger whole, such a bankruptcy filing would have disrupted plans for expansion of product lines or the opening of new stores.
Surely there are not many cash-strapped holding companies that would have allowed Florsheim to expand its product line into casual and cheaper footwear and to open 300 shoe kiosks in Sears, Roebuck and Co. stores.
But such is the Florsheim name that 90 percent of the shoemaker's vendors said they would continue doing business with the company.
A key was Interco's promise to repay creditors 100 cents on the dollar -- a promise not often made in bankruptcy filings.
"The only problem we've had is the outside world and the stigma associated with a bankruptcy," said Ron Mueller, president of the century-old shoe company.
The Sears kiosks were opened without a hitch; the Comfortech Imperial line of shoes was test-marketed successfully; in January the firm announced the line would be introduced worldwide; and in March the firm introduced a walking shoe, jumping into a highly competitive and fragmented market.
Mueller said creditors made no effort to rein in Florsheim's ambitious expansion plans.
"Our strategy was carried out in total. We're opening new stores and expanding internationally," he said.
Barbara Wedelstaedt, an analyst for Chicago-based Duff & Phelps Inc., concurred that Florsheim appeared to be hitting its marks.
So successful has been Florsheim's strategy that the firm has managed to increase its market share during the recession.
The increase has been broad-based, both at retail and wholesale levels, said Michael Kormus, president of Footwear Market Institute, the Nashville, Tenn.-based compiler of shoe-industry statistics. "Sears has certainly played a role in that," he said.
Mueller agreed. "We did a lot for Sears, and it picked up our base," he said. "Sears is becoming a quality account."
Mueller said he does not see Florsheim backing off from more expansion plans this year.
"We opened 10 or 15 Florsheim Express shops last year and we could open as many as 20 this year," he said.


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Muller factory dispute escalates with 11 day all-out strike
- Wednesday 19 October 2022
M&S and Waitrose to be hit hardest in strike over breach of rota agreement
HGV drivers and shunters at Mullers’ Stonehouse factory in Gloucestershire, members of Unite the union, will escalate their dispute over imposed rota changes with 11 days of all out strike action.
Around 70 workers will strike from 19 October to 29 October.
The employer is seeking to impose a change to a five days on two days off rota system to require all drivers to work at least one day every weekend.
The move is a clear breach of an agreement the company signed with Unite earlier this year.
The workers are responsible for delivering milk and other dairy products to M&S and Waitrose nationwide.
Unite general secretary Sharon Graham said: “It’s very simple; Muller signed an agreement with our members and they should stick to it.
"Unite will not accept attacks on our members’ jobs, pay or conditions. Mullers’ Gloucestershire workforce has the union’s full backing in this dispute.”
The strikes will disrupt the milk supply chain for products to the site’s main customers, M&S and Waitrose. Supplies to Sainsbury’s and Tesco, which receive deliveries from the Stonehouse plant, will also be disrupted.
Unite regional officer Amy Roberts said: “Muller needs to abide by the agreement it signed and drop these rota changes, which will negatively impact our members’ quality of life.”
For media enquires ONLY contact Unite communications officer Ryan Fletcher on 07849 090215.
Email: [email protected]
Twitter: @unitetheunion Facebook: unitetheunion1 Instagram: unitetheunion
Unite is Britain and Ireland’s largest union with members working across all sectors of the economy. The general secretary is Sharon Graham.


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Hate to say we told you so, but it looks like companies are finally starting to grasp the power of Pinterest. With Pinterest quickly becoming one of the top social media sites, big car companies like Peugeot and Honda are already on board.
These companies are not only just posting pictures, they are interacting with users on the site (a.k.a. “pinners”). This is not such an easy task for a global car company that has nothing to do with the typical pictures people upload to Pinterest.
Honda recently enticed pinners to have a “Pintermission,” meaning that they told top pinners to take a 24-hour break and gave them $500 to go visit places that they (the pinners) pinned pictures of. Some places included exotic locations and famous landscapes. The purpose of this campaign was to engage their target audience (young females) towards the Honda CR-V model. Of course, Honda chose Pinterest because of its popularity with the young female demographic.
Peugeot, on the other hand, didn’t target any audience specifically. Instead, they took advantage of Pinterest’s layout and created a puzzle with pictures of their vehicles. If a pinner successfully figured out the puzzle, which incorporated clues from Facebook and Twitter, they would win a prize. The puzzle competition helped Peugeot garner more fans on Pinterest and other social media sites at the same time.
Shockingly, most other major car companies are not taking advantage of Pinterest. Even scarier is the problem we’ve seen happen over and over…with domain names, Facebook, Twitter, and now Pinterest: Some pinners have already reserved the names of major car companies, thus creating a problem when the companies try to create an account and can’t use the name. This will probably become a legal issue, and things will eventually get sorted out for brand names…but any possible campaign may be dead in the water until then.
To claim your brand name on Pinterest and creatively take advantage of this emerging social media powerhouse now, give The Primm Company a call at 757-623-6234.
Source: Ad Age


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The app allows FetchTV customers to bet on sporting events as they watch them live on TV.
When launched FetchTV customers will be able to use the Betfair TV application on screen to bet on sporting events as they watch them live on TV. Through a broadband connection and a simple user interface Betfair TV have created a must have for sports fans who like a bet. A few presses of the remote control will get viewers directly engaged with the action.
The deal signifies the first time that interactive betting will be made available via a Freeview set top box. Betfair currently have over 3 million registered users.
Eddie Abrams CEO IP Vision said: « The connectivity of our SmartBox has been at the forefront of signing this deal with Betfair. As applications for connected TV’s and set top boxes become more commonplace consumers will start to embrace them on a much wider scale. Our set top box provides a cost effective way to utilise connected applications such as this one.
He added: « The application will be launched in August and we’re confident that this will be the first of many more over-the-top interactive services we can add to the FetchTV platform to ensure our customers enjoy everything that technology has to offer.«
Simon Miller CEO Betfair TV: « Our customers thrive on live televised sports—connecting a TV to the internet is becoming commonplace. With the Betfair TV widget putting a bet on a match, or any sporting event, as the action unfolds takes a few simple button presses on the remote control. Our comprehensive, up to the second odds are ideally suited to this medium.«
The Betfair TV app will launch on FetchTV in time for the start of the English Premier League in August 2010. Source


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Researchers Develop 'Smart' Walking Stick for Visually ImpairedResearchers Develop 'Smart' Walking Stick for Visually Impaired
The smart cane uses AI and computer vision to help users navigate their surroundings
January 24, 2023
A new AI-enabled walking stick can help those who are blind or visually impaired navigate and help with everyday tasks from grocery shopping to finding a seat.
The smart walking stick was developed by a team of engineers from the University of Colorado, Boulder, and features a camera and computer vision technology to map and catalog the user’s surroundings. It then uses vibration and spoken instructions to guide them through a space.
"I really enjoy grocery shopping and spend a significant amount of time in the store," said Shivendra Agrawal, study co-author. "A lot of people can't do that, however, and it can be really restrictive. We think this is a solvable problem."
In tests, the team deployed the smart walking stick in a cafe-like environment in the lab, with customers, tables and chairs for the user to navigate. Using the camera-mounted cane, algorithms running inside a nearby laptop identified obstacles and the ideal seat and calculated the best route to get there. Instructions were then given to the user to guide them there.
"AI and computer vision are improving, and people are using them to build self-driving cars and similar inventions," Agrawal said. "But these technologies also have the potential to improve quality of life for many people."
Study results showed subjects were able to find the right seat 10 out of 12 times. While study participants have thus far been sighted people who were blindfolded, the team plans to extend the study to those who are blind or visually impaired once the technology is proven more reliable.
The smart cane was also deployed in a makeshift grocery store environment, though results from this experiment have not yet been published. The team has also said they want to make the system more compact, with the algorithms running on a smartphone rather than a laptop.
"Our aim is to make this technology mature but also attract other researchers into this field of assistive robotics," Agrawal said. "We think assistive robotics has the potential to change the world."
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American Soybean Association CEO Ryan Findlay said Thursday that China's retaliatory tariffs of 25 percent on U.S. beans have dealt farmers a major blow because it's led to low prices that essentially don't support paying bills.
"Farmers see that pain right now," Findlay said in an interview on CNBC's "Power Lunch." "You have to have the prices to pay the bills — and the prices aren't there right now."
U.S. soybean futures have fallen nearly 20 percent since China announced on April 4 plans to slap a 25 percent tariff on 106 U.S. products, including soybeans. At the same time, Brazilian soybeans are fetching a significant premium over the Chicago prices due to increased demand from Chinese buyers.
"If somebody were to lose 20 percent of their income, that hurts," Findlay said. "I don't care what segment of industry you're in, that hurts — and farmers are feeling that right now. And they're starting to feel that emotional impact."
Findlay said another ripple effect is farmers holding off buying farm equipment because "they won't have the funds to make that purchase."
According to the soybean industry official, the administration's trade policies have "hurt" U.S. soybean prices. He called the situation "very frustrating," even for supporters of President Donald Trump.
Findlay said, however, that he thinks U.S. farmers are generally supportive of Trump's position on issues such as theft of intellectual property by China.
Trump sought to reassure farmers on Wednesday in two tweets: "I am in Brussels, but always thinking about our farmers." A second tweet had the president pledging he's "fighting for a level playing field for our farmers, and will win!"
Findlay was asked if Trump was being sincere. "We're going to find out," he responded. "Hopefully we see some effort to help some of these long-range efforts on our part to develop new markets."
The soybean official also believes economics will play a role when farmers go to vote in November's midterm elections.
"I think farmers are going to pay attention to their farms first," he said, "and when they go in to the ballot box there's a host of issues that they pay attention to. But economics are No. 1 for them."
Top soybean-producing states include Illinois, Iowa, Minnesota, Nebraska, North Dakota, South Dakota, Indiana, Missouri, and Ohio — many that Trump won in the 2016 presidential election. The U.S. pork industry — pork is another big commodity produced in the nation's heartland — has been hit by hefty tariffs, and there are other key farm products, including corn, wheat and cotton.
"If the president isn't going to move off center with the tariffs, then we need to look at other long-term solutions that we can focus on," said Findlay. "And that's what we're pushing with the administration and with members of Congress."
Nearly $20 billion in U.S. agricultural exports went to China last year, with more than half of that amount coming from soybeans. Mexico also is another major buyer of U.S. agricultural products and has slapped tariffs on several farm or food products, including American pork and cheeses.
While China is clearly "a huge market for us," Findlay said there was a need for the U.S. industry "to diversify that marketplace." He also called on the U.S. administration to make other trade agreements and to improve export development programs that the federal government conducts to help American farmers.
At the same time, Findlay said the U.S. is vulnerable to longer-term impacts as competitors such as Brazil look to expand planted soy acreage and capture a bigger share of the global marketplace.
"Brazil is a major competitor," said Findlay. He said the South American country still has "millions of acres yet to go into production."
Together, the U.S. and Brazil represent about 80 percent of the global exports of soybeans.
The U.S. sold approximately 33 million tons of soybeans in 2017 to China, or just over one-third of the beans imported by the Asian country. By comparison, Brazil shipped more than 50 million tons of soybeans last year to China and represented nearly 55 percent of the total imports.


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Find out what QSRs have been up to on social media this week.
BRAND AND STORE UPDATES
Chilango is now delivering in Canary Wharf, courtesy of a partnership with Deliveroo.
Lola’s Cupcakes organised a live shopping event on their Facebook page.
NEW ON THE MENU
HOP Vietnamese launched its take on meal kits.
Tonkotsu partnered with Thornbridge Brewery to create the Mikan Shimoda Pale.
CHIK’N launched its Twisted Xmas burger.
Photo credit: CHIK’N Facebook
Do you know more about this story? Contact us anonymously through this link.


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California’s Proposition 37 would require foods containing genetically modified ingredients to be labeled. But a part of the initiative regarding what foods can be labeled "natural" has sparked controversy.
The fuss is over the language that supporters say aims to ban genetically engineered foods from being labeled "natural."
But now the state says the clause could be interpreted to apply to ANY processed food. Kathy Fairbanks is with the campaign that opposes the measure. She says the Legislative Analyst Office, the Attorney General and a judge have all weighed in on the language.
"All three agree that wording in this measure could be interpreted to mean that processed foods with no GE would be prohibited from labeling natural." This would mean processed foods such as olive oil, which doesn't contain genetically modified ingredients, could not have the label "natural" on it.
But Stacy Malkan and supporters of the proposition says that's not the initiative's intent.
"Basically this is being made out to be a big confusing issue, but it's a non issue, bec no reasonable judge in a court of law actually ruling on the meaning of prop would interpret meaning to apply to non GMO foods. It just makes no sense."
Still, the language voters will see on the November ballot will say that the measure "prohibits marketing genetically engineered foods and processed foods as natural."


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MIDAS SHARE TIPS UPDATE: Play safe and take some profit after palm oil firm MP Evans rejects £360m bid
Palm oil producer MP Evans was on the receiving end of a surprise £360million offer last week from Kuala Lumpur Kepong, one of the world’s largest plantation groups.
The bid values each MP Evans share at 642¼p, a 51 per cent premium to the 426¼p closing price the day before the offer was made.
The price might look generous, but it was immediately rejected by the MP Evans board and within a couple of days, shareholders owning more than half the stock also said they would turn down the offer.
Offer: Palm oil producer MP Evans was on the receiving end of a surprise £360million offer last week from Kuala Lumpur Kepong, one of the world’s largest plantation groups
Midas tipped MP Evans in September 2011, when the price was 445p and prospects looked bright.
The stock moved ahead initially but fell back in 2014 and 2015, as markets became jittery and palm oil prices slipped.
This year, MP Evans shares began to recover. The palm oil price has risen and the company sold off its stake in an Australian cattle business to concentrate on palm production.
Today, the stock is at 618p – up 39 per cent from our tip – and the company believes it has a rosy future. It has 31,000 hectares of palm plantations in Indonesia, operates to the highest ethical standards and plans to expand its estate.
The group has also moved from purely harvesting palm fruit to making crude palm oil. Production was 100,000 tons from two mills last year and the group has just opened a third mill, so tonnage should rise from 2017.
MP Evans suffers in part because there are only a handful of palm oil companies listed in London and the market does not devote much time or effort to the sector.
Tip: Midas tipped MP Evans in September 2011, when the price was 445p and prospects looked bright
By contrast, Asian-listed companies are valued much more highly, which makes it that much easier for Malaysia-listed KLK to swoop on its smaller rival.
However, KLK’s bid is conditional on receiving acceptances from investors with at least half the shares and it looks as if that will not happen.
This leaves three options for MP Evans. KLK could raise its offer to a level that large investors would accept – thought to be at least 780p. A rival suitor could ride in with an alternative bid. Or KLK could walk away and leave MP Evans to its own devices.
Midas verdict: There is always a chance that KLK or another company will come forward with a higher price than 642¼p. However, that is by no means certain and if MP Evans is left suitorless, the shares will almost certainly drift back.
Cautious investors should sell at least 75 per cent of their shares now so they have banked a profit, even if a higher bid materialises.
The more adventurous may choose to hang on to their stock in the hope of further takeover action. Long-term investors may also choose to back MP Evans, as the business is hoping to forge a successful independent future.
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- H&H Classics auctions the classic 1983 Ferrari 308 GTB QV
- Top interior designer reveals tips to give your home a designer look
- Are beaten up UK bank shares an opportunity to profit?
- Aston Martin reveals the engine roar of its first SUV
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Think you know all about the Mario Kart series? Well, you might learn something new and bizarre about one of its racers today.
Dreamcast fans may recall the beloved Skies of Arcadia, which originally launched for the system in 2000 and got a GameCube port in 2002. Since then, fans have still been desperate for a proper follow-up to the cult-classic JRPG – and it looks like they’re far from alone!
For many fans, the GameCube controller remains a timeless classic to this day – and is most notable for its continued use in Super Smash Bros. tournaments around the world. Today, even Switch owners are still hungry for a controller as good as the GameCube’s – with one company even releasing GameCube-style Joy-Cons to cash-in. Well, one Switch fan has decided to take the GameCube dream to a whole different level!
A photo of a GameCube that has been repurposed into an ash tray recently went viral on the Internet even though it was posted four years ago.
Earlier today, Microsoft formerly revealed its upcoming new console – the Xbox Series X. One of its most unique features is that it looks like a clean vertical cuboid, which has apparently spurred some folks to draw odd comparisons with another older console.
Good news to those of you who missed out on the Super Smash Bros. Ultimate GameCube controller – restocks are on the way.
Despite launching more than 17 years ago, it looks like fans have discovered a strange and hilarious detail in the original Metroid Prime.
Nintendo of America has filed a fifth request to extend the time for the Eternal Darkness trademark in the United States – which was granted on 8 November 2019.
Interesting news about the Nintendo Switch – apparently the Switch has sold more games than the GameCube and Nintendo 64 as of September 30, 2019.
Did You Know Gaming? has released a new 11-minute video, which examines the beloved GameCube console.


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If you’re a fan of Nintendo, you’ve probably been eagerly awaiting the release of the next-gen console, which we’ll call the Nintendo Switch 2 for now. The original Nintendo Switch took the gaming world by storm, and with the subsequent releases of the Switch Lite and the Switch OLED, the hype around this versatile console has never waned. Here, we’ll dive into all the exciting details, from potential release dates to specs and features, and even some intriguing game possibilities.
Nintendo Switch 2 Possible Release Date: March or April 2024
The latest rumors, sparked by an article from research firm TechInsights, suggest that the Nintendo Switch 2 could make its debut as early as March or April 2024. This timeline aligns with the original Switch’s release, which was announced in October 2016 and hit the market in March 2017. While there’s no official word from Nintendo yet, we might be getting some concrete information soon, possibly in a September Nintendo Direct event.
Nintendo Direct: September 11-15
Speaking of Nintendo Direct, rumors are swirling about an upcoming event set to take place between September 11 and 15. Nintendo fans can catch these events live on the company’s YouTube Channel, and it could be the perfect platform for unveiling the much-anticipated Nintendo Switch 2. Furthermore, this timing coincides conveniently with the Tokyo Game Show, which starts on September 21, where Nintendo’s presence is already confirmed.
Sneak Peek at Gamescom 2023
Interestingly, there are whispers that Nintendo may have given select members of the gaming industry a sneak peek at the Nintendo Switch 2 during the Gamescom 2023 trade show in Germany. Rumors suggest they even demonstrated how well it runs “The Legend of Zelda: Breath of the Wild.” All these tidbits point to an imminent release date, although nothing is official yet.
Do you know that when Windows 11 came out, Microsoft said it would make major updates every year to keep making the user experience better? Windows 11 Version 22H2 was released last year, and the road since then has been peppered with smaller “Moment” upgrades, each of which has added new features and capabilities:
Nintendo Switch 2 Specs: The Heart of the Console
While we await more details, it’s likely that Nintendo will stick with Nvidia for the system-on-a-chip (SoC), possibly a next-generation version of the Tegra X1 chip found in the current Switch. However, there have been hints that AMD could also be in the mix. Regardless, a powerful chipset is expected to deliver a next-gen gaming experience.
One intriguing rumor suggests the possibility of a co-processor chip in the dock, enhancing power and video output when docked to a 4K TV. Onboard storage is said to be a substantial upgrade, with 512GB, a far cry from the 32GB and 64GB of the original Switch and Switch OLED, respectively.
Nintendo Switch 2 Display: OLED or LCD?
The display is a crucial aspect of any gaming console, and here, there are some mixed signals. While hopes are high for an OLED panel, which would be a logical follow-up to the Switch OLED, there are hints that it might stick with LCD technology to control production costs. This uncertainty leaves us curious about the screen tech the Nintendo Switch 2 will ultimately employ.
Nintendo Switch 2 Features: What to Expect?
As for features, we can only speculate at this point. Improvements to the Joy-Cons are hoped for, addressing concerns about stick drifting and adding analog triggers for more precise control. Ergonomic tweaks could also enhance the gaming experience.
Battery life is another critical area for improvement, as gamers often find the current Switch running out of power too quickly. Enhanced Wi-Fi connectivity could dramatically impact game streaming and downloading speeds, offering a more seamless gaming experience.
Do you know that if you’re an Apple fan, you’re undoubtedly curious about when the Apple AirPods Pro 3 will be ready for purchase? These headphones are a classic among iPhone users thanks to their innovative active noise cancellation (ANC) hardware and software:
Nintendo Switch 2 Games: Mario, Final Fantasy, and Beyond
One of the most exciting prospects is the games that will grace the Nintendo Switch 2. A new Mario game based on the Unreal 4 engine is rumored, along with reports that Final Fantasy 7 Remake will run like a PS5 game on the Switch 2, showcasing its power. Expect big first-party titles, such as a new Zelda game and a revamped Mario Kart.
Backwards Compatibility: A Must-Have Feature
Backwards compatibility is a feature many fans are hoping for, given the success of similar features on the PS5 and Xbox Series X. Running older Switch games on the new hardware could provide performance boosts and improved visuals. However, there are whispers that this might not be a guarantee, which could disappoint fans who want to enjoy their existing game library on the Nintendo Switch 2.
Nintendo Switch 2: What Lies Ahead!
In the world of Nintendo, secrets are well-guarded, and leaks are rare. However, the time seems ripe for a new and more powerful Nintendo console, and the Nintendo Switch 2 could be the answer. While we await official announcements, these rumors and speculations offer a tantalizing glimpse into what could be the next evolution of gaming with Nintendo. Stay tuned for updates, and keep those gaming fingers crossed for an exciting Nintendo Switch 2 release date in 2024!


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A fake gaming group has scammed people in Pakistan out of thousands of rupees. The Federal Investigation Agency (FIA) is cracking down on an online gaming group that is luring minors with promises of thousands of dollars in rewards in order to get their personal information and login credentials.
The group advertises these contests online and promises that the winners will get a variety of prizes. For kids to join these contests, they have to pay anywhere from Rs 6,000 to Rs 8,000. Then, the kids make fake profiles to try to win prizes.
Children are asked to send money online and other methods and terms of prizes if they do. Con artists quit chatting to gamers after receiving compensation. The latest example of this widespread problem is the theft of thousands of dollars from the bank accounts of minors.
FIA says that people who steal from innocent people will face serious consequences. An FIA official also told parents to watch how much time their kids spend online to keep them safe.
Under the Cybercrime Act, FIA agrees to take legal action against the scammers, even though neither the group nor the games, there is no mention of the victims.
We advise that players only enter reputable competitions in the future. When dealing with a new company, it’s smart to check out as much as you can about its history and reputation through online research and word of mouth. You can always file a report with FIA through their website if you see something suspicious on the internet.
Scams have become more common in Pakistan over the past few years, especially in the telecommunications and gaming industries. We’ve all heard about Razia, the girl who is always in the hospital and could really use some money right now. Tell the Pakistan Telecommunication Authority right away about any suspicious activity (PTA).


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FORTE among the best polish Exporters to the french market
On 10 December 2018 at the Embassy of the Republic of Poland in Paris, prizes were awarded to the best Polish exporters operating by the Seine. FABRYKI MEBLI “FORTE” S.A. was among the four winners.
For fourteen years, the Prix du Meilleur Exportateur Polonais en France prizes have been granted to companies with the highest export results in France in the particular year. This year, the gala took place under the auspices of the Minister of Foreign Affairs, Mr Jacek Czaputowicz, and the Minister of Entrepreneurship and Technology, Ms Jadwiga Emilewicz. In addition to FORTE, the other winners were: KGHM Polska Miedź, the Crist SA shipyard and Oknoplast Sp. z o.o.
The statuette was accepted by Member of the Management Board, Mr Andreas Disch.
Data gathered by the Central Statistical Office show a sustained upward trend in exports to France. In 2017, it amounted to EUR 11.6 billion, as compared to 10.1 billion in 2016. Last year, the group of best-selling Polish goods comprised road vehicles, electrical appliances and furniture – according to the information published on the website of the competition coorganiser, the Polish Investment and Trade Agency.


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The Columbus Region is at the forefront of automotive technology and smart mobility. Region manufacturers produce 700,000 cars a year, while the regional economic output for the economic industry exceeds $2.5 billion annually.
Nearly 19,000 employees make up the highly-skilled manufacturing workforce, making the region’s automotive share of employment four times greater than the US average.
As their headquarters of North American automotive manufacturing, Honda utilizes the robust workforce to produce more than one-third of their North American light vehicles in two local plants.
A multi-million dollar grant is helping a central Ohio tech company create the transportation of the future.
Safelite bought a Dallas-based auto glass repair chain, Richardson Auto Glass, which offers windshield and glass repair services at 10 locations in the Dallas area and western Louisiana.
The new RDX has a sleeker, sportier style than the departing model, plus new features such as a turbo-charged engine and 10-speed automatic transmission.
More than 1/3 of Honda's North America light vehicle manufacturing takes place in the Columbus Region.
Automotive supplier Stanley Electric has experienced growth for decades in the Columbus Region.
The sixth largest automotive parts supplier, offering top quality products, technologies and services.
Designing innovative solutions for smart mobility, with a particular focus on intuitive driving and reducing CO₂ emissions.
A quality manufacturer of precision, high performance, high function components for transportation applications.
A global supplier of automobile seats & interiors.
The City of Columbus won the U.S. Department of Transportation (USDOT) $40 million Smart City Challenge in June 2016 after competing against 77 cities nationwide to implement a holistic vision for how technology can help all residents to move more easily and to access opportunity.
Columbus was awarded a $10 million grant from Paul G. Allen Philanthropies to reduce greenhouse gas emissions through the de-carbonization of the electric supply and transportation sectors.
A 4 percent private sector workforce unionization rate is far below other automotive manufacturing hubs.


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2017 WOMAN OF MERIT NOMINATION FORM
Nominations are now being accepted for the 2017 WOMAN OF MERIT AWARD! The deadline for submissions is Friday March 3 2017. The Award is presented at our International Womens’ Day Luncheon. This year an award will be presented in Ear Falls and Red Lake.
Click here to download the form 2017 Woman of Merit Nomination
THE STEP IT UP COALITION - OPINION - JUNE 2014
DONATE TO NEW STARTS FOR WOMEN
New Starts for Women is always in need of your help.
SCOTIABANK RED LAKE DONATES COLLECTED TOILETRIES
For the past six years during the month of March, Scotiabank in Red Lake has collected toiletries for the New Starts Women’s Shelter. The new toiletries (from hotel stays which have not been used), pajamas, slippers and toothbrushes collected from the public at the local branch are a welcomed donation to the shelter. Photo: New Starts Executive Director Kathy Campbell (at left) accepts the donation of toiletries from Scotiabank Manager Melissa Holliday.
NEW STARTS AND GOULD’S STRENGTHEN PARTNERSHIP
New Starts and Gould’s strengthen partnership
BY LINDSAY BRISCOE -The Northern Sun News
A partnership struck between New Starts for Women and Gould’s BrandSource Home Furnishings in Dryden close to a decade ago is ramping up this year.
Rhonda Ward, Gould’s Sales and Service Associate, says it’s mainly because the company is getting busier with deliveries to the Red Lake/Ear Falls area. So even though Gould’s has been offering the used furniture and appliance pick-up service locally for a while, Ward says she and Kathy Campbell, the Director of New Starts, decided they’d like to encourage more residents to take advantage of it.
The service means that if a purchase for new furniture or appliances is made with Gould’s, and the company delivers the items to the area, the delivery people will take away the same number of used items and deliver them to the women’s shelter free of charge.
“I did remind the delivery guys to go over the products and if there’s something in good use…we’re going to really start to push it for this year and upcoming years,” says Ward. “In a lot of cases, the items we remove are still in good condition. The customers are just upgrading for whatever reason.”
Campbell says the partnership works well for the women’s shelter too. The provincial funding that Ontario women used to be eligible for to assist them with purchasing new furnishings as they transitioned from the shelter to their own homes, was cut in January 2013.Since then, New Starts has been looking for more and more donations and has built a shed outside the building for drop-off.
Campbell adds the furniture and appliances are so important for the women and their families.
“These women have children and they’re trying to set up a family situation…They get into some of the bigger houses, especially ones in Ear Falls, and it’s so open and because there’s only a little bit of furniture – enough to get by – it echoes. It’s eerie almost. It has an institutional feeling – an emptiness,” she says.
“They’re trying to be comfortable. They’re trying to make their children comfortable. They want their children to bring friends home from school and if there’s no place to sit or play…there’s all of those things that come into play. It’s just giving women that sense of respect and dignity – that dignity that comes along with having your own home.”
Ward says anyone wishing to take advantage of this service should let a Gould’s employee know once they’ve made a purchase there – before the delivery people arrive.
All used items should be in good working order and condition. A refrigerator, for example, that no longer works ends up costing the shelter money to remove.


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Stem cells from cow shoulder muscle were cultured into strips of meat that grew, over the course of two years, into the first cultured beef patty. Scientists hope test-tube burgers will one day be sold to the masses to combat the coming food crisis and climate change.
A food panel in London tasted the patty on Monday.
"It's literally like cooking any other burger I've experienced before, a nice and pleasant aroma but very subtle at this stage," said Chef Richard McGeown while frying the patty in copious amounts of butter, breadcrumbs, egg powder and seasoning.
The burger itself was also colored with beetroot and saffron to darken the naturally light, pasty stem cell strands.
“I know there is no fat in it so I didn't really know how juicy it would be, but there is quite some intense taste…,” said Hanni Ruetzler, a food researcher from the Future Food Studio, who tasted the patty.
Another taster, Josh Schonwald, a Chicago-based author of a book on the future of food, said "the bite feels like a conventional hamburger" but said the meat tasted "like an animal-protein cake," reported The New York Times.
Dr. Post estimated it would take 10 to 20 years to make cultured meat commercially viable. A major challenge will be making it cost efficient; if production is scaled up, cultured beef would currently run more than $30 a pound.
The project to produce this first cultured burger cost $325,000 over two years, including extra tissue for testing.
Cultured meat, in comparison to conventional meat, would have a number of environmental benefits like reduction of water, land and energy use, and fewer emissions of methane and other greenhouse gases. It would also alleviate animal-welfare issues related to conventional livestock production. And, depending on how the stem cells were obtained, animals may not even have to be slaughtered to produce the cultured meat.
Still, the best method to truly reduce our carbon footprint is to go completely meatless. Dr. Post said: “Vegetarians should remain vegetarian. That’s even better for the environment.”
One proponent of the cultured burger, Dr Iain Brassington, a bioethicist, at the University of Manchester, said it will be easy to knock down the "frankenfoods” argument against it—“the idea that this process interferes with nature."
“All food production interferes with nature—wheat, for example, is the result of thousands of years of selective breeding, and is grown on land that has been systematically altered for the purpose.
“If you don't want food that's the product of interference with nature, you're probably going to be hungry.”


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SALT LAKE CITY — The legal battle over “dirty sodas” in Utah has picked back up.
In a court filing obtained by FOX 13, Swig Holdings LLC attorney Mark Bettilyon announced settlement talks with Sodalicious had not been successful, and the company was planning to file an amended lawsuit. The court filing asked the federal judge overseeing the case to grant the request.
“Unfortunately, the parties were unable to reach a resolution and are now on track to file an amended scheduling order and complete the balance of discovery,” Bettilyon wrote.
He wrote that in an August deposition, Sodalicious’ representative said it had “rebranded” its stores with new menu boards.
“During this deposition, Swig also learned that Sodalicious stopped using the term ‘dirty’ to describe its flavored sodas in May 2016, after the amendment deadline. But Sodalicious also admitted that it continues to use the term ‘extra dirty’ and that its use of ‘extra dirty’ has resulted in brand recognition for Sodalicious,” Bettilyon said in the court filing.
“Sodalicious also admitted that its use of ‘extra dirty’ helps its overall brand ‘because it worked with the names of our drinks [b]ecause it’s fun to say, Your Mom Extra Dirty or a Second Wife Extra Dirty or a Boy Scout Extra Dirty.’ Sodalicious also acknowledged for the first time that its use of ‘extra dirty’ to describe some of its drinks is meant to be ‘entertainment’ and ‘part of the [Sodalicious] experience.'”
Swig filed a trademark infringement lawsuit against Sodalicious last year, accusing it of improperly using the term “dirty” to describe the flavored sodas that have become very popular in Utah. It also accused Sodalicious of copying its look and business model.
Sodalicious has counter-sued, pointing out that other soda shops in Utah use the word “dirty.”


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Val-Pak Direct Marketing Systems Inc., Largo, FL, takes its coupon system into a new arena with next week's launch of Val-Pak Coupons On-Line.
Working with 225 franchisees and more than 50 percent of its 130,000 small businesses and advertisers, Val-Pak Coupons On-Line (www.valpak.com) is making 32,000 to 35,000 coupons available to consumers through their computers. Franchises such as Subway, Jiffy Lube, McDonald's and Holiday Inn are participating in the venture as well as online merchants such as ArtSelect. The service is available 24 hours a day, seven days a week.
Consumers who visit Val-Pak's Web site are asked to enter either their home ZIP code, work ZIP code or the name of the city or state they're in. After that, a list of nine categories will be displayed — Auto/Transportation, Entertainment, Restaurants, General Services, Retail, Household Services, Professional Services, Education and Communications — and consumers are asked to click on the category they are interested in. Once a category is selected, all of the coupons offered by participating companies in the designated location will come up.
“Within two clicks, they are already being presented with coupon offers,” said Todd Leiser, vice president of Internet technology at Cox Target Media, the parent company of Val-Pak.
Consumers then click on the coupons they want and either print them out or add them to their personalized envelopes while they search for others. Personalized envelopes can hold “as many coupons as they want to put in,” he said. Once their searches are completed, consumers can print the coupons one at a time or three to a page. Leiser said participating retailers aren't worried about people photocopying coupons.
“They weighed the risk of people making coupon copies against the value, the opportunity and the business that the use of those coupons can bring in and felt it was worth the risk,” he said.
Searches can be conducted by key words using a business name or a specific coupon offer. They also can be done by just using specific categories.
“By providing consumers with coupons online, it turns the Web into a shopper's personal coupon file catalog,” Leiser said. “Whether they are looking for a pizza, an oil change or a new pair of running shoes, consumers will now be able to instantly find and print out the coupons they need.”
“This is a logical step for our business,” said Joe Bourdow, president of Val-Pak direct marketing systems. “We anticipate our database of more than 30,000 coupons will grow significantly as more retailers, service providers and consumers realize the benefit of having coupons available on the Web.”
The site provides other services as well. Frequent visitors who register can have coupon offers from selected categories of their choice e-mailed to them. To register, consumers need to provide their home and business ZIP codes as well as their e-mail addresses. Registered consumers also can benefit from the Quick Search feature. After they register, the home page will be customized on subsequent visits and will allow them to view coupon offers within their home or work ZIP codes with just one click. The Val-Pak Travel-Pak custom search lets frequent travelers search for values like lodging, restaurants or retailers in the cities and regions they will visit.
Names acquired from those visiting the Web site won't be added to the direct mailing database. Leiser said Val-Pak plans to keep the names of the Web-site visitors separate from its direct mail database of names. While he expects that many visitors will be recipients of the direct mail pieces, he said the unique names will remain separate.
According to Val-Pak, industry studies show that Americans clipped more than 4.9 billion paper coupons last year, cashing them in for more than $3 billion in savings. It also found that 58 million Americans used the Internet last year and that close to 20 million visited an online retail site.
Val-Pak has been advertising the site by printing the Web address on the outside of its direct mail envelopes along with an information piece inside the envelope. It also has bought tens of millions of banner ads, network and cable TV commercial spots and ads in magazines such as People and Woman's Day. Val-Pak mails coupons to more than 53 million homes and businesses a year and has been mailing coupons for 30 years. Leiser said the online service won't affect the number of mailings Val-Pak does throughout the year.


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The US Federal Trade Commission (FTC) has said that it will seek to block the proposed merger between daily fantasy sports (DFS) companies DraftKings and FanDuel.
According to reports in the US, the FTC has raised concerns over how the deal could impact competition in the US DFS sector, forecasting that the combined company would control over 90% of the domestic market.
The FTC, along with attorneys general in California and the District of Columbia, will file for a complaint in federal district court and seek a preliminary injunction to block the deal.
“This merger would deprive customers of the substantial benefits of direct competition between DraftKings and FanDuel,” FTC Bureau of Competition acting director, Tad Lipsky, said, according to CNBC.
The merger has been mooted for some time and the two DFS companies formally announced a deal in November of last year.
Pending Fantasy Sports Merger Begs Question Now that the two largest online daily fantasy sports sites are back in the news—nearing a deal to merge into a company drawing $100 million in revenue, according to the Wall Street Journal—it’s a good time to answer a nasty, nagging question: Are these sites legal?
Because the […]
DraftKings FanDuel Merger in Doubt In mid-November 2016 the two largest daily fantasy football companies, DraftKings & FanDuel, announced a merger of equals. The thinking was that instead of pouring hundreds of millions of dollars into continuing to fight each other, they could fight legal and political battles […]
Fantasy Sports Pay $12 Million for “Deceptive Ads” in New York The country’s two leading online daily fantasy sports companies are paying out big — in fines to the state. FanDuel and DraftKings on Tuesday agreed to pay $6 million each to settle lawsuits from Attorney General Eric Schneiderman alleging they engaged in false and deceptive advertising […]


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For months, seller stocks have been running about 25% thinner than normal, a hangover result from two months of pandemic-linked manufacturing unit closures previous spring. The shortfall is demanding a lot of prospective buyers to order their vehicles and wait around a couple months, operating counter to the American car or truck shopper’s drive for quick gratification, and dealers’ impulse to send out the shopper household in a new car or truck that day.
That adjust may possibly outlast the pandemic as sector executives locate that stocking less vehicles, amid superior demand from customers, has lifted gains for car providers and sellers alike. Now both of those are talking about carrying less automobiles on the dealership lot forever, in what would mark a monumental change in the way cars and trucks are bought in the U.S.
For a long time, American car or truck dealerships have stored countless rows of motor vehicles outside the house their outlets in enough colors and variants for prospective buyers to find what they want, when they want it. Cutting down that mass of sheet steel would consequence in far more consumers preordering their vehicles weeks in advance, a apply common in Europe and elsewhere. The adjust could have implications for dealer-owned real estate and how automobile corporations operate their factories.
The positive aspects of leaner dealership tons have been an unforeseen byproduct of the pandemic. Auto makers have been straining to increase output after the spring shutdowns, a job manufactured hard by an sudden surge in desire for new cars. The final result has been a seller’s current market, with vehicle firms capable to hold the line on discounts, driving rates to report highs.
And, mainly because of the inventory crunch, car organizations have been providing precedence to their most well known products and aspect mixtures, which has diminished complexity and slice supply-chain expenses, the providers say.
Meanwhile, dealers are preserving dollars by holding much less stock, and vehicles are promoting more quickly, at bigger typical prices. The normal new motor vehicle spent about 56 times on a seller ton in Oct, down 27% from the exact same thirty day period previous calendar year, in accordance to automobile-browsing web page Edmunds.com.
A shift to on-line purchasing has been a aspect, far too. With fewer future prospective buyers checking out showrooms throughout the pandemic, sellers say they never need to have as several automobiles on the good deal for test drives. There have been almost a million much less cars and trucks at all U.S. sellers at the conclusion of Oct, or 25% less in contrast with a calendar year earlier, according to investigate company Motor Intelligence.
“We’re spending a whole lot of time hoping to comprehend this and declaring ‘Hey, is there a better distribution design?’ ” Basic Motors Co. U.S. profits chief Steve Hill claimed. “You hardly ever want to enable a fantastic crisis go to waste.”
GM’s dealers have been performing with just 1-third of their normal degree of stock in pickup vehicles, the major moneymaker for the firm and dealers. Even so, GM has received industry share in that beneficial category lately, a sign that sellers and buyers are adapting, he stated.
Ga dealer Mike Bowsher, who owns 4 GM shops across the Southeast, claimed his gain for every automobile is up sharply due to the fact of reduced discounting. And he is investing less cash on stock for the reason that about 50 % his shoppers have been prepurchasing vehicles in advance of they hit his great deal. In usual periods, practically all his shoppers buy straight from his on-hand variety.
Mr. Bowsher explained he has implored GM’s gross sales main to continue to run lean.
“I advised Steve, ‘You men just had a monster quarter. The prospects are pleased, dealers are producing cash,’ ” Mr. Bowsher claimed. “We’ve bought to continue to keep this educate rolling.”
GM, Ford Motor Co. and Fiat Chrysler Vehicles NV each and every credited strong pricing and lower expenditures for their sound 3rd-quarter benefits, with financial gain margins in North America soaring to file or near-document degrees.
“I do not believe our dealers want to go again to historic inventory stages,” Fiat Chrysler Main Executive Mike Manley informed buyers previous month. “What I believe we see now is somewhat closer to the new ordinary of inventory concentrations.”
Automobile-field analysts, sellers and executives likened the new strategy to supplier inventories in the U.S. to that of Europe, the place clients have for a long time ordered from the factory somewhat than buying from a pool of vehicles at a dealership.
Still, this kind of a change for American individuals could be a harder promote in the extensive run, sellers say. Car makers for years have tried out to slim dealer shares and simplify their design choices, but have historically unsuccessful as models contend for buyers.
“I can only presume that the supply will creep back again up,” mentioned David Hult, CEO of Asbury Automotive Team, a publicly traded dealership chain based mostly in Ga. “Brand loyalty is not what it used to be, and when anyone else has a products accessible that you really do not, you could truly drop profits.”
Mr. Hill claimed he thinks GM will continue on to operate on reduce dealer stocks extensive-phrase, but he does not imagine that indicates significantly additional buyers will be preordering automobiles. He said GM has began making use of far more-precise analytics to wonderful-tune dealers’ stock so that customers can obtain what they want on the whole lot or on the internet.
Andrew Coles scoured dealerships in his location for a new Chevrolet Tahoe not long ago but couldn’t find the correct model he preferred. Eventually, a seller found Mr. Cole’s chosen model en route from the factory—he just experienced to wait around 6 weeks for it to arrive.
The 34-yr-old Larchmont, N.Y., resident reported he grew impatient but in the finish was happy to get the vehicle he wanted at the ideal price.
“It’s not like we desired it that day,” he mentioned.
This tale has been published from a wire agency feed without having modifications to the textual content.


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The cars may be the center attraction, but you don’t have to be a car lover to have a good time at the Under the Stars Car Show.
“It’s a family oriented show,” said Richard Wall, of Sellersville, a member of the Good Time Motorvators car club, which, with the Perkasie Olde Towne Association, puts on the annual show.
“You get to talk,” Wall said. “You meet new people.”
And, of course, there’s also the food and the music as people stroll through downtown Perkasie.
“This is a great family night out,” Cathy Weierbach, Perkasie Olde Towne Association president and chairwoman of the event, is quoted in information about the show. “And it’s an opportunity for people who may not be familiar with Perkasie to see what the borough has to offer.”
This year’s Under the Stars, the 14th annual one, will be 5 to 9:30 p.m. Saturday, Aug. 18.
“We’re looking forward to another great show,” Weierbach said. “The variety of cars in the show gets bigger each year. Owners call us early to make sure they can get a spot.”
“We usually get a pretty big crowd of spectators,” Wall said. Estimates of the number of attendees generally are in the 5,000 to 6,000 range, he said.
“We usually get 350 to almost 400 cars,” he said. “We’re trying to hit that 400 mark, but we just haven’t gotten there yet.”
Antique (pre-1949), classic (1950 to 1995) and custom cars and trucks are included in the show. There are 18 trophies awarded. Pre-registration is closed, but day of show registration will be open 3:30 to 5 p.m. Aug. 18 at Seventh and Spruce streets in Perkasie. The registration fee will be $15.
“The car enthusiasts have a good night out,” Wall said.
The vehicle owners are at the show with the cars, giving other spectators or car owners a chance to discuss and learn more about the vehicles, he said.
Major sponsors this year include A&T Chevrolet, QNB, Gahman’s Business Supply and First Savings Bank.
Music for the show will be by Hodge Podge. Several downtown shops will also be open with car show specials.
Under the Stars is the Motorvators largest car show of the year, Wall said. Other shows by the group include the Cruise Night at Perkasie Fire Department’s annual fire carnival.
The Good Time Motorvators, which raises money for charitable purposes, also does car shows at the Dairy Queen in Quakertown.
“They’re always the second Sunday of the month, April through October,” Wall said.
The rain date for Under the Stars is 1 to 6 p.m. Sunday, Aug. 19. In that case, registration would be 11 a.m. until 1 p.m.


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King Machine of Charlotte to build $3M facility near SC Continental Tire plant
A Charlotte-based tire-mold manufacturer will open its latest branch facility near the new Continental Tire plant in Sumter, S.C.
King Machine plans a $3 million mold and service facility there that will create 20 jobs, S.C. Gov. Nikki Haley announced this morning in a news release.
Michael Wells, King Machine president, says the new branch will first move into an existing building in Sumter. Eventually, the company will build a 40,000-square-foot structure to house the new operation.
As tire makers come out with new types of tires, King Machine benefits, Wells says.
“Our business is predominantly dependent on new tire design,” he says during a brief telephone interview this morning.
The company makes the molds in which new tires are formed at the factory. When the tread design is changed, the tire maker buys new molds from King Machine and other companies.
As another business segment, King Machine repairs tire molds and services tire-making equipment.
The Sumter plant will be King Machine’s fifth location. King Machine employs about 100 in its headquarters and primary location on Westinghouse Boulevard in Charlotte.
The company employs 180 and has other locations in Fayetteville, Wilson and Akron, Ohio.
Ken Elkins covers manufacturing, international business and economic development for the Charlotte Business Journal.
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Starbucks reportedly abandons Vatican site due to drop in tourists thanks to covid-19.
Starbucks, the American coffee chain, is set to open an outlet in the heart of Rome's historic centre in the coming months, reports Dire news agency.
The surprise move to Piazza S. Silvestro, just off the capital's main thoroughfare Via del Corso, comes as Starbucks reportedly abandons its plan to open its first cafè at a former bookshop near Vatican City.
The Starbucks outlet is due to open in Piazza S. Silvestro - in Palazzo Marignoli - which is already undergoing renovation works for the flagship Apple store, reports Dire.
The Piazza S. Silvestro site was reportedly supposed to be the second Starbucks cafè in Rome - after the Vatican - but it now looks like it will be the inaugural outlet for the US multinational.
Photo credit: Grand Warszawski / Shutterstock.com.
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Starbucks to open in centre of Rome
Piazza di S. Silvestro, 00187 Roma RM, Italy
EVENTS THIS WEEKview calendar


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Tuesday, 2 February 2016
Smart phone apps to guide tourists in Malacca
MALACCA: The state government has introduced a smart phone application known as “Destination Melaka” to guide tourists visiting the state.
Malacca Chief Minister Datuk Seri Idris Harun said the application provided various information including tourism destinations, interesting food outlets and list of hotels with the aid of the Global Positioning System (GPS).
He said the application was developed by Malacca Telekom Malaysia Bhd (TM) and the Malacca Tourism Promotion Division to promote more widely tourism destinations in the state, especially to foreign tourists.
“All data related to tourism programme, activity and destination in the state will be upgraded by Tourism Malacca from time to time. We received information the application can be downloaded for free via Google Apps.
“Very encouraging responses were received from Android smart phone users especially in Brazil, London and the United States,” he said ata media conference after chairing a state executive council meeting here recently.
TM Malacca general manager Datuk Rozlan Mohamed said the application which was expected to be able to be downloaded by iOS smart phones in February would also provide emergency calls to the police, ambulance, Fire and Rescue Department and the embassies if the tourists needed help.
“We target the application to be downloaded to 50,000 Android and iOS users in the first six months of this year. The features of the application will be improved from time to time,” he said.
The Minister of Tourism and Culture Malaysia Dato’ Seri Mohamed Nazri Abdul Aziz is leading a delegation to promote the country’s tourism offerings and tour packages at the 36th World Travel Market (WTM) London. The four-day business-to-business exhibition for the global travel and tourism industry begins today at ExCel, Docklands.
The Malaysian delegation is comprised of 84 members from 44 organisations, including travel agents, hotels, and airlines, as well as state tourism agencies, namely Tourism Promotional Division Melaka. Tourism Perak, Pesona Terengganu, Penang Global Tourism, Sabah Tourism Board, Sarawak Tourism Board, Langkawi Development Authority (LADA) and Putrajaya Cooperation. The Malaysian delegation will take advantage of this excellent platform to reach out to industry players, media, and travellers here.
WTM 2015 marks the 32nd year of Tourism Malaysia’s participation in the prestigious event since it began in 1983, which reflects the country’s commitment in attracting more travellers from London and Europe to its shores. The event, deemed the most important travel fair in the European market, is the main platform for Malaysia to promote its tourism offerings and introduce its new and upcoming tourist attractions to British and European travellers.
Through its participation in the event, Tourism Malaysia aims to raise and maintain Malaysia’s image as a top tourism destination in the region, besides strengthening its promotional efforts in UK, particularly London. It will also meet and forge closer relationship with industry players from UK and Europe to get their support to sell packages to Malaysia.
Earlier today, Dato’ Seri Mohamed Nazri launched a Taxi Wrap Campaign as part of Tourism Malaysia’s promotional efforts in conjunction with WTM 2015. Throughout November, a total of 80 taxis in London are wrapped with visuals of the country’s attractions, such as culture, nature, and beach.
Besides that, the Tourism Culture Minister is scheduled to attend the “UNWTO WTM Minister’s Summit 2015” on 3 November to share Malaysia’s tourism experience through a panel discussion on “Destination Branding: New Challenges in a Changing Market”.
In the evening, Tourism Malaysia will be hosting a cocktail reception at Malaysia Pavilion to thank the industry players in UK and Europe for their support, as well as to network and forge a closer relationship with them.
To ensure the continuous growth of arrivals from UK and Europe, the participation of Tourism Malaysia in this event will strengthen the relationship and increase cooperation with British and European industry players and media to ensure a high awareness and market presence of Malaysia.
A total of 445,789 British tourists visited Malaysia in 2014 compared to 413,472 tourists in 2013, signifying a 7.8% increase.
London, the city of the Tower Bridge (with a new glass walkway), drinks as dinner, royal babies and the world’s greatest tabloid headline writers, is forecast to be the most popular travel destination of 2015. Can’t say we’re surprised. MasterCard has just released its annual travel study, the Global Destination Cities Index, ranking 132 destination cities around the world in terms of total international overnight visitor arrivals and cross-border spending.
London came first in the study for the second year in a row. Bangkok lost its first place ranking in 2013, largely due to political unrest. But the report suggests that the Thai capital is showing signs of recovery and closing the gap with London. London will welcome 18.82 million overnight visitors in 2015 whereas Bangkok will receive 18.24 million. Not only will London have the most travelers, it’s estimated to see the most visitor spending, at $20.23 billion in 2015.
New York came second in visitor spending at $17.37 billion. Paris followed with $16.61 billion. London and Bangkok have taken the top two spots in the MasterCard Global Destination Cities Index for the last five years. “This is an impressive achievement and it is similar qualities that have kept them both at the top,” said Eric Schneider, group head of MasterCard Advisors, Asia-Pacific. Despite their size, they are both relatively easy to navigate for a tourist, and even in Bangkok, English is often all you need to get around.
“Food and culture are also available in abundance. Finally, it’s the unique and seemingly limitless heritage, from temples to palaces in Bangkok or churches and castles in London, that keep enticing tourists to make the trip.”
Asia dominates, but lacks diversity. The ranking is heavily tilted toward Asia. Of the top 10 destinations, five are in Asia: Bangkok (no. 2), Singapore (no. 7), Kuala Lumpur (no. 8), Seoul (no. 9) and Hong Kong (no.10).
“Against a background of generally weak global economic growth and anemic pace of exports, a vibrant tourism sector is providing a powerful boost to income and job creation in Asia-Pacific,” said Dr. Yuwa Hedrick-Wong, chief economist and chair of the Academic Advisory Council at the MasterCard Center.
The report points out a lack of diversity in the source of tourism arrivals for some Asian cities. The top five visitor groups coming to Bangkok, Singapore and Kuala Lumpur, Malaysia, for example, are all from the Asia-Pacific region.
Istanbul has the most diverse visitors, with half of its inbound tourists coming from 33 different countries. Diversifying sources of visitors means a higher resilience against long term economic instability, according to the report.
Among the 10 fastest growing cities in the world (based on data gathered over the last six years), seven are in Asia. Sri Lanka’s capital city of Colombo is first in growth with a staggering 21% surge, with Chengdu, the capital of China’s Sichuan province, following in second.
Abu Dhabi, capital of the United Arab Emirates, ranked third in terms of growth; Riyadh, Saudi Arabia, placed fifth.
Lima, Peru, is the wold’s ninth-fastest growing city, and the fastest growing city in South America.
Houston is the fastest growing city in North America since 2009 and is the only city in the United States to register double-digit growth over that period.
Top 10 destination cities for 2015 (by projected visitor arrivals)
1. London 18.82 million
2. Bangkok 18.24 million
3. Paris 16.06 million
4. Dubai, UAE 14.26 million
5. Istanbul 12.56 million
6. New York 12.27 million
7. Singapore 11.88 million 8. Kuala Lumpur, Malaysia 11.12 million
9. Seoul 10.35 million
10. Hong Kong 8.66 million
Top 10 cities for international overnight visitor spend for 2015
1 London $20.23 billion
2 New York $17.37 billion
3 Paris $16.61 billion
4 Seoul $15.24 billion
5 Singapore $14.65 billion
6 Barcelona, Spain $13.86 billion
7 Bangkok $12.36 billion 8 Kuala Lumpur, Malaysia $12.02 billion
9 Dubai, UAE $11.68 billion
10 Istanbul $9.37 billion
Fastest growing tourist cities
1. Colombo, Sri Lanka 21.1%
2. Chengdu, China 20.7%
3. Abu Dhabi, UAE 20.4%
4. Osaka, Japan 19.8%
5. Riyadh, Saudi Arabia 18.0%
6. Xi An, China 16.2%
7. Taipei, Taiwan 14.9%
8. Tokyo 14.6%
9. Lima, Peru 13.9%
10. Ho Chi Minh City, Vietnam 12.9%


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INDEPENDENT RETAILER magazine is now the official news outlet for Wholesale Central visitors.
Each monthly issue is packed with new product ideas, supplier profiles, retailing news, and
business strategies to help you succeed.
See new articles daily online at IndependentRetailer.com.
Apr 1, 2007
by Christopher Heine
As an example, a few select retailers were offered $20 off for every $50 purchase made with Google Checkout. Once the $20 off a $50 purchase promotion ended, Google introduced a new one offering $10 off to consumers signing up for Checkout for the first time and making a purchase of at least $10.
Google's transaction processing feature was introduced last summer, with the goal of driving ecommerce sales across industries by addressing two of the reasons why online sales are not growing at an even faster pace: shopping cart abandonment and consumers' fear of sharing personal information online.
"Ecommerce is still growing and we are trying to accelerate that," said Gavin Chan, products marketing manager at Google Checkout in Mountain View, CA. Since Google Checkout is available to any consumer based ecommerce site, Google is positioning the service as one that consumers have to register for only once. This is supposed to make it more convenient and faster than a site's typical checkout process and as a result, could cut down on shopping cart abandonment.
In addition, the fact that with Google Checkout a consumer's information is stored with only one company, it may alleviate the concern that some people feel about sharing their personal information online. So far, the company has signed up thousands of merchants for Google Checkout, including Linens & Things, Starbucks, Zales and Toys R Us.
Later this year, Google plans to introduce Checkout internationally.
Viral Equals Sales For Kettle Chips
In 2004, the executives for Kettle Foods had just given their marketing department what might be called a yellow light in doing a multifaceted web campaign. The potato chip maker had not done much emarketing outside having a website, and upper management was not sold that the medium could translate into retail sales.
"The brand has been around for a quarter of a century, but we had surprisingly low awareness," said Michelle Peterman, VP of Marketing for Kettle Foods in Salem, OR. "Because our company has been so focused on distribution, resources to support awareness building have been fairly constrained. So we had to be very creative."
In a rather unique turn of events, Peterman went looking through bags of fan mail and found letters holding fun, product inspired things like haikus, art projects and amusing or touching stories. While scouring the letters, Peterman would every now and again see a suggestion for an interesting new chip flavor, until one day she had a bit of an epiphany. Why not an online contest letting fans pick a new Kettle Chips flavor? Add in the idea of pushing it with serious PR support towards traditional newspapers and magazines and online media (blogs), and Peterman believed that she had a solid plan.
One of Peterman's keys to encouraging viewer participation/viral was the ability for customers to buy a party pack and taste all five chip flavors in the contest. In other words, Kettle Foods was going to have to launch an ecommerce initiative. But the company learned to see this as an advantage; at least there would be tangible results to go along with the contest entries and traffic.
Since then, the ecommerce aspect of the campaign gave Kettle Foods some hard evidence, rather than just site traffic or clicks, that the viral campaign was spreading. The $19.95 party packs sold out of the original 500 units, and they eventually sold more than 1,500 during the seven month 2006 campaign. One of the choices in the campaign, called Spicy Thai, has become one of Kettle Foods' top five chips products. "They really sell. They are not just little cutesy one off products," Peterman said.
Cash Based ePayment
Consumers without access to credit/debit cards are discovering more and more legitimate ways of making purchases online. So, add another intriguing, "Credit/Debit Card Not Present," service to your list of payment solution providers.
Retail Expansion Network, Oakland, CA, recently debuted PaidByCash, a nationwide system that lets shoppers pay for online purchases with a temporary MasterCard debit card, acquired for cash at any of 60,000 participating stores, including Safeway supermarkets, Circle K convenience stores and Walgreen's drug stores. To use the system, Internet shoppers enter their ZIP code during the online checkout process, then receive a payment code on the same site from PaidByCash, while saving the transaction in their online shopping cart. They then take that code to a participating store in their area and pay the store for the value of the online purchase, plus a fee of $4.95 for the virtual debit card. Next step is to return to their saved online shopping cart and enter the debit card number to complete the transaction.
Shoppers can purchase a debit card valued at up to $350, and use any remaining value for additional purchases. The debit cards, issued by the First Bank of Delaware, have expiration dates within a two year period. Companies in this article:
1600 Amphitheatre Parkway
Mountain View, CA 94043
P.O. Box 664
Salem, OR 97308-0664
Retail Expansion Network, Inc.
1212 Broadway, 16th floor
Oakland, CA 94612
Topic: Wholesale News
Entire contents ©2021, Sumner Communications, Inc. (203) 748-2050. All rights reserved. No part of this service may be reproduced in any form without the express written permission of Sumner Communications, Inc. except that an individual may download and/or forward articles via e-mail to a reasonable number of recipients for personal, non-commercial purposes.


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“disability aid” – Google News • Fri, 12 Apr 2019 01:38:34 GMT
How Did The Feds Spend Your Taxes? http://hamodia.comIt’s nice to have more money in your pocket. And thanks to the 2017 tax cuts, the typical American is now paying less in taxes. But that’s not to…
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Hästens Store Saanen supports World Sleep Day on 15 March.
45% of the world’s population are threatened by the burden of sleep problems. It is estimated that sleep deprivation costs the US over $400 billion a year, with the UK losing $50 billion or Germany $60 billion. 15 March is the 12th annual World Sleep Day, an internationally recognised awareness event bringing researchers, health professionals and patients together. 2019 will incorporate the slogan, “Healthy Sleep, Healthy Aging”, intended to emphasize the importance of sleep in overall health at any age. This focus is purposefully broad in meaning, surrounding the message that quality of life can be improved with healthy sleep. Conversely, when sleep fails, health declines, decreasing quality of life. Sound sleep is a treasured function and one of the core pillars of health.
“Hästens has been working on sound sleep for more than 160 years now,” explains Stefan Ryter of Hästens store Saanen. “The bed you choose decides the quality of your life. That’s why we place such high demands on exact craftsmanship and natural materials. Whoever belongs to the threatened 45% should not hesitate to visit us.”
Hästens Store, Dorfstrasse 66, Saanen.


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Universal Partnership & Licensing’s franchise-based business model is driving big returns for the company, both in brand loyalty and revenue.
Warner Bros. Consumer Products has partnered with a wide array of licensees to develop fan-favorite gifts prime for holiday wish lists.
Twentieth Century Fox Consumer Products has lined up a multi-category licensing program for The Book Of Life, which hit theaters Friday.
Jamba Juice has entered into an exclusive multi-year licensing agreement with Hamilton Beach Brands to create a line of branded blenders and juicing products.
The Sun Products Corporation has tapped HIA Brands to develop a range of branded home textiles inspired by the Snuggle fabric softener brand.
The average person celebrating Christmas, Kwanza and/or Hanukah this year will spend $804.42, up nearly 5 percent over last year’s actual $767.27.
Disney Consumer Products continues to introduce new “better for you” foods featuring some of its most popular characters worldwide.
Bleacher Creatures has launched its 2014 NHL player plush collection, with Sidney Crosby of the Pittsburgh Penguins and Alex Ovechkin of the Washington Capitals.
Spanish pastry company Panrico has teamed up with Cartoon Network's “Sendokai Champions” to launch a promotional campaign for Bollycao, Panrico’s chocolate brand.
Withit Licensing has renewed their contract with Jumbo, the biggest toy store chain in Greece, for a product range featuring artwork from the lifestyle brand Joey & Joy.
Viz Media Europe has appointed three new directors.
The U.K.’s largest nature conservation charity RSPB has teamed up with Pants On Fire Games to create the original board game Wing It.
Ford has tapped Mark Feldstein & Associates as one of the 50 companies to create product for Mustang’s 50th anniversary in 2014.
Macy’s is planning an exclusive women’s fashion brand inspired by the Latina actress, recording artist and author Thalía.
An animated Popeye commercial for Mama Lucchetti pasta has won an Effie Award as the most effective commercial in its category.
Fifth & Pacific Companies has sold Lucky Brand Jeans to an affiliate of Leonard Green & Partners, finalizing its plans to focus on the Kate Spade brand.
Corgi is planning to add to its collection of Bentley die-cast model cars with two new designs that will launch in the second half of 2014.
Performance Brands has appointed Brandgenuity as North American sub-agent for its first new client, the app “Clumsy Ninja.”
The Wildflower Group and Hermes-OTTO International have teamed up to expand the home furnishings brand Bombay.
Zodiak Kids and its master toy partner Vivid Imaginations have tapped Spanish toy company Famosa to bring Tickety Toc toys to Iberia.
Frogmind has opened an e-commerce site for its game app “Badland,” as it launches the game into licensing with the help of agent 5th Wave Brands.
©2014 ADVANSTAR COMMUNICATIONS INC. All rights reserved.


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Wednesday, February 6, 2008
Is the U.S. already in a recession? Sure looks like it.
Almost daily news is released showing the U.S. economy is slowing. The consensus seems to the we are already in a recession. What are the implications for the War in Iraq? U.S. foreign policy? Unemployment and the economic health of the U.S. moving forward? What would be the implications for you (and the rest of the world) if you were abroad as a foreign correspondent and the world's largest economy heads into a deep downturn? How would you report this story? - MT
(PAGE ONE - WSJ, 2-6-08) Recession worries surged, slamming financial markets, amid signs that service businesses -- from hotels and retailers to banks -- may be stumbling in both the U.S. and Europe.In the U.S., a key barometer of the strength of the service sector dropped to its lowest level since October 2001, and suggested those businesses are now contracting. In Europe, a similar indicator fell to a four-year low.The readings fanned fears on Wall Street that the U.S. is about to tip into recession, if it hasn't already done so, particularly startling analysts who had viewed services as the nation's last bastion of economic growth.http://online.wsj.com/article/SB120221986525544121.html?mod=hps_us_pageone
Stocks plummeted on Wall Street on Tuesday after a business survey provided another strong signal that the United States might be in the early stages of a recession. The Dow Jones industrial average fell 370 points as the market experienced its worst day in nearly a year. http://www.nytimes.com/2008/02/06/business/06stox-web.html?ex=1360040400&en=9470859e1128992b&ei=5124&partner=permalink&exprod=permalink
NEW YORK (AP) -- Lingering hopes that the U.S. economy might avert a recession withered Tuesday after the nation's service sector -- its banks, travel companies, contractors and stores, among others -- shrank for the first time in five years.http://www.nytimes.com/aponline/business/AP-Economy.html?scp=4&sq=Recession&st=nyt
Alfred Hitchcock's "Foreign Correspondent"