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More info on VITRINIANDO / Fashion Outlets of Chicago
VITRINIANDO / Fashion Outlets of Chicago - BingNews
The Parking Garage of the Future
Entrepreneurs envision a “mobility hub” that can save you a spot, help with dinner reservations and offer a place to plug in an E.V. Yes, apps are involved.
A pandemic clothing purge is on as normal life resumes in US
Alina Clark is about as tired of her pandemic wardrobe as her comfort clothes are stretched and torn. “I have four sets of jeans, seven shirts and five sweaters that I wear every ...
Fitch Downgrades COMM 2012-CCRE4
Fitch Ratings has downgraded five classes of Deutsche Bank Securities, Inc.'s COMM 2012-CCRE4 commercial mortgage pa ...
‘Summer of Soul’ documentary pulsates with the creativity, energy and edge of Harlem life in 1969 | COMMENTARY
Through interviews with artists and attendees, keen historical analysis and archival film beyond that of the festival, director Ahmir "Questlove" Thompson has created a musically-charged social ...
Gap to close all UK, Ireland stores; shifts business online
In another blow to Britain’s retail sector, American clothing company Gap said that it will close all of its stores in the U.K. by the end of the year as it moves its business ...
Hilton’s big bet on Las Vegas: Our opening-week stay at the new 3,500-room Resorts World
It’s been 11 years since a brand-new resort opened on the Las Vegas strip. That changed on June 24 with the opening of Resorts World, a 3,500-room hotel complex, with three Hilton hotels all under one ...
Burberry chief executive Gobbetti to quit to return to Italy
Luxury fashion brand Burberry is on the lookout for a new boss after revealing Monday that chief executive Marco Gobbetti is quitting his job at the end of the year. Gobbetti, who ...
How Chicago is reimagining the future of local journalism as papers decline
Chicago has about 200 print, online and broadcast media outlets, according to an estimate by Tracy Baim, publisher of the Chicago Reader, which founded the Chicago Independent Media Alliance (CIMA ...
Find hotels near Fashion Outlets of Chicago, Chicago from CA $62
Prices and availability subject to change. Additional terms may apply. Guide for Hotels Near Fashion Outlets of Chicago in Chicago Explore the sights, discover the sounds, and immerse yourself in the ...
Fashion Outlets of Chicago
Track the global market performance of the luxury sector in China. With current news updates, share prices, and stock market data based on Chinese consumer interest, this index monitors the overall ...
Fashion Outlets of LA
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Fashion Outlets of Chicago Job Fair: Friday, June 14- Saturday, June 15
The Fashion Outlets of Chicago, set to open August 1, will host a dedicated job fair Friday, June 14, and Saturday, June 15 at the Donald E. Stephens Convention Center in Rosemont. The new 530,000 ...


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WASHINGTON, Sept 16 (SEE)- Loup Ventures’ Analysts Gene Munster, Will Thompson said on Saturday that Apple will increase its average iPhone prices by 20% for the fiscal year 2019.
They observed that the average price of the iPhone is higher than the average sales price for the fiscal year 2018 at $ 745.
According to the analysts, the Apple iPhone is now available at a price of $ 449 to $ 1449, 20% higher than last year’s average of $ 636.
The low-priced Apple iPhone XR is expected to receive 38 percent of iPhone sales. The iPhone XS Plus, which is the most expensive and the iPhone XS will receive 12 percent and 9 percent of sales.
“iPhone will capture 59% of the total sales in the fiscal year 2019,” they added.
Analysts have not changed their expectations for iPhone’s total sales for the fiscal year 2019, and they still expect Apple to sell 225 million units.
Apple continues to increase customer loyalty and create more revenues by refining and improving their new products.

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Europe Sun & Beach
This summer the Russian tourist flow to Bulgaria will reduce by 5%
The Minister of Tourism of Bulgaria Nikolina Angelkova told reporters that as for today the number of bookings of Russian tourists has decreased by 5% in comparison with the same period of the last year. "I think this season the Russian tourist flow will be reduced by 3-4%, maximum - 5%", - stressed N. Angelkova. She added that the price has a big impact on demand and Turkey remains the main competitor of Bulgaria. Speaking at the international forum Hotel & Tourism Investment, Nikolina Angelkova noted that more and more tourists in Bulgaria are resting in hotels which offer high-quality services. In 2017 more than 3.7 million tourists rested in 4-5-stars hotels, which is 32% more than in 2014. And the incomes of these hotels exceeded 919 million Leva - 49% more than in 2014. According to Ms. Angelkova, the tourist administration works in constant contact with large international hotels operators. Among them are Hyatt, Marriot, Review Pro, Avvio, Choice hotels, Louvre hotels, IDeaS a SAS Company, STR, etc. According to the Ministry of Tourism, in 2017 8.9 million of foreign tourists rested in Bulgaria, which is 7% more than in 2016. "We expect that in 2018 the number of foreign tourists in Bulgaria will increase by another 5% against the last year", - said Nikolina Angelkova.


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Middle Eastern video-on-demand service icflix has partnered with Samsung and LG to launch an app for their respective lines of smart TV.
The icflix app is available to download globally on both the Samsung and the LG application stores, though only subscribers in the Middle East and North Africa will be able to access the service.
Dubai-based icflix claims to be the first subscription-based movie streaming service in MENA. The service launched last year and offers, Hollywood, Bollywood and Jazwood (Arabic) content for a monthly subscription of US$7.99 (€5.80).
The pros and cons of FAST digitaltveurope.com/comment/the-pr…
20 June 2021 @ 13:38:00 UTC


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Plans to introduce genetically modified wheat to the Canadian Prairies are meeting fierce resistance from some farming groups.
The biotechnology company Monsanto is seeking approval from Canada's government to grow a variety of GM wheat that is resistant to its Roundup weedkiller.
But farmers are threatening to take out a legal injunction to prevent the crop from being grown commercially, fearful that it could contaminate organic and conventional varieties, and taint the vitally important Canadian grain export market.
Organic farmers in Saskatchewan are already preparing a class-action lawsuit against Monsanto for making it impossible for them to grow canola (oilseed rape) on their land, since they can no longer guarantee that it is GM-free.
Contamination from herbicide-resistant canola is now so widespread, they argue, that their zero tolerance of GM content is unachievable, and they are demanding compensation.
And they fear that modified wheat will be even more difficult to control.
One organic wheat-grower near the city of Saskatoon, Jim Robbins, told BBC News Online: "In the case of canola, it's a done deal. I've lost it as a possible crop.
"What distresses me is the talk of releasing a GM wheat. They're saying in advance that they know it's going to contaminate my crops and my fields.
"They know I have this rule that I have to meet that it can't have any GM in it, and yet they're blundering ahead as if there's no liability in any shape or form."
But the opposition to Monsanto's wheat goes far beyond the relatively small organic sector.
The Canadian Wheat Board (CWB), which markets prairie grain to the rest of the world, is now urging the company to withdraw its application.
Ken Ritter of the CWB said 82% of its customers said they did not want GM wheat, and he fears it could damage crucial export markets in places like Japan and Europe.
Canola fields dot the prairies
"Our perception from our farmer-growers is that they don't want to grow it - they're very concerned that it will cross-contaminate everything," he said.
"Our elevator systems are saying they cannot segregate it to the level required by our customers. So, if we want to continue to be a major wheat exporter, registering Roundup Ready wheat in Canada is a mistake."
Monsanto itself insists it will not push ahead with commercial planting unless and until satisfactory systems can be developed to separate the crop from conventional grain.
Trish Jordan, of Monsanto Canada, said: "We acknowledge the concerns that have been expressed by some farm groups.
Monsanto says it is well aware of the segregation issue's importance
"Conversely, we have other farmers who say 'you know what? I've seen the benefits that this technology has provided to me on my farm in canola, cotton, soybeans and corn, and I really trust that Monsanto can bring these same benefits to me with wheat'."
But with many groups in the United States also concerned about bringing GM technology to such a staple food crop, this is one battle Monsanto could find it very difficult to win.


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“We’re like a close knit family, we’ve all worked together so long,” Benner said. “When I decided to move, so did my whole sales crew along with my warehouse guys.”
The team moved to Allen Samuels on March 1, 2005, and the transition was a successful one. Benner said when he started, the parts department was yielding monthly sales of $325,000, and that number quickly increased to $800,000.
The dealership is a member of the Mopar Masters Guild, which is comprised of the top 100 purchasing dealers of DaimlerChrysler.
With more than 22,000 lines housed in a 20,000 square-foot facility, there’s a good chance the part that a body shop is looking for will be on hand. Benner estimated that 88 percent of the average order is filled inhouse, and 12 percent is ordered and delivered overnight.
Accept no substitute
As a Dodge dealer, the parts department at Allen Samuels sells only original parts, and they are the number one selling Dodge parts dealer in central Texas. Benner has the option of selling aftermarket parts, which he did for some time, but eventually decided against.
“My biggest problem was accessibility of getting the parts,” Benner said. “I didn’t feel like I could give my customers a fair service with aftermarket parts, so I got out of it. Some of those things took months to get.”
In the last year and a half, Mopar implemented a program to match the price of certain aftermarket parts, such as fascias and lamp assemblies. Benner said this allows his parts department to be more competitive.
The competitive prices have benefited Hutch Hudgins, owner of Hutch’s Body Shop in Cedar Park, Texas.
“We’ve had a relationship with them for a number of years,” Hudgins said. In that time, Allen Samuels has matched aftermarket prices on bumper covers and sheet metal on most occasions, Hudgins said.
“Body shops now are graded on what percent of aftermarket parts they sell, so it certainly does affect us,” Benner said. “But we are going to stick with our original equipment parts, which in our opinion gives the customer a better value. It also gives the body shop a better fit.”
The truck state
As for the most popular parts, it’s the Dodge trucks, by far, Benner said. Truck hoods, fenders and grills rack up the most sales. This comes as no surprise for a parts department located right in the center of Texas.
“In Texas everybody seems to have a truck in their driveway,” Benner said. “Here, everybody drives trucks, even the ladies and the wives. Ever since they introduced the 4-door truck, it can be a family car.”
It is safe to assume that Benner drives a truck, and he quickly offers the details of his 4-door pickup, a one-ton Dodge duely.
Once the orders have been filled, 18 trucks set off in different directions to make the deliveries throughout Texas. The trucks follow different routes, with stops as far away as Dallas and then on to Fort Worth, Midland, Odessa and San Angelo. The deliveries continue all the way to Corpus Christi, and Laredo and around to Houston, Bryan and College Station, among other locations.
The delivery route has recently expanded to include Louisiana as well. Deliveries depart Allen Samuels throughout the day and into the night, and parts are dropped off at the body shops from early morning until noon.
It’s the little things that count
Benner prides himself on the ability to fill orders with efficiency, but he said what really matters goes well beyond that.
“Everybody has the same thing that they’re selling, it’s parts,” Benner said. “What separates a good dealer from a not-so-good dealer is service. Without service you’re just like everybody else. To me, we sell service. We don’t sell parts, we sell service.”
In the end, it comes down to the way you treat a customer, Benner said. Lead wholesale sales-man, Chuck Foster, and the rest of the crew honor this sentiment. That resonates with customers, such as Toby Cavaness, parts manager of Busker’s Body Shop in San Angelo, Texas.
“Every once in a while we run into really oddball stuff, whether it’s an accessory or aftermarket part,” Cavaness said. “Normally, if I have trouble finding something, Chuck knows what it is and where to find it.”
As one of 12 Allen Samuels dealerships in Texas, Benner can pull inventory from any of the locations.
Distance is not a hindrance either, and Benner said he has bought parts from California or as far away as Maine, and they are shipped overnight.
“When a customer calls and wants a part, there is no obstacle that we can’t overcome,” Benner said. “We get that part to them as quickly as possible. If it’s not available, we find it.”
For more information on Allen Samuels Dodge in Austin, call (800) 856-2728 or visit http://austin.allen-samuels.com.


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Grab a Bucket: It's About to Rain Gold
The Next Phase of the Bear Market
The Next Phase of the Bear Market will start with:
Subprime Auto Credit Collapse
Lucky Lopez buys repo’d cars.
He’s a 20-year veteran of the auto industry. As a car dealer and auction buyer, Lopez sits on the frontline of the auto financing market. He’s even got a YouTube Channel that’s popular with dealers.
According to Lucky prices are collapsing, and inventory is piling up, fast.
He believes the sudden turn in the market is going to hit subprime buyers and lenders hard. Lucky says, “in 2008 we had a housing bubble, and now we have an auto bubble.”
In recent years, bank lending standards for car loans “went out the window.” Lopez reports banks routinely offered auto debt with a “loan-to-value” ratio of 140%. This means banks would write a loan for 40% more than the value of the underlying vehicle.
Of course, this is bad business in any market. But in today’s car market, these loans are set for a spectacular collapse.
Here’s the story…
COVID-19 disrupted supply chains across the board. Including those for carmakers. Meanwhile, the stimulus bonanza gave incomes a jolt, allowing consumers to bid up a limited supply of vehicles.
That’s how the average new car price spiked to a record $47,077 by December of 2021. While used car prices jumped above $30,000 for the first time ever.
Recently, when those stimulus payments dried up, and real wages plunged, undeterred consumers binged on debt to finance ever-higher vehicle costs. Federal Reserve data shows the average consumer is taking out a record $38,000 in debt to finance new vehicle purchases, up 20% from 2019.
Car loans have become one of the largest and fastest growing segments of consumer credit in recent years. The volume of outstanding loans has doubled to over $1.4 trillion over the last decade. Today, autos make up the third largest source of consumer credit in America.
Lenders encouraged the boom by loosening up loan standards, including issuing loans to lower quality, subprime borrowers. They also kept monthly payments low by extending the duration of loans.
In the old days, the longest-term loan you could get for a vehicle was 48 months. After all, we’re talking about a depreciating asset. But lenders found they could suck people into buying more cars than they could really afford by offering a lower monthly payment through a longer-term loan.
It started with the introduction of 60-month car loans, which then grew to 72 months. Today, you can finance a car with an 84-month loan. That’s seven years.
And many Americans are doing exactly that. Experian data shows that 32% of new car purchases in the first quarter of 2021 were financed with loans ranging between 73 – 84 months in duration. Another 39% of loans were issued with terms between 61 and 72 months.
While these longer durations can help keep the monthly payments low, consumers ultimately pay a high cost – paying nearly twice the value of the vehicle in financing costs in some cases, like the example shown below:
Meanwhile, a growing number of these loans were issued to subprime borrowers – those with poor credit histories. The percentage of subprime borrowers in the market has increased from roughly 10% of all auto loans in the 1990s to nearly double that number today.
How many of these subprime loans could go belly up?
Back in 2017, the Attorney General of Massachusetts claimed that one of the leading subprime auto lenders – Santander – estimated that 42% of its loans to Massachusetts residents were expected to default. Of course, the problems have only ballooned since then…
Last year, subprime auto issuance surged to $44 billion, or nearly 50% above the previous all-time high:
Just like the real estate boom of the early 2000s, a big contributor to this subprime auto lending fiasco is the lack of income verification. Consumer Reports analyzed over 800,000 loans from 17 major auto lenders and found that 96% of borrowers did not have their income verified.
The Consumer Reports analysis also showed the bulk of borrowers taking on more debt to finance their cars than they can afford. A common rule of thumb is that no more than 10% of a consumer’s monthly income should go towards an auto loan. But nearly 25% of the loans Consumer Reports analyzed blew past this threshold.
And perhaps the most eye-opening statistic of all – 46% of the loans in the Consumer Reports study were underwater on their loans. On average, consumers owed $3,700 more than the vehicle was worth.
All that debt is becoming hard to carry.
With inflation spiking to the highest levels in over 40 years, consumers are now getting squeezed by soaring costs for housing, gasoline, food, and other basic costs of living. They can no longer afford the outsized car loans that banks so generously extended during the boom.
As Lucky Lopez reports, he routinely sees consumers living on $2,500 a month carrying a $1,000 per month car payment. This was possible to pull off during the early stages of the stimulus bonanza in 2020 - 2021. But now, with stagnant wages and spiking inflation, it’s impossible.
Data from Experian shows default rates have surged. In 10 U.S. states, auto loan delinquencies have spiked above 10%. And in Washington D.C. an incredible 23.4% of all car loans are delinquent.
Meanwhile, repo companies are buying up vacant car lots to capitalize on the huge numbers of repossessions. And remember those banks who made loans at 140% of vehicle value during the boom?
Lopez reports seeing recovery rates as low as 70 cents on the dollar at recent auctions. That’s a 50% haircut. And we’re still in the early innings.
One of the secrets on Wall Street this week: The stakes are high. A record $1.3 trillion in debt is at risk from the coming meltdown in America’s auto loan market:
Hundreds of billions of dollars could go up in smoke. Of course, this won’t be a repeat of the 2008 mortgage crisis. Auto loans pale in size compared with the real estate market.
But it’s just one example of the massive scale of capital misallocation that occurred during this market cycle. We could soon see trillions of dollars in paper wealth evaporate, creating devastating ripple effects throughout the economy and financial markets.
In fact, it’s already playing out in front of our very eyes…
Reverse Wealth Effect
Take cryptocurrencies. At its apex in November of last year, the total crypto market capitalization reached a mind-boggling $3 trillion.
Fast forward just eight months later to today, and over $2 trillion of paper wealth has evaporated from the crypto market. For a frame of reference, the total value of all subprime loans was only $1.3 trillion at its peak in 2007.
In other words, we’ve just witnessed a subprime-sized implosion in cryptocurrencies alone:
During the crypto boom, soaring asset prices produced a powerful wealth effect that trickled down to all areas of the economy. Now with the crypto bust, a reverse wealth effect is taking hold.
Take for instance the “Rolex index” – a time series tracking prices of high-end watches. After enjoying a surge in prices alongside inflating asset valuations in recent years, high end watch prices are now rolling over as the liquidity tide recedes:
We also see clear warning signs in other asset prices and leading economic indicators pointing toward a recession…
A Late Cycle Economy on the Brink of Recession
Late cycle economic expansions follow a familiar playbook, where previously lose monetary policy pushes up commodities prices and inflation, forcing the central bank to tighten monetary policy. As the Fed raises rates, the spiking U.S. Dollar and higher borrowing costs put downward pressure on consumer incomes and corporate earnings.
We saw this same pattern precede each of the prior recessions and bear markets.
In the lead up to the Dot Com bust, oil prices tripled from $11 per barrel in in December 1998 to $37 by September of 2000. The Fed start raising rates, the Dollar spiked, and the Dot Com recession and bear market was in full swing by early 2001.
Likewise, commodities rallied across the board in the lead up to the Fall 2008 Financial Crisis. Oil famously ran to all-time highs of $147 per barrel in June of 2008, exerting tremendous pressure on consumer incomes at a time when the economy was already contracting.
In the summer of 2008, Wall Street and the Federal Reserve were fixated on inflation as a key economic threat. Of course, we all know what happened next… the global economy was less than three months away from plunging into one of the greatest deflationary busts of all time.
But for those paying attention, the writing was on the wall as far back as 2007.
A full 18 months before the Great Financial Crisis, subscribers to the Stansberry Investment Advisory received the following warning in December of 2007:
“With another 2 million homeowners facing higher interest resets on their adjustable-rate mortgages, it seems that the total number of defaults is going to keep climbing. And that's trouble… I now believe our country’s mortgage crisis will spill over into the general economy.”
In that same issue, subscribers received the following advice:
“This is a time to be extremely cautious with your own finances. I believe the S&P 500 will fall this year, by more than 10%. Most stocks will probably decline this year. Thus, simply holding cash isn't a bad strategy right now – your cash will probably outperform your stocks in 2008. Also, I think you should consider hedging your portfolio with some short sales – even if you've never done so before.”
And again, the following warning was issued in March of 2008:
“With the S&P 500 down 24% from its peak to its recent trough, we are in the midst of a real bear market. My belief today is stock prices – on average – are going to go lower. Perhaps even much, much lower… I don’t think we’ve seen the ‘throw in the towel’ moment.”
Finally, there was the call to short Fannie and Freddie on their way to zero, in the May 2008 issue:
“Fannie Mae and Freddie Mac, the two largest and most leveraged owners of U.S. mortgages are sure to go bankrupt in the next 12 months. Congress may decide to assume their liabilities, to prevent an unprecedented global financial calamity, but Congress won't bail out the firms' shareholders… I recommend you sell an equal amount of each stock short.”
While we’re not calling for another financial crisis today, we do see signs of epic economic distress and a recession looming on the horizon. With inflation soaring to the highest levels in over 40 years, central banks around the world are being forced into the most aggressive monetary tightening campaign of our generation.
Earlier this week, the U.S. consumer price index came in at a blistering 9.1%. Now, Wall Street is pricing in a rate hike of 100 basis points at the Fed’s next meeting – the largest rate hike since 1984.
Asset prices have begun correcting in the face of weak economic data and the Fed’s aggressive tightening campaign, with U.S. stocks officially in bear market territory. But we believe there’s more pain to come.
Which for you – it’s great news.
First though, about that pain…
In addition to the distress in the subprime auto market, consumers have taken on record levels of credit card debt to counter the cost-of-living crisis. In the wake of the COVID stimulus bonanza, consumers initially used the extra funds to pay down credit card debt. But this trend reversed in early 2021 when the stimulus money stopped flowing and inflation picked up.
Today, consumers are saddled with a record amount of high interest credit card debt:
This sets the stage for a coming wave of defaults, and lower consumption, as the economic downturn accelerates.
We already see extreme distress via collapsing consumer sentiment – a key leading economic indicator, showing worse conditions today than at the depths of the 2008 Financial Crisis:
It's only a matter of time before today’s weak consumer activity shows up in corporate earnings. Already, analysts have been busy downgrading their estimates for the upcoming second quarter reporting period. With stocks already in an official bear market (i.e., 20% off their highs), the market appears to be pricing in an imminent hit to corporate earnings:
The U.S. economy contracted by 1.6% in the first quarter, and it’s very possible that we may have already entered a recession.
Of course, Wall Street economists have so far brushed off the bad news and currently forecast a full rebound to economic growth in the second quarter. But the indicators we track show little to no signs of improvement, including the real-time GDP forecast from the Atlanta Federal Reserve:
Finally, there’s one of our favorite economists: Dr. Copper, along with other key base metals like aluminum, which provide reliable leading indicators as key material inputs throughout the economy.
Base metal prices have collapsed across the board, approaching levels last seen in 2020 - back when the global economy was struggling to emerge from COVID lockdowns:
And it’s not just base metals putting up warning signs. Commodities ranging from energy to agriculture, and everything in between, have entered a tailspin in recent weeks:
The flipside of the commodities collapse is the spiking U.S. Dollar – another consequence of Fed tightening and a general flight to safety among investors:
U.S. companies in aggregate generate roughly a third of their earnings offshore. So, a higher U.S. Dollar presents yet another headwind for corporate earnings, and thus stock prices, in the months ahead.
Finally, the single most reliable indicator of an upcoming recession is flashing bright red: the Treasury yield curve.
The spread between the 10-year and 2-year Treasury yield has inverted before every recession since World War II. That’s why the following chart should put all investors on edge, as the yield curve has officially inverted:
Here’s the bottom line in all this…
The most inflation in over 40 years has crushed consumer incomes, forcing the Fed into an aggressive rate hiking cycle. Defaults are spiking while leading economic indicators have turned down across the board.
And Mr. Market is telegraphing economic turbulence through the collapsing prices of commodities, stocks and bond yields while sending the safe haven U.S. Dollar soaring into the stratosphere.
There aren’t many more boxes left to check for a late cycle economy transitioning from boom to bust.
So, what does this mean for you and your money?
Remember that great news we mentioned? When an economic storm of this magnitude hits – that’s when you get generational opportunities to buy world class businesses at fire sale prices.
Warren Buffett explains it best, “Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold.”
In this issue, we’re taking our cue from the world’s greatest wealth compounder – Warren Buffett. We’ll quickly revisit Buffett’s incredible long term track record. Along with the secrets that made it possible.
Then we’ll share with you a list of our own Buffett-style, world dominating businesses.
These are hand-picked companies that meet our strict criteria of capital-efficient, world-class brands with pricing power and impenetrable moats. We’ve put them on our “bear market buy list” as stocks we hope to buy at fire sale prices when the bear market kicks into high gear.


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ASHLAND – The Ashland Republican Town Committee unanimously voted to send a letter to Massachusetts Governor Charlie Baker to “categorize ammunition and firearm retailers’ as essential businesses, during the COVID-19 pandemic.
“Whereas the number of available law-enforcement officers in the Commonwealth is likely to shrink as a result of COVID-19 infection, whereas less-intensive policing could foster an increase in conventional crime, whereas potential shortages of both food and funds could induce civil unrest like that which has occurred elsewhere in the world, whereas the Supreme Judicial Court has ordered the expedited release of incarcerated criminals, whereas autonomous self-defense is both a basic human right and an explicit constitutional right, and whereas firearms are an indisputably effective means of self-defense, the Ashland Republican Town Committee respectfully requests that Governor Baker categorize ammunition retailers and firearm retailers as “essential businesses” during the current public-health crisis,” wrote the Committee to the Governor.
In at least 30 of the 50 states, gun retailers have been allowed to stay open as essential businesses.
Last week, in New York, the National Rifle Association sued Governor Andrew Cuomo, a Democrat, over his March 20 order to not include gun stores as essential businesses that can stay open.
The lawsuit, filed in federal court in New York, accused the New York Governor of having “indefinitely suspended a key component of the Second Amendment to the United States Constitution.”
Liquor stores in both Massachusetts and New York were deemed essential businesses but firearm retailers were not.
It was the second-busiest month ever for gun sales, trailing only January 2013, just after President Barack Obama’s re-election and the mass shooting at Sandy Hook Elementary School.
Ashland Republican Town Committee Treasurer Jon Fetherston was president of the Committee at the time of the vote. Former Selectman John Kirwan is now the President of the Ashland Republican Committee.


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Are You Part Of These Coffee Trends?
Every year, the National Coffee Association compiles a report that looks at trends in the coffee industry. The most recent report, 2020 National Coffee Data Trends (NCDT), uncovered some interesting findings about who, what, where and how coffee is being consumed. Here’s a few key takeaways!
Most People Drink Coffee Daily
You’re not alone in your coffee habit. Most Americans, 62%, drink coffee daily. If we look at those that drink once or more per week, that number jumps to 70%. All trends in the report show continued growth in coffee consumption year after year. Long story short, coffee is here to stay!
It’s About More Than Just Coffee
It’s no surprise that as the world becomes more woke, the expectations of companies to do better are translating into the world of coffee. Most coffee drinkers, 53%, want to buy coffee that is good for the environment, farmers, and communities. Frankly, it’s nice to see consumers recognize the true impact of coffee and using their wallets to show companies what matters most.
The Coffee Experience is Changing
Times are a-changing with convenience and technology playing a bigger role in our daily lives than ever before. With so many on-the-go, nearly half of daily coffee drinkers are opting for the convenience of a drive-through to purchase their coffee. Smartphones are also changing the way we get our coffee, with a quarter of people ordering from apps in the past week. I fully expect we will continue to see mobile ordering and convenient formats continue to grow in popularity!
Drinks Are Becoming More Sophisticated
People are no longer treating coffee as a commodity and are pursuing unique coffee experiences around every corner. This is led by tremendous double-digit growth in specialty coffee consumption across the past few years. With increased sophisticated and evolving craft coffee culture, we see the demand for espresso-based drinks, led by lattes and cappuccinos, growing too. Almost half of coffee is enjoyed with milk or sugar, and only a small minority are enjoying it, like me, black. When it comes to milk, cow milk is no longer the expectation with more consumers drinking alternative milks than ever before.
Filter Coffee Makers Are Being Left Behind
In the last several years, there has been a double-digit decrease in those brewing coffee on traditional filter machines. We see these pot coffee makers being replaced by more convenient and efficient single-cup brewers, like the revolutionary Bruvi®, which have increased 50%+ in the past five years.
Older Coffee Drinkers Are More Traditional
Coffee consumption increases with age, and these “more experienced” coffee drinkers are far more likely to drink commodity (non-specialty) coffee than their younger friends. Their coffee habits are old school too. They opt for traditional pot coffee versus fancy espresso-based options and drinking at common times like breakfast.
Newer Coffee Drinkers Are More Adventurous
Specialty coffee consumption is led by the younger age groups. As part of their coffee exploration, they are far more likely to drink espresso-based beverages and, at times, outside of the traditional breakfast hour. While older age groups lead coffee consumption, we are seeing a dramatic increase year over year in some of the age brackets under 40. A lot of the innovations and advancements in the coffee industry are being steered by these younger coffee drinkers, so keep an eye on them!


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Even as middle class consumers are tightening their budgets, companies are finding ways to tout “everyday luxury” products—from food to shampoo—that cost 30-50 percent more. The trick: packaging.
When it comes to overall satisfaction with a product, consumers rank packaging almost equal to brand, according to new a satisfaction study conducted by MWV, a global packaging company. Packaging plays a major role in “nonconscious priming,” or the sensory factors that customers consider when evaluating how premium a product is, according to the study. In another study from the University of Miami, researchers found that the attractiveness of a product (measured by time customers spent looking at a product) was as important as personal preference for the brand.
Consumers can be tricked into thinking a product is high end by visual cues like muted colors, matte finishes and crafted-looking materials: chips packaged in a matte finished bag rather than a bright, glossy one seem artisan. Shoppers also are drawn to functional and sturdy looking products, ones that can maintain freshness, are easily portable and easy to open.
Even sound can convey luxury. According to a Wall Street Journal article, “The small sounds consumer products make—whether a snap, click, rustle or pop—can be memorable and deeply satisfying, often suggesting luxury, freshness, effectiveness or security.” Take, for instance the perfect Snapple bottle “pop” when you twist the cap off or the pleasing low hum of a high-end vacuum cleaner.
And then of course, there’s touch. Softer is better (think, cashmere), according to the study. And so is smooth and silky when it comes to lotions or conditioners.
Thanks to such packaging, a new group of consumers is splurging in small ways by purchasing thicker paper towels or pomegranate juice instead of orange juice accorfing to the report. It’s called the “democratization of luxury,” according to research firm Mintel, and it’s subtly stealing pennies from your pocket.


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London, 28th March 2013 – David Hunter, Chief Executive of Ukash [Ukash│http://www.ukash.com] has welcomed the news of a formal regulator for the retail payments sector.
“As CEO of one of the UK's leading alternative payment services, I welcome this initiative with open arms. The Payments Council, perhaps due to its voting and membership being dominated by institutions resembling wounded dinosaurs, is failing consumers, innovation, and new market entrants.”
In particular, David Hunter believes e-money should be taken into account in any new regulation for the sector as it becomes an increasingly important component of the retail payments chain.
“As the e-commerce arena has grown in the past few years, so too has the means by which consumers can access it”, continued David Hunter. “But what has become clear is that consumers must be given the widest possible choice to interact – and that means including all social groups, including those who don’t wish to or can’t engage in conventional financial services tools such as bank accounts or credit cards.
“e-money services like Ukash provide a vital route to facilitating financial inclusion and should, therefore, have a say in the new regulation.”
About David Hunter
David Hunter, appointed Chief Executive of Ukash in January 2011, has led significant market growth for the global e-money network and internationally recognised e-commerce cash payment method. Achieving a remarkable 65% increase in year-on-year sales, Ukash now processes in excess of £500m eMoney transactions throughout the world. Under David Hunter’s leadership, Ukash has also secured a number of key partnerships to extend the reach of e-money to an ever widening consumer audience.
A champion of prepaid commerce, and in particular cash-based electronic money, David Hunter’s background in the online cash payment arena has been instrumental in the recent success of Ukash. His passion for breaking down the barriers for people to trade and buy online has also been fundamental in driving the strategic direction of the business.
In particular, David is keen to see Ukash increase its acceptance in economies that are cash-driven, where there isn’t a strong banking infrastructure or where there is a large community that does not have access to traditional banking and credit facilities, such as migrant communities. Ukash provides a solution for these consumers, enabling them to transact online and to be socially included, giving them access to the same benefits of online shopping as those with credit and debit cards enjoy.
For further information or interviews with David Hunter, please contact the Ukash press office at HSL on 0208 977 9132. firstname.lastname@example.org
Wendy Harrison, Jenny Thorneywork or Clare Watson.
Notes to Editors
Ukash is the Global e-Money Network and internationally recognised e-commerce cash payment method that enables consumers around the world to use cash to shop, pay and play online safely, securely and conveniently. This secure payment method was developed to protect personal identity and financial information when making online transactions, reducing the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers. Ukash has no age limit, so consumers of all ages can make the most of safe payment online.
Ukash codes are purchased with cash in retail outlets such as shops, petrol stations and kiosks, and issued online from the company’s website. The unique 19 digit codes can then be used to pay directly on any of the thousands of websites that accept Ukash transactions worldwide, or loaded onto prepaid cards and e-wallets.
Established in 2001 under the holding company Smart Voucher Ltd, Ukash® has grown to more than 460,000 physical points of purchase, and is available in more than 50 countries around the world in 6 continents.
Ukash is regulated by the UK Financial Services Authority (FSA). The maximum single value allowed is £200/€250 or equivalent in other currencies, and the maximum amount that can be held by an individual customer is £1,000/€1,250 or equivalent in other currencies.
This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Personal Finance, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.


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Throughout the spring and summer, one of the most persistent of issues for investment markets has been the future of global trade. Specifically, world markets are faced with the possibility of new tariffs and are questioning the following: what amount might be imposed, on what products, by which countries, against which countries…and, when would any tariffs take effect? Could there be some compromise before any new tariffs take effect? The result of unanswered questions is confusion and uncertainty.
Here is a simple example of how the economy, interest rates, currencies and trade are related: The U.S. has a strong economy and the Federal Reserve seems poised to continue gradually increasing interest rates. The strong economy combined with a probability of higher interest rates has attracted capital into the U.S. away from many other countries. Consequently, the U.S. dollar has increased in value (i.e. stronger dollar) and many foreign currencies have decreased in value against the dollar (i.e. weaker foreign currency). This means U.S. products become relatively more expensive to other countries due to the re-pricing of currency, and might become more expensive if tariffs are imposed by the foreign country on U.S. imports. Likewise, it might become more expensive for the U.S. to import products from foreign countries if the U.S. assesses tariffs on imports. The resulting uncertainty of how tariffs might shift imports and exports between countries causes volatility.
The U.S. economic expansion began in March 2009 and is now in the 2nd longest period of expansion in history. The longest expansion cycle began in February 1991; the longest prior expansion began in January 1961. Despite the ongoing uncertainty of the future direction of world trade, there are several positive U.S. economic and market data points to be aware of (through 9/7/2018):
- For the past two quarters, publicly traded companies’ earnings exceeded analysts’ expectations.
- The U.S. economy continues to expand.
- New orders from businesses for machinery and equipment have increased over four consecutive months.
- Spending for residential construction has increased by 10% from one year ago.
- New auto sales have averaged greater than 16 million per year for the past five years (reference point: in 2009 annual sales were around 9 million).
- The Federal Reserve balance sheet (that is, the amount of debt held by the Fed) has decreased to the lowest point since May 2013. A reminder: The Fed absorbed a significant amount of debt from financial markets after the 2008 crisis.
- Unemployment has dropped to 3.8% and the economy continues to add new jobs.
- Initial jobless claims are at the lowest level since 1969.
- U.S. large company growth stocks are one of the best performing asset classes for U.S. investments year-to-date.
Timothy A. Weller, CFP®


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The drop is primarily attributed to the sanctions imposed by the European Union (EU) against Russia due to its military operation in Ukraine. Previously, the European Union had been a significant importer of Russian timber, making this decline particularly notable.
In 2021, timber exports to European countries, including various by-products like birch logs, plywood logs, and fuel chips, reached a value of approximately USD504 million, as reported by the Federal Customs Service of Russia. Finland accounted for over half of these exports, amounting to around USD374.5 million. Wood sales alone constituted nearly 20 percent of Russia’s total export shipments.
However, the situation changed significantly after July 10 when the European Union embargoed imports of almost all products from the Russian forest sector. Consequently, sales to European Union countries gradually diminished to zero. Moreover, during the first quarter of 2023, the United States, Japan, and South Korea also reduced their purchases of Russian wood products to approximately 271,600 cubic meters. Japan witnessed a significant decline in imports, with a decrease of 47.7 percent, while the United States and South Korea reduced their imports by 40.3 percent and 18.7 percent, respectively.
In summary, the latest data reveals a continued decline in foreign sales of Russian timber, mainly attributed to the EU sanctions imposed on Russia following its military operation in Ukraine. The EU had been a major market for Russian timber, but the embargo led to a complete halt in sales.
Additionally, other countries such as the United States, Japan, and South Korea also reduced their imports of Russian wood products during the first quarter of 2023. This ongoing decline in foreign sales poses challenges for Russia’s timber industry and its export sector as a whole.


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Environment Minister Prakash Javadekar on Monday Rajya Sabha that fuel compliant to BS-VI (Bharat Stage VI) emissions norms has been introduced in the national capital. The minister also confirmed to the Upper House that the sale of BS-VI compliant vehicles will begin in April next year. "BS-VI compliant fuel is now available in Delhi and from next year BS-VI emission compliant vehicles will also be available," Javadekar said the Question Hour.
He said dust pollution causes respiratory diseases and hence all forms of pollution should come down. The government is developing various peripheral expressways to ensure that no trucks pass through the national capital and nearly 60,000 trucks are currently not entering the national capital, Javadekar added.
Car manufacturers are currently preparing for a smooth transition from BS-IV to BS-VI norms compliance. Maruti Suzuki has already launched four of its models with BS-VI engines - Baleno, Swift, Alto, and WagonR.
Only petrol variants of WagonR and Swift, i.e. the 1.2-litre, K-Series VVT engine has been upgraded. Maruti is only upgrading its petrol lineup since it's already announced that it will not roll any more diesel engines starting April 2020.
Speaking of two-wheelers, Hero MotoCorp has upgraded its Splendour iSmart motorcycle model with a BS-VI compliant engine. Having received certification for the Splendor iSmart motorcycle, Hero MotoCorp will now be gearing up to make its entire portfolio of motorcycles and scooters BS-VI compliant.
Also, Honda Motorcycle and Scooter India unveiled its first BS-VI two-wheeler in the form of the new Honda Activa 125. It is now also the second scooter in India to come with fuel injection (the first being Hero Maestro Edge 125 FI). Honda will launch it in September this year.
Expect a rise in prices for all cars, motorcycles and scooters that are upgraded to BS-VI compliance since the engines will undergo an overhaul. Pawan Goenka, managing director, Mahindra and Mahindra, said that the transition will result in an increase of about 10% in prices. "A car priced at Rs 10,00,000 will see an increase of Rs 1 lakh,” Goenka said.
What happens if you use BS-VI fuel in a BS-IV vehicle?
As far as using BS-VI fuel in your current BS-IV compliant vehicle is concerned, car and bike owners have nothing to worry about. A BS-IV engine will run smoothly on BS-VI fuel. In fact, there are more advantages of using BS-VI fuel in BS-III and BS-IV compliant cars.
The lower the sulphur content in the fuel, the cleaner it burns (10ppm in BS-VI fuel compared to 50 ppm in BS-IV fuel). This will result in lower emissions of NOx, CO and Hydrocarbons on the petrol powered vehicles and on diesel engines, there will be a significant reduction in the lower particulate matter. Reports by ARAI suggests that a BS-IV compliant car running on BS-VI fuel (diesel) could emit 50% less particulate matter. To understand more about why BS-IV engines need to upgraded with BS-VI compliance, click the link above.


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San Francisco, CA -- (SBWIRE) -- 01/29/2015 -- While Silicon Valley has largely been considered to be the hub of major West Coast startups, recent numbers have shown that Portland, Oregon can hold its own in the technology industry. With this growing number of entrepreneurs thriving in Oregon's epicenter, startup lawyers may just be able to keep this progression moving forward.
2012 was a catalyst year for Portland when major tech firms made substantial financial profits. Oregon witnessed some huge deals in the first quarter of 2012 with a $30 million round for Puppet Labs, a $33 million round for Janrain and a $25 million round for Urban Airship. With these numbers in place, Oregon surpassed Washington in venture capital investment for the first time since 1993 with Oregon raising $146 million verses Washington's $100 million.
Furthermore, more entrepreneurs are looking to Portland to settle in as compared to the usual tech startup hubs because of a high quality of life, an abundance of talent and affordability. According to Bloomberg, Portland's GDP growth between 2007-11 outpaced other cities like Austin, TX and San Jose, CA. The Wall Street Journal also predicted that Portland is a city to watch for major startup growth.
Over the past five years two programs, the Portland Incubator Experiment and the Portland Seed Fund, have been instrumental in supporting startup expansion. Collectively, they have incubated more than 60 companies, which generated more than 775 jobs and raised more than $140 million.
However, successful startups don't always result in traditional benefits that conventional brick and mortar businesses of the past bring to the area. "Aspirational employees join startups with the expectation that growth will enrich them, and if that does not happen there is usually an exodus," comments OregonBusiness.com contributor Nishant Bhajaria. "If there is indeed demand to live in Portland and for the value our companies provide, wages will need to reflect that demand. Otherwise, Portland's growth could go from being a story of possibility to a missed opportunity at best and a liability at worst."
With the induction of so many new businesses, other legal issues can also arise. Employee rights, understanding local tax and processing laws, protecting IP, filing for copyrights and patents, and entering into contractual agreements can create challenges for many of the entrepreneurs.
Fortunately, while technology is becoming a larger catalyst for the change with growing legal marketplaces, innovators like UpCounsel are able to transcend traditional boundaries of time, space, corporate, and geographical boundaries in order to connect business with legal needs with helpful lawyers in Portland or anywhere across the U.S. in a virtual marketplace environment. They are able to offer much more competitive costs for legal services since they are primarily based online and carry minimal overhead when compared to big law firms.
While Portland seems to have a bright future ahead, these ground floor startups and the lawyers in Oregon who help them are the ones who will determine the economic growth of this dynamic city.
UpCounsel helps businesses and entrepreneurs to easily hire great attorneys on-demand that best match their legal needs and budget. By using UpCounsel's virtual legal marketplace to get advice and compare free proposals from specialized attorneys, businesses save hours of time searching for legal services and reduce their legal costs by 60% on average when compared to expensive law firms. To date, thousands of companies have used UpCounsel to save millions of dollars on legal services. For more information, please visit: https://www.upcounsel.com
178 Bluxome St., Suite 508
San Francisco, CA 94107


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For retailers swarming into Canada from the U.S. and Europe, most are discovering a steeper-than-expected learning curve. Yet, market dynamics suggest greater payoffs down the road.
Commercial venues such as Queen Street in Toronto and Vancouver’s Gastown neighborhood are getting hipper with relative newcomers like Zara, Uniqlo, Warby Parker and Shinola. Internet sales penetration is only 2 to 3 percent of total retail sales, meaning there’s plenty of opportunity online. Amazon is aggressively opening distribution centers. Developers have poured money into enhancing their best mall properties, and Canadians who have been in the habit of shopping south of the border are spending more at home due to the strength of the U.S. dollar and the country’s fresh crop of retailers bringing greater variety of products.
The door has swung open for retail outsiders, as homegrown retailing in Canada shakes out. This year Reitmans is closing 40 stores and Le Chateau is closing 18. Sears Canada has raised the possibility of liquidation, and shoe retailer Ingledew declared bankruptcy and will shut down. Last year, Reitmans shuttered 104 stores, including its Smart Set chain which had 29 locations and 42 Reitmans stores, and the Danier Leather chain folded.
“Either they did not keep pace with the way the market was changing as new entrants raised the bar, or it took them [too long] to recognize the whole e-commerce phenomena, which eliminated the need for many stores,” said Antony Karabus, chief executive officer of HRC Advisory and a native of Canada. “Also, the cost of real estate has gone way over the top. In places like Eaton Centre, Yorkdale Centre and Pacific Centre, a lot of low productivity chains just can’t make it. If you are paying $250 a foot rent and generating sales of $400 or $500 a foot, you can’t survive paying 50 percent rent.”
In Canada, the market is filling up fast. “I don’t think there is a lot of room for new entrants,” Karabus said. “U.S. players [in Canada] like Petsmart and TJX are getting stronger and stronger. I believe Nordstrom has such a compelling offering and will get its rightful market share in time.”
Overall, Canada’s retail sales in the first quarter were robust but a good chunk of that was vehicle and gasoline sales. Automotive was up 12 percent but retail stores selling apparel and accessories were just 2.7 percent ahead and only marginally better than in the U.S., according to Statistics Canada, an arm of the Canadian government.
“We have situations where business is kind of bursting forward in one sector, then another sector just drops off the cliff. There’s never a whole lot of traction overall,” observed Ed Strapagiel, a Toronto-based independent retail consultant.
According to a Euromonitor International report from February, “Despite rising household debt and real estate prices, Canadian consumers are unlocking their buying power to meet their consumption needs. Overall, more Canadians are entering the real estate market and are increasing their spending on food and local vacations. Health-conscious attitudes and a rising demand for healthy and local foods continue to dominate the mind-set of consumers. The most significant demographic trend facing Canadians is a rapidly aging population and a falling birth rate.”
Meanwhile, sales at many apparel stores have been slowing, partly because of shifts in how consumers are spending and partly due to the new players now taking a piece of the pie. Canada’s clothing stores were up an average 7.8 percent in 2015 but last year their gains dropped to 3.9 percent. “In terms of department stores and specialty clothing, jewelry and shoes things have slowed down,” said Strapagiel. “Electronics, home improvement, garden centers — that is where the money is going right now.”
Wal-Mart was the first in the wave of retailers entering the country about two-and-a-half decades ago, and in the past 10 years, there’s been a second wave of entries into the market, including Zara and H&M and more recently Saks Fifth Avenue, Nordstrom and Nordstrom Rack. Luxury retailers, such as Cartier, are still entering the market, but they are limiting the number of stores opening and the size of each. Asked if the market has reached the point of being overstored, Strapagiel said, “I don’t think so. I think we are about right.”
The demise of Target in Canada in 2015 has been a cautionary tale for expansion-minded retailers. Nordstrom, for example, which has six full line stores in Canada, is ready to sit back and see how stores already opened perform before opening more sites. It’s best-performing store is believed to be the Vancouver flagship, fueled by well-to-do Asian customers. The Seattle-based retailer’s Vancouver and Toronto flagships are fully rigged with Nordstrom’s newest selling floors concepts such as the men’s clubhouse for personal styling and relaxing, a centrally located bar, and the Pop-In pop-up format featuring unique products. “We heard from customers, “Don’t bring Nordstrom light,” said Erik Nordstrom, copresident of Nordstrom Inc., at this month’s World Department Store Forum in Toronto.
To capture more business online and offline, Hudson’s Bay Co. last year opened a state-of-the-art robotic fulfillment system in Scarborough, a suburb of Toronto, and has been installing new in-store formats including a Pusateri’s food hall at Saks Fifth Avenue on Queen Street and large Topshop and Topman shops inside certain Hudson’s Bay department stores. With the market filling up with new entries, priorities shift to generating greater business through existing doors rather than by opening new doors.
Canada, though vast in size, is a country with an economy about the size of Texas’, with about $1.7 trillion in GDP. The population is small, at 35.2 million as of 2016. It has increased by 1.7 million since 2011. The unemployment rate stands at 6.8 percent and services employ about three-quarters of the workforce. In 2016, Canadians averaged more than $44 billion in retail sales every month, according to Statistics Canada.
Despite the proximity to the U.S., “Canada has been hard operationally,” said Nordstrom, citing different labor laws, technology, climate conditions and the logistics of getting products across the border which often involve moving small quantities great distances. With Canada being bilingual, packaging and labeling has to be in English and French.
“Globalization is no panacea. Success rates vary widely,” said Andrew Jennings, whose career has taken him to the helm of several retailers around the world including Holt Renfrew, Karstadt and Woolworths SA. “Transporting successful retail concepts from one country to another is anything but clear-cut, as many retailers have discovered. No matter how successful a brand is on its home turf you cannot simply transplant it from one country and begin to count the profits — it does not work like that.…It all comes down to one over-arching priority — the customer. Understand your customer, get the offering right and everything else will follow — and at the same time ensure that the local management team understands the brand culture and translates it into that new market place.”
According to PwC Canada, for U.S. retailers “Canada is attractive because of its proximity, cultural similarities and strong economic performance through the recent global economic challenges. But while there are many similarities between doing business in Canada and the U.S., there are also several differences that require up-front planning to comply with Canadian regulations and ensure you operate effectively. How prepared is your business for cross-border expansion?”
Retail experts say Canadians are getting increasingly value-oriented, shopping more off-pricers and discounters such as Wal-Mart and TJX, and are not that different from U.S. consumers, though as Karabus suggested, “Canadians are not as openly flamboyant. They generally don’t make a loud statement. Discretionary spending by Canadians isn’t anywhere near the same rate as in the U.S.,” though spending on homes and autos has been robust. “Consumer debt is extremely high. Mortgage rates are extremely low. What if the rates go up a point? That will impact consumers’ ability to spend. That’s the one thing that worries me,” Karabus said.


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Bloomberg talks to Amazon contractors who review Alexa recordings
Bloomberg has spoken with Amazon contractors who say they listen to 1,000 Alexa audio clips per shift, on average, to review Alexa's response rates and identify glitches.
Amazon's AI audio review process appears more thorough and involved than those run by Apple or Google. Some contractors, for example, described how they were tasked with categorizing topics users ask Alexa about:
One worker in Boston said he mined accumulated voice data for specific utterances such as “Taylor Swift” and annotated them to indicate the searcher meant the musical artist.
A job opening Bloomberg found at the time described the reviewer's job, suggesting that the technology behind Alexa's responses still relies heavily on human curation:
A recent Amazon job posting, seeking a quality assurance manager for Alexa Data Services in Bucharest, describes the role humans play: “Every day she [Alexa] listens to thousands of people talking to her about different topics and different languages, and she needs our help to make sense of it all.” The want ad continues: “This is big data handling like you’ve never seen it. We’re creating, labeling, curating and analyzing vast quantities of speech on a daily basis.”


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Weaker demand from large customers is putting the squeeze on the data management company.
News & Analysis: NetApp
NTAP earnings call for the period ending June 30, 2019.
NTAP earnings call for the period ending July 26, 2019.
Earnings results hurt these stocks a lot more than the overall market.
The hybrid cloud company reported disappointing preliminary results and cut its outlook.
Sales and forecasts missed the mark, and a strong dollar wasn’t any help. But did it create a buy-the-dip situation?
The company missed earnings expectations and issued a soft forecast.
NTAP earnings call for the period ending April 26, 2019.
After an initial rise and fall during the tech bubble, NetApp has achieved business momentum with its new product suite.
Looking for fast dividend growth? Apple, NetApp, and Activision Blizzard are on track to deliver.


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For even brand new earth’s richest individual, $43 million are a steep speed. Elon Musk’s recommended most of the-dollars render to invest in Fb Inc. represents on the you to-sixth out-of their $250.six mil fortune. The majority of that wide range is actually tied to their stake into the Tesla Inc., the newest digital carmaker the guy co-centered who’s increased when you look at the value for the past 2 yrs and you will increased your to the top of your Bloomberg Billionaires Directory.
The acquisition isn’t easy, but Elon Musk has numerous financing routes. You to option is to market his Tesla shares downright. Several other are borrowing from the bank facing these to phase a great leveraged buyout, perhaps which have exterior couples. Musk, 50, currently possess from the $step three mil into the cash or other a bit liquid assets immediately following investing $2.six million to acquire an effective nine.1% stake for the Twitter recently, according to Bloomberg data.
The latest visa legislation during the UAE: All you need to realize about .
To own Musk to improve the additional $36 billion during the dollars must purchase the remainder of Fb would require attempting to sell regarding the 36.5 mil Tesla offers, or higher than a fifth out of his risk. Particularly an escape you’ll chance a fall about businesses show rate — let alone potentially raise questions about brand new union, financial and you may if you don’t, of its ceo.
“It will get a hostile takeover provide which is going to pricing a life threatening sum of money,” told you Neil Campling, head out of TMT browse at the Mirabaud Collateral Research. “He’ll need to sell a great little bit of Tesla stock to pay for it, otherwise a massive mortgage facing they.”
However, even for the newest wealthiest person in the nation, there are constraints: The Bloomberg list rates that he’s already lent about $20 billion up against his offers, leaving from the $35 mil remaining that he you are going to theoretically take out from the two holdings.
“Musk’s ‘most useful and you will final’ $43 billion non-binding bring has many requirements, also end out of financial support, and that we think provide a low likelihood of triumph,” Robert Schiffman, an excellent Bloomberg Cleverness older credit specialist, published Thursday for the research.
As to the reasons WhiteOak Capital AMC President try gung-ho towards a property& .
Myspace offers decrease step 1.7% Thursday during the New york, closure in the $. Musk provided $ for every single share when you look at the bucks. Tesla shares refused step 3.7%.
Musk had 52% out-of their Tesla offers pledged at the time of Summer 30, according to the company’s newest proxy processing. Maximum and this can be lent facing pledged offers try 25% of its value, centered on good Tesla coverage.
Since then, Musk has increased their show amount because of the exercising selection. Their 172.6 mil offers can be worth $170 billion, definition he might officially acquire $42.5 billion from the pledging them.
Musk told you in this he had and additionally pledged some of their SpaceX offers. Their 47% share from the business is value regarding $47.5 million, centered on the financial support round. When there is a similar maximum loan-to-well worth proportion, he could increase various other $twelve mil by fully pledging his SpaceX position — even in the event finance companies become payday loans ohio for yous way more careful funding a privately kept updates, because of the not enough liquidity.
Musk told you on an effective TED knowledge during the Vancouver with the Thursday one to he may seek to continue as much as dos,100000 established Twitter investors, reducing the bucks he would have to take it personal.
“Brand new intent would be to hold as numerous investors as well as anticipate of the rules,” he told you, including he “could technically pay for” a full cost.
After Saudi Arabia’s Prince Alwaleed bin Talal tweeted that the offer wasn’t “nearby the built-in value” from Fb, Musk expected exactly how many shares the fresh new millionaire held for the Myspace and you can on Kingdom’s look at freedom from address having reporters.
Lender away from The usa Corp., Goldman Sachs Class Inc. and you will Morgan Stanley was in fact about three of one’s banks that considering Musk signature loans, predicated on an effective 2020 Tesla submitting. He’s got hired Morgan Stanley to help you suggest into the Twitter quote, and his awesome friends office, Excession, was work at by the long time agent Jared Birchall, an old Morgan Stanley banker.
Regardless of what the guy happens about any of it, to purchase each of Twitter might possibly be a good stark shakeup out of Musk’s kingdom. His purchase of a good nine.1% risk, first uncovered last week, designated 1st significant diversification beyond Tesla and you may SpaceX.
“I’m not to tackle the back-and-onward online game,” Musk told you during the Thursday’s filing. “I have went right to the conclusion. It’s a high price as well as your investors would love it. When your contract doesn’t work, because the I don’t have believe in general management nor manage We faith I can drive the necessary improvement in the public industry, I would need certainly to you better think again my personal updates due to the fact a shareholder.”
Musk provides starred upwards their commitment so you can both Tesla and you may SpaceX, apparently tweeting about their profits and you will saying to sleep into the flooring out of a great Tesla facility to put an illustration so you can his professionals. Meanwhile, given that revealing his share within the Myspace, he’s got appealed to fellow pages regarding prospective actions plus in one to situation ideal the website might be perishing, given the lack of tweets from some superstars.
Nowadays, Musk have conveyed he or she is streamlining at the least certain aspects of their financial facts. They are marketed numerous mansions for the Ca just after vowing so you can “individual zero domestic,” into the 2020. He already stays in Texas, where the guy moved the newest headquarters regarding Tesla last year.


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Day to day real estate can change dramatically. However, you need to look at long term trends because when it comes to real estate, you’re not buying and selling daily. Real estate is held for the long term so those are the stats you should consider when you’re looking at buying a home.
Housing market conditions continue to follow similar trends to last year, with gains in sales throughout January. January sales activity was 863 units, nearly eight percent higher than last year’s levels.
At the same time, there have been further reductions in new listings, inventory and more declines in prices.
These adjustments are showing we’re nearing the bottom, but it is a flat bottom where we’re unlikely to see a spike upwards in the near future. A flat bottom offers opportunities. It indicates the market is becoming more balanced which is positive for sellers and it is starting to make buyers a little anxious and putting pressure on them to make a decision.
“We continue to see the slow adjustment to more balanced conditions, but it will take time before that starts to translate into price stability, ” said CREB® chief economist Ann-Marie Lurie. Buyers consider buying sooner rather than later when you can still take advantage of the instability in pricing.
The decrease in inventory due to stronger sales and less serious sellers coming off the market are leading to a stronger position for sellers. If you’re looking to sell, take advantage of the lower inventory and lower competition now before part-time Realtors come back from holidays and the spring market hits flooding the market with increased inventory.
HOUSING MARKET FACTS – City of Calgary, February 3, 2020
- Detached sales in January improved by six percent, thanks to growth in all districts except the North East.
- New listings declined by nearly 11 percent due to pullbacks in all areas except the City Centre and the North districts. Combined with adjustments in sales, this caused inventories to ease by 15 percent citywide.
- Reductions in supply and gains in sales supported reductions in the months of supply from nearly six months last year to just under five months this January.
- Detached benchmark prices eased by nearly one percent compared to last year. However, the only two areas to record notable year-over-year declines were the City Centre and West, with price declines exceeding three percent.
- Improving sales were met with gains in new listings, causing inventories to increase by 12 percent compared to last year.
- The gain in inventories prevented any significant adjustment in the months of supply, which remained elevated at nine months.
- The persistent oversupply continued to weigh on benchmark prices, which eased compared to last month and declined by two percent compared to last year.
- Despite slower sales in the South and Southeast district, city-wide attached sales improved by four percent. At the same time, new listings eased by nearly 18 percent, causing inventories to decline by ten percent.
- Improving sales and a drop in inventory helped the months of supply to dip below seven months, a significant improvement compared to last year’s level of nearly eight months.
- While this segment is trending toward more balanced conditions, persistent oversupply continues to weigh on prices, which trended down over the previous month and eased by over one percent compared to last year’s levels.
For the detailed market statistics from the Calgary Real Estate Board for January 2020 click HERE.
Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn or other areas in the Calgary region.


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Many prominent executives in Apple (AAPL) have been cashing in blocks of company stock for major payouts. As the company’s shares reached $617.62 yesterday, the soaring share price appears to have motivated some executives at the Cupertino, CA company to sell stock options as they vested for major paydays. In total, over $300 million in stock has been sold by five top executives. Most of the stock sold came in the form of Restricted Stock Units, or RSUs, which are generally awarded a little over four years ago and just vested.
“The Company believes long-term equity awards in the form of RSUs are the most effective way to attract and retain a talented executive team and align executives’ interests with those of shareholders,” the company said through its proxy.
Apple CEO Tim Cook sold close to 240,000 shares for approximately $140 million. Also selling shares were CFO Peter Oppenheimer, who cashed in 150,000 shares for about $90 million, marketing chief Phil Schiller, who sold shares to the tune of $72 million, and hardware chief Bob Mansfield and mobile software head Scott Forstall sold about $33 million worth of stock each.
Exar Makes Sweeping Changes
Semiconductor-maker Exar Corporation (EXAR) continued its restructuring plans in an effort to reduce costs and operating expenses. Overall, in 2012, Fremont, CA-based Exar has eliminated 169 positions in the March quarter, representing 40 percent of the company’s global headcount for an annual savings of $21 million.
“In support of our goal to achieve consistent profitable growth we continue to align and scale our workforce with our market, product and financial plans. We have taken meaningful action today that is comprehensive and includes adjustments in all functional areas of our company and regions of the world,” said President and CEO Louis DiNardo. ” …the total impact of our restructuring actions in the March quarter represent a significant reduction in headcount and spending while fostering focus on new product development and growth. We believe that our remaining headcount of approximately 270 people is adequate and appropriate to support our needs in sales, marketing, product development, finance, human resources and other functional disciplines while we drive growth in our target markets. “
The company also reaffirmed its full-year guidance for 2012. Shares in the company fell 2.04 percent on Wednesday.
Chron 200 Recap: Top Movers
The Chron 200 managed to once again managed to buck the trend of otherwise down markets Wednesday, holding even with just a 0.04 percent gain as the Dow Jones, S&P 500, and Nasdaq all lost approximately a half percent.
Rigel Pharmaceuticals (RIGL) did its best imitation of a yo-yo Wednesday. After losing 4.52 percent off its share price Tuesday to make it the day’s biggest loser, the company jumped 4.11 percent Wednesday to make it the day’s biggest gainer. The company announced in early January that two of its leading products had entered clinical trials at the end of last year. Also making significant gains Wednesday were Equinix (EQIX), which provides data-centers and internet exchanges for businesses, which gained 2.76 percent, and visual computing company NVIDIA Coproration (NVDA), which was up 2.29 percent.
The day’s biggest loser came in SYNNEX Corporation (SNX), which fell off a cliff in after hours trading after market close Tuesday. The company’s earnings report showed a slight contraction in revenues and issued lower-than-expected guidance for the next quarter, and the shares took a beating Wednesday to the tune of a 12.51 percent decline. Also losing ground was mini-cap communications company Dialogic (DLGC) which fell 8.85 percent, and networking vendor Aruba Networks (ARUN) fell 5.27 percent.


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In the survey, respondents were asked about what resources were most needed to encourage entrepreneurship, what programmes they had participated in to improve their businesses, and what were the biggest challenges facing new businesses.
According to a release issued in Accra, 44 per cent of respondents participated in a programme or activity in the past year aimed at improving their business.
“Of these open-ended responses, several key categories were identified, including business development and management training or courses, agricultural activities, entrepreneurship programmes, and financial training”, it said.
The released said when asked what would most help increase the number of entrepreneurs in their country, 36 per cent said “more financial resources”, 24 per cent - “better facilities/services” while 23 per cent opted for “government support”.
It said there was a strong desire for more training resources, with training programmes and entrepreneurship courses in school being the most popular responses to a question on how government could help people start businesses.
The survey also found social media to be the most popular online tool for supporting business growth.
The President of the Global Entrepreneurship Network, Mr Jonathan Ortmans, said “As policymakers explore smart and sophisticated steps to develop healthy entrepreneurial ecosystems across the African continent, the voice of the entrepreneur must remain in the foreground,” adding that “Being able to hear directly from entrepreneurs help guide our conversations at the Summit and beyond.”


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TCS has loaded up half a million peeps as it expects many to move on
- The IT services giant reported 3.9% quarterly increase in revenue in April-June.
- TCS has declared a dividend of ₹7 a share.
- The company gave jobs to 20,409 fresh talent, which is the highest ever quarterly addition.
The company posted a revenue growth of 3.9% to ₹45,000 crore in June quarter, slightly lower than some analysts’ estimates. The company’s profit for the quarter stood at ₹9,031 crore, marginally lower than the previous quarter’s profit of ₹9,282 crore.
"Our attrition rate 8% is in a way artificial because of... primarily because of pandemic, and that number normally what we are at is about 11-12% is normally which we operate at and even if you look at the past quarters ... in high demand situations actually we go even up to 13-14%. so i think the point is you know that the attrition is definitely going to... going up and there is a (sic) uptick we are seeing there, but it is very much part of our operating model..." said Milind Lakkad, Global Head of Human Resources.
AdvertisementThis is not a unique problem to TCS as even Wipro has been prepping up for a similar situation as there is a huge boom in tech services, but not enough talent to meet the demand.
Further, net income of the company showed good upside trajectory as it grew 28.5% year on year to ₹9,008 crore for the quarter ended June.
Moreover, the order book of the company strengthened by 17.3% year on year to $8.1 billion.
|Revenue||₹45,000 crore||3.9% up from previous quarter, 18.5% on year|
|Net income||₹9,008 crore||28.5% on year growth|
|Order book||₹60,563 crore||17% growth on year|
|New hires||20,409||Highest quarterly net head count|
Besides, all verticals have shown good sequential growth with life science and healthcare showing over 7% growth on quarter.
|Vertical||Growth quarter on quarter|
|Life sciences and healthcare||7.30%|
|Technology and services||5%|
|Communication and media||1.70%|
The growth was led by North America (4.1%), UK (3.6%), Continental Europe (1.5%), Latin America (4%) and Middle East & Africa (4.2%) The pandemic’s second wave impacted sequential growth in India (-14.1%) and Asia Pacific (2.4%).
AdvertisementThe second wave of COVID-19 pandemic hit TCS hard in its India business. While the growth is still strong, it may not be as good as what the market had expected, according to analysts at Emkay Global who cut the revenue growth estimate for the company for the next two financial years. This could weigh the stock down too, they added.
SEE ALSO: Live teaching platform Teachmint app raises fresh funding of $20 million (businessinsider.in)
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Energizer widens restructuring project
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On the heels of sluggish earnings, Energizer Holdings revealed new details in a regulatory filing Thursday about the expansion of its previously-announced restructuring plan in an effort to see $300 million in total savings, up from $225 million.
Company officials announced the expansion in Energizer’s quarterly earnings report Wednesday.
The expanded scope of the restructuring will cost $100 million to $130 million in fiscal 2014, Energizer disclosed in Thursday’s filing. To date, the Town & Country-based consumer products company has spent $185 million on the restructuring, eliminating some 1,500 total jobs. In the first quarter of fiscal 2014, it reported $46 million savings related to the restructuring, up from $39 million in the prior-year period.
According to the filing, the board authorized an expansion of the plan Jan. 27.
Future costs associated with the restructuring include:
- $15 million to $30 million related to plant closures;
- $35 million to $45 million related to severance and benefits;
- $35 million to $45 million for consultants; and
- $30 million to $40 million related to “other restructuring relates costs.”
Energizer also expects $10 million to $15 million in costs associated with IT, along with a $20 million to $30 million IT capital expenditure, the filing stated.
Energizer officials declined to say how many jobs would be impacted by the expanded scope of the project, which has already reduced 1,500 jobs. In February 2013, the company laid off 290 employees at a plant in Maryville, Mo., as part of the restructuring.
Today, Energizer employs about 13,000, including 350 to 400 in St. Louis.
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Apple acquires artificial intelligence firm Lattice Data for $200 million
The US-based technology firm Apple has acquired Lattice Data, a specialist in turning unstructured "dark data" such as text and images into structured data, for nearly $200 million.
US tech giant Apple has acquired Lattice Data, a specialist in turning unstructured "dark data" such as text and images into structured data, for nearly $200 million, the media reported on Saturday.
Lattice applies an artificial intelligence (AI) enabled inference engine to take unstructured, dark data and turn it into structured (and more usable) information.
"Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans," TechCrunch quoted a company spokesperson as saying.
The deal was closed a couple of weeks ago and nearly 20 Lattice engineers have joined Apple.
Lattice was founded in 2015 as the commercialisation of DeepDive, a system created at Stanford to "extract value from dark data".
It is unclear who Lattice has been working with, or how Apple would intend to use the technology that can be used for AI, medical research, and more, the report noted.
However, according to a source, Lattice had been "talking to other tech companies about enhancing their AI assistants," including Amazon`s Alexa and Samsung`s Bixby, and had recently spent time in South Korea.
Recently, Apple acquired Beddit -- an app and sleep system -- designed to monitor daily sleep habits through the iPhone.
Earlier this year, Apple acquired "Workflow", a popular iOS tool that allows users combine the functionalities of various apps together to automate normally complex processes.
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The Consumer Financial Protection Bureau (CFPB) proposed new regulations Thursday to crack down on the payday lending industry.
Payday lending provides short-term access to credit, but usually comes with high interest rates, often in the triple digits, and expensive fees.
"The consumer bureau is proposing strong protections aimed at ending payday debt traps," CFPB Director Richard Cordray said in a news release. "Too many borrowers seeking a short-term cash fix are saddled with loans they cannot afford and sink into long-term debt. It's much like getting into a taxi just to ride across town and finding yourself stuck in a ruinously expensive cross-country journey. By putting in place mainstream, common-sense lending standards, our proposal would prevent lenders from succeeding by setting up borrowers to fail."
A small group of health advocates, dog owners and Walgreens customers in Chicago called on the nation’s largest pharmacy chain to remove products that, they say, contain harmful chemicals from its shelves.
"Many major retailers in the Chicago area such as Target, Bed Bath & (Beyond), even Walmart have taken direct action to begin to remove some of the worst toxic chemicals from their products, and unfortunately, Walgreens, the flagship of Illinois, has refused to make a commitment to take action on these products," said Lynda DeLaforgue, co-director of Citizen Action/Illinois, which organized the Wednesday morning protest outside of the new Walgreens store at 410 N. Michigan Ave. in the Wrigley Building.


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As we reported previously, TSMC already announced it's moving to nanosheet GAAFET transistors at 2nm. But the company has also said it will be including backside power rails in a future version of N2, according to Anandtech(Opens in a new window). The benefit of backside power delivery is increased performance with reduced power consumption. It achieves this by not requiring power to be routed through the front side of the wafer. The company revealed these plans at the European leg of its technology symposium.
TSMC didn't expand on its decision, but it seems it doesn't want to add more complications to its move to GAA transistors. It can't be overstated how big of a leap this is for TSMC, and its competitors. All of these companies have been using FinFET since 2011, so it's a monumental shift for the industry as a whole. One could reasonably argue it makes sense to take these types of shifts one step at a time. Intel will be taking a similar approach with its N4 to N3 transition.TSMC's roadmap to N2. (Image: TSMC)
TSMC is claiming its first N2 node with nanosheets will offer a 10-15 performance boost over N3E. Note that N3 is a FinFET-based architecture. It will be able to offer that performance boost using 25-30 percent less power also. Chip density will also go up a modest 1.1X, and TSMC plans for it to arrive sometime in 2025. It will appear alongside the final version of its FinFlex-based N3X node.
Where things get interesting is when you compare this roadmap to Intel's. CEO Pat Gelsinger's "five nodes in four years" strategy has the company moving to GAA transistors in late 2024. And it plans to introduce both RibbonFET (nanowires) and PowerVIA at the same time. Given Intel's track record with moving to new nodes, nobody knows if Intel will accomplish this. However, at this stage of the game with Alder Lake achieving what it set out to do, nobody is counting Intel out either. To underscore this point, Intel recently announced its second-generation RibbonFET design dubbed 18A is already six months ahead of schedule. This moved it from a 2025 delivery date to late 2024.
The other company to watch here is Samsung, which is reportedly moving to a 3nm GAA architecture any day now. The company has already been at work on its transition from FinFET for several years now, as it revealed its 3nm plans in 2019. It's going with a nanosheet design called MBCFET, which stands for Multi-Bridge Channel Field Effect Transistor. Although Samsung will likely be the first of the big foundries to enter 3nm production, it's doubtful it's keeping Intel and TSMC executives up at night.
The company is alleged to be getting poor yields with its GAA design, but that's common for such a large technology shift. Still, it doesn't have the big-name clients like TSMC, nor does it have the CPU engineering pedigree Intel has. It's also not always best to be first in a race like this. Not everyone wants to be the first customer to try out a totally new technology. A lot of customers might prefer to wait a bit to see the performance of the initial products. It's similar to how we usually wait to install Windows Updates.
Regardless, it'll be interesting to see where the chips fall come 2024 or so when these industry titans go head-to-head with their respective GAA designs. Intel has said all along it wants to reclaim the title of "unquestioned leadership" from TSMC; a mantle it lost while it was stalled at 14nm for all those years. If the current roadmaps are fully realized, it will certainly have a leg up on TSMC when it comes to GAA transistors. That will be a huge win for Intel, but it certainly doesn't guarantee success either, as TSMC has gained an impeccable reputation for its leadership in chip design over the past several years.
In order to change the world's mind about which company is better -- Intel or TSMC -- Intel will need to dominate like it used to back in the days of Conroe. Whether or not TSMC's strategy will hold up to Intel's aggressive plans is anyone's bet at this point. One thing is certain though; it'll be interesting to see it all unfold.Now Read:


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President Barack Obama brought along a number of tech companies on his historic trip to Cuba this week, and PayPal was among them. In a recent blog post, PayPal president Dan Schulman wrote that PayPal’s global money transferring service Xoom will hopefully launch in Cuba by the end of the year.
President Obama’s visit to Cuba, the first for a sitting president since Calvin Coolidge in 1928, is the result of the United States re-establishing diplomatic relations with Cuba last July.
While in Cuba, Schulman and executives from companies such as Priceline, Stripe, and Google’s parent company Alphabet met with Cuban entrepreneurs. Schulman attests the billions of dollars Cuba receives annually from remittances will be Xoom’s entry into the country. Remittances are money sent for goods, services or gifts, the basis of money transferring services such as PayPal’s Venmo and Western Union. Each year, Cuba receives $2 billion in remittances from the United States.
Xoom allows people to send money to one another across the world and have it directly deposited into the recipient’s bank account. PayPal completed its acquisition of Xoom in November 2015 and Schulman described launching Xoom in Cuba as a “natural first step” in the blog post. “Introducing these money transfer services will not only foster financial inclusion,” Schulman wrote “but they can have a positive impact on the day to day quality of life — eliminating long lines and fostering greater choice in this community.”
You have to crawl before you walk, though. In an interview with Bloomberg, Schulman admitted that while trade between the U.S. and Cuba is being discussed, it still has a ways to go. “Both the U.S. government and Cuban government are still establishing the guidelines for exactly how trade is to be conducted.” The U.S. has had an embargo on all trades with Cuba since President Dwight Eisenhower instituted one on October 19, 1960.
PayPal is talking with Cuban authorities and the U.S. Treasury Department to “help expedite” the company’s availability in Cuba. Xoom is currently available in 42 countries around the world.
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Bol.com platform acquires Dutch cargobike network Fietskoeriers. This is a significant step forward to more sustainable deliveries and offers good opportunities for expanding the local-for-local ambitions of Bol and its plaza partners.
Ahold Delhaize announces today that bol.com, its online retailer in the Benelux, enters into a strategic alliance with delivery expert Cycloon. The parties intend to jointly accelerate the growth of Cycloon and share the ambition to make delivery more sustainable and social.
Accelerate sustainable and flexible delivery
With the growth of the e-commerce and related logistics sector, challenges are increasing in delivery capacity and impact on the environment and infrastructure. The partnership with bol.com allows Cycloon to substantially accelerate its green and social delivery mission, creating a future-proof position with substantial growth opportunities in a competitive market. For bol.com, the partnership ensures that a larger share of parcels can be delivered by cargo bike and that the online retail platform can offer customers the best service in delivery.
Bol.com has ambitious sustainability goals, and the collaboration with Cycloon contributes substantially to this. Vincent Weijers, Director of Logistics & Operations (COO) at bol.com: “We are huge believers in Cycloon’s sustainable and social mission. At the same time, it is a unique opportunity for bol.com and its sales partners to accelerate the sustainability of our growing parcel delivery business and expand our delivery capacity. Next to that, we can further improve the convenience and service for our customers with flexible and smart delivery. Moving towards a sustainable and socially responsible last mile is crucial for the future of e-commerce, and we will continue to work with all our delivery partners to make this happen. With a majority stake in Cycloon, we are taking another step towards our stated ambition of reducing our direct footprint to 0 grams of CO2 emissions per parcel by 2025.”
Green and social
Cycloon sends mail and parcels to thousands of customers throughout the Netherlands with its national network of bicycle couriers and postal delivery staff. The company currently employs 600 people with a physical, mental, or psychological distance to the labor market who receive additional guidance from a job coach. Management and shareholders remain fully committed to Cycloon’s social culture and sustainable mission to grow the organization and create new jobs. Cycloon looks forward to continuing the delivery of mail and parcels for current and new customers and delivering parcels for bol.com after the completion of the transaction. This will include parcels from bol.com itself and parcels from sales partners who store their items in the distribution centers of bol.com.
Marieke Snoek, Managing Director Cycloon: “The partnership with bol.com allows us to make an impact on a much larger scale. We will continue to invest in our people, network, and partners, enabling us to improve and further expand the services we provide to our current and new customers. In doing so, we discussed at length the principles we stand for and continue to stand for as organizations.”
Ahold Delhaize strategy
Wouter Kolk, CEO Ahold Delhaize Europe & Indonesia, said, “I am proud of the strategic partnership we have accomplished together. It gives both organizations the opportunity to grow in a sustainable way. Investing in and improving the so-called ‘last mile’ of the delivery of online orders and making it more sustainable sits high on the agenda of both organizations. Working with Cycloon can contribute to having bol.com customers shop, however, whenever and wherever they would like.”
Bol.com has had parcels delivered in the Netherlands by parcel delivery companies such as PostNL and DHL. In addition, other web stores already have their own delivery service, such as electronics web store Coolblue and food delivery service Picnic.
Amazon has been building its own delivery network for some time. Zalando is also increasingly taking control of its own delivery. Traditional parcel delivery companies are having a hard time. They are losing market share, rates are not rising, and stock prices are down. This step of Bol.com shakes up the market in any case.
Investors in PostNL did not find this exciting news; the stock price rose 1.5 percent today. Still, the old delivery partners could lose 20 to 40 million shipments….
Walther Ploos van Amstel