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Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday raised capital spending by 53 percent for the year after posting its strongest quarterly earnings in nine months, aided by better-than-expected demand.
The unexpected announcement comes at a time when the economic outlook remains unclear.
During the quarter ending June 30, TSMC earned NT$24.44 billion (US$744 million), down 15 percent from NT$28.77 billion in the second quarter of last year, before global economic turmoil curtailed electronics demand.
On a quarterly basis, the figure was almost 16 times TSMC’s earnings of NT$1.56 billion in the first quarter.
Demand for its chips has improved significantly, with customers launching new products and restocking inventory, TSMC said in a statement, adding that the rebound in end-demand had affected a wide variety of electronics.
Predicting robust demand in certain economies, TSMC yesterday said it would spend US$2.3 billion on new equipment this year, up 53 percent from its previous estimate of US$1.5 billion and 22 percent from the US$1.89 billion it spent last year.
“The semiconductor industry has changed ... In the last nine months, we have under-estimated semiconductor and foundry industries,” TSMC chairman and chief executive Morris Chang (張忠謀) said yesterday at his first investor conference since he resumed the position of CEO last month.
Though the global economy may recover slowly, areas where penetration of electronic equipment is low could fuel industry growth, Chang said.
“The increase in capital spending reflects TSMC’s bullish outlook on industry recovery,” said Rick Hsu (徐稦成), an industry analyst at Nomura Securities Co Ltd (野村證券).
The increase could help the company meet demand for new products, including handset chips, as early as next year and computer processing units later on, Hsu said.
This year, overall semiconductor industry revenues are expected to fall 17 percent year-on-year, compared with an estimate of 20 percent contraction three months ago.
The foundry, or contract chip manufacturing, industry may only slightly underperform the overall semiconductor industry at minus 19 percent or 20 percent growth.
But next year the foundry industry may outperform the overall semiconductor industry, which is expected to grow 5 percent or 6 percent, Chang said.
TSMC said revenues could rise 20 percent this quarter to NT$90 billion from NT$74.2 billion in the second quarter, citing the gradual inventory buildup ahead of the typically strong third quarter.
“The growth has far exceeded my forecast,” said Kenneth Lee (李克揚), head of research at Fubon Securities Investment Services Co, Ltd (富邦投顧). Lee projected 5 percent growth.
TSMC’s growth forecast reflected its optimism for the semiconductor industry this year.
“Now I am much more upbeat — not only about the third quarter but also the fourth quarter — than three months or six months ago,” Chang said.
He said third-quarter demand would be close to the seasonal average of 9 percent quarterly growth in terms of shipments.
Credit Suisse analyst Randy Abrams said TSMC’s capacity boost indicated the company “is slanting more aggressively on capital spending to keep other foundries from picking off second source business.”
Shares of TSMC fell 0.88 percent to NT$56 yesterday, compared with a 0.8 percent decline on the benchmark TAIEX.


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- Richard Davidson
- The original Mr. Dunderbak’s in McCain Mall
Today is Mr. Dunderbak’s soft opening, and this weekend marks the grand opening of the McCain Mall stalwart.
After retiring from the Air Force in 1973, Richard Davidson decided to open a restaurant in the style of the European sausage shops he’d frequented overseas. He named his shop after the German legend of Dunderbak the Butcher, who puts all the naughty boys and girls into the sausage machine — right up until the day that his wife puts Dunderbak in the sausage machine. If you make it out to Mr. Dunderbak’s this weekend, the legend will be expounded in song, courtesy of a live polka band.
In it’s first incarnation, Mr. Dunderbak’s was well-loved for it’s sausages, soft pretzels and cheese spreads. Davidson, 79, sold the restaurant in 1990, because he wanted to retire to Hot Springs Village and play golf. A decade later, the new owners closed shop, and everyone assumed that was the end of Mr. Dunderbak’s. But in March 2009, North Little Rock native Scott Kauffman began a Facebook page for people who miss Mr. Dunderbak’s. That page and its nearly 2,000 friends was the catalyst Davidson needed. His daughter, Laura Stanley, a UAMS researcher, begin to pressure him to reopen Mr. Dunderbak’s.
But Stanley is vegetarian, so per her revisions, the new Mr. Dunderbak’s, in addition to the cheese, pretzels and sausages for which it’s known, will feature an astounding number of veggie and vegan options, including four veggie sausage sandwiches and an entire deli with all-veg sandwich “meat.” Sausage buns will be custom-made by Little Rock’s Silvek’s European Bakery, with a gluten-free option from Dempsey Bakery.
Other additions will be a specialty coffee bar which will eventually offer wi-fi and a juice bar stocked with orangeade, limeade and lemonade. There’ll be bottled beer, too.
Early on, there was a huge roadblock, when Davidson and his renovation plans met up with an unsavory contractor, who swindled over $30,000 and left little to show for it. The Attorney General’s office has unsuccessfully tried to locate the contractor, and Davidson nearly second-guessed his plans. “It was very discouraging to lose that amount of money, but interest was increasing on Facebook, and my daughter was still interested,” he said. Ultimately, his daughter plans to run Mr. Dunderbak’s when she retires from UAMS, but that retirement is still years away.

domain: news


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MOT changes are coming 20th of May: here's what you need to know
09 May 2018
/ Lindleys Autocentres
On the 20th of May, new regulations will come into force that will see new categories, from minor to dangerous, applied to vehicles during their MOT tests. This comes after an EU directive aiming to ensure that all cars meet their Roadworthiness Package standards and could potentially affect thousands of drivers across the UK.
Cars, vans, motorbikes and other light passenger vehicles will all be held to these new categories. Meaning that any major or dangerous issues will result in automatic failure.
The changes include:
New items will be checked in your MOT such as; tyre inflation levels, checking brake fluid for contamination, any fluid leakage, brake pad warning lights and missing discs.
Currently, vehicles built before 1960 are exempt from needing an MOT, this will change when the new regulation comes into place. From May 20th any vehicle over 40 years old that has not been altered substantially will be MOT exempt.
Non-roadworthy vehicles can face fines up to £2,500 as well as three points on your license.
To read the full list of changes take a look at our blog post that goes over the MOT changes in 2018, or book your next MOT in Nottingham at Lindleys Autocentres.


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Google is saying modifications to its seek product nowadays, tied in component to the 20th anniversary of the agency. The biggest announcement is that Google is rebranding its news feed — that list of items that appears below the default search bar inside the Google cell app and while you swipe left from the home screen on Android — as “Discover.” It will now be on the Google homepage on all cell browsers; that’s a large shift for the company as it works to better organize facts and help users recognize context. The information turned into unveiled at a press occasion in San Francisco this morning.
Discover will do more to show relevant content material, which might not always be just recent information. It may have topic hyperlinks to dive deeper into content material you see in the feed, and there may be a bit slider at the lower-left nook of every card to allow you to boom or decrease the amount of news you’ll see on your feed. (At the instant, maximum of the feed is customized, and it’ll prioritize leisure and different information gadgets based totally on your interactions with it.) Discover may even assist multilingual items so that you can get both English and Spanish gadgets in your feed. More languages are coming soon. Many of these additions feel stimulated with the aid of the redesigned Google News app, which changed into first unveiled again at the agency’s I/O developer convention.
Google is likewise using pc vision to feature greater visuals to look. It has a new layout referred to as “Stories” based totally on its AMP standard. Google says that it’s “doubling down” on Stories in seeking, which probably means we’ll be seeing extra of the “inside the coming months.” Stories will also appear inline in search, as well as “featured motion pictures” with a purpose to display “salient segments” from films. It creates an automobile-advancing carousel of videos, showing simply the relevant section of each video.
Google Images is likewise getting a replacement. There’s a brand new rating algorithm for image search. Additionally, it will show greater “net content” inside the seek, which includes specific page records at the search effects web page. The new UI will come to computers this coming Thursday, September twenty-seventh. Google Stories is likewise getting brought to photo search.
Google Lens is also coming to Google Images. On the cellular internet, you could faucet on a new Lens button to discover what’s in a photo and do a seek at it. You also can crop a particular part of an image to go looking at it. Google’s example becomes a bookshelf that became within the history of an image connected to websites where you may buy it.
Google additionally mentioned search turning into critical “in times of crisis,” referring especially to natural screw-ups. It has had “SOS Alerts” for a yr now, but Google hopes to make the alerts extra “fine-grained” so they are sent to folks who are much more likely to be in danger of flooding, as an example. It makes use of AI to greater correctly are expecting wherein flooding may also simply occur. It’s launching in India to begin.
Google also pointed out its stepped forward activity search product, imparting it in a way that advised that Google ought to assist suffering Americans (whole with a feel-top video montage). The new function is referred to as “Pathways,” and it’s designed to help humans find process education. Google says its “aspiration” is to reveal schooling hyperlinks inner task searches, beginning with a pilot program in Virginia. It’s also partnering with Goodwill for this application.
Additionally, Google is introducing new search-related changes to enhancing getting to know a topic online over the direction of multiple days. Nick Fox, Google’s vice chairman of product at its search division, detailed how it’s going to work by breaking down the changes into three classes: journeys, collections, and subjects.
Google will show paintings to expose the previous searches you’ve made right for your search box with the first characteristic. Fox talked about how Google is attempting to transport from “answers” to “trips.” That sounds very much like widespread Silicon Valley doublespeak, however for Fox, it is the way that users may additionally retain their searches on a topic over several days, and Google desires to help users arrive at an appropriate vacation spot.
“People preserve coming again to the identical subject matter over and over,” he says. Given that, Google will begin surfacing elements of your history proper in search as an “activity card” so one can show you preceding searches. It may also surface a card titled “associated activity,” showing you websites you’ve formerly visited and searches you’ve previously made.
Next is “collections,” so that you can let your bookmark seek consequences right into a special viewer wherein Google will also surface content material hints. (Think of it like Pinterest, however, for Google seek.) It’s coming later this fall.
Lastly, a brand new “topic layer” is introduced to the Knowledge Graph, Google’s database of entities on the internet. The new layer will recognize greater approximately sure topics like astronomy, and it must help users get to extra superior content as they dive deeper into a subject.
Google Feed, which now has 800 million users, has sent 2.Five times extra visitors to publishers over the past year. Google’s same subject matter layer technology is also getting carried out to this news feed. The concept is that it will likely be able to expose articles that may not be recent but will still be relevant to you. (For example, if you’re traveling to a brand new metropolis, Google will display older articles to your feed associated with that metropolis.) The feed can also use this set of rules to expose motion pictures and occasions.
Today’s information arrives as Google has to turn out to be more embroiled in the politics of structures and democracy. It declined to send its CEO to Congress for hearings, resulting in an empty chair getting berated. President Trump has accused the corporation of presenting biased search consequences, too. More interest has been paid to the corporation’s plans to convey a search product back to China, a product that could presumably be censored and potentially make it simpler to hyperlink seek queries to humans’ cellphone numbers. Google even reportedly told its employees to delete a memo associated with the plan.
Very little of that context turned into on show in Google’s presentation today, which focused on the fine alternatively. Ahead of the declaration, Google search leader Ben Gomes laid out some of the records of the way search works and the principles that guide Google’s product improvement. Pointing out Google’s advances in word matching, synonyms, and the Knowledge Graph, Gomes emphasized how Google is continuously trying to improve search’s expertise of what words imply.
Gomes also mentioned “neural matching,” a method that uses documents online to assist in disambiguating vague language. For example, on a look for “TV that looks ordinary,” Google would possibly recognize that, in that context, it’s regarding motion smoothing. This feature, released within the last few months, impacts over 30 percent of queries.
As for the principles of seeking, Gomes said that it’s “centered at the consumer,” strives for “applicable and splendid records,” follows an “algorithmic technique” to rating information, and is heavily tested via customers. But in a gesture to a number of that drama, Gomes brought, “Search is not perfect, and we’re beneath no illusions that it is.”


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A startup focused on bringing hedge fundsters into the retail mutual fund industry just launched the first ETF fully powered by the platform.
This month New York City-based ETF Issuer Solutions (ETFis launched InfraCap MLP ETF
, subadvised by another Big Apple shop, Infrastructure Capital Advisors
. And more ETFis-powered ETFs are coming.
"This is the first fund to hit the marketplace that's utilizing all the parts of our platform," Matt Brown
, CEO and co-founder of ETFis, tells MFWire
, adding that there are 12 more funds from 8 or 9 different managers that ETFis has in registration, in the pipeline.
Brown and two other veterans of the startup ETF issuer world founded ETFis two years ago. The idea, Brown says, is to "consolidate third party services" for alternatives shops looking to reach retail investors through the hot structure of ETFs.
"We were frustrated by barriers to [ETF] startups," Brown says. "We really saw the next wave of ETFs, the active and alternative revolution ... It's absolutely a growth area."
With Kilpatrick Townsend
as legal representation and BNY Mellon
as transfer agent and custodial partner, ETFis maintains its own series trust for ETFs. Brown sees ETFis' offering, with its laser focus on alts shops, as "fairly unique" in the fund servicing marketplace.
"Some other entities will put a manager's name on it," Brown says. "They don't offer as much as we do ... We provide a number of the parts required to build and operate an ETF."
ETFis has a team of six, and Brown says they're adding two or three more people "pretty much momentarily."
Stay ahead of the news ... Sign up for our email alerts now


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Amazingly enough, Valentine's Day is only two weeks away. For a jumpstart on the holiday, The Wine Market is hosting an event called "Libations for Lovers" tomorrow night, which is the inaugural event for Liquid Culture, a local beverage event start-up.
From 6-8 p.m., seasoned bartender Andrew Bernstein will create three cocktails to coincide with the romantic holiday. Guests can enjoy tasting pours of the drinks, as well as a variety of bar snacks. In addition, guests who dine at the restaurant following the event will receive 20 percent off their bill.
Tickets are $25 and there are still some available, according to Liquid Culture founder Chris Stutz. Tickets can be purchased here.
[Image: courtesy of Liquid Culture]


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Consuming a diet rich in high fat food items could cause inflammation of blood vessels, a new study published in the journal American Journal of Physiology reveals.
Researchers from the University of California analyzed the effects of eating fast food breakfast among 61 volunteers, all of whom had varying waistline sizes and triglyceride levels. Each breakfast consisted of an orange juice, two breakfast sandwiches and hash browns.
The researchers found that based on an individual's triglyceride level and waistline size, the size of triglyceride rich lipoprotein (TGRL) varied. The TGRL is responsible for the cause of inflammation in endothelium, which is a thin layer of cells that lines the entire circulatory system.


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The initial public offering of Rakesh Jhunjhunwala backed Metro Brands Ltd will open on 10 December for subscription and close on 14 December. The firm plans to list on exchanges on 22 December.
The IPO comprises a fresh issue of Rs 295 crore and an offer for sale of upto 21.45 million shares by its existing shareholders and promoters. The proceeds from the issue worth Rs 225.37 crore will be used for opening new stores of the company.
The firm is one of the largest Indian footwear-specialty retailers, and among the aspirational Indian brands in the footwear category. As of September 30, 2021, the firm operated 598 Stores across 136 cities spread across 30 states and union territories in India.
The firm retail footwear under its own brands of Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop, which complement our in-house brands.
Axis Capital, Ambit Pvt Ltd, DAM Capital Advisors, Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors are the book lead managers to the issue.
For the September quarter, the firm reported total income of Rs 489.27 crore against Rs 228.05 crore a year ago. Net profit for the quarter stood at Rs 43.09 crore versus a loss of Rs 41.43 crore last year in the same quarter.


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Brean Capital: Consumers Have Become Experts At The Game Of 'Retail Chicken'
Heading in to the holiday shopping season, Liz Pierce of Brean Capital updated investors what to expect with Thanksgiving being less than two weeks away.
"We believe cooler and more seasonal weather as well as lower gas prices have had a positive impact on traffic and conversion as we have seen more shoppers carrying bags over the past two weeks versus what we had seen in October," Piece wrote in a note to clients on Monday. The analyst adds that the best sellers seen so far include sweaters and outerwear.
All of the retailers under Pierce's coverage, with the exception of The Buckle, Inc. (NYSE: BKE) have held some form of promotion event over the past few weeks, including buy-one-get-one free and offering an additional rebate off clearance and regular priced products.
Shoppers are now likely to "take a breather" this week in anticipation of additional promotions already announced for next week. The analyst notes that it is possible that the early promotional hype resulted in a "promotional fatigue" and hopefully retailers have saved their best promotions for Black Friday weekend, which starts on Thursday.
Shoppers have now become accustomed to waiting for compelling sales and have become what Pierce describes as being "experts at the game of retail chicken" which could result in further unplanned promotional activities.
Pierce notes there are two ways to invest in the retail theme ahead of the holidays. The first involves investing in "Best of Breed" names including Urban Outfitters, Inc. (NASDAQ: URBN), Chico's FAS, Inc. (NYSE: CHS) and Zumiez Inc. (NASDAQ: ZUMZ).
Pierce also recommends investing in turnaround names with a revised real estate strategy that is more suitable to the needs of its "targeted, under-served and disenfranchised" client base. The two companies fitting the profile according to the analyst includes Christopher & Banks Corporation (NYSE: CBK) and Destination XL Group Inc (NASDAQ: DXLG).
Latest Ratings for BKE
|May 2016||Wolfe Research||Downgrades||Peer Perform||Underperform|
|Apr 2016||Deutsche Bank||Initiates Coverage on||Sell|
|Mar 2016||Standpoint Research||Downgrades||Buy||Hold|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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BRAZIL: Dedini's judicial recovery plan approved by court
Published: 02/17/2017, 2:50:33 PM
Dedini, which was one of Brazil's largest machinery producers for the sugarcane industry, had its judicial recovery plan approved by a Brazilian court Wednesday, according to Brazil's Agência Estado newswire.
The plan was approved by the company's creditors last year, but still needed approval by judge Marcos Douglas Veloso Balbino da Silva, of the Second Civil Court of Piracicaba, São Paulo state.
Dedini had BRL300 million (US$97.14 million) in debt when its bankrupt recovery process was announced in 2015.
The crisis in the sugarcane sector knocked down Dedini's revenues from BRL2.1 billion (US$680 million) in 2008 to BRL380 million (US$123.04 million) in 2014. Dedini expects to reach operating net revenue of BRL306 million (US$99.08 million) in this first year of compliance with the plan, with small growth expected for 2018 and 2019.
According to the approved recovery plan, Dedini will pay labor creditors in full during 2017. Other creditors will be paid in 11 years, with a 50% discount.
The company will receive BRL21 million (US$6.8 million) for the sale of one of its assets, a parking lot at a shopping mall in Piracicaba. This will allow Dedini to liquidate liabilities of more than half of its labor creditors.


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Open to the public, the four-day 'HermèsFit' pop-up will host fitness classes, cocktails, and live musical performances at the Hollywood Athletic Club.
Occupying Depop's former store, Worklife Studios is a retail-meets-office space where consumers can discover small businesses and founders can connect with local prospects and other founders IRL.
Women-founded Pearline Health is removing barriers to regular dental cleanings with transparent pricing and modern, hassle-free visits.
Opening on July 30th, the pop-up will serve up a dining experience, exclusive merch, and more inspired by memorable moments from the beloved sitcom.
The by-application center has five floors of fitness classes, a boutique spa, juice bar, world-class restaurant, co-working and event space, rooftop with pool, jacuzzi, cabanas, and an outdoor bar boasting panoramic views of the Hollywood Hills.
Stofenmacher's new online jewelry platform offers 50,000 customization options and pieces ranging from $375 to $3,200, which is cheaper than most custom jewelers.
The Venice-based streetwear brand's collection of tees, hats, hoodies, and more spotlights firefighters of L.A.'s Station 11, one of the country's busiest.
The company—which has more than 350 physical stores worldwide and delivers to more than 53 countries and regions—is aiming to widen the appeal of art toys in the U.S. market.
The digital home and design media brand's new loft-style space features a showroom storefront, influencer hospitality suite, and content studio.
The Emmy-winning Amazon Prime Video series starring Rachel Brosnahan is bringing a free two-day event to LA fans this Saturday and Sunday.
The label's dainty gold pieces are made from 95% recycled 14k gold.
Fans can hang with the TikTok sisters tonight (and enjoy makeup touch-ups and more) at the shop's grand opening party.


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This week's releases see a varied combination of titles, with shooters, racing simulators, and puzzle games thrown in the mix. Will you fight alongside Tier 1 soldiers, coast through a country town, or ponder through some puzzles?
Electronic Arts' modern-day first-person shooter Medal of Honor: Warfighter is the latest instalment in the series. The game follows a group of Tier 1 operators as they take the fight to terrorists around the world, in locations like the Philippines and Somalia.
EA earlier announced the Medal of Honor Warfighter Limited Edition, which gamers can receive through preordering the game. Those who preorder will be able to download the US Navy SEAL Tier 1 Sniper, an unlock that would otherwise require about 40 hours of gameplay. The download will be available upon the game's launch.
The publisher also revealed that the game would include a DLC multiplayer map pack, based on locations from the upcoming film Zero Dark Thirty, which details the hunt for Osama bin Laden.
If you would much rather cruise through some scenic locations in a sweet ride, racing simulator Forza Horizon is due out this week for the Xbox 360. The title is a spin-off of Turn 10's racing game franchise and is developed by United Kingdom-based startup Playground Games. The game focuses on a pick-up and play racing experience, with a festival atmosphere and an open road.
Turn 10's creative director had reportedly commented in the past that the Forza series took inspiration from the Pokemon games. Publisher Microsoft also announced the Forza Horizon Season pass, granting access to DLCs including the game's expansion and six car packs.
Other titles out this week include Professor Layton and the Miracle Mask, RollerCoaster Tycoon 3D, and Street Fighter X Tekken for the Vita. Check out the full list of new releases below.
October 23, 2012
Forza Horizon (360)
October 27, 2012
Professor Layton and the Miracle Mask (3DS)


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Google debuts new augmented-reality glasses
Google Glass, the venerable search company’s newest innovation, is probably the coolest thing ever. Remember those glasses from I Am Legend that recorded video directly from Will Smith’s point of view? Well, those are a reality now. Google Glass, a new high-tech pair of glasses developed by Google, act as a reality augmentation device. Basically, this means that Google has developed the world’s first “smart glasses”.
There’s a small camera that can take photos and videos via voice command, it’s loaded with Google Translate (just ask it to say something in a different language and Google Glass complies), it can display – IN YOUR VISION – a realtime clock, weather apps, videochat, Google web and image search, even Google Maps, all from your eyesight. It just floats there in the upper-right hand corner of your vision. The world is your screen.
As of now, the only way to get your hands on a Google Glass is to impress Google with a tweet branded with the #ifihadglass hashtag, followed by an explanation of what you would do with Google Glass in under 50 characters. Seem tough? Even if Google selects your tweet as impressive enough, Google Glass will still set you back $1,500, and you can only pick up a pair at Google’s offices in Los Angeles, San Francisco, or New York. So get tweeting.
Check out the official video depicting the many uses of Google Glass and try not to be like “wow”:
<iframe allowfullscreen=”” frameborder=”0″ height=”315″ src=”http://www.youtube.com/embed/v1uyQZNg2vE” width=”560″></iframe>


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Alex and Ani, Anastasia Beverly Hills, Anastasia Soare, beauty, Carolyn Rafaelian, cosmetics, Donna Karan, Doris Fisher, fashion, Fenty, Fenty Beauty, Forbes, Forever 21, Gap, Huda Beauty, Huda Kuttan, Jin Sook Chang, Karissa Bodnar, Kathy Fields, Katie Rodan, Kendra Scott, Kim Kardashian, Kim Kardashian West, Kylie Cosmetics, Kylie Jenner, makeup, Patricia Miller, Proactiv, Rihanna, Sara Blakely, Spanx, Thrive Causemetics, Toni Ko, Tory Burch, Vera Bradley, Vera Wang
June 4, 2019
by Yvette Thomas
Forbes has published its 2019 list of America’s Richest Self-Made Women, and what’s notable about this year’s list of 80 women is that several of the new entries on the newly expanded list are entrepreneurs from the fashion and beauty industries: Rihanna, Patricia Miller, Toni Ko and Karissa Bodnar. The women eligible to be on the list are U.S. citizens or U.S. residents who founded a company that is headquartered in the United States. All net-worth figures are estimated by Forbes, as of June 3, 2019.
Here’s a summary of the moguls from the fashion and beauty industries who made it onto the list:
The Billionaire Moguls
Doris Fisher, co-founder of Gap Inc., is ranked at No. 8 (same as in 2018), and has an estimated net worth of $2.7 billion, down from $2.8 billion in 2018. Gap Inc. is the parent company of such fashion retailers as Gap, Old Navy, Banana Republic, Intermix, Weddington Way and Athleta. Although Gap Inc. has been hit hard in recent months with closures of many of its stores, don’t expect Fisher to lose her billionaire status anytime soon.
Tied at No. 14, with an estimated worth of $1.5 billion each, are Forever 21 co-founder Jin Sook Chang and Proactiv co-founders Kathy Fields and Katie Rodan. Chang, Fields and Rodan have the same rankings and net worths as they did in 2018. Forever 21 has successfully extended its youth-oriented fashion brand with the launch of lower-priced retailer F21 Red and the beauty retailer Riley Rose. Proactiv’s winning subscription-based business model, boosted by celebrity endorsements of the company’s skin-care products, has made Proactiv the leading mail-order service for non-prescription acne treatment.
Anastasia Soare, who built a cosmetics empire with her Anastasia Beverly Hills brand, holds on to her No. 21 ranking on the list, but her net worth increased from $1 billion in 2018 to $1.2 billion in 2019. Spanx founder Sara Blakely is No. 23 (down from No. 21 in 2018) on the list, with an estimated net worth of $1 billion (same as in 2018), thanks to her patented invention that changed the way undergarments can shape a body. Kylie Cosmetics founder Kylie Jenner has now entered billionaire status: She’s tied at No. 23, with an estimated net worth of $1 billion. Jenner was No. 27 on the list in 2018, with an estimated net worth of $900 million. With the help of mother/manager Kris Jenner, Kylie Jenner parlayed her reality TV fame and social-media savvy into the Kylie Cosmetics company, which was founded in 2016. At 21 years old, Kylie Jenner is the youngest person on the entire list.
The Veteran Millionaire Moguls
Most of the women on the list have companies that are more than 10 years old. Some have literally made their fortunes by their names, since their names are the same as their companies. They include fashion designer Tory Burch (No. 29 on the list, with an estimated net worth of $850 million, up from $800 million in 2018, where she was also ranked at No. 29); jewelry designer Kendra Scott (No. 40, net worth of $550 million; up from $500 million in 2018, where she was also ranked at No. 40); fashion designer Vera Wang (No. 45, net worth of $460 million); and fashion designer Donna Karan (No. 49, net worth of $430 million).
Alex & Ani founder Carolyn Rafaelian (who has a majority stake in the accessories company) took a steep tumble down the list. In 2018, she was ranked at No. 21, with an estimated net worth of $1 billion. In 2019, Rafaelian is No. 52 on the list, with an estimated net worth of $520 million. Wang’s fortune also took a hit: In 2018, she was at No. 34 on the list, with a net worth of $630 million. Also sliding down the list was Karan: In 2018, she was No. 43 on the list, with a net worth of $470 million.
Paisley designs have off well for Vera Bradley co-founder Patricia Miller (No. 69, net worth of $300 million), who retired from the accessories company in 2012, but still rakes in a fortune as a significant stakeholder. NYX Cosmetics founder Toni Ko (No. 75, net worth of $270 million) sold the company to L’Oréal for $500 million in 2014. In 2016, she launched sunglasses company Thomas James LA. She is also a venture capitalist; her Butter Ventures company invests primarily in female-owned businesses.
The Upstart Millionaire Moguls
Fashion and beauty moguls on the list who have companies that are less than 10 years old owe most of their marketing success to TV and social media.
Rihanna (No. 37, net worth of $600 million) is best known as a Grammy-winning superstar singer, but she’s made much of her fortune through the beauty and fashion industries. Her inclusive cosmetics company Fenty Beauty (launched in 2017) was an immediate hit. She’s also partnered with Puma for a Fenty brand of shoes. In 2019, Rihanna made fashion history by joining forces with fashion giant LVMH (parent company of Louis Vuitton, among numerous other brands) to create her own fashion brand called Fenty. With this partnership deal, Rihanna became the first woman to create an original brand at LVMH and the first woman of color at the top of an LVMH house.
Huda Kuttan (No. 36, net worth of $610 million), who started off as a makeup artist, became a beauty blogger in 2010, and then used that Internet notoriety to launch the Huda Beauty cosmetics company, which she co-founded with her sisters in 2013. Kuttan’s fortunes have increased every year since then. On 2018, she was No. 37 on the Forbes list, with a net worth of $550 million. She is also the star of a Facebook Watch reality show titled “Huda Boss,” which debuted in June 2018, and has been renewed for a second season.
Jamie Kern Lima (No. 47, net worth of $440 million) used to be a TV reporter, but transitioned into the beauty industry by founding It Cosmetics in 2010, when she first began selling the company’s products on QVC. In 2016, she sold the company to L’Oréal for $1.2 billion, while still retaining leadership of It Cosmetics, making her the first female CEO of a L’Oréal-owned company. Kern Lima’s net worth remains the same from 2018, although she was ranked higher on the list (at No. 44) in 2018.
Kylie Jenner’s half-sister and “Keeping Up With the Kardashians” co-star Kim Kardashian West (No. 57, net worth of $370 million) has made most of her fortune from reality TV and licensing her name to video games, but Kardashian West’s fashion/beauty ventures (including KKW Beauty, the cosmetics line that Kardashian West launched in 2017) have contributed significantly to her wealth. Although Kardshian West is ranked lower on the list in 2019 (she was No. 54 in 2018), her net worth has increased from $350 million in 2018.
In 2013, makeup artist Karissa Bodnar (No. 74, net worth of $275 million) left her corporate job at L’Oréal and made the leap into entrepreneurship by launching Thrive Causemetics, “a direct-to-consumer makeup brand that sells products that are vegan, cruelty-free and without parabens, latex and sulfates,” according to Forbes. Instagram has been a key factor in Thrive Causemetics’ success.


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President Joe Biden says he’s created more jobs than any previous administration, but most Americans still don’t think the job market is improving.
Most Recent Releases
More than one-in-five Americans say they or someone they know has seen an unidentified flying object (UFO), and a majority think the government may be covering up the truth about UFOs.
Perhaps boosted by lower gasoline costs, more Americans this year say they’re planning a vacation this summer.
June is LGBTQ “Pride” month, which has made the popular Target discount store chain a focus of controversy this year, and almost half of regular Target shoppers believe corporations go overboard in celebrating Pride month.
As the nation celebrates a day honoring its military heroes, the importance of Memorial Day is rated higher than ever.
With high school graduation season upon us, most Americans doubt that new graduates are prepared either to enter the job market or succeed in college.
The political influence of social media has grown in recent years, especially voters under 40.
With Mother’s Day this Sunday, more Americans believe being a mom is an important job.
Most Americans have a positive opinion of Amazon, and the online retail giant gets the highest ratings from customers who use the service most frequently.
Most gun owners say they feel safer with a firearm in the house, and don’t think the government can be trusted to enforce gun control laws fairly.
With college graduation season approaching, a majority of Americans think new grads will have trouble finding jobs.
Sites like Facebook and Twitter aren’t safe for minors, according to a majority of Americans, who have become more comfortable with social media platforms censoring offensive material.
In the aftermath of an uproar over Anheuser-Busch’s use of transgender model Dylan Mulvaney to promote Bud Light beer, a majority of Americans favor boycotting the brand.
Most American homeowners remain confident in the resale value of their homes.
Religious faith is important to most Americans, but they worry that traditional beliefs are getting watered down.
Major League Baseball (MLB) begins its 2023 season today, and more fans expect to watch “America’s pastime” this year.
While some fans say Disney’s takeover of the “Star Wars” and Marvel comics film franchises have made those movies worse, most Americans don’t agree.
This year’s celebration of St. Patrick’s Day may be extra festive, as more Americans say they’ll have a drink for the holiday.
An increasing number of Americans believe the U.S. economy is fair to women, and most see careers and family life as equally important for women.
Teaching traditional values remains important, according to an overwhelming majority of Americans, but less than half think public schools do a good job at it.


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The season of giving is well underway as toy drives, angel trees and gift collections provide many opportunities to help local children and their families this Christmas.
For more than 30 children in Maysville, Christmas arrived a little early last week as the town’s police department conducted its annual bicycle giveaway.
"All thanks to sponsors and everyone that donated a bike, we were able to give away 31 bikes to boys and girls who signed up," said Town Manager Schumata Brown.
The town also has an angel tree so area residents can come by to sponsor a child in need.
With Christmas fast-approaching, deadlines are nearing for those wanting to make donations, sponsor a family or who are seeking assistance.
The collection of toys and food for children and their families is in full swing for Onslow Christmas Cheer and will continue through Dec. 21 at the Christmas Cheer site at 1210 Hargett St. in Jacksonville.
Emergency and late applications for assistance will be taken from 1 p.m. to 7 p.m. Friday, Dec. 13, at the center for families who have not already applied. Applicants should bring a government-issued ID, statement of income and Social Security cards for all in household and a utility bill or official document with current mailing address.
"Based on the quantity of phone calls we’ve received asking about it, we are expecting a large number of applicants," said Onslow Community Outreach Executive Director Theo McClammy.
Gift items for boys and girls ages 10 to 12 are always a need and for food items, there is a particular need for cereal and canned meat.
McClammy said donations of cash and gift cards help Christmas Cheer when they shop to fill the gaps in needed items at distribution time. Distributions start on Dec. 19.
Those coming out to The Daily News meet-and-greet event Saturday from 9:30 to 11:30 a.m. at Zing Zumm Children’s Museum, located at 625 New Bridge St. in Jacksonville, is encouraged to bring an unwrapped toy for Christmas Cheer at that time. The Daily News is also accepting donations at the office, located at 724 Bell Fork Road in Jacksonville.
Anyone wishing to volunteer to help with Christmas Cheer can do so by going to volunteeronslow.org.
The Salvation Army’s Red Kettle campaign is one of its biggest fundraisers of the year and dropping a donation in a kettle while you are out shopping is a good way to help support its programs helping families in the community year-around.
To sign up to be a bell ringer, go to redkettlevolunteer.org.
If you are looking for a way to help a family specifically for Christmas, the Salvation Army also has Angel Trees located at local Walmart store locations in Jacksonville. Anyone who took an angel from a tree is asked to return gifts by Dec. 16.
Toys for Tots
The Toys for Tots program collects new unwrapped toys for children and in 2018 more than 81,000 toys were provided to 10,000 kids throughout Eastern North Carolina.
To find a list of collection locations in your area or to make a donation online, go to camp-lejeune-nc.toysfortots.org.
Reporter Jannette Pippin can be reached at 910-382-2557 or Jannette.Pippin@JDNews.com.


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John D'Adamo new general manager at Hilton Albany (Video)
D’Adamo, a 30-year veteran of the hotel industry, most recently worked as general manager at the 323-room Desmond Hotel & Conference Center in Colonie, a job he left several months ago.
D’Adamo, 50, said he received a phone call a few days after leaving the Desmond asking whether he was interested in taking over the Hilton Albany, formerly the Crowne Plaza.
D’Adamo jumped at the opportunity to be in charge of the biggest hotel in his career at a time when it was switching to the Hilton brand under owners making a significant financial investment.
“To be able to get that call and stay in my backyard was a real blessing,” said D’Adamo, who lives with his wife in Burnt Hills.
D’Adamo started on March 5. Three days later, the hotel was officially designated a Hilton by Hilton Worldwide, an important milestone for marketing and promotion.
Nearly all of the renovations that started a year ago are finished, though some minor work remains that will wrap up by the end of this summer. Among the changes are a brighter, more contemporary feel, from the lobby to guest room furnishings.
DeMasi covers real estate, construction, retail and hospitality.
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Supermodel stunner Jourdan Dunn is hitting out at the race pay gap within the modelling industry.
The 30-year-old beauty – who has fronted campaigns and walked catwalks for brands including Prada and Maybelline – says she has been paid less than white models when working on the same projects.
Jourdan has previously worked alongside fellow Births model Cara Delevingne and American model friend Karlie Kloss but says she received the least pay.
The model is now highlighting the apparent pay gap between herself and her peers – and says she is only now finding the courage to speak out after 15 years in the industry.
Speaking to the TTYA Talks podcast, Jourdan said: “Even for me now it’s just owning your voice and knowing your worth.


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Developer Sells Gables Mixeduse Project
By Claudio Mendonca
Starwood Urban has sold its 260,000-square-foot mixed-used project X Aragon and 55 Miracle Mile.
At the time of its groundbreaking in early 2002, the Coral Gables project was to cost at least $58 million.
The project was completed in spring and is up for sale. In late October, Starwood sold eight other buildings in the Gables for $54 million to Terranova Corp., a South Florida commercial advisory firm.
Early this week Starwood officials would not disclose to whom the X Aragon/55 Miracle Mile property is being sold or the price. "The project is being sold to investors," said Jay Massirman, executive vice president of CB Richard Ellis, a real estate services company.
Spanning from Miracle Mile to Aragon Avenue, the 15-story building is expected to attract upscale restaurants and retailers to its ground floor.
The ground level of 55 Miracle Mile includes 22,000 square feet of space for restaurants, according to the Coral Gables Business Improvement District. Tenants are to include Tarpon Bend, a seafood restaurant slated to open Monday. City Cellar Wine Bar & Grill, a Palm Beach restaurant, is expected to open early next year.
X Aragon houses a Max’s Grill and a Ben & Jerry’s restaurants and a La Cuisine cooking-school facility.
In addition to four stories of retail, restaurant and parking space, the complex has 10 floors of apartments. It also has a European-style path at the ground level linking pedestrians from Miracle Mile to Aragon.
"We believe the addition of new restaurants, exciting new shops, boutique office space and sophisticated apartment residences will make downtown Coral Gables the urban destination of choice in South Florida," said Robert Wennett, president of Urban Investments Advisors, investment manager for Starwood Urban.
X Aragon has 184 luxury rental apartments in addition to ground-floor retail and four levels of parking. The ground floors of X Aragon and 55 Miracle Mile have 39,000 square feet of retail and restaurant space.
About 5,000 square feet of retail space is available, but Kerry Newman, a senior associate at Koniver Stern Realty, handling Starwood’s leasing, said "the company is not selling any space right now."


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Blog: Allied's allies
Chris Brook-Carter | 22 August 2003
For to be honest is seems extraordinary that Allied's shares should have jumped nearly 14p to 395p yesterday on the rumours that Brown-Forman was planning a takeover of its bigger rival. You would think investors would have heard the boy cry wolf enough times over a possible merger/takeover of Allied in the last few years.
Only a matter of months ago it was Bacardi who were linked to the Bristol-based group, now we are led to believe that a Jack Daniel's/Beefeater alliance is only a few signatures away - possibly with the help of Bacardi.
Certainly on the surface a Brown-Forman/Allied alliance is an attractive proposition, so if there is truth in the whispers then the excitement would be understandable.
But analysts believe a bidder is likely to need to pay 450p per share, or US$7.66 billion, for Allied, which seems a bigger bite than Brown-Forman could swallow, particularly as the American is not a pure drinks player, running among other businesses a luggage company.
Here's a round-up of the big stories on just-drinks last week, featuring SABMiller, Orangina Schweppes, PepsiCo and Scottish devolution....
Knowledge is power, or so they claim. So, with that in mind, here's an infographic, courtesy of Australian company Hangover Revivol, that breaks down exactly what is behind the common hangover....
Here's a round-up of the top stories on just-drinks last week, featuring William Grant & Sons, the Southern hemisphere's winemakers, SABMiller and Heineken, and Coke Light....
How many beer mugs can one man carry? ...
- Scottish Independence and Scotch Whisky
- Whisk(e)y leads vodka in US, but for how long?
- Wine in the UK: Tell Us Something We Don't Know
- SABMiller spurned by Heineken: The start of the en
- Comment - Heineken's 'No' Cuts SABMiller Options
- LIVE BLOG: Industry responds to Scotland 'No' vote
- Diageo ups Johnnie Walker Formula One presence
- A-B InBev shakes up Euro units, UK head steps down
- Bacardi lifts curtain on Bombay Sapphire distiller
- Diageo settles Explorers Club trademark dispute


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Penske launches data connection platform
Technology links Penske systems with virtually any truck, engine configuration.
Penske Truck Leasing Co. said today it has launched a data platform that will connect its systems with virtually any truck and engine configuration or telematics service provider.
The Reading, Pa.-based truck rental and leasing giant said it is the first company in its industry to provide what it called "connected fleet solutions" on such a large scale. The device-neutral platform is currently being used to connect more than 20,000 vehicles in Penske's truck-rental and logistics fleets, the company said.
Penske said the enhanced connectivity enables faster roadside-assistance call triage and improved vehicle maintenance through remote diagnostics, location data, and so-called "Big Data" analytics.
In a statement, President and CEO Brian Hard said the platform "makes it easy for customers to connect their vehicles and share their vehicle data with us." Hard said the connectivity will "improve vehicle uptime, safety, and compliance, and help keep customers well-informed about their vehicles."
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The social media giant, TikTok is making its biggest push into e-commerce to date thanks to a new partnership with Shopify that will allow its retailers to begin advertising and selling goods through the platform.
Shopify, which already provides the e-commerce platform for over 800,000 brands, will allow its merchants to connect to a TikTok for Business account and post videos featuring ‘shoppable ads’. This will enable users to click through to a retailer’s Shopify page while scrolling on TikTok, where they can complete a purchase.
The partnership – TikTok’s biggest stride into ecommerce so far – will launch in the US this week, before rolling out across Europe and Asia in the new year. It arrives following the exploration of numerous means in which the social media giant could push into retail outside of China, underscoring a definite shift towards ‘social commerce’ among social media users.
Shopify’s Satish Kanwar said: “It was obvious early on how TikTok was starting to influence commerce trends and trajectories. With direct-to-consumer brands, that relationship between storytelling and entertainment and the product they sell is so close.
“We believe video is the default form of communication online today. We are very eager to see how video and commerce can expand.”
Shopify has seen its sales surge during lockdown, rising nearly 100 per cent during its second quarter to overtake Ebay for the first time.


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Malaysia’s been upping their beauty game with homegrown brands putting out innovative products every so often. Malaysian brand Omorose Cosmetics has proven their worth in the international arena, as they made a debut during this year’s Cannes Film Festival in France.
Omorose Cosmetics caught the eye of Dubois Pelin & Associates’ (DPA) Gifting Lounge organizing committee with their commitment to inclusivity, and thus were invited to share their award-winning Lip Dressing Quintette Sets at Cannes. The set contains carefully selected vegan lip balms and Braille labelled packaging. The brand was featured alongside internationally renowned brands and a host of celebrities, nominees and presenters.
Launched in 2014, Terry Liau, Founder of Omorose Cosmetics, believes that every
woman deserves to be beautiful, and that beauty should be accessible to people from all walks of life. This has proven to be the brand’s guiding principle, which led to their formulations to be both universal and vegan-friendly; their on-site counters to be wheelchair-friendly; and Braille a prominent feature on all their product packaging – a truly inclusive brand. Of course, quality and safety are a key feature for the brand, as they only use natural preservatives where needed and avoid parabens, phenoxyethanol, phthalates and mineral oil. Talk about beauty with a heart, huh?
That being said, the Cannes Film Festival has long been part of the awards circuits and the brand has officially been imprinted into the minds of the fashion elite, making it a brand to watch. The gifting session took place from 17 to 26 May 2017, at The InterContinental Carlton Hotel, Cannes, where other international brands gave away products to a host of celebrities that made a pit stop.
“We are thrilled and honoured to be part of the 70th anniversary of the Cannes Film Festival. It was a once in a lifetime opportunity, and we are truly thankful to be able to represent Malaysia alongside renowned international brands. This recognition has inspired us to work harder to make Omorose Cosmetics a household name, both locally and across the shores’, Terry Liau added.
Omorose Cosmetics is available via its online store at http://omorosecosmetics.com/products (they ship worldwide!) and at select retail counters in the Klang Valley. For more information, check out their official website or Facebook page.


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BOCA RATON, Fla., March 26, 2019 / PRNewswire / – Customers of Nature's Pavilion Food Store at New Jersey I have knowledge about Steve Shah's traditional remedies in the last 20 years.
Now, it's time for the rest of the country to learn about these products that are rooted 5,000 years ago Indiaand what Shah brought to the consumer today.
The main complement to Shah is the CVF, formerly Cold, Virus & Flu Formula, which is a unique blend of 24 different herbs from around the world in a relationship that addresses all the symptoms associated with a cold or the flu.
The satisfied and healthy customers of the CVF from their natural products store are the best verbal endorsement any supplement could receive.
"We have had nothing but positive feedback over the past two decades on FVC," he said. Steve Shah, owner of the Nature Pavilion and CEO of Bio-herbMD. "The support from our customers has given us the confidence to present our supplements to American consumers across the country."
Once Shah developed the FVC, a process that took more than a year to determine the right herbs to use and the right amount, he went on to create other remedies that combine an Indian ayurvedic approach with Traditional Chinese Medicine as well as natural herbs from Europe, North Americaand South America.
The other natural remedies of Bio-herbMD are:
- Aller-G for allergies, hay fever and sinusitis.
- Deep Tissue Gold for relief of joints and muscles.
- Nerve Calm for stress, anxiety, panic attacks, restless legs syndrome, muscle tightness and insomnia.
- Anti-fungal oil for nail fungus, athlete's foot, ringworm, etc.
- Balanced superfood for energy and immune system, digestive system, sugar balance and weight control.
"When we introduced the FVC for the first time, there was an influenza epidemic." The nurses, who were given orders to work healthy or sick, began using FVC and found that it worked. said Shah. "We have introduced our other remedies over the years. Now is the time to go to the country."
For more information, check out his website at healthpavilion.com.
Please direct questions to:


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The Town That Lost Its Walmart
EDNA, Texas — Early on the morning of June 20, 2018, Joe Hermes got a call from an executive in Walmart’s corporate offices. The caller was breaking some bad news: After 36 years, Walmart was closing its Edna store.
Hermes, who had been mayor of this small Texas city for about as long as the Walmart had been open, asked the man if he was joking.
“It was like getting hit by a bomb,” he recalled.
Walmart was Edna’s engine — one of its largest employers, a big taxpayer, a 24-hour social hub in a community of about 5,700 people surrounded by rice fields, ranches and grassland. The store, according to many patrons and employees, seemed successful, which made its closing even more alarming. Maybe Walmart knew something about Edna, or its economy, that the residents did not.
Case studies and books have examined what happens to a community when a Walmart muscles in, how the retailer uses its enormous leverage to lower prices and undercut competitors. But less has been said about what happens when Walmart suddenly packs up and leaves.
Edna, it turns out, was able to pull through in ways that may have made the city stronger.
The closing of the Edna Walmart is not a story about a retailer struggling to adjust to the e-commerce revolution. Nationally, Walmart has achieved some of its best sales growth in years, transforming its Supercenters into digital retailing meccas, where shelf-scanning robots roam the aisles and shoppers idling in the parking lot can order avocados on their phones and have them delivered to their cars.
But the Edna store, a much smaller format built in 1982, did not offer many of those services. And with several Supercenters within roughly 25 miles, Walmart no longer needed Edna. Walmart declined to say exactly why the company left town.
A spokesman said such decisions were “based on a number of factors, including the financial performance of the store and whether we have other stores nearby that can best serve our customers.” The company offered to relocate many of the Edna store’s roughly 90 employees and transfer its customers’ prescriptions to other stores.
Edna is a proud place. A downtown theater glows with rainbow lights and the tower on top of the building spells out the city’s name high above a ticket booth covered in cobwebs. The theater has not shown movies regularly for years, though its new owner has told residents he plans to start screenings soon.
American flags fly along Main Street, remnants of a policy requiring them until an “honorable peace” had been achieved in Vietnam, Hermes said, or all the troops had come home.
Still, with Walmart leaving, Edna’s residents worried about where they would buy their medication; what would happen to the store’s employees; how the city would make up for the lost sales tax revenue.
On the week the closing was announced, Andrew Schroer, the pastor at Redeemer Lutheran, one of the city’s 26 churches, tried to comfort his congregation in a sermon, as well as in the regular newspaper column he writes in several Texas newspapers.
“Don’t worry when the local Walmart closes,” wrote Schroer, who moved to Edna from Miami in 2003 and has turned down nearly a dozen church assignments to stay here.
“God will find a way to provide what you need,” Schroer wrote of the store’s closing. “You will live through it. You will live beyond it.”
It is a roughly 100-mile drive to Edna from Houston. On Lloyd Bentsen Memorial Highway, two weeks before Christmas, the big-city sprawl gives way to open fields lying brown and empty, like a drab patchwork quilt.
Edna appears after crossing a man-made lake and is centered on a business district that includes a nail salon, a flower shop, the “Hot Bonds” bail bonds office, several empty storefronts and the county jail. A few weeks ago, the city held its Christmas parade, called “Miracle on Main Street,” along this route.
The town was founded in 1882 and named after the daughter of an Italian count, who came to Texas to build a railroad stretching from Mexico to New York. Two nearby towns are named after the count’s other daughters, Inez and Louise.
The count imported hundreds of Italian laborers and fed them, according to a history of Jackson County, largely with macaroni. The railroad was nicknamed the Macaroni line. But the count left the railroad after laying only about 90 miles of track.
One hundred years later, another entrepreneur arrived — this time in a prop plane.
He was tall, wearing work boots and a blue denim jacket and leaning up against a twin-engine Cessna at the Edna airport, recalled Richard Browning, an Edna resident and former mayor, who had just landed his own plane.
The man introduced himself as Sam Walton and said he owned a chain of discount stores called Walmart. Walton had flown in because he was looking to build a store in Edna. Walton told Browning he needed a ride into town.
“I thought he was a cattleman,” said Browning, who is now 85.
After pushing his plane into his hangar, Browning drove Walton to a local real-estate office and dropped him off.
The Walmart, store No. 474, soon opened on a large lot next to the highway exit.
It quickly became the place to shop for appliances, clothing, children’s shoes and Christmas trees. Eventually, it added a pharmacy and then groceries. By the 1990s, many of the city’s small clothing and food stores had trouble competing with Walmart’s low prices.
For those who worked in the Walmart, the experience could be mixed. Most of the employees were full time, but a number were part time, and, for them, some benefits were limited. For many, the job could be rewarding and less physically taxing than working in the plastics plants, the area’s largest employers.
Summer Webster, who worked in the automotive department and met her husband at the store, said she had spent much of her day talking with customers. “I thought that was a good thing,” she said.
Everyone has a story about the store. There was a mother whose son suffered from mysteriously high fevers. She would run to Walmart to pick up ibuprofen and a Thomas the Tank Engine toy to cheer him up.
A young woman with a kidney transplant took comfort knowing the pharmacy was only a short drive from her house. A city councilman walked the aisles on his lunch break not to shop, but to talk and blow off steam. The owner of a downtown workshop that makes custom coffins picked up art supplies in the middle of the night.
And then the store was gone.
Chris Lundstrom, the editor and publisher of The Jackson County Herald-Tribune, Edna’s weekly newspaper, recalled how her newsroom went silent the morning Walmart called to say the store was closing.
“I let out this big gasp, ” Lundstrom said. “Like someone had died.” Then she quickly went to work, publishing the story on the newspaper’s Facebook page so as not to be scooped by competitors.
Lance Smiga, the chief financial officer of the 25-bed hospital and current mayor, asked a colleague, “How are we going to recruit doctors to come to Edna, when we can’t even keep a Walmart?”
Billy Storz, 55, who works in a plastics plant, called Walmart to say how the store closing would hurt the community. “I just wanted my voice to be heard,” he said. “But it didn’t matter if every person in this town called. The decision had already been made.”
So Edna tightened its belt and plotted a way forward. Bracing for a drop in sales-tax revenue, city leaders cut road repair and began a “Buy Local” campaign.
Edna Auto Supply started carrying items Walmart used to sell like ammunition, toasters and Christmas trees.
Lundstrom bought notebooks and pens at the Walmart Supercenter in Victoria, and resold them at the newspaper offices, which double as an office supply store.
A Family Dollar opened up across the street from the Dollar General, which remodeled and added items.
The new Edna Pharmacy celebrated its grand opening in April offering traditional Ethiopian coffee and snacks, a nod to the store owner’s family heritage, said Lori Hernandez, who works there.
This month, an Alamo Lumber, a family-owned chain based in San Antonio, opened at the site of the former Walmart. The store has brightly lit aisles stacked with PVC pipes and chain saws, and smells of freshly cut wood. Eleven people work there.
“It is really nice to have them,” Lundstrom said. “But it’s not the same as Walmart.”
Walmart has relocated about half of the 90 employees who worked in Edna to other area stores. Not all of them have stayed with the company.
Eric Wade, 35, took a job unloading trucks at a Supercenter about 40 miles away, but he quit after only a few months. He felt the huge store lacked camaraderie among the employees. He now works at Caterpillar manufacturing excavators.
Some former workers from the Edna store have told friends that the drive to their new jobs has been wearing on their cars and the cost of gas was eating into their wages.
A few have ended up finding work in Edna. Aubrey Garcia, 25, who used to work in the Walmart pharmacy, now delivers flowers for a shop downtown. Webster, the chatty employee in the automotive department, checks people into the exercise room at the hospital.
Many Edna residents say they refuse to shop at Walmart ever again. But others admit that they often drive to shop in the Supercenters in larger towns.
This fall, Edna received a pleasant surprise. Sales tax revenue did not drop the way city officials feared it would after Walmart left. To many, the numbers showed that Edna’s retail stores had filled the void.
“People learned they need to shop at home,” said Hermes, the former mayor.
The revenue numbers also likely include the purchases Edna residents made on Amazon and other large e-commerce sites. Neither the state nor the city breaks out how much was spent online versus in local stores. So Edna may never know for sure what drove the rebound in retail sales after Walmart left.
“From my perspective,” said Schroer, the pastor, “God provided. I truly believe that.”
This article originally appeared in The New York Times.
© 2019 The New York Times Company
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News: USA - Government ends sale of expended military ammunition to remanufacturers
US President Obama is reversing the rules on re-selling used bullet casings. From now on, they cannot be sold for remanufacturing, but must be liquidated at scrap value.
Wednesday, 18th March 2009
US President Obama is reversing the rules on re-selling used bullet casings. From now on, they cannot be sold for remanufacturing, but must be liquidated at scrap value. The government is taking an 80% cut in revenues with this new rule - and that doesn't count the extra effort and expense of mutilating the casings in the process. In response, remanufacturers are cutting back business drastically, if not closing up shop entirely. The Government has been determined that fired munitions of all calibres, shapes and sizes have been designated to be Demil code B. As a result suppliers must immediately cease delivery of any fired munitions that have been recently sold or on active term contracts, unless the material has been mutilated prior to sale. A certificate of destruction is required in either case.
Why textile process waste should be remanufactured
H&M Foundation Global Change Award winner calls for remanufacturing of textile waste - a significant economic opportunity for textile mills that will also improve supply chain transparency/traceability and create new, circular business models.


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WithIt announced that it will honor exemplary home furnishings professionals and businesses during its newly scheduled WOW Awards, which are set for Sunday, January 27, 2013, at World Market Center Las Vegas, an International Market Centers property.
With the dynamic Las Vegas cityscape as backdrop, the prestigious WOW Awards will honor the commitment, achievement, leadership potential and service of home furnishings leaders. A total of five awards will be bestowed, plus the highly anticipated President’s Award.
“WithIt is pleased to add new excitement to our acclaimed WOW Awards,” explains WithIt 2012 President Julia Rosien, SocialNorth.com. “By moving the program to coincide with the Las Vegas Market, we recognize our association’s growth in the Western region, as well as the opportunity to reach new audiences by aligning with a bustling international market.”
“World Market Center is pleased to host the 2013 WOW Awards,” says Robert Maricich, chief executive officer of International Market Centers. “Our leading campus is a fitting stage for honoring individuals who foster leadership development in all industry-related fields and at all career levels.”
Previously, the WOW Awards winners were announced during a dinner and ceremony at WithIt’s annual professional conference. In lieu of a 2012 presentation, the annual education conference, to run Aug. 14-16 in Raleigh, NC, will offer “Life is a Highway,” a Las Vegas-themed networking reception, dinner and silent auction.
Both WithIt members and non-members can nominate an industry professional or business for the following awards:
LEGACY AWARD: For a woman of achievement who has made significant lifetime contributions to the home furnishings industry
MENTORING AWARD: For an executive or organization that has fostered advocacy, development or promotion of women in their company
EDUCATION AWARD: For an executive or company that has developed programs to educate associates, retailers or consumers about home furnishings
LEADERSHIP AWARD: For a woman 40 or over who has demonstrated successful leadership in her company, in WithIt, and/or in the home furnishings industry.
FUTURE LEADER AWARD: For a woman 40 or under who has demonstrated outstanding achievement and the potential to become an industry leader
The deadline for nominations is Aug. 20. For more information, including the nomination form, visit www.withit.org.
WithIt was formed in 1997 for women in the home and furnishings industries in order to support their multi-dimensional career paths. It’s a not-for-profit network based in North Carolina and supported by companies such as Leggett & Platt, Broyhill and International Market Centers. Its main purpose is to encourage and develop leadership, mentoring, education and networking opportunity for professional women in the home and furnishings industries. www.WithIt.org
About World Market Center Las Vegas:
World Market Center Las Vegas is an integrated home and hospitality contract furnishings showroom and trade complex. The campus showcases furniture, decorative accessories, gift, lighting, area rugs, home textiles and related segments, as well as the Las Vegas Design Center open daily to consumers and designers. For more information on World Market Center Las Vegas and its trade shows including the bi-annual Las Vegas Market and Gift+Home, visit www.wmclv.com
World Market Center Las Vegas is a property of International Market Centers, L.P. (IMC), the world’s largest operator of premier showroom space for the furnishings, home décor and gift industries. International Market Centers owns and operates 11.5 million square feet of world-class exhibition space in High Point, NC, and Las Vegas. IMC’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home décor and gift industries. For more information about IMC, visit imcenters.com.
Furniture World Magazine-Business solutions for furniture retailers


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This week saw the Australian League of Legends esports scene pass a major milestone, with the top three Oceanic Pro League teams taking home their first ever international tournament victory in the Pacific division of this year’s Rift Rivals.
Games - Features
The League of Legends Oceanic Pro League walked away with their first Rift Rivals win, beating out the competition this week at Sydney's State Theater. Here's a look at the night as it happened.
The Banner Saga 3 isn't due to release for another month, but we can already tell it's going to be a journey we'll want to see through to the bitter end.
This is our definitive list of the best multiplayer party games out there, regardless of whether you play on a PC or a console.
Just in time to celebrate the second anniversary of Blizzard's popular online shooter Overwatch, we spoke with two members of the game's development team about hero popularity, player toxicity and whether or not they'll be selling more legendary skin...
We checked in with a panel of industry and esports experts ahead of this year’s IEM Sydney. Here are some of the insights they had to share:
Here's a look at some of the tech, games and pro-level play that was on display at this year's IEM Sydney.
Despite what the nomenclature suggests, World of Tanks 1.0 really does feel like a whole new game.
While the rest of the world watched Drake and Ninja stream Fortnite, we were at the launch of Netgear's XR500 gaming router.
From what we’ve played of it - Pillars of Eternity II: Deadfire is looking like it will extend the series’ in both new and natural directions.
Inspired by classic 80s films like The Goonies and set in 1986 California, Crossing Souls follows a group of ragtag group of five friends who discover a mysterious crystal that allows to travel between dimensions.
Despite more than a few high-profile duds, 2017 still managed to offer up a surprisingly robust catalog of games for both enthusiasts and casuals alike.
With Firaxis rumored to be putting the X-COM franchise on the backburner due to disappointing sales, there’s sure to be a hole left in the hearts of turn-based tactics fan everywhere. Fortunately, this hole might also end up being a major opportuni...
We spoke to TinyBuild producer Karrie Shirou about the game and how developer Dynamic Pixel have gone about refining an experience that relies so heavily on dynamic artificial intelligence.
It wouldn’t be PAX without Wargaming. During PAX AUS 2017, we made time to sit down for a chat with several Wargaming executives (plus The Creative Assembly’s Josh Williams) to talk about the company’s past, present and future as a publisher.
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MG Motor India, the British automobile brand with a rich 100-year legacy, has reaffirmed its commitment to nurturing India’s startup ecosystem by participating as the Official Mobility Partner in Startup Mahakumbh 2024. This event, themed ‘Bharat Innovates‘, is a unique initiative bringing together startups, investors, incubators, accelerators, and industry leaders from various sectors. As the sole auto OEM participant, MG Motor is showcasing its dedication to fostering innovation in India.
The startup ecosystem in India has seen tremendous growth, and MG Motor has been at the forefront of supporting this growth through its MG Developer Program and Grant (MGDP). Now in its fifth season, the MGDP focuses on encouraging Artificial Intelligence (AI) in Electric Mobility, aiming to create a pipeline of new ideas and innovations in the country.
MG Motor has a history of collaborating with tech startups to develop applications for the automotive industry, ranging from in-product innovations to customer experience enhancements. At Startup Mahakumbh, the carmaker is providing an exclusive opportunity to nine startups, selected from various MGDP seasons and other innovation initiatives, to showcase their solutions at the dedicated MG Pavilion.
The event, held from March 18-20, 2024, in New Delhi, is a collaborative effort of ASSOCHAM, Nasscom, Bootstrap Incubation & Advisory Foundation, TiE, and the Indian Venture and Alternate Capital Association (IVCA). It aims to connect startups with investors, including VCs, angel investors, family offices, and HNIs, as well as potential corporate partners. This platform celebrates and fosters the spirit of creativity and ingenuity within India while embracing a global perspective.
Gaurav Gupta, Deputy Managing Director, MG Motor India, expressed the company’s commitment to fostering innovation in India’s tech startup ecosystem. He highlighted the MGDP as a testament to collaboration and innovation, bringing together startups and industry leaders to fuel the growth of the startup community. Gupta also emphasized MG’s commitment to working with tech startups to develop applications for the automotive industry.
At Startup Mahakumbh, MG Motor is also showcasing its electric vehicles (EVs), including the ZS EV – India’s first pure-electric EV SUV and MG Comet – The Smart EV. These vehicles, which serve as the official vehicles for delegates, underscore the company’s support and commitment to green mobility.
Through the MG Developer Program, MG Motor India has provided mentorship to more than 1500 startups across diverse fields, including Connected Car technology and electric mobility, in collaboration with esteemed partners such as Jio, SAP, and Exicom. The program aims to position India as a pivotal hub for innovation and technology, with a focus on Artificial Intelligence within the Electric Mobility sector.
In conclusion, MG Motor India’s participation in Startup Mahakumbh 2024 as the Official Mobility Partner underscores its commitment to driving innovation and progress in India’s tech startup ecosystem. The company’s initiatives, including the MG Developer Program and its support for green mobility, exemplify its role in transformative change in the automotive landscape.


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One suspect caught, one sought in Frankfort cell phone store robbery
FRANKFORT, Ky. (WTVQ) – Two men trying to steal cell phones from an AT&T store in Frankfort sparked a high-speed chase across three counties that landed one of the two in jail.
According to Frankfort Police, at about 5:25 p.m. Tuesday, the AT&T store at 130 Jett Blvd. reported two men came into the store posing as customers, brandished a firearm and demanded multiple cell phones. The two left the store with 20-30 cell phones and fled in a maroon Ford Explorer, police said.
A short time later, the SUV was spotted on I-64 by Frankfort officers and a pursuit ensued through Franklin, Shelby, and Jefferson counties.
The suspects jumped from the SUV and fled. One juvenile was caught in the Middletown area in Jefferson County, but the other suspect got away, police said.
The vehicle, stolen from a Louisville car dealership, and the stolen property were recovered, according to police.
The juvenile will be charged with first-degree robbery and other offenses.
The Frankfort Police Department thanked the Franklin County Sheriff’s Office, Shelby County Sheriff’s Office, Shelbyville PD, KSP, Louisville Metro, Louisville Metro Air Unit, Middletown PD, and Fish and Wildlife for assistance.


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Spotify opened up its code to iOS developers on Wednesday, with big implications for music on the iPhone, iPod Touch, and iPad.
Starting today, developers can build Apple iOS apps that play anything from Spotify’s entire 15-million-song-plus music catalog, with support for full-track streaming, playlists, search, and so on.
Want to build an iPad app that plays just about every song in the world whose title starts with the letter ‘B’? Or perhaps you’d rather create an app that lets people collaborate on the perfect music to listen to during a hurricane, like we did last weekend with a web page. Now, you can.
[partner id="evolverfm"]Not only will this give app developers a powerful new way to build music apps incorporating millions of songs (or just a curated slice) without having to secure licenses from every major and independent label and publisher, which is all but impossible for small developers, but it enhances the value of a Spotify subscription.
Evolver.fm confirmed with Spotify spokeswoman Alison Bonny that users must pay for a Spotify Premium subscription in order to use these apps, which stands to reason — after all, they have to pay in order to use Spotify’s own iOS app, too. The difference is that now, a Spotify subscription will likely come with all sorts of extra wacky and ambitious iOS apps that rely on the same catalog, with new interfaces and extra features for sharing, organizing, learning about, and playing that music.
“We hope this will enable a new category of iPhone, iPad and iPod Touch applications with Spotify inside,” wrote Spotify director of platform Sten Garmark, “and allow for more immersive music experiences within iOS apps.”
However, Spotify’s API allows only “non-commercial use” right out of the box. Developers looking to sell apps that incorporate Spotify music — or to release free apps that include ads — are still advised to contact Spotify’s partner team before starting development.
Rdio announced a similar strategy in May, and already powers several third-party apps, so Spotify’s move isn’t new. However, in both cases, only premium subscribers who pay $10 per month can use these third-party apps in order to hear full versions of songs. So now, the race is on between the two services to see which ones can amass the most paying subscribers, because that’s where the largest pool of potential users of third-party apps will pool — and developers will likely follow them.
Spotify plans to hold a meet-up in New York City on September 7 to teach developers how to use this. At some point after that, Spotify subscribers can expect a new generation of free iOS music apps to choose from, all of which rely on the same Spotify subscription they already pay for.
See Also: - Spotify Launches in the U.S at Last


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October 10, 2014 |
NEW DELHI: Prices of palmolein rose by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market today on scattered demand from retailers. In the non-edible section, linseed oil also moved up on increased offtake by consuming industries. Traders said some demand from retailers mainly led to the rise in palmolein oil prices. In the national capital, palmolein (rbd) and palmolein (Kandla) oils went up by Rs 50 each to Rs 5,900 and Rs 5,700 per quintal, respectively.
July 7, 2012 |
NEW DELHI: Prices of palmolein and coconut oils strengthened by up to Rs 100 in the wholesale oils and oilseeds market today on increased demand from retailers. However, other edible and non-edible oils continued to move in a narrow range in limited deals and settled around previous levels. Traders said increased demand from retailers mainly led to a rise in palmolein and coconut oil prices. In the national capital, palmolein (kandla) oil rose by Rs 100 to Rs 7,750 per quintal, while coconut oil traded higher by Rs 25 to Rs 1,375-1,425 per tin.
May 1, 2010 |
DUBAI: Dubai has become the second most popular retail hotspot for international brands, after London , global realty consultant CBRE has said. According to CB Richard Ellis's (CBRE) annual report, Dubai is home to the second-highest number of international brands, about 55 per cent of the 294 retailers surveyed. It is close to the estimates of retailers in London, which has 56 per cent, while Paris and New York have 46 and 44 per cent, respectively.
January 21, 2009 |
It was only a matter of time before the economic climate hit the retail community , and the demise of Woolworths looks to be the first of many high street casualties. The reports from the street indicate that the situation is likely to get worse rather than better, and many retailers will be entering 2009 will trepidation.While consumers are benefiting from what seems like endless offers to drive sales there will be some retailers who will simply be unable to sustain this approach.
June 22, 2011 |
In pursuit of its objective to provide a direct cash subsidy to farmers for fertilisers, the government is mulling the feasibility of transferring the subsidy in cash to about 2.3 lakh retailers, instead of the fertiliser makers, as a preliminary step. A task force headed by Nandan Nilekani is working on a model for the proposed direct cash subsidy system for fertilisers, food and fuel, which the government wants to implement from March, 2012. As the first step, the task force has proposed to set up a software to track the sale of fertiliser till the retail level.
November 29, 2008 |
NEW YORK: US retailers opened their doors at midnight and discounted merchandise as much as 70% on the day after Thanksgiving to counter what may be the weakest holiday shopping season in six years. Individuals may spend an average of $616 on holiday gifts this year, down 29% from a year earlier. That raises the pressure on chains facing declining consumer confidence and the prospect of a recession. "We're out to save money," said 62-year-old Jeanne Molloy, who was taking a bus from New York City to Central Valley, New York, with an empty suitcase.
March 5, 2011 |
NEW DELHI: Retailers including Pantaloons, Reliance Trends and Aditya Birla Retail will soon finalise their course of action against the 10% excise duty imposed on branded garments by the government. Some will also observe a day's strike on Monday to oppose the same. The Retailers Association of India (RAI) that has members including top retailers in the country, held a conference call on Friday evening to know the sector's response to the excise duty levy.
July 2, 2004 |
NEW DELHI: Large retailers such as Foodworld, Giant, Nilgiri's and Trinethra may soon stop stocking goods that are not barcoded. The four supermarket chains have asked the fast-moving consumer goods companies to put barcodes on their product packaging by September, failing which they would either be rejected or subjected to stiff penalty. Foodworld and Giant have already started putting a small penalty on the non-followers while Nilgiri's is planning to do so post-September deadline.
August 6, 2009 |
MUMBAI: The king of good times is in a bit of a spot. The over 1,600 retailers in Maharashtra have threatened to stop selling Bagpiper and McDowell's, the flagship whisky brands of United Spirits (USL). This is in protest against the company's decision to slash their profit margin from 4% to 2%. The retailers have threatened to boycott USL's brands in Maharashtra from next Friday. The state accounts for 8% of USL's all-India business. Besides, USL's brands account for 80% of the 10-million cases of branded spirit that are sold in Maharashtra.
November 10, 2008 |
NEW DELHI: Faced with falling sales and a growing need to conserve cash as consumer spending slows down, large retailers are seeking more time from manufacturers to pay for goods while smaller suppliers are being squeezed as retailers delay payments and unilaterally extend credit periods. "We are going to talk to FMCG companies to extend the credit period to us," said Future Group CEO Kishore Biyani. The Future Group is India's largest retailer and operates the Big Bazaar and Food Bazaar stores and sells products across almost all categories.


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The Government has extended by one more year till July 2014 the deadline for pharmaceutical companies to affix barcodes on primary level packaging.
A barcode helps in tracking and tracing the origin of drugs, which in turn helps in minimising the chance of genuine drugs being considered spurious, sub-standard or counterfeit.
“Earlier, the requirement of affixing barcodes on primary level packaging was to take effect from July 1, 2013. Now this date has been deferred to July 1, 2014,” the Directorate-General of Foreign Trade (DGFT) said in a public notice.
Primary level packaging is the first-level product packaging such as the bottle, can, jar, tube, that contains the item sold.
The Government had asked pharmaceutical companies to build track-and-trace capabilities for their exported medicines using barcode technology at three levels of packaging — primary, secondary and tertiary.
India exports over $10 billion worth of drugs annually.
Industry experts say the only way Indian pharma firms can tap the global market is by ensuring quality, and barcoding would help ensure that.


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WASHINGTON — A new, $100 billion economic stimulus package for both consumers and businesses could be implemented this month, reports said on Friday, and another, possibly larger package could follow earlier next year. The news came after bleak reports on job losses and dire forecasts for the economy late last week. The first package reportedly will include a 13-week extension of unemployment benefits and additional funds for food stamps. President-elect Obama called for the speedy passage of economic stimulus initiatives after a meeting with economic advisors on Friday.
Read More of Today's Headlines


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India's engineering exports to western countries decline: EEPC
India's engineering exports to western countries decline: EEPCNew Delhi, Dec 27 (KNN) India’s engineering exports to the western countries such as US and Germany have declined during April-November this fiscal, with exports to US, one of India’s biggest destinations, dipping by about 10 per cent to USD 3.90 billion.
"The shipments to the US dropped by 9.19 per cent to 3.90 billion during April-November this fiscal from USD 4.3 billion and the country is among India's largest destination," Engineering Export Promotion Council (EEPC) said in a statement today.
Similarly, the exports to Germany fell by about six per cent to USD 1.3 billion during the period.
"The signs of recovery in some of the key western countries like the US are hazy. This way, there was a drop in the overall engineering exports by over 14 per cent in November," EEPC India chairman Anupam Shah said.
EEPC further said that engineering exports to some of the key countries with which India has Free Trade Agreements (FTAs) or preferential trade pacts have shown a healthy growth with the exception of Singapore during April-November, 2013-14.
The sector's shipment to Japan have recorded a growth of 17 per cent during the eight month of the current fiscal to USD 568 million from USD 485 million in the same period last year, EEPC said.
The exports to South Korea grew by over 13 per cent to USD 739 million during the period, it said.
"The Japanese economy is doing rather well, while the manufacturing base in South Korea kept the momentum alive despite problems in the west," Shah said.
He said that a similar trend was seen in the trade among the neighbouring countries like Bangladesh, Sri Lanka and Nepal with which India has some kind of liberalised trading regime.
Engineering shipments to Sri Lanka went up by 18.57 per cent to USD 1.34 billion during the period from USD 1.13 billion a year ago. Likewise, the exports to Nepal were up 20.84 per cent to USD 577 million.
However, he said that engineering exports to Singapore, with which India has implemented FTA in 2005, have registered a decline.
"Exports of the engineering goods to this island nation in the April-November month saw a drop of 2.11 per cent to USD 1.99 billion," he added.
“Iran and Kenya are the two countries that compete to remain among the top 25 countries of engineering export destination. In April- November 2013 Kenya has dropped in removing Iran from the top 25 countries. The top 25 countries contribute over 72 per cent of engineering exports from India,” EEPC statement added.
The basket of exports of engineering goods is quite wide which include high –tech items like nuclear reactor parts , aerospace parts to automobile (motor vehicles, two-three wheelers, components), bicycles and parts, steel and iron products, non-ferrous metals, transport equipment ….etc. (KNN/SD)


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Cinderella finally made it to the ball.
Since December, Goldman Sachs
Claire's operates roughly 3,000 stores stocked with jewelry items for teens. The company has dominated its category, and it knows how to fend off competitors such as dELiA*s
But investors are now concerned that Claire's has already saturated the U.S. market. To sustain its growth, it will likely turn next to Europe and Canada, but such moves carry significant risk. That's partly why the stock fell from $36 in April in 2006 to $24 in June.
I'm guessing that Apollo intends to invest significant equity in the deal, to keep interest payments low and provide enough capital to expand Claire's business. The firm did likewise with its $1.3 billion buyout of Linens 'N Things in November 2005, in which Apollo's equity commitment was about half the purchase price.
For confirmation, we'll need to wait a few weeks for Claire's proxy statement. The document will also show how many real bidders came to the table. According to a recent story in Women's Wear Daily, Apax Partners was rumored to have dropped out of the bidding because the price was too high.
Despite the activity, Foolish investors would have been smart to stay on the sidelines in this deal. On the day of Goldman's hiring, Claire's stock increased 5% to $33.36. Apollo's offer? $33 per share.
Further fashionable Foolishness:
- Claire's Buyout Loses Some Luster
- Claire's Stores Shops Itself
- Claire's Stores Struggles With the Low End


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Avril Lavigne is the latest celebrity NOT pregnant
Avril Lavigne may have debuted her newest Abbey Dawn collection at New York Fashion Week, but she is not debuting a baby bump anytime soon.
According to Socialite Life, the media began speculation over an Avril Lavigne and Brody Jenner baby after the “What The Hell” singer wore a loose fitting outfit out to a spa day with friends recently.
According to the singer, the rumors were not only false, but she also found them insulting.
“Oh my God, that was yesterday! I was out getting my nails done with my girlfriend and I had a poncho on,” she said in a new interview, “There was a whole thing online that I was pregnant.


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Over 50 residents voiced their anger at the decision to shut the Main Street bank, with Mr Duguid having encouraged Head of Stores, Allison Hair, Public Affairs Manager Richie Lovell and Area Manager Gary Venerus to face the Turriff community.
In response to the MP’s request ahead of the meeting on Thursday night (August 10), bank bosses said they are awaiting the result of a community impact assessment before engaging further on the matter with the public.
Virgin Money stores in Ellon and Turriff will close on November 27 and 28 respectively, with the decision announced by the bank last month.
Residents attended the meeting at the Royal British Legion Clubrooms, organised by Turriff Business Association and the Turriff Community Council, to raise numerous concerns such as customers having to use branches 20 miles away in Inverurie or Keith.
Mr Duguid was part of the panel of community leaders which also included Business Association Chair, Marj Chalmers, Rose Logan from Turriff Community Council and Councillor Alastair Forsyth.
Other concerns included the impact on the town’s post office, which has already had to absorb the closure of three other banks in Turriff.
Several customers at the meeting also said they still hadn’t received a notification letter on the closure of the bank.
During his one-to-one meeting with the bank, Mr Duguid was told the majority of the 16 staff impacted by the closures of both Turriff and Ellon were to take voluntary redundancy, with the remaining few being redeployed elsewhere within Virgin Money.
Virgin added that customer transactions at Turriff are 33 per cent lower than the average store while there has been a 12 per cent drop in footfall over the last year.
The Banff and Buchan MP said: “I’m very disappointed Virgin Money representatives did not take the opportunity to attend the meeting to engage more meaningfully with local personal and business customers of the bank.
“This would have given them the perfect opportunity to hear the concerns from customers who are rightly worried and angered about being left in the dark over their banking services.
“There was a great turnout from residents to the meeting and lots of frustration was expressed towards the bank who have failed to engage adequately with their customers, particularly business customers who still haven’t received a notification letter.
“I have urged the bank to consider the effect their plans will have on residents and businesses in Turriff, but also the surrounding rural area, especially farming businesses and those most dependent on personal interaction in their local branch.
“Having access to banking in rural areas is critical and this closure will have a knock-on effect on local residents and businesses who often rely on a physical bank branch.”
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In a response to the MP’s request for Virgin Money to attend the meeting, a spokesman for the bank said: "As discussed during our recent call, we are awaiting the findings of the Stage 3 LINK assessment for the Turriff store and feel it is important to take the outcome of this assessment into account before we engage on this matter further.
"A significant proportion of this drop in footfall has therefore resulted from changing customer behaviour since the pandemic, however, footfall has not recovered post Covid and in the last year alone there has been a 12 per cent drop in footfall.
"Additionally, the number of customer transactions at Turriff is around 33 per cent lower than the average store across our network.”
Mr Duguid committed to those present at the meeting that he would be feeding back their concerns directly to Virgin Money and Link.