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Last modified: Monday, May 13, 2013
Two IU student teams share $200,000 start-up investment as BEST contest winners
FOR IMMEDIATE RELEASE
May 13, 2013
BLOOMINGTON, Ind. -- Teams of Indiana University students who created a real-time interactive platform for sports fans and an Internet-based tuxedo rental business that provides online fittings have won IU Bloomington's BEST Competition. Each start-up company, founded by students from Kelley School of Business and the School of Informatics and Computing, will receive a $100,000 investment.
As winners of the second annual Building Entrepreneurs in Software and Technology competition, the five students -- two from Fandio.fm, the fan interaction business, and three from Menguin, the tuxedo rental business -- will work with the group of CEOs and entrepreneurs who form the BEST investors group, receiving mentoring and strategic support, in addition to the start-up funding.
Menguin was founded by Justin Delaney, Michael Gassman and Kurt Sutton, while Eric Wertenberger and Devin Powell formed Fandio.fm. Delaney, Gassman and Sutton all earned MBAs this year. Wertenberger earned a Bachelor of Science from Kelley in 2013, and Powell earned a Bachelor of Science in informatics in 2012.
School of Informatics and Computing Dean Bobby Schnabel and Associate Dean Dennis Groth, and Donald F. Kuratko, director of the Johnson Center for Entrepreneurship, joined a team of 14 private business owners who invested in the 2013 competition in judging the 32 submissions received from IU Bloomington students.
"The BEST competition, which is the largest student start-up pool in the nation for students of a single university, offers wonderful opportunities to IU students," Schnabel said. "We are extremely grateful to the distinguished group of investors, almost all of whom are IU alumni, for their dedicated participation which includes not only judging but mentoring the competitors and serving as board members and advisors for the winning teams."
Matt Ferguson, CEO of CareerBuilder and the leader of the investor group, added, "The quality of the submissions in this second year of the competition was very high and made selecting the winners enjoyable and challenging. We were particularly impressed by the growth in maturity of the ideas in the second year of the BEST competition and are excited at the prospects for the selected companies. All of the investors value the contributions that BEST is making to the entrepreneurial climate of IU and to economic development in Bloomington and Indiana."
Fandio.fm is a social platform for users to experience sports and live events with friends and other fans while allowing bloggers, celebrities and casual fans to create and hear live, alternative audio commentaries. Users listen and engage in analyses and discussions, via a chat room, that appeal specifically to them while watching an event on television.
The founders of Fandio.fm said their real-time interactive product offers more than similar streaming products that have an eight-second delay. It also has the appeal of connecting users with targeted advertising and offering commentary from broadcasters with relevant social media followings.
The Internet-based tuxedo rental company Menguin plans to use technology and character to profit in an industry the founders say is ripe for disruption. Using technology to obtain tailor measurements via webcam, and then shipping rental tuxedos in patented "Tuxboxes," the founders said they could reduce the time a customer spends renting a tuxedo from 3.25 hours to less than 10 minutes.
The team said they wanted Menguin to create a "bachelor party culture" and brand image, supported in part by a "ManBlog" and additional creative marketing and public relations efforts.
The investor group for the 2013 BEST competition, with any IU affiliation they may have, includes Ferguson (B.A., political science, 1989); Mary Delaney, CEO of Luceo Solutions (B.S., marketing, 1986); Scott Dorsey, CEO of ExactTarget (B.S., business, 1989); Chris Baggott, CEO of Compendium Software and ExactTarget co-founder; Mark Cuban, CEO of Dallas Mavericks (B.S., business, 1981); Scott Etzler, CEO of Intercall (B.S., business, 1975); David Ferguson, partner at Ferguson and Ferguson (B.S., business, 1978; J.D., 1981); Steve Ferguson, chairman of The Cook Group (J.D., 1966); Gary Graham, CEO of Lionshead Tire and Wheel (B.A., economics, 1989); Indiana University Research and Technology Corp.; Mat Orrego, CEO of Cornerstone Information Systems (B.S., business, 1985); Eric Taylor, CEO of Taylor Building Corp. (B.S., business, 1987); Jay Wilkinson, CEO of PeopleLink Staffing (B.S., public affairs, 1985); Cheng Wu, serial entrepreneur and chairman of Azuki Systems (M.S., computer science, 1977); and Farhan Yasin, CEO of Snehta.
For more information, please contact Steve Chaplin, IU Communications, at 812-856-1896 or firstname.lastname@example.org.


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ad The peak will bring out some of the biggest investors and entrepreneurs in the cryptocurrency, blockchain and engineering space, like keynote speaker Steve Wozniak. Some of these speakers will besides participate in the masterclasses, like erstwhile Vice-Chairman of NASDAQ, David Wield, who will host a QA seance for the Security Token Masterclass attendees. CryptoOracle is a community drive venture capital group focussed on the blockchain space. Founded on the belief that blockchain technology is the key to solving many of the hardest business and sociable problems facing company, CryptoOracle is committed to providing opportunities for growth within the decentralize engineering community. “ We are thus fabulously proud to be working more closely with CryptoOracle. ” said Josef Holm, Co-founder of Crypto Invest Summit. “ We parcel their heat for building a sustainable, responsible cryptocurrency and blockchain investor community. Their cognition and network will help us make these masterclasses of alone quality. ” And this partnership is fair the begin :
“ Given our focus on community and education, our partnership with Crypto Invest Summit is such a natural fit. ” said Lou Kerner, Founding Partner of CryptoOracle. “ Starting with their amazing event in Los Angeles, we look forward to leveraging our collective resources to establish a global network of crypto events, helping to build and inform the crypto community, while making the world a better place. ” After the previous Crypto Invest Summit this Spring sold out, the organizers decided to expand the summit and will more than double the size of the read ’ s footprint this fall to over 60,000 square feet of exhibition, presentation, break rooms and meeting space. besides, because of the extremely successful live tap of CNBC ’ s Crypto Trader Show on the main stage, the media floor that will include CNN, CNBC, Forbes, Fox, Investor Town Hall, ICOinvestor.TV, Huffington Post, Small Cap Nation and many more, has been expanded american samoa well. ad “ Mainstream cryptocurrency and blockchain adoption and education is at the vanguard of all that we do, ” said Alon Goren, Co-Founder of Crypto Invest Summit. “ We bring in the exceed speakers and partners in the space, from media to startups to venture capitalists to the summit, where all parties converge to create an atmosphere that is purpose-driven and hyper-focused on that agenda.
About Crypto Invest summit : Crypto Invest Summit, the west coast ’ second largest cryptocurrency and blockchain league, was founded by cryptocurrency leaders Josef Holm and Alon Goren. The summit brings together every facet of the crypto industry including angel investors, venture capital investors, retail investors, family offices, real estate of the realm investors, startups / entrepreneurs, issuers, exchanges, broker-dealers, market and PR firms, crypto service providers, FinTech service providers and members of the media. previous Crypto Invest Summit speakers include Tim Draper, Crystal Rose, Mance Harmon, Ran Neu-Ner, Marcus Lemonis, Robert Herjavec, David Siemer, Bill Barhydt, Scott Walker, Adam Draper, Amy Wan, Aubrey Chernick and Apolo Ohno. reservoir : Crypto Invest summit

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Wearables are currently a tricky proposition, as some brands fold and get out of the game entirely, while others double down with new releases, hoping to grab a piece of the market that's slated to double by 2021.
Count Garmin in the latter group. The company just announced a diverse new round of releases that could put it in position to challenge industry heavyweights like Apple and Fitbit.
The three new vívo-branded wearables look to cover a wide range of uses, from a fashion-first hybrid to pure fitness and activity tracking. Garmin's going all out with the devices, touting extra-long battery lives and new features to separate them from the rest of the wearable pack.
First up: the vívomove HR, a hybrid smartwatch that actually looks fashionable, which has long been a challenge for smartwatch makers. Garmin doesn't skimp on smart or fitness-tracking features like some hybrid devices, either, giving the vívomove HR a heart rate monitor for high-level fitness tracking, along with advanced notifications, music controls, and other smart functions.
Garmin's touting a ton of battery life along with the sexy new look — five days in "smart mode," or a full two weeks when it's worn like a normal watch. The vívomove HR comes in Sport or Premium options, which will run you between $200 to $300.
The vívoactive 3 smartwatch can't match the aesthetic chops of the vívomove HR — but the gym-first wearable does have GPS tracking for phone-free runs and a new Garmin Pay feature for contactless NFC purchases for Visa and Mastercard cardholders. Those features put the vívoactive 3 on par with the latest offerings from competitors Apple, Fitbit, and Samsung, which all have GPS and on-watch payments so you can hit the gym or running trail without your phone or wallet and still pay for a snack after.
Garmin claims the vívoactive 3 has them all beat when it comes to battery life, hyping a full week's use in smartwatch mode and 13 hours when using GPS. That could be a major perk for anyone sick of charging their smartwatch every single night.
That combo of functionality and battery life won't come cheap. The watch costs from $300 to $330, depending on the configuration, making the lower end model just as expensive as Fitbit's new Ionic and nearly pushing into Apple Watch Series 2 territory.
Finally, the new vívosport is a straightforward fitness tracker with a few features that could set it apart from basic trackers. The wearable looks like an updated version of Garmin's vívosmart 3, which dropped earlier this year, adding an always-on color display to the familiar design profile.
The vívosport has built-in GPS connectivity along with heart rate monitoring and fitness-tracking features, which could give it an edge on other devices like the vívosmart 3 or the Alta HR. The vívosport clocks in at $200, significantly more than the other options mentioned above, which could be too steep for exercisers looking for an alternative to a full-blown smartwatch.
Garmin might not carry the same clout as Apple or Fitbit, but these new wearables look like they could have the stuff to compete with the bigger brands.


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As if they haven’t had enough scorn from their Slingshot app, Facebook is toying with messaging again. This time, it comes via Instagram, where some users are seeing an invitation to try something called Bolt. It’s messaging, and it’s photo-centric. Ring a bell?
Though it’s not yet clear just what Bolt really is, a collective groan went out when screenshots of the invitation leaked. Like Slingshot, the invitation is vaporous, disappearing as quickly as it arrived. One user told The Verge that Bolt’s banner-ad invite went away in about 15 minutes. It’s oddly reminiscent of Slingshot, which “accidentally” leaked, letting a select few in.
What does Bolt do? All we ca glean from the invitation is that it’s a “one tap photo messaging” platform, and falls under the Instagram banner. The invitation lead the users reporting on it — both on Android — to a dead-end Play Store link. It’s not clear if Facebook/Instagram are simply teasing the product, or if it’s meant for a select few and the banner ad manifested widely.
Like iPhone 6 leaks, a new messaging app seems to roll out weekly. This would also mimic Facebook in the “social app that runs a messaging platform” arena. As popular as Instagram is, it’s not clear that the world can withstand another messaging app.
Via: The Verge


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Mongolian taxi riders can now pay their drivers in stablecoins routed through the Terra blockchain.
In a press release Thursday, Terra announced its stablecoin issuance protocol would act as Mongolian messaging app memeChat’s new financial backbone. That app, which has attracted 50,000 users since its March launch, now features the Terra-backed memePay payment service as well.
The partnership will let users transact with local merchants, drivers and other users’ digital wallets in Terra MNT stablecoins, tied 1:1 with the Mongolian currency (known as the tugrik). Some merchants have already agreed to use the service, including a taxi company and and a department store.
Terra and memeChat designed the system to need no additional infrastructure, according to the company. Instead, merchants can settle payments in fiat or stablecoin within the memeChat app.
But the growing network of merchants accepting memePay means some businesses will never need to convert to fiat. Uuganbayar B, a driver for the Ulaanbaatar Taxi Company, said that gas stations accept the stablecoins his riders pay him in.
“I find it very useful that I don’t need to worry about having enough cash since I can pay for gas with payments I’ve received,” he said in a statement.
Now, with a foothold in Mongolia’s capital city Ulaanbaatar, he hopes to find ever more use-cases, and partners, for Terra.
“Our local collaborations will enable stablecoins to reach thousands,” he said in a statement.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


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Expectant actress Jennifer Garner was spotted after a trip to a local Williams Sonoma store in Santa Monica, Calif. on Monday (December 12).
It looks like the weather may be getting a tad crisp in California these days judging by Jennifer’s recent clothing choice. She looked beautiful as always donning a warm Columbia jacket, animal print scarf and a pair of jeans while she toted a bag and beverage across the street. It also looks like the mama-of-two swapped out her black ballet flats today for a pair of comfy running shoes.
The fabulous family-of-four were recently spotted at the Creative Education In The Visual Arts studio in Santa Monica. Papa Ben Affleck turned the tables on the preying paps and brought along his camera for some photo-ops of his own!


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Ste. Michelle Wine Estates has announced the launch of Borne of Fire, a new Cabernet Sauvignon sourced from a vineyard region in eastern Washington State known by locals as “The Burn.”
This new region was named from legends of early settlers who set fire to the land in the fall to replenish and rejuvenate the grasslands for their horses in the spring, the company says.
The proposed American Viticultural Area (AVA), “The Burn of Columbia Valley,” was officially submitted for consideration as a new AVA on September 19, 2017. It was accepted by the Alcohol and Tobacco Tax and Trade Bureau on October 31, 2017. It is currently pending final rulemaking. Borne of Fire is the only wine on the market from The Burn.
Currently, Borne of Fire carries a Columbia Valley AVA designation. Borne of Fire 2016 Cabernet Sauvignon is now available in restaurants and retailers nationwide. The suggested retail price is $23 per 750-ml. bottle, and 35,000 cases were produced from this inaugural vintage.
The wine has herbal expressive aromas laced with pomegranate and stony minerals, the company says, followed by powdery tannins that frame flavors of cherry, currant, savory spice and red pepper. A green coffee-inflected finish rounds out the wine.


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Posted by Dale Buss on November 16, 2012 11:52 AM
As restaurant brand executives cut jobs and announced their intentions to raise prices in the wake of President Obama's re-election, no one can say they weren't forewarned.
Chains such as Papa John's are explicitly tying their actions to the costs of Obamacare, while other brands — including GE Healthcare and Virgin Airlines — also are announcing job cuts as a result of their expectations for a continuation of U.S. economic sluggishness in the wake of the voting results.
Papa John's CEO John Schnatter has been the most outspoken. The Mitt Romney backer has said that he'll raise the price of a pizza pie by 10 to 14 cents as well as slash employee hours — but it's not, he says, because of the two million pizzas he's giving away, but due to the cotss of Obamacare. He's not alone. A Denny's franchisee in Florida, John Metz, said that he plans to add a five-percent surcharge to his customers' bills and also to reduce his employees' hours.Continue reading...
Posted by Sheila Shayon on August 30, 2012 01:23 PM
It’s almost redundant to mention that social media is now de rigueur for anything of import in the world today, from sports (Olympics, Super Bowl), to entertainment (Oscars, Emmy’s) and certainly, irrevocably, for politics.
As thousands gathered in person in Tampa, Florida for the Republican National Convention, overshadowed by news of Isaac in the twitterverse and blogs, President Obama made a surprise appearance on social news site Reddit, answering questions from members on their Ask Me Anything (AMA) platform.
The White House announced the President’s social media appearance around 4:15 Wednesday afternoon. Site overload issues interfered with access and performance after Obama tweeted, "Hey, everyone: I'll be taking your questions online today," with a link to the Reddit thread just before the session started. Reddit, which claims about 40 million users, almost broke: two million people tried to access it during the next 45 minutes, with more than 200,000 visits at one point -- and that number may be low because of the strain on the site. This beat the prior record of 130,000. Continue reading...
Posted by Dale Buss on August 8, 2012 05:53 PM
The auto industry continues to move in fits and starts — some huge, some tiny — toward the future of the electrified automobile. It hasn't been pretty getting this far, and there will be many ups and downs for electric vehicles before U.S. and global consumers presumably someday embrace them.
One of the inevitable shifts along that path came today when a Chinese auto-parts company rescued cash-strapped A123 Systems, an American lithium-ion battery maker for the U.S. electrified-car market that has been in lots of financial trouble in part because of how slowly the market has developed. Wanxiang can acquire up to 80 percent of A123 Systems in return for an investment of up to $450 million.
Quickly, a very public critic of the deal emerged: Bob Lutz, former GM vice chairman, in a column on Forbes.com. The father of the Chevrolet Volt plug-in hybrid is opposed to the "green-technology" mandate on the U.S. auto industry by the Obama administration, which had made a $249-million loan to A123 Systems.
Lutz characterized the acquisition of the high-tech company by the Chinese concern as a downfall of trying to "mandate" an EV-car market to an American public that isn't ready for it yet.Continue reading...
Posted by Sheila Shayon on August 18, 2011 05:06 PM
The web world is a fickle mistress, even for high-rollers like Facebook co-founder Chris Hughes, whose venture Jumo (which he discusses above with Stephen Colbert) was just acquired by GOOD, magazine-publisher-turned-digital-media-platform. The financial terms are: $0, an “advisory” role for Hughes, and the chance for Jumo’s 16 employees to reapply for their jobs with GOOD, according to Betabeat.
The guru behind Barack Obama’s acclaimed 2008 digital strategy (Fast Company called him, perhaps excessively, “The Kid Who Made Obama President”), Hughes proved less successful with a social network for philanthropy and activism.Continue reading...
week in review
Posted by Michael Waltzer on May 13, 2011 05:30 PM
Our most-read blog posts of the past week range from McDonald's makeover to Lady Gaga's Judas video:
#1 McDonald's Launches Billion Dollar McMakeover
#2 Chobani Conquers Yogurt Market, Faces New Problem
#3 Is Sprint Really Asking Us to Spam an (Almost) 100-Year-Old Woman?
#4 The Lady Gaga Judas Video Product Placement Surprise
#5 Trump Golf Biz First To Suffer Trump Prez Biz
#6 Missed Opp: The Mystery Jacket Obama Wore To Take Out Bin Laden
#7 Coca-Cola Turns 125
#8 A New Queen for McQueen: Sarah Burton Steps Up
#9 GagaVille: Zynga Helps Lady Gaga Launch 'Born This Way' Album
#10 Branson Rebrands, Defends Virgin Australia Debut
Posted by Shirley Brady on February 14, 2011 06:15 PM
Bank of America reportedly exposes customer accounts online.
Chevron fined $8bn over Amazon 'contamination.'
Facebook sees small stake go to Kleiner Perkins Caufield & Byers.
FedEx lowers guidance.
Foster's announces it will spin off troubled wine unit.
Sony exec hints that company may pull out of Apple's iTunes.
Warren Buffett's Berkshire Hathaway increases Wells Fargo stake and liquidates positions in Bank of America, Nike,Comcast, NALCO, Nestle, Fiserv, and Loews.Continue reading...
Posted by Shirley Brady on January 12, 2011 06:15 PM
AP settles copyright suit against Obama "Hope" poster artist Shepard Fairey.
Apple shares hit all-time high.
Burger King tests first stuffed hamburger.
Chrysler reports global sales increase.
Conan O'Brien says he's happy with life, ratings post-NBC.
Discovery Communications CEO David Zaslav shakes up US network execs, promoting Eileen O'Neill to run TLC and Discovery Channel.Continue reading...
Posted by Caroline Smith on December 13, 2010 05:00 PM
BP oil spill fund offers fast-track payments.
eBay and BBH part company after marketing changes.
ESPN buys PVI intellectual property from Cablevision.
Gawker Media resumes publishing, serves as object lesson in password security.
Google launches site for teaching tech to parents; Google Mobile searches grew 130% in Q3.
Lions Gate loses Carl Icahn as a bidder.
Microsoft joins Expedia, Kayak to block Google acquisition; fends off Twitter rumors.Continue reading...


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Better living through chemicals – The Press & the Van Andel Institute
Yesterday’s front page of the Grand Rapids Press had an interesting article that raises some interesting questions.
The article was about new research being done at the Van Andel Institute for a new chemical spray that has “potential to boost agricultural production.” The article goes on to say that the “researchers have discovered a way to activate the hormone with a biodegradable spray that not only could ease global food shortages but maybe keep your grass greener in the summer, too.”
First, since the article states that this new research could help ease global food shortages it is worth asking the question if indeed there are food shortages around the world. According to organizations like Food First, the issue is not so much a lack of food, but who has access to food. The global food crisis that began in 2008 had more to do with food policy and food prices than it did with food shortages.
The Food First reports do acknowledge that drought in some parts of the world has limited to global food reserves, but is spraying chemicals (organic or not) on a plant to make it more drought resistant is a questionable solution. Wouldn’t the more appropriate response be to find out what is causing drought in the first place?
According to many recent scientific reports the number one cause of drought worldwide is global warming. If global warming is the main cause of drought, which leads to potential food shortages, should entities like the Van Andel Institute be looking into ways to reduce carbon emissions?
Second, as was already mentioned one outcome of this kind of research might be to “keep your grass greener in the summer.” This kind of application of such research certainly raises all kinds of questions about the waste of funds and which companies might benefit economically from a chemical which makes your grass greener. Historically, this has been the case with the use of lab-tested chemicals or genetically modified plants, where most applications are driven by profits and not improving access to food for people around the world. The profit motive certainly is what motivated the so-called “Green Revolution” of the 1960s.
Third, what has worked in terms of high yields in food production and sustainable farming practices is not modern technology and genetic research, but traditional and localized methods. The world is full of examples of local farming practices that are not dependent on genetic research such as the Navdanya food project in India and the millions of small farmers who are part of Via Campesina. These farmers and organizations not only practice sustainable agricultural methods they work to influence food policies that take the power away from multinational corporations which control much of the world’s food supplies.
Lastly, one thing that is missing from the Press story on the Van Andel Institute research is an alternative perspective. With such a critical issue as global food shortages, genetic modification and chemicals used on food plants the Press should have sought out other voices for their opinion on this matter instead of publishing an article that presents the research as fact and in an extremely positive light.


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Four men were arrested by the department of central goods and services tax and central excise (Kolkata South) for making fraudulent GST claims. They were claiming input tax credits (ITC) in the name of a network of firms that were non-existent and registered in Kolkata and Howrah on paper. GST office based in Kolkata indicated that the case cost the exchequer ₹500 Crore.
The Chief Judicial Magistrate Court of Alipore has remanded a week’s departmental custody for the mastermind, Pankaj Bagla, while the other three men have been sent to judicial custody for two weeks. It was reported that web of shell companies claimed the input tax credit for trading goods.
ITC is a tax component that a business pays while buying raw materials and the amount can then be used to reduce tax liability during the sale of the finished products. In other words, ITC can be claimed by a business that already paid GST during the purchase of the raw materials. The four arrested allegedly claimed ITC of worth ₹197 Crore from the government by creating fake invoices against fictitious business deals and supplies in the name of 86 shell companies.
A CGST official said, “Bagla, the mastermind, had been running this web for some time and defrauded the exchequer. We have sought his departmental custody. All four have been booked under Section 132 of the GST Act.” Sources familiar with the case said that an alert circular had been issued against the National Trading Company which is one of the shell firms used to route money.
All the 86 shell companies kept issuing fake GST invoices, with National Trading Company, which existed on paper, collecting ITC of worth ₹21.3 Crore. An officer said that the highest ITC of ₹101 Crore was claimed by another non-existent firm named Exacom Enterprise.


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OPENING a new business is hard enough in the current climate.
For one unlucky shop owner, however, the experience has been made even more difficult by not one but two disasters.
Despite opening just one month ago, Lindsey Adam has had a masonry fall outside her shop and has now had to close the business for up to six weeks as a result of flooding.
The first catastrophe happened just two days after she opened Bonkers gift shop – situated in the basement of a tenement building in Hanover Street – when masonry fell from the premises above into her doorway.
The incident meant scaffolding had to be erected in front of the entire building, making it even more difficult to attract new customers.
The masonry fall also meant Ms Adam faces a repair bill running into thousands of pounds.
As if that wasn’t unlucky enough, a burst water tank in the Starbucks above then completely flooded her shop just a month later, destroying half of her stock and resulting in around £10,000 of damage.
The gift shop will have to remain closed for up to six weeks as the ceiling and walls are dried out and the mess is cleared up.
Ms Adam said: “We had to get something done after the masonry fall as it could be dangerous and we didn’t want it falling on someone’s head.
“We don’t know yet exactly how much it’s going to cost but it’s going to be thousands and thousands.
“We put up a temporary sign on the scaffolding saying that we’re open and, despite it not being the best look for outside your building, things were going quite well up until [Thursday] when our shop was completely flooded.
“The ceiling’s down, the walls are falling down and half the stock is ruined.
“It’s been horrendous, I don’t usually attract such bad luck.
“We’re going to be closed until the middle of October, so we’re going to miss out on the start of the season with people buying Christmas stuff and Hallowe’en. I’m gutted.
“My manager and myself have been working flat out over the past few weeks to get everything ready and all our hard work has been ruined.”
Ms Adam already runs a successful branch of her gift shop – which sells cards, wrapping paper, scented candles and photo frames – in St Andrews, and she hopes her venture in Edinburgh city centre will follow in its footsteps when it eventually reopens.
She added: “It was going well because people know us from St Andrews and we have loyal customers. It’s been a setback but we will open again and hopefully it won’t take any more than six weeks.”
A Starbucks spokeswoman said: “It’s a very unfortunate situation and we were saddened to discover the water damage downstairs and the inconvenience it has caused.
“We acted immediately and had an emergency plumber attend to resolve the matter. We’ve offered support to the gift shop to help get it up and running.”


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Stone Mountain, GA – April 26, 2012 – Heatcraft Worldwide Refrigeration, a leading provider of commercial refrigeration products including Kysor/Warren brand supermarket display cases announces its presence at FMI 2012, a premier tradeshow for the retail food industry. During the event, held April 30 - May 3 at the Dallas Convention Center, Heatcraft will exhibit a wide variety of products that emphasize its commitment to providing sustainable and innovative refrigeration solutions to customers.
“We are very excited to have a presence at this premier event,” said Larry Golen, Vice President and General Manager for Heatcraft. “FMI 2012 presents a unique opportunity to showcase our product innovation while directly engaging with customers about quality solutions for their refrigeration needs.”
Two recently launched Heatcraft products focused on sustainability for grocery retailers will be among items showcased during the three-day exhibit event. They include the popular line of STRATUS Reach-In Door Cases from Kysor/Warren featuring enhanced merchandising capacity and best-in-class energy savings; and the new SunSource™ Microchannel Air-Cooled Condenser designed to reduce energy consumption during daily peak demand hours using solar power.”
“The Heatcraft booth will also feature a dedicated customer engagement area where invited customers will get a first-hand look at upcoming products such as the new STRATUS Wide Island Case, and the chance to provide feedback on what they would like to see in next generation refrigeration equipment designs.”
“We value our customers’ opinions and look forward to displaying the wide range of refrigeration solutions we have to offer the food retail industry,” said Grady McAdams, Vice President of Sales and Customer Service for Heatcraft.” And with the addition of Kysor/Warren to our family of quality brands, this means even more innovative products designed for supermarkets.”
Although a long time exhibitor at the biennial show, this year’s event will mark the first time Kysor/Warren products will be exhibited since the company was acquired by Heatcraft in 2011.
Visit Heatcraft during FMI 2012 at booth location #6004. To learn more about Heatcraft Worldwide Refrigeration, please visit Heatcraftrpd.com.
Heatcraft Worldwide Refrigeration is a global leader in the commercial refrigeration Industry serving over 70 countries worldwide providing its customers with a wide range of innovative refrigeration solutions. It is a subsidiary of Lennox International Inc. (NYSE: LII), which is a global leader in the heating, air conditioning, and refrigeration business markets with over 13,000 employees worldwide and headquartered in Dallas, Texas. Already a leader in the Global market in terms of customer service, Heatcraft Worldwide Refrigeration is additionally focused on the environment providing energy saving products and technology controls with advanced sustainability initiatives under its label E Solutions™. For more information, please visit HeatcraftWWR.com today.
Heatcraft Refrigeration Products, LLC is a business unit of Heatcraft Worldwide Refrigeration operating in the United States, Canada and MEXICO MANUFACTURING premier commercial refrigeration products under the BOHN™, Kysor/Warren, Larkin™, Climate Control™, Chandler™ and InterLink™ brands providing customers with advanced refrigeration products through superior innovation with a commitment towards continuous improvement, highest standards of quality & service, and a driving need to be the first choice in refrigeration solutions. For more information, please visit Heatcraftrpd.com today.


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Eurogamer has begun selling tickets for the upcoming Eurogamer Expo and the GamesIndustry.biz Career Fair, set to take place at the Old Truman Brewery, October 28-29, as part of the London Games Festival.
Each ticket for the events costs GBP 5 with all proceeds going towards the GamesAid charity. Each day of the event has a limited number of available places with no chance of entry once sold out.
The Eurogamer Expo is a two day event for consumers, offering members of the public a chance to play high profile titles such as Fallout 3, Far Cry 2, LittleBigPlanet, Mirror's Edge, Prince of Persia, Street Fighter IV and Tomb Raider: Underworld.
At the GamesIndustry.biz Career Fair attendees will be offered the opportunity to advance their career in the industry by putting them face to face with leading actively recruiting studios and publishers. Among those set to attend are Starbreeze Studios, Crytek, Realtime Worlds, Relentless Software and Kuju.
Registration for the Eurogamer Expo is available here.


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It would not be difficult for you to recall the aggressively competitive duos in the field of advertising such as, Coca-Cola – Pepsi; Pepsodent – Colgate; Mountain Dew – Sprite and Horlicks - Complan, in the late 1990s and early 2000. While they hated each other to the extent of humiliating their competitor’s brand ambassador, we quite enjoyed their warring ads.
It was entertaining to analyse the tug of war while sitting back and sipping coffee. After every ad war, a period of comfortable calmness would follow only to return with a subtle contempt for competitors during mega events such as the cricket world cup or the screening of Bollywood blockbuster films.
Competitive Advertising is Omnipresent
Post the Cola war phase in the late 1990s, many leading marketers have gone on record to assert that there is nothing wrong in naming competing brands in an advertisement, whether overtly or discreetly. In short, they believe that competitive advertising is good for promoting healthy competition. This holds true especially in the FMCG sector.
While in the last three years we have not seen many instances of murky mudslinging, this trend is gradually manifesting itself in the social and digital media domain, though in its own subtle ways.
The latest case in point is the ad war between the two leading English dailies of India – Kastoori & Son’s The Hindu and Bennett, Coleman & Co’s The Times of India - which became a major topic of discussion in the media and advertising industry. While The Hindu claimed that it is ‘ahead of the Times’ and that ‘government malfunction matters more than wardrobe malfunction’, the TOI retorted, ‘Stuck with news that puts you to sleep?’. Besides television, both the media brands chose social media as the platform to get back at each other.
Invariably the campaigns snowballed into visible discussions. And as users often take an extremist and rather overt position on social media, public outcry came free for the warring brands. The ads went viral on social media, creating over 1 lakh views for each. Similarly the recent Colgate-Pepsodent ad war also went viral on social networks as people circulated jokes on whose breath smells better and why. While Colgate claimed that it provides 100% germ protection, Pepsodent went a notch higher to assure 130% germ protection.
But on Social Media?
In both the above examples, Google’s video giant, YouTube, played a crucial role, apart from Facebook and Twitter's debate on the morality of advertising standards. A similar practice was seen in the Horlicks-Complan ad war in mid-2000, in which both claimed, almost scientifically, the superiority of their protein-mineral rich maltose powder. The natural question that comes to mind is whether social media needs to be monitored separately because it attracts widespread commentary and debates, and whether there should be a clearly stated policy to regulate social and digital media ads, as in television and print media. The rule book suggests that there is no immediate need to do so.
The regulators – Competition Commission and the Advertising Standards Council of India (ASCI) are up in arms for about two years now to track online advertisements. In August this year, the Advertising Standard Council of India upheld complaints against three online ads and one YouTube ad for the first time. Emami Fair and Handsome cream, in its online ad, showed a flow chart that depicted problems that dark skinned people face. While it cannot be denied that the number of such instances has decreased substantially in the last five to seven years, is also true that the sensitivity has gone up.
Yet, the ASCI, at several instances iterated that digital advertisements will have to be scrutinized more often, considering the viral and interactive nature of the medium.
Until Monitoring Strengthens
The digital competitors have clearly exploited the loopholes of these rules to a large extent. Almost all e-commerce web portals and travel sites of India have gently compared their service- faster, cheaper, better and of course, the best.
Globally, there are innumerable cases of strongly comparative advertising on social media including some leading brands. But this trend is yet to become rampant among Indian advertisers.
Technicalities suggest that there is a thin line between comparative and competitive advertising. While competitive ads are overtly defaming, comparative advertisements are subtle and indirect. Today, comparison is at the root of modern advertising. However, if one has to go by the Advertising Standards Council of India's rule book, both are unfair. Surprisingly, according to the Monopolies and Restrictive Trade Practices Act (the law which regulates unfair advertising practices), there is enormous room for both competitive and comparative advertising in India across all media platforms.
The rule clearly states that an advertisement can declare that the advertised goods are the best in the world, even though this declaration is untrue. An advertisement can state that the advertised goods are better than those of its competitors, even if this statement is untrue. It cannot however state that the competitor’s products are bad.
To conclude, legally, it is fair to lie, mislead and exaggerate. Else it would make advertising dull and boring. But it is unfair to defame or insult another brand and its image. As brands inevitably take the social media route, their pungent advertisements will follow suit and would naturally raise alarms for users, media owners and lawmakers to ask – how do we control this?


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As fall approached in 2020 and the pandemic continued to impact Connecticut, Southbury residents expressed concerns with possible exposure to COVID-19 in public buildings.
This concern prompted Southbury Emergency Management Director Steve Schnell and his team to research and provide additional ways to protect the public. As a way to complement mask wearing, social distancing and other safety protocols, the Southbury Emergency Management team discovered a company that created ultraviolet LED smoke detector-like devices that target the inactivation of aerosolized viruses like the coronavirus.
“These devices were brought to our attention by members of the (Southbury) Board of Finance and they put us in touch with GE Current,” Schnell said. “The GE Current company developed the devices and were offering devices for test evaluation purposes. This is the first disinfection lighting solution to be used in high-traffic areas in our (Town Hall) building ”
In November, GE Current gave Schnell five devices to install in Southbury Town Hall. Devices were installed at the front entrance, side entrance and staff entrance of the Southbury Town Hall. The remaining devices were placed at the entrances of the rest rooms in the building.
“We put in a request and we got five devices,” Schnell said. “Our maintenance people installed them in Town Hall. They are low-voltage devices that look like smoke detectors. But because they need to be connected to an electrical source you need to have an electrician install them. Ours have been installed since the end of November.”
The LED ultraviolet device was announced by GE Current, the company that makes the product, in September 2020.
“Production for the device is ramping up,” said Tom Boyle, chief technology officer of GE Current, a Daintree company. He added that two other towns in the country are preparing to install the devices, while they are already used in some dentist offices, schools and mixed-use commercial buildings.
“The product is still very new in the market and Southbury was able to get access to some of our early production. We do not believe there is another town in Connecticut who has installed the solution. But orders are growing rapidly and this may change at any time.”
How does it work?
“Certain UVC (Ultraviolet C light) wavelengths offer germicidal benefits by degrading the genetic structure (DNA) of viruses to the point they cannot replicate,” Boyle said. “UVC disinfection has been used in hospitals for years and increasingly in public spaces as emerging data supports UVC applications at doses below exposure levels defined by the International Electrotechnical Commission and American Conference of Governmental Industrial Hygienists.
“UVC solutions can help reduce viruses in air. Based on testing using ... [the] technology will provide 99 percent inactivation with less than six hours of exposure for seasonal coronaviruses, including SARS-CoV-2, the virus that is known to cause COVID-19, when used as directed.”
According to Boyle, GE Current has completed in-situation testing with its devices on the aerosolized virus, bacteriophage MS2. Bacteriophage MS2 is a nonenveloped virus that is commonly used as a surrogate for viruses that are pathogenic to humans.
Bacteriophage MS2 is generally understood to be more resistant than enveloped viruses (which include coronaviruses) to UVC. The bacteriophage MS2 testing resulted in an 88 percent inactivation of the aerosolized virus in a 10-foot x 10-foot room in four hours.
Schnell said the product and its use in the Southbury Town Hall is still being evaluated.
“The devices emit ultraviolet light and it’s been proven to inactivate airborne diseases,” Schnell said. “We are still evaluating how they are doing but we decided to purchase two more for our public works office building and we are considering getting more for other buildings. They cost a little over $500 each.”


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Your favorite Prepared Foods' editors dish out their expert opinions on recent trends in Our Viewpoints. David Feder, Bob Garrison and Nick Roskelly each have their own unique insights to help you keep up with the ever changing food and beverage industry.
By now, we've all read about the surge in home-cooking. Spending more time at home during the pandemic has provided the context for consumers to explore the food preparation spectrum, from making soups and casseroles to researching global foods and flavors and of course making a valiant attempt at baking.
March is National Nutrition Month, yet I can’t help but think of the meme currently circulating: “Welcome to the One-Year Anniversary of the Two-Week Lockdown!” The past year has been a mixed blessing, especially when it comes to health and nutrition.
There are two overarching trends greeting us as we enter the third decade of the 21st century. The first is a hyper-awareness of the foods and beverages we consume that surpasses anything preceding or predicted. The other is the synergy between food makers and consumer demands ignited by this awareness.
According to the International Food Information Council’s 2020 Food & Health Survey, 85% of Americans have made at least some change in the food they eat or how they prepare it because of the coronavirus pandemic. Do we expect consumers to return to pre-pandemic behaviors?
Understandably, it hasn’t been the best time for CPG food and beverage processors to unveil new products to retail customers or their consumers. Yet it doesn’t have to bring an end to strategic innovation—involving insights, ideation or product development.
June is Men’s Health Month, and June 10-16 is designated as Men’s Health Week. It’s not quite certain how we guys landed both a week and a month at the same time, but it probably has to do with the need to be told to do something more than once. In this case, it’s needing to be nagged to take care of ourselves.
By the time I finish writing this sentence, I imagine another industry trade show will have been cancelled. In my 20 years of covering the food and beverage industry, I have never witnessed such widespread disruption to business. I don’t believe any among us have been left unaffected by the current crisis.


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Today Apple announced the iPhone 8 and 8 Plus, both of which feature a glass back, wireless charging capabilities, new sensors, and a Tru Tone display. A more in depth look can be found here. Pre-orders open up on September 15th and will be available on the 22nd at $699 for the 8 and $799 for the 8 Plus.
Probably the biggest surprise was the iPhone X, which has a boat load of new features. A new camera system, an improved touch system, a more durable glass frame, wireless charging, facial recognition, Animojis (Emojis which are animated based on facial movements), and a screen which encompasses the entire front of the phone. At $999, the iPhone X is set to release on November 3rd. More information can be found here.
Apple also announced the Apple Watch 3, which improves on many of the features of the series 2 watches, adds some new ones, and is only two sheets of paper thicker that the previous model. Cellular connectivity as well as cellular LTE are among the biggest features. Retailing at $399 and $329 without the cellular features, the Apple Watch 3 will be available for pre-orders on September 15th and will ship on September 22nd. More info can be found here.
Finally, the new Apple TV was revealed to have 4K HDR with no additional cost. Movies that customers already own will be upscaled to 4K at no additional cost as well. This new Apple TV will also be sold in seven additional countries. Pre-orders will open on September 15th and will be coming out on September 22nd, with a retail price of $179. More info can be found here.


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Will a “real woman” please stand up? In the age of Photoshop, plastic surgery and celebrity idolatry, it seems women are constantly debating what is considered a “real” woman. And, as I found out recently when I posted a picture of myself looking fit and healthy in workout clothes with my three sons (playfully asking the question “What’s your excuse?”), apparently I don’t count. My voice as an apparently nonreal woman counts so little, in fact, that Facebook recently banned me temporarily from the site — shutting down my account for almost three days for supposedly violating the site’s terms of service — after a number of users flagged a post of mine venting about the damaging culture of fat acceptance. After my post had garnered thousands of likes, comments and shares, these users apparently reported what I wrote as “hate speech.”
While I accept Facebook’s explanation that the post was pulled down automatically, as can happen when users flag content as offensive, it’s amazing to me that a company that hosts so much conversation and debate isn’t far more proactive about making sure that controversial views don’t get squelched on its network. It’s also amazing, frankly, that it took such a long time to get reinstated. Most disturbing, however, is that we now apparently live in a culture where other people deliberately try to — and feel entitled to — censor speech they dislike by labeling it hateful.
Have we really created a society so sensitive and weak that we cry “hate speech” whenever someone points out the fine line we’re walking as a nation by promoting a healthy body image above actual health? Has the growing movement promoting “fat acceptance” and even “fat pride” gone so far that now we need a countervailing movement promoting “fit pride”?
We may just. Apparently, in America today, the only “real” women are the overweight. And, of course, to some extent that’s true. Despite the media’s fixation on models and thin actresses, the majority of Americans do not reflect the extreme thinness promoted in ads, magazines and TV shows. America is overwhelmingly overweight. According to the Centers for Disease Control and Prevention (CDC), over two-thirds of Americans above the age of 20 are overweight or obese. Roughly 18% of kids are obese and 30% are overweight, according to the CDC. Our obesity crisis accounts for 21% of our health care spending, according to a study in the Journal of Health Economics — roughly $190 billion a year. If we continue at our pace, by 2030 nearly half of Americans will be obese.
(MORE: The Fat-Acceptance Movement)
But we’re still prone to denial.
A study published recently in the journal Obstetrics & Gynecology found that 1 in 4 overweight women thinks she’s thin, an understandable misperception given that being overweight has become so common. We’ve encouraged acceptance of this new normal by literally making room for our heavier culture. Often termed “vanity sizing,” what was once a “size 14” 30 years ago is now a “size 8.” You will find fashions accommodating young girls with large midsections at any clothing store. Popular chain stores that don’t accommodate are criticized and find themselves the targets of campaigns by fat-acceptance advocates — as was the case for Abercrombie & Fitch earlier this year.
Overweight women are now standing up (often half-naked) in defiance, exclaiming: “I have a beautiful ‘curvy’ body” and “This is what a real woman looks like.” These campaigns send a message that being overweight is normal. Well, plenty of things are normal that shouldn’t be. It is normal to eat fast food. It is normal to play video games all day. It is normal to not exercise. It is normal to have a family member with diabetes. It is normal to gain more than the recommended 35 lb. (16 kg) during pregnancy.
Being overweight is now normal; being at a healthy weight is not. Does one’s body define how healthy someone is? Not always — but in most circumstances, yes. New research just out in the Annals of Internal Medicine casts serious doubt on those often touted studies saying you can be fit and fat; according to the study, as summarized by TIME, “metabolically healthy obese participants had a higher risk of dying earlier or having heart-related problems than those who were normal weight and also metabolically healthy.”
Constant campaigns promoting self-acceptance and embracing one’s curves are placing the psychological need for a positive body image ahead of health. When you normalize a problem you create complacency. After all, you can’t fix a problem if you don’t see a problem.
Sure, the majority of women in America are now overweight or obese, but does that make the women who are of healthy weight not as “real” as the women whose images are strewn around in body-acceptance campaigns?
Have we accepted this new normal to the point that being a healthy everyday individual shatters the self-images of overweight people who think it’s impossible to become fit without Photoshop, plastic surgery or a personal trainer?
(MORE: You Can’t Be Fit and Fat)
A new minority of healthy people are stepping out of the shadows and showing that you can be successful by following the Surgeon General’s guidelines: exercising daily, eating nutritious meals and gaining no more than the recommended pregnancy weight. We shouldn’t be condemned. Demonstrating possibilities in one’s personal health should not be defined as promoting bullying, fat shaming or gloating.
However, in this new normal, being healthy is shocking. We’ve become a trophy-for-each-kid kind of culture. We don’t want to applaud those who follow the rules, do their homework and achieve their personal goals. It’s easier to say someone is a bad parent or a bad person (as people said about me after I posted my picture) than it is to take personal responsibility for why you choose not to make health a priority.
When people shame healthy and fit individuals for perpetuating an “unattainable” body image, they’re also dismissing the real health benefits that fit bodies represent. After all, healthy people breed healthy children, and healthy children create a healthier future. Why shouldn’t that be celebrated?
So, let’s set the record straight. There’s the normal, overweight woman. There’s the photoshopped fake woman — and then there’s an array of real women.
I, Maria Kang, am a real woman — and I’ve stood up. It’s not hate speech to be fit and proud.
Kang is a freelance writer and founder of Fitness Without Borders. She blogs at MariaKang.com. The views expressed are solely her own.
MORE: The Art of Aggregation: Angelo Musco’s Bodyscapes


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Victoria's Mask Rules Are Being Relaxed from Midnight on January 17
The government has announced face coverings will no longer be mandatory in all public indoor settings.
Many Victorians started the new year getting reacquainted with their face masks, after mask-wearing rules were tightened on December 31. Now, the government has announced the state will revert back to its former, more relaxed set of mask regulations, which had been in place from December 6. Starting from 11.59pm this Sunday, January 17, face masks will no longer be mandatory in all public indoor settings.
With many of the rules being relaxed, you'll no longer need a mask when in a restaurant, at a cafe, in a church, library or indoor workplace. Of course, under the loosened restrictions, people will still be required to don a fitted mask in certain circumstances, including when riding in a ride-share or taxi, or using public transport. Masks are also a must when inside a shopping centre and its retail stores, any large retail store over 2000 square metres, indoor markets and hospitals. Plus, the face coverings will be required at airports, as well as on all domestic flights in and out of the state.
While the new rules are set to be a lot more relaxed than we've become accustomed to in the past couple of weeks, you'd best not go losing the mask completely just yet — the Victorian Government is advising people to always carry one with them unless they've got a lawful reason not to. It's also still "strongly recommended" that you pop a mask on in any situation where you can't maintain 1.5-metres distance from others.
New mask regulations will come into effect from 11.59pm on Sunday, January 17. For full details of the updated rules, see the Victorian Government's coronavirus website.
Published on January 14, 2021 by Libby Curran


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Caracas, Mar 14 (RHC-PL)-- Since Tuesday and until Friday, Caracas is the host of the Venezuela-Cuba Enterprise Meeting, wanting to strengthen bilateral trade and foster the economic agenda of Venezuela.
The Cuban delegation is headed by Orlando Hernandez, president of the Chamber of Commerce of Cuba, with its members to join the debates on new ways to strengthen trade, with 200 Venezuelan entrepreneurs.
The meeting is sponsored by FEDE Industria, an organization that groups businessmen who represent micro, small and medium-sized Venezuelan industries.
Before starting the meeting, the president Orlando Camacho, told the press that representatives of tourism, food production, chemicals, lubricants, electromechanical, and others would attend.
Camacho also said that these businessmen will offer their products within an agreement framed to look for solutions that would allow Venezuela to contribute to Cuba, while at the same time earning hard currency for the national economy.
He added that the meeting will produce the working guidelines for Cuban and Venezuelan businessmen, and ultimately, the agreements will be able to decide what the export intentions will be.
In turn, the Cuban part will present the investment potential at the Mariel Special Development Zone.


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Expedia plans Central Florida development
- Tour Operators
- Sep 24, 2015
Expedia, one of the world’s largest online travel booking sites, is looking to expand its presence in Central Florida. Under a new development plan, six new Expedia CruiseShipCenters will open in Orlando and Kissimmee in the next three years. Development into Central Florida is part of the company’s plans to find franchise partners around the country, including in New York, Los Angeles, San Francisco, Atlanta and Seattle.
The franchise has 200 retail centers open or under development, bringing back an in-person travel-booking experience. By the year 2020, company expect to more than double their distribution network, with more than half of their growth to come from the United States.


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The Tame Apple Press cheered when Apple offering the M1 iPad Pro in configurations with 8GB and 16GB of RAM as showing Jobs' Mob’s superior technology prowess. The M1 iPad Pro comes in two memory configurations; the 128GB, 256GB, and 512GB models feature 8GB of RAM, while the 1TB and 2TB variants offer 16GB of memory, the highest ever in an iPad.
However, it turned out that Apple ordered developers that they were not allowed to write apps that actually used that amount of memory. Jobs' Mob said that any developer who writes an Apple which uses more than 5GB of memory will see it crash.
Apple’s antics were whistleblown on by graphic and design app Artstudio Pro developer on the Procreate Forum,.
The developer said that after making stress test and other tests on the new M1 iPad Pro with 16GB or RAM, it turned out that app can use ONLY 5GB or RAM.
“If we allocate more, app crashes. It is only 0.5GB more than in old iPads with 6GB of RAM I suppose it isn't better on iPad with 8GB."
Following the release of its M1-optimised app, Procreate also noted on Twitter that with either 8GB or 16GB of available RAM, the app is limited by the amount of RAM it can use.
The previous maximum RAM in an iPad was last year's iPad Pro which featured 6GB of RAM, regardless of storage configuration. Given, a 5GB limit on apps imposed by iPadOS wouldn't necessarily ring any alarm bells as developers would have access to the majority of the available memory. Although, with the M1 iPad Pro, developers cannot tap the full potential of the available hardware.
The Tame Apple Press has done its best to reassure fanboys that they did not waste money on RAM on their “technological marvels” by pointing out that the added RAM, especially in the higher-end 1TB and 2TB models, will still benefit the user by allowing them to keep more apps open in the background.
iPadOS itself can access the M1's entire pool of unified memory, while apps can reportedly only access 5GB of it.
However, it does confirm the often-repeated mantra that Apple’s useless iPadOS doesn't take full advantage of the available hardware and potential of the iPad Pro.
The Tame Apple Press has also hinted that Apple fanboys should wait until Apple’s Worldwide Developers Conference on June 7, where it's expected to announce iOS 15, watchOS 8, macOS 12, tvOS 15, and iPadOS 15.
Bloomberg has reported that iPadOS 15 will include the biggest redesign to the iPad home screen since the iPad first launched, including the ability for users to place widgets anywhere on the grid.
Even if that were the case, it is rather strange that Apple and its Tame Apple Press encouraged people to waste money on RAM while issuing orders to developers not to allow it to be used.


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RMH Systems, one of the largest industrial equipment and systems distributors in Iowa has received the “Platinum” Dealer Award in exceptional sales and service. This is the fourth year in a row for RMH Systems to receive this recognition from Avery-Weigh Tronix, one of the world’s leading suppliers of industrial scales.
“We are truly honored our scale division team members received this acknowledgement of appreciation. At RMH Systems we come into work every day with a focus on providing products that will maximize our customers productivity,” said Tom Howard, President and CEO. “By partnering with reputable manufacturers and drawing on the latest research and technology throughout the nation, RMH Systems offers a product portfolio that is second to none; providing business focused products and solutions under several of the industry’s most established brand names, including Avery-Weigh Tronix.”
RMH Has a National Reputation for Material Handling, Packaging, Weighing Solutions
Since 1938, RMH Systems has earned a solid national reputation for their material handling, packaging and weighing solutions. For more information contact RMH Systems at (800) 851-4995 or visit us at www.rmhsystems.com.


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In the aftermath of the oil shock, a new segment of the economy has been lifting the country on its strong shoulders and carrying it to a different growth path. And it's not the segment that many pundits had anticipated.
When the oil slump hit late last year, most experts anticipated that, in time, there would be a rotation that would lift the economy out of its doldrums, with new leadership taking over from the energy sector to drive the next phase of growth.
Much of that faith was grounded in the export-intensive manufacturing sector, which looked destined to enjoy buoyant demand for its products from the resurgent U.S. economy.
Well, we're seeing a rotation, and a new leader emerging. But it's not manufacturing. No, it's the services sector of the economy that has picked up the ball and run with it.
The services sector – things like wholesale and retail trade, transportation, tourism, financial services, education, health care and government services – accounts for 70 per cent of Canada's economy. And this year, it's accounting for all of the growth, and then some.
Gross domestic product in services for the first eight months of this year (the latest data available) was up 2.2 per cent from the same period last year. In the same time, GDP from the side of the economy that produces goods – primarily natural resources, manufacturing and construction – fell 1.1 per cent. As of October, the services sector has added nearly 240,000 jobs this year; the goods sector has shed 67,000.
Manufacturing, far from taking the lead, has eked out just 0.7-per-cent growth in output, and has added a modest 12,000 jobs. The country has hired more bankers, insurance and real estate professionals than factory workers this year.
If anything, the divergence is becoming even more stark. Last month, the Canadian economy generated a sizzling 44,400 net new jobs. The goods sector created none of them; indeed, goods-producing employment fell by 14,400. The services side cranked out 58,800 jobs in the month.
One contributing factor to services' success may be the oil-related drop in the value of the Canadian dollar. As Bank of Canada Governor Stephen Poloz has pointed out, services exporters get the biggest benefit from a cheap loonie, because they don't have imported inputs in their products, unlike many goods producers who suffer higher input costs owing to the weaker purchasing power of the Canadian dollar.
As of the second quarter (the latest data available), services exports were up a decent 1.4 per cent from the third quarter of last year, which was about the time the loonie went into its swoon in earnest. Over the same time, goods exports were down 1.1 per cent.
But longer-term evidence suggests this isn't just a short-term, currency-juiced phenomenon. Since 2000, services' share of Canadian GDP has risen to 70 per cent from 65 per cent. And while services account for only about 15 per cent of Canada's exports, a recent Conference Board of Canada report showed that services have accounted for three of the four fastest-growing export industries over the past decade, led by financial services. And while non-services employment has barely grown at all over the past quarter-century, services employment has swelled by nearly five million jobs, or more than 50 per cent.
One long-standing concern is that this transition into a more service-oriented economy has contributed to Canada's widening income gap, as high-paying skilled manufacturing and resource jobs are being replaced by low-paid retail staff and fast-food servers. Average weekly wages in the service sector are, indeed, 25-per-cent lower than in the goods-producing sector, weighed down significantly by the relatively low wages in retail, accommodation and food services, which account for nearly a quarter of all service jobs.
But this may be changing. Employment in these low-paying segments has actually declined slightly this year; instead, the job growth has come in relatively high-paying segments such as the financial sector and business, professional, scientific and technical services. Indeed, the Conference Board argues that growth in "tradable services" – the kind that can be easily exported to foreign customers – offer wages 37-per-cent higher than manufacturing jobs.
With Canada looking increasingly at a global disadvantage on the manufacturing side, the expansion of services exports looks to be a natural and healthy transition for an increasingly knowledge-based economy. It leverages some of the country's biggest advantages on the world stage. Perhaps as the country adjusts to the erosion in its resource sector, the ground has been cleared for another sector to emerge.


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Speaking at the international advertising festival Cannes Lions 2009, Olander criticised “advertising for the sake of advertising” and urged the industry to understand the lives of consumers and how brands can fit into this to provide services and utilities, such as Nike+.
Olander said, “For Nike, we start by looking at how we can make the products better but that is just one part, and everything else that surrounds the consumer’s relationship with the product should be a source for providing understanding.”
“We have been working with Google to tap into this and the nature of open source to take existing things and mash them together, and this is where it becomes increasingly powerful and enriches what people do. It also can become a new source of revenue.”
“Digital is such an enormous enabler but you have to do more than the expectation. If you don’t have a clear understanding of the consumer journey and if you don’t understand how your brand fits into the consumer’s life then advertising can be annoying at its best or irrelevant. However, if it does fit it can become the starting point of a relationship.”
Olander said Nike had undertaken research which found that users would pay money for anything that could make them feel better.
This story first appeared on newmediaage.co.uk


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Is Lady Gaga a Facebook killer?
Lady Gaga is launching her own social network this summer, but the niche social website isn't meant to lure people away from Facebook, said Matthew Michelsen, CEO and founder of The Backplane, the start-up company that is building Lady GaGa's social network.
"We love Facebook, we embrace it. Facebook's around your social graph; we want to organize people around interests, affinities and movements, so to actually push them into places of things they love, like they're church or being a Little Monster," Michelsen said on CNBC's Street Signs.
The website, Littlemonsters.com, which is named after the nickname GaGa calls her fans, is a one-stop destination where fans of the pop star can find all things related to Lady GaGa. The social network is currently invite-only, but people wanting to join can request an invitation. The official launch of the website is not until later this year, Michelsen said.
The Backplane is a "social platform aimed at helping niche communities build, host and grow robust and engaging online systems," according to the company blog. As part of the niche social platform, the company is working to make it so that fans will also become tools for advertising. Engaged users, or "influencers," are a powerful way to spread a message, Michelsen said.
"When we look at traditional forms of advertising, we like to actually look at influencers, so if I have Lady GaGa advertising something or endorsing something, it doesn't carry the same weight, especially with the Little Monsters, as if we actually have our 20 top influencers carrying that message. So we are actually trying to reverse this trend. We want to be what's next in advertising," Michelsen said.
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© 2012 CNBC.com


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Posts Tagged ‘Gingerbread’
If you’re one of the owners of the Froyo-powered Samsung Galaxy Tab, you must be wondering when its next generation Android iteration will be getting an upgrade. According to sources, its Gingerbread update will be coming in a few weeks. It will be rolling out to the SIM-free 7 inch Korean-made tablets first, followed by Tabs with contracts. Three said on Twitter that Gingerbread would be rolling out to the Tab soon. Sadly, there was no word on the exact date.
Unfortunately, just like all updates that roll out for Samsung devices, users would have to connect their Samsung Galaxy Tab to a PC and update via Samsung Kies. Kies tends to be buggy, which not a lot of Samsung enthusiasts are looking forward to.
What should you expect from the update? Among these additional features is a download manager, tweaks to the UI, and many more. Users will also experience better performance.
Now that the Tab will be getting the Gingerbread update, when will it be getting the tablet-optimized Honeycomb? Unfortunately, news broke out that the tablet would not be getting the Honeycomb update. Despite this, the Samsung Galaxy Tab is still a sound tablet compared to others in the market.
Don’t worry too much about the Tab not getting Honeycomb. The dual-core-powered extremely slim Galaxy Tab 10.1 is expected to arrive on the 4th of August will come with the latest Android OS right out of the box.
The Taiwanese phone manufacturer is now testing the Gingerbread update on its award-winning handset the HTC Desire. Where does this news come from? This comes from the company’s official Facebook page. This means that the handset’s users will finally get to enjoy the Android Gingerbread update they have been waiting for.
The Desire’s users have experienced a rollercoaster ride when it comes to this update. After waiting for it to roll out for a long time, HTC announced that the smartphone would never get the update, due to inadequate memory. Hours later, the Taiwan-based company did a complete turnaround by saying that the Desire would be getting the update. However, a few elements would have to be omitted to make way for Gingerbread.
Apparently, the Sense UI is the culprit. It consumes too much of the phone’s memory. Users would have to choose between sticking to Froyo (Android 2.2) if they wish to keep the Sense UI around. If they really want to enjoy more from Gingerbread, they would have to say goodbye to Sense, which is among the best tweaks to Android in the market.
Veering away from the topic, if you’re a Desire HD user on Three, you’ll be happy to know that you will be getting the Gingerbread update shortly via an OTA update. Three announced this through a tweet on Twitter. This will allow users to enjoy a few more tweaks to the interface as well as video calling support using the phone’s secondary camera.
It seems that there’s no stopping HTC from delivering Gingerbread to their Desire users. After all, they are one of the few phone manufacturers who spoil their users rotten. You’ll be happy to know that HTC is doing all it can to get Gingerbread rolling.
This, however, makes us wonder. Since the Ice Cream Sandwich is on the horizon, will the HTC Desire experience the same problem, or will it ever get the ICS at all?
HTC Desire users have been waiting for the Gingerbread Android 2.3 update for their award-winning handsets. However, what they got during the wait was a roller-coaster ride.
HTC promised that the Gingerbread would be rolling out, only to announce that the handset would never the update. Soon after, the Taiwanese phone manufacturer made a complete turnaround and announced that they are currently trying to free the phone of its native apps to make way for Gingerbread. Now, they’re getting rid of Sense features to make way for the Gingerbread update, which will make the update available next week.
Posted on HTC’s official Facebook page, they wrote, “A quick update on this, we’re planning to release the roll-out timeframe for the new Android 2.3 Gingerbread ROM for Desire (GSM) early next week. Thanks for your patience.”
HTC is making this update possible through the booting of some Sense UI features. If this doesn’t sit well with you, the Taiwan-based firm will be giving you an option. If you want to keep the Sense UI, you can choose not to install the Gingerbread update and stick with Froyo (2.2). If you really want Gingerbread, you can choose to install the ROM, which will get rid of a few Sense features.
Sense is a tweak to the Android OS. A Similar tweak by other manufacturers is Motorola’s MOTOBLUR. However, the difference between the two is users absolutely hate MOTOBLUR, and users actually like Sense. This is the reason why Motorola gave their tweak the boot. HTC users might let go of Sense with a heavy heart. Despite losing Sense, there are a number of advantages offered by Gingerbread, which might weigh in favor of the update.
Despite the roll out next week, there has not been an actual release date announced. We’ll let you know once get word of the actual release date.


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The world drinks a whole lot of coffee. And in the process produces over six million tons of coffee grounds, according to the International Coffee Organization. And much of that ends up in landfills. But a new study shows they could instead be repurposed to make biodegradable plastic.
Several bioplastics made from plant material instead of petroleum are available on the market today. Most are made by extracting starch from corn and converting it into a plastic known as polylactic acid.
Recently scientists have been working on making plastics and chemicals from cellulose, the main component of plant cell walls that can be extracted from waste paper. One team recently made a transparent plastic from starch and cellulose, while another has reported a cellulose-based foam that is a better packing and insulation material than commonly used Styrofoam.
Engineers at Yokohama National University have now used coffee grounds as a source for cellulose. Around 10 percent of the dry weight of grounds consists of cellulose, they write in their study published in the journal Cellulose.
To extract cellulose from spent coffee grounds, the team used a catalyst that oxidizes and breaks down the coffee beans’ cell walls. The resulting microscopic cellulose fibers were uniform in structure. And they could easily be mixed into polyvinyl alcohol—a polymer used to produce biodegradable plastics—to make a composite plastic.
The results suggest that spent coffee grounds are a viable substitute to wood for making cellulose nanofibers. They could be used to make plastic composites for a range of products, Kawamura said in a press release, but more research will be needed to develop a commercially viable process.
Source: Noriko Kanai et al. Structural characterization of cellulose nanofibers isolated from spent coffee grounds and their composite films with poly(vinyl alcohol): a new non-wood source. Cellulose, 2020.


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Consumers that were unaware of the plastic microbeads in many standard household cosmetic products will no longer be accidentally polluting waterways, thanks to a bill signed by President Obama on December 28, 2015. The "Microbead-Free Waters Act of 2015," (H.R. 1321) bans the manufacture and sale of rinse-off cosmetics that contain intentionally-add plastic microbeads.
Currently, microbeads are present as an abrasive and exfoliating agent in personal care products like toothpaste, body scrubs and facial scrubs. While companies work to phase them out of products during the next few years, consumer awareness has increased and many people are trying to avoid buying these products. One way to tell whether a product contains plastic beads is to look for polyethylene or polypropylene in the list of ingredients; these are the most commonly used types of plastic for microbeads.
The 5 Gyres Institute collected samples of plastic microbeads in eastern Lake Erie and displayed them on the face of a penny in this 2012 photo. photo via 5Gyres.org
The lightweight plastics are hard to remove in wastewater plants, so they end up in lakes, rivers and the ocean. Fish and small aquatic animals consume them, often confusing the tiny particles for bits of food, and in turn they end up being consumed by larger and larger animals in the food chain including humans. In addition, the plastics tend to harbor environmental toxins that are persistent, bioaccumulative, and toxic. A good science-based summary of the arguments against microbeads was written by the Society for Conservation Biology.
Alternative exfoliants are already being used commercially and include substances such as ground walnut shell, ground apricot pits, and sand. For a gentle exfoliant that uses household ingredients, baking soda is a favorite of many do-it-yourselfers when mixed with oil, soap, or a small amount of water. It also works without scratching many household surfaces including tubs, tile, and pots and pans.


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Nagad Provides Cops With User Information About Suspicious Transactions With Ecommerce Sites
A file will soon be submitted on this subject
Nagad – the mobile financial wing of Bangladesh Post – has passed on the user information of a few of its clients to police and regulators following reports of suspicious transactions with certain e-commerce platforms.
Transactions to and from these accounts have been suspended and a formal complaint has been filed with the Counter Terrorism and Transnational Crime (CTTC).
The process of submitting a file is also underway.
Read also – CCA is looking for documents on Evaly
In recent days, unusual transactions have been observed on some Nagad accounts affiliated with some controversial e-commerce platforms.
After further analyzing the trading pattern, few accounts have been temporarily suspended, press release says
At the same time, the list of accounts was provided to the Bangladesh Financial Intelligence Unit (BFIU), the Bangladesh Telecommunications Regulatory Commission (BTRC) and the Rapid Action Battalion (RAB) by the carrier. Most technologically advanced MFS, Nagad.
Read also – Evaly starts layoffs, postpones salary
Nagad’s chief of external affairs, Lt. Col. Md Kousar Soukat Ali (retired), said: “The Nagad government’s mobile financial service is technologically one of the most reliable operators in our country.
“It is quite impossible to enter the Nagad Network for any malicious intent.”
After launching on March 26, 2019, Nagad strives to bring and facilitate people’s financial transactions on the digital platform.
Read also – E-commerce industry teeming with complaints despite new policy
Over the past two and a half years, the operator has bagged customers of Tk 5.40 crore with an average daily transaction of Tk 700 crore.


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London, Oct. 12: American multinational e-commerce company Amazon has confirmed that it will not make a profit from sales of its latest Kindle tablet and e-reader devices.
“We sell the hardware at our cost, so it is break-even on the hardware,” chief executive Jeff Bezos told the BBC.
Bezos made the comments as his firm launched its new Paperwhite e-reader and an associated book lending scheme in the UK, Germany and France, which come in stark contrast to the strategy of best-selling tablet-maker Apple.
The latest Kindle Paperwhite e-ink powered device features a built-in light that will help the firm compete against Barnes and Noble’s Nook Glowlight and Kobo’s Glo, which offer a similar feature.
According to the report, Amazon is seeking to distinguish its line-up by offering a subscription package that includes access to the Kindle Owners’ Lending Library, which offers users the ability to borrow up to one book a month from a selection of titles including well known authors, such as JK Rowling, and writers who have published their works through Amazon’s own publishing system.
Bezos made clear that the devices’ success would depend on how many books and other media files were subsequently bought by their owners.
“We want to make money when people use our devices, not when people buy our devices,” he said.
Deliveries of Amazon’s Kindle Paperwhite will begin in Europe on 25 October, coinciding with the release of its 7in (18cm) Kindle Fire HD tablets. (ANI)


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Back when the largest private equity firms started to rule the waves, many private equity firms moved downstream to the middle market in hopes of finding relief from the high valuations, and the middle market became the darling of the private equity industry. And why not? The middle market, where deal value tops out at $1 billion, provides one of the best ecosystems for private equity investors to create returns. The middle market offers more companies to invest in, greater opportunities to change companies, and lower valuations and barriers to entry. These favorable attributes have made middle-market companies the most sought-after assets, which, over time, has made it difficult for private equity firms to generate high returns for their investors. So, as a new generation of seasoned private equity professionals begins to branch out, they’re opening up shops in the lower middle market, where deals are valued at between $10 billion and $250 million. These new firms are thinking small to grow big.
“The competitive nature of even the lower middle market is intense,” says Eric Bacon, a managing director and co-founder Watervale Equity Partners, a lower middle-market PE firm launched in August. “The sell processes are compressed, offering limited exposure to the seller and management, and multiple teams spend big bucks to distinguish themselves in a race to a quick close. We are trying to escape some of that by moving down lower.”
Bacon launched Watervale with Mike Faremouth and Jim Guddy. Unlike Linsalata Capital Partners—a private equity firm focused solidly on the middle market, from which the three founders hailed —Watervale is focused on the very lower middle market. The Cleveland, Ohio-based firm is hitting the fundraising trail, looking to raise $125 million to make control investments in companies with less than $6 million of Ebitda.
“We see that there is an inflection point somewhere in the $6 million to $7 million Ebitda range,” says Bacon. “Below that the economics simply don’t work for the investment banks to run a full auction process and there is less support from the lending community. Yes, the risks are higher with less infrastructure and management depth. But, we’ve worked there and enjoy rolling up our sleeves.”
The typical transaction value for Watervale will likely be less than $50 million. Limited partners are expected to be a typical mix of pension funds, endowments and family offices.
“We were seeing deal flow at this lower level that didn’t fit LinCap’s criteria,” says Faremouth, who serves as the firm’s president. “We started to realize that the lower middle market is where we belong. We are attracted to these companies and there is a much larger population of companies. We believe it’s also very relationship-based at this level, which we like and can thrive with.”
Like Watervale, most firms entering the lower middle market are attracting by the increased number of opportunities provided by the lower end of the market. The numbers are compelling. There are about 350,000 companies with annual revenues between $5 million and $100 million, compared with 25,000 companies with revenue between $100 million and $500 million and only a few thousand companies with revenue above $500 million, according to Forbes.
The competition in the lower middle market has been intensifying over the last several years. The 10-year average purchase price multiple for leveraged buyouts of businesses with enterprise values below $250 million is currently 7.3 times Ebitda, the highest it’s ever been, according to Preqin.
The Riverside Co. has been investing in the lower end of the middle market for almost 30 years. Stewart Kohl, co-CEO of the firm, says the market keeps expanding. “Private equity keeps expanding its borders—industries, size, flavor, geography—but it keeps finding ways to make money,” he says. “Doing smaller deals is hard and expensive for the general partner, but we’ve built the scale and experience to be able to do it consistently well for our limited partners relative to boutiques, spinoffs or bigger firms going down market.”
Recognizing that the lower end of the middle market will still be competitive, most firms are investing in niche sectors where they have expertise. That makes sense, because all lower middle-market players say being operators is key.
For example, in addition to focusing on lower middle-market deals, Watervale will invest in manufacturing companies in the industrials and consumer space. “We will typically be interested in manufacturers of engineered products with good branding or a strong reputation that have opportunities for growth. A growth path is very important,” says Guddy, who serves as a managing director.
WM Partners, a Fort Lauderdale, Florida-based PE firm focused on the lower middle market, is targeting companies in the health and wellness sector. In June, the firm closed its first fund, HPH Specialized Fund 1, at $307 million, exceeding its $300 million fundraising target.
The fund is focused on acquiring lower-middle market companies with leading brands in the vitamins, minerals and supplements sector, or VMS, and natural personal care sector, and integrating them into the Wellnext consolidated platform. The fund seeks to make equity investments of between $15 million and $75 million.
“The lower middle market is the sweet spot for our investments, and the vitamins, minerals and supplements and natural personal care sectors in the U.S. is a large market,” says Ernesto Carrizosa, executive managing director of WM Partners. “Altogether it’s a $56 billion industry. VMS is about $39 billion. It’s highly fragmented in the lower end of the market and there are too many brands, which creates an attractive opportunity for consolidation and value creation.”
According to WM Partners, there are less than 10 VMS companies with more than $1 billion in revenues. However, there are more than 75 VMS companies with $100 million to $1 billion in revenues. And below $100 million, there are more than 900 companies that have been in business for more than three years.
“We want to create value through operations,” says Carrizosa. “If you buy larger companies that is harder to do. All the companies we have bought thus far have been for single digit multiples. The VMS and natural personal care sectors will continue to grow. Two out of three consumers take a supplement or vitamin. With the millennials and baby boomers becoming more health conscious, there are strong demographic trends for these types of businesses. To date, VM has closed on three acquisitions, which have been integrated into the Wellnext platform.
“Investment professionals are constantly seeking out niches and areas to achieve excess returns,” says Giles Tucker, a managing director Harris Williams & Co. “It’s widely known in the deal market that there is a finite group of target companies, so those folks that have broken away from more established firms are trying to set up shop in what they perceive as a less efficient market. They hope to buy attractive assets for lower purchase price multiples, but the lower middle market is getting crowded pretty quickly. There’s no question that you are seeing more banks represent $3 million to $8 million Ebitda companies and running more competitive processes than ever before.”
Interest in the lower middle market has grown substantially, according to Probitas Partners’ Private Equity Institutional Investors Trends for 2017 Survey. In 2017, 63 percent of institutional investors said they are focusing on the U.S. small market buyout sector defined as funds with less that $500 million. That’s compared with 81 percent focusing on middle market buyouts and just 33 percent focused on large buyouts. (Respondents were allowed to choose more than one investment strategy).
Investors are clamoring to get into these niche funds because the returns seem to be there. AUA Private Equity Partners LLC was founded in 2012 by Andy Unanue and focuses on companies that benefit from the growth of the Hispanic population in the U.S. In 2015, AUA bought Raymundos Food Group LLC, a maker of Hispanic branded snack and dessert foods. AUA was able to acquire the family owned company for a significant discount to comparable businesses.
Immediately after closing, AUA went to work, making operational changes and adding new leadership, including CEO Ricardo Alvarez, who previously held chief executive positions at Overhill Farms, Spartan Foods, Busch’s Fresh Food Market and Ruiz Foods; and Jim Taylor, who served previously as chief financial officer of Rupari Food Services Inc. Under AUA’s ownership, Raymundos made an add-on acquisition in Noga Dairies Inc., a maker of drinkable yogurts and ethnic dairy products, expanding Raymundos’ better-for-you offerings. AUA has also improved worker safety, boosting Raymundos’ food safety and quality ratings.
In nearly two years since closing the Noga Dairies deal, the company has approximately doubled revenues, grown Ebitda by more than 40 percent and returned more than 50 percent of invested capital. “We were able to buy the company below market value, increase Ebitda and return capital to our investors in 18 months’ time,” says Unanue. “We are getting inbound calls to sell this company daily.”
AUA closed its first fund in 2014 and is 80 percent invested. The firm is preparing to raise its second fund. Unanue likes the lower end of the market because it gives his firm a chance to make operational changes, which is what his and many other lower middle-market firms believe they are best at. Unanue served previously as chief operating officer of Goya Foods Inc., the largest, Hispanic-owned food company in the U.S. Goya was founded in 1936 by Unanue’s grandparents, who were Spanish immigrants. “I am an operator. AUA has strong focus and we can make a real impact on companies and grow them, creating strong alpha for our companies, investors and ourselves,” says Unanue. “There are not many people looking at deals the sizes we look at and in the Hispanic market. You have to have the experience and background to run these companies. Not many people have that.”
Watervale’s Guddy agrees operating experience is necessary to have success in the lower end of the market. “You have to build relationships and recognize it’s not just a financial transaction. It’s a partnership. It’s about growing a great business and helping ease the pressure of cycles on these businesses. It’s being ready to step in as the CFO or CEO. It’s being willing to get your hands dirty,” says Guddy.
That doesn’t mean there aren’t challenges. General partners normally are providing an array of services to help companies find success. That is harder to do with smaller funds. Riverside has done it by scaling up companies and using that to its advantage. Not every firm can or wants to grow up to be a Riverside.
The good news for other potential lower-middle market entrants, says Béla Szigethy, Riverside’s co-CEO, is that there’s room for more. “While there is additional capital coming into this end of the market and it always feels competitive as a buyer, there are always new companies being born and growing up and ready for investment. The world continues to generate new companies all the time and there’s room for the best of these new players,” says Szigethy.
Out on their own
The move down market and to new sectors is all part of a larger trend within private equity. The industry is going through structural changes. The first-generation private equity firms have grown up and their founders are of retirement age. It’s put many partners at an inflection point. Some general partners have decided to stay with the firms they grew up at; others have decided to try something new. “Every day we are seeing very talented private equity professionals leave the name-brand shops and start their own first-time funds,” says Tucker. “They have track records and success and it’s usually within a niche so they are really focusing on what they focused on at a larger shop. Smaller shops are popping up all the time now.”
The birth of Watervale came out of the natural progression of Linsalata Capital’s succession planning. With the founder of Linsalata near retirement age, some of the partners decided to stay on at Linsalata while others founded Watervale. “The team at Linsalata gave their full support to the team that wanted to do something different,” says Bacon, who expects to attract some of LinCap’s existing investors, noting that Watervale will be too small for many of them.
The spinoff from LinCap was very coordinated and thorough to ensure a smooth transition. “This is a very amicable process and I’m excited for the Watervale team as they move forward,” said Frank Linsalata, founder and chairman of LinCap.
According to Tucker, the trend of many new firms launching as first generation firms wind down or change hands is just beginning. “Many firms are working through succession planning right now. Private equity is a young industry, and the first generation of founders is at retirement age. There will be a lot of change,” says Tucker.