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The latest press release from the Brooklyn Museum, titled "THE BROOKLYN MUSEUM ANNOUNCES THE INCLUSION OF AN EXCLUSIVE LOUIS VUITTON STORE WITHIN THE RETROSPECTIVE OF JAPANESE ARTIST TAKASHI MURAKAMI" contains this interesting tidbit in the fourth paragraph (their bold not mine):
The Louis Vuitton store at the Brooklyn Museum will be located in a 550-square-foot gallery within the retrospective on the fifth floor of the Morris A. and Meyer Schapiro Wing for the duration of the exhibition. Louis Vuitton has fully underwritten the construction of the store and will be responsible for its staffing and operation. A selection of Monogram Multicolor bags and small leather goods will be available for sale for the duration of the ¬© MURAKAMI exhibition. Styles for sale include the Alma, Speedy, Ursula, Beverly, Rita, Eug√©nie, and Alexandra. Just as the MOCA store presented a number of limited-edition Monogram canvasses revisited by Takashi Murakami, the Brooklyn store will also offer a new version of these "Editioned Canvasses," signed by the artist and sold as exclusive art products. The new version, called Monogramouflage, is an exciting new pattern created by Takashi Murakami for Louis Vuitton, and gives viewers a glimpse of a bright new product line that will be launched at the Brooklyn Museum Louis Vuitton store on June 1 before being sold in selected Louis Vuitton stores worldwide. Louis Vuitton plans to donate a portion of the revenues generated at the Louis Vuitton store within the Brooklyn Museum on the evening of the Gala to the Federal Enforcement Homeland Security Foundation.
The foundation's website may be found here.
Update: I just read more about what the foundation does:
The Federal Enforcement Homeland Security Foundation (FEHSF) is a non-profit corporation formed to assist Federal Agents and law enforcement officials through supporting their families with emergency funding, financial assistance and community outreach. In particular, FEHSF provides monetary support to families of Agents and officers who are seriously injured or killed on duty protecting the nation¬'s citizens or enforcing our laws. Additionally, FEHSF supports those Agents or Agents' families during times of personal difficulties.
Frankly, I should think our federal government should provide these resources rather than expect private fundraising to take care of these people and their families. Perhaps we should stop cutting taxes for the people that can afford Louis Vuitton bags so that the feds can afford it?
Note: The press release is not online. I received it via email.


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Mary Trump and Bob Woodward books boost Simon & Schuster
ViacomCBS says its U.S. subscription streaming revenue jumped 78% in the third quarter of 2020, the company revealed in its Q3 earnings report Friday.
According to ViacomCBS, its domestic streaming subscriber count, which includes both CBS All Access (soon to be rebranded and launched as Paramount+ in early 2021) and Showtime OTT customers, reached 17.9 million in the quarter ended Sept. 30, 2020, which is up 72% year-over-year.
On the free side, Pluto TV domestic monthly active users (MAUs) rose to 28.4 million, +57 from the same time period last year.
Overall, ViacomCBS’s domestic streaming and digital video revenue rose 56% from the comparable 2019 quarter to $636 million, with the above-mentioned 78% spike for subscription streaming alone.
Sales for ViacomCBS’ publishing arm Simon & Schuster were up 29% thanks to the releases of Mary Trump’s “Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man” and “Rage” by Bob Woodward.
With almost all movie theaters closed, the company’s theatrical revenue once again took a hit, plummeting 94%.
ViacomCBS beat analysts predictions Friday, as Wall Street had forecast earnings of 80 cents per share on $5.94 billion in revenue, according to a Yahoo Finance compilation of estimates. ViacomCBS actually reported EPS (earnings per share) of 99 cents on $6.116 billion in revenue. The company’s revenue was -9% from 2019, when ViacomCBS reported $6.698 billion.
ViacomCBS recently underwent a streaming-business shakeup ahead of CBS All Access rebranding as Paramount+. Tom Ryan is taking over that business-of-the-future as Marc DeBevoise departs.
“As we near the first anniversary of the ViacomCBS merger, I’m thrilled about the way our organization has come together to realize the power of the combination and seize our unique global opportunity in streaming,” ViacomCBS president and CEO Bob Bakish said in a statement prepared to accompany Friday’s financials. “This quarter, we achieved strong user growth across our streaming platforms as we continue to build our linked ecosystem of pay and free services – with big steps taken, including the preview and brand reveal of Paramount+ ahead of its launch in early 2021, and more recently, the unification of our global streaming organization. Our company’s transformation is ahead of schedule and we are incredibly excited by the opportunities ahead.”
ViacomCBS stock (VIAC) closed Thursday at $31.29 per share. The stock markets reopen for regular trading at 9:30 a.m. ET.
Bakish and other ViacomCBS executives will host a conference call at 8:30 a.m. ET to discuss the quarter in greater detail.
More to come…
Source: Read Full Article

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Softbank Sets Max Bid Sprint Can Make for Clearwire
Softbank has set a cap on how much Sprint can offer Clearwire in its take-over bid, reports Reuters. Citing people familiar with the situation, Reuters says Softbank won't let Sprint bid more than $2.97 per share for Clearwire. Sprint's initial offer was $2.90 per share, with the deal valued at $2.1 billion. This leaves Sprint little wiggle room with which to negotiate in its hoped-for takeover of Clearwire. Sprint already owns 51% of Clearwire and wants to purchase the remaining 49%. At the same time, Clearwire's investors have indicated that Sprint's $2.90 offer is far too low. Speaking to Reuters, a handful of investors said a per-share price of $5 to $8 would be more acceptable, which is far above the cap set by Softbank. Softbank is in the process of acquiring a 70% stake in Sprint, a separate deal valued at $20.1 billion. None of the companies involved commented on Reuters' story.
Snapchat Debuts Story Collaboration Tool
May 23, 2017
Snapchat today unveiled a new feature that makes it possible for many people to contribute to the same story. Snapchat calls the new tool custom stories.
iPhone Xs and Xs Max Update Key Specs of Apple's Flagship
Sep 12, 2018
Apple today announced the iPhone Xs and iPhone Xs Max. These devices are upgrades to last year's iPhone X and feature the same design.
Sprint Says It Will Offer Nationwide 5G By Mid-2019
Feb 2, 2018
Sprint will use its 2.5 GHz spectrum holdings to provide the backbone for its planned 5G network, which is on deck to go live during the first half of 2019. The company is already hard at work on what it calls its Next-Gen Network.
SoftBank, Sprint Majority Owner, to Split In Two
Mar 7, 2016
SoftBank today revealed a plan to separate itself into two separate companies, one for its Japan-based carrier business and another for its international operations, including Sprint. SoftBank's domestic business unit, which includes investments in Yahoo Japan, will be run by Ken Miyauchi.
To the CEO of Clear....
You've been NOTHING but a burden on Sprint - much like Nextel.
$5 a share is a slap in the face to the sugar daddy that has kept your **** company alive. Show some respect. I hope Sprint pimp smacks you in the face and lets you and your fail WiMax go under.
I then hope your spectrum gets re-farmed for whole sale prices.


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Ben & Jerry’s lost its bid to stop parent company Unilever from selling the socially conscious ice cream brand’s business in Israel to a licensee that would market its products in the West Bank.
In early July, Ben & Jerry’s filed for a temporary injunction to prevent Unilever from divesting its ice cream business in Israel to Avi Zinger, the owner of American Quality Products Ltd (AQP), the Israel-based licensee that had manufactured and distributed the brand in Israel and the West Bank. Through the arrangement, Ben & Jerry’s would be sold under its Hebrew and Arabic names under full ownership of AQP. According to Unilever, the deal had already closed by the time Ben & Jerry’s filed its suit.
In an Aug. 8 hearing on the preliminary injunction, Ben & Jerry’s argued the arrangement would cause irreparable harm by potentially allowing AQP to market its branded products in Israel and the West Bank with messaging contrary to the ice cream brand’s social mission, and could cause consumer confusion.
U.S. District Judge Andrew Carter in New York denied the injunction on Monday, ruling “purported harm is too speculative to constitute irreparable harm.” He said Ben & Jerry’s was presenting a “hypothetical scenario involving several speculative steps” by suggesting AQP could market Ben & Jerry’s products using a message contrary to that of the ice cream brand.
“The harm of customer confusion regarding Ben & Jerry’s positions is also remote,” Carter wrote in his opinion. “Ben & Jerry’s has offered no evidence of such confusion or the impact of the alleged confusion. If anything, media reports and this very lawsuit evince Ben & Jerry’s position on the issue.” Carter also noted that AQP would be selling Ben & Jerry’s under its Hebrew and Arabic names, not its English language trademark.
Unilever made the deal with AQP after Ben & Jerry’s announced in July 2021 that it would no longer allow its ice cream to be sold in the West Bank because it was “inconsistent with our values for our product to be present within an internationally recognised illegal occupation.”
Ben & Jerry’s and Unilever did not respond to requests for comment by press time.


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Skype questions Egypt ban on mobile Web calls
Cairo, March 23, 2010
Internet telephony firm Skype has questioned Egypt's move to ban international calls made through mobile Internet connections and said markets should be left open for consumers to choose.
National Telecommunication Regulatory Authority head Amr Badawy told Reuters earlier this month it will ban international calls through mobile Internet connections.
Skype, which has more than 500 million users worldwide, said in an e-mail statement that it was 'seeking clarification' from the regulator about the reported ban.
'In general, we believe it should be up to consumers, not regulatory authorities, to choose the winners and losers in the communications space. That is what happens in competitive markets,' it said.
The ban applies to Egypt's three mobile operators -- Mobinil, Etisalat Egypt and Vodafone Egypt -- offering Internet access for computers via USB and other mobile modems, as well as mobile handsets. It does not apply to fixed lines.
Egyptian law requires international calls to pass through a network of state-controlled, fixed-line monopoly Telecom Egypt.
Egypt's ban comes after the UAE said earlier in the month it would not give Voice over Internet Protocol (VoIP) licences to international companies such as Skype.
In September, India's security agencies recommended a ban on international internet telephony until a system to trace the calls was put in place. – Reuters
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Apple seen doubling China market share in next year
Apple Inc. is likely to double its market share in China over the next year, according to research firm IDC.
The growth will come from an expected distribution deal with China Mobile as well as the launch of the less-expensive iPhone 5c, which went on sale last Friday.
The Wall Street Journal reports the lower-cost phone is still seen as expensive for the Chinese consumer, but the deal with China Mobile will help Apple (NASDAQ: AAPL) attract new customers in the country.
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According to the National Alliance of Small Retailers (ANPEC), the prices of both oxygen and tanks have tripled during the development of the pandemic since its beginning last year.
Between the months of November and December, a refill of oxygen had a price of 250 pesos, currently the ANPEC survey revealed that the current cost is around 690 pesos. Regarding the tanks, those with a capacity of 680 liters maintained a price of 2 thousand 800 before the pandemic, now reaching the exorbitant amount of 18 thousand pesos. Other affected products are the concentrators, which increased their price from 11 thousand to 60 thousand pesos.
After registering this increase, ANPEC asked the corresponding authorities to regulate the prices as well as to keep a watchful eye on the sale, rental and recharge of the tanks.
Companies such as Infra, Infra de Sur, Paraxair and Cryoinfra, which are oxygen suppliers in Mexico, were pointed out by their buyers as the ones responsible for the increase in the costs of such medical supplies, blaming them for taking advantage of the COVID-19 pandemic that is currently being experienced around the world.
The organization pointed out that once prices stabilize they will bring greater economic stability and thus traders will bring their profit margin, besides helping to make their price even more accessible, since the hospital situation in the country requires that several families have to continue their COVID-19 treatment at home, so they need constant auxiliary oxygenation.
In December 2020, Mexico launched a program of Free Refill of Portable Oxygen Tanks, which had to meet certain requirements to be filled, for example that the cylinder has the Hydrostatic test in force and is inadequate physical condition for refilling.
RELATED VIDEO: AMLO authorizes companies and local governments to acquire the vaccine


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How a lot income you would have if you invested $1,000 a ten years in the past
Apple unveiled a slate of new goods on Wednesday, which include the Iphone 14, Apple iphone 14 As well as and Apple iphone 14 Pro types, which aspect more substantial displays, enhanced battery lifetime and an upgraded digicam with extra state-of-the-art lenses.
The firm also introduced the entirely redesigned Apple Observe Ultra, which is qualified toward outside sporting activities lovers and capabilities a more substantial display screen wrapped in a titanium case.
Furthermore, the enterprise discovered its Apple Look at Series 8. New options incorporate “low electric power mode,” which extends the battery daily life up to 36 several hours from a single demand.
However, new merchandise launches have done tiny to shift the company’s inventory value in the previous, sector analysts notify CNBC. In the meantime, shares usually increase right after Apple stories earnings that defeat the market’s expectations.
At the stock marketplace open on Sept. 7, Apple’s shares were buying and selling at $154.83 per share. That’s down a little from $157.96 for each share at the near of buying and selling on Sept. 1.
If you had invested $1,000 into Apple a yr back, you’d see a slight return on your expense and have about $1,007 as of Sept. 6, 2022, according to CNBC’s calculations.
If you experienced invested $1,000 into Apple five decades ago, your financial investment would be well worth about $3,916 now — just about tripling in worth, in accordance to CNBC’s calculations.
And if you had given your $1,000 investment a 10 years to increase, you’d have about $6,665 now — up virtually 540%, in accordance to CNBC’s calculations, which also things in the company’s various inventory splits about the decades.
Apple’s inventory began investing publicly on Dec. 12, 1980 at $22 for each share. If you experienced invested $1,000 into the organization during its early days, your expense would be really worth $1,635,847 as of Sept. 6.
Apple briefly became the initial U.S. organization to be valued at $3 trillion in January 2022. The tech giant was also the initial publicly traded U.S. firm to be valued at $1 trillion and $2 trillion.
On the other hand, even with Apple’s gains, it’s vital to be aware that a firm’s earlier overall performance cannot be utilised to forecast its opportunity success in the future.
Presented the volatility of the inventory marketplace, investing in specific shares can be a dangerous economical move.
Instead, a passive investment method tends to make feeling for most traders. If you are fascinated in investing in the inventory industry, try out an index fund that follows the S&P 500, which tracks the inventory performance of the prime 500 American companies.
As of Sept. 6, the S&P 500 was down about 14% as opposed to 12 months ago. Even so, the index has developed by about 58% considering that 2017, amplified by nearly 173% since 2012 and ballooned by about 2,920% due to the fact 1980.
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Never pass up: Elon Musk marketed practically $7 billion worthy of of Tesla stock—here’s how a great deal cash you’d have if you’d invested $1,000 in the business 10 years ago


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HICA urges people of AP and Telangana to stop using illegal mosquito repellent incense sticks to reduce risk of respiratory diseases
The COVID-19 pandemic has increased respiratory issues leading to partially or in some cases, fully damaged lungs
Hyderabad, December 28, 2021: The COVID-19 pandemic has increased respiratory issues leading to partially or in some cases, fully damaged lungs. Health professionals across the globe are already engaged in controlling the on-going health crisis.
Home Insect Control Association (HICA), a non-profit making industry body promoting safe use of household insecticides in India, has demanded stop on buying or selling of mosquito repellent incense sticks (agarbattis) in Andhra Pradesh & Telangana as majority of them are illegal and does not have necessary certification/licenses.
In the last couple of months, dengue cases has increased in Andhra Pradesh and Telangana. Cases of Covidengue, a coinfection of dengue and COVID-19 in a person, has been reported as well adding to more worries of citizens.
People are protecting themselves from mosquitoes and are buying mosquito repellent incense sticks/ agarbatti. available across chemists, pan shops and kirana stores. These incense sticks /agarbattis are sold at cheap price and have a visible drop-down impact on mosquitoes yet are illegally made and sold without proper licenses and permissions from the relevant Government Department. Illegal & spurious incense sticks/agarbattis available in the market are laced with unapproved harmful chemicals (insecticides/ pesticides). This can cause health issues such as asthma, bronchitis, reactive airways disease and other respiratory ailments. Basic checks on safety parameters which is mandatory for all home insecticide products are not carried out by these manufacturers producing the illegal agarbattis.
The mosquito repellent agarbattis are sold in market under names like Relax, Comfort, Sleepwell, Just Relax, Relief, Natural Relax, among others. These incense sticks/agarbattis do not go through the regulated manufacturing and licensing processes. As per the provisions of the Insecticide Act 1968, all household insecticide products need to be approved by Central Insecticide board (CIB) and registration committee. Household Insecticide products are approved by the CIB after evaluating the products toxicity and safety to the consumers and animals before granting permissions.
Mr. Jayant Deshpande, Honorary Secretary, HICA, said, “At a time when respiratory issues are occurring frequently, we strongly urge people to stop or avoid using mosquito repellent incense sticks. Most of them available in the market are illegal and have potential to damage consumer health. Usage of illegal mosquito repellent agarbattis or incense with unknown combustible material can trigger asthma, bronchitis, reactive airways disease and other respiratory ailments.
These incense sticks/agarbattis do not go through regulatory checks and have chemicals exceeding prescribed levels. They are likely to contain banned or unapproved chemicals as well. While these incense sticks seems to be effective on mosquitoes, they will be equally harmful to people’s health.”
He further added, “In the last 3 years, we have conducted more than 50 raids with local authorities across the country including Andhra Pradesh and Telangana. While we are committed to protect the interest of consumers, we recommend people to use only branded mosquito repellents and solutions which are approved by the licensing authorities. The licensing number start with CIR No and mfg license no that are issued by Central Insecticide Board and Registration Committee (CIB-RC) and State Dept and mandatorily required to be displayed on packages. People buy mosquito incense sticks more because of their affordable cost. Today, the organized industry has innovated and introduced safe alternatives to incense sticks like paper-based mosquito repellent cards which are approved, effective and cost as low as just INR 1 per usage.”
In India, close to 50% of mosquito repellents are in the burning format out of which, almost 30% are using unapproved and illegal mosquito repellent incense sticks. HICA has been working with the authorities for initiating strict action against manufacturers violating the licensing protocol of following certain safety parameters before the product is introduced in the market to consumers.


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GREENWICH — Local leaders said the new fines that Gov. Ned Lamont announced this week for businesses that violate capacity limits ultimately will serve the economy — not to mention public health.
Lamont on Tuesday announced via executive order a maximum fine of $10,000 on stores or restaurants that violate state limits by admitting more people than is allowed. The fine, which went into effect at 12:01 a.m. Thursday, is a steep increase over the maximum $500 fine that had been in place previously.
Lamont, who is a Greenwich resident, said Tuesday the new fine, which comes at the start of the holiday shopping season, is preferable to shutting down local businesses outright to get the pandemic under control.
“Increasing compliance with the protocols we’ve already enacted is an important responsibility in keeping our communities safe,” Lamont said. “We want to do everything we can to mitigate the further spread of this virus while avoiding the implementation of more restrictions or lockdowns on our already hard-hit economy and small businesses.”
Under state guidelines, a business or restaurant will be in violation if it admits beyond 50 percent of capacity.
That limit went into effect earlier in the month along with a mandatory closing time for restaurants of 10 p.m.
Greenwich First Selectman Fred Camillo said Wednesday he understood why Lamont would call for such a high fine, saying it shows the governor “meant business.”
“If you’re a business, especially one in this environment that is struggling a little bit, $10,000 hurts,” Camillo said. “If you’re coming toward your occupancy limit, err on the side of caution and do the right thing, not just to avoid the fine but to keep everybody healthy.”
Stamford Mayor David Martin said his main concern is not the fine, but not having to shut down businesses because of repeated violations.
“I believe the real big impact on businesses is if they are shut down,” Martin said on Wednesday. “Ten thousand dollars is an awful lot for an individual and for some small businesses it is an awful lot, but for other businesses it is not a lot.
“I have said repeatedly that for businesses, if there is an issue, the first time we will come and work with you,” Martin said.
Repeat offenders will be fined and eventually closed, he said.
“I want to make certain that businesses are not operating in a way that endangers this community,” Martin said.
In Stamford, three businesses were closed earlier this month due to violations of coronavirus safety guidelines. Those violations included overcrowding, not enforcing mask requirements and serving alcohol without food.
The closures came after the restaurants reportedly did not heed warnings to comply.
Marcia O’Kane, president and CEO of the Greenwich Chamber of Commerce, noted the work business owners have done to make their places safe during the pandemic, including enforcing distancing and installing safety features for employees and customers.
“It is to their credit that businesses have adjusted so quickly to all of the safety parameters put on them during this year,” O’Kane said on Wednesday. “We expect them to continue to do so, especially now that we are experiencing the second wave of the pandemic. We haven’t heard concerns about the new fine from anyone, likely because they are already strictly adhering to the rules.”
Stamford Assistant Police Chief Thomas Wuennemann on Wednesday said his police officers aren’t ordinarily looking for COVID violators, but if they find them they will do what it takes to make sure the law is adhered to.
He said some officers would be accompanying health department inspectors in making spot checks at various bars and restaurants in the city on Wednesday night, traditionally the busiest night of the year for bars.
“When complaints are made, our officers will respond,” Wuennemann said, explaining that city police officers are trained to supply masks to those without. “We always strive for voluntary compliance. But if we have to, we will do what is required by the law.”
The Greenwich Police Department has not yet had to fine any businesses for violating regulations, said Capt. Mark Zuccerella, the GPD’s public information officer.
“We will always use education to gain compliance,” Zuccerella said. “If education fails we can enforce the law as prescribed.”
Camillo and the GPD have both said in the past they prefer to educate residents and businesses rather than issue fines. In the spring, Camillo closed access to all town beaches and parks in an effort to curtail the spread of the virus when capacity was being reached.
In an effort to keep attendance down, Camillo has closed off Greenwich Point to non-beach card holders through at least the end of the year. In most years, people do not need beach cards to enter during the off season.
John Nickerson contributed to this article.


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The placid Pocono Mountains could have two massive new outlet malls by the end of next year, as developers jostle to cash in on shoppers' demand for bargain name-brand goods.
The resort region an hour north of Allentown boasts one of the nation's most successful outlet malls, The Crossings Factory Stores in Tannersville. Now, two developers want in on the action, submitting separate plans for large outlet complexes within 15 miles of The Crossings.
One of the projects is backed by Chelsea Property Group of New Jersey, one of the country's biggest outlet-mall owners. Chelsea brings deep pockets and extensive experience to its Pocono Premium Outlets project, proposed for Smithfield Township, Monroe County.
The other proposal is the brainchild of a local family that, after 35 years in the resort business, decided it could turn a better profit pursuing bargain hunters instead of honeymooners. The Farda family wants to raze The Summit, their now-closed resort on Route 715, and replace it with Tannersville Factory Outlets, whose first phase calls for 230,000 square feet of retail space.
Both builders hope to open next year. The Fardas hold a slight lead, having earned approvals last month from Pocono Township supervisors. Chelsea is still fine-tuning its plans, and is not releasing details.
Industry watchers said the advantage will go to the newcomer best able to land tenants. Leases, especially with anchor stores, are key to winning over both bankers and shoppers -- especially at a time when outlet mall development is slowing nationwide.
"Getting the approvals is one thing," said Randy Marks, publisher of Outletbound, a guide to outlet shopping. "Getting lease commitments that enable you to go ahead with the financing is what holds back a lot of developers."
"Strong outlet country'
Eastern Pennsylvania has been fertile ground for outlet malls since the early 1970s, when developers in Reading turned old industrial buildings into factory stores that sold flawed or overstocked goods.
Manufacturers have operated outlet stores for decades, but on a small scale -- say, one store at a factory. The outlet concept caught fire in Reading, where space was cheap and abundant, and busloads of shoppers from New York City and Baltimore knew they wouldn't have to pay state sales tax on clothing and shoes.
Outlet sales continue to be one of the few bright spots for Reading's economy. The city boasts two major outlet complexes, the Reading Outlet Center and VF Outlet Village, each with more than 90 stores. Other Pennsylvania communities with outlet centers include Grove City, Mercer County; Hershey, Dauphin County; and Lancaster.
"Pennsylvania is strong outlet country," said H. Blount Hunter, a Virginia consultant who helps retailers choose sites.
The outlet boom spread to tourist destinations such as Branson, Mo., which viewed bargain shopping as a clean, complementary attraction. Vacationers could pick up a London Fog overcoat or Liz Claiborne outfit without blowing their entertainment budgets for the trip.
The Poconos stepped to the forefront of the trend in August 1991, when the Crossings opened on Route 611 in Tannersville. The complex boasts 450,000 square feet of space, more than 100 stores and a national reputation for success, industry experts said.
A shifting group of more than 50 outlet retailers ranks their top-selling stores each year. By combining their rankings, the chains identify best-performing malls across the country. The Crossings has made the list each year it has been compiled, said Linda Humphers, editor of Value Retail News, a trade publication that releases the list each year.
Reading's VF Outlet Village ranked among the top-selling malls in 2000, but dropped off the list in 2001, the most recent year available.
In 2001, the retailers listed malls alphabetically. The year before, the group ranked the Crossings as the No. 3 top-selling mall, based on a combination of gross sales and sales per square foot. Exact figures were not released.
Humphers credited the Crossings' success to its list of stores, which include everything from high-end audio systems to toddler clothing. Tenants include Ann Taylor, Camp Coleman, the Gap, Majestic Athletic, Pfaltzgraff and Tommy Hilfiger.
"I think they've got a really good tenant mix," she said.
Facing the challengers
Insalaco Development Corp. -- the Tannersville owner of the Crossings -- will see whether its winning formula stands up to challengers.
Officials at the Crossings said they're not worried about the two new players eyeing the Poconos. They said outlet sales remain strong: Shoppers still crave name brands, even if they have less money to spend.
"We're not really worrying about other factors," said Jim Thomas, whose company, Thomas Communications of Clark's Summit, handles public relations for the mall. "We're aware of the plans. We're just focusing on what we do best."
Michelle Rothstein, Chelsea spokeswoman, declined comment on the competition until Chelsea's project is leased.


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Buying These 3 Robinhood Shares Might Be the Smartest Investment Move You’ve Ever Made
Investors using the Robin Hood platform generally likes solid short-term gains. A lot of their favorite stocks are the ones that were delivered within days or weeks. But that doesn’t mean the most popular stocks on Robinhood are just short-term winners. In fact, many of these stocks are better long-term investments. Over a longer period of time, investors can truly benefit from the innovations, sales and profits of companies.
Right now, I’m thinking of three stocks in particular that have performed well lately. But I expect each of them to provide more to investors over a period of years. Why? They are growing – and many more are on the horizon. Buying them today can mean a big investment down the road.
You’re here (NASDAQ: TSLA) stocks climbed 743% last year. This year, the gains are modest with only a 10% increase. But it is okay. Catalysts are on the horizon for this market leader in electric vehicles (EV). And those catalysts are vehicle deliveries and bottom lines.
Tesla is off to a good start. The automaker delivered half a million vehicles last year. This year, deliveries have increased quarter on quarter. And Tesla has already surpassed last year’s total. The company delivered more than 626,000 vehicles in the first three quarters. Tesla recently announced third quarter deliveries ahead of the full earnings report.
In the second quarter, the electric vehicle giant reported more than $ 1 billion in net income for the first time under GAAP. Importantly, the company widened its operating margin to 11% from 5.4% the previous year.
All this against the backdrop of a global chip shortage. CEO Elon Musk calls chip supply “the determining factor in our production.” This issue could weigh on Tesla’s production schedule. But I see it as a temporary headwind. Demand for Tesla cars remains strong even as other automakers have joined the electric vehicle market. For example, Tesla claims that European demand is “much higher” than supply.
Tesla’s profit and revenue growth is just beginning.
So I think the share price story is still in its early stages.
I appreciate Amazon (NASDAQ: AMZN) because it is a leader in two major (and growing) areas: e-commerce and cloud computing.
Let’s start with e-commerce. The company’s Prime subscription service offers free same-day or one-day shipping on millions of items. And Amazon will deliver groceries for free within two hours in some locations. Amazon is continually innovating to streamline the shopping experience. The last? Now you can order a gift for someone even if you don’t have the person’s mailing address. Amazon will contact the recipient by email or text to arrange delivery.
The global e-commerce market is expected to grow at a compound annual growth rate of nearly 15% through 2027, according to Grand View Research. And a giant like Amazon should take advantage.
Now let’s talk about Amazon Web Services (AWS), the company’s cloud computing business. AWS was growing before the pandemic, but the health crisis has given it an extra boost. Many companies realized they no longer wanted to manage their own infrastructure, Amazon said.
AWS contributed more than $ 4.2 billion in operating profit in the last quarter, more than half of Amazon’s total operating profit. Amazon’s net income and revenues have increased in recent years. I expect the growth in online shopping and AWS to continue this trend.
Leader in coronavirus vaccine Moderna (NASDAQ: mRNA) climbed 268% in the first nine months of the year. But shares have fallen 21% since early October, over concerns that potential COVID-19 treatments will hurt vaccine sales. I see this as a buying opportunity.
First, I don’t expect vaccine sales to fall off a cliff. Treatments and treatment candidates have so far not been 100% effective. And that means it’s always possible to get seriously ill and end up hospitalized. About 55% of Americans got the flu shot last season. So I would expect at least the same population to continue with the coronavirus vaccines as well.
Second, Moderna is working on booster candidates to target specific variants of COVID-19, a next-generation vaccine candidate and a potential combined influenza / coronavirus vaccine. These potential products could generate significant income in the future. Experts predict that the coronavirus will not go away once the pandemic is over. He will always be there. And we will need protection.
And third, Moderna may depend entirely on COVID-19 vaccine sales now. But that won’t be the situation forever. The company has 37 programs in the works. And the most advanced is expected to enter Phase 3 trials this year. It is a vaccine candidate against a common virus called cytomegalovirus (CMV). Moderna projects between $ 2 billion and $ 5 billion in maximum annual sales of this potential product.
Moderna’s shares could suffer right now. But that, too, will not last forever. The coronavirus program and the rest of the pipeline offer many catalysts to drive gains over time.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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Usually, when we’re reviewing smartphones and tablets, we give them extra credit if they can pan, scroll and zoom without distortion. Now, Osaka University researchers are claiming, it’s might be better if they did. Their Flex touchscreen interface – demonstrated with Google Maps – uses a more elastic distortion of on-screen graphics, stretching around while your finger is on the display.
Video demo after the cut
While your finger is still in contact, the graphics pull and shift around so you can pan around what’s further off the screen. If you subsequently let go, the display shuffles around accordingly; move your finger back to the original point, however, and there’s no movement.
According to the researchers, this allows users to explore around the interface without losing their start position, potentially handy if – like us – you’ve ever tried to navigate between multiple destinations on a smartphone map and then lost the first place you located. Meanwhile multitouch gestures are also supported: flex the map and then tap the flexed part, and the screen automatically zooms out to fit both on-screen.


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The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
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The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Check out the companies making headlines before the bell:
Amazon.com – Amazon is planning a significant expansion of its Whole Foods grocery stores, according to The Wall Street Journal. The paper said Amazon is scouting new locations in more suburbs, and in areas where Whole Foods is already growing in popularity.
Deutsche Bank – Deutsche Bank chairman Paul Achleitner told a German newspaper that the bank is strong and that its turnaround strategy is working, adding that there is no need for either state aid or a merger.
Apple, Alphabet – Apple and Alphabet's Google unit could be threatened by a new app store from Fortnite creator Epic, according to the Wall Street Journal. The Epic app store reportedly gives developers 88 percent of revenues from their apps, compared to 70 percent from Apple and Google.
Alibaba – The China-based e-commerce giant will pay $75 million to settle a California class action lawsuit, according to an SEC filing. The suit had been brought in October 2015 on behalf of shareholders who had purchased Alibaba's American Depositary shares.
Berkshire Hathaway – Warren Buffett's Berkshire Hathaway is poised to outperform the S&P 500 for the third straight year. Berkshire has beaten the S&P in seven of the past ten years.
Pacific Gas & Electric – The utility could face charges if investigators find that various deadly wildfires over the past two years were caused by reckless operation of power equipment. California's attorney general has told a federal judge that the charges could be as serious as murder.
Tencent Holdings – Tencent was excluded from the first approvals of video games by the Chinese government since March.
Aflac – The disability insurer is making a $20 million minority equity investment in Singapore-based life insurance company Singapore Life.
Canada Goose – The retailer of outdoor wear is seeing large crowds at its new Beijing store, its first in mainland China, which opened Friday.
Camping World – The camping equipment and recreational vehicle retailer said President Roger Nuttall resigned on December 21, effective immediately. Camping World made that disclosure in an SEC filing.


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Our 11 News Call For Action team writes a weekly column for our news partner The Gazette. Previous columns can be found here.
COLORADO SPRINGS, Colo. (KKTV) – A lot of us are still thinking about Halloween right now, but experts tell me you should be thinking about the holiday season already. Now is the time to do your holiday shopping. Supply chain issues lead to backlogs for businesses, so you want to make your gift list as early as possible this year. I spoke with the experts at Consumer Reports about what shoppers need to know. You may have seen this story on 11 News.
“Early shopping is the name of the game this holiday season,” said Anna Kocharian, chief purchasing and offering editor for Consumer Reports. “Many experts we spoke to recommended that consumers start their holiday shopping as soon as possible. If you wait a long time, maybe until December, you probably won’t find the items you have on your wishlist.
Several factors are impacting the supply chain at this time. Experts don’t have a timeline for when things could change.
“It’s that domino effect where you have blockages related to the pandemic in Asia that are causing production and factories to shut down,” Kocharian said. “Because of this, we are experiencing a lot of shortages for items produced overseas. We have port congestion, we have a labor shortage, truck drivers, warehouse workers, warehouse space in general is limited, and we even have semi-chip shortages. conductors. So all of these things that go into making these products are going through all of these setbacks and that’s causing these delays. “
It is a ripple effect for consumers. Some items are going to cost you a lot more because of the shortages. Experts tell me that if you see something on the shelves that you like, you should probably buy it right away, in case it doesn’t get restocked in time for the holidays. Some items may be harder to find, including some toys.
“Basically anything that has a chip in it. Electronics in general is going to be hard to find this year, and not only hard to find, but we won’t see such aggressive sales on items, like televisions and laptops, ”Kocharian said. “Specifically, when it comes to children’s toys, they have become so technologically advanced in recent years that they include chips. So due to a shortage of chips, these toys are going to be hard to find, and what’s more, plastic in general is also scarce, so plastic toys and artificial Christmas trees, and even candles are going to be in. shortage this year. . “
Lots of big retailers are adjusting and having big sales right now. Many stores also offer price matching, so if you buy it now and it goes on sale before Christmas, you can get a refund of the sale price. I have already started checking my list. Whatever you do, try not to wait until the last minute this year, if you can.
“For last minute shoppers, try shopping a little earlier. When the time comes, if you are [pressed] for time, try to buy local and this is a great way to get an item right away and you don’t have to rely on shipping or reliability if you just go to the store, ”Kocharian said .
Of course, the holidays aren’t all about gifts, but I know many of you might want to get a head start this holiday season. If you want more information from the experts at Consumer Reports, go to kktv.com and click “Find It”.
Click here to read the original column on gazette.com.
Copyright 2021 KKTV. All rights reserved.


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Verizon Wireless has officially revealed that the major US carrier will begin sale of the Motorola Moto X via their online website starting this Thursday, the 29th of August. Meanwhile, people will have to wait for a couple of more weeks to pick one up from a retail store (in case you haven't had the chance to check the handset out with your own bare hands). People without the patience can pick it up for $199.99 with a two-year contract in just two more days. This information was made public earlier today in a tweet made by Verizon Wireless's official public Twitter account.
|Channels||Business, Phones, Wireless|
|Topics||Verizon, Moto X, Launch, Verizon Wireless, contract, Verizon Moto X|


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According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments declined by a slight 0.1% to 302.8 million units in the third quarter of 2023.
Despite continued economic uncertainty, weak demand, inflation and geopolitical tensions, some manufacturers are cautiously ramping up shipments after a significant 7.8% quarter-on-quarter decline in global smartphone shipments.
Apple’s regional performance in Q3 2023
Apple shows growth in all regions except China, where it faces competition from Huawei and economic instability that is forcing consumers to be more discerning in their purchasing decisions.
Continued decline in China
In 3Q23, smartphone shipments in China fell 6.3% year-on-year, marking the tenth consecutive quarter of decline. Factors such as youth unemployment, real estate crisis and deflation have significantly impacted consumer spending and macroeconomic situation in China.
Shipments in Europe, Japan and the US declined by 8.6%, 5.3% and 1.1% respectively. However, emerging markets such as the Middle East & Africa, Latin America, and Asia Pacific (excluding Japan and China) grew shipments by 18.1%, 8.2%, and 1.3%, respectively.
Emerging markets are showing promise
Nabila Popal, research director at IDC Mobility and Consumer Device Trackers, noted a positive trend in emerging markets, with manufacturers such as Xiaomi and Transsion increasing shipments of their smartphones.
While this indicates a potential economic recovery, manufacturers should be mindful of inventory management due to low demand in some regions.


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At this moment in time, the growing popularity of bitcoin has encouraged over 100,000 merchants from all around the world to take bitcoin and other digital currencies as a form of payment for both products and services.
Recent reports now indicate that South Africa’s second biggest supermarket chain store, known by the name of Pick n Pay, has started accepting bitcoin in one of its stores, as reported by Electrum, a payment software development firm. The goal of this move is to test how the Pick n Pay customers react to the introduction of bitcoin-based payments, and see whether this represents a viable solution for all of their stores in South Africa.
It is however important to point out the fact that the merchant doesn’t only have stores in South Africa, but rather in a couple of other African countries, including Lesotho, Namibia, Zambia, Zimbabwe and Mozambique. An introduction of bitcoin-based payments for its entire chain of stores will likely serve as an encouragement for people throughout Africa to go ahead and consider the idea of using bitcoin for their daily purchases, which would be a great step towards bigger adoption in the region.
The announcement further clarifies that customers will be able to use the digital currency for a limited period of time, which is indeed unfortunate news. However, if things go ahead as planned, and enough shoppers show interest, then this will likely change, and will be available for an unlimited period of time.
An Electrum representative, the company which provides the payment system for these transactions, stated that: “We’ve worked closely with PnP for several years as a key technology provider. Our mission is to support innovative enterprises like Pick n Pay, and together we use the advanced Electrum software-as-a-service technology to move quickly on new opportunities, whilst at the same time delivering the best possible shopping experience.”
However, the actual bitcoin infrastructure needed for the POS system was provided by a South African start-up known by the name of Luno, which already facilitates a good number of bitcoin transactions in the country.
The payment process itself is bound to be easy, as users will simply have to scan a QR code, and their payment will automatically be processed. No need to wait for confirmation!
Based on everything that has been outlined so far, is this the beginning of mass digital currency acceptance for supermarkets throughout the world? After all, we’ve had contactless cards for a good period of time now.


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SKOKIE, Ill. (CBS) — It was a mess Thursday morning at a mattress store in Skokie, after a car plowed right into the middle of the showroom.
The salesman was just happy the merchandise softened the blow of the crash.
The accident happened just after 10 p.m. Wednesday at the Bedding Experts store at 4800 Dempster St. in Skokie.
The car crashed through a front window and took out nearly a dozen mattresses.
No one was hurt, but the owner is feeling the financial pain.
“There were Tempur-Pedic mattresses; Sealy mattresses. With the window, probably $25-30,000 worth of damage,” said mattress salesman John Belcher.
Witnesses say the woman lost control of the car while turning left. So far, no tickets have been issued.


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Company: RockPort Capital
An MIT Enterprise Forum probed three local founder-investor partnerships.
VC-founder relationships: They’re complicated. Not unlike real marriages, these partnerships come with a host of ups and downs—and through sickness and health, these parties are expected to stay committed. One would expect that for these marriages to be fruitful, VCs would need to have a firm grasp on the intricacies of the startups they invest, and vice versa. But of course, like any other relationship, each is different.
An MIT Enterprise Forum event Tuesday night—modeled after The Newlywed Game—put Boston venture capitalists and startup founders to the test to determine just how well they know each other. Not unlike on the popular TV show, the moderator—HubSpot manager Dan Sally—asked them questions about their “marriage” to see if they were on the same page. The three couples were: Jeff Fagnan, partner at Atlas Venture, and Fred Shilmover, founder of InsightSquared; Maia Heymann, senior managing director at CommonAngels, and Matt Lauzon, founder of Dunwello; and Dhiraj Malkani, partner at RockPort Capital Partners, and Swap Shah, co-founder of FirstFuel.
Here are some key takeaways from the event:
The first question was for Shah and Malkani. Sally asked how many hours of due diligence the founder thought his VC did before the deal was done. Shah said 20 hours, but Malkani revealed it was actually 50. Sally eventually opened the topic up to the panel, asking VCs whether they prefer entrepreneurs to exclusively pitch to them. After discussing the subject further, the VCs agreed it’s a better sign when founders “shop around” and consider all their options. Fagnan later admitted that he did zero due diligence on Shilmover and InsightSquared.


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News by Ricky Cadden on Wednesday January 07, 2009.
|Sponsored links, if any, appear in green.|
Our sources have informed us that Nokia has discontinued its N810 Internet Tablet WiMAX Edition, effective immediately. Distributors have apparently been asked to send any remaining stock back to Nokia. The abrupt cancellation is reportedly due to the slow WiMAX roll out in the USA as well as an issue with the current WiMAX switches in use not offering optimal performance.
While Nokia has confirmed that the N810 WiMAX Edition has reached its "end of life" state, the company rep that we spoke with did not wish to comment on any impact that the condition of the nation's young WiMAX network might have had on that decision.
The Nokia N810 Internet Tablet WiMAX Edition was announced one year ago, at the 2008 Consumer Electronics Show. Since then, only 2 markets, Baltimore and Portland, have seen their WiMAX networks go live. At this rate, WiMAX is starting to make BetaMax look like a good investment.
Former news editor Ricky Cadden runs Symbian-Guru.com. Ricky is based in Texas.


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Over the course of the year, we pay tribute to 35 living Vanguards and 12 departed heroes. This month’s featured Vanguard is Steve Gallucci of Wegman’s.
Originally printed in the December 2020 issue of Produce Business.
“Steve Gallucci’s impact on our industry at retail was huge,” says Bryan Silbermann, whose 34 years at PMA included 20 years as president. Silbermann fervently nominated Gallucci for a Produce Business Vanguard Award, saying how he was an industry trailblazer who didn’t receive the kind of recognition that many others do. He noted how fortunate he was to get to know him personally when Gallucci served three years on the PMA Board late in his career.
“Steve was a produce merchant first and foremost. He knew how to make displays sing to their customers and drive impulse buying through the artistry of color and positioning. What Steve had at Wegmans too was the commitment of the family to put produce literally front-and-center on a scale few retailers anywhere could do,” says Silbermann.
The industry mourned Steve Gallucci’s passing at the age of 58 in 1999. Founder Robert Wegman, of the iconic Rochester, NY-based specialty chain, avowed: “I don’t think there was a better merchant in the world than Steve…there probably isn’t, and won’t ever be a department like he developed in the industry again.”
Wegman expressed an innate understanding of Gallucci’s long-term influence on the company’s phenomenal success. But more broadly, Gallucci’s contributions stimulated innovation and challenged the industry to reach for the highest standards, and tolerate nothing less, according to Dave Corsi, vice president of produce and floral at Wegmans. Corsi, who worked very closely with his predecessor, says Gallucci was one of his dear mentors in his life, and he had a passion that everyone should aspire to duplicate.
As a teenager, Steve began at Wegmans as a part time clerk and began to steadily climb through the ranks, Corsi explains. He was a store manager, then a store division manager, and in 1981 he was named the director of produce at Wegmans.
In 1989, industry consultant Bill Bishop described the launch of a new 100,000 square foot Wegmans store in Greece, NY, “as incredible perishable theater,” where Gallucci’s craftmanship was on full display. It was featured in a Marian Burros’ New York Times article, headlined, “Supermarket as Theater, Service as Star,” in the context of a transformative retail environment, and changing consumer lifestyle trends, where fresh produce and fresh prepared foods were savvily being used to gain a competitive edge.
Reportedly, the new Wegmans tripled the number of produce items in five years, and the fresh produce and prepared foods departments, equipped with dining areas, took up one-third of the store. Gallucci talked about the evolutionary process, where the produce department at one time was considered “a necessary evil. People chose the store they shopped by the meat. Now they choose it by the produce.” That would prove a profitable proposition for Wegmans, in large part because of Gallucci.
“Steve brought product to life through display presentation with a wow factor,” says Corsi. “He was always in pursuit of excellence in providing fresh produce to be offered at the peak of freshness and flavor. In addition, Steve was an innovator in search of unique fruits and vegetables that delivered on exceptional flavor.”
“Steve taught his people about strong, long-term partnerships with the best shippers, and that is still a hallmark of Wegmans to this day,” says Silbermann, adding, “It’s no wonder that people from around the world made pilgrimages to Rochester to see for themselves the produce departments that even to this day have Steve Gallucci’s fingerprints all over them.”
Gullucci worked directly with shippers to bring in ripe, high-flavor products, setting strict guidelines, and he was a pioneer in creative merchandising and ways to go to market on promotions, according to Dick Spezzano, former vice president of produce and floral at Vons.
Corsi reminisces about his personal relationship with Gallucci and the most important lessons he learned from him. “He was detail-minded about each produce item we offered, conveying about product to only be displayed at its peak of perfection,” he says. “It had to be something we were proud to merchandise and never place something out on display that we wouldn’t purchase ourselves as a customer.”
Wegmans started over 100 years ago as a fruit and vegetable company. “It is no coincidence that during Steve’s tenure, we moved the entire produce department from the back of the store to the first department you walk into. We wanted the customer’s first impression to be the best impression, and Steve brought produce to life like no other,” says Corsi.
“I do recall one conversation with Steve that will give you some insight to the priority he always gave to artistry in his business,” says Silbermann. “We were riding on a bus to dinner, and the PMA Guide to Category Management had just been published.”
Category Management was the application of new analytical tools to examine and interpret the profitability of the department by segments and holistically. “Steve was concerned, saying he was worried that if we get carried away with all this analysis, we’ll start eliminating items from the department just because they don’t carry their weight.” And he explained how variety and choice had always been the focus of his departments at Wegmans. “He was determined not to lose that. It’s clear from the past 20 years that the company took Steve’s caution to heart.”
The company gave tribute to that fact: “Wegmans was named one of the country’s top produce retailers, thanks to Steve Gallucci,” says Silbermann. “Throughout Wegmans and the entire supermarket industry, his innovations stand out. European slant tables for produce displays, open fresh-cut preparation areas, continuous sampling, and the beautifully lettered chalkboards, which were all signature statements for Wegmans produce at the time. In addition, we have Steve to thank for introducing Wegmans Strive for 5 program before the national Five a Day program was launched. For Steve, the customers’ health and convenience came first. He strove for excellence and, when he passed at the age of 58, he left an eternal legacy.”


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- Tea exporters to continue selling to Russia
Sri Lankan tea exporters are now making arrangements to receive their payments in lieu of tea exported to Russia, through banks which have not been sanctioned as of yet, as a consequence of the decision by the European Union (EU) to exclude seven Russian banks from the Belgium-based Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, Sri Lanka Tea Board Chairman Jayampathy Molligoda told The Morning Business.
According to Molligoda, the invasion of Ukraine by Russia, which is Sri Lanka’s third largest tea export market, has not had a significant impact on the country’s tea industry as of yet. However, he did admit that Sri Lanka would have to wait and see how these recent sanctions imposed by the West on Russian banks would impact the country’s tea industry.
Explaining further, he stated that Sri Lankan tea exporters were still able to ship to Russia and that the Port of St. Petersburg was still functioning. However, according to him, the current issue is getting the money for the shipments out.
- First 65-day tourist arrivals exceed 200,000
Minister of Tourism Prasanna Ranatunga has stated that the number of tourists who arrived in the country from 1 January to 6 March is 200,798.
According to the Sri Lanka Tourism Development Authority (SLTDA), 21,964 tourists arrived in the country during the first six days of March this year.
The country saw 82,327 tourist arrivals in January and 96,507 in February. This is the highest number of tourists visiting the country in a month after a period of two years owing to the Covid-19 pandemic.
- Risk of apparel buyers shifting from SL due to current crises
The ongoing power and energy crises led mainly by the shortage of official foreign exchange reserves have put apparel, the top item in Sri Lanka’s export basket, at risk of losing its international buyers, according to Joint Apparel Association Forum Sri Lanka (JAAF).
JAAF Secretary General Yohan Lawrence, during a press conference conducted by joint export sector associations and chambers on 7 March, stated that the apparel buyers have started showing signs of moving away from Sri Lanka to other potential countries for their apparel needs.
“Because of the lack of confidence buyers are already showing signs of shifting to other apparel-producing countries. I could not put a value on it but there are certain brands that are showing the signs,” Lawrence noted.
According to him, if such buyers move, gaining their confidence back would be a tough task.
- Reserves at $ 2.31 b in February: CBSL
Sri Lanka has maintained its official reserves at $ 2.31 billion ($ 2,314 million) in February, said the Central Bank of Sri Lanka (CBSL).
Meanwhile, foreign currency reserves were reported at $ 2,025 million while gold reserves were at $ 98 million.
During the Monetary Policy Review press conference that took place on 18 January 2022, when a journalist inquired about the amount of reserves left in the Treasury, CBSL Governor Ajith Nivard Cabraal responded saying: “Reserves levels will be reported by the Central Bank at the relevant times. Please check the CBSL Weekly Indicators.”
- IFC to increase investments
The International Finance Corporation (IFC) aims to boost its investments in Sri Lanka, said IFC Regional Vice President – Asia and the Pacific Alfonso Garcia Mora during his meetings, while highlighting IFC’s investment of $ 450 million during the first 18 months of the pandemic in Sri Lanka as a sign of IFC’s steadfast commitment to the country.
The investment has been made with a focus on supporting private sector job creation, paving the way for robust investments to help spur the country’s recovery and future growth.
“In my meeting with the President, we discussed the need to have a sound macro fiscal stability to attract foreign capital and provide medium and long-term certainty,” Mora said. “The talks also focused on ways to maximise the potential of the country’s private sector to help address Sri Lanka’s challenges and achieve the inclusive growth the country needs.”
- Complimentary meals offered to evade tourist complaints
Hotels are offering complimentary meals and items to tourists during power cuts to keep them happy until their departure.
Speaking to The Morning, The Hotels Association of Sri Lanka (THASL) President M. Shanthikumar said most hotels were negatively affected by the shortages of power, fuel, and gas.
“The tourism sector is worst hit by the Covid-19 pandemic and power shortage. We had several discussions with authorities which ended without any favourable answers; most hotels are running out of gas and fuel as well.”
- Greenlight for Golden Paradise Programme
The Cabinet of Ministers granted approval on 8 March for the Golden Paradise Programme which involves the granting of long-term visas to tourists interested in investing in Sri Lanka.
This development was announced by the Minister of Youth and Sports, Minister of Development Coordination and Monitoring, and State Minister of Digital Technology and Enterprise Development Namal Rajapaksa on his official Twitter handle.
“On the request of His Excellency Gotabaya Rajapaksa, the Cabinet approved a long-term visa option for tourists investing in Sri Lanka! This will not only significantly increase the FDI (Foreign Direct Investment) but will also encourage more professionals and experts to invest, work, and live in Sri Lanka! #GoldenParadiseVisa,” tweeted Minister Rajapaksa.
- Exporters to get Rs. 30 extra per USD converted
The Cabinet of Ministers on 8 March granted approval to pay an incentive of Rs. 30 per US Dollar (USD) on export earnings with the expectation of easing the difficulties faced by exporters.
This proposal, which was furnished by Minister of Trade Bandula Gunawardena and presented to Parliament, requested to pay an incentive of Rs. 30 per USD earned on export earnings over the previous quarter to companies that have achieved at least 10% export progress compared to the corresponding quarter of the previous year.
- Russia warns oil price will hit $ 300
Western countries could face oil prices of over $ 300 per barrel and the possible closure of the main Russia-Germany gas pipeline if governments follow through on threats to cut energy supplies from Russia, a senior minister said last Monday (7).
Oil prices spiked to their highest levels since 2008 on Monday after US Secretary of State Antony Blinken said Washington and European allies were considering banning Russian oil imports.
“It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy Prime Minister Alexander Novak said in a statement on state television.
- Google is buying Mandiant for $ 5.4 billion
Google on Tuesday (8) announced it has agreed to buy cybersecurity firm Mandiant for around $ 5.4 billion, one of the largest acquisitions in the tech giant’s history and a big bet that helping companies better address cyber threats can bolster its cloud computing business.
“The acquisition of Mandiant will complement Google Cloud’s existing strengths in security,” Google and Mandiant said in a joint statement Tuesday. “Combined with Google Cloud’s cloud-native security offerings, the acquisition will help enterprises globally stay protected at every stage of the security lifecycle.”
- Fitch Ratings warns Russian bond default ‘imminent’
A leading ratings agency has warned Russia is likely to soon default on its debts, as it downgraded the country’s bonds further into “junk” territory.
Fitch Ratings slashed its assessment of Russia to almost the bottom of its scale, just days after downgrading it from investment status.
“The further ratcheting up of sanctions, and proposals that could limit trade in energy, increase the probability of a policy response by Russia that includes at least selective non-payment of its sovereign debt obligations,” Fitch said.
- Apple introduces new products
Apple Inc. introduced 5G versions of its low-end iPhone SE and iPad Air tablet, as well as a redesigned Mac desktop computer and faster processor, kicking off what’s likely to be its most prolific year yet for new product releases.
Apple unveiled the devices during a virtual event last Tuesday (8) that it called ‘Peek performance,’ looking to keep up its momentum following a record-setting holiday quarter that exceeded Wall Street’s expectations. Chief Executive Officer Tim Cook also announced plans to bring Major League Baseball games to the company’s TV+ streaming service.
- EU court rules UK must pay billions of euros
The European Union’s top court has ruled against the United Kingdom, upholding a claim from the European Commission that the former EU member should pay the billions of euros it failed to collect due to import fraud.
Tuesday’s (8) ruling came after the European Commission complained that importers into Britain evaded a large number of customs duties with false invoices and artificially low value declarations for Chinese textiles and footwear.
The EU executive estimated that the EU budget lost 2.7 billion euros ($ 2.9 billion) from 2011 to 2017 and there were additional potential losses of value-added tax. All EU members were liable for such financial consequences, it said.
- Adidas ousts Puma to kit Italy soccer team
Adidas has struck a sponsorship deal with the Italian national soccer team to kit out the European champions from next year, replacing arch rival Puma (PUMG.DE), the German sportswear group said last Wednesday (9).
Puma has sponsored Italy since 2008 and will provide their kit for the World Cup in Qatar later this year, assuming the team qualifies for the competition.
- Biden orders Government to study digital dollar risks
US President Joe Biden signed an executive order on Wednesday (9) requiring the Government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, administration officials said.
Biden’s order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on ‘the future of money’ and the role cryptocurrencies will play.
Wide-ranging oversight of the cryptocurrency market, which surged past $ 3 trillion in November, is essential to ensure US national security, financial stability and US competitiveness, and stave off the growing threat of cyber crime, officials said.
- Japan downgrades Q4 GDP on service sector weakness
Japan’s economic rebound was softer than initial estimates in the final quarter of 2021, revised data showed on Wednesday (9), as the pickup seen in consumer and business spending was weaker than first reported.
The downwardly revised growth is bad news for policymakers tasked with keeping the country’s fragile recovery on track as a jump in commodity prices due to the Ukraine crisis and persistent supply disruptions heighten economic uncertainty.
Revised Gross Domestic Product (GDP) data released by the Cabinet Office showed Japan expanded an annualised 4.6% in October-December. That was lower than economists’ median forecast for a 5.6% gain and the preliminary reading of 5.4% released last month.
- McDonald’s, Starbucks, Coke, and Pepsi all halt sales in Russia
Consumer giants including McDonald’s, Coca-Cola, and Starbucks have joined the list of firms halting business in Russia due to the invasion in Ukraine.
McDonald’s said it was temporarily closing its roughly 850 restaurants in Russia, while Starbucks also said its 100 coffee shops would shut.
On Wednesday (9), Heineken stopped beer production and sales in Russia.
Mothercare said all business in Russia, which represents 20% to 25% of its global sales, had been stopped.
(Sources; CNN, BBC, Aljazeera, Reuters)


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Latest 1-800 Contacts Stories
DRAPER, Utah, July 16, 2014 /PRNewswire/ -- At a groundbreaking ceremony today, 1-800 CONTACTS, Inc. announced it will be constructing a new corporate headquarters facility in Draper, Utah.
DRAPER, Utah, Sept. 13 /PRNewswire/ -- For a short time, contact lens wearers may soon hit the jackpot. 1-800 CONTACTS is announcing a "Free Contacts for Life" sweepstakes that will reward those who will win all the contact lenses they will ever need, for life.
Retailer Provides Dramatic Savings on both Contact Lenses and Youth Eyewear BENTONVILLE, Ark., March 19 /PRNewswire-FirstCall/ -- Committed to helping Americans save on out-of-pocket health care costs, Wal-Mart Stores Inc.
- Forsooth! indeed! originally a parenthetical phrase used in repeating the words of another with more or less contempt or disdain.


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Oklahoma City Thunder announce date team will begin selling single-game tickets
The Oklahoma City Thunder announced the date fans will be able to purchase single-game tickets for the upcoming season.
Tickets will go on sale at 10 a.m., on Sept. 30. According to the Thunder, fans can purchase up to four tickets for each game.
Fans who want to purchase tickets sold by Thunder season ticket members were able to start buying those tickets on Thursday on thunder.nba.com.
Each game day, fans can enter to win 50 pairs of tickets through the Kia Thunder Rewards Zone. Those giveaways begin with the team's regular-season opener.
On Wednesday, the Thunder announced the team would begin the season in Portland on Oct. 29. They will open at home on Nov. 30 against the Denver Nuggets.
The Thunder are currently scheduled to appear on national television 32 times during the upcoming season, including on ABC on Christmas.


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June 28, 2022
By Pavel Jiřík in Blog
There have been countless famous (and less so) cases of identity theft in history - from false Dimitry I, who posed as the miraculously rescued youngest son of Ivan the Terrible, to dozens of girls pretending to be grand duchess Anastasia Nikolaevna of Russia. All they needed was a convincing story that could persuade people to do what they wanted.
Modern con artists and fraudsters aren’t that much different. Using a believable tale and a bit of psychological manipulation, they can persuade people to hand over their credit card details or other important personal information like ID details. In the US alone, identity theft cost citizens $56 billion in 2020. Worldwide, 86% of consumers have fallen victim to identity theft or fraud at least once.
The situation is even worse if cybercriminals can obtain information from a business database - then they will have access to millions of records that they can use for fraud. Sometimes, such attacks are so spectacular that they even make it to the news. We’ll take a look at some examples of those in a moment.
What Is Identity Theft?
Identity theft occurs when someone obtains your personal information and uses it without your consent or knowledge. They might then use your personal information to apply for a loan, make purchases using your credit card, or apply for government support money or medical services, to name a few examples.
The biggest problem with those attacks is that many victims realize far too late that they have been scammed - often when their credit card is declined during shopping or a bank call reminding them about an overdue loan. According to the FTC, someone becomes the victim of identity fraud every 14 seconds!
What is required in order for someone to take over your life? Just a bit of carelessness, actually - like responding to a survey that promises a shopping voucher, falling for a “technical support scam” when a criminal posing as a tech support employee asks you to download something, or answering a call from someone offering to help you fill in tax returns or government aid paperwork.
You just have to make the mistake of giving them some information that is “necessary for verification”. As soon as a criminal obtains your online login and password information, ID number, or social security number, they know exactly how to take advantage of it - often with devastating consequences.
How Can Identity Theft Affect You?
Whichever scheme an identity thief uses to steal your data (from coercing you to give the details yourself, through attacking a company’s database, to buying the information on the darknet), their goal is the same - their own financial gain. Here are some examples of what identity thieves might do with your sensitive data:
- Open fraudulent credit cards
- File phony health insurance claims
- Use your bank account or credit card to make unauthorized purchases
- Sell your data on the darknet
- File a fraudulent tax return or steal your tax refund
- Access your bank account and change the pin codes or security answers
- Take out loans in your name
Depending on the type of theft that occurs and how the criminal uses your information, you might either find that your bank account is empty, several unauthorized purchases were made, or there are overdue loans on your account. Fixing the situation will also depend on how quickly you responded and how much damage was caused - it could take a day, but it might be months or even years.
While you can’t exactly prevent yourself from being the target of an attack, if you learn how your data can be stolen and what fraudsters might do with it then you'll be better able to protect it and act quickly if someone does manage to obtain it. What better way to learn than looking at some examples of successful attacks? Let’s see some of the most spectacular identity theft cases in the last few years.
The 4 Biggest Identity Theft Frauds in Recent Years
The COVID-19 outbreak has brought a real surge in cybercrime. Fraudsters not only took advantage of companies having to move most of their business operations online but also used the chaos to trick regular people into sharing their personal data by pretending to offer governmental support or testing kits.
The number of attempts to steal our data is so high nowadays that they rarely make the headlines anymore - unless it's something really spectacular. But even before remote work times we had a couple of astonishing theft cases - let’s look at some of them.
The David Matthew Read Case
In 2018, 35-year-old David Matthew Read and 37-year-old Marc Higley, pretending to be Demi Moore’s personal assistants, reported that she had lost her no-limit American Express card and requested for a new one to be issued.
Read obtained his target’s social security number and other identity information from the internet, then using this data he wrote a request to American Express to replace the card that Moore had “lost”. He then posed as her personal assistant sent to retrieve the “Black” card at a Santa Monica FedEx facility. Read even manufactured an ID badge that looked like it came from the Hollywood actress to bolster his claim that he worked for her.
Then, Read spent over $169,000 in the span of five weeks shopping at New York's luxury shops, most likely to resell the goods later. Higley meanwhile accompanied Read on shopping trips to multiple Nordstrom, Apple, Bloomingdales, and Saks Fifth Avenue stores around Los Angeles.
How were they caught? Read made a pretty silly mistake - he used the stolen credit card together with his own personal one to pay off a balance on some of the transactions. Surveillance cameras later caught both him and Higley using the stolen card in a Nordstrom store.
In the end, Higley was sentenced to 14 months in a halfway house and ordered to pay restitution of $52,670. Read, who had already been charged for allegedly purchasing a Mercedes using another person's information, was sentenced to years in federal prison.
The Turhan Armstrong Case
Turhan Armstrong was convicted in 2017 of managing a $3.3 million scam using stolen identities. What makes the case especially egregious is that Armstrong used the Social Security numbers of children and people who had left the US.
Because parents seldom monitor their children's credit scores and people who have left the country are also not expected to monitor them, the scheme continued for nearly a decade. Armstrong and his accomplices used the stolen data to apply for loans from multiple financial institutions across the country, as well as obtain credit cards, open bank accounts, set up shell companies, purchase homes, and buy cars.
The police discovered something was amiss when Armstrong failed to declare any income to the IRS between 2009 and 2017 while still maintaining multiple residences in Georgia, Florida, and Northridge. During the course of the investigation, the authorities discovered hundreds of fake IDs, credit cards, and social security numbers.
In 2020, Armstrong was convicted of all 51 offenses listed in a grand jury indictment (including conspiracy to commit financial institution fraud, money laundering, and aggravated identity theft) and sentenced to 21 years in prison. He was also ordered to pay $3.3 million in restitution and forfeit two homes — one in Northridge, the other in Perris — purchased with illicit funds obtained from the scheme.
The Kenneth Gibson Case
Kenneth Gibson worked as an IT professional for a large software company from 2012 to 2017. Because of his job, he had access to thousands of people's personal information, including employees and customers, who he unfortunately exploited.
Gibson designed a special computer program that would read people’s information from the company’s database and automatically open fake Paypal accounts in their names. He would then use the stolen identities to apply for credit accounts linked to the established accounts. Over time, Gibson managed to open over 8,000 accounts. To avoid being caught, he only transferred small amounts of money, took cash advances from the credit line, and accessed the cash with a debit card.
And the scheme might have been running for longer if Gibson didn’t get careless. Usually, he would retrieve the cash from an ATM machine, but one time he asked PayPal to send him a check. The name on one of the checks that PayPal sent him matched a victim’s name, which tipped the police off.
In 2018, Gibson was sentenced to 4yearsin prison and supervised leave for 3 more. He also had to pay $1 million in compensation and sell his assets in order to repay the $3.5 million he stole from his victims.
The Luis Flores Case
Stealing the identity of ordinary people is one thing, but how bold do you have to be to pretend to be a famous celebrity, FBI director, or US Marshals service director? Yet, that’s what Luis Flores Jr. did in 2014, together with his mother.
A then 19-year-old Luis Flores, Jr. called the credit card company American Express claiming to be Kim Kardashian, changing her social security number and address to his own so that he could receive new cards. American Express got suspicious though, so they reported Flores and his mother to the Secret Service. And the investigators sure found a lot on them.
Flores had a flash drive loaded with private data from celebrities and politicians - from Michelle Obama and Bill Gates to Paris Hilton, Beyonce, and many more. The said drive contained not only their personal details and security numbers but even their credit card accounts.
What’s more, Flores was also linked to cases involving fraud against the US Marshals Service Director Stacia Hylton and former FBI director Robert Mueller. Using the personal information, he and his mother changed the victims' addresses and phone numbers on their accounts, ordered replacement cards, and also made several wireless transfers from the targeted accounts to their own.
In 2014, Flores was sentenced to three and half years in federal prison for his acts. Meanwhile, his mother was sentenced to three years of probation on top of her jail sentence for lying to the authorities in an attempt to cover up her son's fraudulent activity.
Could Those Attacks Be Prevented?
What do all those stories have in common? The first is that criminals got hold of someone's personal information and used it to commit fraud. Unfortunately, we don't have much control over that - even if we ourselves share our personal data very carefully, all it takes is one disgruntled employee who has access to customer details for our details to fall into the wrong hands. Criminals can also get pretty creative when looking for loopholes they could abuse.
But the second point is that the banks mentioned in these stories only reacted once they noticed there was clearly something suspicious happening on the customer’s account(s). Since the fraudster had all the details of the actual customer, how were they supposed to know that it wasn’t Demi Moore’s personal assistant calling them but an impersonator?
If those companies had access to voice biometrics solutions and could check the caller’s identity in real-time, however, then it would be far easier for them to spot a suspicious person on the line. While criminals can access customer data like passwords or security numbers, impersonating a voice is a totally different story.
The way each human speaks depends on hundreds of unique traits that voice biometrics use to analyze and confirm a caller’s identity.
As long as the system has a stored voiceprint of the actual customer’s voice, it can identify fraudsters on a call in seconds - even if they can answer all security questions smoothly or pass other verification methods. And since voice verification can run in the background during an entire conversation, that also reduces the chances of a fraudster realizing they have been rumbled and ending the call - giving company employees enough time to report the caller.
Fraudsters adapt quickly, and they often get pretty creative when it comes to stealing our data. While it’s probably impossible to avoid them completely considering the technology they have now, we can make their “jobs” harder by not sharing our data on suspicious websites and monitoring our bank account activity.
What about companies though? They can protect themselves and customers who reach out to them via the phone with voice biometrics. Powered with AI, these systems can immediately identify who is asking for a new credit card or to change account details - the actual customer or a fraudster. If you combine basic security tips with the latest technologies, you will be on course to keeping the fraudsters at bay and limiting the damage they can cause.


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German luxury car maker Mercedes-Benz today launched AMG GT S in India in the performance car segment priced at Rs2.4 crore (ex-showroom Delhi).
The car, which comes with a 4-litre bi-turbo engine, is the company's 14th new product introduction of the year in the country.
The company had announced its plan to launch 15 new products in 2015 in India.
"The launch of the AMG GT S is the finest example of our top-of-pyramid approach for the Indian market as we are presenting the most acclaimed product from our global portfolio," Mercedes-Benz India MD and CEO Roland Folger told reporters.
With the AMG GT S, the company has yet "another winning product" for India, he claimed.
The car comes with various features, including adaptive brake lights, composite braking system, automatic child seat recognition and eight airbags.
Mercedes-Benz currently sells ten AMG products in the country.
Photo credit: Indiatimes
Architects of India's future will define the agenda for growth in this Golden Decade, at the Times Network India Economic Conclave - 25, 26 March | New Delhi. Watch LIVE coverage from the ground on Times Network News channels and www.indiaeconomicconclave.com.


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Mattel is feeling encouraged by the progress made in its core brands this year, as it continues its turnaround efforts in the face of its latest financial results.
The global toy firm has said it remains comfortable with its full-year outlook and the steps forward its is taking on re-energising the company, despite the dip in its third quarter results this year.
The California-based company posted quarterly net income of $223.8 million compared to $331.8 million it saw for the same period last year.
The firm’s net sales slipped 11.3 per cent to $1.79 billion, whiles sales dipped four per cent in constant currency.
Worldwide gross sales for Mattel girls and boys brands slipped five per cent in constant currency to $1.12billion. Sales for Fisher-Price brands gained one per cent in constant currency, taking its revenue to $625.3 million for the third quarter.
“Our results for the quarter, excluding the significant impact from currency exchange rates, were broadly in line with our expectations at this stage of our turnaround,” said Christopher Sinclair, Mattel chairman and CEO.
“Importantly, we are very encouraged by the progress we are making on re-enrgising the company, building momentum in our core brands, improving retail execution, reducing costs and building scale in key emerging markets.
“As we continue our turnaround efforts, we remain comfortable with our full-year outlook.”


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Covid-19 and commercial rent arrears disputes – the picture so far
Landlords of office premises can take some comfort from the first known arbitration under the lockdown regulations of the Commercial Rent (Coronavirus) Act 2022.
The arbitrator decided that a tenant which kept an office open with just two workers on site, lost its protection to protected rent debt under Covid-19 rules, even though it was forced to close its 300 retail stores at the same time.
As a result, Signet Trading Ltd – the company behind the H Samuel and Ernest Jones jewellery brands – has had to pay landlords, First Property Group, £450,000, the total rent it withheld during pandemic restrictions.
What rent debts are protected under Covid arrears legislation?
Under Section 4 of the Commercial Rent (Coronavirus) Act 2022, which received royal assent in March, ‘protected rent debt’ is defined as a debt under a business tenancy where the tenancy was ‘adversely affected by coronavirus’.
The aim is to provide a mechanism for the assessment and relief of certain rent debts through a binding arbitration system aimed at resolving disputes where landlords and tenants have not been able to agree a way forward.
Why did this fail to meet the criteria for ‘protected rent debt’?
Signet argued that its offices fell under the closure requirements imposed by the government’s mandated lockdown rules and was therefore subject to the same exemptions as its retail portfolio, which was forced to shut during the pandemic.
First Property, on the other hand, maintained that the office was never required to close because it was not used for the purpose of offering goods for sale.
The arbitrator, at preliminary stage, agreed as the government rules did not, at any time, impose closure on office accommodation.
Therefore, he decided, the tenancy was not adversely affected by coronavirus under the Act with no protected rent debt which could form the basis of arbitration.
First Group’s Martin Pryce said: “Too many businesses tried to use the cover of Covid-19 to avoid paying rent that was rightfully due. Landlords should not have to pay for this.”
What are the implications of this rent arrears decision for landlords of office premises?
It’s basically good news for two main reasons:
- It provides some clarity and confidence for landlords that when a mutually agreeable solution with a tenant can’t be reached in advance, the arbitration process is operating in line with the provision set out in the Act;
- If Signet had been successful, it could have created a disparity between office tenancies with a wider business in retail or hospitality being eligible for relief whilst businesses operating in other sectors but not forced to close despite being adversely affected, remaining ineligible.
Also, as the decision came after the arbitrator scrutinised the case at an early stage, it demonstrates that by considering eligibility under the Act at an early stage, both sides of the dispute can be saved the cost of a full arbitration.
When is the deadline for referrals under the act?
The current deadline was 23 September 2022 for making a referral to arbitration under the Act.
The arbitration process has been little used so far and way below the government’s projected figure of 7,500 cases, probably because most landlords prefer a negotiated commercial solution.
Get in touch
If you would like to know more about the arbitration system or would like advice on what to do next to find a solution, please contact Wards Solicitors’ highly experienced Commercial Property Disputes team.


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Rob Bluey and Kelsey Harris
April 23, 2013
The U.S. Senate is debating the so-called Marketplace Fairness Act. It’s a bill that would result in the taxation of Internet sales, driving up costs for consumers. The legislation cleared a procedural hurdle Monday and could have a floor vote by Thursday.
This is a classic case of where the interests of big business and big government intersect. President Obama offered his support Monday after strong lobbying by state politicians and corporations like Amazon.com and Walmart.
But not all businesses are signing on to this new scheme. Etsy, an e-commerce hub where individuals can sell handmade items such as arts and crafts, warned yesterday that the legislation would “unnecessarily burden small businesses. Most Etsy sellers work from home and don’t have the administrative resources to comply with the law.”
According to the Tax Foundation, there are 9,646 tax jurisdictions in the United States, creating the kind of complexity that would frighten any small business.
“How can we possibly know the tax rates in [those] jurisdictions?” said Overstock.com CEO Patrick Byrne. “In one jurisdiction, cotton candy is food; in another it’s entertainment or candy.”
Reason TV’s Nick Gillespie interviewed Byrne in 2009 about why he’s opposed to the plan. Byrne said the Marketplace Fairness Act is anything but fair.
Continue reading at 9,646 Reasons to Dislike Marketplace Fairness Act | Internet Sales Tax.


text: DETROIT ( TheStreet) -- Ford ( F) said November sales rose 6%, while GM ( GM) reported a gain of 3.4% as the auto industry remained a bright spot for the economy. Shares in Ford were rising in early trading Monday, up 14 cents to $11.59 shortly after the open. GM shares were flat. In New York, Ford CEO Alan Mulally was scheduled to appear at Lincoln Center to discuss Lincoln marketing as Ford seeks to reinvent the 90-year-old luxury brand. Meanwhile, Chrysler reported its best November sales since 2007, with sales up 14%, while Toyota ( TM) said its sales rose 17% to 161, 695. On the Ford sales call, analyst Erich Merkle said Hurricane Sandy created industry demand for 20,000 to 30,000 vehicles in November, including sales delayed from October as well as replacement vehicles.. "We expect the replacement demand to lead in December and it will take us through the first half," he said. Ford said November sales totaled 177,673, with retail sales up 12%. Small-car sales rose 76% to 26,848, as Focus sales rose 56% to 18,312. Overall, car sales rose 15%, trucks rose 4% and utilities rose 2%. Sales of the F-Series pickup, the best-selling U.S. vehicle, rose 18% to 56,299. However, Fusion sales declined 24% to 15,125, as Ford introduced a new model. Lincoln sales fell 9.1% to 5,732. Escape sales fell 3.9% to 20,970, but Edge sales rose 4.7% to 10,142. GM reported its highest November sales in the United States since 2007, with deliveries of 186,505 vehicles. Retail sales were flat and fleet sales rose 16%. Passenger-car sales rose 19%, crossover sales rose 9% and truck sales fell 11%. GM said it declined to match "unexpectedly high competitive incentive activity" in the pickup truck sector. Buick sales rose 22% to 13,289 while Cadillac sales rose 30% to 14,517. Chevrolet sales were flat at 128,867. Analysts were looking for a low double-digit sales increase for November. TrueCar.com forecast a 13% gain while Edmunds.com predicted an 11% gain and a seasonally adjusted annualized sales rate of 15 million, up from 14.3 million in October. Ford's Merkle said industry November sales were up about 10%. NoMerSo far, frenzy over the so-called fiscal cliff doesn't seem to have impacted auto sales, while Hurricane Sandy has stimulated demand for replacement vehicles.