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Imagine bidding more than $US 2.3 million for an original watercolour by Austrian expressionist Egon Schiele, not over the telephone, nor as an absentee bidder, but through a website. One lucky bidder acquired Schiele’s Reclining Woman two years ago through Auctionata. The Berlin-based start-up is disrupting the mid-range market that falls between eBay and traditional houses such as Sotheby’s and Christie’s with live, streaming auctions of art, jewellery, collectibles and other items.
Launched in 2013, by Austrians Alexander Zacke, with a 25-year pedigree in the auction business, and CTO Georg Untersalmberger, Auctionata recently raised $US 45 million ($58.7 million) in a round of funding.
Zacke came up with the concept after years of working at a traditional auction house.
“There was a very high-end, traditional market and a very low-end, peer-to-peer market. The problem with the mid-market – which is, by far, the largest chunk of the market – is that peer-to-peer doesn’t work, because people don’t want to risk their money beyond a certain point. And that price point is very low – in the hundreds, if that much.”


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—The Ram Restaurant and Brewery is expanding its footprint to downtown Tacoma. It has purchased the old Nisqually Power Station building in downtown Tacoma at 2416 S. C St.
Ram chief operating officer David Iverson confirmed the purchase, but declined to give many details, stating that the company was still working through the specifics of what to do with the location.
Iverson did say that the purchase was a long time coming for the South Sound-based company with restaurants throughout the country.
“The Nisqually Power Station was somewhat of an emotional purchase for us. The opportunity to own and preserve such a beautiful, historic building in Tacoma's Brewery District was too tempting to pass up, and it's something that we have been considering for some time,” wrote Iverson via email message.
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One thing is certain, the windows need repairing. Iverson said the company was working on that. “We’ve received approval to do so from the historic commission and we are working to get that done,” said Iverson via message.
The downtown space appears to be more than 20,000 square feet. A newsletter from the City of Tacoma’s Community and Economic Development Department explains, “The company recently acquired the former Nisqually Power Station (1911) for adaptive reuse to add brewing capacity and a taproom to its popular chain of brewpubs.” According to the newsletter, an opening is planned for 2017. The document also noted, “Owner Jeff Iverson, Jr. is working with the City of Tacoma Landmarks Preservation Commission to reactivate the historic south downtown structure.”
This is the second large brewery development announced in recent months. The co-owners of 7 Seas Brewing announced in December that they will add a second brewery location downtown at a site that once held the Heidelberg Brewery. Construction is underway.
Additionally, Oregon-based McMenamins, known for its beers and hotels, is working on one project in downtown Tacoma that will restore the old Elks Lodge, but also has proposed a second project at The Old City Hall.

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While the brand is preparing to market the new 208, Peugeot Avenue unveiled its new animation DEDICATED new model Peugeot. Through the movie "208, let your body drive" Peugeot Avenue gets deployed around 208 since its revelation playing on interactivity and lightpainting codes. The showroom is fully plaited black giving way to a slight logo and sculpture in "nano light" that expresses artistic
This weekend, fans of Canadian racing have the opportunity to celebrate the rich history of Toyota in the field of motorized sports. With a presence leading in almost all forms of automotive competition, Toyota currently has many vehicles at the highest level, particularly in the NASCAR championship. Camry participates in Sprint Cup and Nationwide Series, while the Tundra participates in Camping
8 December last, Peugeot has organized an innovative event with the latest technology such as 3D projection mapping and Kinect. These innovations have allowed to better illustrate the brand signature "Motion & Emotion" and the positioning of the new Peugeot 208 "Let your body drive". This film has already exceeded over one million views on the internet in five days. Posted on December 13 last on
The Kia Sportage car declared the year 2011 by Motoring TV - The 2011 Sportage and 2011 Forte5 a tailgate prevail in their respective category FROM Motoring 2011 - The 2011 Sportage is named car of the year by Motoring 2011, marking the 5th Canadian prices received since its launch in July 2010 The all new compact utility vehicle (CUV) Sportage 2011 Kia Motors was named car of the year 2011


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SACRAMENTO, Calif. (Legal Newsline) – California Attorney General Xavier Becerra announced May 24 that Cox Communications California LLC (Cox) and other related entities will pay $3,318,700 to resolve allegations of unlawfully disposing hazardous waste.
“If a company wants to do business in our state, it must abide by our laws,” Becerra said in a statement. “Unlawfully disposing of hazardous waste can lead to serious health and environmental risks. Unlawfully disposing of personal customer information can seriously jeopardize a person’s right to privacy and open the door to identity theft. The California Department of Justice will continue working with state and local agencies to prosecute those who violate our environmental and customer record laws.”
According to a press release, Cox allegedly violated California’s Hazardous Waste Control Law and Unfair Competition Law when it improperly disposed of hazardous batteries, electronic devices and aerosols.
“The Alameda County District Attorney’s Office has an environmental protection unit and a consumer protection unit dedicated to ensuring that all entities abide by state laws protecting our natural resources and consumer protection laws,” said the Alameda County District Attorney in a statement. “Today’s settlement marks a victory for both the environment and for the customers of Cox Communication. The legal action also serves as a warning that companies who unlawfully dispose of hazardous waste will be brought to justice.”


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WASHINGTON, D.C. President Donald Trump on Wednesday criticized Nordstrom for what he said was its unfair treatment of his daughter Ivanka after its decision to not purchase her clothing line for this upcoming season.Shares of the retailer fell 0.7 percent after the president’s criticism. They later recovered to trade up 0.2 percent.”My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person always pushing me to do the right thing! Terrible!,” Trump said on Wednesday in his post on Twitter.In a statement last week, Nordstrom said it routinely cuts brands each year and that the decision to pass on the Ivanka Trump brand had been based on its performance.A day after Nordstrom’s statement, luxury retailer Neiman Marcus Group also said it had stopped selling Ivanka Trump’s jewelry line on its website and a store in New Jersey, according to Yahoo News.In North Carolina, fashions and accessories from the Ivanka Trump line were also removed from the Charlotte-based Belk department store website over the weekend. Items will remain in some brick and mortar stores, according to reports.Since winning the presidential election on Nov. 8, Trump has targeted specific companies on Twitter. But this is his first tweet criticizing a business tied to his family since the victory.Ivanka Trump ran a clothing and jewelry business bearing her name, in addition to other work for the Trump Organization, before saying she would resign when her father was sworn in as president last month.ProPublica reported on Feb. 2 that the Trump Organization said Ivanka had resigned her positions but that it had not yet filed the changes. The Trump organization later said the filings would be done by Feb. 3, according to the report.
SAN FRANCISCO — In an effort to address economic disparity laid bare by the coronavirus pandemic, San Francisco voters overwhelmingly approved several tax measures targeting property owners and big businesses with CEOs paid far higher […]
With the advent of the Internet—and Facebook, Twitter and YouTube—the role of the news media has been forever transformed, with negative implications for both investing and the American psyche—as if there were a difference between […]
Brian Contreras represents the worst fears of the lucrative business travel industry. A partner account executive at a U.S. tech firm, Contreras was used to traveling frequently for his company. But nine months into the […]


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In just-food’s latest deep dive into the market pull for more sustainable food, Ben Cooper looks in-depth at the US market.
Sustainability is becoming an ever more important facet of doing business for US food manufacturers. This can be seen in business-to-business terms as companies adapt practices and reform relationships with partners to take greater account of environmental and ethical factors. Equally, it is a consumer phenomenon, as the increasing consumer pull for more sustainable food in the US shows.
As has been seen elsewhere, manufacturers and retailers are both responding to demand and leading the trend, as growing concern about food sustainability in the US steadily becomes a feature of the mainstream consumer market.
The acquisitions of plant-based food makers Sweet Earth and WhiteWave Foods by Nestle and Danone respectively are among several recent deals in the US that speak to the mainstreaming of once niche categories. Arguably no recent deal stateside speaks more persuasively to the mainstreaming of sustainability than Amazon’s takeover of Whole Foods Market last year.
Indeed, the commonly held view that the US has lagged behind some European markets in terms of general consumer awareness of sustainability may be fair but must be qualified by the longevity and growth of Whole Foods Market, which has built a nationwide presence and profile over almost four decades that would arguably rival any comparable specialist retailer elsewhere in the world.
Sustainable food in the US
According to Euromonitor International’s Passport Ethical Labels database, which tracks sales of food and beverage products with ethical labels relating to people, environment and animal welfare, the total market for such products in the US was estimated to be US$262.5bn in 2017, rising to $267.4bn in 2018. This makes the US the largest market in terms of total sales of food and beverage products with these types of labels, according to Euromonitor.
Sales of food and beverages bearing labels relating to environmental sustainability stood at $198.6bn in 2017, Euromonitor states, while food and beverages with labels detailing human sustainability criteria reached $181.6bn. Sales of food differentiated by animal welfare criteria reached $5.5bn. As the categories overlap, they do not sum to the total.
Euromonitor estimates the market has grown by around 5% between 2016 and 2017 and will grow by another 5% by 2018.
Moreover, the research firm is predicting further growth. “Our data shows that retail value sales of packaged food with an ethical claim will increase year-on-year by 4% in the US between 2018 and 2020 as increased awareness, availability and affordability continue to drive consumer interest in ethical food purchases,” Euromonitor ethical labels analyst Trishna Shah tells just-food. Shah says the “biggest winner” in terms of categories will be savoury snacks with retail sales growth averaging 8% year-on-year. Baked goods and confectionery are also expected to outperform overall growth in packaged food, Shah says.
This positive outlook is confirmed by the experience of major US food manufacturers which report increased interest in sustainability among their consumers. Jerry Lynch, chief sustainability officer at General Mills, says consumer interest in general in products offering enhanced sustainability criteria is rising. “We continue to see growth in their interest in products that demonstrate either sustainability attributes, or a sustainability back story that communicates work that’s going on in the underlying supply chain.”
Lynch cites the sustained growth General Mills has seen in its organic ranges as the most tangible indication of changing consumer sentiment, while Danone also identifies the growth it is recording in organic dairy as speaking to increased consumer awareness about sustainability.
A spokesperson for Danone’s business in North America also points to the popularity of its Non-GMO Project verified yoghurt and plant-based products as further evidence of the trend. “Without a doubt there is strong interest among sectors of the population in the US that are keenly interested in voting with their purchases for foods they feel deliver the values they prioritise,” he says.
Consumer interest in food sustainability in the US is also shaping research and development and new product innovation at Hormel Foods, according to Kevin Myers, the company’s senior vice president for research and development. “While sustainability initiatives have been a focus for Hormel Foods for many years, the heightened consumer awareness around sustainability has resulted in us taking an even more focused approach in this area.”
Mainstream grocery retailers are also responding to increased demand for more sustainable food in the US. Walmart has for some years aimed to take a leadership position on sustainability, not least in the launch of its Project Gigaton supply chain carbon initiative launched last year. The retailer also recognises demand for a more sustainable approach to sourcing food from its customers.
“Customers today have high expectations for companies,” says Micah Ragland, Walmart’s director of sustainability communications. “They want to feel good about the products they buy and the companies they buy them from. They are asking for more visibility into how food is grown and products made, as well as the people and companies involved in those processes.” Ragland adds the retailer focuses particularly on meeting these demands in produce, animal agriculture, grains and seafood.
Defining the market
While not included as one of the specific criteria in the Euromonitor International Ethical labels statistics, the growth in organic food clearly reflects growing sustainability awareness among consumers. According to the Organic Trade Association, a membership body that promotes the organic food sector in the US, sales of organic food reached $47bn in 2016, up $3.7bn on the previous year.
Regarding human sustainability, a further measure of rising consumer awareness is the growth in fairly traded foods. In fact, the US has two significant organisations certifying fair trade food, Fairtrade America, which is part of the global Fairtrade International (FI) labelling organisation, and Fair Trade USA, which split off from the FI group in 2011. Both organisations report healthy growth in foods certified as fairly traded.
Last September, Fair Trade USA reported sales of products bearing its mark across food and non-food categories reached US$6bn in 2016, while Fairtrade International reported in October that retail sales of Fairtrade-certified products in the US rose by 5% in 2016 to US$1.07bn.
Sustainability is such a broad term, with so many diverse connotations and associations, that the trend towards heightened consumer awareness of sustainability overlaps with other key market trends, such as clean label, growing demand for more locally produced food and, in particular, health and wellness. How consumers relate to terms like ‘sustainability’ and ‘sustainable food’ in the US is, as has been found in other markets, complex and multi-stranded.
Hormel Foods, for instance, has placed a particular emphasis on clean label, and emphasises this in the context of the general move in the consumer market towards more sustainable food in the US.
The Hartman Group, a Seattle-based market research firm specialising in analysing cultural drivers in the food and beverage sector, has conducted consumer research on clean label in the US. It found 65% of consumers say they look for food and beverages that have the shortest list of ingredients, while 58% of consumers say they look for food and beverages that contain only ingredients they recognise.
Euromonitor International also sees clean label as a significant driver of the overall “Ethical Labels market”, including claims such as ‘no artificial flavourings’, ‘no artificial sweeteners’ and ‘no artificial preservatives’ within the “People” sub-category of the Ethical Labels database. “This is particularly pronounced within the emerging snacks market in the US where the vilification of sugar and chocolate confectionery has seen more consumers turn to savoury snacks, often perceived as healthier,” Shah says.
Hormel Foods sees its work on clean label as building on its sodium reduction programme, confirming further the connection consumers make between sustainability and better-for-you food.
Strong associations with health and wellness
Many food companies and analysts see important links between growing consumer interest in better nutrition and sustainability.
Consumers are increasingly asking three fundamental questions about their food: What’s in it? Where is it from? Who made it and how?
“While consumers may be in different places regarding their knowledge of and ability to purchase natural and organic foods, collectively we see a shift toward wanting better-for-you foods,” says Tanya Rodriguez, senior cultural anthropologist at Hormel Foods. “Additionally, while influencers lead the charge, consumers are increasingly asking three fundamental questions about their food: What’s in it? Where is it from? Who made it and how? These questions reflect consumer concerns about their own health and wellness as well as that of workers, animals and the overall environment.”
This view is supported by Tish Van Dyke, global sector chair for food and beverage at global PR firm Edelman. Van Dyke believes consumer perceptions in the mainstream around the term sustainability are blurred and some of the nuances are not fully understood but says associations with better nutrition are key in how consumers understand the term sustainability. “When they say they want more sustainable products there’s probably not a clear definition amongst consumers what that means,” Van Dyke says. “But they’re saying to companies they want products that are both more nutritious, and better for them, meaning healthier, and that have less impact on the environment.”
Nestle also sees sustainability and nutrition as closely linked. “We see clear evidence that people’s palates are changing as routine consumption of food has given way to culinary discovery, where consumers want control over their food’s nutrition, flavour, sourcing and sustainability,” a spokesperson for Nestle’s US arm says. “Consumers are more informed and sophisticated than ever, and as we’ve talked to them, we’ve learned sustainability is more than a single issue or topic; it’s much broader. They want premium foods made with simple ingredients, sourced responsibly. And when it comes to sustainability, consumers want to see more than a label. They want to dive into the next level to see for themselves where their food comes from.”
So, food sustainability in the US signifies different things to different people. As Lynch observes: “There is no such thing as the consumer. There are many consumers and they all have slightly different viewpoints.”
Value add and premiumisation
Above all, while there may be diverse motivations at play and some consumers may not understand all the finer details around topics such as sustainable supply chains or Fairtrade, they recognise sustainability criteria as adding value to the foods they are buying.
Lynch says consumers “decode sustainability work in the underlying food supply chain as better-quality products. They recognise that companies are paying really close attention to the ingredients that are going into the food they’re eating. That’s where it comes home to roost.”
As to whether these perceptions of quality foster premiumisation opportunities, Lynch emphasises the premium price differential will more commonly simply come down to the higher costs associated with production of products such as organic.
“The reality is that the underlying costs of the ingredients are higher,” Lynch says, adding premium pricing tends to be more a feature when a new category first emerges. “In any early new-stage market, there’s always a premiumisation opportunity. As the market grows, typically the premium tends to go away over time as those types of products become more readily available and the means by which to produce them become more efficient.”
Tamara Barnett, vice president of strategic insights at the Hartman Group, says there is “money to be made” from companies offering premium products with sustainability cues, but says they must also be mindful that growing consumer awareness around sustainability has “raised the bar” for standard products.
“Many of the attributes that consumers are looking for in certain categories are requiring rethinking and new strategies around sourcing and production and that often does translate into a higher cost,” Barnett says. “But, because that is the new baseline in many cases for consumers, they [consumers] are not necessarily expecting all of those costs to be translated over to them. Certainly some of them are, where they feel those distinctions really warrant an extra cost, but in some ways the minimum threshold is rising for everyone.”
This would appear to be borne out by Walmart’s view on premium positioning for more sustainably produced foods. “At Walmart, we don’t want customers to have to choose between a product they can afford and one that’s good for the environment,” says Ragland, citing the example of its target to source all its private-label coffee sustainably by the end of 2020.
It has been suggested by some analysis that US consumers are more attuned to environmental concerns than to issues around human sustainability, such as the ethical treatment of impoverished smallholder farmers.
However, not all subscribe to this view and the Euromonitor International statistics also appear to show little hard evidence for this. “I think we see consumers as interested in the human rights supplier treatment types of questions as they are in the environmental questions,” Lynch tells just-food.
Hartman Group’s research, Barnett says, suggests consumers do make strong associations between the term sustainability and environmental factors but once the term sustainability is removed the picture is very different. In fact, when the subjects are approached from a broader standpoint research reveals these human factors “resonate more strongly and intuitively than the environment does”.
Van Dyke believes US consumers tend to relate more closely with environmental sustainability than with social criteria, and this sets the US apart from European markets. However, she expects awareness of human sustainability criteria to accelerate among US consumers over the next few years, along with awareness around food waste.
The brand-consumer relationship
Van Dyke sees food companies as playing a vital role in expanding consumer awareness and understanding around the sustainability of agricultural supply chains, not only in terms of environmental impacts but also regarding social and human factors relating to food production.
Moreover, Edelman’s Earned Brand research underlines food brands and major retailers such as Walmart are in a very strong position to do this. Among other metrics, this study quantifies the strength of the consumer-brand relationship which it defines in terms of the Brand Relationship Index.
The Edelman Brand Relationship Index for US consumers is 40, in comparison with a global average of 37, and significantly lower figures for countries such as the UK (34), France (31), Germany (31) and the Netherlands (29).
Consumers tend to be more trusting of brands in the US than in Europe, Van Dyke suggests, which means companies may encounter less scepticism when looking to communicate information around sustainability criteria than might be the case in European markets.
Lynch appears to confirm this, judging there to be little difference in how consumers receive sustainability information about General Mills and how they receive other information. “I don’t see sustainability attributes as being any different than other attributes that consumers might be seeking in products in their willingness or ability to trust brands,” Lynch says.
Edelman has also conducted some sector-specific research within its Trust Barometer study of 33,000 consumers across 28 markets which is revealing in this context.
This work has not yet been published but Van Dyke reveals globally 61% of respondents agree with the suggestion “large-scale food and beverage production has harmed the environment and lowered nutritional standards”. In the UK, the proportion is 65% but in the US it is lower than the global average at 59%.
That the figure is still 59% shows there is little room for complacency on the part of US food manufacturers. Indeed, Lynch is not alone in emphasising the link between promoting sustainability values to consumers and transparency. “Part of the sustainability journey is one of transparency as well, and in a world where consumers can know anything almost about any product it’s really important for us to be transparent about the work that we’re doing.”
Nevertheless, the close rapport US consumers feel with familiar brands may put US food companies in a relatively strong position when it comes to communicating the sustainability attributes of their products and seeking to make sustainable values intrinsic to their brands.


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PHOENIX (AP) — Arizona farmers will quickly start growing hemp as its byproduct – CBD oil – is exploding in appeal, with a few supporters saying it might overtake a conventional crop into the state because there’s more cash within the cannabis plant than cotton.
The market that is emerging hemp, which contains ultra-low amounts of the THC that produces a top in cannabis, are going to be focused in Arizona on creating plants and seeds which you can use which will make CBD oils, said Randy Pullen, a previous state Republican Party president and hemp processing company investor who helped put up a situation chapter for the Hemp Industries Association.
CBD oils are increasingly getting used in meals so that as discomfort relievers, and for other medical ailments. In April, nevertheless, the foodstuff and Drug management issued warning letters to organizations to make unapproved health claims about CBD items.
Farmers can easily see a profit that is big over standard Arizona plants like cotton or alfalfa, Pullen stated, netting $600 per acre compared to about $100 for standard plants like cotton.
“Economically it is far more profitable to plant and harvest hemp than it really is to grow and harvest cotton or alfalfa,” Pullen stated in a job interview Tuesday.
That estimate may differ commonly though, centered on federal studies associated with the crop done prior to the present CDB oil trend.
And farmers, a lot that is notoriously careful may be cautious with switching to a crop without a well established market and purchasers improving to contract for plants, stated Kevin Rogers, executive vice president with all the Arizona Cotton Growers Association.
“These guys have actually opportunities in land, in equipment, in precisely what it requires to help keep their farms 12 months that is certainly going 12 months,? Rogers stated of cotton farmers. “A man may take to five acres from it, nonetheless it’s means pre-mature. It’s great that there’s a new crop for us. we can consider, however it’s in the infancy stage”
The 2018 state law allowing hemp that is industrial and processing would be to just take impact in August after state agriculture officials set up a licensing and official certification system. But state lawmakers relocated up the effective date associated with the state legislation to May 31 after the federal Farm Bill passed in December and legalized hemp that is industrial.
Brian McGrew operates this program for the department and said it really is applications that are now reviewing expects to start issuing licenses this week. Seeds might be into the ground by mid-month.
About 200 applications, mainly for growers and processors, was filed following the official window started on Friday. He stated Wednesday that 35 of those are complete, like the fingerprint clearance card, plus the quantity is rising daily.
The National Conference of State Legislatures states a lot more than 40 states have established commercial hemp cultivation programs.
The cannabis targeted for Arizona is not the same variety as utilized to create hemp rope, but rather is just a strain optimized to create the absolute most plants and seeds to process into CBD natural oils and powders. Following the plants and their seeds are eliminated cbd oil for sale and prepared, the staying dietary fiber can be useful for animal feed, as a tangible strengthener or as insulation, among other uses, Pullen stated.
Farmers as well as others involved in hemp, including people who harvest, transportation and procedure it, must hold state licenses granted by Arizona Department of Agriculture to get fingerprint approval cards. Licenses begin at $150 for harvesters and transporters and head to $1,500 for the grower and $3,000 for a processor. Costs per acre or per ton of processed product plus evaluating fees are added on and licenses can be renewed yearly.
The department will not understand how numerous acres can be planted in hemp this current year because a farmer may show their entire holdings as a possible area that is growing. When planted, the plots will likely to be marked with indications showing it’s commercial hemp.
Pullen stated he won’t be surprised to see hemp displace a few of the cotton grown in Arizona in the event that market takes off as some scholarly studies have recommended. Their state saw about 175,000 acres planted in 2017, federal numbers show.
“Probably half of that’ll be hemp in a couple of years,” he said.
Rogers, the cotton relationship official, said that is not very likely unless and before the market matures.
“Obviously the buying price of (cannabis) oil is outrageously priced, so everyone’s taking a look at that and thinking they’re going to produce thousands of dollars,” rogers said. “And you understand, i am hoping somebody does. But our dudes are likely to wish to have good agreements and be sure it is planning to work.”
One concern for growers is pushback from medicinal cannabis producers who worry that hemp shall cross-pollinate with regards to marijuana strains. Arizona marijuana that is medicinal grown in greenhouses, but any hemp plant within 10 kilometers could jeopardize the industry.
“They are extremely focused on that,” Pullen stated. “We’ve seen that throughout the country.”
There aren’t any state guidelines as to how close hemp can be grown to greenhouses where medical cannabis is farmed, McGrew stated.


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WASHINGTON -- Draft legislation to create a consumer financial-protection agency will exempt auto dealers from new regulation, House Financial Services Committee Chairman Barney Frank said today.
An Obama administration proposal to establish the agency as part of a broader effort to tighten financial oversight in the wake of subprime mortgage, credit card and securities scandals had been opposed by the National Automobile Dealers Association.
The association contended that dealer-assisted loans were not as susceptible to manipulation as other financial products and were already sufficiently regulated.
“NADA is pleased that Chairman Frank has indicated that auto dealers are not to be regulated by this new agency,” NADA spokesman Bailey Wood said. “The chairman's decision reflects the fact that dealers are already subject to numerous federal and state financial regulations.”
He said NADA would not decide whether to change its position on the bill until it can review the legislative language.
NADA mobilized 500 dealers and dealer representatives at its Washington conference last week to lobby against the bill. The association has joined forces with the Chamber of Commerce, banks, mortgage lenders and auto finance companies.
Frank, D-Mass., said in a letter yesterday to other Democrats on his committee that he would soon release a legislative draft that would make changes to the administration's proposal.
The letter lists businesses that would not be subject to regulation by the new agency, including auto dealers, accountants, real estate brokers, lawyers and others.
“CFPA will not disrupt merchants, retailers and other nonfinancial businesses or subject banks and other depository institutions to needless additional regulatory burdens and costs,” Frank's letter said.
Frank has scheduled a Sept. 30 hearing to discuss formation of the new agency.
The nonprofit Consumer Federation of America, which is lobbying for the bill, expressed disappointment at Frank's decision.
"The exception concerns us given the occasional sketchy track record of some auto dealers on consumer lending, especially with minority consumers," said Travis Plunkett, the federation's legislative director. "It doesn't make sense to us that there should be one set of regulations for banks that offer auto loans and another set for dealers that offer auto loans."


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Over the last year, a number of researchers around the world have suggested that NASA’s controversial EM Drive might work after all. Tests done over the last two years at NASA’s Eagleworks Lab seem to indicate that thrust is being produced by this device without any propellant of any kind. Even the military is taking an interest.
The problem with the EM Drive is that it seems to contradict the known laws of physics – a point that has made most scientists reject the possibility that the EM Drive could actually work. According to Newtonian theory, all reactions require an equal and opposite reaction. But that doesn’t seem to be happening with the EM Drive.
But despite the skepticism of much of the scientific world, researchers from Europe to the United States and China have found small but consistent thrust being produced by this device – dare we say engine. But if the EM Drive functions as advertised, it could mean a revolution in space propulsion.
Today, space propulsion is dominated by chemical rockets that have to carry tons of fuel with them as they travel. This places a limitation on their speed and how much cargo they can carry. Without the necessity of carrying fuel along, a spacecraft equipped with an EM Drive and powered by solar panels or a nuclear reactor could travel ridiculously far and fast.
Currently, it takes anywhere from six months to two years to reach Mars from Earth. Calculations show an EM Drive equipped spacecraft – manned or unmanned – could reach Mars in 70 days or less. This is roughly equivalent to how long it took colonists on sailing ships to travel across the Atlantic to the New World. So this is literally a game changing technology – if it works.
Disney has been ahead of the curve when it comes to robotics since the 1960s when they first placed animatronic attractions in their theme parks. While those older attractions might seem a bit outdated in the modern world, they were once centerpieces of the technological prowess of the family-focused Disney experience. Disney has once again proven that they are an industry leader in the field of robotics with their newest animatronic addition, which is a rendition of a Na’vi shaman from the popular Avatar franchise.
Disney opened Pandora: World of Avatar at the end of May, and it is located in the Animal Kingdom park as part of the main attractions of the location. The entire area is themed after Avatar, and while it has only been accessible by the public for a few weeks, it has already attracted a lot of attention. In particular, the Na’vi River Journey ride offers an experience unlike any other in the world of animatronics. As the ride comes to an end, riders will be greeted with an incredibly lifelike robotic Na’vi shaman that dances and chants with the realism of a living creature. There is no doubt this piece of technology represents one of the most, if not the most, advanced animatronic creations ever conceived.
A look under the artificial blue skin of the robotic figure reveals an exceptionally intricate animatronic skeleton with many, many points of motion and control. To look at the robotic skull in action is to see technology that would have seemed to be nothing more than science fiction even just ten years ago. Disney plans to incorporate more of these animatronic figures into their attractions, and there are even rumors that they are considering fully autonomous figures that could move and act independently of any robotic foundation or direct human control.
Elon Musk has been one of the most innovative people in modern history. He is best known for developing Paypal, Tesla, and SpaceX. While he has had a major impact on a range of industries and transportation, another one of his current ventures could prove to be the most impactful overall. Musk is currently in the development stage of the Hyperloop, which he is now referring to as the “fifth mode of transportation” (http://www.telegraph.co.uk/technology/0/hyperloop-will-future-transport/).
The Hyperloop is a futuristic mode of transportation that could prove to be the safest and most efficient transportation option ever. The Hyperloop will essentially be a high-speed train that will have the ability to transport people at speeds of up to 700 miles per hour. In an ideal situation, this could allow someone to get from Los Angeles to San Francisco is less than one hour.
While the Hyperloop has been in the concept stages for a long time, it appears to be gaining some traction and could soon be a more realistic goal. The train system has already been built on a much smaller scale and has shown that it will have the ability to move at the speeds quoted. While there is a lot of potential for the idea, and Musk has the ability to capitalize the project, there are a lot of challenges ahead that will need to be addressed.
One of the biggest concerns will be about the safety and comfort for the passengers. Taking off at 700 miles per hour could end up being a bit too much for some people and the seating arrangement need to be figured out to ensure customer comfort. There are also security concerns that need to be considered, which could end up adding to the overall commuting time from one city to the next.
How smart is too smart? According to Elon Musk, artificial intelligence will become too smart too soon. He is calling for government regulations, but he isn’t exactly a Cassandra.
Musk provided an audience at the International Space Station R&D Conference with an example of technology that is too smart: DeepMind’s AlphaGo. The machine’s intelligence isn’t the concern so much as the speed at which the machine was able to learn and apply its knowledge. AlphaGo is years ahead of schedule and this lack of predictability is disturbing. It indicates that AI is unpredictable and if it goes on “learning” at rates that are faster than developers anticipate it can cause a “tidal wave” of problems.
Musk’s claims aren’t dramatic. He put his concerns in context by comparing AI to other technologies that had been revolutionary at the time – including air travel and telecommunications. Both of those technologies evolved alongside government agencies, like the FAA and the FCC, that monitored and controlled their development. Musk suggests that a similar agency needs to be developed now so that AI developers have limits to what their bots can accomplish.
The idea of tighter regulations seems to go against entrepreneurial innovation and Musk is aware of his own contradictions. As an entrepreneur and inventor he often rails against government regulations but he does see how they are necessary. He is calling for regulations now because he knows that artificial intelligence is growing more sophisticated and powerful each day. By the time the government catches up, Musk warns that artificial intelligence is, “…going to come on like a tidal wave.”
Elon Musk is making the rounds, speaking at the International Space Station R&D Conference which was on the heels of his talk at the National Governors Association. Though quite a bit of attention has been spent on Musk’s concerns regarding artificial intelligence, SpaceX’s progress on the Mars colonization front is still a high priority for many investors and other people. Though familiar obstacles, from physics and weather and technology and experimentation, have conspired to create a typical recursive process in the development of spacecraft, ultimately money might be the singular factor that prevents people from living on Mars.
First the tech. SpaceX is backing away from propulsion rockets because developers have determined the craft no longer needs a controlled descent to land on Mars. Replacement rockets are being designed and developed. Those will likely not be unveiled this year, but the highly anticipated Falcon Heavy inaugural flight is slated to occur later this year. The Falcon Heavy will likely not get far from the launch pad, despite the nine rockets strapped to the spacecraft. According to Musk, the design proved to be “way, way more difficult” than anticipated. The lift-off will provide some real world data that cannot be created in simulation. The slow-down on the design translates to a slow-down on capital.
TechCrunch reports that part of the SpaceX plan to colonize Mars is dependent on money generated from a smaller spacecraft capable of orbiting the Earth. Whether used for space tourism or government-backed missions, the earnings from the smaller spacecraft will fund the development of the larger craft and the Mars mission. It seems that even one of the world’s richest men needs to pay for his dreams.
The digital revolution includes a lot of changes for artificial intelligence. It is shaping business, fashions and products for the future. The web is always full of predictions for the future especially regarding new technologies. Artificial intelligence is playing a role in driving recommendations, customer service and search responses. The idea is to go back in time to when business owners knew their customers. Modern technology is improving the value received by today’s shoppers in the real world and on the internet.
Artificial Intelligence is being used for chatbots. This is a customer service tool being used by many of the popular brands for beauty and fashion. It is primarily used in the messaging space and has been successful in converting new customers. Emphasis is being placed on a style of shopping without the friction. Todays customers expect to get exactly what they want easily and quickly including when they pay for their purchases. The Internet of Things is connecting stores, fitting rooms, checkouts and more. This is the level of convenience consumers want and are beginning to expect. For even more information on the future of technology please visit https://www.forbes.com/sites/rachelarthur/2016/12/19/8-tech-trends-that-will-shape-the-future-of-fashion-and-luxury-retail-in-2017/#43416dfd7615.
The Internet of Things will require a voice interface. This is becoming a huge platform and Apple, Microsoft, Google and Amazon have already become major players. This is about so much more than having an impact of consumer goods. Fashion brands will be able to experiment and find a potentially new future for their brands. A prediction has been made by Mary Meeker of KPBC that by the year 2010 at least half of all web searches will be using either image or voice searches as opposed to text. This will be more convenient and efficient than typing and the reason why voice interfaces are creating a new world for humans interactions with computers.
Fans of Amazon and Alexa will be happy to read a review of the new Echo Show device that The Verge has published. Amazon customers that already own the Echo device may have found themselves interested in the new show version of the product without being able to determine if it is something worth the investment. The short answer to that question is yes, you should consider buying an Echo Show if you are already a fan of the original Echo. There are a lot of improvements that the screen will provide that would ensure your daily experience is simply better than it has been with the basic Echo. An example of this would be the ability to display lyrics when you ask the device to play music. If you listen to a considerable amount of music with the regular Echo, you would be able to see a significant improvement with the addition of lyrics on screen. Also, the speakers on the Show are much improved compared to the older Echo. Another vast difference that you are going to appreciate would be the visual representation of things such as timers and weather, this is a vastly improved way to see all of your information quickly. You can have Alexa show you things and watch videos on Youtube. Of course, you can see products on Amazon by making use of the screen for the purposes of shopping.
These improvements are the most noticeable, they rank highly amongst the reasons that you should consider purchasing this device as an upgrade. However, you are also going to find that the video calling feature is a lot of fun when trying to communicate with friends and family in the kitchen. Although the camera quality isn’t the best, it works well for chatting in this area of your home. Echo fans should pick this device up from Amazon now for an enjoyable experience.
Excitement and curiosity about Elon Musk’s hyperloop, has been building. In a piece published on Reddit early Tuesday, it was reported that Musk just announced he had received “…verbal government approval…” to move ahead with the hyperloop project, connecting New York City, Philadelphia, Baltimore, and DC. Many people were unsure about what exactly verbal approval might mean, however, Elon later clarified that there was “[s]till a lot of work needed to receive formal approval”, but he remains optimistic.
Many people are more curious to know what exactly the Hyperloop is. Elon describes the hyperloop as closed loop system of underground tubes, best suited for distances of less than 500 miles. Low pressure pods will glide at top speeds, (possibly over 700 miles per hour), over air bearings, floating in a way that is similar to a puck across an air-hockey table.
While Musk made the idea available to outside organizations in 2013, his renewed interest in the project has generated lots of excitement. At this point Elon has not stated whether he plans to work with one of these outside engineering organizations, or develop the transportation technology using his own company.
The ability to move over great distances at increased speed, is something that has already revolutionized our world several times over, and the implementation of this technology is no different. The actuality of a hyperloop could see commuters living in Philadelphia and commuting to work in NYC every day. The hyperloop could also greatly alleviate traffic in these areas. While the future of the hyperloop remains uncertain, many are excited by the possibilities this proposed transportation innovation may bring.


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The company called ChromaDex Corporation, an innovator of nutritional and health ingredients, announced that an independent scientific panel of experts determined that NIAGEN , a patented formula of Nicotinamide Riboside (NR) is Generally Recognized As Safe (GRAS).
Generally recognized as safe (GRAS) is an American Food and Drug Administration (FDA) designation that a chemical or substance added to food is considered safe by experts, and so is exempted from the usual Federal Food, Drug, and Cosmetic Act (FFDCA) food additive tolerance requirements.
It is a very strong testimony that Nicotinamide Riboside supplementation is safe without side effect. It should be noted here that the GRAS status was only given to Chromadex’s commercially available form of nicotinamide riboside (NR) called Niagen. This formula is protected by five patents issued and several pending and so far it appears this is the only NR form that is known to be commercially available. Hence when buying NR it seems prudent to ensure oneself of the source to avoid buying false formula’s.
Frank Jaksch Jr., founder and CEO of ChromaDex, commented, “Receiving GRAS status immediately allows NIAGEN to be included as an ingredient in both food and beverages –applications that we believe presents a very substantial opportunity for ChromaDex. Coupled with the recent NDI status, we believe the stage is set for widespread commercialization of NIAGEN as an innovative and compelling ingredient across a myriad of consumer products.”
You can find the press release here.


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According to the source, the Xiaomi 11T and 11T Pro, which recently debuted in Europe, will soon receive a Chinese registration, but they will be called differently – Redmi K40S and Redmi K40S Pro. However, the Redmi K40S series will have not two, but three models. It is possible that the renamed 11T Lite 5G NE will be the third.
At the same time, the Redmi K40S will be somewhat different from the 11T. For example, it is reported that the base model of the series will be built on the Snapdragon 870 platform (11T – MediaTek Dimensity 1200) and will receive a 64-megapixel camera (11T – 108-megapixel). It is possible that there may be other differences, for example, in battery capacity and charging speed.
The premiere of Redmi K40S may take place at the end of October, and real sales will start for the annual large-scale sale starting on November 11.


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By LaKeshia N. Myers
If ever there was a state that was ‘tardy for the party’, it would be Wisconsin. Wisconsin is an island unto itself, surrounded by Michigan, Illinois, Iowa and Minnesota—states that have legalized medical or recreational marijuana. States that have generated over $1 billion in taxable revenue; states that understand marijuana to be one of the best ‘green jobs’ of the future.
In Michigan, more than $42 million tax dollars from the recreational marijuana industry are expected to be doled out to 163 counties, cities, villages and townships, according to the Michigan state Treasurer’s Office. “This means each eligible municipality and county will receive more than $56,400 for every licensed retail store and microbusiness located within its jurisdiction.” Aside from the more than $42.2 million in disbursements to municipalities and counties, $49.3 million was sent to the Michigan School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund.
Since legalizing medicinal marijuana in 2015, Illinois sales reached nearly $1.38 billion, more than doubling the total from 2020, the first year of legal recreational marijuana sales in the state. Legal cannabis sales are projected to surpass $30 billion this year and reach $45.8 billion by 2025. Illinois is projected to generate $2.55 billion in annual cannabis sales by 2025, according to cannabis research firm, Headset.
Why must Wisconsin always be on the ‘late show?’ Your guess is as good as mine. I understand some have reservations about legalizing recreational marijuana use, but there is enough substantial research to show that cannabis and its byproducts (hemp, cannabis oils, etc.) provide positive contributions to medical science and that its long-term effects are not nearly as harmful as once believed. Wisconsin lawmakers are icing us out of a billion-dollar industry, based solely in agriculture. With cannabis and hemp, the possibilities are endless. We could be a generator of highly skilled, income generating, green jobs. But instead, the GOP-controlled legislature allows us to be a ‘bump on a log’ being left farther and farther behind.
Legalizing cannabis could help us fully fund schools, provide for lost transportation costs and fund an intra-state railway system. All things we desperately need to spur growth in the 21st century. I hope as we prepare for the next legislative session, serious thought is given to legalizing marijuana—at least for medicinal purposes. We are leaving far too much revenue on the table.


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Home Performance Alliance specializes in impact-resistant windows and doors to protect Florida homes when disaster strikes.
Since 1980, windstorms have caused almost $1 trillion in damage in the United States with 85 percent of that amount since 2000, according to Climate.gov. Increased population in coastal areas, such as Florida, combined with the effects of global warming indicate that damages exceeding that number will occur during the next 40 years.
Since 2007, the state of Florida has one of the strictest building codes in the United States as a result of the devastation caused by eight major hurricanes that hit Florida in 2004 and 2005. The state revised its code requirements for all residential construction and remodeling. “What’s important to know about Florida is we have issues with storms that other parts of the country don’t have to deal with,” Home Performance Alliance (HPA) President Gary Delia says. “In our state, it’s required to use high-impact glass or code compliant shields on any window replaced in designated wind-borne debris zones. However, homes are not always reinforced properly, and we saw evidence of this last year with Hurricane Michael when it devastated Mexico City Beach in the Panhandle of Florida.”
Communities in the Florida Panhandle were exempt to the impact protection provisions for homes built beyond one mile off the coast. The idea was that the Panhandle wouldn’t experience violent hurricanes like the hurricanes that hit the rest of Florida in 2007 and 2008. But then in 2018, Hurricane Michael happened, which was the first Category 5 hurricane on record to impact the Panhandle.
“To see the destruction left after Hurricane Michael was gut-wrenching because the destruction was in fact preventable. Some homeowners tried to use shutters or competitor’s ‘impact windows’ and those failed. There is a home left standing that was seen on almost every news channel after the storm, which was dubbed by some news outlets as ‘The Miracle Home,’” Delia says. “Their home survived because the homeowners built a reinforced home using our manufacturer’s impact windows. When it comes to your family’s safety and your home’s ability to withstand a Category 5 storm – your home must be reinforced. Competitors’ inferior products or shields may be the “cheaper” alternative, but as homeowners have realized after this storm – cheaper is not better and price should never be the deciding factor. More homeowners need to reinforce their homes now because when another major storm hits, and it hits a major metropolitan area it will be devastating.”
HPA has more than 10 years’ experience providing window and door replacement services for Florida homeowners. The company specializes in energy-efficient and hurricane impact vinyl windows and doors, servicing all of Pinellas, Hillsborough, Manatee, Sarasota, Charlotte, Lee, Collier, Pasco, Hernando, Citrus, Polk, Hardee, Osceola, Sumter, Marion, Nassau, Duval, St Johns, Flagler, and Volusia counties.
HPA sells its exclusive private label DuraShield windows, which are expertly engineered and Florida Product approved. The windows pass the most stringent product code testing by the state of Florida. The windows also prevent intense UV degradation that infiltrates homes and destroys furnishings. Additionally, they reduce radiant heat caused by the intense Florida sun which can reduce a homeowner’s energy bills significantly.
“We go above and beyond what the standard building codes require,” Delia says. “The biggest thing we emphasize is to not cut corners when it comes to storm protection. Our products are high-quality and the workmanship we provide is high-quality, so, we pay a higher price for that. There is a greater cost because of the high-impact glass on our windows must go through the rigorous and expensive testing by the state of Florida to be approved to be used in Florida. There is a windborne debris test where a two-by-four is shot out of a cannon at the window at 50 feet per second. Then it must be cycled with negative and positive pressure 4,500 times one way and 4,500 times the other way and the whole process is to simulate a hurricane or high wind effect. Then the windows must operate after that to pass.”
HPA is factory direct to the residential market, providing an exclusive proprietary product line of windows and doors. Delia says, “We can provide the consumer with greater accountability with a full-service warranty and workmanship on our products.”
Every window and door manufactured is custom made for each home. HPA sends professionally trained consultants to the consumer’s home to perform a thorough analysis of the openings and take precise measurements so the vinyl is custom cut to fit that opening. Consultants visit homes by appointment only, targeting neighborhoods where it has completed jobs in the past. “There are more people coming to Florida who have never lived here before and are not educated on the severity of storms in Florida and the devastation they can bring,” Delia says. “Our professionally trained consultants demonstrate the benefits of our new modern vinyl replacement windows. They bring working samples of the products used so the homeowner can evaluate the features that best suit their needs in the convenience of their own home.”
One of the things that sets HPA apart from other companies is its complete installation service: installing windows and doors, plugs and trim, and most cosmetic work (painting, stucco repair around the opening, etc.) to ensure that its windows and installations are aesthetically pleasing to the consumer once the project is completed. No other window company in HPA’s market does this full service. “In fact, HPA goes above the installation by offering continued warranty service after the installation at no additional cost,” Delia explains.
HPA completes over 250 projects per month and ensuring customer satisfaction has been its focus. Delia states, “We continue to modernize our customized CRM system to provide greater oversight and accountability throughout the supply and service chain. This enables us to handle more projects simultaneously while providing outstanding customer service for each of our homeowners. To ensure that this continues, we have developed an Executive Board of Customer Advocates and a dedicated 800 number that any homeowner can call and bypass all other personnel to ensure that the executives hear first-hand if there are any issues with any aspect of the service we provide. This implementation has been highly successful in ensuring that minor issues are corrected quickly and are not repeated.”
HPA works closely with its manufacturers to bring homeowners newly designed windows and doors. “We recently introduced our newly designed line of windows that are very modern looking with greater strength and durability, as well as designed with a new locking mechanism,” Delia notes. “The newly designed locking mechanisms provide greater security and protection from break ins. Most of our competitors are selling the same old product that have been around for 30 years. We offer a newer and more advanced product that has 33 percent more glass than any other vinyl window in our market, giving the home a more aesthetic look. Consumers always say they like the way our windows look when compared to other options.”
Although high-impact windows and doors are more expensive than traditional windows, homeowners in Florida do see a significant reduction in their homeowner’s insurance, Delia says. “In some cases, they can reduce the wind mitigation portion of their policy by 50 percent or more,” he explains. “That’s a big incentive to do it. Additionally, our windows have insulated glass with argon gas and have six coats of low e to reduce the solar heat gain, which can reduce their energy costs by up to 50 percent in many cases. The discount from the property insurance combined with the reduction in energy costs can mitigate the entire cost of the job in as little as five years. it’s a really good investment and makes good logical sense to get this done.”
The company has also added a new line of entry doors that increase home security, energy-efficiency and curb appeal. “Our exclusive entry doors feature blinds inside the glass and the doors come pre-insulated, painted and are really a beautiful turnkey door system,” Delia says.
Moving forward, HPA is focused on continuing to increase its market share and recently opened a new office in Orlando. “We see tremendous opportunity to expand our business and double our size in the next few years just in the state of Florida alone,” Delia says. “Orlando is really a fantastic opportunity for us and a large market area we feel we will do well in.”


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A Reddit poster who claimed to be in the know of Tesla Inc’s TSLA 1.62% investment in Bitcoin (BTC) has confirmed that the information he made public on Jan. 2 was not true, the New York Post
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Image source: Getty Images . It’s been an interesting week for investors. A hoard of Reddit users banded together to A Reddit poster who claimed to be in the know of Tesla Inc’s (NASDAQ: TSLA) investment in Bitcoin (BTC) has confirmed that the information he made public on Jan. 2 was not true, the New York A Reddit user says they recently regained access to the keys of 127 bitcoins eight years after last accessing the coins. Immediately after regaining access, the user sold all the bitcoins and Stock futures are lower following the S&P 500's sixth straight day of gains; bitcoin sets a record above $48,000 after Tesla buys $1.5 billion of the digital asset; Reddit's valuation doubles to Back in 2014, at a bitcoin and cryptocurrency conference I attended in Dublin, Reddit's r/bitcoin forum was mentioned many times on stage and even more by the audience. This was three years before If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to make a lasting impression with their final wishes die all the If you haven't heard of [Reddit](https://www.reddit.com/) — well, let's face it.
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A Reddit poster who claimed to be in the know of Tesla Inc’s (NASDAQ: TSLA) investment in Bitcoin (BTC) has confirmed that the information he made public on Jan. 2 was not true, the New York
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A Reddit user who claimed in a post a month ago to be a Tesla Inc insider and knew about the electric car maker's purchase of bitcoin said on Tuesday that his assertions were not true.otevřete twitter prosím
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Redmi Y2 AI Selfie Camera Launched in India
Another good news for Xiomi fans. Another smartphone was released in the Indian market at a budget price. Xiaomi Redmi Y2, a successor to last year’s Redmi Y1, has been launched in India on Thursday at an event held in New Delhi.
Xiomi of China is delivering phones at a very low price with good features. On Thursday, Xiomi released another phone in India. Redmi S2 is already released in China and this phone was released in India as Redmi Y2.
As everyone expected phone cost is less than 10,000 rupees. The phone price is Rs 9,999 with 3 GB RAM /32 GB internal storage, and a phone with 4 GB RAM/64 GB internal storage is priced at Rs 12,999.
5.99 (18: 9) HD display, Snapdragon 625 processor, Android 8.0 and MIUI 9.5 are phone specialities. The company also announced that it is going to launch MIUI 10 very soon. And the phone features back side 12 + 5-megapixel camera, and a front-facing 16-megapixel camera for selfies. Along with two SIM cards, you can increase memory with the help of micro SD card. The Face Unlock feature is also included.
The phone will be available on Amazon from June 12th. ICICI Credit Card / Debit Card customers can get Rs.500 instant cashback under the initial offer. Airtel customers can get Rs 1800 cash back and 240 GB 4G data. Bollywood actress Katrina Kaif is the brand ambassador for the phone.


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Beats by Dr. Dre is going solo. On Thursday Business Week reported that Dr. Dre and Interscope Chairman Jimmy Iovine will part ways with Monster Cable, the company that they partnered with to release their ubiquitous line of high-end headphones.
At the end of the year Beats Electronics’ five-year contact with Monster will end and Dre and Iovine have decided not to renew. Both companies are maintaining that the split is an amicable one.
Beats by Dr. Dre set a new standard in the headphone business, selling designer headphones at high price points and making a ton of dough along the way. Business Week reports that last year Beats products captured 53 percent of the $1 billion annual headphone market. Once the split is official Beats will retain the rights to the sound technology, design and the brand that they develop in conjunction with Monster.
Monster maintains that they will be fine without Dre and Iovine. “We’re competing with ourselves,” Monster chief executive Noel Lee said of the eventual competition he will face with the company he’s helped to create. “We can be the Apple of the headphones space, with or without Beats.”
Beats however doesn’t seem content with just the headphone market. Already the company has placed the sound technology in computers (Hewlett-Packard), cars (the Chrysler 300 S sedan) and in HTC smartphones.