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LA GRANDE — A La Grande-based travel agency and longtime local business is seeking to rebrand itself in the midst of the coronavirus pandemic.
Alegre Travel, a brick-and-mortar mainstay in downtown La Grande, is set to become Find Your Why Travel.
"I've changed the name to reflect what travel means to me," said owner Samantha LeBold. "Traveling — it's taken me on a journey. I've learned a lot about myself, and that's something people who don't travel really don't get. … I've found my 'why' and we'd love to help other people find theirs."
LeBold, who bought the business in 2015, said she is eager to help her customers "find their why." She also said it has proven difficult to find — and keep — those customers during the ongoing pandemic.
"COVID is horrible and what it's doing to our tourism industry is a nightmare," LeBold said, adding the business cancel every trip it had on the books for 2020.
Before the pandemic struck, travel was a multibillion-dollar industry in Oregon. According to a report prepared for the Oregon Tourism Commission in April, the statewide industry accounted for nearly $13 billion in spending in 2019.
That same report found travel and tourism were particularly important to rural Oregonian communities, generating roughly $18 million in tax revenue and 6,200 jobs in Eastern Oregon alone.
Then came 2020, and the coronavirus with it.
Greg Smith, director of the Small Business Development Center at Eastern Oregon University, La Grande, said while some essential businesses have thrived during the coronavirus pandemic, others are "hanging on by a thread."
"The impact is manifold in that you have real winners and real losers," Smith said. "[For] example, if you're running a liquor store you're doing extraordinarily well. On the other hand, if you're dependent on foot traffic coming in and sitting down ... you've obviously seen negative impacts."
Smith, who also is a state representative, said struggling businesses have to adapt to new economic conditions.
"The economy in 2020 has changed and the way people do business has dramatically changed," he said. "The old economy is gone."
Smith added brick-and-mortar businesses may need to "reinvent themselves" and modernize, suggesting transitioning to an online business or communication model.
Find Your Why has made progress in that direction. According to LeBold, she's done a great deal more business via email during the pandemic.
While LeBold said her local clients sometimes travel to Alaska and Hawaii, her personal preference would be to focus on booking small group vacations abroad.
Obstacles and uncertainties surrounding international travel also present a challenge to Find Your Why. Closed borders, mandatory 14-day quarantines in some countries and the risk of contracting the virus have widely stalled international travel.
The U.S. Department of State also warned travelers recently, "If you choose to travel internationally, your trip may be severely disrupted, and it may be difficult to arrange travel back to the United States."
Meanwhile, the travel industry continues to tighten its belt, and businesses such as Find Your Why try to balance safety with the need to put food on the table. For LeBold's part, she said she's urging her clients to decide for themselves.
"I feel so bad because people come in here and they want my opinion on this. I can't even give people a definitive answer on anything because it changes daily," said LeBold. "You should only travel right now if you feel comfortable traveling. You should not listen to me if I say 'oh, it's fine.' It depends on your comfort level."
Find Your Why Travel still will offer vacations domestically and abroad. LeBold stressed she wants her business to serve the same clientele Alegre did and her service would continue despite the pandemic.
As the COVID-19 situation drags on with no clear end in sight, only time will tell what will become of Oregon's travel industry or of brick-and-mortar businesses such as Find Your Why.
Editor's note: The Observer updated this article to reflect Alegre Travel, soon to be Find Your Why Travel, canceled all of its booking for 2020.


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Join Bay Area Amazonians, Tesla workers, Gig Workers Collective, People’s Strike Bay Area, Workers United Against COVID-19, & other essential workers on a creative caravan for worker safety, workers’ rights, & worker solidarity.
Or just show up!
Meet very early in the morning this Saturday outside the Amazon San Leandro warehouse, at the nearby Walmart parking lot.
Amazon is putting workers’ lives at risk. Drivers don’t have access to COVID data from the warehouse workers and vice versa, even though they interact daily. Amazon is even delaying release of information about infections because they’re required to pay people to quarantine at home, so sometimes they wait until after the quarantine period is over before they tell people they might have been exposed!
We will deliver signatures on this petition demanding that Amazon shut down the warehouse for 14 days of deep cleaning: https://www.coworker.org/petitions/close-dsf4-for-deep-cleaning-and-pay-workers-for-the-time-off-work

domain: news


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U.S. health officials said that their investigation into an outbreak of severe vaping-related illnesses is increasingly focused on products that contain the marijuana compound THC.Read More »
There's no proof that cannabis can relieve morning sickness, and mainstream medicine advises against use in pregnancy because of studies suggesting it might cause premature birth, low birthweight and infant brain deficits. But the National Institute on Drug Abuse is pressing for more solid evidence.Read More »
California, Hawaii, Maine and the District of Columbia filed lawsuits Monday against the maker of OxyContin and the company's former president, alleging the firm falsely promoted the drug by downplaying the risk of addiction while it emerged as one of the most widely abused opioids in the U.S.Read More »
Mainstream retailers are leaping into the world of products like skin creams and oils that tout such benefits as reducing anxiety and helping you sleep. The key ingredient? CBD, or cannabidiol, a compound derived from hemp and marijuana that doesn't cause a high.Read More »
Doctors who specialize in female pelvic medicine say lawsuits by four states, including Washington and California, over products used to treat pelvic floor disorders and incontinence might scare patients away from the best treatment options – or maybe even push the products off the market.Read More »
To all the world, it looked like breast implants were safe. From 2008 to 2015, the U.S. Food and Drug Administration publicly reported 200 or so complaints annually – a tiny fraction of the hundreds of thousands of implant surgeries performed each year. Then last fall thousands of problems with breast implants flooded the FDA's system.
Tagged with: U.S. Food and Drug AdministrationRead More »


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Local matters, but when you’re a growing business, it’s time to start thinking on a broader scale. So, when digital sales strategist Sara Fortin, of the Journal Star, reached out to a local farm and agricultural equipment dealer, her sights were set high.
A local powersports dealer in Hickory, North Carolina suddenly found themselves in a crisis. A big chain powersports dealer had set up shop only a mile away. And the store was in a more visible location. This new competition, combined with the cooler and wetter weather this past spring, resulted in a decrease in the local business’s numbers.
A local medical product solutions company in West Virginia was partnered with a smaller hospital in its area. Suddenly, a larger local hospital opened its own medical supply store, introducing new competition to the product solution’s company.
Change can be a good thing, but too much change all at once can spell ruin for a business. This was the situation Cota Walls found herself facing when she began courting a local furniture store. The regional digital sales specialist for BH Media Group saw the telltale signs of a company in trouble. Namely, a complete overhaul, including an ownership change, along with operating under a new banner. In fact, since it first opened, the company had undergone three name changes and two physical store locations.
A small-town car dealership in Indiana was already in trouble when it changed ownership this past spring. The previous owners had left the company in shambles, having lost credibility with customers and having built a negative reputation in the community.
Timing is everything. Sarah May, a marketing strategist for Smart.Market, recently experienced this firsthand. Earlier this year, while reading an “AdMall Minute” email, May took note of a consumer trend story about working with limousine companies during prom season.
If digital content takes a long time to load, 47% of Americans will give up trying to view it entirely. What steps are you taking to ensure that doesn't happen to your clients' ads?
SalesFuel is proud to announce the unveiling of its AdMall PRO's brand new Digital Audit 2.0, helping sales professionals sell more digital advertising and digital marketing services. With an eye on the future, SalesFuel’s development team collected user feedback to enhance and upgrade the features of AdMall PRO’s Digital Audit. The Digital Audit is a
Account Executive Jeannie Evans called on a small local feed store in her Longview, Texas territory for Suddenlink. The business operator told her he had no money for marketing. Having sold media for more than four years, she was not going to let that objection stand in her way.
SalesFuel®’s data and research tools now fuel sales at all major newspaper companies in the U.S. SalesFuel is pleased to announce their expanded relationship with Digital First Media, who has secured a corporate subscription to SalesFuel’s AdMall PRO product. AdMall is the sales intelligence leader for local media & digital marketing used by more than
University of Virginia Wins AdMall “Best Use of Marketing Research” Award at National Student Ad Competition (NSAC)
Creating a fully integrated, “real world” marketing and advertising plan for one of the world’s best-known tea and soda companies paid off big for the University of Virginia. They are the winners of the National Student Advertising Competition (NSAC), also earning the AdMall "Best Use of Marketing Research Award" during this year's American Advertising Federation (AAF) national conference, held this week in Anaheim, California.


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The German automotive giant Mercedes Benz, Audi and BMW have been busy trying to overtake each other in the Indian luxury car market. Few years back, Mercedes Benz was the synonym for the luxury car in India. Then with the arrival of the BMW it lost its crown. For the last three years BMW was ruling the Indian luxury car market. BMW marketed its cars quite aggressively and the launch of the successful models like X1 and 3 series made it quite popular among the Indian commuters. Audi played silently till recent years and overtook Mercedes in the month of April and threatened to do the same to BMW, which has been ruling the segment for consecutive three years. Now, Audi has managed to overtake BMW for the first time in the Indian sales figures. Audi sales reached the 759 units during June 2012 when compared to the 750 units sold by the BMW. The difference is not quite big but it could make a big difference in the future.
According to the figures from the Society of Indian Automobile Manufacturers (SIAM), Audi sales have shown a huge leap over the past figures. Audi has sold over 1908 units until March as compared to the 1254 units in the same period previous year.
While Audi displayed a 52% rise in the car sales figures in the first quarter of the year, BMW witnessed sale declineby 12.16% from 2088 units as against the 2377 units sold in the first quarter of last year.
Head of Audi India, Michael Perschke had earlier indicated that his company is already looking forward to outrun BMW by 2014. He also added that it’s the Audi effect that the customers are pulled by the strong brand name piled by the tough lineup of the luxury products in India. He said that Audi is not planning to become the market leader in 2012 but rather it will put its emphasis on building gradual momentum with the new products and stronger dealership network to sustain its newly acclaimed leadership for a longer period of time. He also said that the news came as a pleasant surprise but they are targeting the leadership by the start of the next year.
It may also be noted that the part of the Audi’s success story can also be attributed to the excellent response received by the newly launched Q3 crossover.


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by Anton Shilov
12/06/2012 | 01:08 PM
Tim Cook, chief executive officer of Apple, said in an interview that the company has intense interest in building its own line of TV-sets. He claimed that today’s TVs rely on technologies developed decades, which possibly points to necessity of reinventing the television as it exists today.
“When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years. It is an area of intense interest. I cannot say more than that,” said Tim Cook in an interview with NBC News.
After Steve Jobs himself announced plans for an Apple TV-set family, it makes no sense to deny that the company is working on one. However, in its usual manner, Apple never discusses any kind of details about its products before they are launched commercially. One of the things that have been confirmed is that Foxconn Electronics, Apple’s main contract manufacturer, had started to make preparations to produce iTV products. In fact, Foxconn is in talks to acquire Sharp's TV assembly lines in several countries.
Nobody knows what exactly is Apple TV-set and how competitive it will be in the light of emerging smart TVs with stereo-3D support and other technologies like cloud video game streaming. Like a lot of Apple's products, it may become a major success for the company and will transform the whole market of TV-sets.
One of the main features of Apple's television set is projected to be an ability to quickly search for content from numerous sources, including Apple's own iTunes. Given the fact that the user experience should be integrated, this feature alone presents a number of challenges. In order to provide unique capabilities and simplicity, Apple TV will likely integrate iCloud, Siri along with motion sensing support for content sharing and control purposes. In a bid to be able to control the TV using iPhone, iPad or iPod, the TV will be compatible with Apple's AirPlay technology.
The main intrigue behind Apple’s TV-set is when does the company plans to finally roll it out.


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The Boston Public Health Commission issued a proposed revision to the city’s current regulation, “Regulation Limiting Tobacco and Nicotine Access by Youth,” which would prohibit the sale of menthol cigarettes and menthol-, mint- and wintergreen-flavored tobacco products.
The proposed ban includes smokeless tobacco and electronic nicotine devices, except in age-restricted tobacco stores and smoking bars.
A public hearing is scheduled for Nov. 7. Comments from the public regarding the proposed expansion of the city’s flavored tobacco restrictions can be submitted to the Boston Public Health Commission through Nov. 8 at [email protected].
On Sept. 26, NATO will present a webinar titled “Tobacco Highlights and CBD Market Trends” with special guest presenter Don Burke of Management Science Associates. The webinar will begin at 2 p.m. Eastern Time.
Don Burke of Management Science Associates will present his trademark data rich presentation on current tobacco market category trends and an in-depth look into the growing CBD market and the performance of various CBD products. All industry members will find this presentation very informative with the most up-to-date information on tobacco and CBD products.
Register here: register.gotowebinar.com
After registering, you will receive a confirmation email containing information about joining the webinar on Sept. 26.
State Legislative Bill Introductions
State tobacco-related legislative bills that have been introduced in the past week are listed below alphabetically by state:
- Illinois: House Bill 3887 prohibits the sale of flavored tobacco products and vapor products (exempts menthol, mint and wintergreen)
- Michigan: House Bill 4996 prohibits the Governor from banning electronic cigarettes without state legislative approval
- New Hampshire: LSR 2208 (filed) prohibits the use of flavors in vaping products
- Pennsylvania: House Bill 1823 raises the legal sales age for tobacco products and vapor products from 18 to 21 — includes military exemption for age 18
- Wisconsin: Assembly Bill 422 increases the legal purchase age to purchase tobacco products and vapor products to 21 years of age
State Legislative Bill Actions
State tobacco-related legislative bills that have been acted on by a state legislative committee or state legislature are listed below alphabetically by state:
California: Senate Bill 39, which requires that packaging of tobacco products for delivery through the mail or other delivery services: (1) identify that the contents are tobacco and require a signature of a person 21 or older, and (2) require that such a signature be obtained upon delivery, was signed by the Governor on Sept. 16. Senate Bill 538, which requires e-cigarette manufacturers to provide the State Department of Public Health with a description and photograph of each type of e-cigarette product sold in the state, and allows the Department to charge an unspecified fee to cover the costs of the program, passed the Assembly Senate on Sept. 12 and was sent to the Governor.
Federal Legislative Bill Introductions
Tobacco-related legislative bills that have been introduced in Congress:
- Senate Bill 2463: Taxes alternative nicotine devices at the same rate as cigarettes


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Editor’s note: Each Thursday, Talk Business & Politics provides “Startup Talk,” a round-up of startup, technology and entrepreneurial news.
LITTLE ROCK TECH FIRM FILES MOST FTC CALL COMPLAINTS IN 2015
Little Rock-based First Orion announced Tuesday (April 5) that users of its PrivacyStar app filed 31% of all call complaints in 2015, according to the recent Federal Trade Commission (FTC) Consumer Sentinel Network Report. First Orion offers phone carriers, service providers and consumers a one-stop service that identifies and blocks unwanted calls and lets users report complaints to the FTC directly from their mobile app when the calls occur. To view the FTC’s annual report of consumer complaints for past year, click here.
According to the FTC report, debt collection was the number one complaint category with 29% of overall complaints, followed by identity theft (16%), impostor scams (11%), telephone and mobile services (9%), and prizes, sweepstakes and lotteries (5%). Over 1.2 million complaints were fraud-related and consumers reported paying out over $765 million with the median amount paid being $400.
U.S. DEPARTMENT OF COMMERCE SEEKS COMMENTS RELATED TO INTERNET OF THINGS
As part of the U.S. Department of Commerce’s Digital Economy Agenda, the National Telecommunications and Information Administration (NTIA) recently issued a Request for Comment on questions posed by the growth of the Internet of Things (IoT). The request is an important step in the Commerce Department’s continued effort to promote IoT, the broad category of devices, appliances, and objects that can be connected via the Internet.
The federal agency said it will use the input it receives to build on its broader agenda promoting economic growth and opportunity to help develop an approach that will foster IoT innovation. After it receives the comments, the DOC will draft a “green paper” identifying key issues affecting deployment of these technologies, highlighting potential benefits and challenges, and outlining possible roles for the federal government in fostering the advancement of IoT technologies in partnership with the private sector.
TOP DRONE MANUFACTURERS FORM LOBBYING GROUP
Leading global drone manufacturers 3DR, DJI, GoPro and Parrot recently formed the Drone Manufacturers Alliance, a coalition that will serve as the voice for drone manufacturers and customers across civilian, governmental, recreational, commercial, nonprofit and public safety applications.
Organizers said there are significant economic and social benefits to drone operations in the U.S., and industry must work with policymakers to ensure a safe environment for flying. The new alliance will advocate for policies that promote innovation and safety, and create a practical and responsible regulatory framework that “requires input from all stakeholders and must recognize the value and necessity of continued technological innovation,” the group said.


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Tim Hortons is continuing its international expansion with plans to open its first full-service coffee shops in Great Britain.
The company partnered with an investor to establish a master franchise joint venture company that will open the stores in England, Scotland and Wales.
In late July, Tim Hortons announced a similar agreement in the Philippines, which is the brand's first stop in Southeast Asia.
It did not specify how many stores it plans to open in Great Britain or when, but a spokesperson said in an email that it seeks to be a leader in the market.
Daniel Schwartz, CEO of Restaurant Brands International, said in a statement that the area is an attractive market with a strong and growing coffee culture.
RBI, the parent company of Tim Hortons and Burger King, is looking to grow Tim Hortons globally.
It reported its second quarter earnings earlier this month, which showed the number of Tim Hortons locations increased about three per cent to 4,464 stores in the quarter.


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In an unsurprising but disappointing turn, Google is shutting down its Stadia cloud gaming service only three years after unveiling the technology. The surprisingly – effective cloud gaming software was met with initial skepticism when Google announced it in 2019 – not because of the tech itself, but because of Google’s track record with cutting-edge technology.
The so-called “Google Graveyard” is littered with projects like Google Glass, Google Plus, and numerous other hardware and software initiatives that failed to take off. When gamers heard that Google planned to charge full price for streaming versions of existing video games, many feared that sinking money into the project would only end with Google pocketing the funds and shutting the service down, leaving players with nothing to show for their efforts.
Google’s leadership seems to have given up on Stadia without giving it an honest opportunity to succeed. Google, like Amazon before it, tried to muscle its way into the gaming industry with sheer financial might and seemed unwilling to listen to experts or follow the direction of the marketplace.
The biggest issue plaguing Stadia from the get-go was the pricing. Despite the service offering intangible benefits, like playing games without needing hardware, the cloud-streaming service still charged full price for games. That was a tall order for fans who worried that they might be paying for something that would vanish in a few years – and those fears ended up becoming a self-fulfilling prophecy.
Stadia as a service worked quite well – reviewers noted that, with a fast enough internet connection, it was easy to play games at 4K resolution and with 60 frames per second. Doing so without dedicated gaming hardware made the service intriguing, but the pricing structure kept many casual gamers away from it.
Ironically, Stadia filled a niche few gamers inhabited: it was ideal for hardcore gamers with the money (and good fortune) to access a blazing-fast internet connection, but without dedicated gaming hardware like a console or gaming PC. It turns out that these players were few and far between.
It’s impossible to overstate how much better Stadia could have been had Google followed a common streaming approach and made it a subscription service. By paying a flat fee each month, players should have been able to access a wide library of exclusive titles created in-house and a selection of high-end third-party games like Assassin’s Creed and Red Dead Redemption.
This would have solidified Stadia as the premier budget-friendly way to play video games. Instead, Google treated the experimental cloud service like a gaming platform – just one you would find on your web browser. This proved to be a fatal misstep, and the service will soon join many of its fellow Google experiments in the graveyard.


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Last year, Volvo CEO Stefan Jacoby said the Swedish automaker planned to expand its presence in China, doubling sales by 2021 and securing at least 20 percent of the premium luxury market alone 2015.
Read This Article
The 2012 model year will mark the inception of the Volvo C70 Inscription special edition.
Volvo plans to improve its leasing strategy to help the company stay afloat until new models are introduced next year.
At Automotive.com, we love a good tease, and that's why we're posting this new Volvo video teaser of the concept You.


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Zale second-quarter profit drops as same-store sales slip
Published 6:00 pm, Wednesday, February 20, 2008
Jewelry retailer Zale Corp. said Thursday that profit dropped 31 percent in its fiscal second-quarter on declining same-store sales, but that still beat analysts' estimates.
New Chief Executive Neal Goldberg called the results disappointing but said the company was reducing excess inventory and would make its stores more appealing to price-sensitive customers.
The Irving, Texas-based company said net income declined to $60.8 million, or $1.34 per share, from $88.1 million, or $1.80 per share, a year earlier.
Zale said income from continuing operations slipped to $52.7 million, or $1.16 per share, from $77.1 million, or $1.57 per share.
Analysts polled by Thomson Financial expected $1.10 per share.
Revenue fell 7 percent to $827.8 million and was below the $841.3 million forecast by analysts.
Same-store sales, a key measure in retailing, fell 7.3 percent.
"While these second-quarter results are disappointing, I am convinced that Zale has a strong basis for improved performance as we again provide our value-oriented customer with an exceptional experience," said Goldberg, who was recruited from The Children's Place Retail Stores Inc. to lead Zale.
Zale has had a succession of CEOs as the company has tried to deal with widening loses and a string of weak holiday seasons.
Goldberg told analysts on a conference call that he was still assessing the business, but that he already spotted areas for improvement.
"Our overall marketing is, at best, fair, which is not good enough," Goldberg said. "There is too much inventory in our cases … and we are complicating matters further with our pricing strategies," which he said are too complicated.
Goldberg said the company will reduce $100 million in inventory, and believes it can do so at a profit, although the clearance will reduce profit margins by 5 percentage points.
Zale operates more than 2,100 stores and kiosks under brands including Zales Jewelers, Gordon's Jewelers and Piercing Pagoda. It recently sold the Bailey, Banks & Biddle chain.
Shares fell 38 cents, or 2.3 percent, to $16.02 in morning trading. They have ranged between $12.48 and $29.61 in the past year.


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Build-A-Bear Workshop ran a pay-your-age promotion Thursday.
Things went about as poorly as you might have expected them to.
Cheektowaga Police were called to the Walden Galleria before 11 a.m. to control what was called an "unruly crowd" of about 1,300 people waiting in line for the sale, according to Chief David Zack. Another seven different law enforcement agencies were called in to assist. Zack called it a "tremendous drain on resources."
"We have officers going on calls without backup because of this. There are taxpayers who deserve a quicker response by police that they're not getting," he said. "It's a safety issue for our community and for the other stores."
Police quickly brought the situation under control, customers said, dispersing most of the crowd with $15 coupons provided by Build-A-Bear. To deal with the roughly 240 people who stuck around, cops roped off areas, made one defined line and handed out hundreds of bottles of water.
Around 11 a.m. Build-A-Bear's Missouri headquarters announced it would close all locations because of the unmanageable crowds drawn by the sale. But both the Walden Galleria and Fashion Outlets of Niagara Falls USA stores remained open.
One officer stood at the entrance to the Walden Galleria store, opening and closing the gate to let customers into the store on a one-to-one ratio as customers left. Police were letting 20 people into the store at a time, getting roughly 100 people through the store per hour.
"What was reported as a mob turned out to be a bunch of little kids looking for a bear, and we're going to make sure they get it," Zack said.
Renee Cherry of Buffalo brought her grandchildren for their first trip to Build-A-Bear, a trip that would normally cost at least $75, or "electric bill money" as she called it. It would cost just $12 during the sale. She said the $15 coupons the store gave to customers it turned away wouldn't cut it, pointing out that the fine print allows just one coupon per family to be used at a time and she has twins. But she was grateful for the police's handling of the situation.
"The police really saved them today," said Renee Cherry of Buffalo. "The mall wasn't doing anything, security wasn't doing anything. People were cutting in line, coming from all directions, pushing and shoving. No one knew where the line started or ended or where we were supposed to be going."
Erika Errico from Amherst arrived at 9 a.m. and took a spot at what she thought was the end of a very long line. Only when she neared the store did she realize that there were three lines that had formed, and all of them converged in a jumble near the store without any clear order. She ended up stepping out of line about 20 minutes after that point because she wasn't making it any closer to the store.
"The mall made an announcement over the intercom that the store was closing, but nobody heard it because everything was so loud," Errico said. "Kids were running up and down the escalators and bouncing off railings. Mall security wouldn't tell us anything, they just stood at the front and said, 'Move back, move back.' "
Zack said the promotion was "not well planned, not well thought out and certainly not well executed," and said law enforcement would be in touch with both the mall and the toy chain to address what happened. In the meantime, Build-A-Bear Workshop said it will "reach out directly" to disappointed customers as soon as possible. Walden Galleria officials did not immediately respond to questions.
The Fashion Outlets of Niagara Falls fared better, with no police response and a total of just 600 people in line at its peak. The store was running out of supplies by late afternoon, however.


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Olin Corp. Should Trade At A Premium To Its Competition
Alpha Gen Capital
Alpha Gen Capital
Mar. 27, 2015, 3:27 PM
- In a dig at Third Point's Daniel Loeb, Dow Chemical (DOW +3.2%) CEO Andrew Liveris says his company's decisive move to shift out of the commodity chemicals business shows how “Dow continues to behave as our own best activist.”
- Dow's deal to sell its chlor-alkali business to Olin (OLN +18.2%) in exchange for $2B and a 50.5% stake in the smaller company will create the world’s largest chlorine producer with 5.7B tons/year of production and $1B in EBITDA.
- Citigroup’s P.J. Juvekar offers three reasons why the deal is good for shareholders: The chlor-alkali divestiture at 8x EBITDA is a great multiple for a commodity business, the Reverse Morris Trust deal makes it tax-free and a split-off will allow Dow to buy back its own shares efficiently - a similar move by PPG Industries was viewed very positively two years ago, and Dow will sell ethylene to OLN for 20 years and will receive an upfront payment of ~$400M.
- Dow may still get rid of its agricultural chemicals business, which does not have a lot in common with the rest of the business; with $7.3B in sales and almost $1B in EBITDA last year, the unit could be worth $10B.
- Juvekar says Axiall (AXLL +5%) also could benefit from the deal, seeing consolidation in the U.S. chlor-alkali industry as a positive, and OLN says it will look to optimize its expanded chlor-alkali asset base.
Mar. 27, 2015, 7:24 AM
- Dow Chemical (NYSE:DOW) says it will split off a major part of its chlorine business and merge it with Olin Corp. (NYSE:OLN) in a deal valued at $5B.
- The new entity, which will include Dow’s U.S. Gulf Coast chlor-alkali and vinyl, global chlorinated organics and epoxy businesses, is expected to have revenue of nearly $7B.
- The move comes as Dow faces criticism of its structure from the Third Point hedge fund, which has pressured Dow to break apart its petrochemicals business from its specialty chemicals segment.
- DOW +6.1%, OLN +4.8% premarket.
Jul. 18, 2012, 8:16 AM
Olin (OLN) agrees to acquire privately-held K. A. Steel Chemicals, one of North America's largest distributors of caustic soda, for $328M in cash. Olin expects the transaction to be immediately accretive to both earnings and cash flow.| Jul. 18, 2012, 8:16 AM


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Stocks jumped into a sharp rebound Monday, as oil prices rebounded and the Dow Jones industrial average looekd to stem a four-day decline.X
The stock market heads into the final week of a November that has seen a record sell-off in oil prices, a record spike in natural gas, and a record-setting launch to the online holiday shopping season. China-based stocks showed some early strength, with JinkoSolar (JKS) leading after a strong Q3 report. Nvidia (NVDA) led rebounding chip stocks, after Credit Suisse initiated coverage with a lofty price target.
The Dow Jones industrial average jumped 1.1% at the starting bell, as Home Depot (HD) and Microsoft (MSFT) traded up nearly 2% apiece. The S&P 500 also popped 1.1%, as utility Scana (SCG) led its early advancers.
Three of the four FANG stock tech leaders moved higher. Amazon.com (AMZN) staked out an early lead, rising 1.9% in premarket trading after the holiday shopping season got off to strong start. Adobe Analytics reported Black Friday online shopping rose 23% over prior-year levels, with Cyber Monday sales forecast to post record sales of $7.8 billion — up more than 18% vs. 2017. Netflix (NFLX) lagged the group, with a 1.5% loss.
The Nasdaq Composite jumped 1.1% above fair value. U.K.-based Vodafone (VOD) topped the index.
Earnings season is winding down, not likely to have a powerful effect on Monday's stock market action. But there are a handful of weighty reports still due through the week. Early in the week, Buckle (BKE) reports after Monday's close, and Salesforce.com (CRM) after the closing bell on Tuesday.
Get exclusive IBD analysis and action news daily.
Brexit Lifts European Markets; Oil Prices Eye G20
Markets across Asia were mixed, but generally positive on Monday. The Shanghai Composite slipped 0.1%, while Hong Kong's Hang Seng index jumped 1.7%. In Japan, Tokyo's Nikkei 225 jumped 0.8%.
European stocks traded higher after European Union leaders on Sunday approved a trade deal for Britain's exit from the union. That leaves the Brexit trade deal in the hands of Britain's parliament, which is expected to vote on the issue before the end of the year. Britain is scheduled to formally exit the union on March 29. London's FTSE 100 added 0.9%, while the DAX in Frankfurt and CAC-40 in Paris climbed more than 1% each.
Oil prices bobbed higher, with West Texas Intermediate up 1.9% to $51.37 a barrel. Europe's Brent crude benchmark jumped 2.4%, to $60.21. WTI has so far dropped more than 22% for November, its worst month since the dive into the two-year oil glut in 2014. Speculators have backed out of oil ahead of the pending G20 conference in Argentina. A negative outcome to Saturday's scheduled meeting between President Trump and China's President Xi Jinping would signal ongoing struggle for China's economy, including an increase of tariffs in the following week and further weakening in crude demand. A positive outcome could signal a recovery of oil demand in China, which would put a bullish spin on oil.
Oil markets are also keenly tuned to the Organization of Petroleum Exporting Countries, which will meet with key partners led by Russia in Vienna on Dec. 6.
Natural gas prices continued their wide swings, down nearly 5% early Monday, to $4.11 per million British thermal units. Gas prices are up 32% so far in November, and trading above $4 for the first time since November 2014.
Stocks: Amazon Powers Up, Nvidia Leads Chipmakers
Amazon traded 1.8% higher, as the Black Friday holiday shopping bonanza racked up more than $6.2 billion in U.S. sales. That included more than $2 billion in smartphone sales, a new record, with more than 33% of total sales coming from mobile devices.
Amazon stock, like its FANG peers, is broken down well below key levels of support. Shares ended Friday 26% off their Oct. 1 high, and 11% below their 40-week moving average.
Nvidia punched 2.4% higher after Credit Suisse launched coverage on the stock with an outperform rating and a price target at 225 — 55% above Friday's closing price. Nvidia shares have dived 50% from an early October high.
IBD 50 stocks were active, with leadership changing several times in premarket trading. Intuit (INTU) swung nearly 1.5% higher, after RBC Capital upgraded the stock to outperform, from sector perform. The note also raised Intuit's price target to 242, from 234 — RBC's second price target hike on the stock in a week. Intuit shares are trading just below their 40-week moving average. The stock chart shows a possible double-bottom base with a potential buy point at 223.51.
South Carolina-based utility Scana (SCG) surged 4% higher. The company announced on Saturday it had settled a class action lawsuit, providing $2 billion in future rate relief to its customers and compensation payments of $115 million to plaintiffs. The move raised the stock above the top of its buy range, above a 41.94 buy point in a cup-with-handle base.
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Binance (World’s largest cryptocurrency exchange) has plans of integrating hardware wallets with its Decentralised Exchange in the coming future. The CEO of Binance, Changpeng Zhao in one of his tweets officially confirmed that the decentralised exchange would support hardware wallets right after it’s launch. Changpeng’s tweet stated ‘Binance DEX will support hardware wallets from day one of launch. So that you can be sure your private keys never leave your device.’
Even though the news was confirmed by Chengpeng, which hardware wallets will be included in this integration is still not specified. According to speculations made by a few crypto enthusiasts, hardware wallets such as Ledger, KeepKey and Trezor are most likely to be a part of this integration. A few Binance enthusiasts believe that Binanace is killing it in the space and that Binance will be the most secure crypto trading DEX.
A lot of users are unclear concerning the role of Binance Coin (BNB) (Exchange’s native token). Many users are optimistic about staking opportunity for this twelfth largest coin in the market. The announcement was made once Binance OTC (Over the counter) trading desk was launched with the special spotlight on trades in extensive volumes (Over 20 Bitcoins or $70,000.)
Earlier this month, Bittrex (The United States based cryptocurrency exchange) also launched its own OTC trading desk with a total of 200 crypto assets on the Bittrex platform. Bitfinex also launched its OCT desk in the year 2016. According to sources, Coinbase has plans of doing the same in the coming future.
Although the financial regulator in the United States – The SEC (Securities and Exchange Commission) has already warned the crypto industry essentially noting that decentralised exchanges are supposed to comply with the laws, users are still considering these exchanges as a chance to work around identification laws.
EtherDelta (an Ethereum based decentralised exchange) was charged over exchanges failure to comply the laws spelt out. As a result, Zachary Coburn paid penalties and interests worth $3,88,000 for the same.


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If your smartphone, smartwatch or other smart device just went crazy at noon, Tuesday, Dec. 22, it’s because the State of North Carolina temporarily took over your devices to make absolutely sure that you and those around you are aware that there’s a coronavirus pandemic going on.
The state is also using the electronic public alert system to encourage people to take action to mitigate the spread of the virus at what is usually the most social time of the year.
Normally, the blaring emergency warnings signal life-threatening weather or earthquakes, of – for those who choose to receive them – offer Amber Alerts that inform people how to help find missing children.
However, in 2020, the emergency alert system is being used to remind people of the same things they are reminded of 24/7 through store signage, social media, television and radio and other sources.
Normally, the electronic public safety alerts contain new information. However, on Tuesday the noon wakeup call just noted that the pandemic is ongoing.
“COVID-19 continues to be a serious threat in NC,” it read, adding reminders that people should avoid traveling over the holidays and should keep all friend and family gatherings small.
The warnings are also now doubling as app advertisements: Tuesday’s noon alert provided a link and encouraged smart phone users to download the new “SlowCOVIDNC Exposure Notification app” from the Apple App Store or the Google Play Store and enable it by turning on Bluetooth and allowing exposure notifications.
After people put the app on their phones and set it up, the app will generate an anonymous token for that electronic device. It then anonymously alerts you if you’ve come near someone who has tested positive for COVID-19 and who is using the same system.


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XBOX live gamers will be entitled to a free download of Undertow from the XBOX Live Arcade in response to the recent excessive XBOX Live downtime. The game will be available to both silver...
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Chair Entertainment Group, an independent video game production company, today announced its newest original property, Undertow, is currently in development for Xbox LIVE Arcade, the premier destination for digitally distributed, downloadable games. Expected to go...


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Sesame Workshop has partnered with The United States Olympic Committee to become an official affiliate of Team USA through the Sochi 2014 Olympic and Paralympic Winter Games.
The venture will feature inspirational and educational online content starring the Sesame Street characters and team USA athletes, a family pavilion and Sesame Street Winter Games themed apparel.
A part of all proceeds from this joint venture will support US Olympic and Paralympic athletes and hopefuls, as well as contribute to Sesame Workshop’s global initiatives that help children everywhere reach their highest potential.
The partnership was soft-launched at the Road to Sochi 100 day Countdown event in Times Square on October 29th, with appearances from popular Sesame Street characters.
Peter Zeytoonijan, USOC managing director of direct marketing consumer products and events, said: "We are thrilled to officially welcome Sesame Street into the US Olympic Family.
"Thanks to Elmo, Abby and Grover, whose special appearances at USA House during the London 2012 Olympic Games helped catalyse discussions for this partnership – now even the youngest fans will be able to show their support for Team USA through this endearing Team USA, Sesame Workshop endeavour."
Team USA and Sesame Workshop are also teaming to create youth oriented digital content heading into the Winter Games, allowing fans to see athletes with their Sesame Street friends during the team’s digital send-off.
Additionally, young fans can support Team USA by wearing their favourite furry monsters on co-branded Team USA, Sesame Street products. Toddler sizes will be available for purchase at Old Navy this autumn.


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News Corporation is to close iPad newspaper The Daily.
Rupert Murdoch today described the creation of the title, which launched less than two years ago, as a "bold experiment" but admitted News Corp "could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term".
The Daily, designed as a standalone publication for iPad, with content also available on iPhone, Android tablet and Kindle Fire, will cease publication on 15 December.
The brand will live on "in other channels", according to a statement.
The Daily was launched for US iPads in February 2011. Seven months later Bloomberg revealed the iPad newspaper was averaging 120,000 readers a week, which Murdoch has said would need 500,000 to break even.
In July the New York Observer and the New York Times reported the title had attracted just 100,000 subscribers and was losing $30 million a year.
In an effort to provide a taster of content on The Daily, the team launched a Tumblr blog to act as an entry point.
News Corp made today's announcement in a press release detailing its proposed split of News Corporation into two companies: News Corporation and Fox Group.
The statement says that Jesse Angelo, the founding editor-in-chief of The Daily and long-time executive editor of The New York Post, will move to the role of publisher of The New York Post.
"Technology and other assets from The Daily, including some staff, will be folded into The Post."
In the press release, Murdoch said: "From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation.
"Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term.
"Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties."


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Yamaha's motorcycle designers have created some musical instruments, while the instrument designers have created vehicles.
The two design divisions of Yamaha switched jobs for a very special art project showcasing their creativity and ingenuity.
Don't count the struggling smartphone maker out yet. BlackBerry CEO John Chen's housecleaning is starting to yield benefits. The next step: stabilizing its collapsing revenue.
Customers would get store credits for Apple products, while manufacturer Foxconn would resell the iPhones after fixing them up.
Apple's new smartwatch isn't out yet, but trade-in site Gazelle says it will offer to buy it from sellers and will also sell certified pre-owned models.
Trading card company Topps has a new iOS app that lets "Star Wars" fans collect and trade digital trading cards of their favorite characters with anyone in the world.
Blizzard will introduce tokens to World of Warcraft that players can use to buy in-game gold with real money, and game time with in-game gold.
CNET's Marguerite Reardon takes a look at T-Mobile's new plan to entice wireless customers to jump ship from their existing carriers.
Good until March 8, the deal lets you trade in an older Surface tablet toward the purchase of a new Surface Pro 3.
The rules will require tech companies to hand over source code, submit to audits and build deliberate back doors into both hardware and software products.


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In a bustling M&A market, restaurants are gobbling up category competitors, while private-equity players are placing their bets.
How operators are leveraging new flavor ideas with savory baked goods to boost business across the dayparts.
The New York City-based fast casual launched an international franchise program.
This growing Boston concept puts its own spin on Asian cuisine—but it hasn’t forgotten its food-truck roots.
All of the numbers and insights you need to know about the best drive-thru operations in the U.S.
This year, QSR released its first-ever
Denver-based Smiling Moose Rocky Mountain Deli is celebrating its newest location in Grand Forks,
Jimboy’s Tacos, Home of the Original American Taco, will donate 20 percent of all sales on Tuesda
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CANADA: Reliable Hosiery commits to African cotton
Reliable Hosiery is the first Canadian company to join the Cotton made in Africa (CmiA) network, in a move that expands the scheme internationally and should help lift demand for sustainably produced African cotton.
The Canadian hosiery manufacturer signed a contract last week with supporting organisation the Aid by Trade Foundation. It plans to offer a Cotton made in Africa collection, and will have exclusivity in Canada for the hosiery products.
Unusually for a North American garment firm, Reliable Hosiery's entire production line is still located in Montreal. "Taking responsibility is important to us," explains president and owner Hermann Gruenwald.
The initiative works with smallholder farmers in Sub-Saharan Africa to provide a source of cotton that is both environmentally and socially friendly - and ultimately helps improve the living conditions of some 240,000 farmers in Benin, Burkina Faso, Zambia, Malawi and Ivory Coast.
Cotton made in Africa provides participating smallholder farmers with cultivation methods that both conserve the environment and raise crop yields, while providing training and education for adults and children.
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Digital will be the new normal for business, experts say
- Dawn Milne
- Apr 23, 2020
The COVID-19 crisis is triggering a worldwide digital transformation and experts say there is no going back.
“Many businesses have demonstrated in six weeks the amount of agility they have,” said Robert Webb, a global technology executive and executive coach with The Ivey Academy. “If they see they can change that quickly based on this crisis, I think it will be hard to not reap those benefits.”
Webb, along with Warren Ritchie, a corporate transformation expert who leads the Strategy Services Practice at CGS Advisors, participated in an Ivey Academy webinar called Accelerating Digital Transformation, which looked at how companies can prepare for the transition to digital. Here are some key takeaways.
Warren Ritchie – Digital transformation goes beyond business continuity
Although many companies are operating remotely during the crisis for the sake of business continuity, Ritchie said that’s just the first step in a larger transition. As they see how consumers adapt to the changes, it will take away some of the uncertainty around digitizing and they’ll start to look more closely at how they can adapt their business models and underlying processes.
“Some businesses are saying they have the capability (to go digital), but they’ve delayed making the investment into it because they weren’t really sure of the ROI, and what they now might be finding is the core business is suffering ... Now is the time to ask, Would we be a better business if we were more digital?,” he said. “Ten-year plans, while the right plans, need to be done in two to three years. We have to advance and not be as patient as we once were.”
Even when companies can’t digitize their products or services, he said they might be able to digitize interactions with the user or consumer.
“There are ways to look at how the products or services are acquired or consumed and the pattern of usage,” he said. "We need to be able to adapt and dig deeper into other ways to interact with customers.”
Robert Webb – Now is the time to experiment
Embracing the use of technology requires companies to adopt a new set of behaviours. Instead of flawless planning, companies will need to test, learn, and experiment with an increased focus on the needs of customers and employees.
“We have to be ambidextrous. We have to be able to move very rapidly and trust people to make short-term decisions that are going to take care of customers and employees,” he said. “There are no silver bullets in this pandemic and there are no silver bullets for digital transformation.”
While acknowledging that not every business is prepared for the digital world, Webb and Ritchie said there are ways to assess if you’re ready.
Three signals your business is ready to go digital:
- You have cross-functional teams;
- You are looking at data architecture and data models; and,
- You have an agile way of working and communicating and your decision-making is decentralized.


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Other services include current franchise news and related articles, along with a franchise directory listing over 2,000 franchise opportunities - both international and domestic. Visitors will also find finance lending programs, industry suppliers, franchise book resource section, and franchise consultants and experts by state to assist you.
GoFranchise.com was established by one of the acclaimed founders of the national radio show “Franchise Interviews” and is geared to franchise suppliers, franchisors, franchisees, area developers, consultants and entrepreneurs looking for franchise business information and opportunities. “We feel the website fills an important need in the franchising industry,” said Don Johnson, Founder and President of the website. Johnson also says “the industry needed a one-stop shopping (and everything franchise) type of website as well as a global component.” GoFranchise.com helps visitors with their search without having to spend hours upon hours researching all facets of the industry on numerous sites.
For the most up-do-date and current franchising news, visit GoFranchise.com. For more information, contact Don Johnson directly at info@GoFranchise.com or call 888-875-6228.


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Glenster’s Social Media Best Practices
Gleanster announced the publication of a benchmark report that reports the best practices in social media marketing. The report is called the ‘Social Media Marketing’ and is 21 pages long. It includes a vendor landscape section with analyst commentary about most of the related technology solution providers as well as a large number of social media agencies. It is based on the experiences of many companies and can be downloaded for free from the Gleanster website.
Kevin S. Ryan, principal analyst at Gleanster and former vice president of social media at Barnes & Noble says
Some brands have found that they can drive sales by coddling bloggers or by directing special codes or promotions to customers who follow them on Twitter”, adding that “Yet, despite the flurry of activity, social media marketing remains experimental in nature, and marketers are making up the rules as they go.
Social media marketing is on a rapid growth trajectory, with the visible growth of social networks like Facebook, and the increasing amount of attention paid to Twitter and YouTube. Big brands are trying to gain footholds on Facebook, to lure the number of members there, and find new ways to communicate with its users.
However, the brands have not yet been able to determine the value of a Facebook fan, and there continues to be no consistent barometer of success. This lack of data is resulting in companies being unable to determine how much social media marketing is right for them or measure their impact on their businesses.


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DUBIOUS DEDUCTIONS. Recent reports: Some defense contractors have been charging the government for such things as dinner parties, country-club fees and golf shirts. Reaction: A new bill in the Senate would ban any tax deduction for advertising, entertainment or other promotional expenses connected with weapons sales. Among the sponsors: Sen. William Proxmire, D- Wis., who cited auditors' estimates that such expenses cost taxpayers up to $500 million a year. Proxmire said the real purpose of such promotion "is to get the company's name before the public, generate name recognition and thereby promote the firm's other products or services."
Compiled by Deanne BrandonTHE ORLANDO SENTINEL
Copyright © 2019, Orlando Sentinel


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The Covid-19 pandemic has not been a disruptor for Uber Freight.
Thanks to the digital brokerage’s cloud-based set-up, switching from office to home-based work has not impacted operations, according to Bill Driegert, co-founder and head of global operations.
“I think we have weathered the storm fairly well,” he said. “Overall freight is up. We’ve seen continued growth in our volumes.”
The turbulence in the wake of the lockdown has actually boosted demand for ...
The post Uber Freight looks to accelerate automation as it weathers the pandemic appeared first on The Loadstar.


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Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
In late-breaking news, two Wall Street analysts initiated coverage on Tesla (TSLA 0.73%) stock last night. Only one of these analysts (Wedbush) likes the stock. (The other, Deutsche Bank, thinks Tesla is only fairly priced.) And yet at the same time, a couple of new developments on the business front could help swing ever more analysts toward joining Team Tesla.
Here's what you need to know.
What Deutsch Bank said
Let's begin with the less enthusiastic analyst. Initiating coverage of Tesla stock with a hold rating, Deutsche Bank opined yesterday that it sees Tesla as fairly valued at $375 a share. (Tesla closed just shy of $377 a share yesterday.)
Tesla's Q3 2018 earnings report, says Deutsche, showed a "large improvement in manufacturing execution and profitability," with the company returning to profitability for the first time in two years (according to data from S&P Global Market Intelligence).
Tesla's sales surged 129% year over year in Q3, generating a GAAP profit of $311.5 million and positive free cash flow of $831.5 million. (This was, not coincidentally, also the first free-cash-flow positive quarter for the company in two years.) And Deutsche sees no sign of Tesla slowing down. "[M]ajor manufacturing bottlenecks appear to be resolved," writes Deutsche in a note covered by TheFly.com, "and demand has shown little evidence of trailing off." For the next couple of years at least, until major automotive rivals begin producing their own electric cars in large numbers, Deutsche sees Tesla operating in a "league of its own."
What Wedbush said
Regardless, Tesla remains unprofitable on a trailing-12-month basis, and shares sell for more than 57 times forward earnings -- a big premium to the six times forward earnings GM stock fetches, for example, or the 6.4 times forward earnings that Ford shares cost. Tesla the company may be doing well, but Tesla the stock appears no better than fairly priced for its performance, in Deutsche's estimation.
Wedbush begs to differ. In an initiation that came out within minutes of Deutsche's, investment banker Wedbush asserts Tesla is actually positioned to outperform other automotive stocks. Far from fearing the arrival of new models from automotive majors, Wedbush argues that Tesla boasts the "most impressive product roadmap out of any technology/auto vendor around." Moreover, while the company's rivals are busy getting their e-fleets up to speed, Wedbush thinks Tesla can run away with the electric car market, and has a "golden opportunity" to ramp Model 3 sales in 2019 in particular.
Wedbush's conclusion: Not only is Tesla's share price reasonable today, but the stock could shoot as high as $440 by the end of next year.
Wall Street warms to Tesla
Nor is Wedbush the only automotive analyst warming up to the Tesla story. Earlier in the day, analysts at R.W. Baird upped their price target on the company's shares to $465. As Baird explained, the "narrative" surrounding Tesla stock on Wall Street is shifting from believing that "Tesla will never make money" to an increased faith that "Tesla can be sustainably profitable."
This is a trend that Baird believes "will continue to improve as the company proves it can be self-supportive," and a couple of new developments promise to give this story a tailwind.
Yesterday, Electrek reported that with the automaker's objective of producing 5,000 cars a week now accomplished, Tesla is planning to begin shipping as many as 3,000 Model 3 electric sedans a week to Europe -- beginning as early as February. Combined with the 4,000 Model 3s-a-week demand Electrek sees in North America, this works out to about a 40% increase in the company's production rate.
Forty percent -- or more. Because at the same time as Tesla is satiating U.S. electric car demand and heightening the challenge to European automakers on their own turf, Reuters reports that a reduction in China's car tariffs is permitting the company to slash sticker prices on cars shipped there. Model S prices are expected to fall by $15,200, and Model X prices by $9,400, which should logically translate into stronger Chinese demand for both of these models as well.
China's expected to tear down its tariff wall on foreign imports on Jan. 1, 2019, so we should begin to see stronger Chinese sales as early as Q1 of next year.
The upshot for investors
With no P/E ratio and negative free cash flow over the past 12 months, the jury's still out on whether Tesla's Q3 2018 performance will be as short-lived as the company's turn to profitability in Q3 2016 was. If Tesla fails to repeat Q3's success in Q4, the stock will look as expensive as it ever has -- and Wall Street's enthusiasm could quickly fade, no matter how strong the prospects look in the first quarter of 2019.
On the other hand, though, indications of big increases in electric car production for markets in North America and Europe and China suggest that's not the way this story is heading right now. Tesla's got momentum, Wall Street has taken notice, and investors need to be alert to the possibility: The Tesla story may have permanently changed for the better.


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Central Group, Thailand leading retail group, JD.com, China's largest retailer and leading Chinese fintech company JD Finance, today announced an aggregate investment of up to $500 million to establish two joint ventures in Thailand covering e-commerce and fintech services, respectively.
Under the terms of the agreement, half of the investment will come from Central Group, with the remainder coming from Under the terms of the agreement, half of the investment will come from Central Group, with the remainder coming from JD.com, JD Finance and Provident Capital, which is also JD.com’s strategic partner for its Indonesian e-commerce business.
Across both the ecommerce and the fintech business, Central Group will leverage its extensive retail resources, including its physical store network, which will serve as key omni-channel and payment locations, its brand and merchant relationships, as well as its retail behavior insights from its popular customer loyalty program, “The 1 Card” . To strengthen the product offering,and to accelerate its own omni-channel business growth,Central Group will open multiple flagships stores of its omnichannel businesses on the new joint e-commerce platform.
On the other side, On the other side, JD.com will provide its extensive expertise in technology, e-commerce and logistics to the e-commerce joint venture. Meanwhile, thefintech services joint venture will benefit from JD Finance’s deep knowledge in the financial technology sector, including its experience building out easy-to-use fintech services in developing markets using its artificial intelligence, cloud computing and other industry-leading technology capabilities.
“JD’s proven track record of successfully building out national online retail businesses made it the obvious choice for our e-commerce partner,” said Tos Chirathivat, Chief Executive Officer of Central Group.
“Thailand’s mobile-driven population, with its increasing consumer spending power, makes e-commerce is ready to explode, and this partnership is poised to better serve the country’s consumers as they migrate online. This move marks a key step in Central Group’s journey to become Thailand’s online retail leader.”
“Thailand’s large population and developed infrastructure, including strong national logistics networks, give it tremendous potential for both e-commerce and fintech services,” said Richard Liu, JD.com’s Chairman and CEO. “Working with Central Group, Thailand’s strongest retail group, with a massive shopping mall and department store network, gives us a huge competitive advantage as we expand further into Southeast Asia.”


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For the first time in half a decade, the U.S. tech industry in 2009 slashed large numbers of skilled workers from its payrolls. The findings, disclosed in a technology trade group’s annual analysis of employment and wage trends in the industry, could slow an overall improvement in the U.S. economy, the group concluded.
Technology companies eliminated 245,600 jobs in 2009, or 4% of the industry’s 5.9 million U.S. workers, according to the latest Cyberstates report released Apr. 28 by TechAmerica, a industry group representing 1,500 companies in electronics, software, and telecommunications. It was the first time the technology industry eliminated jobs since 2004.
Technology manufacturing companies shed the most jobs—112,600—in 2009. Engineering and tech services and the communications field each shed a net 59,000 jobs. Software services firms eliminated 20,700 jobs.
Read More: – By Cliff Edwards, Businessweek


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Prices of essentials, vegetables spiralling
Nellore: The prices of essential commodities and vegetables were skyrocketing due to ongoing agitations in...
Nellore: The prices of essential commodities and vegetables were skyrocketing due to ongoing agitations in the Rayalaseema region. The common man was the most affected as they are unable to pay exorbitant prices. With Ramzan and Sravana masam, the prices of pulses and onions are spiralling.
The traders are hiking the prices as per their wish stating that the supporters of unified State are disrupting the transportation of the perishable and essential commodities. Hence, the shortage. Adding insult to injury, with the participation of employees there was nobody to control the black market.
Onions were being brought from Maharashtra, Karnataka and Telangana, but the traders were creating an artificial shortage and indulging in black marketing. Normally, the prices of essentials and vegetables will come down during July, August and September, but now the scenario was different due to Samaikyandhra agitations.
The people cried foul and demanded the intervention of the district administration and ensure that traders would not further increase the prices during September and October. The officials should wake up from slumber and carry out raids on godowns in order to curb the prices.


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SThe Tock markets have been dreading a series of warning signals in major economies. At least this week there was a reversal of the US bond yield curve and news of a decline in the German economy. Here is a guide to trouble spots in the global economy that investors are dealing with.
The US is at the center of global stock market sales. Investors overlook that the International Monetary Fund expects the G7 economies to show the fastest growth of 2.6% this year, and this has not done a lower unemployment since Neil Armstrong hit the moon in 1969. Instead, Wall Street fears that higher US Federal Reserve rates, the waning effects of tax cuts and the trade war with China are driving the economy into recession.
The United Kingdom
The inclusion of the UK in the list of problem countries can be limited to one word: Brexit. The economy contracted by 0.2% in the second quarter as inventories accumulated ahead of the original EU departure date of 29 March. Strong employment growth and rising real wages may be enough to stimulate growth in the third quarter, but a disinterested Brext on 31 October could have a significant impact on Britain, the EU and the rest of the world.
Europe's most prolific exporter has noted that demand for machine tools, trucks and cars has declined sharply over the past year, especially from China. The slump in exports led to GDP declining by 0.1% in the second quarter. Business confidence dropped so dramatically that it reached its lowest level since the 2008 financial crash last month. Even so, after a decade of budget surpluses, the government has a lot of money and companies are not heavily in debt. So you have the power to survive storms.
Officially, China is growing at more than 6% a year, but the reality is worse than the headlines suggest. The country's president, Xi Jinping, is trying to change China to slower but higher growth. This process is hampered by the fragility of Chinese companies and banks for tighter credit conditions and the impact of Donald Trump's tariffs, which lead to a weakening of factory production and a slowdown in exports. China announced this week that industrial output reached a 17-year low in July.
The Brazilian domestic economy looks quite robust, but this has not prevented stocks and currency from coming under strong pressure. The largest economy in Latin America is hampered by problems in other parts of the world: its close neighbor Argentina is in financial collapse, slower growth in China means a decline in demand for Brazil's abundant natural resources, and there is concern that exports to the country are also in decline US will be stifled by a slowdown in the world's largest economy.
The return of Cristina Fernández de Kirchner, the controversial former left-wing president of Argentina, to political significance has put investors on the run. In a pre-election poll, she and her colleague, populist candidate Alberto Fernández, were on the right path to beat incumbent President Mauricio Macri, struggling to put the country's finances in order. The government has recently borrowed heavily and wasted most of its money on vanity projects and subsidies to important constituencies. Fernández and Kirchner are not questioned by the investors. There is already a sales signal for the country based on the assumption that the country will be in arrears in the event of a takeover.
A recovery in 2017 turned out to be brief when Rome argued with Brussels for its state budget and corporate confidence. The threats of leaving the euro and possibly the European Union as a whole may have disappeared from the rhetoric of Matteo Salvini, leader of the League Party, but corporate confidence remains. A banking sector burdened with bad debts and a corporate sector that is competing and losing with Chinese competitors are likely to cause a period of decline.
Singapore's economy is expected to fall into recession in the third quarter of 2019. It is due to the US-China trade war that continues to shake the Southeast Asian nation after confirming second-quarter growth this week. 3.3%. The city-state of 5.5 million people is a financial center that stores hundreds of billions of dollars in foreign savings. It was therefore a shock to investors that the decline in sales of manufactured goods to China could easily come to a standstill. A decline in Chinese tourists also hit the wholesale and retail trade.


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Tesco has bought a 91 per cent stake in the music streaming service We7, paying out £10.8m for the business. Founded in 2007 as a download site, We7 went down the Spotify-style streaming route in 2008,...
Twenty-year-old cyber security researcher apprehended on suspicion of involvement
MPs question legal basis for facial recognition trials conducted by police forces
Neither Apple nor Microsoft have yet issued a fix
Trump could stop JEDI cloud contract over competition concerns as bidding comes down Microsoft versus Amazon


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Luciano Cigars (formerly ACE Prime) announced today that they are launching their US distribution from their West Palm Beach, FL warehouse. The company has also recently expanded executive and sales teams.
In September Luciano Cigars announced that it would be rebranding from Ace Prime to Luciano cigars. This followed the news of a split from their partnership with Crowned Heads who had distributed their cigars until that point. This rebranding also included the factory name change from Tabacalera Pichardo to Luciano Cigar Factory.
It’s not only a rebranding, but a new era in our company. We are expanding our farming, tobacco processing and manufacturing facilities. I am humbled and grateful to have an incredible ‘Dream Team’ in place to distribute across the US with in-house reps and broker partnerships.
Luciano Meirellles, President & CEO
As an athlete I have always known that dedication, hard work and talent is the recipe for success. What we are experiencing today is just a consequence of these three exponentiated elements. I can say from the depths of my soul that today is a remarkable day for me and for our company.
Tiago Splitter, Co-Founder & Vice President
The company says that all retailers that have previously carried Luciano Cigars distributed by Crowned Heads now be serviced directly by Luciano Cigars. Sales representatives will be reaching out to these retailers over the coming days. The company will be hosting a series of zoom calls with our retailer partners where Luciano Meirelles, Peter Gross, COO and Ed Trevino, Director of Sales, to respond to any questions.
International distribution of Luciano cigars will remain unchanged. They have distributed cigars globally since 2019 and will continue to do so in Germany, France, Belgium, Hong Kong, Luxembourg, Bahrain and the UAE. Luciano cigars plans to expand further in the beginning of 2023 into Italy, the UK, Spain, Portugal, Canada, Brazil, and Mexico.
The company also mentioned in a press release that the Pichardo Clásico and Pichardo Reserva Familiar lines will soon be rebranded. The company has been moving away from the Pichardo name in recent history with the rebranding of the factory and now those lines.
New Team Members
The Luciano Cigars team has added the following members to its operation:
Peter Gross, Chief Operating Officer
Peter has worked as a top executive in blue chip multinational companies for more than a decade, being responsible for strategic global partnerships, especially across emerging markets. A graduate of Oxford University and Emory University, he is also a co-founder of ATL Cigar Company and will now be directing the overall operation of Luciano Cigars.
Rebecca Meirelles, Chief Marketing Officer
Rebecca brings extensive experience in brand management and social media. A Brazilian national and upcoming Political Sciences graduate, Rebecca speaks French, Spanish and Portuguese and will be managing the company’s national and international marketing efforts.
Ed Trevino, Director of Sales
Ed has been in the cigar industry for over 28 years, Treviño is a respected industry veteran. His experience in sales branches from small family-run boutique companies to large, industry-leading brands.
Kristen Dounoulis, Distribution Manager
Kristen brings 15 years of operational experience, managing inventory and distribution across multiple countries in the premium tobacco and fine jewelry industries. Kristen will manage all warehouse and fulfillment activities.
ATL Cigar Company
Luciano Cigars is also adding ATL Cigar Company, a boutique brand operating from Atlanta, GA, to its portfolio. They will distribute all ATL Cigar lines as well as take over manufacturing. The brand will be owned and managed separately under the Luciano Cigars umbrella. Luciano Cigars factory will begin manufacturing all ATL Cigar Co lines immediately, in anticipation of a full release of cigar lines at TPE 2023.
Launch Cigars Availability
The company’s initial in-house cigar line-up will include the following owned brands with more brands and vitolas to be announced in the coming weeks:
Luciano The Dreamer (4 current sizes)
Fiat Lux (4 current sizes)
Maria Lucia (2022 PCA Exclusive to be carried as a core line in different sizes soon).
Pichardo Clásico (all 3 blends) *To be rebranded soon


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- Home » Expat News » Consumer watchdog Which takes on airlines not paying refunds
Consumer Watchdog Which Takes On Airlines Not Paying Refunds
|Published:||20 Jul at 6 PM|
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Consumer watchdog Which is now supporting expats and tourists whose flights to Spain were cancelled due to the coronavirus.
The consumers’ group is now demanding airlines which cancelled flights in the early days of the pandemic should stop prevaricating and speed up refunds to those who missed out on holidays or flights to and from Spain. According to a Which spokesperson, expats are suffering emotional distress as well as financial losses due to the carriers’ reluctance to refund those affected. In support of its accusations, Which has opened up a dossier of over 14,000 complaints concerning refunds and presented it to the UK’s Civil Aviation Authority as a part of an ongoing review on how airlines have mis-treated their customers over the past several months.
Collectively, the refunds themselves total over 5.6 million sterling, with the report detailing how badly their lack is affecting lives during this difficult time. According to British law, those unable to fly due to cancellations by a UK or EU-registered airline must be compensated by a full refund within seven days of the cancellation. Many major carriers are openly breaking the law by denying their customers their legal rights. Some 14,000 complaints have already been submitted by Which, with 12,600 already having been analysed in order to establish data trends.
Of those who reported to the consumer champion that they’d not been able to get a refund as yet, the average out-of-pocket expense averages £446, with those owed spending hours attempting to get their refunds according to the law. Ryanair seems to be the worst offender, with four out of every 10 complaints, with EasyJet coming in a close second with 14 per cent of disgruntled customers. Virgin Atlantic also came in for criticism, with claimants taking between five and ten hours attempting to get their money back with no success.
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Written by Mark Gorman
Apple Inc.’s iPhone sales rebounded. last quarter, helping the world’s most valuable company achieve top earnings estimates and weather an industry-wide downturn that hurt much of its product portfolio.
Apple said Thursday that revenue totaled $94.8 billion in its fiscal second quarter, exceeding the $92.6 billion expected by analysts. Although sales fell 2.5% in the period, the company has warned investors to expect a drop of nearly twice that.
The results indicate that Apple is starting to recover from the slump that hit both the computer and smartphone industries. It’s a particular relief for investors after Qualcomm Inc, a major supplier, raised new concerns about phone demand earlier this week. Apple’s sales in China — a weakness for other tech companies — came in slightly better than expected.
As expected, Apple announced plans to buy back shares worth $90 billion — the same plan as last year. The company also raised its quarterly dividend by 4%, to 24 cents a share.
Shares rose 2% in late trade after the report was released. It closed at $165.79, up 28% for the year.
Although it performed better than expected, it posted two consecutive quarters of sales declines — the first for Apple since the pandemic began. Earnings, meanwhile, were unchanged from a year earlier at $1.52 per share. That compared to an average estimate of $1.43 per share.
In a conference call with analysts, Apple said that revenue in the current period will decline by a similar amount as in the previous quarter, which ended on April 1. This indicates a decrease of about 3%. The company also said that it will continue to see a negative impact from foreign exchange rates.
Apple generated $51.3 billion in sales of the iPhone — its flagship product — in the second quarter, beating analysts’ expectations of $49 billion. Chief Executive Officer Tim Cook said that was only up 1.5% from a year ago but represented record performance for the March quarter. In the statement, he said the increase came “despite a difficult macroeconomic environment.”
Like many tech CEOs who report earnings, Cook also discussed artificial intelligence. He said it has huge potential and that Apple will continue to weave it into products in a “very thoughtful” way.
From a supply perspective, the second quarter was an opportunity for iPhone 14 to bounce back. The device suffered from limitations during the previous period due to Covid policies in China.
iPad saw revenue drop 13% to $6.67 billion, roughly in line with estimates of $6.7 billion. The new models, which included a new entry-level version and Pro models with the M2 chipset, did little to spur buying in the quarter.
Similarly, revenue in the Mac division fell 31% to $7.17 billion. This followed expectations of $7.7 billion. Research firms have already warned that this was a bleak quarter for the group, with IDC estimating that Mac shipments fell about 40% in the quarter. Apple updated the MacBook Pro and Mac mini, adding faster processors, but failed to reignite unit sales.
The Home Appliances, Wearables & Accessories division, which includes AirPods, Apple Watch and set-top box – fell less than 1% to $8.76 billion. This exceeded estimates of $8.5 billion. The company added a faster processor to the Apple TV during the quarter, and updated the HomePod speaker during the March quarter.
The services business, which includes iCloud, Apple Music, the App Store and TV + Streaming, earned $20.91 billion, missing estimates of $21.1 billion. However, it was a 5.5% gain over the previous year. In the most recent quarter, Apple promised to accelerate — along with the iPhone — services revenue.
The company did particularly well in emerging markets, Cook said, pointing to record quarterly sales in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey and the United Arab Emirates. He said the company’s overall sales would have risen if it had kept the currencies steady.
For Apple and other US companies with a global footprint, the strong dollar has depressed the value of revenue generated in other parts of the world.
“Despite these challenges, we continue to manage for the long term,” Cook said.


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Gaming in Holland will be giving away two tickets to an exclusive show by Dutch DJ phenomenon Hardwell at ICE 2018:
Dutch DJ Hardwell and StakeLogic – a wholly-owned subsidiary of Greentube and part of NOVOMATIC Interactive – will launch a DJ-themed online slot game at ICE Totally Gaming 2018.
World-famous DJ Hardwell, who was voted the world’s no. 1 DJ in 2013 and 2014, was born in Breda as Robbert van de Corput and has over the years built an outstanding reputation as a DJ, remixer, producer and record label owner.
To celebrate the launch of this new branded game, Hardwell has agreed to make an appearance on the interactive area of the NOVOMATIC Stand S5/S6 at ICE Totally Gaming 2018 in London.
On February 7, Hardwell will also showcase his talents to a selected number of ICE attendees at an invite-only party.
Gaming in Holland will be giving away a two tickets to this highly-anticipated launch party.
If you are a gaming professional who would like to attend this exclusive event, please let us know by sending an email to: firstname.lastname@example.org.
We will notify the lucky winners as soon as possible!
On February 21, Dutch trade association VAN Kansspelen, in cooperation with the Netherlands Gaming Authority, will hold a meeting to discuss the Public Administration (Probity Screening) Act (Wet Bibob), with a particular focus on the Act’s impact on license applications from (prospective) land-based slot machine operators.
Further details regarding the meeting are available here.
Despite efforts by regulators to clamp down on the activity, Swedish media outlets have increased their revenues from unauthorized online gambling advertising in 2017 compared to the previous year.
Unibet has opted to renew its partnership with Danish Superliga football club FC Copenhagen.
The Stars Group has appointed former William Hill Online chief Andrew Lee as MD of its BetStars sportsbook arm.


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T-Mobile says 5% of customers affected by outage
T-Mobile customers across the country have been complaining about having the signal indicator on their phone go from 3G to SOS. Reports have been circulating about it being a local tower issue to being as big as a global outage. On T-Mobile's own web site, a message claims that only 5% of T-Mobile customers are being affected by the service disruptions that the carrier says started at 5:30pm EST. The nation's 4th largest carrier says its' Rapid Response team is hard at work to resolve the issues. If you're a T-Mobile customer, let us know if you lost your service and if you have it back yet.


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Recently we reported that Google might be planning to release the official name of Android O on 21st August and also the rumors suggested that Android O will officially be called as Android Oreo. It turns out that all the rumors were true as Google just announced the 8th version of Android which will be called as Android Oreo.
— Android (@Android) August 21, 2017
The company has a long history of naming Android versions after sweets or sweet foods and have continued their legacy with the latest version of Android. You can head below to check out the official reveal of Android O.
Also below is the official video reveal of Android Oreo which talks about better security, more power and smarter than the older versions. Check out the video of the same below.
Along with the name, Google also announced that Android Oreo is available today via Google’s Android Open Source Project. OTA rollout is expected to arrive first to Pixel and Nexus devices, with builds currently in carrier testing. We still don’t have details of the official rollout of the Oreo update for other devices but we will update as soon as we get details on the same. For now, head to the comments section below to let us know your thoughts on the latest version of Android and as usual stay tuned for more news.
Pic Credits: Ars Technica


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Mark Bridge writes:
On Friday morning, Nokia is hosting a Strategy and Financial Briefing in London. And on Sunday evening, it’s holding a press briefing in Barcelona. CEO Stephen Elop is expected to make some significant changes to the company - but what will he say?
This week's podcast sets the scene for Mobile World Congress, with mobile payments, mobile applications, the PlayStation Phone and Nokia's future all up for discussion. There's also an interview with Dr Windsor Holden of Juniper Research about the trends and products to watch for when the industry heads to Barcelona.
New EU roaming regulation isn’t having much effect on the mobile usage habits of British consumers when they’re abroad, according to new research conducted on behalf of mobile roaming company MACH.
Over half of mobile users said they were aware of the rules regarding roaming, yet three-quarters of these said the rules made no difference to how they used their mobile phone when travelling abroad.
Nokia Siemens Networks has announced a 'Smart WLAN Connectivity Solution' that allows mobile networks to offload their traffic to WiFi without any break in service.
It removes any need to manually switch between WiFi and cellular broadband on mobile devices, helping mobile operators maintain network capacity.
It’s been a week of UK investments and acquisitions. First Volantis, then Saffron Digital - and now SurfKitchen.
The Reading-based mobile internet usability experts have been acquired by Teleca, a Swedish company that offers a wide range of mobile solutions and services. SurfKitchen will remain as an independent business unit within Teleca.


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In 2014, Amazon expanded its lobbying practices as it prepared to lobby the Federal Aviation Administration to approve its drone delivery program, hiring the Akin Gump Strauss Hauer & Feld lobbying firm in June. Amazon and its lobbyists have visited with Federal Aviation Administration officials and aviation committees in Washington, D.C. to explain its plans to deliver packages.
Though more people shopped in-store and online on Black Friday 2017, Cyber Monday continues to beat Black Friday’s online sales. Last year, 81 million consumers shopped on Cyber Monday, bringing in $6.59 billion for retailers. 2017 marked a year-over-year increase of nearly 17 percent and set an all-time record of the most ever spent on the digital holiday.
Amazon has attracted widespread criticism for poor working conditions by both current employees, who refer to themselves as Amazonians, and former employees, as well as the media and politicians. In 2011, it was publicized that at the Breinigsville, Pennsylvania warehouse, workers had to carry out work in 100 °F (38 °C) heat, resulting in employees becoming extremely uncomfortable and suffering from dehydration and collapse. Loading-bay doors were not opened to allow in fresh air, due to the company's concerns over theft. Amazon's initial response was to pay for an ambulance to sit outside on call to cart away overheated employees. The company eventually installed air conditioning at the warehouse.
This service isn't just for packaged goods, either. Many stores offer shoppers the opportunity to order fresh produce, meats, dairy, and other groceries online and get these items delivered directly to their homes. In addition, many products that aren't necessarily found easily in stores can be found online — sometimes for a much cheaper price. You might even be able to take advantage of online rewards or cash-back offers, too.
The As Seen on TV logo is an unprotected image which can be used on any product. As such, you will get the most benefit from your product if you do your homework and check the reviews for the product before making a purchase. Going through the As Seen on TV Store on our website is a good way to make sure that you are examining only those products that have met the preferred quality standards.
"Search Inside the Book" is a feature which allows customers to search for keywords in the full text of many books in the catalog. The feature started with 120,000 titles (or 33 million pages of text) on October 23, 2003. There are about 300,000 books in the program. Amazon has cooperated with around 130 publishers to allow users to perform these searches.
Yet despite having a hand in so many different industries, consumers largely trust Amazon with everything from their personal information and buying habits to the literal conversations they have in their own homes. According to a study The Verge conducted in partnership with consulting firm Reticle Research last year, Amazon is the most-liked and trusted technology brand by a wide margin. One likely explanation there is that the company has a strong relationship with its customers, thanks in part to its zealous commitment to low prices and a seemingly never-ending quest to make modern life more convenient.
World-famous action movie and television star Chuck Norris has stood behind the Total Gym exercise machine for more than 30 years. The Total Gym provides a complete exercise experience in one simple product. Because the product is able to fold out to become different machines, this gym allows a person to stay in peak physical condition without wasting a lot of money. Norris himself is world famous for his physique and has used the Total Gym for decades to maintain that condition.


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UPDATE: HERE'S HOW TO FIGHT FOR A REFUND
- Call the 800-number next to the charge on your bank or credit card statement and tell them to cancel your subscription
- Be wary of offers of a partial refund; accepting some money from the company may hurt your chances of a full refund
- File a fraud dispute with your bank or credit card company. Make sure it's in writing or email, so you have documentation
- Remind them of the federal negative option law, which states that companies must make terms and conditions clear
- File complaints with the BBB, the FTC, and your state attorney general's office. All can be submitted online
NORTH TEXAS (CBSDFW.COM) - When Susan Sinclair saw a Facebook ad for a new wrinkle cream, she decided to give it a try. "It was $4.95 for a one-month free trial," said Sinclair.
The cream was shipped to her home within a few days. The next month, two more bottles arrived in the mail, then two more. Sinclair asked her husband to check their bank statements. There were three monthly charges of $89.95 and $99.95 -- almost $600 in all. "Then I knew I must've been put on some kind of refill thing," said Sinclair, adding, "It's big-time pickpocketing!"
Kathy Hughes had a similar experience. "A sample for $3.95," said Hughes, "That's not a bad deal, I could afford that." Two weeks later, she was billed $99.95. The charge left her account overdrawn, so she was hit with an additional fee from her bank. When Hughes called the wrinkle cream company to complain, "He said 'yes ma'am, when you order the sample you give us the right to keep sending it to you.' And I said 'no, no I did not.'"
The cream is free, but only for 14 days. Once the trial period is over, the customer is automatically enrolled in an auto-ship program and is charged a monthly fee for the cream. It's called negative option billing.
"Negative option in and of itself is not illegal, if it's clear and conspicuous," said Adam Price, Regional Director for the Better Business Bureau of Central Texas. "It has to say, by pushing this button you agree to a trial run, and at the end you'll be charged full price."
Federal law requires companies to make those terms and conditions clear to customers. "And that's where folks get frustrated because they see new bills pop up, or new material is shipped to their house and they think 'I didn't sign up for this," said Price, "when in reality they did, but they just didn't know it."
Blogger Rachel Vrabel has been tracking the beauty cream complaints for at least a year. Vrabel, who runs WomensBlogTalk.com, says she gets 12 to 15 emails a day from customers looking for help to fight unexpected charges. "They just lure these people in to accept their free trial," said Vrabel, "and it's really not free at all."
Vrabel has compiled a list of 250 to 300 phone numbers associated with these beauty creams, so customers can call and try to cancel. She says finding out who runs each website can be a virtual black hole. "They keep flipping links, changing website domains, changing offers so that's very hard to keep track."
The packages shipped to Kathy and Susan have a return address in St. George, Utah. But Kathy says when she asked the customer service representative, "He said, 'we're in Colombia, South America."
Consumer Justice producers found beauty cream companies with post office boxes in Utah, New Jersey, and California. Another claims to be based in Dallas but would not provide a street address. The owners of several of the websites have paid domain registries to keep their information private. "Tracking down who owns the website is a huge issue," said Price, "because it could be coming from anywhere from around the world."
"They enrolled you and hidden where they are," said Sinclair.
Customers who think they've been wronged are encouraged to file complaints with the FTC. Last year the agency fined 19 skincare companies $72.7 million for violating the negative option law. Experts also recommend filing a dispute with your credit card company.
Consumer Justice is not done with this investigation.
Has this happened to you?
Email us at firstname.lastname@example.org or call the Consumer Justice Hotline at 817-586-7211.
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