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Saturday, October 20, 2007
BoSacks Readers Speak Out: Time Inc and Writing for the Web
BoSacks Readers Speak Out: Time Inc and Writing for the Web
Re: BoSacks Speaks Out: Time Inc: 'No Pressure' to Write for Web
Oh, silly Bob, why are you expecting logic? I think one of the last lines in the story gives it away: Guild representation was only for print and didn't extend to online. That would make it a power struggle and, therefore, emotional, not purely logical. The Guild probably saw the push to online as a possible way around its contract with Time Inc. One of the big fears of writers, as well as photographers and graphics artists, is that publishers started people on the web at lower rates because it wasn't "making money," and now that it's gotten really big, wages haven't gone up. It's true for freelancing, and I would bet it's true for staff positions as well. Unless some serious changes come into play, people working on the content end are going to find their incomes seriously cut back over time. Another part of this may also be about prestige and maintaining power within the organization (writers don't get to make traditional empires within corporations), and also seeing writing for the web as additional duties and work with no additional pay - which gets back to the Guild issue.
(Submitted by a Writer)
Re: BoSacks Speaks Out: Time Inc: 'No Pressure' to Write for Web
As a seasoned journalist and editor, I believe that everyone with a passion for covering the news in their industry wants to be writing for the new media. It's a lot of fun and definitely improves your future career choices.
The problems arise when we are expected to double or triple our workload with no increase in compensation. After all, ad sales staff get commissions on everything they sell, whether it be in print or on the web. Why shouldn't editorial staff be compensated for their additional work?
We've been feverishly working away, waiting for the new media to start making money so we can reap some additional benefits. But so far, in large part, it just isn't happening. Oh, and now the latest news is that some media companies are farming out their news writing tasks to India for pennies on the dollar. That should do a lot for our compensation packages. Hopefully the dollar will soon fall low enough that the use of foreign labor will becomes less advantageous.
(Submitted by a print/enewsletter/webinar/event/website writer/editor)
Re: BoSacks Speaks Out: Time Inc: 'No Pressure' to Write for Web
Bob, In terms of missing something . . . has there ever been a union action that wasn't about compensation? There can be validity to "what I was hired to do" but I think you need the context of how the Time/Guild negotiation went. It was contentious and that has been an escalating history since the '80s. When a union is backed up against a wall with so many things they can not control, scope of work and the ability to be compensated for those changes is a point the union has legal basis to argue. There were some similar situations at Time several years ago when "special" and commemorative issues were all the rage, writers were able to argue that these additional "issues" merited additional compensation. I think the Guild just wants to assert that Time mgmt. can't impose scope of work changes without consulting the union and offering compensation. I don't there's a Guild member who doesn't understand the digital migration.
(Submitted by a Senior Magazine Director)
Re: BoSacks Speaks Out: Time Inc: 'No Pressure' to Write for Web
The logic is simple. The writers had a contract, and you're not allowed to change it.
But it does sound like ITU/Big 6 all over again, huh? People being paid to come in and not set type so the new tech can start to be implemented.
They don't want to follow the money. They want the contract honored. Jobs today are more important than jobs tomorrow.
Put your blinders back on and get back to work.
(Submitted by an Industry Consultant)
Re: BoSacks Speaks Out: Time Inc: 'No Pressure' to Write for Web
I'll tell you, Bo, why I don't write for the web: I've done it before, and have found my essays copied, word-per-word, without attribution or so much as a byline, on other people's personal websites. This has also happened to many of the writers who write for my (paper) titles. It's bad enough that I don't get paid for web writing (because folks won't pay for web *reading*) but to find my hard work lifted in toto and passed off as someone else's work is simply adding insult to injury. I'm waiting for better protection for intellectual property before I put my work up on the Web; when I feel there's a reasonable chance of a) getting paid and b) not getting ripped off by readers, for Goddess' sake,
I'll be on the Web along with everyone else.
Until then, I'm sticking with tree bark and petroleum byproducts.
(Submitted by a Publisher)
RE: I cut down trees, I love my job
It's so funny that you send this out. After your first article I was noticing how you really love that "dead tree" analogy with print publishing. It's not all bad, especially to these loggers below . . .
(Submitted by a Publisher)
Re: Anderson News Move Puts SBT in the Spotlight
Harrington has ALWAYS taken the side of the wholesaler(s), and never looked at the perspective from the ND/Publishers side.
He reminds me of the cal Thomas of the Republican right wing. Cannot grasp the changes have taken on both sides of the fence. Without the ND/Pubs the w/s does not have a business, and John has never accepted that concept.
Both ND/Pub and wholesaler all need each other, It would be costly for ND to go out and find some new local distributors, like almost happened last week.
(Submitted by an Unknown)
Re: Major Consumer Magazines May Not Hit Wal-Mart Shelves (and other major retailers) Next Week
Simple GET RID OF THE WHOLESALERS AND DEAL DIRECT WITH THE RETAILERS, that is what WalMart has wanted all along and they do over 20% of the newsstand sales anyway, who needs Anderson, or anybody else for that matter?.
(Submitted by a Paper Person)
RE: Embrace digital or die, EMI told
EMI and other content publishers may not have much choice if the creators decide that they've been poorly treated for long enough. Radiohead, like many bands, probably makes little from actual record sales. Virtually any amount fans might be willing to pay would be a huge pay raise for them. I know writers and photographers trying to do the same thing. If they succeed, they'll walk away from traditional publishing happily, leaving publishers in an increasing bind. Going digital may not be enough when the people that they've really depended on feel little loyalty or affection.
(Submitted by a Writer)
Re: The Magazine Marketplace in Flux-How Can PR Benefit (and Help)?
Why is there nobody out there that recognizes the fact , the magazine industry suffers from too much duplication. "Look at the newsstands stupid" especially in chain bookstores and you will see what I mean.
In driving sales, magazines rank No. 1
Medium enhances TV and internet campaigns
By Heidi Dawley
Finally, a positive few words about beleaguered magazines, after years in which the medium has been losing readers and advertisers to the internet and elsewhere.
When it comes to advertising effectiveness, a new study finds, magazine advertising remains especially effective in enhancing consumers' impressions of the product and their intent to purchase that product.
The study found that adding magazines to a TV and internet advertising campaign significantly boosts the success of the campaign, and in some key areas the contribution of magazines outweighed that of TV.
The study, by Dynamic Logic, a New York research company, analyzed 32 cross-media campaigns from 10 different types of companies, including consumer goods, automotive, electronics, apparel and financial services. Most were U.S. campaigns but some were global as well.
The researchers first isolated the impact of TV advertising. They then looked at what impact adding the internet had. Last they looked at what magazines contributed to the mix.
To do this, the study compared results from people who had seen only the TV ads with those who had seen TV and internet, and then those who had seen ads in all three media.
Dynamic Logic undertook this study to better understand how different media work when used together, says Bill Havlena, vice president, research analytics for Dynamic Logic.
With advertisers and marketers increasingly using multiple media together in campaigns, understanding how the media work together when planning becomes more and more critical, says Havlena.
In this study, the researchers found that the three different media worked best when used together. Both online advertising and magazines added significantly to the impact of the advertising when used along with TV.
Further, each media contributed in a different way.
"The different media are working most strongly at different points in the purchase process," says Havlena. "The results confirm the strengths of all the media working together in a way that we hadn't seen before."
Looking at the data shows that TV worked strongly in generating brand and advertising awareness. In those categories the other two media built strongly on the initial impact of TV.
For instance, in terms of brand awareness, TV added 7.6 percentage points to the original percentage of people who were aware of the brand. The internet added another 3.7 points to the level of awareness. Finally magazines added another 5.7 percentage points (see chart, below).
In terms of advertising awareness, TV provided a bump of 9.8 percentage points. The internet, which performed strongest in the same categories as TV, added another 4.4 points.
Surprisingly, magazines also performed strongly in building advertising awareness, adding 8.3 points.
"We would not necessarily have expected that. It is clear that TV did a strong job in building awareness, but TV is thought of as an awareness-building medium, magazines, less so," says Havlena.
But it was in the final two categories of the purchase funnel that magazines really excelled when used in combination with TV and internet.
When it came to brand favorability and purchase intent, magazines added far more than TV and internet combined. For instance, in the key area of purchase intent, TV added 4.6 percentage points; the internet added 1.0 points; and magazines added 7.0 percentage points.
Friday, October 19, 2007
The Rich Get Nicher, Go Online, Use Blogs, Read People Magazine
by Joe Mandese
IN THE WORLD OF CONSUMER targeting, not all demos are created equal. For marketers of especially high-end products and categories such as luxury goods, business travel and big, capital intensive purchases, only the most elite consumer prospects will do. The problem, however, is how to identify them with research generally designed to target the masses. Suddenly, however, Madison Avenue has grown rich in data targeting, well, the rich. In the past few weeks, Paris-based research giant Iposos released the findings of an annual study on the business elite in the U.S. and other key markets around the world, and on Monday, U.S. researcher Monroe Mendelsohn Research gave a valuable freebie to members of the American Association of Advertising Agencies: A summary report from its recently released Mendelsohn Affluent Survey. Both studies go beyond conventional, syndicated media and marketing research aimed at the general consumer public, surveying only the most elite consumer prospects. In the case of Ipsos' research, the targets literally are the "Business Elite." In the case of MMR, they are simply the "affluent." As it turns out, there are some surprises in the media usage habits of both those high-end consumer groups.
Most startling of all, says Hugh White, director of Ipsos Media, is the fact that America's business elite - executives with C-level titles or the senior-most managers just below them - are voracious users of new media such as online blogs and podcasts, and their overall usage of online media is growing faster than the general public.
"We were absolutely surprised that these people, who are middle-aged males for the most part, are very active in these new media," says White, of the elite group representing just 0.26% of the U.S. adult population, but earning an aggregate $246 billion and having a combined net worth in excess of $1 trillion.
Nearly a third (31%) of this C-level crowd reported reading an online blog at least once a month, while 5% said they have personally contributed to a blog, statistics that surprised even the Ipsos research team.
"When we added that question for this year's survey, I told people not to expect anything," White admits, citing other noteworthy digital media stats, including the fact that nearly a quarter (23%) of the elite business audience reported downloading a podcast in the past month, and that their overall usage of the Web is growing more prevalent. More than half (54% ) reported visiting a business related Web sites, while the overall daily online reach has grown 6% since Ipsos' 2006 study.
"Media is highly important to these people," White observes, noting that they also continue to be big users of print media, especially business and financial journals, and major daily newspapers.
Meanwhile, the data released to the AAAA members on Monday may not be as elite (it represents individuals living in households with annual incomes of $85,000 or more), but it also reveals some surprising media usage patterns among America's wealthiest consumers.
The top magazine in terms of average issue audience among the richest segments is not financial magazines, golf journals, or high-end luxury magazines, but is actually People magazine, followed by House & Garden, National Geographic, and Sports Illustrated. Joe Mandese is Editor of MediaPost.
Wednesday, October 17, 2007
Revenues Climb, But Pages Dip for Consumer Magazines
By Dylan Stableford
Great Year So Far for Rachael Ray; Most Business Magazines Struggle
Given the often-beleaguered state of print advertising, any increase should be considered good news, so this news should thrill consumer magazine publishers: the Magazine Publishers of America's Publishers Information Bureau is reporting that total rate-card-reported advertising revenue increased 5.6 percent for the first nine months of 2007 when compared to the same period last year. Total ad pages, However, dipped one percent over the same period.
That revenue climbed despite slipping pages means that the spending-and rates-have increased in top categories like toiletries and cosmetics, says the MPA's chief marketing officer Ellen Oppenheim.
Among the top increases in advertising revenue: OK! registered a 140 percent increase in revenue (to $32.5 million) and a 44 percent increase in ad pages; Star's advertising revenue increased nearly 30 percent (to $147 million) and 25 percent more ad pages. More saw increases of 25 percent and 18 percent in revenue and pages, respectively; Fast Company saw growth in revenue (16.7 percent) and ad pages (10.7 percent); Quick & Simple gained 46 percent in ad revenue despite a nine percent decrease in ad pages; TV Guide's revenue increased 36 percent to $150 million; and Everyday with Rachael Ray continued its magical run, up a ridiculous 500 percent in ad revenue ($49.2 million over seven issues versus $8 million over four in 2006) on nearly double the ad pages (467 vs. 237).
In the men's health and fitness category, Men's Fitness boosted both its ad revenue (a 41 percent increase to $51,663,772) and pages (615, a 25 percent jump); Men's Health saw a 25.5 percent increase in PIB revenue and 17 percent in ad pages; and Men's Journal climbed 22 percent in revenue and 16.5 percent in pages.
But not all magazines fared as well. In the business category, BusinessWeek-which unveiled a splashy redesign this week-dipped in revenue (-11.3 percent) and ad pages (-16.4 percent) when compared to the first nine months of 2006. Fortune (down 11 percent in revenue, 18.6 percent in pages), Money (-10.2% in revenue, -20% in pages) and Fortune Small Business (-22.3%; 19.7%) suffered similar declines. Time Inc.'s failed Business 2.0, which published its final issue this month, dropped 32.1 percent in advertising revenue on 36 percent fewer ad pages.
Newsweek, which today unveiled an extensive redesign, was down three percent in revenue ($315.4 million) on 8.5 percent fewer ad pages. Newsweek's chief rival, Time, has had a tougher year on the heels of its own redesign, down 17.3 percent in revenue ($365 million) and 5.8 percent in pages (too 1,459.32).
PC Magazine's print ad revenues dipped 29.8 percent on 33 percent fewer ad pages. And something called Ride BMX skidded 27.4 percent in revenue and 30 percent in ads, respectively.
If you buy into the premise of this article, that the game Halo3 has actually affected the movie industry, Then I ask you ponder if it is a reach to think that gaming is also affecting magazine readership? What do you think?
"Time is swift, it races by; Opportunities are born and die . . . Still you wait and will not try - A bird with wings who dares not rise and fly."
A. A. Milne (English Humorist, creator of Winnie-the-Pooh, 1882-1956)
Bad Box Office? Blame 'Halo'
Film Execs Fault Blockbuster Video Game for Worst October Ticket Sales in Years
By Claude Brodesser-Akner
The joystick has brought Ben Stiller nothing but sorrow.
Industry expectations for "The Heartbreak Kid," the date movie that re-teamed him with the Farrelly brothers (the duo who made him a megastar in "There's Something About Mary"), called for a $20 million to $25 million opening for the film. Instead, "Kid," which cost north of $60 million to make, managed only $14 million in the U.S. and Canada -- heartbreaking, indeed.
'Halo 3' sold an astonishing $170 million worth of copies on its first day before going on to sell well over $300 million.
But there's more. Total industry ticket sales were only $80 million for the Oct. 5 weekend the film opened, a whopping 27% below the same weekend the year before, according to research firm Media by Numbers. That's the industry's worst performance for an October weekend since 1999. Overall, domestic receipts are down 6% from last fall.
Blame the Master Chief.
Glued to joysticks
Many film executives are convinced audiences stayed home to play Microsoft's carpal-tunnel classic, "Halo 3," which went on sale on Sept. 26. The game sold an astonishing $170 million worth of copies on its first day, before going on to sell well over $300 million.
It doesn't appear the Chief stayed in shrink-wrap for long, either: More than 2.7 million gamers have played "Halo 3" on Xbox Live -- Microsoft's multiplayer gaming offering -- in the first week, representing more than one-third of the 7 million Xbox Live members worldwide. Within the first day of its launch, "Halo 3" players racked up more than 3.6 million hours of game play, and that number increased to 40 million hours by the end of the first week. For those keeping score, that's more than 4,500 years of continuous game play.
For Microsoft, it's no wonder video games, and in particular "Halo 3," are competing with blockbusters for opening weekends. "We marketed it like a film," said Josh Goldberg, a "Halo 3" product manager at Microsoft, adding, "and now, we're just as big or bigger than film." He said "Halo 3" was marketed as an event film in terms of its partnerships, with beverage, automotive, fast feeders and mobile-phone companies all joining up.
"The audience on this game is the 18-to-34 demographic, similar to what you'd see in cinemas," said Mike Hickey, an analyst at Janco Partners, a Denver research firm, adding that "this could last for several weeks."
And there's more where that came from. Take 2 Interactive's Rockstar Games is readying its release of "Grand Theft Auto 4." The latest edition of the hugely popular franchise is tentatively slated to hit shelves in March or early April of next year and could potentially steal box office. Mr. Hickey said it "could conceivably ship 9.5 million units" in its first week, translating to first-week sales of more than $400 million.
'The Heartbreak Kid,' which cost north of $60 million to make, managed only $14 million in the U.S. and Canada.
Photo Credit: Apega
Not all of Hollywood is convinced. Mediocre reviews on "Kid" piled up from critics, and at rival studio Screen Gems, owned by Sony, marketing chief Mark Weinstock says that "box office is driven by content."
Mr. Weinstock, who just opened video-game adaptation "Resident Evil: Extinction" in September, notes that clearly "some young males decided to play video games" on the "Kid" opening weekend, but noted that the R-rating of "Kid" and lukewarm reviews could have hurt the film just as much as "Halo 3."
Correlation vs. causation
A spokesman for Paramount, which owns Dreamworks, the studio that released the Ben Stiller movie, declined to discuss whether "Halo" had caused the "Kid" boondoggle. But privately, insiders at the studio suspect the blame might lie in part with "Halo 3," and are working to determine if there was a correlation.
That's because, in a twist of fate, Mr. Stiller is producing an adaptation of the bestselling book "The Ruins," which Paramount will open the first weekend of April 2008 -- right in the middle of "Grand Theft Auto 4's" expected release.
Mr. Hickey said that doesn't bode well: "This past weekend will replicate itself next year."
Or worse. He said one could roughly complete "Halo 3" in roughly 20 hours played straight through, but by comparison "Grand Theft Auto 4" is estimated to take more than 100 hours to play. That means it could keep players occupied and out of the theaters even longer.
Paper Industry Acquisitions Continue Amid Rate Hikes and Supply Shortages
By Joanna Pettas
Verso Paper-a major supplier of coated mechanical paper-may be getting ready to buy Sappi, the top supplier of coated freesheet, a number of sources tell Folio:. "It's a rumor that's been kicking around for a while," says one source. If this rumor were to manifest, one could see it leaping over the NewPage/SENA merger set for next year to create an even larger giant-with even more control of supply and pricing. A Sappi spokesperson declined to comment on "market rumors."
When NewPage closes on its acquisition of Stora Enso North America next year, the company will produce 31.4 percent of all coated mechanical and 41.1 percent of all coated freesheet paper on the continent, bumping off Verso and SAPPI who are now at 17.6 and 22.0 percent respectively, according to marketshare numbers provided by RISI, an information provider for the global forest products industry. But if Verso and SAPPI merged, they could likely take the lead. What will the presence of these imminently growing market giants mean for already-rising prices and increasingly limited supply?
More of the same, apparently. Despite a possible marketshare leapfrog, profits and supply are still uncomfortably tight. Verso and Stora are already disappointing some customers, limiting allocation of certain grades and even canceling on orders, other sources say. Also an issue is how both companies are owned by private equity, which puts a premium on short-term profits. Foreign companies divesting from the U.S. paper market are increasingly selling to financial companies, and quickly. That Stora Enso sold its U.S. holdings to New Page for about $1.7 billion after paying $4.9 billion euros in 2000 indicates a concession to a tough market. "That's quite an indicator on just how bad they want to get out of the North American market," says Steve Frye, a publishing consultant.
John Maine, vice president of world graphic papers at RISI, says that recent consolidation is not having a material impact on pricing and availability. "The most likely scenario is that coated paper prices and availability in North America are not going to be greatly affected by [the NewPage/SENA] consolidation among producers." He continues, "Coated paper prices were already rising before this acquisition was announced, and they will continue to rise in 2008 and 2009 due to capacity closures announced earlier this year."
Others disagree on the consolidation point. "I don't think the consolidation trend is good news for publishers," says Ken Garner, president of United Litho. "While some weak suppliers will be forced out, if carried to its natural conclusion, shrinking supply will result in fewer choices and higher prices."
Greater control of supply and pricing can also mean lengthening delivery dates and increasing limits for buyers, which can leave printers and publishers scrambling-particularly smaller paper customers with no reserve supply. Sources say paper buyers might be forced to compromise increasingly on quality, delivery dates, and prices. Meanwhile, Jeff Bruce, a managing director at xpedx, a division of International Paper, believes "there's no question we'll see more M&A activity moving forward."
Unable to Deliver
According to Bruce, about 17 percent of North American coated paper production permanently shut down this summer due to limited profits on coated grades and a weak dollar. A number of mills, he says, are telling customers they can't deliver in time for their fall press date, especially on the popular and particularly-tight groundwood coated #5.
This is not a surprise to many who've been expecting a turnaround from paper companies that have struggled for years. Verso, the current largest supplier of coated mechanical paper, reported a $63.8 million loss in the first six months of this year.
"Mills have finally decided to reduce supply to create shortages and raise prices," says Bruce. "The plan has worked and we have seen two rounds of roughly 7 percent increases for coated #3, #4, and #5 grade-one in July and one in October. Another is heavily rumored for January '08."
NEWSWEEK GETS A NEW LOOK IN PRINT, ON WEB
By KEITH J. KELLY
Newsweek on Monday will unveil a sweeping redesign of the magazine and its Web site while at the same time formally ending its seven-year distribution agreement with MSNBC.com.
While some recent redesigns have been introduced with fanfare, such as BusinessWeek, whose new look hit newsstands yesterday, or Time, which was overhauled in March, Newsweek Editor Jon Meacham has consciously avoided publicizing Newsweek's revamping.
"It was stealth redesign," Meacham said yesterday as he was getting ready to ship the first of the new-look pages to the printer.
"I just want people to judge it when they see it," said Meacham. "I don't believe in sweeping declarations."
As part of the redesign - the first in six years - Newsweek's logo will undergo a slight tweak, but won't be radically different from what it replaces. In addition, many of the stories in the print version will be longer.
Meacham has also lengthened its Periscope section, doubled the size of its Conventional Wisdom Watch and added four new columnists.
"What we are trying to do here is clear out the clutter and speak in a print vernacular," said Meacham.
Meanwhile, Newsweek.com will now be a standalone Web site, though it will still have some loose ties to MSNBC.com under a new multi-year contract.
The new Web site goes live tomorrow with more breaking news, a blog from Newsweek political reporter Andrew Romano and daily updates of popular print columns such as "My Turn."
Though the magazine's Web strategy of going it alone will give Newsweek technological control of over how its site is displayed, it's a gamble because a large chunk of Newsweek's Web traffic was driven by MSNBC.com.
In August, for example, roughly 50 percent of the 7.2 million unique visitors to Newsweek's Web site came from MSNBC.com.
Rival Time magazine, meanwhile, had 4.4 million unique visitors.
Microsoft's Ballmer kicks off ANA show with claim that all media will be digital in 10 years
Phoenix-In his opening keynote presentation at the Association of National Advertisers' annual conference, Microsoft Corp. CEO Steve Ballmer said that in 10 years, all media will be digital, with tremendous ramifications for marketers, agencies and publishers.
"Within 10 years, the consumption of anything we think of as media today, whether it is print, TV or the Internet, will in fact be delivered over IP (Internet protocol) and will all be digital," Ballmer said. "Everything will be delivered digitally."
He said this transformation will change the ways in which marketers, agencies and media companies deliver information to consumers and business customers, using rich Internet applications to deliver targeted messages to the audience.
"We will have rich databases of information to deliver the right message to the right person at the right time in any communication," Ballmer said.
"As soon as you assume that everything is delivered digitally, all media and all advertising will have to take that into account."
Ballmer said Microsoft is committed to developing a marketing platform that will help advertisers deliver next-generation marketing and media services.
"We're investing in this as aggressively as anything we've ever invested in," he said, pointing to recent acquisitions such as Microsoft's purchase of digital marketing company aQuantive.
Critic: Media Content 'Losing Its Value'
Art & Commerce: Death by YouTube
By Andrew Keen
Is the Web 2.0 cultural revolution of user-generated content good news for the ad industry? Will the explosion of fashionable blogs and social networks increase the size of the advertising economy? Can the YouTubification of professional creative content and the wikifying of mainstream authoritative media benefit advertisers and advertising companies?
The answer to these three questions, I'm afraid, is unambiguously negative. No, no, no. Web 2.0 is, in truth, the very worst piece of news for the advertising industry since the birth of mass media. In the short term, the Web 2.0 hysteria marks the end of the golden age of advertising; in the long term, it might even mark the end of advertising itself.
It's not possible to talk about the meteoric rise of Web 2.0 without discussing the equally dramatic fall of mainstream media. These two profoundly significant historical events are occurring in parallel, each a cause and an effect of the other. And the fate of the advertising business is intimately bound up with both Web 2.0's growth and mass media's decline.
Evidence of the crisis of mass media is depressingly ubiquitous. The recorded music business is in free-fall, the tragic victim of mass digital kleptomania. As Craigslist gives away free classified ads and fewer and fewer of us are reading a daily newspaper, so journalists are being laid off while physical papers are shrinking in size and even being shuttered. Magazines aren't doing much better, nor is radio. Meanwhile, the advertising-driven television business is about to be engulfed by the perfect technological storm of the digital video recorder and the YouTube content revolution. Even the publishing business is on the verge of an equally hideous fate as Google's universal digital library undermines both the physical coherence and economic value of the traditional book.
As the mainstream media shrinks (and with it, advertising revenues), user-generated content and even user-generated advertising are becoming increasingly popular. Web 2.0, of course, is all about the so-called "empowerment" of the consumer through the disintermediation of traditional gatekeepers such as editors and publishers. Sites such as YouTube, MySpace, Wikipedia and BlogHer are essentially bringing the price of creating content down to zero, thereby unleashing amateur mobs of wannabe Maureen Dowds, Bonos and Steven Spielbergs. Instead of Schindler's List, we now have hundreds of thousands of personal videos on YouTube; instead of op-eds in The New York Times, we get tens of millions of ill-informed opinions from the blogosphere; instead of U2's hit song "Vertigo," we have the vertiginous cacophony of hundreds of thousands of aspiring bands on MySpace.
So how does this cultural freedom and its chaotic corollary, the eruption of infinite user-generated content, affect the advertising industry? The consequences are bleak for everyone except the newly minted multimillionaires at MySpace, Facebook and YouTube. What Web 2.0 is doing, compounded by the online consumer's shrinking attention span and his or her hostility towards the "inauthenticity" of commercial messages, is radically deflating the value of advertising.
As the scarcity of mainstream media is replaced by the abundance of Web 2.0's user-generated content, advertising itself is being painfully commoditized. Sure, Google sells billions of dollars worth of ads, but advertisers are failing to reproduce the value of analog commercials in the digital sector. Web 2.0 advertising is like user-generated content: inane, ephemeral and annoying. In a word: worthless. What sells online is direct marketing (that means spam) and other increasingly low-cost, ineffective and unsuccessful ways of reaching the consumer. Today's Internet advertising is akin to life in Thomas Hobbes' state of nature: It's nasty, brutish and short.
To misquote Marshall McLuhan, the message is missing its value. More content, of course, represents less value to the advertising business. "Long-tail" digital utopians try to seduce us with the vision of a cornucopian dawn in which the Internet's infinite content will provide infinite advertising opportunities. But the supposed "freedom" of Web 2.0 is creating inferior and often corrupt content, which in turn results in fewer credible advertising opportunities for discriminating buyers. After all, what sane brand manager would consciously invest his or her dollars in a narcissistic blog, a semi-pornographic teen social network or an anonymously authored, self-serving wiki? Rather than choices, these are punishments. Caught between the Scylla of online garbage and the Charybdis of vanishing traditional media content, it's no wonder, then, that the chief marketing officer's average tenure has now dropped to little more than 14 months.
Yes, for the advertiser, media content is indeed losing its value, a value historically derived from its scarcity. This devaluation of media isn't hard to quantify: It can be measured everywhere, in falling CPM and the failure of social networks to develop viable business models. No new technology-neither the false dawn of mobile, nor the holy grail of personalized, targeted advertising-is going to save the advertising business now. No, the truth is that advertising can only be saved if we can re-create media scarcity. That means less user-generated content and more professionally created information and entertainment, less technology and more creativity. The advertising community desperately needs more gatekeepers, more professional creative authorities, more so-called media "elites" who will curate, filter and organize content. That's the way to re-establish the value of the message. It's the one commercial antidote to Web 2.0's radically destructive cultural democracy.
Group Plans to Provide Investigative Journalism
By RICHARD PÉREZ-PEÑA
As struggling newspapers across the country cut back on investigative reporting, a new kind of journalism venture is hoping to fill the gap.
Paul E. Steiger, who was the top editor of The Wall Street Journal for 16 years, and a pair of wealthy Californians are assembling a group of investigative journalists who will give away their work to media outlets.
The nonprofit group, called Pro Publica, will pitch each project to a newspaper or magazine (and occasionally to other media) where the group hopes the work will make the strongest impression. The plan is to do long-term projects, uncovering misdeeds in government, business and organizations.
Nothing quite like it has been attempted, and despite having a lot going for it, Pro Publica will be something of an experiment, inventing its practices by trial and error. It remains to be seen how well it can attract talent and win the cooperation of the mainstream media.
"It is the deep-dive stuff and the aggressive follow-up that is most challenged in the budget process," said Mr. Steiger, who will be Pro Publica's president and editor in chief. He gave up the title of managing editor of The Journal in May, but is staying on through the end of the year as editor at large; during his tenure, the newsroom won 16 Pulitzer Prizes.
Pro Publica is the creation of Herbert M. and Marion O. Sandler, the former chief executives of the Golden West Financial Corporation, based in California, which was one of the nation's largest mortgage lenders and savings and loans. They have committed $10 million a year to the project, while various foundations have provided smaller amounts. Mr. Sandler will serve as chairman of the group, which will begin operations early next year.
The Sandlers are also major Democratic political donors and critics of President Bush. Last year, they sold Golden West to the Wachovia Corporation for about $26 billion, a deal which valued their personal shares at about $2.4 billion.
Pro Publica plans to establish a newsroom in New York City and have 24 journalists, one of the biggest investigative staffs in any medium, along with about a dozen other employees. Mr. Steiger said he envisions a mix of accomplished reporters and editors, including some hired from major publications, and talented people with only a few years' experience, so that the group will become a training ground for investigative reporters. He would not say specifically where he is shopping for talent, but did not rule out The Journal.
Richard J. Tofel, a former assistant publisher and assistant managing editor of The Journal, has been hired as general manager. Board members will include Henry Louis Gates Jr., the Harvard scholar of African and African-American studies; Alberto Ibarguen, a former publisher of The Miami Herald, who is currently president and chief executive of the John S. and James L. Knight Foundation; James A. Leach, a former congressman from Iowa who directs Harvard's Institute of Politics; and Rebecca Rimel, president and chief executive of the Pew Charitable Trusts.
The nearest parallels to Pro Publica may be the Center for Investigative Reporting in San Francisco, and the Pulitzer Center on Crisis Reporting in Washington, groups that support in-depth work and have had considerable success getting it published or broadcast in mainstream media. But their budgets are a fraction of Pro Publica's, and they do not actually employ most of the journalists whose work they help finance.
Pro Publica will provide salaries and benefits comparable to the biggest newspapers, Mr. Steiger said. "I won't be offering somebody 50 grand or 100 grand more than they're making to jump ship, nor will I ask them to take a pay cut," he said.
Newspapers routinely publish articles from wire services, and many of them also subscribe to the major papers' news services and reprint their articles. But except for fairly routine news wire service articles, the largest newspapers have generally been reluctant to use reporting from other organizations.
But experts say that resistance is breaking down as the business is squeezed financially, and newspapers make greater use of freelance journalists.
"They're looking for alternative means of paying for ambitious journalism," said Stephen B. Shepard, dean of the City University of New York's Graduate School of Journalism and a former editor of BusinessWeek. "Steiger has the credibility and judgment to bring this off, and if they do good work, it will get picked up."
Bill Keller, executive editor of The New York Times, said The Times would be open to using work from an outside source, "assuming we were confident of its quality," but that "we'll always have a preference for work we can vouch for ourselves."
Mr. Steiger said that relationships with publications could be tricky, requiring the flexibility to make each comfortable.
In most cases, he said, Pro Publica will appeal to a newspaper or magazine while a project is under way, to gauge interest and how much oversight the publication wants. In others, he said, his group might present more or less finished products to other outlets.
If Pro Publica and a publication cannot agree on how to approach a topic, or what can be written about it, he said, his group will look for another outlet, or publish its reporting on its own Web site.
Mr. Sandler said his interest in investigative journalism has been abetted by friendships with reporters in the field.
"Both my father and my older brother always focused on the underdog, justice, ethics, what's right," Mr. Sandler said. "All of my life I've been driven crazy whenever I encounter corruption, malfeasance, mendacity, but particularly where those in power take advantage of those who have few resources."


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Sotheby's seeks record for 'Pink Star' diamond
Sotheby's on Wednesday showed off a 59.6-carat pink diamond that will be auctioned in Geneva in November at a record asking price of $60 million.
"The Pink Star", an internally flawless oval-cut vivid pink diamond, will become the most valuable diamond ever to be offered at auction, Sotheby's said.
"I have had the privilege of examining some of the greatest gemstones in the world over the past 35 years, and I can say, without hesitation, that 'The Pink Star' diamond is of immense importance," David Bennett, chairman of Sotheby's jewellery division in Europe and the Middle East, said in a statement.
"It is difficult to exaggerate the rarity of vivid pink diamonds weighing only five carats, so this 59.60-carat stone is simply off any scale," Bennett said.
He maintained that it belonged to "the ranks of the earth's greatest natural treasures."
The shimmering pink, plum-sized diamond, which was 132.5 carats in the rough, was mined by De Beers in Africa in 1999 and cut and polished over a period of two years by Steinmetz Diamonds, the auction house said.
When it was first unveiled to the public in 2003, it was called the "Steinmetz Pink", but it was renamed after it was first sold four years later.
The 2007 sale price was not disclosed, nor has the identity of its current owner.
The gem, which has received the highest possible colour and clarity rating from the Gemological Institute of America (GIA), is more than twice the size of the 24.78-carat "Graff Pink" diamond that set the world auction record for a diamond and any gemstone or jewel when it was sold at Sotheby's Geneva in 2010 for $46.2 million, the auction house said.
The diamond was among the world's rarest diamonds shown in an exhibit at the Smithsonian Institution in Washington DC in 2003, that also included the De Beers Millennium Star, the Allnatt diamond and the Moussaieff Red.
It was also the star attraction at a London Natural History Museum exhibit of diamonds in 2005 and 2006.
Before going under the hammer in November, the "Pink Star" will go on a worldwide tour of cities including Hong Kong, New York, London, Zurich and Geneva, Sotheby's said.
Sotheby's David Bennett talks about the importance of the jewel:

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KBC Group NV bought a new position in Post Holdings Inc (NYSE:POST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,623 shares of the company’s stock, valued at approximately $3,144,000. KBC Group NV owned approximately 0.05% of Post at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of POST. IndexIQ Advisors LLC boosted its stake in shares of Post by 0.3% during the second quarter. IndexIQ Advisors LLC now owns 1,485 shares of the company’s stock valued at $115,000 after purchasing an additional 4 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Post by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,194 shares of the company’s stock valued at $170,000 after purchasing an additional 190 shares during the period. Virtu KCG Holdings LLC purchased a new stake in shares of Post during the second quarter valued at approximately $208,000. South State Corp purchased a new stake in shares of Post during the third quarter valued at approximately $208,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Post during the second quarter valued at approximately $210,000.
Shares of Post Holdings Inc (POST) traded down $0.29 during mid-day trading on Friday, reaching $77.26. The company had a trading volume of 1,127,474 shares, compared to its average volume of 804,704. Post Holdings Inc has a 12 month low of $75.76 and a 12 month high of $89.04. The stock has a market capitalization of $5,127.62, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.09. The company has a debt-to-equity ratio of 2.56, a current ratio of 3.71 and a quick ratio of 2.90.
Post (NYSE:POST) last announced its quarterly earnings results on Thursday, November 16th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). Post had a return on equity of 7.31% and a net margin of 0.92%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $0.61 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. research analysts predict that Post Holdings Inc will post 3.83 EPS for the current year.
A number of research firms have recently weighed in on POST. BidaskClub raised Post from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Post from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. BMO Capital Markets raised Post from a “market perform” rating to an “outperform” rating and set a $106.00 price objective for the company in a research note on Wednesday, September 20th. Pivotal Research reissued a “buy” rating and set a $105.00 price objective on shares of Post in a research note on Wednesday, September 20th. Finally, Citigroup set a $110.00 price target on Post and gave the stock a “buy” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $103.25.
In other Post news, Director David W. Kemper purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average price of $79.86 per share, with a total value of $199,650.00. Following the completion of the purchase, the director now directly owns 6,700 shares of the company’s stock, valued at approximately $535,062. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.00% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/12/09/kbc-group-nv-invests-3-14-million-in-post-holdings-inc-post-stock.html.
Post Holdings, Inc is a consumer packaged goods holding company. The Company operates through four segments, namely, Post Consumer Brands, Michael Foods Group, Active Nutrition and Private Brands. The Company’s Post Consumer Brands segment includes the Post Foods branded ready-to-eat cereal operations and the business of MOM Brands.
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Publication date: 01 Dec 2022
India Public Cloud Services Market to Grow at a CAGR of 23.1% for 2021-26, According to IDC
INDIA, December 01, 2022 – The India public cloud services (PCS) market, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS), revenue totaled $2.8 Billion for the first half of 2022, according to the International Data Corporation (IDC) Worldwide Semi-annual Public Cloud Services Tracker, 1H 2022 (January-June). The overall India public cloud services market is expected to reach $13.0 billion by 2026, growing at a CAGR of 23.1% for 2021-26.
"Public cloud services continue to grow in India as there is a surge in digital services and organizations have realized the power of cloud to help them transform digitally. With the growth in digital innovation, organizations are looking to bring new products and services to the market faster through digital streams and increase their investments in technologies like AI/ML, edge computing, blockchain, and IoT to improve customer experience and business efficiency. The market also witnessed increased consumption of platform-as-a-service tools as organizations invested in modernizing their legacy applications to make them cloud native, highly scalable, and flexible as part of their digital transformation journey," says Rajiv Ranjan, Associate Research Director, Cloud and Artificial Intelligence, IDC India.
SaaS continued to be the largest component of the overall public cloud services market, followed by IaaS and PaaS during the first half of 2022. The top two public cloud service providers continue to hold more than 45% of the market.
With India being a key growth market, cloud service providers continued to expand their presence in the country by unveiling new data centers/cloud regions, thus enhancing their service delivery capabilities. With verticals like BFSI, manufacturing, etc., leading the public cloud adoption, service providers also continued to witness increased demand from other verticals like the public sector, media, gaming, etc. Collaboration applications, compute, storage, customer relationship management (CRM), enterprise resource management (ERM), security, etc., continue to be the most demanded public cloud service areas. There was also a surge in the adoption of cloud-based AI platforms and cloud-native application development.
“Demand for public cloud services continues to rise with enterprises leveraging the cloud for streamlining operations, cost optimization, accelerated innovation, increased flexibility, reliability, etc. With more Indian enterprises working on strengthening their digital and smart capabilities, public cloud adoption will continue to be driven by the demand for upgrading legacy systems, omnichannel customer expenses, real-time data analytics, connected platforms, and applications, etc. Further, the recent launch of 5G services is expected to open up a gamut of opportunities for enterprises undergoing digital transformation, thus accelerating cloud proliferation,” says Harish Krishnakumar, Senior Market Analyst, IDC India.
For more information about IDC's tracker products and research services, please contact Shivani Anand, Senior Marketing Specialist at email@example.com. You can also follow IDC India’s Twitter and LinkedIn pages for regular updates.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, company share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semi-annual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
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Disney Parks shared lots of news all week long, and they saved some exciting announcements for the fans today at the first full day of Destination D23 events.
What’s on Disney+ Canada this month? September has lots of Disney+ premieres, from new films, and series, to classics that arrive for the first time. The biggest titles arriving this month include: Thor: Love and Thunder, Reboot, Andor, Hocus Pocus 2, and Pinocchio.
There have been zombies, then there were werewolves, and now what happens when aliens come to Seabrook? Explosions, a gigantic spaceship, and lots of trouble, to start at least.
To Infinity and Beyond! Disney and Pixar’s Lightyear opens in theatres on June 17 with the definitive origin story of Buzz Lightyear, and he’s voiced by the one and only Chris Evans. The GATE is thrilled to give away double passes to advanced screenings of the film in Toronto, Vancouver, Calgary, Edmonton, and Montreal.
Disney’s Jungle Cruise is instantly familiar, and that’s not just because it’s based on the Disneyland ride that’s been around for more than 60 years.
Mulan has always been one of Disney’s toughest characters. She’s a proud woman with a big heart, and director Niki Caro’s live action remake finally gives her the chance to be something else too: an action hero.
Do you want to build a snowman? For Trent Correy, the Animation Supervisor at Walt Disney Animation Studios working on Frozen 2, that was actually his job, and the Canadian artist and animator has helped build that snowman since the original film.
Walt Disney Animation Studios’ Frozen 2 arrives on 4K Ultra HD, Blu-ray, and DVD tomorrow, and we want to give you and your family a chance to bring home the magic.
Cozy up with friends or family and enjoy the Christmas spirit with some of the best classic holiday movies, all from the best streaming services.
Disney+ has become one of the most talked-about streaming services in less than a month, and Baby Yoda may just be the unofficial mascot. Plus, it’s the perfect holiday treat for everyone in the family.


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Senior government officials from the Ministry of Electronics, Information & Technology (MEITY), Department of Telecommunications (DoT), Reserve Bank of India, industry and experts participated in the event.
Alan Mamedi, CEO & Co-founder, of Truecaller, reiterated the company’s commitment to building customised products and features to help citizens of India combat fraud.
Committed to the purpose of providing a safe communication experience and addressing the growing threats of online and mobile fraud in our increasingly digitised society, Truecaller, the global leader in safe digital communications, joined forces with the PHD Chamber of Commerce and Industry to host a Fraud Prevention Summit in New Delhi. The summit served as a collaborative platform for various stakeholders, including industry leaders, government representatives, technology innovators, policymakers, and safety experts, to explore the crucial theme of Enhancing Safety in Digital Communication. The event facilitated a meaningful dialogue on comprehending the legal, social, and economic impacts of fraud, as well as harnessing the power of AI and technology to mitigate risks and combat fraudulent activities in the rapidly evolving digital landscape.
Alan Mamedi facilitating Secretary, TRAI, V. Raghunandan
Speaking as the chief guest at the event, Secretary, TRAI, V. Raghunandan underscored the significance of combating digital fraud, stating, “Only one agency, public or private cannot address all the dimensions of security in the country. The approach must be collaborative with strategic public-private partnerships. India is likely to lead such developments and this is the reason why we must look at every security dimension. Collaboration is the new mantra!”
Alan Mamedi, Co-founder and CEO of Truecaller highlighted the company’s efforts and stated, “At Truecaller, we are dedicated to advancing our products and services to match the swift evolution of fraudulent activities facilitated by technology. Our commitment involves proactively mitigating risks through innovation and fostering collaboration among all stakeholders. This collective effort is crucial in preventing fraud, safeguarding citizens, and ensuring a safe digital experience for citizens. The Fraud Prevention Summit represents a significant step in this direction, uniting key stakeholders to adopt effective strategies to counter emerging threats and fortify user trust in digital communication.”
Furthering adding, Sandip Chatterjee, ‘Scientist G’ and Group Coordinator of the Cyber Law and Data Governance Division at the Ministry of Electronics and Information Technology said, “On behalf of MEITY, I’d like to congratulate Truecaller & PHD chamber of Commerce & Industry for organising the Fraud Prevention Summit to raise awareness and bring together stakeholders to ensure responsibility and safety of citizens in digital communication.”
The Fraud Prevention Summit also witnessed the esteemed participation of Dr.Sandip Chatterjee, ‘Scientist G‘ and Group Coordinator of the Cyber Law and Data Governance Division at the Ministry of Electronics and Information Technology, along with Naveen Jakhar, Assistant Director General at the Department of Telecommunications, and Brijlal Singh, Deputy RBI Ombudsman and Rakesh Maheshwari, independent consultant & former Senior Director and Group Coordinator, Ministry of Electronics and Information Technology.
Truecaller has forged close collaborations with various government departments and agencies, including the Ministry of Electronics and Information Technology, Ministry of Home Affairs, Department of Telecommunications and Telecom Regulatory Authority of India as well as law enforcement agencies and civil society organisations. These partnerships are aimed at combating fraud and enhancing safety in digital communication. With over 262 million users in India, Truecaller is a trusted ally for protection against spam, scams, and fraud.
We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for over 368 million active users, with more than a billion downloads since launch and close to 50 billion unwanted calls identified and blocked in 2022. Headquartered in Stockholm since 2009, we are a co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since October, 2021.
Visit truecaller.com for more information.
Disclaimer: This content is distributed by Newsvoir.


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Also in this letter:
â Grab.in from Reliance Retail joins ONDC
â Oracle’s cloud unit in India aims for triple-digit growth
â Venture capital portfolios fighting the âforce of gravityâ: Venky Harinarayan
Dodgy loan apps are coming back to haunt borrowers
In recent months, thousands of people have fallen prey to apps that offer quick loans online without carrying out the appropriate checks. Their customer onboarding and loan approval processes are quick and convenient, but circumvent RBI rules.
And most users who take out such loans are unaware of the fine print â and the consequences of non-payment.
Harassment: âWhen you apply for the loan, it says it is for 92 days. However, it is only for seven days,â said a Noida resident, who downloaded a loan app called Credit It in 2020.
“Even if it’s only for seven days, they (the loan app reps) start calling you from the fifth day to make the payment. Previously when we paid, they would update it properly. But now they don’t even update the amount paid. They just ask for more and more money!” he said.
The debt collectors, having got hold of his contact list, also called his aunt and asked her to compel him to pay. She was abused and threatened on the phone, which caused her to cut ties with her family.
Ladder: Between April 1, 2021 and March 3 this year, the RBI received 7,813 complaints against banks and non-bank financial firms over digital lending apps and debt collectors.
Pravin Kalaiselvan, director of SaveThem India Foundation, a non-profit organization that helps victims of cybercrime, said: “Over 5,500 complaints have been filed through our Google Forms since the beginning of this year.”
âOur studies revealed that most of these entities operate from Delhi, Kolkata and Bengaluru. Since December 2021, we have noticed a new trend â these apps threaten not only to socially shame victims, but also to transform their images into defamatory ways.
Grab.in from Reliance Retail joins ONDC
Grab.in, owned by Reliance Retail, a last-mile logistics provider, integrated its platform into the Open Network for Digital Commerce (ONDC), according to a senior company executive.
It will support intra-city hyperlocal deliveries, said Pratish Sanghvi, co-founder.
Founded in 2014, Grab.in caters to restaurants, online grocers, offline and online retail, e-commerce platforms, Kirana stores and pharmacies.
It was acquired by Reliance Industries in 2019 and is now hosted by Reliance Retail, which owns an approximately 80% stake.
Join the club: While Dunzo, backed by Reliance Retail, is already on the ONDC as a logistics partner, Grab’s entry marks Reliance’s official entry into the highly publicized network.
ONDC is portrayed as a disruptor to break the dominance of e-commerce companies Amazon India and Walmart-owned Flipkart.
State of play: ONDC launched a pilot project in six cities in categories such as groceries and baked goods.
ONDC executives are busy integrating traders, logistics partners and other stakeholders.
We reported that platforms like PhonePe were in advanced stages of integration.
Logistics providers such as Flipkart’s logistics arm, Ekart, have already integrated into ONDC. The integration with Shiprocket went live at Lucknow in June.
Oracle’s cloud unit in India aims for triple-digit growth over the next few years
Garrett Ilg, President of Japan and Asia-Pacific at Oracle
The Indian unit of Oracle Cloud Infrastructure (OCI) is target three-digit growth over the next two years, on the back of the country’s economic growth and rising middle-class spending on technology, the top leaders said.
He is also betting heavily on the financial sector as well as government projects to drive this growth.
âThe Indian economy is expected to grow by almost 8% this year. It is far above all the other economies in the world. If you take into account the size of the economy and the growth of the middle class, it’s getting richer,â said Garrett Ilg, president of Japan and Asia-Pacific at Oracle.
This comes as Oracle’s business in India has been a strong growth driver for the company – with the OCI unit growing over 100% for the third consecutive year and the software business as services (SaaS) has also more than doubled for each of the past two years.
Chargebee’s SaaS suite seeks to help customers earn more
Software-as-a-service company Chargebee released a heap of products aimed at helping companies extract more revenue from their subscribers, amid signs of pricing pressure facing high-growth companies and slowing demand in the US economy.
Chargebee had made successive acquisitions over the past 18 months – Brightback, numberz and RevLock in the subscription and cash flow management space – which were reversed for the customer loyalty suite.
Firms have slashed customer acquisition costs amid fears of a slowing US economy and venture capitalists frowning at previously agreed valuations and startups agreeing to raise capital at lower ratings.
The product helps businesses focus on retaining the customers they already have, at a time when businesses and consumers are forced to assess everything in their portfolios and make tough decisions, the co-founder and COO Rajaraman Santhanam.
Venture capital portfolios fight the ‘force of gravity’, says Venky Harinarayan
Every venture capital (VC) portfolio is battling a ‘force of gravity’ that could drive valuations down 50% as uncertainties in the macro environment and a funding winter shake up the ecosystem, said Venky Harinarayan, founding partner of venture capital firm Rocketship.vc.
The founder of Junglee Corp, which provided technology to help consumers find products on the internet and was acquired by Amazon in 1998, later joined the US e-commerce giant, playing a key role in the business for several years.
âVenture capital portfolios are illiquid because they are not marked down like public companies. In the corresponding public markets, an average tech company has conservatively been written down by 50% (in terms of market cap). So you would expect the average venture capital portfolio to be down 50% at this point,â Harinarayan told us.
âAt the moment no one is raising funds, so previous assessments stand. The reality is that every venture capital portfolio struggles like a 50% force of gravity pulling it down,â he said. declared.
The ecosystem can survive the funding winter and avoid portfolio markdowns while waiting for public markets to âroarâ back and, in turn, startup valuations to improve.
TWEET OF THE DAY
Other Top Stories by our journalists
New-age policies for a new-age workforce: Two weeks ago, lifestyle tech brand Noise rolled out a âno questions askedâ leave policy. Employees were allowed to take up to four weeks off a year without specifying the reason. Experts say initiatives like these encourage better work-life balance, while building accountability, commitment and loyalty.
Ransomware attacks: An organization in India was attacked with ransomware an average of 1,787 times per week over the past six months, compared to 983 weekly attacks per organization worldwide, according to Check Point Software.
Global Choices We Read
â Next generation play-to-earn games have arrived. Gamers are still skeptical (Rest of the world)
â Virtual reality still stinks because it doesn’t smell (Cable)
â Silicon Valley swings between deep cuts and bold spending (WSJ)


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Free plant-powered period products launched on International Women’s Day
Queen Margaret University students will be able to access a new range of free sustainable period products from 8th March onwards, thanks to a new partnership with Hey Girls, the Scottish ‘buy one, donate one’ period product social enterprise.
In 2018, the Scottish Government became the first country in the world to make period products free for all and actively supports colleges and universities in tackling period poverty by providing free period products for students, which can cost up to £8 per month. Thanks to this government funding and the new collaboration with Hey Girls, Queen Margaret University students can now benefit from this enhanced period poverty initiative with access to a range of single-use sustainable products or reusable period products on campus.
The collection, which includes reusable day and night pads, non-applicator tampons and applicator tampons, will be launched on International Women’s Day in conjunction with the Student’s Union. Students will be able to learn about the products and pick up a supply via a ‘period pop-up stand’ at the Musselburgh campus.
Daisy Williams, University & Colleges Partnership Manager at Hey Girls, said: “We are working with QMU to address period poverty and its environmental impact by providing students with period products made from 100% recyclable or biodegradable materials, alongside a selection of sustainable and reusable items. Our products are ‘plant powered’ – having been made from a combination of cotton, bio-based sugar cane, corn starch, and sustainable bamboo, to ensure all students can have a stress-free and free-of-charge period while protecting the environment.”
Research by Plan International UK found that period poverty affects 1 in 10 people across the UK. In Scotland, the number is thought to be closer to 1 in 4, leaving many people – including students - to have to prioritise purchases or go without period products at all.
"The theme for International Women’s Day this year is #BreakTheBias. As such we’re tackling period inequality by supplying period products to all QMU students that need them. There are lots of myths and taboos that surround periods and the on-campus launch on International Women’s Day aims to break these down. We love Hey Girls, not just for their eco-conscious period products, but also for their social good. They are the perfect partner for this project, and we are delighted that this important initiative fits so well Queen Margaret University’s values of on social equality and sustainability."
Hey Girls has given away over 20 million period products to people in need as part of their ‘buy one, donate one’ business model and works closely with a number of universities and colleges to ensure students that need access to quality period products, get them.
Celia Hodson, Founder & CEO of Hey Girls, added: “This new partnership with QMU will ensure students get access to vital period products which fund the fight against period poverty in Scotland. For us, it is always a privilege to partner with organisations whose goals are aligned with our own; sustainability and education being key factors. We currently supply over 60 universities and colleges with our award-winning period products and are committed to the ongoing support to the student community in the area of period health, equality and dignity.”
Notes to Editor
For further details about the pop up give away event on International Women's Day, please email QMU's Student President on: APatankar@qmu.ac.uk


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Accidents taboo in world of perfect parenting Parents left feeling inadequate after reading posts on Facebook and Instagram reveal they would not be willing to admit to their child suffering a serious accident for fear of being judged on social media. New research out today from the Child Accident Prevention Trust (CAPT) reveals that nearly…
The Bitrex Taste Test – dare to share
See what happens when one of the CAPT team tries Bitrex!
Bitrex is the bitterest substance on earth. It is added by manufacturers as a safety ingredient to products to stop small children accidentally swallowing them.
Storing products out of sight and reach of children can prevent little hands finding them. And safety caps can slow them down – however some three or four year olds can open them in seconds. Bitrex makes potentially harmful products taste so bitter that children will spit them out before swallowing them, acting as a third line of defence.
Why not invite parents to taste Bitrex for themselves by ordering a Bitrex Taste Test kit? The memory of the taste will last for a long time, as will the important safety messages about preventing their child being poisoned.


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CBN says portal has reduced export documentation process to 30 minutes from 2 weeks.
The Central Bank of Nigeria (CBN) has said that the introduction of its Trade Monitoring Portal (TRMP) has helped reduce the time of completion for the export documentation process from 2 weeks to about 30 minutes currently.
This is as the apex bank has asked Nigerian commercial banks to take advantage of their presence in other parts of Africa to support Nigerian businesses seeking to expand into new markets.
According to a report from the News Agency of Nigeria (NAN), this was disclosed by the Governor of The Central Bank of Nigeria (CBN), Mr Godwin Emefiele, at the Zenith Bank’s 2021 Export Seminar on Tuesday, April 20, 2021, in Lagos.
What the CBN Governor is saying
Emefiele said the apex bank through its Trade Monitoring System (TRMS) portal was helping to reduce the time it would take to complete the export documentation process adding that faster turnaround time could help to reduce delivery time for goods destined for exports and enable businesses to expand their output.
He said: “Today, businesses can complete their NXP applications on the TRMS portal in 30 minutes relative to two years ago, where it can take as much as two weeks to complete the process.”
The CBN governor said the apex bank in collaboration with stakeholders is trying to reposition the Nigerian Commodity Exchange to facilitate greater trade for operators especially in the area of manufacturing, ICT, agriculture and financial services.
He said that international buyers of raw and processed agricultural commodities can now enter into forward contracts with domestic suppliers on the exchange once the exchange becomes fully operational in the second half of the year.
Emefiele believes that these forward contracts would help to support improved productivity for farmers and agro-processors and also help to improve access to credit for these entities using the forward contracts as collateral.
Also, the apex bank boss has called on the commercial banks to support Nigerian businesses by providing trade facilities to those with strong potential for growth.
He said that the CBN had moved to improve the productive capacity of businesses, which would enable them to take advantage of export opportunities in Africa.
Emefiele said, “Our intervention programmes in the agriculture and manufacturing sectors, are helping to enable businesses to expand their scales of production, which is not only meeting growing domestic demand for goods but also providing goods for the export market.
In addition, we have set up a N500 billion non-oil export stimulation facility with the Nigerian Export-Import Bank. This initiative will also help to enable greater exports of processed agriculture commodities into other markets in Africa and in the global market.’’
According to him, improving the business environment in Nigeria is also vital if we are to harness the gains from the Africa Continental Free Trade Agreement (AfCFTA).


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By Sharon Silke Carty, USA TODAY
DETROIT Just eight months after taking the reins at General Motors, CEO Fritz Henderson was ousted by the board Tuesday.
Henderson, formerly old GM's chief operating officer, fought from the beginning to be considered a viable chief but often appeared to be at odds with Ed Whitacre, the company's government-named chairman of the board and now interim CEO.
"Fritz has done a remarkable job in leading the company through an unprecedented period of challenge and change," Whitacre, former CEO of AT&T, said at a news conference. "While momentum has been building over the past several months, all involved agree that changes needed to be made."
GM's board said it will search inside and outside the auto industry for a new leader. It could be looking to copy the success of rival Ford Motor, which tapped Boeing leader Alan Mulally as CEO in 2006.
Henderson and Whitacre clearly differed on at least one major decision: Whether to sell GM's European Opel unit. Henderson, working with the German government, engineered a deal with a group led by auto supplier Magna and a Russian bank. After months of negotiations, the board overruled the idea. It decided GM needed Opel, the source of some of its key global vehicle platforms.
DRIVE ON: Will more auto CEOs hit the road?
"Any time you have very strong-willed people, you always have the risk that something is going to come apart for whatever reason," says David Cole, chairman of the Center for Automotive Research.
Meanwhile, Henderson's deals to sell Saturn and money-losing Swedish brand Saab fell apart. Saturn is closing. GM said Tuesday it will give Saab until year's end to seek other bidders or be closed.
Henderson was not seen by many as a permanent CEO. When the government's automotive task force asked Henderson to take over after ousting then-CEO Rick Wagoner, Henderson asked that his title not include the word "interim."
"This does not come entirely as a shock," says Michelle Krebs, senior analyst at consumer website Edmunds.com. "Ed Whitacre was the government's choice to lead the company, and the Automotive Task Force always appeared lukewarm about the idea of Fritz staying in the top job."
The task force, which has overseen a more than $50 billion government-financed restructuring of GM, installed an independent board to correct what they saw as a lax board at old GM.
"This board is going to be way more active than they have been in the past," says Brad Coulter, a turnaround expert at O'Keefe and Associates. Pushing out Henderson "sends a signal to the rest of the organization that things are going to change."
BUYERS EMERGE: But GM to phase out Saab without a deal soon
LA AUTO SHOW: See photos of some of the models being shown
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In 2002 NVIDIA released "Dawn", a high-end DirectX 9 tech demo featuring a beautiful forest fairy that captured the hearts and minds of PC gamers all over the world. That mystical creature looks even more gorgeous ten years later.
As predicted, Crysis 2's Ultra Upgrade hit today, giving PC gamers full DirectX support for the shooter.
Details are basically non-existent, but Crytek has officially announced that there will be a DirectX 11 patch for Crysis 2 to take full advantage of modern PC gaming hardware. [MyCrysis.com] (Thanks, Kyle!)
This is a new demo for 3DMark 11, the latest version of the venerable PC graphics benchmarking tool. It's basically showing what a PC game running DirectX 11 at full settings would look like. In your dreams.
4A Games and THQ would like everyone to know that their upcoming post-apocalyptic shooter Metro 2033 will feature "the most advanced DX11 techniques yet seen" on your PC.
Curious to see which games will support the latest in PC graphics wizardry, DirectX 11? There's no better place to look than this list provided by AMD.
Codemasters trotted out the PC version of Colin McRae: DiRT 2 today at the Windows 7 launch in New York, showing off the snazzy DirectX 11 features the game was delayed for.
DirectX11 hits alongside Windows 7 later this month, and with it will usher in a new generation of pretty, oh so pretty PC games. Yet the first game to support DirectX11 won't be a shooter.
Completely pointless from a consumer standpoint, we know, but then, we also know this kind of stuff is cool regardless; witness one of AMD's new DirectX 11 graphics cards running a game on six monitors.
When Windows Vista shipped, it shipped alongside DirectX 10. DirectX 10 would only run with Vista. It wouldn't run with the faster, more stable, more popular Windows XP. This made those running games on XP unhappy. Well, fast forward a few years, and the next release of a Windows OS - Windows 7 - won't be repeating…
Do you feel that, PC gamers? That pressure? It's the future, bearing relentlessly down upon you. While many PC gamers are still without DirextX 10, thanks to its Vista-only segregation, word on the PC tech streets (in this case, Graphics Whore boulevard) is that DirectX 11 will be announced by Microsoft later this…


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Equipment upgrades, staff rewards are top choices for $10,000 cash prizes
TORONTO, Nov. 8, 2012 /CNW/ - Upgrading equipment, rewarding staff and thanking customers are among the top things small business owners would invest in if they had some extra cash, according to early entries in ADP Canada's recently launched Small Business Grant Contest.
The company is giving six entrepreneurs $10,000 cash plus payroll services for a year. One winner will be chosen each month for six months starting in December.
Entering the contest is easy. Entrepreneurs share their business story and describe what they would do with $10,000, and then invite their customers, employees, friends and family to show their support by voting for their submission online.
The human capital management company launched the contest earlier this month as a way to show support for small businesses.
"Canada's small businesses are this country's economic engine and we wanted to demonstrate our support in a tangible, meaningful way," said David McIninch, Vice President, Marketing, ADP Canada. "We've had a great response since we launched the contest, and we're excited to see the range in the types of companies entering and the incredible passion they bring to their work".
The Small Business Grant Contest is open to Canadian business owners with 1- 49 employees, and runs from October 1, 2012 to March 31, 2013. A winner will be announced each month.
For more information, including full contest rules and conditions and to enter, visit adp.ca/grant.
About ADP Canada
ADP Canada Co. is a leading provider of human resources, payroll and benefits solutions that power organizations to drive business success. For more information about ADP Canada or to contact a local ADP Canada sales office, call us at 1 866-228-9675, visit us at adp.ca or follow us on Twitter @ADP_CDA.
SOURCE: ADP Canada
For further information:


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COMMENT: The phrase "weakest for six years" is starting to crop up a bit too often for comfort in surveys of business and consumer sentiment.
This week's quarterly survey of business opinion (QSBO) from the New Zealand Institute of Economic Research found that a scant net 0.4 per cent of firms reported increased demand for their goods or services over the past three months, the weakest reading for six years.
It is consistent with economic growth slowing to around a 2 per cent annual pace, from the 2.8 per cent GDP growth recorded in June. That would be at odds with the consensus among economic forecasters, reported three weeks ago, which has growth picking up to around an average 3 per cent pace over the next couple of years.
The survey's weakest reading — "headline" business confidence, or firms' view of the general business situation over the coming six months — is at a net 30 per cent negative, back at levels last seen during the depths of the recession in 2009.
That can safely be ignored. It reflects no more than business leaders' tendency to look at the economy through blue-tinted spectacles.
• Brian Fallow: Jacinda Ardern is right - this gloom is misplaced
• Brian Fallow: NZ running faster, but productivity falling behind
• Brian Fallow: US economy v NZ - why the winner isn't who you think
Over the nearly 50-year history of the QSBO, their view of the economy has run some 20 percentage points darker than their view of their own firms' prospects. The gap is markedly wider (about 30 percentage points) when Labour is in power than National, regardless of how the economy is actually doing.
But usefully, NZIER this time asked businesses what they saw as the key issues affecting the general business situation over the next six months. They were allowed more than one.
Government policy was most often cited, especially by respondents who consider the general business situation is getting worse.
But labour costs, consumer confidence, the availability of labour and profit margins were all selected by half or more of the respondents.
Unsurprisingly, labour costs were the most important factor for manufacturers and builders, while consumer confidence was the most important for retailers.
When it comes to the questions about which respondents are authoritative — their own experience and intentions here and now — the survey found a continuing deterioration in profitability and a higher proportion of firms reporting their costs had increased than their selling prices.
Firms' reported hiring over the past three months lurched lower, again to a six-year low.
If that is reflected in the "hard data" (Statistics NZ's labour market report due in a month) it will be a stark departure from the recent trend of strong employment growth — 3.7 per cent over the year ended June 2018.
Meanwhile, the Westpac McDermott Miller quarterly survey of consumer confidence also fell sharply in September, to its lowest level in six years.
A net 5 per cent of households expect their own financial circumstances to deteriorate over the next year, the lowest reading — outside of actual recessions — for that indicator in the history of the survey.
The associated survey of employment confidence found that the number of households expecting their earnings to increase over the coming year is languishing at the sorts of lows last seen during the financial crisis, Westpac says.
Yet the QSBO continues to report readings for the difficulty of finding skilled workers at levels which would point — if history is any guide — to wage increases at rates not seen since the recession.
The net balance of firms saying they expect to increase investment in plant and machinery is barely positive, though that still puts it ahead of the long-run average for that indicator. The rear view mirror — in this case, June quarter gross domestic product data — showed business investment in plant, machinery and equipment 7 per cent ahead of the same period last year.
The key finding from this survey is the confirmation that the negativity in business sentiment is not being driven primarily by expectations of weakening demand.
Firms' expectations of demand for their wares over the coming three months are more optimistic than their reported experience of the past three and, at a net 10 per cent positive, held up at a level not too far short of the long-run trend for that indicator (a net 15 per cent positive).
The Bank of New Zealand's head of research, Stephen Toplis, takes the glass-half-full view: "For us the key finding from this survey is the confirmation that the negativity in business sentiment is not being driven primarily by expectations of weakening demand. Rather it is a combination of rising input costs and frustration with both Government policy and the inability to find staff that is putting confidence under pressure.
"This being the case, one would expect business sentiment to be a less effective indicator of activity than it might have been in the past." Toplis does, however, see it as a harbinger of mounting inflation, pointing not only to the reported tightness in the labour market, but also the fact that a net 44 per cent of respondents reported their costs rose in the quarter, the highest for 10 years. "Businesses cannot accept falling margins forever."
So he does not expect the Reserve Bank to be lowering interest rates any time soon. "We would not go so far as suggesting they will be tightening either, but feel that the possibility should not be discounted."
ANZ economist Liz Kendall, on the other hand, expects firms to pass on cost increases like higher fuel prices cautiously and for it to have only a transitory effect on inflation.
She sees the QSBO as consistent with softening in GDP growth and as casting doubt on the Reserve Bank's expectation in the August monetary policy statement that annual GDP growth will accelerate form here and as providing a timely reminder that official cash rate cuts remain a distinct possibility.
Westpac economist Anne Boniface think the QSBO will have done little to assuage Reserve Bank concerns that downside risks to the growth outlook remain and will leave it comfortable with its dovish view on the outlook for monetary policy.
ASB economist Jane Turner said the business confidence figures were concerning. "But they are not hard data," she said.
"If the growth and employment figures released over the rest of the year are consistent with soggy business confidence, we see it becoming increasingly likely that the Reserve Bank will pull the trigger and possibly cut the OCR early next year."
What's the worry?
Top 5 issues affecting the general business situation (in order)
• Govt policy
• Labour costs
• Consumer confidence
• Availability of labour


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On Saturday, November 26, DC residents will kick off the holiday season at the Third Annual CityCenterDC Holiday Tree Lighting. This annual event will feature an entire evening of holiday fun, including the official tree lighting ceremony that will light the city skyline with a stunning 75-foot Christmas tree covered in twinkling lights.
During the CityCenterDC Holiday Tree Lighting, residents will also enjoy a holiday-themed concert and countdown to the tree lighting. People of all ages can enjoy face painting, balloon artists, jugglers, and other holiday activities, as well as 25-foot reindeer. You'll also admire the brand new Palmer Alley overhead holiday display, which stretches three full city blocks. Once your Thanksgiving festivities are through, get in the holiday spirit at this fun, all-ages community event!


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After 23 years in the field, there isn’t much that Kristin Bevens hasn’t seen in the world of hourly staffing of warehouse labor. She’s seen worker wage rates fall and stay in the toilet during the 1990s and 2000s. She saw them recover about a decade ago and rise dramatically with the dawn of e-commerce and warehouse fulfillment demand. She then saw them soar during the pandemic as goods ordering crested and seemingly everyone ordered from home.
As the economy moves to the back side of the pandemic, wage rates have stabilized, but not by much. Demand remains very tight in virtually every market and shows no sign of letting up. Hourly wages, though plateauing, remain historically strong as well, said Bevens, who is vice president, national partnership program and operations team, at EmployBridge, one of the largest logistics hourly staffing firms in the country.
Whereas her clients would hire 20 to 100 people to cover daily shifts — one client during the pandemic hired 2,000-5,000 workers at one site at one time — today they would hire five to 10 people a day. There are also fewer sign-on bonuses, Bevens said.
“There’s not the frenzied level that we saw back then,” she said.
Still, there’s little chance things will return to the era of the mid-decade, not with the post-pandemic warehouse environment where it currently lies. Full demand for warehouse space translates into increasing demand for workers, barring the unlikely event of technology replacing almost everyone.
Workforce participation rates are strong in almost every city that EmployBridge canvasses. In Louisville, Kentucky, an unusually strong market, of a workforce of 681,000 only about 20,000 workers were available, her data showed.
“There are just so many choices out there” in terms of employment opportunities, Bevens said in a phone interview earlier this month.
Hiring on the national level has plateaued as well. According to the Bureau of Labor Statistics, warehousing and storage hiring dropped about 12,000 jobs in March. Employment in warehousing and the larger transportation classification has shown little net change in recent months, the BLS said.
Work wages vary depending on skill set, Bevens said. Warehouse pickers generally receive between $16 and $17 an hour. On the other end are lift truck operators at around $18 to $23, depending on the degree of work difficulty.
Brian Devine was a top EmployBridge executive before running a Columbus, Ohio-based company called Ignite Industrial Professionals, where he performs similar work in Ohio. He agreed that pay rates have stabilized in the Columbus and Dayton areas. Yet a chart showing average hourly wages from 2022 through 2022 indicates how far labor wages have risen in the past decade. It’s important to note that the data from 2022 is just for December’s activity, Devine said.
In general, wage rates have dropped between 50 cents and $1.50 an hour in recent months. At one time in proxy markets like Phoenix, Amazon.com. Inc. came into the market and offered as much as 35% higher wages than everyone else. With the company pulling back on staffing along with warehouse scope, today Amazon pays less than the prevailing market rates for forklift operators in Phoenix, according to Bevens.
Still, Amazon generates tremendous interest from hourly workers because of its generous benefits structure and the perks that come with being the biggest boy on the block,” she said. The drop in rates doesn’t deter people from showing up to work there.
Amazon is not the only company to manage this, said Bevens. “Some clients are able to offer a lower wage and get away with it because of the other qualities they bring to the table,” she said.
Wages are still the most important factor for accepting hourly warehouse worker jobs. However, wage increases have their limits, Bevens said. For workers at a certain wage level, another $1 or less an hour will not persuade them to jump ship. “Pay rates are already at a level playing field,” she said.
Competing for scarce, in-demand labor takes more than competitive hourly wages, regardless of their importance. Folks queuing for hourly work want flexibility and balance in their lives. They want to see more prevalent use of technology to help them with their work. “People are having to adjust to the workforce need and not the other way around,” she said. “Hourly employees want life to drive the work,” she said.
It’s happening, but maybe not fast enough. “Employers need to start looking at the work differently,” Bevens said. “We need to look at the work from the employee’s point of view.”
The savvier companies are making granular but important changes — for example, adding more time off for each available shift. “These bigger breaks make a difference,” she said.
Or starting a shift after the local school day starts so parents can drop off their children and still have time to head over to work. The latter approach has become commonplace because of its popularity with staffers, she said.


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Several local Rotary Clubs are participating in a project to donate 280 wheelchairs to individuals and hospitals in Guatemala.
The project previously took place in February 2015, when six members of the Abbotsford-Sumas Rotary Club assembled and delivered 280 wheelchairs to Guatemala City and Antigua.
The items were purchased by the club’s partner Inspired by Vision (Grand Prairie), the Rotary Club of Chilliwack and the Rotary Club of Abbotsford.
Several Rotary members will return to Guatemala in February 2017 to assemble and deliver another 280 chairs.
The same groups are participating in this endeavour as in 2105 and are joined by the Rotary Club of Abbotsford-Matsqui.
The wheelchairs are crafted to be extra durable and to endure the harsh terrain of rural roads.
Thanks to the Canadian Wheelchair Foundation, these special wheelchairs can be delivered anywhere in the world at a cost of $195 per chair, compared to the retail value of $600.
To donate to the cause, contact Dr. Ron Lewis at email@example.com or Mike Adkins at firstname.lastname@example.org


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To the chagrin of U.S. credit card issuers, the Consumer Financial Protection Bureau (CFPB) has
proposed rules prohibiting mandatory arbitration clauses. The CFPB says these widely used clauses leave consumers with no choice but to seek relief on their own – usually over small amounts.
Through the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress required the CFPB to study the use of mandatory arbitration clauses in consumer financial markets. Congress also gave the Bureau the power to issue regulations that are in the public interest, for the protection of consumers, and consistent with the study.
Released in March 2015, the CFPB’s study showed that very few consumers ever bring – or think about bringing – individual actions against their financial service providers either in court or in arbitration. The study found that class actions provide a more effective means for consumers to challenge problematic practices by these companies. According to the study, class actions succeed in bringing hundreds of millions of dollars in relief to millions of consumers each year and cause companies to alter their legally questionable conduct.
The study showed that at least 160 million class members were eligible for relief over the five-year period studied. Those settlements totaled $2.7 billion in cash, in-kind relief, and attorney’s fees and expenses. In addition, these figures do not include the potential value to consumers of class action settlements requiring companies to change their behavior. However, where mandatory arbitration clauses are in place, companies are able to use those clauses to block class actions.
The Consumer Federation of America (CFA) urged members of the Senate Committee on Banking, Housing and Urban Affairs to pay particular attention to the harm caused by abusive products and practices and support the Bureau’s work to make the financial marketplace fair and transparent.
The National Consumers League (NCL) says the CFPB’s action is a welcome response to these odious forced arbitration clauses found in the vast majority of consumer contracts. These clauses remove consumers’ right to hold companies accountable when they have engaged in corporate wrongdoing and are especially unfair when they limit class actions.
Consumer Action commended the CFPB for taking this crucial step to limit big banks’ and other financial companies’ efforts to escape accountability for breaking the law, and urges the agency to use the full force of its authority to restore consumers’ right to choose how to resolve disputes with financial institutions in this, and every, context in the final rule.
There is a 90-day comment period before the rule goes into effect.
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