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Asia HNWIs hunt for bitcoin gains
Asia’s wealthy investors and family offices are becoming interested in digital currencies, but are unlikely to invest heavily until regulations governing them solidify, according to industry experts.
Positive and negative headlines around bitcoin, the largest of the existing cryptocurrencies, has gained the attention of high net worth investors. They have also been interested in blockchain—the electronic multi-ledger technology underlying digital currencies, said observers.
“We are seeing some interest in bitcoin, ether and [cryptocurrency firm] Ripple among investors, especially as cryptocurrencies are a hot topic in the press,” Andrew Wong, Singapore-based business development director at Wealth, a platform that connects investors with wealth service providers, told AsianInvestor.
Adeline Tan, head of wealth advisory at Mercer in Hong Kong, noted that some Asian family offices are looking at how to indirectly access digital currencies.
“Some investors, open to the idea of virtual currencies, are accessing the idea by investing through hedge funds that can make bets on cryptocurrencies, among other types of niche investment ideas,” she said.
Other HNW individuals have been willing to directly invest. An investment expert with a multi-family office in Singapore speaking on the condition of anonymity said some individuals had made money by buying bitcoins.
“Bitcoin might be extremely volatile but it is still one of the better performing assets out there,” he told AsianInvestor.
The pioneer cryptocurrency has undergone some wild performance swings since launching in 2009. In the 12 months to September 28, the value of a bitcoin soared an eye-popping 592% to hit $4,206.6, according to Coinmetrics.
It’s not been a steady climb. On September 1 bitcoin’s value hit a calendar year high of $4,852, before plunging to $3,226 on September 14, after JP Morgan boss Jamie Dimon criticised bitcoin as being nothing short of a “fraud”.
The growing appeal of bitcoin has offered opportunities for daring investors to try and make money, either through capital appreciation or arbitrage. A September 20 report by the Australian Financial Review reported that Australia’s top hedge fund, Warburton Global Macro Fund, made an (unspecified) tidy profit trading the spread between bitcoin prices in North America, Europe and Asia in a six week period between July and August.
Cryptocurrencies outside of bitcoin are also gaining more investor support across the world, with hundreds of the electronic currencies being traded each day.
A global cryptocurrency benchmarking study published in May by the Cambridge Centre for Alternative Finance noted that bitcoin is the largest digital currency by market cap, followed by Ethereum, Dash, Monero and Ripple.
Yet the combined market capitalisation of all cryptocurrencies remains quite small—about $146 billion, according to CoinMarketCap.com.
In contrast, the gold market’s value is estimated at around $7 trillion, according to onlygold.com (based on current gold spot price of $1,271 per troy ounce).
The relatively small and illiquid market for digital currencies means that an investor with large sums of money can impact the price quite heavily, said John Patrick Mullin, the Shanghai location co-ordinator for FinTech Connector, an online platform that connects fintech entrepreneurs and financial services experts.
And while the price volatility of the currencies attracts speculative retail investors, it is keeping many wealthy investors on the sidelines.
“Investors who are investing in cryptocurrencies are not making huge bets or allocating large portions of their portfolios to such assets,” added Mullin.
Many market analysts believe most digital currency investments are speculative and should fall in the high-risk, high-return portion of an investor’s portfolio.
Neverthless, it represents an improvement from the time cryptocurrencies were mostly an area of intellectual curiosity, according to some experts.
“Today, the increasing interest from both individuals and institutional fintech investors is hard to ignore, especially as they try to find ways to participate and gain exposure to the growth in this market, via channels ranging from passive, active and even algo-driven investment products,” said the managing director of Orichal Partners, a recently founded multi-strategy cryptocurrency investment firm in Hong Kong. He declined to be named.
The popularity of cryptocurrencies in the future with investors of all types is likely to depend on how regulations evolve to monitor them.
Currently, financial watchdogs in many countries worry about the safety and security of using digital currencies. Regulators in Singapore, Malaysia, Hong Kong and Australia have all issued warnings about dealing in cryptocurrencies as well as initial coin offerings (ICOs), which allow firms and individuals to raise funds by effectively offering electronic tokens.
One of the biggest regulatory blows in recent times came in early September when China announced a ban on ICOs. Korea followed on Friday (September 29).
The regulatory crackdown has dampened the near-term outlook for cryptocurrencies, but some proponents believe that deliberation by financial regulators will be a long-term positive for the industry.
“Just like the internet dot-com age, inferior cryptocurrencies will be eliminated over time purely due to competition and tightening regulations,” the Orichal Partners executive said.
He says the ICO ban simply reflects China’s desire to proactively manage risks to its financial system.
“China is regulating cryptocurrency as with any disruptive industry—we don’t think China is trying to stifle innovation at this point and blockchain technology will not go unnoticed.”
Disruption to legitimisation
Many financial technology experts argue that cryptocurrencies and the technology supporting them will cause enormous change in financial markets.
FinTech Connector’s Mullin believes blockchain will be the next big technology to catch on in the digital space. The technology functions as a tamper-proof public ledger that can automatically process and settle transactions with no need for a third-party verification. Its use is steadily spreading to other industries, and Mullin believes that investors looking at the technology now can become the early adopters.
Sebastiaan Van Den Berg, chief investment officer at Sun Hung Kai, a property developer, also believes cryptocurrencies—and blockchain—are likely to disrupt parts of the financial services industry. He said this will lead regulators to play a more active role in their oversight as a result.
"Will cryptocurrencies change the way things are being done, or will they need to be transformed and managed so they function within the existing operating and regulatory environment?" he told AsianInvestor. "I don't have the answer but I would be very surprised if governments just let it happen."
Siddharth Agarwal, a lead financial analyst at GlobalData, a data solutions and research consultancy, shares similar views. In a note on Monday (October 2) he said he thinks regulators will formalise the rules around bitcoin and other cryptocurrencies, “bringing them closer to national currencies and leading to even wider acceptance”.
The increasing regulation is intended to check money laundering, terrorism financing and other illegal activities by discouraging use of bitcoin purely for the anonymity it offers. Agarwal said that such regulation will likely have a positive impact on the fledgling cryptocurrency industry.
"As the regulatory environment is now stabilising, we will see massive growth in startups dealing with bitcoin and other cryptocurrencies," he said.
Richard Newell contributed to this story.


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The United States and Togo to co-host AGOA on August
By Houmi Ahamed-Mikidache
The United States of America and Togo will co-host the African Growth and Opportunity Act (AGOA) Forum in Lome, Togo from Aug. 8-10. Senior government officials from the US and 38 Sub-Saharan African countries will discuss how to boost economic cooperation and trade between the US and Africa.“Patnering for prosperity through Trade” will be the theme of this event.
According to a press release, the 2017 Forum will explore how countries can continue to maximize the benefits of AGOA in a rapidly changing economic landscape, and highlight the important role played by women, civil society, and the private sector in promoting trade, expanding inclusive and sustainable economic growth, and generating prosperity. Since 2000, the US government works on AGOA with sub-Saharan Africa. Following the AGOA law, a special Forum has to be convened each year to analyze issues related to the implementation of the law and issues of economic cooperation and trade.
In the past few years AGOA forum was organized in Mauritius, Ghana, Senegal, Kenya, Zambia, Ethiopia, and Gabon. This year, the forum will be led by U.S. Trade Representative Ambassador Robert Lighthizer and include senior officials from the U.S. Departments of State, Agriculture, Commerce, Energy, Labor, Transportation, Treasury, the U.S. Agency for International Development, the U.S. Trade and Development Agency, as well as the National Security Council, Millennium Challenge Corporation, the Overseas Private Investment Corporation, the Export-Import Bank, the Small Business Administration, and the United States African Development Fund. Members of Congress from both parties will also attend the Forum.

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Famed British street artist Banksy created a pandemic-inspired piece inside a London train car that may be the artist encouraging followers to wear a mask—but London transport cleaners removed the paint almost immediately without realizing it was by Banksy, the BBC reported.
A work being called “If You Don't Mask, You Don't Get,” was painted on the inside of a Central Line train as it made its way through Central London, going by the announcements heard on a video Banksy posted Tuesday on his Instagram page.
The video features a man who may be the artist, who famously keeps his identity hidden, wearing a custodian’s disguise and shooing away suspicious Tube riders while he spray paints rats, Banksy’s tell-tale identifier.
The rats in the video were shown sneezing, using face masks as parachutes and holding what appears to be hand sanitizer, and Consequences of Sound, an online magazine, pointed out that the shade of blue used in the work closely resembles the color of many face masks.
However, Bansky’s fame wasn’t enough to keep the work up: while a source told the BBC the cleaners who removed the spray paint weren’t aware it was by the artist, it may not have mattered.
"It was treated like any other graffiti on the network,” the BBC quoted a Transport for London source as saying. "The job of the cleaners is to make sure the network is clean, especially given the current climate.”
However, TfL told the BBC in a statement that it was appreciative of Banksy’s call for face masks, saying they will offer the artist an opportunity to paint a similar work “in a suitable location.”
Banksy’s face mask piece came just as England announced a new country-wide mandate to wear face coverings in more public spaces. On Tuesday, Health Secretary Matt Hancock said covering one’s face would be required in both shops and grocery stores. Punishment for not wearing one when mandated could result in fines as much as roughly $125. Face masks on public transportation, like the London Underground, have been required since mid-June.


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Retail parks see footfall boost in January
Retail parks saw growth in footfall in January, but they were the only destination to see an increase.
According the BRC-Springboard Footfall and Vacancies Monitor, footfall in retail parks rose by 0.9 per cent in January.
The South-East and West Midlands saw the strongest growth in this destination, at four per cent and 3.3 per cent respectively.
However, footfall overall decreased by 1.6 per cent year on year, which was a deeper fall than January 2017 at 1.3 per cent and the worst result since January 2013.
High street footfall fell by 1.9 per cent in January, a sharper decline on the 0.8 per cent seen in the same month last year.
Shopping centres saw a drop of 3.1 per cent in footfall in January, deeper than the three-month average of 2.8 per cent.
All regions experienced a drop in footfall for January, with the sharpest declines seen in Scotland (4.6 per cent), the South-West (2.6 per cent), and the East (2.5 per cent).
The decline in Greater London eased falling just 1.2 per cent, compared with the 3.7 per cent drop seen in December 2017.
The national town vacancy rate was 8.9 per cent in January 2018, down from the 9.3 per cent seen in October 2017. This was largely down to reduced vacancy rates for Greater London (5.6 per cent down from 7.1 per cent in October), Northern Ireland (14.3 per cent down from 15.2 per cent), and Scotland (9.2 per cent down from 10.5 per cent).
British Retail Consortium chief executive Helen Dickinson said: “January painted a picture of divided fortunes with a slight improvement in town vacancy rates but decline in shopper footfall. The latter fell in line with the underlying trend of reduced customer activity in shopping destinations, compounded by the squeeze on discretionary spending. Meanwhile retail sales continue to be buoyed by inflation, masking the lack of real growth.
“The more positive picture for vacancy rates over the last quarter is marginal. The Christmas trading period traditionally sees a boost in temporary lets, as landlords get creative with the flexible use of space to create pop-ups. This was particularly evident in London this year due to its denser physical retail offer. The long-term trend is that vacancies remain stubbornly at around nine per cent, albeit much higher in many areas.
“If we look beyond the seasonal distortion, the pressures to rationalise and downsize store portfolios are continuing to build as structural and technological change gains momentum. Given that planning applications for new shops have fallen for the ninth year in a row, the mounting cost of property taxation will inevitably mean more empty shops on the high street.
“Retailing is about digital and face-to-face interactions with customers and how the different channels complement each other. Having a business tax system that works to support that, not undermine it, is what the country needs and what we remain committed to work in partnership with Government to deliver.”
Diane Wehrle, Springboard marketing and insights director, commented: “A drop in footfall of 1.6 per cent is an improvement on December’s 3.5 per cent, but it is the worst result for January since 2013. So it is clear that the challenges facing bricks-and-mortar retailing are continuing to build – the 1.9 per cent decline in high street footfall is more than double the 0.8 per cent in January 2017 and shopping centre footfall continues to languish at 3.1 per cent following a drop of three per cent in January last year.
“In contrast, activity in retail parks continues to grow, with a shift in footfall from a 0.4 per cent fall in January 2017 to 0.9 per cent growth this January; despite furniture and household appliance sales in January being the worst of all 13 categories. Retail parks clearly now fulfil a wider role for shoppers; yes, they are convenient and functional shopping locations, but are buoyed by the continuing growth in online spending. Not only are they efficient click-and-collect points, but their attraction is enhanced by a wider offer, embracing hospitality. Herein lies the lesson for stores in urban locations of high streets and shopping centres; their longevity is contingent upon their ability to embrace all steps of consumers’ path to purchase, which implicitly necessitates a first class click-and-collect experience.
“While footfall dropped, the vacancy rate strengthened over the quarter to 8.9 per cent from 9.3 per cent in October, but caution is needed in reading too much into this, as it reflects short-term occupier demand in the lead up to Christmas and is a trend that replicates previous years.”


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Agricultural exports fetch Iran $5.7 billion
Iran exported 5.81 million tons of agricultural products worth $5.686 billion in the past Iranian calendar year 1395 (March 2016-March 2017, Deputy Agriculture Minister Abdolmahdi Bakhshandeh said on Wednesday.
The exports showed a 21.77 percent increase in terms of weight and a 3.61 percent growth in terms of value year on year, IRNA quoted Bakhshandeh as saying.
The agriculture sector held a 4.48 percent and a 12.97 percent share of the country’s total non-oil exports in terms of weight and value, respectively, he explained.
Pistachio, tomato paste, and saffron were the main items exported last year, he noted.
Meanwhile, imports of agricultural products in the said time span dropped by 5.78 percent in terms of weight and by 1.15 percent in terms of value in comparison with year 1394, the official noted.
Iran’s non-oil trade reached $87.646 billion in the past Iranian calendar year, an increase of 4.34 percent compared to its preceding year.
Non-oil exports stood at $43.93 billion, showing 3.54 percent rise year on year, while the imports hit $43.684 billion, registering 5.16 percent growth compared to the previous year.


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Crestwood Court owners are looking to present a mall redevelopment plan in the next six months and break ground in one to two years.
Jones Lang LaSalle Vice President/General Manager Tony Stephens, whose firm manages the shopping center, confirmed that mall owners Centrum Properties and Angelo, Gordon & Co. are working with that redevelopment timeline. The companies purchased the mall in March 2008 from the Westfield Group with the goal of redeveloping it into an open-air, lifestyle center.
“We are moving forward with architects and engineering firms to try to get a plan in place,” Stephens said. “… We’re looking at various options and various layouts and trying to understand the best uses.”
Jones Lang LaSalle marketing manager Leisa Son last summer revealed to the Crestwood Economic Development Commission that the mall’s redevelopment could include a streetscape quality similar to the Promenade in Brentwood. This would open such possibilities as retail and restaurants and also an entertainment center that could be used for activities and possibly outdoor concerts.
Stephens said the redevelopment plan still likely will include that open-air component and also could feature a recently initiated Crestwood Court project — a local artists’ colony.
The Crestwood mall and the Regional Arts Commission have teamed up to offer vacant retail space to artists, musicians and performance groups. Groups can sign one-year leases with the option for a second year.
“The concept has been very welcomed by the art community and by our trade area and actually by probably the entire metro St. Louis area,” Stephens said. “So, it is something that we are looking at in some fashion of incorporating in the redevelopment. Although, it’s far too early to tell what extent that will take.”
City officials previously have indicated that they would consider offering such economic-development tax incentives as tax-increment financing, or TIF, to ease the owners’ costs of the mall’s redevelopment.
That cost would be eased through the collection of an additional sales tax imposed on the mall property. In a TIF district, tax receipts for school districts, fire districts and other taxing entities are frozen at existing levels for the length of the TIF — up to 23 years. As land within the TIF district increases in value, the incremental tax revenue — 100 percent of property taxes and 50 percent of sales and utility taxes — is used to retire the TIF obligation.
In the meantime, mall management and city officials are preparing for the scheduled April 1 closing of Macy’s. Macy’s Inc. announced Jan. 8 that it would be closing 11 “underperforming” stores, including the Crestwood location. The Macy’s closing will leave Crestwood Court with one anchor store — Sears. The mall already has sustained the loss of Dillard’s, which closed its doors in October 2007.
Besides laying off 176 employees at the Crestwood store, the Macy’s closing is expected to result in estimated sales-tax revenue drops of $181,000 in 2009 and $350,000 in 2010, according to Eckrich.
To combat this loss of revenue, aldermen in recent weeks have followed through on Eckrich’s recommendation to cut $237,900 from the city’s 2009 budgeted expenses of roughly $13.7 million. Aldermen in December approved a 2009 budget authorizing the use of more than $600,000 in re-serves to balance it. The city had an estimated $3.4 million in cash reserves across all three of its major funds as of Jan. 1.
With an unscheduled debt payment of $895,000 this year along with the loss of sales-tax revenue, Ward 3 Alderman Jerry Miguel last week asked city officials to find a minimum cash-balance requirement that would still allow the city to function.
“What can we allow our cash to get down to … without putting our city at risk?” he said Jan. 27. “We also need to consider we just recently lost an anchor. But we are still at risk of losing … we’re always at risk of losing an anchor. So in trying to establish a minimum level of cash that we should target to have on hand, what should that number be taking into consideration that we are at risk of further loss of sales-tax revenue either through loss of an anchor or now particularly in view of the economic conditions that we find ourselves in as a city and as a nation? I don’t recall an economy like this in my lifetime.”
Eckrich replied that he and Finance Officer Douglas Brewer have discussed finding a minimum cash balance and that the sum should be defined in the near future.
“It’s on our list,” Eckrich said to Miguel. “We’ve debated the matter amongst ourselves. I don’t have an answer for you at this time. But it is something the city needs to define. I absolutely agree with you.”


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Snappy Shopper hires marketing veteran
Snappy Shopper, the mobile app and web-based convenience store home delivery platform, has appointed ex-Spar and Nisa marketing veteran Philippe Rondepierre as marketing director.
Mr Rondepierre’s (pictured) wide-ranging experience in the convenience retail and wholesale sector spans nearly 30 years.
He was head of marketing for Spar UK for just under four years, and began his career with another Dundee company, the Spar delivered wholesaler CJ Lang.
At Nisa, Mr Rondepierre has been responsible for all online and offline marketing, including the Nisa media hub, which enables suppliers to optimise the alignment of their brand and marketing plans to Nisa’s seasonal programme of trading and marketing activities. The hub has experienced a significant increase in activity under Mr Rondepierre’s tenure.
He also sat on the central office leadership team at Spar and led the group’s selling plan, one of four key pillars of the Spar UK strategy and which helped drive an upturn in like-for-like footfall for the organisation.
Chief executive Mark Steven said: “Philippe has a wealth of experience in the convenience retail sector spanning many years so he understands the dynamics of the fast-paced and ever-evolving marketplace that Snappy Shopper inhabits.
“He has an impeccable pedigree and outstanding track record when it comes to implementing strategy and tailoring marketing activity to achieve the best possible results – his role will be instrumental as we move into the next phase of our growth which has seen Snappy Shopper grow from a small base last year to national coverage today.”
Mr Rondepierre will take up his role in September.


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Corsicana Mattress Co. will host a ribbon cutting for its new La Porte County factory March 16.
Bill Champion of Fracto Inc. in Francesville is the 2022 chair of the Indiana Manufacturers Association board of directors.
Several organizations and individuals from Northwest Indiana received an assortment of awards and recognition.
Martin’s Super Markets, owned by Michigan-based SpartanNash, is offering free delivery on all online Martin’s Groceries-To-Go orders exceeding $35.
Electric Last Mile Solutions named a new chief executive and non-executive chairman after an investigation uncovered potential securities law violations.
Companies or individuals with an idea to develop an app or technology for business use can sign up for state assistance.
A ceremonial ribbon cutting at Corsicana Mattress Co.’s new La Porte County facility has been rescheduled for March 16.
Surf Broadband Solutions, a fiber internet provider, has expanded its executive leadership team.
Hammond Machine Works is enhancing its Region-based capabilities.
Sullair has purchased its Salt Lake City-based distributor, Compressor-Pump & Service.


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The price of supermarket fuel is to fall, providing motorists with some good mid-winter news.
Asda and Tesco are both reducing their petrol and diesel prices by up to 2p a litre from tomorrow.
Asda, the first to announce a cut, said that from tomorrow motorists would pay no more than 126.7p a litre for petrol and 133.7p a litre for diesel.
It added that its diesel would now fall to its lowest price since July 2012.
AA president Edmund King said: "Fuel price reductions at the pumps will bring a sigh of relief to many drivers who are struggling to make ends meet after bigger than normal financial outgoings during the festive period.
"We hope that other supermarkets and fuel retailers follow the lead of Asda and Tesco to cut their prices at the pumps otherwise we just end up with a fuel-price lottery based on proximity to certain supermarkets."
RAC external affairs head Pete Williams welcomed the reductions and said that if they were matched around the country prices would fall to their lowest since February 2011.
He went on: "This will no doubt have a positive effect on the economy too as well as lessening the social impact that high fuel prices have on people's personal lives."


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For its 2nd edition from June 8th to 10th, Cambodia Architect & Decor will welcome 150 local and international brands to showcase their latest innovations, seek new opportunities and exchange on the growing importance of design in Cambodia’s booming construction market. The event will also host an educational seminar, a student design competition and a networking architect dinner, in addition to the exhibition.
Phnom Penh, May 18th, 2017
A must-attend event for architects, interior designers, property developers and construction professionals.
From June 8th to 10th 2017, Cambodia Architecture & Decor Expo will settle once more at Diamond Island Convention & Exhibition Center (Koh Pich). This unique trade show will gather architects, interior designers, property developers and building professionals to exchange about the latest innovations and trends in the sector. “We created Cambodia Architecture & Decor Expo to help professionals engage with targeted potential customers, meet new contacts and identify new opportunities on the market.” says Ajinveat Vhongthong, project manager from ICVeX, the expo organizer. “According to our survey from last year’s show, over $18 million business was expected to be generated from the exhibition in 2016”.
A support to Cambodia’s booming construction industry
In 2016, $8.5 billion worth of development projects have been approved in Cambodia. This intense growth leads to a rising demand in architecture and interior design. “We first created this event in 2014 in Myanmar, and it was a great success” develops Mr. Vhongthong. “We know that this platform can highly benefit to Cambodia. Our exhibitors, of which 70% are international, will showcase best-in-class innovations and products”.
For example, Thai company SCG will be presenting eco-friendly building material products on its 210 square meters booth and visitors will be able to receive in-depth advice from SCG experts. Visitors will also get the chance to discover Gio Home Kitchen first water proof kitchen furniture, Modernform’s customizable desks and ergonomic chairs, the first launch of Fibreglass Translucent Roofing Sheet by Ampelite, and much more.
An educational opportunity for Khmer students
To organize this expo, ICVeX has partnered with Cambodia Society of Architects (CSA) and together they will welcome among the most eminent local and international speakers. Among other conferences, Mr. Tim Beaumont - CEO of The Beaumont Partnership - will be sharing insights about the projects he developed in Southeast Asia and Mr. Adrianta Bin Aziz, from Malaysia Institute of Architects, will elaborate on the importance of continuing professional development. Other topics will include the development of Phnom Penh city, challenges encountered when developing Boreys or future Cambodian architects and designers. CSA will also take this opportunity to organize the CSA 2017 Design Competition that rewards the best ideas in Arts & Architecture in Cambodia. Selected candidates will be put on display during the expo and the award ceremony will take place during the Architect Networking Dinner on June 8th . Practical information 8-10 June 2017, 9AM to 7.30PM Diamond Island Convention & Exhibition Center (Koh Pich), Phnom Penh Free admission More information and full program available on www.cambodiaarchitectdecor.com
Find the best real estate news on Realestate.com.kh


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According to the Lumina Intelligence UK Eating Out Market Report 2021, in the 12 WE 11.07.2021, average spend per consumer per visit increased +3.9% from £9.01 to £9.36.
Over half of the UK adult population had an eating or drinking out occasion as restrictions eased across the UK during July. The proportion of UK consumers who had an eating out occasion increased to a peak of 52.2% over the 12 weeks to the 11 July.
Increased spend comes as ending 11 July as higher spend channels including restaurants and pubs & bars grew share. Versus the 12 WE 18.04.2021, pubs and bars saw its share of UK eating out occasions rise from 3.8% to 12.5% and restaurants grew from 9.7% to 11.5%. In contrast, Quick service restaurants decreased in channel share by -10ppts – from 41.3% to 30.9%. This comes as on-premise purchasing was no longer limited to takeaway as lockdown restrictions were eased.
Restrictions easing also had a notable impact on delivery and click & collect. Delivery declined in share by 9.8ppts and Click & Collect declined by 5.7ppts as more consumers ate and drank out of home with increasing consumer confidence and sporting events including the EUROs bolstering occasions.
The report also highlighted that more consumers are identifying as non-drinkers (13%), with many choosing to opt for low to no alcohol beverages where possible and more identified as flexitarian or vegetarian in the latest quarter (37% in total). A higher proportion also identify as gluten free and dairy free (almost 7%).
Commenting on the results, Katherine Prowse, Senior Insight Manager at Lumina Intelligence said, “Positively for the UK hospitality industry, the easing of restrictions has shown signs of consumers returning to normality. Pubs, bars and restaurant are driving participation and spend, with delivery playing less of a pivotal role. This is something that we expect to continue to grow, particularly now that all restrictions have eased.”
“We are also seeing more spontaneity from consumers. ‘I was out and about (e.g. shopping)’ is now the second biggest reason for eating or drinking out. As town and city centres continue to open up, operators should see this as a great opportunity to generate incremental footfall and inspire consumers that may have not been considering eating out.”


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PARIS — The Consumer Goods Forum here said it has elected Gareth Ackerman of South African retailer Pick n Pay as co-chairman of the group.
He succeeds Lars Olofsson, the former chief executive officer of Carrefour , and will work with the existing co-chair, Muhtar Kent  of the Coca-Cola Co. In addition, two vice co-chairs have also been elected: Dick Boer , CEO of Amsterdam-based Ahold , and Bob McDonald , chairman, president and CEO of Procter & Gamble, Cincinnati.
Ackerman is non-executive chairman of Pick n Pay Stores, one of Africa’s largest retailers with operations in South Africa and several other African countries.
“We are delighted that Gareth Ackerman has been elected as our new co-chair,” said Jean Marc Saubade, managing director, CGF. “With an impressive background in retail and a focus on sustainable growth, he will play a vital role in bringing our member companies’ together to collaborate and implement programs that address the issues we face.”
CGF is a global organization made up of CEOs from retail and CPG companies that is focused on knowledge exchange and initiatives around five strategic priorities: emerging trends; sustainability; safety and health; operational excellence; and knowledge sharing and people development.


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- Analysts estimate adjusted EPS of $3.30 vs. $4.32 in Q2 FY 2021.
- Monthly active people (MAP) is expected to rise YOY, but at the slowest pace in at least three and a half years.
- Revenue is expected to decline for the first time in at least three years.
Meta Platforms Inc. (META), known as Facebook for its popular social networking site and brand, has faced a rapid deceleration in growth in its core social networking business in recent quarters. Coupled with intense regulatory scrutiny, this has prompted Facebook to adopt new strategies designed aimed at boosting engagement. The company recently announced plans to let users create up to five profiles for each Facebook account in an effort to boost sharing and posting. And Meta also is launching new monetizing features on Facebook and Instagram that will enable creators to make direct revenue and display non-fungible tokens (NFTs).
Investors will look closely at how these trends are affecting Meta's performance when the company reports earnings on July 27, 2022 for Q2 FY 2022. Analysts predict the company will post a sharp decline in adjusted earnings per share (EPS), and the first decline in revenue year-over-year (YOY) in at least three years.
Investors will also be focusing on a key Meta metric: monthly active people (MAP), which measures the size of the company's user base across its entire family of products. Although the company has recently shifted its focus to the metaverse, it is primarily a social networking company that operates multiple platforms. Meta's social media platforms and brands include Facebook, Instagram, Messenger, and WhatsApp. For Q2 FY 2022, analysts expect MAP to grow at the slowest pace in at least three and a half years.
Meta shares have significantly underperformed the market in the last year. After skirting the S&P 500 between July and September 2021, the stock dropped slightly and traded sideways through February 2022. Following Meta's Q4 FY 2021 earnings release that month, shares plunged and have yet to recover. Meta's stock has traded up and down mostly with the broader market in the last several months, but has been unable to stage a recovery. As of July 24, Meta shares have provided a 1-year trailing total return of -51.8%, well behind the S&P 500's return of -9.3%.
Facebook (Meta) Earnings History
Meta posted strong adjusted EPS growth during the pandemic in 2020 and 2021 as people sheltered at home and sharply boosted their use of social media. In FY 2020, adjusted EPS growth accelerated from 13.2% YOY in Q2 to 46.0% for Q4. In FY 2021, adjusted EPS nearly doubled in Q2 compared to the same quarter a year earlier. But growth has sharply decelerated since then. Adjusted EPS growth slowed to 33.0% in Q3 FY 2021 and to 3.5% in Q4. In Q1 FY 2022, the company posted its first quarterly adjusted EPS decline, falling 11.2%, since the third quarter of FY 2029. In Q2, analysts expect adjusted EPS to drop 23.6% YOY.
Meta has posted robust revenue growth in recent years. Revenue rose 26.6% in FY 2019, 21.6% in FY 2020 and accelerated to 37.2% in FY 2021. In the last three quarters, revenue growth has slowed significantly, rising by only 6.6% YOY in Q1 FY 2022. Now analysts expect revenue to decline in Q2, which would be the first decline in at least three and a half years.
|Facebook (Meta) Key Stats|
|Estimate for Q2 FY 2022||Q2 FY 2021||Q2 FY 2020|
|Adjusted Earnings Per Share ($)||3.30||4.32||2.21|
|Monthly Active People (B)||3.7||3.5||3.1|
Source: Visible Alpha
The Key Metric
As mentioned above, investors will also be focused on Meta's monthly active people, or MAP, a key metric that measures the size of the company's global active user base across all of its platforms. Meta defines a MAP as a registered and logged-in user of Facebook, Instagram, Messenger, and/or WhatsApp who has visited at least one of these products through a mobile device app, web, or mobile browser in the prior 30 days. This is distinct from the company's monthly active user (MAU) metric, which is specific to Facebook and/or Messenger. Meta derives the majority of its revenue through selling advertising space on its social media sites and apps to marketers. The bigger its user base, the more attractive its platform is to advertisers. Historically, a bigger user base also has made it easier for Meta to attract new users as people want to be on its platforms because their friends are on it, a classic example of the network effect.
Meta's MAP growth accelerated early in the COVID-19 pandemic as more users around the world boosted their use of social media and streaming entertainment. Meta's MAP growth accelerated from 10.4% in Q2 FY 2019 to 13.8% in Q2 FY 2020, reaching a peak of 15.4% in Q1 FY 2021. Since then, the pace has steadily slowed. It decelerated from rose 8.8% in Q4 FY 2021 to 5.5% in Q1 FY 2022. Analysts now predict that Meta will see MAP increase by just 4.6% YOY for Q2 FY 2022, the slowest pace of growth in at least three and a half years. By Q2, MAP is expected to total 3.7 billion users, nearly half of the world's population.
Wall Street Journal. "Meta-morphosis or More Pain? Possible Futures for Facebook’s Parent Company."
Bloomberg. "Facebook Users Will Be Able to Have Up to Five Profiles."
Bloomberg. "Meta Rolls Out Monetizing Features for Instagram, Facebook Creators."
Meta Platforms Inc. "Q2 2022 Earnings."
Visible Alpha. "Financial Data."
Meta Platforms Inc. "Form 10-K for the fiscal year ended December 31, 2021," Page 54.
Meta Platforms Inc. "Form 10-K for the fiscal year ended December 31, 2021," Page 57.
Worldometer. "Current World Population."


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The other night I caught the end of a ‘fly-on-the-backseat’ motorway police show. The crew involved had attended a bunch of accidents on motorways and the policeman was making the point that on our crowded motorways it only takes a moment’s inattention to the view ahead at 70mph to run into the vehicle ahead and cause a pile-up.
Yet what is the in-car infotainment industry relentlessly pursuing?
Yes, it’s more and more ways of distracting the driver from the job of actually driving the vehicle he’s in.
The latest system to catch my eye is Ford’s ‘AppLink’ system that’s being built into the dashboard of its latest cars. It allows drivers to control apps on their Android, iPhone or BlackBerry smartphone using the car’s built-in voice recognition system, or the controls mounted on the dashboard and steering column.
To quote the article:
“The car connects to the smartphone via Bluetooth and gives the driver full control over their apps, without ever having to touch the smartphone and potentially incur the wrath of the local constabulary.”
One of the apps a music player:
“Ford’s system allows the driver to select playlists, skip to the next track, give songs the thumbs up, and even purchase tracks using nothing more than voice commands or, say, the next track button that normally controls the CD player on the steering wheel.
“Everything is beautifully integrated. The dashboard display shows the track name and artist currently playing, for example, while the car’s radio preset buttons are automatically mapped to the user’s favourite Pandora radio stations. And if the driver decides to do something stupid, like pick up the smartphone and attempt to control the app from the touchscreen while they’re moving, they’re met with a “locked” screen.”
So, the driver can’t actually use the touchscreen, but he can use voice control or the steering wheel buttons to scroll around his playlist, whilst looking cover art and track name at the screen.
Does the author of this article really think that deciding online which track to buy is an appropriate activity behind the wheel of a couple of tonnes of speeding car, that is somehow less ‘stupid’ than trying to use a touchscreen on the move?
But it’s not just an enhanced music player, arguably one that’s safer than scrabbling around under the passenger seat for the CD or cassette you’ve just dropped on the floor. Oh no, far from it.
“Ford is rolling out AppLink across all its models in North America, and plans to extend the system to Europe at a later date. The Ford spokesman told me that the company has “hundreds of app developers” interested in joining the system.”
I can just see a voice-activated Twitter app allowing drivers to add “now driving up the M1” to the existing millions of inane messages that flood the system already. How about updating your Facebook status online?
Do Ford really think this is appropriate technology to hand to a driver?
“Alongside AppLink, Ford is also turning its cars into Wi-Fi hotspots by allowing users to plug USB 3G dongles into the dashboard, engaging a built-in router that allows passengers in the back to use their laptops, for example.”
Sounds more reasonable at first sight. But just in case you’re thinking that this technology will be restricted to luxury cars so the bored executive will be online sitting safely in the back seat of the car, Ford isn’t planning to roll this out only on high-end luxury cars, but everyday runarounds such as the Ford Fiesta too.
More to the point, do the various safety bodies around the world who are busy hammering out yet more legislation on driving standards, emissions regulations, anti-tampering laws and all the rest really have nothing to say about these developments?


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Top golfer Jordan Spieth is teaming up with Atlanta-based Coca-Cola on what's been reported as one of the biggest deals the company has made with an athlete.
The 22-year-old champion from Texas will promote Coca-Cola through appearances in TV commercials, digital and social media campaigns, merchandising, outdoor advertising, packaging, events and more.
Spieth, who opened the season winning the Masters and The U.S. Open Championship, clinched the PGA TOUR’s 2015 FedEx Cup at the Tour Championship by Coca-Cola at Atlanta's East Lake Golf Course last year.
Financial terms of the deal were not released. Spieth is expected to promote Coca-Cola's Dasani water brand. Other Coca-Cola promoters include LeBron James (Sprite), Jennifer Aniston (Smartwater) and Taylor Swift (Diet Coke).
According to the company's release, Spieth has always been a fan:
Spieth, who enjoys cracking open an ice-cold Coca-Cola after a long, hot day of practicing in Texas, says some of his favorite Coca-Cola memories are still being made
“After winning the Tour Championship by Coca-Cola, one of the perks is receiving a 1955 Coca-Cola vending machine that dispenses the old-school glass bottles,” the golfer said in a release. “My little sister absolutely loves it. She comes over, goes straight to the machine, grabs a few bottles out, hands them around and asks me to open them for her.”
Spieth isn't the first golfer to partner with Coca-Cola. Georgia's legendary golfer Bobby Jones appeared in a Coca-Cola advertising campaign in 1947. He became a Coca-Cola bottler shortly thereafter.


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Microsoft has announced that Windows 11 will be release earlier than expected. This is good for consumers who have been waiting for the new OS to come out, but it could also cause some problems if Microsoft does not prepare well and releases buggy software.
The “windows 11 release date for public” is a change that Microsoft has made. The company released the operating system earlier than expected, which means that it will be available for purchase on October 18th.
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- Microsoft plans to release Windows 11 to a larger number of devices sooner than originally announced.
- To get the Windows 11 upgrade, devices must first pass Microsoft’s compatibility check.
- Even if your device doesn’t have a TPM, you can still install Windows 11 provided it matches the system requirements.
Users who wish to eventually update to Windows 11 have a variety of alternatives. If, on the other hand, you like to sit quietly and wait for the rollout to reach you, then the moment has come.
Microsoft has previously said that the Windows upgrade will take some time to get out. However, things have changed since then. Because things have been going so well for Microsoft, they are more than willing to speed up the rollout.
Microsoft is confident that the transition will proceed smoothly. The majority of user comments has been good. This played a significant role in Microsoft’s decision to accelerate the rollout schedule.
Microsoft had originally intended to start the rollout in June 2022. If Microsoft’s first rollout of Windows 10 in 2016 is any indication, the company will take its time. The 2015 rollout was not without its difficulties.
Upgrade requirements for Windows 11
The devices that pass Microsoft’s compatibility check are those that are eligible for the Windows 11 upgrade. They should also be compatible with Windows 10 version 2004 (the May 2020 upgrade) or above. It should also feature the cumulative security update for September 14, 2021.
If your device meets the aforementioned conditions, the update should appear automatically. However, if the update has not yet been made available to you, you will have to wait a little longer.
To make the upgrade, there are a few workarounds.
This does not, however, require you to continue with Windows 10. Using these instructions, you may update to Windows 11. You may, on the other hand, pay Microsoft to stream Windows 11 to whatever device you choose, regardless of whether it runs Windows.
Furthermore, even if you don’t have a TPM, there are various methods to update to Windows 11 without one. When you do this, though, you put yourself in a lot of danger.
With the exception of the TPM, it is critical that your device satisfies all of the system requirements. This should, in theory, work, enabling you to proceed with the update.
Are you happy with Microsoft’s decision to release Windows 11 sooner than expected? Let us know what you think in the comments area below.
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The “how to get windows 11” is a new operating system that Microsoft began the roll out of earlier than expected. The company has begun the rollout in phases, with Windows 11 available now for some users.
Frequently Asked Questions
What is the release date of Windows 11?
A: Windows 11 is the name of Microsofts next operating system. It has not been released yet, but it will be released on October 1st 2020 in time for Halloween.
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A: Its not. Microsoft has stated that they will be releasing a Windows 11 in 2020, so it is not out yet.
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Will Google's Project Ara Smartphone Give Apple A Run For Its Money?
Google (NASDAQ: GOOG) is hard at work on its concept for a modular smartphone, which is officially known as Project Ara.
"This new Google phone will be completely modular, so customers can customize and upgrade their phones at will," Gary Anderson, founder of 3DPrintingStocks.com, told Benzinga. "You'll be able to design your own unique phone and update it cost-effectively instead of having to buy a new phone every two years to keep up with technology. Will it replace the iPhone? Probably not, but I wouldn't underestimate Google's ability to give Apple a run for their money with this new concept."
Google has enlisted in the help of 3D Systems (NYSE: DDD) to produce modules for Project Ara. According to Anderson, that makes it one of the most exciting companies in the 3D printing industry.
"What's really game-changing for the 3D printing space is that 3D Systems will be manufacturing these components on a massive scale," he said. "It's this evolution from prototyping to true large-scale manufacturing that makes the 3D printing space so attractive, and 3D Systems appears to be at the forefront of this transformation."
Of course, Apple is also rumored to be developing a 3D printer.
"Apple has filed several patents in 3D printing, but it's unknown if they might enter the space for internal use or to manufacture their own brand of printers," said Anderson. "It's obviously something to keep an eye on, but at this point there's nothing I've seen that's concrete to substantiate the rumors. Google's Project Ara will use 3D printing for their smartphone components as mentioned above, but beyond that, just rumors."
Regardless of Apple and Google's plans, there is one prominent company that stands to make waves in 2014: Hewlett-Packard's. Anderson thinks that HP's brand name and established sales channels could make it "a fierce competitor" to any within the 3D printing space.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Enfatico Now Producing Work For Dell
While Dell's Digital Nomads site has been up for a few weeks, it's only just beginning to receive press. The site is a social media offering for the increasing number of people for whom location has become irrelevant when it comes to work and online life.
Digital Nomads is a blog, a Facebook page, a LinkedIn page, a Twitter identity and a YouTube page. While it's been unclear whether or not Enfatico was involved in the creation of the work, an email to Dell Digital Nomad Enterprise Evangelist Bruce Anderson confirmed the agency's involvement. Anderson tells us Enfatico was "involved in the overall layout, design and social-media integration for the site."
With Dell's Richard at Dell having previously made mention to Adrants of work already done by Enfatico, it would seem that knowledge combined with the launch of Digital Nomads, would call for the retirement of that Enfatico countdown clock.


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Thefappeningblog.com is the place to be for those wanting to get in on the hottest gossip of celebrity nude photo scandals! Whether it’s a naughty snap taken by an ex-lover scandalously exposed, or a more organised event such as the infamous Fappening, Thefappeningblog.com has you covered with all the latest news and updates on celebrity nudity.
From Hollywood A-listers to rising stars in television, music and movie blockbusters – no one is safe when it comes to leaked nude photos! And with Thefappeningblog.com you don’t have to wait until they hit mainstream media sites; you can get your fix right away with all their coverage of celebrity private parts being splashed across social media and the internet as soon as it happens.
So don’t miss out on seeing how other people react – or even joining in yourself – to the wild ride of nude celebrity photos released online and check out Thefappeningblog.com today. With up-to-date reporting on all leaked images from around the world and an array of exclusive behind-the-scenes content, you’ll never be out of touch when it comes to celebrity nudity!
Whether you’re fascinated by the ever changing behaviour of celebrities or just looking for some fun down ‘naccy alley’, don’t miss Thefappingblog.com for your full hit of naughtiness! They have everything from rare throwback pics that have become iconic over time, as well as new images released daily so there’s always something fresh around every corner.
What sets this site apart from other gossip outlets is its focus on accuracy; ensuring all photographs originally posted are verified versions that haven’t been doctored or manipulated in any way. This means readers are always getting trustworthy information that can stand up against any accusations of false news circulated through shady websites and blogs – something we feel very passionately about here at Thefappeningblog.com
So if you’re looking for a one stop shop which keeps up with every latest development regarding nude celeb pictures, then head straight over to Thefappeningblog


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The Daily Mail's City team take a look at the 'car parking slots' for planes that are traded for millions on a grey market between airlines.
What are they?
A bit like parking slots for cars, but much more expensive and for rather larger modes of transport. Landing slots are the rights allocated to airlines to land or take off at a specific time.
How do they work?
They are governed by two principles. The first, known by the plane-spotter brigade as the Chicago Convention, states that if an airline doesn't regularly use a slot it will be taken away. Second, they carry grandfather rights, which means that an airline can use a slot indefinitely.
Who owns them?
The airport authorities, which allocate them to airlines for free. But there is a thriving grey market. Airlines will pay millions to buy slots off rivals.
Weekday morning and afternoons are most highly prized - and very expensive.
How much do they cost?
Slots at busy airports such as London's Heathrow typically cost £15m for a pair - so that's the right to land and take off.
Ryanair is willing to sell Aer Lingus' Heathrow slots, thought to be worth as much as £200m, to win approval for its takeover of the Irish flag carrier.
British Airways recently snapped up 51 slots at Heathrow from rival bmi for £30m.
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HTC Vive is getting a brand new game bundled with every unit sold… at least it is in Australia.
Vive Studios’ Front Defense, a World War II- era first-person shooter developed by Fantahorn Game Studio, will be included with every unit sold on the Australian Vive website until August 24th. Not only that, but the bundle comes with a themed protective cover for both your headset and the Vive controllers. The white covers sport the Front Defense logo. Pretty cool, huh?
That’s not all; Vive costs $100 AUD less for Australian fans buying directly from the official site for the next two weeks too. But you have to hurry; these units are very limited. The site’s terms and conditions note that only 80 units are available, so if you’re considering picking it up you better act now.
That said, we weren’t the biggest fans of Front Defense, giving it 4/10 in our full review.
We have of course reached out to HTC to ask if this bundle and promotion will be going live anywhere else over the next two weeks. We’d love to see more themed bundles with these covers, especially with big IP like Fallout soon arriving on the headset. Previously Vive bundles included a free copy of Star Trek: Bridge Crew.


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McLaughlins offer more than sausage
Published 12:00 am Thursday, December 3, 2009
By Jessie Burchette
MOUNT ULLA –McLaughlin’s Farmhouse is open for business.
It’s a whole lot country, with a fireplace, rocking chairs and an invitation to come sit a while and sip a cup of fresh coffee.
It’s a new venture for the fifth generation McLaughlin Sausage Co., which turns out thousands of pounds of livermush and sausage monthly.
Located at 17725 N.C. 150, the wooden structure and adjacent sausage plant is surrounded by million-dollar houses in the Teeter Farms and Steeple Gate subdivisions.
While some of the high-end neighbors originally opposed the plans for the store, many couldn’t wait for it to open. As the family worked late into the nights over the last week to get the store stocked and ready to open, people kept stopping by, hoping they might get in early.
They couldn’t, at least not until the store officially opened this past Friday.
Many families across Rowan and Iredell counties grew up on McLaughlin sausage.
They marketed their sausage through small, family stores, such as McCombs in Faith.
Gradually, those stores closed one by one, leaving the McLaughlins with no retail outlet in Rowan County for their products. But their sales to restaurants, including many in Iredell and Catawba counties, have continued to grow.
Brothers Tom and Bill McLaughlin hope the folks that remember the taste of McLaughlin sausage will be visiting the farmhouse. And they’re hoping to win over more.
Joining the brothers in the venture is Bill McLaughlin III, the fifth generation in the family’s meat business.
While providing an outlet for their sausage business, the brothers also want to bring back the atmosphere of a country store and make Mount Ulla proud.
“We’re a very blessed family, and we thank God,” Bill McLaughlin Jr. said last week. “This is not just about making money. We want to provide an asset to the community and to the county.
“You can come out and sit, relax and talk, sip coffee or cappuccino.”
The McLaughlins have a dozen or more new rocking chairs waiting to be tested.
The Farmhouse offers McLaughlin’s sausage, livermush, center-cut country ham and bacon.
And the store will stock organic, range-raised, brown eggs.
For the beef lovers, the McLaughlins offer hand-cut Black Canyon Angus steaks.
While the meat may be the featured attraction, the farmhouse goes far beyond.
“Our goal is to offer the best products from across North Carolina,” Bill Jr. said. The family plans to have as much N.C. produce as possible, including Deluxe Ice Cream from neighboring Mooresville Ice Cream Co.
The store also offers a wide variety of old-style candies, homemade jellies, jams and preserves. And you can get fresh flowers or silk flower arrangements.
Luellen Masingo, a McLaughlin cousin and store manager, offers custom floral arrangements. And given the time of year, you can find a Christmas wreath.
“Don’t forget the Amish breads,” Bill Jr. said, or the homebaked pies, cakes and other goodies fresh from the ovens of Mount Ulla’s best bakers.
The McLaughlins are offering an assortment of gift boxes in the $25 to $35 price range that feature the country ham with various breakfast items, including grits, pancake or biscuit mixes, cheese or jams and jellies.
They offer the boxes individually or in large quantities for corporate gifts. Custom gift boxes can be put together to suit the customer’s taste.
In recent weeks, family members have split their time between meat production and getting the store ready.
With the final building inspection approval and electricity turned on Tuesday, they started stocking shelves while workmen moved in large coolers.
In the long run, the McLaughlins hope to attract customers from Lake Norman, Charlotte, Salisbury and Statesville — offering a visit to “a slower, simpler time, where folks are friendly.”
The McLaughlins hope the store will boost sales of their main products: sausage and livermush.
In December, they make sausage once a week, turning out 1,500 to 2,000 pounds.
But livermush is the big seller in November and December. They make livermush three days a week, turning out 3,000 pounds.
“It doesn’t taste like liver,” said Tom, who is in charge of the livermush production. “Liver is bitter.”
The McLaughlin Sausage Co. plant, located on the same property as the Farmhouse, was built in 1962 by Harold “Pop”McLaughlin, father of Tom and Bill.
For many years before that, the family’s business operated in Mooresville, while the family lived and farmed in Mount Ulla.
Bill said the family meat business started in the days of horses, wagons and no refrigeration. Silas McLaughlin would kill a cow, haul it to nearby Mooresville, park on the street and cut it up as customers placed their orders.
According to family stories, Silas bought a 200-acre farm during the Civil War for $50.
The McLaughlins sold most of that tract across the road. It’s now Steeple Gate, a high-end gated development. Some family members, including Masingo, continue to live on parts of the old farm.
Now, the McLaughlins buy their hogs from other farmers.
McLaughlin’s Farmhouse will operate Monday through Friday, 8 a.m. to 6 p.m., during December. January hours will be announced later. For more information, call 704-660-0971.
Contact Jessie Burchette at 704-797-4254 or jburchette@ salisburypost.com.


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By Em Kribs and Greg Mees
Eli Kolodny’s birthday celebration was a little more special than usual this year. Some people get clothes or a DVD for their birthday, but he got the fruition of a two-and-a-half-year project and a must-try beer.
Odell Brewing Company released Amuste Saturday afternoon with a party full of cupcakes and local food trucks, live music and — of course — beer.
“It’s an imperial porter aged with Tempranillo grapes grown on the western slope, and we’ve also aged it in red wine barrels” said Eli Kolodny, the quality control manager at Odell Brewing Co. who developed the idea surrounding Amuste.
“I’m not 100 percent responsible, obviously,” said Kolodny. “It’s a huge team effort to make a beer like this, but I’ve kind of been given the opportunity to lead the project and it’s been a really awesome experience.”
The result of the experience is a blend of beer and wine.
“I love it. I think it’s great. I think it turned out really well,” said Kolodny, a former biochem student at CSU. “It’s definitely beer forward with just that cusp of wine.”
The grapes make their presence known in more than just the taste. The 750mL bottles are corked, allowing the final fermentation to take place inside the bottles, and their labels are covered in purple splotches reminiscent of the grape stains that “made a mess everywhere” during the secondary fermentation.
“There’s kind of a presentation that people are accustomed to when drinking wine. I was kind of hoping to bring that character into the beer,” said Kolodny.
As an avid lover of stout, porter or any dark beer, Ian Gordon, a long-time friend of Kolodny said it makes him feel great to see Kolodny’s two-and-a-half year project come to life in the Odell taproom.
“I wouldn’t say I love wines, but that’s another why I like this beer so much,” said Gordon. “It’s just enough wine where I get credit for the wine drinking.”
Amuste was the drink of choice, according to Katie Guiffre, a bartender scrambling to serve one of the nearly two hundred people that attended the release.
“Most people are getting it (Amuste) today and if it’s not their first beer, it’s definitely their second,” said Guiffre, “Everyone’s having a great time. They’re just out here to have a blast and drink great beer and listen to good music and even though it’s crowded, no one’s having a stressed out time.”
In fact, the packed-house was a surprise to Kolodny. “It’s crazy. I don’t typically come by the brewery on the weekends, to be completely honest. It’s nice to see that many people willing to come out, especially given the weather, to try something new, especially something that we were taking a little bit of a risk on.”
Kolodny added, “Any time we can bring people here and have them enjoy something we’ve poured our hearts into, is a win-win situation.”
Entertainment Editor Em Kribs and Editor in Chief Greg Mees can be reached at firstname.lastname@example.org.


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The second part of the "Egalim" law aimed at better rewarding farmers will come into effect on February 1 with the 10% increase in the retail resale limit (SRP), where distributors sell products at cost price.
He takes part one month after the promotion, limiting discounts to 34% in value and 25% in volume.
While the impact of the increase in PRS is still widely debated, distributors have already taken the lead in defending the essential: traffic in stores and on their sites aimed at US giant Amazon, which levels market shares with conventional signals.
"The first battle is traffic, in a market where promotion plays a very important role and accounts for approximately 20% of turnover in food," said Yves Marin, Bartle partner, responsible for large consumption.
To achieve this, retailers are already multiplying promotions on non-food products like detergents or cosmetics that are not covered by the law.
They also made price cuts under their own brands, such as Leclerc, which announced in early January reductions on 4,600 Mark brand products, with the exception of agricultural products, promising to "maintain that decline." throughout the year ".
The approach was followed by Intermarché, which does the same for several hundred products.
Others are betting on their loyalty programs, such as Carrefour, with significant discounts on 200 products of major brands impacted by the law.
INFLATIONAL IMPACT OF 1% TO 2%
"So loyal customers will see their buying power preserved in these everyday products," says the distributor.
The group led by Alexandre Bompard will also offer 10% discount to cardholders over 10,000 products of its Carrefour brand.
After a structural decline for more than five years, clean brands, which account for less than 30% of retail food sales, should therefore regain color.
The increase in SRP will mainly affect the products of major brands such as Nutella, Nesquik, Nestlé or Ricard Pernod Ricard, in which stores are betting to attract customers in stores.
Its inflationary impact on prices is estimated on average, depending on the model, between 1% and 1.5%.
According to Minister of Agriculture Didier Guillaume, the increase in the French average monthly basket will be limited to 50 cents per month and will affect 500 products of 13,000 in supermarkets and 800 products in 20,000 in hypermarkets.
"There are 4% of products that will increase a lot, I'm sorry, I would have preferred it to be done differently," he added.
In the end, for distributors, the impact of Egalim's law must be neutral.
"Distributors will not reap any additional profits," said Yves Marin.
Consumption remains weak and competition tight, while the Amazon threat forces traditional actors to invest heavily in their digitization.
(Pascale Denis, edited by Jean-Michel Belot)
from Pascale Denis


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Nokia said on Twitter Wednesday that a second software update will roll out to Lumia 800 devices over the next two weeks. It is largely expected that the update will help fix the poor battery life that has plagued some, but not all, Lumia 800 users. Nokia has already addressed the battery issue, which limits the capacity of the battery, and has even recommended that those with the problem send their devices in for replacement phones. More →
Amazon on Wednesday began rolling out an update for its Kindle Fire tablet that is expected to address a number of user complaints. Software version 6.2.1 should “enhance fluidity and performance” and “improve touch navigation responsiveness.” The patch will also enable users to customize the order in which applications appear in the Kindle Fire UI carousel and enable additional security features, such as the ability to create a password lock for Wi-Fi access. Amazon says the free patch will be delivered over the air via Wi-Fi to the Kindle Fire, and the company advises that users make sure their devices are fully charged before initiating the update. More →
Nokia’s European support team has issued an official statement to those who have a Lumia 800 with poor battery life. “We immediately started to investigate these reports and can now confirm that while the battery itself is fine, a software problem on certain variants is limiting the phone’s ability to access the full battery capacity,” a Nokia representative wrote on the support forums Monday. Michael explained that the battery life issues are only the result of a software flaw and, as such, Lumia 800 owners can expect a software patch that fixes the problem early next year. Lumia 800 users who do not want to wait that long can contact Nokia and request a replacement handset. Hit the break for Nokia’s explanation of how to find out whether or not your Lumia 800 is affected by the bug. More →
Amazon confirmed recently that it will release a patch for its Kindle Fire Android tablet that will address a number of bugs and user complaints. “In less than two weeks, we’re rolling out an over-the-air update to Kindle Fire,” Amazon spokesperson Drew Herdener told The New York Times in a recent interview. Herdener explained that Amazon will improve multitouch performance on the device, and will also enable a feature that allows users to edit their usage history on the tablet. Despite mixed reviews, including our own, Amazon’s Kindle Fire has been labeled a potential “blazing success” by Morgan Stanley and a number of analysts expect the firm to ship as many as 5 million units during the fourth quarter. More →
HTC has issued a new statement addressing concerns over a security flaw recently discovered on several of its Android-powered smartphones. The vulnerability could allow third-party apps to access and steal private data including SMS messages, contact data, system logs, location information and more. “HTC takes claims related to the security of our products very seriously. In our ongoing investigation into this recent claim, we have concluded that while this HTC software itself does no harm to customers’ data, there is a vulnerability that could potentially be exploited by a malicious third-party application. A third party malware app exploiting this or any other vulnerability would potentially be acting in violation of civil and criminal laws.” HTC says that it has not yet received any reports of malware exploiting the security flaw, and it recommends using caution when installing or updating applications from untrusted sources until a patch is issued in the near future. HTC’s full statement follows below (emphasis added by HTC). More →
AT&T announced on Tuesday that its first 4G LTE devices, including the USBConnect Momentum 4G and the Mobile Hotspot Elevate 4G, will be available in-store and online later this month. The USBConnect Momentum 4G and Mobile Hotspot Elevate 4G will launch on August 21st for $49.99 and $69.99, respectively, each with a new two-year agreement and after a $50 mail-in rebate. AT&T’s existing USBConnect Adrenaline modem will receive a software update on August 26th that will add support for the carrier’s 4G LTE network. AT&T will charge $50 per month for a 5GB data plan on its LTE network and any additional data past the 5GB cap will cost $10 per gigabyte. AT&T’s LTE network will first launch in Atlanta, Chicago, Dallas, Houston and San Antonio this summer, and will eventually expand to at least 15 markets later this year.
HTC began pushing out the Android 2.3.3 (Gingerbread) update to the AT&T HTC Inspire 4G on Monday. Customers will receive notifications to update over-the-air or they can manually initiate the installation process by navigating to Home > Menu > Settings > AT&T Software Update > HTC Wi-Fi software update > Check now. The patch also includes an updated Sense application tray, new FriendStream features, fixes for minor bugs and an updated Quick Settings menu in the notifications shade. HTC says Inspire 4G users should notice an improved media experience and better power management as well. More →
Motorola has pushed out Android 2.3.4 (Gingerbread) to the Motorola ATRIX 4G. The update adds a number of new enhancements unrelated to Gingerbread, including support for 1080p HD video playback, a re-designed home screen with white backgrounds for easier reading of text, an enhanced photo gallery, the ability to dismiss notifications one at a time, a faster Webtop browsing experience, enhancements to the dock icons and more. To update, make sure your ATRIX 4G is connected to a Wi-Fi network and then go to Settings > About Phone > System updates > Download. Read on for a link to Motorola’s website, which includes the full release notes on software v4.5.91. More →
Apple released iOS 4.3.4 on Friday in an effort to fix a security vulnerability that was present on both the iPhone and the iPad. The fix was supposed to prevent hackers from using a PDF security hole to jailbreak both devices. That didn’t quite work. The next day iPhone Dev Team was able to route around the security fix and issued a jailbreak tool for iOS 4.3.4. iPhone Dev Team has released the latest redsn0w jailbreak tool, but unfortunately it forces iOS 4.3.4 users to keep their iPhone or iPad tethered to their computer during sync and reboot. In other words, if you haven’t already updated to iOS 4.3.4 and want your iPhone or iPad to remain jailbroken, you’re going to be best off sticking with iOS 4.3.3 until another workaround is found.
Apple has promised to patch a security hole found in the iPhone and iPad following a report published by Germany’s Federal Office for Information Security. Reportedly, a PDF security hole could allow hackers to gain unauthorized access to personal data — such as messages and passwords — stored on an iPhone or iPad and could “infect the mobile device with malware without the user’s knowledge.” Apple’s PR team was quick to respond to the allegations. “[Apple is] aware of this reported issue and developing a fix that will be available to customers in an upcoming software update,” Bethan Lloyd, an Apple spokesperson told AFP on Thursday. Apple has not yet confirmed when it will push out the security update. More →
Microsoft’s new Windows Phone Mango update is expected to begin rolling out this fall, but there are already reports that the company is working on the next updates, codenamed “Tango” and “Apollo.” DigiTimes reported on Tuesday that Compal Communications, which manufacturers devices for Acer and Nokia, recently inked a Microsoft deal confirming that it will build devices for Mango as well as the next-generation Tango update. Microsoft hasn’t discussed Tango yet, so it’s unclear what will be included or how big of a jump it will be from the long awaited Mango release. Reportedly, Tango will then be phased out in favor of a new “Apollo” OS, which we first heard about late last year. More →
Sony Ericsson confirmed in a blog post on Monday that its developers have been working hard on the Android 2.3 Gingerbread update for the Xperia X10, and that the roll-out will begin in early August. The company confirmed that it will keep the original camera UI as found in the Eclair version of the phone, and that the Facebook Inside Xperia functionality in the newest Xperia family of phones will be available on the X10 as well. Unfortunately, SE said that it will not add DLNA support to the X10, as adding that would “jeopardize the time schedule.” Generic trade phones will get the Gingebread upgrade, which was announced in March, but Sony Ericsson did note that “some of you will not be able to upgrade your customized version of Xperia X10.” In other words, we seriously doubt AT&T users will ever get it. Hit the jump for a video of a prototype running Gingerbread in action. More →
Adobe has issued an update for its Adobe Flash Player application on Android smartphones. “A critical vulnerability has been identified in Adobe Flash Player 10.3.181.23 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 10.3.185.23 and earlier versions for Android,” the company said. “This memory corruption vulnerability (CVE-2011-2110) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via malicious Web pages.” The latest version, 10.3.185.24, is available in the Android Market for free now. More →


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China and Georgia signed a memorandum concerning the construction of free economic zones on Tuesday at the Tbilisi Belt & Road Forum 2017, reports China Central Television.
According to a post on the Chinese Ministry of Commerce's website, Qian Keming, the Chinese deputy commerce minister, and Dimitry Kumsishvili, Georgia’s minister of finance, signed the relevant documents on Tuesday.
It was also confirmed at the meeting that the China-Georgia Free Trade Agreement (FTA), ratified in May 2017, will come into force on January 1, 2018.
Georgia is an important economic and trade partner for China in Eurasia, due in part to its strategic geographical location between east and west. It is also the first country in the region to sign an FTA with China.
Once the agreement takes effect, Georgia will eliminate tariffs on 96.5 percent of Chinese exports, while almost 91 percent of China's imports from Georgia will become tariff-free immediately.
The Tbilisi Belt & Road Forum 2017 is being held in the Georgian capital of Tbilisi between November 28 and November 29.
The forum, according to Georgian prime minister Giorgi Kvirikashvili, aims to explore opportunities stemming from the China-proposed Belt and Road Initiative.


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Majestic seeks to supply more pubs after strong results
WINE merchant Majestic is seeking to grow the number of on-trade businesses it supplies after posting strong financial results.
The firm, which operates 181 stores across the UK, reported a 14.5% increase in pre-tax profits to £23.2 million for the 53 weeks to April 2 2012. Total sales increased by 8.9% to £280.3m, which included a 6.9% increase in business-to-business sales.
Chief executive Steve Lewis said the firm’s Majestic Commercial corporate division, which was set up in 1994 to supply wine to businesses, aims to increase the number of restaurants, hotels and pubs it supplies. Currently around half of its 2000 commercial accounts are on-trade businesses.
“We see good prospects for further rapid growth of our sales to on-trade customers,” said Lewis.
“We hold extensive stocks at each of our locations with the ability to offer credit facilities and arrange deliveries seven days a week. Sales to business customers increased 6.9% on last year and now represent 24% of total UK sales.”
Elsewhere the company reported an 11.1% increase in the number of customers making purchases, with the average spend per transaction up by £2 to £128.
Online spend increased by 7.8% in the course of the year and now represents 10% of all Majestic sales.
The financial year also saw the company opening 16 new stores, including shops in Livingston and Dundee. Since the beginning of the new financial year Majestic has also opened a store on Edinburgh’s Queensferry Road and said it aims to increase its estate to 330 locations.
Majestic wasn’t the only wine merchant to report strong trading over the past year, however.
Bibendum also recently announced strong financial results, with pre-tax profits up 25% in the year to March 31 and turnover up to £185m.
Managing director Michael Saunders described the figures as “pleasing”.
“Current conditions are a challenge for any business, but I am delighted that we have not only grown sales, but also ensured we are more profitable,”
“We have achieved this result by focusing on the needs of our customers, streamlining internal processes and making sure we operate as efficiently as possible.”
Image: Around half of Majestic Commercial’s 2000 accounts are on-trade customers.


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Analysis - Time for Coca-Cola Co to drop its '2020 Vision'
Coca-Cola has goals it aims to reach by 2020
Kent talked of redeploying spend on consumer promotions to focus on pushing its brands, particularly Diet Coke, through media coverage. The move is part of an attempt to stem the decline at the group, who this week reported a slide in full-year profits and sales, after a particularly tough Q4.
But, is this enough to placate the doom-mongers?
Analyst Mark Swartzberg of Stifel has branded Kent’s announcement today as “encouraging”. But, he adds: “We think the basic reality - significant increase in spend to restore achievement of the company's long term volume target of 3% to 4% - reflects rising secular pressure on a large portion of the company's portfolio.”
As the world’s largest soft drinks firm, Coca-Cola, as much as any company, has felt the sting from not only macroeconomic pressures across its global markets, but also the impact of health-conscious consumers switching from sugary CSDs to other, healthier options. The firm is keen, however, to highlight that 40% of its portfolio now comprises low- or no-calorie options.
However, Swartzberg still has concerns. The analyst even believes Coca-Cola should abandon its high-profile 2020 Vision. The strategy, launched in 2009, sets out the group’s goal to have doubled annual sales over the 11-year period.
“We think the board should consider eliminating (the) 2020 Vision, replacing it with targets that place primary emphasis on cash flow and economic profit, putting revenue objectives in a more value-enhancing framework,” says Swartzberg.
And yet, with such a high-profile commitment, the chances of Kent and his colleagues ditching the strategy appear unlikely. Coca-Cola might keep its 2020 Vision, but some thorough health checks along the way will no doubt be required.
Coca-Cola Amatil's (CCA) launch of Coca-Cola Life in Australia is the first round in a fight to entice consumers back into the CSD category with natural sweeteners, the company has said....
Coca-Cola Co partner Keurig Green Mountain (KGM) has revealed that its upcoming home-carbonation platform will be called the Keurig Kold....
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8.26.21 Baltimore Sun
The Maryland Public Service Commission last week levied a $400,000 fine against a retail energy supplier for duping 1,200 customers in Maryland, the state’s Office of the People’s Counsel announced Thursday.
The company, SunSea Energy LLC, will still be allowed to operate in the state.
Employing deceptive sales tactics, SunSea enrolled some 1,200 people in Maryland, raising prices on those customers while it promised savings, according to the consumer advocacy agency.
The company’s practices were exposed after it sought to enroll an employee of the people’s counsel over the phone, according to the office. The representative for SunSea, the office said, pretended to be calling from the employee’s utility company.
SunSea promised substantial savings, but it charged about 13 cents per kilowatt-hour rather than the standard rate of 8 cents, the office said.
The people’s counsel said it asked the utility and transportation commission to impose a $1.5 million fine against SunSea and to revoke its license to sell in Maryland.ADVERTISING
In a statement, People’s Counsel David S. Lapp said the penalty vindicates his office’s civil complaint.
“But it falls short of the penalty we think the Commission should have ordered,” Lapp continued. “And, unfortunately, the company will continue to operate in Maryland even though it engaged in numerous violations over the short time it has operated in Maryland.”
The people’s counsel presented its case to the commission Oct. 7, 2020, showing “evidence of SunSea’s extensive violations of consumer protection laws and regulations,” the office said.
According to a subsequent news release from the Public Service Commission, the company erred when it enrolled customers over the phone without providing written contracts and engaged in deceptive marketing.
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A representative for SunSea Energy could not be reached for comment Thursday night. The company also operates in New Jersey, Washington, D.C., and Ohio, according to the Public Service Commission.
After the October hearing, the commission mandated SunSea disenroll its Maryland customers and issue partial refunds to them. The commission also ordered the company to stop soliciting new customers.
At the time, the People’s Counsel asked for a $2.5 million fine. But the commission delayed issuing a civil penalty until last week, according to the consumer advocacy agency.
The People’s Counsel acknowledged that SunSea complied with commission’s orders in the interim, including issuing refunds.
But Lapp said his agency was disappointed by the commission’s penalty.
“Such practices should not be tolerated,” Lapp said in a statement. “The Commission should issue tougher penalties to deter future violators.”


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Ocean Spray Welcoming Original Cranberry Creations for its Ultimate Cranberry Recipe Contest
LAKEVILLE-MIDDLEBORO, Mass. (March 14, 2008) – Ocean Spray is seeking original cranberry recipes from those passionate about the little, red wonder-berry for the Ultimate Cranberry Recipe Contest. Novices to skilled experts across the country are asked to cook up, mix up and serve up their best cranberry-inspired ideas for a chance at $25,000 for the winning recipe. Cranberry contest hopefuls can enter starting today, March 14, 2008, at www.oceanspray.com (for home cooks) or www.oceansprayfoodservice.com (for foodservice professionals).
From holiday to everyday, the versatility and uniquely tart flavor of cranberries make them a dynamic addition to any culinary concoction. From dressings to drinks, soups to salads, and tarts to tapas, the recipe options are endless, making cranberries the perfect ingredient to inspire the palette.
“Ocean Spray launched the Ultimate Cranberry Recipe Contest last year to celebrate the cranberry year-round and encourage food lovers to get creative with how this traditional American fruit can be used,” said Ken Romanzi, chief operating officer of Ocean Spray, domestic. “This year, we’re hoping contestants take their cranberry innovations to a new level.”
Recipes must be original, use Ocean Spray products and can be entered in a variety of categories ranging from beverages to baked goods. Recipes will be judged on creativity, use of product, taste, overall appearance and ease of preparation.
Each finalist recipe will be featured on www.oceanspray.com. For more details, official entry guidelines and contest deadlines for the Ultimate Cranberry Recipe Contest and the 2007 finalist recipes, visit www.oceanspray.com or www.oceansprayfoodservice.com.
The winners of the 2007 Ultimate Cranberry Recipe Contest were Karen Harris with her “Pan Seared Chicken Breasts with CranCherry® Sauce and Bleu Cheese Crumbles” for the consumer category and Jeff Leidy of Centerplate with his “Cranberry Mojito” for the foodservice category.
Ocean Spray is an agricultural cooperative owned by more than 650 cranberry growers in Massachusetts, Wisconsin, New Jersey, Oregon, Washington, British Columbia, and other parts of Canada as well as about 50 Florida grapefruit growers. Ocean Spray was formed 75 years ago by three cranberry growers from Massachusetts and New Jersey. Florida grapefruit growers joined the Cooperative in 1976. Ocean Spray is North America’s leading producer of canned and bottled juices and juice drinks, and has been the best-selling brand name in the canned and bottled juice category since 1981. Ocean Spray posted fiscal 2006 sales of roughly $1.5 billion.


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Homebase sale set to disappoint
Sainsbury is set to wrap up the sale of DIY chain Homebase in time for Christmas, yet it may not bring the hoped-for seasonal cheer.
Chief executive Peter Davis is in exclusive talks with Schroder Ventures and a deal is expected to be announced next month, industry sources say.
But at £800m or just above, the price tag could disappoint shareholders who had been hoping for up to £1.2bn. One of the final hurdles to be overcome is whether or not Sainsbury, up 12p to 413 1/2p, will retain a minority stake.
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Approximately 200 RadioShack stores will close, and General
Wireless said it is evaluating options on the remaining 1,300 locations.
When Dene Rogers first took the reins as RadioShack CEO last April, he promised a new business model for the once-iconic tech retailer: In an era when far fewer hardware nerds build their own PCs and stereo systems, Rogers touted a new focus on omnichannel retail and e-commerce, expressing hopes the company could capitalize on its previous name recognition and dominance in the electronics space.
In a statement late Wednesday night, Rogers said RadioShack has made progress in stabilizing operations and achieving profitability since emerging from bankruptcy two years ago as a privately owned company. “In 2016, we reduced operating expenses by 23%, while at the same time saw gross profit dollars increase 8%,” Rogers said. “Over the same time, we integrated FedEx pickup/drop-off into 140 RadioShack locations, delivered to customers over 700,000 Hulu login pins and sold more than a million RadioShack private brand headphones and speakers.”
It wasn’t enough. Rogers blames poor performance of mobility sales, especially over recent months, for thwarting further progress. RadioShack also failed to dent the increasing market dominance of Amazon, which has grabbed massive market share in peripherals and batteries. Amazon accounted for a whopping 90% of the $5.6 billion growth in U.S. consumer electronics in 2015 according to a note from Deutsche Bank analysts last year. Rival Best Buy has mostly held its own in the face of that competition, but it continues to struggle with sales, and smaller retailers in the space, including regional player HHGregg (which also filed for bankruptcy this week), have faltered.
RadioShack is loaded up with debt, too, making its turnaround more difficult, though fewer stores will enable the company to operate more efficiently. RadioShack sought to restructure $1 billion in debt in 2015, selling 1,740-plus stores for $26 million to hedge fund Standard General at a bankruptcy auction that was marked by a battle with hedge fund Salus Capital, which had warned against the significant credit bid in that sale.
Source: Retail Dive


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In the News
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. This is the second year in a row that the cents-per-mile rate has decreased.
A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business meals has doubled for this year after a new law was enacted at the end of 2020. Here’s a rundown of those that may be important to you and your business.
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may wonder about the tax consequences.
Background on the loans


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Financially, things couldn’t get any better for NBA legend Michael Jordan. His brand, a Nike subsidiary, makes so much money globally that the basketball icon now earns tens of times what she earned when she was playing.
What began as a shoe deal with a young player ends up as a multi-billion dollar subsidiary of Nike: Jordan Brand.
The Jordan Brand not only sponsors a number of active NBA stars, but also many clubs in various leagues such as the MLB, NFL, NASCAR, WNBA and in European football: Paris Saint-Germain.
Looking back, Nike can thank its biggest competitor Adidas for the Jordan brand. As the? Well, in 1984, Michael Jordan wanted to sign with Adidas, but Adidas executives opted for bigger (then) players.
Front Office Sports reports: Jordan Brand generated sales of $19.4 billion over the past five fiscal years. In fiscal year 2022 it was $5.1 billion, Jordan himself received five percent as part of his contract with Nike.
Based on those numbers, Jordan is believed to have made $256.1 million last year from licensing his name to Nike. Jordan earned about $90 million in salary during his NBA career. According to Forbes, his net worth today is $1.7 billion.
The connection between the NBA legend and Nike dates back to 1984, when Jordan was in his freshman year in the pro league.
Originally posted by OpenCourt Basketball, Michael Jordan made far more than his entire career combined in 2022 alone.


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Byron Beck reports Just Out magazine is closing
(Page 2 of 2)
Our editorial “voice” is becoming more solidified and we are very pleased with our readers’ and advertisers’ response to the new format and the new content focus. Readers have given rave reviews in an on-line survey we’ve been doing for several months.
We have worked hard to make whole all advertisers who were left “un-whole” when Just Out closed under the former publisher. And we have grown advertising revenue to the point of profitability in the past 8 months.
Over all Just Out is on target per our original business plan, authored when we re-launched Just Out, as the new publishers, in June 2012.
Most important though is that Just Out is still in circulation as of 2013 — Just Out’s 30th Anniversary!!
The plan is to look back over the past 30 years each month — in celebration of three decades of serving the LGBTQ community, AND our allies.
In October 2013 – Just Out’s official 30th birthday - we will celebrate with a special edition of Just Out and a special event.
The Just Out website remains active.
Wendy Culverwell covers sustainable business, manufacturing and law.
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Nintendo decided to casually drop EarthBound on the Wii U Virtual Console earlier today, ending the years upon years of waiting for North American and European gamers. Well, it seems the 3DS Virtual Console is also basking in the glow of some good news, as Capcom has revealed the Game Boy adaptations of Mega Man will blast into the eShop soon.
Brett Elston, senior online and community manager at Capcom, made the announcement that will see Mega Man II, Mega Man III, Mega Man IV and Mega Man V all come to the Virtual Console in the near future. Of course, Mega Man: Dr Wily's Revenge is already available to download and soon fans of the Blue Bomber will be able to have the full collection.
As if that wasn't enough, Mega Man Xtreme and Mega Man Xtreme 2 are also coming to the 3DS eShop, both of which are spin-offs of the Mega Man X series and were released on the Game Boy Color.
Capcom hasn't revealed any specific dates just yet but we imagine the games will be staggered over the coming months in the same way the NES iterations were.
Mega Man is celebrating his 25th anniversary this year and although there's been no news on a new title for him, at least we'll soon be able to jump into his portable past.
Has this news got you excited? Let us know your thoughts on these titles in the comment section below.