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Interest rate cuts will hurt retirees
The Reserve Bank of Australia has handed down an interest rate cut that will cause self-funded retirees a lot of financial pain, according to the President of the Association of Independent Retirees Mr Wayne Strandquist.
“Fixed interest investment forms a substantial part of a retiree’s superannuation and private savings, particularly in the latter years of retirement”, Mr Strandquist said. “The Reserve Bank cash rate reduction will put more downward pressure on term deposits rates with cash held in bank accounts paying almost zero interest.
“When retired, risk tolerance reduces over time to favour more conservative investments with less volatility and less risk like term deposits, bank savings accounts and other fixed interest investments. The reduction in fixed interest by the Reserve Bank continues a trend that has seen term deposit rates fall to historic lows, to a fraction of what they were when many retirees left the workforce.”
“After bank account fees are charged and zero-interest paid, retirees are effectively paying the banks to hold their savings”, said Mr Strandquist. “This negative return will further lower the living standards of retirees and require larger drawdowns from their retirement savings until they are forced to rely on the Age Pension”, Mr Strandquist explained.The Association is calling on the government to urgently reduce the current deeming rates to reflect the fall in bank deposit rates.
“The 2.25% government deeming rate is over three times the interest rate that can be actually earned today by retirees on a two-year term deposit with the major banks,” Mr Strandquist pointed out. “To earn returns that exceed the upper deeming rate, retirees are forced to consider riskier investments including a volatile share market. At the end of the day, retirees just want the secure, reliable, adequate income over a longer retirement that was proposed in the government’s Retirement Income Framework in 2016 and we are still waiting.”
Ground-breaking research on future advice
The Financial Services Council (FSC) has launched a research report by financial consultants Rice Warner offering some radical ideas for restructuring the model for financial advice that will start a policy debate on how to make advice more affordable and accessible.
Rice Warner proposes a future financial advice model which includes:
- All advice to be one of two categories – strategic advice or financial product advice
- New definitions of financial advice – general information and personal advice separated into simple personal advice, complex personal advice, and specialised advice
- New principles to refocus the system – simplification, affordability, accessibility, consistency, and quality of advice
- Less documentation – for example, allowing a Fact Find and a Record of Advice for the provision of Simple Personal Advice
- Realistic and less costly levels of compliance
- Tax deductibility for financial advice.
FSC CEO Sally Loane said quality financial advice is needed now more than ever as the economic impacts of the coronavirus pandemic are felt across the country.
“The Rice Warner Future of Advice report starts an important policy debate on how we can re-build a simpler and more affordable advice industry,” Ms Loane said. “The research examines both the need and value of advice and shows benefits of financial advice to the health and wellbeing of consumers, as well broader economic benefits such as reduced long-term expenditure on the Age Pension.”
The FSC will engage extensively with stakeholders, including Australia’s financial advisers, to consider the research ahead of launching a policy document or Green Paper on Financial Advice next year, a critical step in policy development.
“The aim is to build a new model for financial advice which not only makes professional quality advice more affordable and accessible for consumers, but also removes the mass of costly compliance and regulatory burden on the sector,” Ms Loane said.
“With advisers leaving the industry in record levels – Rice Warner reports 15% last year and an anticipated fall of a further 36% over the next five years – we need to act now to change the system.”
On 17th November ASIC also released a consultation paper titled ‘Promoting access to affordable advice for consumers’ which invites the advice industry to put forward “the issues and impediments relating to the supply of good quality affordable personal advice, and the practical steps that can be taken by ASIC and industry to improve consumer access to good quality affordable advice.”
ASIC Commissioner Danielle Press said, “Good-quality affordable personal advice may help consumers make better financial decisions, especially during times of heightened vulnerability. We welcome feedback from the financial advice industry and others with an interest in making advice more accessible to consumers.”
Missed or unpaid super
The Australian Tax Office (ATO) has reminded businesses that COVID-19 may continue to affect them and their clients, with some missing regular payments such as their employees’ super guarantee (SG).
If clients have missed the October 28 due date or underpaid the SG, they need to lodge a Superannuation Guarantee Charge Statement by November 28 to avoid penalties. If they cannot pay in full, a payment plan can be set up to suit their clients’ circumstances.
For more information, go to ato.gov.au.
More workers support ESG factors
New research reveals more superannuation fund members want their investments to have a positive impact on the planet.
A survey released this month by the Association of Superannuation Funds Australia (ASFA) found 64% of Australian workers want their superannuation fund to take action on environmental issues and gender diversity.
More than triple the number of respondents said they approve of superannuation funds taking action on more open corporate governance and climate change, with 61% of millennials saying they would be more likely to join a fund offering investments on climate change.
The online survey also showed an overwhelming majority of Australians believe the superannuation guarantee should increase from 9.5% to 12% as scheduled.
Based on the current Age Pension amounts of $67 a day for singles and $101 for couples, 75% said they would struggle to live comfortably on the pension alone.
The majority of respondents (52%) expect to live on a combination of superannuation, savings and the age pension.
2020 Shonky Awards results
In the annual hall of shame for businesses pushing faulty products, partnerships and prices, this year’s Choice Shonky Award goes to AMP for its “grossly underperforming superannuation division”.
Once a giant in the Australian financial services sector, AMP now has the lowest customer satisfaction ratings on record. In 2018, it had more than a million inactive accounts across its Retirement Trust and Super Savings Trust products.
Choice CEO Alan Kirkland says this year’s Shonky Awards had a string of surprises, including floor cleaners that “performed worse than water”.
Harvey Norman was also called out for its partnership with Australian financial services company Latitude Finance. Mr Kirkland said customers believing they were buying expensive products on interest-free terms later ended up trapped in debt with Latitude, paying very high interest rates.
“We know from financial counsellors that many people actually end up in deep financial trouble because of these deals,” Mr Kirkland said. “It’s an award because we don’t think people should be pushing expensive credit card products on the floor of retail stores.”
Rejecting the award, a spokesman for Latitude Finance said the company undertook rigorous credit checks on customers and that the vast majority of them paid off what they owed within the promotional period and therefore paid no interest whatsoever.
For the full list of the 2020 winners, visit www.choice.com.au/shonky-awards.


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BANGALORE: Other, faster technologies like WiFi and WiMax became available — but Bluetooth, the original short-range solution for sending voice and data wirelessly refuses to die. In fact, on its tenth birthday, it continues to gain millions of users every year — and estimates put the number of Bluetooth-fuelled devices, bought during the decade at over 2 billion.Germination
When five companies in the telecom, computer networking, auto electronics and industrial automation came together in 1998, in the Lund (Sweden) office of Ericsson where the core technology was developed, they decided to name the system after the Danish King Harald Bluetooth, who united Scandinavia in the 10th century AD. They hoped their offering would bind the PC and mobile communities, likewise.
The formal standard for Bluetooth came in 1999 — and the technology went into some cell phones and PCs a year later. It linked printers wirelessly to computers in 2001; helped create cordless keyboard and mouse in 2002; allowed wireless upload of music to MP3 players in 2003 and fuelled cordless headphones in 2004. Bluetooth wrist watch-computer-phones are a more recent innovation. As long as distances are short-- around 10 metres — Bluetooth is still a compelling way to connect popular consumer devices. Typically, it consumes very little power — about a milliwatt — and offers decent data rates: 3 megbits per second.Marketing Tool
Today, Bluetooth is built into virtually every make of portable and desktop personal computer; mobile phone and music player, allowing users to create what is being called PAN or Personal Area Network — their own version of a Local Area Network or LAN — linking them to their sources of “infotainment” at home or on the move.
In India, the ability of many mobile phone owners to latch on to a Bluetooth network has created a new marketing tool: Bluetooth hotspots have been created in leading malls in the metros. As you walk through Bangalore’s Forum Mall or Commercial Street or Pune’s Shipra Mall for example, you may receive a message from the shops you frequent, letting you know of any new arrivals or special offers. You can also use the hotspot to search for shops selling what you needs — and receive directions that will guide you to the shop.
Indian technology players like Convergent Communications or Telibrahma specilise in such solutions. The airports in Delhi, Hyderabad and Bangalore are slated to become the next Bluetooth zones where sellers can reach customers in a focussed manner.
When E.M. Forster wrote “Only connect” as the epigraph or title-page quotation of his novel “Howards End,” in 1910, he had human interaction in mind.
A century later, Bluetooth is a triumphant technical realization of his dream
6 months ago

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The Dow Jones fell on Friday after Trump cast doubt on the tariff outlook. Despite this, Nordea expects smooth sailing for the stock market.
Berkshire Hathaway is holding $128.2 billion in cash. With no big deal in four years, Buffett seems to be unfazed by the stock market rally.
The S&P 500 achieved a new all-time high following a positive jobs report. Yet, the gold price has risen to levels unseen since 2013.
JPMorgan Global Head of Macro Quantitative and Derivatives Research Marko Kolanovic is says the S&P 500 is headed 5% higher in the near-term.
Amazon’s bets on grocery are a big part of the firm’s strategy to grow its ecosystem and increase value for Prime members.
Crypto has fundamentally transformed the exchange of value, but the core tenets of investing remain the same as in the stock market.
The Dow flinched in response to weak retail sales data and a sharp rebuke from Beijing. Meanwhile, Trump warned of a stock market “crash.”
Warren Buffett can prepare for a stock market crash with these three recession-proof picks that did well during the last crash.
Warren Buffett appears to be preparing for a stock market crash by hoarding cash. His actions add to a growing list of concerns for investors.
For stock market bulls eager to watch the S&P 500 record a new all-time high, the weak US economy is a “risk on signal.”


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Stuart Ford's AGC Studios has hired Michael Rothstein as president of worldwide distribution where he will oversee the studio’s worldwide sales and distribution activity.Rothstein was previously president of international sales and distribution at Ford's IM Global and, before that, president of international sales at the Weinstein Company.Thursday's news follows the March 12 announcement that Academy Award-winning feature film producer Greg Shapiro is re-teaming with Ford at AGC Studios as head of film. AGC Studios was announced in February with significant...
Born in the UK, Ford has a BA and an MA in Law from Oxford University. He started out as an entertainment attorney in London before moving to New York in 1997 to join Harvey and Bob Weinstein’s Miramax Films, where he held a variety of senior roles, including co-head of the company’s acquisitions unit and co-head of the company’s international sales and distribution operation, Miramax International.
In 2007, he founded IM Global, which began as an international sales company that grew into a truly global producing, financing, distribution and licensing studio over the course of nine years, with backing from India’s Reliance Entertainment and Donald Tang’s Tang Media Partners (TMP), and offices in Los Angeles, New York, London, Munich, Mumbai, Mexico City, Beijing and Shanghai. It has been active in the Bollywood, Latino and Chinese film industries, launching Latino sales arm Mundial in partnership with Canana, LA- based Latino Talent management company Valor Entertainment, and Go Global, a Beijing-based International Marketing and PR Company.
Aside from acquiring a majority stake in IM Global in a deal reportedly valued at some $200 million, TMP is also backing a new TV production joint venture with China’s Tencent, IM Global and Reliance. He is is currently buoyed by two strong awards-season contenders on the IM Global slate: Mel Gibson’s “Hacksaw Ridge” and Martin Scorsese’s “Silence.”


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Certified Electronics Recycler Adding Jobs in California
Metech Recycling, a national leader in electronics recycling, added jobs at several of its facilities during the last quarter, including its Gilroy, CA plant.
Gilroy, CA – October 27, 2011. Metech Recycling, a national leader in electronics recycling, added jobs at several of its facilities during the last quarter, including its Gilroy, CA plant. Fueled by increased demand from businesses and government entities that require certified e-Stewards® recyclers to process and recycle materials from electronic waste, Metech Recycling increased their number of employees by 12% in the past two months. The company also employs temporary workers and those jobs have also grown in recent months. Job growth at Metech Recycling increased 10.5% in 2010. Employment trends for 2011 indicate an annual jobs increase of more than 12%. The company is adding second shifts to process material for recycling at its plant in Gilroy, as well as Omaha, Salt Lake City, and Creedmoor, NC. “More and more government agencies, corporations and residents realize the health and environmental dangers associated with disposing electronics in landfills or incinerators,” stated Chris Ryan, President of Metech Recycling. “As the federal government promotes using certified electronics recyclers as part of EPA’s National Strategy for Electronics Stewardship we expect to see the U.S. lead the world in greater protection of environmental resources while creating additional jobs.” Certified recyclers are regularly audited by accredited, independent third-party certification bodies to validate they manage electronics in a secure, safe, and environmentally responsible manner. Nearly 95% of materials in electronic devices can be securely recycled and put back into the manufacturing stream, which also reduces mining of rare earth metals. The EPA’s National Strategy for Electronics Stewardship (www.epa.gov/epawaste/conserve/materials/ecycling/taskforce) promotes government and industry partnerships to responsibly recycle electronics while expanding a domestic industry that protects public health and creates jobs. US Congressman Jim McGovern stated, “Metech Recycling is creating a model for other companies to follow; environmental stewardship combined with green-collar job creation.” Metech Recycling (www.metechrecycling.com) is a national leader in electronics recycling that provides complete materials processing and certified documentation of data device destruction. The company operates recycling facilities in California, Utah, Colorado, Nebraska, North Carolina, and Massachusetts. Metech Recycling is ISO 9001:2008 certified and ISO 14001:2004 certified and is a certified e-Stewards® recycler. #######
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asiCast 27 – Online video and Pay TV
There have been a number of announcements and developments recently in the online video and Pay-TV markets. Amazon has announced it plans to split out Prime Video, the better to compete with Netflix. Netflix itself posted results that seemed pretty good, but these were largely driven by the very rapid expansion the company has undertaken into new markets and there seems to be some concern that this growth will slow down. Meanwhile Google has also announced its plans to invest in original content as all players seek to chase down the next great blockbuster. In this asiCast, CCS Insight Director Paolo Pescatore discusses these developments with our Media Technologies Director, Graham Lovelace, and considers them in the light of the performance of Pay-TV operators.
To listen to the interview, just press play below or click here to download
You can listen via our Soundcloud page
We are also in iTunes. Just click here and don’t forget to press the ‘subscribe’ button to get the latest editions automatically.


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MANY POLITICIANS DOES IT TAKE TO CHANGE A LIGHT BULB?
By Jon Christian Ryter
August 1, 2007
Following the ecoalarmist lead of Australia and the Canadian province of Ontario, Lloyd Levine, the California assemblyman who heads the Assembly's Utilities and Commerce Committee wants California to outlaw the sale and use of incandescent light bulbs. Thomas Edison should be doing cartwheels in his grave. Levine, like a whole parcel of other extremist environmentalists, thinks he can help solve global warming by banning the incandescent light bulb. The rhetoric is good for green votes from extremist ecoalarmists�but not much else. What Levine really thinks is that, in one of the greenest States in the country, his extremist views might land him in the governor's mansion in Sacramento.
On April 23 of this year, the Utilities and Commerce Committee voted 7 to 2 to bring to the floor of the California Assembly a measure than would ban the sale, distribution or use of incandescent light bulbs in the State�under the guise of combating global warming. According to Levine, the radical environmentalists and the lobbyists for the fluorescent lighting industry who are pushing for a global ban, by eliminating incandescent light bulbs, the country will reduce energy consumption by some $18 billion per year. And, they claim, it will reduce greenhouse gas emissions by more than 10 billion tons a year. And, the move will theoretically save homeowners between $80 and $180 per year on their electric bills. In reality, The downside is the alternative being pushed by the environmentalists and the lobby for the fluorescent lighting industry.
If ecoalarmists like Al Gore, Jr. had their way, the electric light would already be banned and the human race would be using candlelight, coal oil or kerosene lamp luminance since the alternative, fluorescent lighting, is far more dangerous and unhealthy that any other form of lighting known to man. However, their lobbyists are doing a much better job of convincing the politicians that since fluorescent lighting is cheaper�and cooler�than any form of artificial lighting, it should replace the incandescent light bulb worldwide. Levine's political adversaries in the Utilities and Commerce Committee have criticized Levine and the Democrats for attempting to enact a law that will pose an environmental risk to every Californian for what will be, at best, a symbolic gesture to combat greenhouse gases and reduce oil consumption to benefit the fanatical oil conservation penchant of the Seven Sisters.
Eleven days before the Utilities and Commerce Committee of the California Assembly voted to push a very bad bill to a floor vote, an article in the Ellsworth (Maine) American should have been a caution flag for Levine�and for politicians in the nation's capital. On April 12 the newspaper reported that an Ellsworth housewife, Brandy Bridges, dropped and shattered a fluorescent tube-bulb on the carpeted floor in her daughter's bedroom. Aware that compact fluorescent light bulbs [CFL) (like those shown on left) are potentially hazardous, Bridges called the local Home Depot store to ask for advise. Home Depot told her that the CFL contained mercury and advised her to call the Poison Control hotline.
The hotline had her contact the Maine Department of Environmental Protection. The DEP sent Andrew Smith, a toxicologist, to her home. He sealed the room with plastic and told Bridges it would cost about $2,000 to clean up the mess from the one toxic CFL devise that broke on her floor. The levels of mercury toxicity in the downstairs living area were safely under 300 ng/m3. However, the mercury levels spiked to 1,939 ng/m3 in Shayley Bridges bedroom. Bridges daughter could not sleep there because of the toxicity levels were too great. Bridges, a single mom with an overcrowded house and limited financial means, filed a claim with her homeowner's policy. The insurance company denied the claim because mercury is a pollutant that wasn't covered in her homeowner's policy. Smith said he believed the contamination was localized at the spot where the bulb broke, adding that mercury is dangerous to anyone who has experienced long term exposure.
Fluorescent lighting, which gives off minute particles of x-ray and other electromagnetic pollutants including mercury, poses health risks that have never been adequately researched or quantified. Researchers, the world over, have determined that fluorescent lamps pose a danger. In addition to headaches and eye strain, fluorescent lighting has been linked to anxiety, attention deficit disorders, depression, sleep disorders and skin cancer. None of the potential threats are inherent with incandescent lighting.
The University of Sydney's (Australia) Melanoma Clinic has determined that those who work indoors under fluorescent light are twice as likely to get skin cancer�much more than those who frequently sunbathe on the beach. Quoting statistics from the Sydney study, the University of Connecticut Health Center wrote in the Dec. 2005 issue of National Institutes of Health News that "...if the link between light exposure and cancer risk can be confirmed, it could have an immediate impact on the production and use of artificial lighting in this country."
Sadly, I don't think so. I don't think so because the bureaucracts in the US Dept. of Energy have estimated�on their "magic computers"�that switching from incandescent light bulbs to CFLs will eliminate the need for 80 coal-fired electric power plants in the United States, and reduce fossil fuel emissions by 159 million tons per year. This is, of course, the same type of ecological mumble-jumble that Al Gore used in putting together his Inconvenient Truth. Lots of speculation and not much truth. Environmentalists build worse case scenarios based not on fact but on what would necessarily have to occur in order for the conditions they perceive will exist if radical change is not implemented by the time they estimate the latest ecological disaster will happen. (By the way, none of the ecological disasters the radical environmentalists predicted over the last 100 years have happened. The batting average of the ecoalarmists are "zero.")
And, even though Thomas Edison might be convulsing in his grave over the planned demise of the incandescent light bulb he invented, America's largest lamp manufacturers aren't. General Electric, Osram-Sylvania, and Philips have invested millions in the development of CFLs. Now, with "green" hitting fever pitch in the United States since the passage of Public Law 109-058, the Energy Policy Act of 2005 that was signed into law by President George W. Bush on Aug. 8, 2005, the left-leaning US Senate recently passed The Renewable Fuels, Consumer Protection and Energy Efficient Act of 2007 that includes a host of of green incentives pushed by the environmental lobbyists who are funded by the Seven Sister and their globalist friends who understand that in every manufactured environmental crises are profits.
The outlawing of the incandescent light bulb and the forced conversion of mankind to harmful fluorescent lighting will provide a trillion dollar windfall to General Electric, Osram-Sylvania, and Philips during the first year. The cost to consumers will be between fourfold to tenfold. You can buy four 100W GE or Sylvania light bulbs at your neighborhood supermarket or Lowes or Home Depot for $1 to $3 dollars. One fluorescent light bulb costs anywhere from $3 to $25. If you are using fluorescent tube-bulbs, four "bulbs" can cost up to $100. The fluorescent bulbs (on the left) retail from $3 to $6 each. Four of them will cost the consumer from $12 to $24. The manufacturers argue that because the fluorescent bulbs last so much longer and cost 75% less to operate, the cost differences are a wash. (Home Depot, the home building chain that last year began running their radio help wanted ads in Spanish to attract illegal alien job-seekers announced, in April of this year, that they would no longer sell incandescent light bulbs by 2011.)
The Renewable Fuels, Consumer Protection and Energy Efficient Act of 2007 which was recently passed by the US Senate�if it is passed by the House and signed into law by the president�will include new lighting efficiency standards and will effectively phase out the general use of 100W and 75W incandescent light bulbs. Initially 25W, 40W and 60W light bulbs will not be phased out since most of the smaller watt bulbs are decorator items and there is no economical replacement.
The manufacturing industry is alarmed by what they see happening. General Electric spokeswoman Kim Freeman of the company's lighting division argued than banning any technology will stifle innovation. She argued that a free enterprise system is better served by establishing minimum performance standards that would force manufacturers to make existing products meet the new standards�as the government has done several times with the auto industry.. Despite efforts by the lighting industry to reach an accord with Congress, the government is determined to outlaw 100W and 75W light bulbs even though industry executives have assured Congress they can create an incandescent light bulb that will rival the fluorescent bulbs for energy savings.
Several parallel pieces of legislation are floating around in the House. One of those bills has made it through the House Energy & Commerce Committee and is awaiting debate in the full House. Both the House and Senate versions of this legislation contain a provision that declares that the federal law will supersede all State versions to make sure there are not multiple "standards" that the lighting industry must contend with. So while California is debating the "green" lighting situation and will likely become the first State to outlaw Edison's light bulb, whatever law they enact will be superseded by the federal version that lobbyists for the National Electrical Manufacturers Association and the Lighting Efficiency Coalition, the EPA, and a dozen or so environmental groups have fought hard to craft.
While many of the critics of the CFL are concerned only about the cosmetics of compact fluorescent lighting�the color hue of fluorescent compared to incandescent light, environmental critics have raised concern about the trace amounts of mercury in each CFL light bulb�about 5 mg�of a substance that is very toxic. Proponents of the CFL argue that the coal-fired power plants release mercury vapors when they burn coal, and that a coal-fired plant powering an average compact fluorescent lamp will release 3.3 mg of mercury into the atmosphere compared to releasing 13.6 mg of mercury the same period that an incandescent lamp burns. This is pure smoke and mirrors since the mercury emitted from electric power plants into the atmosphere�about 48 tons per year�is not considered directly harmful as the mercury in a compact fluorescent lamp. Break one and you have the problem experienced by Brandy Bridges. Osram-Sylvania said all of the major light bulb manufacturers are committed to reducing the amount of mercury contained in CFLs. In the meantime, they said, they have partnered with the environmental services company, Veolia Environment and with FedEx to safely dispose of the burned out CFLs in your home. If you recall, there has never been a need for light bulb manufacturers to partner with an environmental company to provide special packaging to safely dispose of an incandescent light bulb. When it burns out, you throw it in the trash can. When you are dealing with the bureaucracy and with unscrupulous environmentalists who lie more often than they tell the truth, it worries me when they tell me CFLs are safer than traditional light bulbs.
When you look at the Maine Department of Environmental Protection website you will find a question" "What if I accidentally break a fluorescent bulb in my home?" The website advises you not to try to vacuum it up because a household vacuum cleaner will spread mercury vapors throughout the house�and contaminate the vacuum cleaner. The website advises the homeowner to [a] ventilate the room, [b] lower the temperature [c] and wear a dust mask, goggles and coveralls when you clean up the broken CFL. With a standard light bulb? A broom and dust pan is sufficient. Like you, I am eagerly awaiting the mandated transition from Tom Edison's light bulb to Al Gore's ecoalarmist nightmare.
In February of this year Australia became the first nation to mandate the transition from the light bulb to CFLs in a three year phase-out that will result in an outright ban of the traditional light bulb by 2012�in an effort to reduce greenhouse gas emissions. The Australian Minister of the Environment, Dr. David Kemp said the transition could cut the country's greenhouse gas emissions by 4 million tons by 2012 (based on theoretically cutting the need for "X" amount of electricity�although everyone knows that the demand for more electricity by industry worldwide is increasing, not decreasing. Coal-fired electric plants will be dramatically increasing their output of electricity to meet the demands of a modernizing third world. Like everything else the barons of industry and the merchant princes do, the industrialized nations will be expected to foot the bill.
Canada has also announced it will ban the sale of what Natural Resources Minister Gary Lunn described as "ineffective light bulbs" by 2012 as well. The Guardian newspaper in London said England is moving in the same direction and will also ban incandescent light bulbs. The Euroepan Union has notified its 27-member States that they have two years to convert to energy-efficient lighting. German Chancellor Angela Merkel, who chaired an energy summit in July, told the media that "...we're not saying people should throw out all the light bulbs in their house today, but people should start looking at what's in the shops." it was clear, when she spoke, that Merkel is not a fan of energy-efficient lighting when she said: "Most of the light bulbs in my flat are energy-saving bulbs. They're not quite bright enough. When I'm looking for something I've dropped on the carpet, I have a bit of a problem."
So, just how many politicians does it take to change a light bulb? A simple majority. Sadly, banning the light bulb in favor of a world luminated by compact fluorescent lighting is a politiccally-correct effort in futility. At best, the impact CFLs will have on the environment will be so scientifically minimal that the only way it will ever be measured will be in the scoring of political points.
the final analysis, not only is the quality of light emitted from compact
Fluorescent lighting poor, it can't match the light spectrum of incandescent
light. Over the next couple of decades, expect to see more Americans
with vision problems. In addition, the health risks caused by fluorescent
lighting are very real. A decade or two into a world of fluorscence,
skin cancers and radiation-related illnesses will become more prevalent
and the medical community at the end of this century�if we escape universal
healthcare�will be advocating the return to the safe incandescent lamps
of the past, with the lobbyists for the oil industry still be moaning
the impracticality of Tom Edison's light bulb.
� 2007 Jon C. Ryter - All Rights
[Read "Whatever Happened to America?"]
Jon Christian Ryter is the pseudonym of a former newspaper reporter with the Parkersburg, WV Sentinel. He authored a syndicated newspaper column, Answers From The Bible, from the mid-1970s until 1985. Answers From The Bible was read weekly in many suburban markets in the United States.
Today, Jon is an advertising executive with the Washington Times. His website, www.jonchristianryter.com has helped him establish a network of mid-to senior-level Washington insiders who now provide him with a steady stream of material for use both in his books and in the investigative reports that are found on his website.
E-Mail: [email protected]
If ecoalarmists like Al Gore, Jr. had their way, the electric light would already be banned and the human race would be using candlelight, coal oil or kerosene lamp luminance since the alternative, fluorescent lighting, is far more dangerous and unhealthy that any other form of lighting known to man.


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As news of England’s long-anticipated kit deal with Umbro was finally confirmed this morning, leaked images started circulating on social media of what appears to be the first Umbro-branded England gear being worn by two of the team’s biggest young stars.
The image in question (shown in full below) shows England flankers Sam Underhill and Tom Curry wearing England kit bearing the Umbro logo, which are believed to have come from a quickly-deleted Instagram story post.
The kit in question is striking, with a white and grey ‘shattered glass’ pattern with the famous red rose on the left and and Umbro’s logo on the right.
It seems unlikely that this is actually the new England on-field kit – a brand going for such a striking look straight out of the gate would be a bold and polarising move, and seems to fly in the face of the retro kit stylings that rejuvenated Umbro’s reputation in soccer.
It’s been known that England players have been testing Umbro kit behind closed doors in recent months in preparation for the brand taking over, and it seems likely that this is either a ‘testing’ jersey, or some training kit – something that the use of the brand’s famous 90s ‘Pro Training’ logo would back up.
Whatever this shirt is, it still gives us an interesting insight into what Umbro is planning with England’s future kit – the clean, simple round-neck collar, the fusing of retro and modern sensibilities, and of course the use of grey as well as white.
We’ll know for sure when Umbro reveals England’s new kit later on this year – though as yet no date has been confirmed for the launch.
What do you think of this first glimpse at Umbro’s England gear, England fans? Tell us your thoughts in the comments below…


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Investigators tracing the routes of two bottles of Extra-Strength Tylenol containing cyanide-laced capsules have found that both were handled at the same distribution center in Pennsylvania two weeks apart last summer.
Federal officials and the product's manufacturer said the chance that the tainting occurred at the distribution facility was remote, but the finding prompted investigators to examine that possibility as part of their sweeping inquiry.
In another development, the Westchester County District Attorney, who is investigating the fatal poisoning of 23-year-old Diane Elsroth on Feb. 8, said that after extensive tests, officials of the Federal Bureau of Investigation believe that the seals on both tainted bottles were not broken after they left the factory. No Comment From F.B.I. The District Attorney, Carl A. Vergari, said he was thus inclined to believe that the tainting occurred ''at the plant'' and was not the work of someone who put potassium cyanide in the capsules and then placed them on the shelves of two stores in Bronxville, N.Y.
Jack French, a spokesman for the F.B.I. in Washington, declined yesterday to confirm or deny Mr. Vergari's assertion.
''We're not commenting on anyone else's comments,'' Mr. French said. ''We're not commenting on the Tylenol case other than to say we are devoting all our resources to it. We are certainly not commenting on any evidence or the investigation thus far.''Continue reading the main story
Asked why, in view of Mr. Vergari's statement, the bureau had not called on the manufacturer to issue a nationwide recall, Mr. French said he could not address himself to ''theoretical'' questions.
Officials of the Federal Food and Drug Administration and of the manufacturer, the McNeil Consumer Products Company, a subsidiary of Johnson & Johnson, said that the weight of evidence suggested that the crime was a local one.
The two bottles each apparently contained five adulterated capsules, investigators said. One was manufactured in Pennsylvania and the other in Puerto Rico, company officials said. And tests by the F.D.A showed that the cyanide in both bottles was 90 percent pure and had virtually the same chemical makeup, suggesting it had come from a single source.
''The most plausible explanation is tampering at the local level,'' said F.D.A. Commissioner Frank E. Young. Continued Testing
There were no major breakthroughs yesterday in the hunt for the killer. But F.D.A. laboratory technicians continued testing tens of thousands of capsules. And city, state and Federal inspectors continued scouring stores and warehouses across the metropolitan area to remove samples for testing.
New York City inspectors yesterday visited 350 stores and found 65 still selling Tylenol capsules, despite a ban by the city's Health Department. Marvin Bogner, a department spokesman, said 215 stores had been found with the product since inspections began Friday. The stores were not penalized, he said, but will be subject to a $500 fine if caught again.
The inquiry took a new turn yesterday with the disclosure that the Pennsylvania distribution center handled two bottles found to have cyanide-laced capsules.
Robert Kniffin, a spokesman for Johnson & Johnson, said that the two bottles had been shipped from a McNeil distribution center in Montgomeryville, Pa., near Philadelphia, about two weeks apart last summer.
The bottle from which the capsules that killed Miss Elsroth came was manufactured at a Fort Washington, Pa., facility on May 17, 1985, arrived at the distribution center Aug. 21 and was shipped out Aug. 22 with a batch of 209,000 bottles, Mr. Kniffin said.
This bottle, with the lot number ADF 916, eventually wound up on the shelves of a Bronxville, N.Y., A. & P. store, where it was sold to the family of Michael Notarnicola, of Yonkers, whose friend, Miss Elsroth, of Peekskill, died of the cyanide poisoning. It was believed to have contained five tainted capsules - two that Miss Elsroth took and three found in the bottle.
The second bottle, discovered with tainted capsules Thursday, was manufactured in Dorado, P.R., on July 17, shipped by sea Aug. 22 to either Newark or Baltimore and trucked to Montgomeryville, where it arrived Sept. 5. It was shipped out the next day with a batch of 84,000 bottles, Mr. Kniffin said.
This bottle, with the lot number AHA 090, wound up on the shelves of a Bronxville F.W. Woolworth store a few blocks from the A. & P. where the first was sold. The second bottle was taken off the shelves early last week as part of the inquiry, and was found by laboratory technicians Thursday to contain five tainted capsules. Three Distribution Points
Mr. Kniffin said that the Montgomeryville center was one of three McNeil distribution points for Tylenol products. The others are at Round Rock, Tex., near Austin, and Glendale, Calif. McNeil also has three Tylenol manufacturing sites, at Fort Washington, Pa., Dorado, P.R., and Round Rock, he said.
The distribution centers ship generally, though not exclusively, to their respective regions of the nation, Mr. Kniffin said. Thus, shipments from Montgomeryville, 15 miles north of Philadelphia, go to the eastern region of the nation, he said.
While the two tainted samples were handled at the same place only two weeks apart, Mr. Kniffin said the company considered it unlikely that the tainting had occurred there because each bottle was usually safeguarded by five seals. Seals on Bottles and Boxes
In addition to the triple seal on each bottle, he said, the bottles at the distribution center are typically covered by two additional sealed wrappings: a clear plastic binder that is heat-sealed around all sides of six bottles, and a shrink-wrapped plastic binding around groups of cartons, each of which contains 12 groups of six-packs.
John A. Norris, the Deputy Commissioner of the Federal Food and Drug Administration, said that he also doubted that the adulteration had occurred at the distribution point. If the tainting did occur there, he asked, what would be the probability that the two bottles would wind up in stores a few blocks apart in Bronxville?
He said investigators were pursuing the possibility, as they were pursuing hundreds of other leads in the case, but he said he did not regard it as likely to lead to a suspect. F.B.I. Conducts Tests
Mr. Vergari, the Westchester District Attorney, on Friday discounted the possibility that the cyanide had been introduced to the capsules locally. Yesterday, explaining his belief, he said that his office had been informed by the Federal Bureau of Investigation that the seals on both bottles had not been broken after they left the factory.
He said investigators should thus not eliminate the theory that the capsules were tainted at the point of manufacture. He had said Friday that, despite lot numbers indicating two manufacturing sites, it was possible for a bottle of Tylenol to be made at the Pennsylvania plant and carry the Puerto Rico plant's lot number.
Mr. Vergari said that the two bottles were sent to the F.B.I. labs to determine ''to a reasonable degree of certainty'' through microscopic examination ''whether the metal foil that's heat-welded to the top of the bottle has been tampered with after it left the factory.''
''And they say in both cases that their laboratory examination reveals that it was not,'' he said, ''that these bottles were not tampered with after they left the factory; that, ergo, the contamination was done at some time during the manufacturing process before the seal was placed on it.''
''What could be clearer than that?'' he said.
It was unclear when the adulteration might have occurred. Officials of the F.D.A. said that the cyanide would not degrade quickly, and Mr. Vergari said he had been advised the potency of the poison could last almost indefinitely. Earlier reports from the Westchester County Medical Examiner's office had said that potassium cyanide would erode the gelatin-based capsules within 8 to 10 days.
Mr. Vergari said he would send investigators later this week to the McNeiLab plant at Fort Washington to look into the possibility that the adulteration had occurred there. He said their review would examine manufacturing processes and might include employee personnel files.
Mr. Kniffin said that the company had begun a review of the files of about 30,000 of its employees in the United States, and was examining its production, storage and distribution processes. 'Steady Daily Progress'
Mr. Norris, in a separate interview, said the F.D.A.'s inquiry was making ''steady daily progress'' in the chemical analysis of the capsules and other areas that he declined to specify.
By today, he said, technicians will have tested 95,000 capsules and would continue with the examination of new supplies this week. By yesterday, sales of the capsules had been banned in 18 states, including New York, New Jersey and Connecticut. The F.D.A. and Johnson & Johnson also warned people across the nation not to buy Tylenol capsules.
In addition, the manufacturer has suspended the sales and production of all forms of its Tylenol capsules and has asked retailers across the country to stop selling them until further notice. Non-capsule forms of the product are not included. The company has also issued a $100,000 reward for information leading to the arrest and conviction of the killer.
The company has not issued a nationwide recall of the capsules, in part because it would ''remind the terrorist he won,'' as one official put it. In 1982, following the deaths of seven people in the Chicago area who took cyanide-laced capsules of Tylenol, the company recalled 31 million capsules across the country.Continue reading the main story


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Aluminum extrusions in transition
Aluminum extruders in the United States represent one segment of the bath-enclosure industry that has seen dramatic changes as a result of imports, said Richard S. James, vice president and general manager of the Aluminum Group at Loxcreen Co. in Roxboro, N.C., during a frank and well-documented presentation at the Bath Enclosure Manufacturers Association annual meeting during GlassBuild America in Atlanta Sept. 14.
James estimates that low-cost overseas aluminum has replaced production from 15-to-20 North American aluminum extrusion lines in the last four or five years. Meanwhile, he warned, consumers now have to deal with long lead times from China, India, Malaysia, Vietnam and other developing countries. As a result, “some users who went overseas now dual-source [their components] to protect against long lead times. We've reached the bottom and will see modest gains in North American-supplied demand and modest price support. Meanwhile, our base is shrinking,” because the aluminum used in bath enclosures has fallen by 25 percent as frameless construction grows in popularity.
Loxcreen produces custom aluminum and vinyl extrusions, and stocks standard extrusions, coil, stainless steel and a complete line of building products.
In tandem with these trends, a large number of extruders fight over the customer base, James said. The cost for foreign suppliers wanting to enter the U.S. marketplace has gone down, resulting in more imports, he noted. “Pricing has gone up from the Chinese, but overseas supplies from the other [Asian] sources keep price increases modest,” he said.
At the same time, bath-enclosure manufacturers who have in the past exclusively sought aluminum extrusions from overseas now start to rethink their sourcing decisions “and are now dual-sourcing to protect against long lead times and supply problems. They want at least one North American manufacturer.”
Marking the changes
To prepare for his BEMA presentation, James joined several other unnamed North American aluminum extruders to reveal a picture of the changes in the North American aluminum extrusion market, he said. They estimated that in 1995, domestic painted aluminum extrusions represented 40 percent of the market, and by 2004 that number had fallen to 10 percent. Whereas domestic anodized aluminum represented 55 percent of the market in 1995, it had fallen to 21 percent by 2004, he said.
Meanwhile, use of aluminum extrusions for bath enclosures had burgeoned with the growing popularity of these items—even though each enclosure may have less framing. By 2004, sales to bath-enclosure manufacturers represented 30 percent of the market, equally split between imported and domestic extrusions, James reported.
Window manufacturers’ move to vinyl has probably eliminated the need for 15 aluminum extrusion lines. Offshore purchases may have removed the need for another 25 lines. The need to comply with environmental standards has removed 11 lines from service in North America during the last two years, James said.
All these plants have not gone out of business, James said, “yet all have presses idle.” Presses run one shift where they used to run three. “What to expect from us extruders: Continued price moderation based on capacity, shorter lead times, increased delivery reliability, partnering on inventory management, more innovation in finishes and colors, and smaller run sizes.” Regarding innovation, James noted, “Extruders have to do this to survive.”
A number of “wild cards” could throw his forecast off, James said. They include currency fluctuations, tariffs, transportation costs of bringing goods from port cities and whether Chinese manufacturers begin warehousing stock in the United States.
“I am cautiously optimistic,” James concluded. “We’ve seen the worst times. [Business] is more predictable now, and let us manage our business better going forward.”


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China's power consumption drops
Beijing: China's electricity consumption shrank 12.5 percent year on year in February, the National Energy Administration said Thursday.
The country used 337.4 billion kwh last month, according to a statement.
But electricity consumption went up 5.5 percent year on year to 789.2 billion kwh in the first two months, reported Xinhua.
Consumption expanded 4.3 percent in the agricultural industry, 4.2 percent in the industrial sector and 13.8 percent in the tertiary industry in January and February. Residential consumption expanded 4.7 percent.
Electricity consumption is a barometer of economic activities.
China has targeted 7.5 percent economic growth and 3.5 percent inflation this year.
Its economic growth eased to a 13-year low of 7.8 percent in 2012. The government cooled the inflation rate to 2.6 percent year on year in 2012 from 5.4 percent in 2011.
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SR 167 and freight talk of the town (Washington, DC, that is)
Supporters of SR 167 have long understood the importance of this critical trade corridor for Washington state. The highway was also a topic of conversation in our nation’s capital this week.
Congressman Alan Lowenthal of California, held a press conference in which he called on Congress to adopt a dedicated freight infrastructure fund. SR 167 was cited as one of the projects of national and regional significance that the federal government ought to invest in.
At the same time, the Coalition for America’s Gateways and Trade Corridors (CAGTC) unveiled its “Freight Can’t Wait” program illustrating the many freight infrastructure needs across the United States.
CAGTC praised the project, noting that “completing the project would provide a last-mile connections for manufactured and grown goods from around the U.S. being exported through the Port of Tacoma.”
Coalition Director Leslie Blakey went on to note, “Freight movement occupies a special place in our transportation system as the element that supports and enables national and global commerce.”
This interconnectedness between freight investments and economic prosperity was also called out this week by the American Association of Port Authorities.
“America’s freight network is vast and evolving,” they write in their newly released “State of Freight: Port Surface Transportation Infrastructure Survey.” “It’s a living grid and economic lifeline for the country … at its heart are America’s seaports, which handle approximately $6 billion worth of goods to and from overseas markets every day.”
Unfortunately, the investment needs to keep this economic lifeline functioning is great. AAPA estimates that U.S. ports located in the North Pacific require at least $6.90 billion in infrastructure investments to handle projected 2025 freight volumes.
The Washington State Legislature has an opportunity this year to make a significant down payment on these needs by passing a statewide transportation package that includes SR 167. The time for action is now.
As CAGTC declared, “We can’t wait for freight!”


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Ever had regrets the day after a party? Well, you’re not the only one.
Perth catering company Eat Street Enterprises and its director Bradley John Lamb have been fined more than $20,000 for botching catering for a wedding and a birthday bash.
A couple booked Eat Street Enterprises Pty Ltd, trading as Ole Paella Catering, to cater for their 2018 Margaret River wedding and provide two different types of paella.
But alarm bells soon replaced church bells when the company failed to turn up on the day.
The couple had to feed their wedding guests pizza and pasta from a local restaurant instead, and were only reimbursed $1605 of the $6825 bill.
Then, in October 2018, a Darlington man paid the company $4852 to cater for his 40th birthday celebration.
The chef arrived four hours late with just a single waiter, served undercooked food, and changed the menu. Instead of churros, he brought 12 caramel slices from a local supermarket.
Commissioner for Consumer Protection Lanie Chopping described the two incidents as “inexcusable failures.”
“Organising these types of events is stressful enough for consumers without the caterer turning up late or not at all,” she said.
“It’s important that consumers choose a catering company that has a good reputation and can provide genuine references from previously satisfied customers.
“We would also not recommend paying the full amount upfront. Pay only a small deposit and then the balance after the event has taken place and when all food and services promised have been provided.”
The Perth Magistrate’s Court fined Eat Street Enterprises and Mr Lamb $3,500 each for breaching the Australian Consumer Law. I
t also ordered the company and Mr Lamb to each pay costs of $1,500, and reimburse the disappointed customers.
In court, Mr Lamb acknowledged he had let the customers down and has since declared bankruptcy.


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3D printing in companies is becoming a common sight now, and the big corporations are moving the fastest on the technology. While 3D printing is covering a lot of ground in those companies, we had yet to hear it extensively in the world of clothing. Nike has come the closest to this in using 3D printing for their athletic wear. But another well-known sports apparel company called Under Armour might be taking 3D printing even further in being able to print more clothing in the near future.
An announcement is going to be coming this September from the CEO of the company, Alan B. Guyen. Nobody knows what that's going to be, though it's thought they'll be announcing the creation of some kind of sports apparel created exclusively on a 3D printer. In an interview recently, Guyen elaborated on what the advent of 3D printed clothing might look like in the future. Not surprisingly, it looks quite amazing if not fully implementable yet.
The theory is that we could eventually be able to print out clothing on a daily basis and won't even need to use washers and dryers any longer. For those who get bored with their clothes easily, they may be glad to know we may be able to print a new shirt or other outfit daily. Afterward, we may be able to recycle the materials in the printer and turn it into another piece of clothing. Or, the materials would be inexpensive enough to dispose of the clothing and print a new piece the next morning.
Will we see clothing printed like that in homes of the near future? And will more clothing manufacturers start using 3D printers in the same way?
The Future of Clothing from 3D Printers
Guyen's hint above about what Under Armour will be doing seems to indicate it's something quite significant. It may kick off more clothing being printed by big-name apparel companies that will be priced cheaper thanks to quicker production times. Also, with 3D printers being able to create complex shapes and patterns, they'll also be customizable to bring the ultimate fashion statements.
Yes, this may be thought to take away from clothing designers that make clothes by hand. Then again, we always reiterate how careers we're used to seeing will be reinvented using 3D printer technology rather than eliminate jobs.
Clothing production of the future will probably be on a CAD program that we can tweak ourselves. For those who place a lot of importance on the clothes they wear, that's going to be significant. In the world of sports apparel, it's going to be even more important in the constant issue of being comfortable while also setting fashion trends.
It always takes just one company to get something fast-tracked. Under Armour may snowball 3D printed clothing this fall to a point where we see full use of it by the time the next Olympics roll around when sports apparel goes on full display.


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A Google forum poster under the user name Kazuo Kusunose claims to have lost $15,000 trying to participate in what they described as a “new Chinese cryptocurrency sale,” which brought them to the Yuan Pay Group website.
Based on the forum post, the suspicious website is allegedly attempting to take advantage of the rumored digital yuan that China is working on in a bid to launch its central bank digital currency (CBDC). The ad states that “China Launched New Yuan,” intriguing this particular user.
The alleged cryptocurrency scam is done via a platform dubbed Coindaq.io, according to Kazuo Kusunose. When the user clicked the ad, they landed on the Yuan Pay Group page. According to them, the alleged siphoning of funds takes place on the Coindaq.io page. Users are directed to the platform to open an account and deposit funds to participate in the sale of the digital yuan.
The Yuan Pay Group page looks similar to other ICO-like cryptocurrency projects and presents itself as the only entity approved to sell and trade China’s digital yuan. The alleged scammers also use the images of Peter Thiel and Richard Branson as part of their “legal feedback.”
Alleged Crypto Scams Cracking Through Google’s Ad Policies
The advertised website appears to be used as a buffer before the user is seemingly automatically redirected to the Yuan Pay Group page. This user appears to have fallen into a false sense of security.
The alleged scammers are also using the “Coindaq” name, which is a crypto analytics platform but not an exchange platform and resides under the .net top-level domain. In their complaint, the investor is requesting Google check into the ad to help prevent further fraud.
Google has imposed strict guidelines and has been in the past wary of promoting cryptocurrencies. While Google does allow some crypto ads, they are restricted to crypto hardware products and crypto exchanges, according to the company’s ad policies.


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Updated from 11:52 a.m. EDT
, the German media giant, said Thursday that it would buy
for about $117 million in cash, ending the American online music seller's arduous, months-long quest for a partner.
Under the terms of the deal, Bertelsmann will exchange $3 in cash for each share of CDNow. It also will give the ailing 6-year-old company $42 million to pay off loans and finance its operations until the transaction closes.
CDNow's shares, which had traded as high as 22 5/8 during the last 52 weeks, gained 1/32, or 1%, to close at 2 29/32. The deal consequently represents virtually no premium for CDNow shareholders, though the company may have been left with little choice.
Despite the popularity of its Web site, a destination for an estimated 700,000 music listeners each day, and the revenue growth it posted in recent quarters, CDNow has steadily been losing money. Marketing costs, some analysts say, ultimately sealed the company's fate.
"The company was inherently not extremely profitable," said Rob Martin, an Internet analyst with
Friedman, Billings, Ramsey
in Arlington, Va., which dropped its coverage of CDNow in March.
"And then to magnify the situation," Martin added, "They had to spend aggressively on sales and marketing, and that never translated to profitability."
CDNow, craving cash in spite of its relative success in selling music online, had announced in early June that it would find
a merger partner in a matter of weeks.
"The bricks and mortar companies are starting to pick up the stronger Internet sites that are floundering," said Robert Labatt, research director with the
. "The reality of the marketplace right now is that finding additional venture capital is very difficult."
A proposed merger between CDNow and
, the music club owned by
collapsed earlier this year, sending CDNow¿s shares on a downward spiral from which they were unable to recover.
In March, the accounting firm
questioned whether CDNow could stay financially
afloat on its own.
CDNow asserted Thursday that the future is markedly brighter than its troubled past.
"Our agreement with Bertelsmann represents a successful conclusion to our extensive search for a merger partner," Jason Olim, president and chief executive of CDNow, said in a statement. "We believe our combination with Bertelsmann is the best outcome."
While the accord satisfies CDNow's immediate needs, it also could help Bertelsmann, a powerful player with interests in the book publishing, music and television realms. Bertelsmann now can use CDNow to gain a stronger foothold in North America, where its name has not drawn as much attention.
CDNow will operate under its current name and will become a subsidiary of Bertelsmann's electronic-commerce group, which was created earlier this year to extend the company's global reach.
CDNow will keep its base in Pennsylvania, and its management team is expected to remain with the company. Olim, meanwhile, who founded the company along with his brother, Matthew, will report to Andreas Schmidt, president and chief executive of Bertelsmann's e-commerce division.


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With the holidays around the corner and the advancement of buying online, it’s the perfect recipe for easy holiday shopping. Unfortunately, it also creates the perfect storm for a thief who steals packages.
John Priskorn is one of those victims. He made an online purchase and his video doorbell told the rest of the story. His package was expected to be delivered on a Saturday. He and his wife were both home that day. He never received his package. It was then sent again on Monday, but the couple was away at work. It arrived at about 10:28 am. A few hours later a lady approached his porch, picked up his box and put it inside of her bag, taking the package.
John saw the video of the crime and immediately posted it to a neighborhood watch network connected to his security camera doorbell. It alerted neighbors with the news as well as the footage from the scene. With the help of neighbors and other’s security cameras, the license plate was captured. The owner and thief were captured, including a car full of other peoples packages.
The woman was charged and arrested all in the same day.
Preventing theft can be a little tricky for many. Camera’s help. Having things delivered to your job can also help. Some have made efforts to post a note with little success. Companies like Amazon have options to deliver to special lockers or even slip packages inside your door.
Cathy Roberson works in the shipping and delivery industry and has some simple advice.
“You’ve got something worth 200 bucks being delivered to your home? You better be sitting on your front steps when it arrives.”
Every situation is different, but a little planning, strategy, and prayer could go a long way.


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Intel Corp announced a new chip called Gaudi2 on Tuesday aimed at artificial intelligence computing, as the chipmaker expands its presence in the AI chip market presently dominated by Nvidia Corp.
Gaudi2 is the second generation processor by Habana Labs, an Israeli AI chip business acquired by Intel in late 2019 for around $2 billion. AI chip firms have received significant funding in recent years, as AI computing is one of the fastest expanding sectors of data center activity.
It has been difficult to take market share away from Nvidia since many AI researchers and corporations are accustomed to utilizing Nvidia’s software platform CUDA. So, in addition to new AI processing hardware, Intel informed Reuters that it has been working on software development.
“CUDA is not a moat that Nvidia can truly stand on for long,” said Eitan Medina, a chief business officer of Habana Labs, adding that Intel’s software platform is an open standard, free to download and use from the software development site GitHub. “The question now is, who can complete the job efficiently?”
Medina stated that the Gaudi2 was twice as quick as Habana’s prior AI device and was built using Taiwan Semiconductor Manufacturing Co’s (2330.TW) 7-nanometer transistor technology, as opposed to 16-nanometers earlier. The smaller the transistor size, in general, the quicker and more powerful the chip.
Intel also introduced a new processor dubbed Greco for inferencing tasks, which involves using an AI system to make a forecast or identify an item.
Sandra Rivera, who heads Intel’s data center and AI, said the AI chip market is estimated to grow some 25% a year in the next five years to reach around $50 billion. “We intend to invest and innovate to lead this market,” she said, adding that increasingly the investments will be in software, both for expandiSandra Rivera, Intel’s data center and AI vice president stated that the AI chip industry is expected to increase at a rate of 25% per year over the next five years, reaching roughly $50 billion. “We aim to spend and develop in order to dominate this market,” she added, adding that further investments will be made in software, both to increase Intel’s staff and to acquire other firms.


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The Birch Bock placed second in the “Specialty Beer” category, for beers that use “unusual fermentable sugars.” In this case, birch syrup harvested from Alaska’s Interior.
“It’s a lager. It’s kind of dry and malty and you get a little bit of a tart-ness from the birch syrup,” says Alaskan Brewing Company Brewer Rob Day. “You can taste the alcohol a little bit. It’s at 8.5 percent. So, it’s one of those beers that you don’t want to drink more than four pints, but you can sit there and drink it and enjoy the flavors you get from it.”
The Birch Bock was released in March as part of Alaskan Brewing’s limited edition Pilot Series. As with all the brewery’s smaller releases, it was a collaborative effort.
“We all kind of had a hand in it throughout the brewery,” says Day. “We start usually on a one barrel and then we scale it up and then everyone gets their little say on it, and then we go from there.”
Day says Alaskan Brewing strives to use home-grown ingredients whenever possible.
“The Alaskan brewery is based in Alaska, so the more Alaska ingredients we get to use, that’s a bonus and it helps out other companies in Alaska,” he says.
The Alaskan Brewing Company is no stranger to the Great American Beer Festival awards. The brewery has attended the event 25 times in its 31 year history, bringing home 23 medals.
More than 660 breweries entered more than 4,300 beers in this year’s competition. The 185 judges, representing 11 countries, decided which of the 84 categories each beer would be judged in.
- Not all staff per diem claim forms have been received, so that figure is likely to rise.
- Instead of Negro, Oriental, Eskimo and Aleut, certain laws will now refer to African Americans, Asian Americans and Alaska Natives.
- The state is granting nearly $300,000 to improve water quality in some of Alaska's most damaged watersheds, including Juneau's orange-tinted Duck Creek.
- More than a third of all the penalties imposed since 1976 were logged last year.


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Apple’s first originals – Carpool Karaoke and Planet of the Apps – will launch on Apple Music in the “next few months”, according to Apple’s Eddy Cue.
Speaking at the Code Media conference in California yesterday, Cue, SVP of internet software and services, showed a clip of Planet of the Apps and revealed details of the Ben Silverman-produced show, which will see app developers pitch for financial backing and then promotion through the App Store.
The series will be available “in most countries in the world” as part of Apple’s 18-month old subscription music offering, as will Carpool Karaoke – Apple’s previously announced Late Late Show with James Corden spin-off.
Appearing on-stage alongside Ben Silverman to discuss Planet of the Apps, Cue said that the shows will be exclusive to Apple Music, won’t appear on traditional television and will be available across Apple TV, Mac and iOS devices.
“We think that video can be a very important part of Apple Music. It’s one of the differentiating factors that we can add,” said Cue, asked about the reasons for Apple’s move into this space.
“We’re just starting out and we’re excited. We think these shows bring something to customers that haven’t been seen before, so there’s something unique, special that we’re bringing to the table. I think there are more ideas like that that we have, so we hope to continue doing more – and we’ll see.”
Cue said that Apple has a “real opportunity in the TV space” but is interested in doing programmes that aren’t being done by anyone else – ones that take advantage of its platforms.
For this reason he played down the logic of Apple merely buying a large producer and distributer of content – such as a Netflix or a Time Warner – or signing up to make a big budget drama series like Game of Thrones.
“We’re not taking the traditional route. This [Planet of the Apps] is a show that’s unlike anything that we see out there that we are able to add value to,” said Cue.
“Carpool Karaoke is in a same vein, so the idea is that we do things that we add a certain value to. It’s not just going off the shelf and buying shows. “
Planet of the Apps will see contestants pitch for investment from what Apple described as “four of the world’s most culturally influential entrepreneurs” – Will.i.am, Jessica Alba, Gary Vaynerchuk and Gwyneth Paltrow.
After a sixty second ‘escalator pitch’ developers try to partner with one of the four advisors. After developing their ideas they will then pitch to VC firm Lightspeed Venture Partners and successful apps will be featured on the Apple App Store.
“For us, we’re really excited because a show about apps doesn’t work unless you’re partnered with Apple,” said Silverman, a TV industry veteran and the co-CEO and chairman of production company Propagate.
“We may have been able to get every traditional network invested, but we didn’t have a prize. You can’t do American Idol without Sony BMG giving the recording contract.”
Planet of the Apps will launch this spring, with a new episode made available each week – rather than a full block of programming being released at once in a Netflix style.
Cue said that Apple Music currently has “well past 20 million” subscribers, and claimed there is still huge room to expand. “There’s billions of people listening to music, so we still think the potential for growth is exponential”.
News of Apple’s first TV moves come just days after Apple CEO Tim Cook also touted the firm’s interest in another new business area for the company, augmented reality.
In an interview with UK newspaper The Independent, Cook said: “I’m excited about augmented reality because unlike virtual reality which closes the world out, AR allows individuals to be present in the world but hopefully allows an improvement on what’s happening presently.”
“I regard it as a big idea like the smartphone. The smartphone is for everyone, we don’t have to think the iPhone is about a certain demographic, or country or vertical market: it’s for everyone. I think AR is that big, it’s huge.


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Honor is all set to launch multiple smartphones in its P20 series. Now, the details if the Honor 20i have surfaced online. The company is also planning to launch a new MagicBook. The upgraded laptop is expected to offer better performance and better battery life. Read more to find about Honor 20i, MagicBook 2019 Laptop Price in India, Specifications, and Features
Price and Availability
Both the Honor 20i and MagicBook 2019 will be launched on April 17. As of now, there is no information about the Indian price or launch date of the new devices.
Specifications and Features
- Waterdrop notch
- 6.2-inch full-HD+ display
- Kirin 710 SoC
- 4GB/ 6GB RAM
- 64GB/ 128GB storage
- 32MP selfie camera
- AI support
- 3,400mAh battery
According to recent leaks and rumors, the Honor 20i will sport a 6.2-inch display with full-HD+ (1080 x 2340 pixels) resolution and a waterdrop-shaped notch. It will be powered by a 2.2GHz octa-core HiSilicon Kirin 710 processor along with 4GB/ 6GB RAM and 64GB/ 128GB internal storage.
For selfies and video calling, the Honor 20i will sport a 32-megapixel front camera with artificial intelligence (AI) support. It will be backed by a 3,400mAh battery.
The new notebook model is expected to come with multiple upgrades over the original MagicBook (launched last year). It is likely to come with better battery life and improved graphics.
In terms of design, the Honor MagicBook looks similar to the Apple MacBook. The new model might also come with some performance enhancements.
Apart from Honor 20i, the Honor 20 Lite and Honor 20 Pro models have also surfaced online. While the Honor 20 Lite is expected to come with a price tag of EUR 280 (approx Rs 22,000), the Honor 20 Pro is tipped to cost CNY 2,999 (approx Rs 30,800).
The Honor 20 Lite is expected to sport a 6.21-inch full-HD+ display with 415ppi pixel density. It will feature a display notch. The upcoming handset is reported to be powered by a HiSilicon Kirin 710 processor along with 4GB RAM and 128GB internal storage (expanded through a microSD card). It will be backed by a 3,400mAh battery.
In terms of optics front, the Honor 20 Lite sports a triple rear camera setup on the back. It will combine a 24-megapixel primary sensor (f/1.8 aperture), an 8-megapixel secondary sensor (a 120-degree ultra-wide-angle lens), and a 2-megapixel, depth sensor.
On the other hand, the Honor 20 Pro is rumored to be powered by a HiSilicon Kirin 980 processor. The 3,650mAh battery comes with 22.5W fast charging support. Additional features might include Gaming+, Link Turbo, CPU, and GPU Turbo.
The high-end device is tipped to come with features like a 6.1-inch OLED display, an in-display fingerprint sensor, a Sony IMX600 camera sensor, and a 3x optical zoom. It will come in three variants – 6GB RAM/ 128GB internal storage, 8GB RAM/ 128GB storage, and 8GB RAM/ 256GB storage.
Additionally, the triple camera set up on the back will include a 48-megapixel primary sensor, a 20-megapixel sensor (wide-angle lens), and an 8-megapixel sensor (telephoto lens with 3x optical zoom support). For selfies and video calling, it will feature a 32-megapixel front camera.
What do you think of the new Honor devices? Share your views with us in the comments section below.


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According to EnergyTrend's report, finds that the average global spot price of polysilicon has surged by 20% between the end of July and the middle of August...
Broadcom launched Max WiFi, the family of connectivity solutions using the next Wi-Fi standard, 802.11ax. The Max WiFi chips enable up to four times faster download speeds...
“BioForward and Wisconsin’s biohealth community welcomes Foxconn to the state and looks forward to opportunities for collaboration,” said Lisa Johnson, CEO of BioForward Wisconsin. “Attracting a technology leader such as Foxconn will benefit Wisconsin in numerous ways from high-tech job opportunities, industry collaborations, and benefiting Wisconsin’s extensive state-wide supply chain.”
Wisconsin’s biohealth industry also relies heavily on high-tech manufacturers throughout the state. Amongst several notable international investments in Wisconsin, attracting Foxconn to the state further showcases Wisconsin as a technology and manufacturing leader.
Foxconn Technology Group is a multi-dimensional company with not only a focus in manufacturing, but also a large healthcare division. Terry Gou, Chairman of Foxconn, has demonstrated his commitment to advancing healthcare with large investments in Taipei’s Cancer Center and providing major funding to medical research.
With Foxconn’s decision to invest in Wisconsin for display manufacturing comes the possibility of research partnerships, high-tech healthcare manufacturing, and employment for Wisconsin’s concentration of STEM-educated workforce. Foxconn has a history of investments in high-tech healthcare and technology initiatives. The state of Wisconsin presents additional opportunities for partnership in similar initiatives such as Wisconsin’s Biomanufacturing Center of Excellence.
“We’re thrilled Foxconn has chosen Wisconsin for the 8K display manufacturing plant and technology campus, and we’re excited to develop this relationship with Foxconn to further support their interest in healthcare as part of their U.S. expansion strategy,” said Lisa Johnson.
CTIMES loves to interact with the global technology related companies and individuals, you can deliver your products information or share industrial intelligence. Please email us to firstname.lastname@example.org
- 1Flexible AMOLED Display Manufacturing Capacity to Grow 91% CAGR Between 2016 and 2020
- 2PC DRAM Contract Price Rose by Over 10% Sequentially in Q2, TrendForce Says
- 3China's LCD Panel Manufacturers to Increase 10.5-Gen Production
- 4Foxconn to Deploy 8K LCD Plant in Wisconsin, USA
- 5Broadcom Again Topped TrendForce’s Latest Revenue Ranking of Top 10 IC Design Houses


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Shares of Advanced Micro Devices (AMD) fell a whopping 14.4% on Friday. AMD reported very weak preliminary third quarter results before the market open. The results triggered a lot of rumors during the session about sizable job cuts at the firm, to be announced this week.
Preliminary Third Quarter Results
AMD now expects third quarter revenues to fall approximately 10% compared to second quarter revenues of $1.41 billion. Previously the company guided for a 1% drop in sequential revenues, plus or minus 3%. The company blames the poor results to weaker than expected demand across all product lines, caused by the challenging macro-economic environment.
Third quarter gross margins are expected to fall to 31%, from a previous anticipated 44%. The company will take a $100 million write-down in inventories due to lower than anticipated demand. Furthermore, lower average selling prices for the Computing Solutions Group's products and lower utilization of manufacturing facilities, impacts margins as well.
The company did manage to lower operating expenses by 7% as a result of tight cost control. The actual third quarter results will be published on Thursday October 18th, after the market close.
AMD ended its second quarter of 2012 with $1.58 billion in cash, equivalents and marketable securities. The company operates with $2.02 billion in short and long term debt, for a modest net debt position of $440 million.
For the first six months of 2012, AMD generated revenues of $3.0 billion. The company net lost $553 million, or $0.75 per diluted share. Based on AMD's warnings, the company is on track to generate annual revenues of $5.5 billion for 2012. The company is likely to report losses approaching $1 billion for the full year.
Shares are valued at just $1.9 billion after Friday's fall. This values the firm at just 0.35 times annual revenues. Obviously, the firm is not paying any dividends, given its lack of operating profitability.
Year to date, shares of AMD have lost half of their value. Shares rose from $5 in January to highs around $8 in March. From that point in time it all went downhill. Falling revenues and a string of poor earnings guidances send shares to lows of $2.75 at this moment.
Over the past five years, shares of AMD have lost 80% of their value. Shares traded as lows as $2 during the financial crisis from highs of $40 as early as 2006. Shares recovered to $10 in 2010 and have fallen right back to $2-$3 lows again. Between 2008 and 2012, the company saw revenues stagnating. Revenues totaled $5.8 billion in 2008 and are likely to fall slightly to levels around $5.5 billion in 2012. The company reported a $3.1 billion loss in 2008, but managed to report profits in the years thereafter. In 2012, AMD is widely expected to report a large loss again.
While operating performance is dismal, the company did actually significantly improved its capital position. The company operates with a net debt position of almost $4 billion in 2008, and has cut this back to roughly $500 million at the moment. There are absolutely no signs of a short term recovery, on the contrary.
On the back of the preliminary warnings, rumors hit the market on Friday that AMD is looking to cut 10 to 20% of its 11,700 workforce in an attempt to cut costs. AMD might already announce the cuts when presenting its third quarter results the coming week. Demand for personal computers which carry AMD's chips is falling rapidly as many users switch to smartphones and tablets. Third quarter global PC shipments fell 8.3% to 87.5 million, according to market research firm Gartner.
Let's await this weeks official results and see which cost saving measures the company is taking. Shares are trading at very low levels as the operating environment for AMD is terrible. On the other hand, the financial position of AMD is relatively solid, as the company has liquidity available and the net debt position is relatively modest.
If the company announces serious job cuts, and gives any prospective for the short to medium term, shares might be worth the gamble.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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KUCHING: In line with the government’s recent announcement on the extended Covid-19 relief initiatives, Hong Leong Bank and Hong Leong Islamic Bank (HLB) will be providing additional targeted assistance to customers who foresee some difficulties in restarting their regular payments come October 2020 under the Bank’s Payment Relief Assistance Plans.
Under these plans, targeted payment assistance will be extended to individuals and SMEs customers based on their particular circumstances.
HLB/HLISB is encouraging its customers to reach out to the bank now so that they can plan their recovery journey early, and well ahead of October 1, 2020.
HLB/HLISB assistance plans include additional three-months payment deferment, based on the terms provided under the current moratorium, to those borrowers who have lost their jobs as a result of the Covid-19 pandemic.
In cases where customers have suffered a reduction in income due to the pandemic, the bank will extend a commensurate reduction in their monthly loan/financing instalments for a period of six months, starting October 1, 2020.
The bank will re-assess the customers’ financial position before the end of the 6-month period to extend additional support to those that who still need further assistance.
Domenic Fuda, group managing director and chief executive officer of HLB stressed that the bank is here to help customers on their road to recovery and it is important for customers to reach out to the Bank now so we can, together, explore the required assistance, and hence, have it finalised and in place well before October 1, 2020.
He added, “The industry-wide deferment has been important in providing relief to all Malaysians during the MCO and RMCO periods, especially to those who had either lost their jobs or had their income reduced during this period.
“We are encouraged by the reasonable recovery we are seeing in business activities since the RMCO, both among our corporate and SME clients, as well as consumers who are returning to their employment.
“We also note that customers who are on the recovery path and are seeing their financial situation improving post the MCO period, have restarted their payments earlier than October 2020.
“Nonetheless, there will be some businesses and households that continue to experience cashflow issues and these are the customers who will need our attention and assistance to see them through their recovery journey.
“To this end, we have started to actively reach out to those that we think might need further assistance so that we can ascertain their circumstances, and thus provide targeted and individualised assistance that will ease their financial burden. We have further streamlined our policies and processes to ensure that we will provide the assistance necessary in a simple and seamless manner.”
HLB’s approach to help clients through this challenging period has been significantly wider than the 6-months Loan/Financing Payments Deferment. The Bank moved early to introduce a payment restructuring plan to help individuals, SMEs and Corporate customers navigate through the financial fallout from the Covid-19 pandemic as early as February 2020.
The industry wide 6-months payments deferment period, starting April 1, 2020, was an extension of the Bank’s earlier program. Since the commencement of the loan/financing payments moratorium, the bank has continued to work closely with customers that were not covered under the moratorium program, including credit card customers, those who were in arrears 90 days or more as at March 31 2020, and corporate clients, to extend appropriate assistance where it was required.
HLB will also be going the extra mile to have open days called ‘Advisory and Assistance Day’ on two consecutive Saturdays (August 8 and 15) from 9.30am to 1pm at selected branches, for customers to engage with the Bank on queries pertaining to the Payment Relief Assistance Plans, how the Bank can help post loan deferment period as well as financial and investment advice.


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As you may have heard this before, Apex Legends Mobile is set to come on the mobile platform. EA is having a partnership in China, which helps them to develop the game for Android and iOS devices. However, the battle royale game’s release date is unfortunately postponed.
The coronavirus outbreak in China has caused the game launch to be delayed. Apex Legends has climbed the popularity leader in a very short time, and EA wants to expand its boundaries by bringing the video game on the mobile platform. It would be nice to see more fierce competition between the top game, such as PUBG and Fortnite. Maybe Apex Legends will turn the tables.
Apex Legends Mobile Launch Date Postponed Because of the Coronavirus
EA and Tencent will probably develop the Apex Legends Mobile game. Tencent is known for bringing significant games on the mobile platform. The collab between the two companies has come to a stop due to the deadly virus spreading around the world. However, it is not the only game that was postponed; other games are facing the same situation.
The iPhone 12 smartphone production has come to a halt, and the upcoming James Bond movie ‘No Time to Die,’ too. The film is going to have a seven months delay because of the Covid-19.
Covid-19 has put almost the entire China on lockdown. This will create massive delays in many departments.
Apex Legends Mobile is also a very complex game; therefore, its development is more challenging to be done, but now, with the virus taking over the world is going to have even more severe delays. The mobile game was expected to be released this year; however, with the coronavirus outbreak, it will be more than likely postponed until 2021. There is no official confirmation regarding the release date yet.


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Prior to the coronavirus pandemic, the worldwide car field faced a time period of unprecedented alter. A lot of automakers were not dealing with it really effectively, working towards the well-honed artwork of kicking the can down the road on almost everything from electrification to self-driving automobiles.
Ironically, the in the vicinity of-full shutdown of around the world production has demonstrated Significant Car that can truly endure a significant, unforeseen crisis — and inspired the sector to grapple with the dreaded “disruption” it experienced been avoiding.
This 7 days, General Motors and Honda declared that they would establish an alliance, extending several a long time of cooperation that has intensified in latest a long time as the automakers jointly invested in Cruise, the GM-affiliated autonomous trip-hailing startup now valued at all-around $20 billion, and pledged to generate two new electric autos utilizing GM’s new Ultium battery know-how.
What is attention-grabbing about the alliance, then, just isn’t the point of its existence. It really is that the freshly signed “memorandum of understanding” outlines a North American alliance.
Honda has been offering and producing vehicles in the US for a long time GM, the variety one particular US automaker by revenue quantity, has been close to for additional than a century. The North American industry, comprising the US and Canada, is the world’s most competitive.
But it has also calcified in conditions of market share. GM potential customers with just below 20% of new car income. Honda has a minor much more than 15%. The percentages by no means alter considerably, and extended-term, likely again to the 1950s, GM has witnessed its as soon as-dominant 50% share steadily eroded.
The new GM is actually, truly new
Having share and defending share in this sector is staggeringly high-priced. And for most of its record, foremost up to its 2009 individual bankruptcy, GM fought for share like no other automaker. Chapter 11 radically revised that mind-set, and the endeavours of CEO Mary Barra and her management crew to convert GM into a extra agile and effective 21st-century competitor have meant that even though marketplace share continues to make any difference — GM would not needlessly surrender profitable pickup-truck profits — capturing marketplace opportunities issues much more.
Enter the alliance with Honda. Properly, GM is likely to help out a competitor in its have backyard.
“An alliance in North The us in between Honda and GM would leverage the ideal systems and create substantial expense efficiencies from shared auto platforms and propulsion devices, joint obtaining, potential production efficiencies and other collaboration efforts,” GM stated in a statement. “This would allow the two GM and Honda to make better investments in innovative and following-technology systems.”
Alliances in the auto business have a bumpy monitor history. Daimler’s merger with Chrysler was a disaster, foremost to ruinous possession by personal-equity business Cerberus before Chrysler’s 2009 individual bankruptcy and takeover by Fiat. The Renault-Nissan-Mitsubishi alliance, established in 1999 and usually pointed to as an illustration of thriving world-wide cooperation, has been in shambles since its architect, chairman Carlos Ghosn, was arrested in Japan in 2018 on allegations of monetary malfeasance. (He afterwards staged a spectacular escape.)
On the other hand, the industry suffers from extra manufacturing capacity, redundant R&D, and squandered money, a problem that the late Fiat Chrysler Automobiles CEO Sergio Marchionne excoriated in a now-infamous presentation prior to his unanticipated demise in 2018.
The pre-COVID bottom line was that with the electric and autonomous corporations in gestation — EVs represent just about 1% of throughout the world gross sales, even though no autonomous hard work has however created any important earnings — carmakers were being staring down the unappetizing prospect of the two grappling with Marchionne’s indictment and finding the resources to retain speed with fast-progress new entrants like Tesla.
For a gigantic enterprise like GM, the to start with priority to prepare for an overdue market downturn. Pursuing the Terrific Economic downturn, US sales slowly recovered and then surged, environment file or in close proximity to-report yearly tallies from 2015 on. Quick credit rating, pent-up demand, very low gas charges, and a comeback for significant SUVs meant that GM was banking about $10 billion a 12 months in earnings and building up a fortress-like balance sheet, comparatively flush with money.
But those reserves were mainly committed to riding out a current market decline and preventing a different Chapter 11 when preserving GM’s financial investment-quality borrowing ability. The secondary administration challenge was figuring out how to spend in the potential — a potential that Barra experienced unequivocally declared was electrical.
With the coronavirus crisis receding, carmakers can change again to worrying about foreseeable future
In numerous conversations with Barra and her workforce given that she got the occupation in 2014, I heard around and above once again that the enterprise would not know how superior it was, publish-personal bankruptcy, right until it was analyzed by fireplace. Then arrived COVID-19.
Profits have declined, but the damage has not been as terrible as numerous considered, and the sense in Detroit is that the marketplace is coming again quicker than expected. GM fundamentally lost 100% of output for more than a month, but the preparations it experienced started in 2010 proved helpful.
That has emboldened GM to deal with the secondary dilemma, and to acquire the daring stage of offering up on snatching US marketplace share from Honda. If you can’t conquer ’em, be a part of ’em. The upshot is that a GM-Honda alliance would symbolize about 25% of the overall US marketplace, though the proposed tie-up is concentrated extra on new cars than on current segments.
And though GM and Honda do go head-to-head with numerous products, Honda is potent in segments that GM would like to get out of, chiefly sedans, even though the Japanese automaker lacks the large SUVs and total-dimension pickups that are GM’s US stalwarts.
In other words and phrases, neither business loses that significantly in doing work jointly to generate new automobiles, and Honda stands to achieve if GM uses the alliance to back again away from sedans and commit those people assets to its purpose of launching 22 electrified autos by 2023. The Accord and the Civic aren’t heading anyplace, although the Chevy Malibu is dwelling on borrowed time and the Chevy Cruze has now been place to relaxation.
Apart from the nuts and bolts of the inner-combustion company, what is basically currently being shared below is a lot less the opportunity of capturing new markets for EVs than the hazard of establishing vehicle platforms for that current market — platforms that have to endure for probably decades.
In this sense, GM is in the driver’s seat, simply because Honda must be plugging into GM’s Ultium endeavours. Believe of Ultium like an EV’s functioning method: the more Ultium GM can provide, badged with a single of its brand names or one of Honda’s, the additional lucrative the expense should really be. Honda can quit worrying about catching up on EVs (exactly where it lagged) and ride together with GM, acting as a kind of copilot and supplying GM obtain to some of that aforementioned US current market share.
GM and Honda aren’t alone on commencing a publish-corona consolidation. Ford and VW have been intensifying their collaboration, although VW’s share of the US current market is significantly decreased than Honda’s (VW is a chief in Europe and China, even so). FCA and Peugeot are expected to full a 50-50 merger early subsequent 12 months, below the identify Stellantis.
Marchionne was appropriate in his grim analysis of the legacy automobile industry’s habit to cash. COVID-19 made his jeremiad extremely hard to disregard. As 2020 closes out, with the pandemic having decimated worldwide automobile income but, crucially, not killed off any huge automakers, the sector has collectively recognized that now is the time to handle its addiction to squander, overproduction, and redundancy and get really serious about creating transportation for the 21st century.
No person wishes to go out of business — so pretty much everybody is going to perform jointly. We are going to see if the unattractive heritage of automaker alliances recurs. But for now, the terrific compression has started.