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Lowes Work Schedule For Employees
Lowes Work Schedule For Employees – FARMINGDALE, NEW YORK – MAY 20: Shoppers check out a Lowe’s store on May 20, 2020 in Farmingdale, New York. (Photo by Bruce Bennett/Getty Images)
(NEXSTAR) – America is experiencing inflation not seen since the early 1980s, causing the cost of almost everything to rise. Because wages aren’t rising these days, a national employer plans to give its workers a $55 million bonus.
Lowes Work Schedule For Employees
When he shared third-quarter sales and earnings results Wednesday, Lowe’s President and CEO Marvin R. Ellison said the extra bonus would go to front-line workers to help them “in times of inflation.”
How Lowe’s ‘active Caring’ Culture Is Supporting Life/work Balance
“These partners play an important role in our company, and we greatly appreciate everything they do to help our customers achieve their best,” Ellison said on the call Wednesday, The Washington Post reported.
Lowe’s did not return Nexstar’s request for comment. A spokeswoman told The Washington Post that employees will receive the bonus in early September.
Lowe’s isn’t alone in trying to give employees time off — Exxon Mobil, T. Rowe Price Group, and Microsoft are among those opting for mid-year raises or bonuses as they keep pace with not only inflation, but the markets. The business is facing competition.
U.S. consumers, whose money accounts for about 70% of U.S. economic activity, are struggling despite year-over-year inflation near a 40-year high, increasing economic uncertainty and rising housing and mortgage costs. However, total income has declined, and has gone more towards things like food, leaving more important items like electronics, furniture and new clothes behind.
Things You Don’t Know About Lowe’s, According To Its Employees
Inflation causes serious problems for many families. Although the price of gasoline has fallen on the road, food, rent, used cars and other necessities have become more expensive, well above the minimum wage that most workers do not earn.
Although the labor market remains strong, the US economy slowed in the first half of 2022, raising fears of a recession. Growth has slowed significantly due to the Federal Reserve’s interest rate hikes aimed at easing the economy and reducing inflation. Two intersecting lines forming an ‘X’. It represents a way to block communication, or block information.
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Lowe’s workers say the giant’s new home improvement plan is leaving some employees feeling like they’re ‘walking on bullets’.
Lowe’s To Shut Underperforming Stores In The Us And Canada
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Lowe’s officials say several policy changes in employee schedules have reduced interest in home improvement stores.
Last month, Business Insider published an article about low morale among Lowe’s employees, based on interviews with 17 current and former Lowe’s employees from 14 countries.
Lowe’s Ceo Marvin Ellison Says Work From Home And A Robust Housing Market Continue To Give The Home Improvement Retailer A Boost
The main topic that 10 of these workers talked about was changing the time policies for full-time workers.
The four-week shift for regular workers has been replaced by a new system called the “customer schedule,” which workers say has brought uncertainty and ruined their working lives. To protect them from retaliation, these workers will remain anonymous, identified only by the country they live in.
A Lowe’s representative told Business Insider: “We recently rolled out a new exchange system that integrates the exchanges customers want by time of day, day of the week and department.” “We tested this model in multiple locations to get feedback from our partners and customers before rolling it out to all stores. This model is very similar to what other major retailers use and allows us to tailor our stores to our customers’ needs. A new model for its preparation also offers a regular program of our regular partners.”
Employees told Business Insider that the policies apply to full-time store employees for about four weeks. Under the plan, full-time employees get one week off each month, several employees said. The following week, workers got Sunday and Friday off, then Wednesday and Thursday, then Monday and Tuesday.
Year Old Lowe’s Employee Is A Wwii D Day Survivor
“You couldn’t ask for a better program,” a Lowe’s employee in Florida told Business Insider. “You know your plan for the whole year. You can plan your whole year.”
This flexibility was especially helpful when it came to scheduling medical appointments, vacations and family time, a Louisiana employee told Business Insider.
But that plan was recently replaced by a “customer switch,” which was tested in some stores before being introduced to a large group of home designers this month. Unlike the old matrix, the new system works around eight weeks.
Employees told Business Insider that the company’s new flexibility for full-time workers ensures they only get one week off every eight weeks. A recent Lowe’s executive, who asked not to disclose his position or location, told Business Insider that customer loyalty looks good “on paper,” as he vowed to make sure the operation reflects retail strength.
Lowe’s Sales Associate
“At first it was talked about in a brutal way, which was, ‘You’re not going to make any changes to this,'” the manager said. “And if Lowe wasn’t there, it wouldn’t be such a big loss.
The staff said that when planning for customers, they know their schedule two weeks in advance. Employees reported seeing an increase in weeks where non-consecutive days were given.
It’s unclear if this is store-related or just an automated incident, but several employees working at stores across the country have reported the same problem.
However, not everyone is affected by this change. One employee here in Vermont said their schedule has changed — especially because of the new system of counting consecutive work days in sixes — but he can see why his colleagues were upset about the loss of “consistency” and “predictability” of the old system. .
New Customer Centric Scheduling
“Everybody just says they want the union to work,” an employee here in Texas told Business Insider.
Four employees told Business Insider that even if they had six days in a row, they would have to work six days in a row. A current worker in Florida told Business Insider that when he’s on the seventh or eighth day of work, he often “starts to make mistakes” and often doesn’t make mistakes because he’s “tired” and “tired.” don’t concentrate.”
In a statement to Business Insider, a Lowe’s representative did not say why some employees said they were asked to work six days in a row, or whether the problem was a store error or a system problem.
The Florida employee added that he sees the new system as causing “a lot of confusion,” as all departments are out of staff until noon. They added that their store managers usually have an easy way to prepare these lists.
Lowe’s Is Giving $55m Inflation Bonuses To Hourly Workers
“You talked about your family and the importance of it, and you took us out of our house,” said one worker. Joshua Lott / Reuters
But in some cases, management has stepped in to help retailers deal with problems caused by the new schedule, workers said.
“Our store is run by people, so they do everything they can to make us happy knowing that the quality of the company has gone down a little bit,” an employee from Florida told Business Insider.
A Lowe’s executive who asked that their position not be published added that they “have their hands on every single one of these lists,” confirming that their team is not happy with their list.
Lowe’s Home Improvement Company Culture
“I’m very open about it,” the manager said. “I’m sure some stores aren’t too comfortable with that. That’s why we made it work. Basically I have to revise every plan that comes out.”
But one Tennessee employee told Business Insider that they feel their store managers will be disadvantaged by the new walk-in laws. Business Insider reviewed internal documents and reported that employees would make “time card exceptions” to work six minutes earlier or six minutes later. later than the appointed time and “delayed without the permission of the leader of the people.” A representative for Lowe’s did not return Business Insider’s request for comment on the documents.
The employee in Tennessee said that in the past, he realized that management has more in such situations – that an exception can be made, for example, an employee who is late because he was busy with a customer.
The executive said the programs are a particularly “personal” issue for employees, as they directly affect their lives outside of work.
Lowe’s To Hire More Than 50,000, Give Bonuses To Current Employees
The Florida employee added that he has appealed
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As the ancient Sumerian saying goes: The family that steals a whole lot of identities in order to ring up a slew of fraudulent charges together, gets arrested together. A couple, their adult children and a daughter-in-law have all been nabbed by cops, accused of an identity theft scheme that brought in $56,000 worth of goods at Home Depot. [More]
Kids aren’t the only one coveting expensive toys — as we’ve seen all too often recently, adults are cashing in by stealing pricey items like Lego sets and other items and then selling them for a profit on eBay. But one man who had an eye for toys as well also stole a whole lot of other stuff too from retailers across the country. His total haul? Around $4 to $5 million, say cops, and his mom helped him out.
Far from backing away from the kind of same-sex imagery groups like One Million Moms have protested against in the past, JCPenney is embracing gay couples once again with a new ad featuring two dads and their kids for Father’s Day.
R. really would have preferred it if his lawyer had kept his trap shut. See, R. has a five-figure settlement coming from a lawsuit, and the lawyer somehow just happened to mention this to one of R.’s relatives. (That’s kind of, um, wrong, and could get the lawyer in trouble if he reported it.) His question for the Consumerist Hive Mind is this: now that they know he’s getting some money, how can he stop his relatives from approaching him with their hands out?
Any man who wants to become a father but doesn’t want to have to deal with going in for a doctor’s visit to check on his swimmers will now have an alternative to that experience, as drug stores will start selling an over-the-counter fertility kit next month.

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The U.S. Justice Department charged Glenmark Pharmaceuticals with conspiring with other generic drug companies to increase and hold prices for the cholesterol drug pravastatin between May 2013 and December 2015.
A federal appeals court upheld two patents for Amgen’s multibillion-dollar rheumatoid arthritis drug Enbrel, rejecting Novartis’ effort to void the patents.
A USA Today report found that from January through May 2020, 28 generic drugs in 405 dosages made the U.S. Food and Drug Administration’s list of drugs in shortage.
Twenty-six drug manufacturers were sued by the attorneys general of most U.S. states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.
France, Italy and Belgium acted to halt the use of hydroxychloroquine to treat patients suffering from COVID-19 amid questions about the safety of the generic anti-malaria drug.
Gilead Sciences entered into licensing agreements with five generic drugmakers to make the antiviral drug Veklury (remdesivir), the first medicine shown to be effective against COVID-19, available in 127 countries.
Numerous major global biopharma companies reported first-quarter 2020 earnings. Typically, the COVID-19 pandemic has affected the companies, although not necessarily in a straightforward way. Many of the companies reported increased sales for the quarter as customers increased stockpiles and inventory in preparation for the pandemic, while other forms of sales and clinical trials were negatively impacted. Here’s a look.
Generic drugmaker Aurobindo Pharma called off the company’s $1 billion acquisition plans for multiple assets owned by Sandoz after failing to secure approval from the Federal Trade Commission.
The U.S. Food and Drug Administration is requesting makers of all versions of the heartburn drug Zantac to remove the products from the market immediately due to the presence of a probable carcinogen.
Shares of Amarin Corporation were down more than 70 percent in trading after a judge ruled that generic companies can go ahead and seek approval of generic versions of the drug manufacturer’s heart disease drug Vascepa.


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Super Bowl Ads
If You Like Super Bowl Ads, Then Try...
Super Bowl Ads News
This year's crop of Super Bowl ads ranged from the humorous to the inspiring, and interestingly enough most of them had a dog in it. BMW had some great entries, as did Chrysler, Doritos and Sketchers. Check out five of the best Super Bowl commercials right here.
Previews for this year's big Super Bowl ads continue to show up on YouTube, and it looks like Audi has joined the fray with a new spot for the big game that spoofs "Twilight." Check out the anti-vampire commercial here.
Volkswagen looks like it has the market for cute "Star Wars" themed commercials cornered. In a follow-up of sorts to "Little Vader," the car company has released a preview of its Super Bowl ad for this year, which features a chorus of dogs barking a very familiar song. Watch it here!
It has been more than a decade, but William Shatner's "Priceline Negotiator" character is finally going to bite the bullet. Shatner is being dropped for a new spokesperson in time for the Super Bowl, and Priceline's last ad with Shatner will feature an explosive finish. Find out more here!
Believe it or not, this year's Super Bowl was the most watched show in television history. It beat out the long standing record held by "M*A*S*H" since 1983, and other amazing TV milestones. The Houston Chronicle reported that "Sunday’s game between the Green Bay Packers and Pittsburgh Steelers from Cowboys Stadium in Arlington was viewed by an average audience of 111 million viewers, according to the Nielsen Co.
Eminem might not be your immediate choice for a spokesman for a car, even a luxury car. But Chrysler decided to play up its roots in Detroit and chose a hometown boy to represent them. And represent them well he did. Chrysler produced the first ever commercial to air during the Super Bowl that lasted the whole two minute commercial break. Some people say it was not a wise choice.
Justin Bieber’s body has been doing some weird things lately. Following a “body switching” appearance on "The Daily Show," Bieber shocked fans during Sunday’s Super Bowl commercials by undergoing a total makeover. Appearing in Best Buy’s ad to promote a new technology buy back program, the 16-year-old looked aged with thinning hair on top and an almost unrecognizable face covered in mustache and beard.
In 1952, legendary American composer John Cage released what he believed was his "most important work." Entitled 4′33", the composition consisted of nothing but complete silence from the musician, who was instructed to stand entirely mute throughout the duration of the performance. A little bit crazy? Yup. But in using silence as the star of their latest Super Bowl ad, we think Pepsi is crazy like a fox.


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Hooters Veterans Eat Free on Veterans Day
Hooters, the original American wing joint, announced today its restaurants will continue the annual tradition of treating members of the nation’s armed forces – past and present – to a free meal Friday, November 11. Veterans or active-duty military who present proof of service or a military ID, with purchase of a beverage at any Hooters location across the country, may order a free dinner entree from the Hooters Veterans Day Menu (dine-in only).
That Menu includes five of Hooters’ select entrees:
10-Piece Boneless Wings
Grilled Chicken Sandwich
Buffalo Chicken Sandwich
Buffalo Chicken Salad
Diners can choose from a wide variety of hot, spicy or sweet wings from Hooters famous offering of six dry rubs and 14 sauces such as Daytona, Chipotle Honey or Samurai Teriyaki among other mouthwatering favorites.


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France’s push to clamp down on carbon emissions in the electric vehicle (EV) manufacturing process has effectively cut-off most China-made cars from its subsidy programme.
Europe’s third-largest economy unveiled revamped rules on consumer cash incentives for EVs on Thursday, and included a new criteria for eligibility — the amount of carbon emitted in the manufacturing of the car.
That means many Chinese-made EVs will no longer qualify for subsidies worth up to €7000 ($7,700), as China’s auto industry relies heavily on coal-generated electricity.
“We will no longer be subsidising car production that emits too much CO2,” French Finance Minister Bruno Le Maire said in a statement.
Le Maire said the new rules will give automakers an incentive to reduce their carbon footprint.
In September, one French official told Nikkei Asia that producing one small sedan in China creates “45% more emissions” than one made in Europe.
SAIC, Tesla hit
The updated scheme goes into effect on Friday, with around 65% of electric cars sold in France eligible for it. The list of eligible models includes 24 produced by Franco-Italian group Stellantis and five by French carmaker Renault.
Elon Musk’s Tesla Model Y will be eligible but not its Model 3, which is made in China.
The Model Y, which is larger and more expensive, is made mainly in Berlin and was the top selling EV in France over the first 11 months of the year.
Electric vehicle brand MG Motors, owned by China’s SAIC, said it expects the new rules to weigh on the French EV market.
“There are cars that will entirely lose their competitiveness”, an MG spokesperson said.
The brand had decided not to apply for the bonus scheme for its MG4 model because it was “designed to exclude us”, the spokesperson said.
The Ademe agency overseeing the process studied the eligibility of almost 500 EV models and their variants to include in the scheme.
Dacia, the low-cost Renault brand, also saw its Spring model imported from China excluded from the list.
Slowing ‘invasion’ of China EVs
President Emmanuel Macron’s government has for long wanted to make French and European-made EVs more affordable for domestic consumers relative to cheaper vehicles produced in China.
The average retail price of an EV in Europe was more than 65,000 euros ($71,000) in the first half of 2023, compared with just over 31,000 euros in China, according to research by Jato Dynamics.
The French government already offered buyers a cash incentive of between 5,000 and 7,000 euros to get more electric cars on the road, at a total cost of 1 billion euros ($1.1 billion) per year.
However, in the absence of cheap European-made EVs, a third of all incentives were going to consumers buying EVs made in China, French finance ministry officials say.
The trend has helped spur a surge in imports and a growing competitive gap with domestic producers.
Carlos Tavares, the CEO of Stellantis, which owns French carmaker Peugeot described the flood of Chinese EVs in Europe as an “invasion” and competition with Chinese manufacturers as “extremely brutal”.
- Reuters, with additional editing by Vishakha Saxena


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With artificial intelligence forecasted to grow over 33 percent in the next six years, business organizations are prioritizing AI integrations into their strategies. To help organizations streamline their AI applications, Google Cloud and C3 AI have announced a strategic partnership to give businesses the resources they need to succeed.
“Google Cloud and C3 AI share the vision that artificial intelligence can help businesses address real-world challenges and opportunities across multiple industries,” said Thomas Kurian, CEO at Google Cloud. “We believe that by delivering C3 AI’s applications on Google Cloud, and by partnering to address specific industry use cases with AI, we can help customers benefit more quickly and at greater scale.”
The partnership will make C3’s Enterprise AI tools available on Google Cloud, delivering an easy-to-use and complete solution for AI migrations. The partnership will also empower Google Cloud’s own products with efficient machine learning capabilities.
Customers in several industries such as manufacturing, supply chain, finance, healthcare, and telecommunications will have the ability to approach problems with an AI solution. The C3 AI solutions join with Google Cloud’s mega global market share used in over 200 countries.
“Combining the innovation, leadership, scale, and go-to-market expertise of Google Cloud with the substantial business value delivered from C3 AI applications, this partnership will dramatically accelerate the adoption of Enterprise AI applications across all industry segments,” said Thomas M. Siebel, C3.ai CEO.
Since the company was founded in 2009, C3 AI has been an industry leader in providing efficient enterprise AI solutions. The solution is used by major brands and government organizations such as Shell Oil & Gasoline, U.S. Air Force, Raytheon, and the United States Department of Defense.


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The U.S. Postal Service didn't conduct required impact studies on how service would be affected by closing Tucson's Cherrybell processing center and others across the country.
It's the Postal Service's own inspector general who said closing 82 facilities around the U.S. could cause service delays and ultimately hurt the USPS brand.
Processing of incoming mail at the Cherrybell facility is slated to move to Phoenix next April. More than 200 jobs will be affected in the move. It’s also expected to delay delivery of first class mail to Tucson by a day.
This is part of a nationwide effort to cut costs.
In a report, the office of the inspector general wrote that the service didn’t study how service would be affected, or adequately inform the public of its plans.
Sarah Ninivaggi, a public relations representative with the Postal Service, said the closures will go ahead, but impact studies – including one on Cherrybell - will be conducted starting in January.
She said her organization disagrees with the inspector general’s finding that it didn’t comply with requirements to inform the public of its plans.
“We’re committed to providing the level of customer service that our customers expect and deserve...statements alleging that we have not met these requirements are simply not true," she said.
The Postal Service has been plagued by dropping mail volumes in recent years.
Since 2012, it’s closed more than 140 processing centers around the country and the next round consolidations will save it $750 million a year.


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Union leaders from General Motors Co. factories across the country are flying into Detroit this weekend to either agree to take a proposed labor contract offered by the automaker to their members for a vote, or go on strike.
For United Auto Workers union rank-and-file emboldened by a U.S. president who's criticized the company for closing plants and cutting workers, there are at least even odds for GM's first walkout in a dozen years. The proposed contract applies to more than 4,500 workers at GM's massive Arlington assembly plant for large SUVs.
"It's just difficult to see how both sides can come to an agreement," said Kristin Dziczek, vice president of the industry and labor economics group at the Center for Automotive Research.
Over the past four years, American consumers bought record numbers of new vehicles and GM posted best-ever profits to match. The UAW wants a greater share in the spoils and to secure work for at least one of the four U.S. plants GM marked for closure last November. Management at the automaker is bracing for a downturn and hardly in a mood for largesse.
"Union membership expectations are very high given how well GM has been performing," Dziczek said. On a call with investors hosted by UBS Securities analysts this week, she said there's a greater than 50% likelihood of a strike and risk that the production halt could last several weeks.
Brian Rothenberg, a UAW spokesman, said it's premature to speculate on the likelihood of a strike. GM's goal is to continue having constructive discussions with the UAW on reaching an agreement, said David Barnas, a company spokesman.
GM and the UAW's current four-year labor pact expires Saturday at midnight. If the two sides reach a tentative agreement, leaders from locals around the U.S. will be briefed, then hold elections at union halls to decide on ratification. If union negotiators don't like GM's offer in this round of talks — the first headed by UAW President Gary Jones — they could either agree to an extension or call for a walkout.
The UAW last called a strike on GM in 2007, though it lasted just two days. Earlier this month, the union said 96.4% of GM members voted in favor of authorizing a strike. Jones called this a "key tool in the tool belt" for his negotiating team.
"It is a real possibility that the UAW could strike GM if a tentative agreement cannot be reached," Tim Stannard, the president of UAW Local 1853 in Spring Hill, Tennessee, wrote to members this month. The union boosted weekly strike pay in March.
A deal with GM will set a precedent for wages, benefits and other matters that the UAW will use to set a pattern for similar deals with Ford Motor Co. and Fiat Chrysler Automobiles NV.
Major sticking points for the UAW include limiting the number of temporary workers GM is allowed to use, giving new hires a quicker route to making senior-level wages of more than $30 an hour and securing work for some of the plants in Michigan, Ohio and Maryland that GM hasn't allocated future product to, said two people briefed on the union's priorities.
The union also wants to secure a cost of living allowance, or COLA, that would help offset any inflation over the course of the agreement, the people said.
The UAW is furious over GM's decision to idle the Chevrolet Cruze compact car plant in Lordstown, Ohio and schedule the end of production at another factory in Hamtramck, near Detroit, for January. Two transmission plants — one in a Detroit suburb and another near Baltimore — have shut down.
President Donald Trump has weighed in by publicly calling for GM Chief Executive Officer Mary Barra to open the Lordstown plant or sell it. While he praised Barra in May for efforts to sell the facility to the financially troubled electric-truck maker Workhorse Group Inc., he went back on the attack last month, then hosted the CEO in the White House last week.
Terry Dittes, the UAW's top negotiator with GM, has told union local leaders that getting products for both Lordstown and Hamtramck plants is a big priority, one of the people said.
The problem is that last year, GM had about 1 million vehicles worth of U.S. production capacity that went unused, according to researcher LMC Automotive. Closing Lordstown addressed about one-third of that excess, but unless GM can boost utilization by adding new models or improving sales of existing vehicles, more production needs to go, said Ron Harbour, a senior partner for consultant Oliver Wyman.
Since many Lordstown workers have already transferred to GM plants in Indiana, Kentucky, Michigan, Missouri and Texas, and GM is working on a deal to offload the facility to Workhorse, it appears less likely to be allocated a new vehicle than Hamtramck.
On the other side of the negotiating table, GM wants to be able to use more temporary workers.
About 7% of GM's union staff, on average, are temps the company can more easily dismiss in a downturn than full-time workers. Temps also get paid as little as $15 an hour, about half the wage of the automaker's senior factory hands.
The UAW wants to reduce the number of temps as a means to boost membership of full-time workers, Dziczek said. The union may even push to establish a path to permanent employment. Right now, even temps that have worked at a GM plant for several years must apply like an outside worker to get the job, she said.
Adding further tension is the federal investigation into corruption among union leaders. Senior staff at the UAW and Fiat Chrysler have been sentenced for taking money from a union training fund in a case that may have compromised their 2015 labor agreement. Last month, the government alleged corruption at the UAW-GM training center and charged a former union official with wire fraud and money laundering.
Federal Bureau of Investigation agents raided the homes of Jones, his predecessor Dennis Williams, and other union officials last month.
With such a cloud hanging over UAW leadership, they may feel compelled to drive a tougher bargain, said Harley Shaiken, a labor relations professor at the University of California at Berkeley.
"Many members are angry and turned-off," Shaiken said. "It adds to an already difficult set of negotiations."
David Welch, Bloomberg


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Demand is shifting more to supermarkets now that restaurant business is curtailed
K-State Research & Extension
MANHATTAN – On a recent Thursday evening, Kansas State University hosted a meeting of more than 100 people. That’s not unusual, but this time because of the pandemic sweeping the country, the gathering was held online rather than in person, and focused on what COVID-19 means for livestock producers.
So far, it’s meant falling cattle and hog prices linked to shifting demand and changes in the supply chain, said Glynn Tonsor, K-State Research and Extension agricultural economics professor and extension livestock market specialist.
He spoke to participants via a new series of online gatherings, each focused on a different aspect of how COVID-19 is impacting agriculture.
“Everybody, not just the ag and livestock sector, is adjusting to many things for the first time in their life in many ways. The (meat) supply chain is taxed and that shows up in the marketplace and even analysts and folks like me are taxed, so we’re doing our best,” Tonsor said.
He noted that CME cattle and hog futures prices for April delivery have fallen 20% to 40% since January 11 when the first death from COVID-19 was reported in China.
Live cattle futures for April delivery, for example fell 26%, from $127.96 per hundredweight (cwt) on Jan. 10 to $94.28 on April 9. Hog futures plummeted 42% from $74.13 per cwt to $42.90.
Cattle and hog futures for October delivery have also been down, Tonsor said, but not as significantly, indicating there is optimism the agricultural sector will make adjustments between April and October.
To help provide a view into how the global pandemic is affecting the cattle industry, Tonsor authored the Cattle Industry’s COVID-19 Economic Damage Assessment.
U.S. meat demand is good during stronger economic times and weaker during poor economic times, he said, noting that beef demand, in particular is “extra sensitive” to the macroeconomic environment, and it’s become more so over time.
“That is particularly worrisome because most folks who are macroeconomists think we have a weaker macroeconomic environment today than we did two months ago,” he said. “It’s pretty hard to argue that point.”
He noted that meat demand is shifting, from foodservice to grocery demand. Prior to the pandemic, strong demand from institutional customers – hotels, restaurants and schools helped drive prices. With schools across the country closed and restaurants reducing operations to curbside or delivery only, demand has lessened for higher-priced meat cuts typically sought by restaurants but increased for meat products typically bought in grocery stores, such as ground beef.
The difficulty he said, is “we raise whole animals and we produce a lot of different products. Some of those products traditionally go primarily through foodservice and some go largely through retail.
“When we have a shock where one of those channels, in this case foodservice, is closed off, it creates challenges to repurpose parts of the animal,” he said.
He gave the example of bacon, most of which typically goes through foodservice channels to restaurants, rather than to consumers’ tables via grocery stories. Bacon is currently “stacking up” without that traditional primary outlet, which is a factor weighing on pork prices.
Tonsor launched a resource in February called the Monthly Meat Demand Monitor to help industry participants monitor consumer preferences, views and demand for meat. The tool is supported by checkoff funding from the beef and pork industries.
He noted that the temporary closure of several meat packing plants linked to COVID-19 is creating a bottleneck in the livestock supply chain.
“I think the industry is doing the best it can to deal with that, but it’s not surprising that this week we’ve had some unfortunate developments that are leading to slowdowns and temporary pauses in running some of our plants,” Tonsor said.
While no one plant represents more than 7% of national capacity, he said, the challenge is that no one knows how many plants the virus will affect and for how long.
After crunching numbers for various beef cuts over the past several weeks, Tonsor said “In aggregate, I think demand for beef is down, even though we’ve had a run on ground beef.”
Because there are so many unknowns about the pandemic, it’s unclear what the ultimate effect will be on the livestock market, Tonsor said. He and Iowa State University agricultural economist Lee Schulz estimate, however, that 20% less utilization of meat packing plants (because of COVID-19) would result in a 27% reduction in fed cattle prices and a 36% reduction in market hog prices.
Tonsor noted that the Livestock Marketing Information Center or LMIC on April 3 projected 2020 prices to be down because of the COVID-19 outbreak, but its projections were more optimistic than the futures market suggests. However, those projections likely have changed given news of temporary plant closures since those estimates came out.
Markets often operate like a pendulum, Tonsor said, but added that it’s premature to say markets have hit their bottom from the pandemic.
Longer term, he believes market disruptions will squeeze out some independent producers who did not have price protection in place and may also have an impact on how price reporting and price discovery occur.
“Populism” was already growing before the COVID-19 outbreak in the U.S. and around the world,” he said, “with people questioning the role of globalization. Certainly during COVID we have ramped up this discussion and action to improve domestic security, whether that’s on food, medical supplies or other supplies, there’s definitely a lot of effort in that space.”
If the current trend away from globalization of markets continues, he said, it will mean less international trade: “That would not be good for the U.S. ag sector. To support the size of the industry in the U.S. we need to sustain a presence in a global world.”
Relationships, whether personal or financial may be more important now than ever, he said. He encouraged producers to reach out to their lenders, plus those they buy from or sell products to.
“I have full faith that we will adjust,” Tonsor said. “The U.S. is going to remain a very large ag producer. I’m not doomsday to that level. I have concerns that we’re in the midst of lots of shocks, but at the end of the day in the aggregate, I remain optimistic for the industry and for society as a whole.”


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Yesterday Gawker's Sam Biddle published the article "Snapchat Lost a Ton of Money Last Year," which is based on leaked financial documents concerning Snapchat's financial health over the year 2014. The article isn't very good: Biddle goes a little too far with his Gawker-ish schadenfreude-without-the-shame thing and gleefully gloats over how little the company made last year: $3.1 million, with a $128 million loss. (In case you wanted to know Gawker's throughline on this, the article is headed by a gif of a Snapchat ghost-thing pooping a continuous stream of money. So there's that.)
For a more sober summary of the same information, Business Insider's Alyson Shontell, in "Snapchat generated only $3.1 million last year," has a just-the-facts analysis that provides the same figures with much less bloviating. A big part of Snapchat's down year in 2014 was that the company didn't even attempt to make any money until October. As is the habit of many startups, both successful and not, audience size and growth of service were the main priorities, with revenue becoming a focus only after industry cache had been achieved.
This late-in-the-game attempt at making profits (along with its high-priced and lucrative 'Discover' advertising option not being rolled out until very early this year) makes it very hard to ascertain exactly how valuable Snapchat, or any company like it, actually is.
For example, Snapchat was valued at $3 billion when Facebook tried to buy it out in 2013. A $3 billion valuation holds the strange position of being incredibly low for an app so popular among a very valuable marketing demographic (Snapchat it has told investors its value is in the $15-$16 billion range). But $3 billion also seems incredibly high for a company that is very young, has a problematic amount of executive turnover, hasn't really made any money, has only recently started trying to make money, and doesn't actually produce anything tangible or sell anything more substantive than advertising space.
Because it's the internet, and traditional markets don't know how to accurately valuate anything digital, you end up with none of the numbers making any sense, or at least not making any common sense. Snapchat could be the next Instagram, or it could be the next Foursquare. No one really knows, and anyone who says they do is overconfident.
Snapchat does have about $300 million in cash-in-hand just kind of sitting around, which could pay off the remainder of my student loans roughly twenty-three-thousand times, in case you were wondering.


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The planned purchase of Shazam music recogniti app for $ 400 milli is the subject of a Commissi investigati European Commissi
The Commissi is ccerned that this purchase will give Apple an unfair advantage. because of the access it would have to users' data, and there is also ccern that the csumer's choice may be limited. Initial investigatis showed that Apple could use the recovery to encourage Shazam users to switch to its own music streaming services, so the commissi is cducting a more in-depth investigati.
Launch of its investigati, The European Commissi said: "Access to such data could allow Apple to directly target customers of its competitors and encourage them to switch to Apple Music, which could result in a competitive disadvantage for competing streaming music services. " The investigati will also examine whether Apple could stop referrals from Shazam to Spotify and Deezer.
Margrethe Vestager, European Commissier for Competiti, says:
The way people listen to music has changed significantly in recent years, with more and more Europeans using services streaming music. Our investigati aims to ensure that music lovers will ctinue to enjoy attractive musical offers and will have no less choice as a result of this proposed merger.
In December, Apple cfirmed that it was buying Shazam – but significantly less than the $ 1 billi valuati that had previously been placed the company.


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As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
Microsoft has new services that can provide gaming revenue on top of console sales.Technologyread more
Nelson Peltz and David Taylor, once adversaries over the direction of Procter & Gamble, met Thursday as allies taking a victory lap for the company's stunning turnaround.Delivering Alpharead more
More than half of the patients have been younger than 25 and 16% are younger than 18, CDC principal deputy director Anne Schuchat said.Health and Scienceread more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
Trian Partners co-founder and CEO Nelson Peltz explained to CNBC on Thursday the backstory to his firm's position in struggling General Electric.Delivering Alpharead more
Here's a look inside Apple's flagship Fifth Avenue Store, known as the "cube," in New York City. It reopens on Friday and has been closed since 2017 for renovations.Technologyread more
Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software.
When Facebook was testing Messenger Kids before rolling it out in December, the company found "It was hard for kids to initiate the communication," said Tarunya Govindarajan, the manager who built the product, to an audience gathered in Washington for the company's Global Safety Network Summit. "We wanted to give them nudges to start the conversation," she said.
So along with a visual chat feature and video content, Facebook built "kid-friendly effects" into the product, including augmented-reality photo filters like "stickers, masks and frames" to encourage kids to use it, Govindarajan said Thursday.
That suggests many children within that age group are not as ready to use mobile communications software as some have argued.
For example, Sean Arthurs, senior manager of education initiatives for the National Parent Teacher Association, said at the same event that the group's research found 80 percent of children ages eight to 13 were using mobile communication devices.
"Ninety percent of kids have access to a phone or tablet and two-thirds have their own device," Arthurs, calling the results of the group's survey of 1200 parents "consistent with other research" about kids' usage habits.
The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company.
Facebook introduced the mobile application for iPhone and iPad users in December and an Android version is now available in the Google Play Store.
There's no advertising in the product and it does not require users to open a Facebook account. It allows parents to control who their kids communicate with using the app.
Yet a group of child-advocacy groups in January asked the company to discontinue it, citing multiple studies showing that heavy social media use had negative mental health effects on teens and adolescents.
When CNBC asked Facebook last month if it planned to continue the product, the company replied in an email that read in part:
"Since we launched in December we've heard from parents around the country that Messenger Kids has helped them stay in touch with their children and has enabled their children to video chat with fun masks. We worked to create Messenger Kids with an advisory committee of parenting and developmental experts, as well as with families themselves and in partnership with National PTA. We continue to be focused on making Messenger Kids be the best experience it can be for families."


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Dr. Pete Meyers on How to Deal with Major SERP Changes
June 15, 2016•30 min
Cognitive psychologist and marketing scientist Dr. Pete Meyers is the brains behind MozCast – the Google algorithm “weather report” that chronicles changes to the SERP as they happen. Like the SEO analysts at Bruce Clay, Inc., Meyers stays on top of SERP changes. There are an estimated 500+ changes to the Google algorithm each year, and these changes inform digital marketing strategy. Catch up with the latest changes and how to deal with them in this conversation between Meyers, Kristi Kellogg and Paula Allen!


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A new tweet from that account now teases a July 10 release date for next possible Surface.
Both the iOS and Android Microsoft To-Do apps have updated to add the importance and collaboration features that were added to the Windows 10 version a few days ago. Here’s the official release notes for the iOS update. New:
The VLC app for Windows 10 Mobile smartphones and Windows 10 computers has updated to Version 3.1.0. While this update is undeniably a small one, it does come with a pretty major feature; support for ChromeCast.
The No Man’s Sky video game is now available to pre-order digitally on Xbox One consoles ahead of its July 24th release date.
Microsoft announced its 4th quarter earnings for fiscal year 2018 just a few minutes ago, and as expected, the company continues to ride the growth of Azure, the success of Office 365 and now Microsoft 365, and some bounce back on PC sales numbers to mark another quarter of strong earnings results.
While the Windows Insider team didn’t go into too much details about the delay, it looks like they didn’t have a build that reached their quality standards this week.
LinkedIn has announced this week a couple of new features to encourage conversations and content creation on the professional social network.
Various company officials have stated this week at Inspire that Microsoft Teams has now reached feature parity with Skype for Business.
In the latest burst of the saga, a Reddit post claims that Microsoft might launch the 10-inch Surface as early as this week.
Microsoft has started testing the latest Xbox One system update with members of the Xbox One Preview Alpha Skip Ahead Ring this month, and unfortunately, the preview build released last Thursday caused some issues with apps and games failing to launch.
Microsoft has just opened up a new flagship store in Taiwan, the 9th in the Asia region
隆重推出人民币888元开业特惠天津2014年5月29日电 /美通社/ -- 将于2014年8月8日开业的天津香格里拉大酒店现已接受客房和宴会预订，客人现在就可预订酒店特别推出的开业特惠。
It's over four years since Deepwater Horizon went belly up—but the whereabouts of two million barrels of oil that burst out from the bottom of the Gulf of Mexico has remained a mystery. Now, a team of scientists believe they've found it.Read more...
两个年轻人，工作六个月，赚到 600 万美元，你信么？ 我真的没有骗你。匿名社交应用 Secret 的两个创始 […]
LOS ANGELES — For some reason, the Giulia Quadrifoglio feels like the true return of Alfa Romeo to the American shores. Sure, they debuted the 4C sports car last year, but this one feels more significant. Don't agree? Well, maybe these figures will change your mind.See also:
One of the most popular, engrossing journalism longreads of 2015 ran in The New Yorker in July. It told of a massive earthquake that will one day rock the Pacific Northwest to its coreThing is, a mini version of that already happened — exactly five years ago Friday.
3 月 18 日，尽管硅谷大亨对 MBA 冷言冷语，但事实上，美国科技公司招募的商科毕业生数量却达到了史无前例的程度。根据《彭博商业周刊》的调查，2015 年春天接受录用的美国商学院毕业生中，约有 16% 前往科技公 ... ...


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NETHERLANDS: New Ahold CFO sees debt at €7-9bn; Q2 sales drop – reports
Incoming chief financial officer of troubled Dutch retailer Ahold said today [Monday] that debt levels between €7m (US$7.9m) and €9m would be satisfactory.
Finnish daily Hensingin Sanonat quoted Hannu Ryopponen as saying that banks could, however, demand that debt be lower than this because the company's earnings outlook is uncertain.
The company currently has debts in excess of €12bn, and is selling off some of its assets to lower debt. The sale of its 99.6% interest in Chilean unit Santa Isabel to local retailer Cencosud was completed last week, for example.
Meanwhile, sales in the second quarter are expected to be reported down at least 10% when the group publishes a trading update on Friday, reports the FT. The flagship supermarket division Albert Heijn is struggling at home in the Netherlands, while sales are also seen down at US Foodservice, the distribution division at the heart of the accounting irregularities that struck the company.
Dutch retailer Ahold has announced the completion of the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores, part of its US subsidiary Tops Markets....
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Danish based dairy company Arla Foods is opening a new representative office in Hungary....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
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Tech crackdown survives House panel’s marathon slugfest
Sweeping antitrust bills aimed at tech giants provoked schisms in both parties and a debate that stretched past daybreak.
The House Judiciary Committee voted in the wee hours Thursday to block the hugest tech companies from buying their competitors and disadvantaging their rivals — part of a series of bipartisan moves, stretching overnight toward dawn, aimed at hobbling Silicon Valley’s reigning powers.
Still to come later Thursday is a vote on the panel’s starkest proposal: a bill that could make it easier to break up tech giants like Google and Facebook.
Taken together, the package of bills would represent the most significant changes to U.S. antitrust law in decades.
But reaction throughout the Capitol to the panel’s tech antitrust legislation showed that the effort faces serious friction from lawmakers of both parties, despite years of growing anger at the industry among Democrats and Republicans in Congress.
The most notable pockets of resistance during Wednesday’s and Thursday’s 19-plus-hours-and-counting markup came from lawmakers from California, the home base of Google, Facebook and Apple. One lawmaker not on the committee, Silicon Valley-based Democrat Ro Khanna, separately told POLITICO that he will ask a fellow Californian, Speaker Nancy Pelosi, to retool the legislation.
“Many of these bills are going to die in the Senate if they even get out of the House,” committee member Darrell Issa (R-Calif.) predicted after 10 p.m., during an hours-long slugfest over one of the package’s less controversial bills.
Still, the committee pressed on into the night and until daybreak Thursday, in a debate that included side arguments about Chinese oppression, “cancel culture,” Dr. Anthony Fauci, the Jan. 6 assault on the Capitol, and accusations that the bills would go too easy on Microsoft.
The series of votes came just 12 days after the panel’s Democratic leaders announced five bills that are aimed squarely at just a handful of the largest tech titans: Google, Facebook, Apple and Amazon. A sixth bipartisan bill would help state attorneys general seize home-court advantage in antitrust suits.
The most controversial bills include one that would prohibit the biggest tech platforms from acquiring potential rivals. That ban, which the panel approved just before 2 a.m. Thursday, is aimed at preventing the kinds of deals in which Facebook bought the popular photo-sharing app Instagram and Google acquired the wearables company Fitbit.
About 5 a.m., the committee voted to bar platforms such as Apple and Amazon from giving their own products unfair advantages over rivals. Then it took a break, scheduling a 11 a.m. debate on one final bill: a measure that would give the Justice Department and the Federal Trade Commission more leeway to sue to break up the biggest tech platforms.
Those bills have given the most pause to critics who maintain they could have far-reaching implications for the U.S. economy.
Before they could even get to those, however, the committee spent seven hours debating a bill that would make it easier for users to transfer their data from one tech platform to another.
One recurring theme during the hours of debate was uncertainty over whether the package’s provisions would affect Microsoft, which has not been a focus of the committee’s antitrust investigations but ranks second behind Apple in the list of the world’s most valuable companies. Some Republicans accused the bills’ authors of crafting them to exempt the Redmond, Wash.-based Windows- and Xbox-maker.
Rep. Pramila Jayapal (D-Wash.), who took part in the panel’s 18-month investigation and is a sponsor of several of the bills, said she wasn’t sure why members assumed that the bill wouldn’t apply to Microsoft.
“The assumption that Microsoft is not covered is just not correct,” she said.
The committee rejected attempts to broaden some of the packages’ provisions to apply to a much wider array of businesses, which would have swept up payments companies like Visa, Mastercard and PayPal, as well as a GOP proposal to address alleged “shadow banning” of conservatives by Twitter.
House Judiciary Committee Chair Jerry Nadler (D-N.Y.) compared the legislation to the 1996 Telecom Act that revamped the telecommunications industry and created many of the existing rules for the online world.
“Today is the start of an opportunity for the United States to reassert its leadership role on this issue internationally,” Nadler said in opening the markup. “With this package of historic legislation, we have the opportunity to take control of our own destiny — to be a global leader in developing rules of the road for the digital economy.”
Alliances, rifts in both parties
The bills’ supporters include both liberal Democrats and conservative Republicans, united in seeking to rein in companies they accuse of misusing their vast power. Nadler, who had helped steer the impeachment of former President Donald Trump, and Rep. Matt Gaetz (R-Fla.), one of Trump’s most ardent supporters in Congress, laughed at one point at the fact that they finally agree on something.
But the cracks within both parties quickly began to show.
“I know this is a moment where there’s been an effort to have bipartisan support,” Rep. Zoe Lofgren (D-Calif.), who has close ties with Pelosi, said as she prefaced an objection to one of the bills. “But I think there’s serious problems with this proposal.”
Rep. Ted Lieu (D-Calif.) complained that the committee has not held a hearing on the package of bills.
“Many members of this committee are now grappling for the first time with the complex field of antitrust law as applied to the complicated area of computer technology,” Lieu said. “The proposed legislation has enormous consequences and Judiciary Committee members who are not on the subcommittee have not heard from a single expert witness, software engineer, or third-party seller to understand how this recently introduced bill text would actually operate in real life.”
The bills faced a stream of amendments throughout the day and night, and key players like Pelosi and President Joe Biden have yet to weigh in publicly on the antitrust package — nor has Trump, who still wields significant influence over congressional Republicans. Only two of the bills have companion versions in the Senate so far.
Another Californian, House Minority Leader Kevin McCarthy, has been actively opposing several of the bills and intends to put out his own tech legislation, which he says will better align with conservative values. Ohio Rep. Jim Jordan, Judiciary’s top Republican, gave a short preview before the markup began Wednesday, saying the GOP is working on bills to repeal online companies’ liability protections, allow users to sue over alleged censorship and speed up the legal process to break up the tech giants under antitrust law.
Ultimately, the most serious threat to the bills’ fate will probably come from within the Democratic caucus. The leaders of the centrist New Democrat Coalition, one of the largest caucuses in Congress, have been agitating against the package, saying some of the proposals could could result in weakened privacy and cybersecurity protections.
Californians weigh in
Meanwhile, Democrats and Republicans from California banded together to vote against several of the bills Wednesday.
Khanna, whose district includes the headquarters of Apple and Google and who has been a leader on tech issues in the House, said he believes the bills are “poorly drafted … by people who I think don’t understand technology.” The legislation is based on recommendations from the committee’s 18-month investigation of the digital marketplace, which solicited input from a broad range of antitrust scholars, nonprofit groups, federal enforcement agencies, less dominant tech companies and other key players.
“The question for the committee is: Is the goal theatrics or do they want to have substantive enforceable antitrust legislation?” Khanna, who is not on the Judiciary Committee, told POLITICO by phone. “If it’s the latter, I’m happy to work on that.”
Khanna said he plans to ask Pelosi to come together with “thoughtful” members of the House Judiciary Committee, as well as Senate antitrust hawk Amy Klobuchar (D-Minn.), to hash out “well-crafted” antitrust legislation.
“The speaker really understands, and has always understood, technology and understands the issue with great depth,” Khanna said. “I have confidence in her judgment of getting the right people.”
Pelosi’s office did not offer comment when asked about the concerns voiced by members of the California delegation.
Fight for ‘our economic future’
The antitrust package, which among other provisions would prohibit Apple, Amazon, Facebook, Google and possibly Microsoft from discriminating against competitors and would limit their ability to buy up potential rivals, has created divisions on both sides of the aisle since the committee introduced it this month.
Antitrust subcommittee Chair Rep. David Cicilline (D-R.I.) said Congress must curb the tech giants’ power — for the sake of American capitalism.
The antitrust legislation “is fundamentally about whether or not we have an economy where businesses fighting for economic survival can actually succeed,” Cicilline said. “It is about whether our economic future is going to be defined by the success of the best businesses with the best ideas, or simply the biggest companies with the biggest lobbying budgets.”
But an increasing number of moderate Democrats, including several of the committee’s members from California, have expressed concerns that the legislation goes too far.
Meanwhile, the bills are exposing a schism within the GOP.
Rep. Ken Buck (R-Colo.), the ranking member of the House Judiciary antitrust subcommittee, is a co-sponsor of all of the bills on Wednesday’s agenda — but he’s facing loud opposition from Jordan, the committee’s top Republican. Jordan is expected to propose a series of amendments to the legislation, which he has derided as Democrat-led measures that would give the Biden administration too much power.
Jordan said the bills don’t address Republicans’ main concerns with the tech companies: Online platforms’ alleged bias against conservatives.
“Big Tech censors conservatives — these bills don’t fix that problem, they make it worse,” Jordan said in his opening statement. “They don’t break up Big Tech, they don’t stop censorship.”
Jordan also wrote aFox News op-ed on Tuesday with Mark Meadows, a former chief of staff to Trump, lambasting the bills.
Debate over one of the package’s least controversial bills, a measure that would increase merger filing fees — dragged on for nearly three hours amid Republican complaints that the legislation would do nothing to limit how the DOJ and FTC spend the new funds.
The panel eventually voted 29-12 to advance that measure, with five GOP lawmakers signing on: Buck; Gaetz; Burgess Owens of Utah; Chip Roy of Texas; and Victoria Spartz of Indiana.
Another less controversial measure, which would bar companies from seeking to relocate antitrust suits brought by state attorneys general, also generated a fair share of debate and opposition from California lawmakers, including Lofgren and Issa. The bill, backed by the attorneys general of 52 U.S. states and territories, is a response to Google’s attempts to move a lawsuit out of federal courts in Texas.
What about Microsoft?
The Microsoft debate provided some of the markup’s most notable fireworks.
Rep. Thomas Massie (R-Ky.) waved a document that he called evidence from a whistleblower showing that Microsoft had received an advance copy of the legislation before it was introduced June 11.
Massie’s document appeared to be the same draft of a bill that POLITICO had published in full for its subscribers on June 9, except with a watermark that read “Confidential — Microsoft” on each page. That version would have focused tougher antitrust scrutiny on any company that had both a $600 billion market value and 500,000 U.S. users, which would have expanded the number of companies affected by the legislation.
Cicilline has said he does not know how specifically the legislation would affect Microsoft, but denied Wednesday that the bills’ final language offer any favoritism to the company.
Cicilline said the bills apply to companies that meet a specific set of criteria: They must have a market capitalization of $600 billion or more, have 50 million U.S. users or serve 100,000 business users, and offer a platform that acts as a “critical trading partner.” (Only a handful of companies in the world would meet all those benchmarks.) He said the FTC and DOJ will be tasked with determining whether Microsoft, which has a market cap of $2 trillion and products used by millions of consumers and businesses, meets that definition.
“No company is exempted. Period,” he said.


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Next generation home security devices achieve a complete replacement of existing security systems, 3D video cameras, automated connected thermostats, access sensors, and intrusion detection devices can alert a person on the smart phone. Devices are wireless, are more energy efficient, last longer and have a significantly lower cost of operation.
The connected life style should have a market potential of US $731 billion by 2020, this is according to Frost and Sullivan. This figure includes revenue from all sectors that touches the connected home. Cloud computing, mobility, low cost sensors, big data are driving the Internet of Things (IoT) and connected industries.
It seems the Energy Service Network Association (ESNA); the body that developed the Open Smart Grid Protocol (OSGP) will have to go back to the drawing board with the Open Smart Grid Protocol. Researchers, Phillip Jovanovic from the University of Passau in Germany and Samuel Neves from the University of Coimbra in Portugal have identified weaknesses in the authenticated encryption of the protocol.
Traditional home automation devices were designed to control systems within a house and within a limited range of connectivity; however, with recent developments across different areas of connectivity of appliances and devices, these systems enable users to monitor and control them even when they are on the move. This includes mobile connectivity features, an integral component of smart homes provided by device manufacturers; and compatible communication protocol and technology based products offered by Internet Service Providers.
Poly-Control has taken advantage of the new features in the Z-Wave Plus certification program in a new range of smart clocks for the connected home market. The next generation of smart lock are due out in spring this year and will offer Z-Wave Plus' richer feature sets such as 250 percent higher data rate.
I think security poses the greatest risk to the growth of the connected home market. The many reports of hacking and vulnerabilities in connected home solutions throughout 2014 caused many to raised concerns about the readiness of these solutions for consumers. I see these issues as signs saying the sector has more work to do to improve security. The good thing is we are still at a stage where we can fix these issues and build better solutions to gain public trust.
Intel Security a division of Intel has launched new security solution for the smart grid sector, called Intel Security Critical Infrastructure Protection (CIP). Intel said CIP is the result of extensive industry surveys among smart grids executives and a joint development in collaboration with the Department of Energy, Texas, Wind River and Texas Tech University. The solution works to protect today's smart grids from cyber and other IT related attacks and offers the added benefit of being able to work with legacy and new smart grid infrastructure.
OKIDOKEYS has teamed up with ColorWare, a company specializing in customizing high-end electronics to allow its customers to pimp their locks. The partnership allows ColorWare to sell OKIDOKEYS Smart-Lock directly from their site, allowing OKIDOKEYS' customers to buy devices in their chosen color from a palette of 56 fashion colors or they can send in the Smart-Lock they already own.
Honeywell is showcasing the latest additions to its Lyric family of products at CES 2015. Its professional-grade home security system can help you stay in control of your home comfort and security whether you are at home or away. Honeywell Lyric range features awareness cameras, motion, smoke and intruder detectors; the Lyric home security will also integrate with a range of home automation products, such as connected thermostats, lighting, shade and lock controls.
Check Point Software Technologies researchers have uncovered a vulnerability in millions of Small office/home office (SOHO) routers which they said has been around since 2002. The Vulnerability Research Group detected approximately 12 million devices in 189 countries and said the vulnerability exists on many different models and makes from different manufactures, making this one of the most widespread vulnerabilities revealed in recent years.


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The identities of beneficiaries of PM Kisan and other social security schemes were allegedly used to operate 4,000 shell companies and 16,000 fake GST registrations.
The GST authorities launched the two-month anti-evasion exercise on May 16 and about 10,000 fake registrations were detected in the first week.
Tax authorities have carried out searches at multiple locations and have arrested seven persons in this connection.
"It was a huge organised racket operating in 16 states creating shell companies and fake GST registration by stealing data from PM Kisan, Rural employment scheme and other schemes," a senior official told ET.
These shell companies were used to generate fake bills, which were then sold to various companies to claim input tax credit. Three separate teams worked in a multi-state operation to create shell companies from stolen identities, generate fake e-way bills or fake invoices and supply invoices to companies that required them.
The official said in some cases people had been made directors of the companies without their knowledge, which came to light after they received tax notices at their address. Authorities will soon send notices to companies that availed these fake invoices to claim input tax credit.
The Directorate General of GST Intelligence (DGGI) has also recovered tax evasion in some cases, another official said.
Gujarat state GST officials had first detected a fake invoice racket using stolen IDs at Bhavnagar and Surat following which a nationwide drive was launched. Similar operations were subsequently conducted in Uttar Pradesh, Madhya Pradesh, Rajasthan, Delhi, Maharashtra, Kerala, Punjab and Haryana.
The official said field formations had been instructed to use documentary evidence before search and to take care that genuine businesses are not "harassed."
Sunday, 03 Dec, 2023
- India Not Party to Green Pledge by 118 Nations
India didn’t sign the Global Renewables and Energy Efficiency Pledge that aims to triple global renewable energy capacity and double the rate of energy efficiency by 2030. That’s despite having successfully ensured a commitment to the aspiration by the G20 in the New Delhi Leaders’ Declaration.Towns A Study in Aspirational Borrowing as Overseas Edu Calls
A growing desire for international education is sweeping small towns across the country, spurring demand for study loans and underscoring the burgeoning ambitions of young Indians.At IITs, Startups Score Advantage Points
In a tough year, the Indian Institutes of Technology (IITs) are wooing startups with early slots including Day 1, which has been rare in the previous placement seasons.Placements have started at the old IITs on December 1, also known as Day 1, with a good line-up of startups.
Download The Economic Times News App to get Daily Market Updates & Live Business News.


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PetSmart Pharmacy aims to provide easier, more affordable options for pet owners to care for their pet’s total health and wellness, according to PetSmart officials.
All 64 Pet Food Express stores will carry the full line of Treatibles products.
PetSmart and PetSmart Charities found homes for a wide variety of adoptable pets, including dogs, cats, and even small pets such as rabbits, guinea pigs and birds.
The multi-year partnership with Jack Hanna kicked off in September.
Coco and Pud offers an extensive collection of luxury pet accessories for four-legged friends at affordable prices, according to company officials.
It marks the fourth consecutive year the company has been honored by B Lab.
PupPod, which made its first appearance at the event, was among 18 innovative early-stage businesses in the animal health and nutrition industry to present at the Forum.
The five winning groups will each receive $1,000 to support their organization’s needs.
The store is not anticipating any closures or temporary shutdowns during the conversion process.
Since the inception of this fundraiser in 2010, Pet Valu has raised more than $2 million for the organization.


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The auction was held; a bid was made and accepted. But the developer who made it wants out of the deal.
- Filed Under
The good news: A Chicago-based real estate developer with a growing presence and numerous properties near Purdue University made the top bid to purchase Market Square Shopping Center, a sprawling retail spot on Lafayette's north end that was put on auction after its owner defaulted on a mortgage.
The bad news: South Street Capital Operating LLC - owned by Marc Muinzer, of Boiler Cribs apartments in West Lafayette, and Matt Garrison - wants to back out of the deal, according to paperwork filed Nov. 5 in Tippecanoe Circuit Court.
"(W)e are officially withdrawing our offer and have canceled the ...


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Bed Bath and Beyond is reducing the size of its flagship store in New York City, but the retailer is making room for a new strategic partner in Casper.
When the store in Midtown Manhattan reopens on Thursday, it will include space for Casper, giving the online sleep company its first-ever branded physical shopping location.
Mark Tritton, CEO of Bed Bath and Beyond, told CNBC Tuesday that the partnership will help solidify its grip on the bed and sleep products market.
“When we did the research, we saw that consumers really loved being at home,” he said in a “Mad Money” interview. Data showed that home is “their safety net, their first love and where they felt the most comfortable, and that…


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JOHN LEWIS has apologised to a customer who claims he was sent a POO in a courier package.
Dan Rodgers, 29, received a package at his home in Workington, Cumbria from the department store on Friday evening.
He brought the bag inside after it was sent by a Hermes courier and opened it up - only to be shocked as a poo fell out.
"It's all vacuum sealed, and everything was where it should be, so I just ripped it open and I saw my T-shirt and gloves fall out of the bag and onto my bed, and then I noticed it smelled a bit weird," he told The Sun Online.
"I just thought 'what the...', it's unbelievable. I got my phone out and took a picture of it and I was like 'have you sent us a s**t?'."
Mr Rodgers said he tweeted about the unpleasant discovery and was then called by someone from John Lewis.
"I think it's f**king hilarious, I just wanted to find out what happened. They apologised, but as the conversation went on I told him 'mate, it's funny'," Mr Rodgers said.
"I ended up throwing the poo in a wheelie bin. How are you supposed to process it? Someone sent me a poo in the post... I can't find anything like it having happened anywhere."
The package was completely sealed when Mr Rodgers received it, he said, meaning there was no chance someone had tampered with it.
"I just ripped it open. I'm not in the habit of filming everything but I might be now," he said.
"It was in the grey John Lewis bag, so I figured it's got to have been whoever sealed the bag.
"I can't believe it... it's a f**king pandemic and someone's sent me a s**t."
A John Lewis spokeswoman said they had investigated Mr Rodgers' delivery but could not explain how a poo ended up in being sent to him.
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"We are utterly appalled and have apologised unreservedly to the customer," the spokeswoman said.
"Despite a thorough investigation together with our delivery company including reviewing CCTV, this is still totally inexplicable."
The Sun Online has contacted Hermes for comment.


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Corporate transactions: the impact of COVID-19 internationally
Published on 12th Mar 2020
With coronavirus now officially categorised by the World Health Organization as a pandemic, businesses will be renewing their focus on the immediate and practical steps that they need to take at an operational level.
For those engaged in a corporate transaction – perhaps an acquisition, a disposal or an investment round – there will be particular considerations. These might include questions about the impact on the market or how parties to corporate transactions approach coronavirus risks.
For those in the early stages of a deal, there is evidence that marketing is being put on hold until buyer appetite returns to more usual levels. Travel restrictions have already had an impact on marketing. Sellers at the marketing phase of a transaction often value face-to-face meetings with potential buyers to enable them to clearly communicate investment opportunities and build relationships with potential counterparties. The recently announced US travel ban on foreign nationals who have been to any of the 26 European countries in the Schengen Area in the previous 14 days (which includes France, Germany, Spain and Italy, but excludes the UK and Ireland) will no doubt have a significant impact on US and European marketing.
For transactions that are currently being negotiated, we are seeing discussions around risk allocation. These include the drafting of coronavirus specific indemnities, representations and warranties or price adjustment mechanisms such as earn outs which mean that the price paid will be adjusted if the target's profits are affected post-completion. For businesses with particular exposure to coronavirus impacts – such as travel and leisure – we have seen buyers and sellers choose to delay or defer transactions, given the present uncertainty.
We are also seeing adjustments to deal terms to protect cash flow, such as part of the consideration moving to loan notes. Additional funds are also being put in by investors for working capital post-completion.
For transactions currently between exchange and completion, parties are scrutinising termination rights (including material adverse change (MAC) clauses) to see if they may be invoked. UK-style MAC clauses are likely to exclude the impact of macroeconomic events (such as coronavirus) which affect the market generally – and we have seen coronavirus specifically excluded as a MAC event to put the matter beyond doubt – but this is a live topic of conversation in other jurisdictions such as Italy which currently has greater restrictions in place.
Restrictions on travel have also had an impact on deal processes with more meetings by video-conference or telephone and delegation powers put in place to negotiate and close deals. This is most pronounced in Italy where travel is allowed for business reasons but strongly discouraged. Physical meetings need to be specifically authorised and carried out with precautions in place.
More broadly, general economic uncertainty tends to have a chilling effect on the market. We expect transaction volumes – at least in the short term – to reduce. Equally, the difficulties of marketing may affect the deal pipeline going forward.


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It’s the last day of February, so I’m slipping in this last home sales report for last month-for Armour Hills. There are some similarities between this year’s January stats compared to last year–the one significant change was the median sales price dipped a bit from a year ago. I seriously doubt this is the start of a trend, though! Here are the numbers for Armour Hills home sales last month, one of the larger subdivisions in Brookside:
|January 2022||january 2021|
|Median list price||$450,000||$500,000|
|Median sales price||$475,000||$490,000|
|No. of homes sold||3||3|
|Days on market||2||3|
Although the median sales price was lower than a year ago, it was 5.5% over asking price. The same number of homes closed; and these homes went under contract even faster. The highest sales price last month was $420,000 and the highest was $493,000. Currently there is just one home for sale in Armour Hills, at a list price of $367,500.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)


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Ice cream maker expands New Berlin plant
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- Rich Rovito
Growing demand for ice cream ingredients, such as brownie bits and cookie dough pieces, has prompted Denali Ingredients LLC to undertake another expansion of its New Berlin operations.
Denali recently invested more than $3.5 million to buy and equip a second plant in New Berlin that is producing a new line of products, which adds cheesecake pieces and other offerings to its growing line of dairy and ice cream ingredients.
Denali purchased the 38,000-square-foot plant at 3100 S. 166th St., which had been operated by Edy’s Grand Ice Cream, late last year. Wayland, Mich.-based Denali Flavors Inc., which operates Denali Ingredients, spent a few months renovating the facility and installing equipment before recently launching production at the location.
The market for ice cream ingredients is growing in part because of increasing consumer demand for “decadent” ice cream varieties sold at grocery stores, said Neal Glaeser, Denali Ingredients president.
“It’s a whole new ingredients world for us and we’re going to have fun with it,” Glaeser said. “We identified this as an opportunity in a category where there hasn’t been a whole lot of innovation or change.”
The expansion is the second major investment for Denali in New Berlin over the past year. The company invested nearly $2 million in 2009 in its main local production plant at 2400 S. Calhoun Road, where products such as chocolate coatings, fudge sauces, powders, fruit variegates and other ingredients for the dairy, ice cream and food service industries are produced. The fudge used for the popular Moose Tracks varieties of ice cream also is made at the main facility.
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Leading automaker Nissan Motor's Magnite has over 30,000 confirmed bookings from customers across India. The sub-5-lakh SUV is orchestrating a strategic turnaround for Nissan despite the corona pandemic. This is important for an automaker that could sell only 5,448 vehicles in the first eight months of the ongoing fiscal.
According to 30,000 were the number of bookings till Thursday evening. The final tally could even be higher. A dealer said that They have over 2,000 customers waiting for the Magnite deliveries. The maximum number of bookings came in the last fortnight when Magnite was able to snatch customers off from pricier Hyundai Venue, Maruti Brezza and the Kia Sonet.
It is a great comeback for the company. A year ago, Nissan Motor, one of the leading Japanese carmakers, was on the verge of collapse in the Indian market. It was written off and was fading into oblivion.


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The Malaysia Digital Economy Corporation (MDEC) is launching the DataKITA initiative in conjunction with Malaysia Tech Month 2020 (MTM 2020) to catalyse a thriving national data ecosystem in Malaysia.
The ongoing initiative will be inaugurated with DataKITA.Pulse virtual event taking place on November 21 and 22. DataKITA.Pulse is a 25-hour non-stop virtual event that will inspire digitally powered businesses on their data transformation journey by connecting them to like-minded ecosystem stakeholders and industry thought leaders.
DataKITA is preparing Malaysia for a new world order of data, one driven by disruptive Fourth Industrial Revolution (4IR) technologies that necessitate business openness and digital evolution.
Through the initiative, MDEC will collaborate closely with enterprises and stakeholders within the nation’s data economy. They will do this to help businesses jumpstart their data transformation journey through a structured approach – leveraging data literacy, data analytics, governance, data sharing, and artificial intelligence (AI).
“Malaysia must gear up for a world beyond the new normal. To reach the next evolutionary level of our development, we must take charge of emerging 4IR technologies that will power the digital economy.
Through DataKITA, we are empowering digitally-skilled Malaysians, enabling digitally-powered businesses and driving investors in digital sectors to join this data-driven population, as we work together to realise our nation’s Shared Prosperity Vision 2030,” Rais Hussin Mohamed Ariff, Chairman of MDEC said.
The DataKITA initiative will raise the availability, accessibility, and usability of data in Malaysia’s society and economy via four strategic pillars:
1. Knowledge: Promote Data Literacy
2. Infrastructure: Foster a Data-Driven Environment
3. Talent: Facilitate Development of Data Professionals
4. Action: Accelerate business enterprises to be Data-Driven and AI Ready
By fostering holistic data transformation between the Malaysian people, businesses, and the Government, DataKITA will be the key vehicle to help Malaysia grow a data-driven digital economy to become an advanced market that sets a global example in leading the data proliferation within society and the economy.
It will also help Malaysia’s economic actors tap into the US$13 trillion revenue projected to be added by data-fuelled applications in the global economy by 2030, thereby reinforcing the nation’s position as the Heart of Digital ASEAN.
“We want organisations to recognise the importance of data transformation and to take the first crucial step to embark on the journey, such as training, using data for decision making, investing in technology or the cloud, and setting up data roles within their organisation.
This is what MDEC’s DataKITA initiative is all about and we are calling on Malaysia’s businesses and tech talent to embark on this data journey at our upcoming DataKITA.Pulse event,” Karl Ng, Director of Data Ecosystem Development at MDEC said.


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GoPro has a great iOS application; however, the digital camera company has come in with a much better offering in the shape of Apple Watch integration, making this application an even better match.
The update to the GoPro for iOS app was unveiled on Thursday and other than coming in with fixes to errors and improvements in performance, the new update also brings along, for the first time, an Apple Watch app. Essentially, the new application is a wrist-mounted remote control meant for the most important functions of GoPro.
Users of this gadget no longer have to depend on their iPhones when trying to work around the device and instead, the most basic functions such as starting and stopping a recording can be accessed right from the wrist. In addition, functions such as previewing shots as well as adding “HiLight” bookmarks will be accessible from this Watch app.
Even though GoPro has unveiled an amazing application for its huge fan base, there is still a limitation as to who can really use this new Watch app. The company says that the application will only work with cameras equipped with Wi-Fi, including the GoPro Hero 3. However, those using the Hero 2 that features Wi-Fi Bacpac and Hero 3 will not be able to take advantage of shots previewing.
Videographers are already enjoying the capabilities of GoPro for iOS app as it lets them accurately setup and record any footage, given that these cameras tend to be mounted in locations that are inaccessible and usually many don’t have viewfinders.
Now that there is a new Apple Watch app, it makes works a lot easier for these videographers as they can conveniently carry out the most essential functions right from their wrists.
There is no doubt that the GoPro iOS app is an integral part of these devices’ users. On the contrary, using a phone to record can at some point be the destruction to the action itself. With a Watch app, the whole thing feels less intrusive thanks to the fact that everything is accessible right from the wrist.
As the Apple Watch tries to find relevance all over, the introduction of a GoPro feature would certainly be a targeted move since not all users of this device will take pride in this update, but only owners of this amazing GoPro camera.


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Tell us what your intention was when you created SAFW.
I started SA Fashion Week so that we could build the fashion industry of SA into a designer-led country as opposed to mass retail. SAFW is essentially a marketing and sales, wholesale and retail platform.
How are SAFW designers adapting to the Corona pandemic?
The designer community is predominantly made of SMMEs. They all employ small contingents of artisans, such as seamstresses and pattern makers. It’s been a superhuman challenge for these businesses to stay afloat, adapt to new methods of retail and retain jobs in the absence of trade or cash flow. This new real-life and online hybrid opportunity enables the industry to do business effectively while being highly mindful of the safety aspects associated with the pandemic to showcase their collections.
How has the changing landscape impacted SAFW?
Corona had a dramatic impact on SAFW, the designers and the industry in its entirety from manufacturer to consumer, forcing SAFW to also reinvent itself and transform traditional shows resulting in the production of a virtual Fashion Week in October 2020 (and now in April 2021). The results were staggering, we had more eyeballs on the shows than ever before, a wider reach and the designers were introduced to international agents and online stores.
Has this transition impacted sponsorship?
SAFW has always aligned itself with likeminded-partners who understand our vision of creating a strong creative fashion design industry that can contribute to the GDP of the country. This year’s partners include The Mall of Africa, Satiskin, the fully sustainable Diamond Fibre Collection, and M.A.C and Carlton Hair. The scoop of the show is the talented Lukhanyo, who has been selected as a finalist for the LVMH competition.
The latest statistics indicates that the annual turnover of SA fashion designers is over R800 million. I believe, now more than ever, that big corporates will understand that they have to invest in businesses that are committed to building local industry. This is where the future lies.
What’s interesting or fresh this year?
With a staggering 244 unique never-seen-before garments, and a welcome focus on slow fashion, the designers reworked, re-used and reinvented their collections in astonishing ways.
For example, revered designer Amanda Laird Cherry created her collection from old shirts; Clive Rundle recycled his past collections, Chief of Angel’s Oscar Ncube combined natural leather and fabrics, the ever-popular Ephymol made a collection using old fabrics unearthed in his storeroom and this year’s New Talent Show brief was based on sustainability and natural fibres.
How have trends changed?
There’s no doubt the pandemic has forced consumers to reconsider how they shop and what they buy. We’re seeing a notable increase in more modest and trans-seasonal garments. Fashion trends have always been a reflection of the times we live in. And it couldn’t be truer of the collections presented by this year’s designers which show great introspection and reinvention with recycling, up-cycling and sustainability at its core. They have created collections with a story based on real-life and not trends set by profit chasers.
The Pandemic has forced all of us to re-evaluate how we do things, and how to live our lives in a more responsible manner. The online stores, boutiques and department stores need to rethink their business models, and the consumer their shopping habits eg. focusing on buying only the clothes we need and at the right price in order to reduce waste, build resources and create jobs.
What can showing at SAFW do for a designer’s career?
SAFW is the cornerstone of many successful SA designer’s careers. We spotlight the designers, taking them from showing their collections to the trade show and the pop-up shop. We provide a marketing platform connecting them to the media, buyers of boutiques and department stores, their followers and influencers.
How can a creative learn to make a career from being a designer?
The only way designers can create wealth is to sell, and to do that you need to be a designer and an entrepreneur at the same time.
Where does our industry need to go?
We need to be a designer-led industry and not a manufacturing-led one. We have to focus on building our local fashion industry and the full value chain. Why buy imported goods if you can buy from our equally talented local designers and boost the economy.
Lucilla Booyzen Director SAFW
Instagram | @Lucilla.Booyzen
Twitter | https://twitter.com/safashionweek
Words | Neil Doveton @mrdoveton www.mrdoveton.com
Image | Supplied by SA Fashion Week


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Originally posted in The Daily Star on 03 April 2022
Consumers will have to buy Liquefied Petroleum Gas (LPG) at a higher price as Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of 12 KG LPG cylinder at Tk 1,439 from the existing Tk 1,391 with effect from 6 pm today.
It means a consumer has to pay an additional Tk 48 to buy a 12kg LPG container while Tk 4 per kg for other quantities of the containers.
Most consumers use the 12kg container while 18kg, 25kg containers are also available in the market.
The new price will be effective from 6 pm today (April 3, 2022), said BERC chairman Abdul Jalil while announcing the price.
According to the new price, the autogas price has been raised to Tk 67.02 per litre from Tk 63.07.
BERC chairman Abdul Jalil attributed the global price hike of Saudi CP (contract price) due to the Russia-Ukraine war and also the increase in Taka-Dollar rate.
Now each dollar’s exchange rate is Tk85.25 which was earlier Tk85.07, he added.
Similarly, the importers have to pay higher amounts against a 7 percent VAT while the overall cost is higher than earlier, said the BERC chief.
He said the Saudi contract price (CP) has risen globally to $953– from $911.25 per metric tonne.
“It is hard to predict whether the price will go up or down in the current global situation,” he said.
According to industry insiders, the Saudi CP is normally announced at the end of every month to make it effective for the next month, and it takes at least 7-10 days for a shipment of the fuel to arrive in the country.
Most Bangladeshi private companies import their bulk LPG from the Middle East based on Saudi CP and market it locally.
BERC, for the first time, fixed the retail-level LPG prices on April 12 after holding a public hearing to comply with a High Court order.


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The Ilitch family signed on for some Cuban flair at the planned promenade and entertainment block between the new Little Caesars world headquarters and the Fox Theatre, Olympia Development said in a news release Thursday.
Casual eatery and bar Frita Batidos is the first announced tenant of the Columbia Street development, which Olympia says will include 10 new storefronts and 43,000 square feet of restaurant and retail space.
In conjunction with the new $150 million pizza headquarters, the street will be an extension of The District Detroit, an entertainment district anchored by the new Little Caesars Arena.
Frita Batidos will open in 2,400 square feet of space in the Fox Theatre building on Columbia Street, where it will serve its popular Fritas — Cuban burgers made from spicy chorizo and served on a soft egg bun — and Batidos – tropical milkshakes with fresh fruit and ice cream. It will also serve alcoholic drinks, such as mojitos and margaritas. The Fritas also come in beef, chicken, fish and vegetarian black bean options; the menu also will include salads, pressed sandwiches and churros, as well as alcoholic drinks, such as mojitos and margaritas.
It will be the restaurant's second location, with its original outpost in downtown Ann Arbor since 2010.
Owner Eve Aronoff said to Crain's in an email that she plans to invest $750,000 into the new location. The lease, which was signed in December, is for five years, with a five-year renewal option.
"I've been exploring Detroit locations for a long while and there is no better fit than The District Detroit — it offers the opportunity for us to be in the heart of downtown with all of the vibrancy and cultural diversity that brings as well as being in the very center of the sports and entertainment district," Aronoff said in a written statement through Olympia's news release.
Aronoff said in the email that investment in the Detroit restaurant will be significantly higher than previous projects.
"This is the first time we are building out a complete kitchen to suit our needs," she said.
In addition, the new location will feature concepts different than the original, including more seasonal offerings, sweets to snack on in line, a make-it-yourself sandwich bar, an express menu for game days and collaborations with local restaurants and farmers.
While the eatery won't open until the spring, Frita fare will be available in downtown Detroit as soon as early January. To drum up business, Aronoff is planning to open an Airstream "food truck" on Woodward Avenue in front of her soon-to-be brick-and-mortar. Details on that are still being worked out.
Construction is expected to start soon but is contingent on when Olympia plans to reopen Columbia Street, Aronoff said, adding that she expects the restaurant to open in April or May. Olympia spokesman Ed Saenz said Columbia Street will reopen once construction on the new headquarters is complete in the first half of next year. Other tenants for the block have not been announced.
Detroit-based PUSH Design LLC, which did design for the new Founders Brewing Co. Detroit, has been tapped for the restaurant.
Aronoff plans to hire around 40 people for the new restaurant. Those interested in a job can email [email protected].


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Fire can start in the dryer vent and spread to destroyed an entire house. Fire officials say lint can build up in the dryer's ducts and catch fire. To prevent this from happening in your home, it's essential to clean the lint from your dryer's ducts and lint trap.
The Lint Lizard attaches to your vacuum cleaner. You thread the tube through the opening of a dryer's lint trap.
"The Lint Lizard worked really well," said Consumer Reports tester Bernie Deitrick. "It removed more lint than any other technique that we tried."
But one drawback: the Lint Lizard may not fit easily into very narrow dryer openings. And its sharp tip could damage flexible foil or plastic ductwork. However, Consumer Reports doesn't recommend those kinds of ducts anyway.
"It can sag, collect lint and cause problems with venting your dryer," said Deitrick.
Consumer Reports says metal ducts are far better, either flexible or solid. You want to clean those at least once a year. And clean your lint trap every time you use the dryer. Taking these precautions can help prevent a tragedy.