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Forget Tesla. That’s perhaps not the official tagline for Renovo Motors and its striking new electric coupe, but it’s not hard to see the retro racer as a push back against Elon Musk’s polished bid to take EVs mainstream. Unveiled at the 2014 Pebble Beach Concours d’Elegance, the Renovo Coupe makes some big claims, too, like 0-60 mph in under 3.4 seconds.
That would make it the fastest time of any production rear-wheel drive EV, Renovo points out, but it’s arguably not the most interesting aspect of the new car. That honor goes to its 1,000 ft-lbs of torque which, as is the nature of electric drivetrains, is on tap from as soon as your foot brushes the accelerator.
The two sequential axial flux motors are good for in excess of 500 HP, Renovo Motors claims, and even the recharging time is relatively swift. Renovo says the Coupe will be back up and running in 30 minutes from a fast-charge system, or alternatively takes five hours from a regular Level 2 charger.
That’s important, as to help keep the curb weight down – to 3,250 pounds – Renovo has opted to fit enough batteries for around 100 miles of range. Top speed is around 120 mph.
There’s a single-gear, direct drive transmission, 4-wheel independent suspension, and electric power steering with a quick-ratio rack. The Wheels are custom-billet 3-pieces, paired with 6-piston monobloc calipers with 14-inch cross-drilled rotors up front, and 4-piston monobloc calipers on the back with 13.4-inch cross-drilled rotors.
If the design looks familiar, you shouldn’t be surprised. Renovo uses a genuine, factory-modified Shelby American CSX9000 chassis, though the body, frame, suspension, and cabin are all redesigned for this 21st century interpretation.
Inside, there’ll be a mixture of classic needle gages around a circular digital display, and a “muscular drive selector” that will allow for real-time adjustment of brake regeneration.
Renovo Motors isn’t saying how much the Renovo Coupe will cost, though it’ll start taking preorders for the “limited series production” this weekend. Production is expected to kick off next year, initially targeting EV-loving California, and then spreading to the rest of the US.
SOURCE Renovo Motors


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Walmart Accused Of Using Child Labor At Shrimp Plant
Do you know where that shrimp you ate for dinner came from?
Since the U.S. imports over 90 percent of its shrimp, the chances are that your dinner came from a South Asian country like Thailand, Indonesia or China.
Maybe you already know that imported shrimp is on the Monterey Bay’s Seafood Watch List to “Avoid” at all costs. That’s because less than two percent of all imported seafood is inspected, which means that imported shrimp often contains antibiotics, cleaning chemicals used in farmed shrimp pens, residues of toxic pesticides banned in the U.S., and pieces of insects. Sounds tasty, right?
Now a new report alleges that not only is this shrimp toxic, but it is also farmed and processed under shocking conditions.
The briefing paper, by Warehouse Workers United (WWU) and the International Labor Rights Forum (LRF), alleges serious violations of human rights including illegal use of unpaid and underage workers, at the Thai shrimp producer Narong Seafood, at least until recently a major supplier of Walmart and a leading shrimp processor for the US market.
For the study, called “The Walmart Effect: Child and Worker Rights Violations at Narong Seafood,” the two groups commissioned Thai-based researchers to interview Narong workers.
According to Mother Jones:
They discovered that factory inspections by international buyers, auditors, and Thai Labor Ministry officials were always announced in advance and cursory; that underage employees were forced to work the night shift in order to avoid these inspections; that wages were illegally slashed after a slowdown; and that undocumented foreign workers were charged exorbitant fees for work papers.
In addition, interviewees reported that around 20 underage workers were employed at the factory until the factory began to experience a slowdown in production due to diseased shrimp. It appears that most of these underage employees worked the night shift along with 100 to 200 undocumented migrant workers. It also emerged that during audits managers instructed underage workers not to come to work.
Narong of course denies all of these allegations.
Walmart, incidentally the largest retailer of shrimp in the U.S., also insists that it stopped buying from Narong in 2012, but Tom Philpott, writing in Mother Jones, found evidence that the company seems to have imported 36,000 pounds of Narong shrimp as recently as March, 2013.
So who is telling the truth?
As the third largest public corporation and mega retail chain in the world, Walmart has been in the news recently, and not in a good way. After the horrific building collapse at the Rana Factory in Bangladesh last month, when at least 1,100 garment workers died, the company refused to sign an agreement with other retail chains to improve safety and working conditions for factory workers overseas.
Their statement read:
The company, like a number of other retailers, is not in a position to sign the IndustriALL accord at this time.
While we agree with much of the proposal, the IndustriALL plan also introduces requirements, including governance and dispute resolution mechanisms, on supply chain matters that are appropriately left to retailers, suppliers and government, and are unnecessary to achieve fire and safety goals.
Not in a position to sign? Unnecessary to achieve fire and safety goals? How much did they pay a lawyer to write this? Is making a profit their only motive?
The briefing paper on the Thai shrimp industry calls on Walmart to begin working with labor and human rights activists in Thailand to ensure the rights of migrant workers who produce shrimp for Walmart are respected.
What are the chances the company will listen and act this time? It’s not looking good: so far, their only response has been to deny that they even do business with Narong.
Meanwhile, for those of us who love our shrimp, the picture is bleak. Domestic shrimp would be the answer, except that 70 percent of domestic shrimp comes from the Gulf of Mexico, and the recent oil spill has made us all wary of eating that. That leaves shrimp from Texas, the East Coast, and the Carolinas, if you can find it.
What do you think? Would you buy shrimp from Walmart?
Photo Credit: thinkstock

domain: news


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Cool nudists quit their camps for cruises Alaska next stop
Looking for a holiday guaranteed to give you goose bumps? Travel companies are reporting a surge in nudist cruises, including a trip to the freezing climes of Glacier Bay, Alaska.
While the typical image of a holiday for a British naturist involves caravans, curled sandwiches and windswept beaches, the movement is going upmarket. Travel companies report that the number of holidaymakers going on naturist cruises has doubled in the past five years.
Those wishing to slip off their clothes while on holiday can choose a 15-day cruise along the dramatic Croatian coast, which has a choice of nudist beaches.
Alternatively, they can head to the Far East on the Star Flyer or to the Caribbean aboard the Carnival Legend.
As the brochure for Bare Necessities,


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Nike passes Adidas in Europe: report
Nike is now the No. 1 athletic footwear and apparel company in Europe, the backyard of rival Adidas, according to a new report by Citi Research. If true, the report is a watershed moment and cements Nike's place as the No. 1 sporting goods company in the world.
The report is based on a survey of 185 European retailers. Of those, 56 percent said Nike is picking up market share in Europe. It's also picking up sales at the expense of Adidas, according to 34 percent of retailers surveyed.
Europe was the lone major geography where Adidas still had an edge over Nike.
Adidas isn't standing still. In October it announced a shakeup of its European operations, combining several arms within the region under a new Western Europe division. It also rolled out ambitious sales goals, similar to Nike.
Nike has yet to publicly report European sales ahead of Adidas, although the gap has narrowed in recent quarters as Nike sales picked up and Adidas sales declined.
In 2013, Adidas reported $5.3 billion in European sales. Nike operates on a fiscal year that ends on May 31. In the four fiscal quarters that spanned Dec. 1, 2012 through Nov. 30, 2013 it reported $4.4 billion in European sales.
Nike will report its most recent quarterly earnings, including European sales, next Thursday.
Matthew Kish covers footwear, apparel, banking, finance and general assignment news.
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Apple is a worldwide brand that unquestionably relied a lot on marketing and greatly succeeded in it. The results demonstrated themselves. This year, according to Fortune, Apple took the first spot for the 12th consecutive year of the world’s admired company. That is to say, brand’s consumers are looking for Apple’s goods not only for their intrinsic characteristics, but also, and perhaps most of all because of the brand image. Therefore, Apple obviously try to protect all around the world everything that conveys this brand image, in particular its miscellaneous trademarks.
However, in November 2018, The Russian Federal Service for Intellectual Property, commonly known as Rospatent, refused to grant the registration of its square frame trademark “AR”, which stands for augmented reality.
Rospatent explained in greater detail that the refusal was due to the fact that a trademark “AR” has already been registered in 2013 before being once again registered in 2016, but this time with a square frame form. Unlike in the Apple’s version, “AR” stands in this version for “Airports of Regions”, owned by a Russian company with 4 airports and building 3 more and held by JSC Management company. Also, another sign used in Apple’s trademark belongs to a Belgian developer involved as well in the augmented reality’s sector. On top of that, both of these trademarks were registered in the same "software" category.
The American company appealed the decision before the Chamber of patent disputes, that was rejected as well, the applicant’s claims.
Before both jurisdictions, Apple did not even try to contest the similarity of the aforementioned trademarks but rather the opposite. Apple offered both instances to recognize that all registered marks with the AR element should cease to be protected by law. Indeed, Apple argued that the term “AR” should not be registerable by anyone as it is a common term already used by a lot of companies. Apple also explained that its trademark, although similar to the other ones, is deemed to be used with different types of goods and services. Ultimately, it appears these arguments did not convince the court.


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Project Launch: Blockchain For Social Good Project Starts in Zambia
The Youth Empowerment Pilot Project Kicks-off
LUSAKA - 15/06/2022. United Africa Blockchain Association (UABA) Youth Empowerment Project Pilot dubbed ‘Blockchain for Social Good Project’ took off to a flying start on 14 June 2022.
This comes on the back of getting an official thumbs up from the Zambian Ministry of Science and Technology (MOTS) on 17 May 2022. In an official letter to UABA from Permanent Secretary Brilliant Habeenzu at MOTS, expressed support of the feasibility of using blockchain as one of the innovative ways for empowering underprivileged communities and the youth in particular.
UABA together with partners Near Blockchain Foundation, Sankore 2.0, Probase, and MOTS intend to demonstrate how blockchain can be used for social good firstly by educating Zambian youth on blockchain, cryptocurrencies and how they can benefit from the blockchain ecosystem. Secondly, by preparing and equipping the Zambian youth for blockchain based employment opportunities.
And thirdly, by creating sustainable local communities through incentive based crypto opportunities that will enable communities to earn and spend cryptocurrencies for basic human needs, as well as test the feasibility of implementing Blockchain in the Zambia Public sector.
It is the last component of the project that will demonstrate the blockchain payment system used to disbursing the basic needs incentive. The crypto incentive will be distributed through participating Tuck shop owners in the areas earmarked for the pilot. The participants who receive the cryptocurrency incentive can then exchange it for goods exclusive to incentive packages at participating tuck shops.
Near Blockchain will be the blockchain platform facilitating the payments for the crypto based incentive during the course of the project. While Sankore 2.0 will be offering technical support regarding payments solutions.
The pilot project will target people between the age 18 and 35 years, comprising under-privileged women run households, unemployed youth, secondary school leavers, youth affected by substance abuse, and small scale traders known locally as ‘Tuntemba’ (Tuck shops).
The areas earmarked for the project are in Lusaka, the capital of Zambia, Kalingalinga, Chainda, and Mutendere. And the town of Mufulira on the Copperbelt.
The UABA is urging residents to come and participate in the project. They will require on the bare minimum to have a smartphone and be available for the training sessions. Anyone in the mentioned areas interested in participating can register on using this:


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If you’re reading this, I bet you have a favorite herbal remedy. Mine is peppermint oil for stomachaches. Seems to work for me, and there’s a strong body of clinical evidence to support the idea. But in the regulatory Wild West of dietary and herbal supplements, how can you be sure that what you’re buying works the way it is supposed to, contains what the label describes, and most importantly, won’t hurt you? Answer: Increasingly, you can’t.
Big Herba is big business, and when profit is the motive, let the buyer beware.
We often hear about the evils of Big Pharma, and there’s plenty to be concerned about there. But some who promote “alternatives” — the manufacturers, distributors and sellers of supplements, aka Big Herba —take advantage of regulatory loopholes, public distrust of the medical realm, and consumer confusion to push pills and potions that may do absolutely nothing for your health, or worse.
Last week, the New York attorney general's office told GNC, Target, Walgreens and Walmart to pull several store-brand supplements when most of them were found to contain things other than what their labels advertised, including allergens like wheat that are potentially dangerous to some consumers. At all the stores investigated, the St. John’s Wort contained absolutely no St. John’s Wort. Likewise, the Gingko Biloba had no Gingko Biloba. Instead, many of the products contained nothing but cheap fillers, including a common houseplant called dracaena.
But that’s just the latest. Reports of misleading and potentially harmful supplements have been piling up for years. In 2012, the Office of the Inspector General of the U.S. Department of Health and Human Services released a report showing that 20 percent of supplements sold for weight loss and immune system support they bought made illegal claims about their effectiveness in treating and cure ailments. “Sampled supplements,” says the report, “were inconsistent with FDA guidance on competent and reliable scientific evidence.”
In 2013, the New York Times published an article describing numerous problems with common products. Research conducted in Canada on popular supplements like echinacea and St. John’s Wort sold by 12 different companies found that many consumers were getting completely swindled. According to the report:
Americans spend an estimated $5 billion a year on unproven herbal supplements that promise everything from fighting off colds to curbing hot flashes and boosting memory. But now there is a new reason for supplement buyers to beware: DNA tests show that many pills labeled as healing herbs are little more than powdered rice and weeds.
The same year, Harvard researchers found that between 2004 and 2012, there were 237 “Class I recalls” of dietary supplements. That means for each product, there was a “reasonable probability that the use of or exposure to a product will cause serious adverse health consequences or death.” Dietary supplements —which include vitamins, minerals, botanicals, and herbal remedies — accounted for half of such recalls during those years.
The NYT has further noted that there have been documented cases of disease outbreaks due to supplements, such as a 2013 outbreak of hepatitis that struck at least 72 people in 16 states and was traced to a tainted supplement. Three people required liver transplants, and one woman died. It also described hospitals facing supplement problems, such as a recent case of an infant at a Connecticut hospital dying when doctors gave the child a popular probiotic supplement that turned out to be contaminated with yeast.
Consumer Reports reveals that of 54,000 supplements listed in the Natural Medicines Comprehensive Database, only a third have any scientifically supported level of safety and efficacy. Twelve percent are linked to safety concerns or quality issues. The report calls attention to health risks including cardiovascular, liver and kidney problems; contamination with nasty things like heavy metals due to poor quality control and inspection; and raw ingredients sourced in China, where factories are riddled by lax standards.
Now, plenty of people read statistics like this and say, “It’s all a war waged by Big Pharma to take away my 'health freedom.'” But increasingly, Big Pharma and Big Herba are indistinguishable. The very same mega-companies with gigantic chemical labs that make drugs are cooking up vitamin and herbal supplements labeled with sunny terms like “natural” and “wholesome.” Pfizer, Unilever, Novartis, GlaxoSmithKline and other big pharmaceutical firms make or sell supplements. Procter & Gamble Co. and Arm & Hammer are also in on the action. Wall Street is getting in on the game, too: the Carlyle Group, a private-equity titan, owns NBTY (formerly Nature's Bounty), whose brands include Nature's Bounty, Sundown Naturals, Puritan's Pride, and Vitamin World.
So many people worried about having to spend money at the doctor. So much money to be made!
When they make supplements, companies don’t have to play by the same rules as when they make drugs. The FDA was launched in 1906 to regulate food and drugs because of the proliferation of snake oil salesmen and other hucksters who went door to door selling products claiming to promote health but containing all manner of surprising secret ingredients, like grain alcohol. But in 1994, partly because of the strong financial ties between the supplement industry and lawmakers (I’m looking at you, Sen. Orrin Hatch), the controversial Dietary Supplement Health and Education Act (DSHEA) was passed which allowed dietary supplements to operate with little regulation. The supplement industry, as a result, does not have to do thorough trials for safety and efficacy. And they don’t necessarily have to alert consumers about harmful side-effects.
Even when a supplement is clearly shown to be harmful, it’s difficult for the FDA to step in and ban it. Just take the case of ephedra, which people used to take for weight loss and to boost energy. Despite mounting evidence of dangerous effects, in some cases fatal, manufacturers challenged a 2004 FDA ban and got it overturned. It took the U.S. Court of Appeals to restore the ban in 2006.
True, there are still some small firms that concentrate on just a few products, and many of them want to sell products that are properly labeled and beneficial. But the smaller guys represent just a small fraction of total sales in what has become a $23-billion-a-year business. And unfortunately, it’s not easy to tell where to turn. Alternative health guru Gary Null, who has his own product line, is known for talking up supplements as the answer to Big Pharma— and yet he managed to poison himself with his own products. Not exactly reassuring.
A 2013 report in USA Today described supplements containing dangerous drugs hawked on the Internet by people who turned out to have criminal backgrounds that would make a mobster blush:
“A USA Today investigation finds that a wide array of dietary supplement companies caught with drug-spiked products are run by people with criminal backgrounds and regulatory run-ins. Consumers buying products from these firms are in some cases entrusting their health and safety to people with rap sheets for crimes involving barbiturates, crack cocaine, Ecstasy and other narcotics, as well as arrests for selling or possessing steroids and human growth hormone. Other supplement company executives have records of fraud, theft, assault, weapons offenses, money laundering or other offenses, the investigation shows."
It seems pretty clear at this point that the FDA needs broadened authority and appropriate levels of funding and staff to be sure that supplement sellers are held responsible for what’s in their products.
People like to talk about "health freedom," but in addition to choice, that also means the freedom to walk into a store and feel confident that you are not buying a fraudulent and dangerous product. Do you really want to be a guinea pig for Big Herba?


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Ubuntu is now on the Windows 10 app store. Following SUSE Linux, Ubuntu is making its way to the Windows Store. Windows Insiders running Windows 10 Insider Preview build 16190 or newer can install Ubuntu from the Windows Store on their Windows 10 PC today.
Enable-WindowsOptionalFeature -Online -FeatureName Microsoft-Windows-Subsystem-LinuxAfter
Users will be able to run Linux and Windows apps on their PC without needing to dual-boot both. While Release Preview users can’t take full advantage of the Ubuntu app until the Windows 10 Fall Creators Update coming later in the year, those in the Windows Insider program should be able to play with it at full capacity.
Here are some of the benefits of downloading Ubuntu from the Windows Store:
- Faster & more reliable downloads: The Windows Store employs a sophisticated block-based download mechanism that minimizes the size of apps being downloaded, resulting in faster and more reliable downloads
- Install distros side-by-side: WSL has been enhanced to support the installation of multiple distro’s alongside one another
- Run multiple distro’s simultaneously: Not only can you install distro’s side-by-side, but you can now run more than one distro simultaneously


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GMO Planning ICO
Japanese conglomerate GMO Internet announced on Wednesday that its bitcoin mining business will launch an initial coin offering (ICO) next year. The purpose of the token sale is “to sell next-generation mining boards,” the company wrote, stating that:
We will issue tokens as a method to buy next-generation mining boards.
Japan currently has no specific law for regulating ICOs. However, some existing laws may apply to token sales. For example, some of them may be classified as sales of securities and subject to the current securities laws…


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Fenland takeaway owner sells up to look after children
PUBLISHED: 10:11 15 July 2011 | UPDATED: 10:51 15 July 2011
THE owner of a Fenland takeaway will serve her last customers tomorrow after selling her business of nine years.
Claire Rose started Big Al’s Plaice with her father Alan when they moved to Doddington in 2002 after Mr Rose’s wife died suddenly.
The pair used to run a cafe underneath Hunstanton pier but Ms Rose has called time on serving fish and chips to spend the summer with her children, two years after her dad left to work on his Doddington farm.
She said: “I would like to say a big thank you to my customers for the support. It was a big decision to close but I just want to spend some more time at home before choosing what to do next.”
Jo Gregory, Big Al’s manager, will also be spending the summer with her children. She said: “It’s been great working for Claire over the years and it will be good for her to take a break from running this place 24 hours of every day.
“It came as a shock when she told us that Big Al’s was going to be sold, but after myself and the other two staff members heard Claire’s reasons we understood why she wanted to close.”
Ms Rose said: “I’m leaving the place in good hands and I wish the new owners all the best for the future.”
A few teenagers who turned up as the pair opened said they couldn’t sell the business as it wouldn’t be the same again.
If you value what this story gives you, please consider supporting the Cambs Times. Click the link in the orange box above for details.


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Shoppers are holding out for more deals, and increasingly using mobile to research and make purchases.
Adidas unveils the official ball of the 2014 World Cup, with an energetic film and a campaign that promises free balls to newborn babies.
Cars and trucks rolled off dealership lots in November at the fastest pace in almost seven years, Automotive News reports today.
Booze brand joins other movie tie-ins, from underwear to ice cream.
Jim Carter, Carson from 'Downtown Abbey,' delivers grim Christmas tidings from a melting Arctic.
"If the payment terms they are suggesting to their suppliers would not be acceptable to them as suppliers, a re-think might be in order."
The next chapter in the cola-marketing wars could be influenced as much by science labs as TV commercials.
Boston Consulting Group is entering the brand health metrics fray with the Brand Advocacy Index, its take on the Net Promoter Score.
While Publicis' recent investments are regional and small relative to its purchases over the last two years, the timing raises questions.
Burger King just released its latest menu item: Big King, made of two beef patties, special sauce, lettuce, cheese, pickles and onions on a sesame-seed bun. Sound familiar?
Forget the most wonderful time of the year. For Mattel and Hasbro, it's the most stressful.
Ex-Giant is rebranding Thuzio, which connects businesses with retired pro athletes.
Introducing ridiculously great sale pricing on Ad Age print/digital/online.
Handing out your mortal rival's product for free may sound like marketing suicide -- but Burger King did just that in Norway.
Peanut butter has a day. So do donuts. So why shouldn't 2013's most-hyped technology also get one?
Coinciding with the 50th anniversary of JFK's assassination, a campaign promoting the upcoming "X-Men" movie reveals a new conspiracy theory.
As millions plan to spend Black Friday searching for deals, Patagonia invites you to celebrate clothing that you already own.
Iconoclast director Matthew Frost has a flair for meshing style and humor, as seen in this short film featuring magazine's December cover girl.
Too busy to keep up, even on Twitter? "The Latest" will keep you up to date on the most interesting happenings on the platform.
Consumer-goods giant Unilever has launched Project Sunlight, an initiative to motivate people to adopt more sustainable lifestyles.
Gum brand Beldent wanted to show that contrary to what your parents always told you, chewing gum actually makes you look good.
It's always seemed more a question of when, rather than if, Doug McMillon would become Wal-Mart Stores CEO. Here's why.
Kenny Mitchell is the managing director-brand and consumer marketing for Nascar and Dan Lagani has been named chief revenue officer of Glam Media.
Wayne Silverman is the chief revenue officer of Time Out North America. Also, Penny Veneziano is 140 Proof's first VP-sales.
Lee Garfinkel has been named DraftFCB's New York CEO.
Former Wieden & Kennedy creative execs Scott Vitrone and Ian Reinchental are reuniting with Gerry Graf.
Google opens six locations around the country to get some street exposure for the Nexus 7, Chromebook and Chromecast.
The ad-tech company is doubling its staff focused on mobile advertising.
Zappos this morning turned an airport baggage claim into a Wheel of Fortune-style game, with prizes determined by where bags land.Full Article
One ad says you should celebrate Repeal Day because "without it, you'd be drinking swill." Prohibition was repealed 80 years ago on Dec. 5.Full Article
Are hamburger buns the new fast-food battlefield?Full Article
Headphones are heroes as athlete seeks refuge from abuse and distractions.Full Article


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A privacy watchdog said Monday it is taking Facebook to court in Belgium for tracking Internet users, including those who are not members of the US social media network.
Facebook on Monday unveiled a new feature that allows smartphone users to privately share photos of friends, by sifting through images with facial recognition technology.
The Pope is on Twitter, along with the Dalai Lama, world leaders and, of course, Kim Kardashian.
Facebook crowed that an Android version of its Messenger app has been downloaded more than a billion times from the Google Play store.
A lot of users are using outdated mobile devices that fail to reach adequate speeds on mobile networks. This is shown by measurements shared by the users of Netradar, a free mobile application that measures mobile connections ...
Researchers of the Technische Universität Darmstadt and Fraunhofer SIT have investigated Cloud databases and established: developers wrongly use authentications for cloud services thereby threatening millions of user accounts ...
Microsoft's Cortana virtual assistant will be released later this year for users of Google and Apple smartphones.
The designer behind Apple's world-changing devices is rising to a new role that frees him to put his creative vision to work across the breadth of the company.
A data breach at a website billed as "the world's largest sex and swinger" community may expose personal and sexual information on millions of users worldwide, a report said Friday.
When it comes to keeping online information safe from hackers and other criminals, it's up to the individual user to keep his or her data secure.


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MONECO Advisors LLC cut its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,759 shares of the company’s stock after selling 193 shares during the quarter. MONECO Advisors LLC’s holdings in Mondelez International were worth $484,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Keel Point LLC acquired a new position in shares of Mondelez International in the 2nd quarter valued at approximately $232,000. Clean Yield Group acquired a new position in Mondelez International during the 2nd quarter worth approximately $25,000. Sound Income Strategies LLC increased its position in Mondelez International by 606.8% during the 2nd quarter. Sound Income Strategies LLC now owns 417 shares of the company’s stock worth $26,000 after purchasing an additional 358 shares in the last quarter. Newton One Investments LLC acquired a new position in Mondelez International during the 2nd quarter worth approximately $29,000. Finally, Tradewinds Capital Management LLC increased its position in Mondelez International by 579.7% during the 2nd quarter. Tradewinds Capital Management LLC now owns 469 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Mondelez International from a “conviction-buy” rating to a “buy” rating in a research report on Friday, July 30th. Piper Sandler upped their price objective on shares of Mondelez International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $71.00 target price on shares of Mondelez International in a report on Friday, August 6th. Finally, Guggenheim boosted their target price on shares of Mondelez International from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $67.08.
Mondelez International (NASDAQ:MDLZ) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Mondelez International had a net margin of 15.49% and a return on equity of 14.30%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.41 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that Mondelez International, Inc. will post 2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This is a positive change from Mondelez International’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.32%. Mondelez International’s dividend payout ratio is currently 48.65%.
In other Mondelez International news, Director Peter W. May sold 79,346 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $62.06, for a total transaction of $4,924,212.76. Following the transaction, the director now owns 16,062 shares in the company, valued at $996,807.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter W. May sold 399,654 shares of the company’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $61.99, for a total transaction of $24,774,551.46. Following the transaction, the director now owns 16,062 shares in the company, valued at approximately $995,683.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 640,316 shares of company stock worth $39,732,619. 0.90% of the stock is owned by insiders.
Mondelez International Profile
Mondelez International, Inc engages in the manufacture and marketing of snack food and beverage products. It operates through the following geographical segments: Latin America; Asia, Middle East, and Africa; Europe; and North America. Its products include beverages, biscuits, chocolate, gum & candy, cheese & grocery and meals.
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Nigeria: inflation hits 19.64%, highest in 17yrs
The National Bureau of Statistics says Nigeria’s headline Inflation Rate is now 19.64 percent, the highest recorded since the year 2005. Statistician-General of the Federation, Prince Semiu Adeniran stated this in the Consumer Price Index report for the month of July 2022 released by NBS in Abuja.
The Consumer Price Index – a measurement of the rate of change in prices of goods and services consumed by people for day-to-day living increased from 18.60% recorded last month to currently stand at 19.64%. The rate is the highest recorded since September 2005. The figure is also 2.27 percent higher compared to 17.38 percent recorded in July 2021.
What other increases were recorded in the report?
According to the CPI report, there were increases in all classifications of individual consumption according to purpose division that yielded the headline index.
“On a month-on-month basis, the headline inflation rate in July 2022 was 1.817% which was 0.001 higher than the rate recorded in June 2022(1.816). The percentage change in the average CPI for the twelve months period ending July 2022 over the average of the CPI for the previous twelve months period was 16.75, showing a 0.46% increase compared to 16.30% recorded in July 2021” the report reads in part.
The report also added that food inflation rose to 22.02% in July, a slight increase compared to 20.60 recorded in June, blaming it on the continuous increase in the prices of bread, cereals, food products, potatoes, yam, meat, fish, oil and fat.
How did each state perform?
An analysis of the price movement showed that Akwa-Ibom (22.88%), Ebonyi (22.51%) and Kogi (22.08%) states witnessed the highest prices, while Jigawa (16.62%), Kano (17.04%), and Borno (18.04%) recorded the lowest rise in inflation.
Why you should be bothered
The ongoing Russia-Ukraine war is shrinking the global economy resulting in rising in the cost of food and energy. Families in low-income countries are the most affected as some are already spending a large chunk of their household income on food. According to World Bank, the implication is that inflation would likely push more people into poverty by the end of the year 2022. World Bank estimates about one million Nigerians experience this.


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Starbucks is pulling the plug on another of its secondary restaurant concepts, this time the Evolution Fresh cold-pressed juice chain.
The coffee giant intends to shut the two remaining Evolution Fresh retail outlets next month. The shops feature cold-pressed juices, salad bowls and sandwiches.
Bottled Evolution Fresh-brand juices will continue to be sold inside Starbucks cafes and supermarkets.
Starbucks bought the Evolution Fresh brand in 2011 for a reported $30 million. It opened four retail outlets under the Evolution Fresh name, but has more recently pared back the operation.
The about-face is the latest instance of the coffee giant backing away from secondary ventures to focus on its core business. Most recently, it backed away from a diversification into tea shops through its Teavana brand. Teavana Fine Teas + Tea Bars are being recast as Starbucks cafes.
In 2015, it decided to exit its La Boulange bakery business after the chain had grown to 23 branches.
Last summer, the coffee giant announced it was investing in a five-unit European bakery chain called Princi. The plan revealed at that time was to feature the Italian concept’s baked goods in Starbucks’ new high-end concept, Starbucks Roastery.
It also indicated that it will assist in the development of Princi-brand outlets worldwide.
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Liability linkage provision in GST to hit small traders
A provision in the model goods and services tax (GST) law to ensure the smooth flow of credit and minimise tax evasion could hit small businesses and suppliers by favouring bigger and financially stronger ones. The 'liability linkage provision' allows the buyer credit for tax paid on inputs used only if the supplier has paid the tax within a given window. The provision, to be discussed at the meeting of the GST Council on March 4-5, calls for reversal of credit to the buyer in case of noncompliance by the vendor. That is, a buyer would be penalised for the supplier's non-compliance. "This seems unfair as it penalises the buyer for someone else's fault," said Pratik Jain, indirect tax leader, PwC. "It could lead to preference in terms of dealing with bigger vendors which could hit the SME (small and medium enterprises) sector hard." The provision has its roots in the concept of vendor matching that was introduced to ensure that the government has an audit trail to see if every sale has a corresponding purchase. In case of any mismatch, tax officials will proceed against the concerned vendor. Tally Solutions managing director Bharat Goenka said SMEs sometimes face payment cycle issues and will be penalised for delayed payments. He suggested that the valid return of a supplier should be made the basis for input credit instead of linking validity to payment of liability. "This simple change will anyway unlock the businesses, improve compliance, and dramatically reduce fraud due to the triangulated nature of GST," Goenka said. The government wants to roll out GST from July 1. The relevant laws need to be approved by the GST Council and passed by parliament to ensure the legal process is complete by then. The GST Council will try and clear all the legislation during its two-day meeting on March 4-5.


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In the latest move, the telco has reduced validity for its Rs 309/509 packages from 84 days to 56
As Reliance Jio's promotional offer 'Dhan Dhana Dhan' ended on July 9, it announced new tariff plans with a reduced validity.
This comes as a breather to the telecom industry considering the discounts from the latest entrant earlier.
In the latest move, the validity has been reduced for its Rs 309/509 packages from 84 days to 56 days, while still limiting the internet data usage to 1 GB/day.
The Mukesh Ambani-owned firm has also announced two new tariff plans: Rs 349 for 56 days with 20 GB of total data usage and Rs 399 for 84 days with 84 GB of total data usage.
The company's 'Dhan Dhana Dhan' offer was launched on April 11, which ended on July 9 after the 90-day promotional period.
"We consider the move to be directionally positive for Bharti (Airtel) and India telcos sector as Jio is reducing its discounts/raising implied tariffs.
We consider this announcement to be largely in-line with market expectations and should help Bharti to get back traffic as discounts are reduced and implied tariffs are raised," Bank of America Merill Lynch (BoAML) said in a report.
Kotak Securities said the average revenue per user (ARPU) range of its plans now stands at Rs 122-661 versus Rs 97-630 earlier.
"The move is largely on expected lines. While Jio has not raised pricing to the base plan levels and continues to run an extra validity and/or extra data allowance promotional across most of its plans, we believe this is a positive move directionally.
It provides some breather (not relief) to the industry that has been reeling under the Jio promotion onslaught.
This move should provide the industry [with] an opportunity to stem the free fall in ARPU levels seen in the past three-quarters," Kotak said.
The impact of Jio's feature phone disruption, however, needs to be watched for.
"We consider feature phone launch by Jio (remains to be seen if it is announced at RIL AGM (annual general meeting) on July 21) to be the next catalyst for the sector as it would increase competitive intensity in the market," BoAML said.
Photograph: Shailesh Andrade/Reuters


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Kia has made a lot of effort to set the new Sedona apart, with a completely fresh, and SUV-inspired, design that’s aimed at removing the “minivan” stigma.
SEOUL – Kia has released more details on its upcoming Carnival MPV (otherwise known as the Sedona), including information on the new engine line-up.
The newcomer is expected to reach South African shores during the course of 2021, wearing a Sedona badge of course, and Kia has made a lot of effort to set the new model apart, with a completely fresh (and SUV-inspired) design that’s aimed at removing the ‘minivan’ stigma. This is still a proper people-hauler though, offering seating for between seven and 11 occupants, depending on whether the buyer has chosen a three-row or four-row seating layout.
New 2.2-litre turbodiesel
Despite the engine downsizing trend, Kia is still planning to offer a V6 petrol engine option in some markets, this taking the form of a 3.5-litre direct injection unit that produces 216kW and 355Nm.
However, a far more likely candidate for the South African market is the new 2.2-litre ‘Smartstream’ turbodiesel unit, which produces 148kW and 440Nm. Although it has only gained 1kW over its predecessor, the new engine is lighter, thanks to a new aluminium block, while a range of measures have helped improve efficiency and cooling, while reducing friction.
These include new high-pressure injectors, new balancer shafts, a thermal management system and selective catalytic reduction to regulate emissions.
Dual-screen digital cockpit
Moving inside, the Kia’s cockpit technology has been completely renewed, and at the heart of the digital action is a new twin-screen display system that places a digital instrument cluster and central infotainment system (both measuring 31.2cm) under a single seamless piece of glass.
The infotainment system enables users to connect two smartphones via Bluetooth at the same time, enabling separate phones to be used for phone calls or media.
Kia has also made an effort to create a more sociable environment inside, with features such as the new ‘Rear Passenger View & Talk’ gizmo. This uses a small camera linked to the infotainment system to allow front occupants to check on and interact with those at the back, instead of turning around in their seat.
Level 2 semi-autonomous driving
The new MPV’s brag sheet also includes a glut of driver assistance gadgets that give it ‘Level 2’ semi-autonomous driving ability, although the fitment of these gadgets will depend on the market in question.
Available features include Forward Collision-Avoidance Assist with car, pedestrian and cyclist detection; Lane Keeping Assist, Intelligent Speed Limit Assist, Navigation-based Smart Cruise Control and Highway Driving Assist.
Another thoughtful safety touch is the Safe Exit Assist system that prevents the power-sliding rear doors from opening – and young passengers exiting the vehicle – if the system detects a car approaching from behind on either side.
Watch this space for more details on the South African line-up nearer to launch.


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Ford Motor's decision to leave open the option of selling Jaguar and Land Rover separately may help the US carmaker attract buyers for the two luxury brands.
They share management, procurement and some other functions but have sharply different product portfolios and financial situations. And while Land Rover is understood to be profitable, Jaguar has been losing money for Ford for years.
"They have seriously considered whether to sell them separately or not," a person familiar with the sale said. "All options are open."
However, Ford still hopes to find a single buyer for both.
The company on Tuesday sought to contain a growing backlash in the UK against the news that it had appointed advisers for the two brands' possible sale.
In a memo to staff, Geoff Polites, Jaguar and Land Rover's chief executive, urged employees not to "feel unsettled" by the question marks that had arisen over the two brands' future.
"I'd ask you to ignore the speculation and concentrate on what we have to deliver in our business in 2007," Mr Polites told staff on Tuesday. This should not "divert our attention from the tasks at hand".
Ford on Tuesday confirmed that it was "actively investigating its options" for the two marques.
"We are working with our financial advisors to determine the best future for Jaguar and Land Rover," a spokesman said.
The news that Ford might sell either or both brands puzzled some observers, and surprised many of its luxury brands' roughly 16,000 UK employees. While Jaguar continues to struggle with a revamp of its car portfolio, Land Rover has been chalking up record sales.
Eric McDonald, a senior organiser with the Unite union in Birmingham, said workers had been "very surprised" by news of the possible sale. "Senior managers were telling us they were not for sale," he says.
Relations between unions and Ford have historically been tense. Production at Land Rover's Lode Lane plant in Solihull was halted by strikes over pay in 2004; later that year, workers agreed to change working practices after Ford threatened to withhold investment.
As recently as March, Lewis Booth, who heads Ford's Premier Automotive Group, said that the two brands were "not for sale." People close to the company said Ford's decision to unload the two brands was motivated primarily by the desire of Alan Mulally, chief executive, to fashion a more streamlined mass-market business.
Ford lost $12.7bn last year and executives have said that they expect to burn more cash as they seek to restore the company's lossmaking US operations to profitability by 2009. "I think there's a new management in the US who want to focus on the Blue Oval, and these overseas brands are an unnecessary distraction," says a person close to the company.Land Rover and Jaguar sell only about 250,000- 300,000 vehicles between them and may be a distraction from Ford's larger turnround effort.
"It's about return on investment and whether you would be better off deploying management resources elsewhere," says one Ford official.
Analysts said there were few obvious industry buyers for the marques among established companies, although one of Asia's emerging carmakers might be interested.
Private equity investors are widely seen as likelier buyers following last month's $7.4bn sale of Chrysler to Cerberus. That sale and Ford's auction of its Aston Martin brand in March drew interest from several other buy-out groups, including Blackstone and Permira. A private equity buy-out would be viewed with deep suspicion in the West Midlands, home to most of the Jaguar and Land Rover plants.
The hostility of trade unions and the public contributed to the failure of a bid by buy-out group Alchemy for Rover Cars in 2000. Lord Bhattacharyya, the Labour peer and manufacturing expert, said on Tuesday that he strongly opposed any sale to private equity investors. "If Ford could not make Jaguar profitable, then how can private equity?" he says.
"We are opposed to private equity investors buying [Jaguar and Land Rover]," Mr McDonald, the trade unionist, says. "They close pension schemes, make people redundant and strip assets. We would resist that sort of buyer."
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Rockland man charged with unarmed robbery
The Patriot Ledger
A Rockland man was arrested after allegedly robbing the Dunkin’ Donuts shop at Five Corners.
Nicolas A. Chase, 23, had ordered a cup of coffee at the shop on Monday evening. When the cash drawer was open, he grabbed a handful of $20 bills, employees told police. He drove away in a silver Honda Accord.
An officer who was driving in the area pulled up behind Chase. A search of the car turned up money and the clothing employees had described him as wearing.
Chase was charged with unarmed robbery and altering his license plate.


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Is your marketing to moms missing the mark?
By Rieva Lesonsky
A new global study from Saatchi & Saatchi, Moms and Marketing: IRL (In Real Life), shows 51 percent of moms don’t believe marketers understand them. As Adweek notes, that’s about 1 billion women who don’t like how they’re being marketed to because they think businesses are “not speaking to them in authentic ways.”
Specifically, the moms surveyed think marketers misunderstand them and have outdated views about them. Adweek reports, “Moms dislike when marketers portray their role as ‘the toughest job in the world,’ an exhausting daily grind emphasized ‘by showing frazzled drudgery with the odd moment of saintly pride.’ ”
Mary Mills, worldwide director of strategic intelligence at Saatchi & Saatchi, says businesses should “stop treating motherhood as a job” in their marketing. She further notes marketers shouldn’t position their products and services as helping women excel at their “maternal careers.”
It’s not about helping Mom attain perfection or putting her on a pedestal. Mills says, “Avoid the ‘happy housewife,’ the one-dimensional caretaker, the striving perfectionist. Motherhood is about being, not doing. The aim of every mum is surely to be a good mother, not to do well at motherhood.”
Instead, says Adweek, “moms mainly see themselves as ‘carers,’ spending nearly half their time providing for their family’s emotional needs.” They also view themselves as “elders” (spreading cultural wisdom—13 percent), “coaches” (guiding kids on how to behave—11 percent), “playmates,” “heroes,” “friends” and “fans.”
Mills advises marketers who target moms to address the varied roles moms play, including letting “her be the goofy one for a change. Let Mom be fun.”


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SAVAGE, Minnesota, March 30, 2022 – To deliver leading-edge automation products to customers in the shortest possible timeframes, Beckhoff USA is upgrading its distribution operations with the new Infinity™ Automated Storage and Retrieval System (AS/RS) from OPEX® Corporation. Infinity™ is a next-generation Goods-to-Person (G2P) solution that features numerous Beckhoff technologies inside. This warehouse automation project at Beckhoff’s U.S. headquarters in Savage, Minnesota, will streamline operations and supply chain management to improve shipments and deliveries in the U.S.
“Beckhoff continues to grow rapidly across the U.S., particularly in intralogistics and other high-tech industries, so implementing the OPEX Infinity will allow us to scale our operations at an exceptional rate,” said Kevin Barker, President of Beckhoff Automation LLC. “With the Beckhoff-equipped Infinity solution, we will ramp up our own logistics automation and take full advantage of the vertical space in our bustling Minneapolis-area warehouse. This innovative AS/RS will help us not only meet our immediate warehousing needs — in terms of greater fulfillment speed and accuracy — but it will also support further expansions to best serve our customers over the coming years.”
OPEX Corporation — a global intralogistics leader based in Moorestown, New Jersey — officially unveiled Infinity at the MODEX 2022 trade show. This G2P system offers top-tier storage density, modularity and flexibility to empower companies to meet today’s pressing warehouse automation challenges. Using wireless Infinity iBOT® robotic vehicles, triple-deep tote storage and OPEX’s proprietary Cortex™ software platform, Infinity delivers the right SKU to the right operator or workstation exactly when it is needed. According to OPEX, this can increase storage capacity by 35% while making bot paths up to 65% more efficient, thereby boosting throughput, productivity and labor utilization.
“After years of research and development, we are excited to publicly launch Infinity at MODEX,” said Alex Stevens, President of OPEX Warehouse Automation. “Interest in the Infinity system has been unprecedented, and we are excited to have one of our key technology partners be an early adopter of our technology. It’s a true testament of the power of this system.”
This announcement is the latest development in the long-term collaboration between the two companies, noted Doug Schuchart, Global Intralogistics Industry Manager for Beckhoff. OPEX is a longstanding Beckhoff customer, and the Infinity AS/RS relies heavily on the EtherCAT industrial Ethernet system, including numerous I/O terminals, Safety over EtherCAT (FSoE) for integrated functional safety and the EP7402 EtherCAT Box, a machine mountable controller for motor-driven roller (MDR) conveyors.
“We have worked with OPEX for many years on exciting new solutions using Beckhoff technology. Now, we chose OPEX to help modernize our own distribution operations with an AS/RS in large part because of the company’s inventive, skillful use of Beckhoff solutions,” Schuchart said. “Our U.S. headquarters already has a state-of-the-art automation showroom, but now we will have exciting opportunities to showcase New Automation Technology from Beckhoff as a real intralogistics application in our day-to-day warehouse operations. Most importantly, Beckhoff is excited to further improve customer experiences through this intralogistics collaboration with OPEX.”
About Beckhoff Automation
Beckhoff Automation is a provider of advanced and open automation solutions based upon proven technologies for customers to implement high performance control systems faster and at a lower overall cost than traditional PLC and motion control systems. Beckhoff’s “New Automation Technology” product range includes PC-based control, Industrial PCs, automation controllers, operator interfaces, I/O, servo drives and motors. With representation in more than 75 countries, Beckhoff is well-positioned to provide global sales and service to its customers. Beckhoff sales and service are handled directly, with no intermediaries involved for exceptional customer service and consultation.
About OPEX Corporation
OPEX Corporation is a global leader in Next Generation Automation, providing innovative, unique solutions for warehouse, document and mail automation. With headquarters in Moorestown, NJ, USA — and facilities in Pennsauken, NJ; Plano, TX; France; Germany; Switzerland; the United Kingdom; and Australia — OPEX has more than 1,500 employees who are continuously reimagining and delivering customized, scalable technology solutions that solve the business challenges of today and the future.


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Wine takes to Internet in a big way
Published: Tuesday, April 28, 2009 at 3:58 p.m.
Last Modified: Tuesday, April 28, 2009 at 3:58 p.m.
A naked lady riding a bicycle is the image on the label of Cycles Gladiator wine, but marketing to the millennials, the offspring of the baby boomers, requires more than sex appeal. It requires a Net-savvy courtship.
The black hole of the Internet offers people an endless opportunity to chatter, to banter, and yes, to market.
Katey and Nicole Bacigalupi of John Tyler Wines in Healdsburg spend 20 hours a week updating social networking Web sites that focus on wine.
“It’s all free,” said 26-year old Katey. “Isn't that crazy? The Net is endless outreach. The sky is the limit.”
Here are some Web sites that will pique the interest of wine-lovers:
Wine2.0 (winetwo.com) — This social networking site, which features wine events, focuses on millennials, the offspring of the baby boomers. It has forums, blogs and videos.
Twittertastelive.com — This is a crossroads between Twitter, the technology that allows people to chat in real time, and people tasting wine in real time.
Cruvee.com — This is a social media monitoring site. It interprets measures and engages in online chatter. It feeds information to online sources and provides near “real time” wine consumer insights to help wineries know their current target.
Wineconsortium.com — A site that seems entirely industry oriented at first glance, but there are actually some great perks for everyday wine consumers such as discounts, specialty tastings and nifty products like decanters.
Vinography.com — This wine blog by Alder Yarrowfocuses on wine and food adventures in San Francisco and beyond. It reviews food and drink, as well as offers event wine coverage.
Fermentation.com — Writer Tom Wark puts it best: “It’s a blog inside the world of wine public relations, where the media, culture and I mingle.”
— Peg Melnik
Hahn Family Wines, which produces the Gladiator label in Soledad, has supported and participated in Wine 2.0 Twitter Taste Live and wine blogger forum events. Closer to home at John Tyler Wines in Healdsburg, marketers Katey Bacigalupi and twin sister Nicole spend 20 hours a week on social networking Web sites to promote their wine.
Last weekend was the signature Passport to Dry Creek Valley event, and with more wine events in the months ahead, vintners are keeping an eye on the millennials, a demographic that ranges in age from 21 to 31. Wineries may want to monitor consumption, yes, but they also want to tap into this generation that is now “driving the wine market as key agents of change,” according to Vic Motto, a wine analyst with Global Wine Partners in Napa..
“Every generation redefines culture,” Motto said. “The trends toward social networking in part define this generation and the rapid communication of information supports this.”
The millennials are, by all accounts, as information-savvy as a computer chip.
“Despite the information overload of the high-tech age, these new consumers are not overwhelmed by a large quantity of information,” Motto said. “They are willing to take chances on new things, but they sort them out and filter them very quickly. So, with rapid communication, there is unprecedented consensus about what’s hot and what’s not.”
Motto said his hip “resident millennial,” Harvard-educated son Scott Becker, tells him one of the most popular Web sites is Cruvee.com. This media-monitoring and networking site helps wineries promote their brands by measuring, interpreting and engaging in online doings. The site’s home page says it “feeds” information to online sources and offers “real-time wine consumer insights” to help wineries know who their current market is.
What exactly are sites like Cruvee interpreting? The chatter of course. The rapid-fire conversations on sites everywhere in our global village, like Twitter, Twitter Taste Live and Cellartracker.
Twitter, a social messaging site, has revolutionized the way people communicate — minute by minute. Twitter Taste Live is a hub for twittering wine tasters, a site that’s a crossroad of social networking and wine tasting. Cellartracker is yet another popular site where viewers browse wines and take part in tasting note forums. It offers a link to Wine Library TV, the video blog of zany Gary Vaynerchuk of Springfield, N.J.
The pulse of the Net is not lost on wineries like Hahn. President Bill Leigon said that “within the last year our staff members have been immersed in social media as part of their job (twittering, blogging, etc.). We have built a growing online community and following.”
But how does the online wine community translate into real life? What do wineries need to do or expect when 20-something enthusiasts decide to visit the tasting rooms?
“At (Healdsburg’s) Bella Vineyards we can speak from experience in the tasting room that some groups of visitors are walking the line between being good guests and otherwise,” said Tim Nordvedt, wine club director. “As anyone who has worked in the service business knows, there are limits and rules. We cannot serve anyone who appears drunk and there are some obvious lines of respect for staff and other customers that cannot be crossed. But, from my experience, millennials are very respectful ... When they are out of line, they tend to accept the limits that we ask of them and back down.”
Benziger Family Wines in Glen Ellen has a tasting fee and that limits crowds “looking for free drinks,” according to Jessica LaBounty, senior marketing manager. The winery also has a reservation policy and a bus policy that helps control larger groups. “With all our guests we practice responsible hospitality, meaning we don’t over-serve or tolerate inappropriate behavior in the tasting room.”
When behavior isn’t an issue, wineries can court the millennial on the other side of the counter.
“The first step in getting millennials to pay attention to your brand is to stop acting like they’re anything but intelligent, well-researched, conscientious consumers,” said LaBounty, who at 27 is herself a millennial. “Because if you don’t, they’ll Google you, find out what you’re really about, and blog about it later.”
Another tip is to “think geography.” Julien Gervreau, 27, an account manager at Marie Gewirtz Public Relations and Marketing in Healdsburg, said the agency encourages its client wineries to “establish a firm sense of place. ... Millennials are ever-conscious of where their food and the other items they consume come from, and the wineries that can help them bridge this gap, stand out.”
Yet another way to channel their enthusiasm is through wine education, according to Ellen Hunt of Napa’s Scion Advisors. “Millennials pride themselves on being informed consumers. ... Wine education can include wine knowledge, as well as wine and food pairing information. They also want to seen as savvy entertainers .”
Whatever strategies wineries choose, they would be wise to remember “online conversations are king,” according to Lisa Adams of Napa’s Adams Walter Communications.
“Forward-thinking wineries are actively engaged in social media and are having conversations with their consumers online,” Adams said. “Wineries that choose to ignore social media are missing out as there are consumers out there right now, talking about wine worldwide, every minute of the day. Why not be part of the conversation?”
Wine writer Peg Melnik can be reached at 707-521-5310 or email@example.com.
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The lights are on
Capcom has released a series of new screens for its upcoming Strider reboot.
You can see the collection of new screens in the gallery below showing Mr. Hiryu Strider fighting robots, fighting people, and fighting the laws of gravity. Strider is a classic Capcom action-platforming character that hasn't appeared outside of cameos in fighting games in quite some time.
The new Strider is planned for release on Xbox One and 360, PlayStation 4 and 4, and PC. Capcom says the game will be available early 2014, but it hasn't clarified exactly when, or if all versions of the game will release simultaneously.
For more on Strider, check out our recent preview.
[Source: Capcom Unity]
Email the author Kyle Hilliard, or follow on Twitter, Google+, Facebook, and Game Informer.
No one has commented on this article.


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The cosmetics company Avon Products said on Thursday that it faced a bill for up to $132m (£80m) to settle a US bribery investigation into the company's drive to expand overseas.
Avon, famous for its army of Avon Lady sales reps, has had problems regarding its Chinese business since 2008, just two years after it started trading in the country, when it launched an internal inquiry into allegations of improper payments in China.
In 2011 the US securities and exchange commission and the US justice department began an investigation under American law defined by the Foreign Corrupt Practices Act. The inquiries have so far cost Avon $300m.
The company, which sacked four senior executives in 2011, said on Thursday that there were no assurances that it would reach a settlement and if it did, the company could not estimate its timing.
The possible settlement of $132m, however, would be about $40m more than the group had set aside and $120m more than it first offered as a settlement.
The legal update came as Avon revealed worse than expected recent trading. Sales fell 10% to $2.7bn, while operating losses climbed to $17m.
In recent years Avon has been betting on emerging markets for growth to offset a decline in business in the US. But over the last three months trade has deteriorated in Mexico and Russia, and sales fell by half in China.
In north America, Avon's sales of beauty products were down 25%. The number of sales reps was down 17%.
A bright spot was Brazil, Avon's top market, where sales rose 6%, stripping out the impact of foreign exchange.
Avon's net loss narrowed to $69m, or 16 cents per share, from $162m.
The company's chief executive, Sheri McCoy, who took the reins almost two years ago with a promise to turn around the company, said in a statement: "Much works remains to be done."


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gap glenn gapat www.gapinc.com full press release here. - Gap Inc. 17 May 2012 . business to drive performance,” said Glenn Murphy, chairman and . Total net sales for the Gap Inc. Direct division increased 18 percent to .
gap glenn gapat www.gapinc.com Gap Inc Reports Third Quarter Results 20 Nov 2014 . experiences which will differentiate our portfolio of brands in the marketplace,” said Glenn Murphy, chairman and chief executive officer, Gap .


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It’s usually good to be the king and that’s particularly true of ETFs that are among the kings of Tesla exposure, including the ARK Autonomous Technology & Robotics ETF (CBOE: ARKQ).
ARKQ allocates nearly 11% of its weight to Tesla, one of the highest allocations to the electric vehicle juggernaut among all ETFs. That positions the ARK fund to benefit from another impressive batch of earnings from Tesla and, perhaps, the company’s entry into the S&P 500.
“Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough,” reports Bloomberg. “The positive quarterly earnings Tesla reported Wednesday were its fourth in a row, again surprising Wall Street analysts and possibly paving the way for its soaring stock to join the S&P 500 Index.”
ARKQ captures the converging industrial and technology sectors, capitalizing from autonomous vehicles, robotics, 3D printing, and energy storage technologies. That wide mandate helps lever the ARK fund too much more than just self-driving cars, an important trait at a time of rapid robotics advancements.
Disruptive technology is not relegated to certain sectors as it will permeate into all industries in some form or fashion. For example, AI is gaining widespread attention for its ability to be a disruptive technology that spans across a variety of sectors.
Tesla’s latest earnings “validate the unconventional efforts that Musk made to shore up earnings in the midst of the health crisis that’s expected to leave other U.S. automakers posting losses. The profit further boosted Tesla’s already lofty share price, which has quadrupled since March in part based on speculation the stock could be added to the S&P 500,” according to Bloomberg.
What makes ARKQ increasingly relevant in today’s investing landscape is that it features a harmonious approach to accessing automation and innovation whereas some rival funds emphasize one, but not both of those concepts. Additionally, automation often gets a bum rap because it’s seen as a jobs killer, but the opposite could prove true over time.
“Tesla reported a profit of 50 cents a share on a GAAP basis Wednesday, beating analysts’ consensus estimate for a loss of $1.06 a share. Revenue fell from a year ago to $6.04 billion, topping analysts’ expectations for $5.4 billion,” according to Bloomberg.
For more on disruptive technologies, visit our Disruptive Technology Channel.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.


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Ag groups talk trade deal with Vice President Pence
Vice President Mike Pence continued his promotional tour for the new North American trade agreement on May 16 with a visit to J&D Manufacturing, a family-owned business in Eau Claire that creates ventilation systems for agriculture.
Pence told about 100 people gathered at J&D Manufacturing that the U.S-Mexico-Canada Agreement, or USMCA, would "level the playing field" and Congress should pass it this year.
The visit included a roundtable discussion with stakeholders from the agricultural and manufacturing communities and legislators to discuss the USMCA. Members of FarmFirst Dairy Cooperative and the Wisconsin Farm Bureau Federation (WFBF) joined the discussion, which focused on the need for trade agreements between allied countries and the importance of trade to Wisconsin’s economy.
FarmFirst Dairy Cooperative board member and dairy farmer Wayne Gajewski, of Athens, expressed the need to pass the USMCA during this discussion.
“Trade agreements have proven to be very important for U.S. dairy, which is why it is imperative to pass the USMCA,” says Gajewski in a press release. “Every day that passes without ratifying USMCA is another day that the U.S. dairy industry risks losing valuable market share.”
Discussions focused on the value that trade agreements like USMCA had on industries including dairy, soybeans and manufacturing, to name a few. Pence highlighted several of the positive changes made to the USMCA, including greater access to Canada and continuing a great trading relationship with Mexico.
“Trade is an important piece of the puzzle when it comes to U.S. milk prices, and the strong trade relationships that have been built over time are hanging in the balance as the USMCA waits to be passed by Congress. We appreciate Vice President Mike Pence for his words today focused on the value that USMCA provides to U.S. dairy, and look forward to it’s swift passage soon,” says Jeff Lyon, General Manager for FarmFirst Dairy Cooperative, in a press release. “It is also important that the retaliatory tariffs are lifted to restore trade relations and continue to work towards free and fair trade.”
The USMCA was originally signed by President Trump back on Nov. 30, 2018. In a press release, FarmFirst Dairy Cooperative stated it supports the USMCA as it should yield benefits to U.S. dairy producers if fully enacted.
“It is important to all members of FarmFirst Dairy Cooperative that our concerns are heard,” says Gajewski. “We look forward to the passage of the USMCA and for the tariffs to be lifted — and hopefully soon on both accounts.”
Related:'When the heartland succeeds, America succeeds': VP Pence pushes proposed new trade deal
In addition to Wayne Gajewski, nine other FarmFirst members were in attendance showing support of passing USMCA including board members Brian Wozniak of Stanley, Jean Reisinger of Spring Green, and Rich Meyer of Unity.
“Wisconsin’s agricultural economy greatly benefits from trade and the relationships with our neighboring countries,” said WFBF President Jim Holte. “Any more market access we can grant our anxious farmers would be welcomed.”
During the roundtable discussion Holte emphasized the need to pass the USMCA soon, noting that as time passes the more market share farmers and processors lose, according to a press release.
“Farmers and food processors have been impacted by both the steel and aluminum prices as well as the retaliatory tariffs,” Holte added. “We need a resolution to these immediately.”
The Associated Press contributed to this article.
Carol Spaeth-Bauer at 262-875-9490 or email@example.com. Follow her on Twitter at cspaethbauer or Facebook at https://www.facebook.com/carol.spaethbauer.


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Over a 14-year period, from 1997 to 2011, Volvo Trucks, Daimler, Paccar’s DAF and CNH Industrial’s Iveco conspired with each other – and with VW-owned MAN – on the factory prices of medium and heavy trucks, the European Commission found.
News of price-fixing cartels is not unheard of in the automotive industry, with varying time scales and scales of operation. But what happens when these cartels are exposed? How can those affected by the cartels receive compensation for their losses and where does the money retrieved actually go?
Automotive Logistics spoke to David Went, a specialist competition law barrister at Exchange Chambers, with a particular interest in the automotive sector, about the recent European truckmaker cartel case and the nature of these cases more broadly.
AL: When the European Commission, or another body, fines a truckmaker, where do the fines go?DW: "The money just goes into the general EU budget and this then reduces the contributions required from Member States. There have been suggestions that the money should be directed to the victims of cartels but this has not been adopted in practice."
AL: How do bodies such as the European Commission decide on how big the fines will be?DW: "The European Commission follows a set of guidelines when imposing fines. Broadly speaking, the fine will have been based on a percentage of the truck maker’s sales in the product market to which the infringement related.
"The Commission would have started by taking each truck maker’s revenues from the sale of medium and heavy trucks in the European Economic Area in the final year of the cartel. The Commission would then have taken a percentage of this revenue figure – probably in the 18-25% range for a serious cartel such as this. The resulting figure would then have been multiplied by the number of years the cartel operated for.
"The enormity of the fines in this case is in good part a result of the fact that the cartel operated for 14 years.
"There are various adjustments made for matters such as leniency, mitigation and aggravating factors – MAN had its fine reduced to zero, for example, as the immunity applicant. Some of the other truck makers had fairly significant discounts too. Five of the truck makers (but not Scania) also chose to settle the case rather than going through all stages of the Commission proceedings. The companies that settled received an extra 10% discount as well.
David Went, a specialist competition law barrister at Exchange Chambers, with a particular interest in the automotive sector
AL: Can companies or individuals that have been affected by the price fixing sue the truckmakers involved separately?DW: "Yes. That’s going to happen without doubt. In the vast majority of cases these days, victims of cartels seek to obtain compensation for the harm they have suffered.
"Once you have a European Commission fining decision, that can be used to prove liability before Member State courts. Actions to recover monies owed to victims of cartels are known as 'follow on' damages actions when they rely on a Commission decision in this way. In such cases, it is still necessary to show that the victims have suffered loss and to quantify the amount of loss but it certainly helps to have liability proven.
"There are three countries in Europe that are seen as particularly favourable for bringing follow-on damages actions – the UK, the Netherlands and Germany. An action has already been started in the Netherlands with a view to trying to recover monies owed to purchasers of trucks and cases will probably be launched in the UK soon."
AL: Do laws differ between Europe and the US for this type of case?DW: "The laws for damages actions do differ considerably between Europe and the US. The class action system in the US is very much weighted in favour of those bringing claims for damages. For example, there is no 'loser pays' rule and treble damages can be awarded. There are more safeguards in Europe.
"Jurisdictions vary within Europe too. The UK legal system has always been quite different from the continental system not least because of the ability to obtain evidence through disclosure. We also had a revamp of our system from October last year with changes brought about by the Consumer Rights Act 2015. It is now possible for a representative to be appointed to bring a single action for damages on behalf of all or a group of companies affected by this kind of cartel. This cartel may in fact be one of the first that uses this new collective proceedings system."
AL: How can the haulage industry get compensated for the losses/increased prices they have incurred?DW: "As discussed, there’s scope for companies who have suffered higher prices and lower profits as a result of a cartel to seek compensation. If you turn the clock back a decade or so, when companies were fined for this type of activity, discussions between the cartel members and their customers might result in some form of compensation being paid to customers on an informal and ad hoc basis. Times have changed though and court action (or at least the threat of court action) now tends to follow cartel fining decisions."
AL: Will the UK leaving the EU affect rulings and investigations such as this one?DW: "The jury is out as to what impact Brexit might have on European Commission investigations into cartels. It will ultimately come down to the deal the UK negotiates with the EU.
"If the UK were to become a separate jurisdiction from the rest of the EU for purposes of EU competition rules, then these types of cartel investigations would be affected. The European Commission wouldn’t have jurisdiction to review the UK element of a cartel, and we would no doubt end up with more situations where the Competition and Markets Authority (CMA) or sector regulators are conducting parallel investigations. This could be an additional burden for companies in these kinds of cases."
"Interestingly in this particular case, it appears that the infringement was originally detected by the then Office of Fair Trading (OFT) in the UK – now the CMA. The OFT dropped its investigation once the European Commission had started its own investigation and presumably realising that it affected the whole of Europe and not just the UK."
AL: Why do you think MAN told the Commission about the price fixing?DW: "It’s not clear from public records as to precisely what happened but, as I mentioned, it seems as though the cartel may first have been detected in the UK. Perhaps the OFT’s starting its investigation triggered MAN to submit an immunity application to the European Commission.
"The carrot for being the first to spill the beans to the Commission is complete immunity from fines. Indeed, MAN had its €1.2 billion fine reduced to zero. MAN will not be protected though against potential follow-on damages actions before national courts. Given the real growth of damages actions in Europe, the risk of damages actions is part of the calculus that companies consider when deciding whether it makes sense to spill the beans.
"Of course, the whistle blowing policy and potential for immunity is meant to de-stabilise cartels and encourage those involved in cartels to reveal them to the authorities."
AL: Why did the European Commission decide to allow MAN to escape any fine at all, even though it had been complicit and profited from the price fixing for as long as all the other companies?DW: "Cartels are secretive by their very nature and so it’s hard for authorities to detect them. You might occasionally have situations where it’s clear that there’s something not going quite right in a market but that is not the norm. This is the reason for competition authorities introducing immunity policies."
AL: How would the price fixing affect consumers?DW: "When you say consumers, I’d think of you and me. As consumers are at the end of quite a long supply chain in this case, it’s too early to know whether consumers might have been affected or not.
"The most obvious victims of the cartel are those who purchased trucks during the operation of the cartel. Dealers may have been affected, although it is more likely that they will have passed on the higher prices to hauliers."
AL: What would happen in the appeal process, if the truckmakers decided to appeal the fines?DW: "Because five of the cartel members settled the case, I think it’s unlikely we’ll see appeals from any of them on the substance. After all, these companies were given a 10% discount for settling the case and admitting liability."
AL: As Scania didn’t admit its involvement in the cartel and is still being investigated, what is likely to be the outcome there?DW: "The European Commission will continue to investigate Scania and will pursue the process through to the end. Assuming the Commission has evidence that Scania was part of the cartel in relation to which the other truck manufacturers have already admitted liability, the Commission will then issue a fine on Scania. I would also expect Scania then to appeal the fining decision to the European General Court, with a potential further appeal to the European Court of Justice. That whole process could take a number of years yet."


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A serial thief allegedly under death threat over his offending has been jailed for five months for targeting retailers in Belfast.
Liam Foster stole perfume, tanning lotion and hair product as part of a campaign directed at stores in the city.
The 19-year-old also punched and threatened to stab a security guard who intervened as he tried to steal sunglasses from another shop.
Foster, of Kinnaird Street in the city, was convicted of thefts, attempted thefts, common assault, threats to kill and criminal damage to an electronic monitoring tag.
Belfast Magistrates’ Court heard he stole tanning lotion worth £86.50 from a branch of Boots in April last year.
In July he again targeted Boots as well as Specsavers in the city.
In October he targeted another two shops – B&M Bargains and Poundland.
Defence barrister Aileen Smyth argued that Foster has significant learning difficulties and a low IQ.
Ordering Foster to serve five months in the Young Offenders’ Centre, District Judge Liam McNally confirmed the sentence covered all offences.


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Sheffield men have some of the smallest feet in Britain, according to study
Men in Sheffield have some of the smallest feet in Britain, according to a new survey.
Research by shoe retailer Shoe Zone said that Sheffield is beaten only by Oxford, Milton Keynes, Leicester and Bradford when it comes to tiny tootsies.
The chain compiled its ‘footsie index’ after analysing sales data from 500 stores across Britain.
And it found that men in Hull have the biggest feet in Britain while those in Oxford have the tiniest.
It found overall the average size for men is nine and for women six.
But in Hull, nearly one in ten men has bought a size 12 or above in the last year.
They are followed by men in Blackpool, Edinburgh, Newcastle and Birmingham, where around five per cent — one in 20 — buy big.


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Chevy Silverado revives ads against Ford F-150, 'it's not an attack'
New Chevrolet Silverado ad campaign is the latest in a long, sometimes testy rivalry between General Motors and Ford over who makes the toughest pickups
Chevrolet launched a new, national ad campaign today for its Silverado pickups that revives the often testy battle with crosstown rival Ford over who makes the biggest, best or toughest truck.
The ad campaign touts the results of lab tests that it says show how the Silverado's roll-formed, high-strength steel bed suffers far less damage than the Ford F-150's aluminum truck bed when a load of concrete blocks are dumped into the back of the trucks.
The ads debuted today with four-page wrap-around print advertisements in the Detroit Free Press and The Detroit News along with an insert in USA Today and ads in several newspapers in Texas.
General Motors also posted a 3-minute video that shows the cinder block demonstration with the F-150 truck bed getting gashed by the concrete blocks and the Silverado truck bed only suffering dents.
"Our focus is on showing that we put the customer first in everything we do. So it's not an attack on Ford and it's not an attack on aluminium," Sandor Piszar, Chevrolet truck marketing director, told the Free Press. "Our engineering team found that we had a competitive advantage in the strength of our bed. Really, we are compelled to get the word out."
Piszar said the campaign is not a reaction to recent sales trends. Last month, sales of Ford's F-Series pickups rose 9% while sales of the Silverado fell 12.7%. But year-to-date, F-Series truck sales are up 7.4% and Silverado sales are flat compared with the same period last year.
Piszar said sales of all Chevrolet pickups, including the Colorado midsize pickup, have increased 15% over the past 12 months compared with 7% for Ford.
Ford spokesman Mike Levine pointed out that the F-150 continues to be the most popular truck in America.
"When you're the market leader for 39 years, competitors sometimes try to take shots at you with marketing stunts," Levine said. "The fact remains that F-150's high-strength, military grade, aluminum alloy cargo box offers the best combination of strength, durability, corrosion resistance, capability, safety and fuel efficiency ever offered in a pickup."
Chevrolet's new ads extend its “Real People. Not Actors” campaign and follows other commercials that also have taken aim at Ford's F-150 pickups since they were launched with an aluminum body last year.
Piszar said the print ads also appeared in several newspapers in Texas, which is a top market for pickups. Chevrolet also will launch 30-second and 60-second television ads today and will air a two-minute video during ESPN's SportsCenter program that starts at 6 p.m. tonight.
Last summer, Chevy launched an ad called "Cages" that gave customers a choice between taking refuge in a steel cage or an aluminum cage when a grizzly bear entered the room.
"The cages execution actually showed what consumer perceptions were for steel verses aluminum," Piszar said. "The vast majority of people instantly ran into the steel cage, rather than the aluminum cage."
Chevrolet also made fun of Ford's pickups in a 2012 Super Bowl commercial called "Apocalypse."
That ad shows several good friends, who all drive Silverado pickups, getting together after the world nearly comes to an end. The only friend missing is "Dave," who was the only one among the group that drove a Ford F-150.
Ford was not amused. Ford executives sent a letter to GM telling the automaker to "immediately cease and desist" from airing the commercial.
Piszar drew a sharp contrast between the 2012 Super Bowl ad and the new campaign.
"I would suggest that a Super Bowl ad has a certain tone and that was fun ad," he said. "We are treating this (new campaign) very seriously. It's not treated in a lighthearted manner. ...It's based on sound engineering and testing procedures."
Contact Brent Snavely: 313-222-6512 or firstname.lastname@example.org. Follow him on Twitter @BrentSnavely.


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"Facebook advertising is predicted to hit US$4 billion this year, which is twice the volume of 2010 spending according to eMarketer. While brands are rapidly investing in the space, they lack comparative experience to assess how well their campaigns are performing. Webtrends has analyzed over eleven thousand campaigns to provide performance benchmarks brands can use to evaluate their own campaign performance.
The Webtrends database is a very large sample given the relatively young age of the Facebook ad network (see the stats at left). We focused on a few key metrics:
• Click-Through Rate (CTR)
• Cost per Click (CPC)
• Cost per Thousand (CPM)
• Cost per Fan (CPF)
LESS cLickS for MorE MonEy
From 2009 to 2010 the average CTR dropped while the costs increased. This is a typical pattern for display ad networks as the audience becomes more savvy and demand causes prices to rise. Brands investing now will save money building their Facebook ad programs now by taking advantage of currently low rates that will continue to increase over time. Facebook’s top advertisers have increased their ad spend 10 fold."
Source: Facebook Advertising Performance Benchmarks & Insights Whitepaper from Webtrends, 21st January 1011
(Lots more data including demographics in the full document)
Note on the data:
"Webtrends has amassed a large database of Facebook advertising campaign results. Here are a few stats on the volume of data analyzed for this report.
4.5 billion impressions
2.2 million clicks
11.2 thousand ads
1.5 thousand campaigns"


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Vietnam has weathered the global economic recession and is showing green shoots of recovery. However, there remain potential risks, and businesses are advised to draw up plans to cope with any fluctuations in the domestic economy.
Economic experts say there are a number of policy adjustments in 2010 that will affect business operations. Many provinces and cities will modify land prices to go up by 20-30 percent, causing corresponding increases in land, housing and office rents.
Government decisions to stop the 4-percent subsidy interest rate policy and increase the base interest rate will lead a rise in lending fees. Preferential policies for fees and VAT on many commodities, corporate income tax and personal income tax will no longer be applied in 2010, which will trigger a hike in material and labour costs.
A number of sectors such as electricity, coal, water and transport, are likely to increase their prices after being put on hold in 2009 to maintain macro-economic stability. The move will eventually cause a domino effect on the market, especially regarding input materials for production and daily living necessities.
In addition, the delayed effects of policies introduced in 2009, including disbursed loans, are expected to drive market prices and expenses up in 2010.
However, this year still presents many opportunities for businesses to make breakthroughs in development. Import-export taxes will be slashed, even to zero percent, as a result of WTO commitments and bilateral and regional free trade areas. The Government’s commitment to streamlining administrative procedures will help businesses reduce costs.
Dr Vu Viet Ngoan, deputy head of the National Assembly Economic Committee, says if the government can cut down 30 percent of its administrative procedures, total social investment capital will make up 40-41 percent of the GDP compared to 42.3 percent in 2009, while meeting the 6.5 percent economic growth target. This will help reduce investment from the State budget and mounting pressure on the macro balance, and also increase the quality of growth.
Dr Nguyen Van Thanh, a senior expert of the National Assembly, says businesses should seek to cut unnecessary costs, increase product quantities and restructure their products to minimise the impact of possible price hikes.
Dr Ngoan suggests that businesses shift to cash in on the domestic market, given the modest recovery of the global economy, the increasing trend of protectionism, and difficulties in export markets.
Nguyen Dinh Cung, an official from the Central Institute for Economic Management, explains that in the face of the global economic downturn, businesses introduced ‘impassive’ solutions, including cutting costs, the labour force, production, and working time. It’s now time for them to diversify and increase product quality, update production technology, improve management capacity, seek new markets, merge with other businesses and mobilise capital from different sources.
Hoang Minh Hao, an official from the Ministry of Labour, Invalids and Social Affairs, suggests that businesses develop healthy and harmonious relationships with employees to prevent disputes and strikes.
Dr Nguyen Thi Kim Thanh, Director of the Banking Development Strategy Institute points to the fact that policies are adjusted to keep up with market fluctuations and businesses should anticipate changes in policies to ensure their development strategies are on track.