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Tiny $217 Options Trade on Bitcoin Blockchain Could Be Wall Street’s Death Knell
The cryptocurrency business isn’t exchange Wall Street simply nonetheless. however inventors and entrepreneurs area unit engaged on it, with some initial success, albeit modest.
In this case, Associate in Nursing choice premium of zero.0202 bitcoin ($217 at the time) paid via a wise contract could have simply become the proof of idea.
The latest target for blockchain disruption is choices commerce tied to the quality & Poor’s five hundred Index, the most benchmark for U.S. stocks. It’s a huge market, with roughly $400 billion of the choices dynamic hands each day last year, on average.
Under the present setup, Wall Street companies usually execute the trades and handle the settlement subsequently – primarily ensuring the securities find yourself within the buyer’s account, which the money finally ends up with the vendor. except for investors, the method are often dear, thanks to the middlemen fees being charged, and slow, with settlement usually taking on a daily basis or 2.
In July, Emmanuel Goh, business executive of London-based firm skew., a startup specializing in analytical tools for the crypto business, says he came up with the thought of exploitation the bitcoin blockchain – the suburbanized network underpinning the decade-old cryptocurrency – to trade S&P five hundred choices.
Goh was antecedently a dealer in London for JPMorgan Chase, the biggest U.S. bank, wherever he slung choices on motorcar, chemical, shopper and industrial stocks. In alternative words, the choices market is Associate in Nursing arena he is aware of well, a minimum of within the ancient sense. Earlier this month, skew. (which spells its name with a period) announced $2 million in seed funding from many capital companies, as well as the geographic area icon Kleiner Perkins.
The S&P choices project was entirely experimental, Goh told CoinDesk – the challenge was principally to envision if it may be done. (The promotional material in all probability doesn’t hurt, either.) Since the trade would primarily be automatic via computer programing, it’d be more cost-effective to conduct and settle a great deal quicker, perhaps in barely ten or quarter-hour, per Goh.
Goh same the technology that created it doable comes from Crypto Garage, a subsidiary of the publically listed, Tokyo-based school firm Digital Garage. Crypto Garage has developed Associate in Nursing experience in good contracts, little strings of programming that may be encoded into the bitcoin blockchain to run once activated.
The dealing required to cross on the bitcoin blockchain, Goh said, as a result of it’s the foremost secure within the business, albeit good contracts area unit usually thought-about easier to program on the ethereum network.
So on Sept. 6, Goh says, he took some British pounds from Associate in Nursing in-house research-and-development fund at skew. regenerate those into bitcoin, and so used the return to shop for ten S&P five hundred decision spreads – a well-liked sort of choice – from Crypto Garage, all underneath a replacement good contract, with terms united to by each counterparties in minutes. The expiration date for the choices was set for the third weekday of the month, kind of like the quality observe on several exchanges.
At the offset, Skew. paid Associate in Nursing choice premium of zero.0202 bitcoin ($217 at the time) via the good contract, and Crypto Garage announce zero.04667 bitcoin as collateral.
On Sept. 20, the expiration date, the good contract mechanically used a value feed from Atlanta-based worldwide Exchange (parent company of the ny Stock Exchange) to ascertain the ultimate value for the S&P five hundred.
The trade went in skew.’s favor, leading to a payout of zero.036 bitcoin ($365 at the time). Crypto Garage got zero.01 bitcoin of its collateral back. (Skew later sent some a reimbursement to Crypto Garage, as a true-up.)
Above is a picture made with knowledge from the bitcoin blockchain – the trade settlement, at expiry. at first intimidating, it’s the elegant simplicity here that’s the promise of a blockchain-driven future.
At the top, that string of letters and varietys in blue is that the ID number for the dealing. On the left, the blue string is that the address wherever the collateral is keep, and also the white variety is that the quantity of collateral, in BTC. On the correct, the highest blue string is that the address of the winning counterparty within the trade, that came the white variety of bitcoin, and also the blue address just under that’s for the losing counterparty, that gets back the leftover collateral. In yellow, on the lower right, it shows that the dealing was confirmed 2068 times by the blockchain and so the yellow variety of bitcoin is that the total BTC return distributed to the 2 counterparties from the collateral, once deducting the fees.
For Goh, the massive takeaway from the exercise is that it worked.
“The trade settlement took forty five minutes to method, with total dealing prices up to many U.S. dollars,” he said. “The good contract is aware of precisely what proportion the parties can go back to.”
In theory, he says, the value would have remained an equivalent though the notional quantity of the trade had stretched into the millions or billions of greenbacks.
The vital half, he says, is that “you don’t have all the intermediaries.”
Could the new method be scaled up to handle the degree of S&P choices trades presently handled by securities firms? in all probability not while not enhancements to the bitcoin blockchain’s process capability, Goh says. however a great deal of programmers area unit engaged on doing simply that.
In the annals of technological breakthroughs, it’s not precisely mountain Franklin hanging a key on the top of a kite. however the small $217 choices trade may well be a success in creating monetary markets cheaper and quicker to use – with less Wall Street involvement.
UPDATE (Oct. 8, 18:00 UTC): An earlier version of this text misplaced Skew.’s headquarters. it’s in London, not Paris.


text: China to Test State-Backed Digital Currency in Four Regions ByJimmy AkiPRO INVESTOR Updated: 16 April 2020 China is actively moving forward with its Central Bank Digital Currency. New reports are now revealing how the rollout for the project could go. Yesterday, Ling Zhang, the Executive Director of M&A and Global Fiat at cryptocurrency exchange Binance, shared pictures of a purported wallet app that will be used in tandem with the Chinese digital asset on social media. Commercial and Tech Hotspots Will Get the Digital Yuan First Zhang confirmed that the wallet app is now available for download in four cities that the government has earmarked to be testing grounds for the asset – Xiongan, Chengdu, Shenzhen, and Suzhou. The selection isn’t especially surprising. Shenzhen is a notable economic district in the country. Zhang also noted that Xiongan is a new metropolis on the Beijing outskirts that has recently been dubbed the “smart city brain project.” The Xiongan New Area will come with an advanced smart infrastructure, with satellite information centers, sensors for identity recognition, an extensive 5G network, big data, and facilities for supercomputers. Several large tech companies – including Alibaba, Tencent, and Baidu. Beijing has been doing its best to ensure the adoption of digital assets moves forward, even in the face of the coronavirus pandemic. Of course, given that the government has been rumored to be on the development trail since last year, this isn’t much of a surprise either. Several experts have pointed out that the digital yuan will be launching sometime this year. If the government is rolling out tests in several regions, it would appear that the launch date isn’t so far off anymore. Blockchain Adoption is Speeding Up Too China has also been working significantly to improve blockchain adoption. Yesterday, the government published an official note in which it noted that it had set up a committee that will help build blockchain and distributed ledger technology standards across the country. As the note explained, the technical committee is made up of representatives from 15 organizations, all drawn from various sectors of the economy – including the financial, political, academic, industrial, and research industries. The list includes people from the Digital Currency Research Institute, the People’s Bank of China, Tencent, Baidu, MIIT, and the Zhejiang University. The committee lists 71 members from these organizations and more. MIIT vice-minister Chen Zhaoxiong will lead it. Di Gang, the vice head of the PBOC Digital Currency Research Institute, will also act as a committee vice-chairman. China’s blockchain investment is also beginning to catch the eye of organizations based in the United States. A recent report from New York-based research firm CB Insights explained that the country is rapidly catching up with the United States in terms of blockchain-related investments, with the economic powerhouse recording 22 percent of all blockchain investments in 2019. On the flip side, the United States accounted for 31 percent of investments. This represents a significant shift, especially since China had just 2 percent of all blockchain investments in 2015 – a period when the United States had 51 percent.

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Industry experts share the benefits of offering wearables at your facility and how they can engage your members.
According to the American College of Sports Medicine (ACSM), wearable technology has been a top three trend since it was first introduced to their annual Worldwide Survey of Fitness Trends in 2016.
While wearables have been around for a while, Craig Eagle, a co-owner of several Snap Fitness locations in Arizona, said they are something to keep on your radar as a gym owner.
“Clubs should definitely be paying attention to wearables,” said Eagle. “The consumer today is looking for fun, engaging digital devices that track their exercise in and outside of the gym. We have committed to using Myzone in all of our seven Snap Fitness locations since 2016.”
According to Eagle, wearables is a service that keeps on giving. Wearables provide your members the opportunity to become more engaged and potentially remain a member longer since they help create community.
“These wearable users having the ability to keep track of their own vitals during their workout is both safe and motivating,” explained Eagle. “It provides them the tools and information they need to see if they are limiting themselves and can go harder. With cardiovascular health being such a prevalent problem, being able to monitor it while staying fit is priceless.”
Greta Wagner, the executive director and executive vice president of Chelsea Piers Connecticut, agreed wearables are a good way to keep members motivated, but you shouldn’t heavily rely on them.
“We all know member results equal member retention,” said Wagner. “Tech allows us to show a member’s progress, so they will continue to be motivated and stay with their trainer or program. Outfitting our clubs and staff with the right amount of tech keeps members engaged without being overwhelmed. Of course, it’s equally important to be watchful of the downside: relying too much on tech and losing the human side of our business. Our members are more than numbers and stats.”
While you may be eager to reap the benefits of wearables, it is important to first have staff buy-in. Eagle said it’s a must to get your employees, trainers and instructors to wear the technology. Snap Fitness’ most successful clubs — when it comes to wearable technology — are where staff is the most engaged with Myzone and using it themselves.
According to Wagner, staff are naturally interested in products and learning. Providing them with the tools they need to experience new technology is key to keeping them selling it to your members.
Plus, members need to be thought of as well when it comes to implementing new tech. “While new items tend to trend initially, there is a vast difference in product use from our elite athletes to our senior members,” explained Wagner. “Of course, tech geeks want the latest, but most members who have found a wearable they love and that meets their needs tend not to upgrade so quickly. User friendly is the key for most members.”
Overall, there are great benefits to offering wearables. But just like any other amenity, you should make sure it’s a great fit for your members before diving in.
“The key to wearables is knowing the goal of your member,” said Wagner. “A trainer wouldn’t start with a new client without doing simple assessments. It’s no different for any wearable fitness technology. Know your members. Remember, like anything else in life it’s easy to go overboard, spend more than is necessary and lose interest quickly if the product is too complicated.”


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Ranveer Singh has been signed as the new face of Nivea Men in India and will be actively involved in all advertising, a series of marketing and customer initiatives, and digital campaigns.
The Bollywood actor is hoped to better help the Beiersdorf-owned brand communicate with a younger target audience and boost Nivea Men in the country by showcasing Singh’s sensitive attributes for the first time while also playing on the dynamic and spontaneous side the actor is known for.
Neil George, Managing Director, Nivea India, said, “Singh personifies the young India and embodies Nivea Men’s characteristics of being a powerhouse of talent and an achiever, who is straightforward yet quirky, confident but approachable, masculine but self-effacing, and above all caring.
“Nivea India is addressing the young, modern consumer and this is a step towards tapping into the trend of ‘modernity’ and Singh is the perfect evangelist for the brand to increase its engagement with the young India.”
Singh began working as the face of the brand in a multimedia deodorant campaign that ran from August 10th.


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Microsoft Working on New premium Windows 10 Mobile
The rumor mill has been speculating that since the Lumia line of smartphones has been axed, the Microsoft is working on a Surface-branded smartphone. Fresh information coming from Brad Sams, executive editor with Thurrott has revealed the company is examining a prototype of Windows 10 mobile device. Microsoft heavily pegged to re-enter the smartphone market, speculations are rife that the company could be probably working on a premium smartphone.
The information coming from Thurrott’s editor reveals that the Alex Kipman is heading the project. Kipman is the one who is pioneering on HoloLens project is working on the mysterious Windows 10 device. Hence, it seems that the smartphone could be coming with AR (augmented reality) and VR (virtual reality) capabilities.
It appears that this upcoming smartphone from Microsoft will be a premium device that will carry an expensive pricing. This would be an attempt from the company to convince other smartphone OEMs to make similar devices.
It is speculated that it may run Windows 10 on ARM that could be probably based on CShell. However, CShell is not very stable at present. Hence, the Redmond giant has plenty of work to deal with before making it available to the end user. CShell will unify experience Microsoft’s various devices. In the previous month, leaked images showing Windows Phone running on CShell had surfaced
A new chatbot by Microsoft, powered by an artificial intelligence has stirred controversy, by saying the holy book Quran is “very violent,” media reported. A chatbot designed for teenagers on the Kik messaging app, to avoid discussing politics and religion, it recently told a user that the Quran is “very violent”.
Microsoft said it has taken action to eliminate this kind of behavior, adding that these types of responses are rare from Zo. However, the bot’s characterisation of the Quran came in just its fourth message after the start of the conversation.
“The company’s previous chatbot Tay flamed out in spectacular fashion last March when it took less than a day to go from simulating the personality of a playful teen to a Holocaust-denying menace trying to spark a race war,” Buzzfeed report added.
Microsoft blamed the unsavory behavior of Tay on a concentrated effort by users to corrupt the bot but it claims no such attempt was made at bringing down Zo.
Microsoft launched its Skype Lite app for low-end Android smartphones in February this year specifically for the Indian market. On Wednesday, the company added Aadhaar integration to the app with its latest update.
Aadhaar is a 12-digit unique identification number based on biometric and demographic data for Indian residents. With Skype Lite’s Aadhaar integration, users can now identify themselves on request during video calls. Users will be prompted to enter their Aadhaar number, and it will be shown to the other party after the Unique Identification Authority of India (UIDAI) database is queried.
With the latest update to Skype Lite, either of the video call participants can request Aadhaar verification. For identity confirmation, users need to click on “Verify Aadhaar identity”, enter their 12-digit Aadhaar number and then authenticate with a one-time password sent via SMS. After validating this information once, users will be able to share this pre-selected information with other users as well.
The company says, “Skype will not store any Aadhaar information and as always, your personal information-including your video and audio conversations -is securely encrypted.”
How is Aadhaar integration useful?
Think of a situation where you need to place a video call to a government representative or an important business client. In this situation, with the help of Aadhaar verification, you will be able to confirm the identity of the person available on another side of the video call before you share sensitive confidential information with them.
“By using Aadhaar, both parties can verify their identity at the beginning of the call to prevent impersonation fraud,” the company said in its blog post.
Microsoft’s New Patent Anti-theft Feature for Laptop
At the end of May, Microsoft and Qualcomm announced a collaborative effort called Cellular PCs. It will be running on ARM-based CPUs and full edition of Windows 10. These devices will be able to deliver faster data connectivity through X16 LTE modem with eSIM connectivity. This upcoming initiative, as well as a new patent from Microsoft, will allow users to prevent laptop thefts even without a cellular subscription.
The new patent allows users to disable a lost or stolen laptop even without a SIM. It means even if the thief turns off the cellular network or removes the eSIM, users will be able to make use of function similar to the emergency call that will transmit a signal over the cellular network to the device to disable it.
It seems that in order to implement this feature, Microsoft will have to collaborate with cellular service providers. The Redmond giant has signed up with worldwide cellular service providers like Vodafone, AT&T, T-Mobile and BT/EE. It also appears that once a command is sent to disable the laptop, there won’t be any further user intervention to complete the process. It also seems to be an integral feature for laptop users. However, there seems to be a downside for it. If this feature becomes a reality, users will be having a risk of getting tracked even when the cellular connectivity feature is disabled.
Microsoft has confirmed that the Snapdragon 835 driven PCs will be running on Windows 10 and will offer always-on LTE connectivity along with longer battery life. This effort is Microsoft’s attempt at bringing Windows 10 experience to ARM ecosystem.
Asus Vivobook S With 15.6-Inch NanoEdge Display Launched
Asus has launched its new Vivobook S laptop with up to seventh-generation Intel Core processor. The highlight feature of the new Asus laptop is thin bezels on the display, described as NanoEdge by the company. NanoEdge bezel provides the laptop with an impressive 80-percent screen-to-body ratio.
The new portable from Asus Vivobook series runs on Windows 10, features a 15.6-inch Wideview colour rich display with full-HD (1080×1920 pixels) resolution and viewing angle of up to 178-degrees. The laptop is available with up to Intel Core i7-7500U processor and 8GB of DDR4 RAM. The laptop is available with up to 1TB of HDD storage and a combo option of 128GB SSD and 1TB HDD as well.
The connectivity options on the new Asus Vivobook S include a fingerprint sensor, USB 3.1 Type-C (Gen 1), USB 3.0, USB 2.0, Wi-Fi 802.11ac, and HDMI. It comes with a 42WHrs rated 3S1P, 3-cell Li-ion battery. Asus claims that the battery on the laptop can be charged up to 60 percent of its capacity in just 49 minutes.
The Asus Vivobook S laptop is already available for purchase and can be bought either from Asus’ own online store or through third-party retailers like Newegg in the US.
Microsoft Launched Modern Keyboard, Hidden Fingerprint Scanner
Microsoft silently unveiled a new keyboard on Thursday, called the Microsoft Modern Keyboard. “Our vision was to blend the Fingerprint reader into a keyboard, so it would appear to be any other key,” Microsoft mentions on the product page of the Modern Keyboard.
The fingerprint scanner has been placed on the second Windows key on the right side of the keyboard. The keyboard comes with aluminum frame and Microsoft claims it sports “highest quality” and is “virtually indestructible.”
The Modern Keyboard will allow Windows 10 users to enable Windows Hello fingerprint authentication on their devices. Microsoft claims a battery life of up to 2 months on a full charge.
The Microsoft Modern Keyboard with Fingerprint Scanner will work will Windows 8 and above devices, macOS 10.10.5 and above devices, Android 4.2 and above, and iOS 8 and iOS 9. Users need to make sure that the device should support Bluetooth 4.0 or higher for the Microsoft Modern Keyboard to work. Microsoft will also let users choose between using the Modern Keyboard with wireless/ wired interface.
Microsoft’s Modern Keyboard is priced at Rs. $129.99 (roughly Rs. 8,500), the new Modern Keyboard is listed as “coming soon” on the company’s US website. There is no information available on the website when the accessory will go on sale.
Windows 10 mobile C-shell, next version Os Microsoft
Windows 10 Mobile C shell is the next version of the OS Microsoft, under development and coming on the market presumably by early next year.
Aggiornamenti Lumia has recently managed to get hands on with the leaked version of CShell, showing off some new screenshots of CShell running on their Lumia 950 XL Windows Phone. They cover areas like the Start Screen, Notification Center, Keyboard, and Settings.
The starts page gains a couple of enhancements such as live tile resizing, ability to turn it on or off or set the dimension to “large”. It also adds the option to uninstall an app right from the start menu.
The notification center looks like similar to PC. Bluetooth, WiFi, Airplane Mode and the other quick action buttons are now at the base.
The keyboard in CShell running on Windows phone sees several enhancements. The emoticons are cleaner and the overall graphics have been updated.
Settings in CShell running on Windows phone, there appear to be a few new items, which do not still work. According to Aggiornamenti Lumia, there are some new video advice options, which “could help users in knowing the features that may not have come across before.”


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By Fritz Nelson, editor-in-chief
Restaurant owners are among the hundreds of business leaders Grow Wire editors talk with regularly. We’ve got to eat too, right? And, because restaurants were among the first retail businesses to shut down because of COVID-19, we talked with many of them first.
Their pain was palpable. In some cases, we felt resignation. The data doesn’t lie, and experts painted a gloomy outlook. We heard about layoffs and closures, but we also heard about small restaurants changing business models, offering takeout when they hadn’t before, creating family meals at family prices, clawing with every claw to hang on and ride it out.
But we also heard stories of hope, and those of us who eat supported the endless efforts to keep that fire of hope burning. Entire communities stepped up. Restaurants whose own businesses were on the line somehow managed to feed the elderly and frontline medical providers.
It sounded like ... a classic story of struggle and strife and failure slowly quenched by tapas-sized helpings of life. That story’s ending has yet to be written, but we wanted to tell it in a a format that’s different from the one we’ve delivered before.
This is the story of the restaurant industry during its mass shutdown, in podcast form, through the words of the protagonists themselves. It’ll rip your heart out at times. But we’re pretty sure a happy ending will come some day soon.
Tony Mangieri, owner, Una Pizza Napoletana, New York City
Karim Megji, owner, Wood & Water and The Gallery, Los Angeles
Brian Schofield, owner, Wicked Cheesy, Massachusetts
Sarah Grover, CMO, Veggie Grill, Los Angeles
Chris Keating, Group President for Restaurant, Media and Events, Winsight LLC., New York City
Host: Yours Truly
Producer: Kendall Fisher


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The MultiChoice Innovation Fund has granted South African vehicle service and repair platform Michanic a loan for US$400,000 so that it can continue to improve its technology and spread throughout the nation.
Lesetja Dikgale founded Michanic in 2016, which enables customers to seek immediate service and repair quotations via its online platform and save up to 35% in comparison to dealerships and independent garages.
The firm has serviced hundreds of cars since its founding and today collaborates with over 100 partner technicians across Gauteng and Johannesburg.
Following the acquisition of a US$400,000 debt from the MultiChoice Innovation Fund, it is currently preparing for more growth.
According to Dikgale, Michanic has grown at a pace of more than 80% annually and keeps breaking new ground in the aftermarket car sector.
He added that customers are under extreme time and financial pressure, and Michanic offers a solution to both problems by offering car maintenance and repairs at customers’ homes for their convenience. Additionally, because of its lower overhead, Michanic can reduce the cost of maintenance, in some cases by over 40%.
Michanic will be able to grow in the Eastern Cape, Mpumalanga, and the rest of the Western Cape thanks to funding from the MultiChoice Innovation Fund. Additionally, it wants to grow into the larger SADC area.
The startup’s CTO, Thabelo Mulelu, said that the money will also help Michanic to advance its technology and give it the potential to contact additional clients who are interested in or in need of its services.
Additionally, it will assist the business in expanding employment prospects for young, competent mechanics across the nation.
In the past year, the automobile sector as a whole has experienced emerging styles, adjustments, and concerns. The fast digitalization of the service sector is one of the largest transformations the industry has experienced since the start of the epidemic.
With more companies adopting a digital strategy as a critical component of operating a sustainable business, this change is here to stay and will continue to advance, and the automobile sector has embraced these changes.
Clearly, the digitalization of automotive maintenance and repair is crucial given the rapid increase in internet adoption. It’s a smart idea for automobile owners to look into scheduling services like Michanic, so they can obtain the services they require without any hassle.
Additionally, despite its youth, this industry is receiving the attention it deserves, and it is hoped that more investors will enter the market to help platforms like Michanic develop and spread to new areas.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.


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Solar is strong but there is a problem
80% of households in Europe would find it cheaper to produce their own electricity than to purchase it from a company.
However, Europe is falling well behind in the race to install enough solar power.
The European Commission status report says the installation rate of panels has to increase more than five times by 2025, and double that again if Europe is to convert to electric cars and fuels like hydrogen.
Renewable Energy via Direct Current
The fossil AC grid is slowing us down
We are using a 19th century technology to transmit electricty - Altenating Current meant for a time when:
all electricity generators were rotating turbines
power consumers were simple rotating motors
Solar Panels, however, generate Direct Current (DC).
Most all final energy consumption is also in Direct Current - including all electronics, modern industrial motors, robotics and batteries.
This DC Native consumption is set to explode as by 2030 we will have 0,8 TW of Electric Vehicle chargers installed in the EU, with the total electric grid capacity reaching just 1,4 TW.
Direct Current will drive us forward
We must throw off the AC training wheels from modern technology and link Direct Current Power Sources and Direct Current consumers with Direct Current.
Distributed DC native technologies have the power to
improve solar energy efficiency by up to 30% and
reduce power electronics costs of solar and storage by up to 50%
Ubik has the technology to take the next leap.
Find out more in our recent whitepaper:
Ubik is proud to be the first non-founding member of the
Current/OS is an independent foundation created by Eaton and Schneider in 2021 to break the way to market for clean Direct Current
Our devices are deployed in the next generation of
household and public space projects across Europe


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UPDATED: October 2, 2017 5:33 PM — Fields Motorcars of Florida, Inc. is pursuing a second phase of expansion investment for its BMW South Orlando dealership, valued at more than $3 million.
Located at 9750 S. Orange Blossom Trail, the dealership has been open since 2006 and covers 6.28 acres. It began expansion plans last year by paving 1.61 of those acres for another 122 new vehicle parking spaces, giving it 338 overall, which was completed this May.
Now the company wants to add 9,836 square feet to its showroom and service building, up from the current 20,968 square feet, and add 3,297 square feet of new drive-thru covered service reception area.
"The updated look we'll be getting is the manufacturer's requirement, we did our Lakeland and Daytona stores first and now it's South Orlando's turn," vice president John Mantione told GrowthSpotter. "The expansion is due to our business just continuing to grow in South Orlando. We're out of space and this is certainly worth the investment."
A Development Plan for the building expansion is under review by Orange County planning staff. Construction plans filed concurrently have had their review paused until that DP goes through the Development Review Committee on Oct. 11.
Total investment in the latest phase of expansion is estimated at more than $3 million by general contractor Lamm & Company Partners, which priced it out two months ago and has hired all relevant subcontractors, said project manager Bill Poston.
"It was a bit of a surprise we had to go through DRC, we were planning on starting construction in September," he said. "I now think it will be November before we can get started."
The Fields BMW South Orlando expansion is just the latest in a prolonged wave of local auto dealerships investing in the past 18 months in adding capacity or entire new facilities.
In late May, Boyland Auto Group paid more than $13 million for 23 acres southwest of the Mall at Millenia, with plans to relocate its Mercedes-Benz of South Orlando dealership and later sell its current prime mall frontage.
Orlando Infiniti just north of the mall filed plans in February to add a four-level parking garage to its site. Site work is underway for a new Porsche South Orlando and Ferrari-Maserati of Central Florida on Vineland Road directly west of the mall, and construction is more than 75 percent complete on the new Lexus of Orlando dealership on Major Boulevard, just southwest of the Millenia corridor.
Elsewhere in the Greater Orlando market, online auto dealer Carvana.com has started site work for its glass "car vending machine" dealership tower to be visible along I-4.
Seminole County dealer Headquarter Hyundai wants to build a new dealership along I-4 in Sanford, Starling Chevrolet of Orlando is considering options to build a five-level parking garage next to its dealership in south Orange County, and Peacock Automotive is investing more than $6 million on extensive redevelopment of the former Don Reid Ford dealership in south Maitland that it bought in early February.


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In a bid to bolster innovation within the fintech sector, the Reserve Financial institution of India (RBI) has launched a framework often known as the Regulatory Sandbox, aimed toward offering a safe setting for burgeoning start-ups in India. The initiative seeks to facilitate engagement between the regulator and fintech enterprises, fostering the event of modern monetary merchandise whereas guaranteeing regulatory compliance.
Beneath the Regulatory Sandbox tips, the RBI will collaborate with start-ups to develop innovation-enabling frameworks conducive to the supply of low-cost monetary merchandise. Spearheaded by the fintech division of the RBI, the Sandbox initiative goals to advertise blockchain options and functions in sensible contracts, digital funds, market lending, and knowledge analytics.
Whereas adopting a liberal stance to advertise monetary providers, the RBI has excluded cryptocurrency, buying and selling in crypto property, chain advertising and marketing providers, and preliminary coin choices from the purview of the Sandbox. This strategic choice underscores the regulator’s dedication to sustaining regulatory oversight whereas encouraging innovation in particular areas of fintech.
In response to inquiries from aspiring entrepreneurs, the Finance Ministry has emphasised the significance of adhering to regulatory compliance tips, significantly relating to modifications in possession or management of listed fintech corporations. The ministry underscores the necessity for clear and compliant practices to foster belief and stability inside the fintech ecosystem.
Furthermore, the Sandbox program, designed to run perpetually, affords fintech start-ups an avenue to use for modern options and acquire regulatory approval. By nurturing a conducive setting for experimentation and collaboration, the RBI goals to catalyze the expansion of the fintech sector in India, positioning the nation as a world hub for monetary innovation.
In parallel, the RBI has imposed limits on abroad investments in Alternate Traded Funds (ETFs) as a part of its regulatory measures. Whereas the central financial institution beforehand restricted investments in abroad ETFs as a consequence of industry-level limits, current market fluctuations prompted a short lived leisure of those restrictions. Nonetheless, with the resurgence of the abroad market, the RBI has reinstated restrictions on recent subscriptions in abroad ETFs, efficient April 1, 2024, as a part of its efforts to handle capital flows and preserve monetary stability.
Total, India’s fintech panorama is present process a transformative part, pushed by regulatory initiatives aimed toward fostering innovation, guaranteeing client safety, and selling monetary inclusion. The introduction of the Regulatory Sandbox underscores the nation’s dedication to nurturing a vibrant ecosystem conducive to fintech entrepreneurship and technological development.


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AWS CEO Unleashes Several New AI, Container And Database Services, Including Amazon's First Managed Kubernetes Platform
AWS introduced its first managed Kubernetes service Wednesday at the re:Invent conference in Las Vegas, as part of a flood of new solutions powering databases, democratizing machine learning, and delivering broad capabilities to developers looking to implement video and audio recognition.
Amazon Elastic Container Service for Kubernetes (EKS) is a managed container service that finally adopts the Kubernetes orchestration technology that the industry has standardized on over the last year, said AWS CEO Andy Jassy in a keynote. AWS has long offered Elastic Container Service (ECS) as its native container orchestration and management offering.
"When we launched ECS, there was no broadly accepted orchestration system for containers," Jassy said. That's changed over the last 18 months as Kubernetes adoption ramped.
Jassy said, despite the previous absence of a hosted service, the majority of Kubernetes implementations running in the cloud have been deployed on AWS. Yet "there's work to do" in easing that experience for customers.
EKS "makes running Kubernetes on top of AWS much, much easier," Jassy said. It can deploy Kubernetes masters across multiple availability zones to avoid single points of failure, and gives users control over upgrading and patching.
Complementing the new container offering is AWS Fargate, which allows users to run either EKS or ECS to deploy containers without having to manage servers or clusters.
"It’s a tricky problem. We worked on that for the last year," Jassy said. "People want to run containers at the task level and not the server level."
Database innovation was another big theme in Jassy's keynote.
"The last 20 years have been a very uncomfortable, unpleasant place with the database providers [enterprises] had to use," he said. Some old-guard database vendors—Oracle the only one specifically mentioned—are "folks who don’t care much about their customers," Jassy said.
"Freedom is the ability not to be locked into abusive or onerous relationships," he added.
Amazon Aurora has done a lot to remedy those issues, delivering a database with scale-out architecture, high-performance and high-availability that comes in at a fraction of the price of its old-guard competition, he said.
That database service has been upgraded with multi-master replication scale out capability for both reads and writes, Jassy said. Aurora now can also scale out across multiple data centers, and AWS will add multi-regional, multi-master capabilities in 2018.
AWS also released in preview Aurora Serverless—an on-demand serverless version of the database that automatically scales, further helping customers save on their spend.
It "automatically scales up when database busy, down when it's not, shuts down when not in use at all," Jassy explained.
Other upgrades came to the Dynamo DB NoSQL database that's often used in mission-critical environments.
Jassy announced the launch of Dynamo DB Global Tables, a fully managed, multi-master, multi-region database; and introduced Dynamo DB Backup and Restore, which continuously backs up data and will soon be able to restore to any point in time over the previous 35 days.
AWS also launched Amazon Neptune, a fully managed graph database.
The variety of database solutions illustrates how much that technology has evolved to become more specialized for different use cases.
"You don’t use relational databases for every application," Jassy said. "That ship has sailed."
On the machine learning front, AWS sees the major challenge to be extending the technology to more users by making it less difficult, less threatening, and more transparent, Jassy said.
"How do we turn machine learning into a capability of a few, to one many more people can take advantage of?" he asked. "The hype and the hope here is tremendous."
When measuring overall use, AWS is the leader in delivering that technology, Jassy said, with twice as many customers using machine learning tools and frameworks on Amazon's cloud than any other provider, Jassy said.
Still, its early days for most customers, especially mainstream enterprises.
"All of them want to be using machine learning," he said.
But there just aren't that many machine learning experts in the world.
"We want everyday developers and scientists to be able to use machine learning much more extensively," he said.
To that end, Jassy introduced Amazon SageMaker, an "easy way to build, train and deploy machine learning models for everyday developers."
The service is modular, allowing users to build models, train algorithms, and host them in different environments.
Amazon's underlying machine learning technology has also been applied to powering a new set of audio and video capabilities.
One is AWS DeepLens, a wireless video camera integrated with deep learning hardware and tools. Developers can build computer-vision models for that device by leveraging SageMaker, and use the AWS GreenGrass IoT platform to set triggers on AWS Lambda serverless compute functions.
Jassy also introduced Amazon Batch Rekognition Video, which delivers real-time video recognition. Amazon Kinesis Video Streams improves secure ingestion and storage of those videos, or any time-encoded data stream.
Other new services are Amazon Transcribe for automatic speech recognition and Amazon Translate for artificially intelligent translation of text between languages. Those products can be used extensively to convert audio to text, then translate it into different languages.
But often those products produce reams of text that would take far too long for anyone to read. To that end, the new Amazon Comprehend service delivers fully-managed, natural language processing to cull through large stores of voice data converted to text.


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How many times have you fretted and fumed as your favorite show went into yet another commercial break? Very annoying these commercial breaks aren’t they? How often do you automatically reach out for the TV remote when a commercial break is announced? Yet, recent research indicates that the shows you enjoy are actually being made more enjoyable by the very commercial breaks you have come to detest.
Benedict Carey writes in the New York Times about new research carried out by Leif Nelson and his colleagues. Based on the research findings, Nelson, an assistant professor of marketing at the University of California , San Diego says the commercials make the TV program more enjoyable.
Reading the article makes me believe the same is the case with the many activities we do all through the day. It has to do with too much of a good thing being bad. The joy of an activity increases when you resume it after an interruption. To make an exaggerated point, eating can be fun- but not when you eat all day long.
Likewise, if we are struggling with a difficult task, a break can be very invigorating and we return refreshed to tackle the task at hand.
Variety, as is said, is the spice of life. For most of us an average day has its ups and downs, peaks and troughs. That’s what make living such a joy!


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BMW Teases M3 Touring for Current Generation 3 Series
Long roof enthusiasts rejoice, BMW has announced its first ever production M3 Touring!
To reasons only known by BMW, only the Touring estate variant of its ever-popular BMW 3 series was never given the full-fat M treatment. The best that could be hoped for was for an M sport edition. However, this all changes with the upcoming BMW M3.
BMW has coyly teased that the full M treatment will now be available on the upcoming 3 series Touring variant. Going alongside the M3 sedan and the M4 coupe and cabriolet models, this now completes the M-fication of all the body styles in the 3-er range.
Having an M3 badge on their Touring may not be a big deal for some, but to a near-fanatical cult of enthusiasts who have yearned for a long roof version of this halo performance nameplate for many years now, this day is worthy of celebration.
Although BMW has made Touring versions for two generations of the M5, the E34 and E60, BMW for whatever reason has never decided to put an M3 Touring into production. The closest they ever got was a one-off concept E46 M3 Touring.
In terms of specs of this performance wagon, BMW is still decidedly remaining mum on the subject. That being said, historical evidence points to the M3 Touring to just be an M3 sedan with an extra bit of roof tacked on.
As such, the powertrain for this M3 Touring will most likely be identical to the twin-turbocharged straight-six that is expected under the hood of the upcoming M3 sedan. The usual M3 hallmarks of the signature M fender grilles and quad exhaust would also be making an appearance on this hot estate.
It may not be all good news though as being based on the upcoming M3, the Touring may also be receiving the divisive M3 front end design with that massive grille.
Slated to launch in 2022, the Touring will be the last M variant to arrive with the M3 Sedan and M4 Coupe already set to be launching next month, while the M4 Convertible will be coming in early next year.
More information can be found in the press release below:
How about an extra-large and highly variable luggage compartment in a high-performance sports car? What is presently still a rhetorical question will soon become a concrete offer. A few weeks prior to the world premiere of the all-new BMW M3 Sedan, there are increasing signs of unparalleled model diversity in the range of premium mid-range BMW M automobiles. Together with the all-new BMW M4 Coupe, the new BMW M3 Sedan will be celebrating its world premiere in September 2020. It is also no secret that the new edition of the BMW M4 Convertible is to follow next year. However, attentive observers will soon be able to catch a glimpse of the prototype of a new high-performance automobile. In Garching near Munich, home of the BMW M GmbH, work is being carried out on a further dream-come-true: For the first time in the history of the BMW M GmbH, the model range will be complemented by a BMW M3 Touring.
M-specific performance combined with an increase in available space and the intelligent functionality of a Touring model – this was previously reserved exclusively for the BMW M5. Both in its second generation in 1992 and in its fourth in 2007, the high-performance business sedan was accompanied by a Touring. This is not the first time both the M community and developers at the BMW M GmbH have been fascinated by idea of transferring this vehicle concept to the BMW M3. Exactly 20 years ago, a corresponding prototype was launched based on the third generation of the BMW M3. The then aim of proving that the high flexibility and seamless integration of high-performance sports cars with specific body features could be incorporated into the BMW M3 manufacturing process was achieved. In the sixth generation of the BMW M3, it will not end with mere theoretical considerations and product-technical test series.
The 6-cylinder M TwinPower turbo engine beneath the bonnet has been set. 5 doors and a highly variable luggage compartment are precisely what have been long awaited by fans of this model. As the fourth model variant, the BMW M3 Touring fulfils the hopes of all those who wish to take the M-specific interplay of racing-oriented performance and everyday suitability to the extreme. Never before has a premium mid-range class estate car offered so much driving fun and precision. Nor was there ever more functional utility available in a thoroughbred sports car.
Further speculation on engine and performance is quite welcome. But wide axles, conspicuously large front air intakes and four exhaust tailpipes at the rear leave no doubt that the iconic M DNA will be fully perceptible despite the car’s new body design.
The first BMW M3 Touring is still in the early stage of its approx. two-year series development process. As in the case of other BMW M high-performance sports cars, the following also applies to the BMW M3 Touring: Whenever the prototype has been given the go-ahead for test drives on public roads, it means that the decisive step towards series maturity has been taken. Not only there will it soon be regularly sighted. As with all other BMW M models, the intensive testing and tuning process for the BMW M3 Touring will take place on the Nordschleife of the Nürburgring, because the first BMW M3 Touring is, after all, first and foremost a BMW M3.


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Largest Economies in 2017 (Japan is second largest developed economy after…
Largest Economies in 2017
Balance of Trade
US dominance waning why?
emerging economies growing faster
Trumps hostile tariffs with China(second biggest economy)
US rely to heavy on China
e.g Apple iPhone s could only be produced at such a price in China due to low labor costs
China import aircraft, fuel and pharmaceuticals should they pull out it would be detrimental to US economy
How did China rise to power?
Government owned companies controlling their industries
Foreign MNCs must open fatories in China to sell to Chinese population.
Bank in China controls Yuan to dollar exchange
rates favouring Chinese economi
due to new jobs and growth
leads to better standard of living and education...
only 3.3% below poverty line
China leads now in E-commerce, AI and cyber security
companies such as Huawei, Xiaomi and Lenovo are beginning to challenge Apple and Microsoft
The Made in China PLAN 2025
will catapult the production of clean energy tech,electric cars and cut outdated fuels such as coal and steel
Japan is second largest developed economy after the US.
Dec(2012)-Sept(2017) largest growth since post WW2
which stimulated the economy
Abenomics is split in three:
The Govt inc. or decreasing taxes in order to stimulate growth
Radical monetary Policy
to increase the value of the Yen through the rising of real interest rates.
this involved huge reform cutting corporate tax rates, liberalizing the agricultural and labor conditions aswell as huge deregulation taking place
Tests show the biggest risks to Japan is the appreciation of the yen, downturn of Chinese market and military clashes
How does a labor force of 65 million compete with heavyweights such as the US and China ?
The Car Industry
Japan dominates the car industry with global giants Toyota, Suzuki, Mitsubishi and Lexus
Japanese companies use different methods developing a strategy
This production strategy reduces waste and errors in production maximizing profits
This was achieved through low cost and well engineered vehicles
Specialization in robotics and IT allow Japan to trade for raw material for the country benefiting the economy hugely
IT expected to grow from 9 trillion yen in 2016 to 16.4 in 2019
Whilst superpowers such as the Us rely on oil to power industry Japan have looked to the future investing in green fuels
this has cut costs and will prove much cheaper in the long run


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April 24, 2013
Hong Kong restricts import of poultry products from Lower Saxony, Germany
Hong Kong has banned the import of poultry and poultry products, including poultry eggs, in view of a notification from the World Organisation for Animal Health (OIE) about an outbreak of low-pathogenic H5N1 avian influenza on two turkey farms in Lower Saxony, Germany.
This was announced by the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department on Tuesday (Apr 23) with immediate effect for the protection of Hong Kong's public and animal health.
A CFS spokesman said about 10,000 tonnes of frozen and chilled poultry meat, as well as about 2.8 million poultry eggs, were imported into Hong Kong from Germany last year.
"We have contacted the German authorities over the issue and will closely monitor information issued by the OIE on the avian influenza outbreaks in the country. Appropriate action will be taken in response to the development of the situation," the spokesman said.


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EPA has announced the EPA rating for the Chevrolet Bolt and as expected, the Bolt EV broke the 200miles mark. According to EPA, the Chevrolet Bolt is able to deliver about 238miles on average.
However, urban drivers might be able to get more out of the Bolt. According to the report, the Chevrolet Bolt is able to offer an electric range of up to 255miles in the city. With a range like that, the Bolt is getting close to what the Tesla Model S is offering right now and that alone is impressive enough.
On the highway, the Chevrolet Bolt will be offering about 217miles of range which is pretty impressive as well.
The Bolt will be powered by a 6-kWh battery pack and according to Chevrolet, their customers will need about 9.3 hours, Level 2 charging unit and 240-volt circuit to juiced it up from empty to full.


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“People who drink several cups of tea or coffee a day could be at lower risk of heart disease,” reports the BBC. The news channel says drinking tea could cut the chances of a heart attack by up to a third.
The news is based on a Dutch study that followed 38,000 people for over a decade, looking at their risk of stroke, cardiovascular incidents and death. When examining the association between coffee consumption and events relating to heart disease, the study found that drinking moderate amounts of coffee (two to three cups a day) was better than a little or a lot. With tea, drinking more than six cups a day was linked to the lowest risk.
There have been a number of contradictory research findings about the benefits and harms of caffeine. (For example, the Metro reports that a separate Italian study has recently found an increased risk of rheumatoid arthritis for women who drink tea.) Although the Dutch study is an interesting contribution to the debate, its limitations mean that it cannot prove that coffee and tea have a direct effect on heart attack risk.”
We at International Drug Mart have wide varieties of herbal tea’s for sleep, stress relief, digestion, bowl support, cough, cold, obesity and green tea with rich anti-oxidants. You can find all these tea’s at http://www.internationaldrugmart.com/herbal-products/index.html
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Fleming announced on Monday that it has completed the acquisition of certain assets and inventory of privately-held convenience-store distributor Miller & Hartman South, LLC. Included in the purchase are warehouse facilities and inventory located in Leitchfield, Ky. Fleming paid approximately $4 million for the real estate, fixtures and equipment. Fleming also acquired the existing inventory. The Leitchfield facility currently generates $400 million in annual revenue serving 1,000 customers in 1,800 locations across eight southeastern states.
"This acquisition is yet another example of our strategic move into the convenience-store distribution business," said Mark Hansen, chairman of the board and CEO of Fleming. "The Miller & Hartman business is a particularly good opportunity for Fleming because it expands our reach into important new states, especially Kentucky and Tennessee. And, with $400 million in incremental sales volume added to our current annualized convenience-store business of approximately $2 billion, we believe Fleming is now positioned as the fourth largest c-store distributor in the country with a rapidly growing network of operations." Fleming currently operates dedicated c-store facilities in Pennsylvania, Illinois, Wisconsin, Minnesota, and Kentucky. Additionally, Fleming serves c-store businesses from its full-line distribution centers in Lubbock, Texas and Sacramento, California.


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Competitive Chassis Pools Deliver in the Gulf
Unprecedented container volumes associated with the COVID pandemic continue to disrupt supply chain operations across the country and grab headlines.
For example, Port Houston reported its highest ever level of container volumes in both October and November. Given this, you may have missed the momentous change that the chassis provisioning model in the Gulf underwent just a little over a year ago. The shift away from a third-party managed gray pool model to competitive models like the Direct ChassisLink Pools (DCLP) has delivered for truckers operating in the Gulf providing improved equipment quality, stable pricing, and more reliable chassis availability despite the record volumes. Competitive pools are meeting customers’ needs while supporting the region’s recovery.
A major benefit of exiting gray pools is that chassis providers get to make decisions about their own equipment, including investing in quality upgrades and other improvements to units made available in their own pools. To that end, after exiting the Gulf Consolidated Chassis Pool (GCCP) in 2020, DCLI added 1,000 new chassis to its DCLP pool in support of shippers and their drayage motor carriers throughout the Gulf. “Our decision to exit the GCCP gray pool in early 2020 provided us with an opportunity to upgrade our equipment,” said Ryan Houfek, DCLI’s chief commercial officer. “Making that investment enabled us to better serve truckers across the region.”
Another equipment improvement has had a positive impact on the quality of chassis operating in the Gulf market – conversion from bias-ply to radial tires. IEPs like DCLI have invested millions of dollars replacing these older tires with radials, which are much more durable and better suited for the hot and humid weather truckers encounter in the Gulf. DCLI expects to convert 100% of its chassis operating in the Gulf Port markets to radial tires by mid-2021. The company is ahead of schedule in New Orleans, which reached 100% conversion in January, a milestone welcomed by local truckers. “By switching from bias-ply tires to radial tires we have noticed considerably less service calls on the tires since the tire upgrades were put in place,” said Joseph Landweline, owner and president of Landwerlin Trucking. “(These upgrades have) allowed us to run our business more efficiently with the end result being more profitable.”
Competitive chassis pools also enable IEPs to better manage chassis supply, in particular when the supply chain is stressed as it has been with the freight volume increases that have persisted throughout the second half of 2020 and into early 2021. Equipment managers work directly with customers to evaluate volume forecasts then use that data to reposition chassis across the nationwide network to ensure that chassis are available for moves where they are most needed.
“When confined to a third-party managed pool, we lose the ability to manage the condition and location of our equipment to best serve our customers’ needs,” said Ron Joseph, DCLI’s chief operating officer and EVP. “Under the DCLP model, our fleet team has the flexibility to manage the quality of the equipment and see where our chassis are needed most then pull the levers to reposition chassis between markets as container volumes dictate.”
All of these factors make the job of supplying chassis more efficient and cost effective for IEPs like DCLI. This fact is evidenced in the daily rates that truckers pay for the use of pool chassis. While third-party managed gray pools have some of the highest daily rates in the country, DCLI’s market rate in the Gulf remains low and has held constant since 2019. “Because we manage the pool directly,” said Houfek, “we have better control over the equipment and lower operating costs, making this type of operating model beneficial for both DCLI and our customers.”
While others in the industry promote “open choice” under the third-party managed pool model, the truth is that only the competitive pool model gives truckers a true choice among equipment providers. With our ongoing focus on equipment safety, quality, and availability in our DCLP pools, DCLI is committed to improving the way that chassis operate in the Gulf and being motor carriers’ chassis partner of choice.


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Company to close at least 100 Sears, Kmart stores
NEW YORK (AP) – After a disastrous holiday shopping season, the parent company of Sears and Kmart will close at least 100 stores to raise cash – a move that sparked speculation about whether the 125-year-old retailer can avoid a death spiral fed by declining sales and deteriorating stores.
Sears Holdings Corp., a pillar of American retailing that famously began with a mail-order catalog in the 1880s, declared Tuesday that it would no longer prop up “marginally performing” locations. The company pledged to refocus its efforts on stores that make money.
Sears’ stock quickly plunged, dropping 27 percent.
The closings are the latest and most visible move by Eddie Lampert, the hands-on chairman who has struggled to reverse the company’s fortunes.
As rivals Wal-Mart and Target Corp. spruced up stores in recent years, Sears Holdings struggled with falling sales and perceptions of dowdy merchandise.
Some analysts wondered if it was already too late, questioning whether the retailer can afford to upgrade stores as it burns through its cash reserves.
The sales weakness “begins and some would argue ends with Sears’ reluctance to invest in stores and service,” Credit Suisse analyst Gary Balter wrote in a note to clients.
“There’s no reason to go to Sears,” added New York-based independent retail analyst Brian Sozzi. “It offers a depressing shopping experience and uncompetitive prices.”
Sears and Kmart were both retail pioneers. Sears’ catalog and department stores were fixtures of American life stretching back to the 19th century before being hurt in recent years by competition from steep discounters and by missteps that included forays into financial services and the decision to sell off a lucrative credit card business.
Kmart helped create the discount-store format that Wal-Mart Stores Inc. came to dominate.
Some customers complained that they have a hard time connecting with the Kmart and Sears of today.
Preschool teacher Sara Kriz, picking up hair conditioner at a Kmart on Tuesday in Manhattan, said she used to shop at Kmart often but now goes there only once every few months: “Only when I have to,” she said.
“It seems easier to go to Target and Wal-Mart to get the same thing at the same price,” Kriz added. “The stores are cleaner and they’re better stocked.”
Sears Holdings has watched its cash and short-term investments plummet by nearly half since Jan. 31, from about $1.3 billion to about $700 million.
The projected closings represent only about 3 percent of Sears Holdings’ U.S. stores. And the company has actually added stores since the Sears-Kmart merger in 2005. It has about 3,560 stores in the U.S., up from 3,500 right after the merger, thanks to the addition of more small stores.
But the company hinted that more closings could be on the horizon as it focuses on honing the better-performing stores.
The store closings were expected to generate $140 million to $170 million in cash as the company sells down their inventory. Selling or subleasing the properties could generate more money.
Spokesman Chris Brathwaite said the company had not determined which stores would close or how many jobs might be cut. He disputed speculation that the company will have problems surviving, noting it still has $2.9 billion available under its credit lines.
“While our operating performance has not met our expectations, we have significant assets,” including inventory, real estate and proprietary brands like Kenmore and Craftsman, Brathwaite said.
Still, the company’s announcements were grim. In addition to the closings, it announced that revenue at stores open at least a year fell 5.2 percent for the eight weeks ended Dec. 25, a crucial time because of the holiday shopping season.
Kmart’s layaway program, meant to help cash-strapped customers buy presents by paying for them a little at a time, faltered as Wal-Mart and Toy R Us introduced or expanded competing programs. Sears stores reported softer sales of home appliances, usually a strength.
The company predicted that fourth-quarter adjusted earnings will be less than half the $933 million reported for the same quarter last year. It also expects a non-cash charge of $1.6 billion to $1.8 billion in the quarter to write off the value of carried-over tax deductions it now doesn’t expect to be profitable enough to use.
Part of Sears Holdings’ problem is the weak economy that is hurting virtually all retailers that cater to low- and middle-income shoppers, who are being forced to cut back on spending.
But both Lampert and Lou D’Ambrosio, who was named CEO in February, have said the company needs to keep up with the changing retail landscape, where shoppers are going online for convenience and finding better prices on their smartphones even once they’re in the store.
Andrew Jassin, at clothing consultant Jassin Consulting Group, said his clients that sell to Sears aren’t limiting orders, but they’re watching to see what steps the company will take next.
“People are generally questioning the survivability long-term,” Jassin said.
Hedge fund manager Lampert engineered the combination of Sears and Kmart in 2005, about two years after he helped bring Kmart out of bankruptcy. Skeptics criticized the combination as the marriage of two weak companies that would only hurt each other.
But both stores were once giants.
Sears, which started with a lone Minnesota watch seller in 1886, helped define the mail-order catalog industry, selling shoes, clothes, guns and even ready-to-assemble homes to farmers across the country.
Kmart, which started as a five-and-dime in Detroit in 1899, once commanded a retail empire that included Waldenbooks, Borders, OfficeMax and Sports Authority before spinning them off. A long sales decline and an ill-advised price war against Wal-Mart led to its 2003 bankruptcy filing, which let Lampert gain control of the company.
Analysts and investors were initially enthused by speculation that Lampert was combining the companies to unlock the value of their real estate. But years passed without a big move to do that – and commercial real estate values took a painful hit in the Great Recession.
Lynn Crosbie, shopping at a Sears store in Portland, Ore., said she wasn’t surprised by news of the closings.
Crosbie said she goes to Kmart for stocking stuffers and was disappointed this year by messy, understaffed stores.
“The quality has gone downhill,” she said, looking around the nearly empty store. “Even the cashiers aren’t as happy or friendly.”
Associated Press Writers Anne D’Innocenzio in New York and Sarah Skidmore in Portland, Ore., contributed to this report.
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Penang's Hotel Royal In George Town To Shut Down Indefinitely In November
Since the beginning of the pandemic, we've seen too many businesses being forced to shut down in Klang Valley and popular tourist spots like Melaka. Sadly, the latest business to announce its closure is the iconic Hotel Royal located in central George Town, Penang.
While the closure may not be a permanent one, the hotel's general manager Amran Taib said they will be closed indefinitely for restructuring, citing the Covid-19 pandemic as the reason why. “We might reopen or we might not. Things will be decided if the economy bounces back after this or if we are able to get things back on track,” he said.
However, the closure would affect over 90 of the hotel's staff members, who have been given retrenchment notices. Amran added that the affected staff members will also be given proper compensation and retrenchment benefits according to the collective agreement.
The Singapore-owned hotel will be closing its doors after 14 November. But the closure will not affect operations at Penang Plaza, which is an annexe building adjacent to the hotel.


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New Delhi: Braving the slowdown in consumption demand, e-commerce major Amazon India is eyeing 50 per cent more sales in the festive season this year. The company, which is starting its mega festive sale from September 29 to October 4, is expected to showcase lakhs of products in various categories, including 5,000 products in large appliances and furniture categories.
“As we have overall over 200 million products in our basket in all categories, we generally have 1.5 times sale year-on-year basis. So we hope over 50 per cent more sale this year than the previous year. We will add lakhs of products this year in which 5,000 new products would be in large appliances and furniture categories,” Amazon India Director (Large Applian-ces and Furniture) Suchit Subhas told Financial Chronicle on Monday.
Kicking off the first road show in the capital, the senior officials of Amazon India said they would hold similar shows across regions.
“Despite the demand slowdown, I don’t see any negative effect on consumers as brands are lining up new products for the festive season ahead with cheaper and affordable rates,” Subhas said, adding that Amazon expects maximum customers to come from smaller cities and towns this time.
It is learnt that mobile brands like Samsung, Xiaomi and OnePlus and large appliance and TV makers will launch their products on Amazon’s platform.
“Varieties of products, both high-end as well lower priced items are in the queue from reputed brands. We expect these brands will sell using our platform and this festive season, like Diwali, will prove to be a far bigger one for us,” he said.
Amazon is upbeat about its furniture business. “Customers typically look to upgrade their homes in the festive season. We have added more than 60,000 products this year to offer the largest selection of furniture,” he said.
“Around 25 per cent of the company’s furniture buyers use finance schemes like no-cost EMI. Over 65 per cent of sales are coming from customers beyond the metros, from cities such as Nasik, Raipur, Vellore, Udupi, Kota, Kollam and Palakkad,” he said.
He said the company now delivers goods within 48 hours in the top 10 cities and within two-three days in the top 25 cities....


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Image Source: Burgess Rawson
The fast-food chain KFC has announced that it will be replacing products containing lettuce with cabbage because of a shortage following recent floods in Australia.
In a website post, KFC Australia said, “We’re using a lettuce and cabbage blend on all products containing lettuce until further notice.” The post also explained that the floods in Queensland and New South Wales caused the destruction of the crops.
With the recent lettuce shortage, many of the company’s branches are affected, particularly in Tasmania, Australian Capital Territory, and Victory. Several of KFC’s bestsellers like the Zinger Burgers and Crunch Twister wraps will use cabbage now instead of lettuce.
To avoid the inclusion of cabbage, customers can simply ask their server not to add it in.
Food shortages have become a common problem among nations, with the catalysts being the pandemic and the ongoing strife between Russia and Ukraine.
After many countries banned exporting their agriculture and essential products, there was a subsequent shortage of global supply in key ingredients used by most companies like wheat, rice, sunflower seeds, gas, and oil.
To add, climate change adds to the threats to the world’s food supply. Over recent months, countries around the globe have experienced warmer temperatures which have led India, one of the biggest wheat exporting nations, to ban exports due to heat stress on crops.
There have been some shortages in the supply of KFC’s basic and important ingredients. Currently, the heavy rains have destroyed much of the lettuce produce from farms; this means they can’t serve some menus with lettuce. Earlier, the company also had to put up with a shortage of chicken.
In recent months, KFC Japan has also been met with a shortage due to shipment delays on potatoes which have caused the company to temporarily halt selling their famous fries.
KFC U.K. has grounded their milkshakes this summer because there’s been a shortage in supplies too.
However, KFC is not the only company seeing these issues. Other companies are also experiencing shortages because of the pandemic and stricter export policies. Businesses like Taco Bell, Chick-fil-A, and Nando’s were hit hard by the effects of war and the pandemic.
Opinions expressed by CEO Weekly contributors are their own.


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Vintage Investment Partners, Verizon Ventures, Maersk Growth, PepsiCo and NTT DOCOMO Ventures Join Top Tier Investors Backing Wiliot’s Postage Stamp Sized Compute Device
Vintage Investment Partners, Verizon Ventures, Maersk Growth, PepsiCo and NTT DOCOMO Ventures join the other top tier investors backing Wiliot’s postage stamp-sized compute device.
This latest investment round brings Wiliot’s B Round of funding total up to $70m as Wiliot preps for mass production of its battery-free Bluetooth sensor tags, powered by recycling radio waves.
SAN DIEGO, Feb. 18., 2020 – One year on from revealing the very first engineering samples of the Wiliot chip behind closed doors at the National Retail Federation show in New York, Wiliot was demonstrating this technology in action at NRF 2020 in its own booth and on the stands of Avery Dennison, SATO Corporation and Aruba, a Hewlett Packard Enterprise company.
“We have come a long way in the last year” said Tal Tamir, CEO of Wiliot. “Twelve months ago, conditions had to be perfect for the very first tags to work. Now we demonstrate Wiliot tags on bottles of wine, boxes of pizza and on envelopes. We are understanding how these tiny sensors embedded into products and packaging can change the way things are made, distributed, sold, used and recycled. By having a multiprocessor compute engine that powers itself, we have the security and flexibility to bring sensing and connectivity to things that previously couldn’t be connected to the Internet of Things. Privacy is key if you are to connect products to the internet and nothing short of a system of this kind can make sure only the right people can see this information.”
This latest investment round was led by Vintage Investment Partners and will provide the resources for Wiliot to support its customers’ pilot projects and the growing development of Wiliot’s Cloud components. Alan Feld, Founder & Managing Partner of Vintage Investment Partners said “Investing in Wiliot was a clear choice considering the huge market for and disruptive power of their technology. They bring an experienced team with a proven ability to execute, as we saw when we invested in the founders’ previous company”.
Wiliot Cloud enables IoT applications integrated with billions of products to scale. It is also key to managing security and privacy. A machine learning component delivers ‘Sensorless Sensing’. This eliminates expensive, bulky, on-tag sensors, by shifting the analytics to a cloud system that can learn and improve over time.
Wiliot is running an early access program as part of an invitation only, controlled release of pre-production versions of the product with over 20 world leading brands.
“Entrepreneurial partners like Wiliot are part of PepsiCo’s ongoing global effort to work collaboratively with startups as we advance our ambitions to become faster, stronger, and better,” said Jim Andrew, Executive Vice President, SodaStream, Beyond the Bottle, and New Ventures, PepsiCo. “Wiliot’s deep technology solution offers numerous use case possibilities, including the potential to better serve our partners by getting the right product, to the right place, at the right time.”
"Wiliot's technology will create an expansive opportunity for how products are tracked and industries are managed,” said Merav Rotem Naaman, Managing Director of Verizon Ventures. “The company’s cloud-connected, battery-free Bluetooth tag enables a process that is more cost-efficient and consumer-centric, connecting new classes of ‘things’ to the internet - at scale.”
“As a pioneer of a new category of battery-free Bluetooth sensor tags, Wiliot has the potential to significantly grow the opportunity for connectivity services for a much bigger Internet of Things and this has a high affinity for the NTT Group’s IoT business initiatives. Since we expect it can contribute to creating new values, we decided to invest in Wiliot” said Takayuki Inagawa, President and CEO, NTT DOCOMO Ventures.
“We see technologies like Wiliot’s as being part of a shift in the way supply chains are organized”, said Rasmus Winther Moelbjerg of Deloitte. “Historically, production and distribution were driven by forecasting models that could often be wrong. We see a future where ‘demand signals’ that communicate using existing infrastructure in real time from the store and even from consumers’ homes as they use products. By having an active compute element built into products and packaging that can sense temperature and usage while securely managing a unique digital ID for each product, there is the potential to run much leaner supply chains, consumption based business model, that reduce capital employed and carbon footprint while delivering a better experience to customers.”
Vintage Investment Partners, Verizon Ventures, Maersk Growth, PepsiCo and NTT DOCOMO Ventures join previous Wiliot investors including: 83North, Amazon Web Services (AWS) Investment Arm, Avery Dennison, Grove Ventures, M Ventures, Norwest Venture Partners, Qualcomm Ventures LLC and Samsung Venture Investment Corp.
For more information and additional media assets, including video, photography, a blog on the development and future of the product and an interview with Wiliot R&D staff, go to www.wiliot.com/press.


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Home fragrance brand Yankee Candle International has announced two appointments to its Executive Leadership Team.
Led by president John Fontanta, the new appointments are international finance director Cathy Mayor, and director of international distributors Larissa Meixner-Adam.
Cathy Mayor leads the finance team, with main responsibilities incorporating financial reporting, transactional accounting, supply chain and financial planning and analysis.
Larissa Meixner-Adam will drive the distributor network and ensure ‘operational excellence with the Yankee Candle distributor team is carried out globally’.
“Yankee Candle is pleased with the depth of knowledge and experience that Cathy and Larissa will bring to our management team,” John Fontana said.
“As we continue to grow across markets including Asia, Middle East, Europe and the UK, these new appointments reflect the expectations we have for a continued rise not only in our level of service but also in our brand awareness.”


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No extra Ikea sleepovers.
The Swedish furniture company has warned its consumers to prevent seeking to sneak into its beds for an overnight snooze.
Ikea stated it has revealed at the least 10 sleepover “incidents” in quite a lot of nations over the past couple of months.
“We enjoy that people are taken with Ikea and want to create fun experiences, on the other hand the protection and security of our co-employees and shoppers is our perfect precedence and that’s the reason why we don’t enable sleepovers in our stores,” the company mentioned in a observation on Thursday.
The Ikea sleepover it sounds as if changed into a thing after two Belgian kids uploaded a video of themselves spending the evening in one of the shops.
After eating some Swedish meatballs — a staple of Ikea dining — the 2 hid in cupboards until after closing time, then spent the evening trying various mattress models, rating them in step with remedy and the standard of jumping they supply.
The clip has been viewed 1.8 million instances on YouTube and sparked a wave of copycat videos.
One such video presentations three British teenagers getting arrested for trespassing. “we are in a deep s***,” certainly one of them is heard as saying.
CNNMoney (London) First printed December 22, 2016: 6:48 AM ET
newest financial news – CNNMoney.com


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VANCOUVER, Wash. – Burgerville is closing one of its oldest locations.
The Vancouver-based chain says the building on SW Canyon Road in Beaverton has been determined to be near the end of its useful life.
They’ve served burgers there since 1969. The final day of operations will be June 16th. Employees are invited to re-apply at other locations.
HERE IS THE PRESS RELEASE:
VANCOUVER, Wash. (May 15, 2019) — Today, Burgerville announced that its location at 11900 SW Canyon Road in Beaverton will be closing on June 16, 2019. The company has leased this space since July 1, 1969, and after careful evaluation has determined that the building is near the end of its useful life. Due to ecological considerations and wetlands conservation, a major remodel of the location is not possible.
“It has been an honor to serve the Beaverton community at this site for the last 50 years, and we appreciate the decades of support we’ve received from generations of Burgerville fans,” said Beth Brewer, Senior VP of Operations at Burgerville. “We look forward to welcoming our guests at our other nearby locations at Scholls Ferry & Allen Blvd, and on NW 185th Avenue at Walker Road.”
The central Beaverton location, adjacent to the Beaverton Town Square shopping center, was one of the company’s oldest operating restaurants. Forty-one Burgerville restaurants will continue to serve guests from Centralia, Washington, to Corvallis, Oregon, offering fresh, locally sourced burgers and fries, as well as seasonal specialties from around the region, like Walla Walla Onion Rings and Fresh Oregon Strawberry Milkshakes.
Employees will have the opportunity to reapply at other Burgerville restaurants. For more information, visit Burgerville.com
and follow Burgerville on Facebook and Instagram.
Established in 1961, Burgerville, headquartered in Vancouver, Wash., is an innovative and industry-leading restaurant company with 41 locations throughout Oregon and Southwest Washington. Over 1,500 employees strong, the hometown favorite brings guests seasonal, local food from 989 Northwest family farms and ranches. Burgerville is built on a tradition based in its mission to “Serve with Love.” At Burgerville, the commitment to fresh, local and sustainable values is about helping people and communities thrive.


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By: Thomas I. Likness
Eagle News Service
(Eagle News) — Canada’s inflation rate has dropped to 5.2%, the biggest drop since April, 2020, Statistics Canada reported Tuesday.
But there is little relief for shoppers at grocery stores.
“Food purchased from stores rose 10.6% year over year in February, marking the seventh consecutive month of double-digit increases,” Statistics Canada said in a release.
The agency says several factors are to blame.
“Continuing to put upward pressure on grocery prices are supply constraints amid unfavorable weather in growing regions, as well as higher input costs such as animal feed, energy and packaging materials,” it said.
There was good news for motorists.
Gasoline prices fell 4.7%, the first yearly decline since January 2021.
“On a monthly basis, Canadian drivers paid 1.0% less for gasoline in February amid higher crude oil inventory levels within the United States,” said Statistics Canada.
Prices for fuel oil and other fuels rose at a slower pace.
Year over year, in February they went up 24.3% compared to 36.5% a month earlier.
Shelter costs also rose at a lower rate for the third consecutive month — 6.11% in February.
Mortgage interest costs are much higher. They are up 23.9% because of higher interest rates.
(Eagle News Service)


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The popular online ticket broker, StubHub, has come under fire for changing its refund policy during the coronavirus pandemic.
Robert Griffin told NBC10 Boston Responds he bought his wife tickets to see the Celtic Woman show at the Hanover Theatre in Worcester on March 29 as a birthday present.
"I paid $475 for the two tickets for my wife and daughter to go see it," Griffin said. "Obviously with the pandemic the show ended up being canceled. I contacted StubHub by email on April 16. I got no response. I tried again on May 1. I got no response."
Griffin expected a refund and eventually reached the company by phone.
"The first person said, 'we'll have to wait. It's probably in our cue to be approved for processing,' and I said, 'okay,'" Griffin explained. "I waited a couple more weeks, then the next time I called, and finally got through to them. They said, 'we're not going to give you a refund. We're going to give you a credit. The show got canceled.'
Griffin and three other viewers contacted NBC10 Boston Responds, upset that they can't get their money back from StubHub for canceled shows.
NBC10 Boston Responds
If you’ve been cheated or swindled, NBC10 Boston Responds is fighting to recoup your money.
"It's not my fault, it's not their fault, it happened and I should be made whole again," Griffin said.
NBC10 Boston reached out to StubHub and they said early on in the pandemic they made the difficult decision to default customers in the U.S. and Canada, whose events are canceled, to receive coupons worth 120% of their original purchase value.
In a statement, a StubHub spokesperson said, "With the coronavirus impacting so many events and the associated magnitude of the challenge in recouping monies owed by sellers over the coming months, it is currently impossible for us to offer immediate cash refunds to all buyers."
"I'm 67 years old. I don't go to concerts," Griffin said. "I don't go out to most of the events that agencies like StubHub sell tickets for. I just want the money back."
Griffin was one of 97 people who filed a complaint with the Massachusetts Attorney General's office about StubHub's COVID-related cancellations.
The state has clear rules on refunds and companies can't change their policies after making a sale. Under Massachusetts law, it is considered an "unfair and deceptive trade practice” to "fail to perform any promises made to a buyer in connection with the refund, return or cancellation privileges."
The AG's office said they are in contact with StubHub and urge anyone who believes the company is refusing to honor the cancellation policy that was in effect at the time they purchased tickets, to file a consumer complaint with them.


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Ergon, Mathy roll out new REVIX product
by Wally Northway
Published: December 8,2010
JACKSON — Ergon Asphalt and Emulsions Inc. and Mathy Construction Co. of Onalaska, Wis., announced the award of a patented process that allows for the production and placement of conventional hot mix asphalt (HMA) at reduced temperatures of up to 75⁰ F.
This surfactant-enabled patented process, which is compatible with non-modified, polymer modified and PPA containing asphalt binders was co-developed by Mathy Technology & Engineering (MTE) and Paragon Technical Services Inc., and has been trademarked REVIX.
REVIX will be exclusively marketed internationally by MWV Specialty Chemicals Division’s Asphalt Innovations team as MWV EVOTHERM 3G.
EVOTHERM 3G offers many advantages over other WMA processes including significant energy savings and environmental benefits over conventional HMA, according to the two companies.
“We are excited to have teamed up with MWV to market this technology internationally as EVOTHERM 3G,” said Baxter Burns, executive vice president of Ergon. “This patented WMA additive greatly expands and diversifies our existing product portfolio, with readily apparent value to our customers and the infrastructure industry.”
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Based on accounts in the Sherburne County Star News and the Elk River Star News and compiled by Joni Astrup.
10 years ago
•T. John Cunningham was chosen as Elk River’s new fire chief. He replaced Bruce West, who retired and took a job with the state of Minnesota Homeland Security and Emergency Management. There were 25 applicants for the fire chief position. Cunningham previously was fire chief of the Sound Beach Fire Rescue Department in Old Greenwich, Conn.
•A store operated by Faith in Action and selling used furniture and home decor items opened in downtown Elk River.
25 years ago
•Plans for a Target superstore in Elk River — combining a Target store and a grocery store under one roof — fell through. However, Target was still on track to construct a 90,000-square-foot Target store in Elk River’s Elk Park Center, located north of School Street and west of Highway 169.
50 years ago
•Army Specialist 4th Class Wayde Huso, 20, of Big Lake, was the area’s latest victim of the Vietnam War. He was killed by enemy rocket mortar fire near Saigon on Aug. 13, 1969.
100 years ago
•The Elk River school board delayed opening school by one week because of a busy season on area farms. School boys and girls helped supply the labor to harvest an exceptionally good crop.
•A movement was underway to reorganize the Elk River Band, which “fell to pieces” during World War I when many young men answered the call and went to war.


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A Facebook post asking for help with supplies for Home of the Brave in Milford has given the Veterans transitional residence some relief, but officials there hope for more to restock their cabinets and get them through the holidays and into 2024.
The post on Delaware Free Stuff (Angels Among Us) asked for everyday housekeeping supplies, food items and side items for a Thanksgiving dinner.
They include soaps and detergents, paper products, trash bags, cooking sprays, oil, eggs, milk, bread, spaghetti and other pantry staples.
The need is crucial, said Steve Horn, kitchen manager for Home of the Brave, partly because of limited government support for the nonprofit that helps Veterans transition from homelessness into a more stable life with jobs and a residence.
He spoke for the house because executive director Heather Travitz was out sick.
As of Friday, the house had 14 male residents, five female residents and two children, an infant and a 13-year-old, with a short waiting list for rooms.
Home of the Brave’s supplies tend to go from feast to famine, said Samantha Morris, Horn’s stepdaughter who posted on Delaware Free Stuff.
“It’s full and then it’s not full,” she replied to one commenter. “With 15 men and 5 women they go through a lot each week.”
Horn said one woman from the Felton area bought $100 of towels, washcloths and toiletries on her way to the home to donate.
Some people have been looking at the list and sending items from Amazon directly to the home at 6632 Sharps Road, Milford 19963. Donations also may be dropped off there.
One big donation that came in, said Horn, is 20 turkeys from Procter & Gamble in Dover.
Now, Horn said, he’s hoping someone will be able to donate a chest freezer so he can freeze some of the turkeys and other donations for Christmas and New Year’s dinners.
Canned and other goods can be kept in a supply shed, he said.
The donated household items don’t need to be new, Morris said in the post.
“If anyone is getting ready to throw away items that are in good condition, or replacing items, please look at the list,” she said. “Any local places willing to donate gift cards to clothing stores or food stores will be appreciated as well.”
Home of the Brave allows residents to stay about two years, but many leave in six months to a year, Horn said.
HOLIDAY STORY: Winterthur’s Enchanted Woods, in whimsical gingerbread
The house is outside Milford, essentially in a cornfield, Horn said, where they can all see the stars without light pollution of more populated areas.
“A lot of these residents find a lot of peace and serenity in this environment, because it’s quiet,” Horn said. “On a clear night, the stars will burn your eyes. It’s so beautiful here.”
The 30-year-old organization works to connect the Veterans with services they need and may not have known about or could not access.
Staff members take them to appointments for those and also to doctor’s appointments and job interviews while working to find the training, housing and jobs, Horn said.
It’s been humbling and gratifying that people care about what happens to the Veterans in the house, Horn said.
Betsy Price is a Wilmington freelance writer who has 40 years of experience, including 15 at The News Journal in Delaware.
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Sun City residents will be able to purchase tickets to lifestyle services events from the comfort of their homes when the Community Association debuts online ticketing July 1.
"This exciting new service is all about convenience for our residents, many of whom might be too busy to make it to the lifestyle services desk to buy a ticket to a show or event," said lifestyle services director Jackie Merritt.
This allows residents to purchase tickets from any computer with internet access, whether they are a few minutes down the road or across the country visiting family.
The process of purchasing tickets online is similar to any other event ticketing website. Residents will first need to log in to www.SunCityHiltonHead.org with their member ID and password and click the "eTickets" button on the right-hand side of Resident Central. This will redirect the user to the online ticket sales website, where they may then choose the event they would like to attend. The website will explain if there is a ticket purchase limit for each particular event.
If the show has assigned seating, residents will be able to choose their section, row and seats. Some events, such as outdoor events and Saturday Nightlife shows, are general admission and will not have seating charts.
The process is completed with credit card or debit card and billing information, which is security protected on the website. Customers have seven minutes to complete the process. Otherwise, the tickets are released for other residents to purchase. After the purchase is confirmed, tickets will be emailed or can be picked up at will call when the doors open at the event.
Online ticket sales will debut at 8 a.m. July 1 with tickets for Jeremy Davis and the Fabulous Equinox Orchestra, coming to Magnolia Hall on Aug. 24.
Residents can also buy tickets in person using the same online ticketing system at the kiosks located at the lifestyle services desk in Pinckney Hall. The second online ticket sales event will be at 8 a.m. Aug. 1, when tickets for the Carolina Swing dance, coming to Pinckney Hall on Sept. 29, go on sale.
"By selling tickets to a Magnolia Hall show and to a dance in Pinckney Hall, we feel this will allow the lifestyle services department time to evaluate the online ticketing process and gather feedback from residents before offering more events for sale on the website," Merritt said.
The goal is to offer the majority of lifestyle services events for purchase online by September. Tickets for Movie Nights and Matinee Movies will remain for sale at the Magnolia Hall box office one hour prior to the event.
There are two opportunities for residents to learn how to use the online ticketing system before it goes live July 1.
A training website is currently available by logging into the community website and clicking the "eTickets Training" button. This interactive guide to the online ticketing process allows the user to learn how to purchase an event ticket online without having to provide any credit card or billing information.
Residents can also receive one-on-one computer assistance from 9 a.m. to noon every Friday in the Pinckney Hall lobby.
For more information about online ticketing, see page 24 of the June issue of SunSations and stay tuned to eNews Weekly and the Lifestyles eNewsletter.