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Highly concentrated markets are bad for consumers and bad for investors
Market power that’s concentrated in the hands of a few big companies is bad for consumers, bad for productivity and terrible for investors, says Merryn Somerset Webb.
More than half of the packaging rubbish mucking up the UK's beaches and rivers comes from ten companies. That's the conclusion of research from marine conservation charity Surfers Against Sewage.
One-quarter of it comes from Coca-Cola and PepsiCo alone, with Mondelez International (owner of Cadbury), McDonald's, Nestl and Suntory pretty close behind.
This has caused some outrage and no end of demands for behavioural change. Not only must all of us get a grip on our own rubbish disposal, says the charity's chief executive, but the "companies must invest more in the redesign of packaging [and] alternative ways of product delivery".
All quite right, of course. But for investors the ugly piles of branded litter suggest something else: that the markets for not-very-good-for-you processed foods and drinks are incredibly concentrated too concentrated for those of us who believe that competition is the route to successful capitalism. If they weren't, there is no way that ten companies could account for 50% of litter.
Other research backs this up. The latest issue of the Barclays' Gilt Equity Study notes that in the US in particular "aggregate and industry-level measures of market concentration have risen sharply since the millennium". This is not just confined to the technology sector, since the same study found increased concentration in 75% of the sectors it examined.
Andy Haldane, chief economist at the Bank of England, notes that if you use the extent to which companies are able to mark up prices as a proxy for market power, you can see something similar across the G7 economies. Since 1980, average mark-ups have risen significantly in every G7 country, by between 30 and 150 percentage points. Those mark-ups are concentrated "among internationally-operating firms, who perhaps benefit disproportionately from global network economies of scale and scope".
In almost any sector you will find that the rise of the platform business, the global nature of the production process and the effects of low interest rates have combined to produce a couple of very dominant companies, which it is almost impossible to challenge.
Why does it matter?
Back to Barclays. "Companies with market power can extract additional profits by raising prices, suppressing wage growth and discouraging market entrants," it says. Such companies can also just buy out new entrants if they look like they might be a threat. But that's not all. This rise in concentration can also reduce investment and hence productivity too. If you control a market your incentive to improve your systems or product is limited.
Once that has happened, it begins to affect the wider economy and then public policy. Mr Haldane notes that "when companies have a significant degree of market power, the level of output produced is likely to be below the social optimum, creating an incentive for monetary policy to try to offset that by running the economy hotter [being biased towards inflation]".
All this isn't just theoretical. It is happening in practice too. Barclays has a new measure it is using to look at whether concentration is hitting competition. It uses three metrics: investment, labour share (how much of the GDP pie accrues to workers relative to capital) and business dynamism (measured by the number of new businesses and flotations and how often employees move both geographically and between companies).
All of these metrics have declined since 2000, in sync with the rise in concentration. Job churn has fallen 20% since 2000, for example. There are other causes of some of these things demographics affect dynamism but still, the more a sector has seen rising concentration, the sharper the declines have been. The more powerful companies are, the less they pay, the less they invest and the less dynamic and innovative they appear to become.
This might have been bad news for workers. Over the past decade some of the world's biggest companies have effectively become labour monopsonies (a single powerful buyer that controls the market) as the marginal buyer they set the price and set it low. The share of national income that goes to labour (as opposed to capital) in the US has therefore been falling, from 64% in 2000 to 56% by 2016. Seeing as it hasn't fallen below 60% since at least the 1940s, that's a big deal, and an obvious driver behind recent concerns about income and wealth inequality.
It has not necessarily been bad news for investors. If you hold the kind of firms we are talking about here you will have reaped significant rewards already. This kind of thing shoves up profit margins and seems to keep them there.
Note that while analysts constantly expect average profits of, for example, S&P 500 firms to fall a bit, they never seem to. Nine out of ten companies have reported their first-quarter results so far, and average earnings are up 2.2%, against analyst forecasts suggesting a fall of 2.5%. This is one of the reasons everyone frequently gives to justify very high stock market valuations: if margins are never going to revert to the mean, why should stock market prices?
The trouble for investors
The problem for investors, at least is that after many years of paying no attention at all to this stuff, politicians are suddenly focused on it and are even talking about doing something about it.
There is talk of increasing the scrutiny of mergers and acquisitions and of much tighter antitrust legislation. One of the odd things of the past decade has been a fall in antitrust activity even as concentration has risen, says Barclays. You might also see more of the kind of regulation around data and infrastructure sharing that forces big firms to share the resources that keep them dominant. Or you could see a rise in taxation in an attempt to remove from big firms the outsize profits they make from the monopsonies.
Tariffs could be part of this. Force the firms that have made such hay out of globalisation to bring their supply chain home, says Charles Gave of Gavekal, an investment research firm, and they will have to compete for labour in the tight US market. That re-localisation will change the whole dynamic, eventually restoring "the long-lost conditions of optimum economic growth", he says.
All this might sound complicated and uncertain, and it is. But there is a clear message from it. The superstar firms of the past few decades might soon begin to get the beginnings of their comeuppance. Ten years ago, you might have been wise to buy the firms with the brands that created the most beach litter. Today, you should look for those that create less rubbish and those that, with a little regulatory assistance, will be their new competitors.
This article was first published in the Financial Times


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Microsoft has announced its new Bounty program, which will offer big bucks in exchange for your reports on bugs.
The news comes from the Microsoft Security Response Center, who are looking for people to “help identify security vulnerabilities” within the Xbox network.
“The Xbox Bounty Program invites gamers, security researchers, and others around the world to help identify security vulnerabilities in the Xbox Live network and services and share them with the Xbox team. Qualified submissions are eligible for bounty rewards of $500 to $20,000 USD,” said Microsoft.
If you happen to uncover a pretty intense bug, the company adds that “higher awards are possible, at Microsoft’s sole discretion.”
Check out the full list of bounties right here.
In other Xbox news, an industry analyst has spoken out about the coronavirus, explaining it could delay the launch of the upcoming PlayStation 5 and Xbox Series X. Both consoles are expected to be dropping in time for the holiday season this year, but the widespread virus could have a massive impact on the launch.
The coronavirus has now killed over 600 people across mainland China, and the video games industry is one of many that’s struggling with the pandemic.
Business Insider reports that the financial services company, Jefferies Group, has now issued a warning to investors that the next generation of console gaming could face delays.
“The video game sector is currently manufacturing, or beginning to, a once-in-several-years’ product generation change for the 2020 holiday season,” Jefferies Group said.
“If [company] shutdowns exceed a month or so, game schedules will be delayed. New consoles may likewise suffer supply issues from a prolonged disruption, ahead of their Fall 2020 planned launches.”
The company went on to add that as much as “30-50% of art creation in western games is done in China,” while nearly 100% of the manufacturing takes place in China.”
As concerns over the deadly coronavirus grow, the World Health Organisation has issued the following statement: “WHO has been working with Chinese authorities and global experts from the day we were informed, to learn more about the virus, how it affects the people who are sick with it, how they can be treated, and what countries can do to respond.”
Featured Image Credit: Microsoft

domain: news


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Craftzero, a dedicated one-stop-shop for artisanal non-alcoholic beers, wines and spirits from around the world has launched in Australia.
Founded in Sydney by veteran alcohol distributors Marc Naggar and Sherif Goubran, the e-commerce site is on a mission to revolutionise the way people consume alcohol and inspire a healthy lifestyle with mindful drinking.
Sourced from craft breweries, small-batch distilleries and family wineries, Craftzero offers a selection of beverages that hero organic and natural ingredients, including non-alcoholic craft beers, wines and small-batch spirits that are low carb, gluten-free, sugar-free, sweetener-free, vegan friendly and zero calories.
Sherif Goubran, Co-Founder and Director of Craftzero, said, “The alcohol-free market is set to grow exponentially over the next few years. Even prior to the onset of Covid-19, Australians were making the shift to a healthier lifestyle and enjoying non-alcoholic beverages. With higher quality products, better options available to consumers and easier accessibility, more and more will be making the switch to non-alcoholic drinks – without being judged.”
With a wide selection of artisanal non-alcoholic beverages available, the site has no minimum order requirements and provides free shipping over $150 Australia wide. Craftzero will also be donating $1 to a chosen charity partner for that month with every order placed.
For more information, go to craftzero.com.au


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Apple CEO Steve Jobs met with US President Barak Obama alongside other tech leaders such as Google's Eric Schmidt and Facebook's Mark Zuckerberg last night, as scheduled. White House Press Secretary Jay Carney said:
“The president specifically discussed his proposals to invest in research and development and expand incentives for companies to grow and hire.”
Any guesses what the cheers was for?
Amazon adds HomeKit support to its Eero routers
Now you can have more fine-grained control over HomeKit stuff that's connected to the internet.
iPhone 12's rumored 802.11ay WiFi might be for Apple Glasses
Reports that the iPhone 12 might contain the 802.11ay WiFi standard has led some to speculate the feature may be geared towards the release of long-rumored AR hardware from Apple.
If Apple Car ever happens it might have hugging, shape-changing seats
Apple patents tons of things and some of those things relate to cars. Or in this case, car seats.
Invest in your iPhone XS with these amazing accessories
The size and shape of the iPhone XS may not be new, but you can still get some hot new accessories to trick out your new iPhone.


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The Wi-Fi Alliance is extending its support for the internet of things (IoT) market with a new brand name for products incorporating low power, long range IEEE 802.11ah technology. “Wi-Fi HaLow extends Wi-Fi into the 900 MHz band, enabling the low power connectivity necessary for applications including sensors and wearables,” the organization says. “Wi-Fi HaLow will enable a variety of new power-efficient use cases in the smart home, connected car, and digital healthcare, as well as industrial, retail, agriculture, and smart city environments.”
- Samsung Money to go live in the US this summer
- Google pilots voice-based payments
- India to open antitrust investigation into Google Pay?
- Metrolinx to let iPhone users top up Presto transit cards via NFC
- Morocco boosts contactless transaction limit by 100%
This article is more than four years old


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It has been on the cards for a while now, but it seems as though the single biggest existential threat to streaming services like Netflix is officially on the horizon. In a recent earnings call at Disney, CEO Bob Iger had some very interesting news to report about Disney’s long-rumored streaming service.
Disney+ will launch in the US sometime in “Late 2019”
Disney first announced back in the summer of 2017 that it would be launching its very own streaming service to rival Netflix. Since then, however, news on the service itself has been slow. The only real info we knew was that Disney will be pulling its movies from other streaming services. This includes all Disney and Pixar movies but also films and TV shows from the Star Wars and Marvel cinematic universes.
If you’re a Marvel fan who subscribes to Netflix, you’ll be sad to know that “Ant-Man and The Wasp” will be the final movie coming to the streaming service. Other draws to the new Disney+ service will be the “Captain Marvel” movie coming next year and the eagerly awaited finale to “Avengers: Infinity War,” which still doesn’t have a title. For the binge watchers out there, there is also an upcoming live-action Marvel series that will see Tom Hiddleston back on screen as the god of mischief, Loki.
The other major Disney property that Netflix is losing out on is, of course, “Star Wars.” Although Disney put a halt on its series of standalone “Star Wars” character movies after the mild box office response to “Solo,” it has been pushing ahead with the production of new TV shows based in the “Star Wars” universe.
Jon Favreau is currently deep into production of “The Mandalorian,” a show named after a character somehow related to the infamous bounty hunter, Boba Fett, and Diego Luna is set to reprise his role as Cassian Andor in a series following his exploits pre-Rogue One. Both series will now be Disney+ exclusives.
— Star Wars (@starwars) November 8, 2018
There is no news yet about pricing of the Disney+ service but you can sign up here to receive updates from Disney.
In worse news for Netflix, Disney is also planning a huge expansion of Hulu.
Disney owns 60 percent of Hulu, thanks to its acquisition of 21st Century Fox. In the same call mentioned above, Iger talked about pumping more money into Hulu’s content production budget, which is currently less than half that of Netflix, and possibly looking at making prices more competitive as Disney considers an international expansion of the service.
There is no doubt that Netflix has quickly established itself as the king of all the streaming services. It currently spends about $8 billion a year on creating Netflix exclusive shows and movies and many have gone on to become both fan favorites and critical darlings. With Disney coming at it from two different directions, however, Netflix is going to be put under some serious strain in 2019. This could get interesting.


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NASHVILLE - With ticket sales skyrocketing, lottery officials have increased the soaring Mega Millions jackpot from $550 million to an estimated $586 million for tomorrow’s drawing. (Cash value is $316.5 million.)
As jackpots rise to this level, the Tennessee Education Lottery encourages those who want a chance to win to avoid the rush by not waiting until the last minute to purchase a ticket and, above all, to play responsibly as it only takes one ticket to win.
Tickets for the big drawing must be purchased by 9:45 p.m. CT/10:45 p.m. ET Tuesday, Dec. 17.
The current record U.S. jackpot is $656 million, shared by players in Illinois, Kansas and Maryland on March 30, 2012.
About the Tennessee Education Lottery
The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. Net proceeds from sales of Lottery tickets, currently averaging over $6.3 million per week, fund specific education programs, including college scholarships and after-school programs.
Since the Lottery began selling tickets on Jan. 20, 2004, it has raised more than $2.8 billion for these programs. In addition to the educational beneficiaries, players have won over $6.5 billion in prizes and Lottery retailer partners have earned nearly $706 million in retailer commissions.
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WUXI, China—China's Jiangsu General Science Technology Co. Ltd. has set up a research, sales and international trade office in the U.S.
The company, General Rubber North America, is registered in Georgia, but the subsidiary's office is operating, for now, in West Covina, Calif. The office will move to an as yet unspecified city in Georgia, once the personnel are ready, the company said.
JGST—producer of the GS and TBB truck tire brands—did not say how the new office will affect or interact with its U.S. sales company, Statewide Tires Inc. of West Covina.
The new company opens with a registered capital of $2.5 million, down from "up to $5 million" when the plan was first announced in August.
The Wuxi-based company recently disclosed it was increasing the investment budgeted for a truck and bus tire capacity expansion by 20 percent to nearly $230 million and said a year ago that it planned to add passenger tires to its product range.


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A brief timeline of Google's expansion
Google has already scanned 10 million books in its bid to digitise the contents of the world's major libraries, but a copyright battle now threatens the project, with Amazon and Microsoft joining authors and publishers opposed to the scheme.
In focus p20
Paul Lamplugh still feels the pain of losing his daughter Suzy in 1986. His advice to the father of Claudia Lawrence, who vanished this year, is to never let her be forgotten


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Amazon Prime reaches more than 100 million members, CEO Jeff Bezos says
Amazon.com Inc. Chief Executive Jeff Bezos said the e-commerce giant has exceeded 100 million paid Prime subscribers and will continue to invest to meet “ever-rising” customer expectations.
Bezos noted the milestone in his annual shareholder letter, published Wednesday. The letter is the founder’s opportunity to underline his long-term strategy for investors, seeking to bolster their confidence as he continues to plow Amazon’s money into expanding internationally, building a brick-and-mortar presence and inventing products such as Echo speakers and the Alexa voice-activated digital assistant.
Bezos cited Amazon’s continued high marks from independent surveys, including the American Customer Satisfaction Index, as evidence that the company continues to invent new ways to satisfy customers, giving them new things they didn’t realize they wanted.
“You cannot rest on your laurels in this world,” he wrote. “Customers won’t have it.”
The CEO also said that in 2017, Amazon shipped more than 5 billion items with Prime worldwide and more new members joined Prime than in any previous year. He added that 2017 was the best year for hardware sales and that the company will continue to invest aggressively to expand its customer base, brand and infrastructure.
Amazon shares rose 1.5% in extended trading after the letter was published.
Investors aren’t drawn to Amazon for its profits. The company’s margins have been slimmer than 2% since 2011. They’re investing instead in Bezos’ ability to push into new markets and find fresh sources of revenue, which jumped 31% last year to $178 billion. Amazon shares are up almost 70% in the last year, nearly five times the gain in the Standard & Poor’s 500 Index.
Amazon has a big lead in cloud computing, a profitable and fast-growing market. The Seattle company is building an advertising business to capitalize on its consumer web traffic. And it’s betting the Alexa voice-activated platform will become the next wave of interactions between people and devices, supplementing the computer mouse and touch-screen interfaces.
The company also faces new threats. President Trump has complained that Amazon doesn’t pay its fair share of taxes, alleging it is hurting traditional retailers, and says it gets a sweetheart deal from the post office — and if that complaint leads to new Postal Service package rates, that could drive up Amazon’s delivery costs. Also, Amazon is locked in a costly price war with Walmart Inc. as the two retail behemoths fight for dominance of the $800-billion grocery business.
To maintain investor faith, Bezos always includes his 1997 shareholder letter to remind them of his ability to foresee the way the internet would change the nature of shopping. He also offers anecdotes, like him driving to the post office in his Chevy Blazer and dreaming of owning a forklift one day, to recall how far the company has progressed.
As the world’s wealthiest man, Bezos’ strategy and outlook have developed a cult-like following similar to that of Warren Buffett, whose annual letters to Berkshire Hathaway Inc. investors are must-reads for those looking to understand the economy and Buffett’s investment strategy. Buffett now ranks third on the Bloomberg Billionaires Index, behind Bezos and Microsoft Corp. founder Bill Gates.


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According to people familiar with the case, Stripe Inc. will no longer process payments for President Trump’s campaign website following the riots at the Capitol last week.
The financial-technology company manages card payments for millions of online businesses and e-commerce platforms, including Mr. Trump’s campaign website and online fundraising mechanisms. People said that the Presidential campaign is cutting the campaign to violate its policies against promoting violence.
A spokesman for the Trump campaign did not immediately respond to a request for comment.
Stripe asks users to agree that they will not accept payments for “high risk” activities, including illegal violence or damage to persons or property for any business or organization “according to their website” Includes to provoke, promote or celebrate. .
The company has previously disabled accounts in the wake of violent incidents. After a gunman killed 11 people in an attack on a Pittsburgh synagogue in 2018, Striped cut off Gab.com, a right-wing social-media platform where the alleged shooter posted anti-Semitic messages.


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Even venture firms that invest in enterprise technology are facing the challenges of founders who want to build a startup for cheap and then check out when Google or Facebook come calling with a $20 million or $30 million payday after a couple years in. Speaking at the Structure 2015 event Thursday, Rachel Chalmers of Ignition Partners called this mindset a new filter function and said the industry needs to start talking about it.
“If you don’t want to spend 10 years building the startup and are happy to take the $30 million … then maybe don’t take venture capital,” Chalmers said.
The other venture capitalists agreed that economics of building a company were so different now, that in some cases they were changing their model to provide less capital and more expertise to founders whose primary costs of building a business were the amount of money it took to pay the people needed to build the product, according to Charles Beeler of Rally Ventures.
Of course the ease of building an enterprise software product could backfire, since most of these companies start out with one idea that could look more like a feature, and thus could be easily obliterated by one of the cloud giants. Chalmers spoke of her annual ritual of walking the floor after the keynote speech at AWS ReInvent, the Amazon (AMZN) user conference, and seeing “how many people were crying at their booths.”
The sense from the three venture firms onstage (most of whom dealt with enterprise investments in the cloud computing arena) was that it require a lot less capital to build something interesting. Not only that, it was much harder to build something that was interesting to a wide swath of the corporate customer base as the divide widened between those with cloud expertise and those struggling to achieve cloud expertise. It’s no wonder that VCs were frustrated by the gobs money that the giants of Silicon Valley were willing to pay when they backed a great idea that had the potential to go the distance.
It made me wonder if Google (GOOG) or Facebook (FB) has already snatched the next Salesforce or CloudFlare out from under corporate buyers with a fat payday early on.
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Cars Tagged - GT Racing
2019 Lamborghini Huracan Super Trofeo EVO Collector3
Lamborghini Squadra Corse have presented the 2019 edition of their Huracan Super Trofeo EVO in collaboration with prestigious watchmaker Roger Dubuis.
1968 Ford GT40 Le Mans17
Remains, to this day, the only car designed and built entirely in the United States to claim an overall win at Le Mans.
2020 Mercedes-AMG GT36
Ready for the 2020 season, Mercedes-AMG have given a glimpse of their revised GT3 challenger.
2020 Audi R8 LMS GT25
Audi has revealed a new customer racing version of the R8, this time specced out to compete in the newly re-instated GT2 racing series.
2020 Mazda 3 TCR6
Mazda has released a new customer race car ready for the TCR regulations.
2020 Ferrari 488 GT3 Evo14
>Ready for the 2020 international GT championships is the new Ferrari 488 GT3 Evo, a refinement of one of the most successful cars in the marque’s history.
2020 McLaren 620R27
Move over 600LT, McLaren have revealed the 620R.
2021 Porsche 911 GT3 Cup14
More power and better aero for the first 992 generation Porsche 911 built only for the track.
2021 Audi RS3 LMS8
The second generation Audi RS3 LMS is an entry-level, inexpensive customer race car that is ready for TCR racing.
2022 Nissan Z GT50017
Nissan’s new Z car will go racing in Japan’s Super GT series for 2022, replacing the ageing GT-R.
2022 Lamborghini Huracan GT3 EVO223
Lamborghini’s Squadra Corse racing department have released the EVO2 spec of their Huracan GT3 racer.
2023 Ferrari 296 GT312
Ferrari’s latest GT3 challenger has been revealed, and it features a few new tricks up it’s sleeve.
2023 McLaren Artura Trophy9
McLaren are set to launch their own one-make series pro-am championship featuring the Artura Trophy race car.
2023 Porsche 911 GT3 R19
Tis the season for racing car reveals, as Porsche Motorsport unveils their newest 911 GT3 R race car.
2022 Mercedes-Benz AMG GT3 Edition 5510
Celebrating 55 years of AMG is the extremely limited edition GT3 Edition 55 race car.
2023 Nissan Z GT422
NISMO have given the Nissan Z a GT4 makeover, with the race car set to go racing for the 2023 season.


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Deep-fried Twinkies coming to a Walmart near you.
Hostess and Walmart are teaming up to bring you a delicacy that previously could only be found at Texas state fairs- the deep fried Twinkie.
The revolutionary new Twinkie will reportedly be available exclusively at Walmart, at least for the first year, but that shouldn't come as a surprise to anyone. Deep-fried Twinkies were made, specifically, for Walmart.
The new and improved golden, battered, cream filled sponge cakes will be stocked in the frozen foods section, so stoners will have to put in a little effort upon retrieving this little slice of heaven, unless they prefer their deep-fried Twinkies to be served ice cold.
The only thing missing is the star spangled banner inscribed on the front of the box because this new junk food is as America as America gets.


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Midtronics, Inc. Names SigmaTron International, Inc. Supplier of the Year
Willowbrook, IL, January 27, 2017 – Midtronics, Inc. named SigmaTron International, Inc. its Supplier of the Year during inaugural Supplier Day events hosted at the company’s Willowbrook, IL global headquarters this week. Elk Grove, IL-based SigmaTron manufactures PCBAs and electronic assemblies. Awards were also presented to Nameplate Panel & Technology (Carol Stream, IL) as Most Collaborative Supplier and Welch Packaging (Countryside, IL) as Most Improved Supplier.
Midtronics, Inc. Named One of Chicago’s Top Workplaces
Willowbrook, IL, November 15, 2016 – Midtronics, Inc. has been named a 2016 Top Workplace by the Chicago Tribune, based on the results of an employee feedback survey administered by independent research firm WorkplaceDynamics, LLC. The evaluation placed a strong emphasis on Organizational Health, divided among the four sub-categories of Alignment, Effectiveness, Connection, and Management. Midtronics scored well in all four of those categories and particularly well in Connection and Management.
Midtronics Introduces MCC Charging Platform to Support Vehicle Delivery Quality & Networked Applications
Willowbrook, IL, November 1, 2016 – Midtronics, Inc. today introduced the MCC-070 Controlled Charger — the first product entry in the new MCC charging platform. The MCC-070 offers safe controlled charging to quickly service different battery types (regular lead-acid, AGM, EFB, Li-ion), app-driven charging routines, and wireless connectivity to support tracking and management of battery service data and automated software updates.
Midtronics Recognized as Chicago’s Most Innovative Company
Willowbrook, IL, October 7, 2016 – Crain’s Chicago Business has released its annual “Eureka Index” with Midtronics, Inc. topping the list as the Chicago area’s most innovative company. Midtronics also landed the #1 spot in 2014 and has been in the top 5 on the list four times and in the top 10 every year since Crain’s began its annual “most innovative companies” feature in 2012.
Click to view archived press releases
Midtronics, Inc. Promotes Four Senior Executives to Vice President Roles
Willowbrook, IL, May 5, 2015 – Midtronics, Inc. President and CEO Steve McShane today announced the promotion of four senior executives to vice president positions, effective immediately. “The promotions recognize significant contributions to the company’s success, a demonstrated high level of leadership, and ongoing commitment to Midtronics values,” said McShane.
Midtronics Appoints Jim Solari to Board of Directors
Willowbrook, IL, January 6, 2015 – Midtronics, Inc. announced the addition of Jim Solari to its board of directors. Solari has served as president of G&W Electric Company since 2011, leading the company through a dramatic period of sales and profit growth and developing new custom solutions for the power industry. “Jim comes highly recommended for his experience and leadership skill in many of the same markets that Midtronics serves,” said Steve McShane, Midtronics president and CEO. “We look forward to his collaboration and support.”
Midtronics Founder & CEO Steve McShane Named McGladrey Lifetime Achievement Award Winner
Willowbrook, IL, November 20, 2014 – Steve McShane, founder and chief executive officer of Midtronics, Inc. was named the recipient of the 2014 McGladrey Lifetime Achievement Award during the firm’s annual Manufacturing & Distribution Executive Summit. The award recognizes a distinguished Chicago-area business executive who has demonstrated outstanding leadership in business and civic involvement, as well as significant contributions to the community, thereby setting an example for future business leaders.
Midtronics Opens Expanded Headquarters Facility in China
Willowbrook, IL, October 14, 2014 – Midtronics has announced the opening of a new, expanded China Headquarters facility in support of the company’s ongoing commitment to global growth. With a much larger footprint, including a laboratory with drive-in facilities, the new Midtronics Shenzhen Technical Center enables Midtronics to expand its capabilities in the growing China market, while also better serving its existing Asia Pacific customer base. The facility also broadens the company’s technical focus on emerging advanced battery applications and technologies on a global basis and fosters new partnerships in mission-critical stationary power applications.
Midtronics Recognized as Chicago's Most Innovative Company
Willowbrook, IL, April 7, 2014 – Crain's Chicago Business has released its annual Eureka Index with Midtronics, Inc. topping the list as the Chicago area's most innovative company. The rankings are based on an exclusive analysis of patents by Ocean Tomo, LLC, a Chicago-based merchant bank that specializes in evaluating intellectual property. Ocean Tomo's algorithms assess both patent quality and strength, arriving at a total Eureka Index score. The Midtronics score of 171.8 puts its patent portfolio in the top 5 percent of all U.S. patents.
Midtronics Promotes Jason Ruban to Executive Director, Global Sales
Willowbrook, IL, January 20, 2014 – Midtronics, Inc. founder and CEO Steve McShane announced today the promotion of Jason Ruban to Executive Director, Global Sales for the Transportation Division, effective immediately. Ruban will provide leadership for all divisional sales segments and regions worldwide, as well as Customer Service. A 16-year Midtronics veteran, Ruban will align global strategy and services to ensure collaborative efforts and communication in support of quality, innovative solutions for Midtronics customers worldwide.
Midtronics Introduces New Diagnostic Platform: DSS-7000 Battery Diagnostic Service System
Willowbrook, IL, November 5, 2013 – Midtronics, Inc. today introduced the new DSS-7000 Battery Service Diagnostic System at AAPEX 2013. The DSS-7000 answers challenges posed by several new and future vehicles, including capabilities for new battery and system types, new business challenges, and a generation of service technicians familiar with app-based technology.
Midtronics Opens New Stationary Power Division Headquarters
Willowbrook, IL, October 24, 2012 – Furthering its investment in the growing stationary power market, Midtronics, Inc. (Midtronics) has announced the grand opening of a state-of-the-art facility built exclusively for its Stationary Power division focused on that key market. The new Midtronics Stationary Power facility is located at 7133 Monroe Street in Willowbrook, Illinois, USA – just a short distance from the corporate headquarters. This new facility follows the opening of the new Midtronics European headquarters facility in Houten, The Netherlands, in June of this year, and represents the commitment Midtronics is making in the global battery management business.
U.S. Court of Appeals Affirms Patent Infringement Ruling for Midtronics vs. Argus Analyzers/BP Power
Willowbrook, IL, September 5, 2012 – Midtronics, Inc. today announced that the United States Court of Appeals for the Federal Circuit affirmed the original ruling in favor of Midtronics in its patent infringement case against Aurora Performance Products LLC, et al. (Argus Analyzers and BP Power). The U.S Court of Appeals affirmed the original ruling on a "per curiam" basis without opinion, meaning the court found no new or interesting points of law or fact worthy of discussion.
Midtronics Opens New European Headquarters
Willowbrook, IL, January 11, 2012 – Midtronics today announced the opening of their new European Headquarters facility in Houten, the Netherlands in support of the company's aggressive growth strategy. This expansion effort includes major investments in engineering, sales, marketing, and operations to better serve the existing customer base while preparing for expected growth opportunities created by start-stop systems, hybrid/electric vehicles, and new partnerships in mission-critical power applications.
Midtronics Wins Patent Infringement Lawsuit Against Argus Analyzers and BP Power
Willowbrook, IL, August 5, 2011 – Midtronics, Inc. today announced a victory in its patent infringement case against Aurora Performance Products LLC, et al. (Argus Analyzers and BP Power). The decision upholds Midtronics' rights as the inventor of industry-leading technology in battery diagnostics.
Midtronics Appoints C. Richard Panico to Board of Directors
Willowbrook, IL, July 7, 2011 – Midtronics, Inc. today announced the addition of C. Richard Panico to its board of directors. Mr. Panico founded Integrated Project Management, Inc. (IPM) in 1988 and is the firm's current CEO and President.
Midtronics CEO Steve McShane Inducted into Chicago Area
Entrepreneurship Hall of Fame
Willowbrook, IL, February 28, 2011 – Steve McShane, founder and CEO of Midtronics, Inc., was inducted into the Chicago Area Entrepreneurship Hall of Fame. The Institute for Entrepreneurial Studies at the University of Illinois at Chicago chose McShane as a member of the 2011 Hall of Fame class in recognition of his entrepreneurial achievements and lasting impact on Chicago's business landscape.
Midtronics & Mitsubishi Electric Automotive America to Debut MRFID Technology
Willowbrook, IL, February 4, 2011 -- Midtronics, Inc. and Mitsubishi Electric Automotive America, Inc. today announced a collaboration to merge Midtronics MRFID technology and battery management equipment with Mitsubishi Electric's electrical components to generate complete historical service data for batteries, starters, and alternators.
Midtronics Announces RFID License Agreement with Battery Dynamics Group
Willowbrook, IL, November 1, 2010 -- Midtronics announced today a license agreement with Battery Dynamics Group for RFID patents and technology related to battery and electrical component management. Midtronics plans to add these new capabilities to its existing RFID portfolio as they continue to move forward with key customer programs.
Midtronics Introduces Industry's First Battery Analyzer for Hybrid Vehicles
Willowbrook, IL, May 5, 2010 – Midtronics announced today the release of their new HYB-1000 Hybrid Battery System Analyzer, setting the standard for the future of Hybrid battery pack system analysis.
McShane Named Finalist for Prestigious Ernst & Young Entrepreneur of the Year Award
Willowbrook, IL, USA, July 1, 2010 – Based upon his vision that changed a burgeoning industry and a commitment to establish and expand a worldwide business, Steve McShane, founder and Chief Executive of Midtronics, Incorporated has been named a finalist in the annual Ernst & Young (EY) Entrepreneur of the Year competition.
Midtronics Acquires Lynai Data, Inc.; BatteryNet and FacilityWare Products
Willowbrook, IL, USA, March 31, 2010 – Fortifying its leadership position and focus on technology and innovation, Midtronics Incorporated (Willowbrook, Illinois, USA) has acquired the assets of Lynai Data Incorporated (LDI), widely known for its popular BatteryNet® and FacilityWare® data management and reporting automation products.


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THE cost of living as depicted by PriceWaterhouse Coopers (PWC) for a high income family of six rose to $43,2 million a year from $2,3 million (revalued)
PWC noted this week that the main inflation drivers during the period under review were consumables, which went up 2 633% year-on-year, domestic workers, up 2 627%, and personal care which rose by 2 362%.
On a month-on-month basis, domestic workers were up 150%, canned foods advanced 66%, while personal care was 62% higher. Day schooling showed the lowest annualised increase at 729%, followed by air travel on 1 001%.
“The record month-on-month rate for high income earners was 48,9% in September. A high income family now requires $43,2 million a year to live compared with $34,16 million in October, $24,12 million in September and $16,2 million in August,” PWC said.
According to PriceWaterhouseCoopers’ inflation series for November, the high income inflation index rose by 26,5% month-on-month and 1 716% year-on-year.
“High income inflation was running at 1 716% year-on-year in November, having risen by 26,5% from October. It was a slight decline on October figure of 1 736%,” said PWC. It said inflation for middle income earners during the same period was accelerating at 1 966%, a record rate among all 3 categories (high income, middle income and low income).
“Inflation for middle income earners was up 1 966% in the year, having risen 37,5% on the month with consumerables showing the largest annual gain at 2 821%, while medical was the lowest at 1 168%,” PWC said.
In October, middle income inflation was running at 1 612% year on year. Canned foods drove the month-on-month increase, rising 79% from October, while consumerables were up 67% on the month.
A middle income family now requires $18,62 million a year to live the life they were accustomed to, compared with $13,54 million in October, $10,06 million in September and $901 435 in November last year.
Prices for low income earners rose by an average 37,7% on the month and were accelerating 1 658% on the year, more than 200 percentage points up on October’s 1 442%, but below the record 1 773% achieved in July.
“The figure was driven largely by the 2 962% increase in the cost of personal care year-on-year. At 953%, rent was showing the lowest annualised increase,” said PWC.
It said the annual income required at $2,878 million compared with $2,09 million in October, $1,561 million in September, and $163 682 in November last year suggesting that taking the government’s parameters for measuring of inflation, prices rose by 30,5% between November and October, and were accelerating at 1 102% year-on-year.
Meanwhile, the Consumer Council of Zimbabwe’s low-income urban earner’s monthly budget for a family of six were most Zimbabweans fall under has risen from $141 706,79 in October, to 208 714,84 in November reflecting a 47,3% increase.
In US$ terms the Family Basket shifted from US$566,83 in October to US$834,86 in November.
During the month under review notable increases were recorded in Roller Meal which rose by 197,79%, cooking oil by 196,16%, washing bars by 112,12%, rice by 95,30%, salt by 91,05%, margarine by 85,03%, and transport by 50%.
The total cost of the family basket increased at an increased rate by 47,3% in November. In October and September it rose by 26,4% and16,3% respectively.


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Tales are over — at the very least on YouTube, that’s. The Google-owned video web site introduced at the moment that YouTube Tales will probably be shutting down on June 26, 2023, as the corporate goals to give attention to different key areas, like Shorts, Neighborhood posts and stay movies, along with its conventional long-form content material. Creators will probably be alerted to the shutdown by means of numerous channels, like discussion board posts, in-app messages, reminders in YouTube Studio and extra, YouTube says.
As soon as copied by practically each social app, Tales have misplaced traction within the wake of TikTok’s rise. Nowadays, providers are adopting the short-form vertical video format popularized by TikTok as an alternative of the extra ephemeral and informal Tales format.
YouTube isn’t alone in abandoning Tales, both. Netflix in years previous had examined a Tales-like characteristic known as “Extras” in its cellular app the place it shared movies and pictures from fashionable reveals. The streamer later moved on to embrace vertical video with the launch of options like its short-form comedy movies feed “Quick Laughs” and a associated vertical video characteristic geared toward children. LinkedIn additionally deserted its Tales characteristic in 2021. And whereas Spotify not too long ago launched a characteristic much like Tales for artists’ profiles, the app’s bigger redesign is one which prioritizes TikTok-like discovery feeds as its central focus.
First launched in 2018, YouTube formally rolled out Tales to creators with over 10,000 subscribers — however it by no means broadened entry to everybody on YouTube to permit informal, private sharing to essentially take off. The corporate had advised on the time creators might use Tales to have interaction with their viewers in between their extra polished and produced movies for issues like behind-the-scenes updates, vlogs, sneak peeks at upcoming movies, fast updates and extra.
Like Tales on Instagram and Snapchat, YouTube Tales would disappear after a time period — on this case, seven days. It wasn’t attainable to avoid wasting Tales on a creator’s profile the best way you may with Instagram’s Story Highlights, nonetheless.
It’s truthful to say the characteristic noticed restricted adoption, particularly given the success of different engagement instruments like Neighborhood posts, which additionally let creators share fast updates, promote their content material or have conversations with followers. In reality, YouTube basically admits that Tales weren’t working, noting in at the moment’s announcement that, amongst creators who used each Tales and Neighborhood posts, the latter drove “many occasions extra feedback and likes” in comparison with Tales. Entry to Neighborhood posts not too long ago expanded to a broader set of creators, as YouTube dropped the >500 subscriber requirement.
As well as, creators have shifted their efforts in short-form video over to YouTube Shorts. The corporate notes this format has additionally been extra profitable than Tales, as creators who used each, on common, noticed “many occasions extra subscribers” on Shorts than on Tales.
“As Shorts adoption grew on YouTube, we noticed that creators benefited from this new format,” a YouTube spokesperson instructed TechCrunch concerning the adjustments. “Tales are going away so we will prioritize key areas that creators must be profitable. We’ll proceed to put money into serving to creators develop and join with their audiences throughout codecs,” they added.
Along with a neighborhood discussion board publish, creators who continuously use Tales will probably be alerted to their shutdown by way of a notification in YouTube Studio, in Assist Middle content material, and YouTube will remind creators concerning the adjustments in an upcoming Creator Insider video, the place it commonly publishes updates. Plus, there will probably be a notification immediately in Tales, if creators entry the characteristic previous to June 26.
On that date, it should not be attainable to create a brand new YouTube Story, however Tales which are already stay will stay up for seven days after they have been initially shared, YouTube says.
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To contribute to this effort, IVA’s Food subproject has:
- produced a first proposal for a national framework to establish how lost and wasted food should be defined, how companies in different parts of the food supply chain should measure and report their data on this and how it can be done in a way than allows all the data to be compiled at the national level;
- participated in the development of a national platform where companies in the food supply chain will be part of a voluntary agreement on adopting common goals to measure, report and reduce loss and waste of food;
- identified solutions that make it possible financially and in practice for companies throughout the food supply chain to measure and report lost and wasted food.
The project is also presenting proposals for suitable recipients and actors to execute the action plans to reduce the loss and waste of food, and is proposing an ambitious implementation schedule. You can read more about this in the new IVA report on Food.
To the press release!


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Thanks to the Federal Reserve, borrowing costs are down. But the last time I took my vehicle in for service, it cost me well over $1,000 because a few parts had to be replaced. I have a trustworthy mechanic, but it seemed like a lot for what got done.
My insurance bill was up quite a bit from the previous year and what really bugged me was that it was with less coverage. My optometrist, dentist and veterinarian are all charging more for their services. And my plumber, God bless him, swims in his heated outdoor pool in winter with snow on the ground. Point being—I don’t care what any statistic says, there is price inflation in the marketplace right now. More than is being admitted to by the Federal Reserve or comprised in the Consumer Price Index (CPI). And we haven’t even gotten to fuel costs yet.
There is nothing wrong with a little price inflation. The Federal Reserve, like many other central banks, targets a two-percent annual inflation rate, but the big problem is inflation in the face of stagnant incomes. That’s wealth destruction and the Federal Reserve can’t do a thing about it.
Compared to other economies, the U.S. economy has always been good at righting itself after a shock or recession. But now, it really is different. There is little to no financial flexibility in fiscal and monetary policy. The Federal Reserve created the money and it’s been spent. Corporations and Wall Street benefitted significantly, but the average consumer is stuck—and with the bill too.
The headlines show tame inflation numbers, but we all know there’s price inflation out there because it costs more to get to work, eat out, pay your electricity bill, and take the subway. But the real problem going forward is this: the commodity price cycle, which is not over.
The U.S. economy should be able to squeeze out some modest GDP growth this year. But with corporate attrition, cutbacks and limited new hiring, lasting job creation will be challenging. (See “The Fed’s Running the Show and Risk Keeps Going Up.”) This means that income growth should be flat and, with the inflation we already have, purchasing power will continue to erode for a lot of people.
When the commodity price cycle makes its full transition into the agriculture sector, raw material costs are going to go up even more and this means food will become much more expensive. Food and energy—the two most important things that are excluded from inflation numbers.
The only way the Federal Reserve can fight higher inflation is with higher interest rates. They already dropped a hint about ending QE3. So, the very thing the Federal Reserve’s been pining for will soon become a reality. The cycle is going to change, and guess who will be paying for it?


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IoT connectivity and security start-up Nodle, non-profit foundation Coalition Network, and technology solutions company Avnet have announced the creation of a smart wearable contact tracing device, the Nodle M1. The device tracks distance and buzzes employees to let them know when they are too close to one another.
The 5 cm device tracks distance and notifies employees with a buzz when they get too close to one another (less than 6 feet). According to Nodle, the distance is determined with far better precision than a smartphone-based solution, and without the need for location. The system also enables operational (HR) departments to alert anyone who may have been near an employee who has previously reported a COVID-19 infection. To ensure privacy and security, the Nodle M1 provides a rotating random identifier to prevent unauthorized third parties in tracking employees or understanding the size of a company’s labour force.
The Nodle M1 can be clipped to an employee’s shirt or badge or worn as a necklace. The device leverages parts of the open source Whisper Tracing Protocol and is interoperable with the Coalition App, the contact tracing application developed by the Coalition Network.
According to a recent Harvard University White Paper and Johns Hopkins Center for Health Security study, privacy-preserving digital contact tracing tools can help scale manual tracing efforts, reduce the amount of testing needed, and slow the spread of COVID-19. Certain jobs, such as those in warehouses, factories, hospitals, and food processing plants might make receiving digital contact tracing notifications via smartphones difficult.
Micha Benoliel, Nodle’s Co-founder & CEO, said: “In recent conversations with governments and large enterprises, we realised the need for privacy-preserving contact tracing smart devices that can work independently, and without the need for a smartphone. We’ve already received interest from enterprises in the US and Europe for several million units.”
In response, Nodle began working with Avnet to create the Nodle M1 solution to better protect employees and visitors from exposure to COVID-19. Shipments of the Nodle M1 device is due to begin in October 2020.


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Windows Insider program from Microsoft is the way to bring Windows 10 and made it available for all Insiders worldwide. Right now it’ll be great to be an Insider if you want to test the flavor of Windows 10 much earlier than everyone else gets it. Microsoft started pushing Windows 10 Technical Preview just after its initial announcements and yesterday Windows 10 Technical Preview for Consumer has been announced with build number 9926.
As an Insider not only you get the hottest builds of Windows 10 but you can help developers to build the future of Windows 10 by giving your feedback on Windows 10. We’ll be getting the bits of new build of Windows 10 most probably next week as Joe Belfiore announced on the Windows 10: Next Chapter Event. While Windows 10 for Phone will be called as Windows 10 itself and will be rolling for users in February. We’ll be covering more on Windows 10 for phone soon. Stay tuned for more updates.
Already 1.7 Million Insiders are there all over the world, it’s time for you to Signup for Windows Insider.


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The store expansion plans of the full-line sporting goods retailer, DICK's Sporting Goods Inc. (DKS), is gaining pace as evident from the company’s announcement of 3 new stores located in Florida, Alabama and Oklahoma. The celebrations to mark the opening of these stores will commence on Apr 25 and extend over the weekend.
In Florida, the new DICK’s Sporting store will be located at Westshore Plaza in Tampa, marking the opening of the company’s 27th store in the state. The newest store in Alabama will come up at the Colonial Promenade Alabaster, a lifestyle center located at 200 S. Colonial Drive. This store will mark the company’s 11th outlet in the state of Alabama. The company’s third store announcement in Oklahoma will be positioned at the Lawton Town Center in Lawton and will mark the company’s 8th store in the state.
Including these new outlets, DICK’s Sporting’s store count has now increased to 566. As of Feb 1, 2014, DICK’s Sporting operated more than 550 stores in 46 states, 79 Golf Galaxy stores in 29 states and e-Commerce websites and catalog operations.
Offerings at these new outlets will include over 40 suitable in-store services provided by DICK's certified PROS in sports and outlook specialties including Golf, Bike, Fishing and Team Sports.
In order to attract customer traffic to its new stores during the celebration period, DICK’s Sporting announced a range of lucrative giveaways. The company will distribute free Tech T-Shirts manufactured by Under Armour Inc. (UA) to the first 100 people in queue on the opening day and free Mystery Gift Card of value between $5 and $500 for the first 100 people queuing on Saturday and Sunday. Also, the customers who reach early will get an opportunity to open the DICK's Sporting Goods Gift Locker.
Additionally, to entice visitors, the company has invited local celebrities to make special appearances at the new store on the inauguration.
DICK's Sporting has been taking store augmentation initiatives for a long time. In fiscal 2013, the company introduced 44 new stores and closed 3. To date, the company has opened 5 new outlets in the current fiscal, including 2 in Florida and 1 each in Wisconsin, California and Louisiana. Additionally, the company opened a relocated store in Pennsylvania.
We believe that the full-line sporting goods and apparel retailer will benefit from its in-store action and online growth strategies. The company’s in-store remodeling efforts, launch of shop-in-shop facilities and recruitment of more talented sales personnel have boosted top-line growth. Furthermore, the company is aggressively enhancing its e-Commerce capabilities to increase its sales as well as market share in online retailing.
At its annual Analyst Day meet held in late Sep 2013, DICK’s Sporting announced its plans to increase its retail store count to 800 by the end of fiscal 2017 from 518 at the end of fiscal 2012. Further, the company will continue remodeling its existing stores in order to keep them up-to-date and productive.
Moreover, DICK’s Sporting intends to increase its e-Commerce sales to nearly $1.1 billion by the end of fiscal 2017 from $292 million at the end of fiscal 2012.
We believe that the company’s strategic measures of consolidating its store base and the use of technology to provide better services will enhance its relationship with present customers while attracting newer ones and effectively promote its products.
Other Stocks to Consider
DICK’s Sporting currently carries a Zacks Rank #3 (Hold). Other stocks worth a look in the related industry include Barnes & Noble Inc. (BKS), carrying a Zacks Rank #1 (Strong Buy) and Tractor Supply Company (TSCO) holding a Zacks Rank #2 (Buy).