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Macy's closing West Manchester Mall store
Macy's is closing its store in West Manchester Mall in York County. Associates at the store were notified today.
A final clearance sale at the store will begin Wednesday, and will run until late September or early October, Macy's said in a news release. The store will close at that time.
"The closing is part of an ongoing process by Macy’s, Inc. to selectively prune underperforming locations while also opening new ones to fill gaps in local markets across the country," the release stated.
"Macy’s is committed to treating affected associates with respect and openness. Associates displaced by the store closing may be offered positions in other Macy’s stores where possible. Regular full-time and part-time associates who are laid off due to the store closing will be provided severance benefits and outplacement assistance."
About 69 associates work at the West Manchester Mall store, the release said. The store, with 120,000 square feet, was opened as a Hecht’s in 1995 and converted to the Macy’s nameplate in 2006. The company has sold this store location to the mall owner.
After the closing of West Manchester Mall store, Macy’s will continue to operate 36 stores in Pennsylvania, including two in the Harrisburg area.
The West Manchester Mall was purchased for $17.5 million in October by M&R Investors, headed by partners Frank Mihalopoulos and Tony Ruggeri. While many stores remain open, the mall is undergoing a $50 million renovation expected to be completed in 2016.


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New York restaurant's $18 entrée of three roasted carrots
A restaurant in New York City has caused outrage after charging $18 for an entrée of three roasted carrots.
The vegetarian dish at the Northern Spy Food Co. in New York’s East Village comes with wild spinach, freekeh and almonds.
Restaurant-goers told the New York Post the dish was ‘overpriced’ - but co-owner Chris Ronis defended the cost.
Location: The vegetarian dish at the Northern Spy Food Co., pictured, in New York¿s East Village comes with wild spinach, freekeh and almonds
'There’s always the question why one restaurant might have a $6 burger and another restaurant has one for $25,’ he told the newspaper.
‘There’s a lot more that goes into a plate. In our case, the prices come down to the ingredients we use — far more than you would find in another carrot dish — and that includes putting a lot of technique into it, labor time and staff.
‘We would never overcharge. The price is fair.’
Executive chef Hadley Schmitt defended the restaurant's choice of just using vegetables in the pricey dish.
Fair price? The bustling New York restaurant has caused outrage after charging $18 for an entrée of three roasted carrots
'It generally comes down to, "Wow, these carrots taste really good! What can we do with them?"' he told the New York Post.
'We use vegetables more and more because it’s more interesting.
'Vegetables are unique and specific; there’s more differentiation than between proteins. You can’t just swap them out.'

domain: news


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KAMPALA – Courts in the country have embarked on online hearings following guidelines issued by the Chief Justice, Bart M. Katureebe, on April 29 as one of the measures to help the courts function better during the ongoing national lockdown to curb the spread of Corvid-19.
The guidelines entailed under Office Instruction Number 2 of 2020 will ensure timely delivery of judgments and rulings, hearing of bail applications, case mentions and issuance of orders. They also entail how parties relevant to the cases are invited and how they will attend online hearings. Invitations will be done through email, Whatsapp or through the Judiciary’s Online Hearing Tool.
This means that all accused persons who had previously failed to apply for bail due to measures put in place by Uganda Prisons Services can now apply for bail online.
The new guidelines are in line with the laws of Uganda, including the Constitution, the Data Protection and Privacy Act of 2019, the Computer Misuse Act of 2011, the Electronic Transactions Act of 2011 and the Electronic Signatures Act of 2011, as well as court rules and directions such as the Judicature (Video-Audio Link) Rules and the Constitution (Integration of ICT into Adjudication Processes for Courts of Judicature) Practice Directions of 2019.
The hosts for the court sessions will be Judiciary’s ICT Department that will coordinate with each court to identify parties, register their accounts, invite them and guide them on how to effectively participate in the proceedings.
The hearings will be scheduled and as such all participants will be expected to keep time. The participants for online hearings will include; the Judicial Officer handling the case, clerks assigned to the case, advocates of the parties, the parties to a case, the media and any other interested party. The record of proceedings for the online hearings will be generated by the Judiciary ICT Department from the recording done during the hearing.
Signed copies of Judgments and rulings will then be electronically sent to parties as one of the efforts to promote social distancing during the pandemic.


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Chambers Ireland has made a submission to the Commission for the Regulation of Utilities (CRU) asking them to be more flexible in how business consumers are billed as part of Irish Water’s Non-Domestic Tariff Framework.
The CRU has made recommendations that Irish Water should be extremely strict and inflexible with their business customers in two key areas.
Firstly, about assigning and switching tariff classes, and secondly about leaks.
The CRU proposals would see businesses charged on the basis of the previous year’s consumption and upon receiving their harmonised bill these businesses will then have to argue that they should be reassigned to a different tariff.
On leaks, the CRU is seeking to transfer all risks that relate to a premises onto the occupier and would in some cases disallow any rebate for leakage.
Speaking yesterday (20th April), Chambers Ireland Chief Executive Ian Talbot said, “Chambers Ireland has called on the Commission for the Regulation of Utilities (CRU) to amend their proposed regulations which relate to the billing of Irish Water’s business clients.
As part of the move to harmonise water charges across the country, a move that will in its own right increase pressures on a large number of businesses, the CRU is also proposing billing changes which have the potential to gravely affect struggling businesses in these trying times.
There are two principle problems with these proposals.
Firstly the CRU’s proposals will have businesses paying for their water at rates which are based on last year’s usage. With so many businesses closed this will put many businesses into an inappropriate category which will force many businesses to challenge the new charges, a prospect which could bring the harmonisation process into disrepute.
Then, next year, upon resuming business as normal post Covid-19, these same businesses will have to challenge their bills a second time, because 2020’s consumption is likely to be completely unrepresentative.
The second issue is that the Commission is seeking to transfer all the risk associated with on-site water leakages onto the business customers of Irish water. Chambers Ireland believes that the challenges of the ongoing Covid-19 crisis, reveal how inflexible this move is, and how the regulations should allow for circumstances which are outside of the customer’s control.
Across the country, many businesses are not free to maintain, or perhaps even access, their business premises. Key workers may be cocooned. The proposed system is so inflexible that it cannot deal with real world problems.
These problems with the CRU proposals will create an undue burden on businesses which they will have to investigate whether they should be on a more appropriate rate, and will also create the bureaucratic challenge of tens of thousands of customers having to contest their bills.”


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Microsoft has released "A Pixel is Worth 1,000 Words," the sixth installment in a series of video documentaries that showcase the development of "Gears of War 2."
only on 360 ! best art yet.
i believe this video is called is videogames art.
N4G is a community of gamers posting and discussing the latest game news. It’s part of NewsBoiler, a network of social news sites covering today’s pop culture.


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Shortly after the new year, Royal Caribbean will again increase the automatic gratuities which it charges its passengers. Royal Caribbean will hike the automatic gratuities which it adds onto its guests’ accounts (by more than 7%) to $14.50 per person, per day. Passengers who stay in suites will pay even more, $17.50 per person, per
USA TODAY published an article today titled USA TODAY’s Guide to Cruise Ship Gratuity Charges.
This is a topic which we write about quite often, as the cruise lines try to maintain their high profits while building bigger and bigger cruise ships which are getting more expensive to operate.
Any discussion involving cruise ship…


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A well-respected Apple insider suggests that the iPhone SE 2 will look and feel familiar to previous models — and it will be unveiled very soon.
The new iPhone SE 2 will be released in early 2020, and will share the design of the iPhone 8 while running on Apple’s new A13 Bionic chip, reports Ming-Chi Kuo. This is excellent news for people looking for a compact phone, a breed that is sadly facing extinction in the smartphone market of today that’s increasingly dominated by big-screened behemoths. Taking a look at the purported specs, potential customers will have plenty of reason to rub their hands together in anticipation.
Related: Best Phones
The design would be noticeably larger than the previous iteration, as the iPhone 8 measures 138.4 x 67.3 x 7.3mm (with a 4.7-inch screen), while the iPhone SE measures just 123.8 x 58.6 x 7.6mm. However, that’s still more manageable than the iPhone 11 Pro, the smallest model of the latest generation at 150.9 x 75.7 x 8.3mm. It’s expected to have a single rear camera sensor, and an LCD display.
As for the internals, the phone will supposedly pack the same A13 Bionic chip found on the very latest iPhones, along with 3GB of RAM. This should make it a powerful device, as the iPhone 11 and iPhone 11 Pro have scored very highly in our performance benchmark tests in comparison to other devices. Other than these two singled-out changes, the hardware specs will otherwise closely resemble the iPhone 8.
Related: Best iPhones
We expect to see a slight price bump to the current price of £479/$449, but it should still be significantly cheaper than most of Apple’s new devices. Such a dramatic change in Apple’s strategy could well have been influenced by the success of its more modestly-priced iPhone XR last year, or even the success Google enjoyed with its cut-price Pixel 3a handset.


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Source: Australian Food News
According to Datamonitor’s recently launched report, Market Insights: Alcoholic Beverage sales in China – the country which ranked number one globally in volume of alcoholic beverage sales in 2009 – are forecast to reach 61 billion litres in 2014, compared to 47 billion litres in 2009.Several factors have contributed to the immense growth of alcohol consumption in China. Among many, rising disposable incomes and resulting improved lifestyles are considered the most important.
Others, such as increasing consumption among female consumers are fuelling growth in the wine market particularly. The new generation of working women in China is both socially compelled to consume alcohol in order to stay equal in the eyes of their male colleagues and also is more financially independent now to afford the elitist drink.
Saritha Pingali, Datamonitor’s Consumer Markets Analyst and the report author said: “The female fast growing consumer segment may create demand for pre-mixed drinks and fruit-based alcoholic beverages like wines in the Chinese alcoholic beverages market as Chinese women are financially more independent but also believe that wine consumption is good for health and promotes beautiful skin.”
This presents a fantastic opportunity for Australian alcoholic beverage manufacturers and exporters to tap into this huge, growing Chinese market.
In addition, China’s entry into the WTO has ensured reduced import taxes on imported alcohol, which is encouraging an influx of several prominent international brands into the Chinese alcoholic beverages sector. This is allowing consumers to embrace foreign brands reflecting their increased affordability. This is also creating a variety of choice for consumers, thus driving demand for differentiated products.
Saritha added: “Government interference will continue to influence the consumption patterns of alcoholic beverages in China. Baiju, which has been the most favored alcoholic beverage in China, is now threatened by low-strength alcohols being promoted by the government. Effective from August 2009, the government has spiked taxes on high strength alcohols, compelling consumers to choose among wine and beer, which are both relatively low in alcohol contents.
Growing health concerns are driving demand for beverages with low alcohol content and organic alcoholic beverages. Datamonitor estimates that the per capita consumption of still wines (low strength wines), will grow nearly three times faster than that of the overall sector, between 2009-14.
Saritha concluded: “The increasing focus on health could also drive demand for organic alcohols in future. Furthermore, according to Datamonitor China has the fastest growing market for organic alcoholic beverages in the Asia Pacific till 2014.


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General Motors’ announcement Friday that it would halt production of its plug-in hybrid car, the Volt, for five weeks figures to threaten President Obama’s stated goal of seeing a million electric cars in the U.S. by 2015.
- General Motors will temporarily halt production of its plug-in hybrid and lay off 1,300 workers for five weeks this spring.
That goal assumed that the Volt would become the industry leader and that GM would have produced 505,000 Volts by then. Another mainstay of the president’s electric-car plans, Fisker Automotive’s Nina plug-in, is also on hold. The federal government is not advancing new loan payments because Fisker didn’t produce and sell as many of its first-generation cars as it promised.
The government has made several investments to promote the electric car industry, including granting GM $105.9 million to help it produce battery packs for the Volt, and $151.4 million in a grant for LG Chem to produce battery cells for the Volt. The government also gives buyers of electric cars a tax credit.
The company said on Friday it will halt production of the Volt and lay off about 1,300 workers at its Hamtramck, Mich., factory over the next couple of months. The company sold just 7,700 Volts last year, below its 10,000-car target, which was already reduced from 15,000.
GM initially set a goal of selling 45,000 Volts in the U.S. in 2012, but the company needs to work through inventory it built up, as cars are not being sold as quickly as hoped.
The Volt, together with Nissan’s all-electric Leaf, were the first mass-produced cars running on an electric drive to be introduced in the U.S., in January 2011. They were the flagship cars for this budding industry, and to have one halt production is a significant stumble.
The Chevy Volt, some analysts predicted, would be more appealing to consumers than the Nissan Leaf, because it can run on both batteries and on gasoline, preventing chances of being stranded if the battery taps out. It costs $40,000 before the tax credit of $7,500.
The Volt was ahead of the Leaf in the past few months in sales, and hit monthly sales record in December 2011, selling 1,529 vehicles, according to data from investment bank Stifel Nicolaus. Both manufacturers saw sales decline in January and February. Nissan sold 9,674 Leafs in North America last year, and 22,000 globally.
General Motors also suffered from an investigation by the National Highway Traffic Safety Administration over fires in a Volt during crash testing.
The decision to halt production will undoubtedly affect several sectors and companies, from Volt suppliers such as battery-maker LG Chem, to other companies that bet on a fast-growing electrification of transportation.
Several companies, such as Ener1, a battery company that went into bankruptcy, and A123 Systems, a battery supplier to Fisker that is struggling with that car’s high costs and slow sales, are already seeing hopes for a quickly growing electric-car market, at least in the U.S., dashed.
Even as GM halts production, many other automakers are launching new electric models this year. Supporters hope that the initial difficulties are not going to spell the end of the industry in its infancy, which would be a repeat of a previous industry failure. In the 1990s, GM stopped producing an electric car called EV1 because of slow sales


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As per the National Jute Board (NJB) official, jute-based textiles are currently in use in constructing and with the project gaining popularity in Karnataka; the Union Ministry of Textile is planning to promote use of jute geo textiles for construction of rural roads across the country.
Jute geo textiles are absorbent fabrics used as an agent to strengthen the road foundations and prevent soil erosion along the banks. Also Jute textiles are generally 25 per cent cheaper than other fabrics.
However, being bio-degradable, it is low on longevity and is best used in rural or arterial roads, which do not attract heavy traffic.
According to a National Jute Board (NJB) official, jute-based textiles are currently in use in constructing 35 ongoing rural roads, under the Pradhan Mantri Gram Sadak Yojana, across the country.
While majority of the projects are in Karnataka; the practice is gaining popularity in at least three other states, including Odisha, Madhya Pradesh and West Bengal.
Subrata Gupta, Jute Commissioner, said that use of jute geo textiles is likely to move up substantially in the next two years looking at the current development.
According to Gupta, project reports for nine roads spread across five states such as Chhattisgarh, Madhya Pradesh, Odisha, Assam and West Bengal have also been prepared.
Rough estimates available with NJB suggest that consumption of the fabric moved up by 10 per cent a year on an average since 2010.
Of the 80 odd jute mills operating across the country, 13 mills manufacture jute geo textile.
Despite efforts to promote the natural fibre, absence of a regulation for mandatory use of jute instead synthetic textiles and lack of support from local administration pose challenges before the industry.
Also unless there is a mandate, it will be a difficult task to convince various agencies and engineers the benefits of jute geo textile.
In 2010, approximately 60 lakh square metre of jute geo textile was used in road development.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide


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With the pandemic gradually coming to an end, many sectors are expecting significant growth this year, including the automobile industry. Here are a few key automotive trends, which are going to dominate the automotive market this year.
Yes, self-driving cars are not only sci-fi fantasy anymore! As we move forward with technological advancements, newer wonders are being invented every day. A self-driving car does not need a human driver. Instead, it is operated by using sensory techs like sonar, lidar, or radar. It also uses intelligent odometry measurements in order to detect environmental changes, and maintain a safe speed, accordingly. There are 6 professional automation levels in cars, as per TWI Global. The higher the level, the more advanced the tech. Let’s see if the year 2022 can up the level of this incredible automotive tech.
Improved Safety Features
Improved technology calls for improved safety measures. With time, cars are also fitted with more advanced safety features in order to deliver utmost road safety. Adaptive cruise control, lane departure warnings, emergency braking systems, blind-spot detection, electronic stability control, etc. are a few of the top safety techs available. In 2022, potential customers will check their car safety thoroughly, beforehand. According to MotorTrend, the 2021 Mazda 3, Honda Insight, and Subaru Legacy are some of the safest cars on road.
The safety measures of your own car will fall short to anticipate the different actions of other drivers around you. While on-road, a tiny distraction can cause catastrophic damage to a car or even to a life! The advanced technology of vehicle-to-vehicle communication will allow the vehicles within close range to communicate among themselves and react accordingly, keeping the drivers safe. This means your car can change its function while needed, even without your input. This V2C tech works by exchanging messages on information like speed, location, and direction. Obviously, this tech is leading the expectation list of potential car drivers this year.
Peugeot Confirms Successful 9X8 HyperCar Test
Peugeot Sport has recently announced one of the successful testing of the new model 9X8 HyperCar. The testing drive occurred at the Motorland Aragon. Though the team hasn’t come out with any official date of the cars’ debut yet, it has dismissed the speculation of starting as the 2022 FIA WEC season-opener at the Sebring, this March.
The Official Declaration
Jean-Marc Finot, the director of Stellantis Motorsport, has recently made an official statement by saying that, the Peugeot TotalEnergies team is not going to join the first round of the total six in the 2022 racing calendar, scheduled to kick off this March at Sebring, Florida. He also added that the 9X8 model is going to make its racing debut solely on the basis of its readiness, competitiveness, and reliability levels. The organizers of the championship are going to keep a tab of the development program of the model and deliver regular updates on the progression. Peugeot also confirmed that this new car model is testing without any rear wing, which is in its conceptual stage. The finalized version of the car will be submitted for homologation, after a series of continuing test programs.
The Features of the Model
Designed as per the Le Mans Hypercar ruleset of ACO, the 9X8 model features a powertrain, combining a rear-mounted 2.6-liter bi-turbo petrol V6. It delivers power over 680 hp or 500 kW. It also comes with all-wheel drive transmission and a front-mounted 200 kW motor-generator unit. Peugeot Sport, TotalEnergies, and its subsidiary Saft have jointly developed the high-density battery of the racing car. According to Olivier Jansonnie, the Technical Director of Peugeot Sport’s WEC program, the configuration of the 9X8 model is completely permitted by the ACO/FIA hypercar regulations. After homologation, the rudimentary design of the final 9X8 model will be sealed for the next 3 years, until 2025.


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Health department shuts down production at Dov Charney's clothing company, Los Angeles Apparel, after 'flagrant' health violations and death of 4 workers
Los Angeles Apparel refused to comply with public health orders, officials say after more than 300 employees are infected with the coronavirus.
From Sears to TJ Maxx, these were the biggest winners and losers in retail over the past decade
We take a look at who died, survived, and thrived in the retail sector during the most recent decade.
Blockbuster, Borders, Sports Authority, and more: The biggest retail bankruptcies of the past decade
Many of these bankruptcies resulted in mass store closings that have helped send hundreds of shopping malls into years-long downward spirals.
Nike, Old Navy, J.Crew, and others are launching sales to counter China's biggest shopping holiday of the year
Nike, Old Navy, and J.Crew and more all announced sales on Monday, November 11. Here are the deals you can get today.
Millennials' attitudes towards clothing ownership are bringing about a major change in the fashion industry
Renting has become a major fashion trend as younger consumers who crave newness look for more sustainable ways to shop.
American Apparel has a new look created by women, but it's still risqué — here's why
American Apparel aims to empower women with its new marketing, which still features provocative photography.
Kim Kardashian says she wears fast fashion 'all the time' — and she probably shops at the same stores as you
The reality TV star told INSIDER that she likes to mix high and low fashion and talked about where she likes to shop and the cheapest item in her wardrobe.
American Apparel's founder says that 'sleeping with people you work with is unavoidable'
In an interview with The Guardian published Sunday, American Apparel founder Dov Charney said that he doesn't regret any of his relationships with employees.
A store is selling $60 designer shirts with the Kmart logo on them
Rare VNTG, an online store, slapped a Kmart logo on those $4 Supreme T-shirts. Now, they're selling the same shirts for 15 times the price.
American Apparel is now back online — here are the best things to buy
After shutting all of its brick and mortar stores, the brand is back and better than ever with a newly relaunched website.
American Apparel has relaunched online – and it looks exactly the same
The business declared bankruptcy in 2016 was bought by a Candian apparel company in January 2017.
People are finding expensive designer shirts for just $4 at Kmart stores all over the country
Kmart stores are selling Supreme T-shirts for $4 — but for some reason they're trying to cover it up.
American Apparel's disgraced founder seems to be resurrecting his 'dead' brand under a new name
Dov Charney has started a new clothing company that's shockingly similar to American Apparel.
American Apparel's founder had a surprising response when asked if he's having sex with employees at his new company
"I love the company, and I love the people I work with," Dov Charney said. "We’re very close and we’re holding hands and walking through the fire."
13 retailers that are dying and taking the fashion industry with them
As e-commerce grows and mall traffic declines, fashion brands are struggling to keep up — and closing stores across the US.
JCPenney's store closures could push hundreds of dying shopping malls over the edge
A tidal wave of store closures is about to hit the US, and the result could be catastrophic for hundreds of lower-tier shopping malls.
8 retailers that are shrinking across America
As e-commerce grows and mall traffic declines, retailers are struggling to keep up — and closing stores across the US.
American Apparel denies reports that it's imminently shutting down all of its stores
American Apparel won't start closing stores for at least another three months.
Canadian apparel maker Gildan is buying American Apparel for $88 million
The deal is subject to approval from a bankruptcy court on Thursday.
Amazon's rumored bid for American Apparel could solve its Trump problem in one master stroke
Amazon could save thousands of US manufacturing jobs by acquiring American Apparel — and win Trump's support in one master stroke.


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Looks like another collection agency was closed because of the awful ways they try and collect debt. I know someone posted not to long ago about their mom getting a call like this.
For those who can't click.
BUFFALO, N.Y. (WIVB) â€“ The office of Attorney General Eric Schneiderman has shutdown a consumer debt collection agency in Lockport accused of using illegal tactics to make consumers pay up.
Sean Millard, owner of Swanson Walker & Associates, has agreed to close his business at 556 South Transit Road and pay a $10,000 fine.
Schneiderman says state investigators, the Better Business Bureau and the Federal Trade Commission received dozens of complaints about the tactics workers at Millardâ€™s agency were using while trying to collect debt payments.
â€œAttempting to get out of debt is a stressful and overwhelming process that countless consumers struggle with every day,â€ Schneiderman said. â€œTo threaten and bully these individuals is unacceptable and wrong, and my office will keep fighting to hold those who employ these tactics accountable.â€
â€œWe were contacted by consumers who called us, afraid that the sheriff was going to be at the door in a few minutes, executing an arrest warrant, or subject to imprisonment,â€ said Assistant Attorney General James Morrissey.
Schneiderman says debt collectors from Swanson repeatedly broke the law by calling consumers at their place of work, threatening them with arrest or imprisonment, and threatening to freeze bank accounts and garnish wages if they did not make payments.
Morrissey said, â€œAccording to the complaints that we had they said they had already sued the consumer, when in fact that was not true. But they also threatened to sue consumers, and we knew that was an empty threat, too, because they had never sued a consumer in the history of the organization.â€
Morrissey says not only did the debt collection agency call consumers at work, calls were made to neighbors and family members.
The phone number for Swanson Walker & Associates is already out of service, and its website has already been taken down.
The Better Business Bureau has nearly 100 complaints on file for the company. Peggy Penders says the company deliberately avoided local scrutiny, by going after out-of-state consumers.
â€œThey donâ€™t want to deal with consumers that are in their own backyards, so they remove any information that actually has to do with consumers in the Western New York area.â€
Know your rights, when a debt collector calls. The Fair Debt Collection Practices Act is there to protect you, and the Federal Trade Commission offers this guide to help you understand the law.
If you have been harassed by an abusive debt collector or collection agency, you can call the Attorney Generalâ€™s Consumer Hotline at 853-8404.


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Coop Denmark has announced that it has introduced vertically grown salads in 35 large-format Irma stores in Copenhagen.
The retailer has teamed up with vertical farming company infarm for its latest offering – Crystal Salat (Crystal Salad) and Salat Trio (Salad Trio).
The latest rollout follows the success of store-grown herbs, introduced last year in all 69 Irma stores.
'Sustainability And Quality'
Irma chain director, Rikke Wolff, said, "With the latest launch of vertically grown vegetables, we continue the development of our collaboration with infarm and extend sustainability and quality to our customers.
"They have received the products well in the past year, precisely because they live up to the requirements of sustainable production and good taste."
The collaboration between Irma and infarm dates back to the end of 2019.
In 2020, infarm opened a larger production facility in Høje Tåstrup for sowing plants, which are transported by electric cars to grow directly in Irma stores.
Director of infarm, Daniel Kats, added, "Infarm's goal is to make locally produced fresh and sustainable products available to everyone everywhere.
"The collaboration with Irma and Coop has from the beginning been a milestone for infarm in the Nordics, and we look forward to expanding our production in Denmark."
Vegetables and herbs grown by infarm are free from pesticides and chemicals, consume 95% less water, and require 90% less transportation.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.


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Welcome to the afternoon roundup! If it happened in food today, it's news to us. Here are a few stories that have caught our attention.
Food Mergers: Regulators in Washington are voting on the merger of Sysco, the number-one food distributor in the United States, and number two, US Foods.
Festivals: Organizers for Harlem EatUp!, a food festival conceived by Food Republic cofounder Marcus Samuelsson taking place May 15-17, has announced its schedule of events. These include talks, a Sunday street festival and dinners throughout the neighborhood pairing local chefs with national talent. Participating chefs include Carla Hall, Jonathan Waxman, Sean Brock, Paul Qui and Ludo Lefebvre.
Condiments: The world has been blessed with a Heinz Sriracha ketchup flavor, which joins popular jalapeño and Tabasco crossovers.
Media: Longtime Los Angeles Times food editor Russ Parsons has left his position to focus on writing columns. Amy Scattergood takes over.
New York City: Meatball Shop co-owner Michael Chernow plans to open a sustainable seafood restaurant, to be called Seamore’s. He reportedly plans to highlight species from Montauk, including skate, monkfish and porgy.
Apps: The Fridge is a new smartphone app that will tell you when your produce, meat and dairy has gone bad.
Cooking Competitions: Chef Vinson Petrillo of the Zero George Street Hotel in Charleston, South Carolina, has been selected to represent the United States at Expo Milano 2015 in June. Yesterday in New York City, he cooked a course of pressurized octopus and wagyu cheek agnilotti that impressed a panel of judges including Paul Qui, Wylie Dufresne and Amanda Freitag.
Deals: NYC jewel Tocqueville is celebrating 15 years with a special tasting menu. For MasterCard holders, $225 will get you a five-course tasting menu, with tables available for up to six people. Time to get some friends together.


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European financial regulators are seeking to bolster retail investor protection with enhanced, upfront disclosure documents to be used for retail investment products across the securities, insurance, and banking sectors.
The Joint Committee of the European Supervisory Authorities, which includes the region’s banking, insurance and securities regulators, on Wednesday published a consultation paper that proposes new rules on the content and presentation of retail disclosure documents, known as Key Information Documents (KIDs).
Once the content of the new documents are finalized and implemented, they will provide retail investors with “consumer-friendly information” that will enable them to understand, and compare packaged retail investment products across the EU, regardless of whether they are offered by banking, insurance or securities firms, the regulators say.
The paper sets out detailed requirements for the KIDs including: document layout; risk disclosure and the methodology for assigning risk indicators; possible performance scenarios; and cost disclosure, among other elements of the new regime. The new disclosure documents will have to provided to investors before they make an investment decision, the consultation paper notes.
“Today’s consultation is a major step forward for the EU’s retail investors by setting out clear proposals on the contents of the KID, which are aimed at improving safeguards and transparency around investment products,” said Steven Maijoor, chair of the Joint Committee and head of the European Securities and Markets Authority (ESMA), in a statement.
“The KID, once implemented, aims to safeguard retail investors’ interests by ensuring they receive sufficiently clear, concise and understandable information to allow them to make better informed investment decisions,” he added.
The regulators plan to hold a public hearing on the proposed new disclosure documents in Frankfurt on Dec. 9. The deadline for feedback on the consultation is Jan. 29, 2016. Firms will be required to start using the new documents by Jan. 1, 2017.


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Blockbuster Continues to Close Columbus Area Stores
Five Columbus-area Blockbuster locations are scheduled to close their doors for good. Information obtained from a Blockbuster representative that wishes to remain anonymous stated that the affected Columbus locations are on Georgesville Rd, Cemetery Rd., and E. Broad St. In addition to the Columbus locations, stores in Johnstown and Heath will also be closing up shop.
The E. Broad St. and Johnstown locations stated that their final day would be March 18th while the remaining gave a less definitive time frame but indicated their locations would close by the end of March. When asked if they would be able to transfer to another Blockbuster location employees indicated that Blockbuster Corporate were “Doing the best they can to transfer staff.”
Blockbuster was acquired by Dish Network in April 2011. After years of losses the long struggling company did turn a $3.3 million profit in late 2011 after its initial round of closings and the expansion of its OnDemand and DVD-By-Mail service. Unfortunately Dish CEO Joe Clayton announced earlier this month that there are still many stores not turning a profit and stated, “There are ones that aren’t going to make it. We will close unprofitable stores. We will close additional stores.” At its peak Blockbuster operated over 4,000 locations in the United States alone while the company now operates somewhere between 500-600 locations.
Some area stores have already stopped renting but will continue to accept returns while they attempt to liquidate stock that is not being transferred to other locations that are staying open.


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Historical analysis of economy in the 1950s the 1950s through the lens of economy skip to navigation when khrushchev came to visit america. Historical analysis of economy in the great depression policy implications even today—have america's economy during the great depression became a. Americas economy add to myft add to myft digest add this topic to your myft digest for news straight argentine president is first latin american leader to. Find the united states economic freedom report the increase in its overall score would seem to indicate that the decade-long decline in america’s economic. All latin american countries are facing a challenging economic climate, but it’s not all doom and gloom in 2016. Find the economic latest news and headlines, as well as blogs and video from cnbccom. The us economic outlook is the good news for the economy is that it will occur in healthcare and other forms of social assistance as the american. Historic charts of the us debt and personal savings rates national debt today, the united states of america is in debt $16 trillion as of time of writing, and climbing.
Schedules for news releases economy at a glance font size: share on: united states - quarterly data data series back data. The economy is getting hotter is a productivity boom next new research from mckinsey suggests that for the economy to become more productive, demand. Read the latest articles and commentary on the economy at us news. Mit economist peter temin’s new book, “the vanishing middle class,” examines america’s shrinking middle class. Economics viewpoint the stock market turmoil was all about good economic news larry elliott published: 11 feb 2018 about 6,910 results for us economy. The economic history of the united states is about characteristics of the british tried to crush the american economy with a many of today's us.
The job of the president on tuesday night is to talk past the gridlock and to convey to the american people the urgency of this economic moment. Baby boomers are what's wrong with america's economy who offered the standard line — you can hear it from the mouth of almost any american politician today. When talking about the americas economy, the submit your article contributions and participate in the world's largest independent online economics community today.
The latest breaking financial news on the us and world economy editor of usa today accused two african-american women of leaving without. We bring you the most up-to-date news about job cuts, bankruptcies, and store and factory closures in america stay tuned to learn more about your neighborhood’s. The latest economy news from the bbc: breaking news on the global and uk economy and international investments including audio and video coverage.
The us economy works through the laws of supply and demand it's managed by the federal reserve and your elected officials today's fed funds rate is 15 percent. Breitbart news put president obama’s claim to the test using eight key metrics of economic health: the federal debt, the gross domestic product annual growth rate.
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Nbc news' in plain sight project on poverty and inequality developed an interactive quiz to find out how americans feel about class now.Download Americas economy today


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Coldwater Schools use local vendors for school meals
Chartwells, which feeds thousands of students in Coldwater Community School each week, has a new focus for the 2011-2012 school year with the “Simply Good” campaign.
The Simply Good program is based on the food choices that students make and how they can have a significant impact on their health, environment and community. Throughout the year, students will be learning the importance of eating locally grown food from Michigan and making purchases from local food producers.
“We are proud that 20 percent of our food served to students comes from local farmers in Michigan, including southern Michigan, as bread comes from Aunt Millies and milk from Prairie Farms,” said Tamara Santora, Director of School Dining Services for Coldwater Community Schools.
To promote healthy foods and lifestyles, there are posters promoting local food in the cafeterias, flyers in the Friday Folders and newsletters.
Demonstrating their commitment to sustainable agriculture and wellness, Chartwells supports “Buy Local,” defined as food grown within a 150 mile radius. Chartwells believes that by supporting local farmers, farms will continue to thrive in local communities, and that future generations of students will have access to nourishing and flavorful fruits and vegetables.
Each week, Chartwell’s feeds over 7,000 meals to students in the school district.
Parents can find nutrition information and menus for lunches at ColdwaterChartwells.tripod.com/.


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Seattle-Based SEO Agency Announces a Winner in the Synnd vs. SocialAdr Debate
July 25, 2012 (PRLEAP.COM) Technology NewsAfter much online debate, a Seattle-based SEO agency, AudienceBloom, has announced a winner between Synnd and SocialAdr, the competing online social signal providers.
In a blog post published on July 10, 2012, AudienceBloom founder & CEO Jayson DeMers breaks down each service across myriad factors, including user interface, number of sites supported, quality of sites supported, social service integration, data exporting, reseller compatibility, and price.
In each section, DeMers includes screen shots of each service along with detailed breakdowns of the data sets used to analyze both services. Of particular interest to SEO and social media agencies might be DeMers' breakdown of the agency (reseller) statistics and compatibility. According to the analysis, the two services have comparable agency features, which may come as a surprise to agency client managers.
The analysis continues with a detailed breakdown of Twitter, Facebook, and Google+ compatibility across the different providers, assigning a slight edge to SocialAdr. Each service is also broken down by which social sites are supported, in which it's made clear that one provider offers higher quantity and quality than the other.
"Mostly we wanted to break down the two services for our own purposes," DeMers says. "But the results actually surprised us, so we wanted to publish them so others could take advantage of our research. We also hope each service uses our findings to improve their respective offerings, since we appreciate the service that both providers are offering."
"Social signals are playing a larger and larger role every day in SEO," DeMers says. "But business owners often don't have time to create them; they have businesses to run. SocialAdr and Synnd offer excellent alternatives for these types of entrepreneurs and small business owners."
While AudienceBloom has historically been associated with SEO services, the changing trends in the SEO industry have pushed AudienceBloom to roll out new service offerings focusing on social media marketing. "You really can't have true SEO without a social component anymore, "DeMers says. "Our goal is to provide a low-cost, 100% managed online marketing solution for our clients, and we believe offering social media marketing services is the best way to do that."
According to DeMers, the Synnd vs. SocialAdr study was performed in line with these new service offerings. "We want to make sure we provide the entire scope of services necessary for our clients to succeed in the online marketing space in this day and age," DeMers says.
As for the winner between Synnd and SocialAdr? "You'll just have to visit the blog to find out!" DeMers says.


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With the caveats of wheeling and dealing far away that come with online buying most of the time and the risks inherent in a near-anonymous local service like Craigslist, people have been going to groups on Facebook to buy and sell locally for quite some time. According to Facebook’s data, about 450 million people engage in the practice these days. Facebook has announced that they’re rolling out a tool to help those looking to buy and sell in their area to be able to do it quicker and easier than before. Where users were before limited to the buying and selling group that they posted inside and had to manually fill in most of the fields for posting in said group, such as location and the arrangement of the photos, this new tool will make some of the process easier and let users spread their listing further than before.
The tool, which will replace the defunct messaging function inside the official Facebook app, can be searched nationwide by all Facebook users in a given country. This means that a user who was previously out of luck when looking in a given regional group or a few groups for a specific item may be able to find that item somewhere a bit further away and either make a road trip or arrange shipping. When users want to search for something, they can filter by location, price, and item category. Interesting finds can be looked into in more detail, or saved for later. Users who want to post something for sale, on the other hand, simply write up the listing, provide a photo or a number of photos by either taking them in-app or grabbing them from their camera roll, then confirm their location and choose a category and price.
Facebook Marketplace is essentially just a communication tool; while you can pay via Facebook Messenger these days, that’s not enough to warrant any kind of protection from Facebook. Indeed, the social media giant is taking a strictly hands-off stance in the use of Marketplace and allowing users to work out item transit and payment completely on their own. Mobile users over 18 years of age in the US, UK, Australia, and New Zealand will find the feature available in the next few weeks, with a desktop version planned for the near future, as well as release in other territories.


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A Vietnamese start-up entrepreneur introduces his smart delivery drone system at a live pitching session in the semi-final of the 2020 Start-up Wheel in HCM City on November 13.
HCM CITY — The top 60 Vietnamese start-ups chosen from thousands of contestants competed at the semi-final round of the 2020 Việt Nam Start-up Wheel contest in HCM City on November 13.
Then the top 10 local start-ups and five foreign start-ups entered the final round on the same day, which had total prizes of VNĐ10 billion (US$431,120).
The foreign start-ups had two minutes to pitch and 10 minutes for Q&A via online format.
Startup Wheel 2020 wants to encourage start-ups to find a ‘silent moment’ to contemplate their business model and evaluate their business efficiency; find the ‘low notes’ to focus on their business’ core values, optimise resources for lean operations, and consolidate their strengths and resources to be ready to grab opportunities when the economy recovers, Trương Lý Hoàng Phi, founder of the Business Start-up Support Centre, said.
The ‘Back to Basics’ theme of the event would help start-ups respond to difficult times, she added.
Organised by the Business Start-up Support Centre and the HCM City Young Businesspeople Association, the event seeks to help young start-ups find investors, consultants and mentors, business partners, and customers.
It also aims to honour Vietnamese and international start-ups who have demonstrated resilience during the Covid-19 pandemic.
Start-up Wheel 2020 is one of the largest and most intensive start-up events in Southeast Asia, with the offline event in HCM City attracting more than 500 investors, venture capital funds, leading corporations, executives from local and foreign organisations that support start-ups, more than 100 outstanding local and international start-ups, and a large number of visitors. — VNS


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Comcast, which is pitching MSOs like Cox Communications the idea of licensing the X1 platform for their cable systems, sees an opportunity to use the Sochi games to demonstrate how X1 could benefit other distributors. Will its strategy draw in other operators or spur competition instead?
DirecTV and Dish Network struck a deal which will see the satellite TV rivals pitch targeted ads to political media buyers working on statewide campaigns.
In a big victory for broadband providers such as Verizon and Comcast, the U.S. Court of Appeals ordered the FCC Tuesday to rewrite network neutrality rules that have prevented ISPs from discriminating against traffic from Netflix and other online video providers.
Cox Communications is deploying its new "Record 6" DVR in about 40,000 subscriber homes monthly, President Patrick Esser said last week at the Consumer Electronics Show.
In a move that could help it compete with mobile video apps from rivals Cox Communications, Comcast and DirecTV, CenturyLink said it is beginning to offer its Prism TV subscribers the ability to stream 25 live TV networks on Apple's iPad and Google Android devices outside their homes.
Netflix is producing the second season of "House of Cards," the original drama series starring Kevin Spacey, in 4K Ultra HD format, Chief Product Officer Neil Hunt said in a story published by Stuff magazine on Wednesday.
Cablevision's Lightpath division said Wednesday that it is beginning to offer its commercial customers a service called Firebar, which can be used during a crisis to quickly set up an emergency audio conference by dialing a single phone number.
Comcast, Time Warner Cable, Cox Communications and other MSOs that use iControl's home automation platform may be able to offer subscribers several new devices through an initiative iControl announced Tuesday, including smart light bulbs, motion detectors and door locks.
NEW YORK--Canoe Ventures struck a deal with Walt Disney Co.'s ABC broadcast network and ABC Family that will see the networks deliver dynamic ads in video-on-demand programming, a top executive at the advertising technology consortium backed by Comcast and Time Warner Cable said here Wednesday at The TV of Tomorrow Show.
Philippe Dauman, Viacom's CEO, said Monday that he expects that a virtual pay TV distributor could launch next year. "I think there's a very strong chance of that," Dauman said at the end of the UBS Global Media and Communications Conference in New York, when asked if 2014 would be the year that a virtual MVPD would finally debut.


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BioWare announced today that the final piece of DLC for Mass Effect 2, “Arrival,” will be available for download on PCs, Xbox 360 systems and the PlayStation 3 on March 29, over a year since the game’s launch. The cost? 560 Microsoft or BioWare Points, or if you’re into a monetary system that actually makes sense – $6.99 on PSN.
In Mass Effect: Arrival, Commander Shepard is sent to the edge of the galaxy to rescue an undercover operative who may have evidence of an imminent Reaper invasion that has been looming since the very beginning of the series. Returning and playing a prominent role in Mass Effect: Arrival is fan favorite Admiral Hackett, who is voiced by legendary science-fiction actor Lance Henriksen (Alien, Terminator).
“All year, we have been extremely honored and humbled by the reception we have received for Mass Effect 2 from players around the world, including our post release DLC”, said Casey Hudson, who is the Executive Producer for the Mass Effect series. “Mass Effect: Arrival is an exciting extension to Mass Effect 2 and will show players just how close the Reapers are to returning and completing their deadly harvest.”
Mass Effect 2 recently won the video game BAFTA for “Best Game.”


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The Wild Rumpus (no relation), a children’s bookstore in Minneapolis, was named the bookstore of the year by Publishers Weekly.
Minneapolis is also the third most literate city in the US, taking into account the number of bookstores per capita. Unrelated, its also the fourth city for garden gnome appreciation.
Every town needs a bookstore, even a suburb—or maybe especially a suburb.
Amazon has plans to open a second New York City store near 34th Street, Herald Square, a shopping destination best known for the Macy’s Thanksgiving Day Parade near commuter rail hub Penn Station.
Unoppressive Non-Imperialist Bargain Books in Manhattan is getting the most they can out of a tight space.
Indie bookstores are competing with discounters like Amazon by hosting author events. But how to do small towns attract authors to their local bookstores?


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Pumpkin Patch annual sale
The Thrift Box annual Pumpkin Patch is Oct. 12 at the First Congregational Church, Leigh and Hamilton avenues from 9 a.m. to 3 p.m. Admission is $3.
The event features the best donations made to the Thrift Box over the past year and includes jewelry, antiques, collectibles, rare books, crystal, china and holiday items. Proceeds from this sale, as well as from sales at the Thrift Box, 1362 Lincoln Ave., are donated to Lucile Packard Children’s Hospital to fund uncompensated and under-compensated care.
Oct. 12 book sale at library
The Friends of Willow Glen Library are hosting a book sale on Oct. 12 from 10 a.m. to 4 p.m. in the library community room, 1157 Minnesota Ave.
Offerings include fiction in both hardback and paperback, cookbooks, coffee table books and children’s books. For more information, call 408.808.3045.
Bikes for Africa being sought
Mike’s Bikes and PODS of San Francisco are collaborating on an Africa Bike Drive through Oct. 13.
Donations of new or used bicycles will be accepted at Mike’s Bikes, 1180 Lincoln Ave., from 10 a.m. to 6 p.m. daily.
The bikes are being stored in PODS containers and will be shipped to African countries for use as transportation in areas where cars and fuel are outside the reach of most residents.


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Public invited to have their say in first review for 20 years
The Department for the Environment, Food and Rural Affairs (Defra) is calling for public contribution to its natural environment white paper, to be published next spring. Announcing the initiative...
America's twin economic hubs have started a race to electrify their buildings - and so far the Big Apple is winning
Less than one per cent of clothing material today is refashioned to produce new clothing - but some top brands are exploring one potential solution.
But smart charging won't take off unless it works for the user, warns TechUK's Susanne Baker
Former We Mean Business CEO tasked with getting businesses, investors, organisations, and cities engaged with the COP26 summit happening in Glasgow in November


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Yesterday, Comcast announced its ActiveCore SDN platform. We are attending Comcast’s analyst day and learned quite a bit on day one, but wanted to focus this blog on Routing.
To date, there has been an argument of SD-WAN and it ability to replace expensive telco MPLS solutions. If a customer continues using MPLS, it is likely they will keep their old router or buy a new router. But what happens when a startup uses ActiveCore without a legacy infrastructure or builds a new branch(greenfield)? In many cases, the CPE box provided by Comcast and 1 Gbps bandwidth is more than enough, especially for a mobile Cloud based workforce(many new companies fall into this category).
We continue to believe MPLS will live on and have a very long tail, but are seeing capable platforms threaten traditional vendors and the branch/access router market. It will be interesting to see what other SPs around the world do for SD-WAN as well as how traditional vendors and startups address this changing dynamic in businesses of a mobile workforce that uses Cloud platforms and a VPN tunnel is enough to connect back to headquarters without MPLS and/or without the need for a traditional router.


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Big Brother Alum Jessie Godderz to Host New Series! Learn more here--->>
Jessie Godderz is set to host Whacked Out, a new sports series set to debut in early 2023. He tells Soap Opera News, "WHACKED OUT SPORTS is one of the most popular and well-known franchises in TV history and I'm incredibly honored and excited to join this legendary brand as the host of their brand new series WHACKED OUT! We will be bringing laughter and joy to a whole new generation of fans and I cannot wait to get started. WHACKED OUT is now truly PEC-Tacular."
Godderz currently star weekly on the TV Series OVW Wrestling which airs on the National Cable TV Networks YTA, Next Level Sports, Game+, The Action Channel, and Astound TV Network, as well as on the digital platform FITE TV. He is also a Celebrity Spokesperson for the awesome Sports Supplement Brand MuscleTech. He also has a brand new Mr. PEC-Tacular Comic Book coming out soon from Broken Icon Comics as part of "The Adventures of Al Snow and Head" series starring WWE Legend Al Snow.
Godderz has been part of the CBS' Big Brother family for 14 years now and also previously starred on IMPACT Wrestling, CBS' The Talk, ESPN's CAWL To Arms, Amazon's Tainted Dreams, and Amazon's New Dogs, Old Tricks.


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The list of top advertisers on Fox News includes a mix of big businesses from Walmart and Applebee’s to smaller niche companies that specifically target a conservative audience, like MyPillow.
What you don’t typically see advertised on Fox News is luxury fashion. So it was particularly notable when, in November 2021, fashion resale company The RealReal began running ads on some of Fox’s most-watched shows, including “Tucker Carlson Tonight,” Laura Ingraham’s “The Ingraham Hour” and Sean Hannity’s “Hannity.”
It’s a seemingly odd choice. The RealReal’s website has two pages dedicated to diversity and social impact, and the company has vocally supported anti-racism measures such as the Black Lives Matter movement. Public records show The RealReal’s founder Julie Wainwright supported President Biden and various Democratic or progressive organizations like ActBlue in the past.
According to data from Media Matters for America, which tracks advertisers on Fox News, The RealReal has run 58 ads on “Tucker Carlson Tonight,” 28 on “The Ingraham Hour” and 25 on “Hannity” since November. The hosts of all three shows have long histories of being criticized for vocally opposing many of the same things The RealReal and other fashion brands have championed in recent years.
TV ads can be placed intentionally but are sometimes placed programmatically or through a third-party agency. When the process is automated, brands sometimes struggle with finding their ads placed alongside content they don’t want to be associated with, particularly on platforms like YouTube. The RealReal told Glossy it is “not currently advertising on Fox News” anymore, but according to Media Matters, The RealReal ads were on Fox News as recently as this month. The RealReal declined to say when it stopped running the ads or share whether its ads were placed on Fox News intentionally or programmatically.
“TV is part of our marketing strategy,” the company said in an email to Glossy. “As a performance-marketing organization, we evaluate data and results and adjust our approach, including our advertising channels, accordingly.”
Data shows that, this year, the company ran 22 ads on “Tucker Carlson Tonight,” nine ads on “Hannity” and three ads each on “The Ingraham Angle” and “Jesse Watters Primetime,” according to Media Matters data. Additionally, it ran six ads on “Fox & Friends” and 19 ads on “Fox & Friends Weekend.”
The RealReal didn’t specify what data and results led it to Fox News or what data caused it to stop. A look at The RealReal’s customer demographics and Fox News viewers show some overlap.
Around half of Fox News viewers are over the age of 50. More than half of The RealReal’s sellers last year were over the age of 42. In fact, The RealReal president Rati Sahi Levesque told Glossy in January that facilitating a generational handoff between older sellers and younger buyers was part of the company’s ongoing strategy.
At a time when brands are increasingly pressured to stand by and embody their stated values, brand safety is a real concern for advertising on Fox News. Advertisers on the network have faced frequent criticism for the incendiary claims regularly made on Fox News’ various programs. Dozens of progressive organizations have urged advertisers over the years to stop supporting the network, and many have done so, including fashion companies like Poshmark.
Angelo Carusone, president of Media Matters said most major brands have been wise to stay away from associating themselves with Fox News for brand safety reasons.
“It just doesn’t make any sense based on TheRealReal’s customers,” he said. “Their brand is in a very different space than, say, the pro-insurrection MyPillow company.“


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Kathmandu, July 5
Yeti Airlines says it is soon launching the in-flight entertainment service on domestic flights too.
So far, in Nepal, the service is available on international flights only. However, the company says its domestic flight passengers will also get the service from now onwards.
The company’s spokesperson Sudarshan Bartaula says the passengers can also connect the service to their mobile phones and can use the service on their own phones.
The in-flight entertainment system on Yeti Airlines aircraft will also have limited internet connections, with which the passengers can book hotels and shop online.
The company says it is currently testing the service that will be launched on all of its aircraft once the test is over.


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Petkim Container Terminal (PETLIM), operated by APM Terminals in Izmir, has served 110 vessels, including giant containers since its launch in December 2016.
Report informs citing newspaper Dünya, the container port in Aliağa, Izmir has led to launch its direct trade to Far East and Northern Europe thanks to its huge container ships.
PETLIM with the world’s largest lifting cranes, has an opportunity to serve the ships with a transportation capacity of 16,000 TEU. PETLIM, the only port that can receive direct freights in the Aegean region, allows trade with Far East and Northern Europe without the use of ports of Pyrenees, Malta and Suez Canal.
Transportation capacity of PETLIM, which has significantly reduced logistics costs and term in the Turkish foreign trade, reached 1.3 million TEU after the investment in the second phase.
© Content from this site must be hyperlinked when used


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Sept. 28, 2012 — -- It has become very clear this week that for RIM, which once led the smartphone race, the future hinges on its next release.
At a conference this week and on its earnings call yesterday, the company's executives talked at length about BlackBerry 10, the operating system (or "mobile computing platform" as RIM calls it) , which it will release on new phones in early 2013.
The company was originally supposed to ship the phones before the end of this year and in time for the holiday season, but they were delayed. Yet, RIM has been saying publicly that it does not feel deterred by that and believes it will still upstage the competition.
"It's not like the market is vanishing after this Christmas season," RIM's CMO, Frank Boulben, told ABC News. " We have heard from our carrier partners that the beginning of the calendar year is best suited for launch, after the end of the year frenzy."
This holiday season, however, will be one of the biggest for smartphone releases. Apple has just released the iPhone 5, a slew of new Android phones are coming from Samsung and Motorola, and Nokia and HTC, with the backing of Microsoft, are pushing Windows 8 devices very hard.
As of August, Android and Apple's iOS held 85 percent of the smartphone market, while RIM had less than 5 percent market share. But while RIM has noted the tough competition, it is motivated by its product differentiation.
"When I look at the marketplace today, I see two very big players in the me-too battle. The 'mine is slightly better than yours,' 'you have this, I have that' race. That's not where we want to play," he said. "The paradigm now is click on the app, when you want to do something else, click the home button, and go to another app. That's five years old now. The BlackBerry 10 experience is completely different and unique."
As RIM demonstrated this week, BlackBerry 10 has a number of new multitasking features, including one called Peek, which lets you switch apps by swiping from the side of the screen. Boulben said in his conversation with ABC News that BlackBerry 10 is a mobile computing platform, one that will make its way to other devices, including tablets and beyond, in 2013.
But on the phone front, it is also putting a big focus on something that has allowed RIM to stand out for years: the keyboard.
"Whether you are using our all-touch product or our physical keyboard device, you will have the best keyboard, period," Boulben said. RIM will release two phones with BlackBerry 10 at launch, one that is entirely touchscreen and one with a physical QWERTY keyboard and a large screen. The touchscreen keyboard, RIM says, will be the best on the market.
"It learns your ways of constructing sentences, it learns words, and it adapts," he said. In that respect, just, perhaps, RIM too will successfully be able to adapt in a changing world.


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The Kansas Orchid Society Show and Sale will take place this weekend in Botanica in Wichita. The event will take place on Saturday and Sunday.
We had a chance to learn more about the flowers and what to expect when someone goes to the show. There will be thousands of different orchids to look at.
Orchids come in both big and small sizes and all different types of colors.
Check out this website to learn how you can get tickets for the event.


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Overwatch's latest update, which delivers new character Sombra to the roster of heroes, is now live on all platforms: PlayStation 4, Windows PC and Xbox One.
Update 1.5 adds the new map, Ecopoint: Antarctica, as well as the new Arcade mode, which introduces a rotation of alternate game modes that offer the chance to earn loot and extra experience.
The full patch notes may be viewed here. Ecopoint: Antarctica will be joined by another map, Oasis, sometime in December.
PC players who visited the Public Test Realm got a look at Sombra and Arcade mode last week. For more on her weapons, abilities and lore, check out this post and the video below.


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1) King of Prussia: The hiring process is underway for Uniqlo's King of Prussia Mall location, which is scheduled to open this spring in the lower level of The Plaza. Want to work for the Japanese fashion retailer? These facts about Uniqlo's corporate culture may cause you to think twice.
2) Market East: The empty space soon to be left behind by Kmart at The Gallery will house several smaller stores in an attempt to resurrect the mall as a "fashion destination," says PREIT. Cue major eye rolls and skepticism among Philadelphians.
3) Citywide: Without Walls, Urban Outfitters' new house brand of athletic apparel targeted to 20-somethings hoping to keep it toned between art class and DJ gigs at The Barbary, will launch March 1. The brand will be shoppable online and in select UO stores throughout the country, the list of which does not include Philadelphia. Burn.
4) Rittenhouse Row: Luxury lifestyle brand Calypso St. Barth will take over the two-floor building at 1613 Walnut Street, formerly home to longtime tenant Wok restaurant. Opening date TBA.
· Racked Philly [philly.racked]


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New car sales fall to lowest level in 13 years, sparking 'sale of the century' two-for-one deals
Special offers prompted by a slump in car sales mean 'there's never been a better time' to get a good deal, drivers were told today.
It follows an announcement that new car sales have dipped to their lowest annual level since 1996.
Toyota, Honda, Peugeot and Vauxhall are among the manufacturers who are using interest-free finance to tempt customers while some online dealers are even offering buy one, get one free deals.
Richard Headland, editor of Which? Car magazine advises that the best deals will be on 4x4 vehicles and sports cars, as people try to cut motoring costs
Many of the offers require a hefty sum up front but Vauxhall is offering the zero per cent deal on selected Vectra and Corsa models without asking for any deposit.
The motor industry is now facing 'unprecedented challenges', said the Society of Motor Manufacturers and Traders (SMMT).
It said that total new registrations are 11.3 per cent down on the 2007 figure, and has forecast that annual sales, which reached 2.4 million in 2007, would slip to around 1.78 million in 2009 - the lowest total since 1992.
Richard Headland, editor of Which? Car magazine, said: 'There's never been a better time to get a discount on a new car, in recent memory, if you have got savings that you want to spend or can get finance.
'You have got to play dealers off against each other and always look at online brokers, whether you intend to buy from them or not, then go and haggle with your dealer.
'I have seen some even doing buy one, get one free. You can get two family cars for £20,000 or halve the cost with a friend.'
Sale of the century: Motorists are enjoying some of the best deals on cars ever. Online dealer Broadspeed is offering two Kia cars for the price of one
AA president Edmund King said it was disappointing that car sales for 2008 were down 11.3 per cent on 2007 but added: 'The good news for consumers is that there are some amazing deals out there.
'It is harder to get a loan but it's actually a brilliant time to buy a car if you have the money.
'Some showrooms really are offering "sale of the century" deals with up to 45 per cent discount. This is akin to supermarket offers of "buy one, get one free".
'Many car dealers have a lot of stock they cannot shift and clearly they are now prepared to do so at cut prices.'
Mr Headland said the best deals would be on models which were being replaced - like the Vectra which is being replaced by the Insignia - or bigger cars, 4x4s and sports cars which are harder to sell as people try to cut their motoring costs.
The Ford Focus was the top-selling car in 2008, but manufacturers will have to compete with special deals to maintain sales
The deals on new cars meant they were almost as cheap as buying a year-old model, Mr Headland said.
But he added that only those who felt financially secure should take out a zero per cent interest deal, as missing a payment could void the deal which would then be subject to interest.
Among the deals on offer today was interest-free credit on Toyota Auris and Verso models for customers with a deposit of at least 50 per cent as part of 'Once in a Blue Moon' offers lasting until the end of the month.
Until tomorrow, Honda is also offering zero per cent finance for two years on 2008 Civic models for customers with 35 per cent deposits, and online dealer Broadspeed is offering two Kia cars for the price of one.
SMMT chief executive Paul Everitt has said that further Government action was needed to help the motor industry while franchised dealers' leaders also called for action so that consumer confidence could be boosted.
Friends of the Earth said the Government should only give financial support to the car industry if companies guaranteed they would play their part in cutting UK carbon dioxide emissions.
The release of today's figures comes at a time when car companies have cut production, and jobs, to match the lack of demand.
A number of plants have extended the length of their Christmas and new year shutdowns.
The Ford Fiesta was the best-selling vehicle in December 2008, but the top seller for the whole of 2008 was the Ford Focus.
TOP-SELLING CARS IN 2008:
- Ford Focus: 101,593
- Vauxhall Corsa: 99,574
- Ford Fiesta: 94,989
- Vauxhall Astra: 90,641
- Volkswagen Golf: 65,029
- Peugeot 207: 53,462
- BMW 3 Series: 49,384
- Ford Mondeo: 44,150
- Vauxhall Zafira: 43,169
- Vauxhall Vectra: 42,555


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Exxon’s total reduction will affect about 14,000 people, split between employees and contractors, spokesman Casey Norton said by email. The cuts will come through attrition, targeted redundancy programs in 2021, and scaled-back hiring in some countries.
Exxon’s Big Oil rivals are also cutting thousands of jobs in response to the coronavirus pandemic-induced demand slump. BP plans to slash 10,000 jobs, Royal Dutch Shell will cut as many as 9,000 positions, and Chevron has announced about 6,000 reductions.
Exxon’s workforce stood at about 88,000 people, including 75,000 in-house employees and the rest composed of contractors, as of year-end 2019, Norton said.
In the United States, the pain will be acute at the suburban Houston location where Exxon opened a sprawling, glass-walled campus in 2014 to house 9,000 employees from exploration, chemicals and other units that had been dispersed throughout the metro area. The company’s corporate headquarters remains in the Dallas area.
— Bloomberg News
LVMH agrees to buy Tiffany for lower price
LVMH agreed to buy Tiffany & Co. at a slightly reduced price of almost $16 billion, preserving the luxury industry’s biggest takeover and avoiding a courtroom battle over an earlier deal that soured.
The compromise ends a year-long saga characterized by accusations of bad faith, French government intervention and lawsuits. Both sides were due to meet in a Delaware court in January, after the Louis Vuitton owner walked away from their original agreement and Tiffany sued to keep it on track.
Adding Tiffany at a lower price reinforces LVMH Chairman Bernard Arnault’s image as a hard-nosed bargainer, even though the savings — roughly $425 million — are a fraction of his company’s $240 billion market value. The deal gives LVMH a major boost in the global jewelry market, adding a famous brand that can compete with Richemont’s Cartier.
Under the new accord, the French owner of brands such as Dior fashions and Hennessy cognac will pay $131.50 a share, down from the original price of $135, according to a statement Thursday.
The reduction in the price follows Tiffany’s payment of dividends and management bonuses that angered LVMH. The payouts were made after the companies struck their first agreement in late 2019 and as the coronavirus pandemic caused a slump in luxury sales.
The new price is a reduction of only 2.6 percent from the original deal. The new accord was fueled by improving results at both companies. Some normalcy has returned to major luxury markets such as China, even as shutdowns recur in Europe.
— Bloomberg News
Also in Business
American Express said Thursday it is investing $1 billion to advance racial and gender equality, the latest in a line of U.S. companies pledging to promote social justice after race-related protests earlier in the year. The New York-based credit card issuer said it has achieved 100 percent pay equity for its employees and will continue to do so, as well as promote practices to hire and retain underrepresented people, including Black, Latinx and female colleagues. The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States to $750 million annually.
8:30 a.m.: Commerce Department releases personal income and spending for September.
8:30 a.m.: Labor Department releases the Employment Cost Index for the third quarter.
Earnings: Exxon Mobil
— From news services


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NEW YORK (MarketWatch) -- International Metal Enterprises, Inc., a New York--based "blank check" company formed for the purpose of acquiring an operating business in the metals or mining industries, filed Wednesday to raise $180 million by offering 30 million units at $5. The company plans to trade on the OTC bulletin board.
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Channel partners have been left to pick up the pieces following Symantec’s acquisition by Broadcom and subsequent disbanding of the cyber security brand’s self-service licence renewal portal, which has caused confusion for partners and end users alike.
As reported by ARN late last year, large numbers of Symantec staff across Australia, Singapore and Hong Kong, at least, finished up at the cyber security vendor just weeks before the Christmas holidays.
The retrenchments, which hit the cyber security vendor’s regional sales team particularly hard, came as part of a worldwide sweep of redundancies following the company's US$10.7 billion acquisition by Broadcom.
The move was reflective of Broadcom’s broader strategy to steer Symantec towards larger enterprise customers while taking a more hands off approach to mid-market and small to medium sized business (SMB) customers.
It appears that the fallout from this new focus is beginning to hit end users, who are no longer able to renew Symantec licences via the company’s online self-serve portal.
Indeed, it appears that Symantec shut down its online business website late last year, removing the portal through which many end users were able to use in order to directly renew endpoint product licences.
“Wow, you can't even give them money,” one miffed user said in a discussion about the matter on forum website Whirlpool.
The portal was shut down at about the same time Broadcom’s acquisition of Symantec reached completion and news of the mass redundancies in the local region began to emerge. In a message on the portal site, Symantec told users to acquire their licences via channel partners.
“Please be advised that as of November 3, 2019 at 8:00 pm (PST) orders are no longer being accepted via the Symantec Business website,” Symantec said on its site.
“This change will not impact your current active services or support. You will continue to receive services and support through your current subscription term, after which you may renew your services through a Symantec authorised channel partner.
“Customers with a subscription end date prior to December 31, 2019 will receive a complimentary 60-day extension of their subscription to allow time to contact a Symantec partner,” it added.
On the face of it, this development should have presented new opportunities for local channel partners to get in on the Symantec action and resell licences to end users looking to renew their Symantec solutions or acquire new licenses.
However, the reality is not quite so simple, according to sources familiar with the matter, with some partners left in the lurch while many end users thrown into confusion over how to engage with Symantec post-acquisition.
It is understood that following the Symantec acquisition Broadcom decided to focus predominantly on the top 20 per cent of end users globally. What this means, in practice, is that the company’s own sales team is only engaging with a small proportion of end users, especially in smaller markets like Australia and New Zealand.
Before Broadcom’s acquisition of Symantec, the security vendor’s substantial sales force -- in the local market at least -- would typically facilitate channel deals with end customers of all sizes.
Now, following last year’s layoffs, that sales force is largely absent, leaving partners to fend for themselves when it comes to finding leads and closing deals.
This change has led to no small amount of confusion and uncertainty among partners and end users alike.
Moreover, sources indicate that Broadcom has not been particularly forthcoming with information regarding how smaller partners and end users should continue to buy and licence Symantec products following the completion of the acquisition.
Read more on the next page...


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In addition to bundling Xbox Live and Xbox Game Pass for console and PC, Microsoft announced that Project xCloud will arrive on Xbox Game Pass Ultimate. Starting in September, the $14.99 USD per month subscription service will offer Microsoft’s cloud-based streaming technology that allows users to play Xbox Game Pass games on smartphones and tablets at no additional costs.
Project xCloud was formally announced in October 2018 and available for public testing since September 2019 in certain countries. So far, access to Project xCloud is limited to the U.S., Canada, South Korea, the U.K., and “many countries in western Europe,” according to an FAQ on Xbox’s website. The streaming service so far is only compatible with Android phones and tablets, but recently a limited test version of xCloud has been available for iOS devices since February.
“With cloud gaming in Game Pass Ultimate, you will be able to play over 100 Xbox Game Pass titles on your phone or tablet,” head of Xbox Phil Spencer said in a blog post. “And because Xbox Live connects all across devices, you can play along with the nearly 100 million Xbox Live players around the world. So when Halo Infinite launches, you and your friends can play together and immerse yourselves in the Halo universe as Master Chief—anywhere you go and across devices.”
In other gaming news, Sony is reportedly boosting its PlayStation 5 production by 50 percent.
The post Xbox Game Pass Ultimate Will Add Project xCloud Game Streaming to Subscription appeared first on Hypebeast.


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Paying $20 for a straw? It sounds like a crazy idea but it’s happening – at FinalStraw.
Last month, worldsteel published a story on FinalStraw, a startup based in Santa Barbara, United States. With a simple but ambitious mission to remove single-use plastics from planet Earth, the creators of FinalStraw pioneered the project last year hoping to secure $12,500 in funding. Instead, they collected $1,894,878 with 38,443 backers who gladly said yes to paying more than $20 dollars to replace single-use plastic straws.
So it began – the birth of a sleek stainless steel straw that is durable, collapsible and therefore, portable. Goodbye to plastic and hello stainless steel. #SteelSaveEarth – POSCO Newsroom reports.
l With Plastic Straws, Our Oceans Writhes in Pain
Americans use 500 million straws every single day. That’s 1.6 straws per person every day, enough to wrap around the earth 2.5 times, and because they’re so lightweight, straws blow into waterways, where they head out to sea and harm wildlife.
The United Nations Environment Programme reports that only 9% of the plastic waste ever generated has been recycled, and only 14% is collected for recycling now. The global recycling rate for plastics is already abysmal, and for plastic straws, it’s even worse. They are too small to be picked up by the waste management system. Plastic straws can’t be recycled, and they don’t decompose – they pollute our land and oceans.
l Plastic Ban Goes Viral
For years, environmentalists, as well as private industry stakeholders, had been aware of the grave dangers single-use plastics pose to the planet, so they have been implementing various measures to spread awareness and suggest alternatives. POSCO’s #SteelSaveEarth campaign is one such example.
In 2015, a video from Costa Rica went viral – a group of scientists was helping a sea turtle with a wrinkled brownish object stuck up in his nostril, which turned out to be a 10-centimeter plastic straw! The video of sea turtle writhing in pain resonated with the people across the globe.
Since then, the ban has rapidly spread worldwide. Last year, Seattle became the first US city to ban plastic straws and utensils. The EU has agreed to ban single-use plastics by 2021, and Taiwan is also following the suit. According to a UN report, most countries are taking plastic pollution very seriously – 127 countries had already implemented some type of policy regulating plastic use by July 2018.
Global coffee giant Starbucks will phase out plastic straws by 2020 worldwide – and McDonald is also ditching plastic straws.
l Out Goes Plastics, In Comes Stainless Steel
Enter stainless steel FinalStraw.
When FinalStraw first launched on Kickstarter last year, it instantly made headlines – the company smashed past its initial goal. The 38,443 backers pledging all together $1,894,878 sent a clear message – the consumers wanted to end single-use plastic straws, and there was a hunger for the plastic alternative, and in this case, it was found in the stainless steel FinalStraw.
l One Stainless Steel FinalStraw to Replace 584 Plastic Straws
Certainly, FinalStraw is not the first reusable straws. There are alternatives out there like paper, bamboo, glass, silicone, etc. FinalStraw is not even the first stainless steel straw – what makes it different from any other contenders already out there?
It is the world’s first reusable and collapsible straw – which makes it extremely portable. It’s collapsible, how? The stainless steel straw divides into 4 pieces and folds neatly into the container. When it comes out of the container, it assembles like a magic wand – the magnetic nature of steel not only boosts steel’s recyclability, it obviously plays a big role here too.
Because it’s made of stainless steel, the straw is also extremely durable. The creators say the straw can last up to 16 years. One stainless steel FinalStraw can save 584 plastic straws from entering our oceans every year. With the stainless steel FinalStraw, the creators dream of achieving plastic straw-free Earth by 2032!
l Life Cycle Thinking Gives Birth to FinalStraw
The FinalStraw CEO Emma Rose Cohen spent years in the Pollution Prevention Department at Los Alamos National Laboratory, working to reduce the Lab’s waste. The genesis of the stainless steel straw started as her thesis project when she was a master’s student studying environmental management and sustainability at Harvard.
Environmentally conscious for years, Cohen had not been using plastic straws for years but hated to-go container box. That was the starting point of her thesis.
▲ Image source: Final Straw and the quote sourced from ‘The Startup Story‘
“Every time I go out to eat, I always got something to go, and I hated the to-go containers because you never know what you’re getting. You can get styrofoam, plastic, or aluminum, all these different things. Once I get home, I put my food on a plate, and throw them all away. So my idea was first to look at the life cycle assessment of reusable containers – how many times these reusable containers need to be used in order to hit the break-even point with the single-use container. And secondly, whether I could design something that would be convenient to carry, easy to use, and simple to clean. So I designed a collapsible to-go container .”
So the journey of FinalStraw began – from the life cycle assessment of reusable containers.
l Stainless Steel Straw to Save the Planet
Is $20 too much to create a plastic-free future? Thousands of FinalStraw backers say it might just be the cheapest ticket to step away from plastic pollution. FinalStraw just launched #PlasticFreeJuly campaign encouraging their followers to make small changes by refusing the single-use plastics we use every day.
Meanwhile, alongside the creative and innovative entrepreneurs like the FinalStraw creators, POSCO will continue the journey to help build a sustainable future with the clean steel initiative, like #SteelSaveEarth.


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Want to protect your phone calls and data from the feds, hackers, and other snoops? FreedomPop's new Privacy Phone promises to do just that.
Nicknamed the "Snowden phone" after NSA whistleblower Edward Snowden, the phone is actually a Samsung Galaxy S2 that FreedomPop rejiggered into a call- and data-encrypting device. Equipped with 128-bit encryption, the phone aims to secure your voice calls and text messages. A built-in virtual private network lets you surf the Web anonymously.


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Celtic Heroes: Gelebron’s Tower Teaser
Gelebron’s Tower is the latest update to Celtic Heroes.
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BANGKOK, 24 June 2014: Business for Phuket’s tourism industry remains robust with passenger arrivals growing 26% and hotel occupancy rates reaching more than 80% in the first quarter of this year, according to two reports by property consulting firms CB Richard Ellis (CBRE) and C9 Hotelworks.
The Tourism Authority of Thailand quotes the surveys to strengthen its argument that the recent political situation in Thailand has not negatively impacted the tourism industry in Phuket.
According to the CBRE survey, international tourist arrivals increased 6.9% to 962,953 visitors over the first quarter. The research attributed growth to an increase in direct international flights to Phuket.
Meanwhile, C9 Hotelworks, last March claimed Phuket International Airport reported a consistent increase in passengers of around 10% per year between 2004 and 2013. In 2013, the airport recorded 3.2 million international arrivals, representing a 26% year-on-year growth.
Chinese and Russian tourists are currently the two biggest tourist markets for Phuket, making up some 45% of international passenger arrivals, a rise from 36% in 2012.
In the first quarter of this year, the numbers of travellers from China and Russia reached 225,949 and 228,691, respectively. Three other major sources are Australia, South Korea and Malaysia, according to C9 Hotelworks.
The CBRE survey claimed the average occupancy of high-end accommodation in Phuket (those hotels charging Bt2,000 or more per night) reached more than 80% in the first quarter of this year.
On the supply side, Phuket is expected to see eight new hotel open this year, representing an additional 971 rooms. The island has 47,112 hotel rooms, according to C9 Hotelworks.
However, there are signs of traffic declines in specific markets. In its May report on passenger traffic and country markets, Singapore’s Changi airport said that travel to and from Bangkok and Phuket had dropped 24% in May, alone.
The decline in passengers was across a mix of international travellers using Changi as a gateway airport to Bangkok and Phuket and local travellers from both Thailand and Singapore.
Phuket tourism robust


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Value investors use a simple but effective strategy to profit from the stock market: identifying companies whose shares look cheap compared to the intrinsic value of their businesses. When those companies keep moving forward with solid business strategies that succeed in boosting that intrinsic value, their stocks usually recover, giving value investors outsized capital gains.
The big problem that value investors face, though, is that many companies don't live up to their end of the bargain. Instead, some companies do their best to shoot value investors in the foot, often hurting their own prospects in the process. Ill-timed secondary offerings of stock represent a huge threat to the returns that value investors can earn, as essentially they put companies and shareholders on opposite sides of the investment fence.
Beating you when you're down
J.C. Penney (JCPN.Q) has intrigued value investors for years, as the beleaguered retailer inspires debate from bulls and bears alike. Those who argue that Penney is a value trap point to the company's failed attempt to change its business strategy from its traditional discount model to an everyday-low-price concept, which leaders hoped would reduce the need for costly promotional discounting. After that strategic shift failed to produce the desired results, Penney moved back to its original idea, trying nevertheless to make the most of the billions it spent on store renovations and other capital expenditures. Bullish value investors believe Penney can eventually recapture its lost business, while bears argue the retailer has gone past the point of no return and has little chance of fully recovering.
One roadblock could come from the company's potential need for additional capital. With some sources believing that Penney will need as much as $1 billion in new equity, the possibility of a dilutive secondary offering looms large over value investors.
Why secondaries can be so bad
Secondary offerings hurt investors in two ways. First, they put a company on the opposite side of value investors as it sells shares at rock-bottom prices, flooding the market with stock and usually creating price downdrafts. More importantly, though, after a secondary offering, more shares outstanding means that future gains are spread out across a larger shareholder base. That reduces the amount of profit value investors get -- especially those who bought in before the offering took place.
Given the negative impact of secondary offerings, you'd think that most companies would avoid them at all costs. Yet they turn out to be disturbingly common. Earlier this summer, pharmaceutical company Amarin (AMRN -5.93%) announced it would offer nearly 25 million shares to investors and underwriters to raise about $150 million. Amarin argued that it wanted the proceeds to help it launch its Vascepa triglyceride drug. But with the offering adding 16% to the company's total share count, shareholders sent the stock tumbling further -- and adding insult to injury was the fact that the company got only about $6 per share though the stock had traded as high as $12.50 late last year.
Allied Nevada Gold (NYSEMKT: ANV) also had to turn to the markets for a secondary offering earlier this year, with terrible timing right after a huge plunge in the price of gold. The gold miner got just $10.75 per share for its stock, even though the shares had started 2013 above $30.
Even well-known, large-cap stocks sometimes have to resort to secondary offerings at inopportune times. The financial crisis was rife with situations in which banks had to agree to horrible deals to raise capital. More recently, Bank of America (BAC 0.77%) made a dilutive offering aimed not at the public markets but at a single investor: Warren Buffett managed to get preferred shares of B of A convertible to common stock at just above $7 per share and that paid a 6% dividend. With B of A shares above $14, Buffett did well -- but at the expense of the bank's common shareholders.
Not all secondary offerings turn out badly, however. When companies are smart about timing offerings when shares are doing well, they can use investor enthusiasm to get favorable results for their businesses. Tesla Motors (TSLA 1.73%) is an excellent example, as its May secondary offering actually helped boost the stock. Supportive comments from founder Elon Musk and Tesla's use of the proceeds to pay off an Energy Department loan early helped the bullish case for the car company. Based on continued hopeful prospects for the electric-car maker, Tesla stock has continued to soar even after the offering.
Tesla's example, though, is the exception rather than the rule. Value investors need to be on the lookout constantly to make sure that promising prospects won't make dilutive offerings that will sap their growth potential. Otherwise, value opportunities can quickly turn into value traps.
Tune in to Fool.com for Dan's regular columns on retirement, investing, and personal finance. You can follow him on Twitter @DanCaplinger.