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In August 2010, former HP CEO Mark Hurd stepped down after a sexual harassment claim and he had messed up expense reports that were related to his inappropriate relationship with Jodie Fisher, an actress that was hired as a hostess for HP events. After Hurd was fired, HP brought in Léo Apotheker. Léo was at the company for under a year and then Meg Whitman was brought in. Although the company is still a PC giant, they are seeing their market share being chipped away by companies. At the time that Hurd was taking a lot of heat for the scandal, the late Apple co-founder Steve Jobs decided to offer him some support.
Steve Jobs wanted to help Hurd keep his job as CEO according to BusinessWeek. Around three days after Hurd was let go by HP, Jobs e-mailed him to ask if he needed someone to talk to. Hurd ended up meeting Jobs at his home and they went for a walk. While the two were walking “Jobs pleaded with Hurd to do whatever it took to set things right with the board so that Hurd could return. Jobs even offered to write a letter to HP?s directors and to call them up one by one,” wrote BusinessWeek. Hurd did not want to go back to HP with his tail between his legs.
Jobs was very fond of HP. When he was a teenager, he looked up to Bill Hewlett. After looking up Bill Hewlett in the phone book, Jobs asked him for spare parts for some electronics that he was building. Hewlett ended up giving Jobs a summer job along with the spare parts.
In Steve Jobs’ biography written by Walter Isaacson, Jobs said “Hewlett and Packard built a great company, and they thought they had left it in good hands. But now it?s being dismembered and destroyed. I hope I?ve left a stronger legacy so that will never happen at Apple.”


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ConAgra Recalls Cookie Dough Packages with Peanut Butter
As per the findings of a new report, food giant ConAgra has issued a recall of a number of Kroger brand handy chocolate chip cookie dough packages. The reason is that these were mistakenly packed with peanut butter.
The recall is being carried out in collaboration with the US Food and Drug Administration (FDA). The same covers packages of Break `N Bake 16-ounce chocolate chip cookie dough. These have Nov. 24, 2013, as "Use by" date and the Unit UPC11110 87530.
It has been told that the cookie dough had been provided in Gerbes, Foods Co., Kroger, Dillons, Food 4 Less and Gerbes as well as Fry's, Fred Meyer, Scott's, QFC, Ralphs and others. Smith's grocery stores, spread in 26 states, also had received the packages.
The FDA and ConAgra said that the cookie dough on recall were likely to risk people of suffering from peanut allergies. Thus, these were in time being asked not to be consumed. However, no illness has been reported in relation to the same as of now.
The report found that Kroger stores in Texas and Louisiana have not got impacted, neither the stored in Delta Division of the chain. This division comprises of Arkansas, western Kentucky, western Tennessee, Mississippi and southern Missouri.
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domain: news


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It’s a widespread sentiment for individuals outdoors of the crypto group to take a look at Bitcoin (BTC) costs and conclude that it’s too late to get into crypto. Nevertheless, a report reveals that the business continues to be at first section of the adoption curve.
In a joint report published by Boston Consulting Group, Bitget and Foresight Ventures, knowledge reveals that crypto adoption continues to be very low in contrast with conventional funding property. In line with BCG, solely 0.3% of particular person wealth is invested in crypto, which is incomparable with the 25% put into equities.
The report concludes that the shallow funding penetration means there’s nonetheless lots of room for extra substantial development and adoption inside the crypto business.
As well as, the report compares the web’s adoption curve to succeed in 1 billion customers with present cryptocurrency holders and Ethereum addresses with non-zero balances. The report mentions that “There’s loads of development to return.”
By evaluating the info, the researchers predicted that crypto customers could attain 1 billion by 2030 if the trendline continues on its course.
Associated: Bitcoin funds make lots of sense for SMEs, however the dangers nonetheless stay
A current market report by consulting agency Verified Market Analysis predicted that the nonfungible token (NFT) business’s worth may shoot as much as $231 billion in 10 years. In line with the report, the sector could proceed an annual compound development fee of 33.7%, with music, movie and sports activities recognized as drivers.
However, a report from McKinsey & Firm reported that the Metaverse alone might be valued at $5 trillion in 2030. The worldwide consulting firm surveyed shoppers and corporations throughout varied international locations and industries to determine patterns in client conduct. In line with its findings, e-commerce shall be driving the money movement inside the Metaverse, making as much as $2.6 trillion in income by 2030.
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- ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.


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New Zealand can't afford to ease up on new hotel development, Nick Thompson, Bayleys director of hotels and tourism warns.
Thousands of more new hotel rooms are set to come on stream within the next seven years as a result of increased levels of hotel construction activity but New Zealand is still at risk of being left behind by other tourist friendly countries, Thompson says.
"There has been significant build activity in the country's main tourist centres, but the industry is still struggling to keep pace with New Zealand's popularity as a tourism destination. Current inventory won't be able to cope with the number of visitors forecast," he says.
"The boom in international arrivals has resulted in high occupancy rates and rising room prices — a good problem to have but one that, if left unaddressed, could curb further growth in New Zealand's biggest export earner."
International arrivals have grown 28.8 per cent between 2014 and 2017, hitting 3,734,000 in the year ending December 2017, and are forecast to hit 4.9m a year by 2023. Australia remains New Zealand's largest tourism market, accounting for 39 per cent of arrivals, with China second, accounting for 11 per cent of arrivals.
The tourism industry's goal is to increase its total annual revenue — $35.9 billion in 2017 — to $41b by 2025, and hotel accommodation is widely seen as critical to growing the tourism economy.
Thompson says while accommodation spend accounts for just 10 per cent of total visitor spend, the accommodation sector has a huge influence on the wider tourism economy.
"If the accommodation sector has a capacity constraint, then every other tourism-related business has a capacity constraint. If tourists can't find accommodation, they'll choose to spend their money in other markets."
Two years ago, New Zealand Trade and Enterprise (NZTE) warned that Auckland, Rotorua, Wellington, Christchurch and Queenstown would need 4526 new hotel rooms, over above those already planned, to cope with projected visitor demand by 2025.
NZTE has since revised its shortfall forecast from 4526 rooms to 2390 for the main tourist centres.
Auckland is to get more than 500 rooms this year, about 1500 in 2019, and nearly 3000 rooms between 2020 and 2025.
The bulk of new rooms for Queenstown, Christchurch, Rotorua and Wellington — about 4000 — will come on stream between 2020 and 2025.
Thompson says new developments under construction include Accor's 130-room SO Sofitel and the 300-room SkyCity Convention Centre Hotel, both in central Auckland, while those still on the drawing board stage include Christchurch Casino's $85m, 4.5-star 200-room hotel The Peterborough and the $60m 227-room Holiday Inn Express in Queenstown."
NZTE is reported to be working with regional authorities and developers to identify about 20 potential sites for new hotel infrastructure around New Zealand. It has also presented to groups of prospective investors, both domestic and overseas, and reports there is interest in a number of the opportunities.
"At this stage an international investor has purchased land in central Christchurch for a potential new hotel and is working through the development stages. There are about four further potential new hotel developments in various stages of negotiation across New Zealand," NZTE says.
Tourism Minister Kelvin Davis is quoted as saying he is "hugely supportive" of the work NZTE is doing to encourage new hotel development.
"In terms of growing the sector, Government is focused on spreading visitors out so that businesses and communities around the country benefit. We want travellers exploring less-visited regions and coming at quieter times of year, as well as during the peak summer season," he says.
"By smoothing out the peak season and encouraging a more even flow of international visitors, the industry can make better use of its capital, provide more stable employment opportunities; and investors will look more favourably on developing new infrastructure and amenities."
Thompson says pressure to provide new stock has built to such a level that development activity is inevitable, with the market creating its own development pipeline and strengthening the existing one.
"The biggest road block is the imbalance between construction costs and the value of the development. As this imbalance improves and smart design is used, we are seeing increased activity, as evidenced by some of the prices that have been paid for Auckland CBD sites by hotel developers, who can now justify paying a little bit more than what they've been able to in the past," he says.
"The most significant players in the New Zealand accommodation market right now are international hotel developers, with Bayleys selling two of the most significant development sites to come onto the market in recent years — on the corners of Wyndham and Albert Sts and Albert and Wolfe Sts in Auckland CBD — to international developers.


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Clerkenwell Design Week, taking place from May 23rd to May 25th, 2023, promises to unveil an array of design insights during its much-anticipated talks series, “Conversations at Clerkenwell.” This year’s festival boasts a schedule of eighteen thought-provoking talks over three days, making it a must-attend event at the forefront of design innovation in the United Kingdom.
The talks series will open with a presentation by Designer and Artist Morag Myerscough. Other notable speakers include James Patmore, Design Director at Soho Home, and Domhnall Nolan, Interior Designer at Soho House. The programme will also feature appearances by Philippe Malouin, a British/Canadian designer, Minnie Moll, CEO of Design Council, Note Design Studio, Pantone, Nipa Doshi of Doshi Levien, and Yuri Suzuki, Experience and Sound Designer at Pentagram.
The talks series will delve into a wide range of themes, including the concept of “taste,” sound design, the latest color trends for 2024, the definition of Scandinavian design, design circularity communication, diversity in design, Maximalism, and the future of wellness in the hospitality industry. Moreover, the program will explore the crucial role that designers and design play in addressing the climate emergency, with a special focus on sustainability in the ‘Sustainable Living’ series, featuring one talk each day dedicated to the topic. Curated by Brand Consultant Katie Richardson, the talks will take place in an AirClad structure and are sponsored by RAK ceramics.
In addition to the ‘Conversations at Clerkenwell’ talks, there will be numerous other events, installations, and talks taking place during CDW in various showrooms and spaces throughout EC1. With hundreds of options to choose from, attendees will have ample opportunities to explore and engage with the latest design trends and concepts.
Some of the most significant talks at Clerkenwell Design Week include
Morag Myerscough in Conversation with Bethan Ryder
On May 23rd, 2023, Bethan Ryder will engage in a conversation with the highly acclaimed artist and designer, Morag Myerscough, as they delve into Myerscough’s work. Known for her skill in revitalizing spaces and promoting community and public interaction through her immersive spatial artworks and colorful installations, Myerscough has made a name for herself as a prolific artist and designer. The discussion, led by Bethan Ryder, Editorial Director of WGSN, promises to provide an insightful glimpse into Myerscough’s creative process and the inspiration behind her vibrant works.
What is Scandinavian about Scandinavian design?
On May 23rd, 2023, there will be a panel discussion on Scandinavian furniture design, exploring the cultural, material, and industrial context that has given rise to this design movement. The discussion will also delve into the complexity and nuance of the Nordic region’s design identity, questioning the mainstream idea of Scandinavian design and what it misses out on. The panel will be chaired by Oli Stratford, the Editor of Disegno, and will feature three prominent experts in the field: Jonas Pettersson, Co-Founder of Form Us with Love, Marie-Louise Høstbo, Head of Design at Fritz Hansen, and Dr Sofia Singler from Cambridge University and the Alvar Aalto 2023 Steering Group. Attendees can expect a thought-provoking conversation on the origins and evolution of Scandinavian furniture design, as well as its broader cultural significance.
PANTONE: The Art of Living – Colour Trends for Home and Interiors 2024
On 24th May 2023, the concept of “lifestyle” and how we live our lives has taken on a new meaning in recent times, and the PANTONEVIEW home + interiors color trend forecast for 2024 aims to explore this new world in depth. The forecast delves into a world where we are increasingly attuned to how our homes and surroundings make us feel, and our emotional connection to objects, whether they are old or new. This is a world where we express our values, cherish the ordinary and embrace our creative spirit. Carola Seybold and Jane Boddy, experts from PANTONE, will share their insights and expertise in this area, providing attendees with a glimpse into the future of home and interior design trends.
SLEEPER PRESENTS: The Future of Wellness in Hotels
On 24th May 2023, Since the pandemic, wellness travel has emerged as one of the fastest-growing sectors in the hospitality industry. Hotel groups have responded to this trend by expanding their offerings to include cognitive health scans alongside massages, as well as introducing recovery rooms that provide a new meaning to rest and relaxation. So, what’s next for wellness in the hospitality industry? This topic will be discussed at Clerkenwell Design Week, where a panel of experts will share their insights on the matter. The discussion will be chaired by Ben Thomas, the Editor of Sleeper, and will feature Handley Amos, Co-Founder of Pillar Wellbeing, Inge Theron, Creative Director of Spa & Wellness at Maybourne Hotel Group, and Alex Reed, Design Director at AvroKo. Attendees can expect an enlightening conversation on the future of wellness in the hospitality industry, including the latest trends and innovations that are set to transform the sector in the coming years.
2023 exhibition venues
Design Fields – home to international furniture and interiors brands;
Contract – home to commercial interiors;
Light – home to international lighting brands;
Project – home to workplace furniture and solutions;
Elements – home to architectural hardware and finishes;
British Collection – home to the best of British interiors brands;
Detail – home to luxury interiors;
Platform – home to emerging design talent;
Old Sessions House – home to brand pop-ups and activations, and also the festival hub offering CDW visitors free access between 23 – 25 May;
Ceramics of Italy – home to Italian tile brands;
(NEW) Catapult – home to contemporary design for office, hospitality and retail.
Visitors can register for their FREE festival passes via clerkenwelldesignweek.com.
All visitors require a visitor badge to access the exhibition venues and showroom events.
Exhibition venues are open 10:00 – 18:00 on Tuesday, 10:00 – 21:00 on Wednesday, and 10:00 – 17:00 on Thursday. Showroom opening hours vary.
Closest underground stations: Farringdon and Barbican
Bus routes: 19, 341, 38, N19, N38, N41, 55, 48


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On Tuesday, Tesla held an event at a factory in California that celebrates deliveries to customers of new cars just starting production this month.
The price of a new model car named “Model 3” is $ 35,000 (about 3.9 million yen), which is set to less than half of the price of other Tesla models. The distance that can run with one charge is approximately 350 km, and according to Tesla, the number of orders for reservations has already exceeded 370,000.
According to the U.S. media, model 3 has about 500,000 reservation units worldwide. Eiron Mask chief executive appealed as “affordable car.”
In December last year, General Motors Corp.’s biggest car, General Motors (GM), launched a new EV “Chevrolet Volt EV” that kept the lowest price to $ 34,495, the competition for sales is likely to bear fever.
Tesla Eleon Mask Chief Executive Officer introducing the new model electric vehicle “Model 3” = 28, California State Fremont (co)
“Model 3” began shipping. First of all, we have two models with a cruising range of 354 kilometers and 499 kilometers. The price of the standard model is as planned, before application of subsidies and deductions, respectively from $ 35,000 (about 388,000 yen) and $ 44,000.
There is little worry about running out of batteries, middle-price range EV with high design appearance, and the eco car market is likely to be activated. Just a right steering wheel …


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An agent in Kent is warning others to be wary when ordering window displays after being targeted by scam.
Richard Crosby, MD of independent estate agency Lovetts, which has branches in Margate and Birchington, says he wants to alert others within the property industry to the fraud he was subjected to.
Crosby says the scammers, who claimed to be from a legitimate signage business called We Do Signs, contacted him via email offering to supply LED window displays for both his agency’s branches.
“Make your estate agency stand out from the crowd with LED Light Pockets,” the email said, claiming falsely to have already supplied an firm in Middlesex.
“LED Light Pockets offer an innovative tool to promote your business in a professional and eye catching way, drawing customers in.”
But the fraudsters had instead copied the branding of the legitimate company and used an email address with an almost identical URL to the real firm.
The real We Do Signs does not manufacture signage for estate agencies, and the company was not involved in any way in the fraud.
“The email I received from ‘Dan’ looked legitimate as did the email address and their bank payment details which came up as We Do signs, so after having a relatively lengthy discussion about cost via email I paid £2,000 plus VAT and awaited the new signage,” says Crosby (pictured).
“Even though they got the VAT rate wrong, I made the classic mistake of thinking that this was such as good deal that we might as well just roll with it,” he says.
But six days later nothing had arrived and despite several chasing emails and apologetic replies about stock and delivery problems, the scammers eventually went silent.
Crosby is urging agents to be wary of fraud attempts like this which appear to be increasing during Covid while face-to-face contact is less common and more suppliers are switching to online only sales methods.


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We are delighted to announce the co-design and co-development of the first mobile application of global beauty brand Anastasia Beverly Hills. The app, which is the result of a collaborative project that started in 2020 and has been launched on the market, brings to life the beauty brand’s strategy to provide users with Anastasia Beverly Hills expert eyebrow experience on their mobile phones, for the first time ever.
“Anastasia Beverly Hills: The Brow App” leverages Anastasia Soare’s patented Golden Ratio Shaping Method® and years of professional beauty experience into a digital guide for newcomers and brow pros who want to enhance their eyebrows for any occasion. With the help of a unique algorithm and Machine Learning, the app analyzes the user’s facial structure, according to a custom mix of user preferences and ideal proportions defined through Anastasia’s Golden Ratio Shaping Method®. Those who want to master the art of brow enhancement can enjoy a library of video tutorials for recreating Anastasia Beverly Hills’s unique brow looks, including how-to videos of beauty products designed to help them achieve similar results themselves.
“For years, I’ve been perfecting the eyebrows of people all over the world. I am happy to share with you the magic that you would find in my salon on your mobile phone for the first time ever,” stated Anastasia Soare, Anastasia Beverly Hills Founder and CEO.
“Through our partnership with Anastasia Beverly Hills and a collaboration with a proprietary augmented reality firm, we stayed close to users so that we can truly understand what they need for their brow and beauty regime, and delivered great support based on our findings. We feel honored for the opportunity to build an application that, for the first time, puts the unique and beautiful work of Anastasia Beverly Hills, as well as their incredible experience into the palms and pockets of their customers. We could not be more excited for what the future of beauty holds,” added QUALITANCE CEO Mike Parsons.
The application that QUALITANCE has co-developed in close collaboration with the Anastasia Beverly Hills team is governed by design thinking principles and relies on an intense process of documentation and testing with end-users. The digital solution uses a mix of technologies, such as serverless architecture, computer vision and machine learning, respectively algorithms trained on user data sets related to face segmentation and skin color.
“Anastasia Beverly Hills: The Brow App”, which is already available on the App Store, empowers users by delivering personalized, step-by-step guidance on how to recreate their perfect brow at home, and recommends what beauty products to use in their daily routine.
QUALITANCE is an international technology and innovation company that builds digital products and businesses for global organizations. QUALITANCE leverages behavioral design and emerging technologies such as AI and Machine Learning to create innovative digital products and services and help large organizations step in the digitally hyper-scalable 21st-century economy.
In over 10 years of existence, the company has built its presence across 3 continents – Europe, US & Australia – from Bucharest to San Francisco and Sydney, and has worked with some of the world’s biggest companies – News Corp, Virgin, IKEA, Johnson & Johnson, or Ford – on digital transformation and innovation solutions.
QUALITANCE has been recognized by the Financial Times 1000, Deloitte Technology Fast 50 Central Europe, Technology Fast 500 EMEA, and Inc.5000 Europe as one of the fastest-growing technology companies. In 2017, QUALITANCE was awarded Company of the Year by the Employers Association of the Software and Services Industry (ANIS). In 2018, the Bucharest Stock Exchange presented QUALITANCE with the Made in Romania Award for being one of the companies that will contribute to the growth of the national economy.


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Hopes of rising clothing sales and the impact of a rallying pound put Next back in fashion. RBC Capital Markets upgraded the high street stalwart to “outperform,” citing its improved revenue outlook and lifting its target price from £48 to £55. Shares in Next rose 152p to £50.64.
“Our proprietary entry price point pricing survey suggests that Next has become more price competitive, in particular, versus its key competitors M&S and Debenhams,” RBC said. “Next now ranks slightly below sector average in its entry level apparel pricing.”
The broker added that the recent rally of sterling, which sent it above $1.43 for the first time since June 2016 in the early hours of yesterday morning, “could boost Next’s gross margin earlier than peers”.


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(LANKAPUVATH | COLOMBO) – Nadeesha and Thejani Gunaratne commenced PhDs with the University in 2016 following studies in Food Science and Technology at the University of Sri Jayewardenepura in their home country of Sri Lanka.
Both received their doctorates on Saturday 17 December in Melbourne, one day before International Twins Day.
During their PhD, both twins researched new ways to measure and analyse consumers’ emotional and sensory responses to chocolate in complementary research, with Thejani focusing on the impact of chocolate flavour and Nadeesha on the impact of packaging.
Their PhD research topics were:
Nadeesha Gunaratne – Implementation of non-invasive biometrics to identify effects of chocolate packaging towards consumer emotional and sensory responses
Thejani Gunaratne – Development and implementation of novel sensory evaluation procedures of consumer acceptability towards chocolate based on emotions and biometric responses.
Their graduation ceremony was originally planned for March 2020 but delayed due to the pandemic.
Thejani is now a Senior Experimental Scientist – Sensory and Consumer Science at CSIRO in Melbourne and Nadeesha is a Research Scientist – Sensory and Consumer Products at Amway in Los Angeles.
“Being born twins, we have a unique bond that’s hard to explain to other people,” Thejani said.
“The fact that we have completed all important milestones together, primary school, high school and now university, has made our lives even more enjoyable. We were eagerly waiting to attend the PhD graduation together as it means a lot to us.”
Although the twins now live on opposite sides of the world, Nadeesha says they’re closer than ever.
“We still talk multiple times a day whether it’s by text, over the phone or on Zoom,” she said. “The fact that we’re finally together and were able to graduate together in person is a dream come true for both of us and our family.”
Under the supervision of Professor Frank Dunshea, Associate Professor Sigfredo Fuentes and Dr Damir Torrico, during their individual PhDs the twins used technology developed in the University of Melbourne’s Sensory Lab to apply biometrics – including skin temperature, facial micro-expressions and heart rate – to develop machine learning models and an evidence-based understanding of how consumers respond to both chocolate and its packaging, consciously and unconsciously.
They achieved seven academic journal publications in their PhDs, all with both twins as co-authors.
Their research highlights that our enjoyment of chocolate products and other foods – and our decisions to purchase them – are driven by far more factors than taste alone.
“When we buy food based on its packaging and labels, we expect it to both taste good and match what that packaging tells us,” Nadeesha said.
“In the past, sensory research relied heavily on what participants said or did, which provides useful information on how consumers consciously respond to products, but limited on scientific data such as unconscious and emotional responses, which have a major impact on their experience and whether they’ll buy the same product again.”
Professor Dunshea said the biometric techniques applied by Nadeesha and Thejani in their research at the University has added to our ability to conduct data-based sensory science research in recent years.
“For the food industries, particularly small and medium sized enterprises in Australia with an export focus, this allows greater certainty that new foods will appeal to consumers and are more likely to result in repeat purchases. For consumers, it means more enjoyable foods that live up to the promise of what the packaging communicates,” Professor Dunshea said.


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Vendors give retailers the tools they need to succeed
February 4/11, 2019: Volume 34, Issue 18
By FCNews staff
Las Vegas—Long touted as the flooring industry’s “main event,” TISE 2019 (The International Surface Event) lived up to its pre-show billing by virtually every metric—retailer enthusiasm, vendor participation and educational session attendance, to name a few.
“The exhibitors that we talked to said it’s been a really good show—a lot of traffic,” Amie Gilmore, SEM, Surfaces show director, told FCNews on the third day of the show. “More importantly, exhibitors said they were seeing the right people, too, so they were happy about that. There were fewer companies, but a lot of exhibitors reserved more space to show more product. We’ve had a couple hundred re-sign for next year’s show already.”
While registration figures were not available as of press time, Informa—which manages TISE—believes anecdotal information bodes well for the event.
“Right now we don’t have numbers, but the feel of it was good,” Gilmore stated. “What we have found over the last few years is retailers are sending more people. Instead of sending their top two people, they will also bring, say, their marketing and sales team and have them attend some classes. Just as the building and construction industry has gotten more positive and grown it has allowed the retailers to be more profitable and afford to bring more people.”
Show management noticed a lot of delayed flights into Las Vegas, which may have impacted the first wave of the busy first morning of the show. But according to Gilmore, attendees arrived a little bit later than usual, but the floor was still busy at 5 p.m. “Some companies have parties or happy hours at the end of the day and that keeps a lot of people on the floor,” she stated. “That really helps, and we encourage it.”
While there are countless reasons to attending Surfaces (i.e., the educational sessions, networking opportunities and social events), it all goes back to the latest and greatest innovations in flooring. “New product introductions are always talked about, but there’s buying, too,” Gilmore said. “A lot of people come here and do their buying for the year. A lot of that [buying] happens on the last day—that’s when they get the deals.”
But it’s not the only draw. Informa reports attendance at its technical sessions was up as well. “Attendance was up from last year for sure,” Gilmore said. “The session schedule could have also been part of the buzz on the floor, as classes weren’t held all day. Plus, we still had a full day of education the day prior to the show. The way we had it set up also meant there was more opportunity for networking. One reason we changed it up was to bring in more speakers. Of course, we bring back the speakers who are popular year after year, but we also wanted to shake it up a little bit. We also wanted to make it easy—we only had three classes going on at the same time. If you were in one class and decided it wasn’t for you, you could walk across the hall to something else. We wanted to cater to the attendees, and I think it was more successful for the most part.”
Following is an overview of some of the most notable trends seen across the various flooring categories. (For more specific details on the respective product segments, see each beat section within this issue.)Carpet
Market research shows carpet continues to lose share to hard surfaces, but anecdotal evidence suggests carpet mill executives aren’t throwing in the towel. Instead, they remain determined to find ways to succeed in the flooring industry, which was evidenced at Surfaces 2019 where higher-end goods featuring textured patterns and new colorways seemed to be everywhere.
“I can’t say we are in the carpet business—we are in the fashion business, we make statements,” said Len Andolino, executive vice president – residential division for Couristan, which showed 84 different styles at Surfaces.
Couristan was among several mid-sized mills who showed off eye-catching products at Surfaces. For some, the emphasis at the show was not so much on the product but the display as several new merchandising displays were shown from the likes of Couristan, Engineered Floors and Anderson Tuftex.
Technology was another focal point in carpet. Mohawk’s ColorMax—an innovative dyeing process that is used on select SmartStrand and Karastan styles— won a Best of Surfaces award for technology (see page 14).
ColorMax, which produces what the company called “high-definition: carpet, stands out for its ability to provided blended colorations, superior color clarity, enhanced color saturation and maximum performance.
For 2019, Mohawk is introducing four ColorMax styles in the SmartStrand Silk Reserve product portfolio. In addition to the infusion of ColorMax products, the Silk Reserve line is also expanding with more patterns.Engineered Floors, already a top three carpet mill, enjoyed growth rates of between 20% and 30% in 201, and is doubling down on solution-dyed polyester. “That’s where the growth of the industry is,” said Joe Young, soft surface category manager. “These days, if it is not soft multicolor polyester, it is hard to sell.”
Several smaller mills have expanded into hard surfaces in recent years, but virtually all of them have not lost sight of what got them into the business in the first place—carpet. Phenix introduced 40 new carpet products and drew praise from flooring dealers for its Modern Contours collection 14 styles grouped into three designer-curated palettes. Phenix employs unique yarn technologies to create this vivid aesthetic, all part of its strategy to deliver diversification of design to the market. Resilient
In addition to presenting a plethora of new products spanning from vinyl sheet to LVT to rigid core, resilient manufacturers focused on updating merchandising displays to assist RSAs in selling the increasingly congested category.
Manufacturers such as Raskin Industries, EarthWerks, Mannington, Mohawk, Novalis and USFloors—to name a few—made major investments in merchandising. The days of multiple resilient merchandising displays are slowly fading as these new displays provide flooring dealers with a one-stop-shop for all or most of the segment’s flooring, experts say.
One of these displays was Mannington Mills’ Adura Selling Solution, which was launched mid-2018. “You have one display with 80 colors,” said Jimmy Tuley, vice president, residential resilient business. “You can pick the color and then pick your construction. You can have a glue-down LVT, a rigid product or a WPC product all in the same visual. We also tell the corresponding technical story.”
In terms of product, rigid core stole the show with more manufacturers taking on the segment. USFloors, for example, launched COREtec Stone and COREtec Wood—the manufacturer’s latest product lines made with a refined mineral core. Both products received significant attention from show attendees, including Ben Morris of Carpet Corner, Gearhart, Ore. “We do a lot of business with COREtec. We’re really interested in the waterproof wood flooring. We’re ordering both the new COREtec Wood and COREtec Stone displays.”
While rigid products seemed to make an appearance at nearly every resilient booth, sheet and LVT/LVP products were not forgotten. Jody Robison, president of Red Mountain Flooring in Idaho Falls, Idaho, cited Karndean Designflooring’s Art Select premium glue-down product. “We have two resort areas within 90 miles of us that currently use hickory and pine in a lot of their vacation properties. We’re excited to be able to offer a new product that will be more suited for the climate, with a lot less maintenance, while still having the look of real wood.”
Jeff Macco, CEO and treasurer, Macco’s Floor Covering Center, Green Bay, Wis., took note of Armstrong Flooring’s latest luxury vinyl offerings. “We’ve been an Armstrong customer for 50 years. It’s exciting to us to see Armstrong refocus on something that they were always an industry leader in. Some of their LVT and LVP products are new and exciting.”Tile
It’s undeniable that the tile category is a challenge for the industry—price points are high and installation is not only a skill but a science. However, tile manufacturers say they are anything but weary of the upcoming year.
That, manufacturers agree, is not only because the look and feel of tile has evolved greatly over the past few years—thanks to advancing technologies—but because tile’s place in the home continues to evolve as well. No longer is tile relegated to the kitchen and bath. Now it has wound its way across a number of surfaces within the home.
“If you were just dealing with the floors, and that was the only category, I’d probably say [tile] was down to low single digits as it relates to the industry,” said Bob Baldocchi, chief marketing officer, Emser Tile. “However, the applications are expanding, people have moved to indoor/outdoor, up their walls and to feature spaces. It’s a lot easier to install, too—the setting material industry is there. We’re developing more wall products with coordinating, floor-rated collections.”
Manufacturers agree the indoor/outdoor phenomenon has moved beyond a trend and has become a new design driver for some homeowners. The desire to expand the living space into the outdoors means new introductions capable of withstanding the elements while retaining tile’s nuanced design features. Vendors at the show launched numerous collections touting outdoor durability interwoven with eye-catching style.
Large formats also continue to dominate, as several tile vendors at the show launched new lines boasting large plank or slab styles. Plank sizes such as 12 x 24 remain popular with formats such as 12 x 48 gaining momentum. However, vendors note that larger-sized mosaic tiles are also starting to see success. Sizes such as 6 x 6 and 8 x 8 were seen in different colors, textures and materials, launched across brands.
When it comes to design, wood looks also continued to dominate at this year’s show as both vendors and retailers noted the style’s demand among consumers. However, instead of just replicating the look of wood, more vendors can now boast textured tiles as well.
In terms of color, vendors believe the noir fad has faded and evolved into a full-fledged style statement. Black is the new gray in today’s market, and vendors agree the color is here to stay. Many launched a variety of versatile collections boasting the stark colorway.
As the year continues, both vendors and retailers agree the evolution of tile, and the technology used to style it, will continue to bring value to the category.Wood
Arguably the most aspirational product—although it has ceded some market share to look-alike product categories—hardwood still continues to evolve. Surfaces 2019 served as the launchpad for a variety of products featuring innovative surface finishing techniques, low-luster yet durable finishes and longer/wider boards featuring different species, widths, colors and stains.
Ian Newton of Oxnard, Calif.-based Flooring 101, an NFA dealer and long-time Armstrong Flooring dealer liked what he saw in the Armstrong Flooring/AHF Products space. Featured products included popular collections like Timberbrushed, which initially launched in 2017 but has been upgraded with deeper brushing characteristics, largely based on retailer demand and consumer feedback. Other winning lines included Paragon, which boasts scraped and smooth visuals, and Appalachian Ridge, which is both scraped and wirebrushed, although it’s more refined and less rustic than collections like Timberbrushed. And let’s not forget about HomerWood, AHF Product’s premium brand created by Amish craftsmen. These high-end, custom products come in both solid and engineered visuals with the latter available in a hefty 5/8-inch thickness, 4mm veneer in widths up to 12 inches.”
“This is a product that will sell well in our market,” Newton said.
The Buckingham and Kensington hardwood lines from Anderson Tuftex also caught Newton’s eye. Crafted from white oak harvested in the Appalachian Mountains and manufactured in South Carolina, Kensington and Buckingham are premium, sawn-face, white-oak floors that cater to discerning consumer tastes. “The line has really good looks,” Newton said. “The Anderson Tuftex brand has really come up to speed fast.”
Another show stopper was the True collection from Hallmark. The line incorporates tannins, salt and minerals—combined under high pressure and heat to change the colors—to deliver not only rich, natural colors inspired by barns and riverwoods, but also stains that penetrate through the entire depth of the wood plank. “This means you can sand it and it still remains the same color,” said Sylvia Bulanek, marketing director. “If you scratch these floors, you can easily repair it with our oil finish. You not only get these incredible colors but also the natural depth and richness of the color as well. The grain isn’t hidden by the finish we put on it.”
Other highlights included new longer/wider, premium-sawn face hardwood flooring products from Mohawk. These included three new 3/8-inch-thick x 6 ½ inch-wide collections such as Cherokee Ridge, which complements 2018’s Canyon Lodge; Highland Trench, a maple product available in lighter colorations in gray tones; and Spring Valley, a rotary-peeled oak with a subtle wirebrushed texture and standard micro-bevel edges.
“The goal was to come out with some other products to hit additional price points and updated colors our customers have been asking for,” said Adam Ward, senior director of wood and laminates. “And since it’s made in our Danville, Va., plant, it gives retailers a product out of the U.S. that helps avoid some of those tariff issues. Support Made in the USA products resonates with consumers and retailers alike.
Another standout was Mannington’s Triumph collection, which gives the consumer a mixed species look that still works well together visuals. (Suggested retail price is $8-$10 per square foot. “We wanted to do something that was natural yet subtle,” said Dan Natkin, vice president of wood and laminate. “Here we have white oak, maple and hickory all blended in the carton together (a third each) and we tie them together with the same texture and color across the product. Because each species takes color differently, we diluted the stains so they are very translucent. The color shifts and bends depending on the angle of the wood.”Laminate
The industry’s major laminate flooring suppliers are reaching in the innovation toolbox to develop products to fend off competition from the unrelenting resilient category, particularly LVT. Manufacturers are utilizing technology to bolster the category’s already well-known performance attributes.
Across the show floor retailers were able to see an abundance of laminate flooring products that have eclipsed their predecessors from the early days of laminate in the 90s. Standout products include: CFL’s Atroguard; Mannington’s Restoration collection; Inhaus ultra-realistic, high-performance laminates; and, of course, the ever-expanding and evolving RevWood line from Mohawk (just don’t call it a laminate.).
Suppliers have also made significant advancements in terms of product visuals. More than ever, consumers and retailers alike are hard pressed to tell the difference between real wood and look-alike laminates just by looking at the product. And thanks to innovations in embossing technology and surface ticking, sometimes it’s hard to tell the difference even when a consumer reaches down to touch the floor.Hybrids
Surfaces 2019 also provided the platform to showcase a host of so-called “hybrid” wood floors. These included products like Wellmade Performance Flooring’s Opti-Wood, which features a real wood veneer over a high-density plastic core; and Raintree, an American OEM product featuring a 1.2mm sliced wood veneer over a rigid core, which is then encapsulated with the company’s Ninja PetGuard finish that acts as a sealant that wraps around the pores of the plank’s core. Suppliers say it’s all part of the race to keep up with competing products that offer waterproof capabilities.
As Allie Finkell, vice president, American OEM, put it:“For wood people like us, with our legacy, there’s not a lot of value introducing a WPC type of product in a faux visual, but we feel this is a great opportunity for us to get into that waterproof market while maintaining our legacy and integrity in wood.”
Dealers seem to embrace the technology. “We are excited about the new, real wood waterproof floors,” said Penny Carnino, owner of Grigsby’s Carpet, Tile & Hardwood in Tulsa, Okla. “It gives the consumer that has moisture concerns but wants real wood a product.”


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SA Vs ENG | 3rd Test Jan 16, 2020
SA 60/2 (18.0)
Latest News on Facebook Integration
Showing of 0 - 10 from 7 results
Facebook Integration - Total results - 7
Jul 04, 2013
No Facebook and Flickr integration in Windows 8.1 Photos appMuch to the disappointment of its users, software giant Microsoft seems to have done away with Facebook and Flickr integration in the Photos app in Windows
May 15, 2013
Free Facebook on mobile and messaging top priority for the social networkEver since the launch of the site back in 2004, Facebook has changed the way we perceive and connect with the social network. Nearly ten years later, Facebook
Jan 09, 2013
Firefox update brings 25 percent speed boostMozilla has released a new version of its popular Firefox browser. The new version, Firefox 18, is available for Windows, Mac, Linux and Android....
Nov 21, 2012
Firefox 17 has Social API, Facebook integrationMozilla has jumped onto the Social bandwagon with its latest version of Firefox 17. The release will mark the debut of the Social API, launching with Facebook messenger.
Jun 21, 2012
As devs get iOS 6 in beta, screenshots aboundApple has provided developers with a beta version of iOS 6 and of course, there are some pleased to get the images out there. Some pictures are of course
Sep 16, 2011
Skype for Mac update enables calls to Facebook contactsSkype on Mac just received an update - a newly-released beta version of the popular VoIP service is now available. After adding HD video calling, the latest version, i.e Skype for Mac Beta 5.4 integrates Facebook more deeply into Skype.
Jul 29, 2011
Windows Phone Mango Now Has Twitter IntegrationWindows Phone 7 is definitely going places. It’s doing pretty well what Android and Apple have failed to do so far.


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Seventy workers in Fakenham face Christmas on the dole after the shock announcement that one of the town's supermarkets will close in two weeks. Rainbow Foodstore, in Holt Road, will shut on November 25 after 22 years in the town following the sale of the site to rival low-cost supermarket Lidl, staff have been told. Staff say that Lidl intends to rebuild the store, which is expected to take at least six months, but said they are still waiting find out what job or redundancy offers will be available. A Tesco store opened in the town in August and some customers believe the store is the latest local casualty of the unstoppable march of the supermarket giant.
The manager at the Fakenham store said he was unable to comment but that the co-operative would issue a statement today. No one was available for comment from Lidl.


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DAILY BRIEFING: Monsoon Accessorize founder Peter Simon backs social network Yubl
Expansion drive: Yubl combines messaging, photo sharing and deals
SIMON BACKING Monsoon Accessorize founder Peter Simon is backing a social network planning to raise £20million to expand.
Yubl, which combines messaging, photo sharing and deals, and allows users to vote on an array of topics, was launched in February by Gareth Evans and Jonathan Ellis, one of the creators of 1990s computer game Lemmings.
The firm, which has 150,000 active monthly users, makes money by allowing businesses to interact with its users. It has already raised £16million.
GROWTH OPTIMISM Economists have altered their predictions for Britain's economy, forecasting faster growth after the EU referendum than previously expected.
According to research firm IHS Markit, the UK economy has held up in the immediate aftermath of the vote.
It had forecast GDP growth of 1.6 per cent this year, slowing to just 0.2 per cent in 2017. However it is now lifting this to 1.9 per cent this year and 0.6 per cent next year and around 1.3 per cent in 2018.
It said: 'There are signs the sharp drop in the pound is lifting foreign orders for manufacturing goods and has also encouraged foreign tourists to the UK to buy expensive items such as watches and jewellery.'
ANGLO SELLS Mining giant Anglo American has sold its 70 per cent stake in Foxleigh metallurgical coal mine in Australia to Taurus Funds Management.
Anglo has been selling assets to cut costs in the face of weak commodity prices. It plans to focus on copper, platinum and diamonds, and sell 34 of its 50 mines. Shares closed on Friday up 2.25 per cent, or 18.9p to 858.5p.
GRESHAM STAKE Private equity fund LMS Capital is buying another 4 per cent stake in AIM-listed specialist asset manager Gresham House.
This means it now controls around 14 per cent. Gresham House this month said its strategic public equity fund had raised £24million.
Gresham will manage this fund. LMS Capital's shares rose 0.4 per cent, or 0.25p to 59.25p. Gresham rose 1.5 per cent, or 5p to 332.5p.
SILICON ALLEY The London borough of Croydon is the UK's fastest-growing economy.
A report by accountancy group UHY Hacker Young claimed Croydon was now home to more than 1,000 digital, creative and technology companies, dubbing it the 'Silicon Valley of south London'.
SHOPPING DIP Stores saw a drop in visitors over the bank holiday weekend as sunshine tempted shoppers elsewhere.
Retail research firm Springboard found visits to centres and high streets were down 4.1 per cent on Saturday and Sunday, compared with the same weekend in 2015. However, it also found there was a bounce in visits after 5pm on both days as people came to eat out and socialise.
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‘All Best Days’
Blending laid-back vibes with densely packed scoops and the mantra “All best days,” a new ice cream shop is preparing to open in the Fan. Taking over the shuttered Ever Better cafe space, Westray’s Finest Ice Cream is the brainchild of a Midlothian native who gained his cool chops working at premium purveyors in New York including Van Leeuwen and Oddfellows. (Richmond magazine)
Learning by Doing
After decades in the food and beverage industry, longtime culinary instructor Warren Haskell is stepping out on his own. Bust out those aprons and welcome Kitchen Classroom, the forthcoming destination for hungry and curious Richmonders looking to get educated on everything from knife skills to preparing a Spanish-style steak dinner. (Richmond magazine)
A fan of breakfast all day, writer Genevelyn Steele is an equal-opportunity consumer of the many batter-based options offered on area menus. In this month’s 5 Faves, she tracks down delicious ways to step up to the plate, including crispy-edged classic pancakes at a Scott’s Addition diner and mini Dutch-inspired quick cakes aboard a local food truck. (Richmond magazine)
Make those resos and squeeze in a final visit before Secco Wine Bar — the Fan spot known for a thoughtful pour and ideal accoutrements, bids farewell on April 29. (Richmond magazine)
We caught up with Dayum This Is My Jam owner and founder of Safe Space Market Andy Waller, an entrepreneur with a sushi tattoo, a soft spot for cold brew, and a dedication to supporting the trans and BIPOC communities. (Richmond magazine)
Catch the tail end of Richmond Restaurant Week — celebrating 22 years, the spring edition of the annual event continues through April 24 with dozens of eateries featuring three-course prix fixe menus to benefit Feed More.
Fans of barrel-aged beers and pints that take a walk on the wild side, this weekend Fine Creek Brewing Co. is calling your name. The Powhatan brewery is getting funky with the return of its Wild & Weird Festival. Serving pours from breweries across the state, the sour lineup includes creations from Hardywood Park Craft Brewery, The Veil Brewing Co., Oozlefinch, Bench Top and more. P.S.: I still think about this blackberry-lemon-ricotta pizza from a previous festival, and Fine Creek chef Sara Tocco is offering it as a repeat special.
This weekend, Pizza Bones is hosting a double dose of events with all the ’za your heart desires in between. On Saturday, grab a pal and head to Friend Bar, a gathering presented by the local group Women in Wine RVA; sample four luscious lady-made wines from 5 to 10 p.m. Sunday kicks off a spring market with appearances from area bakers including Olivia Wilson, vendors and more from noon to 5 p.m.
Dom Giannelli of Carytown’s The Jasper recently took home the grand prize at the regional Woodford Reserve Manhattan Experience. Now he heads to Kentucky, where he’ll defend his title as this year’s Virginia champion.
Caffeinated Richmonders, the time has come. Following months of pop-ups, Afterglow Coffee Cooperative, the city’s first employee-owned and -operated coffee biz from Lamplighter alumni, will open the doors of its Scott’s Addition cafe and roastery on Saturday, April 23.
Did two Richmond food businesses make appearances in The New York Times this week? Why, yes, yes, they did.
Hamid Noori, chef and owner of Carytown’s The Mantu, has always felt his purpose was to serve others. We spoke with the Afghan native last fall after he opened the doors of his restaurant to at 10 N. Thompson St. to feed newly arrived evacuees from his homeland. And this week, he was featured among fellow Afghan restaurateurs around Virginia, Maryland and Washington, D.C., who continue to aid fleeing refugees. (The New York Times)
Local sausage producer The Mayor got a special, sizzly nod for its spicy linguiça links, which were declared a grilling season necessity. P.S.: They’re also said to accompany littleneck clams flawlessly and are now available nationally through mail order and wholesale company Heritage Foods. (The New York Times)
- Earth Day With Seasonal Roots, Mise en Place (April 22): A free online class and collaboration with the online farmers market
- Earth Day, Underground Kitchen (April 22): An intimate six-course dinner with wine pairings to celebrate Earth Day
- The Wild and Sweet Plant Sale Spectacular, Wild Urban Farm (April 22-23): Step up your garden game with everything from standard veggies to unique heirlooms.
- Timber Pizza Co. Pop-up, Final Gravity Brewing Co. (April 23): The D.C.-based wood-fired pizza venture returns for another RVA pop-up.
- Second Anniversary Celebration, Crazy Rooster Brewing Company (April 23): The Powhatan brewery celebrates its birthday with special releases, live tunes and bites from El Guapo.
- Community, Mocktails and Learning Session, Bryan Park (April 24): Sip nonalcoholic beverages and hear from local nonprofit NoLef Turns.
- A Little Neighborhood Block Party, Dear Neighbor (April 24): The Church Hill shop unites a handful of vendors, including forthcoming ice cream shop Spotty Dog.
- Smashed RVA Dog Pop-up, Accoutre (April 24): The burger pop-up turns to the dog side — Wagyu hot dogs all ways, from chili-topped to Chicago-style.
- Real Local RVA April Meeting, St. Stephen’s Episcopal Church (April 25): Meet the group’s new executive director.
- Sushi & More, Publix Aprons Cooking School (April 28): Crab rangoon, a surf-and-turf roll and green tea ice cream are on the menu.


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Credibility Of Analysts
(Page 2 of 6)
Failure to get a favorable mention in an analyst report could undermine years of product development. Acceptance, on the other hand, boosts a company's exposure and is essential for buyers drawing up short lists. "Our target market is big companies, so Gartner matters," Vaughan says.
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The IT research and advisory sector has been under pressure for several years as business customers cut back on research spending and turn to cheaper options, resulting in both consolidation and new kinds of services. "There's a lot of free information available," explains Ian Birks, CEO of research firm Ideas International, which two years ago acquired DH Brown Associates.
Gartner, the biggest of IT research companies, last year snapped up Meta Group for $168.3 million, contributing to Gartner's recent growth. Through the first nine months of 2005, its revenue jumped 10% to $699.7 million.
But Gartner's financial statements also reveal a company with ties to the IT industry. The firm invests in hedge funds that hold significant stakes in the companies it covers. One such investment is SI Ventures' SI Venture Fund II. On its Web site, SI Ventures notes a "long-term relationship" with Gartner. SI Ventures helped launch Authentor Systems, which provides network security software. Gartner analysts have been quoted in press releases issued by Authentor supporting the company's approach to security.
Gartner also is partly owned by investment companies that have stakes in tech vendors upon which Gartner is supposed to be casting a neutral eye. Silver Lake Partners, which owns 33% of Gartner, counts Michael Dell, Bill Gates, Larry Ellison, and other tech-industry shakers among its current or former investors. Hedge fund ValueAct Capital owns more than 16% of Gartner and has owned as much as 11% of MSC Software, which Gartner views as a "challenger" in the market for product life-cycle-management software.
While Gartner's investors may not wield direct influence over the firm's product rankings, they do help dictate the company's leadership. Silver Lake and ValueAct, Gartner acknowledges in a Securities and Exchange Commission filing, "may be able to, either individually or together, exercise significant influence on matters requiring stockholder approval." Such matters would include approval of Gartner's senior executives.
This doesn't mean IT research isn't valuable to many people; thousands of user companies subscribe to research services. Here at InformationWeek, editors regularly talk to analysts to get their perspective on technology trends and forecasts. (InformationWeek also receives millions of dollars in advertising and custom-publishing revenue from technology companies, but ads and "advertorials" are clearly marked and do not involve the editorial staff.)
Gartner's Quadrant for the security information- and event-management market helped Bruce Forman, director of information security at Genesis HealthCare, ensure that he didn't miss any key vendors when he was researching the technology. "It's hard to stay up on this stuff," he says.


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Investors are closely watching for any signs that the rise in the cost of living during the pandemic may be starting to subside, with the Wells Fargo Investment Institute among financial firms pointing out possibility of relief in front.
“Inflation is in the process of peaking,” Scott Wren, senior global market strategist at Wells Fargo Investment Institute, told MarketWatch in a phone interview. The recent drop in the price of raw materials for finished products could be an indication of that, he said, as the rise and fall in finished product costs often drags on the prices of raw materials with a lag.
Raw material prices may have “peaked,” says Wren, referring to the chart in this week’s Wells Fargo Investment Institute report (see below).
Changes in raw material prices tend to predict consumer inflation over the next 12 months, according to a report by Wren and Paul Christopher, head of global market strategy at Wells Fargo Investment Institute.
“If broad trends continue, we expect consumer inflation to slow somewhat by mid-year and materially into late 2022,” wrote Wren and Christopher. “For example, lumber, copper and soybean prices are significantly lower than they were at the start of the year and are holding.”
down 2% to $4,266 per pound. That’s below the more than $4.70 price tag seen between October and May for the industrial metal, but still higher than it was in early 2021 when copper was quoted below $4 a pound.
US inflation spiked in October, pushing annual rate up 31-year high was 6.2%, as measured by the consumer price index. Meanwhile, the increase in producer price index in October indicates a high 12-month wholesale inflation rate – but flat – about 8.6%.
While the higher cost of living, as measured by the CPI, is likely to remain on the rise next year, Wren says it may be “in the process of picking up”. Wells Fargo is currently estimating that the inflation rate could slow to around 4% next year, he told MarketWatch.
In another sign that inflation may be easing, “from the supplier side, factories in Asia are reopening and some shipping costs are peaking,” Wren and Christopher written in Wells Fargo’s note.
Frost Investment Advisors also pointed out that shipping costs are falling in a recent report.
“We are seeing some early signs that the trade bottlenecks may be easing a bit,” Frost said in his note on news and market sentiment for the week. November 8, “While the number of vessels moored off the coast of California awaiting discharge remains very high, freight rates appear to be consolidating, both for containers and for trucking.”
While rates remained “fairly high,” Frost said “any improvement is welcome.”
The evolution of inflation is important to investors as it is “one of the most prominent risks facing portfolios today,” according to the Wells Fargo report. “We believe inflation will moderate in 2022, but we expect the path to de-inflation will start with higher inflation in the first half of the year.”
To position the tactic for the next year and a half, see it as “above-average inflation,” Wren said by phone that “we want to look toward a recovery” and into cyclical sectors like industrials. , commodities and finance. As for the energy sector, Wells Fargo recently transitioned to a “even” weight from being overweight, he said, explaining that energy has seen “a pretty big development.”
“So we took some money off the table there,” he said.
Energy Sector of the S&P 500
fell sharply on Wednesday, but is still up more than 50% so far this year, FactSet data shows.
As Wells Fargo notes, the commodity and cyclical equity sectors will “perform better with near-peak growth and inflation.” “The areas that we would like to tactically avoid are those that we expect to underperform amid a strong economy, rising interest rates and low inflation. An important example is long-term fixed income”.
Wren and Christopher also cite their “unfavorable assessment of short-term fixed income as investors assess the Federal Reserve’s eventual response to inflation.”
Although the Fed has maintained that higher inflation will be “transient,” LPL Financial’s asset allocation strategist Barry Gilbert said in a note. Research report This week, the peak may still be ahead amid “supply chain challenges and tightening labor market combined with high demand as the global economy recovers” during the pandemic.
But market participants needn’t wait until the CPI goes back below 3% to feel some relief. “Just knowing that we’re past the peak, something that probably won’t happen until 2022 is enough.”
In addition to supply chain concerns as well as energy and commodity prices, Gilbert said investors should watch for signs that housing costs may be stabilizing.
“Shelter does not include energy costs, which are essentially housing and rent costs, which account for about a third of the CPI and just over 40% of the core CPI (excluding food and energy),” he wrote. quantity). “House costs have skyrocketed over the past three months and housing inflation is a concern – both because it accounts for a high percentage of consumer spending and because it tends to be relatively underwhelming.” .
He suggests that a “continuous monthly reading near 0.3% would be a good sign that housing costs have stabilized,” although at that level costs could continue to climb year on year. in the first few months of 2022. “But if housing costs rise and consumer expectations Gilbert said.
Read: Bullard said
https://www.marketwatch.com/story/inflation-in-process-of-peaking-but-still-poses-threat-to-investor-portfolios-says-wells-fargo-11637187467?rss=1&siteid=rss | According to Wells Fargo, inflation is “in the process of peaking” but still threatens investors’ portfolios.


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Video source: YouTube, CBS Evening News
Skippy Foods has issued a voluntary recall of over 9,000 cases of reduced fat peanut butter that total 161,692 pounds of the sandwich staple.
The company, a unit of Hormel Foods ( Chart HRL - $38.65 0.70 (1.845%) ), is the second largest seller of peanut butter worldwide.
According to the Food and Drug Administration, Skippy is recalling four different lines of the peanut butter due to the possibility that some jars may contain small fragment of stainless steel from a piece of manufacturing equipment
The recall includes these specific lines:
There have been no consumer complaints as yet. The products were sold in 18 states: California, Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Kansas, Massachusetts, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, New Jersey, New York, Oklahoma and Wisconsin.
Any consumers who have these peanut butter products should return them to their retailer for an exchange.
Alternatively, consumers may call Skippy Foods Consumer Engagement at 1-866-475-4779 or visit the website at www.peanutbutter.com.
Source: Equities News


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JPMorgan Chase disclosed Thursday that about 76 million households and 7 million small businesses had data compromised.
The company, however, stated there is no evidence the breach impacted customer account numbers, passwords, user IDs, dates of birth or Social Security numbers.
Rather, the data includes names, addresses, phone numbers and email addresses, according to the company.
JPMorgan Chase customers are not liable for unauthorized transactions on their accounts if they promptly alert the company, according to the Securities and Exchange Commission filing. To date, JPMorgan Chase reported it had not seen any unusual customer fraud related to the breach.
"The Firm continues to vigilantly monitor the situation and is continuing to investigate the matter," the company reported. "In addition, the Firm is fully cooperating with government agencies in connection with their investigations."


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It was a merry holiday season for retailers. U.S. retail sales, excluding autos and gasoline, rose 7.9 percent year-over-year from Black Friday to Christmas Eve, according to data released Monday from MasterCard Advisors. ‘It absolutely was a happy h
More Americans had their backgrounds checked purchasing guns on Black Friday than any day on record, according to data released by the FBI this week. The National Instant Criminal Background Check System processed 185,345 requests on Nov. 27.
When we stand in line, it's not just the length of time we hate, it's the anxiety, uncertainty and boredom that goes along with it. Some companies and researchers are looking for ways to make waiting in line a little less painful.
Stocks ended a choppy session modestly lower as the retail sector continued to drag on the benchmark indexes. Retailers such as Walmart (WMT) and Costco (COST) tumbled on signs of weaker sales over Black Friday and Cyber Monday. FitBit (FIT) was an o
The holiday shipping season should be good for FedEx’s (FDX) bottom line, with the company projecting record volume this year. FedEx expects to ship 317 million packages between Black Friday and Christmas Eve, which represents a 12.4% increase in vol


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WASHINGTON — Dramatic US government test results raise new concern that bulk shipments of rechargeable lithium batteries carried as cargo on passenger planes are susceptible to fires or explosions that could destroy the airliners.
Yet US and international officials have been slow to adopt safety restrictions that might affect the industries that depend on the batteries and the airlines that profit from shipping them. The batteries are used in products ranging from cellphones and laptops to hybrid cars.
Shipments of rechargeable batteries on passenger planes are supposed to be limited to no more than a handful in one box, under safety standards set by the UN’s International Civil Aviation Organization and adopted by the United States and others. But a loophole lets shippers pack many small boxes in one shipment and get around the rules. Tens of thousands of the batteries may be packed into pallets or containers and loaded into the cargo holds of wide-body passenger planes.
In an April test by the Federal Aviation Administration, a cargo container was packed with 5,000 lithium-ion batteries and a cartridge heater added to simulate a single battery experiencing uncontrolled overheating. The heat from the cartridge triggered escalating overheating in nearby batteries, which spread in a chain reaction. Temperatures reached about 1,100 degrees Fahrenheit.
Once about 300 batteries were involved, a fierce explosion blew open the container door and sent boxes flying, surprising FAA and industry observers. Within seconds, the cargo container was in flames. The explosion came from a buildup of flammable gases.
A second test in September produced similar results, despite the addition of a fire suppression agent. Safety authorities have long known that lithium-ion batteries can fuel violent fires if they are defective, damaged, overcharged, incorrectly packaged, or exposed to extreme heat. But they have been allowed to be shipped on passenger planes because it was thought the halon gas fire suppression systems in the cargo compartments of airliners could extinguish any fire.
The container tests have raised a new worry: that an explosion could increase pressure in the cargo hold, activating depressurization valves that would let halon gas and smoke vent into the passenger cabin and cockpit. That would dilute fire suppression in the hold and let a fire rage unchecked.
The cargo problem is distinct from one that caused a fire at Logan International Airport two years ago in a lithium-ion battery installed in the operating system of a Boeing 787. In that case, Boeing failed to anticipate that a short circuit in one of the battery’s eight cells could spread to other cells and ignite a fire, the National Transportation Safety Board said Monday.
The UN’s civil aviation agency is considering proposals to strengthen packaging, labeling, and handling standards for lithium-ion battery shipments, and airline pilot unions are pushing for limits on the number of batteries that can be transported. No consensus emerged at an October meeting in Brazil, and any changes aren’t expected to take effect until 2017.
An airliner might withstand a fire generated by a small number of lithium-ion batteries, but a fire involving many of them could destroy the plane, said Paul Rohrbach, systems engineer for aircraft maker Airbus.


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Bears got severely burned with Tesla shares up 730 per cent this year
With shares up 730 per cent, Tesla bears have seen more than $38 billion in mark-to-market losses this year, according to data from S3 Partners. By comparison, the next-biggest loss for short sellers was on Apple Inc., at just under US$7 billion, S3 data shows.
This “is not only the largest mark-to-market loss for any stock this year, it is the largest yearly mark-to-market loss I have ever seen,” said Ihor Dusaniwsky, a managing director at S3 Partners.
Tesla didn’t respond to a request for comment.
For now, the electric carmaker and its investors, small and large, have the upper hand against a group of short sellers that have come to be known as TSLAQ — Q being the character exchanges tack onto a stock ticker after a company files for bankruptcy.
Many of Tesla’s short sellers have closed out their positions over the course of 2020, with short interest falling to 6 per cent of the float from nearly 20 per cent a year ago, according to S3 data.
Tesla’s shares soared this year as it notched five consecutive quarters of profits and amid growing sentiment on Wall Street that the shift toward electric vehicles is accelerating. The company was added to the S&P 500 Index on Dec. 21 and several smaller EV stocks have rallied along with it.
The next potential catalyst comes in early January, when Tesla reports fourth-quarter vehicle production and delivery figures. Tesla expects to deliver half a million cars in 2020, a huge milestone for a company that initially struggled to mass-produce its Model 3 and is now building additional factories in Berlin and Austin, Texas.
In July, Chief Executive Officer Musk tweaked the noses of Tesla critics by selling limited-edition red-satin shorts with the company’s logo — or what he called “short shorts.” Fans have posted pictures of themselves wearing them as Tesla’s stock has rallied, and Musk tweeted a picture of a pair as a Christmas greeting.
Musk, who with an 18 per cent stake is Tesla’s largest shareholder, has seen his own wealth balloon this year. He’s now the second-richest person on the planet after Jeff Bezos of Amazon.com Inc.
Source: Financial Post
Image Source: Tesla
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When choosing a collectibles niche to invest your passion into, it’s worth choosing one that has an edge above all others.
And this can certainly be said of war medals. Of all the types of collectibles on the markets, none captures history more poignantly.
Medals symbolise heroism, loyalty and accomplishment better than anything else. It isn’t for nothing that the global collectible medals markets have been estimated at $33m per annum.
Even better, anyone can begin a medal collection. You can pick up some examples at flea markets, while others can sell for millions.
Another fine ‘million dollar’ example has emerged on the markets this week. It’s a real “first” for the medals market – with something as history-orientated as medals, you don’t get many firsts.
This Thursday will see the first-ever auctioning of an Australian Victoria Cross from World War Two. Of course, other examples have sold before for hundreds of thousands.
But this is the first WW2 example awarded to an Australian available to collectors, and is one of only 22 Australian World War II VCs.
With this in mind, it’s perhaps unsurprising that the medal carries a $1m estimate.
VCs are the big prize among medal collectors. It remains the highest decoration for bravery awarded in Britain and the Commonwealth, specifically for valour in the face of the enemy.
But “valour” doesn’t seem like a strong enough word to describe the actions of Australian Ted Kenna – although the same can be said of all VC winners.
Ted Kenna’s 10 medals, including the Victoria Cross, will appear with a $1m pre-sale estimate
Kenna’s feats included single-handedly taking out a Japanese machine gun post… and doing the same again two weeks later, receiving an almost-fatal bullet to his jaw.
Ted Kenna died last year, which is why his medal has only just appeared on the market.
At least the $1m valuation should ensure that the medal goes to a good home. One person who you can be sure will have his eyes on it is Lord Michael Ashcroft.
Like all the best collectors, Ashcroft isn’t just a mere custodian of the world’s largest collection of VCs, but is also on a one-man crusade to ensure history’s VC-commemorated heroes aren’t forgotten about.
The Victoria Cross is the highest British and Commonwealth honour for valour in the face of the enemy
Ashcroft’s collection actually began back in 1986 at Sotheby’s, when he purchased the midget submarine VC group of Leading Seaman James Magennis of the Royal Navy for £31,000 above its £26,000 high sale estimate.
At the time, Ashcroft described his purchase as the fulfilment of “a boyhood ambition to own… Britain’s premier bravery award.”
The desire of other collectors around the world to fulfil their ‘boyhood ambitions’ will certainly make this sale one to watch at Noble Numismatics on Thursday (July 28).
Find out how you can benefit from collecting medals by visiting Paul Fraser Collectibles’ special pages.


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The World Trade Organization (WTO), under unanimous agreement, has agreed to give poor nations greater access to inexpensive lifesaving medicine by altering international trade rules.
Under the agreement, poor countries will be able to import generic versions of patented drugs, purchasing them from countries such as India and Brazil without running into conflict of trade laws protecting patent rights. For years, African countries and their supporters in nonprofit health groups have been fighting for such an agreement, saying that moral and political arguments outweigh commercial considerations in the face of AIDS, malaria, and tuberculosis.
?This will absolutely save millions of lives that would be lost without it,? said Faizel Ismail, South Africa?s permanent representative at the WTO (as reported in the New York Times).
The accord was made possible after the United States agreed to the original proposal it had rejected last December but included the demand that such generic medicines could be imported to cure any life-threatening disease, so long as it was a public health emergency. The Bush administration had prevented the WTO from adopting the measure, stating that it should be restricted to a handful of diseases and limited to certain countries.
?The final piece of the jigsaw puzzle has fallen into place,? said Supachai Panitchpakdi, director general of WTO. ?It proves once and for all that the organization can handle humanitarian as well as trade concerns.?


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Didi shares gain 1% after early jump in Wall Street debut
BEIJING (AP) — Didi Global, a Chinese ride-hailing service, rose 1% after making its U.S. stock market debut. The stock opened at $16.65 on the New York Stock Exchange, up 16%, but gave up most of the gains as trading progressed. The initial public offering of 288 million shares was priced at $14 a share. Didi said it aimed to spend 30% on technology development, another 30% to expand outside China and 20% on new products. Didi’s U.S. market debut came a day after it posted a loss of $5.5 billion over the past three years, though the company also touted its global reach and investments in developing electric and self-driving cars.


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The Warrell Corp. announced several leadership changes in the new year, including a new executive v.p.
Kevin Silva was promoted to executive v.p., reporting to Patrick Huffman, president. Silva's responsibilities will expand to oversee all departmental operations.
The family-owned confectionery manufacturer, now celebrating its 50th year, made the changes according to the management succession plan it released in 2014.
Silva has been with Warrell for more than 23 years. His past leadership roles include the Pennsylvania Dutch Candies division, supply chain management, quality assurance and customer service and administration. He holds a BA in Economics from Gettysburg College and earned his MBA from Pennsylvania State University's Smeal College of Business in 2012.
Silva will oversee other Warrell executive team members, some of whom are taking on new roles:
Robert Bard, v.p. of operations. Bard joins Warrell this year with more than 23 years of experience in the manufacturing business. He will direct Warrell's manufacturing, maintenance, engineering and supply chain management.
Richard Warrell, second-generation family owner and v.p. of sales and marketing. Warrell will oversee sales and marketing, customer service, client support and product development.
Susan Tandle, v.p. of administration and organizational development and former human resources manager. Tandle will continue to supervise Warrell's human resources department and administrative programs while leading the company's
continuous improvement and strategic planning efforts and total quality programs.
Osher Yam, cfo and v.p. of finance and information technology. Yam will continue his responsibilities for the finance and information technology departments.


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AST Plastic Containers, a leading manufacturer of high-quality plastic containers based in North Wales, has increased its production by 20% to aid its cleaning and sanitising clients to meet the demand for their products due to the current global COVID-19 pandemic.
The company, based on the Wrexham industrial estate, has seen a surge in demand for its 5 and 10 litre plastic containers and is manufacturing 100,000 more a month.
AST Plastics has also increased its production staff by 25% from 16 to 20 employees on the shop floor in order to make the extra products.
The plastic containers are being used by UK-based companies to transport their cleaning and sanitising products to critical services such as the NHS.
The production line works 24/7 from its UK base in Wrexham whilst following the government guidelines of social distancing by keeping 2 metres away from colleagues, as well as regular hand washing and the use of hand sanitiser gel.
Matthias Hochholzer, Managing Director of AST Plastic Containers in the UK, comments: “We are pleased with the small part we can play in delivering essential fluids like hand sanitiser, cleaning liquids and detergents to those that need it the most at this challenging time.
“Day to day, most people don’t think about the supply chain that’s involved in delivering a product to an end point, but I think the current pandemic is highlighting various roles that previously were more behind the scenes such as manufacturers and transportation.”
AST Plastic Containers is a leading manufacturer of high-quality plastic containers. With UK headquarters in Wrexham, the company is a market leader in the design and manufacture of plastic containers and caps for use in a range of sectors including the food, chemical and pharmaceutical industries. The company manufacturers from six sites across Europe and distributes more than 100 million units a year to customers in more than 15 countries.


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LONDON — Chip designer ARM said its rival Intel (INTC) had made a credible debut in smartphones, but the British company’s better technology and the size of its partner network meant it would remain dominant in the hot sector.
Intel, in turn, dominates the PC market, helped in no small part by Microsoft basing Windows on its x86 architecture, but its chips have failed to make inroads in mobile where battery life is critical.
The U.S. company hopes that will change with the recent launch of handsets in China, India and last week in Europe, based on its Atom processor and backed by operator Orange .
Warren East, chief executive of Cambridge-based ARM, said Intel’s phones were still a couple of generations behind the latest ARM-based smartphones.
“I’ve played with the (Indian) phone and it’s a very good phone,” East told the Reuters Media and Technology Summit.
“It’s very comparable with the Apple 3G (launched in 2008) in terms of browsing speed, and ease of user interface and so on.”
But he did not perceive Intel “as a huge threat”.
“We’ve been saying Intel will gain some share in the smartphone space,” he said in London.
“However, we think it will be not be vast because they will be one of 20 companies supplying into that space, the others have the advantage of using the ARM architecture, and the last 10-15 years has been spent developing a very strong ecosystem around that architecture.”
He said Intel were catching up in making microprocessors more efficient, but the ARM world continued to move ahead.
East said ARM was working on the assumption that Intel would gain about 10 percent of the smartphone apps processor market in two to four years. “In a few years time, it will settle out at some number but we do not think it’s going to be much bigger than that,” he said.
ARM’s blueprints are licensed to chipmakers, such as Samsung and Qualcomm, which in turn pay a small royalty of 1-2 percent of the shipping price per chip.
Electronics manufacturers and software designers also license the British firm’s technology, with the result that development costs are spread across the industry.
While Intel could gain ground in smartphones, ARM is moving in the other direction into Intel’s territory.
Later this year, PCs based on ARM’s architecture will launch, a milestone enabled by Microsoft configuring its Windows operating system for ARM’s architecture for the first time, enabling it to capture a chunk of the tablet market.
East said an added benefit of Microsoft’s decision was that it opened the PC market up to ARM architecture.
“We don’t see why in due course we shouldn’t have a large share (of the PC market),” he said. “We are anticipating 10 percent, probably 20 percent in a few years, but why we should be able to go further is the business model.
“In the ARM world you have 20 or so companies supplying apps processors into smartphones at the moment, and PC and smartphone functionality is becoming increasing similar: the chips are basically the same chips.”
He said the launch later this year would be fairly muted, with around half a dozen products initially on sale.
“I think for the launch and 2012, the important thing is proving the concept,” he said.
“But Microsoft has a fantastic track record: virtually every PC on the planet is running Windows and I have no reason to doubt they won’t be able to do the same thing with an ARM-based version.”


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XPeng Huitian (HT Aero) shares a video of its eVTOL prototype moving around like a car in the air. The taking off of the vehicle and many things like steering were shown in the video. The developments indicate that the company is moving forward to reaching its promise to deliver “Flying cars” by 2024.
HT Aero is the rebranded name of XPeng Huitian, a majority-owned entity of XPeng Inc. and founder He Xiaopeng. Since its foundation in 2013, HT Aero has conducted over 15,000 safely manned flights with the goal of combining automotive and aerospace technologies to develop safe, domestic electric flying vehicles at scale. This began with the T1 eVTOL (electric vertical takeoff and landing) vehicle in 2019, followed by the X1 in 2020, which appears to be the model demonstrated in the video below, given that it doesn’t have a roof like the X2.
Speaking of which, the X2 is the company’s fifth-generation “flying car.” Although it doesn’t have wheels, HT Aero refers to the X2 as a flying car, because it shares much of the same design DNA as the XPeng P7 sedan. XPeng’s HT Aero has already shared video footage testing the X2 in extreme environments and high altitudes as it works toward delivering its sixth-generation model. This actual flying car was unveiled this past October and is scheduled to arrive in 2024 and only cost about $155,000.
The latest flying car video was posted to the XPeng Huitian/HT Aero Weibo page on Wednesday, along with the following caption. “Many students are curious about how to operate a flying car. Huitian students are also actively exploring and experimenting. We hope that the final driving mode is as simple and easy to learn as a car. We are constantly experimenting with the ‘flying car control logic’ that integrates land and air to verify its feasibility; at the same time, we are also exploring other possible control methods.”
The eVTOL prototype is equipped with an XPeng Motors branded steering wheel, in addition, to a throttle on the right. It looks like the pilot uses the throttle to control movement flying up, down, forward, and reverse then uses the traditional car steering to move left and right. The footage does show promising progress in electrified flight and HT Aero is taking a unique approach to the design that is definitely more car-like. The steering wheel is a dead giveaway. The company has already bought the idea of having flying cars for its potential customers. Now the vehicle is only left to be delivered as they are working on completing the development of the vehicle.


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News Corp. has reached a deal to let Facebook Inc. feature headlines from The Wall Street Journal and other Dow Jones media properties, reports Lukas I. Alpert of The Journal.
Alpert writes, “The deal, for which News Corp will be paid a licensing fee, presented some obstacles due to the Journal’s firm digital subscription business model, people familiar with the matter said. Now that the issue has been settled, the way is cleared for the product to launch by as early as the end of the month. The financial terms of the arrangement weren’t disclosed.
“The licensing fees Facebook is offering range from the hundreds of thousands of dollars per year for smaller publishers to a few million for bigger ones, and substantially higher than that for the very largest outlets, according to people familiar with the matter.
“‘People want to see high quality news on Facebook,’ said Mark Zuckerberg, the company’s founder and chief executive. ‘I’m excited we’ll have the opportunity to include award-winning journalism from The Wall Street Journal [and other U.S. News Corp properties] in our news tab.'”
Read more here.


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Sundial Growers Inc. beat analyst expectations on revenue, but posted a worse adjusted EBITDA loss than expected, partly due to $8-million worth of oil that the company sold at a loss.
The Alberta cannabis grower said Wednesday it did $33.5-million in sales in its third quarter, up 40 per cent from $19.3-million the preceding quarter, and ahead of many of its more established peers. Of this, $28-million came from cannabis sales: $25.8-million to other LPs on a wholesale basis and $2.9-million to provincial buyers as branded product. The other $5-million came from flower and herb sales from Bridge Farms, a U.K.-based greenhouse company that Sundial acquired in July.
The company’s adjusted EBITDA loss was $7.9-million, considerably higher than analysts expected. Sundial said this was due to a number of non-recurring costs related to its IPO, its acquisition of Bridge Farms and inventory management. It also posted a net loss of $97.5-million, which was largely due to the cost of buying out a royalty agreement it had signed with its executive chairman.
Here are key takeaways from the analyst call:
Negative oil margins
The most striking admission on the call was that Sundial actually lost money on its $8-million in oil sales. The company sent 3,100 kilograms of cannabis flower and trim to a third-party extractor. By the time it sold the product, Sundial had paid more to grow and process the cannabis than it could earn selling the oil.
"It was very slightly negative, under 10 per cent negative margin. So essentially a break even,” said Sundial CFO Jim Keough. “And that includes the cost of the bulk cannabis and the third-party extraction, which added a relatively significant cost to it.”
Sundial’s CEO Torsten Kuenzlen said the company pursued the negative-margin extraction as a way to manage older inventory.
"In the future as we in-source extraction obviously that creates more margin flexibility. This is not something that we're planning to do on an ongoing basis, it was a one-time adjustment to inventory," he said.
Maintaining wholesale numbers
While other LPs appear to be having difficulty in the LP-to-LP market, Sundial managed to post strong wholesale revenue growth. When asked how, Mr. Kuenzlen said that Sundial’s product was simply superior to most other product available.
“The reason why we’re continuing to sell really well to other LPs is that the quality that we can consistently deliver, many of the facilities in the country are simply not equipped for. And if some of the LPs have either reduced their own growing and or require certain products at quality levels or quantities or consistencies that they have committed to [provincial] boards and can’t meet, they are looking for the few people who can grow at scale consistently at high quality,” he said.
Move to branded sales
While most of Sundial’s sales are in the wholesale market, Mr. Kuenzlen said the company is shifting toward the branded recreational channel. Ahead of that pivot, Sundial has moved from growing only one strain – Shiskaberry – to growing 19 different strains.
"We expect up to 50 per cent of our product being sold through the provincial board channels in multiple brands and product forms by the middle of 2020," Mr. Kuenzlen said.
Buying out the executive chairman
The largest component of the company’s $97.5-million net loss was the cost of buying out a royalty agreement that the company had signed with its executive chairman Ted Hellard. The company recorded this transaction as a $59.6-million loss.
“With the exception of a cash payment of $9.5 million, the consideration paid by Sundial in this transaction was non-cash. The transaction eliminated a 10-year cash royalty obligation of 6.5 per cent of gross sales from certain portions of the Olds facility," Mr. Keough said.
Sell-in to AGLC slows
The company increased its overall sales into the rec market by expanding into new provinces. However, its sell-in to the AGLC slowed in the quarter. Mr. Kuenzlen explained it this way: “The initial inventory build was obviously significant… [Now] the inventory levels in general of the provincial boards have come down a little bit as they have more SKUs, so while the sell-through is positive, the sell-in in Alberta specifically in the third quarter was down a little bit.”
Shiskaberry’s falling popularity
Sundial focused exclusively on the shiskaberry strain to begin with. Now it’s moving away from the strain due to overproduction across the industry.
"When we look at shiskaberry as a whole, demand across the board is dropping, regardless of LP or provincial board,” said Ryan Hellard, the company’s chief experience officer.
“It was a strain that was widely available virtually by every company, because it is one of these strains that was initially available under the ACMPR, and therefore was widely distributed. Basically the boards have more than enough of it to last them, so at this point, really the demand for it is very low. And I think that’s passing through to the consumers. As the number of strains grew, demand for different genetics just became higher,” Mr Hellard said.