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HowStuffWorks is going long — and making money — with Amazon video
Thanks to Amazon, HowStuffWorks is investing in long-form video.
In March, HowStuffWorks, the publisher best known for informational and nonfiction articles, videos and podcasts, released eight documentaries on Amazon Prime. This included a 55-minute film called “The Great North American Road Rally,” which features the hosts of HowStuffWork’s “CarStuff” video series as they race across eight states in three days. The seven other documentary features, all of which are available exclusively on Amazon, are in the 10- to 20-minute range.
“When we launched on Amazon as part of their Video Direct program, we did not know a lot about their audience and consumption habits,” said Jason Hoch, chief content officer at HowStuffWorks. “But what we heard from Amazon was that people like more long-form versus short-form — this is not YouTube — and they love documentary-style programming.”
Amazon’s Video Direct program was launched by the company last year to give publishers and digital video creators the chance to put their work on Amazon Prime. Members have multiple distribution options, including the ability to directly upload videos to the Amazon Prime Video subscription streaming service, make them available for free with ads, and sell videos individually for purchase or rental.
As a launch partner for the Video Direct program, HowStuffWorks initially uploaded roughly 400 short-form clips. It now has more than 500 videos available for both Prime subscribers and for free. While Hoch declined to provide specific viewership figures, he said viewership for HowStuffWorks’ library videos and exclusive documentaries “heavily leans” toward Prime members versus the free option. “It’s early, but the total number of minutes consumed on the platform has gone way up for us since we have gone in on long-form,” Hoch said.
As with other publishers self-distributing on Amazon through Video Direct, HowStuffWorks is making money off this content. Amazon pays video owners 15 cents for every hour of content streamed within Prime in the U.S., and 6 cents per hour internationally. Amazon also gives 55 percent of all ad revenue generated from freely distributed videos. Hoch declined to give specific revenue figures but said in the past it’s occasionally been comparable to YouTube, where HowStuffWorks has nine channels.
HowStuffWorks has also consistently placed in the top 20 of Amazon’s Video Direct Stars program, which sets aside $1 million to pay video owners based on the top-performing titles on the streaming platform.
“We feel great about the content,” Hoch said. “We’re evaluating what it all means in terms of building a sustainable business and long-term strategy.”
At least for the foreseeable future, HowStuffWorks plans to put out more exclusive long-form videos on Amazon — but it’s not diving in headfirst without a strategy.
“I’m resisting the temptation to just say more is better,” Hoch said. “The difference in approach to short-form versus long-form, and how you put these stories together, is much more complicated with long-form, which requires more planning and thought — ‘Road Rally’ involved sorting and organizing over 30 hours of raw footage and interviews.”
HowStuffWorks is also encouraged by the fact that it’s already producing other types of content that people are willing to spend time with — podcasts.
A recent study by Edison Research said that regular podcast listeners are more likely to subscribe to Amazon Prime, Netflix and Hulu than the rest of the U.S. population.
“User habits are changing,” Hoch said. “On-demand users are willing to consume content at their own pace. There’s commonalities between these platforms, between video and audio, even if the formats themselves are so different.”
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Falling Yuan threatens Indian prospects amidst the Sino-US trade war
The trade war between the United States and China entered a more critical phase last week as Beijing allowed its currency to further weaken. The falling Yuan has become a major concern for not only the US but also the rest of the world. Lower Yuan will help China dump more of its exports on other economies. Export to China will be more difficult. President Trump's Treasury Department has formally labelled China a 'currency manipulator' as Chinese enterprises have stopped making fresh purchases of farm products from the US. In so far as India is concerned, lower Yuan may further flood Chinese goods into the Indian market and adversely impact the country's economic growth and Prime Minister Narendra Modi's 'make-in-India' drive. The Indian economy is already showing an uncomfortable downtrend since October 2018. The official data released by China's Customs Department showed India's trade deficit with China in 2018 climbed to $57.86 billion from $51.72 billion in 2017. The two-way trade in the first five months of the current year has, however, declined by 3.5 per cent year-on-year amounting to $36.87 billion. By manipulating Yuan, China could push more exports to India. Conversely, India's limited access to
China's market will face a further strain. Cheaper Chinese products can also outpace India's imports from other markets while India's efforts to raise exports to China will be more difficult to accomplish.
The falling Yuan has also shaken the world stock markets, including India. As a result, the benchmark BSE and NSE indices failed to respond positively to RBI's unconventional 35-basis-point (0.35 per cent) cut in interest rates, last Wednesday, with the Sensex closing 286 points lower at 36,690—a five-month low for the index. There was across the board selling. Though the markets picked up on Thursday and Friday, investors are concerned about RBI's decision to lower the GDP growth rate for 2019-20. Nervous
foreign portfolio investors (FPIs) are looking for safe places to park their money. Incidentally, Wall Street suffered its worst day of the year on August 5, with the S&P 500 closing nearly 3 per cent down. Selling was especially heavy in the trade-sensitive technology, consumer discretionary and industrial sectors. Yields on United States Treasuries, which fall as prices rise, dropped as investors sought safety in government-backed bonds. Benchmark indexes in Asia and Europe also fell. On August 4, the People's Bank of China, the country's central bank, took steps to limit the impact of President Trump's next round of tariffs by letting its currency weaken past the psychologically important point of seven Renminbi to a US Dollar for the first time in more than a decade. A weaker Yuan will make Chinese goods cheaper to sell abroad, allowing businesses and consumers to help offset the additional tariffs the US plans to impose on September 1. It also harms all exporting nations, including India, that are trying to compete with China.
China's People's Bank put the blame for the fall in Yuan's exchange rate on
President Trump's "unilateralism and trade protectionism measures and the imposition of increased tariffs on China". The country's state-run Xinhua News Agency called the president's move a "serious violation" of an agreement reached only last June with President Xi Jinping. China did not take lightly the US Treasury Department's latest label on China as a 'currency manipulator', for the first time in the last 25 years. In a statement, the US Treasury said it "will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China's latest actions". On its part, the US may further raise import tariffs to negate the impact of Yuan downslide to restrict the entry of products from China. Can India also raise imports duties to check further entry of Chinese goods in the Indian market?
Hopefully, India's finance and commerce ministries have initiated preparations to assess the full impact of the Yuan devaluation on the country's imports, the trade balance with China, and, more importantly on the country's falling economic growth trend. India can't afford to remain a silent spectator to China's latest round of currency intervention and let its market be further swamped by 'made-in-China' products. It is universally well recognised that behind China's massive export growth and economic surge over the years has been its centrally-controlled economic policy that held down the value of its currency for many years.
Lower Yuan also poses a major threat to India's ambition to become a $5-trillion economy in another five years. The latest slowdown in India's economic growth rate has already proved wrong the Union Finance Minister, Nirmala Sitharaman's claim during her 2019-20 budget presentation that the country has become the world's sixth-largest economy. According to the latest World Bank data, India has slipped back to the 7th position in the global GDP rankings in 2018, marginally behind the UK and France. As per an earlier data, India was on the sixth position in 2017, ahead of France (GDP: $2.582 trillion). A new data suggested that India was, in fact, the fifth-largest economy ahead of even the UK. India's GDP was at $2.65 trillion, while the UK's was at $2.64 trillion, followed by France at $2.5 trillion in 2017. The question now is: what happens to India's economic growth linked with its $800-billion-plus foreign trade and a record trade deficit of $176 billion in
2018-19, over 30 per cent of which was on account of China trade? India is already worried about the impact of Brexit, which comes into effect in another two months, on its economy and foreign trade. The country needs to work out a strong strategy that will protect its economy and growth against external financial and trade aggressions. IPA
(The views expressed are strictly personal)

domain: news


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Publisher Namco Networks has selected Live Gamer's microtransactions platform Elements to power online payments and more for its social games and virtual items-based projects.
Namco plans to first implement the virtual economy platform into its upcoming Facebook title Hamster Pirates
, which launches this fall. Elements will power the game's virtual goods merchandising, analytics, virtual item gifting, earned in-game currencies, item storefronts, catalog management, payments gateways, cash-in flows, and more.
Live Gamer's technology has been integrated into more than 145 titles from major publishers like Electronic Arts, Funcom, NHN USA, Sony Online Entertainment, and THQ. The New York-headquartered company launched its platform in 2001, and it currently supports over 83 million users in 23 countries.
"Namco is one of the most beloved game companies in the world, with titles that have inspired and created favorite past-times for generations of gamers," says Live Gamer president and co-founder Andrew Schneider.
Schneider adds, "As in-game virtual items have become the leading revenue driver for online games today, gaming publishers are now integrating this business model for continued success. We're looking forward to helping Namco accelerate their social game strategy and ongoing growth."


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As 2020 is brought to a close, the United States Congress passed the HEROES Act. This new stimulus bill has brought new funding to the Paycheck Protection Program, but with new funding comes new rules.
The Queens Chamber is joined by Man-Li Lin, Economic Development Specialist at the United States Small Business Administration for a presentation on the new changes to the PPP. As the SBA released the new rules for this wave of the PPP, our webinar on the 14th will be bringing incredibly fresh information. It is imperative that business-owners, whether they have previously received the PPP or are looking into applying now, stay up to date on the developments of this program.
This webinar has complimentary entry and is open to the public. It will be held on the Zoom online meeting platform. The link will be emailed to you upon registration and is also included below for convenience.
The event will be broadcasted in real time on the Queens Chamber of Commerce Facebook Page. Afterwards it will be available for viewing on the Queens Chamber of Commerce YouTube page. The links for both are included below.
Economic Development Specialist at U.S Small Business Administration


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Blue Bottle Coffee, the respected California coffee micro-roaster that introduced the Japanese-style siphon bar to San Francisco before opening shops in Chelsea, TriBeCa, Rockefeller Center and Williamsburg, Brooklyn, has a new owner.
According to a filing made with the Securities Exchange Commission, Bryan Meehan is the new president and chief executive of Blue Bottle Coffee Inc., heading a group of investors who purchased a controlling stake in Blue Bottle Coffee LLC for more than $19.6 million. Kohlberg Ventures, which invested in Blue Bottle Coffee in 2008, no longer has a stake in the company.
The news was reported in TechCrunch, The Wall Street Journal and other news-media outlets.
Mr. Meehan is the Dublin-born entrepreneur behind Fresh & Wild, a London chain of organic markets sold to Whole Foods in 2004, and Nude Skincare, a line of natural beauty products. He now lives in Marin County, Calif., and the Blue Bottle Coffee investment group he leads draws from the Bay Area’s high-tech executives. It includes Tony Conrad, a founding member of True Ventures and the founder of About.com; Kevin Systrom, the co-founder and chief executive of Instagram; Kevin Rose, a general partner at Google Ventures and the founder of Digg; and Mike Volpi, a partner in Index Ventures, formerly of Cisco Systems.
But not all of Blue Bottle’s new investors made their fortunes with keyboards: the skateboarder Tony Hawk is listed in a post published on the True Ventures blog last week.
Reached on the phone in Dublin, Mr. Meehan said that James Freeman, the founder of Blue Bottle Coffee, would continue to occupy a central position in the company. “James promised to me that he’s going to spend the rest of his life growing his business,” Mr. Meehan said. “He’s the founder, and he’s still running things. My role will be chairman of the board.”
Ownership and management can be a touchy question in the coffee industry. Many respected roasters were started by coffee enthusiasts who spent years pulling shots and working long shifts. For some, selling a stake in a company is seen as an act of disloyalty.
What happens after the papers are signed depends on the company, of course. Last year, Stumptown Coffee Roasters reached a deal with TSG Consumer Partners, a private equity firm, and the company has steadily expanded since then. Then again, after Doug Zell, the founder of Intelligentsia Coffee and Tea, announced last year that he would become a co-C.E.O. with a former real estate developer, Robert Buono, the company shed most of its senior staff.
Mr. Freeman, who is in New York to promote his new book, “The Blue Bottle Craft of Coffee,” said the company he founded would remain the same, only with deeper pockets.
“I’m still going to make decisions about where or if we open new shops, what the new shops look like, what the new shops feel like,” he said. “I’m still going to be in charge of what kind of coffee we should buy, how much should we buy.”
Mr. Freeman said that he structured a deal that encourages him to remain with Blue Bottle Coffee. Every year, his stake in the company will increase. “It’s an incentive to stay,” he said. “I gave myself a really good job.”
Oct. 18| Updated
The board of directors of Blue Bottle Coffee Inc. announced that James Freeman is now President and CEO of Blue Bottle Coffee Inc. Bryan Meehan is now Executive Chairman.
“We want to clarify any misunderstanding about who runs the company,” Mr. Freeman said. “I’m going to be the one showing up to Webster Street every day and answer emails, cup coffee, talk to the troops and do everything I’ve been doing, only hopefully better.”


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This is the company's first fundraising since 2019 and brings its total capital to $103MRead more...
Hold the celebrations, all you startups who thought that Yahoo and Microsoft might come knocking on your door in the wake of their failed courtship.
Based on all the various reports out today, it looks like some kind of deal will be struck between Microsoft and Yahoo -- unless Yahoo partners up with Google instead.
What seemed to be the most definitive account out today came from Business Week's Gene Marcial, that magazine's longtime deal scoopmeister through his Heard on the Street column. Marcial says that Yahoo is speaking to both Google and Microsoft.
Meanwhile, at the AllThingsD conference put on by the Wall Street Journal, Microsoft CEO Steve Ballmer turned non-speak into an art form when he said that the company had walked away from acquiring Yahoo and is now talking with them about "other things." "We're not rebidding on the company," he said, but didn't completely rule out a new bid.
The word is that large Yahoo shareholders, still in disbelief that CEO Jerry Yang and the company's board turned down a $45 billion offer, has been putting pressure on to sell of some or all of Yahoo.
The easiest deal will be one that sees Yahoo give its search business over to one of its rivals. It will be interesting to see if Yahoo can create a bidding war for that part of the company, which Google, as the dominant and fastest-growing search player, needs a lot less than Microsoft, which is a distant No. 3 in the market.
For cultural reasons and plain old Silicon Valley solidarity, Yahoo is likely more inclined to sell to Google. But if it turns down a better offer from Microsoft, the ranks of lawyers lined up with shareholder lawsuits aimed at the company will likely deepen.
The resulting deal, depending on how it's crafted and whether it passes anti-trust review, could reshap the search market and set its direction for the next few years. We'll keep watching this one.
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Russia may completely ban the imports of plant growing products from the EU countries
Russia may completely ban the imports of plant growing commodities from the EU countries, due to systematic violations of the quarantine regulations, declared Sergey Dankvert, Head of the Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor), on July 31.
According to the official, during several recent years the European system to ensure the quarantine security does not work at all.
According to him, to date Rosselkhoznadzor make the case for all incidents of deliveries of European products with inclusion of quarantine objects for Russia, in order to estimate the risks.
In the nearest future, Rosselkhoznadzor will make consultations with phytosanitary services of the European Commission and individual EU countries on the issue, added S.Dankvert.
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Russia: no single price trend on the export wheat market
July 31, 15:40
Russia harvested 37 mln tonnes of grains – Ministry of Agriculture
July 31, 11:40
Russia: RUR weakness doubled the export duties on wheat — Rusagrotrans
July 31, 10:45
In 2014/15 MY, Russia occupied the 6th position on the world export market of soybean oil
July 29, 16:20
Russia: Government plans to limit palm oil usage in the food industry
July 29, 10:30
Russia to reach the forecasted grain harvest volumes, despite the drought — Ministry of Agriculture
July 28, 15:05


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Yvonne Ridley, the former Daily Express journalist and veteran Fleet Streeter who was captured by the Taliban and subsequently converted to Islam, has been fired as editor of Al-Jazeera.net, the…
Rainer Werner Fassbinder named his essential trilogy after the Federal Republic of Germany ("Bundesrepublik Deutschland"). The films examine the post-WWII German economic miracle, or…
Contrasting a dip in box office sales at theaters, home entertainment in Germany reached an all-time high in the first nine months 2003.
2016-2017 Oscar Predictions
Singapore has announced dramatic plans to expand its digital cinema facilities.
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America Online is making streaming video and audio more accessible to its millions of subscribers with the acquisition of search technology company Singingfish.
Marking New Line's DVD and VHS release of the special extended edition of "Lord of the Rings: The Two Towers," the Grand Central Station-Times Square Shuttle became Middle-Earth on Tuesday.
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Sony (China) confirmed Friday that it has delayed the launch of the PlayStation 2 game system in China.
CTV became Canada's first national web to transmit a high-definition feed on Tuesday.


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A print advertising campaign promoting cow’s milk shows tennis professionals Venus and Serena Williams with milk mustaches—a ringing endorsement for milk drinking by these two very popular tennis stars. Shame on the Williams sisters.
Was it wise for the Williams sisters to lend their name to promoting cow’s milk? Ironically, this is a beverage/food that most African Americans cannot digest and would suffer bouts of diarrhea, bloating, gas and indigestion should they follow Venus and Serena’s advice to drink it.
Moreover, a growing body of research suggests that drinking cow’s milk can increase the risk of osteoporosis and bone fractures. A majority of women think of calcium as the first line of defense against the bone-thinning disease, osteoporosis. Many mainstream doctors, dietitians and the Academy of Nutrition and Dietetics currently recommend consuming dairy products and calcium supplements to prevent osteoporosis.
The hype and misconceptions surrounding dairy products and calcium for bone health have earned milk and dairy products a secure place in the government’s dietary guidelines and the USDA Food Pyramid Guide, which directly encourages dairy product consumption and indirectly promotes calcium pills, which are now the biggest seller in the US dietary supplement industry with annual sales of nearly $1 billion.
A number of studies now call into question the safety of drinking fortified milk and of taking calcium supplements, despite the endorsements of The National Osteoporosis Foundation, the Academy of Nutrition and Dietetics, and The National Dairy Council (the leading US dairy industry political lobby group). In truth, it is an established and verifiable fact that no one, including infants, requires cow’s milk for healthy bone growth.
The widely publicized Harvard Nurses’ Study showed that drinking milk does not protect against fractures. This landmark study revealed that drinking milk might actually lead to osteoporosis and bone fractures. The study recruited 77,761 women between 34 and 59 years of age in 1980, and followed them for the next 12 years. Women who drank two or more glasses of milk per day experienced a slightly higher risk of arm fracture (5 percent increase) and significantly higher risk of hip fracture (45 percent increase), compared to those who drank little or no milk, even after researchers took into account body weight, menopausal status, smoking, and alcohol use. Results of this study suggest that adults who drink cow’s milk do not enjoy excellent bone health and may increase their risk of bone fractures of the hip and arm.
- The Harvard study findings are consistent with results of other published studies, which show that fracture rates in the US, Scandinavia, and other countries where dairy products are commonly consumed are actually much higher, not lower, than in Asia and other areas where inhabitants rarely consume cow’s milk and dairy products. South African women, on average, consume only 200 mg of calcium per day, yet their rate of fractures is much lower than in US women.
- Bantu women consume between 220-450 mg calcium per day. A typical Bantu woman may give birth to seven to eight children and breastfeed each of them for two years or more. Yet osteoporosis is not prevalent among Bantus, even in women over 65 years of age—a remarkable achievement considering Bantu women never drink cow’s milk.
- Every sip of cow’s milk contains a cocktail composed of dozens of bioactive hormones. Hormones in milk exert powerful biological effects. Each species of mammal has a different formula. Cow’s milk contains its own unique blend of bovine hormones that were never consumed by humans until the advent of animal husbandry approximately 8,000 years ago.
- Human mother’s milk has always been a hormonal delivery system, providing nursing infants with nature’s perfect food for the young of each species. Lactoferrins, immunoglobulins, and hormones in human breast milk provide outstanding nutrition for nursing humans. These beneficial compounds are absent from pasteurized cow’s milk.
- On average, a woman will naturally produce in her lifetime the equivalent of only one tablespoon of estrogen. It takes only a billionth of a gram of estrogen hormone to produce a powerful biological effect. When young girls drink cow’s milk or eat cheese, ice cream, or yogurt, it’s as if they’re swallowing estrogen, progesterone, and prolactin pills.
- Early sexual maturity is unnatural and unhealthy. In the Harvard Nurses’ Health Study, 2,291 of the 65,000 participants developed breast cancer. Researchers found that earlier menarche and taller adult height were predictive of elevated breast cancer risk. This study provides evidence that breast cancer risk is influenced by pre-adulthood factors, thus prevention efforts that begin in childhood and adolescence are essential to lifelong breast health. Avoiding cow’s milk could be a prudent protective effort.
- Young girls should not take birth control pills. Young girls typically do not inject steroids and do not require estrogen replacement therapy. Yet these are the compounds they ingest in cow’s milk and dairy products. Girls are born with bodies that are genetically pre-programmed to transform them into women. By consuming cow’s milk and cow’s milk products, little girls can reach puberty before Mother Nature intended.
- A 2012 study comparing the effects of isoflavone-rich soy vs. whey protein found that perimenopausal women who consumed whey protein for 24 weeks experienced a 1.73% loss of lumbar spine bone vs. a +0.62% increase in lumbar spine bone while drinking a soy-based beverage.
The Williams sister’s endorsement notwithstanding, cow’s milk is not nearly as good a source of calcium as other far more digestible foods. Compare the 118 mg calcium/100 grams cow’s milk with calcium in 100 grams of the following foods:
Almonds (254 mg)
Broccoli (130 mg)
Kale (187 mg)
Kelp (1,093 mg)
Sardines (400 mg)
Sesame seeds (1,160 mg)
☆ Disclaimer: This is my informed opinion. I could be wrong. What do you think?


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Japan's April exports climbed 8.0 percent from a year earlier, data showed on Monday, topping expectations for a 6.4 percent rise and underscoring a gradual recovery in external demand.
But imports fell more than expected, down 4.2 percent on-year, compared with expectations for a 1.5 percent decline.
The trade balance came to a deficit of 53.4 billion yen ($439.3 million), versus the median estimate for a 318.9 billion yen deficit. In March the trade balance had marked the first surplus since June 2012.
Following the trade data, the Japanese yen traded unchanged, with the U.S. dollar fetching 121.55 yen. The Nikkei, meanwhile, hit a fresh 15-year high at the start of trade.
The data come just days after the International Monetary Fund (IMF) warned the Bank of Japan (BOJ) that the central bank's forecasts for hitting its 2 percent inflation target are likely "overly optimistic." The IMF also urged the country to speed up its efforts at fiscal reform rather than over relying on yen weakness.
The BOJ has pushed back its timeline for hitting its inflation target to around September 2016. Japan's core consumer price index (CPI) for March rose 2.2 percent from a year earlier, but excluding the effects of a consumption sales tax hike in April 2014, the nationwide consumer price index (CPI) rose 0.2 percent.
"The exports numbers continue to reinforce our view that the growth component of Japan is starting to improve. The structural reform process is clearly going to be tough and slower, but we're now forecasting that exports will be 33 percent of Japan's growth (from the current 29 percent) from now through to 2019," said Martin Lakos, a director with Macquarie.
"We're not expecting the lights to be blown out or shot up in terms of growth but we're looking for positive growth for the next three years from now till 2017, in the region from now up till about 1.5-2 percent," he added.
Other were more focused on whether Japan would again return to near-permanent trade deficits. In March, Japan recorded its first trade surplus in three years.
The fall in import prices is largely the result of a sharp fall in the cost of natural gas imports, which plunged in April by 12% from March, Capital Economics' Japan economist Marcel Thieliant said in a note.
"However, if the exchange rate starts to weaken again in the second half of the year as we expect, crude oil imports will become more expensive again, soon. Overall, therefore, the trade balance will likely remain in the red in coming months," he said.
In the meantime, the Japanese economy has continued to recover from a technical recession triggered by the consumption tax hike in April 2014.
Last Wednesday, government data showed that the Japanese economy expanded at its fastest pace in a year.
Gross domestic product (GDP) grew at an annualized 2.4 percent on the previous quarter, beating economists' consensus of a 1.5 percent expansion. On a quarter-on-quarter basis, GDP grew 0.6 percent in the first three months of this year.
In the October-December quarter, the economy expanded 1.5 percent on-quarter after contracting in both the second and third quarters of 2014.


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People leave a Bed Bath & Beyond store amid the coronavirus disease (COVID-19) pandemic in New York, Jan. 27, 2021.
Carlo Allegri | Reuters
Bed Bath & Beyond shares lost more than 28% in pre-trading hours on Thursday as the company said it saw a sharp drop in buyer traffic in August, which took a blow to its second-quarter results.
The wholesaler is also dealing with industry-wide supply chain complications that are “ubiquitous” according to CEO Mark Tritton. He said costs escalated over the summer months, particularly towards the end of the second quarter of August, which had an impact on sales and profits.
Bed Bath & Beyond has cut its sales and earnings outlook for the year and its guidance for the third quarter looks disappointing.
The sell-off in the share was robust. Even before the market opened on Thursday, more stocks had changed hands than is typical for Bed Bath & Beyond on an average day.
Here’s how Bed Bath & Beyond performed in the second quarter ended August 28 compared to Wall Street’s expectations, based on a refinitive poll of analysts:
- Earnings per share: 4 cents adjusted vs. 52 cents expected
- Revenue: $ 1.99 billion versus $ 2.06 billion expected
In the most recent period, Bed Bath & Beyond lost $ 73.2 million, or 72 cents per share, compared to net income of $ 217.9 million, or $ 1.75 per share, last year. Excluding one-off effects, the company earned 4 cents per share, which was less than the 52 cents expected by analysts.
Revenue declined 26% to $ 1.99 billion from $ 2.69 billion last year. That fell short of the estimate of $ 2.06 billion.
“Although our results for the quarter were below expectations, we remain confident in our multi-year transformation,” Tritton said in a press release.
Bed Bath & Beyond has rebuilt its stores and launched its own brands that sell everything from bath towels to cooking utensils to dorm decorations. In the previous quarter, it seemed like those efforts paid off and the business gained momentum.
But this progress stalled in the summer months. Tritton stated that the environment became more difficult as Covid-19 fears re-emerged amid the spreading Delta variant. In states like Florida, Texas and California, which make up a significant portion of sales, business has been impacted due to rising coronavirus cases in the area, Tritton said.
That means that not as many shoppers have shown up during the normally busy back-to-school season for retailers like Bed Bath & Beyond. It could mean trouble for rivals like Target, Walmart and Kohl, who are yet to have to report back-to-school results.
Bed Bath & Beyond expects adjusted earnings between breakeven and 5 cents per share for the third quarter on sales of $ 1.96 billion to $ 2 billion. According to Refinitiv data, analysts had expected earnings of 28 cents per share on sales of $ 2.02 billion.
For the year, Bed Bath & Beyond lowered its expectations and now aims to make between $ 70 cents and $ 1.10 per share on an adjusted basis on sales of $ 8.1 billion to $ 8.3 billion.
Previously, the company had claimed annual adjusted earnings of between $ 1.40 and $ 1.55 per share on sales of $ 8.2 to $ 8.4 billion.
Analysts forecast adjusted earnings per share of $ 1.51 on revenue of $ 8.31 billion in fiscal 2021.
The full press release from Bed Bath & Beyond can be found here.


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The creators of whiskey Jack Daniel’s has sued one of the most famous winemakers in France, which bears the name of the province and the château de Chambord, to prohibit the use of the name of the region for wine production.
Based in Kentucky, the Corporation is challenging the right to use the name of the castle from the 16th century, located in the Loire valley.
The American company believes that wine cannot be called “Chambord” on the grounds that the firm for more than a decade produces the eponymous liqueur.
Castle created his vineyard three years ago in an effort to self-financing. This fall he released his first wine “Clos de Chambord” and “IGP Chambord”.
Jean d Hassonville, Director of the castle, built by king Francis I, outraged by the actions of the American company.
“Unimaginable that the liquor can prevent us to use the brand of our national heritage for our own products,” he said.
The us whiskey owner brown-Forman said in response that he bought the property at the commodity brand Chambord “many years ago”. However, the name has historical significance in France.


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London/ Solihull (19/05/17) – UK Power Reserve welcomes the fact that all the main UK parties have scrutinized the current energy market arrangements in their manifestos. Consumers are losing out because of a lack of competition; the Big Six have dominated the UK energy supply market for years, failing to innovate or invest and using their lobbying might to drive anti-competitive policy measures.
We urge the new Government to continue to strive for policy and regulations which stimulate a vibrant and competitive energy market and which encourage new entrants. In other UK sectors, such as in finance and insurance, we see the benefits of regulation to restrict the bad practices and anticompetitive behaviors of incumbents. This has enabled new entrants, for example in financial technology (‘fintech’) to enter the market and provide consumers with viable and exciting alternatives. We also urge for greater education about and transparency into tariffs on consumer bills, in particular an understanding of the margins that Big Six suppliers are able to command because of ineffective competition at the expense of the billpayer. Recent full-year financial results from several of these companies continue to show that whilst consumers are harder and harder pressed the Big Six continue to see rises in profits.
“The UK is poised to enter a new age of a flexible and smart system dominated by clean renewables and supported by fast ramping, intelligent sources of capacity like small-scale gas engines and battery storage. The Government must put in place policies which keep bills down, achieve its carbon targets in or out of Europe, and keep pace with the amazing realties of technological advances. It’s critical to maintain investor confidence and certainty for new entrants and consumers alike.” CEO Tim Emrich.


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Steven Greenway has been appointed president at Canada’s first ultra-low-cost carrier Swoop, effective since March 05.
Qatar Airways is extending its partnership with international bank card network, UnionPay, to an additional 31 countries and regions, providing a convenient payment option for passengers when booking tickets on the airline’s official website.
Air Canada has inaugurated a new air service between Phoenix, Arizona and Montréal, Québec’s largest city.
Arizona Office of Tourism (AOT) trade and media divisions recently headed a delegation of industry partners to Toronto and Montreal, Canada and New York City, the US.
WestJet has enhanced its schedule and connectivity from its Vancouver hub to key business and leisure destinations in Canada and Mexico.
Carnival Triumph will operate a diverse itinerary schedule in 2019-20, with a wide variety of four- to 14-day departures from New York, Fort Lauderdale, Florida, and Norfolk, Virginia, visiting nearly 24 destinations throughout the Caribbean, the Bahamas, Canada, New England, Bermuda and the Panama Canal.
Canadians have driven a rise in online transactions making the country’s travel industry healthy.
Princess Cruises’ 2019 Canada and New England season features the cruise line's largest-ever autumn deployment.
VISIT FLORIDA has launched its Canada Takeover winter campaign to attract Canadian visitors to Florida.
Serving as a networking platform and an opportunity to meet investors and media professionals, Sharjah Media City joined Shurooq and its investment arm in the Global Business Forum in Canada.


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Expansys have become the next significant retailer to offer preorders for the HTC Hero, and their price comes in neatly below that of Amazon UK. Expansys are listing the Hero – in white, unlocked and SIM-free – for £399.99 in the UK or $649.99 in the US (without US 3G).
Don’t be misled by the seemingly more ambitious availability on Expansys’ listing, however. While they say the Hero is expected to launch in eight days, that’s not including weekends; in fact, it tallies with Amazon’s July 15th ship date estimate.
Still, it’s a little cheaper (and Expansys throw in £30 of their own gift vouchers, for accessories and the like) so if you’re not interested in Orange or T-Mobile‘s offers then it may be the easiest way to pick up a new Hero. More details about HTC’s latest Android smartphone in the video below.


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Walmart Is Bringing Back the One Thing Customers Have Missed Most
The change will soon offer even more convenience to shoppers.
The coronavirus pandemic has caused us all to make adjustments to every aspect of our daily lives, from the minor (like washing our hands more regularly) to the major (like doing work and school from home). But there's been one mainstay amid the changes that we've depended on more than ever, grocery shopping, though it's also looked a little different these days. Now, one of the most trusted names in the game is bringing back something customers have been longing for since Walmart changed many of its policies for safety purposes in March. According to its Twitter account, Walmart will be extending its hours in mid-November—that is, unless government regulations don't allow them to do so. Read on for the details, and if you're wondering when to avoid this superstore, check out This Is the Absolute Worst Time to Shop at Walmart, Employees Say.
"Starting November 14, Walmart stores and Neighborhood Markets will be open 7 a.m. to 11 p.m. until further notice," the company tweeted on Oct. 23. "This will give customers more time to shop and help us disperse traffic throughout the day. Stores with more reduced hours will keep current hours of operation." Currently, the hours are 7 a.m. to 10 p.m.
Walmart representatives told a local news station in Syracuse, New York that the expanded hours will still include a special shopping hour every Tuesday for people age 60 and older and other individuals who are most vulnerable to COVID. This will be held one hour before the store opens and both pharmacies and vision centers will be available during this time.
According to the retail giant's spokespeople, the company's stores will continue health and safety measures, such as social distancing, health screenings, plastic barriers at the registers, and requiring face masks. Read on to discover additional Walmart changes you should know about, and for more on when you should hit up the store, check out This Is the Best Time of Month to Score Walmart Deals.
Walmart is ending its price-matching program in some places.
As of Oct. 15, Walmart customers in Canada are no longer able to request a price match if they find the same product for a cheaper price at another store. Apparently, customers just weren't taking advantage of it all that often.
"Over time, we have seen minimal usage of our Ad Match program, while at the same time the program has been causing delays at the checkout," Felicia Fefer, manager of corporate affairs for Walmart Canada, said in a statement to Sault Online. And for more shopping tips for Walmart, check out This Secret Trick Will Get You the Best of Walmart's Clearance Sales.
Walmart sued the U.S. government.
Just a day after Purdue Pharma, the maker of powerful painkiller OxyContin, pled guilty to three federal criminal charges for its role in creating the nation's opioid crisis in mid-October, Walmart Inc. filed a suit of its own against the federal government. The move appeared to be a preemptive strike, calling for clearer legal parameters regarding the obligation of pharmacists to refuse filling a potentially dangerous prescription. And for more on this situation, check out Walmart Is Under Fire For Its Policies Around This Medication.
Walmart is selling Medicare insurance plans.
In early October, Walmart released a statement saying that during the Annual Enrollment Period from Oct. 15 to Dec. 7, the company would sell Medicare insurance plans in all 50 states and Washington, D.C. Walmart Insurance Services will provide Medicare plans (Part D, Medicare Advantage, and Medicare Supplement plans) offered by Humana, UnitedHealthcare, Anthem Blue Cross Blue Shield, Amerigroup, Simply Health, Wellcare (Centene), Clover Health, and Arkansas Blue Cross and Blue Shield. And for more up-to-date news that affects your everyday life, sign up for our daily newsletter.
Walmarts are being redesigned.
On Sept. 30, Walmart announced its stores will be getting a brand new redesign. The goal of the new look is to reflect customers' preference for shopping multiple ways: in-store, online, and via the app. "The design creates an elevated experience that appeals to shoppers through a sleek design aesthetic, a layout that spotlights products and an end-to-end digital navigation that guides customers throughout their journeys," Walmart executive vice president and chief customer officer Janey Whiteside said in a statement. The redesign has already been tested in some Walmart locations, and will be rolled out to 200 Walmart Supercenter locations by the end of the fiscal year. The goal is to have 1,000 stores transformed by the end of 2021. And for the one state that may not reap these benefits, check out This Is the Only State Without a Walmart Supercenter.


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We reported a few days ago that Apple’s iOS devices leak your private photos to third-party apps. Now, its seems that your photos are not safe, even with Android. It seems third-party apps on Android smartphones too can access your photos without taking your permission.
The situation though is a bit different with Android devices compared to iOS. See, iOS devices have a photo directory, which gets leaked to third-party apps, while in Android devices; it is just a sub-file of the main file system. What this means is that Android is weaker than iOS in this regard. In fact, it can let pretty much let any app access your private content. See, Android was originally designed to let you access your photos from your memory card, but soon after the inbuilt memory available to Android phones started increasing giving users a chance to place content in the phone and apps to access that content.
Google has responded on this flaw. What they said goes like this:
“We originally designed the Android photos file system similar to those of other computing platforms like Windows and Mac OS. At the time, images were stored on a SD card, making it easy for someone to remove the SD card from a phone and put it in a computer to view or transfer those images.
As phones and tablets have evolved to rely more on built-in, non-removable memory, we’re taking another look at this and considering adding a permission for apps to access images. We’ve always had policies in place to remove any apps on Android Market that improperly access your data.”
As you can see, Google is thinking about increasing permissions for apps to access content, which is a step in the right direction. We just hope it implements this soon, since privacy of all Android users is at stake.


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While brands can use data to inform messaging, leverage modern martech to improve targeting and measure engagement to gauge performance, there is one facet of marketing that modern technology can’t help with: consumer trust.
The dramatic rise in global CTV adoption, accelerated by the pandemic, has ushered in new commercial models that are fragmenting the landscape in much the same way that the myriad viewing options are.
As the cornerstone of many living rooms around the world, the TV set remains a fixture for media consumption. That consumption, however, looks much different than it did a few years ago.
The pandemic is far from over, and we will feel its effects for years to come, but the resilient media industry is bouncing back, with certain constituents pulling out ahead of others.
Watch this on-demand session to hear top industry experts and Nielsen leaders discuss how to navigate the global media landscape today and tomorrow.
In the past year-and-a-half, we have witnessed dramatic shifts in consumer behavior and seen companies nimbly shift gears with varying levels of success.
Today, traditional TV still accounts for the lion’s share of video viewing, and will likely continue to do so for a good while, but online and mobile are where the growth is—30 percent growth in hours watched per month from fourth-quarter 2012 to fourth-quarter 2013.
The advertising landscape landscape is evolving at an unprecedented rate, influenced by largely two factors: media fragmentation and population shifts. These changes are making it increasingly hard to connect with consumers. In order to achieve maximum effectiveness, advertisers need to optimize...
The growth in radio listening across America is remarkable, considering the variety of media choices available to consumers today. And alongside the national growth, 71 million African American and Hispanic listeners tune in each week.
Though you may already use primary and secondary media research to guide your marketing strategy, you may be missing out on key information if you’re not measuring marketing effectiveness too. So you need more information to answer some very critical questions.


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Aussies are choosing to holiday in their own backyard and are spending record amounts, according to the latest National Visitor Survey.
The results show visitor spending by Australians soared to a record $67.5 billion, an increase of eight per cent and Australians took a record 100.3 million domestic overnight trips during the year ending June 2018, an increase of seven per cent.
Minister for Trade, Tourism and Investment said this was the first time the number of overnight trips taken by Australians at home had reached the 100 million mark.
“This is an impressive result for our tourism industry with more Aussies holidaying at home and for longer, whilst also spending record amounts,” Minister Birmingham said.
“More Aussies holidaying in our own backyard teamed with record spending is a great boost for Australian businesses and helps contribute to a stronger economy.
“With 1 in 13 Australians already employed in the tourism industry, these strong results will only help to create more jobs for Australians.
“These results are on the back of recent strong international tourist figures which showed overseas travellers spent a record $42.3 billion for the year ending March 2018.
“We’re experiencing a real purple patch when it comes to tourism in this country and the Liberal-National Government continues to deliver record funding to Tourism Australia so we can continue growing this booming industry.”
Minister Birmingham also said more Australians were turning to nature and the great outdoors for their holidays.
“Trips that included bushwalking increased 14 per cent to 12.4 million. Visits to national or state parks were up 12 per cent to 11.8 million, while visits to the beach were up 5 per cent to 23.8 million,” Minister Birmingham said.
“Our natural beauty is one of our greatest assets and it’s great to see Australians are fully taking advantage of the natural diversity our country has to offer.
“Whether it be hitting up the Heysen Trail in SA, four-wheel driving on Fraser Island, or whale watching off Eden – there is no shortage of unique experiences and adventures to be had.”
The National Visitor Survey results are available from www.tra.gov.au.


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Following the success of the Federation during the Interstellar Initiative, the Golconda, commanders will be able to earn increased Federation rank from 5 December to 16 December.
Golconda’s Inhabitants Migrate to Forester’s Choice
SummaryThe crew of the generation ship Golconda have migrated to their new home - the outpost Forester’s Choice in the Upaniklis system.
Following a successful bid to assist the Golconda crew with their relocation, the Federation arranged for transportation from the ancient vessel to the outpost now in orbit around Upaniklis B 3.
Communication with the generation ship in the days prior to departure revealed a certain amount of trepidation among their people. But with centuries of space travel having exhausted the Golconda’s ability to adequately sustain the colonists, the majority supported the decision to relocate.
The Golconda’s command staff also confirmed that they would continue distillation of the beverage Apa Vietii. This unique spirit will be on sale to traders from Forester’s Choice.
Professor Elizabeth Perez, head of anthropology at Orion Independent University, was on hand to observe the mass resettlement:
“Many of the colonists openly wept as they stepped aboard the transport vessels, speaking words of thanks and sorrow to the Golconda itself. On several occasions, the emigrants broke spontaneously into song, with hundreds locked arm-in-arm.”
“During the flight I overheard a group of youths chatting excitedly about the technology that would be available to them, perhaps ignorant of the significance of their journey. But most striking was the people’s collective determination to maintain their unique culture, and to remain together as they enter this new chapter.”
“It remains to be seen whether this society will retain its isolationist outlook or willingly integrate with the galaxy. We can only hope that these remarkable travellers from the past will be left alone long enough to explore 34th-century humanity at their own pace.”
To celebrate this historic event, the Federation has announced that a purchase discount will be applied to Federal craft between the 5th and 16th of December 3305.
- A Federation-affiliated Outpost named Forester's Choice has been added to the Upaniklis system.
- From 5 December to 16 December, any Federation Rank will be earned at an double rate alongside a discount to Federal ships.
- The Rare Good, Apa Vietii, is available for purchase at Forester's Choice.
- 'The Golconda' decal will be available to commanders who dock at Forester's Choice or either Federation or Empire megaship from 5 December to 16 December.


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South Korea's central bank says the weakening of the Korean won against the U.S. dollar in 2021 was largely due to the surging prices of raw materials and the South Korean economy's high trade dependence on China.
The won-dollar exchange rate last year rose more than eight percent far more than the rate for the currencies of other major developing countries at 2.7 percent.
The Bank of Korea attributes it to the soaring prices of raw materials, which have hurt South Korea's terms of trade and, in turn, its economy.
Growing concerns about a slowdown in China are also putting pressure on the won.
The BOK says there should be stronger monitoring of the forex market to minimize other external factors like inflation in the U.S.


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Indian Motorcycle is all set to launch a new bike in the Indian market on November 24th at the upcoming India Bike Week in Goa. The American bike maker showcased the new Scout Bobber for the first time a few months back and now the same will be making way to our market. The bike, as the name suggests, comes under the Scout series of motorcycles. Currently, there are two Scout motorcycles in the country and with the launch of the Scout Bobber, Indian Motorcycle will have a total of three Scout bikes.
The Scout Bobber is a dark-themed bike that gets a minimal street design and a few chrome bits. It gets a different headlamp, chopped off tail section, bar-end mirrors, fully blacked out exhaust along with other dark scheme parts, and different alloys shod to knobby tires.
The bike utilizes a 1131cc twin-cylinder, liquid-cooled engine that delivers 99bhp of a maximum power and 97.7Nm of peak torque. The engine comes mated to a 6-speed transmission. The Scout Bobber is expected to get a few mechanical updates as well.
Since it will be premium than the standard Scout and Scout Sixty, it will be priced a bit on the higher side. Expect the bike to be priced between Rs 14 lakh to Rs 16 lakh. Stay tuned for full updates on the upcoming India Bike Week.


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- Mitglied seit
von gamespot.comDebate over a recent Sony billboard in the Netherlands advertising the release of the Ceramic White PlayStation Portable in the region was fittingly white-hot last week. That's when an ad featuring a Caucasian woman holding a black woman by the jaw in a threatening manner was decried as racially insensitive.
Today, one of those who criticized the ad and condemned Sony for running it, California Assemblyman Leland Yee, instead commended the publisher. According to a statement from Yee, Sony has pulled the advertising campaign and apologized to anyone offended by it.
"I am pleased to see Sony taking responsibility for their racially charged ad and appropriately pulling it from the marketplace," Yee said. "Sony did the right thing by recognizing their insensitive mistake and apologizing for offending many of their customers."
Yee was backed in his condemnation of Sony by representatives from the National Association for the Advancement of Colored People (NAACP) and the civil rights education group Sojourn to the Past. Sony originally defended the ad, saying its only intent was to contrast the colors of its two models of PSP. It still didn't sit well with Rick Callender, president of the San Jose/Silicon Valley NAACP.
"Their attempt to contrast colors clearly created controversy and sparked painful feelings in the global community," Callender said. "Hopefully in the future, Sony will employ a better litmus test to their ad campaigns to determine if they will be sour to the taste of worldwide consumers."
As of press time, Sony representatives had not responded to GameSpot's attempts to confirm the pulling of the advertising campaign.
Für die die des Englischen nicht ganz so mächtig sind. Es scheint, als würde dieses Plakat:
in Holland zurückgezogen werden, weil amerikanische Anwälte dagegen protestiert haben.
Find ich ja klasse. Nicht nur das wir vom Amerikanischen Lebensstil assimiliert werden, nun ist es ganz verboten irgendwo in der Welt irgendetwas zu tun, was irgendeinen Amerikaner in kleinster Weise stören könnte.
Hallo?!? Nicht jedes Volk hat einem anderen das Land weggenommen, um es mit Afrika-importierten Sklaven neu zu bevölkern....


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Johnson & Johnson has been fined $344 million for marketing and selling transvaginal mesh implants despite knowing the health risks, The Guardian reports. California state attorney general Xavier Becerra accused the company of knowing “the danger of its mesh products” and choosing to still put “profits ahead of the health of millions of women,” because, well, they were, and they did.
In 2018, Johnson & Johnson came under fire for launching its own vaginal mesh, the Prolift implant, despite knowing the mesh could harden inside the vagina, causing the patient pain. (They also did so without FDA approval.) In November 2019, the company lost a massive class action lawsuit in Australia’s federal court after more than 1,350 women sued the company’s subsidiary Ethicon for failing to disclose the dangers of vaginal mesh to its consumers, who complained of “suffered chronic pain, bleeding and severe discomfort during sexual intercourse after having the mesh surgically implanted.” One month earlier, Johnson & Johnson agreed to pay $117 million to settle claims across 41 states and D.C. for “deceptively marketing transvaginal pelvic mesh implants.” The company faces similar, ongoing ligation in Canada and Europe.
According to The Guardian, between 2008 and 2014, Johnson & Johnson sold over 780,000 pelvic mesh devices in the United States.
The health risks tied to vaginal mesh have been well documented for years—as early as 2011, the FDA has been criticized for approving the pelvic implant, which is surgically implanted and has been known to cause excruciating pain, even death. It wasn’t until July 2019 that FDA put a stop to the sale of implant for fears that it leads to pelvic organ prolapse. Which it can, as evidenced in New Zealand’s outright ban of the device in 2017.


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Gov. Christie's Town Hall Meeting at FuryaEUs Publick House
Speaking at a New Hampshire town hall last Friday, May 8, 2015, Gov. Chris Christie singled out New Jersey's smart gun law as a defining example of legislative overreach by the Democratically controlled state legislature that's hampered his ability to expand Second Amendment rights. Now the law may be going away, as lawmakers recognize it has been used to prevent the sale of smart guns in other states, lest it trigger New Jersey's mandate that all guns sold in the state be 'smart' within three years of the technology becoming available elsewhere.
(Aristide Economopoulos/NJ Advance Media)
TRENTON — Leading Democratic state lawmakers are seriously considering scrapping New Jersey's longstanding but never-implemented law requiring all handguns sold in the state feature "smart gun" technology that allows only the weapon's owners to fire them, NJ Advance Media has learned.
The lawmakers say they want to replace or change the Childproof Gun Law with a measure that encourages rather than requires gun shops to sell "smart guns" -- and provides economic incentives for Garden State consumers to buy them.
Passed in 2002 to respond to accidental child deaths from guns, the law's mandates for gun sales were supposed to kick in three years after the weapons became available for retail purposes. However, it hasn't resulted in the sale of smart guns and instead moved gun rights activists to intimidate gun shops around the country not to carry them because that would start the countdown clock for the New Jersey law.
"The legislation from a decade ago was designed to stimulate technology. It worked," said state Assembly Majority Leader Louis Greenwald (D-Camden). "But if that legislation is now having the effect of restricting access to that consumer product, it needs to be reexamined. Because the most important thing is giving consumers the ability to decide if they want that access to that technology."
Greenwald said he had reached out to the law's sponsor, state Sen. Loretta Weinberg (D-Bergen) and that conversations will be held with the Democratic leadership in both the Assembly and Senate later this week.
Reached by NJ Advance Media, Weinberg confirmed that the talks were starting, saying, "I have been approached by various gun safety people, who I respect, to reach a compromise."
Weinberg, who is also the state Senate majority leader, said she hadn't made up her mind about whether to advocate repealing the law entirely or simply amend it, but acknowledged that "any 12 year old law that was dealing with technology is now akin to a century (in age)."
The law, passed in December 2002, dictated that once smart guns were on the market for three years, it would be illegal for any registered or licensed firearms manufacturer or dealer to sell a handgun in New Jersey unless had this personalized technology.
Speaking in Dover, N.H., at a 2016-themed town hall meeting last week, Gov. Chris Christie had singled out the Childproof Gun Law for special scorn, holding it up as the epitome of Democratic legislative overreach.
Proponents have said the law was needed to help change the grim fact that guns kill more preschoolers than police officers each year across the nation. According to the Centers for Disease Control's most current data available, 505 people were killed in gun accidents in 2013, 108 of them children.
Opponents of the law said the technology wouldn't work reliably and would compromise the safety of legal gun owners when confronted by armed criminals.
But as manufacturers worked on the technology, the law also sparked some unintended consequences: When gun sellers on both coasts began offering the country's first smart gun, the Armatix iP1, for sale, they were met with an avalanche of hate mail, violent threats and recriminations.
The first gun store to offer the iP1, the Oak Tree Gun Club outside Los Angeles, dropped plans to carry the smart gun last March after a backlash from local members and gun rights activists determined to stop the New Jersey smart gun-only law from being triggered.
Oak Tree's manager became so intimidated, he even went so far as to deny that he ever had offered the Armatix iP1 for sale or even ever planned to sell it, despite having given a previous interview to the Washington Post about his plans to do so.
Last May, a Maryland gun seller, Andy Raymond of Engage Armaments, also dropped plans to sell the smart gun, even going so far as to sleep in his Rockville store, fearing it would be burned down as had been threatened by Second Amendment activists determined to stop the New Jersey smart gun-only law from being triggered.
"In Maryland, there were death threats," said Greenwald. "That's not serving anyone. If this is a product people choose not to have, the market will decide."
Greenwald said that instead of mandating only smart guns be sold, he hoped to provide an economic incentives to boost their sales to accomplish the same end. He noted that New Jersey "had offered a tax credit for early adaptors of solar panels, where you could write off the purchase of some on your taxes. We could offer that same type of opportunity. You could offer forgiveness on the sales tax. It's very early in this, but those are the type of conversations we would certainly look at."
The Armatix gun is not a cheap firearm. Its base .22 calibre model is priced at more than $1,400, almost a $900 more than a comparable non-RFID handgun.
Still, says Greenwald, many consumers who might not otherwise purchase a handgun out of concern for the safety of their children might pay more for a gun that guaranteed it.
"As a consumer, I would choose that," he said.
Rabbi Joel Mosbacher of the Metro Industrial Areas Foundation, a community-organizing group, said that he had met with Weinberg and urged her to consider scrapping the 2002 smart gun law in favor of one that let the free market determine the smart gun's fate.
"She's been a leader on this and we think it says a lot that she'd be willing to reevaluate," said Mosbacher.
Mossbacher believes the smart gun technology is so superior that most consumers would eventually to embrace it the same way that they did airbags and anti-lock brakes on cars. But instead of arguing for mandating the smart gun's use, he says he wants the state's largest purchasers of firearms to reach that decision on their own.
"Law enforcement is best-placed to assess the state of the art," said Mosbacher, "Our police and our military are some of the biggest purchasers of weapons, and we hope to use that purchasing power to press gunmakers directly (to begin offering smart guns)."
Metro IAF and will be hosting a smart gun trade show in New Rochelle, N.Y., later this month so that New York and New Jersey mayors and law enforcement officials can try out smart guns from manufacturers like Armatix, iGun Technology Corp. and SAR, who'll be on hand to answer questions. Armatix is readying a 9 mm version of its gun, aimed at serving the needs of law enforcement and citizens seeking home protection.
"Citizens tend to want what the police want," said Mossbacher, "That's how Glock became one of the most popular gunmakers in America."
Weinberg said that whatever form the new smart gun legislation takes, "The intent is what the intent was when we passed the bill: Furthering the development of the technology and making sure that those who purchase handguns have the safest possible product in the marketplace to prevent children from getting killed accidentally, and to prevent bad guys who might want to steal guns from getting them. I am still committed to those two goals."
The DOJ's Bureau of Justice Statistics estimates that an average of 232,400 firearms are stolen each year, based on data from 2005 through 2010. Eighty percent are never recovered.
Claude Brodesser-Akner may be reached at email@example.com


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The Federal Communications Commission is contemplating a new universal service program that would subsidize broadband services for low-income consumers, and it is looking to use its Lifeline program, which currently subsidizes low-income telephone service consumers, as the model to follow.
However, a closer look at the history of the billion-plus Lifeline program shows a wasteful and fraud-laden program that taxes virtually all telephone service consumers and subsidizes millions ineligible consumers in order to help a few. A recent Government Accountability Office report strongly concluded that an evaluation of the program is needed before going forward.
Lifeline is a federal universal support program intended to target low-income consumers who cannot afford telephone services. The justification for the program was to increase the overall telephone penetration rate (the percentage of households with telephone service), under the idea that society is better off when every household has a phone. With the average monthly Lifeline support near $10 per subscriber, over the years, the program has expanded from subsidizing just local wireline phone services to cell phone services. The FCC now has its eyes on the bigger broadband prize.
If the goal of Lifeline is to increase the penetration rate, the program has failed. That is because the program subsidizes not only those few who cannot afford services and would not otherwise subscribe, but it subsidizes many others who would have subscribed if the Lifeline program had not existed. Rather than serve only the truly needy, the program has more recently morphed into a wireless telephone service giveaway program.
Figures suggest that the program is ripe with fraud, because many of those receiving Lifeline support are not even low income consumers—some individuals could have been unemployed but are now employed, some households have multiple subsidized phones, some households receive subsidized services from more than one telephone service provider, some households have both a subsidized cell phone and a landline phone service, and so on. In the recent past, there was little effort to verify whether Lifeline subscribers were eligible for the program.
Fraud had grown so rampant that the program jumped from 7 million households in 2008 to 18 million in 2012, when payouts peaked at $2.2 billion. While the FCC has taken steps to weed out some fraud and brought the number of subscribers down to 12 million in 2014, it is safe to assume that fraud probably accounted for at least half of the program’s participants during the 2012 peak. In other words, Lifeline was subsidizing as many unqualified households as qualified ones.
However, to conclude that Lifeline subsidizes two households in order to benefit one qualified household would greatly exaggerate the benefits of the program. Fifteen years ago, a book by Brookings economists Crandall and Waverman looked at the data leading up to the beginning of the Lifeline program and found that low-income consumers were almost as likely to buy local telephone services as were consumers with higher incomes. They concluded that the program paid discounts to people for a service that they would have freely subscribed to on their own.
Using a measure of price sensitivity calculated by a group of economists in their Lifeline study, I estimate that providing a 50% price reduction to 100 low-income households would stimulate just one new subscriber at roughly the cost of $1,000 per month. In other words, the program pays a lot of money and it taxes a lot of people for very little benefit to society as a whole. This is all the more reason for the current program to be revamped, dramatically downsized and better targeted to those truly needy, such as those in homeless shelters, remote Indian reservations and similarly impacted groups. Lifeline is certainly not the model worth replicating for the burgeoning broadband services market.
For many, telephone affordability is hardly an issue. Local telephone prices are about one-third of what they were in 1940 (after adjusting for inflation). Despite lower prices, most consumers today are disconnecting their tethered services for wireless services. For example, as of mid-year 2013, 55% of households did not have landline services or did not use their landline telephones as their primary service. As phone service revenues decline, the burden of these universal service taxes has meant an ever increasing share on customer telephone bills—now taxing consumers a whopping 17.4% of interstate telephone revenues. If these services are so important, then why are they taxing consumers at such punitive rates?
Wireless service prices are also falling, and broadband services are getting cheaper and faster. According to the Bureau of Labor Statistics’ Consumer Price Indexes, broadband and wireless prices have dropped by 50% and 60% since 1998, respectively, in inflation adjusted terms. If prices are falling, why are regulators not decreasing the subsidy?
There are many services, like electricity and water, that would seem to be more of a basic necessity, yet these services do not require a federal subsidy program and certainly not on this scale. The daily cost of broadband is often less than the daily cost of many common goods and services, such as the newsstand price of a USA Today newspaper or a cup of gourmet coffee, and substantially less than the cost of owning a dog or a cat. Yet, no other social program guarantees low-income consumers affordable access to these common daily expenses.
If telephone services so are important that they need to be subsidized, then why do we tax other telephone users to pay for these subsidies? In fact, telephone consumers are already taxed at rates nearly three times higher than sales taxes.
Before the FCC rushes ahead with another subsidy program, at a minimum, it should first evaluate the dubious success of its current Lifeline program. If Lifeline becomes the model for subsidizing broadband, then broadband users will pay more. There is no evidence that adding new broadband taxes and regulations would stimulate subscribership, usage or investment.
The key to any universal service program is better targeting to reach those truly needy, as well as continued funding for schools and libraries that provide access to computers and broadband services for students and to the general public. For low-income consumers, owning a computer is the major impediment to going online; it’s not the monthly service. In this regard, there may also be ways for the FCC to learn from private sector initiatives, such as the one that provides low-income households a $150 no-frills computer and a $10 a month broadband service—although new net neutrality regulations may prevent broadband operators from offering cheaper but lower-priority services.
Simply put, more regulations and higher taxes are not the solution to advancing broadband service penetration. The FCC needs to rethink its position and revamp Lifeline.
Mr. Pociask is a member of the FCC's Consumer Advisory Committee (CAC), but the comments here are solely his own and not those of the CAC.
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text: Inflation, which has reached its highest level since the early 1980s, probably cooled down a bit in July, but continues to rise at a breakneck pace. On Wednesday, markets will look at a key data point that will show exactly where price pressures were in August – the July Consumer Price Index report, which looks at a broad basket of goods and services to gauge the cost of living. Economists polled by Dow Jones expect headline inflation to have risen 0.2% from June and 8.7% from a year ago. If this estimate is confirmed, it will send the CPI down to its highest level since November 1981, but still to levels well above anything the United States has seen in decades. Excluding food and energy, the so-called core CPI should show a monthly gain of 0.5% and an annual rate of 6.1%. The acceleration in the core would be bad news as it shows that inflation is widening, while the slightly slower headline pace will mainly reflect a sharp decline in gasoline prices. To better understand where things stand, CNBC.com looked at a dozen indicators to show where the situation is ahead of Wednesday’s CPI release: ISM Manufacturing and Services Price Indices: The ISM Gauges provide the most recent figures as they are for July. In the manufacturing sector, the price index was 60%, while services showed a 72.3%. Both measures reflect the percentage of businesses that report prices are increasing. In June, the respective indices stood at 78.5% and 80.1%, meaning that while a solid majority of companies are still paying higher prices, the level is slowing. Atlanta Federal Reserve Sticky CPI: The measure looks at the cost of goods that tend not to fluctuate much in price. For June, the sticky CPI’s one-month annualized rate was 8.1%, a record high in a data set that dates back 10 years. Conversely, the CPI at flexible prices stood at 41.5%, below its March high. Dallas Fed Average Cut Inflation Rate: The central bank branch takes CPI data and issues extreme readings at both ends of the spectrum. This reading for the 12-month personal consumption expenditure inflation rate was 4.3% in June, the highest since April 1983. (The Fed prefers to use PCE prices over the CPI.) for June, registering 6.8% for the title and 4.8% for the core PCE. Unit Labor Costs: The metric looks at hourly compensation versus productivity and was 10.8% for the second quarter compared to the prior period. The four-quarter reading of 9.5% was the highest since the first quarter of 1982. Gasoline Prices: After hitting record nominal highs above $5 a gallon, prices at the pump have cooled down in the last month. On Tuesday, a gallon of regular fuel cost $4.03, down 66 cents from a month ago, or 14%, according to AAA. However, they remain well above the level of a year ago of $3.19. Atlanta Fed Wage Growth Tracker: Through June, the three-month moving average for wages posted a 6.7% gain from a year ago, a record high for a data series dating back to March 1997. Job changers were doing particularly well, with a 7.9% increase. Average hourly earnings: The BLS reported last Friday that while payroll growth is fast, so are wages, with average hourly earnings up 5.2% from a year ago. BLS Employment Cost Index: The measure, closely watched by the Fed as it smoothes data for composition effects, rose 5.1% in the second quarter, a record gain for data dating back to 2002. BLS Actual Average Hourly Wage: Alas, the large wage gains have not been enough to keep up with the cost of living. Inflation-adjusted hourly earnings fell 1% in June and 3.6% over the past year. New York Fed Survey of Consumer Expectations: The closely watched measure of consumer sentiment showed a substantial decline in the outlook for inflation. Respondents to the July survey saw inflation rising 6.2% a year from now and 3.2% three years from now, down from respective June readings of 6.8% and 3.6%. While moving in the right direction, these numbers are still well above the Fed’s long-term 2% target.


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City council approved a development permit for Cottonwood Centre for a new liquor store and three new commercial retail units as part of the ongoing redevelopment.
Form and character for the proposed changes were approved by council Jan. 10, subject to the design review advisory committee recommendations that were suggested in August.
The proposed renovations include removing the food court area in the mall, along with a section of the Dollarama, and the creation of a new mall entrance and a separate entrance to the proposed liquor store.
They’re expecting to move the garbage/compactor areas, build a liquor store loading dock and reconfigure the parking with new line painting and renovated parking islands.
In support of the application, the applicant has also submitted a CPTED (Crime Prevention Through Environmental Design) report prepared by Jensen Hughes.
“The proposed renovations are architecturally co-ordinated with the overall design of the redevelopment occurring on site and complement the surrounding development,” according to the substantiation in the staff report contained in the Jan. 10 agenda package.
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Will we see an Olympus OM-D announced at Japan's CP+ Camera & Photo Imaging show?
Picture via 43Rumors
Olympus OM-D rumours
Olympus has hinted at a new camera, taking out an advert in our sister title Amateur Photographer, announcing that a new camera is on its way. No precise details were given, apart from the letters O and M printed in bold, hinting that the new camera will hark back to the popular OM film SLRs from Olympus. Coincidently, the OM series celebrates its 40th anniversary this year.
There have also been a couple of tightly cropped shots leaked on the internet that purport to be parts of an OM-D – the name many people expect will be the name of the new camera, thanks in part to Olympus Germany trade marking it. For images and more info, click here.
Kyodo News International has suggested that the OM-D will be the top model in the company’s mirrorless system, sitting above the PEN E-P3. Rumours suggest that the OM-D will have a resolution of 16MP and equipped with high-speed autofocus.


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Blimpie has released two pizza subs, according to a press release.
The Original Pizza Sub features pepperoni, crumbled sausage, green peppers, melted provolone, marinara sauce and oregano. The Spicy Hawaiian Pizza Sub is topped with ham, bacon, diced pineapple, caramelized onions, jalapenos, melted provolone and marinara sauce.
“Blimpie is thrilled to introduce our new pizza subs to menus nationwide,” Sam Carity, director of marketing for Kahala Brands, parent company of Blimpie, said in the press release. “Our new limited-time offerings combine beloved pizza toppings into two toasty, mouthwatering subs that offer something for every taste and epitomize a Bigger. Better. Blimpie in 2023.”
The pizza subs are available until June 25, 2023.
Blimpie operates approximately 200 franchised units across the U.S. and abroad.


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UTICA, N.Y. – The 20th annual Mohawk Valley Antiquefest will take place Jan. 25-26 at The Stanley Theatre in Utica.
The event will be open from 10 a.m. to 5 p.m. on Saturday and 10 a.m. to 4 p.m. on Sunday.
Utica’s Vintage Furnishings is working with the theater to bring in antique dealers from all over the northeast.
“The show’s popularity, with its eclectic array of dealers and enthusiastic audience of buyers, makes it a much-anticipated event every year,” said organizer Gerald Dischiavo of Vintage Furnishings.
The show will feature 32 antique dealers, glass grinding by Tony Perretta and a 50/50 Raffle to benefit the Stanley Theatre. A broad range of merchandise and collectibles will be featured, including furniture, paintings, carpets, silver, estate jewelry, postcards, clocks and more.
There will be food available for purchase by Patrick O’Connor’s Feast and Festivities as well as beverages.
For more information please call 315-738-1333, 315-725-2612 or visit: www.vintagefurn.com.


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Today is Purple Tuesday, an international call to action to customer-facing businesses to put accessibility at the forefront of their company.
Coordinated by Purple, a disability organisation, the campaign aims to make businesses aware of the lack of accessibility currently in place for disabled people, and inspire them to make changes to improve customer experience.
The spending power of disabled people, which is known as the purple pound, is worth a staggering £2.25 trillion, but less than 10% of businesses have a clear plan to access this market.
The organisation is working with businesses such as Barclays, Marks & Spencer and Sainsbury’s. Each company must commit to at least one thing aimed at improving disabled customers; experience. The exact action taken is up to the businesses themselves and depends on their resources and needs.
For more information, visit www.purpletuesday.org.uk
Source: MS-UK 12/11/2019


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EL SEGUNDO, Calif., Aug. 1, 2023 – Reports that Mattel, Inc. (NASDAQ: MAT) is releasing a “MyCelia” Barbie made from decomposable materials are entirely false. Mattel will not be lobbying the federal government for a ban on plastic or otherwise changing its business or production practices.
Mattel is the victim of a hoax perpetrated by trolls toying with the emotions of Barbie fans everywhere,” said Michael Pellegrino, Senior Director & Assistant General Counsel, Mattel. “We will expose them and bring the full force of the law against these bullies. Mattel is all about fun, and this is not fun.
Additionally, Daryl Hannah is not a Mattel partner, nor is Mattel connected with Russian dissident band Pussy Riot. Although Mattel deplores acts of violence against environmental defenders, the company will not be making dolls based on murdered South American ecoactivists, or transitioning to biodegradable materials, as published on the illegal fake website.
“The memories of these people have been cruelly dishonored by these pranksters,” said McKnight. “Furthermore, those who died do not represent a market demographic that Mattel serves, so the very idea that Barbie would glorify them is patently absurd.”
Mattel is not involved in a virtual press conference occurring today with Ms. Hannah or any other celebrities, and will alert authorities to prevent the event from happening.
“Barbie is enjoying a cultural moment that she has earned thanks to her iconic status and devoted following,” continued Pellegrino. “It’s a shame that a few sour opportunists want to steal her spotlight for their own agenda. There is a time and a place for appropriate conversations regarding toy manufacturing and the environmental crisis, but this is not it. Fortunately Barbie’s spirit is strong, fun, and resilient, and she will overcome this.”
Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, Masters of the Universe®, Monster High® and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming and digital experiences, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.
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Central Bank of Kenya Raises Base Lending Rate to 7.5%: How It Will Affect You
- Monetary Policy Committee (MPC) reviewed and announced it had raised the base lending rate by a quarter percentage
- The committee cited elevated risks to inflation outlook and supply chain disruptions as the main reasons that informed decision to raise the base lending rate from 7% to 7.5%
- Kenyan lenders will have to adjust their interest rates on loans in line with the new rate, thus raising the cost of borrowing
Central Bank of Kenya has raised the benchmark interest rate from 7% to 7.50%, and this simply means the cost of borrowing has gone up.
The new benchmark comes in the wake of rising cost of living with a majority of Kenyans struggling to put food on the table, many of them surviving on one meal a day and others going to bed on empty stomachs as prices of food items continue to soar.
Unga, oil and gas prices up
Cost of ugali, Kenyans’ staple food, has been on the rise; cooking oil prices have hit household budgets hard, and so is the cost of cooking gas. To say that times have been tough for Wanjiku would be an understatement.
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And now, it could get harder, especially for the low-income Kenyan households and small businesses that desperately need the loans to survive through the tough economic times. This is because the interest you will pay on that loan will be much higher.
It’s not Central Bank’s fault
Kenya’s economy has not been spared by external shocks triggered by the Russia-Ukraine war that has seen global commodity prices rise and with it cost of living.
Just before the war, economies worldwide were only beginning to recover from the effects of the COVID-19 pandemic. The economic disruptions caused by war after pandemic necessitated review of Kenya’s monetary policy stance, according to the Central Bank.
“The global economic outlook has become more uncertain, reflecting the impact of the ongoing Russia-Ukraine conflict, uncertainty about the required policy responses in the advanced economies, effects of COVID-19 containment measures in China, and persistent supply chain disruptions.
Global inflationary pressures remain elevated reflecting the impact of the sharp increase in prices of commodities particularly fuel, fertiliser, edible oils, and wheat. Financial market volatility has also increased significantly amid the recent adjustments in monetary policy in advanced economies,” CBK's monetary policy committee stated on Monday, May 30.
It’s a global 'nightmare'
From the look of things, the rising inflation - rate of increase in prices of goods and services over a given period of time - is being felt in several economies across the world, not just in Kenyan.
That said, it is the Central Bank’s job to keep the inflation rate in check, and this it can do by either raising or lowering the Central Bank Rate (CBR), most often called benchmark rate.
What is a benchmark rate?
Benchmark rate, also called base lending rate, base interest rate, reference rate, central bank rate or just base rate, is the minimum interest rate set by central bank below which commercial banks cannot lend money.
For instance, an interest rate of 11.5% on loan would be a result of a 7.5% base rate plus the lender’s margin of 4%, taking into account factors such as credit risk.
By raising the benchmark rate, CBK sets in motion a process that will see lenders adjust their interest rates up and directly or indirectly pass the high borrowing costs to consumers.
Many other rates, including mortgage rates and interest on savings accounts are affected by a change in CBR.
Theoretically, higher borrowing costs slow down consumer spending and demand for goods and services, which in turn slams the brakes on inflation.
Raising the base lending rate is also expected to stabilise the weakening Kenya Shilling against the US dollar.
Kenyan consumers and businesses will feel the pinch of the new monetary policy stance, but the regulator's options are limited.
CBK: "The Committee (MPC) noted the elevated risks to the inflation outlook due to increased global commodity prices and supply chain disruptions, and concluded that there was scope for a tightening of the monetary policy in order to further anchor inflation expectations. In view of these developments, the MPC decided to raise the Central Bank Rate (CBR) from 7.00 % to 7.50%."
Inflation in Kenya today
The banking sector regulator noted Kenya's overall inflation increased to 6.5% in April 2022 from 5.6% in March, mainly due to higher food and fuel prices. It had risen to 7.1% as of May 31.
“Food inflation rose to 12.1% in April from 9.9% in March, largely on account of vegetable prices due to seasonal factors, and the impact of global supply chain disruptions on cooking oil prices. Fuel inflation increased to 8.5 percent from 5.8 percent driven by the rise in international oil prices.”
However, this increase in fuel prices was moderated by the national government’s measures to stabilise fuel prices and lower electricity tariffs.
The recent waiver of import duty on maize, and subsidies on fertilizer prices are also expected to continue to moderate domestic prices.
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What to do if your PPP loan is too small to help
The PPP wasn’t made with sole proprietors and independent contractors in mind. Here are other options that can help.
The Paycheck Protection Program (PPP) has been the main source of federal financial assistance to businesses struggling from COVID-19 restrictions, but some smaller businesses have been left in the dust, especially those with low profits.
Some sole proprietors and independent contractors qualified for as little as $1 in some cases, according to The New York Times. If that’s the case for your business, the second round of PPP funding won’t be much help. Instead, consider these options.
Shuttered venue grants
Yes, this program was created for saving Broadway, which went dark in March 2020. But sole proprietorships that work with eligible venues can qualify for this program too. Eligible businesses open before 2019 can receive 45% of their gross annual revenue earned during that year. Those open after January 2019 can earn six times the average monthly gross revenue in 2019.
Relying on gross revenue makes it easier for businesses with low profit margins to receive more funding. The amount you can receive is also generally higher than your standard PPP loan. If your business is still making less than 30% of its 2019 revenue during the first quarter of 2021, it could also be eligible for more funding — up to 50% of your original grant.
The most recent round of stimulus reopened the Economic Injury Disaster Loan (EIDL) grant program to small businesses that have been particularly hurt by COVID-19. To qualify, your business must be located in a low-income community and have suffered an economic loss of over 30% during the coronavirus outbreak compared to the year before. You also cannot have more than 300 employees.
If you meet these requirement, you can receive a grant of up to $10,000 by applying for an EIDL — regardless of whether you’ve been approved. If you’ve already applied for an EIDL and received a grant under $10,000, the SBA will give you the difference between $10,000 and your current grant.
The SBA hasn’t announced when it will reopened applications for EIDL grants at press time, though it has extended the regular EIDL application until December 31, 2021. But they will likely be available at the end of January.
The recent stimulus bill temporarily made the SBA’s regular small business loan program more favorable to businesses by waiving certain fees and upping SBA guarantees. It’s also expanding its microloan program to make it more accessible to small businesses. And it temporarily extended loan terms from seven to eight years.
You can apply through an SBA microloan intermediary in your area, which sets its own rates and requirements. You can borrow up to $50,000, although the average microloan is $13,000. This option is best for businesses located in rural or low-income areas, where microlenders are typically based.
Private and local loans and grants
In many states, counties and cities, it’s still possible to apply for financing through your local government — though options are more limited than they were before.
For example, the New York Forward Loan Fund is accepting preapplications for low-cost financing to New York State businesses with fewer than 50 employees. Businesses that received a PPP loan under $500,000 or an EIDL under $150,000 can qualify.
Some private organizations are also still offering relief to businesses in certain industries. For example, the Greg Hill Foundation’s Restaurant Strong Fund is offering grants to restaurants with fewer than five locations in Boston, Chicago, New York or Philadelphia to cover winterization costs. You can apply on the Restaurant Strong Fund website.
Look out for more options in the near future
With a new administration set to take office next week, it’s possible that we’ll see another round of stimulus in the coming months. This will likely include more financial assistance for individuals — and it’s possible there will be more funding for small businesses. Stay up to date by putting your name on the mailing list of a local business center in your area. You can find one by searching for local assistance on the SBA’s website.