text:
20 March 2019 | On March 18, the world celebrated Global Recycling Day. This international anniversary was founded to recognize the significance of recycling in the conservation of natural resources and securing the future of our planet.
On this year's Global Recycling Day, adelphi announced to join the StEP Initiative. The initiative seeks to drive global guidelines for the processing of electronic waste and expand support for sustainable resource recovery. Initiative members include international organizations, national government agencies, research institutes and private sector players.
Morton Hemkhaus explains the importance of the Global Recycling Day and why textile production is currently the largest area in need of improvement on the path to a sustainable economy.
World Environment Day, Earth Day, Days of Action for Sustainability – why do we need Global Recycling Day?
Morton Hemkhaus: We need Global Recycling Day to educate people about our material-intensive Western lifestyles and raise awareness of alternatives. The day aims to send a strong signal for the closure of global material flows.
The transformation of our economy into a closed, circular economy is still in its infancy. That was the finding of the latest Circularity Gap Report. Only nine percent of the global material flows are circular – and the trend is negative. This is problematic because the material footprint of the world economy – the extraction of raw materials, their processing and the resulting waste streams – accounts for over 90 percent of species extinction and water stress. The same activities also cause over half of the world's greenhouse gas emissions.
How can a circular economy counteract this?
Morton Hemkhaus: The term circular economy is too often understood in the context of traditional waste management. Many people focus on so-called "end-of-pipe" solutions, including recycling. When it comes to the circular economy, however, we should be designing products that are long-lasting, contain no toxic substances and can be further processed in cycles after the use phase. We also need to prioritize the promotion of corresponding usage and business models so that companies see themselves increasingly as providers of services for material goods.
Let's take an example. What is preventing the reorientation of textile production as a circular economy?
Morton Hemkhaus: From the point of view of the circular economy, the quality and composition of the textiles is of crucial importance to the economical recycling of fibres. Established recycling technologies rely primarily on the mechanical recycling of textile fibres – shredding, for example. This shortens the textile fibres and has a negative effect on the quality of the material. As a result, the mechanical recycling of cotton requires about 50 percent virgin fibres to create a material of equivalent quality. However, the current trend of fast fashion has led to lower fibre quality, which means that more and more old clothes are either processed into filler or burned for energy. Mixed fibres are another problem, because they are expensive to recycle at the moment.
On top of that, you've got the structure of the textile industry, whose value chains are global and difficult to regulate through national legislation. The federal government relies mainly on voluntary commitments like the Partnership for Sustainable Textiles, for example. Unfortunately, the positive effects of these voluntary commitments are limited. The issue of the circular economy gets little traction in the partnership. We discuss the background in our new study, 'Circular Economy in the Textile Sector'.
In which areas have you seen progress?
Morton Hemkhaus: At the technological level, there are a lot of promising technologies that can help recycle textiles through chemical means without the addition of virgin fibres. Many of these technologies have already reached a high degree of technological maturity, but are not economically viable due to energy consumption. This will change as soon as they reach a certain degree of scaling. At the business level, there are a variety of innovative business models, including rental services for jeans or free repair services.
And at the political level?
Morton Hemkhaus: We have seen positive developments, particularly at the European level. With the adoption of the circular economy package, the EU will, for the first time, prescribe the separate collection of textiles by 2025. Some states are already taking measures to ensure the regulated collection of used clothing. The Nordic Council of Ministers, for example, is examining the introduction of extended producer responsibility schemes for textile producers. France has had such a system since 2008. Under the name EcoTLC, the system organises the collection of clothing and shoes, which has contributed significantly to increased recycling rates in France.
We aren’t ready for that in Germany, though we do have a relatively well-functioning system for the collection of used clothing, thanks to the work of charitable organisations. The current federal government's coalition agreement even explicitly names textiles as an important waste stream. The political signals must now be followed by action in order to further expand separate collection and recycling.
What are the most important tasks for the coming years?
Morton Hemkhaus: In terms of the circular economy, our current focus includes the plastics, electronics and textile industries. adelphi spoke out in favour of a global agreement against plastic pollution two years ago. This demand met with broad public interest and was taken up by many NGOs.
Increasing digitisation and complex material composition make the question of how to collect and dispose of electronic waste in the most environmentally friendly way all the more urgent. In the Global South, this work generates creates a lot of jobs, providing a livelihood for millions of people, but it takes place primarily in conditions that are degrading and damaging to the environment.
Which projects is adephi involved in?
Morton Hemkhaus: We have implemented a large number of projects in this area in recent years. Only last year, we conducted a comprehensive study on circular economy in the textile sector on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Our hope is that this issue will be taken up in the Partnership for Sustainable Textiles and that the BMZ will take further measures to promote circular approaches in textile producing countries of the global south.
In the field of international environmental diplomacy, the European Commission has contracted us to strengthen the EU's position on circular economy and financing issues in the fora of G7 and G20. For about two years, we have also been supporting the European Union's SWITCH Asia SCP Facility, which promotes the implementation of the Agenda 2030 with a focus on sustainable consumption and production. In this context, promoting closed-loop production schemes in industrial processes is becoming increasingly important.
On behalf of the European Commission, we also support the Indian government in formulating strategies for circular economy and resource efficiency. Two years ago, for example, we welcomed a delegation of high-ranking policy-makers and were involved in the organization of the Circular Economy Mission to India last year.
In India, Ghana and Georgia, we are active in projects that focus more closely on Extended Producer Responsibility of electronic waste and promote the upgrading and integration of informal structures into existing waste management systems. Electronic waste is already one of the fastest growing waste streams worldwide. This is why we see Global Recycling Day as an opportunity to join the StEP Initiative and, in doing so, we hope to send a positive signal for the more conscious use of natural resources.
Interviewed by Christopher Stolzenberg (adelphi).


text:
Hemant PillaiAsked on 15 February, 2019
What is the price of Moto G7 Power in India?
The Motorola G7 is priced in India at Rs. 13,999 for the solo 4GB RAM and 64GB storage variant.
Aaryan ChattopadhyayAsked on 15 February, 2019
When will Moto G7 Power go on sale in India?
Moto G7 is currently available in India via Flipkart and other retail stores like Moto Hub and Motorola preferred partner stores.
Ananya BoseAsked on 15 February, 2019
What are the specifications of Moto G7 Power?
The Moto G7 Power features a 6.20-inch HD+ (720x1520 pixels) display with a wider iPhone X-like notch. The phone is backed by a Qualcomm Snapdragon 632 chipset, paired with 4GB of RAM, 64GB of expandable storage and a massive 5,000mAh battery.
Aaradhya JainAsked on 15 February, 2019
What are the camera specifications of Moto G7 Power?
On the back, the Moto G7 Power features a single 12MP camera with an f/2.0 aperture, PDAF and LED flash support. Up front, the phone offers an 8MP selfie snapper with an f/2.2 aperture.

domain: news


text:
Retailers X5 Boosts Sales
- Jul. 12 2013 00:00
- Last edited 21:09
Food retailer X5 Retail Group said Thursday that its second quarter net retail sales rose 7.8 percent, driven by an increase in selling space in its stores, higher prices and better performance of shops added over the past two years.
Net retail sales totaled 133 billion rubles ($4 billion), the company said. However, second quarter like-for-like sales fell 0.4 percent in ruble terms, driven by a decrease in customer numbers, it said.


text:
During the afternoon of Monday, April 8, we will experience a Total Solar Eclipse around 1:41 p.m. While this is a very rare event, there are many safety items to consider.
- View the sun through eclipse glasses or a handheld solar viewer during the partial-eclipse phases before and after totality.
- You can view the eclipse directly without proper eye protection only when the moon completely obscures the sun’s bright face – during the brief and spectacular period known as totality. (You’ll know it’s safe when you can no longer see any part of the sun through eclipse glasses or a solar viewer.)
- As soon as you see even a little bit of the bright sun reappear after totality, immediately put your eclipse glasses back on or use a handheld solar viewer to look at the sun.
- DO NOT look at the sun through a camera lens, telescope, binoculars, or any other optical device while wearing eclipse glasses or using a handheld solar viewer — the concentrated solar rays will cause serious eye injury.
If you are driving during the event:
- Ensure your vehicle headlights are on;
- DO NOT wear eclipse glasses while driving;
- DO NOT take pictures or video while driving;
- DO NOT pull over or stop on the roadway and/or shoulder to view the eclipse;
- Be aware of increased pedestrian traffic.
Consider riding one of Trinity Metro’s buses to enjoy the event at the Fort Worth Botanic Garden or the Fort Worth Museum of Science and History. Trinity Metro has partnered with them to provide safe transit for people traveling to locations with eclipse-related events. For details, go to RIDETRINITYMETRO.org/ECLIPSE.


text:
Ongoing shortages of scabies treatments are posing a ‘significant threat’ to public health, the British Association of Dermatologists (BAD) has warned.
Earlier this month, the Department of Health and Social Care issued a medication supply notice for permethrin 5% w/w cream, advising it was in ‘limited supply until further notice’ due to an increase in demand.
It added that a second treatment malathion liquid is also currently unavailable and crotamiton 10% cream while licensed for scabies is needed to meet demand for other conditions.
But unlicensed permethrin cream may be sourced from some manufacturers, the warning noted.
The notice also pointed out that ivermectin 3mg tablets are licensed for treatment of scabies, but are not marketed in the UK.
In a statement, BAD urged manufacturers to increase production of treatments in light of the widespread shortages, reports of which have been going on since May.
It is thought that a surge in demand for scabies treatments across Europe, supply chain issues, and increases in the cost of raw materials have all contributed to the shortage.
With permethrin and malathion unobtainable, there are no alternatives which are widely available, affordable and effective, the association said.
BAD president, Professor Mabs Chowdhury said it was not an issue that would just go away: ‘The shortage of treatments for scabies is a major public health concern. This a common condition, which is highly contagious. The ease with which it spreads highlights the urgency of maintaining an adequate supply of effective treatments.’
He added: ‘We urge manufacturers of permethrin and malathion to do everything in their power to increase production.
‘We also call on regulators, such as the MHRA, and the Government to give the necessary support to manufacturers and suppliers to enable them to rapidly resolve the issue.’
Dr Tess McPherson, President of the British Society for Paediatric and Adolescent Dermatology, added: ‘Scabies disproportionately affects the most vulnerable in society, including young people.
‘It is important to state that you do not get scabies because you are unhygienic, and we must reduce any stigma associated with having scabies so that people do seek treatments when needed. Any reduced access or availability of treatments will have a major impact.’
A Department of Health and Social Care spokesperson said: ‘We are aware of current difficulties obtaining permethrin 5% cream supply due to an increase in demand for the product.
‘Manufacturers are continuing to supply it and we are working with them to ensure that deliveries are expedited and increased where possible.
‘Scabies is not usually a serious condition but we would advise anyone who is concerned to speak to their GP or pharmacist.’
A version of this article first appeared on our sister site Pulse.


text:
All the smartphone brands are increasing prices of their smartphones in India due to the GST hike and falling rupee value. After Oppo, other brands like Vivo, Poco and Realme has announced new prices in the country. Poco has increased the price of all variants of Poco X2 and it now starts at Rs 16,999 from the earlier Rs 15,999. The Realme 6 and Realme 6 Pro also got a new price hike of Rs 1,000 and the prices now start at Rs 13,999 and Rs 17,999, respectively. On the flip side, Vivo has announced a price hike of various existing models including the phones like Vivo S1 Pro, Vivo V17 and Vivo U20 which were launched at the end of 2019. While smartphone companies are announcing revised prices today, the actual sales might only begin after the lockdown period.
Poco X2 Price in India Now Starts at Rs 16,999
The Poco X2 was one of the best smartphones announced last year. Starting at Rs 15,999, the Poco X2 offers features like Snapdragon 730G SoC, 64MP quad-camera setup with Sony IMX686 primary lens, 4500mAh battery and glass body. The new prices of Poco X2 are Rs 16,999 for the 6GB+64GB model, Rs 17,999 for the 6GB+128GB variant and Rs 20,999 for the 8GB+256GB variant. Old prices of the Poco X2 were Rs 15,999, Rs 16,999 and Rs 19,999.
Realme 6 Series Receive Rs 1,000 Price Hike
Moving onto the Realme 6 series, there are two smartphones- Realme 6 and the Realme 6 Pro. The Realme 6 is now priced at Rs 13,999 for the 4GB+64GB variant, Rs 15,999 for 6GB+128GB model and Rs 16,999 for the 8GB+128GB model.
The Realme 6 Pro which is already receiving rave reviews for the starting price of Rs 16,999, will now be available at Rs 17,999. The 6GB+64GB model of Realme 6 Pro will be retailing at Rs 17,999, followed by the 6GB+128GB and 8GB+128GB models at Rs 18,999 and Rs 19,999, respectively.
Vivo V17, S1 Pro and Other Phones Also Get Price Hike
Vivo has revised the prices of various smartphones including the recently launched models like Vivo V17, S1 Pro and Vivo U20. The new MOP of the Vivo Y91i (2GB+32GB) is Rs 7,990 and the same for 3GB+32GB model is Rs 8,990. The Vivo Y11 with 3GB of RAM and 32GB of storage will be priced at Rs 9,990 and the Vivo Y12 with 3GB of RAM and 64GB of storage costs Rs 10,990.
The Vivo S1's 4GB+128GB model will be available at Rs 17,990, followed by the 6GB+128GB variant at Rs 19,990. Vivo's U20 that was launched recently can be picked up via offline stores at Rs 19,990. The Vivo U20's 8GB+128GB variant is only available in the offline market.
Lastly, the Vivo S1 Pro's 8GB+128GB model costs Rs 20,990 and the same model of Vivo V17 is priced at Rs 24,990.


text:
In what seems like an ember surprise, Gulder Lager Beer, organizers of the Gulder Ultimate Search (See explained-why-the-gulder-ultimate-search-was-stopped) reality tv show have announced the return of the classic Nigerian TV show to our tv screens. For many people, this is good news and a very intelligent move by Gulder Lager Beer.
The Gulder Ultimate Search (Find out what-the-gulder-ultimate-search-is-all-about) since its debut in 2004 has successfully run 11 editions before the termination of the show in 2012. The 2021 edition promises to be a great and a better comeback.
Below is some vital information you may want to know about the 12 th edition of the Gulder Ultimate Search (Check out A grand review of the last Gulder Ultimate Search) Reality Tv show.
2021 GUS Theme
The 2021 edition of the GUS show comes with an interesting theme. The theme for this year is “The Age of Craftsmanship”. This edition will see 16 contestants craving for survival until the last person standing.
2021 GUS Registration
Since the opening of the registration portal, the GUS has received thousands of Applications from across Nigeria.
Many are motivated to apply for the show because of the benefits that are attached and also the fame and opportunities that come after the show.
According to the information available on the website of the organizers, the application will run from
1 st September until 14 th September.
2021 GUS Location and Security Concerns.
Each edition has a specific location. For this edition of the GUS, no specific location has been announced yet. However, due to security concerns around the country, the company has promised to beef up security around the venue. Organizers of the show have also announced that locations with security concerns will be avoided.
How Much will be given to the Winner in GUS 2021
The lucky winner of this edition is expected to go home with a cash prize of N50 million and a brand-new SUV. The organizers also announced that in this edition of the show, other contestants of the show will also go home with a cash prize of 20 million Naira, apart from other gifts.
GUS 2021 Guidelines
To apply as a contestant, you must be at least 21 years of age and not more than 35 years. The application process for this edition is very easy.
Make sure you have your Biodata records, a nice picture of yourself, and a 1-minute video explaining why you should be selected. If have all the needed information and documents ready, you can visit the official website for GUS 2021 here.
If you are shortlisted, you will be required to attend a regional training exercise in your region. If you are successful at the regional level, you will be invited to Abuja to undergo another selection process on September 14.
2021 GUS Application Form
The application for the 2021 edition of the Gulder Ultimate will strictly be online. The official website for the 2021 GUS show is www.gulderultimatesearch.ng.
When will Gulder Ultimate Search Begin?
The 2021 edition of the Gulder Ultimate Search code-named “The Age of Craftmanship” will begin on October 16 and end on December 19, 2021.
Where can I Watch GUS 2021?
You can watch the 2021 edtion of the Gulder Ultimate Search on the following channels:KAFTAN TV
- Lagos Television
- Nigerian Television Authority
- Rave TV
- TVC Entertainment
- Arise News
- Channels TV
- DBN TV
- Galaxy TV
- Plus TV Africa
- Silverbird Television
You can also watch the show on YouTube, Instagram, Facebook live and Twitter.


text:
OTTAWA — Canada’s plans to mimic the American ACE program with its own electronic border pre-clearance system could spread the responsibility for gathering and presenting data on goods across the supply chain. But, as the Canadian Trucking Alliance points out, if other partners don’t do their part, it’s still truckers that’ll pay the most.
Currently, the Customs Act places onto truckers the sole responsibility of providing advance information to the Canada Border Services Agency (CBSA) before the trucks arrive at the border, even though many times the carrier does not own or package the goods.
If the data is incorrect, the truck can be delayed at the border for further inspection or it can be moved in-bond to a secure inland facility under CBSA control for customs clearance at a later date.
Legislation to amend the Customs Act (Bill S-2) — which leads the way for Canada’s version of the ACE program, the Advanced Commercial Information (ACI) initiative — could remove the sole obligation for the carrier to gather and present the required data and introduce, "a fairer sharing of the responsibility by all supply chain partners," says CTA’s David Bradley.
Both carriers and importers — or their customs brokers — therefore, will have to submit information to CBSA electronically in advance of a truck’s arrival at the border.
"CTA believes that over time there has been far too much regulatory obligation placed on the carrier community relative to other supply chain partners and the proposed amendment could provide better balance," Bradley told the Senate Committee on National Security and Defence.
However, in cases where the carrier and the importer data has not been received and approved prior to a truck’s arrival at the border, CBSA is considering eliminating the option of moving the load in-bond to an inland facility for clearance and instead could turn the truck around.
"This could substantially impact the efficient movement of goods into Canada," says Bradley. "By enabling carriers to proceed beyond the border, in-bond moves help avoid costly delays and the truck, trailer and driver rather than sitting at the border are freed up to get back to productive operation.
"While the obstacle may not be caused by the carrier, it is the carrier’s truck and driver that will be held up on the U.S. side of the border,” he said.
Bradley explains that at least initially, importers could have difficulties providing IAD information. LTL shipments are particularly at risk of being delayed as the goods could belong to several importers. Even if one importer’s data is not received on time, the whole shipment will be stopped and returned to the U.S. — possibly, Bradley points out, to an insecure facility or a vacant parking lot to await the transmission of the data.
The simplest solution would be to continue allowing carriers the ability to move goods inland in-bond when the IAD has not been received, urges Bradley.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.


text:
Digital TV News: Vimeo
True Royalty TV scales D2C service with Vimeo OTT technology
Oct 29, 2019 – True Royalty TV has announced that it is using Vimeo’s OTT technology to accelerate its direct-to-consumer business. Vimeo now powers True Royalty TV in all markets, including the U.S., U.K., Ireland, Canada, Australia and New Zealand.
News categories: Vimeo, True Royalty TV, Kathleen Barrett, Gregor Angus, Apps, Australia, Canada, Content Distribution, Digital TV, Ireland, New Zealand, OTT, UK, USA
Worldwide TV shipment growth hits 8-year high
Jul 1, 2019 – Worldwide TV shipments are riding high, ending 2018 with the strongest growth rate this decade, with value up by 6%, according to Futuresource Consulting. 8K shipments will grow from 0.2 million units in 2019 with a 130% CAGR through to 2023.
News categories: Futuresource Consulting, Matthew Rubin, Digital TV, Market Research, Smart TV, Worldwide
Vimeo adds support for AV1 codec
Jun 13, 2019 – Vimeo has announced support for royalty-free video codec, AV1. The AV1 codec enables high-definition and ultra-high-definition video content to be streamed to audiences at a reduced bitrate without compromising visual quality.
News categories: Vimeo, Naren Venkataraman, Vittorio Giovara, Nathan Egge, Content Distribution, Digital TV, OTT, Worldwide
U.S. broadband households watch two hours of alternative content on a computer each week
Jul 12, 2018 – Research from Parks Associates reveals that U.S. broadband households watch an average of two hours of alternative content on a computer each week from sources including Facebook, SnapChat, YouTube, Vimeo, and Dailymotion.
News categories: Parks Associates, Brett Sappington, Digital TV, Market Research, OTT, USA
Vimeo to acquire Livestream and launch Vimeo Live
Sep 26, 2017 – Vimeo has announced an agreement to acquire Livestream, the leading live video solution. Vimeo also rolled out its own Vimeo Live product, offering professional live streaming capabilities directly through its platform for the first time.
News categories: Vimeo, Livestream, Anjali Sud, Mark Kornfilt, Digital TV, MandA, OTT, Worldwide
Vimeo helps power two Lionsgate OTT offerings
Sep 6, 2017 – Vimeo has announced that its video technology will help power two of Lionsgate’s over-the-top (OTT) offerings, the Laugh Out Loud comedy service and the Tribeca Shortlist streaming service for movie lovers.
News categories: Vimeo, Lionsgate, Kathleen Barrett, Julie Uhrman, Apps, Digital TV, OTT, USA
Vimeo ups speed with Akamai Media Acceleration
Mar 21, 2017 – Akamai (NASDAQ: AKAM) has announced the availability of Akamai Media Acceleration, designed to improve viewing experiences for OTT video consumers and accelerate video game and other software downloads.
News categories: Akamai, Vimeo, Scott Brown, Naren Venkataraman, Content Distribution, Digital TV, NABShow, OTT, Worldwide
TV accounts for 94% of UK video advertising
Mar 9, 2017 – An analysis by Thinkbox of 2016 video consumption in the UK shows how total video viewing – and viewing of video advertising – breaks down.
News categories: Thinkbox, Lindsey Clay, Digital TV, Market Research, UK
Vimeo adds 360 video support
Mar 8, 2017 – Vimeo has introduced support for 360 video. Vimeo aims to provide a home for creators to learn new techniques, upload, share, and sell 360 videos, while viewers can discover 360 videos from the world’s best creators across multiple platforms.
News categories: Vimeo, Anjali Sud, Sara Poorsattar, Digital TV, OTT, VR, Worldwide
- Riivi chooses Norigin Media for Smart TV app testing
- NexStreaming releases NexPlayer for Nintendo Switch
- Elliptic Labs to trial presence detection and gestures for Smart TV
- Carbon Trust releases white paper on CO2 impact of streaming
- ZEE5 to launch in the U.S. on June 22
- Vewd offers ATSC 3.0 integration options
- Broadpeak's CDN and Multicast ABR power Megacable's Xview+
- TEGNA selects TVSquared for ad measurement and attribution
- Lünecom deploys IPTV solution from ocilion in Northern Germany
- Gigared chooses Appear to deliver to TVs in Argentina
- Kabelnoord extends service to Samsung and LG TVs with 24i
- First football match broadcast over 5G in Portugal
- HD PLUS operator app available on Samsung Smart TVs in Ghana
- More than 11 million addressable TVs for VIZIO in the U.S.
- Viant ad platform integrates TiVo TV viewership data
- WarnerMedia trials national addressable TV with Comscore
- UK broadcasters launch ad campaign measurement tool
- Síminn creating TV bundles using Red Bee Channel Store
- MetaX launches Smart TV commercialization platform
- Only 20% of streaming subscribers content to stay with providers


text:
Gentex (NASDAQ:GNTX) had its target price raised by B. Riley from $33.00 to $38.75 in a research report released on Monday, The Fly reports. B. Riley also issued estimates for Gentex’s Q4 2020 earnings at $0.49 EPS, FY2020 earnings at $1.32 EPS and FY2021 earnings at $1.91 EPS.
Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Gentex from $32.00 to $33.00 and gave the company a buy rating in a report on Friday, October 9th. Robert W. Baird began coverage on shares of Gentex in a research note on Monday, October 19th. They set an outperform rating and a $32.00 price target for the company. BidaskClub raised Gentex from a sell rating to a hold rating in a report on Tuesday, October 13th. KeyCorp increased their target price on Gentex from $33.00 to $36.00 and gave the stock an overweight rating in a report on Monday. Finally, TheStreet lowered Gentex from a b rating to a c+ rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $31.47.
GNTX stock opened at $27.39 on Monday. Gentex has a twelve month low of $19.48 and a twelve month high of $31.27. The company has a market cap of $6.73 billion, a PE ratio of 23.21 and a beta of 1.13. The business’s 50-day simple moving average is $26.85 and its 200 day simple moving average is $26.20.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 23rd. The auto parts company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $474.60 million for the quarter, compared to analyst estimates of $459.79 million. Gentex had a return on equity of 16.26% and a net margin of 18.60%. Gentex’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Research analysts predict that Gentex will post 1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Friday, October 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Thursday, October 8th. Gentex’s payout ratio is currently 28.92%.
In other Gentex news, CEO Steven R. Downing sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.81, for a total value of $154,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin C. Nash sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $25.81, for a total transaction of $77,430.00. Following the completion of the sale, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $775,332.40. The disclosure for this sale can be found here. In the last three months, insiders sold 32,700 shares of company stock worth $897,075. Insiders own 0.37% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Clark Capital Management Group Inc. bought a new stake in Gentex during the second quarter valued at about $17,106,000. Marshall Wace LLP lifted its position in shares of Gentex by 202.3% during the 2nd quarter. Marshall Wace LLP now owns 927,008 shares of the auto parts company’s stock worth $23,889,000 after purchasing an additional 620,310 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Gentex by 118.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 709,042 shares of the auto parts company’s stock valued at $18,272,000 after purchasing an additional 385,011 shares during the period. Prudential Financial Inc. increased its position in Gentex by 182.6% in the 2nd quarter. Prudential Financial Inc. now owns 531,418 shares of the auto parts company’s stock worth $13,694,000 after buying an additional 343,358 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Gentex by 48.5% during the second quarter. TimesSquare Capital Management LLC now owns 950,000 shares of the auto parts company’s stock worth $24,482,000 after buying an additional 310,200 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It operates through Automotive Products and Other segments. The company designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.
Further Reading: What is a Swap?
Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.


text:
comScore released new findings on e-commerce spending in the U.S. in the fourth quarter. They were up 14% from the year-ago quarter, reaching about $49.7 billion.
That makes nine quarters in a row for positive year-over-year growth in U.S. e-commerce spending. In fact, that’s five in a row for double digit growth.
E-commerce spending in the U.S. reached a record $161.5 billion for all of 2011, according to the firm. That’s up 13% from 2010.
comScore’s highlights the following:
- The top-performing online product categories were: Digital Content & Subscriptions, Jewelry & Watches, Consumer Electronics, Toys & Hobbies, and Computer Software. Each category grew at least 18 percent vs. year ago.
- Ten individual days in Q4 surpassed $1 billion in online spending, led by Cyber Monday (Nov. 28) at $1.251 billion. Monday, Dec. 5 ranked second at $1.178 billion, followed by Green Monday (Dec. 12) at $1.133 billion.
- 52 percent of e-commerce transactions included free shipping, representing an all-time high. The previous high was Q4 2010 at 49 percent.
- Smartphones and tablets played a growing role in online shopping, with consumes increasingly using smartphones to check prices and product features while physically in a retail store.
“The fourth quarter of 2011 capped off what was yet another strong year for online retail, one in which every quarter achieved double-digit increases versus the prior year,” said comScore chairman Gian Fulgoni. “In the face of continuing uncertainty regarding the U.S. economy, consumers increasingly went online for their shopping needs. Price and convenience continue to be the critical value drivers for e-commerce, and unless those conditions change we can expect to see more channel-shifting to online in 2012 and perhaps even an acceleration in the current growth trend.”


text:
CHEYENNE, Wyo. (AP) - Wyoming Sens. Mike Enzi and John Barrasso say a Russian trade and human rights bill that has cleared Congress will benefit Wyoming products.
The two Republicans say soda ash, oil field equipment and beef are just a few of the Wyoming products that will be able to fairly compete in Russian markets because of the bill.
Enzi says the legislation would give America the opportunity to challenge unfair trade practices in the World Trade Organization if Russia does not honor its commitments
President Barack Obama still needs to sign the measure, which Russia has heavily criticized because of certain human rights provisions.


text:
Cognetics Inc., a company that analyzes historical data on 7.5 million small businesses in the United States, has withstood the test of time it uses to measure other firms.
``We`ve crossed the bridge in getting past the critical four-year mark that determines the direction a business takes,`` said Cognetics founder David Birch.
Birch gained national attention in 1979 when he issued a report showing that small businesses, not the Fortune 500, generated most of the nation`s new jobs. The report energized the small-business lobby and turned the heads of politicians and bureaucrats to the problems of small-business owners.
Birch, a researcher at the Massachusetts Institute of Technology, practices what he preaches. He is a small businessman who studies other small businesses.
``After four or five years, a small company falls into one of two categories: becoming an income substitution business--a no-growth business--or an entrepreneurial business,`` Birch said. ``We`ve passed that test and added more employees. Our growth has accelerated, and we`ve established ourselves as entrepreneurs.``
Cognetics has gone from 4 to 15 employees since it was founded in 1983. The company has a staff of 10 in its home office in Cambridge, Mass., and 5 employees in London at Cognetics Europe.
The company has sought to set itself apart from other research firms.
``We didn`t want to be a data company,`` said Birch, 50. ``We didn`t want to be a company that sells facts. We wanted to sell knowledge. The main business we`re in is helping corporations understand and relate to this booming, buzzing confusion of the 7.5 million companies.
``The large companies know how to relate to the Fortune 500, but they don`t know how to relate to the 7.5 million.``
From 1974 to 1979, Birch and a team of MIT researchers looked into what he terms the ``atomic matter of which the economy is built`` by examining old data he leased from Dun & Bradstreet Corp., the largest marketer of business information and services. His findings showed that small businesses generated 66 percent of all new jobs between 1969 and 1976, and that most new jobs were created by companies with 20 or fewer employees.
Birch`s project culminated in his 1979 report, ``The Job Generation Process.`` It also laid the foundation for Cognetics.
Cognetics started with 5.5 million small companies as its research base by paying Dun & Bradstreet to use its listings on small companies.
Cognetics has a marketing staff, systems people and a group that produces ``a kind of computerized little black book.`` Its analyses include when a firm began, its manufacturing operations, its financial standing, its prospects or perils, even the pitfalls it is likely to meet.
``We provide market studies for clients and generate statistics for our studies on companies and job creation,`` Birch said. ``We give an overview of the kind of firm and note whether it`s high-tech or innovative in applying new methods to old ways.
``So far, we`ve made the grade in making it as a small business ourselves by being innovative,`` he said. ``Research is research. The trick was being able to apply something new, innovative to our system, to make the studies we do for clients more complete.``
Birch said Cognetics differs from Dun & Bradstreet in that a Cognetics analysis goes into the dynamics of a company.
In Illinois, 255,000 small businesses account for 94.4 percent of all business in the state. These small firms employ more than 3.8 million workers, or 66 percent of the state`s work force.
In the next 10 years, Cognetics` research predicts, 150,000 new jobs will be generated in the city of Chicago and 878,000 in the Midwest.
``Although this will be below the national average for jobs generated for the same period, there will be some gains in the Midwest,`` Birch said. ``The new jobs are coming from high-innovative companies.``
He said jobs are also being created by service-oriented, entrepreneurial firms, ``the kind of company that starts small with plans to grow.``
``Plans to grow big, if they are going to happen, generally materialize once the company has gotten to its four- or five-year mark,`` he said.
Birch, who describes himself as a student of small business, majored in physics at Harvard University. After working as an administrator for the National Aeronautics and Space Administration in the 1960s, he got his master`s and doctoral degrees in business administration from Harvard Business School. He became a researcher in 1973 with the Joint Center for Urban Studies of MIT and Harvard.
Birch peppers his conversation with examples of small, innovative companies and how conglomerates try to plug into them.
One firm he cites is Great Plains Software, based in Fargo, N.D. The company, founded in 1981, began with 10 employees and now has about 150. Great Plains develops, markets and supports accounting software for microcomputers, aiming primarily at small and medium-sized businesses.


text:
IMF Chief Kristalina Georgieva has given an optimistic projection of the Global Economy and indicated that global recession is declining on account of falling inflation and reopening. She has also revealed that cost of living was the primary reason for surge in global inflation and it is now on the wane.
Cost of Living crisis primary reason behind inflation spike subsides
However she stated that many countries in the world would continue to face inflation, increased food and energy costs and had this to remark,
“We see inflation finally trimming down in quite a number of countries. The chance of finally getting on top of the problem of cost of living being a major disrupter for millions and millions of people, we see light at the end of this tunnel,”
IMF had predicted last month that this year’s global consumer price growth would moderate to 6.6%. Following 8.8% in 2022, this would be 0.1 percentage point higher than the prediction made in October. The IMF also predicted a slowdown to 4.3% in 2024 and lower inflation rates in 84% of nations in 2023 compared to 2022. Global GDP growth is anticipated to reach 2.9% in 2023, which is 0.2 percentage points higher than what the IMF had predicted in October.
Also Read: Elon Musk Assessing Bid for Manchester United After Glazers Announce Sale
IMF Chief expresses concerns about falling global growth rate
IMF recently had raised its global economic outlook for the first time in a year, which was based on US spending and China’s reopening its economy after Covid. Further IMF Chief Kristalania Georgieva has also expressed concerns about falling global growth owing to Covid Pandemic , Russia’s invasion of Ukraine and deadly earthquake that hit parts of Turkey and Syria.
IMF Chief said,
“The world economy is still in a very difficult place. Global growth is slowing down in 2023 but it might be a turning point,”
Georgieva said this in response to reports that annual inflation has recently declined in the US, the Eurozone, and the UK. She said that there are indicators that inflation is retreating from its four-decade peak. However she has cautioned against over optimism and has cautioned it would still be a painful year for people around the world, and there was a risk stronger growth in China would boost energy prices and make the fight against inflation harder.
Also Read: Stock Market Today: SGX predicts a flat opening amid mixed global cues
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.


text:
MEDIA ALERT: Fraudulent Competition E-mail/Text Message Scam
Sept. 29, 2009
Melbourne, Australia – September 29, 2009 – Motorola has become aware of a recent series of fraudulent e-mails and text messages purporting to be from Motorola. The e-mails/text messages at issue inappropriately use Motorola trademarks and indicate to the recipient that he/she has won a prize (usually in large sums) in a Motorola Competition. Motorola would like to confirm that the e-mail/text message in question has not been sent or authorized by Motorola.
Rather, it appears to be the latest in a series of fraudulent “phishing” scams that have affected organizations and e-mail/text message recipients across nearly all industries and regions. The true intent of such “phishing” attempts appears to be to acquire the personal information of the recipients and/or to defraud those recipients. Motorola strongly advises recipients not to respond to the points of contact mentioned in such e-mails and/or text messages, and asks that you forward any such suspicious e-mail or text message correspondence that purports to originate from Motorola to email@example.com. For additional practical tips on protecting oneself from Internet fraud, including phishing attempts, please visit http://www.onlineonguard.gov/phishing.html.
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE: MOT) had sales of US $30.1 billion in 2008. For more information, please visit www.motorola.com


text:
☆ NintendObs Weekly – Monday, April 16, 2018 – Sunday, April 22, 2018.
Nihilumbra on Nintendo Switch next May 3rd!
APR 17, 2018
On May 3rd, the award-winning platform-adventure game Nihilumbra will be out on Nintendo Switch. After being named “App Store Best of 2012”, winning many other awards (such as“Casual Connect: Indie Award 2012”) and releasing the game in almost every existing platform, the studio from Barcelona BeautiFun Games will release the Switch version.
After being showcased at GDC18 (San Francisco), the upcoming puzzle-adventure game Professor Lupo and his Horrible Pets has also been announced for Switch (Fall ’18).
Have a wonderful day,
BeautiFun Games Team.
…Wanna play? Buy a Switch.
And if you’ve already got yours, click on Nihilumbra for everything you need to know about the game. 😀


text:
Increase is in response to rising consumer demand for organic milk
BROOMFIELD, Colo., Feb. 27 /PRNewswire/ -- Horizon Organic(R), the nation's leading organic dairy company, today announced that the brand expanded its farmer partner network by 116 farms in 2007, bringing the total to nearly 450 family farmer partners in 22 states across the country. Additionally, nearly 100 more farms are in transition to becoming certified organic.
"Family farms have been at the heart of Horizon Organic since the beginning," says Jule Taylor, vice president of dairy operations for Horizon Organic. "The more partners we're able to help transition to organic, the more organic milk will be available for consumers and the more acres we will transition to organic which is better for the land, animals and the planet."
To help grow the family farmer network, the Horizon Organic Producer Education (HOPE) program, launched in 2001, provides technical and financial assistance to farmers as they transition from conventional to organic production. The program continues to help secure future organic milk supply, ensuring Horizon Organic can provide a sustainable future for family farms while continuing to meet growing consumer demand.
"Through this program, we're able to support hundreds of organic family farms nationwide," says Taylor. "Family farmers need help to convert to organic. Through the HOPE program, we provide the necessary educational, technical and financial assistance they need to make a successful transition."
In addition to economic sustainability, converting farms to organic agriculture supports Horizon Organic's mission to promote stewardship of the land and provide a healthier environment for both people and animals. Since 1991, Horizon Organic has helped to convert more than 250,000 acres of farmland to organic production.
For more information about the Horizon Organic farmer network and how organic farming benefits farmers, animals, the environment and consumers, visit http://www.horizonorganic.com. Farmers interested in learning more about the HOPE program and organic dairy practices should call 1-888-648-8377.
About Horizon Organic
Horizon Organic, founded in 1991, was the first certified organic dairy to distribute products nationally in the United States. The company remains true to its vision for a more organic planet, purchasing milk from nearly 450 certified organic dairy farms and providing certified organic dairy products to natural foods retailers and supermarkets across the country. Horizon Organic's products are produced without the use of antibiotics, added growth hormones, or harmful pesticides. That's the organic promise from our farmers to consumers. For more information on the growing world of organic, visit http://www.horizonorganic.com.
|SOURCE Horizon Organic|
Copyright©2008 PR Newswire.
All rights reserved


text:
The foodservice industry tends to be a leading indicator of how well the economy is going to perform, says Joe Pawlak, vice president of Chicago-based Technomic Inc. “When a recession is coming, typically foodservice sales will start dropping about six months before that, because it’s a discretionary purchase and one of the few things consumers will cut back on,” he explains. “Conversely, once we come out of a recession, foodservice is one of the few areas that comes back, where consumers are going to spend more because they have more discretionary dollars in their pockets. They may not be going back to buying houses or cars, but they’re spending whatever extra money they’re starting to get back in foodservice.”
Technomic reports that overall food and non-alcohol beverage sales in the foodservice industry reached more than $625 billion in 2013, achieving 3.8 percent nominal growth and 0.9 percent actual growth, according to its May 2013 data. This includes venues in schools; medical facilities; lodging, transportation and recreation areas; and military bases, as well as caterers; restaurants; and foodservice in supermarkets, convenience stores and other retailers. Technomic also predicts that this growth will continue into 2014 with 4.1 percent nominal growth and 1.1 percent actual growth.
More specifically, nominal restaurant sales rose 4.2 percent to $425.6 billion in 2012, according to the 23rd edition of the “Chain Restaurant Industry Review” by GE Capital, Franchise Finance (GEFF), Scottsdale, Ariz. Full-service restaurant sales increased 3.1 percent to $202.2 billion, while quick-service restaurant sales increased 5.6 percent to $179.3 billion, it reports. GEFF also projects that restaurant sales will increase 3.8 percent to $441.9 billion this year. This growth is a sign that U.S. consumers are more confident about their disposable income levels, it states.
Technomic’s Pawlak adds that consumer time constraints also are fueling channel growth. “People don’t have time to cook anymore at home,” he says. “They go out to eat, and even if they’re not eating at a restaurant, they’re taking out, taking it home, or taking it to lunch in their offices.”
In addition to this convenience factor, consumers expect value from foodservice venues, according to Chicago-based Mintel’s April 2013 report, “The Dining Out Experience – US.” In a November 2012 survey, Mintel found that 40 percent of consumers interviewed had taken advantage of value or dollar menu options in the last month, while 38 percent used coupons from newspapers, mailings and other advertisements, it reports.
Light vs. indulgent
Low-calorie menu options also are helping foodservice venues please consumers. According to Washington, D.C.-based Hudson Institute’s February 2013 report, “Lower-Calorie Foods,” chains that increased their lower-calorie food servings experienced increases in overall food servings while other chains recorded declines from 2006 to 2011. In line with this, the company also reported that within the 21 restaurant chains analyzed, including McDonald’s, Burger King, Wendy’s, Sonic, Panera Bread, Taco Bell, Applebee’s, Cracker Barrel, Chili’s, IHOP and Olive Garden, among others, lower-calorie beverage options, specifically those containing 50 or fewer calories in each 8-ounce serving, outperformed traditional beverages. In 2011, lower-calorie beverages captured 34.1 percent of total beverage sales in the channel with a 9.5 percent increase in servings, compared with a 1.6 percent increase for traditional beverage servings and a 4.1 percent increase for total beverage servings, the Hudson Institute reports, citing data from NPD Group, Port Washington, N.Y.
Low-calorie beverage options continue to pop up on foodservice menus this summer as well. Minneapolis-based Dairy Queen introduced its Orange Julius Light Smoothies as part of its national roll-out of Orange Julius Premium Fruit Smoothies and Julius Originals to its more than 4,000 Dairy Queen locations in the United States and Canada. Orange Julius Light Smoothies, which contain 170 calories or fewer in a small smoothie, are made with real fruit, do not contain any artificial flavors, and are available in Orange, Strawberry, Strawberry Banana, Tripleberry, Mango Pineapple, Berry-Pom, Orange Berry and Piña Colada varieties.
Similarly, Caribou Coffee Co. Inc., Minneapolis, added four “lite” sparkling teas and juices to its Caribou coffeehouse menus. The drinks contain half the amount of calories of Caribou’s original sparkling teas and juices, are made with real fruit and tea, and are available in Green Tea Lemonade, Peach Black Tea and Lemon Ginger Pomegranate varieties as well as a limited-time Apple Raspberry variety.
On the flipside of this trend, consumers also are using beverages from the foodservice channel to indulge themselves, Technomic’s Pawlak notes. “I think consumers are still indulging themselves in those types of beverages, whether they be coffee, specialty coffee beverages, or smoothies or frozen-fruit-type drinks,” he says. “There’s still a lot of growth in that area.”
Specialty coffee is growing very solidly, Pawlak says. “We’re seeing good growth there as more and more operators are getting involved and offering those products,” he explains. “Consumers no longer just think about coffee for breakfast; they think about it for a mid-afternoon snack or even as a dessert for dinner.”
This year, Miami-based Burger King refreshed its coffee platform with 10 new specialty blended coffee drinks featuring a new, 100-percent Latin American Arabica coffee bean custom blend brewed by Seattle-based Seattle’s Best Coffee, a wholly owned subsidiary of Starbucks Coffee Co. The new lineup includes Vanilla-, Mocha- and Caramel-flavored hot and iced coffees as well as Plain, Vanilla, Caramel and Mocha latte varieties.
For other indulgent options, Oak Brook, Ill.-based McDonald’s added a Dulche de Leche shake and a Blueberry Pomegranate smoothie to its McCafe menu for the summer. Inspired by a traditional Latin American dessert, the seasonal Dulche de Leche shake is made with McDonald’s Vanilla reduced-fat ice cream and caramel syrup and is topped with whipped cream and a cherry, the company says. The Blueberry Pomegranate smoothies, which start at 220 calories for a small size, are made with blueberries, raspberries, a splash of pomegranate juice and low-fat yogurt, it says.
Technomic’s Pawlak notes that specialty beverages, particularly smoothies, now are serving as snacks and meal substitutes, expanding these drinks’ usage occasions.
As beverages for meal accompaniments, Pawlak notes that iced tea and bottled water are performing well in the foodservice segment as consumers move away from carbonated soft drinks, which have stabilized in recent years. Iced tea is doing especially well because of the value it offers foodservice operators, he says. “It’s very, very high in margin for the foodservice operator, so they’re more likely to push that item because they’re making money on it,” he explains.
Although Pawlak says that most of the iced tea growth is in traditional varieties — whether sweetened or unsweetened — Sonic is adding some more flavorful options to the mix. This year, the Oklahoma City-based franchise launched a line of freshly brewed sweet and diet green iced teas available in numerous flavor options, including its five newest sugar-free flavor mix-ins: Peach, Mango, Raspberry, Blackberry and Mint. “Because we are all about choices, we didn’t launch just one or two iced tea varieties but launched sweet and diet green iced tea with five new sugar-free flavor mix-ins,” said James O’Reilly, Sonic’s chief marketing officer, in a statement. “These new flavors, combined with our thousands of other iced tea flavor options, make it fun to make healthy choices.”
Crafting the perfect foodservice experience
According to Chicago-based Mintel’s April 2013 report, “The Dining Out Experience — US,” in order to increase brand loyalty and the likelihood that consumers will return again, restaurants need to create the right ambiance in order to generate a positive and memorable dining experience. In its surveys, Mintel found that, in general, consumers reported that cleanliness, menu selection and variety, and comfortable seating as the most important factors when creating a good atmosphere in a restaurant. Beyond these factors, consumer preferences about the ideal restaurant experience vary by demographic, Mintel found.
Women vs. men: Women place a much higher importance on cleanliness, menu variety and comfortable seating than their male counterparts, which shows that women have higher expectations of restaurants, according to Mintel. In addition, women place more importance on the reputation of a restaurant, while men find it more important that the staff at a given restaurant treats them like a friend or a regular, it reports.
When it comes to dining, women prefer not to feel rushed in their experience, are interested in healthy menu options, are attracted to special pricing, and appreciate the option to customize their meals, Mintel reports. Men, on the other hand, are comfortable serving themselves, prefer to be in and out as quickly as possible, and appreciate larger portions.
Seniors vs. millennials: Mintel found that, as consumers age, they place a higher value on cleanliness, menu selection, not feeling rushed, and the restaurant’s reputation. In addition, consumers aged 65 years and older are concerned with the noise level and lighting of a venue, it says. The market research firm suggests that restaurants ensure that lighting is bright enough so that consumers can read the menus and that the noise levels are low enough so that patrons can hear and participate in conversation in order to appease this demographic group. In addition, because of seniors’ dietary needs, smaller appetites and restricted incomes, Mintel suggests that restaurants offer heart-healthy, low-sodium, and high-fiber options as well as smaller portions with lower prices to accommodate these needs.
Consumers in the 18- to 24-year-old demographic group, on the other hand, reported that they like to visit certain restaurants because they reflect who they are as a person, Mintel reports. These consumers appreciate both venue and food customization in being able to select the ambient music and order their food the way they like it, the market research firm says. In addition, consumers in the 25- to 34-year-old demographic group tend to be interested in children’s programs at restaurants, as consumers in this age group tend to be starting families and dining with small children, it adds.
Hispanics vs. non-Hispanics
According to Mintel, Hispanics are more likely than non-Hispanics to place importance on a restaurant’s dress code, décor, music, and children’s programs. “While the dress code must be broad to meet the tastes of a restaurant’s core consumer group, décor, music and children’s programs can be tailored to specific parties,” Mintel states. To accommodate this, restaurants can make use of available technology including projection screens, accent lighting and tabletop stereos to adjust the ambiance as needed, Mintel suggests. It also suggests that restaurants create children’s activity booklets in Spanish for this consumer group. In addition, Mintel found that Hispanics are more likely than non-Hispanics to agree that self-service options and communal seating create an enjoyable dining experience, and they are more likely to be attracted to specific restaurants that offer coupons and special pricing.
Report Abusive Comment


text:
5 beauty industry predictions for 2022
2021 was another year of upheaval - and innovation - for the beauty industry. Recovering from the sudden impact of coronavirus the previous year and continuing to contend with fluctuating social restrictions, beauty brands have had to think creatively about the way they engage with customers and respond to shifting consumer attitudes. Central to this has been the development of beauty tech and in 2021 this has continued to be an area of rapid and exciting growth, from e-sampling to at-home beauty tech. So, how will the beauty industry trends we’ve seen in 2021 evolve and grow in the coming year?
Here are our five beauty industry predictions for 2022.
1. Sustainability will become a core part of beauty
As the climate conversation gets louder - amplified by the pandemic, social media and world events like COP26 - brands can no longer afford to ignore sustainability if they want to win over increasingly concerned consumers.
The statistics bear this out: according to recent research from EY, 84% of consumers say sustainability is important when making purchase decisions. And a survey conducted last year by Deloitte found that 28% of UK consumers say they have stopped buying certain products due to ethical or environmental concerns, rising to 45% among Gen Z consumers.
We’ve already started to see the shift to sustainability within beauty - in 2020 Maybelline launched its UK-wide recycling scheme to help consumers responsibly dispose of old makeup - but in 2022 we expect to see sustainability become central to all aspects of beauty.
This won’t just mean more product recycling. From reducing packaging waste and eco-friendly packaging to responsibly sourced product ingredients and ethical testing, there are numerous ways beauty brands can make their businesses more sustainable, in addition to cutting down on waste and energy use in offices and factories.
But in their bid for sustainability, beauty brands should beware of greenwashing. Consumers are smart and they can spot when a company is only talking the talk. If a brand’s actions don’t match their words this can have the opposite effect and start to turn consumers against them.
Odore’s platform can help brands achieve their sustainability goals in 2022 as we offer our partners recyclable and sustainability packaging options as part of their product sampling campaigns. Our targeted product sampling features also help brands cut down on unnecessary waste by only giving customers the samples they want.
2. Social media and online engagement will continue to grow in importance
Social media marketing has for a while now been a staple of the beauty industry.
But as usage figures rise - last year global social media users exceeded 4.5 billion with users spending on average 2 hours 27 minutes per day on social media - so does the need for brands to engage with consumers in new and creative ways.
2021 demonstrated the power of social media in selling beauty products: Maybelline’s Sky High Mascara sold out in numerous locations after going viral on TikTok and Madison Beer’s Vogue Beauty Secrets YouTube video (currently standing at over 10 million views) caused a huge surge of interest in Charlotte Tilbury’s products.
In 2022 we should expect beauty brands to be investing more in social media marketing and using the power and reach of influencers to attract new customers.
And we should also be seeing the growth of livestream shopping - already popular in China but now beginning to more significantly enter other markets too. For instance, in December TikTok launched a two-day live shopping event for UK users on its platform, with exclusive offers and entertainment.
Odore helps brands manage their social media activities and launch sophisticated social campaigns with our easy-to-use campaign builder. It also centralises their data, eliminating information silos and helping teams work more effectively together.
3. New digital offerings like e-sampling and personalised experiences will gain more traction
With the boom in online shopping, precipitated by the pandemic, digital offerings have never been more important. And in 2022 we’re set to see the digital experiences and strategies that have emerged over the past few years gain more and more traction as brands look to woo online buyers.
Shade-matching online tools have become increasingly popular, with brands like Cult Beauty launching AI-powered foundation finding tech. Then there’s the growing adoption of AR makeup try-on tools - Fenty Beauty introduced its virtual try-on feature in August last year - to help consumers in their cosmetics decisions and eliminate the frustration of an ill-suited product.
And brands are also helping consumers make the best beauty decisions through personalised experiences. Online questionnaires can help match customers with the products best suited to their needs and when combined with consumer product sampling, can help brands win customers by overcoming new product reticence.
Smaller beauty brands may feel they lack the resources to take advantage of these new digital offerings but Odore’s platform means they don’t have to miss out. Our SaaS platform gives them the ability to personalise their marketing and launch targeted e-sampling campaigns with an affordable, scalable solution.
4. Brands will increasingly turn to big data for better customer relationships
Another area we predict big growth is big data.
Driven by the increasing desire for personalisation - research shows 71% of consumers now expect companies to deliver personalised interactions - the demand for data and analytics is only set to rise.
And with the third-party cookie phase-out and continuing concerns over data privacy and control, it’s going to be zero-party data and customer reviews that become more and more important to brands.
Such data will be vital in helping brands personalise their services, guide product development and hyper-target customers in skin care sampling and cosmetic sampling campaigns.
Again, this is something Odore makes easy for beauty brands. Our integrated campaign builder helps brands collect zero-party data by creating questionnaires that can be launched as targeted ads or campaigns.
5. We’ll watch the rise of delivery on demand and slicker delivery services
Takeaways and groceries delivered on demand have become a mainstay throughout the pandemic and are now woven into our lives: in the UK and Ireland, Deliveroo saw a 59% increase in orders between July and September 2021, despite dine-in restaurant restrictions being lifted.
But such delivery services have the potential to extend beyond food and into the beauty industry.
Indeed, last year Boots launched an on-demand delivery trial with Deliveroo, allowing customers to purchase makeup and toiletries, as well as baby products, snacks and some medicines and painkillers, through the app.
In 2022 we should expect to see the appetite for easy delivery become a key driver in brand’s business strategies - whether that’s through exploring partnerships with popular couriers, improving the speed and convenience of postage, or investing in tech that allows customers to get samples delivered straight to their door in a matter of clicks.
Beauty product sampling platforms like Odore are helping brands adjust to evolved consumer expectations and meet the demand for easy delivery. Our services make sampling smarter, faster and more reliable and we offer complete end-to-end fulfilment at competitive prices with options for customised packaging. This means samples get to customers quickly and safely, helping strengthen brand relationships.
Get the latest beauty industry insights from Odore. Sign up for our newsletter and follow us on social media:


text:
A new line of inquiry
- By William Matthews
- Jul 22, 2002
Type "rice" into a search engine and watch what happens. You get Rice University, rice recipes and Condoleezza, the national security adviser. Not very helpful if you are looking for statistics on rice imports and exports.
That's the problem with most search engines: They retrieve lots of information, but most of it isn't what you need, said Suresh Shenoy, executive vice president of Information Management Consultants Inc.
But new "guided navigation" technology takes searching to a new level of precision.
Where a typical search engine will retrieve all the documents it can find that contain the word "rice," a guided navigation search will retrieve "rice" documents, but also sort them into categories, perhaps dozens of them, including one for rice import and export statistics.
Shenoy said this capability could be just the breakthrough government agencies need to impose a degree of organization on their fast-expanding stores of information. And his company is selling the capability to government agencies in a product called the InfoRevelation Solution.
The solution is built around Guided Navigation, a search technology developed by Endeca Technologies Inc. Guided Navigation works on databases much like a menu works in a restaurant, said Steve Papa, Endeca's chief executive officer.
Menus arrange food in logical categories, making it easy for diners to make meal selections. But in addition to appetizers, entrees and desserts, Guided Navigation might also offer categories such as meals under $10 and low-calorie desserts.
In that way, Guided Navigation makes it possible to search quickly and easily without knowing exactly what you're looking for. "You're able to explore information along many dimensions," Shenoy said. "That's very different from a search engine, which is two-dimensional."
Guided Navigation has already found some commercial successes. It is used by Tower Records to arrange a half-million music and video titles for easy browsing by genre, format, price, music style, artist and other categories.
Picking a genre — say, country — leads to about a dozen subcategories such as bluegrass, cowboy or western swing. And each of those can be further refined by price, artist, release year and other categories.
Shenoy said IMC discovered Guided Navigation while looking for a way to search and compare vast quantities of genetic data. "We needed an easy way to categorize information," he said.
"We saw then that there were all kinds of requirements for it in government," where agencies maintain large and growing databases of unstructured data, he said. Important data is maintained in e-mail, videos, photos, voice mails and other formats. As long as there are data tags, Guided Navigation can find and categorize it, Papa said.
For many agencies, the difficulty finding information stems from having lots of it stored in different formats in separate databases. That's not a problem for Guided Navigation, said Dave Gourley, Endeca's chief technology officer.
The company simply writes "an adapter" for each database. The adapters are able to pull information from their particular databases, and Guided Navigation presents it in a format that is understandable to the user.
Guided Navigation received a positive evaluation in May from content management and retrieval experts Susan Feldman and Mary Flanagan, who are analysts at IDC. The Endeca search technology "is faster and less frustrating than plowing through thousands of randomly ordered search results" produced by a typical search engine, they wrote in a report last month.
And "Guided Navigation represents an evolutionary step in the usability and scalability of search and retrieval technologies," they wrote. Competing solutions are often technically complicated or cannot easily handle large databases.
Sorting through the muddle
Information Management Consultants Inc.'s InfoRevelation Solution is powered by Endeca Technologies Inc.'s Guided Navigation, which sorts information to make it easier to find what you're looking for.
For example, if an FBI agent were to look in the bureau's databases for information on a crime suspect named John Smith, Guided Navigation would search FBI databases, retrieve John Smith files and arrange them in useful categories: by state, ethnicity, criminal record and so on, said Steve Papa, Endeca's chief executive officer.
Instead of plowing through a long list of records, the agent would be able to focus quickly on the John Smiths that have been associated with, say, bank robberies in California.


text:
In the spring of 2002, the Council of Fashion Designers of America decided to honor The New York Times' Cathy Horyn with the prestigious Eugenia Sheppard Award at that year's CFDA Fashion Awards. The vote, however, wasn't embraced by the board. Far from it. By all accounts at the time—on and off the record—it triggered a boisterous meeting that became a major controversy, which many still say was one of the most memorable conflicts for the council. "That was a shocker," then-president of the CFDA Stan Herman recalls.
The incident underscores the CFDA's history of conflicts and quarrels that sometimes flared up throughout its half-century, which is really no surprise, considering the organization is populated—and fueled—by a group of highly creative, ultrapassionate members who tend to do things their own way. Not the shrinking-violet types.
As Peter Arnold, who served as executive director from 2001 to 2005, describes the overall culture: "You had a board composed of leading designers in the country: Ralph, Donna, Calvin, Tommy, Oscar, Kenneth. These guys are not accustomed to being in a room agreeing with one another and coming to a consensus. I came from a law firm; I was blissfully unaware. It was kind of a baptism by fire."
Take Oscar de la Renta, for instance, a former president himself who nonetheless found himself at odds with the CFDA.
From its earliest days, the CFDA was associated with the Metropolitan Museum of Art and, in 1967, staged an exhibition there called "The Art of Fashion." And in the late Eighties, during de la Renta's second term as president and through Carolyne Roehm's stint from 1989 to 1991, the awards were held at the Met. "I thought there was a natural link to the Metropolitan Museum," de la Renta says. "They have the biggest archive and are the most viable Costume Institute in the country. Then, the CFDA decided to break the relationship to the museum, which I thought was unbelievably wrong."
It wasn't the only time de la Renta was angry with the CFDA. "I left the CFDA for a while," the designer recalls. "I don't remember what the reason was —we always got angry about something—but I do remember I got out, and then I came back."
According to reports in WWD, after the 1999 fashion awards gala was widely panned for its six-and-a-half-hour duration and slipshod production, both de la Renta and Calvin Klein resigned from the CFDA board, de la Renta leaving the organization altogether. "I am really discontented with the way the awards have been handled," he told WWD at the time. "People whom I trust have told me they have lost the sense of style and seriousness. Fashion deals with style, not with bad taste."
Both he and Klein rejoined in 2001.
Marc Jacobs, too, had his rocky moments with the organization. In 2007, Jacobs' two-hour show delay backfired and Jacobs reasoned that it was because the New York shows had been pushed two weeks earlier in the collections season. "When we complain about the show schedule, our voice is not heard, nobody does anything about it, the CFDA does me absolutely no service whatsoever as an American fashion designer," he said at the time.
The wounds have since healed—Jacobs now sits on the CFDA board and was honored with its Geoffrey Beene Lifetime Achievement Award in 2011. He has also won the Designer of the Year awards in Womenswear, Menswear and Accessories, took home the International Award in 2009 for Louis Vuitton and captured the Perry Ellis Award.
Over the years, there were also plenty of gripes from companies whose labels didn't carry as much weight as Donna Karan, Calvin Klein and Ralph Lauren.
"They rotate the CFDA Awards among the same three designers," Nicole Miller president and chief executive officer Bud Konheim told WWD in 1996.
This—like much else at the CFDA— has changed considerably since, particularly with the rise of a new generation of New York designers and the advent of the CFDA/Vogue Fashion Fund in 2004.
"I think the CFDA today is an unbelievably different institution than what it originally was," de la Renta says. "Diane von Furstenberg has been an extraordinary president. She brought a great vitality into the organization. We have a voice today. She is probably, in my book, the best president the CFDA has ever had. Far better than myself."
In honor the @CFDA’s announcement of @iamnaomicampbell receiving the Fashion Icon Award at the 2018 #CFDAAwards, which will take place on June 4, here’s a #tbt of the supermodel on @michaelkors’ runway in 1991. #wwdfashion #wwdarchive (📷: George Chinsee)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.


text:
Two historic Noble Street buildings sold at auction in December might help attract further business to Anniston if their new owner fills the spaces, according to a Main Street Anniston representative.
Reilly Johnson, director of the organization, said that filling in the Caldwell Building and Watermark Tower — located across the street from each other at the intersection of Noble and 10th streets — with new business might help the city’s downtown district grow, even if the new businesses aren’t boutiques or restaurants.
“It does a lot for people to see the buildings being taken care of,” Johnson said by phone Wednesday. “It’s kind of a domino effect. It makes it more apparent there’s activity and there’s life and vibrancy, and I think that’s contagious.”
Johnson said she had yet to speak to the new owner of the properties.
Both buildings were purchased by a client of Eric Grabois, the Florida-based attorney confirmed Wednesday. He declined to identify his client, citing attorney-client confidentiality.
According to deeds obtained at the county probate office, the Caldwell Building was purchased by Jaffo LLC for $305,250, and Watermark Tower was purchased by Sea Palace LLC for $330,000.
Both companies list the same primary address in Doral, Fla. That address is the site of a Premium Credit Bureau location. The firm lists credit reports and employment screenings among its services. The company’s president, Moshe Zuchaer, appears as an authorized representative for both companies on the State Department of Florida’s business search website.
Attempts to reach Zuchaer by phone Wednesday were unsuccessful.
Both buildings sold for less than their appraised values, according to auction documents. County tax records have the 11-story Watermark Tower, constructed in 1927, sold to its last buyer in 2010 for $1.16 million. The Caldwell Building, built in 1889, was appraised by the county for the 2019 fiscal year at a value of $417,280 for the land and building.
At the time of the sale, City Manager Jay Johnson said the low sale prices might be a benefit to the city, with the new owner potentially using saved money to improve the property, though he noted that was speculation.
Reilly Johnson said any new businesses at the two buildings would be among a few others to arrive on Noble Street in recent months. Widenet Consulting, a web development firm previously based in Oxford, moved into the former site of the Rabbit Hutch shop this year, she said, and quick-lunch stop Bistro 1307 opened late last year. The restaurant’s owners only used half of the space at their address to build the bistro, she said, and plan to open a separate, full-service restaurant using the remaining space.
She said other properties are up for sale on Noble Street, including the former Griffin’s Jewelry location, and the building at 1201 Noble.
Those properties are promoted through advertising and social media, she said, but big events like the Noble Street Festival and Neewollah also help introduce potential buyers to downtown Anniston.
“It reintroduces people to the area and it changes their perceptions of what downtown can be,” she said.


text:
eBay Inc. (EBAY): Price and Financial Metrics
GET POWR RATINGS... FREE!
EBAY POWR Grades
- EBAY scores best on the Quality dimension, with a Quality rank ahead of 93.53% of US stocks.
- EBAY's strongest trending metric is Stability; it's been moving up over the last 26 weeks.
- EBAY's current lowest rank is in the Stability metric (where it is better than 34.84% of US stocks).
EBAY Stock Summary
- EBAY INC's market capitalization of $23,524,271,421 is ahead of 90.96% of US-listed equities.
- EBAY's current price/earnings ratio is 840.15, which is higher than 99.51% of US stocks with positive earnings.
- EBAY INC's shareholder yield -- a measure of how much capital is returned to stockholders via dividends and buybacks -- is 32.55%, greater than the shareholder yield of 95.29% of stocks in our set.
- Stocks with similar financial metrics, market capitalization, and price volatility to EBAY INC are MRCY, CARS, HP, LWAY, and NOV.
- EBAY's SEC filings can be seen here. And to visit EBAY INC's official web site, go to www.ebayinc.com.
EBAY Valuation Summary
- In comparison to the median Technology stock, EBAY's EV/EBIT ratio is 318.13% lower, now standing at -40.9.
- EBAY's EV/EBIT ratio has moved down 106.1 over the prior 243 months.
Below are key valuation metrics over time for EBAY.
EBAY Growth Metrics
- Its 5 year net cashflow from operations growth rate is now at 11.68%.
- The 5 year cash and equivalents growth rate now stands at -51.54%.
- The 2 year revenue growth rate now stands at -2.53%.
The table below shows EBAY's growth in key financial areas (numbers in millions of US dollars).
|Date||Revenue||Operating Cash Flow||Net Income to Common Stock|
EBAY's Quality FactorsThe “Quality” component of the POWR Ratings focuses on 31 different factors of a companies fundamentals and operational strength. Here are some key insights as we drill into the specifics of these quality attributes.
- EBAY has a Quality Grade of A, ranking ahead of 96.64% of graded US stocks.
- EBAY's asset turnover comes in at 0.446 -- ranking 346th of 561 Business Services stocks.
- CTXS, HSII, and TWTR are the stocks whose asset turnover ratios are most correlated with EBAY.
The table below shows EBAY's key quality metrics over time.
|Period||Asset Turnover||Gross Margin||ROIC|
EBAY Stock Price Chart Interactive Chart >
EBAY Price/Volume Stats
|Current price||$43.88||52-week high||$67.69|
|Prev. close||$43.16||52-week low||$35.92|
|Day high||$44.16||Avg. volume||6,529,256|
|50-day MA||$41.17||Dividend yield||2.01%|
|200-day MA||$46.48||Market Cap||23.81B|
eBay Inc. (EBAY) Company Bio
eBay Inc. (/ˈiːbeɪ/ EE-bay) is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019. The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and an additional or separate fee when those items are sold. (Source:Wikipedia)
Most Popular Stories View All
EBAY Latest News Stream
|Loading, please wait...|
EBAY Latest Social Stream
View Full EBAY Social Stream
Latest EBAY News From Around the Web
Below are the latest news stories about EBAY INC that investors may wish to consider to help them evaluate EBAY as an investment opportunity.
eBay has announced a new partnership with clothing resale, sanitisation and repair experts ACS to expand the online marketplace’s second hand offering and help reduce waste in the fashion industry.
Groupon (GRPN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Independent contractors who made money via online services will have their income reported to the Internal Revenue Service (IRS) starting in 2023, the agency said in a second warning issued Tuesday. People who made money via eBay, Etsy, Poshmark, Uber, and other digital services will face the new scrutiny and rules. It applies to anyone who […]
Ebay has announced a partnership with clothing resale, sanitisation and repair experts ACS to expand its second hand offering amid the rising cost of living crisis and textile waste problem. The post eBay, ACS partner on circularity in bid to push preloved appeared first on Just Style .
eBay has announced a new partnership with clothing resale, sanitisation and repair company ACS to expand the online marketplace’s second-hand offering and help reduce waste in the fashion industry. Almost nine in 10 (87%) UK adults surveyed said they have bought an item second-hand in the past twelve months, while more than six in 10 […] The post eBay partners with circular fashion company ACS appeared first on Circular Online .
EBAY Price Returns
|Ex-Dividend Date||Type||Payout Amount||Change|
|Loading, please wait...|


text:
The proposed 20 sen increase in beverage prices by the Kuala Lumpur & Selangor Coffee Shop Association in 2011 debunks the Prime Minister's claim that the Government's cut in subsidies will have “minimal impact” on households in Malaysia
In July, the Government launched a surprise “5-in-1” price hike programme, raising the prices of RON95 and RON97 petrol, diesel, white sugar and liquified petroluem gas (LPG) including cooking gas cyclinders by at least 2.8% and as much as 15.2%.
Then on 3 December 2010, less than 5 months later, another series of hikes is announced - the price of RON95 will increase by five sen to RM1.90 per litre, diesel by five sen per litre to RM1.80 and liquefied petroleum gas (LPG) by five sen to RM1.90 per kg. Sugar will also cost 20 sen more at RM2.10 per kg.
In fact for white sugar prices, inclusive of a 20 sen hike in January on top of the 25 sen and 20 sen hike in July and December, prices have increased by more than 55% this year alone.
The Prime Minister, Datuk Seri Najib Abdul Razak had in July claimed that the price increases will have “minimal impact” on households in Malaysia. This is further reiterated by the Minister in Prime Minister's Department and CEO of Pemandu, Datuk Seri Idris Jala more recently on 4 December via its Subsidy Rationalisation Factsheet that the 2nd round of price hikes “will result in minimal impact to consumers”.
In July, Pemandu “demonstrated” that the new teh tarik price taking into the impact of subsidy reduction of fuel and upward price adjustment would be around RM1.0155, or an increase of less than 2 sen in full page advertisements across all major mainstream newspapers.
After the December hikes, the new Subsidy Rationalisation Factsheet rationalised that a glass of “teh tarik” and “kopi susu” costing RM1.20 is expected to increase in price by 0.8 sen and hence will not cost more than RM1.21 or a tiny 0.83% hike in prices. (The fact sheet actually says 0.6% increase for “teh tarik” and 0.5% for “kopi susu” – somebody in Pemandu failed their mathematics).
Firstly, there is a clear contradiction in “teh tarik” prices between the fact sheet issued in July which was only RM1.00 as compared to the new base price of RM1.20 in the December fact sheet. The 20% “mysterious” 20% increase in the base price between July and December remains unexplained.
Secondly, and more importantly, Barisan Nasional and Pemandu lives in a parallel imaginary universe of price hikes involving increases of 1.55 sen or even 1 sen. I had issued a statement in July arguing that Pemandu should be “commended” for the audacity to publish such numbers which are at best applicable only in a fictitious and theoretical universe, and at worse, showing the complete lack of understanding of real world market dynamics on the price of goods and services.
And to prove my point, it was reported yesterday in all major Chinese newspapers that the Kuala Lumpur & Selangor Coffee Shop Association has announced the proposal to increase all beverage prices by 20 sen starting 1st January 2011. “Kopi susu” and “teh susu” prices will be increased from RM1.20 to RM1.40 translating to a massive 16.7% increase in prices!
Even the price of everyone's coffee shop favourite “herbal tea” will be increased from RM1.10 to RM1.30 or a hike of more than 18%. And Pemandu had the audacity to claim that “herbal tea” prices will only increase from RM1.00 to RM1.012 or just a 1.2% increase!
In fact, out of the 70 everyday food and drink items listed on the Subsidy Rationalisation fact sheet, no item is expected to increase by more than 1.9% after the most recent round of price hikes!
The Star has also reported on 20th December that evaporated milk and sweetened creamer is also expected to increase by 30 sen next year, after a 5 sen and 10 sen increase in April and October this year, marking an overall increase of up to 20% within a year.
What is perhaps most embarrassing is for the Domestic Trade, Cooperatives and Consumerism Deputy Minister, Datuk Tan Lian Hoe to argue that a 10 sen increase in beverage prices “will be more reasonable”. A 10 sen increase will still result in a 8.3% increase for the price of “teh tarik” and “kopi susu”, 10 times higher than the 0.83% increase claimed by Pemandu. If the BN government even believes in its own policies, Datuk Tan Lian Hoe should openly insist that only a 1 sen increase is justifiable.
The government should instead stop spewing these ridiculous and out-of-these-world hypothetical data which demonstrate at best its sheer incompetence and irrelevance, or worst, its blatant attempts at misleading the rakyat with preposterous falsehoods in order to justify the continued price increases. We are disappointed that the BN government has prioritise its “subsidy rationalisation” efforts on items which will worsen the living conditions for the man-on-the-street, but has not lifted a finger to “rationalise” the more substantial RM8 – 10 billion of subsidies given to independent power producers who are already making billions of ringgit in profits annually despite repeated promises to do so.
The above makes a complete mockery of the Prime Minister's slogan of “people first”, for it demonstrates that the people's interest don't come first under the BN government, but instead the people's subsidies get cut first.