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Last November, Howard Schultz traveled to Buffalo, NY, with a message to workers considering forming a union: Starbucks SBUX 2.21%
would do the best job looking out for employees’ interests.
During an hourlong speech delivered without notes, Mr. Schultz, Starbucks Corp.’s former leader, appealed to employees to work together with management. “Our core purpose and reason for being is to build the kind of company that creates a fragile balance between profit and doing the right thing,” he said.
Many baristas in Buffalo didn’t stand with Mr. Schultz; they voted to unionize instead. They have said they believe organizing is needed to push for better pay, adequate staffing and a louder voice in company affairs.
Now Mr. Schultz, 68 years old, will need to please shareholders while also trying to win over Starbucks employees—and those the chain still aims to hire. In April, Mr. Schultz will return for his third stint running Starbucks, taking on an interim chief executive role after the chain this week said current CEO Kevin Johnson would retire after five years atop the company. Part of Mr. Schultz’s focus, he told employees this week, is establishing a new tone with the roughly 230,000 workers staffing its US cafes.
“We have to take a hard look at how we are doing as a company, and as a community of partners,” Mr. Schultz wrote in a message to Starbucks workers Wednesday. “These are the questions on my mind as we renew a journey to see beyond what Starbucks has been and what it is today to what it will become.”
Across the US, restaurant operators are struggling to recruit and retain enough staff to fully staff locations, and quit rates among hospitality workers hit record highs last year, federal data showed. Starbucks, the world’s biggest coffee chain in terms of sales, had to reduce hours and limit services earlier this year at some locations that were short-handed because of continuing worker shortages and rising Covid-19 cases.
Thinly staffed stores have left some baristas feeling overwhelmed, workers have said, while customers continue to order highly customized, labor-intensive drinks.
Starbucks needs more workers to meet its growth goals. The company this week said that it aims to open more than 20,000 cafes globally by the end of the decade. It also needs to improve investor sentiment toward the stock. Starbucks stock, which has trailed other restaurant company shares in recent months, climbed roughly 8% since Mr. Schultz’s return was announced Wednesday.
After buying out the local Starbucks coffee outpost in 1987, Mr. Schultz molded Starbucks’s image and customer experience, developing its cafes as a place to linger over espressos and lattes. He also helped design the company’s offerings for its baristas and other workers, offering benefits that Mr. Schultz said went beyond most retailers—covering the cost of employee healthcare, time off and benefits for those working at least 20 hours a week at the chain. A year before the company went public in 1992, Starbucks started giving baristas stock, a practice the company has continued.
“I was convinced that under my leadership, employees would come to realize that I would listen to their concerns,” Mr. Schultz wrote in “Pour Your Heart into It,” his book about building Starbucks into a global coffee company. “If they had faith in me and my motives, they wouldn’t need a union.”
During his earlier stretches leading Starbucks, Mr. Schultz often held town hall-style forums to speak with workers and sometimes directly reached out to employees. In 2016, after a California barista named Jaime Prater wrote an online petition about working conditions at Starbucks that drew nearly 25,000 signatures, Mr. Schultz called the employee. The CEO later bumped up pay, and company stock issued to many US cafe workers.
Mr. Prater recalled feeling thrilled when Mr. Schultz called him, feeling like his voice mattered. He said he appreciated the additional benefits, but said the overall working environment at his cafe didn’t improve.
“It was the most demanding and hardest job I’ve ever worked,” said Mr. Prater, who left Starbucks in 2018 and now works as a marketing manager.
The company is now dealing with the most concerted unionization campaign in its history. Pro-union workers have said unionizing will help deliver better pay and working conditions, and representation among Starbucks’s decisionmakers. Starbucks has said it respects the unionization process, but wants to maintain its direct relationship with workers and has advised them against organizing.
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Since the union drive began at Buffalo-area cafes last year, around 140 US Starbucks cafes have petitioned to hold votes on whether their workers should be represented by Starbucks Workers United, formed in the run-up to the Buffalo cafes’ votes in late 2021 Next week, the National Labor Relations Board is slated to count ballots in the first union drive in Mr. Schultz’s primary home of Seattle. Starbucks has petitioned for the federal labor agency to review that vote’s structure, as it has in other elections. So far the company’s appeals haven’t succeeded.
Mr. Schultz and the company’s next permanent CEO, whom Mr. Schultz will help select, must respond to the union push and workers’ concerns in credible ways, said Starbucks board Chairwoman Mellody Hobson. The company also needs to hold itself accountable when it gets something wrong, Ms. Hobson said in an interview.
“I feel very strongly that our partners were speaking to us, and I don’t think we were hearing that,” said Ms. Hobson, referring to the company’s baristas.
Taylor Shaw, a shift supervisor at a Buffalo Starbucks that recently voted to unionize, said she hopes Mr. Schultz’s return will lead to a greater focus on workers.
“It’s been, ‘What are your drive [through] times? What are your sales?’ Obviously that’s important when you’re running a business, but it just seems like Howard was more concerned about the personal connection that Starbucks talks about,” Ms. Shaw said.
Mr. Schultz is inviting worker feedback. He signed his Wednesday email to employees asking them to email him at his Starbucks address.
—Stephen Council contributed to this article.
Change Brewing at Starbucks
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CAIRO: Bolstered by cash from tourists and foreign investors, Egypt s balance of payments – an accounting yardstick that tracks the flow of a country s global transactions – edged up by about $100 million to post a surplus of $5.4 billion last fiscal year, the Central Bank of Egypt announced this weekend.
Egypt s current account, which is largely determined by trade balance, registered a surplus of $0.9 billion, down from $2.7 billion last year.
Simon Kitchen, an economist with the investment bank EFG-Hermes, said he expects the current account will slide into a deficit next year as Egyptians buy more from abroad and sell less in sluggish European markets. Slipping oil prices could also cheapen Egypt s energy exports, even if their volume remains roughly the same, he said.
While Egyptian merchandise exports grew by $14.1 billion last year, imports outpaced them, rising by $15 billion to $52.8 billion, driving the merchandise trade deficit to $23.4 billion.
Many quickly-developing economies run current account deficits as they borrow from overseas to finance their expansion, Kitchen said. Investors generally expect these ventures to pay off over the following years.
The vulnerability for Egypt is the European slowdown, Kitchen said.
A slowdown in Europe could hamper revenues from tourism and the Suez Canal – two of the biggest catalysts of growth here. And while investors from the Gulf should stay relatively flush, about a third of foreign cash comes from the United States and another third from Europe, Kitchen said, meaning recessions in either region could lessen the overall amount of foreign direct investment (FDI) here.
Skittishness over incidents like the Agrium factory dispute could also deter some investment, he said.
But for the near future, Kitchen said he expects FDI to stay robust, hovering around $10 billion per year and keeping the overall balance of payments in surplus.
According to the Central Bank, FDI in Egypt jumped to $13.2 billion from $11.1 billion this year, suggesting much of the country s record expansion is rooted there.
Just under half of this investment went to new projects, around a third to energy sector projects, $400 million into the real estate sector, and about $2.3 billion came from foreigners buying local companies.
The Central Bank also confirmed that Egypt s economy grew 7.2 percent last year, with the ration of investment to gross domestic product up by 22 percent.

domain: news


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A seafood restaurant in Cardiff has closed its doors just six months after opening – but bosses say they hope it can reopen.
Seafood Shack opened in the former Crane’s music store in High Street in June.
It had a combination of a restaurant area and a fish bar as well as drinks bar.
But it closed suddenly just after Christmas, on December 29, despite bookings being taken across the new year period.
In an online statement registered company director Darryl Kavanagh said that closure was due to a “cyber attack”.
He said that it had meant bookings were cancelled without their knowledge which impacted trade.
Mr Kavanagh said it had resulted in a loss of between £70,000 and £100,000 between November and December.
“This attack has been reported to the authorities and is now under investigation. As you can imagine, we are completely crushed – it is hard enough to build a brand from scratch without being attacked.
“We do have so many messages coming in and we are doing our best to respond to each and every one, we would really appreciate your patience and again, we really do apologise for any inconvenience.
“This is a very hard time for us all in Seafood Shack.”
Speaking to WalesOnline Mr Kavanagh said the closure was “a tragedy”.
He said: “We have all been very busy on the weekends but towards the end of November we noticed that we had a lot of trade in the day but were getting no evening party bookings. We felt that something was wrong.
“We use an online booking system so I asked my daughter, who works in IT, to take a look at it. She called me and said: ‘Oh my god Dad, 265 bookings have been deleted out of the system – that’s why you haven’t got them’.
“She then called back again to tell me that she was watching somebody deleting bookings in front of her eyes on the screen.
“It has had an absolutely nuclear effect on the business worth between £70,000 and £100,000 between November and December.
“This is so serious – our business is in its infancy and this is its critical first year.
“We are at our most vulnerable and this has left us in a really bad financial situation. It’s a tragedy.”
Mr Kavanagh has reported the incident to Action Fraud, the national reporting centre for fraud and cyber crime.
An acknowledgement letter says Action Fraud will assess the evidence provided and see if there is a case to answer.
Mr Kavanagh, 50, to Cardiff from Ireland after the problems came to light.
In a separate development Mr Kavanagh said there had also been an issue with the venue’s alcohol licence.
Legally there has to be a designated premises supervisor (DPS) for any licensed premises.
Mr Kavanagh said there was no suitable person to take over as DPS – something he is hoping to rectify in order for the venue to be able to sell alcohol when it reopens.


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The Hispanic population is fastest-growing segment in America, and according to the latest numbers from last year’s Census, there are more than 50 million — 1 out of every 6 people — in this country. That’s an increase of 43% over the past ten years. Compare that to non-Hispanics, who grew only 5%, and it’s clear just how dramatic this cultural shift is.
50 million: That’s a number that should grab the attention of any supermarket executive. To their credit, they’ve made sure to adjust their marketing and product mix over the years to accommodate this influx in their markets.
But health and nutrition guidance is where things start to get tricky. According to the Centers for Disease Control, one out of every ten Hispanics has diabetes, and one out of every three is obese. Those are higher percentages than non-Hispanics, and indicative of a serious problem that needs to be addressed. As a supermarket, how do you advise these consumers? It’s one thing to translate signage and stock the food they enjoy to eat — but how do you tell them what not to eat?
Retailers in the south and west, who have catered to Hispanic consumers for decades, might be worth emulating. H-E-B, which is based in San Antonio, targets Hispanic mothers, who are the gatekeepers for what gets eaten in most households. Nutrition advisors there hold bilingual cooking classes and community fairs that teach moms healthy versions of traditional dishes, like lard-less beans and low-fat tamales. H-E-B also hosts a healthy living expo each year, with separate educational sessions for kids, moms and the men of the family.
At Bashas’, a yearly tamale festival held in Phoenix provides an opportunity to get the word out about good nutrition, diabetes testing and other healthy habits. When I spoke with store dietician Barbarah Ruhs, she said she’s also trying to build off Hispanic consumers’ love of fresh produce to introduce more fruits and vegetables into many protein and carb-heavy meals.
At the same time, it’s a problem retailers can’t over think. I’m reminded of a conversation I had recently with Georgia Orcutt of Oldways Preservation Trust.
“Everybody coming through the door is looking for the same thing. They’re looking for bargains, they’re looking for good prices and good information. If the retailers can find ways to educate all shoppers, I think they’re doing a good job.”


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According to a notable leaker, Epic Games is working on bringing a first-person mode to Fortnite, and players are more than ready.
At the start of Fortnite Chapter 3 Season 2, Epic Games pulled the biggest stunt in the game’s history. They removed the ability to build structures.
This limited-time event would later become a permanent game mode bringing former Fortnite enthusiasts back to the cartoon battle royale. And even after an entire season of No Build mode, players like Ninja and Tfue routinely play the game on stream.
However, it seems Epic Games may be working on another new mode that will once again shake up Fortnite.
Fortnite adding first-person mode
According to HYPEX, a notable Fortnite leaker, Epic Game is working on a first-person camera mode. They began working on the mode at the start of Fortnite Season 3, and it’s seemingly still in early development.
The mode would force loopers to play from the perspective of their character. This would make looking around corners and obstacles a lot harder since the player would have a much smaller field of view.
Think Apex Legends or Call of Duty but set in a cartoon environment. HYPEX noted that a first-person camera would work really well in the Zero Build modes.
FIRST PERSON CAMERA IN FORTNITE 🔥
This update Epic began working on some stuff about first person camera mode but there's no other info about it at the moment as it looks like it's still in early development. Would work REALLY well for the Zero Build Modes 👀 pic.twitter.com/PIRRmdLyp0
— HYPEX (@HYPEX) June 7, 2022
There’s no other information available for the mode, so it’s unlikely for it to be implemented this season. That being said, the replies to HYPEX’s tweet are filled with players excited about the possibility of this new mode.
For more Fortnite news, check out our hub to see all the latest regarding Chapter 3 Season 3.


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A Murrysville man was arrested for allegedly selling prescription pain pills out of the drive-thru window of his Monroeville business.
Monroeville police say officers from their department and federal DEA agents observed Brian Schlagel, 45, owner of Philly Pretzel Factory on William Penn Highway, buy and sell pills out of his business and home over the course of several months.
Schlagel was taken into custody Thursday in the Spitzer Toyota of Monroeville parking lot, where police say he purchased 240 pain pills for approximately $14,000.
He is facing charges including possession with intent to deliver and tampering with evidence.
The Philly Pretzel Factory location in Ross Township said on social media they are not affiliated with the Monroeville store, nor are the Bridgeville and Cranberry locations.
On Nov. 21, the Philly Pretzel corporate office sent us the following statement:
“As a result of the alleged illegal behavior and arrest of one of our franchisees, Philly Pretzel Factory is terminating its franchise relationship with Mr. Schlagel.
His alleged acts are in direct violation of our franchise agreement. Mr. Schlagel independently owns and operates the Monroeville location, and his franchise rights to own and operate any Philly Pretzel Factory stores have been terminated. A transition plan for the ownership and operations of this location is currently in process.
Please know we do not condone this type of behavior and pride ourselves on providing a safe environment for all our customers and team members.
We remain shocked by this individual’s alleged behavior, stand by our zero-tolerance policy, and want to extend our deepest apologies to everyone impacted. We are fully cooperating with the local police department to assist in any way possible as they investigate this matter.”
©2022 Cox Media Group


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(Wednesday Afternoon April 16, 2014) We’ll see plenty of sun this afternoon, but it will be cold, with temperatures only rising into the upper 30s. It will be clear and cold tonight, with moderating temperatures Thursday.
A Camillus man is facing multiple charges after police say he sold items he stole from Walmart stores throughout New York and Pennsylvania.
It's a free, unsolicited discount prescription card that you get in the mail and it claims it can save you money. NewsChannel 9 viewer Nanette from Mexico wants to know The Real Deal about the cards.
The American Idol Live tour will be making a stop in Central New York this summer.
Wegmans is recalling subs and wraps containing turkey and sold individually or in party trays on Tuesday, April 15, at Wegmans’ Onondaga Boulevard Sub Shop only.
Village tax payers in East Syracuse will let their voices be heard today on the future of the police department.
Cicero Police are “On The Lookout” for a thief who is sneaking into garages in the neighborhoods off Lakeshore Road, including Lombardi Drive and Wedgefield Lane.
At least four people are dead and 292 are unaccounted for after a ferry started to sink off the coast of South Korea.
Two people were taken to a local hospital - including one who is in critical condition - after a crash on I-690 East on Tuesday afternoon.


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August 7th, 2008Brothers buy franchise that buys back phones
Two brothers, Randall and Mick Murry, have opened a Buy Back Cellular franchise in Lufkin Mall, according to a press release.
Buy Back Cellular buys and sells pre-owned cellular phones, regardless of the carrier behind them. It also deals in pre-paid cell phones.
“Buy Back Cellular makes it possible for people to upgrade their phone as often as they want, even every month if they feel like it, without having to worry about extending a contract or making any kind of new commitment to their carrier,” Randall said in the press release. “They bring in their old phone, pick out the new model they want, we swap out the SIM card, and they’re on their way. It’s a beautiful business concept.”
The Murrys said they expect advertising and marketing costs to be low, with most promotion coming from word-of-mouth among consumers.
“There is a strong viral marketing aspect to this concept,” Randall says. “We believe people will drive a couple of hundred miles to buy these phones when they hear about the kind of deals we’re offering.”
The brothers said theirs would be the company’s first franchise, which causes a bit of anxiety.
“The unknown is always scary,” Randall said. “It sounds like a great concept, but we had to wonder how long it would take before it really took off.”
Neither brother, however, plans to leave his current profession just yet. Randall holds a management position in the local office of a national corporation, while Mick is a poultry farmer, according to their press release.
“We were investing our own money to take this chance, but we weren’t selling the farm, so to speak — and in Mick’s case, literally,” Randall said.
Read complete article.
Looking for more information on wholesalers and products? Check out our directory of useful links.
- Toy Seven
- Joseph K.
- Basit Global Inc. dba Art and More
- Corioliss USA Inc
View the full directory


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The public beta program of iOS 16.5 has been underway since March, begin only a few days after the launch of iOS 16.4. The latest version of iOS 16 -- that's iOS 16.5 beta 4 -- brings only a handful of new features to the OS, since Apple is likely saving the good stuff for iOS 17 and WWDC 2023.
With the release of the developer beta, new features in iOS 16.5 that will make sports fans very happy have been revealed. We're going to give you a rundown of everything you need to know for when iOS 16.5 officially releases in the next few months.
iOS 16.5 beta timeline
May 3: beta 4 of iOS 16.5 was released.
While not a huge change, iOS 16.5 does include a new wallpaper section for LGBTQ+ wallpapers under the Pride banner. There are no new wallpapers as such, but the previous Pride wallpaper is present and correct. Now it's just under a new heading which suggests that there are more wallpapers en route.
April 26: Beta 3 of iOS 16.5 was released. No major changes announced or detected.
April 12: Public beta version 2 of iOS 16.5 was released, two weeks after the first public betas.
March 28: First public beta of iOS 16.5 was released.
New Features in iOS 16.5
Sports Tab in Apple News app
New Sports tab in News app. "Get news, scores, and highlights for your favorite teams and leagues." pic.twitter.com/p4Vfq3lBgTMarch 29, 2023
Apple has been making strides in the sporting world recently, including the return of MLB in April. With iOS 16.5, My Sports in the News app will get even better with the much-requested move of the Sports Tab to the bottom of the application.
The Sports Tab now sits right in the middle of the News app giving sports fans a quick way to access their sports news and results without having to scroll through the Today feed.
This change comes as Apple looks to build its stature in the sporting world with the increase of sports in Apple TV, including MLS Season Pass.
Quad picture-in-picture for Apple TV sports
The iOS 16.5 developer code also hints at a new quad picture-in-picture mode for Apple TV that will allow viewers to watch multiple sports streams at once. Hopefully, this means that you don't have to choose between MLS or Friday Night Baseball if both are on at the same time.
First spotted by Steve Moser, the iOS 16.5 beta 1 code shows a "multi-view" grid with the option to add up to four streams simultaneously.
Screen recording via Siri
Now users who want to voice activate screen recording on iPhone can do so with Siri in iOS 16.5. Just say, "Hey Siri, start screen recording," and your smart assistant will activate screen recording on your iPhone.
More to come
More bug fixes and features will be revealed as more information and betas release in the build-up to the official release of iOS 16.5 later this year.
How to install iOS 16.5 beta
For iPhone users who want to try out iOS 16.5 before its official release, you'll have to wait a while longer before you can download and install the iOS 16.5 public beta. When the public beta does release, here's how to install it.
Note: The iOS 16.5 beta isn’t intended to be installed on your primary device as there are likely to be performance issues and bugs.
- Make a backup of your iPhone
- Open Settings
- Tap General
- Tap Software Update
- Tap Download and Install on the iOS 16.5 update
Master your iPhone in minutes
iMore offers spot-on advice and guidance from our team of experts, with decades of Apple device experience to lean on. Learn more with iMore!
John-Anthony Disotto is the How To Editor of iMore, ensuring you can get the most from your Apple products and helping fix things when your technology isn’t behaving itself.
Living in Scotland, where he worked for Apple as a technician focused on iOS and iPhone repairs at the Genius Bar, John-Anthony has used the Apple ecosystem for over a decade and prides himself in his ability to complete his Apple Watch activity rings.
John-Anthony has previously worked in editorial for collectable TCG websites and graduated from The University of Strathclyde where he won the Scottish Student Journalism Award for Website of the Year as Editor-in-Chief of his university paper. He is also an avid film geek, having previously written film reviews and received the Edinburgh International Film Festival Student Critics award in 2019.
John-Anthony also loves to tinker with other non-Apple technology and enjoys playing around with game emulation and Linux on his Steam Deck.
In his spare time, John-Anthony can be found watching any sport under the sun from football to darts, taking the term “Lego house” far too literally as he runs out of space to display any more plastic bricks, or chilling on the couch with his French Bulldog, Kermit.


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Consumer credit growth may not sustain
The bankruptcy of General Motors, the world���s largest industrial enterprise till recently, will go down in public memory as one of the most prominent news event in many years to come. Equally news worthy but less talked about has been this sudden collapse of the US car market.
In a matter of weeks following the demise of Lehman Brothers in September 2008, the US car market tanked by nearly half. For most automakers, especially those based in the US, it was as if the clock was set back by 20 years. The apparent reason for the sharp collapse in one of the most visible indicator of prosperity was the drying-up of the credit market.
A similar trend was visible in other developed markets and most emerging markets, but the contraction in the United States was most ferocious. Initially, the Indian automakers also faced a sharp fall in the immediate aftermath of the crisis . However, the Indian auto market has recovered since.
So how did this happen? The drying credit market explanation is too simplistic to account for such a massive shift in one of the key industries of modern era. Even if we buy that argument, it does not explain the car makers��� dependence on credit in the first place. With the car being a consumer item, shouldn���t consumer wallet size play a decisive role in the purchase decision? Were car makers pushing sales too hard or were consumers spreading their income too thin?
Answers to the above questions are likely to shape the much-anticipated recovery in the global economy. The questions assume even greater relevance in India as it is generally believed that the country is at the cusp of a consumer demand driven economic recovery. And what can be a better industry to capture this trend other than automobiles. After all, personal transport, cars and twowheelers are the ultimate dream machines and are among the most aspirational consumer goods. So if there has to be a consumer demand driven economic recovery in India, it will surely begin with the auto industry.
So where do we stand on this? During the nine years ending March 2008 (just before the crisis), the passenger vehicle sales in India grew at a compounded growth (CAGR) rate of nearly 13%. This is higher than 11.7% recorded by gross domestic product (at current prices) during the same period. Obviously, there is a strong link between economic growth and auto sales. But that���s a very crude explanation.
What ultimately drives auto sales is the income that consumers/ households receive on a regular basis. This is captured by the personal disposable income (PDI), which captures that portion of the national income that is available for households to spend the way they find fit. PDI includes salaries and wages, proprietary income in case of selfemployed , cash transfers/income from rest of the world and subsidies & other hand-outs from the government.
The recent PDI trends are shown in the adjoining chart. Although PDI has been rising in recent years along with the expansion in India���s gross domestic product, its growth has been much muted. For instance, while India���s GDP at market price expanded at a CAGR of 11.7% between FY99 and FY08, the growth in PDI was lower at 10.5%. The trend was even worse in case of household consumer spending, which is captured by private final consumption expenditure (PFCE). PFCE, which includes purchases of passenger vehicles besides food and other staples, grew at an annualised rate of 9.6% during the period.
This opened a wide gap between the economic growth and household income and consumption. The adjoining chart shows the movement in the three parameters on a per-capita basis. Between FY99 and FY08, India���s per capita GDP at current price jumped by two & half times to Rs 41,500 at the end of FY08, but consumer spending just doubled to around Rs 23,000. The inference is clear; a progressively lower share of gross domestic product is accruing to households. While nearly 86% of the gross domestic product accrued to households in the form of PDI in 2002-03 , the same declined to 76% in the year ending March 2008.
The demand for cars and twowheelers has not dampened, though. How could households manage the situation ? Primarily through two means, limiting the growth in expenses on non-discretionary items (food and personal care goods) and going for consumer loans, which boomed in the last five years.
The over-reliance on consumer credit, however, leads to instability and pushes up the trendline on either side of the economic cycle. During the economic boom, consumers over-estimate future income and borrow too much while in a downturn they turn pessimistic and under-borrow. The same logic applies to financiers. The net effect is that at the macro level, auto sales are either growing too fast or too slow. Either way, this exacerbates the imbalance in the economy.
But the problem doesn���t end here. As the household income lags behind economic growth in each business cycle, there is even greater temptation on both sides to fill this widening gap by increasing consumer credit. But as the US experience shows, this doesn���t solve the problem; it only postpones it for a latter date. And when that cycle of revolving credit stops, it wrecks havoc as was experienced by the American car makers.
A similar dichotomy is emerging in India and is visible from the growing gap between the index of domestic passenger sales and PDI. The gap has widened every year since FY04. This is not a great recipe for consumer demand led economic growth in India. Even if it does happen, it may not be sustainable and end up in another bubble. Unless it provokes a suitable policy response and a counter trend develops. None of this is visible on the horizon yet.


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Four Seasons Brands Private Jet
Category: Hotels, Posted:19 May 2014 | 06:00 am
Hotel brands are now moving skyward with the latest news that vaunted hospitality luxury brand Four Seasons has launched a private jet.
The Boeing 757 is able to accommodate 52 passengers and a 24 day world tour is priced at USD119,000.
With nine destinations covered, the cost includes hotel, airfare, meals, transfers and excursions.
Certainly one for the bucket list and yes the aircraft does have the Four Seasons name on it.
Destination Ink Radisson For Patong HotelCategory: Hotels, Posted:12 Mar 2023 | 23:16 pm Phuket’s hotel brand conversion trend is continuing, with the latest move having Radisson sign a deal for a 390-room hotel in Patong. Owned by the Destination Group, the property will be branded as a Radisson. This is the fourth recent conversion by Destination with one more Radisson and two Holiday Inns by IHG. Expect more […]


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China's economic growth slowed for a second consecutive quarter, piling pressure on leaders to stimulate a slowing economy hurt by weak trade and efforts to cool a credit boom.
The world's second-largest economy grew by 7.5 per cent compared to the previous year in the three months ending in June, down from the previous quarter's 7.7 per cent, data showed today. Growth in factory output, investment and other indicators weakened.
The latest figures were in line with analyst expectations. They predict growth could fall further in the current quarter, adding to pressure on communist leaders who took power last year and are trying to shift China from reliance on exports and investment to slower, more sustainable growth based on domestic consumption.
Chinese leaders are likely to respond by launching new stimulus to make sure growth hits their target for this year of 7.5 per cent, said Credit Agricole CIB economist Dariusz Kowalczyk.
He said that might include weakening the Chinese currency to spur exports or pumping money into the economy through higher public works spending.
"We will seem some targeted measures to stimulate growth," said Mr Kowalczyk. "They have to do something. Otherwise they will miss their target. And they cannot afford that, because this is their first year in power."
A decline in Chinese economic activity could have global repercussions, denting revenues for suppliers of commodities and industrial components such as Australia, Brazil and south-east Asia. Lower Chinese demand has already depressed prices for iron ore and other raw materials.
Despite the slowdown, communist leaders have expressed determination to stick to plans aimed at nurturing slower and more sustainable growth.
"Major indicators are within our targeted range but we face a complex situation," said a spokesman for the statistics bureau, Sheng Laiyuan.
He said the government's goal is to "promote restructuring" and make more of the "driving force" of the market.
Growth in factory output slowed to 9.3 per cenet for the first half of the year, down 0.2 percentage points from the first quarter's rate, the statistics bureau reported.
Growth in investment in factories and other fixed assets in the first half declined by 0.8 percentage points to 20.1 per cent. Retail sales in the first half rose 12.7 per cent but that was down 1.7 percentage points from a year earlier.
"Further deceleration is possible if reforms and stimulus measures are delayed," said Alaistair Chan of Moody's Analytics in a report.
Chinese leaders have promised to launch reforms aimed at making the economy more productive and helping entrepreneurs but no major changes are expected until after a Communist Party meeting in the autumn.
Growth has also been dented by a crackdown on overly fast growth in bank lending. Government efforts to tighten lending controls caused a temporary shortage of credit in Chinese financial markets last month.
Further efforts to rein in lending, especially unregulated private lending, could hurt entrepreneurs who generate most of the country's new jobs and wealth.
The ruling party's 7.5 per cent growth target for the year is stronger than forecasts for the US, Europe and Japan, but China's weakest performance since 1991.Reuse content


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In the fast-paced world of technology, change is the only constant. As we step into 2023, it’s crucial to take a closer look at the emerging trends that are shaping the future of tech. From artificial intelligence (AI) and quantum computing to blockchain and augmented reality (AR), the tech landscape is evolving at an unprecedented rate. In this article, we will delve into these cutting-edge trends, exploring their potential impact on various industries and our daily lives.
Table of Contents:
We invite you to read: “THE FUTURE OF SOFTWARE DEVELOPMENT: TRENDS AND PREDICTIONS FOR 2023”
1. Artificial Intelligence (AI) Continues to Dominate
Artificial Intelligence has been at the forefront of tech innovation for several years, and in 2023, its dominance is set to grow even further. AI is being integrated into various aspects of our lives, from virtual personal assistants like Siri and Alexa to autonomous vehicles and predictive analytics in healthcare. Machine learning algorithms are becoming more sophisticated, enabling AI systems to understand and respond to human emotions, translating into better user experiences and more efficient decision-making processes.
One of the most exciting prospects in AI for 2023 is the development of AI ethics and regulations. As AI technologies continue to advance, questions about bias, privacy, and accountability have arisen. Governments and organizations worldwide are working towards establishing guidelines to ensure ethical AI deployment.
2. Quantum Computing: Unlocking the Unthinkable
Quantum computing, once a theoretical concept, is becoming a reality in 2023. This revolutionary technology leverages the principles of quantum mechanics to process information at speeds unimaginable with classical computers. Quantum computers have the potential to solve complex problems in fields like cryptography, drug discovery, and climate modeling that were previously deemed unsolvable.
Although quantum computing is still in its infancy, tech giants like IBM, Google, and Microsoft are making significant strides. In 2023, expect to see more practical applications of quantum computing and increased accessibility for researchers and industries.
3. Blockchain: Beyond Cryptocurrencies
Blockchain, the technology that underpins cryptocurrencies like Bitcoin and Ethereum, is expanding its horizons beyond digital currencies. In 2023, blockchain’s immutable and transparent ledger system will find applications in supply chain management, voting systems, healthcare, and more. It promises increased security, traceability, and efficiency in various sectors.
Governments and organizations are exploring blockchain for secure identity verification, reducing fraud, and enhancing transparency in transactions. As blockchain continues to evolve, its potential to disrupt traditional business models and reshape industries becomes more evident.
We invite you to read: “THE TOP 10 TOOLS FOR DEVELOPERS IN 2023”
4. Augmented Reality (AR): Blending the Virtual and Real Worlds
Augmented reality, which overlays digital information onto the physical world, is poised for significant growth in 2023. AR applications are expanding beyond gaming and entertainment into industries such as education, healthcare, and retail. In education, AR can enhance learning experiences by providing immersive content, while in healthcare, it can assist in surgery planning and medical training.
Tech companies are investing heavily in AR hardware and software, making it more accessible to consumers and businesses alike. Expect to see AR play an increasingly vital role in enhancing our daily lives.
5. The Rise of 5G Technology
The rollout of 5G networks worldwide is another trend that will continue to shape the tech landscape in 2023. With faster data speeds, lower latency, and increased connectivity, 5G technology will enable the proliferation of IoT (Internet of Things) devices, autonomous vehicles, and remote work capabilities.
The integration of 5G into various industries, such as healthcare, smart cities, and agriculture, will lead to more efficient and interconnected systems. However, it’s important to address concerns related to privacy and security as these networks become more widespread.
6. Sustainable Tech Solutions
As the world grapples with environmental challenges, sustainability is a key focus in the tech industry for 2023 and beyond. Companies are increasingly adopting eco-friendly practices and developing technologies that address climate change and resource conservation. From renewable energy solutions to eco-friendly product designs, technology is playing a critical role in shaping a more sustainable future.
Efforts to reduce e-waste, create energy-efficient devices, and develop clean energy sources are becoming standard practice for tech companies. Consumers are also demanding greener tech options, driving innovation in sustainable technology.
7. Cybersecurity Challenges
As technology continues to advance, so do the threats posed by cybercriminals. In 2023, the need for robust cybersecurity measures will be more significant than ever. With the proliferation of IoT devices and the interconnectedness of critical infrastructure, securing digital systems is a top priority.
Organizations will invest in advanced cybersecurity solutions, including AI-powered threat detection and proactive threat mitigation. Governments will implement stricter regulations to protect user data and critical infrastructure from cyberattacks.
We invite you to read: “THE FUTURE OF BLOCKCHAIN: TRENDS AND PREDICTIONS FOR 2023”
The future of tech in 2023 is brimming with exciting possibilities and challenges. Artificial intelligence, quantum computing, blockchain, augmented reality, 5G technology, sustainability, and cybersecurity are the key trends that will define the tech landscape in the coming year. As these technologies continue to evolve, their impact on various industries and our daily lives will be profound. Adapting to these changes and embracing innovation will be essential for individuals and organizations to thrive in this rapidly evolving technological era.
What is augmented reality (AR)?
Augmented reality (AR) is a technology that overlays digital information, such as images or data, onto the physical world, enhancing experiences in fields like education, healthcare, and entertainment.
How will 5G technology impact our daily lives?
5G technology offers faster data speeds, lower latency, and increased connectivity, enabling the growth of IoT devices, autonomous vehicles, and remote work capabilities.
What is the significance of sustainable tech solutions?
Sustainable tech solutions address environmental challenges by promoting eco-friendly practices, renewable energy, and clean product designs, contributing to a more sustainable future.
Why is cybersecurity crucial in 2023?
With the rise of cyber threats, robust cybersecurity measures are essential to protect user data and critical infrastructure, driving investment in advanced security solutions and regulations.
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The year 2020 brought a tsunami of events that led to a rise in demand and a fall in supply of medical cannabinoid products in the United States. AJEM spoke with officials and physicians from 3 states that were reporting cannabis shortages—Illinois, Maryland, and Florida—about its effect on patients. Additionally, panic-related buying due to the COVID-19 crisis created supply issues in the United States and around the globe. Experts paint a cautionary tale for the medical supply as more states move toward legalizing recreational cannabis.
A Perfect Storm in Illinois
The undersupply of medical cannabis flower throughout the state of Illinois resulted from the interplay of several factors including the legalization of recreational cannabis, an increase in qualified conditions under the medical marijuana program, and a mismatch between the anticipated vs actual preferred formulation among medical patients (eg, vaping vs smokable).
The Illinois cannabis industry and administration all agree that “medical patients will always be a number 1 priority,” said former state Senator Pamela Althoff, who is Executive Director of the Cannabis Business Association of Illinois, a nonprofit statewide association that represents cannabis businesses in the state.
Ms. Althoff confirmed a shortage in cannabis flower for medical use in 2020 and said that although the shortage was initially anticipated, it was exacerbated by a number of other variables that occurred. The industry prioritized medical patients and collaborated to ensure that there were regional balances in medical and recreational cannabis supplies, with all licensed cultivators expected to reach full capacity by the end of 2020, Ms. Althoff told AJEM. According to an article in the Chicago Sun Times dated February 3, 2021, operators at dispensaries note that, for the most part, the supply issue has been resolved.1
The bill to legalize recreational cannabis in Illinois was signed by Governor JB Pritzker on June 25, 2019, theoretically allowing for a 6-month ramp-up in production before recreational sales began on January 1, 2020. Licensed medical cannabis growers were allowed to submit applications for adult-use cultivation licenses within 60 days of the bill’s approval, with licenses distributed within 45 days thereafter.2,3
Although all 21 medical growers were granted early approval of adult-use licenses,4 the approval process reduced the time required for cultivation, starting with obtaining cannabis clones all the way down to packaging product and disbursement, Ms. Althoff said. Before the recreational cannabis bill was approved, licensed medical growers had not built out to full capacity, but rather grew what was economically feasible for their businesses when there were less than 80,000 medical patients enrolled in the program, she said.
The next wave of the licensing rollout allowed the Department of Agriculture to award up to 40 licenses for processors and up to 40 licenses for craft growers by July 1, 2020; this will be followed by up to 60 licenses for craft growers and up to 60 licenses for processors by December 21, 2021.3
Mismatch of Preferred Formulation and Supply
Additionally, growers and processors mistakenly anticipated that vaping would be the preferred formulation among both medical patients and recreational users, Ms. Althoff said. Thus, markedly more flower was used to create vaping products, taking away from the smokable supply. However, after the nationwide vaping crisis peaked in September 2019,5 patients told the General Assembly during veto sessions in October and November 2019 that they preferred smokable cannabis, she explained.
Evidence of the shortage in the medical stream in the beginning of 2020 was illustrated by the more than $2.5 million decrease in dry flower sales to patients for the month of January 2020 compared with October 2019 ($9,810,221.32 vs $12,528,100.10).6,7 Although the number of retail dry flower sales has continued to steadily increase, so too has the number of qualifying patients.8
More Patients Registered for Medical Use
The number of registered medical marijuana patients in Illinois increased from 76,939 to 153,258 between July 10, 2019 and March 4, 2021—an increase of 99%.9,10 This significant increase was due to a number of legislative changes: First was the August 9, 2019 approval of House Bill 2023, which turned the pilot medical cannabis program into a permanent one and added 11 new qualifying conditions, many of which are highly prevalent (eg, chronic pain, osteoarthritis, and migraine).11-14 The bill also allowed physician assistants, advanced practice nurses, and nurse practitioners to issue certification for medical cannabis.2
Second, Illinois was the first state in the nation to enact an Opioid Alternative Pilot Program (OAPP), which allows access to medical cannabis for patients who have or could receive a prescription for opioids as certified by a physician licensed in Illinois.15,16 The program officially launched on January 31, 2019, and, as of February 28, 2021, there were 908 OAPP patients registered and 1617 awaiting physician certification.15-17
Finally, the application process was streamlined, bringing the time between application and receipt of a medical cannabis card for qualified patients to less than 48 hours, Ms. Althoff said.
Physicians at Essential Nutrition and Wellness’ Barrington and Chicago offices saw a marked increase in the number of patients seeking certification for medical cannabis in December 2019 and January 2020, according to Stephen Smith, who is Director of the Medical Cannabis Division of the practice. In addition to patients seeking cannabis for the new 11 qualifying conditions, they may have entered the program to avoid the graduated excise tax on purchase of recreational cannabis, which ranges from 10% for cannabis containing ≤35% delta-9-tetrahydrocannabinol (THC) to as high as 25% for cannabis containing >35% THC, Mr. Smith said.18
Effect of the Shortage on Patients
Mr. Smith said that his patients reported an overall shortage in medical cannabinoid products, not only cannabis flower. At his Barrington practice, the nearest dispensary now has limited parking because of the increase in business from recreational sales. The practice focuses on patients with inflammatory and pain conditions who often cannot walk a half-mile or more from the only parking spot they can find to the dispensary.
A confounding factor is that patients in Illinois must register with a single medical dispensary when they submit an application for a medical cannabis card. Fortunately, the process to switch dispensaries recently became easier with a new online system, rather than the paper or email requests used in the past.19
As part of the recreational use legislation, medical dispensaries are required to maintain an “adequate supply” of cannabis and cannabinoid-infused products for purchase by qualified patients. Adequate supply was defined as “a monthly inventory level that is comparable in type and quantity to those medical cannabis products provided to patients and caregivers on an average monthly basis for the 6 months before the effective date of this Act.”20
However, patients at Essential Nutrition and Wellness reported product shortages starting in early to mid-December, before recreational sales began, as “dispensaries that have a recreational and medical division started having less supplies available to medical patients.”
Essential Nutrition and Wellness also serves the Rockford, Illinois, area where patients reported that they had been restricted to purchasing only half the allowable supply limit for medical cannabis, according to Mr. Smith. Patients had to either formally switch dispensaries (of which there are relatively few in this area) or seek cannabis from the black market, Mr. Smith told AJEM.
“We, of course, advise patients not to purchase cannabis products from the street,” Mr. Smith said. “We talk about the differences between medical and street cannabis, and try to keep patients going down the medical route. For the most part, our patients—using their creativity and our direction—are able to find an alternative dispensary or an alternative product to treat their medical condition.”
In some cases, patients are supplementing with hemp-based cannabidiol (CBD) products sold in the consumer market, Mr. Smith said. Some patients in the northwest suburb area switched to the few dispensaries that are exclusively providing medical cannabis.
“The other noticeable change following the legalization of recreational cannabis is that the quality of service at dispensaries on the medical side sometimes has decreased,” Mr. Smith noted. Some dispensaries are spending more time with recreational cannabis users and have reduced their staff on the medical side, he noted.
A Call for Interstate Commerce of Medical Cannabis
Mr. Smith called for regulatory changes to allow full interstate commerce of medical cannabis products. He noted that states may be reluctant to allow cannabis sales across state lines as cannabis is a big revenue source, and “states like to contain the revenue inside the state across all of the channels, including growth, production, and distribution.”
To help medical patients, the recreational cannabis bill in Illinois included a stipulation allowing medical marijuana patients to grow up to 5 marijuana plants for personal use.2 However, the administration has received comments from patients regarding the inability to obtain seeds, Ms. Althoff noted. Additionally, she said that the industry rarely uses seeds and instead typically starts cultivation with clones (cuttings from a cannabis plant that are used to grow new plants). The industry is in the midst of working out whether to sell patients seeds or clones as well as packaging requirements, including how many seeds to give and how to package clones to ensure that they remain viable, Ms. Althoff said.
At that time, Ms. Althoff said “We encouraged our long-term patients to stock up because we anticipated that there might be a shortage,” Ms. Althoff said. “We are very well aware of patients’ needs and are trying to work with the administration and state to respond in a timely fashion, while also staying within our boundaries.”
Cautionary Tale to Other States
Illinois is not alone, as physicians in medical states like Florida and Maryland have reported shortages of medical cannabinoid products, causing concern about what will happen to the medical supply as these states get closer to legalizing recreational use.
Shortage of Medical Cannabis in Maryland
In Maryland, “we cannot get the biomass to make products with high CBD levels,” said Leslie Apgar, MD, Medical Director, Greenhouse Wellness, Ellicott City, Maryland.
In the beginning of 2020, the growers currently licensed to produce medical cannabis in Maryland reportedly could not produce enough supply to serve the increasing number of patients seeking treatment in the state, Dr. Apgar said. The number of registered medical marijuana patients increased from 87,019 to 123,376 between December 26, 2019 and December 28, 2020—an increase of 41%—with a total of 17 growers.21-23 Additionally, there is a pressure in the market for growers to produce cannabis strains that are high in THC, she believes.
“We are entering new patients into the medical cannabis program every day who need high CBD products, and I don’t have the products.” When patients come into Greenhouse Wellness requesting to stock up on 10 of a given product because they are afraid they won’t have access to it in the future, “they aren’t lying, there really isn’t enough,” Dr. Apgar told AJEM.
The lack of access to high CBD products “is a problem already, and we are in a medical state. Can you imagine what’s going to happen when our state approves recreational use?” Dr. Apgar said.
Expanding cultivation licenses to smaller boutique growers focused on high CBD cannabis may alleviate the access issue, Dr. Apgar suggested.
Increasing the Medical Cannabis Supply in Maryland
Officials in Maryland are working to increase the medical cannabis supply, with legislation already approved to add an additional 14 growers.23 However, the Maryland Medical Cannabis Commission (MMCC) announced delays in awarding preapprovals for new grower and processor licenses on September 26, 2019 because of concerns raised by the Legislative Black Caucus of Maryland over alleged bias in the application evaluation processes, as well as to allow sufficient time to fully evaluate the highest-ranking applications.24,25 On February 21, 2020, MMCC announced that it hired an independent firm to investigate the impartiality of the application process, and expects the investigation to take at least 45 days, but there is no formal deadline.24
“Maryland licensed growers cultivated greater than 50% more cannabis in 2019 Q4 compared to 2019 Q1 (29,000 lb in Q4 compared with 18,000 lb in Q1), and the amount cultivated continues to increase significantly each month,” said William Tilburg, Executive Director of MMCC.
“Growers are continuing to build out their facilities and increase production,” said Bridget Hill-Zayat, Esq, who is Executive Director of the Maryland Wholesale Medical Cannabis Association (CANMD) and a cannabis law and hemp industry attorney at the Hoban Law Group. “The process of completing construction, inspection by the state, and then harvest is necessarily time-consuming. Even if licensees can control the buildout process, they cannot force the state to send inspectors at will. Also, at the end of the day, we are talking about a plant that requires time to grow.”
Additionally, Ms. Hill-Zayat said that the shortage in medical cannabinoid products in general might result from the “turbulent regulatory environment” in Maryland.
“If medical licensees are not grandfathered into the adult-use market, they have zero economic incentive to increase production,” Ms. Hill-Zayat said. “In effect, if the state (the General Assembly in this case) prevents medical licensees to enter the adult-use market, licensees will not be able to get the investment necessary to scale up.”
“Growers would love to be on solid regulatory ground and be able to start the process of increasing production to account for medical and adult use, but given the situation, they cannot account for anything but a medical market as it exists,” Ms. Hill-Zayat added.
Shortage of Smokable Medical Cannabis Eases in Florida
A shortage of smokable medical cannabis occurred in Florida after the formulation was legalized on March 18, 2019, in the state’s medical cannabis program.26 Although the shortage received nationwide attention, access to smokable cannabis improved in 2020 with the state’s licensing of additional medical marijuana treatment clinics (MMTCs). The MMTCs are the only businesses authorized to cultivate, process, and dispense medical cannabis.26,27
“With more dispensaries now available, the shortage in smokable cannabis has eased in Florida,” said Barry Gordon, MD, Chief Medical Officer of the Compassionate Cannabis Clinic in Venice, Florida. Patients do not have to register with a single dispensary and thus, can find flower by extending their search to other dispensaries in the state, Dr. Gordon told AJEM.28
“It may not be from the MMTC that a patient is used to, or the same cultivar, but by widening out the search, flower can be found,” Dr. Gordon said. “In some ways, there are ‘flower wars,’ as the MMTCs are now offering ‘value products and are selling ‘mini buds’ and ‘ground flower’ at a lower price point.”
“The Medical Marijuana Business Association of Florida [MMBAFL] communicates regularly with legislators and regulators at the Office of Medical Marijuana Use to advocate to ensure that there is adequate supply of medical cannabis production and dispensing to meet the needs of Florida’s growing patient population,” said Jeffrey Sharkey, PhD, President of MMBAFL. “This advocacy has included lifting the ban on smokable flower that existed up until spring 2019, assisting with eliminating barriers at the local government level from restricting dispensary locations, and ensuring that MMTC licensees are fully operational and fulfilling their responsibility to provide product to patients throughout the state.”
Dr. Sharkey explained that several licensees have not actually opened up dispensaries and have been waiting to sell their licenses to out-of-state investors, which limits competition and lowers prices for dispensing MMTCs. “We also believe that the Florida Department of Health needs to issue the additional MMTC licenses authorized under the 2017 state law to help increase production, increase competition, and ensure that patients have choice and affordable products,” Dr. Sharkey said.
Medical marijuana products that are high in THC still dominate the supply in Florida (Table), and Dr. Gordon confirmed an ongoing shortage of high CBD:low THC products in the state.
“I am considering carrying a hemp-based, full-spectrum CBD extract if I can properly source one because the MMTCs in Florida are having trouble keeping high-quality CBD products,” said Dr. Gordon.
How Can Florida Protect the Medical Cannabis Supply?
Doctors like Dr. Gordon believe that Florida is at least 4 years away from legal adult use, noting that the delay might be a “good thing.” For now, he is most concerned about Florida’s looming THC cap, pointing out that patients would need to use twice as much product to obtain similar relief.
When patients ask about whether legalized cannabis will be beneficial for medical cannabis patients, “I point to Illinois as an example of how legal adult use equals high taxes. Our medical cannabis products are untaxed and will remain so, and our supply of medical cannabis is guarded for now. The Florida MMTCs are not ready for an adult-use market, and we would greatly suffer from a shortage of medication. Thus, allowing MMTCs to ramp up production while we protect our patients is appropriate,” Dr. Gordon said.
For now, “If and when the adult-use ballot initiative gets on the ballot—in 2022 probably—it is imperative that additional cultivation, processing, and retail dispensing licenses be made available to meet the demand of adults in a state with 21 million people,” Dr. Sharkey said. “Currently, the Florida medical marijuana license is vertically integrated, meaning that each MMTC must perform all aspects of the supply chain, cultivation, testing, extraction, product development, and dispensing. Each dispensary sells only the products from the MMTC, there are no wholesale sales between licensees.”
However, if adult use becomes law, a decoupling of the vertical integration would need to occur, according to Dr. Sharkey, to allow for diversity and specialization, which would give patients more choices. Additionally, “the regulatory framework would need to allow some oversight of out-of-state capital investment and public company ownership in the licenses,” he said.
“Furthermore, the legislature would have to address the potential for taxing the industry to help provide adequate regulatory and public safety oversight of the industry,” Dr. Sharkey concluded. “Currently, the only tax is sales tax, and it is not dedicated to funding the regulatory agency or law enforcement.”
Physicians in the United States continue to grapple with a shortage of medical cannabinoid products and the impact it has on patients, as it relates to the legalization of recreational cannabis. Additionally, the medical supply chain is undoubtedly being affected by panic buying and workforce shortage related to the COVID-19 pandemic (see COVID-19, page 33). AJEM will continue to follow these stories as they develop.
- Schuba T. Illinois dispensaries sold record $88 million in January after massive first year of recreational weed sales. Chicago Sun Times. March 10, 2021. Accessed February 22, 2021. https://chicago.suntimes.com/cannabis/2021/2/3/22264379/illinois-recreational-weed-sales-record-january-2021-pot-marijuana-cannabis
- Illinois Department of Public Health. Medical cannabis patient registry program. Accessed March 10, 2021. http://www.dph.illinois.gov/topics-services/prevention-wellness/medical-cannabis
- Illinois Department of Agriculture. Adult use cannabis summary. Accessed March 10, 2021. https://www2.illinois.gov/IISNews/20242-Summary_of_HB_1438__The_Cannabis_Regulation_and_Tax_Act.pdf
- Illinois Department of Agriculture. Adult use of cannabis: application submission update. Accessed March 10, 2021. https://www2.illinois.gov/sites/agr/Plants/Pages/Adult-Use-Cannabis.aspx
- Centers for Disease Control and Prevention. Outbreak of lung injury associated with e-cigarette, use, or vaping. Updated February 25, 2020. Accessed March 10, 2021. https://www.cdc.gov/tobacco/basic_information/e-cigarettes/severe-lung-disease.html#map-cases
- Medical Cannabis Patient Program. MCCP update February 18, 2020. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/update02182020_mcpp.aspx
- Medical Cannabis Patient Program. MCCP update November 7, 2019. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/update11072019_mcpp.aspx
- Medical Cannabis Patient Program. Updates. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/Updates.aspx
- Medical Cannabis Patient Program. MCCP update March 4, 2021. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/update03042021_mcpp.aspx
- Medical Cannabis Patient Program. MCCP update July 10, 2019. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/update07102019_mcpp.aspx
- Chicago Sun Times. Pritzker makes medical marijuana program permanent, adds list of new conditions. Accessed March 10, 2021. https://chicago.suntimes.com/cannabis/2019/8/12/20802391/pritzker-makes-medical-marijuana-program-permanent-adds-list-new-conditions
- Illinois Senate Bill 2023. Accessed March 10, 2021. https://legiscan.com/IL/bill/SB2023/2019
- ABC News. Illinois medical marijuana: new qualifying conditions added as program becomes permanent. Accessed February 19, 2021. https://abc7chicago.com/5373720/
- State of Illinois list of qualifying conditions. Accessed March 10, 2021. https://www.dph.illinois.gov/topics-services/prevention-wellness/medical-cannabis/debilitating-conditions
- Illinois Department of Public Health. Opioid alternative pilot program. Accessed March 10, 2021. http://www.dph.illinois.gov/topics-services/prevention-wellness/medical-cannabis/opioid-alternative-pilot-program
- Illinois General Assembly. Public Act 100-1114. Accessed March 10, 2021. http://www.ilga.gov/legislation/publicacts/100/PDF/100-1114.pdf
- OAPP Update. March 4, 2021. Accessed March 10, 2021. https://www2.illinois.gov/sites/mcpp/Pages/update02032021_oapp.aspx
- Illinois revenue. Cannabis tax frequently asked questions. Accessed March 10, 2021. https://www2.illinois.gov/rev/research/taxinformation/other/Pages/Cannabis-Tax-Frequently-Asked-Questions.aspx
- Illinois Department of Public Health. Select or change a medical cannabis dispensary. March 10, 2021. http://www.dph.illinois.gov/topics-services/prevention-wellness/medical-cannabis/select-a-medical-cannabis-dispensary
- Illinois General Assembly. Cannabis regulation and tax act. Accessed March 10, 2021. http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=3992&ChapterID=35
- Maryland Medical Cannabis Commission. Current grower licensees as of January 2021. Accessed March 10, 2021. https://mmcc.maryland.gov/Documents/Licensees%20(Dispensaries,%20Growers,%20Processors)/GROWERLICENSEE%20LIST%20JAN2021.pdf
- Maryland Medical Cannabis Commission 2020. Total Certified Patients. Accessed March 10, 2021. https://mmcc.maryland.gov/Documents/Data,%20Stats,%20Resources%20Page%20Docs/2020%20pt.%20cg.%20prov.%20charts%20vertical.pdf
- National public radio. Admid Maryland’s medical marijuana boom, minority growers say they are still shut out. Accessed March 10, 2021. https://www.npr.org/local/305/2019/10/10/768869090/amid-maryland-s-medical-marijuana-boom-minority-owners-say-they-re-still-shut-out
- Maryland Medical Cannabis Commission. Medical cannabis grower and processer license update. Accessed March 10, 2021. https://mmcc.maryland.gov/Documents/MMCC%20Application%20Communication%20(Feb.%2021,%202020).pdf
- Maryland Medical Cannabis Commission. Letter to the Governor and General Assembly. Accessed March 10, 2021. https://mmcc.maryland.gov/Documents/MMCC%20Letter%20to%20the%20Governor%20and%20General%20Assembly%20(October%208,%202019).pdf
- Florida Health Medical Quality Assurance. Medical use of marijuana in a form for smoking. Accessed March 10, 2021. http://flhealthsource.gov/mum/
- Office of Medical Marijuana Use. March 5, 2021 Update. Accessed March 10, 2021. https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/030521-OMMU-Update.pdf
- Florida Health. More medical marijuana licenses will increase access. Accessed April 5, 2020. http://www.floridahealth.gov/newsroom/2018/07/071318-ommu-press-release.html
Figure. Timeline of events leading to medical cannabis shortage in Illinois.


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What we know about cyberpunk 2047, including when it’s coming to Australia
We’re still waiting to see if cyberpunk 21 will be released here, but if we were to take the release date at face value, it’s unlikely that it’ll come to Australia.
However, if the Australian Cyber Security Commission (ACSC) and the Department of Immigration and Border Protection (DIBP) do decide to bring Cyberpunk 2075 to Australia in 2019, we may get a glimpse of the game’s future.
The ACSC said in a statement that they had received a notice from Microsoft regarding an ACSC-developed software upgrade that would enable the release of Cyberpunk 21.
This upgrade would allow for a wider variety of users to download the game and run it, which would allow more players to experience the game before the game is released.
The Microsoft statement also confirmed that a Cyberpunk-focused PC emulator was currently running on a PC at the Department’s headquarters.
The ACSC did not provide a reason for the delay.
In the meantime, Microsoft has provided a detailed explanation of why it is waiting for Microsoft to officially release Cyberpunk 2020.
The game is being developed at the studio behind Fallout 3 and Halo Wars.
Microsoft has been tight-lipped about the project, but in its statement, it said that it was working to make the release possible.
This would be Microsoft’s first major game in Australia.
It’s the first game developed for the Australian console market, and the first for a new generation of consoles, following the Xbox One and PlayStation 4.
It is expected to be the most successful game of its generation, with more than $500 million in global sales.
Microsoft has yet to announce any release dates for the game, but it has hinted that it may launch at some point in the future.
Microsoft will be releasing Cyberpunk 2021 at a later date.
We’ll keep you updated as we hear more.


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iPhone 5 front panel 4-inch screen pictures leaked
Stolen photos of what could be the next Apple iPhone seems to confirm that the company is now focusing on a 4-inch screen for its flagship device, leaving the fact of 3.5 inches so far in order.
The two photos published by UBreakiFix are not particularly revealing details about what the new iPhone could be in the reality. Previous leaks of the front of the device already revealed a focused video sensor, which is now confirmed by these two new pictures. However, the screen was far away from all.
The site MacRumors believes that the new iPhone will feature a 4-inch diagonal screen, against 3.5-inch screen for the previous models. Speculation that comport with a discovery made in the development tools of iOS 6, which allows the phone to adapt an application to the definition of 1136x640 pixels, while the definition of the iPhone 4S is 960x640 pixels. In the IOS simulator, the approach is reflected in particular by adding a line of icons on the application panel.
The new iPhone could be unveiled at an Apple keynote in September - rumors suggest the 12th - to be available on American soil at the end of that month.
Image Credit - UBreakiFix
Dell C610 PIII 1Ghz
Codi DC/DC adaptor


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Like toy blocks hurled from the heavens, nearly 80,000 shipping containers are stacked in various configurations at the Port of Savannah — 50 percent more than usual.
The steel boxes are waiting for ships to carry them to their final destination, or for trucks to haul them to warehouses that are themselves stuffed to the rafters. Some 700 containers have been left at the port, on the banks of the Savannah River, by their owners for a month or more.
“They’re not coming to get their freight,” complained Griff Lynch, the executive director of the Georgia Ports Authority. “We’ve never had the yard as full as this.”
As he speaks, another vessel glides silently toward an open berth — the 1,207-foot-long Yang Ming Witness, its decks jammed with containers full of clothing, shoes, electronics and other stuff made in factories in Asia. Towering cranes soon pluck the thousands of boxes off the ship — more cargo that must be stashed somewhere.
It has come to this in the Great Supply Chain Disruption: they are running out of places to stash things at one of the largest ports in the United States. My story from Savannah with magnificent photos from @erinschaff https://t.co/8jVdNQB3zM
— Peter S. Goodman (@petersgoodman) October 10, 2021


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Developments in the crypto industry have put cryptocurrencies in the spotlight over the last couple of months. Governments around the world are developing policies regarding cryptocurrencies, some positive and some ominous for the crypto industry.
In India, a committee formed by representatives from different ministries and regulatory authorities has issued a report that pushes for the banning of all cryptocurrencies in the country. The committee further recommends that there be the development and establishment of an Indian cryptocurrency called the E-Rupee. The report has come after rumors of a potential ban have been circulating in the country and stakeholders are not surprised by the report compiled by the committee.
The report extensively discusses blockchain and the potential it has to transform various industries. Areas such as land management are specifically mentioned in the report. The conclusion that the committee came to is that citizens cannot be permitted to hold or transact using cryptocurrency. However, banks and other financial institutions should be permitted to make use of digital ledgers in their business. Accompanying the report is a proposed piece of legislation that would make it illegal to hold, buy or sell digital assets.
While there is the suggestion that cryptocurrencies be banned, blockchain technology can still be used for purposes of research and education. Transactions involving cryptocurrency are still banned in those cases and the work done should avoid any and all kinds of crypto transactions.
In the report, the committee has encouraged the government to develop its own cryptocurrency. The “Digital Rupee”, if it is established, will become the only legal crypto that can be used within the borders of India. It is not clear where the committee stands in terms of allowing Indian citizens to engage in online crypto trading with the proposed E-Rupee.
The proposal of a government issued cryptocurrency has not come as a surprise as there have been signs pointing to the government’s intention to establish a cryptocurrency of its own. India’s central bank has already stopped its subordinates from offering services to crypto companies and it was suspected that this was because the bank was working on its own digital assets.
Outdated findings in the report
The committee has taken two years to come up with the report they have now published. It mentions that there are no countries in which digital assets are legal tender but this statement is not accurate today. A number of countries have made strides towards adopting cryptocurrency and in the United States, you can make some payments using cryptocurrencies.
Implications of the proposed ban
The “Banning of Cryptocurrency and Regulation of Official Digital Currency Act of 2019” would criminalize any crypto related activity. The bill prescribes a prison sentence of no less than one year and the sentences could be as long as ten years. There is also a proposition of fines that are up to three times the amount a person earned in their crypto trading.
If the government takes up the suggestion of the committee, India would become the first country to completely ban cryptocurrency. The crypto community in the country can take comfort in the fact that it is likely to take years before the legislation is debated by parliament and put into effect. By then, a lot would have changed in the crypto world and the government’s position may have shifted.


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Leading Automakers Including BMW, Lexus and Mercedes-Benz to Unveil Vehicles at Annual Auto-Tech Trade Show
LOS ANGELES, CA (Sept. 7, 2017) – The Los Angeles Auto Show (LA Auto Show®) announced today that more than 50 vehicles will make their debut during AutoMobility LA™ (Nov. 27-30, 2017), the first true trade show for the new transportation sector.
This year, global vehicle reveals scheduled for AutoMobility LA include models by leading automakers such as General Motors, INFINITI, Lexus, Lincoln and Toyota. German giants BMW and Mercedes-Benz are also planning for significant world and North American premieres at AutoMobility LA.
In addition, MINI’s new Electric Concept vehicle will make its North American debut, while Mitsubishi will reveal its 2018 Eclipse Cross. Alongside vehicle debuts and experiential showcases from Audi, Hyundai, Jaguar, Land Rover, Volvo and more, this year also marks the first time Tesla will exhibit in a main hall of the show.
“L.A. is at the forefront of the ever-evolving new mobility industry,” said Lisa Kaz, President of AutoMobility LA and the LA Auto Show. “With this vehicle debut lineup, we’re set to deliver the best of what’s to come in the automotive space. We look forward to seeing these exciting vehicles unveiled during AutoMobility LA and learn how they will shape the future of the industry.”
Formerly known as Press & Trade Days and Connected Car Expo, AutoMobility LA is an annual event that showcases the latest in automotive innovation and aims to further the discussion around an ever-changing industry. A gathering of leading technology companies, automakers, designers, entrepreneurs, government officials and more, Tuesday’s AutoMobility LA Conference is where attendees gain insight from a diverse mix of thought-leaders, explore auto-tech exhibits and more inside the Technology Pavilion. As with previous years, AutoMobility LA’s Wednesday and Thursday lineup will include vehicle debuts by leading automakers, Design & Developer Challenge presented by Microsoft, Top Ten Automotive Startups Competition, green/technology announcements, test drives and networking events.
Following AutoMobility LA, all of this year’s vehicle debuts will be on display at the 2017 LA Auto Show (open to the public December 1-10).
To register for AutoMobility LA, please visit: http://automobilityla.com.
About the Los Angeles Auto Show and AutoMobility LA
Founded in 1907, the Los Angeles Auto Show (LA Auto Show®) is the first major North American auto show of the season each year. In 2016, the show’s Press & Trade Days merged with the Connected Car Expo (CCE) to become AutoMobility LATM, the industry’s first trade show converging the technology and automotive industries to launch new products and technologies and to discuss the most pressing issues surrounding the future of transportation and mobility. AutoMobility LA 2017 will take place at the Los Angeles Convention Center Nov. 27-30, with manufacturer vehicle debuts intermixed. LA Auto Show 2017 will be open to the public Dec. 1-10. AutoMobility LA is where the new auto industry gets business done, unveils groundbreaking new products and makes strategic announcements in front of media and industry professionals from around the globe. LA Auto Show is operated by ANSA Productions. To receive the latest show news and information, follow LA Auto Show on Twitter at twitter.com/LAAutoShow, via Facebook at facebook.com/LAAutoShow or on Instagram at https://www.instagram.com/laautoshow/ and sign up for alerts at http://www.laautoshow.com/. For more information about AutoMobility LA, please visit http://www.automobilityla.com/.


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Walkhighlands Review February 7, 2016 by PTC* 0 This odd winter has kinda messed with my review schedule on Walkhighlands, so I'm now looking at testing the stuff for next winter just now as forward samples are becoming available, never will I have been so organised.christian louboutin store cape town office 00 in the Shopping Cart) or pop along in person to the Handlebar Club First Friday meetings and the AGM and collect one for £. Jan, 2016 Categories: News by News Desk Older drivers hit hardest by price hikes Older motorists turn out to be hit hardest by recent car insurance price hikes that have been ravaging the British car owning populace.
§ 512(k), ANY PERSON WHO KNOWINGLY MATERIALLY MISPRESENTS THAT MATERIAL OR ACTIVITY IS INFRINGING MAY BE SUBJECT TO LIABILITY OR DAMAGES.christian louboutin outlet madrid bebes Enter the MV 1, a completely new concept that has been a long time coming: build a wheelchair accessible vehicle from the ground up that is designed for commercial fleet use. Categories: News Tags: Digital Comics Pencil United February 18, 2016 by Pipedream Comics MORE Overrun #1 4 (Treemondo) NO COMMENTS YET Technology is everywhere these days, but what if you were to tell a story from within that technology.christian louboutin peep toe shoes online
See all Economy General business conditions, Inflation, Labour market Health and safety Employee health, Health and safety management, Health. The final two plays Who's On First and Match are set to premiere during back to back weekends on June 18 through 21 and June 25 through 28, respectively. More 'Try before you buy' auction 3 March 2016 A new classic car auction company is to hold its inaugural event in May and is promising a novel.red bottom shoes for women christian louboutin
Again, whether you fully believe Donaghy or not, he does provide a fascinating perspective into the world of refereeing that simply no one else can provide.


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FCA to skip Paris as Volvo focuses on bespoke activities to launch vehicles
20 June 2018
20 June 2018
Fiat Chrysler Automobiles (FCA) has become the latest brand to suggest it will miss one of the large upcoming automotive shows.
The Italian group will miss the Paris car show, set to take place later this year, joining Ford and Volkswagen in skipping the event. Reports in France suggest that none of the company’s brands, Fiat, Alfa Romeo, Jeep and Abarth, will be present at the event.
Maserati will not take a traditional stand, but may have a presence in the ′Mondial limited’ zone dedicated to supercars, with a decision expected later this month. The Lancia brand will also not display, although this was expected as the make is only available in Italy. However, Ferrari will be present, although this marque was spun out of FCA in 2015.
FCA decided that potential sales and publicity did not justify the outlay to take part in the show, France magazine L’Argus quoted an FCA spokesman as saying. The brand also skipped the Frankfurt show last year.
Last month, Volkswagen (VW) announced it was skipping Paris. The carmaker has scaled back its event commitments since the diesel scandal in 2015, taking only a small stand space at Detroit and Frankfurt, as it looks to cut costs and divert finances into research and development of new technologies.
′The Volkswagen brand is continually reviewing its participation in international motor shows,’ the carmaker said when announcing the news. Instead of participating with its own stand at the show on 2-3 October, VW said it could host ′various communications activities’ in the French capital.
Mercedes-Benz, BMW and Audi are not attending the Detroit show in January.
Volvo also recently announced it was missing the 2019 Geneva show. The company has said it will continue its move away from traditional auto industry events to focus on bespoke activities to introduce its new cars, technologies and services to media and consumers.
The company’s most recent new-car launches revealed the XC40 compact SUV at the 2017 Milan Fashion Week and unveiled the new V60 premium mid-size estate in the driveway of a suburban home in Stockholm.
Later this month, Volvo will also launch its new S60 sports saloon at the inauguration of the company’s first US manufacturing plant, in Charleston, South Carolina.
′The ongoing change in the car industry is creating new audiences for Volvo Cars and new ways of bringing products to the market,’ said Björn Annwall, Senior Vice President of Strategy, Brand and Retail at Volvo Cars. ′Automatic attendance at traditional industry events is no longer viable – we must tailor our communications based on how the options complement our messaging, timing and the nature of the technology we are presenting.’


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What if you were your own password? A system capable of preventing any intrusion while guaranteeing you great ease of access could well replace all our virtual keys. Apple, Google and Microsoft are working together with the help of the World Wide Web Consortium and the FIDO Alliance to develop a more secure and practical solution to passwords. The solution ? Biometric scans, analyzing our fingerprints or our face. “The full shift to a passwordless world will start with consumers making it a natural part of their lives. Any viable solution must be safer, easier and faster than passwords and the older multi-factor authentication methods used today,” Alex Simons, vice president of program management, said in a statement. identity of Microsoft.
“By working together as a community across platforms, we can finally realize this vision and make meaningful progress towards eliminating passwords,” added Alex Simons. We see a bright future for FIDO-based credentials for both consumers and businesses, and we will continue to build support for Microsoft apps and services.” At this time, no specific date regarding this change has been communicated. In its press release, however, Apple informs that this new system could well arrive “currently this year”. The “forgot password” button could therefore soon be a vague memory.


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Hailed by its builders as the world’s first production foiling yacht, UAE-based ENATA Industries’ new ‘Foiler’ had its world debut at the Dubai International Boat Show in March 2018 and has now been upgraded. The company has released images and details of its new 2020 edition which, according to the ...
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November 18, 2008
A pair of surveys released this month indicate that social media is becoming a must for online retailers.
According to the initial findings of research firm OTX for word-of-mouth marketer DEI Worldwide, taken by 500 people over the age of 13, 63% of …
February 16, 2010
Every merchant is talking about social media, and there plenty of opinions about how to do it right. We thought it was important to check in with customers to get their thoughts.
As part of a study of nearly 10,000 visitors …
October 29, 2009
Email Gone Viral:
How To Extend Email
Reach Through Social Sharing
Register now for this informative live webinar
Consumer adoption of social networks and media has exploded in the last year and can no longer be considered a fad, nor …More...
October 20, 2009
August 11, 2009
Let’s face it: Many large corporations are currently facing a no-win situation when it comes to customer service.
According to a March, 2009 Forrester report titled “The State Of Service Provider Customer Service”, the number of services offered by “service” …
August 1, 2009
Search and social have collided, and now they affect each other. Not only is search now social, but it also possesses its own unique voice.
The voice is that of your customers — who are connecting and communicating within social media …
October 30, 2011
Men are more likely than women to conduct five of six social shopping activities, according to the 2011 Social Shopping Study conducted by ROI Research for performance marketing agency Performics.
Contradicting commonly held beliefs about gender and social behaviors, the study …
In Social Media
May 3, 2011
In an effort to better serve multi-touch point, always-on, and empowered consumers, a growing number of retailers are experimenting with mobile and social initiatives – some that are paying immediate dividends, and some that are still in the speculative phase. According …More...
April 9, 2011
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–ShopSocially today announced the general availability of its social commerce suite “Social Connect” for online retailers and unveiled partnerships with dozens of top retailers including Sephora, CafePress, Zales, Rawlings Gear and several others. Retailers …More...
April 7, 2011
GRAPEVINE, Texas & SAN FRANCISCO–(BUSINESS WIRE)–Today, GameStop Corp. (NYSE: GME), the world’s largest multichannel video game retailer, has selected Adgregate Markets, the leader in secure social commerce solutions, to provide social shopping on its Facebook page through Adgregate’s …More...


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Total Market Cap $576.1 BN (+2.04%)
24 Hour Volume $143 BN (-28.71%)
Notable Movers Keep3rV1 (KP3R) (+48.87%)
Bitcoin Dominance 62.3% (-0.16%
UK To Start Distributing COVID Vaccine Next Week
And now begins the distribution of the Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) vaccine for COVID-19. The rollout begins next week, and it will likely be quite difficult. “Although the NHS is well versed in delivering vaccines (it delivers around 15 million flu vaccines per year as an example), the Pfizer/BioNTech candidate has well flagged characteristics that make it more difficult to deliver,” said Dr. Adam Barker, health analyst at Shore Capital. This is because the vaccine needs to be stored at -70C, a bit colder than your average freezer, and delivered in special delivery containers filled with dry ice, which is frozen carbon dioxide, which sublimates. DHL, will help in the logistics of the delivery throughout the country with its “Medical Express” service. The UK has ordered 40 million doses for 20 million people over the course of this year and next. Batch testing has already been completed for the first 800,000 doses. According to British Prime Minister Boris Johnson, the vaccine will not be mandatory.
Bitcoin Back Above $19,000
Bitcoin (BTC-USD) is back above $19,000, having gained over 11% in the past week. The move higher in the crypto space is coinciding with a strong selloff in the US Dollar (NYSEARCA:UUP), down 4% in the last month. Dominance of the original cryptocurrency compared to the rest the market is now around 62%, slightly down from the peak of 70% hit in 2019 prior to the 2017 run to previous highs just below $20,000.
The $18,500 inflection point, along with the $20K psychological resistance seems to be asserting itself. Even though price technically made an all time high, it does not change the fact that the $20K to $20,200 area is a highly vulnerable location to put on new longs.
Paul Tudor Jones is a HODLER?
The cryptocurrency, which scaled a record high this week, is on a "crazy rocket ship ride” that’s set to go higher, according to the veteran investor and trader.
While Jones doesn't consider himself a cryptocurrency expert "by any stretch," he told Yahoo Finance that he expects the digital coin will be "substantially higher" in 20 years. On Thursday, Bitcoin — which has surged 113% since May — was trading north of $19,300 with a $359.37 billion market cap.
"In a world where you've got $90 trillion worth of equity market cap and God knows how many trillions of fiat currency, etcetera...it's the wrong market cap, for instance, relative to gold, which is $8 or $9 trillion," Jones said in an exclusive interview.
"I'm going to assume that it's the wrong price for the possibilities that it has. And I'm going to assume that the path forward from here is north," he added.
He added that Bitcoin reminds him of internet stocks in 1999 when the internet was in its infancy." No one knew how to value it because of the world of possibility that lay ahead," Jones said.
Back then, few had an idea of how the Internet would play out as some companies crashed and never came back. Others, however, ended up as dominant worldwide players.
"My guess is that's what we're going to sort through— that kind of crazy competition, winners and losers, et cetera in the digital world," Jones said.
The Fastest Horse
In a May investor letter, the Tudor Investment Corp.'s founder and CIO provided a lengthy discussion in an investor memo on how Bitcoin can serve as an inflation hedge, as monetary expansion funds additional debt, which was already sky high before the pandemic hit.
At the time, Jones ranked Bitcoin as No. 4 on his list of inflation hedges, calling it an investable asset that falls into the category of a store of value and is semi-transactional. He noted that his profit-maximizing strategy was "to own the fastest horse" among the cryptocurrencies.
Meanwhile, Jones is certain of is the digitization of money is the future, especially as more central banks move toward their own digital currencies. He predicted that current generations and sovereign governments will eventually use their own versions of crypto.
"They may have their own digital currency, whatever. They'll be very, very, very commonplace at that point in time. Cash may be gone,” he told Yahoo Finance. “And so in that world, where does Bitcoin fit in, as well as some of the other cryptocurrencies?" he asked.
If Jones had to guess, he thinks the future of Bitcoin is "going to be a lot like the metals complex," where you have ‘precious’ digital coin.
Bitcoin is “the first crypto, first-mover in a world that's so compressed. It has that historical integrity within digital currencies that it will always have …And again, because of its finite supply, that might be the precious crypto," he added.
What's more, the future might lend to more transactional cryptocurrencies along with the sovereigns' digital currencies.
"And they may be more like the industrial metals, so where you have gold as a precious metal, and then you've got copper and platinum, palladium, et cetera that are industrial — lead, aluminum, industrial metals. You may have precious crypto, and you may have industrial crypto," he said.
While it's impossible to know what the next 10 or 20 years will look like, Jones said if he had to take a position on it, it's going to be "the brand name," which is Bitcoin.
He also expects that sovereigns will fight back against cryptocurrencies, similar to what happened with gold in the 1930s when the federal government seized it.
"We were all actually on the gold standard because of its neutrality. And then, of course, we came off. They banned it. But it had appeal,” the investor explained.
“It's hard to understand what the future of a currency, any particular currency, is going to be," Jones added.
In the News
Institutional demand for the Grayscale Bitcoin Trust is continuing to rise. As Cointelegraph notes, buying one share in this trust is currently 35% more expensive than buying Bitcoin at the current market price. Grayscale owns Bitcoin worth $10.2 billion according to its latest report — buying twice as much BTC as was mined in November. Read more
With institutional interest in digital assets continuing to surge, S&P Dow Jones Indices has announced it is planning to launch a crypto indexing service in 2021. The company says "reliable pricing data" is needed given how investor interest is growing. (I’ve heard that CoinMarketCap is very good.) Decrypt says the move could reduce some of the volatility seen in the crypto markets today. Read more
CipherTrace has issued an alert after receiving reports of a phishing scam targeting the MetaMask wallet. The blockchain intelligence firm says funds have been stolen through a malicious Chrome browser extension masquerading as an official MetaMask product. We’ve put the fake and real MetaMask pages side by side on our blog — can you tell the difference between them?
Speculation is growing that Spotify is about to start accepting crypto. It comes after the music streaming giant advertised a job vacancy for a payments director who has experience in digital assets. The addition of crypto as a payment method would be music to the ears of its subscribers, and could help Spotify break into markets where levels of financial inclusion are low. Read more


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Jon Bonné anoints Cathy Corison the Chronicle’s Winemaker of the Year. (As regular readers know, we interviewed Cathy back in April.)
The Newark Star-Ledger urges the New Jersey Assembly to legalize the direct shipment of wine to Garden State consumers.
In the Wall Street Journal, Jay McInerney details his 10 wine resolutions for 2012.
On his blog, Jon Bonné revisits disgorgement dates on Champagne – and urges consumers to start caring about this issue.
Eric Asimov takes “a closer look at Bordeaux, tasting 20 bottles from the 2008 vintage in a range of prices up to $100.”
Some great news for our female readers: A new study has concluded that women who drink two glasses of wine a day have better sex than non-drinkers.
On the CrushPad blog, W. Blake Gray outlines how to get your wine noticed by reviewers.
Dave McIntyre is stumped by blind tasting of a Virginia wine!


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PTC, a leading technology solutions provider, has announced the launch of its “Reality Lab.” The researcher-run center aims to devise applications that will optimize augmented reality, virtual reality, mixed and physical with the goal of elevating human interactions with surrounding physical environments.
“AR connects the wealth of digital data generated by the IoT and digital transformation initiatives with the physical world in which we apply it,” said Jim Heppelmann, president and chief executive officer of PTC. “Our new ‘Reality Lab’ will enable enterprises to advance the way they serve customers, train employees, design and create products, manage their value chains, and how they compete.”
Based at PTC’s headquarters in Needham, Mass., the innovation hub is set to open in 2019, a PTC spokesman said. The lab will be supervised by MIT grads, Valentin Heun and Benjamin Reynolds, who will also serve as lead scientists, said the spokesman.
The duo is behind AR platform Reality Editor, which enables users to link smart objects by simply drawing a connecting line on a smartphone screen. “PTC is known worldwide for its technological excellence — and a prowess for pushing the frontiers of technology to make the industrial world more efficient,” said Heun, vice president of technology and office of the chief technology officer of PTC.
This isn’t PTC’s first foray into the AR or VR segment. The solutions provider acquired Vuforia AR custom development platform for $65 million in 2015. At the time of the deal, Vuforia was supported by a global ecosystem of developers in 130 countries and powered more than 20,000 apps with over 200 million app installs.
Since then, PTC has regularly demonstrated its ongoing dedication to the AR and VR field. Maximizing on the Vuforia purchase, PTC grew is ThingWorx Industrial Innovation technology. In this latest phase of growth in the category, PTC will continue to elevate traditional business interactions and responsibilities with the technologies by empowering users to visualize, instruct, guide and improve interaction with physical things, the PTC spokesman said.
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