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Quick Hits …
(A few short items to get us started this week)
• Jefferies’ vehicle miles traveled (VMT) model predicts that December VMT was 246.60 billion miles (down 10% year over year), with an upper limit of 257.80 billion miles and a lower limit of 235.70 billion miles. Jefferies’ model predicts that January VMT was 238.00 billion miles (down 6% year over year), with an upper limit of 249.30 billion miles and a lower limit of 225.60 billion miles.
• The February 2021 Tune-Up report from Jefferies notes continued positive feedback regarding first-quarter 2021 retail demand from suppliers and service operators due, in part, to harsh winter weather and additional stimulus. “Conversely, more frequent mention of supply-chain challenges — including production disruption, higher material costs, shipping costs and a weaker U.S. dollar — leads us to believe retailers are focused on de-risking supply chains with broader sourcing while potentially raising retail prices in the second half of 2021,” analysts Bret Jordan, Mark Jordan and Ethan Huntley wrote.
• The Auto Care Association/Northwood University Automotive Aftermarket Business Confidence Index slipped from 24.44 in December 2020 to 18.87 in January 2021, indicating that — while aftermarket business leaders’ confidence for the industry over the next 12 months has slipped somewhat — they remain solidly in the “slightly more confident” range. Click here to view charts depicting the index’s movement over time.
• AutoZone Inc. has promoted Eric Gould from vice president of supply chain replenishment to senior vice president of supply chain, replacing Mitchell Major, who died Jan. 29, 2021. In his new role, Gould, who joined the company in 1992, will serve on AutoZone’s executive committee.
O’Reilly Automotive Discusses Network Growth, Product Availability And More
2020 was a milestone year for O’Reilly Automotive, ending with record fourth-quarter revenue and earnings. Despite obstacles presented by the coronavirus pandemic, the company was able to open 156 net new stores in 2020, including its first greenfield new store in Mexico, which opened during the fourth quarter.
“We’ve been very pleased with our team’s ability to successfully open great new store locations in a very difficult year, and our 2020 stores are off to a great start,” COO and Co-President Jeff Shaw told analysts on the company’s Feb. 11 earnings call. “For 2021, we’re setting our capital expenditure guidance at $550 million to $650 million. We’ve also established a target of 165 to 175 new store openings.
“Our new store target is higher than our new store openings in 2020 but is still restrained by expected delays in regard to design and permitting approvals. We feel confident that we can achieve our target and open another strong class in new stores, but we will be dependent on local market conditions and municipal agencies for us to stay on our development schedule.”
After opening a new distribution facility in Lebanon, TN in 2020, O’Reilly has another major distribution project on the horizon for 2021. The company is working to complete and open a new DC in Horn Lake, MS — which is just south of Memphis — in the second quarter.
“This new DC will be approximately 580,000 square feet, and our initial plan is to build out capacity to service 250 stores — servicing over 220 stores at startup,” Shaw said. “The new DC will provide us with additional capacity for store growth in this region of the country and provide flexibility for the surrounding DCs while also accommodating a broader SKU capacity, increasing our breadth of hard-to-find parts and allowing us to provide an even higher level of service through the Memphis metropolitan area markets.”
Like many auto parts distributors, product availability was an issue for O’Reilly in 2020, but there is reason for optimism in 2021.
“One of the things that we elected to do years ago was to require our international suppliers to keep products stateside here in the U.S., and that helped us early in the pandemic. And, we were very aggressive with our ordering at the onset,” CEO and Co-President Greg Johnson said on the call. “That said, our supply chain was definitely pressured in 2020.
“We did have some suppliers that underperformed. We still have a handful of suppliers that are not performing at the level that we would like for them to, and we’re working very aggressively to ensure that they get back up to speed. Much of that is related to the pandemic, whether domestic or international.”
Johnson added that, generally, things have improved from a supply standpoint, and “we feel good about the very few suppliers that we have that are not performing well.”
Analysts with Jefferies LLC wrote in a Feb. 11 report that O’Reilly’s in-stocks appear intact.
“While the pandemic continues to stress many suppliers with manufacturing/distribution disruptions, we believe O’Reilly gained share during full-year 2020 at the expense of smaller WDs that lacked access to inventory,” Bret Jordan, Mark Jordan and Ethan Huntley noted in their report. “Despite some ongoing inventory challenges (we believe batteries are scarce), we expect O’Reilly will retain these recent share gains given the company’s best-in-class supply chain and priority position for inventory fill versus smaller peers.” — Marc Vincent
O’Reilly Automotive Reports Record Q4 Sales;
Comp-Store Sales Rose 11.2%
O’Reilly Automotive wrapped up 2020 on a strong note, reporting a record $392.95 million in fourth-quarter net income (up 20.9% year-over-year) and $1.47 billion in fourth-quarter gross profit (up 11.1%).
Gross margin, however, decreased 131 basis points to 52.0%, attributable to a reduced LIFO benefit from the impact of merchandise purchased in 2019 before tariff-related cost increases, as well as an expected dilution from Mayasa, which operates distribution centers in Mexico. CEO and Co-President Greg Johnson told analysts on O’Reilly’s Feb. 11 earnings call that both impacts are consistent with pressure experienced in the third quarter and in line with management’s expectations.
For the full year, O’Reilly’s gross margin was 52.4%.
SALES … Fourth-quarter sales came in at a record $2.83 billion — up 13.9% compared to the same period a year ago. Comparable-store sales growth was 11.2% on top of 4.4% growth a year ago, giving O’Reilly a two-year stack of +15.6%.
“From a cadence perspective, after starting the quarter on a strong trend — as noted on our last conference call — we saw sales moderate somewhat in November but finished December with the strongest performance of the quarter, as we saw our robust underlying sales trends supplemented by a benefit from cold-weather categories,” Johnson told analysts on the call. “The composition of our strong sales performance in the fourth quarter continued the trends we’ve experienced in the past two quarters with our DIY business being a stronger contributor during the quarter, driven by robust increases in both ticket count comps and average ticket comps. However, our professional business also performed well and strengthened as we progressed through the quarter.
“Our average ticket growth in the quarter and full-year 2020 exceeded our expectations despite a limited benefit from inflation, indicating a continued ability and willingness of our customers to work on larger projects. From a category standpoint, we continue to see broad-based, robust sales trends across all categories with very strong performance in our DIY out-front categories and batteries. Even in an environment of pressure on total miles driven as a result of the pandemic, we saw continued brisk sales in our undercar hard parts categories.”
PANDEMIC IMPACT … “In the early stages of the pandemic, government stimulus payments and enhanced unemployment benefits under the CARES Act provided immediate demand in our markets and helped shore up the U.S. consumer, even in the face of increased unemployment. However, the strength of demand in our industry stayed very strong throughout 2020,” Johnson said. “It is also clear that we’ve benefited from an increased willingness by DIY consumers to invest in repairing and maintaining their vehicles for a number of reasons.
“As we’ve seen repeatedly in previous economic cycles, the current economic uncertainty drives consumers to defer new car purchases and invest in keeping their existing vehicles on the road. The trend in 2020 for DIYers to take on larger jobs reflects this renewed focus on addressing underperformed maintenance. We also believe the strength we’ve seen in what has typically been more discretionary appearance and accessory categories reflects a shift in consumers allocating more of their time and spend to their vehicles.”
While acknowledging that some of these tailwinds to aftermarket demand may soften as the disruptions brought about by the pandemic abate, Johnson said management is encouraged by how resilient sales have been in the face of declines in miles driven, decreased employment and increased work-from-home arrangements.
GAINING SHARE … Johnson also told analysts that the company’s strong results in 2020 were driven, in part, by significant share gains. He pointed to the strength of O’Reilly’s business model and its employees’ efforts to keep stores open, stocked and supplied as an advantage that “differentiates us from the experience offered by some of our competitors and big box stores.”
“When you look at where we feel like we made the most progress from a share gain perspective in 2020, we feel like it was from some of the smaller WD players out there that maybe didn’t have the supply chain strength we did and the product availability that we had,” he stated, adding that management hopes that some of that business is sticky. “Hopefully, some of those customers — on both the professional and the retail side — continue to come into our stores.”
In terms of big-box retailers, Johnson pointed to the easier experience customers had shopping in an O’Reilly Auto Parts store. “I think some of the [big box] consumers — rather than walk to the back of the store to pick up a battery or wiper blades or what have you, fight that crowd, take that risk and then go home and install those products themselves — they came to O’Reilly, and what they saw is ‘Hey, we’ve got quality products; we’ve got competitive pricing; and, guess what? we’ll install those products for you there in the parking lot,” he told analysts on the call. “So, those customers that experienced that shift in 2020, we certainly hope a lot of that carries over in 2021 and beyond.”
INVENTORY … Inventory per store at the end of the fourth quarter stood at $650,000 — up 2.8% from the end of 2019. “We came into 2020 and had developed a plan to further enhance our store-level inventory position and build on our industry-leading parts availability and had targeted per-store inventory growth of 5%,” said Executive Vice President and CFO Tom McFall.
However, as O’Reilly moved through 2020, McFall said the company needed to refocus its priorities to support the strong sales volume and replenishment needs of its stores. “We had to delay some of the inventory initiatives we had planned and finished the year below our original plan at an inventory increase of 2.8%,” he told analysts on the call. “For 2021, we plan to complete our 2020 inventory expansion plan and expect per-store inventory to increase approximately 4%.”
Meanwhile, the company’s AP-to-inventory ratio ended the year at 114.5%, which was significantly higher than O’Reilly’s normal ratio. McFall said this was heavily influenced by extremely strong sales volumes and inventory turns over the last nine months of 2020. “We anticipate our AP-to-inventory ratio to come back off of these historic highs as we complete our inventory initiatives and our sales growth moderates,” he stated. “Our current expectation is to finish 2021 at a ratio of approximately 109%.”
GUIDANCE … Johnson said O’Reilly has experienced a strong start of 2021, with the continuation of “robust” sales volumes through January, implying that the current quarter’s comps are tracking at or above the 11.2% gain the company recorded for the full fourth quarter of 2020.
“On the professional side of our business, we expect solid performance throughout the year as we anticipate our current momentum to continue as miles driven continues to rebound. However, on the DIY side of the business, we face extremely difficult comparisons beginning in April, as we lap the biggest surge in demand in a short period of time in our company’s history,” he forecast. “As a result, we are guiding to a [full-year 2021] comparable-store sales range of -2% to flat, versus comparable-store sales growth of +10.9% in 2020, with the most significant pressure in that outlook expected for the second and third quarters as we lap the record volumes.”
For 2021, management expects O’Reilly to come through with total sales between $11.50 billion and $11.80 billion and gross margin of between 52.2% and 52.7%.
“Our outlook for 2021 for sales and gross margin includes a muted expectation for same-SKU inflation of 1%,” McFall said. “The pricing environment remains rational, and we expect that to continue.”
Analysts with Jefferies LLC wrote in a Feb. 11 report that, while O’Reilly’s record 2020 comps are a high bar, the team foresees a return to growth for O’Reilly in 2022.
“Given strong first-quarter trends, significant recent share gains and our belief that inflation could exceed O’Reilly’s 1% forecast, we expect full-year comps to be slightly above the guided range,” analysts Bret Jordan, Mark Jordan and Ethan Huntley wrote.
“We expect DIFM demand will continue to improve as mobility recovers, with second-half 2021 as a likely inflection point for more material demand recovery,” the Jefferies team stated in its report. “We also note that management’s guidance does not take into account additional government stimulus, which contributed to strong DIY demand through much of full-year 2020, while the ongoing economic uncertainty remains a tailwind for maintenance spend and challenging 2021 comps ultimately become a ‘low bar’ for 2022.”
BUYBACKS … During the fourth quarter ended Dec. 31, 2020, O’Reilly repurchased 2.20 million shares of its common stock at an average price per share of $451.90 for a total investment of $993 million.
O’Reilly has repurchased a total of 81.70 million shares of its common stock under its share repurchase program since the inception of the program in 2011 at an average price of $178.33 for a total aggregate investment of $14.57 billion.
The board of directors has increased the authorization amount under O’Reilly’s share repurchase program by an additional $1.00 billion, raising the aggregate authorization under the program to $15.75 billion. The additional $1.00-billion authorization is effective for a three-year period, beginning Feb. 10, 2021.
As of Feb. 11, 2021, the company had approximately $1.18 billion remaining under its current share repurchase authorizations. — Marc Vincent
Valvoline Quick Lubes Reports Strong Profit Growth Despite Cost Increases
For the fiscal first quarter ended Dec. 31, 2020, Valvoline’s Quick Lubes segment generated $43 million in operating income — an increase of 13.2% compared to the same period a year ago, attributable to 6.0% system-wide organic same-store sales growth as well as the addition of new service centers. Adjusted EBITDA increased 21% to $58 million, driven by same-store sales growth and unit additions with favorable channel and product mix helping to offset modest volume declines.
Segment gross profit margin decreased 2.3%, primarily related to higher costs associated with adding new and acquired shops to Quick Lubes’ company-owned system, particularly those within the early phases of their operation. Gross profit margin also was unfavorably impacted by unproductive labor and other costs related to COVID-19 protocols designed to protect employees and customers.
Total system-wide Quick Lubes sales rose 16.5% to $254 million, with company-owned locations coming through with $178 million in sales (up 25.4%) and franchised shops generating $76 million in sales (essentially flat year over year).
On a same-store basis, company-owned shops reported 6.1% sales growth on top of 6.3% growth a year ago for a two-year stack of +12.4%. Franchised locations generated 6.0% in same-store sales growth on top of 9.9% growth a year ago for a two-year stack of +15.9%.
According to management, same-store sales growth varied, with softer results in the middle of the quarter tied to increased COVID-19 pandemic restrictions and a related dip in miles driven, as well as what CEO Sam Mitchell called “an echo effect.”
During Valvoline’s Feb. 4 earnings call, Mitchell explained: “When we saw that dip back in the spring from the initial COVID-19 restrictions, those customers that would have delayed service, you would have expected them in that November time period. So, because it did happen in that April/May time period, we felt that impact in November. What was really encouraging is that we just bounced back very strong at the close of the quarter in December, and that strength has carried through into January.
“Now January has seen same-store sales in the low double-digit range, so we’re really feeling good about the Quick Lube business and how we’re continuing to take share. As far as where we’re taking share from, we believe we’re taking it from, not just competing Quick Lubes, but the broader DIFM market because of the convenient service model and the effectiveness of our marketing.”
During the three months ended Dec. 31, 2020, Valvoline acquired 81 service centers in single and multi-unit transactions — 27 former franchise locations converted to company-owned shops and 12 franchise-operated service center stores. The acquisitions included …
• 14 company-owned locations in Texas from Kent Lubrication Centers (doing business as Avis Lube) on Oct. 1.
• 21 former franchise shops converted to company-owned service centers in Kansas and Missouri from Westco Lube on Oct. 15.
• 12 company-owned locations in Idaho acquired from L&F Enterprises (doing business as Einstein’s Oilery) on Oct. 30.
• 27 Mister Oil Change Express shops across seven states (15 company-owned and 12 franchise-operated) acquired from Car Wash Partners on Dec. 11.
Valvoline’s Quick Lubes segment ended the quarter with 1,533 total company-owned and franchised shops — up 126 compared to the prior year.
For fiscal 2021, management expects to add 140 to 160 new shops, both company-owned, franchise and acquisitions. System-wide, same-store sales growth is forecast at 12% to 14%. — Marc Vincent
Supply Chain Issues Held Back Motorcar Parts’ Q3 Performance
For the fiscal third quarter ended Dec. 31, 2020, Motorcar Parts of America (MPA) reported strong bottom-line improvement, as net income rose from $865,000 a year ago to $8.47 million. However, net sales decreased by $3.01 million (or 2.4%) to $122.57 million because of a number of factors related to the coronavirus pandemic. This includes disruptions in supply chain and logistics services, which resulted in order delays of approximately $17 million.
Before we exit our discussion of the company’s topline performance, it’s worth noting that MPA’s products — which are sold predominantly in the United States — accounted for the following percentage of net sales …
• Rotating electrical products: 72% (down from 75% a year ago).
• Wheel hub products: 14% (unchanged).
• Brake-related products: 12% (up from 9% a year ago).
• Other products: 2% (unchanged)
MPA’s gross profit declined 12.4% to $24.24 million in the fiscal third quarter, while its gross margin slipped from 22.0% to 19.8% on a year-over-year basis, attributable to supply chain disruptions, logistics issues, higher freight costs, and pandemic-related costs for wages and personal protective equipment.
On the company’s Feb. 9 earnings call, Chairman, President and CEO Selwyn Joffe told analysts that MPA experienced solid product demand during the quarter and continues to experience solid product demand. “Even though challenges due to the pandemic, including global supply chain disruptions, resulted in order delays of approximately $17 million in the quarter, we believe these sales will be realized in the current fourth quarter and the first quarter of the new fiscal year,” Joffe said. “I might add that we have already experienced record January shipments.”
Among the items he cited as outside of the company’s immediate control are problems obtaining shipping containers, delays in products leaving ports and problems offloading boats, both in the United States and Mexico.
Joffe also discussed another issue MPA experienced during the quarter that — like supply chain disruptions — was not related to product demand. Joffe noted that December is the end of the year for a lot of MPA’s customers, which led to some inventory reductions, pushing orders from December into January.
“Our expectation is that the fourth quarter will benefit from some of the order delays of product shipments from the fiscal third quarter, with the remaining orders to be shipped in the new fiscal year beginning in April,” he told analysts on the call. “This is based on factors beyond our immediate control related to the pandemic.
“In short, while sales growth has been restrained by global supply chain challenges, our bottom-line performance is expected to continue to benefit from enhanced operating efficiencies as the pandemic situation improves, including increased caliper production volume along with lower interest rates and reduced net debt.” — Marc Vincent
New CEO Announced For Sylvania Automotive North America
Osram Sylvania has named Mark Savoy as the U.S. and Canada CEO for the Sylvania Automotive North American business. Savoy succeeds Joe Verbanic, who is retiring after 30 years with the company. Verbanic has held various leadership roles within the automotive business, including in finance, product marketing, OEM lighting system sales, and aftermarket sales and marketing.
Savoy has spent 22 of his 26 years with the company in a variety of roles in the U.S. automotive business. He has held positions in plant accounting, forecast and business planning, sales, and marketing. Most recently, Savoy was CFO.
In related news, Marko Haas has been appointed CFO, and Ben Soucy has been named director of plant operations for the Sylvania North American business.
As CFO, Haas is responsible for managing the financial activities for Sylvania. He has held various leadership positions with the company, including project lead for global efficiency, head of sales operations for pricing and contracts, and project manager for the formation of a joint venture in the automotive industry.
As the director of plant operations, Soucy oversees the daily operations of Sylvania’s Hillsboro, NH manufacturing facilities.
Energizer’s Auto Care Sales Rose 29.4%;
Formulations Business Acquired
Energizer Holdings’ auto care sales rose 29.4% to $101.80 million in the fiscal first quarter ended Dec. 31, 2020. Global organic auto care sales growth was 27.0%.
According to management, U.S. auto care sales grew more than 10% as a result of changes in consumer behavior, including a heightened focus on cleaning and disinfecting, as well as an increase in DIY activities. Of note, Energizer experienced strong auto care sales growth from the e-commerce, home center and international markets during the quarter.
In related news, Energizer in December acquired a small, North Carolina-based formulations business for $51.20 million that, to date, has primarily commercialized household disinfectants. The seller was Green Global Holdings.
“The robust portfolio of innovative cleaning, disinfecting and odor-eliminating formulations we have acquired is an extremely attractive addition to our R&D pipeline and is expected to enhance our leadership in auto care,” President and CEO Mark LaVigne told analysts on Energizer’s Feb. 8 earnings call.
“Our interest is taking their technology, infusing it into our auto care portfolio, and helping us lead and shape that into the future,” LaVigne said. “A lot of exciting opportunities there.”
Energizer’s auto care business specializes in automotive appearance, performance and freshener products, as well as refrigerants, that are sold under the Refresh Your Car!, California Scents, Driven, Bahama & Co., Lexol, Eagle One, Armor All, STP and A/C Pro brands.
Lucas Oil Announces Key Leadership Appointments
Lucas Oil Products has announced three key changes to its leadership team. Katie Lucas is now vice president of strategy and philanthropy, Megan Burakiewicz is now director of people operations and Dan Robinson is now vice president of motorsports operations.
Robinson is responsible for all operational aspects of three large-scale motorsports operations, including financial performance, operations, marketing, sponsorships, staffing, human resources, safety, scheduling and event planning. Over the course of more than a decade within Lucas Oil’s racing division, Robinson has overseen the growth of Lucas Oil Speedway as well as helped to raise the profile of both the Lucas Oil Pro Pulling League and the Lucas Oil Midwest Latemodel Racing Association.
Lucas oversees company strategy and business development initiatives, in addition to designing and implementing corporate social responsibility strategies with a concentration on philanthropy and employee engagement. Additionally, she handles internal and external communications with an eye toward ensuring alignment with corporate culture and business objectives.
Lucas brings more than 15 years of leadership, business development and strategic communication experience to the position. She started her career with the Indianapolis Colts in corporate sales and moved to Creative Marketing Solutions as director of business development before joining Lucas Oil.
Burakiewicz brings 14 years of business operations experience to the position, most recently as COO of NEI, a full-service environmental waste management company.
The Wheel Group Buys Tuff Stuff Overland
The Wheel Group (TWG), a new portfolio company of Wynnchurch Capital, has acquired Tuff Stuff Overland, a direct-to-consumer e-commerce platform for outdoor accessory products. Santa Ana, CA-based Tuff Stuff offers a variety of overland adventure gear, including rooftop tents, truck bed racks and awnings. “This acquisition will give our combined company the products to help continue our growth in the truck, SUV and car enthusiast markets,” said David Williams, CEO of TWG.
Based in Ontario, CA, TWG is a designer and distributor of branded aftermarket wheels, specialty tires and related accessories serving the truck, SUV and car markets.
Stifel advised the sellers. Financial terms of the Tuff Stuff transaction were not disclosed.
Racing Winning Brands Retains Latin America Rep Firm
Race Winning Brands (Mentor, OH) has retained ASAP Trading USA — a sales and marketing agency with offices in San Diego, CA and Lima Peru — to represent and promote three of its brands: Wiseco, Boostline and K1. ASAP Trading will serve as Racing Winning Brands’ exclusive authorized representative company for Mexico, Central America and South America.
Juan-Jose Rebaza established ASAP Trading with the sole purpose of serving the Latin American region. Rebaza, a racing and off-road enthusiast with an MBA in marketing, is based in San Diego, CA. He has more than 15 years of logistics expertise and experience developing business in the United States, Latin America, Europe, Australia and New Zealand.
Rebaza’s brother, Ricardo, manages ASAP Trading’s office in Lima, Peru. Ricardo Rebaza is a car and truck enthusiast, industrial engineer, and an off-road leader with more than 20 years of experience in logistics, customer service and technical support.
Spanesi Opens Mexico City Office, Appoints Area Manager For Mexico
Spanesi Americas, a collision repair equipment provider, has added Santiago Kneeland as area manager for Mexico, a newly created role that calls for Kneeland to lead the company’s business operations in-country. This comes as Spanesi’s offices in Mexico City have opened, with all sales, service and technical support initiatives coordinated locally.
“Recent changes in the [United States-Mexico-Canada Agreement (USMCA)] trade agreements went into effect on July 1, 2020. They have given Spanesi Americas strategic economic advantages in Mexico and provided us significant incentives to open offices,” said COO Timothy Morgan. “We look forward to continuing to expand business operations throughout the country.
“Santiago brings a broad understanding of automotive equipment offerings to his new role within the Spanesi family. I value his enthusiasm for our industry and look forward to supporting him as he represents the Spanesi brand in Mexico.”
Kneeland most recently was managing director of TecGo, an automotive aftermarket distribution company in Mexico that specialized in body shop tools and equipment. His industry background also includes time as director of sales – automotive for Dreyfus Global Trade, representing automotive and industrial tool and equipment companies.
Auto Care Association Announces More South America Product Catalog Data
The Auto Care Association has announced that two more countries are now available in its Vehicle Configuration Database (VCdb): Brazil and Argentina, adding to the already available Colombia and Chile data. The addition creates a “VCdb South America” database subscription that subscribers can load into their product information management system.
“North American companies can use this data to extend their business reach and access new markets,” said Bill Hanvey, president and CEO of the Auto Care Association. “Doing business in the Americas requires ACES and PIES and their related databases. Leveraging our infrastructure in the ACES and PIES universe will enable auto care industry companies to communicate effectively and consistently.”
Also available as a subscription are Spanish translations for the VCdb, Qdb, PCdb and PAdb databases. To subscribe to the Spanish translations, users must have a subscription to one of the VCdbs as well as the PAdb.
Shop-Ware Integrates With Mitchell 1 ProDemand
The Shop-Ware shop management system has announced a systems integration with Mitchell 1ProDemand. This allows shop owners who subscribe to ProDemand to access and use their Mitchell 1 services directly from the Shop-Ware platform. Additionally, subscribers to both systems will receive the following …
• Direct access to the ProDemand platform with automatic vehicle lookup from Shop-Ware RO, including interactive wiring diagrams, OEM repair information and “real world” fixes from one search.
• Population of Shop-Ware estimates and recommendations based on Mitchell 1 labor times, parts and fluids, using the latest Estimate Guide interface.
• Population of itemized inspections to Shop-Ware’s vehicle-specific checklists from Mitchell 1 factory maintenance.
• Support for both ProDemand and ShopKey Pro subscribers.
Shop Boss Debuts New Business Intelligence Dashboard
Shop Boss, provider of shop management technology for independent auto repair shops, has launched a business intelligence dashboard called Boss Board. The dashboard continuously updates so users can measure success and spot opportunities for growth quickly.
“Customers told us they want an easy, intuitive way to understand how their business is doing without sifting through metrics they don’t care about or spending lots of time pulling reports,” said Chris Boshaw, Shop Boss CEO and founder.
Key features of Boss Board include …
• Capability to create both detailed and summary reports.
• Customizable organization and reporting.
• Real-time monitoring.
• Charts and graphs.
ASA National Touts New Mobile App Benefit For Member Shops
ASA National has announced a partnership with AppFueled to provide member shops with the ability to build their own apps. Incentives being offering through the ASA partnership include …
• AppFueled will initially waive the $599 fee the company charges for app creation during its launch.
• AppFueled is offering $100 off its “White Glove Service” fee.
• AppFueled is offering free in-app, text-to-pay integration.
• AppFueled is waiving its first-month payment.
For more information on the AppFueled member benefit, visit calendly.com/stepper-appfueled/5min. ASA member shops that previously worked with MobileSoft will be able to continue with AppFueled, according to the association.
Federated Car Care Scholarships Now Available
Federated Auto Parts is once again awarding scholarships to the employees or children of Federated Car Care Centers purchasing from any Federated member. The scholarships are funded by Fisher Auto Parts in memory of Art Fisher, founder of Federated Auto Parts and the Federated Car Care program.
Administered by the University of the Aftermarket Foundation, the scholarships will be awarded for the 2021-‘22 academic year to the sons, daughters or employees of active Federated Car Care Centers attending two- and four-year accredited colleges; ASE/NATEF-certified post-secondary automotive, heavy-duty or collision technician training programs; and licensed and accredited vocational schools. Students graduating from high school in 2021 and heading to any of these post-secondary programs also are eligible.
The deadline to apply is March 31. Qualified candidates should specify Federated on their application when applying online at AutomotiveScholarships.com.
Lithia Motors Reports Double-Digit Customer-Pay Growth In December
Fortune 500 auto retailer Lithia Motors & Driveway (Medford, OR) saw its service, body and parts revenue rise 15.7% to $383.90 million in the fourth quarter of 2020. However, on a same-store basis, revenue decreased 2.8% to $310.90 million, attributable to a 2% increase in customer-pay work that was offset by a 7% decrease in warranty, 10% decline in wholesale parts and a 13% drop in body shop revenue.
“In December, these negative trends reversed course, and we saw single-digit increases in our service, body and parts, which was driven by double-digit growth in our highest-margin customer-pay work,” COO Chris Holzshu told analysts on the company’s Feb. 3 earnings call.
For the full quarter, service, body and parts gross margin grew 410 basis points to 50.2%.
Asbury Reports Choppy Service, Parts Business In Q4, Early Q1
For the fourth quarter of 2020, the Asbury Automotive Group saw its parts and service revenue rise 14.0% to $261.80 million, while gross profit increased 14.5% to $162.50 million and gross margin grew 30 basis points to 62.1%. However, on a same-store basis, parts and service revenue decreased 3.6% to $207.70 million and gross profit declined 4.2% to $133.10 million. A closer look shows that …
• Same-store customer-pay gross profit decreased 3.3% to $73.50 million.
• Same-store warranty gross profit declined 4.7% to $20.30 million.
• Same-store wholesale parts gross profit fell 5.3% to $5.40 million.
“Although our parts and service revenue decreased in the quarter, our business has improved from the lows in April,” Dan Clara, senior vice president of operations, said during Asbury’s Feb. 2 earnings call. “But, the recovery continues to be choppy due to the pandemic.”
President and CEO David Hult told analysts that the volatility varied by month and by market. “In the fourth quarter, we went negative in parts and service in November, and we came back positive in December,” Hult said on the call. “And, we started January off with a little bit more volatility.”
Duluth, GA-based Asbury operates 91 dealerships, consisting of 112 franchises representing 31 domestic and foreign vehicle brands. The company also has 25 collision repair centers.
Group 1 Automotive’s U.S. Customer-Pay Gross Profit Increased In Q4
Group 1 Automotive reported $361.20 million in consolidated parts and service revenue for the fourth quarter of 2020 — a decrease of 4.8% compared to the same period a year ago, attributable to the effects of coronavirus pandemic restrictions on business in certain markets as well as lower overall vehicle miles traveled. On a same-store basis, the company’s consolidated parts and service revenue slid 4.7%.
Consolidated parts and service gross profit decreased 3.8% to $196.60 million in the fourth quarter of 2020, yet gross margin increased from 53.9% to 54.4% on a year-over-year basis.
U.S. parts and service revenue declined 4.8% to $297.40 million for the quarter, with same-store revenue down 4.9%. Same-store U.S. gross profit decreased 4.9% to $159.90 million because of a decline in warranty and collision work. However, customer-pay gross profit did increase versus the fourth quarter of last year. U.S. same-store parts and service gross margin came in at 54.1%, which was unchanged year-over-year.
Houston-based Group 1 owns and operates 182 automotive dealerships (236 franchises) and 49 collision centers in the United States, the United Kingdom and Brazil.
Location: Mid-Atlantic Region — Candidate will report to the Executive Vice President of Merchandising and will be responsible for increasing sales, maintaining and improving profitability and market share for assigned product lines and/or categories, and … (more) … Click here to find out more.
Location: Mid-Atlantic Region — Candidate will report to the Executive Vice President of Merchandising and will be responsible for increasing sales, maintaining and improving profitability and market share for assigned product lines and/or categories … (more) … Click here to find out more.
Direct, manage and coordinate a logistics operation incl. budget responsibility, focusing on all topics related to supplier logistics, intra-logistics and customer logistics. … (more) … Click here to find out more.
Expert for the highly complex product portfolio (e.g. competition, trends, user needs, Contact Person for major customers and Work out possible strategic opportunities with them). … (more) … Click here to find out more.
Working under the guidance of Director of Product Management will work to assure high level of ACES/PIES data quality, distribution and analysis of data to help company’s business profitably grow. … (more) … Click here to find out more.
FinditParts Adds Executive VP
FinditParts, a supplier of heavy-duty truck and trailer parts online, has added David Olsen as its executive vice president, where he will be involved in strategy development and deployment, sales, technical services, and supplier relationships. Olsen was the CEO of TransAxle LLC, a drive train components remanufacturer. He also has held C-level positions with Workhorse and UpTime Parts.
EnPro Realigns Its Business
EnPro Industries of Charlotte has realigned its reporting segments in an attempt to enhance transparency and collaboration across the company. The move is part of management’s ongoing portfolio reshaping strategy.
“Over the past year and a half, EnPro has executed several strategic initiatives on our journey to reshape the business in support of profitable growth,” CEO Marvin Riley said in an announcement dated Feb. 4. “Through the acquisitions of Alluxa Inc., LeanTeq Co. Ltd. and The Aseptic Group — and the divestitures of Stemco Air Springs, several Stemco heavy-duty truck product lines, GGB bushing blocks and Fairbanks Morse businesses — we are positioning the company for growth within the semiconductor, life sciences and other technology-enabled markets.”
The three new reportable segments and their mission statements are …
• Sealing Technologies — “safeguarding critical environments” — composed of the Garlock, Stemco and Technetics (excluding semiconductor).
• Advanced Surface Technologies — “advancing precision services and solutions” — composed of the LeanTeq, Alluxa and Technetics semiconductor businesses.
• Engineered Materials — “enabling high-performance polymer applications” — composed of the GGB and CPI businesses.
For more information about EnPro, its new segments and its brands, visit enproindustries.com.
MACS Elects 2021 Officers
The board of directors of the Mobile Air Climate Systems Association (MACS) has elected the following officers for 2021 …
• Chairman and CEO: Andy Fiffick of Rad Air Complete Car Care in Cleveland.
• Vice Chairman: Steve Sunday of Sunair in Fort Worth, TX.
• Treasurer: Caroline Marks Acebedo of Marks Air in Tampa.
• Secretary: Jim Atkinson of the Car Repair Company in Scottsdale, AZ.
• Past Chairman: Jim Hittman of Badger Truck Refrigeration in Eau Claire, WI.
The MACS board of directors has 13 members: four members representing service and repair shops, four members representing distribution, four members representing manufacturing and a past chairman.
Fiffick, Marks Acebedo, Atkinson and Tim Iezzi of Iezzi’s Auto Service in Reading, PA are the service and repair representatives.
Tray Carlisle of Carlisle Air & Automotive in San Antonio; Troy Farr of 1-800-Radiator in West Jordan, UT; Mark Schmitz of Global Parts Distributors in Macon, GA; and Sunday represent distributor members.
Ryan Baker of Kenway Engineering in Sherburn, MN; Charlie Roberts of T/CCI Manufacturing in Frisco, TX; Al Leupold of Bergstrom in Rockford, IL; and Tim Wagaman of Robinair in Warren, MI represent manufacturers.
Each year, half of the board is up for election on two-year terms.
People Watching 2/15/21
• Dana Inc. has hired Chris Clark as its senior vice president of global operations. Clark joins Dana from Yanfeng Automotive Interiors, where he was vice president of operations, including leading manufacturing operations and quality. Prior to that, he was vice president of operations for Faurecia.
• Shelbie Huffman has joined Kooks Headers & Exhaust as a marketing coordinator. Huffman previously was a marketing coordinator for cbdMD and a marketing specialist with Progressive Furniture.
News Briefs 2/15/21
• Beginning Feb. 15, Arity vehicle miles traveled (VMT) data will be accessible on a weekly basis to all Auto Care Association members via the association’s TrendLens platform at no charge during the “Market View” 60-day trial period. Arity’s VMT information is available eight weeks sooner than the U.S. Department of Transportation’s reporting schedule.
• CarParts.com’s new 210,000-square-foot distribution center in Grand Prairie, TX and has hired its 200th person. The facility has shipped more than 100,000 packages since it began operations in the fourth quarter of 2020, according to CarParts.com.
• CarParts.com will be the presenting sponsor of season two of the Two Guys Garage Podcast, which debuted Jan. 19. Brenton Productions produces the podcast by separately from the Two Guys Garage TV series.
• Mitchell 1 has integrated the Honda and Acura OEM parts catalog with its Manager SE shop management system, becoming the first OEM catalog to be integrated with the system. The integration makes Genuine Honda and Acura parts available direct from participating local dealerships and equips users to order these parts from within Manager SE.
• CRC Industries has joined the TechForce Foundation’s workforce development campaign, which is designed to inspire, connect and support the next generation of transportation technicians.
• New Ford Tech has transferred management of scholarships for its Automotive Student Service Education Training (ASSET) program to the TechForce Foundation.
• Line-X is partnering with Lucas Oil Products in sponsoring the Lucas Oil Late Model Dirt Series and Lucas Oil Pro Pulling League for the 2021 season. Line-X will be showcased at Team Lucas racing events across the country, on-site at the races, through digital channels, TV spots and more.
• Toth Automotive has joined HDA Truck Pride with its Lansing, IL location. Toth Automotive has provided heavy-duty parts to the Chicago area since 1963. In addition to parts sales, Toth Automotive rebuilds transmissions, differentials, fan clutches and more.
• Alliance Parts, a brand of Daimler Trucks North America (DTNA), has added a new standalone store with Fyda Freightliner in Columbus, Ohio. Alliance retail locations primarily stock Alliance Parts and Detroit Reman products but can be used as order-pickup locations for the full offering of DTNA Genuine and Premier parts.
• Champion Oil has upgraded its distributor and enthusiast website, championbrands.com, to include SDS and data sheets, technical bulletins, a “where to buy” tool, and more.
• Lordco Auto Parts has revamped its website, lordco.com.
Financial Briefs 2/15/21
• Illinois Tool Works’ automotive aftermarket business reported organic growth of 5% for the fourth quarter of 2020.
• Meritor’s Aftermarket & Industrial sales declined 14.9% to $234 million in the fiscal first quarter ended Dec. 31, 2020 (down 17.5 in the United States), primarily because of the termination of the WABCO distribution arrangement.
• Worksport Ltd. announced on Feb. 10 that its “Regulation A” public offering has officially been over-subscribed, having fully raised its target $4 million. According to the company, the capital raised will be used to expedite the development and subsequent launch of Worksport’s TerraVis solar tonneau cover system and its TerraVis COR mobile energy storage system. Additionally, Worksport now can also expand its conventional tonneau cover products for light-duty trucks as well as consider acquisitions and partnerships as a means of future growth.
Event & Trade Show Briefs 2/15/21
• The Auto-Wares Group of Companies held its annual Tech Expo as a virtual event Feb. 11-13. The expo offers training and networking for automotive service and parts professionals. The 2021 event included 44 seminars and a digital exhibitor booth show with more than 100 suppliers. Training replays are available to attendees through May 10.
• GCommerce Inc. will host a webinar on Tuesday, Feb. 16 addressing current threats and intrusion methods that bad actors are employing to infiltrate computing environments and critical business data. Information security specialist Ben Hall of Pratum and GCommerce Chief Technology Officer Jason Popillion will present. Click here to register for this cybersecurity webinar.
• The Auto Care Association’s Manufacturers’ Representatives and Market Intelligence communities will host a webinar Wednesday, Feb. 17, to address key issues facing the industry in 2021 and what these issues mean for individual businesses. Topics that will be addressed include the global supply chain, consumer behavior and related repair trends, and “Right to Repair” and the road ahead as the issue moves to Congress. Click here to register for the Business Outlook webinar.
• Organizers of INA PAACE Automechanika Mexico City will host a free webinar Wednesday, Feb. 17 on the future of the automotive industry and the effects of the new U.S. presidency. Among the scheduled speakers is Bill Fraymoyer, vice president of public policy at MEMA. Click here to register for the Mexico & the New U.S. Government webinar.
• All of MEMA’s divisions plan to come together for a virtual conference March 5 on the importance of diversity, equity and inclusion (DEI) in the vehicle supplier industry. CEOs, business leaders, human resources professionals, talent acquisition and retention personnel, and others are encouraged to attend. Click here to register for the DEI online event.
• The Automotive Service Association (ASA) plans to host a virtual ASA United X50 Conference & Expo April 30 to May 1. The online event will include training, networking, panel discussions and breakout sessions.


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Milk producer and distributor Country Delight has raised $25 million (Rs 185 crore) in its Series C round of funding led by Elevation Capital (formerly SAIF Partners).
The capital will be primarily used by Country Delight to expand its product portfolio. It will soon launch a broader set of food essentials such as fruit & vegetables, cold-pressed edible oils, wheat, batters, pulses, spices, pickles, and jams.
"The company has a truly unique business model and is one of the few consumer businesses in India with phenomenal retention metrics. We are super excited to partner with them in this journey of creating India's most-loved pure & fresh daily essentials brand," said Deepak Gaur, partner at Elevation Capital.
The company had also earlier this year raised fresh funding from Matrix Partners India and Orios Venture Partners.
Country Delight, operated by Beejapuri Dairy Pvt. Ltd, was founded by Chakradhar Gade and Nitin Kaushal in 2013.
The firm offers delivery of fresh milk, paneer, curd, and ghee to homes via subscription model. It sources its products directly from dairy farms and currently caters to customers in Delhi-NCR, Mumbai and Pune. It claims to be serving nearly 1.5 lakh households across key cities in India.
The company's net sales more than tripled to Rs 65 crore in the fiscal ended 31 March 2019, according to VCCEdge, the research arm of Mosaic Digital. Its earnings before net interest, taxes and depreciation and amortization (EBITDA) loss expanded to Rs 14 crore for the year ended 31 March 2019 from Rs 2 crore in the previous fiscal.
Country Delight competes with the likes of DailyNinja, BBDaily and Milkbasket in the daily subscription-based segment. The space has seen consolidation in the recent past.
It was also in talks to buy DailyNinja's peer Milkbasket, which recently raised a small round of funding from Inflection Point Ventures.

domain: news


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Although Honda has put the all-new CRV on sale in the European markets, there’s a long way to go before it makes to our shores. Given that the Indian market is likely to get the fully imported European-spec model, we expect the new CRV to arrive in India by 2013.
Honda India, meanwhile, is looking for a serious rollout; having already revealed its plans to introduce it’s first-ever diesel offering in the form of an all new Brio-based sedan, the carmaker is looking to take the Indian market by storm and make for up for the lost ground of recent years, especially since the advent of increasing number of diesel powered cars from nearly every mainstream carmaker in India.
Honda India also aims to revive its position in the premium auto space, which is why the company is said to launch the all-new, fourth-gen CRV in India. As can be seen from these images snapped by one of the readers of Motorbash, Honda is already out testing the car before it is launched sometime next year.
The fourth-gen CRV gets the same 2.4-litre engine mated to a five-speed automatic, but produces 20PS more thanks to better compression and a few other enhancements for slightly better economy. As for the diesel range, the Europe-spec model carries forward the 2-litre, i-DTEC diesel engine from the current line-up and adds a new 1.6-litre turbo-diesel to the mix. We hope that the diesel versions are being considered for the India-bound CRV too. Though the current CR-V sold in India did come with a diesel option in Europe, the engine was considered unsuitable for our market due to the adulterated quality of diesel sold in India. With the fourth-gen CRV, we hope Honda finds a solution to this in time for the launch of the new CRV.
Image source: Motorbash


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|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||24.04 - 24.20|
|52 Week Range||17.90 - 29.82|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||21.72|
|Forward Dividend & Yield||0.31 (1.54%)|
|1y Target Est||28.20|
Today we are going to look at Infineon Technologies AG (ETR:IFX) to see whether it might be an attractive investment prospect. Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into h...
Enphase Energy, Inc. (ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, today announced that the Company has entered into a multi-year supply agreement with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) for its power transistors developed using CoolMOS™ C7 Gold (G7) superjunction MOSFET technology. The agreement is expected to provide Enphase with an increased supply of high-voltage power transistors starting in the second half of 2019. The high demand for power transistors from the electric vehicle (EV) industry has created industry-wide shortages, impacting Enphase’s revenue and gross margin in the past two quarters.
Germany’s painful industrial slump shows little sign of ending, with factory orders plunging the most in a decade in February, led by a drop in exports. The bad news from the Economy Ministry was followed just hours later by new forecasts for 2019 that predicted the weakest growth in six years. Trade tensions and Brexit woes are two factors likely behind the slump, while there’s also weaker demand, particularly in China, for cars and other German products.
The accelerated pace could see TSMC running at full capacity by the third quarter, the Digitimes reported, suggesting industry forecasts of a second half turnaround in global chip demand could prove accurate. AMD shares were marked 5.9% higher Wednesday at $28.31 each for the key TSMC client. Micron, meanwhile, was seen 4.15% higher at $44.20 each.
Infineon trims outlook on weak China end market. Macro woes make us anxious about near-term results of NXP Semiconductors (NXPI), Applied Materials (AMAT), Skyworks (SWKS) & Cirrus Logic (CRUS).
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Let's talk about the popular Infineon Technologies AG (ETR:IFX). The company's shares...
shares extended declines Thursday after Europe's biggest chipmaker cautioned that 2019 profits would likely fall short of analysts' forecasts thanks in part to weakness in China's sputtering auto market. Infineon said sales for its fiscal year, which ends in September, would likely rise 5.2% from the same period last year to around €8 billion, down from a prior forecast of a 9% advance. Infineon said vehicle sales in China, which represent around a fifth of group revenues, decelerated quickly in February, "causing dealer inventories to increase sharply" and pressuring profit margins, which it things will narrow by 150 basis points to 16%.
MUNICH, March 28, 2019 /PRNewswire/ -- Infineon Technologies AG (FSE: IFX) (OTCQX: IFNNY) will present the world's first Trusted Platform Module (TPM) specifically for industrial applications at this year's Hannover Messe (Hannover, Germany, 1-5 April 2019). The OPTIGA™ TPM SLM 9670 protects the integrity and identity of industrial PCs, servers, industrial controllers or edge gateways. It controls access to sensitive data in key positions in a connected, automated factory as well as at the interface to the cloud.
Infineon Technologies “now expects a lower-than-normal seasonal revenue increase in the second half of the 2019 fiscal year.” The firm’s outlook sent a chill through the sector.
“A number of end-markets continue to be sluggish,” Infineon said in a statement Wednesday. Infineon expects to grow sales 5.3 percent to 8 billion euros ($9 billion), plus or minus 2 percent. It’s the second time the company has revised its forecast in less than two months after saying in February it expected sales growth of 9 percent.
Infineon (IFFNY) unveils XDPE132G5C and IR35223 multi-phase configurable PWM controllers to support advanced compute chips with enhanced performance.
German semiconductor manufacturer Infineon Technologies on Thursday appointed Sven Schneider as its new finance chief, a move that comes as the industry is suffering a downturn.
Infineon Technologies , the German chipmaker, has named Sven Schneider as its next chief financial officer, replacing Dominik Asam who is moving to aircraft maker Airbus. Schneider, hired on a three-year ...
German chipmaker Infineon Technologies aims to bring in outgoing Voestalpine Chief Executive Wolfgang Eder as its chairman in August, replacing Eckart Suenner earlier than expected. Eder, who was elected to the Infineon supervisory board last year with a view of taking over as chair in the medium term, is stepping down as Voestalpine CEO in July.
With Infineon's REAL3™ Image Sensor Chip, LG's Latest Flagship Offers Enhanced Security and Depth Measuring on Selfie Camera ENGLEWOOD CLIFFS, N.J. , Feb. 6, 2019 /PRNewswire/ -- LG Electronics (LG) and ...
Chipmaker Infineon Technologies cut its forecast for full-year revenue growth on Tuesday to the bottom of its earlier range, blaming difficult markets, but expects a better second half as demand rebounds and inventories are worked off. Infineon is a leading maker of high-performance power chips used in cars, server farms, smartphones and wind turbines. Trimming his forecast for revenue growth in the current year to September to 9 percent, CEO Reinhard Ploss said Infineon faced weakness in its automotive markets, datacentre servers and in phones.
Infineon said Tuesday it sees revenue growth at the lower end of the forecast range in the 2019 financial year, and plans to reduce investments. AMS, which supplies sensors to companies including Apple, said it would suspend its cash-dividend policy and scrap numerical year-ahead guidance as its first-quarter revenue forecast missed analysts’ estimates. Nordic Semiconductor ASA, a wireless chip company, also reported a loss wider than analyst estimates.
Infineon warned that it now expects fiscal 2019 revenue growth to come in at the lower end of its forecast, despite posting a rise in first-quarter net income.


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The Loon Lake Park Association has issued a news alert to their members about a public hearing scheduled for Tuesday (Feb. 23) by the Town of Chester (N.Y.) Planning Board for an application to add eight new RV sites a the Loon Lake RV Park, the North Country Gazette reported.
The applicant for site plan review is Tim Beadnell of Loon Lake RV Park.
It’s a controversial matter which has been before the planning board since last fall.
The property was purchased by Anthony Beadnell and Gary Carsten from the late Dell Kingsley. Tim Beadnell’s request for the sites and a new camp store was approved, but the approval was overturned for procedural reasons. The camp store again received approval in December.
For the full story, click here.


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According to Gerus, the increases will be made in five steps from April 1, 2015, and be completed by March 1, 2017.
By March 2017 the consumers will be divided into two groups: those consuming a volume of up to 100 kW\h per month, and those consuming a volume of over 100 kW\h per month.
The price of electricity for the first group of consumers in March 2017 will be UAH 0.9 per kW\h, while for the second group it will be UAH 1.68 per kW\h.
At the same time, during the transition period, from 2015 to 2017, consumers will be divided into three groups – those with a minimum volume of consumption up to 100 kW\h per month, a group with consumption from 100 kW\h to 600 kW\h and a group consuming more than 600 kW\h per month.
In addition, according to Gerus, the minimum tariff for electricity for the population will be increased by 19%, up to UAH 0.37 per kW\h from April 1, 2015. This minimum rate will be applied to households with the volume of consumption up to 100 kW\h per month. Households with a volume of consumption from 100 to 600 kW\h per month will pay UAH 0.63 per kW\h. Thus, they will have an increase of 50%. Households with the volume of consumption of more than 600 kW\h per month will pay UAH 1.40 per kW\h from April 1, 2015. They will have an increase of 5%.
The members of the National Commission for state energy and public utilities regulation said that the increased electricity tariffs for the population are to be applied only when consumption reaches 101 kW\h.
"That means that the population of Ukraine is guaranteed to receive 100 kW\h of electricity per month at the lowest price," the report says.
According to the department, the final decision on the program of increase in electricity tariffs for the population will be taken on February 26, before the end of the day.


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Just a behind the scenes sneak peak of last weeks shoot 🙂 Many surprises await to happen this fall and we are excited to share them with you 🙂
For more updates and news follow us on:
Petra Middelthon, the executive fashion editor of ELLE Norway is sharing her priceless holiday tips with you by.
We are very proud seeing fashion influencers wearing our bags because of the heavy stream of creativity they expose us to.
The Style Devil manages to translate our Metallic Pink Luini into her every signature style outfit and we LOVE it!


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Two IPOs will be open for subscription this week. Details here
Two companies plan to launch their initial public offerings (IPOs) this week, namely auto component maker Sansera Engineering and Markoline Traffic Controls Limited. Sansera Engineering’s IPO will begin on September 14, while that of Markoline Traffic Controls is scheduled to launch on September 15, and the two companies’ three-day issuance will end on September 16 and 20, respectively.
IPO Details –
Sansera Engineering: The price range for the IPO of the Bengaluru-based auto components maker has been set at ??734-744 per share. The public offering (IPO) is entirely an offer for sale (OFS) of 17,244,328 shares by the promoters and existing shareholders.
Sansera Engineering is an integrated manufacturer led by the engineering of complex and critical precision components in the automotive and non-automotive industries. The company is a leading manufacturer of connecting rods, crankshafts, rocker arms and shift forks for two-wheelers as well as passenger vehicles.
Markoline traffic controls: Markoline Traffic Controls Limited is a leading motorway operation and maintenance company. According to the prospectus filed with the ESB, 51,28,000 equity shares are offered at a price of ??78 per share (including the premium of ??68 per share).
The company plans to use the majority of the net proceeds from the issuance to strengthen the company’s capital base and will be used for working capital requirements.
Markoline Traffic Controls limited started commercial activities in 2002, started with road marking and later in 2009, considered and attempted the business opportunity of operation and maintenance of road projects.
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Gears of War: Judgment
Gears of War: Judgment will be available for Xbox 360 on March 19, 2013 for $59.99. Gamers can get into the action even more with the VIP Season Pass for Judgment for 1600 MS Points. This pass will features tons of content which includes additional maps, modes and much more!
Gears of War: Judgment will release on March 19, 2013 for consoles. Sumthing Else Music Works has released further details on the soundtrack which will have you jamming out to the game's official music long after you stop playing.
Gears of War Judgment will arrive on Xbox 360 on March 19, 2013. A new trailer has been released to showcase some of the intense, action-packed fun to come! Read on to watch the new trailer and to learn more.
Gears of War: Judgment will release on March 19, 2013. A new video has been released that will show fans the essentials of OverRun's new class-based gameplay which is narrated by Damon Baird himself!
Microsoft confirmed Gears of War: Judgment at today's E3 press conference. The video shows the character Damon Baird fighting for his life against a group of Locusts with his trusty Lancer weapon. Gears of War: Judgment is to release in 2013.


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Intl trade fair in services: Medical exhibitors exchange tech, knowledge ahead of event
By Chen Jiaye
Medical exhibitors have gathered in Beijing ahead of the China International Fair for Trade in Services (CIFTIS).
Firms specializing in Traditional Chinese Medicine (TCM) have exchanged knowledge and ideas on the use of technology, global supply chains, and how TCM has contributed to the fight against COVID-19.
Over 100 medical companies are set to join this year's exhibition, including Chinese Medical Sciences, the Beijing University of Chinese Medicine and the Beijing Tong Ren Tang Group.
Activities will be held both on-site and virtually. The 2020 CIFTIS will become an important opportunity to promote the international development of Chinese medicine and better serve all mankind.
TCM services will make full use of this high-standard international platform to promote this fair.
"During the 2020 CIFTIS, the Beijing Municipal Health Commission will hold a forum with the International Health Exchange and Cooperation Center for talks on cooperation and trade. The theme will be 'gathering the world's wisdom in epidemic prevention and fighting global disease,'" said Zheng Jinpu, inspector of the Beijing Municipal Health Commission.
Yin Weidong, CEO from Sinovac Biotech Ltd., said, "Our vaccines were mainly sold locally in the past few years. We will take advantage of COVID-19 vaccine development to offer our technology and products to the world for future use."


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Saturday, April 19, 2014
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Toleff Olson packs washed mussels at Bangs Island Mussels off Clapboard Island on Wednesday. The floating farm – including an array of “little tips” from Olson, who started the farm 10 years ago – is on the market; asking price, $275,000.
Tim Greenway/Staff Photographer
The sorted mussels are then fed into a debearding machine. They emerge clean and ready for market.
The farmers then wash down all evidence of mussels from the decks so as not to attract annoying seagulls, one of Olson’s little tips.
While Olson and Dobbins will reveal financial details of the operation to serious buyers only, they say the farm makes enough to support two families.
Consummate salesmen, the two say demand for mussels began to skyrocket once the stock market turned around. Last year, they doubled their sales, said Olson, as he served visitors a platter of mussels with curried mayonnaise and a bowlful of his sea kelp slaw.
Olson said he takes great pride in the reputation of his mussels and wants that reputation to continue under the new owners. The Bangs Island mussels have national brand recognition and have been featured on the Martha Stewart show, Bon Appetit and Gourmet magazines.
Mussel farming on suspended ropes is considered an environmentally benign form of aquaculture compared to finfish farming, which can pollute and cause other environmental problems, another positive selling point, said Scott Balfour, broker for Olson’s mussel business.
Balfour said while he doesn’t have a lot of experience selling mussel farms – this is his first – the demand for locally produced and organic food should make the Bangs Island Mussels an attractive business.
Staff Writer Beth Quimby can be contacted at 791-6363 or at:


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Vodafone India has acquired You Broadband, a regional internet service provider (ISP), for Rs 350 to Rs 400 crore, Hindu Business Line reported.
Rothschild India and ICICI Securities are the advisors for the deal. There is no confirmation from Vodafone and You Broadband. The report says an official announcement is expected shortly.
You Broadband has more than 3,000 km of optic fiber cable and 6,000 km of last mile co-axial cable network and employs about 1,400 people.
Founded in 2001, You Broadband has 5 lakh subscribers as on January 2016. The Mumbai based company is a category A ISP and offers high-speed internet and voice services to home users, small businesses and corporate customers across 12 cities, including Hyderabad, Bengaluru, Chennai, Pune and Surat.
The leading wired broadband service providers in India are BSNL with 9.9 million connections, while Bharti Airtel has 1.68 million, MTNL has 1.12 million, Atria Convergence Technologies has 0.89 million and YOU Broadband has 0.51 million broadband subscribers as of January 2016, according to TRAI.
Set up by British Gas as Iqara Broadband, the privately held YOU Broadband has financial backing of funds advised by TRG Management.
At present, Vodafone India is not a major player in the Indian 4G broadband space. After investing $20 billion, Reliance Jio Infocomm is expected to launch 4G before the year-end. Bharti Airtel and Idea Cellular are already making huge investments in 4G networks.
Bharti Airtel recently announced spectrum deals with Aircel and Videocon Telecom. The Sunil Mittal promoted company has also acquired Qualcomm’s 4G license in India. Reliance Jio and Reliance Communications have 4G spectrum deals.
Vodafone India needs to expand in the Indian broadband space. It is also building its presence in the domestic enterprise communications market in a big way. Since You Broadband can be a triple play service provider, investment in broadband space will make sense for Vodafone to improve ARPU in India.
Vodafone in broadband
Vodafone earlier said its fixed service revenue grew 3.7 percent in Q3 fiscal 016 (3.1 percent in Q2), driven by strong consumer broadband customer growth, particularly in high speed fiber and cable services which grew by 379,000 to 5.9 million in the third quarter.
Vodafone added 97,000 fixed broadband customers in the quarter in AMAP region.
Vodafone has 13 million broadband customers globally. Out of this, Vodafone has 12 million broadband customers and 9.4 million TV customers in Europe.


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A week after the Federation of Automobile Dealers Association (FADA) flagged off declining two-wheeler sales - down 7.97% to 11,25,405 units last month compared to the year-ago period - top manufacturers in the space are reportedly now cutting back their monthly production to handle the piled-up inventory.
Hero MotoCorp, Honda Motorcycle and Scooter India (HMSI) and Royal Enfield have all decided to cut back their monthly production by around 15% from the current month till May, The Financial Express reported, since two-wheeler dealers are in a high stock situation. Companies generally align production to demand because once the inventory with dealers crosses the normal mark, they run short of space to store the products.
In fact, inventory levels have reached 80-90 days of stock against the normal level of 20-30 days. Nikunj Sanghi, director, international affairs at FADA, told the daily that it has been communicated to the manufacturers that with inventories reaching alarming levels, they expect production to be recalibrated over the next few months. The dip in two-wheeler sales is not a temporary phase either. Sales have been sluggish for the past six months. Moreover, between April and February of the current fiscal sales grew by under 7% against 14% in the same period in FY18.
Two-wheeler market leader Hero MotoCorp, which reported 1.96% decline in total sales in February, has seen production dip since December. While output remained flat year-on-year (y-o-y) in December, it dipped 13.54% y-o-y in January. Production in February also reportedly remained flat.
Similarly, HMSI witnessed a decline of 11.66% last month in terms of motorcycle sales while scooter sales plunged 19%. With inventory levels going up to over 60 days, the company had to curtail production in December. Its output dropped 12.64% y-o-y and 14.93% y-o-y in January and February, respectively. It is expected to drop further to 15% in March.
Retail sales of passenger vehicles (PV) aren't faring any better. According to FADA, sales in February declined 8.25% to 2,15,276 units compared with the same period last year, hit by lower offtake by end customers. "After a month of spike in PV sales in January which was largely due to year-end stock clearance getting extended and a few new launches which generated some excitement, the industry is once again witnessing downward trend as February turned out to be one of the slowest months for auto retail during this financial year," FADA president Ashish Harsharaj Kale said earlier this month.
According to SIAM, February witnessed the seventh decline in eight months. "With people postponing discretionary spends like buying cars ahead of the elections, coupled with the current subdued sentiments, it was unlikely that March sales will be high," said SIAM Director General Vishnu Mathur. "So we are more or less looking to end the year at around 3% growth which we have witnessed so far." This is among the slowest growth rates witnessed in the last four years. In the beginning of the fiscal, SIAM had projected 8-10% growth for PV sales but it was revised to around 6% after dip in sales from the third quarter onwards.
In the bargain, companies like Maruti Suzuki India (MSI), Mahindra and Mahindra and Tata Motors have reportedly cut productions. The dealer inventory for PVs is around 50-60 days against 20-35 days. MSI, for instance, is cutting its monthly production by around 20%. A source in the know told the daily that M&M will also correct the production of some models starting this month, barring its newly-launched XUV300, which has seen substantial bookings.
With PTI inputs


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At first I thought, why do I need amazon on my tv? But then, I thought, of course I need amazon on my tv! It’s actually pretty handy, and I’m not talking about just ordering shows or movies. If you just want to look at something quickly, there’s no need to fire up the computer or tablet or look for your phone (which I can never find quickly). If you want to show someone a product, poof, it’s on the tv which is so much easier to look at than my tiny phone screen! Also, if you use your alexa voice control, it’s all hand free. Admittedly, mine often has to be told a couple of times and the transition isn’t seemless by any means, but in all, it works out pretty well when I remember it’s available!
Go digital. Even though you’re not shopping online, embracing technology can help you save. “Sign up for email alerts from your favorite retailers and follow them on Facebook and Instagram for exclusive offers,” says Freeman. Last year, for example, Walmart promoted hourly manager specials to their Facebook fans, points out Andrea Woroch, a consumer and money saving expert.
In 2013, Amazon secured a US$600 million contract with the CIA, which poses a potential conflict of interest involving the Bezos-owned The Washington Post and his newspaper's coverage of the CIA. Kate Martin, director of the Center for National Security Studies, said, "It's a serious potential conflict of interest for a major newspaper like The Washington Post to have a contractual relationship with the government and the most secret part of the government." This was later followed by a US$10 billion contract with the Department of Defence.
Junglee is a former online shopping service provided by Amazon that enabled customers to search for products from online and offline retailers in India. Junglee started off as a virtual database that was used to extract information off the internet and deliver it to enterprise applications. As it progressed, Junglee started to use its database technology to create a single window marketplace on the internet by making every item from every supplier available for purchase. Web shoppers could locate, compare and transact millions of products from across the Internet shopping mall through one window.
The Echo line and its Alexa assistant are Amazon’s avenues into our physical lives and our digital behaviors. With the data it collects, Amazon is able to better understand how we shop and how we want the devices of the future to listen, respond, and problem solve as if they were other human beings. Amazon has stiff competition in this space, primarily from Apple and Google, but its early investments in smart speakers and AI have helped Amazon overcome its absence in the key consumer markets like mobile, search, and social networks. As a result, Amazon has made early and tangible inroads in developing an ecosystem that customers will find increasingly hard to abandon down the line.
Amazon announced to debut the Amazon 4-star in New York, Soho neighborhood Spring Street between Crosby and Lafayette on 27 September 2018. The store carries the 4-star and above rated products from around New York. The amazon website searches for the most rated, highly demanded, frequently bought and most wished for products which are then sold in the new amazon store under separate categories. Along with the paper price tags, the online-review cards will also be available for the customers to read before buying the product.
That same year, the company launched Dash buttons for instant reordering of products like laundry detergent, and it’s more recently been investing in new services that let package-carrying couriers unlock the truck of your car and even your front door. Most recently, Amazon has signaled an intention to disrupt health care by purchasing online pharmaceutical startup PillPack. All of this has helped Amazon grow its North American retail operation at an unbelievable pace; annual sales for the division more than doubled from $50.8 billion in 2014 to $106.1 billion last year.
This offer is valid ONLY to eligible Prime customers. To qualify, you must: (1) purchase the Amazon.com Gift Cards using the Amazon.com account to which you are currently logged in; and (2) enter promo code in the "Gift Cards & Promotional Codes" box when you check out.
Here's a special treat for Amazon Prime members: when you sign into your Amazon Prime account and buy Amazon gift cards worth at least $50, Amazon will deposit a $15 credit in your account! You'll get a notification banner in the last step of Checkout that lets you know your purchase qualified for the offer. If a promo code is requested, use this code. Don't leave free money on the table, grab this deal while it's hot! Some exclusions apply, see full instructions when clicking through.
Amazon, seeing the obvious opportunity here, reportedly outbid none other than Google to become Twitch’s parent company three years later, with the AWS infrastructure a big part of why Twitch CEO Emmett Shear decided to take the deal. Now, four years later, Twitch has outlasted both YouTube and Facebook’s attempts to snatch away its market share and, given the popularity of titles like Epic Games’ Fortnite, has become an even more integral fixture of modern online life and youth culture. Amazon has more recently integrated Twitch into its Prime subscription, giving subscribers free games and complementary channel subscriptions.
World-famous action movie and television star Chuck Norris has stood behind the Total Gym exercise machine for more than 30 years. The Total Gym provides a complete exercise experience in one simple product. Because the product is able to fold out to become different machines, this gym allows a person to stay in peak physical condition without wasting a lot of money. Norris himself is world famous for his physique and has used the Total Gym for decades to maintain that condition.


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The Kentucky Exposition Center, home to the RV Industry Association National RV Trade Show, hosts its annual consumer show this week through Sunday (Jan. 25).
The 58th Annual Louisville Boat, RV and Sport Show will host about 300 vendors in the five-day event that began Wednesday (Jan. 21). Show organizers expect an attendance of 40,000 consumers, wlky.com, a local TV news station, reported.
The event, sponsored by Progressive Insurance, will fill the South Wing of the Exposition Center. Hours are noon – 9 p.m. today and Friday (Jan. 22-23), 10 a.m. – 9 p.m. Saturday (Jan. 24) and 10 a.m. – 5 p.m. Sunday (Jan. 25).
Admission per day is $12 for adults over 16 years old, $10 for people over 60 years old and no cost to active military members and children.
A complete list of vendors, along with a layout of the show floor, can be found at the event website.


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If you listened to any of the large retailers’ earnings calls this past quarter you may have heard the term “shrink”. But what is it? Shrink is the loss of inventory due to theft or damage, and it is on the rise. Companies such as Target, Home Depot, T.J Maxx, Dick’s Sporting Goods, Nordstroms, Dollar General, and BestBuy have all mentioned shrink is above historical trends and is becoming a significant drag on their margins. So, how big of an impact does shrink really have on these companies that are worth billions?
Target CEO Brian Cornell said during their May earnings call the retail crime driven shrink is expected to reduce profits by $1.2 billion this year, up from $500 million last year. Lowes, which blamed both theft and weather-related damages, said shrink account for $997 million in losses in fiscal 2022, up from $796 million the year prior. According to the National Retail Federation annual survey, retail shrink hit $94 billion in 2021 up about 4% year over year but up 53% since 2019. Some management teams are blaming shippers for the increase in damaged goods, while others blame theft. Unfortunately, tracking shrink data is relatively new for retailers and there is not much publicly available data to compare. According to Target, in their most recent 10-Q, inventory shrink accounted for a 0.90% reduction in gross margins or about $220 million during just the second quarter. But the impact on margins goes beyond that of just shrink losses. Margins are also impacted by increased insurance costs that have to account for damages. In addition, there are higher capital expenditures as retailers must increase security measures, such as adding security tags, locking up inventory in glass cases, or adding sophisticated store wide camera monitoring systems. Because of the lack of publicly available data some analysts think the situation is being blown out of proportion and is a scapegoat to explain why margins are shrinking as inflation persists and consumers tighten their wallets. Most companies that you see in the news do not even mention shrink their earnings filings.
It seems, however, that some retailers have some truth to their story as increased theft is becoming a more concerning issue. Thieves are becoming more organized as they look for larger paydays. A Nordstrom in Los Angeles was part of an orchestrated robbery last month in which thirty people entered the store and began grabbing merchandise making out with $300,000 worth of goods in just a few minutes. Walmart has also seen a growth of theft with CEO Carl McMillion, saying “if the problem isn’t corrected then prices will be higher and struggling stores will be closed”. Walmart has already closed about forty stores since 2021 citing high crime areas that are making conducting business too risky. They are joined by CVS, Walgreens, Nordstrom, and Starbucks who have all cited theft and crime in decisions to close stores. This creates a snowball effect as consumers will face more limited shopping options or in some cases even limited access to medication as Walmart, CVS, and Walgreens leave areas where shrink-related theft is the highest.
As it may be frustrating for shoppers to deal with longer drives to stores and more locked or security tagged inventory, it may give retailers justification for eliminating stores with struggling margins or slow growth. Corporations can “trim the fat” and become more efficient operators in the long run. It remains to be seen how retailers can resolve their shrink issues and who ultimately pays the price; the retailers and their margins or the consumers.
The views expressed herein are presented for informational purposes only and are not intended as a recommendation to invest in any particular asset class or security or as a promise of future performance. The information, opinions, and views contained herein are current only as of the date hereof and are subject to change at any time without prior notice.
Boyd Watterson Asset Management, LLC


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At one point during Brendan Shanahan’s press conference Monday, the new head honcho of the Toronto Maple Leafs leaned over to general manager Dave Nonis and whispered in his ear.
One can only guess what the conversation entailed.
Maybe something like:
a) Is your desk cleaned out yet?
b) Grab me a double double — pronto!
c) Your buddy Brian Burke just called — he has an office waiting for you in Calgary.
d) What’s your name again?
Ok, we know none of those things were said. But that didn’t stop social media from blowing up with sarcastic suggestions such as the ones above.
Truth be told, Leafs Nation has been sold such a bill of goods over and over and over again in the past decade, you can understand why there is skepticism regarding the new Nonis-Shanahan marriage, one that many already are predicting will end in an unavoidable divorce sooner rather than later.


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ACY Capital (ACY), an Australian FX broker and education provider, has integrated its service suite with Alibaba’s newly launched data centre in Indonesia. The move is aimed at enhancing the ASIC-regulated firm’s cloud-based trading engine, as well helping to grow its retail client and institutional clients base within Indonesia.
Alibaba recently revealed that its cloud computing arm, Alibaba Cloud, has begun operations at its first Indonesia-based data center.
TrioMarkets Partners with HokoCloud, Expands its Portfolio with Social TradingGo to article >>
The new Asian data center offers ACY Capital a full suite of services, providing the flexibility to build their entire IT infrastructure for business on Alibaba Cloud or run mission-critical and core applications on it.
In addition, the center will provide a local choice for Indonesian traders by offering reliable and cost-effective cloud products and services, allowing ACY Capital’s clients to develop better cloud-based algorithmic trading within local data server.
“The increase number of Indonesia traders has been in ACY’s focus for the last 12 months, and we are pleased to announce the new development of trading infrastructure within Indonesia, the additional service and technology ACY provide will remain free of charge, that also by saying all our spreads will be remain as low as 0.8pip for EUR and commission free,” ACY Capital’s Director Jimmy Ye said.


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FORT WAYNE, Ind. (WOWO): State and local officials today joined General Motors to announce the company’s plans to invest $632 million in its Fort Wayne Assembly.
The investment will support the 3,983 employees at the northeast Indiana facility and enable the company to strengthen its full-size truck business over the next several years. As well as support the production of the next-generation internal combustion engine (ICE) full-size light-duty trucks
GM’s investment in its Fort Wayne Assembly, located at 12200 Lafayette Center Rd. in Roanoke, will support new conveyors, tooling and equipment in the plant’s body and general assembly areas. The investment also bolsters GM’s U.S. manufacturing operations, including more than 50 assembly, stamping, propulsion and component plants and parts distribution centers nationwide. It also highlights the company’s commitment to continue providing customers a strong portfolio of ICE vehicles for years to come.
The Fort Wayne Assembly builds the Chevrolet Silverado 1500 and GMC Sierra 1500. GM’s Fort Wayne team members contributed to the 2023 Chevrolet Silverado ranking the best-selling retail full-size light-duty pickup in 2022.
“GM’s continued commitment to our community is valued and appreciated,” said Fort Wayne Mayor Tom Henry.
Today’s news brings GM’s U.S. manufacturing and parts distribution facility investment commitments to more than $31.6 billion since 2013. GM has announced nearly $2 billion in investments for Fort Wayne Assembly and more than $2.8 billion in Indiana manufacturing operations since 2013.


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2017 Coinbase Review ~ Legit What Will Happen When Major Chinese Bitcoin Exchanges Close Chinese Bitcoin Exchanges May Face Stricter Regulation and Licensure. September 13, 2017 Bitcoin News Bitcoin, charlie lee, China, Chinese Exchanges, Cryptocurrencies, Economy, Finance, ICOs, illegal, Jihan Wu, licenses, N-Featured, NIFA, Regulation 0. This article was originally posted on Bitcoin News – delivering news related to the
Cybercriminals will never stop trying to break into your devices. That’s why you need to take these 5 steps to beef up.
A Microsoft US patent application published last month describes a way to use body activity like brain waves as proof-of-work.
Looking to enhance your privacy while you browse the web? Here, we compare the top VPN providers with Chrome extensions for.
Copay Bitcoin Wallet. gratis Windows software. gratis Mac software. gratis Linux software. gratis Android app. gratis iOS app. Hoewel de koers van de bitcoin.
Some VPNs give you more, but, the website explains, IPVanish is ‘the world’s only Top Tier VPN service provider’. The company.
9 Feb 2018.
Therefore, it is essential to have cryptocurrency prices apps on your Windows device. These applications will provide you live feed of the.
Choose your Bitcoin wallet. Select a wallet to store your bitcoin so you can start transacting on the network. people and wallet.
15 Feb 2019.
A number of apps in Microsoft's app store have been found to be able to illicitly mine cryptocurrency. The eight apps, discovered by Symantec.
Revolut’s founder-chief executive Nikolay Storonsky is preparing to double down on travel just as the world battles with the.


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ZTE has mostly shut down its main business operations, according to Reuters, after the US government banned US companies from supplying it with components. ZTE did say that it is trying to get a modification or reversal to the ban, though.
Because ZTE makes a lot of the products using components from Qualcomm and Intel, a ban on US companies supplying them is a huge hit. We knew it would be when the US government announced the ban, but man, this is all happening very quickly.
ZTE can always try to find other suppliers for its components. The problem is, there aren’t many alternatives. Mediatek is a mobile chipset maker that could step in to provide some relief.
Remember, as you possibly feel bad for ZTE in all of this – the reason they got this US supply ban was because they lied about paying bonuses to workers. They were initially in trouble with the US for supplying electronics to Iran, but after being slapped with heavy fines for that, they failed to follow through on additional rules set by the US government. ZTE was supposed to fire certain employees involved in that Iran deal and also vacate bonuses to a bunch of other employees. When the US government found out that they lied about the bonuses and paid them anyway, that’s when this latest, crippling ban happened.
We’ll keep you updated on ZTE, but things sure do look bad at the moment.


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Redmi had already confirmed that it’s launching its next Note series in March, but now we have a precise launch date. The Redmi Note 10 lineup is going to make its global debut on March 4 this year, and India will be one of the first markets to get it.
— Redmi India – #RedmiNote10 Series is coming! (@RedmiIndia) February 16, 2021
We are expecting to see the Redmi Note 10 and 10 Pro at this launch event, but it may just get the Mi 11 treatment with the Pro sibling launching later on.
We may also see “Note 10S” or other variants, but those will likely release sometime later. Previous leaks on the Note 10 series have mentioned camera improvements and we are expecting to see a 108MP sensor on the Pro model. The main chipset may be the Snapdragon 750G and leaks have also hinted towards a high refresh rate display.
We expect to see a 5,000 mAh battery cell with support for fast charging as well as reverse charging since the Note 9 series has support for both. We will likely also get Android 11 fresh out of the box with MIUI 12.5.
The brand is going to teaser more details as the launch date draws near, so stay tuned.


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The local arm of Japan’s Leading Consumer Electronics Maker, Sony India is gearing up to set up “Make in India” for smartphones and televisions rather than relying largely on imports like it did earlier in view of government’s move to increase taxes on the overseas product.
As reported by Sunil Nayyar, Company’s Managing Director, Sony’s parent headquarters in Tokyo is speculating on its next move which will either involve expansion of third-party manufacturing or will include setting up of plants in India.
Nayyar who is also the first Indian to lead local operations of the company further added,
As of now, we are happy with our third-party manufacturing and quality of products which has negligible return rates. A large portion of our portfolio will move towards local production which will be a win-win situation for the brand, consumers and government.
Meanwhile, Government has increased duties on import duties on completely built smartphones and television sets to 20% from 15% and 10% respectively. Additionally, the import duties on components for these both products have also been increased.
To recap, Back in 2015 Sony started manufacturing of entry-level TV sets in the Foxconn Plant. In 2017, Sony extended the partnership to manufacture two mid segment smartphone models.
Coming to tax duties in India, a 15% duty is levied on finished LED TV panels imported for local assembling while 5% is levied on open cell TV panels which require further assembling before being used for production.
Over time, Sony has also increased local production of TV units up to 55 inches and will expand it to two more models as informed by MD. Interestingly, the company has refrained itself from increasing prices of TV sets despite an increase in import duties as it wants to stick to its loyal customer base keeping the burden away for them in the process.


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Axie Infinity, a P2E game, saw a drop in sales for the third consecutive month in 2022 after achieving milestones last year. Dwindling volume over the last month could have a huge impact on the fortunes of Axie Infinity as it also features NFT collectibles. It gained more than 11,800% of March 2021’s sales in July when the NFT product began trending online. Axie Infinity generated a sales volume of about $666 million.
The platform continues to record sales that, when compared to the milestones achieved in July, August, September, October, November, and December 2021, are described as a “mere fraction”. The total sales volume of Axie Infinity for the month of March 2022 was down from the previous month. It made only $82 million in February, while $31 million in March – a 61% decline.
Analysts say Axie Infinity’s fall started in December 2021, when it shed 60% of November’s new high. The market took a bearish stand and the platform’s sales volume dipped to $301 million from November’s high of $753 million. Analysts attribute the decline to primary factors such as decreasing unique buyers, average sales, and transaction counts. In November, Axie Infinity recorded an all-time high of unique buyers 520,425, which fell to 424,325 in December.
Furthermore, Axie Infinity’s native token AXS has also seen its price fall. In the last 24-hours, AXS is down by 8.22% as per CoinMarketCap and is trading at $58.62. It lost nearly 10% of its price in the last seven days.


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LA Tech news for the week ending 2/9 including the LA startup fundings, exits, and events including news for Ritual, GOAT, Signal Science and much, much more…
The latest venture capital seed and angel deals for LA startups for 2/8/19 featuring funding details for cannabinoid brand Prima.
The latest venture capital seed and angel deals for LA startups for 2/7/19 featuring funding details for GOAT.
Today, we take a look at the 14 companies that have raised the largest startup funding rounds in Los Angeles in 2018 using some data from our friends at Crunchbase. In addition to the dollar amount, we have included a brief description, industry, round type, total equity funding raised, and funding round details. Lastly, in order to […]
Armed with some data from our friends at CrunchBase, I broke down the 20 LA startup largest rounds during the first quarter of 2018. I have included some additional information as well such as industry, location, date of funding, total equity funding raised, and brief a description to further the analysis. For the purposes of this analysis to maintain […]
Armed with some data from our friends at CrunchBase, I broke down the 5 largest startup funding rounds in LA during the month of February. I have included some additional information as well such as industry, brief company description, date of funding, and total equity funding for the company, to further the analysis. For the purposes […]
With so much going on in the thriving LA tech and startup ecosystem, it is easy to miss some of the news in the space. We keep you abreast of a few of things that you may have missed in LA Tech news this week including the fundings, exits, and events. It was a massive week for Tech in […]
Flight Club, the pioneering site and retail presence for sneaker enthusiasts, has been acquired by GOAT, the digital marketplace for sneakers. In conjunction with the acquisition, GOAT is announcing a $60M funding round led by Index Ventures including participations from Accel, Matrix Partners, Upfront Ventures and Webb Investment Network. “Aligning with GOAT’s world-class technology and […]
Here are the latest venture capital, seed, and angel deals for LA startups for 2/8/18. This page will be updated throughout the day to reflect any new fundings.


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in The Forrester Wave™: Digital Operations Platforms For Manufacturing Businesses, Q3 2020.
TROY, Mich., March 15, 2018 – Plex Systems, the leader in cloud ERP for manufacturing, today announced it achieved another record year in 2017, with nearly 600 manufacturers now running Plex in approximately 2,000 facilities around the world. Plex also introduced new analytics applications, integration capabilities, and an expanded suite of supply chain products in 2017, helping manufacturers improve their planning and decision-making on the shop floor and across enterprises.
2017 Plex Highlights
“We're proud to be the system of record for manufacturing industry leaders,” said Don Clarke, interim chief executive officer, Plex Systems. “We look forward to continuing to invest in products and solutions in 2018 that enable our customers to focus on new opportunities for efficiency, growth
Plex Systems, Inc.® is the leader in cloud-delivered smart manufacturing solutions, empowering the world’s manufacturers to make awesome products. Our platform gives manufacturers the ability to connect, automate, track and analyze every aspect of their business to drive transformation. The Plex Smart Manufacturing Platform includes solutions for manufacturing execution (MES), ERP, quality, supply chain planning and management, Industrial IoT and analytics to connect people, systems, machines, and supply chains, enabling them to lead with precision, efficiency and agility.
©2021 Plex Systems, Inc. All rights reserved. Plex Manufacturing Cloud and the Plex logo are registered trademarks of Plex Systems, Inc.