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Wrong, says a new study from the United States that has surveyed more than thousand people via the internet. The video game streaming network, Twitch, decided to put to the sword the age-old maxim that gamers are nerds and asocial beings. They’ve concluded that gamers are, on the contrary, more social, more successful and more educated than non-gamers.
Surprised? The devil may be in the detail. The study defines a ‘gamer’ as anyone who has played a game on a digital device over the last sixty days. So if you’ve popped onto your phone for a quick fix of Candy Crush for only a few minutes in the last two months, the study defines you as a gamer. A bit of a loose definition, one might say.
Regardless, different parameters were tested, and in almost all of them gamers scored higher than their non-gaming counterparts. For instance, gamers were more likely to agree with the statement: ‘My friends are the most important thing in my life.’ Gamers were more likely to be employed full-time, believe it or not, and they’re more likely to be living surrounded by people, such as family, friends or significant others.
Twitch’s vice-president of marketing, Matt DiPietro, said, ‘There’s this perception that [the community] comprises loners and rejects … and that couldn’t be more wrong,” he said. “We didn’t go in with an idea of what the data would show, but we knew what we thought the data would show, and it showed what we knew to be true.’
There may be a bit of confirmation bias in his statement, but at least now we know better than to cast all gamers with the ‘nerd’ brush.


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The Winter Consumer Electronics Show (CES) in January was a coming-out party for several of the nation’s leading service providers. For the first time, public network service providers such as Comcast, Cox, and SBC Communications exhibited at the show, which is geared toward retailers and dealers of home audio, video, and entertainment systems.
Traditional telephone and cable TV companies now see themselves as part of a larger consumer technology value chain. They aim to compete to provide the broadband network glue that brings together and manages personal computing, digital television (DTV), on-demand home entertainment, portable communications, and even “hybrid” appliances, such as refrigerators and washing machines, that can all link to a home network. Their success will depend on how well they make this information technology for the home simple and manageable for the average consumer.
Making that task more difficult are regulators and lawmakers who, even as they broach reform, still see telecommunications as if it were primarily a monopolistic, wireline, geographically defined, voice-only single-line service.
Worse, many believe pricing and discriminatory tax policies, all dating from the monopoly era, should be extended to cover the new competitive and diverse services that until now have thrived in an unregulated market. Witness continued attempts by states to regulate and tax Internet telephony and e-commerce, although the nature of the Internet makes it impractical to do so.
Wiser policymakers endorse the opposite approach. When today’s technology offers the potential of maximum service diversity, they say it is in the best interest of all to foster a market where suppliers are free to create value for consumers through integration of network technologies and service bundling across platforms.
It makes sense to allow service providers the same freedom as their counterparts in the consumer electronics business. For example, we don’t regulate the price of or place special taxes on DVD rentals from Blockbuster. Why then propose to do so with videos downloaded via DSL? The services compete head-to-head. The only difference is the method of delivery, storage, and playback.
The 2005 Opportunity
Regulatory sunset provisions and/or telecommunications reform plans are on the agenda in several states, including Illinois, Indiana, Texas, and Wisconsin. With the consumer electronics industry placing big bets on converged entertainment and media services, policy decisions made by these and other states, and any reform laws they pass, are going to get more attention than they have in the past.
Until now, the benefits of “convergence” have been largely conceptual. But judging from CES, 2005 will see a mass market emerge for integration of consumer IT, telecom, and entertainment. Marketing and advertising by all segments of the industry will increase.
Already TiVo digital video recorders can connect to PCs and download programming. Set-top boxes can integrate and manage information from satellite, DSL, and home networking connections. By May, the CES vendor demos will have moved to Best Buy’s selling floor. Consumer awareness about convergence will soar. People will cry, “I want my DTV!”
At that point, state-to-state differences in telecom regulations that restrict flexibility will stand out in high relief. Reporters are consumers, too, and the local and national media, which until now largely has ignored the simmering debate on telecom reform, is going to take more notice of the progress–or lack of it–at the legislative and public utility commission levels.
The upcoming telecom policy battle involves products and services everyone wants: TV and home video, games and music. State legislators who believe these debates are too arcane to gain voter traction do so at their risk.
The pending U.S. Supreme Court decision on direct-to-consumer sales of wine over the Internet may foreshadow the kind of consumer uprising we’ll see in telecom. Today, wine lovers in New York State cannot order wine from out-of-state vintners, even though wine lovers in 26 other states can. By November, consumers will be asking why they can’t program their DTV set-top boxes from their cell phones the way their relatives who live two states over can.
Telecom consumers are not going to be enthused to learn they’re technologically less free because their state government is in the midst of a 36-month study as to whether the local phone company should be allowed to handle content to a wireless device via Internet protocol.
Telephone service no longer can be viewed as something independent from consumer electronics, home computing, operating systems software, and portable wireless devices. Consumers understand this.
Applications networking has become integral in the delivery and added value of integrated broadband services. Yet government regulations today constrain the growth and expansion of easy, economical applications networking. This will frustrate users–read voters–more and more.
The only way to ensure healthy growth in this sector, so Americans can enjoy the tangible benefits and flexibility of integrated IT applications, is to lift from telecom providers the burden of heavy regulations and high taxes that pre-date the convergence of telephone, data, and home entertainment. The public interest is measured not by the availability and price of single-line dial-tone, but in the value and choices of integrated services and applications.
Steven Titch ([email protected]) is senior fellow for IT and telecom policy at The Heartland Institute and managing editor of IT&T News.

domain: news


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Peloton Fitness has announced in its first earnings report since its IPO that it has completed the acquisition of its Taiwanese supplier Tonic Fitness.
This, says the indoor cycling business, gives the firm greater control over its supply chain, enabling a scaling of production, as well as speed of innovation. The deal was worth $47.4 million in cash.
Production too will need to step up as the firm looks toward more international expansion. Already a year in to its UK and Canadian business, the plan will now be to open more showrooms to introduce people to the product that has begun to be heavily advertised on television, among other channels.
Starting this month the firm will begin in the German market, said to be the third largest fitness market in the world behind the U.S. and UK. Germany will represent the first country to offer non English language content. It is expected that more showrooms will open across Germany’s metropolitan areas, while similar advertising plans deployed elsewhere will follow. A pot of $1.4 billion in cash raised by the business will help this progress along.
In the financials the main takeaways were better than expected revenues tallying $228 million, a 103% mark up from the year prior. Adjusted EBITDA saw a $1.29 share value, while analysts had predicted a loss of up to 39 cents.
As far as forecasting goes, full-year guidance sat between $1.45 billion to $1.50 billion, versus projections of $1.35 billion. The firm’s net losses improved too by $4.8 like-for-like.
Users are engaging well too, with average monthly workouts spiking from 8.9 a year ago to 11.9 a month. Likewise, the number of subscribers accessing the connected fitness platform rose. Gross profit margins on subscription revenue surged 763 bases points year-on-year.
The Peloton business has grown its subscriber base by around 200,000 since its IPO in late September, according to the financials.
A 30-day home trial was recently launched in a bid to get more people to try out the system in the comfort of their homes. Full refunds are offered should the customer not enjoy the experience.
Recently the business ran into legal difficulty with claims made that the business had not followed proper procedure in relation to music licences used on its platform.


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[Issue 090] What you should know about the women in the Fortune 500
I come to your inbox today, bearing good news: after a depressing drop in 2018, the Fortune 500 has more female CEOs than ever before!
According to the Fortune article:
“We are seeing women and minorities on boards ticking up, and boards have a lot to do with who becomes CEOs,” says Lorraine Hariton, CEO of Catalyst, a nonprofit consulting and research firm focused on women in the workplace. Fifteen years ago, women accounted for 15.7% of board seats in the Fortune500. Now, it’s 25.5%. The increase has come as institutional investors—citing research on the business benefits of diverse leadership—have pushed for new blood in boardrooms.
That increase in board representation is certainly worth calling out:
Despite how far we still have to go (e.g. over three-dozen companies still have only one or zero women in their boardrooms), it's refreshing to see positive change.
A few data points I found interesting:
There have only been 78 women in Fortune 500 CEO roles in TOTAL.
Among Fortune 500 companies, women have succeeded other women as CEO on only three occasions.
Ursula Burns succeeded Anne Mulcahy as CEO of Xerox, serving from 2009–2017.
Sheri McCoy succeeded Andrea Jung as CEO of Avon Products, serving from 2012–2017.
Debra Crew succeeded Susan Cameron as CEO of Reynolds American, serving one year until December 2017.
Beth Ford, CEO of Land O’Lakes since August 1, 2018, is the first openly gay woman to serve as CEO of a Fortune 500 company.
Bed Bath & Beyond’s Mary Winston is the second black woman ever to serve as a Fortune 500 CEO (she’s in an interim post).
Let's hope that the rest of 2019 continues to take us in the right direction. I'll certainly be watching closely.
Dutch photographer Hellen van Meene’s photograph of the 16-year-old appears on the cover of the May 27 edition of TIME, and was taken near the Swedish Parliament in Stockholm during one of Thunberg’s school strikes in late April. She began her weekly strikes from school last year, protesting outside the Swedish parliament to raise awareness about climate change; the strikes have since spread to more than 130 countries worldwide. Thunberg was named to the TIME 100 list of the world’s most influential people in April and is now one of TIME’s Next Generation Leaders.
11 Powerhouse Woman CEOs Just Penned a Full-Page Letter Declaring ‘Abortion Is A Human Right’. In response to the recent regressive abortion laws being passed in Georgia and Alabama, 11 women from major brands like THINX, Cora, Fur, LOOM, Dame, Sustain Natural and Clary Collection put out a full page letter in the New York Times, stating that “As women and business leaders, we support the right to choose today and everyday”. They are also urging other business leaders to take a strong stance on the issue and stand up for women’s rights. // INC.
Nike To Change Pregnancy Policy In Athlete Contracts. After complaints from Olympian athlete Alysia Montaño that Nike had ended her campaign with them when she became pregnant, Nike has added parts in its new contracts with athletes that protect their pay during pregnancies. Formerly, Nike held the right to reduce pay if athletes failed to meet performance goals for any reason, including pregnancy or childbirth. // WSJ
We Froze The Salaries of 20 Executives- And It Improved the Lives of 500 Employees. This article is written by the CEO of a healthcare services company called CareCentrix. He talks about how when his business was facing troubles and high turnover rate in its lowest paid employees, he and his team decided to stop raising the executive wages with an annual inflation adjustment, and instead used that money to raise their minimum wage to $15.00. Driscoll reports that their business has tripled over the past 5 years since they had made this change, and their minimum wage is almost at $16.50 an hour. // THE GUARDIAN
Time's Up: McDonald's Faces 25 New Sexual Harassment Charges. The Civil Liberties Union announced that 25 McDonald's employees have filed sexual harassment claims against the company. Their ages range from 16 and up, and the allegations include claims of groping, indecent exposure, and propositions for sex. // NBC NEWS
Google Launches Scheme With Stella McCartney To Help Reduce Fashion’s Environmental Footprint. Google and fashion designer Stella McCartney, who has spearheaded the use of organic cotton, reusable fabrics, and sustainability within the high-end fashion industry, have created a scheme together to improve sustainability in the fashion industry. At a fashion summit in Copenhagen, they announced that they will be building a Google Cloud data analytics and machine learning service that will help brands get a better, more comprehensive view into their supply chain so that they can estimate environmental impacts within their supply chain, and manage it better overall. // INDEPENDENT
Hot Job Market Is Wooing Women Into Workforce Faster Than Men. This article talks about a woman named Gaby Gemetti, who recently rejoined the workforce after caring for her children for a few years, upon finding that the job market was ripe with opportunity, especially in the technology sector. The article then goes on to say that Gaby is like many other women, as women in their working prime have been entering or re-entering the workforce at double the rate of men. The article goes on to discuss why the uptick is happening, and what challenges the women workforce might be up against. // NPR
These Are Best Paying Jobs For Those Concerned About The Environment. This article reports that most jobs related to environmental protection in the United States, like environmental engineers, hydrologists, and conservation scientist, typically earn more than the US median of $38,640. It also provides a list of many different environmental protection jobs and their median pay, so you can browse for a new career. // QUARTZ
This week's headlines were curated by ABL's intern, Lora.
“For too long, corporate America has been largely silent on speaking up for sexual and reproductive health and rights. That must change. Today, we loudly and boldly declare that we will not be silent in defense of fundamental human rightsand we challenge our peers in the business community to do the same. Now is the time to speak up.”
- 11 Powerhouse Woman CEOs in the New York Times


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Miners’ Year-Over-Year Sales Dip in October, November
Some question if the rough market is cooling off even as diamond jewelry sales to end consumers remain strong.
In the ninth sales cycle of the year (Nov. 8-23), De Beers Group moved $430 million in rough diamonds, down 7 percent year-over-year—its first year-over-year decline of 2021—and down 13 percent from $492 million in the previous sales cycle.
De Beers CEO Bruce Cleaver attributed the slowdown to cutting factory closures in India on and around the Diwali holiday (observed Nov. 2-6). De Beers also noted that factories in India chose to have shorter Diwali breaks in 2020 to take advantage of the market recovery.
He projected the slowdown would continue into sales cycle 10, the final sales cycle of the year, as factories in South Africa shutter for Christmas.
However, in a post on LinkedIn, industry analyst Edahn Golan questioned if De Beers’ cycle 10 slowdown is a signal the rough market is cooling off, not a Diwali-related drop-off.
Cleaver said De Beers expects to see “positive conditions” for the industry in the new year following what’s expected to be a strong holiday season for diamond jewelry sales.
Year-to-date, De Beers’ rough diamond sales total stands at $4.48 billion, up 89 percent from $2.36 billion in the same period last year, though it is worth noting De Beers had one less sales cycle in 2020 because of the pandemic.
Compared with year-to-date 2019 ($3.6 billion), De Beers’ sales are up 24 percent.
In October, Alrosa’s diamond sales totaled $308 million ($293 million in rough and $15 million in polished), a slight dip when compared with $310 million in diamond sales in October 2020. This is the second month in a row the miner has recorded a year-over-year decline in monthly sales.
Alrosa’s October sales were, however, up 3 percent from September’s total of $298 million.
Year-to-date, the miner has sold $3.58 billion in rough and polished diamonds, 89 percent ahead of where it was at this point last year.
Deputy CEO Evgeny Agureev said jewelry demand continues to increase by double digits in key markets, a trend both retailers and cutters see continuing through the end of the year, while rough diamonds remain in short supply due to cuts in diamond production.
It’s an imbalance Alrosa said it aims to correct, while keeping in mind the health of the mid-stream.
“As end consumer demand for natural diamond jewelry remains high, Alrosa aims to gradually restore the supply and demand balance, despite the limited capacities to increase production,” he said. “At the same time, we are committed to our policy of selling rough diamonds only against actual demand.”
Without the ability to instill confidence within the industry and directly to the consumer, a diamond holds very little value.
The wedding band company is also accusing its former customer of removing watermarks from Lashbrook images for its own use.
It provides a timeline for the implementation of new restrictions, but no details.
With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.
Sherry Smith breaks down the numbers on jewelry sales in November and reveals the category that “emerged as a standout.”
Additional lots will be offered in the Fine Jewels online sale through Dec. 7.
Peter Damian Arguello, the owner of Peter Damian Fine Jewelry & Antiques, was shot and killed in an apparent robbery last week.
The Indian jewelry giant has opened locations in Houston and Frisco, Texas.
The watch seller’s new index tracks sales data from 14 brands, including Rolex and Patek Philippe.
The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.
It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.
Chris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.
The retail offering lets customers track their diamond’s journey.
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.


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Culp Sees 2Q Profit
December 7, 2009,
Profits rose in both the upholstery fabric and mattress ticking segments and of Culp Inc.'s business in the fiscal second quarter ended Nov. 1, even though sales were down 4.9% from a year earlier, the company reported.
The company reported a profit of $2.9 million or 22 cents per share on sales of $49.7 million in the quarter just ended, a turnaround from a loss of $40.9 million or $3.23 per share a year ago. In the 2008 quarter, the company took a charge of $31.2 million to write down the value of deferred tax assets, and $11.8 million in restructuring and related charges.
Upholstery fabric sales were down 11% to $21.5 million, including $17.9 million in fabric made in China and $3.6 million in domestic product. Sales of China-made product declined 1% from a year ago and domestic fabric sales fell 41%. However, the segment's operating profit improved, the company said.
Mattress ticking sales rose 1% from a year earlier to $28.7 million. Saxon said the business has improved as Culp has installed equipment to expand its capacity in knit fabrics and improve its production capabilities in both knits and wovens.
"We are realizing the incremental benefits of the profit improvement plan completed last year and a leaner and more agile operating platform. With the completion of these initiatives, we have shifted our focus this fiscal year to product development, sales and marketing initiatives, and delivery performance," Saxon said.
The company said that for the first time in 30 years, it has more cash and cash equivalents on its balance sheet — $19.6 million — than it has total debt, which is $16.4 million.
For the six months ended Nov. 1, sales fell 14.7% to $95.2 million. The company reported a profit of $4.8 million or 38 cents per share, compared with a loss of $40.1 million or $3.17 per share a year earlier. For the fiscal third quarter, Saxon said the company expects to report pretax income in the $2.1 million to $2.9 million range.
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Tata Motors has always being very regular updating its Indica/Indigo cars line-up. Although Tata Indica facelift has been spotted many times in different avatar (XL, 90badging, etc…) Now folks at IndianCarsBikes has spotted testing the facelifted Tata Indigo eCS in the streets of Pune.
From the spy pictures, we can make out there aren’t many changes on the upcoming Tata Indigo eCS. The changes are minor, which includes smoked headlamps (as seen in the VW Polo and Vento), new fog lights and redesigned grille. The Team ICB also reports that the new front grille that the facelifted Indigo eCS will come with, will be used on upcoming Tata cars too.
Other than the new front fascia, the rest of the exteriors of the facelifted Indigo eCS remain unchanged and the rear too looks exactly the same as the current car. Also it is speculated to retain the same engine, the 1.4-litre CR4 diesel motor that puts out 70 bhp/140 Nm or a 1.2-litre MPFI petrol engine which produces 65 bhp/200 Nm. Both engines are offered with 5 speed manual gearbox options.
In the coming months, the Indian car buyers will have no less than 4 compact sedan to choose from at the same time the Tata Indigo eCS will face a tough competition with the upcoming Honda Brio Amaze, upcoming Mahindra Verito CS and Maruti Swift Dzire (on-sale now).
Also see – Spied – Tata Indica XL caught testing, yet again!
Source – IndianCarsBikes


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A worker’s protest suddenly turned violent near Khurrianwala Road on Friday.
According to eyewitnesses, hundreds of workers of a local factory situated at Faisalabad-Khurrianwala Road began throwing rocks and bottles at the administration after the manager of the factory and his guard resorted to firing to disperse the crowd.
“Dozens of people were injured because bottles were flying in every direction,” said a protester Amar. The workers were protesting against the non payment of their salaries and demanded an immediate release of their outstanding benefits. “The factory owes us three months salary and benefits and Eid is coming. We have been asking them for the money for months,” said a factory worker Shahram Sultan.
The workers contended that they were suffering after several local textile and other factories decided to lay off workers a few months ago. “They aren’t even paying the workers they kept on. I’d rather have been laid off so I could at least have found a paying job,” said a protestor Mubasshar.
Several protestors said that they had not been paid for five months and that the administration kept telling them they would receive their pay within a couple of weeks. “Those couple of weeks have become 5 months and now we will see the management give us our money or we will set fire to the place!” said Mubasshar.
The workers also said that labourers who were removed from the services on various pretexts had not been paid their legitimate benefits or severance pay.
The workers staged the protest rally for the payment of their dues, when two managers of the factory and a guard began firing on the crowd. The workers in turn began throwing bottles, rocks and burning sticks at the factory and ransacked the place. “They broke into the gates and began destroying machinery,” the guard Haji Asad Khawar said. The workers said that nearly 200 workers were dismissed from service without payment and they were tortured when they demand for their dues. They also blamed the factory owners and other management staff for victimizing them and implicating them in various false criminal cases. A police contingent immediately rushed to the spot and took dozens of people into custody including armed persons from the factory. Police arrested Raiz Ahmad, Muhammad Iqbal, while General Manager of the Factory M Sarfraz Khokhar and his six other associates fled the scene. Balochni Police have registered a case against 12 accused on charges of firing, threatening for dire consequences, injuring, and taking law into their own hands. Over 11 injured people have been sent to Allied Hospital for treatment.
Published in The Express Tribune, August 27th, 2011.
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Kingsfisher to sell LibertySurf stake
Retail group Kingfisher has agreed to sell its 35% stake in French-based internet service provider Liberty-Surf to Italian web group Tiscali in a cash-and-shares deal worth £149m.
Kingfisher, which acquired its holding in LibertySurf for about £35m 18 months ago, said the deal was expected 'to give rise to a small exceptional profit which will be included in the 2001-02 results'. In September Kingfisher booked a £120m exceptional gain in its interim results related to LibertySurf's Paris flotation.
Today's sale, which is expected to close in March, sees Tiscali offer 0.365 of a share and e2.13 for each LibertySurf share. French magnate Bernard Arnault's net investment vehicle Europ@web, which also has a 35% stake in LibertySurf, has agreed to the same terms.
Kingfisher is permitted to sell its resulting 12.2m shares, or 3.5% in Tiscali, in three equal tranches over a defined time frame starting this July. The future of the LibertySurf brand in Britain, where Kingfisher's electrical retail arm Comet is the primary distributor, is un-clear, as is the future of its 110 City-based staff.
Kingfisher chief executive Sir Geoffrey Mulcahy said his group's e-Kingfisher net arm would now concentrate on developing its e-commerce portfolio which includes online retailer Streets Online and the net arms of its Super-drug, Woolworths, Comet and B&Q brands.
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Riot Games made quite the splash overnight with a bevy of announcements celebrating the 10th anniversary of its mega popular MOBA, League of Legends.
Not only was the game’s 146th playable champion teased, LoL’s developer took the opportunity to announce multiple new games. These include Wild Rift – a version of League built specifically for consoles and mobile – as well as Teamfight Tactics for mobile, Legends of Runeterra, and even a fighting game.
One announcement that specifically caught our attention was “Project A”, Riot’s upcoming hero shooter that has come completely out of nowhere.
The game doesn’t have an official title for name yet underlines the studio’s push to create new game beyond its landmark MOBA.
Project A has a stylish sci fi twist and is set on a near future earth. Much like Overwatch and Paladins, it features a cast of characters, each with their own gameplay abilities that can be used to cause mayhem on the battlefield.
In the gameplay trailer we see characters creating barriers, ice walls, decoys, and force fields, others capable of huge leaps while throwing knife life projectiles.
What’s interesting about Riot’s own take on the online FPS genre is that there’s a focus on incredibly precise gunplay and a low TTK (time to kill), emulating more tactical entries in the genre such as Tom Clancy’s Rainbow Six Siege as well as Valve’s Counter-Strike.
On paper it sounds like a strange crossover between two very different ends of the FPS spectrum. What fans love about tactical shooters is their boots on the ground, gimmick free approach. However, Riot is clearly confident they’re onto a winner here and we’re intrigued to hear more.
Another interesting highlight is how the game will actively shutdown cheaters using aimbots and other hacks from day one.
The team behind Project A are going “heads down” for now, promising updates and teases in 2020.


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The U.S. labor market improved markedly in November, with the unemployment rate falling back to 10% and job losses shrinking to the lowest level in nearly two years, the Labor Department reports. See full story.
Taxes, exports in focus at White House jobs summit
President Barack Obama says he'd look into giving businesses more tax incentives to add employees, as leaders from Corporate America, labor and academia offer up ideas for creating jobs at a White House summit. See full story.
Europe stocks stage sharp turnaround after data
European shares stage a sharp turnaround, with miners in the lead, after data paints a much better-than-expected picture of the U.S. economy. See full story.
Confronting the inflation boogeyman
Gold is hitting all-time highs amid growing fears of inflation, writes Howard Gold. See full story.
Gold makes strides, but platinum's still a winner
Platinum’s price premium over gold has been shrinking, but platinum will continue to be a clear winner -- topping gold as one of the most expensive and rarest of precious metals. See full story.
Two weeks from today, Santa Claus will make his first appearance of the year in New York City, reminding us that Christmas is the season of miracles. And at least according to retail stocks, the holiday shopping season could be in for one itself. See full story.
Choking risks, dangerous chemical ingredients and excessively loud noise are the top features toy shoppers should try to avoid this holiday season as they load up on children’s gifts and stocking stuffers. See full story.


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Address: Block D, Century Fortune Center, High-tech Zone, Jinan City, Shandong Province, China
BONA BIOTECHNOLOGY GROUP
Kenya Observation: Chinese medicine saves tens of millions of African malaria patients
Not long ago, the British Guardian published an article on the front page stating that in Africa, such as Tanzania and Uganda, the drug market for malaria and other diseases is flooded with about one-third of fake products, most of which come from China and Uganda. India. In subsequent articles, the author directly pointed to China, believing that China has a tradition of producing fakes, and continued to criticize China for threatening the lives of thousands of Africans.
However, the actual situation is exactly the opposite of the reported conclusion. It is the "artemisinin" medicines discovered in China that effectively replaced the "quinine" drugs with huge side effects produced in the West and saved millions of African patients infected with deadly malaria.
Chinese experts developed anti-malarial drugs containing "artemisinin" in the 1960s and 1970s. After years of improvement, they were recommended by the World Health Organization for anti-malaria in the early 21st century. Although in the global public market share, the share of antimalarial drugs produced by Chinese companies is less than 20%. In the private market, it has an advantage that other countries' medicines can't match, that is, good quality and low price.
"My child got malaria. After only three days of malaria medicine made in China, he recovered completely. The total cost was less than 100 shillings (approximately 1.15 US dollars, 7.2 yuan)." said Priti from Kenya. , She also said that if you go to a public hospital, it will cost less.
Western reports on this matter are based only on "huge suspicion" and the analysis of individual experts. This is because there is no authoritative international organization or relevant department of the African government that can obtain real and effective data to analyze counterfeit drug cases. In other words, in the cases of counterfeit medicines investigated and handled by African countries every year, there is no data to prove who produced these counterfeit medicines.
Although Chinese medicines are gradually pouring into the African market, a huge share of the local medicine market is still occupied by Indians, and India is also a world-renowned producer of finished medicines.
"I have seen fake medicines that counterfeit China's Kotaixing, but I don't know if they are made in China, but I did come into contact with fake medicines from India and Nigeria," said Saigon-Oruba, a drug dealer from Nigeria. "Many fake pills are actually made of salt and flour!"
In the case of the proliferation of counterfeit drugs, people have also overlooked an important factor, that is, the desire to maximize the commercial interests of local African businessmen. Many businessmen from Africa go to pharmaceutical factories in various countries with packaging of genuine medicines, demanding to reduce the cost of purchases at the cost of reducing the ingredients of the medicines. What's more, they directly open black workshops to produce counterfeit medicines without medicine.
"I don't know what to say when I meet such a distributor and a counterfeit drug maker." Oruba said.
Faced with the huge threat of counterfeit drugs, African people who have jumped from the "wired network era" to the "wireless communication era" can actually easily use their mobile phones to participate in the fight against counterfeit drugs.
"If we have a sound serial number network system, African people can easily enter the serial number code behind the drug packaging to know whether the drug purchased is produced by a regular manufacturer," said Bright Simon, a company from Ghana is dedicated to advancing the CEO of the serial number verification industry company.
"However, the problem now is that most of the medicines in Africa come from Asia, not to mention the coordination and unification between several major Asian countries, such as India and China, and the verification of serial numbers even among different companies in a single market It has different needs and cannot be widely implemented," he said.


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Vivo has already impressed the global market with its Vivo X100 and Vivo X100 Pro models, which were launched a few weeks ago. However, the company is not done yet. It is reportedly working on a more premium and powerful device, the Vivo X100 Pro Plus, which is expected to be unveiled in April next year. According to a reliable leaker, Digital Chat Station, who posted on the popular Chinese social-media platform, Weibo, the Vivo X100 Pro Plus will boast a remarkable 200MP periscope telephoto camera that can achieve 10x optical zoom and up to 200x digital zoom.
The leaker claims that the prototype of the device is currently undergoing testing and it has a 4.3X optical zoom with a 100mm focal length, thanks to a large 1/1.5 inches sensor. The Vivo X100 Pro Plus will also sport a 2K resolution display and will be powered by the Snapdragon 8 Gen 3 SoC, which is the latest and most advanced chipset from Qualcomm. Additionally, an under-display fingerprint sensor that makes use of ultrasonic technology will be included in the smartphone to provide faster and more accurate verification.
The main attraction of the Vivo X100 Pro Plus will be its rear-facing camera setup, which will include a 50MP primary camera with Sony’s LYT-900 “one-inch type” sensor. This sensor is known for its exceptional low-light performance and dynamic range. The Vivo X100 Pro Plus will also have other cameras to support different modes and scenarios, such as ultra-wide, macro, and portrait. The Vivo X100 Pro Plus is still in the development stage and has not been officially announced by the company, unlike the Vivo X100 and X100 Pro. These two devices are powered by the Dimensity 9300 application processor from MediaTek, which has a configuration of four Prime Core Cortex-X4 CPU cores and four Cortex-A720 Performance CPU cores.
The Dimensity 9300 is a powerful processor, but it lacks any low-power Efficiency CPU cores like the Cortex-A520, which could lead to some thermal issues. However, this should not be a problem for the Vivo X100 Pro Plus, which will use the Snapdragon 8 Gen 3 chipset, which is more efficient and optimized. The Vivo X100 Pro Plus is also rumored to have a generous 12GB of RAM and 512GB of internal storage for the base model.


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2012 has been an average year for regulations, but it may end up
with far more than usual.
Young, fellow in regulatory studies at the Competitive Enterprise
Institute (CEI), reports that as of December 3, 2012, 3,392
final rules have been published in the Federal
"That's roughly on par with an average year, although … in the
last few weeks we've seen a little bit of a midnight rush
post-election while Congress is in its lame-duck session," Young
notes. "There are about 70 to 80 rules published in an average
week. Last week, there were 94, and this week, as of Tuesday, we're
already up to 33."
So he suggests the country could end up with as many as 3,800
final regulations this year.
"It really does affect everything, but it affects the energy
industry -- power plants that are powered by coal -- most
severely," the CEI regulatory studies fellow explains. "In the next
few months, EPA is going to pass regulations that will essentially
make it impossible to open a new coal-fired power plant. It's good
if you're a natural gas company, but it's very bad if you're a coal
Meanwhile, Young puts the total cost of federal regulation,
meaning everything that's on the books, at about $1.8 trillion.
"The trouble is that a lot of times agencies don't report what
their regulations cost," he tells OneNewsNow. "They don't have to
unless they're classified as being 'significant,' and that's only
about ten percent of rules. That number is about $24 billion for 46
All things considered, Young concludes that some rules are good
and some are bad. He is "just giving the numbers."
Impact of regs on food service industry
As for ObamaCare, it has been discovered that it
includes regulations that target certain classifications
within the food industry. A conservative commentator says they
will cost business owners billions to implement.
Restaurant and grocery store operators are about to get hit hard
due to President Barack Obama's 2,700-page Patient Protection and
Affordable Care Act. Section 4205 forces labeling regulations on
operators, which the FDA has taken and expanded even further.
Amy Ridenour, chairman of The National
Center Public Policy Research, points out that pizza makers
will especially be impacted, as they will be forced to detail
calorie and nutritional information about every product.
"They actually want a list of every possible combination a
person could order and the ingredients listed for that," Ridenour
explains. "And Domino's alone says that there are 34 million
potential combinations of their pizzas -- that would be a sign
that's 34 million items long. It's just not doable."
While Ridenour understands the motivation is to provide
nutritional information, she warns that the regulations are bad for
business owners and consumers.
"You're going to be in a situation where a business says
well, if I change my recipe, it's going to cost me a fortune in
signage, so they won't," the commentator poses. "So consumers
will have fewer choices. Nobody's better off, but that's not what
the regulators realize. They're just thinking [with] tunnel
The White House Office of Management and Budget estimates that
the paperwork burden on supermarkets and grocery stores will
require nearly 15 million man-hours and $69.8 million for
recordkeeping alone to comply with the new FDA labeling rules.


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1. Renewed growth in Vegas and Macau
Lowered demand for new gaming equipment, particularly in the U.S., has reduced IGT's revenue in the last few quarters as the company hasn't been able to sell as many machines as it once did. With barely more than half as many gaming units sold in the last quarter compared to the same time the previous year, IGT reported revenue decreased 19% year over year. Yet the company was still able to grow net income by 10%, and if sales can increase again, there is reason to believe that the company can be even more profitable than before. If so, the share price should respond favorably.
Can IGT get more sales? In Las Vegas, total gaming revenues have begun to pick up again and some analysts are calling this the comeback of Las Vegas. Gross gaming revenue there is nearly back to its 2007 peak. If gaming revenue in Vegas is picking up again, casinos will once again start expanding in Vegas (as is already happening with the started construction of the newest megaresort, Resorts World Las Vegas). With that, there could be renewed demand for gaming equipment from companies like IGT.
Las Vegas GGR ($US)
(Strip + Downtown)
And while Las Vegas revenues are improving, it's still Macau that is bringing in the most total gaming revenue. While no new major casinos were opened in Macau this year, 2015 and 2016 are going to be boom years for the island as each of the four big names in the gaming industry have resorts planned to open on the Macau Cotai Strip in the next two years.
IGT is hoping to get in on this Macau growth. In August, IGT signed a deal with local gaming company LT Game Ltd. of Macau. In the agreement, IGT will manufacture slot machines that LT Game will distribute in Macau. Additionally, IGT will do the same for LT Game's live and electronic table games in the U.S. and Canada.
2. Social gaming
IGT has been winning in its interactive gaming division, where revenue increased 15% year over year to $83.1 million in the most recent quarter, primarily because of DoubleDown Casino, a social gaming website that also operates through Facebook. This follows the upward trend that social gaming has been on the previous quarters.
With a growing smart device market and social network growth, as well as consumers getting more comfortable with online gaming, this could be a great position for IGT to be in going forward. By producing more online and social games, and managing a diversified and broad distribution network throughout the world, these interactive segment revenues could be a major win for IGT's bottom line, and thus share value.
3. The coming merger
IGT agreed to a buyout from Italian gaming developer GTECH S.p.A in July which, if it goes through as planned, is slated to bring IGT shareholders cash and stock valued at more than their IGT stock is worth today.
The companies will merge into a new company headquartered in the U.K. and trading in the U.S., likely under the GTECH name. The deal is not completed yet, and there are still hoops for the companies to jump through, however, progress on the deal looks promising and could be complete as early as Q1 next year.
As described by the companies, each share of IGT will at that time convert to a combination of $13.69 in cash, plus shares of the new company equal to $4.56. That $18.25 per share is about 8% higher than IGT's closing price on Sept. 24.
Foolish final bet: IGT shares might be on the rise, but that comes with risk
With increased potential for regrowth in Las Vegas and the boom of new casinos on the Cotai Strip in Macau, the growth of IGT's interactive and social gaming, and a likely immediate increased value that will come with IGT's shares converting following the merger with GTECH, shares of IGT could be going higher in the coming quarters.
However, there are still things to watch out for. IGT needs to prove that it is going to be able to start selling units again, and that it won't miss out on the boom in Macau and the regrowth in Vegas. Furthermore, the deal with GTECH is not complete yet, and without it, shares of IGT might not fare so well as investors would worry that IGT has yet another competitor back on the market. Therefore, IGT shares could rise, but it might be best to keep watching for increased sales and how well the merger actually works out.
Bradley Seth McNew has no position in any stocks mentioned. The Motley Fool recommends Facebook. The Motley Fool owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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The upward revision in gas tariff comes in contradiction of government’s commitment to ensure uninterrupted supply of gas and re-gasified liquefied natural gas (RLNG) to the industry at $6.5 per MMBTU, said All Pakistan Textile Mills Association (Aptma) Chairman Abdul Rahim Nasir.
Addressing a press conference at Aptma House, Lahore on Friday, he rejected the sudden hike in gas prices from $6.5 per MMBTU to $9 per MMBTU for export oriented units.
According to him, the Regionally Competitive Energy Tariff (RCET), implemented by the current government for the past three years, yielded outstanding results.
“The industry has delivered to the nation by investing Rs450 billion in machinery for capacity enhancement as per its commitment which resulted in an increase in exports by $500 million in each and every month in fiscal year 2021-22 so far,” he said. “However, the new projected investment of $5 billion, setting up of 100 new plants and creation of at least 500,000 new jobs will now be jeopardised.”
Nasir said the textile industry’s commitment to increase exports by $7.5 billion by the end of fiscal year 2021-22 over fiscal year 2017-18 has become a reality. He said that the present government’s visionary, progressive and pro-export policies enabled unprecedented textile export growth.
Citing figures, he highlighted that textile exports had surged by 27% in the first four months of the current fiscal year.
According to Nasir, a comparison of gas tariffs of the region with Pakistan, in a study conducted by PIDE, suggested that gas to the export-oriented sector was available at $4.05 per MMBTU in Bangladesh and $5.19 per MMBTU in India.
In the textile sector, the component of energy cost accounts for roughly 18% of final product value, he said.
“An increase of $2.5 per MMBTU would result in around 5% hike in the final cost,” he added.
Aptma Northern Zone Chairman Hamid Zaman, while speaking on the occasion, emphasised that the textile industry operated on a slim margin of 3-4% and the recent increase in the gas tariff would render Punjab’s industries uncompetitive and unserviceable not only for the global market but also locally.
Published in The Express Tribune, November 20th, 2021.


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This weekend, the province of Monte Plata will be the stage for the popular promotional platform Tourism in Every Corner, which is successfully carried out by the Ministry of Tourism as a way to promote each of the destinations and their diversified offer.
On this occasion, Tourism in Every Corner will take place on Saturday and Sunday at the Santo Cristo de los Milagros sanctuary in the municipality of Bayaguana, one of the most emblematic cultural and religious temples in the country and a provincial brand.
The popular promotional platform will present to the participating public, its interest in promoting domestic tourism to the local market, and with it the offer that complements these tourist territories, highlighting the crafts, culture, folklore and the gastronomic and culinary roots with which each Dominican destination is represented.
This promotional platform has the involvement of the main actors in the value chain of the territory, thus promoting sustainable management and development.
Monte Plata as a tourist destination, has a number of elements that make it be considered throughout the country as the “Emerald” province because its landscapes and mountain systems are always green throughout the year, allowing visitors to explore tourist experiences in natural spas, waterfalls, caves with subway rivers and rock art.
It also has architectural monuments from the time of colonization, magical-religious and cultural traditions linked to pre-Hispanic and colonial history.


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[quote]Microsoft is asking the U.S. Patent and Trademark Office to deny Apple a trademark on the name "App Store," saying the term is generic and competitors should be able to use it.
Apple applied for the trademark in 2008 for goods and services including "retail store services featuring computer software provided via the internet and other computer and electronic communication networks" and other related offerings. Apple launched its App Store for the iPhone that year along with its iPhone 3G. The store is now available on any device that runs the company's iOS software, namely the iPod Touch and iPad, and Apple introduced its Mac App Store earlier this month.[/quote/


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Gourmet grocer Lucky’s Market to anchor Forum shopping center
Lucky’s Market LLC, a growing Boulder, Colo., gourmet grocery chain, plans to open a 30,000-square-foot store at The Forum Center in the Hurstbourne Parkway corridor.
The chain, which currently has three stores and is expanding in the Midwest, specializes in natural and organic foods, locally grown produce, groceries and fresh meat and seafood, according to its website.
Lucky’s officials could not immediately be reached for comment.
But Richard Bell, co-managing partner of Atlanta-based Altus Real Estate Advisors LLC, compared the chain to Earth Fare Inc. Earth Fare is an Asheville, N.C.-based company that opened one of its markets last year at Paddock Shops, the former Summit Louisville shopping center.
Altus and Phoenix-based Arciterra Group LLC bought the Forum in late 2012 and have led an extensive renovation, rebranding and leasing effort at the nearly 140,000-square-foot center.
Lucky’s is scheduled to open at the Forum in April. It will be branded as Lucky’s Farmers Market in Louisville.
“We’re well under way” on the build-out of the store’s space, according to Bell. He said the grocery will have a “high-end” beer and wine section and outdoor seating.
Lucky’s currently has stores in Boulder and Longmont, Colo., and Columbus, Ohio, according to its website. In addition to the Louisville store, the chain plans locations in St. Louis and Columbia, Mo., and Billings, Mont.
Landing Lucky’s is one of several successes that the Altus-Arciterra partnership has had since taking over ownership of the Forum. It was half-empty when they bought it for just over $7 million from U.S. Bank N.A., of Irving, Texas.
John R. Karman III covers these beats: Economic development and government, commercial real estate, transportation, utilities, sports business, lottery, tourism/conventions, higher education, nonprofits, Jeffersontown, Downtown, Central Area.
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LED eyebrows like Scorpio could be introduced in the Quanto
Mahindra is working on the launch of the S101 currently and the entire focus is on the new small car which help the car maker enter in the compact segment. Another product Mahindra has been testing is the facelifted Quanto, launch of which has been delayed as the focus was on TUV 300 and S101 or XUV 100.
From the Spy pictures the shape remains unchanged and the UV gets new headlamps with LEDs similar to that found on the Scorpio, new grille and front bumper. The rear remains largely unchanged. Interiors could get some dose of new features and design elements similar to that found on the new Scorpio and Xylo.
The top variant will get Mahindra’s touchscreen infotainment system with voice command.
The Quanto facelift will be powered by the new mHAWK 80 three-cylinder diesel engine that produces 85bhp and 230Nm of torque offered on the TUV 300. Gearbox options are expected to include a five-speed manual as well as a five-speed AMT similar to the TUV 300.
The Quanto facelift could make its debut at the 2016 Auto Expo and could be launched soon after. Mahindra will be launching the S101 or XUV 100 in the third week of January just before the 2016 Auto Expo.
With Quanto facelift, Mahindra will have 3 new products to offer customers in the sub 4 segment.


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CHICAGO The pace of restaurant industry growth slowed in 2008, as the largest of chains faced a decline in consumer spending as well as increased cost pressures, according to new data from Technomic Inc. In the foodservice consulting firm’s annual report covering the largest 500 U.S.-based restaurant chains, the group posted an annual sales gain of 3.4 percent in 2008, down from an increase of 5.0 percent in 2007. The total number of units increased 1.8 percent in 2008, compared with ...
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AMC Theaters will require guests to wear masks following outcry from directors and filmgoers
Following an outcry from filmgoers and a number of notable directors, AMC Theaters has announced it will require guests to wear masks when the chain begins reopening venues next month.
“This announcement prompted an intense and immediate outcry from our customers, and it is clear from this response that we did not go far enough on the usage of mask,” the company said in a statement. “At AMC Theatres, we think it is absolutely crucial that we listen to our guests. Accordingly, and with the full support of our scientific advisors, we are reversing course and are changing our guest mask policy. As we reopen theatres, we now will require that all AMC guests nationwide wear masks as they enter and enjoy movies at our theatres. The speed with which AMC moved to revise our mask policies is a reflection of our commitment to the safety and health of our guests.”
Mike Flanagan, James Mangold, and JA Bayona are among those who criticized the initial decision by AMC Theaters CEO Adam Aron not to insist that all customers wear masks when watching a film. Aron announced the cinema chain's policy in the course of an interview with Variety which was published on Thursday.
“We did not want to be drawn into a political controversy,” said Aron.“We thought it might be counterproductive if we forced mask wearing on those people who believe strongly that it is not necessary. We think that the vast majority of AMC guests will be wearing masks. When I go to an AMC feature, I will certainly be wearing a mask and leading by example.”
"I worked at Cineplex Odeon in Bowie, MD through high school," Flanagan wrote later. "My first job, I loved it. Customers could be tough, some messes I cleaned were INSANE. And that’s WITHOUT the possibility of a customer giving you a potentially fatal disease to take home. AMC employees deserve better."
"Suggesting that 'mask or no mask' is a political one is pathetic," wrote Logan director Mangold. "It's public health."
Jurassic World: Fallen Kingdom director JA Bayona responded to the news with three facepalming emojis.


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TOKYO — A stunning turn of events occurred in the ongoing dispute between Sony and Microsoft over the latter’s acquisition of Call of Duty publisher Activision today, when Sony declared itself rubber and its opponents glue for the remainder of their legal dispute over the controversial merger.
“Your honor, if it pleases the court, I would like to point out that henceforth, anything [Microsoft] says will bounce off of us and will stick to them,” said Sony lawyer Chuck Holder in a hearing held today as part of the ongoing lawsuit concerning the potential deal.
“Not only would this merger give Microsoft an unfair advantage over the entire market, with its control over the most popular franchise in gaming and the ability to give us poopoo versions of it,” he continued. “It would also constitute a major violation of a previous ‘no takebacks’ agreement we all agreed to over pizza one night.”
Microsoft, in turn, offered a stark rebuttal to the latest allegation.
“Objection, your honor!” interjected Microsoft lawyer Brian Spearman. “Hearsay! Also, it takes one to know one!”
As of press time, the judge had ruled in Sony’s favor and ordered a short recess so that Microsoft could adjust to being made out of glue for the remainder of the proceedings.


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Attracting some of the thousands of bikers who descend on Volusia and Flagler counties for Bike Week is always a challenge for cities on the outskirts of the main activities.
HOLLY HILL — Whitney Van Horn has seen how Holly Hill welcomed her biker business with open arms.
Now she's hoping others will join her.
Attracting some of the thousands of bikers who descend on Volusia and Flagler counties for Bike Week is always a challenge for cities on the outskirts of the main activities. In years past, Holly Hill has staged an event called “Hogs on the Hill” that met with mixed results, ranging from a rowdy rally with concerts by Molly Hatchet to a scaled-back motorcycle vendor market last year.
Van Horn, the first female Boss Hoss Cycles franchise owner in the country, is hoping to bring something new to Holly Hill. The longtime Volusia County resident, who recently opened Beanie's Motorsports on Eighth Street in Holly Hill, is staging a Boss Hoss event in Hollyland Park.
“It will be a showcase,” Van Horn said.
Despite the lack of typical biker fare, City Manager Jim McCroskey is not only confident bikers will come to the event, he believes people will see the city's love for the automotive and motorcycle industry.
“People will start realizing Holly Hill is at the heart of Bike Week,” he said.
Even businesses in cities far removed from that heart rely on the boost that comes with Bike Week.
Flagler Beach City Commissioner Kim Carney said while there aren't many events in her city to draw in bikers, local restaurants and bars are dependent on their business. Restaurants like the Golden Lion and Oceanside Grill are already packed with bikers, she said.
“This week will probably get most of our businesses through July,” Carney said. “This is a make-it-or-break-it week.”
As Holly Hill catered to the biker crowd, McCroskey said motorcycle-related businesses have followed. In addition to Beanie's Motorsports, Freedom Cycles relocated to Holly Hill last year, and McCroskey said the city is in talks with another distribution center interested in relocating. The increased traffic also helps businesses like Sorrento Deli Restaurant, which has been in operation for nearly 26 years, said owner John Danio.
“Anything from the outside helps on the inside,” he said.
Though Port Orange doesn't have an organized event, city spokesman Kent Donahue said officials will be providing support for businesses that bring in biker crowds like the Last Resort bar. He added the city has several campgrounds that are used by bikers.
For a decade, DeLand has held a one-day biker rally that turns downtown into a one-stop shop for bikers. While the typical downtown scene wouldn't seem like a draw for motorcycle junkies, many of the antique shops do great business during the event, said Nick Conte, executive director of DeLand Area Chamber of Commerce. He recalled a biker last year who bought about $100 worth of collectibles from Dolls of DeLand.
“We always forget to remind ourselves that they're consumers just like us,” he said. “They want to eat something, they want to buy something — just like everyone else.”


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iSuppli has updated their cost estimate for the Sony PlayStation 3 console and claims the latest model costs Sony around $448.73 to manufacture. That's 35 percent less than the old model which cost $690.23, but it's still far from profitable as Sony sells these units for $399. This prevents Sony from cutting the price of its console, but iSuppli believes Sony may be able to break even in 2009 with new hardware revisions.
iSuppli's report, issued Monday, says that the current PS3 model contains 2,820 individual parts, including Nvidia's Reality Synthesizer, IBM's Cell Broadband Engine, and Toshiba's I/O controller, which are now made using 65-nanometer process technology, compared to 90-nanometer technology formally employed in the previous iteration. That has drastically reduced the PS3's power supply cost by 30 percent from $30.75 to $21.50.
Kionix's three-axis accelerometer in the PS3 controller has replaced the Hokuriku Electronic Industry Co. part, saving Sony an estimated $1.45 per unit.
But perhaps the most important cost savings is in the console's vaunted Cell processor from IBM. According to iSuppli, the latest PS3 includes a new version of IBM's Cell Broadband Engine, which is priced at $46.46 -- 28 percent lower than its original cost in the first-generation hardware. A new version of Nvidia's Reality Synthesizer, the console's GPU, at $58.01 per unit is now priced 30 percent lower than it was in the first generation.
Altogether, Sony's second-generation PS3 features a 35 percent total cost reduction from the first-generation model. In dollars and cents, today's PS3 costs Sony about $448.73 to produce, compared to the old model's $690.23 price tag. That said, the lower cost doesn't include software, box contents, and royalty expenses.


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Building a business, bean by bean
Honolulu Coffee Co. roasted and sold 90,000 pounds of beans last year at seven coffee bars on O'ahu, Maui and Guam — 20 pounds at a time.
And often sold it one cup of coffee or latte at a time, owner Ed Schultz says.
(The Honolulu-based company does sell some coffee by the bean for $13 a pound and up.)
The coffee from Honolulu Coffee bars hovers around $4 a cup with an array of pastries that include French macarons (yes, only one "o") that cost $1.75 each.
"Our coffee is a little bit pricier," Schultz said. He said the company works to keep quality up by roasting 20 pounds at a time compared to 200 pounds, as is more common for large coffee producers.
"The smaller the batch size, the more control you have," he said.
Now, the company does all the roasting in a 1,600-square-foot roasting facility at the upper level of Ala Moana Center and is building a second roaster at a Sand Island facility.
He's pleased that the company has been able to continue to grow by studying what's working well and using existing assets.
Most of the online reviewers on Yelp say the company offers a change-up from the average coffee bar with pastries that make it worth the price, but others complain about the prices.
Originally from Western Massachusetts, Schultz worked as an investment banker in New York City before turning to coffee.
His financial background included evaluating the buyout of Starbucks suppliers and competitors as well as a chai company and a biscotti business that pulled him further into the coffee trade.
In 2004, Schultz bought LatteLand in Kansas City, starting with a single cafe and expanding to six cafes, bringing in $3 million within three years. He first came to Hawai'i on vacation and eventually began negotiating in 2007 to buy Honolulu Coffee Co., a deal that closed in early 2008.
"I kind of fell in love with the concept of being able to market the origin of coffee," he said.
Schultz works with coffee growers across the state to use more Hawai'i-grown coffee beans and said he was able to roast 45,000 pounds of Island beans last year, half of the total served. The other half came from Latin America, Brazil and Sumatra.
"Every Friday, we serve 100 percent Kona Peaberry for the same price as we do our (regular) cup of coffee every day of the week," he said. The house blend is 25 percent Kona coffee.
He still owns LatteLand and goes back to Kansas quarterly.
Despite the recession, Hawai'i farmers have expanded coffee production throughout the state.
While Kona was the primary growing region, farmers are also growing coffee in Ka'ū and on Moloka'i, Maui, Kaua'i and O'ahu.
Schultz said the company has increased the amount of coffee sold from Kona and Maui by about 25 percent.
As of 2007, state Department of Agriculture officials said coffee ranked fourth among Hawai'i's diversified agriculture crops at $31 .9 million. Statewide, 830 farms planted 7,800 acres in coffee with most on the Big Island.
And he has found a hit with two pastry chefs: Ron Viloria, who is originally from Guam and worked with Sam Choy; and Hiromi Okura, who grew up in New York and worked for Chef Mavro.
Schultz said he measures the company's success by the employees who stay on. "We're successful when we reduce our turnover."
Schultz still loves coffee as much as when he first got into the business. His favorite is a wet macchiato — two shots of espresso and about 4 ounces of steamed milk.
"Now, I drink it slower and enjoy it longer," he said.


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The year 2007 will be remembered as a watermark for the area business community. Hundreds of jobs were lost when Springs Global closed the last of its textile mills in South Carolina in August, but hope for the future came a few months later when Freightliner announced its intentions to move 340 jobs to York County in 2008. The area also said goodbye to some of its most beloved figures in the business community and welcomed some fresh faces along the way.
Here's a look at seven superlatives for 2007:
Residents in the Cherry Road area were thrilled in 2007 when grocers Bi-Lo and Compare Foods opened new stores along the busy Rock Hill corridor.
Compare, right, a Hispanic grocer, opened in the old Winn-Dixie site near Cherry Park in August, and Bi-Lo closed its aging Northeast Plaza location for a state-of-the-art Super Bi-Lo at the former Rock Hill Mall and Catawba Bingo site. In addition to hiring more than 100 workers, both stores have received overwhelming public support from area residents clamoring for more grocery stores in that part of town.
• Honorable mention: Kohl's and Hobby Lobby opened retail stores in Rock Hill in 2007, giving the Galleria Mall area a much-needed shot in the arm.
Portland, Ore.-based truck maker Freightliner announced in November it plans to move 340 sales and marketing jobs to York County in 2008.
Local officials hailed the announcement as a "benchmark" for economic development in York County because Freightliner, the nation's largest maker of tractor-trailer trucks, will build an office off S.C. 274 near Lake Wylie, signaling the first premium office space built away from the Interstate 77 corridor. There also are rumors that Freightliner's plans eventually will include moving its entire headquarters to the 400-acre site.
Officials expect about half of the 340 jobs will be filled with local workers.
• Honorable mention: County leaders in September confirmed a deal is in the works to bring a Rooms To Go distribution center to Rock Hill's old Celanese site. If finalized, the deal would bring up to 600 jobs over the next several years.
While 2007 saw several large layoffs, it failed to welcome similar hiring waves. Instead, several small niche industries and the expansion of existing companies soaked up the losses.
Air compressor manufacturer AtlasCopco moved its headquarters to Rock Hill in 2007, creating about 150 new jobs. In the spring, L.A. Darling Co., a firm that refurbishes clothing racks, opened a plant in Rock Hill and hired 50 workers. And the Ross distribution center in Fort Mill expanded into another building and expanded its work force by 80 employees.
Springs Global cut about 750 jobs in 2007 when it closed its remaining South Carolina manufacturing sites in Fort Lawn and Lancaster and shipped the jobs to Brazil. The Close plant in Fort Lawn and the Grace Finishing plant in Lancaster County shut down in late summer, ending the Fort-Mill based textile maker's 120-year manufacturing presence in the state.
• Honorable mention: Wells Fargo Home Mortgage in March laid off 250 workers from its Fort Mill office because of a slumping housing market. Many workers were offered jobs in other arms of the company. Wells Fargo remains one of the county's top employers.
Leiner Health Products' Fort Mill manufacturing plant abruptly ceased production and laid off more than 600 workers in 2007 after an FDA investigation crippled the California-based company.
A whistle-blower inside the company notified the FDA of manufacturing guideline violations at the Lakemont Business Park site in January. The investigation brought to light an apparent cover-up where the company falsified test data and allowed tainted over-the-counter drugs to remain on store shelves, according to FDA documents. Company officials later blamed workers in Fort Mill and recalled all of its over-the-counter medications. It still has not re-entered the over-the-counter market, and the Fort Mill site is used only for distribution.
Carowinds Boulevard brushed up on its Spanish in 2007 as an Atlanta developer purchased the former Crossroads Mall, spent millions renovating it and in December opened Plaza Fiesta, a Hispanic-themed marketplace of chain retail stores and small businesses.
Plaza Fiesta gave York County a new shopping niche, with its Latin American marketplace design and a place for the area's growing Hispanic population to open small ethnic shops.
Operations Manager Roel Lopez, below, talks on the phone at the opening. The area behind him was the former Carolina Pottery store.
Three influential members of the area's business community said their goodbyes in 2007: Springs CEO Crandall Bowles, Rock Hill contractor Jimmy Leitner and Herald editor Terry Plumb.
Bowles retired in August 2007 after guiding the public sale of her family's textile company on the Brazilian stock exchange. She will be remembered as the last of five generations of the Springs family to captain the company.
In August, Leitner, owner of Leitner Construction Co., succumbed to cancer at age 61. Well-respected throughout the community, the Chester native's company was involved in building many of Rock Hill's landmarks from Glencairn Garden to several structures at Winthrop University.
Plumb, the longtime editor of The Herald, retired in March after 20 years leading the area's local daily newspaper. Plumb oversaw the paper's transition to morning delivery and direct competition with the Charlotte Observer in 1988. Plumb continues to write his Plumb line column on Sundays. He was replaced by managing editor Paul Osmundson.


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ABUJA- This story demonstrates that although it is illegal to import used clothes into Nigeria, UK exporters continue to contravene the law by doing the contrary which is now polluting the country's ecology. It demonstrates how UK exporters provided Nigerian vendors with low-quality, deteriorating clothing, forcing them to burn unsold items in public.
The story revealed that despite the fact that it is explicitly mentioned on the Nigeria Customs website, the Customs have continued to turn a blind eye to these illegally imported goods, leaving second-hand apparel to fill every nook and cranny of the third-world country's markets.
This investigation also reveals that second-hand clothe vendors in Lagos, South-West Nigeria and Abia, South-East Nigeria's, suffer the worst hit because the money required to pay for the products seldom generates a return, leaving these vendors to keep accruing debt. Due to the numerous debts accumulated as a result of the purchase of worn-out clothing, some traders have also quit the trading.
It also emphasizes the effects of such traders' goods and how they would affect tax payments, causing the nation to lose money because some of these commodities are smuggled in illegally.
Although some second-hand clothing traders in Nigeria declined to comment because the importation of such goods is illegal, the reporter was still able to speak with a few of these traders, including exporters, to learn how second-hand clothing is purchased, who their main suppliers are, and what country their goods are imported from. All vendors asserted that their products were sourced from the UK; significant exporters of used apparel to Nigeria included Scots, Hottest, and Wilcox.
- Second-hand clothes from UK causing pollution in Nigeria and Ghana, News Wire NGR, 29/09/2022
- UK Imported Second-hand Clothes, Causing Pollution in Nigeria and Ghana, Secrets Reporter, 01/10/2022
- UK-Imported Secondhand Clothes, Causing Pollution In Nigeria, Ghana, All Time Post, 28/09/2022
- How used clothing from the UK is fueling Ghana’s environmental crisis, iWatchAfrica, 13/10/2022
- UK’s second-hand clothing pollutes African nations, The Ferret, 27/10/2022
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Android Lollipop contains a hidden Flappy Bird clone. Here's how to find it and destroy your productivity.
Walmart's $25 streaming stick undercuts the competition's prices by a good margin.
California ditches a newly instated policy that required rideshare drivers to register their cars as commercial vehicles.
Android's quick responses let you send a text message to a caller when you can't answer the phone. Customize them quickly and easily.
The country's government wants Twitter to block a newspaper's account after it published details on a secret government investigation.
The purported deal may cost Google less than $100 million, according to TechCrunch.
Major TV makers and content producers team up to make 4K HDTV matter.
Twitter looks to team up with publishers to display ads on other websites.
PC gaming isn't dead yet, and Steam's explosive growth in the past two years is proof.
Verified Twitter accounts can request access to new video publishing tools; the rest of us will have to wait.
What was it for you—Kitten Jam? The Ice Bucket Challenge? Relive some of the hottest happenings on the Internet from the past year.
Seth Rogen and James Franco's latest film becomes a hit on legal streaming sites—and torrent sites as well.
Goolge experiments with bringing spoken commands and questions to Chromebooks, and Dev Channel users can take it for a spin.
It sounds like something out of old spy movies, but it isn't.
Cortana, taskbar tweaks, and an updated titlebar for Modern UI apps are among the highlights of the leaked Build 9901.


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Costa Rica Hosts Conference on Aeronautic Technology
The latest advances in the aeronautics industry were the subjects at hand Monday during the first day of a conference in Costa Rica uniting representatives from Latin America and Spain to share information.
The goal of the five-day event is to improve and update equipment and optimize air services in the region, according to the Public Works and Transport Ministry (MOPT).
The initiative is supported by the governments of Costa Rica and Spain and emphasizes innovation, development and research of aeronautic technology.
Aeronautics experts came to Costa Rica from Mexico, Paraguay, Argentina, Brazil, Panama, Cuba and Haiti.
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After teasing the audience with 276 little white boxes, Oprah told them: "If your box has a key, you will be the last person to get one of those cute little G6s."
It didn't take a long to realize that everyone had a key in their box. The crowd's joyous squeals were deafening as Oprah pointed and screamed, "You get a car! You get a car! You get a car! You get a car! Everybody gets a car!"
Watch Oprah's famous car giveaway:
Of course, the excitement was short lived. A week later, CNN Money reported that pesky tax laws would ruin the fun: The brand new Pontiac models given away on the show had a sticker price of $28,500, which would need to be claimed as income. That income would be taxed and, depending on the recipient's tax bracket, the "winner" would have to fork over as much as $7,000 to Uncle Sam.
At the time, Oprah's Harpo Productions said winners could keep the car and pay the tax, sell the car and pay the tax with the profits, or forfeit the car completely.
One winner who decided to sell the car was Kiley Russell. A recent update on Oprah's OWN show "Oprah: Where Are They Now?" highlighted Russell, who sold her G6 and used the money to start her own business, a makeup line that includes an Oprah tribute lipgloss called Angel's Halo.
"I decided to sell the car and use that as seed money to start Big Girl Cosmetics," Russell said. "Since [Oprah] gave us our start, and she was my angel, I thought it'd be nice to offer a tribute to her."
After calling Macy's every day for two years, Russell's dream came true when the department store chain came calling back and ultimately started carrying her line. In the end, Oprah's gift turned out to be the gift that keeps on giving.
In 2012, Inside Edition tracked down some other of the winners of the infamous G6s.
Winner Molly Vielweber said she lets her daughter drive her car -- which still boasts an original Oprah license plate -- and sometimes her daughter sees people taking pictures of the car while she's driving it. But another winner, Tricia Nester, immediately sold her car for $23,000, after logging a mere 15 miles on it.
Meanwhile, tax implications didn't stop the car-happy host from gifting. By 2010, when Oprah gave away the not-yet-introduced 2012 VW Beetle to yet another audience, the tax issues weren't taxing to the winners. According to the New York Post, Harpo said that the show made "a good faith estimate of the tax due for each audience member" and paid the bill on their behalf.
Now, nearly a decade after that iconic G6 gift, it appears that Oprah is still being a fairy car-mother even though she no longer has a daily chatfest. During an appearance last month on "Jimmy Kimmel Live," she randomly picked a woman in the audience to receive a brand new Ford Fusion Energi.
Kimmel's wife Molly McNearney, who's a head writer on the show, told TV Guide that producers arranged to get the car in a nod to that iconic moment from her old TV show, and then ran the idea it by Oprah. "We came up with the idea of her giving away one car, and she loved it," McNearney said. "She liked the idea that she was overcome with this affliction and that she had to shake it out of her system. She just wanted to randomly select someone. So she did."
Indeed, after Oprah surprised the stunned audience member, she told Kimmel she can't help herself. When Kimmel asked her how often this car giveaway stuff happens, Oprah said, "I don't know what comes over me. Every once in a while, it just happens, especially when I skip lunch." (The show dubbed her spontaneous car giveaways a "debilitating condition.")
As for the Pontiac G6, the car was discontinued in 2010, so clearly not everything Oprah touches turns to gold. In fact, some things even turn to "sold."
Check out Oprah's Jimmy Kimmel car giveaway:
"Oprah: Where Are They Now?" airs Sundays at 10 p.m. on OWN.
More from this contributor:
- Arts & Entertainment
- Oprah Winfrey


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Chuck Gnome is on sale until 8/25 for $0.99! Get it now before the price goes back up with the next update that includes new levels, music, and more!”
The price drop is the perfect opportunity to get the full game now in anticipation of Chuck Gnome’s first
major update, coming soon. Chuck Gnome 1.1 will add a new episode, new music, a new mini-game and
new targets and achievements.


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2019 Fall Fashion: A Cowboy Disruption
You don’t have to look long to find influences from the wild west in today’s fashion trends. The cowboy look is back, and we’re not talking about just the fabric and fluff.
Cultural influences have played a large part this season. For one, the cowboy culture is more inclusive than ever before. This summer’s record-breaking success of rapper Lil Nas X’s “Old Town Road” proves that a cowboy song released by a rap artist can be wildly successful. There are other musical examples, too, in Solange’s “When I Get Home” and Mitski’s “Be the Cowboy.”
Clearly, the cowboy ethos is no longer solely the domain of straight, white men, if it ever was. In 2017, Smithsonian Magazine reported that about a quarter of all cowboys were black, despite their portrayal in popular cinema. On social media, fashion archivist Bri Malandro coined the term “the yeehaw agenda” to describe the marriage of country-western style and black women’s fashion.
Marginalized groups are using the western aesthetic to prove that anybody can occupy that cowboy space, according to Denison University visiting instructor Terrance Dean, a former MTV executive. Dean cites figures such as John Wayne, Ronald Reagan and even Donald Trump as embodiments of the traditional cowboy masculinity.
“I think we have not fully explored the breadth and the elasticity of masculinity,” Dean says. “What we have become very centered on is this idea that masculinity comes one way, one size fits all. And I think … women of color and the LGBT community are pushing these boundaries.”
The #MeToo movement and continuous online discussions of toxic masculinity may also be impacting the moment. “I think women … are taking back their own power, and I think the cowboy is just a personification of strength,” says Cindi Turnbull, costume designer and fashion history professor at Denison. “A cowboy hat makes you feel strong.”
Meanwhile, even straight men can relax their standards with today’s cowboy style. Floral shirts, flowing hair and graphic jackets are tools that test fashion fluidity for anyone paying attention.
For decades, denim-clad gunslingers rode horseback across silver screens all over the world, embodying independence, stoicism, tenacity, freedom and, above
all, machismo. For better or for worse, they reflected an America that saw itself as both a dominating world power and a scrappy underdog.
Living in an age of disruption, the cowboy image is next up for reimagination. Some say fashion is a performance, so don your hat and bandanna this fall as fashion becomes an all-American celebration.
About the Setting
This photo shoot was scheduled at the Ohio Theatre to salute the glamour of one of Downtown’s most historic buildings. This year is the 50th anniversary of the formation of the Columbus Association for the Performing Arts, which was created in 1969 to save the ornate Ohio Theatre from destruction.
Anne Dornan, one of the first women to graduate from the Columbia School of Architecture, chose the art and furnishings for the new Ohio Theatre, even going on a safari to find appropriate decorations for an African corner that was located in the lower lounge. It is estimated that approximately $1 million was spent on art and furnishings for the theater, including several chandeliers. The theater was designed in the Spanish-Baroque style by architect Thomas W. Lamb, a native of Scotland who lived in New York and designed early movie houses for Loews Theatres and others across the country.
The Ohio Theatre’s new addition was added to the east side of the building in 1984, providing a larger lobby space, rehearsal space and additional CAPA office spaces.


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What first began as a small gathering of the RV industry and the National Highway Traffic Safety Administration (NHTSA) officials, has grown into one of the signature events during RVs Move America Week. The NHTSA visit uniquely positions the RV industry to establish and cultivate a strong and critical working relationship with the agency.
The visit focuses on education - NHTSA educates the industry on compliance responsibilities and the industry alerts NHTSA to the unique nature of the RV industry that affect safety identification processes and recall administration.
What makes the NHTSA visit a success is the participation of RV Industry Association members. The event will take place on Tuesday, June 4 during RVs Move America Week. If you have not registered for the event, there is still time!
“The RV industry has worked hard to repair and maintain our reputation with NHTSA over the last five years through events like this and our annual NHTSA seminar,” said Thor Industries Senior Director of Vehicle Safety and Regulatory Compliance David Mihalick. “Although the visit to NHTSA is just a small part of the advocacy events, it provides RV Industry Association members with the chance to meet key agency personnel who deal specifically with the RV industry on a daily basis. These interactions and personal contact reduce the fear many have of NHTSA and encourage open dialogue with the agency in the event a situation arises where their help is needed.”
To learn more about the NHTSA visit, contact Kyle Correa-Brady at [email protected].


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11 November 2015
The second, annual China Pink Market Conference opened in Shangai earlier this week.
One of the highlights of the conference was the release of details of the 2015 China LGBT Community Report.
The report aims to provide guidance for companies wishing to explore the LGBT Pink Market in China. Completed in September, it drew upon almost 19,000 responses (up from 8,000 in 2014). Its authors believe it to be the biggest survey of LGBT people in the Asia Pacific area.
Key findings from the LGBT Report include:
- Over the next five years, one out of three LGBT Chinese plan to ‘come out’ to more people, while nearly half remain undecided, and one out of four have no plans to reveal their identity.
- Outbound international travel for the LGBT community has risen slightly in the past year, up from 17% in 2014 to 19% in 2015. Hong Kong, Macau and Thailand remain the top three popular destinations within Asia, with the US the most popular outside Asia.
- More than 50% of those questioned said that they were single. A similar number said they hoped one day to marry a person of the same gender. Around 20% said they preferred to be single, while 5% said that a marriage of convenience would be their ideal.
- Same-sex marriage is not legal in China, but 70% expressed interest in exploring marriage overseas while 30% expressed interest in overseas surrogacy arrangements.
- Twenty-two percent of those questioned said that they were ‘doing great’ financially, up from 19% last year. However, the number who reported doing poorly financially also rose, from 21% to 29%.
- Forty-eight percent said that corporate support for LGBT causes and policies had an impact on their purchasing decisions.
- ‘Family pressure’ was the number one concern of 77% of respondents, followed by such issues as coming out and societal recognition, AIDS and other illnesses, legal protection, and workplace discrimination.
The China Pink Market Conference is organized by local LGBT advocacy group WorkForLGBT, in collaboration with market research company YouGov, websites and dating apps Dan Lan/Blued and The L, and public relations firm Weber Shandwick.
It would seem as if Chinese Big Business softened its previous hard stances against LGBTI equality after the US Supreme Court announced its landmark ruling on same-sex marriage in June earlier this year.
According to reports many Chinese companies for the first time started advertising campaigns targeting LGBT consumers, and the concept of a “Pink Market” began to become popular and accepted in China after this time.


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Inter Parfums, Inc. reported its sales rose 18 percent in the second quarter ended 30th June, 2021.
SEE ALSO : Kontoor Brands announces financial results
In light of the near cessation of business in the second quarter of 2020, the Company is comparing its current midyear results with those of 2019. For the first half of 2021, net sales rose 18 percent to US$406.1 million from US$344.5 million in the same period of 2019.
At comparable foreign currency exchange rates, net sales rose 16 percent. Year-to-date net income attributable to Inter Parfums, Inc. rose 61 percent to US$50.3 million compared to 2019’s US$31.2 million.
For the six months ended 30th June, 2021 and 2019, diluted earnings per share were US$1.58 and US$0.99, respectively, for an increase of 60 percent. The average U.S. dollar/euro exchange rate was 1.20 and 1.13 for the six months ended June 30, 2021 and 2019, respectively.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “Once again, last year’s outbreak of the COVID-19 pandemic and the business conditions that ensued make comparisons with the very depressed second quarter of 2020 mostly irrelevant. Far more meaningful is a comparison with the second quarter of 2019 and the operating leverage resulting from the nearly 25 percent increase in net sales in 2021.”
He continued, “Through the first half of 2021, sales in our largest market, North America, rose 59 percent compared to the same period in 2019, while sales in Western Europe and Asia approximated those of the first half of 2019. Two of our smaller markets, Eastern Europe and Central and South America, experienced sales growth of 54 percent and 10 percent, respectively, over the first half of 2019. The only region where sales declined was the Middle East, by 23 percent to be precise. Similarly, there has been growth of our four largest brands. In the first six months of 2021, Montblanc, Jimmy Choo, Coach, and GUESS brand sales rose 3 percent, 39 percent, 34 percent and 58 percent, respectively, compared to the first half of 2019. In the first half of 2019, the debut of Montblanc Explorer caused a surge in brand sales, which helps explain the modest increase in Montblanc brand sales in the current first half.”
Discussing recent events, Mr. Madar highlighted the signing of a transaction agreement for the exclusive worldwide license for the production and distribution of Ferragamo brand perfumes. Subject to certain conditions, the 10-year license is expected to start in October 2021 and has a 5-year optional term.
“We will operate through a wholly-owned Italian company, based in Florence, with both legacy and newly created entrants produced in Italy. Once the business and existing inventory are transferred to us, we will be in a better position to estimate the contribution Ferragamo fragrances will make to 2021 sales. With our flexible business model, strong balance sheet, global distribution network, and committed staff, our pursuit of additional license agreements continues as we focus on established brands whose owners are seeking to reinvigorate their fragrance business. While there can be no assurance that any agreements will be finalized, adding select brands to our portfolio remains a high priority,” said Mr. Madar.
Mr. Madar concluded, “The rollout of products unveiled over the course of the first half continues. These include Montblanc Explorer Ultra Blue, I Want Choo for Jimmy Choo, Coach Sunset Dreams, the Kate Spade signature scent, Rochas Girl, Alibi for Oscar de la Renta, Bella Vita for GUESS, Away by Abercrombie & Fitch, Canyon Escape for Hollister and Driven by Dunhill. Of special note, the MCM genderfluid fragrance that we introduced in first quarter continues to dazzle. With orders nearly triple our initial first year expectations, we have had to refill the pipeline several times to keep pace with sales. Brand extensions dominate our new product pipeline for the remainder of the year, including flankers for Jimmy Choo Urban Hero, the Oscar de la Renta Bella family, the Hollister Wave collection, and the Anna Sui Fantasia pillar. We recently debuted Effect, a full suite of men’s grooming and fragrance products under the GUESS label.”
Russell Greenberg, Executive Vice President and CFO noted, “The slight decline in second quarter gross margin compared to the same period in 2019 is primarily attributable to a weaker dollar and its effect on European operations. In the current second quarter, gross margin for European operations was 67 percent compared to 68 percent in the same period in 2019. Gross margin for U.S. operations was 53 percent, up from 52 percent in the second quarter of 2019. Once again, sales rose at a faster rate than we had expected, as was the case in the first quarter. As a result, 2021 second quarter promotion and advertising expenditures, included in S, G & A expense, of US$33.2 million or 16 percent of net sales, were well below what we would typically spend in a quarter when sales exceeded US$200 million. By way of comparison, in the second quarter of 2019, promotion and advertising expenditures were US$36.4 million or 22 percent of net sales of US$166.2 million. For the year as a whole, we continue to expect promotional and advertising expenses to approach historical levels of 21 percent of net sales.”
Mr. Greenberg also noted, “Our 2021 second quarter and year-to-date bottom lines were negatively impacted by two items. The first is interest expense incurred in connection with the borrowings related to the April 2021 acquisition of the future headquarters of our Paris-based 73% owned subsidiary, Interparfums SA. The second was an unusually high tax rate, which factors in a global tax settlement with the French Tax Authority covering the period 1st January, 2010 through 31st December, 2020 relating to a
wholly-owned subsidiary of Interparfums SA.”
Mr. Greenberg continued, “We closed the second quarter with working capital of US$461.7 million, including approximately US$298 million in cash, cash equivalents and short-term investments, and a working capital ratio of 3.1 to 1. The US$133.2 million of long-term debt relates to the previously mentioned headquarters acquisition, which was financed by a 10-year approximately US$143 million bank loan.”
“Approximately US$93 million of the variable rate debt was swapped for fixed interest rate debt. Cash provided by operating activities aggregated US$38.1 million for the six months ended 30th June, 2021,” added Mr. Greenberg.
Mr. Greenberg concluded, “The uptick in COVID-19 cases and the highly transmissible Delta variant could change our expectations, but based upon year-to-date results, and current order levels for the second half, we continue to expect 2021 net sales of approximately US$750 million, resulting in diluted net income per share of US$1.95.”
Guidance assumes that the average dollar/euro average exchange rate remains at current levels, there is no significant resurgence of the COVID-19 pandemic and excludes potential Ferragamo fragrance sales following the closing of the pending transaction.