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Monday, July 30, 2012
Here at the Weekly World Offices, we have a constant reminder of the glory days of Lisa Frank here in town: the street our building is on turns into Lisa Frank Drive on the other side of Valencia, although sadly, my window doesn't provide a view of the unicorns and dolphins painted on the side of her giant half-empty building south of us. However, the world hasn't heard too much from Frank herself since her heyday, but somehow The Daily got an interview with Frank, in which she compares herself to Michael Jackson and discusses her latest plan for pink-painted world domination:
“In my own little way, I understood Michael Jackson,” Frank told The Daily in a rare interview, conducted by phone from her company’s sprawling heart-and-star-plastered headquarters in Tucson, Ariz. “I feel really bad for people who’ve had to live under so much paparazzi. We think about it a lot, how well known the name is, but I’m very, very low-key.”
A fifty-something divorcee and mother of two teenage sons, Frank has largely shut out the media since launching her eponymous line of stickers in 1979. Those stickers eventually became an empire of unnaturally hued, surreally adorable school supplies, novelties and crafts. In 2005, Lisa Frank Inc., a private company, declared revenues topping $1 billion over 15 years. “If I use my credit card... and they go, ‘Oh my gosh, there’s Lisa Frank who makes the stickers! I go, ‘Isn’t that the craziest thing that I have the same name?’” she giggled.
To the delight of fans (see: LisaFrankParty), she broke into apparel last year, selling airbrushed denim skirts and pom-pom sweaters priced under $20. But after a kindred-spirits collaboration with tattoo-print enthusiast Ed Hardy, Frank dreams of affordable partnerships with more formidable fashion figures like Mary-Kate and Ashley Olsen, or Missoni.
“America likes black,” Frank lamented, pretending to cry. “The only one that I see that’s really doing color is Missoni and, yes, I’m fortunate enough to be able to afford it, but what about the normal working woman?”


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Coca Cola invests Sh2.6b in Kenya to diversify from soda
Global beverage maker Coca Cola has announced plans to inject Sh2.6 billion into the Kenyan market to diversify its product range.
In the new strategy, the soft drinks maker plans to move away from concentrating purely on sodas and other carbonated drinks as customer tastes change.
The soft drinks market has become highly competitive with new entrants etching away market share from Coca Cola.
Coca Cola President for Europe, Middle East and Africa Brian Smith said the change in tact would include the introduction of more low and no sugar options and drinks in emerging categories.
“We no longer see ourselves as just a soda manufacturing company, the Coca-Cola Company has grown to be bigger than brand Coca-Cola,” Mr Smith said.
Soda sales have been dropping as health conscious consumers look for alternatives.
Bidco Africa has recently ventured into the juice market while local producer Kevian has expanded its Thika plant to boost production.
The Sh2.6 billion has so far been in invested on a new juice line used to produce the Minute Maid brand.
Apart from juice, Coca Cola is also the largest bottler of water in the country.
Further investments will include the manufacture of packaging material such as glass in Nairobi, Mombasa and Nyeri.
Coca Cola projects it will have invested Sh9.2 billion in the Kenyan market between 2016 and 2018.
Mr Smith, who is on a tour of the Kenyan facilities, said with changes in innovation and customer tastes, the firm, would continue striving to maintain its market leadership.
“In 2016, we embarked on a transformational journey, as the leader of the beverage industry that places our stakeholders and consumers firmly at the center of our business strategy. This is important if we have to grow responsibly,” he said.
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Odds and ends from the news and reader emails …
Mayor Bloomberg is at it again
Hizzoner in New York City seems to think he was elected Chief Food Nanny. A couple of years ago (geez, time flies!) I wrote about his moronic assault on salt (which isn’t based on anything resembling good science, never mind good policy).
Now Hizzoner wants to ban the sale of large sodas – you can guess why:
New York City plans to enact a far-reaching ban on the sale of large sodas and other sugary drinks at restaurants, movie theaters and street carts, in the most ambitious effort yet by the Bloomberg administration to combat rising obesity.
The proposed ban would affect virtually the entire menu of popular sugary drinks found in delis, fast-food franchises and even sports arenas, from energy drinks to pre-sweetened iced teas. The sale of any cup or bottle of sweetened drink larger than 16 fluid ounces — about the size of a medium coffee, and smaller than a common soda bottle — would be prohibited under the first-in-the-nation plan, which could take effect as soon as next March.
Remember when McDonald’s was under pressure (from Morgan Spurlock, to name just prominent one busybody) to get rid of super-sized meals? They did – seven years ago. Boy, the nation sure got thinner and less diabetic, didn’t it?
No, of course not. That’s because the idea that large drinks and large meals sold by vendors are the root cause of obesity is based on a flawed theory: we eat too much because others serve us too much.
That’s not how it works. We eat (and drink) to match our appetites. One of the obese people Spurlock interviewed in Super Size Me said he fills his traveling Big Gulp cup six times per day. Ban 7-11 from serving someone like that a 44-ounce drink, and he’ll just make more trips to 7-11. Or he’ll buy a 2-liter bottle at the grocery store and carry it with him. Soda addicts will get their fix, period.
I suspect the law of unintended consequences will kick in, too. Restaurants and convenience stores will offer 2-for-1 specials on sodas, and the soda addicts will buy themselves two (or three, or four) drinks that meet Hizzoner’s limit on cup size. Then a year or so after the big-cup ban sets in, New York newspapers will be running articles on the sudden and unexplained rise in empty cups and bottles littering the streets.
But here’s the biggest reason the ban is stupid: it’s none of Mayor Bloomberg’s business how much sugary soda you drink. I’d urge you to drink none at all, but that should be your decision … not mine, or his, or anyone else’s.
Nope, it’s still HFCS … not “corn sugar”
The FDA has denied a petition by the Corn Refiners Association to legally change the name of high fructose corn syrup to corn sugar. Frankly, I don’t care either way. Poison is poison, no matter what you call it. The mystery to me is why the Corn Refiners think renaming their product will make a difference. I can only guess they assume most people are stupid.
“Marge, don’t order that! It’s full of high fructose corn syrup! Don’t you know what people say about that stuff?”
“But this brand is sweetened with corn sugar.”
“Oh … well in that case, order me one too.”
Obese and homeless
In his books and lectures, Gary Taubes has pointed out that poverty and obesity are often found in the same populations … so much for the popular idea that we’re fat because we’re too prosperous. Apparently even the poorest of the poor in America have a high rate of obesity, according to this CNN article:
While the popularized image of a homeless individual is one of skin and bones, a new study shows the reality is not so. One in three (32.3%) homeless individuals in the United States is obese, highlighting a hunger-obesity paradox.
The paradox is that hunger and obesity can exist in the same person. And although a person may be overweight or obese, he or she can lack proper nutrition.
Nutrition is a daily challenge for homeless people, as the foods they manage to get are often full of preservatives and high in sodium, fats and sugars. They may not have access to healthier options like fresh fruits and vegetables.
Here we go with the fruits and vegetables will solve the obesity problem nonsense again. I give it maybe five years before the federal government has stepped in to ensure that absolutely every American has easy access to fruits and vegetables – and we’ll be just as fat.
By the way, a friend of mine once handed an apple to a homeless guy in Chicago. The guy cursed at him and threw it in the street. He didn’t want an apple; he wanted a couple of bucks so he could buy a bottle of cheap liquor.
The human body might be hoarding calories, as an adaptive response when people do not consistently have enough to eat. The body’s response could contribute to obesity, by “becoming more efficient at storing more calories as fat,” according to the report. Also, people who are homeless are more likely to suffer from a lack of sleep and high stress, which contribute to obesity.
Now we’re getting somewhere …
“It just mirrors what Americans look like in general,” said Barbara Dipietro, policy director of the National Health Care for the Homeless Council. “It follows the homeless in general. They are more economically driven. They are intact families and people who are coming into homelessness, who don’t come with behavioral health issues. When we look at the homeless population, we think they’re different, but they’re like everyone else.”
Uh, no, they’re not. As much as homeless advocates (and Hollywood film producers) like to portray the majority of the homeless as people just like you and me who happened to hit an unlucky streak, that’s simply not the case. Most are addicts or mentally ill. An estimated one-third are schizophrenics. But that’s another issue.
“Nutritious food is really expensive compared to other food choices,” she said. “If you’re living on food stamps, on disability or safety net, or living on nothing, that’s the food you’re going to have to get. A salad is not in the cards.”
It doesn’t take salads to make fat people thin, Ms. Homeless Advocate. But I agree about the cheap food. I served meals in a homeless shelter in Chicago when I lived there, and the food was mostly carbs, carbs and more carbs. Pasta was on the menu several times per week, bread was on the menu every night.
Or it could just be that the homeless are choosing too much highly-palatable food.
Shoe company sued for health claims
Boy, the U.S. government is really cracking down on unfounded health claims:
Skechers advertised that its toning shoes would help people lose weight, build muscle and get in shape, claims that will now cost the company $40 million in a settlement with U.S. regulators.
The Federal Trade Commission announced today that the company has agreed to the settlement on charges that it “deceived consumers by making unfounded claims” about its Shape-ups, Resistance Runner, Toners and Tone-ups lines of shoes. Consumers who bought the shoes are entitled to refunds.
“Skechers’ unfounded claims went beyond stronger and more toned muscles. The company even made claims about weight loss and cardiovascular health,” David Vladeck, director of the FTC’s Bureau of Consumer Protection, said in a statement. “The FTC’s message, for Skechers and other national advertisers, is to shape up your substantiation or tone down your claims.”
So … does mean the FTC is going to sue all the companies promoting healthywholegrain cereals? Or the pharmaceutical companies pushing statins for women and elderly? Talk about unfounded health claims.
Better yet, how about if the FTC sues the USDA for its lousy and unfounded dietary recommendations?
The Institute for Justice takes on the Cooksey blogger case
Yes! Yeee-har! The Institute for Justice, a pro-liberty legal group, is coming to the aid of Steve Cooksey, the blogger who was targeted by North Carolina after some dietitians complained about him giving out dietary advice without a license. Here’s part of their online announcement:
Can the government throw you in jail for offering advice on the Internet about what food people should buy at the grocery store?
That is exactly the claim made by the North Carolina Board of Dietetics/Nutrition. In December 2011, diabetic blogger Steve Cooksey started a Dear Abby-style advice column on his popular blog (www.diabetes-warrior.net) to answer reader questions. One month later, the State Board informed Steve that he could not give readers advice on diet, whether for free or for compensation, because doing so constituted the unlicensed, and thus criminal, practice of dietetics.
But the First Amendment does not allow the government to ban people from sharing ordinary advice about diet, or scrub the Internet—from blogs to Facebook to Twitter—of speech the government does not like. North Carolina can no more force Steve to become a licensed dietitian than it could require Dear Abby to become a licensed psychologist.
That is why on May 30, 2012, Steve Cooksey joined the Institute for Justice in filing a major free speech lawsuit against the State Board in the U.S. District Court for the Western District of North Carolina, Charlotte Division.
Go baby, go baby, go baby, go!
I just made a donation to the Institute for Justice while writing this post. If you’d like to do likewise, here’s the link. We need to support the people who support freedom.
Dietary advice those North Carolina dietitians would approve
I received this email from a reader:
I’m a Health teacher, and the attached worksheet is what’s in my curriculum to teach first graders. I have to spin it in a way that won’t leave me with a guilty conscience.
He attached the graphic you see below.
Yup, that low-fat diet full of grains will sure make those first-graders lean, healthy and attentive. (Okay, at least the advice to eat foods low in sugar is good. Kids will read that before heading down to the school lunchroom to consume their USDA-approved lunches that include lowfat chocolate milk, breaded chicken nuggets and peaches in syrup.)
My daughters don’t eat grains except on rare occasions and their diets are full of fat. (We had zucchini stuffed with cheese and sausage for dinner tonight.) They’re both lean and energetic. They both love their gymnastics classes, and Sara has taken to scaring the hair off my head by doing cartwheels in the pastures. As for their cognitive abilities … okay, here comes more shameless bragging.
Alana just finished first grade, where the scores are given as 4 through 0 instead of A through F. She got all 4s.
Sara just finished third grade. She’s been bringing home straight-A report cards all year with numeric grades in the upper 90s, including a 98 last quarter in math. We were pleased, but wondered if perhaps she had an easy teacher. That concern was put to rest when we received the results of her TCAP (standardized state testing) scores last week:
Social Studies: 97
That’s right … my girl answered every single question in math and science correctly on the state test. She’s already asked me to give her more complicated math problems to solve during the summer so she doesn’t slip during vacation.
Last night I was going through video footage so I can put together our 2011 family DVD. (I usually create the previous year’s DVD January, but it’s been a crazy-busy year with me working full-time while preparing speeches and roasts.) Sara was looking over my shoulder as I logged a clip of Alana standing on the fireplace at my mom’s house to deliver a singing solo during a visit in July. Once the clip was transferred, I announced I was done reviewing footage for the night.
“No, Daddy, watch the next clip!”
“Huh? How do you know what’s on the next clip?”
“Because I remember what happened when Alana finished singing. Grandma said she wishes she could sing, and I said, ‘Grandma, you can sing. You just can’t sing well.’ Then everybody laughed.”
“And I had the camera going for that?”
“Yes. You turned it off, then you turned it back on, then Grandma said she wishes she could sing.”
So I watched the clip. It was exactly what she said it would be. That all happened nearly a year ago, but Sara remembered it word for word. Her memory for details is almost spooky.
Yes, intelligence is largely inherited. Maybe she’d score 100 in math even if she ate Pop-Tarts for breakfast. But her grain-free, high-fat diet sure doesn’t seem to be diminishing her inherited abilities.
If you enjoy my posts, please consider a small donation to the Fat Head Kids GoFundMe campaign.


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BOULDER, COLO. – Quinn, a snacks company based in Boulder, has added to its board of directors and launched plant-based Cheezy Style Filled Nuggets.
Michele Meyer, former president of the snacks operating unit at General Mills, Inc. and an operating partner at NewRoad Capital Partners, has joined the board of directors. John Foraker, chief executive officer of Once Upon A Farm and formerly with Annie’s, also has joined Quinn’s board.
“We at NewRoad have continued to be impressed by Quinn’s innovative ideas and commitment to sustainability, and I am excited to support female founder, Kristy Lewis,” Ms. Meyer said.
Ms. Meyer and Ms. Lewis are the only two women on the board.
Mr. Foraker and actress Jennifer Garner founded Once Upon A Farm, a baby food company.
“I am excited to formally join the board to help Kristy and the team scale Quinn into a snack industry leader,” Mr. Foraker said. “Their momentum and vision are extremely compelling, and it will be exciting to watch them positively impact their categories over the coming years.”
Ms. Lewis said, “John has been a massive mentor, friend, legend in the natural foods industry, and supporter of Quinn since our early years. His integrity and commitment to cleaning up our food system aligns with our brand and vision, making him a tremendous asset to Quinn as we continue to grow and lean into our Be Better. Do Better. Mission.”
The gluten-free Cheezy Style Filled Nuggets are Non-GMO Project verified, corn-free, soy-free, dairy-free and vegan-friendly. The pretzel nugget is formulated with lentil flour.
“This product has truly been a labor of love,” Ms. Lewis said. “I am so proud of the entire Quinn team for the years of hard work that went into bringing this one-of-a-kind and seriously awesome snack to shelves.”


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PETALING JAYA • Chickens are dying by the millions in a month, farm produce is dwindling, vegetables are wilting, and end consumers are set to be the biggest losers - all because of the haze.
Vegetable production in several states is down by a third, sending prices up by more than twofold. Farmers say that if the haze continues, prices will go even higher.
Fruit prices are also set to rise, with yields expected to shrink and fruit sizes likely to be smaller. Mr Omar Rohani, manager of Kulim Montel Farm, said the haze had affected the growth of new buds at its two banana farms in Johor.
As for livestock, Penang and Province Wellesley Farmers Association chairman Loo Choo Gee estimated that, on average, two to three million broiler chickens in the northern states of Penang, Kedah, Perlis and Perak die in a month because of the haze. Peninsular Malaysia produces 50 million chickens monthly.
"Chickens are more sensitive to the haze than humans. They have respiratory problems and become weak. We have to give them vitamins. When they are weak, they are slow to grow," said Mr Loo, who is also a farmer.
He said that during the haze, farmers need to increase the price of chicken by 10 sen to 20 sen per kilogramme from around RM4.50 to RM4.70 (S$1.50). "Many farmers try and keep alive the breeder chickens that are meant for culling so they can lay more eggs. But hens become weak during the haze and lay fewer eggs," he said.
In Johor, Lew Brothers Poultry Farm owner Lew Kim Huat said egg production at his two farms had declined by about 5 per cent since the start of the haze.
"Our hens are becoming restless and weak," he said, adding that about 28,000 of his 700,000 birds had died of suffocation, about twice the usual number of deaths.
Mr Lew said that normally, each bird would produce 25 eggs a month but for the past month, they produced between 15 and 20 eggs each.
Consumers also have to pay more for vegetables, with long beans at RM6 per kg costing twice or thrice the pre-haze prices of RM2 to RM3, in Kota Tinggi, Johor.
Wholesaler Tan Pak Looi warned that the price of chillies, now at RM6 per kg, is expected to rise in the next two to three months. The current batch of chillies grew well as they were planted and harvested before the haze, he said.
According to Dr Mohd Norowi Hamid, director of the Agrobiodiversity and Environment Research Centre at the Malaysian Agricultural Research and Development Institute, the haze had reduced the photosynthesis rate because less sunlight reached the plants.
Penang Island Vegetable Wholesalers Association chairman Tan Ban Ben said the prices of certain vegetables had doubled because of the haze. "The weather has also affected the production of spring onion and celery, which have doubled in price," he said, adding that spring onion - which cost RM5 to RM6 per kg two weeks ago - now goes for RM12 at the wholesale price.
A vegetable supplier in Penang state capital George Town, Mr V. Raj, 47, said the wholesale prices of vegetables from Cameron Highlands had gone up by 50 per cent.
"Profits have also been cut by at least 20 per cent. Chinese broccoli (kailan) increased from RM2.50 to RM5, while Chinese cabbage rose to RM2.50 from RM1.20 and tomatoes from RM4 to RM6," he said.
Farmer Khor Tiam Seng, 38, from the Cameron Highlands, said vegetable production there had dropped by 10 per cent to 20 per cent. "I had to increase my prices in order to maintain profit. And it is the customers who will have to pay more."
THE STAR/ASIA NEWS NETWORK


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Nearly half of all mobile phones stolen in 2005 were made by Nokia, a new survey has found.
The study, by the Midlands Centre for Criminology and Criminal Justice at Loughborough University, used data from 100,000 reported phone thefts in London to compile the top 10 list.
The Nokia 6230 was the most stolen phone during December 2005, followed by the Motorola Razr, the Samsung D500 and the Sony Ericsson K750i.
The study was inspired by the Home Office's Car Crime Index, which highlighted which cars were least secure, prompting manufacturers to improve anti-theft measures.
“Mobile phone theft has been increasing when many types of crime have been falling for years," said Jen Mailley, lead author on the study.
“The top 10 charts are a step in the right direction though,” said Mailley, “because they empower consumers with information, which should stimulate anti-crime design efforts by the mobile phone industry.”
Mobile phone networks recently pledged to block stolen phones within 48 hours, rendering the handsets useless.
Nokia the most stolen phone
By Will Head on Aug 7, 2006 9:25AM


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A two-year-long investigation of the Competition Commission Of India (CCI) has found Google guilty of abusing its dominant position of Android in India. The commission also found Google guilty of using anti-competitive, unfair, and restrictive trade practices in the Mobile Operating system and related markets.
According to Counterpoint research quoted by Reuters, Android OS controls over 98% of the Indian Smartphone market.
Brief background of the case
The CCI had ordered this investigation in 2019 after two competition law researchers filed a complaint.
Back when CCI ordered the investigation, it said Google appeared to have leveraged its dominance to reduce device makers’ ability to opt for alternate versions of its operating systems besides forcing them to pre-install Google apps.
Findings of the panel
During the two-year-long investigation, the CCI panel questioned 60 other entities too, including Apple, Microsoft, Amazon, Paytm, PhonePe, Mozilla, Samsung, Xiaomi, Vivo, and Oppo. Google also submitted at least 24 responses to the investigation panel.
Now, a 750-page report has concluded that Google was guilty of stifling competition and innovation. It says that Google forces device makers and app developers to sign one-sided contracts that help Google maintain its grip and dominance in search, music (through YouTube), Browser (Chrome), app library (Play Store), and other key services.
Further, it mandates any manufacturer wanting to go beyond the stock Android version to sign a Mobile Application Distribution Agreement (MADA) and an Anti- Fragmentation Agreement (AFA)/ Android Compatibility Commitment (ACC).
These agreements require pre-loading of Google apps and pre-determined placement on devices. The report says the mandatory pre-installation of apps “amounts to imposition of unfair condition on the device manufacturers.”
“Google is found to be contravening the provisions of Section (2)(a)(i), Section 4(2)(b), Section 4(2)(c), Section 4(2)(d) and Section 2(2)(e) of the Competition Act.”
Besides, if a device maker signs all the agreements, Google offers attractive revenue-sharing agreements for giving primacy to the Google-only ecosystem of services and applications.
Similar Complaint around ACC in India
Google is also facing a similar antitrust investigation in India with regard to Smart TVs. A complaint against Google alleges that Google signs an Android Compatibility Commitment (ACC) agreement with OEMs. The ACC requires OEMs to not sell Smart TVs which operate on a competing forked Android OS such as ColorOS or Amazon’s FireOS, neither shall they develop their own forked Android OS.
Surprisingly, Google also restrains TV manufacturers who sign these agreements, to adhere to obligations contained in the agreements not just in regard to the Smart TV market, but in regard to their entire device portfolio.
South Korea’s fine on a similar issue
Recently, South Korea imposed a $177 mn fine on Google for blocking customized Android versions. The Korea Fair Trade Commission said Google’s “anti-fragmentation agreement” (AFA), which it requires device producers to abide by, hamper competition. According to the AFA, device makers cannot equip their handsets with modified versions of Android. The decision bans Google from putting any such restrains on manufacturers.
What will happen next?
The CCI is yet to send the report to Google. Senior members of the commission will review the report and give Google one more chance to defend itself. If the Commission issues a final order against Google, it may impose fines. It may even ask Google to discontinue practices that intend to undermine competition and are anti-consumer.
The U.S. tech giant said in a statement it looks forward to working with the CCI to “demonstrate how Android has led to more competition and innovation, not less.”
Google can appeal against any adverse order in Indian courts.


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Germany, Europe’s largest economy, is welcoming President Barack Obama’s endorsement of free trade negotiations between the U.S. and the European Union. A spokesman for Chancellor Angela Merkel said that the President’s comments were among the most important signals to European nations during his State of the Union address on Tuesday.
Experts and those aligned with the nations claim a free trade deal would encourage job growth and consumerism on both sides of the Atlantic. Many close to Merkel and the German government hope the groundwork for formal negotiations can be established before the end of June.
The president’s comments boost the profile of previously introductory talks between the European Union and the U.S.
If differences over agricultural goods can be ironed out, the nations would set forth the world’s largest free trade agreement.
The European Union, which is composed of 27 European countries, said such an agreement would mark the largest bilateral trade deal ever negotiated. Any agreement would boost the Union’s economic output by roughly one half percent—a desirable outcome considering the United States and European Union are struggling with slow growth, high levels of debt and high unemployment.
“Both the United States and the EU need growth and both of us have significant budgetary problems,” claimed Jose Manuel Barroso, president of the EU.
In a joint statement issued in Brussels and Washington, President Obama, Barroso and European Council President Herman Van Rompuy said the nations were committed to making this relationship a substantial driver to strengthen prosperity.
Through the negotiation, the European Union and the United States have the opportunity to not only expand investment and trade across the Atlantic, but also the ability to contribute to the development of global regulations that can bolster the multilateral trading platform.
Trade between the European Union and the United States is already substantial—the two entities conduct over $2.6 billion worth of trade a day.
The goals of the agreement include the elimination of import tariffs, which average approximately 4 percent and the removal of other barriers to trade including the approval processes that businesses must go through to sell products on both sides of the Atlantic. These eliminations will effectively cut the significant red tape that is added to the cost of tradable goods. The removals of such impediments are one way in which a deal would stimulate growth between the two bodies. Moreover, consumers would benefit if tariffs are removed in the form of lower prices; a bottle of French champagne in the U.S. would be approximately the same price as it is in Paris.


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Quiqup, a London-based delivery startup that operates a “shop on your behalf” app similar to Jinn in Europe or Postmates in the U.S., in addition to a growing B2B business, has raised £20 million in Series B funding.
Leading the round is Jobi Capital, a New York-based fund, with participation from Transmed, a leading distributor of fast-moving consumer goods, and existing investors.
The company says it plans to use the new capital to expand to other U.K. cities beyond London, and to “kick-start” international expansion.
It also will invest heavily in its tech platform, including recruiting more engineers and data scientists, to improve its algorithm. This will enable Quiqup to provide better delivery estimates and to anticipate demand patterns, co-founder and CEO Bassel El Koussa tells me.
Founded originally to let consumers order anything from its app for local same-hour delivery, and with an initial emphasis on food, Quiqup has since expanded its proposition to become vertical agnostic and to providing last-mile delivery to businesses, too.
The B2B offering takes the form of “Quiqdash,” a web app that allows smaller retailers to instantly order or schedule a delivery, or a full API integration service that incorporates Quiqup’s delivery service into large retailers’ e-commerce solutions.
The latter is currently being used by 25 or so Burger King restaurants in London as one of a number of delivery companies powering the takeout giant’s online ordering and delivery option.
Quiqup has also partnered with Whole Foods in London to be their sole online ordering option via the Quiqup app, as well as ventured into non-food verticals such as independent florists and pharmacists.
El Koussa says that the B2B side of the business now makes up around 45 percent, up from 40 percent in January. He also says there are a number of other partnerships with large retailers that he is unable to disclose at this point in time.
Adds the Quiqup founder in a statement: “As consumer expectations change, retailers of all sizes and verticals will be expected to offer flexible, efficient, and affordable delivery services. Time is a precious commodity for today’s consumer and Quiqup was created to help people make more time for what they enjoy most. Today’s investment brings us one step closer to our goal of bringing on-demand delivery to the mass market, and we’re thrilled to have Jobi and Transmed join us on this venture, as well as to have the continued support of our existing investors.”
Meanwhile, Quiqup says that since launch it has experienced 170 percent growth year-on-year — as meaningless as a percentage metric is — and has delivered more than 550,000 orders. The startup has a headcount of more than 110 employees, and more than 2,000 self-employed couriers, dubbed “Quiqees,” have signed up since the company was started.
As a reference point, consumer rival Jinn recently announced that it has surpassed 1 million completed deliveries since launching in late 2014. It also disclosed that 5,000 couriers are registered with the Jinn app and about 1,000 are active on a monthly basis.


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The retail and construction sectors are some of the largest employers in Australia.
Combined, they employ 21% of all Australian workers, a percentage that easily surpasses healthcare, which is the largest individual employing sector.
As the chart below from JP Morgan reveals, they're massive employers.
Given their sheer size, what happens in the retail and construction sectors will naturally play a significant role in determining what happens to the broader Australian economy.
They employee over a fifth of all workers, after all, and as such they provide a lot of income to Australian households. And that income is then used to spend, helping to power consumption, the largest component within the economy.
The linkages are clear, and crucial. What happens in retail and construction will be felt in other parts of the economy.
The retail sector is already struggling, perhaps partially explaining why the broader economy is now growing at the slowest annual pace since the global financial crisis. Competition is fierce, spending is soft and margins have been compressed, leading retailers to shed close to 60,000 jobs over the past 12 months.
And residential construction, after an unprecedented building boom over recent years, now looks like it's also past its cyclical peak.
It's not an ideal scenario for employment and consumption growth, particularly with the government and Reserve Bank of Australia expecting economic growth to accelerate in the years ahead, helping to boost taxation revenue, employment, wages and inflation.
Retail is already weak and construction looks set to weaken, that we know. What we don't know is just how things will play out.
To JP Morgan's Australian economics team, it could well be worse than what many people currently believe, noting that both these sectors are about to face additional headwinds that further pressure these sectors, helping to cloud the outlook for employment growth and consumption growth.
"Both these sectors will face meaningful headwinds in the next 1-2 years," the bank wrote in a research note released earlier this week.
"For retail, the culprit is likely to be the potentially disruptive presence of Amazon. And for construction, the peak in the residential dwelling investment will loom as a material headwind."
The bank details its concerns on both fronts below.
Here's it's view on the arrival of Amazon, and the impact it could have on not only the retail sector.
Retail employment accounts for 11% of total employment, and is the second largest employer by industry. There has already been considerable disruption in clothing and footwear retail given the physical entrance of large international retailers into the Australian market. It is feasible that Amazon delivers similar disruption but across a broader range of industries (electonics, hardware etc). So while the near term impact might be most evident in inflation metrics, there is a non-trivial chance that the longer term impact of Amazon is felt more keenly across the real economy as retail adjusts to an aggressive online competitor.
And its assessment on potential pressures facing the construction sector, coming at a time when activity levels look set to slow following a noticeable drop in building approvals from the levels seen a year ago.
A slowdown in lending and housing turnover from higher mortgage rates and macro-prudential tightening will drag on the consumer, by limiting wealth effects, slowing credit growth and confiscating disposable income for consumption. Rental inflation is also likely to weaken further. Whether there is more damage through real/financial channels remains to be seen, though spillovers from falling building approvals to home construction and employment could take some time to play out.
They're clearly big risks facing two very big sectors. And if they were to weaken substantially in the period ahead, it would undoubtedly impact employment growth and household spending as a consequence.
"It is not hard to see a circumstance in which the Australian consumer comes under more pressure", says JP Morgan. "If the labour market eventually buckles under these twin pressures, then the RBA may be facing a more acute collapse in employment growth and consumption."
While it remains unclear as to whether that will eventuate, JP Morgan thinks that household consumption -- already decelerating -- will likely slow further over the next couple of years, with risks to that view slanted to the downside.
"(Our) central forecast is for real consumption growth of 2.1% over the remainder of 2017/18, the weakest outside recessions for the last 30 years," it says.
"Further, the distribution of risks to this forecast is asymmetric -- upside risks are minimal, while there are plenty of downside risks to the consumer given rising energy costs and a forthcoming housing correction."
Given those risks, the bank says that the "Australian consumer offers little cushion for a central bank that requires trend or better growth in order to facilitate target consistent inflation outcomes".
And with the household sector weak, that will place additional pressure on other parts of the economy to drive GDP growth, it says.
"This places greater pressure on other components of domestic demand, such as government infrastructure and private capex, to deliver robust outcomes. Details of this week’s GDP outcomes underscore that such outcomes cannot be taken for granted."
Given household consumption is the largest part of the economy, it's doubtful that other areas of the economy will be in a position to drive growth should JP Morgan's forecasts be on the money.
Read more posts on Business Insider Australia »


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Darlene Wendels / The Collegian
Many businesses nationwide will open their doors for shoppers as early as Thanksgiving morning this year, stirring different opinions about whether the decision is appropriate.
Prominent stores in Fresno including Macy’s, Best Buy, Target and Wal-Mart will be opening for Black Friday at 6 p.m. Thanksgiving Day. Yet other stores are opening even earlier, such as Kmart at 6 a.m., Big Lots at 7 a.m. and RadioShack at 8 a.m.
One such store opening early in Fresno is Sears, a decision store manager Rande Johnson said is important for the company.
On Thanksgiving Day alone, the store will make sales worth about the equivalent of two regular weekends, Johnson said. Black Friday, meanwhile, makes up to the equivalence of about four regular weekends’ worth of sales.
“Last year, we did Door Buster at 8 p.m. at night and again at 6 a.m.,” Johnson said. “This year, we’re going to open at 6 p.m. on Thanksgiving and remain open until the following day because it’ll make it easier for everyone.”
While companies may benefit from Black Friday, concerns remain about shopping creeping into a traditional family holiday for some.
“Black Friday is a complicated issue for retailers, as they need to balance the competing needs of multiple stakeholders, including customers, shareholders and employees,” said Fresno State marketing professor Monique Bell. “Even more concerning for these groups is the idea of ‘Grey Thursday,’ with many stores planning to be open on Thanksgiving Day itself.
“On one hand, retailers need the sales generated by holiday purchases, particularly after multiple years of recession and lower-than-expected spending during recovery,” she said. “At the same time, many consumers, especially members of the Millennial generation, value family and fair treatment of employees more than they do getting more stuff.”
Consumers are choosing to use their dollars to support companies whose values are aligned with theirs, Bell said, so companies need to carefully consider the costs and rewards of creating a perception of putting profits before their employees and their families.
Jeremy Coane, a senior at Fresno State working for Toys ‘R’ Us, said working on last year’s Black Friday was stressful but a good opportunity to earn extra money working overtime.
“Toys ‘R’ Us actually opened for Black Friday on Thanksgiving evening,” he said. “Other than the fact that it was Thanksgiving, it went all right. They were really well-organized. They gave out tickets to people in line for the really popular items so that there wouldn’t be people fighting over them.”
Fresno State marketing professor Dr. William Rice said Black Friday also influences the future shopping of consumers.
“It’s a marketing ploy to get people thinking about where they can get a deal in hopes that imagery or remembrance will stick in their head when they start shopping later and nearer to Christmas Day,” he said.
Black Friday is also harmful because it lowers people’s price perception and expectations, which can affect people’s willingness to spend after the low-price days pass, Rice said.
Additionally, it also helps companies by giving them feedback on what are popular grabs this season, he said.


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Hospitality company OYO on Friday announced that it has appointed Troy Alstead as an independent director while Google Pay has roped in former Axis Bank MD Shikha Sharma as an advisor.
OYO names Troy Alstead as an independent director
Indian hospitality major OYO Hotels & Homes (OYO) on Friday announced that it has appointed former Starbucks Corporation chief operating officer Troy Alstead as an independent director.
Alstead will play a supervisory role and provide guidance to the OYO founder and its management team on key business decisions, per a statement. His depth of experience in operations, financial management, business resilience planning and growth cycle management will strengthen the company’s ability to deliver on sustainable growth, operational and service excellence, OYO added.
“Troy brings tremendous operating and governance experience that will help us continue delivering on our mission to help millions of middle-income people around the world gain access to quality accommodations at different price points,” OYO Hotels & Homes founder and Group CEO Ritesh Agarwal said.
Troy Alstead is also the founder, president, and CEO of Ocean5, a place for playing, meeting, and dining, and Table 47, a farm-to-table restaurant. He is also on the board of Topgolf Group Ltd, Harley-Davidson Inc, and Levi Strauss & Co.
Google Pay appoints Shikha Sharma as advisor
Digital payments company Google Pay has appointed Axis Bank’s former managing director and chief executive officer Shikha Sharma as an advisor.
“Thrilled to welcome Mrs Shikha Sharma, ex-CEO of Axis Bank, as an advisor to Google Pay India. She has been an early champion of bank-tech partnerships, and a mentor to us. Now her strategic thinking and guidance will help us accelerate our global payments journey,” Caesar Sengupta, vice president of payments and next billion users at Google, announced on Twitter.
Google Pay is one of the leading applications on Unified Payments Payments Interface (UPI). It competes with the likes of Paytm and Amazon Pay in India. During the ongoing lockdown, Google launched its ‘Nearby Spot’ service to help users in Bengaluru find local stores selling essentials like groceries that are open amid the lockdown.


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Fitbit has recently announced the Fitbit Versa 2. The latest version comes with big improvements that include a new OLED display, new features, and an improved battery life.
The Versa 2 features a lightweight aluminum casing with a touchscreen display. It now has NFC, which can be used for Fitbit Pay (unfortunately, it’s only available in select countries).
It also carries over features from the first Versa, such as an improved 24/7 PurePulse heart rate tracking, Sleep Stages and Insight monitor, an on-screen personal workout coach in Fitbit Coach, over 15 Exercise modes, storage for music, and more.
In addition, the Versa 2 now has support for Spotify that allows users to control the app. Previously, it can only control the Deezer music app.
As a fitness device, the Versa 2 is water resistant up to 50 meters and allows tracking while swimming. It also has a five day plus battery life, a 1-day improvement from its predecessor.
The Fitbit Versa 2 has a starting price of USD 199 or roughly PHP 10,500. But chances are that it will be similarly priced to the first Versa when it launched locally.
Local pricing and availability are yet to be announced.


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Enslaved: Journey to the West goes gold
Namco Bandai has announced that their big autumn title, Enslaved: Journey to the West has gone gold.
This means that the game has headed off to be duplicated and distributed to retail outlets read for release on the 8th of October.
The post-apocalyptic story is the first multi-platform release from Heavenly Sword studio Ninja Theory and it takes inspiration from Naughty Dog's Uncharted 2.
Enslaved was also co-directed by the game's mo-cap star Andy Serkis. Serkis lends his voice as well as his animation to the game's main character Monkey.
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- Shadow Of Mordor trailer introduces the unique orc character, Ratbag
- Saints Row IV coming to next-gen consoles
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The credit insurer Euler Hermes believes the European continent is poorly prepared for the current logistics crisis.
Euler Hermes expects temporary logistics problems to continue worldwide in 2022. In a study published today, the company based in Courbevoie, France, sees Europe “at the epicentre of bottlenecks”. The continent is more dependent on external intermediate products than the USA, for example.
In addition, Europe is more dependent on China, according to Euler Hermes. Low production capacity in the manufacturing sector and a lack of investment in port infrastructure also had a negative impact. Accordingly, the normalisation of the supply situation could be delayed. This also applies to semiconductors: German companies have been able to increase their stocks, but Asian countries and the USA have been able to secure the largest quotas.
In the wake of the various crises and non-existent components, there were repeatedly voices in favour of a return to classic warehousing instead of “just in time” delivery. The relocation of production sites was also discussed. According to Euler Hermes, however, there are currently only a few concrete projects in this respect. It is to be expected that there will be a return to “just in time” for reasons of cost efficiency.


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reported Tuesday.” data-reactid=”19″>Tesla Inc. (NASDAQ: TSLA) is mired in a dispute with the Chinese e-commerce giant Pinduoduo Inc. (NASDAQ: PDD) over the pricing of its Model 3 vehicles on the latter’s portal, Bloomberg reported Tuesday.
The simmering discord is over a customer in Wuhan, China who noticed a Tesla Model 3 being sold 7% cheaper at $36,320 than the official post-subsidy price set by Tesla at YiAuto, a car retailer in Fujian, according to Bloomberg.
Once the Elon Musk-led company became aware of the discounted price, it reportedly denied any cooperation with both Pinduoduo and the car retailer. Nevertheless, YiAuto came through with the offer and the Wuhan man ordered the car, which was booked through Tesla’s website using the buyer’s details.
Why It Matters
The electric vehicle maker termed the purchase a resale, which resulted in the loss of privileges reserved for buyers of Tesla vehicles through the company-approved outlets, Bloomberg noted.
A representative of the automotive company said that it was willing to compensate for the buyer’s loss of time and effort and he was welcome to re-place his order via official channels.
The Chinese e-commerce firm criticized Tesla for making it difficult for fans to get their “dream car.”
“We appreciate the trust that our users put in our platform and will do everything we can do protect their rights,” Pinduoduo told Bloomberg.
reported, citing local Chinese media. ” data-reactid=”32″>Pinduoduo, which has more than 628 million active buyers might be considering a lawsuit against the EV maker, Teslarati reported, citing local Chinese media.
Tesla shares closed nearly 11.2% higher at $1,835.64 on Monday, and Pinduoduo shares closed about 4.9% higher.
View Article Origin Here


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Amazon (AMZN 4.44%) definitely made a few mistakes with the Fire Phone this summer. The company was forced to write down its inventory $170 million due to poor sales resulting in a surplus. But CEO Jeff Bezos is undeterred.
The CEO, who seems less interested in profits than completely dominating global commerce, noted earlier this week that "it's going to take several iterations" of the Fire Phone before it can be judged. After the first Fire Phone failed to kindle much interest, investors are hoping Bezos and Co. have learned from their mistakes.
Amazon's got a stigma now
Botching a product introduction isn't easy to overcome. Just ask Microsoft (MSFT 2.14%), which was forced to write down $900 million in Surface RT tablet inventory eight months after its release. Two years since the device's introduction, after the release of the critically well-received Surface Pro 3, the device suffers from a serious "uncool" factor.
Microsoft is slowly recovering. Last quarter, the company reported Surface sales of $908 million, doubling year over year. The improved product design and marketing campaign along with partnerships with the NFL, Delta Airlines, and several hospitals have helped overcome the initial failure.
Now, Amazon finds itself in the same position as Microsoft was two years ago. Amazon needs to design a new phone with compelling features that can overcome the uncool factor of using a Fire Phone. Luckily, Amazon has plenty of mistakes to learn from, and companies like Microsoft and Xiaomi have provided a blueprint for how to turn the Fire Phone into a success.
Amazon is capable of overcoming the problems with the initial Fire Phone
Amazon has had success selling hardware in the past. Its line of Kindle e-readers and tablets sell very well and the Fire TV appears to be off to a strong start.
With the Fire Phone, however, the company took a different route than its other hardware. Instead of pricing the phone near cost and making money on the backend with features like Firefly and its app store, it initially priced it at the high end.
There are two reasons for the high initial price -- which the company eventually reduced by $200. First, its exclusive deal with AT&T made it subject to the subsidy model, where wireless operators kick in $450 upfront for a new smartphone on a two-year contract. Second, Amazon was looking to push people to buy things from its store with Firefly, so offering a low-price phone that would attract people looking solely for a cheap phone didn't make much sense.
While shopping on mobile devices is growing, it still pales in comparison to shopping on desktop computers. Shopping on smartphones is still lower than shopping on tablets, too. In other words, people aren't going to switch smartphones because one makes shopping easier.
Most people use their smartphones for entertainment, games, news, and social networking. Amazon's Kindle line is built around entertainment with its Amazon Prime Instant Video and e-book library. Focusing on those capabilities in the Fire Phone will be key to the device's sales in future iterations.
Moving away from carrier exclusivity and the subsidy model could also be key for Amazon. In fact, Xiaomi's model, where it prices its premium phones near cost and makes money on the backend, is perfectly suited for Amazon. The company already has its own app and media stores, and it's growing its ecosystem of devices with the Fire TV and forthcoming Echo home assistant.
Xiaomi also created an air of exclusivity by purposely limiting supply. That's something that could have greatly benefited Amazon with the Fire Phone, and it seems to be part of its strategy with the upcoming Echo.
Amazon can afford to fail
In the grand scheme of things, blowing a few hundred million dollars looking for another growth driver at Amazon is not that big of a deal. The company is in perma-growth mode and reinvesting cash flows into experimental projects is part of the cost. Last quarter, the company generated $1.8 billion in cash flow from operations (including that $170 million inventory write down) and $5.7 billion over the last 12 months.
Indeed, experimental hardware like the Fire Phone, Fire TV, and Echo might fail, but each has the potential to become its next Kindle. Remember, the Kindle, too, took a while to catch on, but eventually became a multibillion-dollar business and gave it a stronghold on the e-book market. Additionally, each new device carries strong potential for its other businesses on top of device sales. Amazon can certainly afford to fail if its failures eventually produce yet another billion-dollar business and help its existing businesses grow.


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Yangon City Development Committee has planned to open chicken shops which will sell for Ks 4,000 per viss in five ward markets in Yangon in February, in partnership with the Livestock, Breeding and Veterinary Department and the Boiler Chicken Breeding and Production Association, according to the breeder’s association.
The chicken shops are being planned to open in Zamyinzwe and ward-2 markets in North Okkalapa township, the Aung San Market in Insein township, the Nagarmouk Market in Shwe Pyi Thar Towship and the Yadana market in Htaukkyant township. The Yangon region government is planning to open other similar chicken shops in 15 additional markets.
Currently, the price of chicken in the market is Ks6,000 per viss. The chicken shops will open with the aim of reducing the price of chickens in the markets and making the price fair for the consumers. The chicken will be sent to the markets using cold storage vehicles. Measures are being taken not to affect the retailers.
“The price of chicken in the breeding farm is Ks2,500 per viss. And the price of the chicken is Ks3,700 per viss for individual consumers and Ks 3,100 per viss for the retailers,” said an official from Livestock Breeding and Veterinary Department.


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Amazon turns British cardboard box maker into FTSE giant: Rise of internet shopping causes DS Smith sales surge
Britain's leading cardboard box maker has revealed that the rise of internet shopping has helped its sales surge by more than £1billion in just five years.
London-based DS Smith, which produces millions of tons of cardboard and plastic packaging a year, joined the FTSE 100 last week.
Its customers include Amazon, Asos and Next – some of the most successful retailers to have tapped into the online spending revolution.
Sales surge: London-based DS Smith, which produces millions of tons of cardboard and plastic packaging a year, joined the FTSE 100 last week
Yesterday, DS Smith reported sales of £2.8billion for the six months to October 31, up from £1.7billion over the same period five years ago.
It was 19 per cent up on the first half of last year.
Profit dipped 1 per cent to £144million, although this was described as a temporary result of recent price rises for materials.
Miles Roberts, DS Smith’s chief executive, said that while internet shopping uses six times more packaging than High Street stores, his firm was also benefiting from the rising demand for recyclable boxes.
Roberts, 53, added: ‘We are seeing very strong growth in the use of cardboard fibre-based packaging, and ecommerce is a major driving force.
‘The vast majority of what we produce is made from fully recyclable materials. It is a big part of what we do and we expect it to get even bigger.’
- 8.2m - Tons of packaging produced by DS Smith each year
- 9 - Paper mills operated by the company
- 5.2m - Tons of paper recycled by the firm each year
- 14 - Days taken for a box to be recycled and back on someone’s doormat again
- £2.8bn - Made in sales by the firm in the six months to October 31
Roberts said that DS Smith could now turn paper into cardboard boxes that can be used for packaging just 14 days after it is collected.
The company has nine paper mills in Europe and has embarked on an expansion in the US, acquiring rival Interstate Resources for £850million.
Roberts said the acquisition went well and the estimated savings of £18.6million originally predicted were likely to now top £22.3million.
‘We are ahead of our expectations,’ he added.
Interstate operates mainly on the east coast, from New Jersey to Georgia, and is planning two more packaging plants there.
Meanwhile, DS Smith has bought Romanian firm Ecopack and Ecopaper for £186million.
DS Smith was founded in 1940 as a box-making business in London and now serves online shopping websites and European consumer goods operators.
It competes with Smurfit Kappa, RPC Group and Mondi, which issued a profit warning earlier this year, as the sector has been hit by extra costs due to a surge in paper and pulp prices.
Roberts said the outlook for next year was positive but there was some concern about the possible impact of the UK’s exit from the European Union in 2019. ‘What we do not want is for our flow of trade to be interrupted,’ he said.
‘We are waiting to get some clarity and we hope that will come as quickly as possible.’
The company’s ascent to the heights of the FTSE 100 came as Merlin Entertainments, Conva Tec Group and Babcock International dropped out via the quarterly review last month.
DS Smith now has a market capitalisation of £5.6billion.
Yesterday its shares fell 2.6 per cent, or 14p, to 525p.
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Haix Airpower XR2 Women's Winter Medium
HAIX® is excited to announce the release of our new Airpower® XR2 Winter! We took our most popular Station/EMS boot and winterized it! What sets this new boot apart is the newly developed rubber winter sole which is extremely slip-resistant on ice and snow. Those who have already tested it say the grip is unbelievable on slick terrain.


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The small companies snapping at Big Tech’s heels
The technology giants have had a good crisis. The small fry have been doing even better, says Matthew Lynn.
If there is one thing that seems clear about the Covid-19 crisis, it is that it has been won by Big Tech. From Amazon to Netflix to Facebook and Google, we have relied more and more on the giants of the internet. And they will emerge from the crisis more powerful than ever. But is this really true?
As the economy went into lockdown, the more of your portfolio you had invested in technology shares, the better. Apple, Microsoft and Amazon all quickly recovered from the initial stockmarket slump and went back up above the $1trn market value level and their peers were not far behind. Amazon is up by 33% since the start of the year and has been hitting fresh all-time highs, while Apple is up 13%. It’s been an impressive performance.
The small fry race ahead
Yet small tech is doing even better. DocuSign (Nasdaq: DOCU) is up 100% this year (lots of us want to sign documents remotely right now). The cloud company Zscaler (Nasdaq: ZS) is up 130%. Twilio (NYSE: TWLO), a communications platform, is up by 100%. Among the online retailers, it is not Amazon that is the real star. The online pet-food company Chewy (NYSE: CHWY) is up by 70% since the start of the year. The internet retailer Wayfair (NYSE: W) has seen its shares double since the start of 2020.
Those are American companies, but it is a similar story in this country, even though our quoted technology sector is far smaller. The web-based fashion retailer Boohoo (Aim: BOO) is up strongly this year. So is Ocado (LSE: OCDO). And some of the best start-ups are still managing to raise fresh cash, helped along by the chancellor’s new start-up fund.
There should not be any real surprise that the small fry are racing ahead. In most industries, for most of the time, small companies do better than giant ones. They are more flexible. Change is always hard and the bigger you are the harder it gets. Bureaucracies become entrenched, staff become set in their ways and the bigger a company gets the more true that becomes.
Small companies can change in an instant as the market develops. They can seize opportunities as they develop. If everyone is suddenly working from home, they can come up with the tools to support that overnight. If products have to be changed for a world in which everyone is socially distancing, then it can happen far more quickly at a small business than at a big one.
And it is easier for them to “shift the dial”. It is hard for Amazon or Apple to come up with a new product that will have a significant impact on the bottom line. A firm with sales of only a few hundred thousand, by contrast, finds it much easier. It can double or triple in size in a year. In a fast-moving crisis, when old markets are crumbling overnight and new ones appear out of nowhere, that is more true than ever.
The survivors from a brutal contest
Big Tech is not in fact nearly as strong as it sometimes appears. It has size on its side. And it has plenty of money to throw around. But the internet remains the most brutally competitive and open marketplace ever created. An entrepreneur with a better idea can muscle his or her way into the market very quickly. During lockdown, as we rely more than ever on the web, lots of small companies are seizing the moment and taking a slice of the market.
There are two important lessons here. The first is that it is a mistake to just invest in the same old familiar names. The real gains are not being made by Amazon and Apple and the rest, but by much smaller companies. The returns from those businesses will be far more spectacular than they will be from the big companies.
The second is that the established giants may have some serious challengers a few years down the road. Amazon, Netflix and Facebook may look impregnable, but lots of small, smart and aggressive rivals have established themselves in the last few months. Over time, a few of them are going to grow into serious competitors. The real winners from this extraordinary crisis will be small technology companies. A few of them are already starting to emerge.


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(FRANKFURT) November 4, 2011 – Just a couple of months after its launch, the sporty Kia Picanto three-door model, available exclusively in Europe, has been honoured with the coveted iF product design award 2012. This award recognises design quality alongside a number of other criteria, including workmanship, innovation and eco-friendliness.
Picanto’s commendation is Kia’s fourth iF product design award in three years, following prizes for the Venga B-segment MPV (2010), Sportage compact SUV (2011) and Optima mid-size sedan (2011). Additionally, the brand has won the red dot design award four times in recent years.
“Receiving the iF product design award for the new Kia Picanto is a great success for our design team and it is welcome recognition of our brand’s design-oriented strategy,” said Kia’s Chief Design Officer, Peter Schreyer. “The second generation Picanto displays a very purposeful, self-assured design, and its sportiness is particularly underscored by the three-door version.”
The 3.6-metre long Kia Picanto boasts bold and dynamic styling, high-quality interior fittings and host of class-leading features. It is specifically aimed at the steadily increasing number of discerning consumers wishing to ‘downsize’ to a smaller car.
In most markets, Picanto is available with two highly-efficient petrol engines (69 ps and 85 ps) which, in combination with the optional automatic stop-start ISG system, reduces CO2 emissions to as little as 95 g/km. Kia’s unique 7-year/150,000 km warranty comes as standard on all Picanto cars sold in Western Europe.
The current generation Picanto is the first to be offered in three-door form. A five-door bodystyle is available most global markets. In Europe, the three-door version is expected to account for 36 per cent of total Picanto sales. Through the first nine months of 2011, the Picanto (new generation and first generation combined) was one of Kia’s best-selling models globally, with 179,405 units delivered.
“We are confident that the new Picanto will redefine the small car segment by offering many features typically found in larger cars, plus enhanced passenger comfort and increased cargo space,” said Tae-Hyun (Thomas) Oh, Senior Executive Vice President and COO, Kia Motors Corporation. “This award for our first three-door offering in the A-segment is yet another clear indication that our efforts aimed at positioning Kia as a design-led brand are paying dividends.”
Since its launch in 1953, the iF product design award has been conferred annually and is among the world’s most important prizes for excellence in design. The award has its origins in the “Die gute Industrieform” (Good Industrial Design) product shows initiated by Hanover Messe and is now one of the world’s largest design competitions. For 2012, a total of 2,923 products were registered in 16 different categories. The Kia Picanto was honoured in the ‘Transportation Design’ category, which includes cars, ships, trains and aircraft.
The official presentation ceremony for the iF product design awards 2012 will take place on 10 February 2012 during the Munich Creative Business Week. All winning products will be on display at the Hannover Exhibition Centre (6-10 March 2012), the iF design exhibition in Hamburg and at a subsequent iF design exhibition in Hainan, China.
Kia Motors Europe
Kia Motors Europe is the European sales, marketing, and service arm of Kia Motors Corporation. With its headquarters in Frankfurt, Germany, it covers 25 markets in Europe.
About Kia Motors Corporation
Kia Motors Corporation (www.kia.com) -- a maker of quality vehicles for the young-at-heart -- was founded in 1944 and is Korea's oldest manufacturer of motor vehicles.
Over 2.1 million Kia vehicles a year are produced in 13 manufacturing and assembly operations in eight countries which are then sold and serviced through a network of distributors and dealers covering 172 countries.
Kia today has over 44,000 employees worldwide and annual revenues of over US$20 billion. It is the major sponsor of the Australian Open and an official automotive partner of FIFA -- the governing body of the FIFA World Cup™.
Kia Motors Corporation's brand slogan – ‘The Power to Surprise‘ -- represents the company's global commitment to surpassing customer expectations through continuous automotive innovation.
PR Manager Europe
Tel: +49 69 850 928 357
Kia Motors Europe GmbH
60486 Frankfurt, Germany
An innovative new marketing campaign that highlights the complete transformation that Kia’s Picanto has undergone and the multitude of ‘grown-up’ features it now offers, goes live today.
Why does the red paint of the new Picanto glow so mysteriously? Who is behind the distinctive ‘face’ of Kia’s small car? And what happened when Kia went searching for an unusual shade of black?
Kia Motors Corporation has released the first official photos of the next generation Picanto city car, which now offers a bolder, more mature and more self confident look.


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Before the genius Steve Jobs died, this is what he accomplished. He revolutionized the desktop computer industry by developing the first mouse-driven software. Then he revolutionized the animated film business with sensational new Pixar software. Then he revolutionized the media business by developing digital publishing. Then he revolutionized television by persuading Disney to sell podcasts of their shows online. Then he revolutionized the music world by developing iTunes and the iPod. Then he revolutionized the telephone by creating the iPhone. Then he revolutionized tablet computing by inventing the iPad.
At his passing, those in the know said that Apple would do just fine without him.
Since his passing, Apple has continually been in the news with the following developments. It launched a new iPhone which looked exactly like the old one, except it did more things and did them faster. It released a list of the names of the manufacturers and suppliers that made all the iProducts, mostly in China, which resulted in terrible press about how the workers there were exploited. It released its stash of $100 billion in cash to buy back stock and pay dividends. It came out with a highly anticipated new operating system called Lion, which was slightly better than Snow Leopard. It came out with a new iPad that has a better screen and is a bit faster but is otherwise identical to the old one. Then hackers found out that with Apple’s new updated software, it was possible for anybody to download all your online photos, including any private stuff you never wanted let out.
Finally, there are the lawsuits. Here are a few filed in just the last month. Frank M. Fazio of Brooklyn has filed a class action lawsuit accusing Apple of misleading and deceptive advertising about its female mechanical voice, Siri. China sued Apple for intellectual property privacy violations. The U. S. Justice Department accused Apple of price fixing the sale prices of ibooks. And an 83-year-old grandma from Forest Hills named Evelyn Paswall filed a lawsuit against Apple for injuries she suffered by walking into a glass door she did not see at the Apple store in Manhasset, Long Island.
And that’s about all the Apple news. Other than that, Apple is doing fine and since Steve Jobs’ passing. The price of Apple stock has gone up.


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Firefox Drops Google in Favour of Yahoo
Ashley Allen / 3 years ago
Mozilla’s Firefox browser has abandoned Google as its search engine of choice and signed a five-year partnership deal with Yahoo. As of next month, both mobile and desktop versions Firefox will default to Yahoo Search, promising “a new search experience,” according to the Mozilla blog.
In a statement, Chris Beard, CEO of Mozilla, said, “We are excited to partner with Yahoo to bring a new, re-imagined Yahoo search experience to Firefox users in the U.S. featuring the best of the Web, and to explore new innovative search and content experiences together.” Firefox have had a similar agreement in place with Google – which provided 88% of Mozilla’s income in 2012 – since 2004, but the deal came to an end this year. Google will remain an optional search engine in Firefox, should users wish to change the default settings.


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A sneak peek, supposedly of an Apple's (NASDAQ:AAPL) new iPhone 6 circuit board has been released. The photos do NOT show InvenSense (NYSE:INVN) products, though it's assumed that the 6-axis gyro is in there somewhere. What it does show is a chip that appears to be an NXP sensor hub similar to the M7 that was debuted in the iPhone 5. This in turn implies that there is no SoC (system on chip) from InvenSense in the product, which is consistent with my statements that the new product line will take time to shake out and get traction. It seems clear that Apple is continuing its modus operandi of selling value hardware at non-value prices. It will be interesting to see how much value they've extracted from InvenSense.
In the meantime, departing CFO Alan Krock has sold virtually all (96%) of his shares in the company, and other insiders have been selling as well. As commented in my update article, this is not particularly damning, but the sales are also definitely not characteristic of individuals who know that InvenSense is about to experience the huge jump in sustained revenue that some have predicted.
INVN has recovered from initial post-earnings declines, but has not exceeded the highs it achieved before that event. Recently, the stock has been volatile in response to a report of delays in shipping, or maybe even introducing a wearable iWatch, as well as an article in Barron's noting the run-up in Apple suppliers and potential for pull back following the September 9th announcement. Both articles echo what was said in my InvenSense earnings preview over a month ago. That article was arguably wrong about the post-earnings reaction in INVN shares, in part because management failed to deliver on promises to detail the financial impact of recent acquisitions, and once again pushed out guidance on deals with new customers. I've long said that InvenSense will only get an Apple design win when the latter company introduces a wearable. Recent info indicates that I might wind up being wrong about that too, but I continue to think I'm right about INVN being at least fully valued at prices in the mid-twenties.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.


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Feb. 5, 2013 — -- You no longer have to use your phone to see the latest photos your friends have shared on Instagram. Today Instagram, which is owned by Facebook, announced a Web version of the service. It allows you to view your Instagram feed right through instagram.com on your laptop, tablet or desktop.
"To make Instagram even more accessible to our growing community, at the end of last year we started to expand to the desktop Web, giving you the ability to see profiles from instagram.com," Instagram's CEO, Kevin Systrom, wrote on the company blog this afternoon.
In December Instagram introduced Web profiles, which let you see your profile and some of your most popular images. You can now log in to Instagram.com with your username and password and view your entire feed. It's a lot like what you are used to seeing on your phone: You can like a photo by double-clicking right it and leave a comment below.
One thing you can't do is upload a photo to the service from the Web.
"We do not offer the ability to upload from the Web as Instagram is about producing photos on the go, in the real world, in real time," Systrom wrote. "On the other hand, Instagram for the Web is focused on making the browsing experience a fast, simple and enjoyable one."
Of course, it hasn't taken long for people to start saying this is the beginning of the Facebook-ization of the service. They imagine it releasing a "Newsfeed" of its own. Facebook acquired Instagram in April 2012 for $1 billion. Of course, you could also say Facebook is trying to become much more like Instagram. Facebook has been trying to offer all its services on mobile phones.
In December, Instagram announced plans to change its terms of service, which included some new clauses about licensing photos to advertisers. The snafu was dubbed "Instagate." Many users protested online and Instagram reversed course.
You can check out your feed now at Instagram.com.


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Note: This article is courtesy of Iris.xyz
By Bill Acheson
In the words of Steve Jobs, it’s time to “think different.” About technology, about your clients, and about your business.
There’s a lot of change going on in the investment world, and roboadvisors and new DOL regulations are just the tip of the iceberg. Perhaps the biggest shift facing advisors today is the emergence of crowdfunding as a major investing opportunity for younger investors. Whether you know a lot or a little about crowdfunding, now is the time to up your game.
The crowdfunding movement was born out of the Great Recession. In an effort to generate new growth, President Obama signed the Jumpstart Our Business Startups Act (JOBS Act) in 2012, and it revolutionized capital raising for startups. It also revolutionized investing for individuals.
Crowdfunding is currently forecast to account for more funding in 2016 than all of venture capital combined.
That’s a game changer. For advisors, crowdfunding is poised to have a huge impact on your business model—and your revenue—unless you take time now to learn about it and turn it into an advantage before it becomes a threat. If you’re not convinced crowdfunding is coming your way, consider the following:
- Crowdfunder, “the first truly diversified fund for early-stage startups,” invests in startups backed by top VCs in the index—at their same terms. Once the fund invests, select fund investments are shared with the investor network online. By offering a greater magnitude of diversification than traditional VC firms, Crowdfunder is able to capture early-stage market returns and deliver them directly to investors.
- On the popular crowdfunding site IndieGogo, Honey Flow, an Australian beehive maker, recently grabbed headlines for being the fastest campaign to reach $1M—and then $2M. With an initial startup goal of $70,000, after 15 minutes on Indiegogo, they’d raised $250,000. They’re currently the most successful crowdfunding campaign ever launched outside the US.
- At the end of 2015, Fundrise, a real estate crowdfunding platform, introduced its Income eREIT. The response from investors was swift and dramatic. By March 2016, the company had raised $23.4M in settled subscriptions. The company’s goal is to “give everyone the opportunity to invest directly in high quality real estate, without the middlemen.” Today, there are more than 80,000 members of Fundrise totaling nearly $3 billion worth of real estate investments.
- Crowdfunding site Kickstarter is now launching more books than all but the largest publishers. One of the most notable successes is Rebel Girls, a children’s book that tells the stories of 100 inspiring women by introducing young readers to role models from the Brontë sisters to Serena Williams. One hundred and forty days after launch, the campaign hit $1M in pre-orders, making it the biggest publishing project in Kickstarter’s history.
- Stratifund provides an independent, unbiased, centralized source of information about equity crowdfunding deals to let anyone invest in startup companies: Without a broker-dealer, and (are you paying attention?) without an investment advisor. According to the company’s website, Stratifund delivers independent research, easy-to-read reports and “all the info you need, with none of the fluff.”
What does the recent uptick in crowdfunding platforms and successes have to do with your advisory business? A lot.
Especially if you are hoping to attract and work with Millennials to grow your practice.
According to a 2015 survey by Capital One ShareBuilder, 93% of Millennials stated they were wary of the public markets. They lack trust in the markets and they lack knowledge when it comes to investing in stocks. It’s no wonder Millennials lack trust in the markets — they watched their parents suffer through the stock market crashes of 1987, 2001, and 2008, and it wasn’t pretty.
Click here to read the full story on Iris.xyz.
This article was provided by our partners at ETFTrends.


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(Des Moines) Publishers Clearing House and other companies that use sweepstakes to promote their mail-order products appear to be draining the income of many older Iowans, says Atty. General Tom Miller. Miller is warning Iowans to be wary of sweepstakes mailings that induce older Iowans to believe – falsely – that they may be close to winning a major sweepstakes prize, and that their chances of winning may go up if they order more merchandise or magazines.
“Hundreds of older Iowans are sending thousands of dollars each to Publishers Clearing House or other sweepstakes promoters in the false belief that they are close to winning a huge prize,” Miller said. “This causes an enormous drain and hardship for elderly Iowans, and a very difficult situation for families and care-givers.”
Miller sounded the warning at a news conference where he was joined by Ken Reif of Eastern Iowa and Mike Heller of Des Moines. Reif’s uncle, 91, and Heller’s father, 84, have spent thousands of dollars each and accumulated piles of books and products sold by sweepstakes promoters.
“Buying magazines or products does NOT increase your chance of winning,” Miller said. “By law, sweepstakes prizes cannot be awarded on the basis of whether you purchase something. In fact, most winners of major PCH prizes did not place an order with their sweepstakes entries.”
Miller also urged Iowans not to believe “personalized” letters that might lead them to believe sweepstakes representatives wanted them to win or they were close to winning. Some mailings show maps to the consumer’s home, or give tips on what to say if a “prize patrol” comes to their door. Some older Iowans have canceled a tripl to be home when the prize patrol might be expected.
“Many Iowans in their 70s, 80s and 90s receive repeated sweepstakes mailings from Publishers Clearing House,” he said. “Many of them have the strong, and wrong, impression that they are close to winning -- and that ordering more magazines or merchandise could make the difference.”
Iowans of advanced age have sent Publishers Clearing House and other sweepstakes operations several thousand dollars in a single year, and, for some Iowans, such payments go on year after year.
Ken Reif’s uncle, Clinton Reif, received 162 sweepstakes mailings from Publishers Clearing House in a two-year period, and he responded by spending more than $4,000 ordering products. Most of the merchandise was stacked, unopened, in his home and garage. Ken Reif showed a home video of his uncle’s garage and house, with piles of solicitations and boxes of products, mostly unopened.
Miller said his office has determined that 2,383 Iowans sent Publishers Clearing House at least $500 last year, and 852 Iowans sent $1,000 or more. Fifty sent more than $3,000 in 2006 – and their average age was 76 years old, according to the Consumer Protection Division.
Miller urged relatives, friends and care-givers to step in if they spotted warning signs that older Iowans may be vulnerable to sweepstakes solicitations:
- The older Iowan receiving numerous sweepstakes solicitation mailings because they are on lists mined by sweepstakes companies.
- The older Iowan receiving a large volume of magazine or other product purchases from a sweepstakes promoter. The items often are given away as gifts or stored unopened or unused.
- The older Iowan having a preoccupation with winning a major prize. For example, calendars may be marked with the date of the next big give-away, or several hours a week may be devoted to responding to sweepstakes mailings.
- The older Iowan having difficulty paying bills or covering expenses. The volume of orders may divert much of a person’s fixed income, or the consumer may ignore a developing financial crisis because he or she is convinced the Prize Patrol will soon deliver a big check.
Miller urged Iowans to contact the Attorney General’s Consumer Protection Division if they discover someone sustaining significant sweepstakes losses – 888-777-4590 (toll-free) or 515-281-5926. The website is www.IowaAttorneyGeneral.gov.
“We certainly can help anyone get off of Publishers Clearing House lists, we can provide advice, and we may be able to help obtain refunds for PCH customers,” Miller said.
He said the office is investigating Publishers Clearing House and looking into sweepstakes more broadly. He said his office would welcome information from Iowans.
MORE BACKGROUND AND DETAILS:
Sample Publishers Clearinghouse Mailings:
Publishers Clearing House – Profile of Iowa “High-Activity Customers”
The Attorney General’s Consumer Protection Division has determined:
- 2,383 Iowans sent Publishers Clearing House $500 or more
- 852 sent $1,000 or more
- 172 sent $2,000 or more
- 50 sent more than $3,000 – and their average age was 76
- 14 sent more than $4,000 – their average age was 79
- 5 Iowans sent more than $5,000 – their average age was 79
- 2,113 Iowans sent Publishers Clearing House $500 or more
- 694 sent $1,000 or more
- 134 sent $2,000 or more
- 33 sent more than $3,000 – and their average age was 72
- 13 sent more than $4,000 – their average age was 74
- 5 Iowans sent more than $5,000 – their average age was 76
Publishers Clearing House - Attorney General letter to 844 "high-activity customers"
In April 2007, the Consumer Protection Division sent a letter to 844 Iowans who each had sent Publishers Clearing House $1,000 or more in 2006.
- Told the consumer how much he or she had spent in 2006 (top spenders typically do not keep track of total spending).
- Warned of false beliefs that commonly resulted from PCH’s mailings.
- Informed the consumer that most winning sweepstakes entries were sent in without an order.
- Invited the consumer to be removed from PCH’s mailing list by returning a postcard.
So far, 263 Iowa consumers (31%) have returned the postcard and will be removed from PCH’s solicitation list. Those 263 consumers represent 2006 expenditures to PCH totaling $ 432,508.53.
Examples from the Attorney General’s files:
- An older Eastern Iowa man received 162 sweepstakes mailings from Publishers Clearing House in a two-year period, and he responded by spending more than $4,000 ordering products. Most of the merchandise was stacked, unopened, in his home and garage.
- In 2002, a Des Moines man discovered that his 79-year-old father had made a “multitude of purchases” from Publishers Clearing House and Reader’s Digest in pursuit of a sweepstakes prize, taxing a limited income needed for medical bills. Despite efforts at that time to stop the sweepstakes mailings permanently, in 2007 the same man (now 84) was discovered to have become the target again of Publishers Clearing House mailings, which led to another bout of sweepstakes-driven over-spending, much of it for items that were never even opened.
- An 83-year-old Council Bluffs woman recently complained that over the course of nine years of solicitations from Publishers Clearing House she had been led to believe she would win. “I’ve never been so disappointed in my life,” she said. She estimated having spent $7,000 or $8,000 of a modest fixed income in response to the sweepstakes mailings, much of it on products she didn’t want and later tried to return.
- A 100-year-old Cedar Rapids woman believed insinuations that she was going to win the sweepstakes, and eagerly awaited a visit from the Publishers Clearing House “Prize Patrol.” She also responded to a heavy stream of solicitation mailings by ordering more than $6,500 worth of merchandise in 2006. She didn’t want many of the items she ordered, and sold some of them at a substantial loss.
- A 92-year-old Des Moines veteran with a meager fixed income was the target of a large volume of Publishers Clearing House sweepstakes mailings in 2005 and 2006. He became persuaded that he was close to winning, and spent about one-third of his total income on Publishers Clearing House merchandise. Many of his purchases were stacked up, unopened and unused, leaving little space to move around his one-room apartment.


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Fendi is known as the master of fur but it seems the city of Seoul, South Korea is on the verge of canceling one of the biggest fashion shows presenting the fall/winter line of the Italian fashion house Fendi.
Fendi is expecting 1,200 people, including dozens of celebrities, hundreds of journalists and the general public, for the fall-winter launch, routinely one of its biggest marketing events of the year. However, Seoul officials have asked Fendi on Friday to pull its fur pieces from the event, but the company refused.
According to reports, Fendi designer had difficulty understanding the decision and had spent months preparing its collection.
Animal rights activists in Seoul had threatened massive rallies unless fur was removed. City official Seo Jeong-hyup said Monday that Seoul subsequently demanded it because of negative public sentiments.
The latest fall/winter collection of Fendi was scheduled to be displayed on a fashion event on an artificial island on the Han River next month.


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Take a look at the beta version of dw.com. We're not done yet! Your opinion can help us make it better.
Consumer price inflation in the US dropped sharply last month, the Labor Department has reported. Inflation levels moved further away from the Federal Reserve's target of 2 percent as crude oil prices tumbled.
The Labor Department announced Friday its Consumer Price Index (CPI) fell by 0.4 percent in December, marking the largest month-to-month drop in the average price of a basket of consumer goods and services since late 2008, shortly after the global financial crisis broke out.
Calculated over the 12 months through December 2014, prices increased by 0.8 percent. That's well below the Federal Reserve's target of 2 percent.
Slower global demand and increased shale oil production in the US caused an oil glut, sending crude prices tumbling. But declines in prices were also recorded for apparel, transportation and used cars.
What does the Fed make of it?
While Fed officials have viewed the anti-inflationary impact of low oil prices as transitory, an additional factor is in play: a strong greenback is making imports cheaper, taming price pressures.
Analysts expect the Federal Reserve will raise interest rates by June of this year, but the fact that the inflation rate is below target might bolster the case for further delaying any interest rate hike.
hg/nz (AFP, Reuters)