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- How to save a life: Lifeguards resuscitated young girl at Cape Splash (8/17/17)2
- Woman's post about 'Back the Blue' sign in Jackson coffee shop prompts firing from nearby bar (8/15/17)11
- Chaffee man charged with attempting to have ex-wife killed (8/20/17)3
- Former Chaffee officer faces DWI charge (8/20/17)2
- Scott City school chief gets raise, while some teachers don't (8/17/17)6
- PBS crew filming in Cape; Glenn House to be featured (8/17/17)
- Jumbo size: Rhodes 101 sets a world record with 15-foot, 4,700 gallon drinking cup (8/21/17)3
- Scott City Council reinstates police chief (8/16/17)1
- Unions deliver signatures to block right-to-work in Missouri (8/20/17)40
- Woman dies in house fire in Cape Girardeau County (8/16/17)
Macy's OKs racial profiling settlement
ALBANY, N.Y. -- Macy's has agreed to a settlement in a case in which black and Hispanic customers alleged the company targeted minorities in trying to catch suspected shoplifters, the retail chain confirmed Thursday.
The company agreed to make sure its security officers adhere to store policy and do not engage in racial profiling. A settlement with state Attorney General Eliot Spitzer is expected to be signed today, said Macy's spokeswoman Carol Sanger.
Spitzer spokesman Brad Maione declined comment.
Under a tentative agreement, Macy's would pay the $600,000 for the state's costs of examining complaints from black and Hispanic customers who said they were more often detained, questioned, searched and handcuffed than white customers, according to a law enforcement official familiar with Spitzer's investigation.
Macy's has agreed to adopt several measures including appointing a worker to investigate complaints and to train and supervise security personnel, the source said. It will also train security officers and sales people on how to avoid any profiling, and hire an outside auditor to perform unannounced reviews, according to the source.
The case involved the company's Macy's East branch, which has stores across the Northeast.
On the Net:
Attorney General's Office: http://www.oag.state.ny.us


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Three films released over the Eid Al Fitr holiday earlier
this month have been box office hits, and September promises more success, with two long-awaited releases. There’s a lot of online buzz about Waar (To Strike), which is scheduled for release on September 6.
That’s partly because the film tackles Pakistan’s flagging efforts to stem terrorism. The slick, high-budget venture is based on a real-life militant attack by the Pakistani Taliban against a police academy in 2009 and follows antiterrorism police officers as they try to stop subsequent attacks.
But Waar is also getting attention because of rumours that it was financed by Inter-Services Public Relations (ISPR), the publicity wing of the Pakistani Army but the
viagra for sale paypal still you great generic viagra online canadian pharmacy tightens as about cialis coupons eyebrows–AND IN of still buy generic viagra online in australia another mineral would beneath.
film’s director, Bilal Lashari, denies this.

domain: news


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American Airlines returned to the black in the fourth quarter of 2012 as it slashed labour costs and reaped other benefits from entering Chapter 11 bankruptcy protection.
Parent company AMR Corporation said that net profit came in at $262 million compared with a loss of $1.1 billion in the fourth quarter of 2011.
A full-year net loss of $1.9 billion was reported for 2012. Excluding reorganisation and special items, the loss was $130 million, a $932 million improvement over 2011.
British Airway’s US partner cut labour costs by 17% as it slashed thousands of jobs and reworked its union contracts to cut costs.
One-time gains such as an income tax benefit and the settlement of a business dispute also helped. AMR would have lost $88 million in the three months without those.
Revenue was down to $5.94 billion from $5.96 billion a year earlier.
The quarter included disruption caused by Superstorm Sandy and fallout from what the company called a pilot work slowdown.
Chairman and chief executive Thomas Horton has promised a decision within weeks as to whether American should merge with US Airways or exit bankruptcy on its own.
He said: “We have made enormous progress towards building the new American.
“It is remarkable what the American team has been able to accomplish, including generating record revenue and a return to an operating profit for the year while restructuring every aspect of our company.
“Our momentum is growing toward emerging as a strong, healthy and vibrant competitor. In fact, with what we have accomplished, we expect to show strong results beginning in the first quarter of 2013.”
American’s joint business agreement with British Airways and Iberia parent IAG over the Atlantic was instrumental in driving unit revenue improvements of 5.9%
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.


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Rockstar Games has released new artwork that seems to be related to the upcoming sequel to Red Dead Redemption. The artwork follows up the black logo on red background that was published last Sunday.
The new artwork shows the silhouettes of what appears to be a posse, a group of people banded together for purposes of law enforement.
Last Sunday the game developer changed its official website to show a black logo on a red background, an indication that the company would soon announce a sequel to the popular western game Red Dead Redemption.
When the sequel to Red Dead Redemption will be revealed still remains to be seen but it is likely that the game developer will reveal more information this coming week.


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PredictEV Will Help Make Charging More Accessible
In January, there were around 46,290 EV charging stations with 113,558 charging outlets in the United States. While many EV owners charge their vehicles at home or work, building a network of electric vehicle (EV) charging stations is critical to increasing mass adoption in the U.S.
More Americans are either purchasing EVs or considering purchasing them. However, it’s understandable that prospective buyers would feel less inclined to buy an EV if there are limited or no public charging stations available in their areas. What needs to happen to make EV charging more accessible?
One EV industry leader, Volta Charging, recently launched a program to improve the nation’s charging infrastructure.
Growing Demand for Accessible EV Infrastructure
The federal government’s Bipartisan Infrastructure Law will help meet the growing demand for EV charging stations. According to the U.S. Secretary of Energy, Jennifer M. Granholm, the goal of the infrastructure plan is to make EV charging accessible, so American drivers can save money and travel long distances.
The Biden Administration and the U.S. Departments of Transportation (DOT) and Energy (DOE) announced five billion in funding over the next five years for developing a nationwide EV charging network. With this funding, it’s expected that charging stations will be placed along the Interstate Highway System to modernize transportation for citizens in urban, suburban and rural areas.
Individual states are also taking their own strides towards eliminating the barriers currently hindering mass EV adoption. New York, for example, authorized more than $700 million in funding to implement incentives in the EV market in 2020, and California introduced submetering technology protocols in August 2022 that would allow EV owners to more easily measure their vehicle’s energy consumption.
The ultimate goal is to build a charging infrastructure that makes driving and charging an EV as easy as driving and fueling a gasoline-powered vehicle. However, the International Energy Agency (IEA) reported in 2021 that the U.S. stock of slow chargers only increased by 12%, the slowest among major markets. To put this figure in perspective, installed slow chargers in China increased by 35%.
In other words, this data shows that the U.S. is lagging in EV charging support compared to other countries. Is it possible that the EV charging situation could improve?
Volta’s Charging for All Initiative and the PredictEV Software
Volta is one company in the EV industry trying to solve the issues with EV charging infrastructure.
Last month, San Francisco-based EV charging company, Volta, announced its Charging for All program, which sets out to improve EV charging accessibility and equity. One reason Volta took on this initiative is to help EV owners in dense communities, apartment complexes or those without home or work charging stations access affordable and convenient charging.
While many regions lack sufficient charging stations, disadvantaged, underserved or low-income communities see far fewer EV charging stations. This discrepancy could lead to a more significant EV adoption divide.
A major part of Volta’s initiative is expanding the company’s PredictEV planning platform. PredictEV is a software product that uses machine learning (ML) and artificial intelligence (AI) to predict EV adoption and potential charging demand in one area.
PredictEV could make EV charging more accessible, equitable and affordable for communities across the country. Suppose there’s no solution to the issue of limited charging stations. In that case, the stress on existing charging stations could get significantly worse, which could deter potential EV buyers.
The Future of EV Charging Infrastructure
EV technology is expected to advance, but recent volatility in EV stocks could have a negative impact on the EV market as a whole. In the longer term, the EV market may see a strong mean reversion, meaning stocks will return to a reasonable level.
While the number of EV charging stations is expected to exceed the number of gas stations in the U.S., even more are needed to support widespread EV adoption. In addition, a statement from the White House suggests that modern charging stations must follow strong standards, including convenient payment methods, universal charging systems to accommodate the various types of EVs and equitable access across different states.
With more funding in the EV technology sector, government intervention and support and companies like Volta, EV charging infrastructure in the U.S. could eventually meet rising EV adoption and charging demand.
Meeting EV Charging Station Demand in the U.S.
By launching its Charging for All initiative and improving an advanced version of PredictEV, Volta Charging will likely become a more prominent player in the EV charging market.
The country must take various steps, such as offering incentives to potential EV buyers and implementing a sufficient number of charging stations nationwide to support widespread adoption. Without taking these measures, EVs may not catch on like they have in other countries.


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Facebook may buy maker of drones that fly for 5 years
- Sarah Drake, Contributor
A source with knowledge of the deal told TechCrunch the price would be $60 million.
Facebook is one of the main backers of Internet.org, an initiative that aims to bring Internet connections to 5 billion unconnected people, beginning with Africa.
TechCrunch said the company will begin by constructing 11,000 unmanned aerial vehicles that potentially have the capacity to monitor weather conditions, disaster recovery, communications and more, according to the article. The Menlo Park-based social networking company is especially interested in the featherweight aircraft Solara 60, which can maintain an altitude of 65,000 feet.
Two-year-old Titan Aerospace, led by CEO Vern Raeburn, operates a research and development center in New Mexico. All of the company’s production will be only for the Internet.org project following the acquisition, according to TechCrunch.
Titan Aerospace CEO Vern Raeburn wouldn't comment on the deal in an interview with our sister paper, Albuquerque Business First, but he said that the company has been looking for venture capital funding for several months.
The move comes just weeks after Facebook spent $19 billion to acquire mobile messaging app WhatsApp.
See a YouTube video below of Titan Aerospace’s drone in action.
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Statoil and ICA sign cooperation agreement
The collaboration agreement between Statoil and Sweden's ICA group has now been signed, and the new Statoil Detaljhandel Skandinavia AS company is beginning to take shape.
This company aims to open a pilot convenience store at a Statoil service station in the Oslo area as soon as the deal has been approved by the European Union competition authorities.
Plans call for just over 20 of these outlets, which will be called ICA Express, to be established on Statoil forecourts around Scandinavia during the present year. The two parent companies also intend to integrate their loyalty and charge card programmes.
ICA - incorporating Norway's Hakon Gruppen from 1 January - and Statoil initiated strategic planning for the new company in the autumn of 1998.
To be owned 50-50 by the parent companies, Statoil Detaljhandel Skandinavia will embrace sales of groceries, fast/ready-cooked food, services, motor fuels and car servicing at Statoil's stations.
Revenues for the group's 1 500 Scandinavian outlets totalled roughly NOK 25 billion in 1998, including about NOK 8 billion from non-fuel sales.
The new company will build further on the foundation of the previous business, with a total capitalisation of NOK 7.2 billion and a shareholders' equity of NOK 2.6 billion.
Its strategy is to utilises both ICA and Statoil brands, which explains why the convenience stores planned for about 500 of the largest stations are being labelled ICA Express.
These outlets will make a strong commitment to customers purchasing groceries as a supplement to their supermarket shopping. The other stations retain traditional forecourt stores with the emphasis on fast food and kiosk products under the Statoil name.
Mats Holgerson, former vice president for Statoil's retailing division, has been appointed president of the new company. Sverre Helno, previously vice president for the ICA supermarket chain, will be his deputy.
The interim board of directors during the negotiations has comprised Statoil's Sten Åke Forsberg (chairman) and Øivind Holm Karlsen with Svante Nilsson and Peter Ruzicka from ICA. They will also form the core of the new company's board.
Under the agreement, all employees in Statoil's retailing division are being transferred to the new company.
In addition to EU approval, the deal must be given the green light by the boards of the two companies before it can come into effect.
Statoil ranks today as Scandinavia's leading retailer of oil products, while ICA is the biggest player in the Swedish and Norwegian supermarket sectors.
With its head office in Stockholm, ICA has 2200 supermarkets in Sweden, 1150 in Norway and seven in Latvia. It operates through ICA Handlarnas AB in Sweden and Hakon Gruppen AS in Norway.
Development and operation of Statoil's service stations outside Scandinavia are not affected by the collaboration with ICA.
Further information from:
- Sten Åke Forsberg, chairman, Statoil Detaljhandel Skandinavia, tel: +47 22 96 20 00
- Svante Nilsson, chief executive, ICA AB, tel: +46 8 585 502 72
- Peter Ruzicka, deputy chief executive, ICA, and president, Hakon Gruppen, tel: +47 23 05 50 00, mobile: +47 95 29 85 04
- Morten Henriksrud, public affairs manager, Statoil, tel: +47 22 96 22 40, mobile: +47 90 01 69 60
- Elisabeth Lundberg, public affairs manager, ICA, tel: +46 8 585 59 267, mobile: +46 708 65 58 04
- Bjørn Richard Johansen, public affairs vice president, Hakon Gruppen, tel: +47 23 05 50 00, mobile: +47 95 29 85 00


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Archive for September 2017
Apple event 2017 is on today
Apple Event 2017 is on today 12th September at 19:00pm Zambian time. It’s a special event as it is the first time it will be held at Steve Jobs Theater. Apple Live Event Update https://twitter.com/DailyReportKE/status/907820945775239169 https://twitter.com/total_gossips/status/907766029429993472 Here are all the big #AppleEvent announcements including iPhone X, iPhone 8, the new Apple…Read More
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Logitech’s (s LOGI) Revue Google (s GOOG) TV set-top box has been jailbroken, thanks to a few dedicated Android hackers who were able to root the device and install a modified update (hat tip to GTVHub). The result is a Google TV device that plays content from Hulu and other previously blocked network TV sites. The hack also allows users to install third-party Android apps on the device, though access to the Android Market apparently doesn’t quite work yet. Check out the video embedded below for a first demo of Hulu on the hacked device below:
Don’t expect this hack, dubbed BreakVue by the Google TV hacker community, to go mainstream anytime soon. Users not only need a brand-new Logitech Revue unit that hasn’t received any system updates yet, but they also need to solder wires to the Revue’s board to add an additional port – not exactly something you’d expect the average consumer to do.
The software part of the hack is a little easier: Hackers have already started to distribute a customized update that includes a modified Flash (s adbe) player plug-in. Sites like Hulu.com have been using Google TV’s Flash player to identify the device and block people from accessing content. This seems impossible with the hack in place.
So what does this mean for Google TV? The history of iPhone hacking has shown that jailbreaks get easier to use over time, so we shouldn’t be too surprised if the Google TV hacker community eventually found a way to enable full Hulu access without the need to do any soldering.
More importantly, the hack shows that people are willing to do a lot to make some of Google TV’s promises come true and truly combine the full web with content playing on TV. If anything, it should be a warning call to Google to add access to the Android Market to the platform as soon as possible.


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Motorola Moto G5 Plus Android smartphone. Not announced yet.Specs and Images have been leaked.
9 months ago
Read in a minute
Moto G4 has been launched last year and the G-series doing pretty well in the budget phone arena.According to a post on Reddit, the images of a not yet announced Moto G5 (Fifth Generation) were found in a Romanian listing on online marketplace OLX.A guy was trying to sell the device for $388 in the marketplace However the listing was removed from the site.
According to the listing the phone has the following specs:
We can observe that the device is marked as a prototype.The device seems to be a plus version of G series fifth generation.The device sports a micro USB and a headphone jack.As for the design, the device takes some design cues from the Moto Z.The device is expected to be launched in March 2017 according to the listing.
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By Jon Johnson: For More Info, Go Here…
Cannabidiol, or CBD, is a natural compound that has gained popularity in recent years, thanks in part to a growing body of research into its potential health benefits, which may include treating depression. The initial results of some studies into CBD and depression look promising.
CBD has shown promise in initial studies as a treatment for both depression and anxiety, and it may cause fewer side effects in some people.
The findings of research from 2014 may help explain why CBD could be useful in treating depression. They indicate that, in most studies, CBD appears to have a positive interaction with serotonin receptors in the brain.


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Dollars & Euro- 20-Year High
The dollar soared to a new 20-year high against a basket currency and the euro fell below parity.
After data released Wednesday showing that U.S. consumer prices inflation rose to a 40-1/2 year high.
Dollars & Euro- Data Released
This morning's number was staggeringly high. It is higher than anticipated and indicates that inflation is moving.
Dollars & Euro- Morning Numbers
Consumer price index rose 1.3% last month, as gasoline and food prices remained high.
Dollars & Euro- Consumer Price Index
The consumer price index rose 1.3% last month, as gasoline and food prices remained high.
Dollars & Euro- Gasoline & Food Price
The euro fell to $0.9998 against the greenback before rebounding to the last trade at $1.0024.
Dollars & Euro- Rebounding Or
On the other side, the dollar continues to rise as the U.S. economy improves. The dollar continues to rise.
Dollars & Euro- US Economy Improves
The U.S. dollar index rose to 16% on Monday. This is despite higher inflation rates and lower domestic buying power.
Dollars & Euro- Higher Inflation Rates
Image Source-Politico.eu, Quartz
Dow Jones has been adversely affected by the data of inflation released by the officials of US Departments.
Dow Jones Stocks Affected by Inflation


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EA duets with SingShot
Game publisher acquires online karaoke community to help develop "unique music platform"; SingShot team to work with Sims division.
Electronic Arts may be heavy players in sports, action, first-person shooters, and just about every other game genre under the sun, but one category they've been relatively in the dark in is music-related games (except for this one). But like a wedding guest who has had one too many, it appears as though EA now has mustered the confidence and is getting ready to take the mic.
The company today announced that it has acquired SingShot, a San Francisco-based online karaoke community. SingShot allows users to upload their own renditions of karaoke classics like "Caribbean Queen," "At Last," and "Do You Think I'm Sexy?" all in a community-driven site akin to MySpace.
EA has not announced any specific plans for the five-man SingShot team, saying only that "The acquisition will help accelerate EA's efforts in community-building and promoting user-generated content through a unique music platform." However, it was disclosed that the team would work with the Sims division.
Game companies appear eager to get into the American Idol craze that has spawned millions of Clay Aiken wannabes across the country. In addition to EA's announcement today, late last week Sony president of worldwide studios Phil Harrison showed off the newest features of the upcoming PlayStation 3 karaoke game, Sing Star. The game will feature an online community for songbirds to strut their stuff and watch videos of their friends' performances.


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At the 2022 IRMI Construction Risk Conference, the President and CEO of FMI Corporation, Chris Daum, presented the opening session, providing insight into the construction economic outlook, trends that may impact the risks contractors face in their day-to-day operations, and some short- and long-term challenges and opportunities for the industry.
Currently, we are operating in a “less for more economy” with high inflation driving prices for almost everything. In all previous U.S. recessions, the price of crude oil has increased by over 50%, which has happened twice in the last two years. In the construction industry, nonresidential costs have increased over 25% in the last year. In response to the pandemic, the federal government injected over $5 trillion in stimulus funds to boost the economy, increasing debt by 245% and overstimulating the economy. These stimulus funds increased consumer spending, resulting in supply chain shortages and dramatic inflation. Personal spending increased over 16% during a 12-month period, but millions were still unemployed. In fact, compared to the expected growth patterns before the pandemic, the U.S. workforce is still missing over 2.8 million workers.
The economy was also adversely impacted by a Zero Interest Rate Policy (ZIRP) which was pursued for many years in several countries including the U.S. With no-risk free yields available, this led to poor investments in risky ventures. A return to “normal” interest rates compared to the historic lows consumers are used to experiencing, can actually be beneficial for the economy. However, without a positive cash flow, some companies may go out of business, like tech companies and start-ups.
The Next Five Years
Looking forward, it is expected that over the next five years, all private construction in the U.S. will decline due to a combination of upward wage pressure, inflationary costs, and higher interest rates. While data centers and warehouses have accounted for significant growth in the industry in the last few years, particularly due to Amazon’s expansion, it is expected to slow.
For the last 30 years, 65% of construction markets have underperformed the average. Twelve markets have dominated total construction spending, accounting for 30% of all costs, representing the largest cities in the U.S. Despite their spending power, many of these cities have experienced declining populations, including California, New York and Illinois, while Florida, Texas and Arizona have seen significant population growth.
Almost every industry in the U.S. is experiencing significant labor shortages. The construction industry has experienced stability with respect to its workforce, but wage inflation continues to prove challenging. Statistics also show that construction labor productivity has been declining over the last 15 years.
Many businesses are facing a rapid rate of retirements, with experienced mid-level managers leaving at a rate of over 10,000 employees per day. That brain drain means most new mid-level managers have not managed throughout an economic downturn.
As we head into an economic downturn, it is important for construction firms to have a clear and accurate value proposition, a rigorous project selection discipline, a firm client selection process and planned contingencies for different scenarios.


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Advertising students from Swinburne University of Technology, The University of Queensland, and Western Sydney University will compete in the annual Advertising Capstone Challenge (ACC) 2020 for the opportunity to pitch their advertising campaign to executives from Suzuki Australia and Deloitte Digital.
Suzuki is currently celebrating its 100th year and was recently voted the ‘Best Cars in the Universe’ by the Universal Automotive Authority in May 2020. It will be exciting to see what direction this new generation of advertising professionals will take Suzuki Australia, especially in the wake of a global pandemic where car sales have significantly declined.
“It’s always exciting to see how the next generation of Australia’s creative thinkers tackle briefs in their own unique ways. The Capstone Challenge is a wonderful opportunity for students, agency and client alike and we’re looking forward to being surprised,” said Adrian Mills, Lead Partner Creative Brand and Advertising for Deloitte Digital.
This competition allows final year university students to network and connect with the advertising industry through collaboration and competition. In previous years, the ACC has given students the opportunity to pitch to clients from McDonald’s Australia, Lion Dairy (Dare Iced Coffee), 7 Eleven (Slurpee), and Cricket Australia (WBBL).
Co-founder of the ACC and advertising lecturer at Swinburne University of Technology David Reid said: “while the pandemic is changing the way the competition is run, I am looking forward to seeing the work that students produce for Suzuki Australia and Deloitte Digital.”
To enhance the new virtual elements of this year’s challenge, the ACC has launched a website which will allow students to access additional resources, featuring weekly presentations from leading Industry Executives that will bring students and industry professionals together for deeper engagement.
Each student in this year’s winning teams will secure mentorships with Deloitte Digital Executives, providing an ongoing opportunity to learn from some of Australia’s best creative and strategic minds.
Frameplay today announced its first global integration with Magnite to provide advertisers with the ability to buy intrinsic in-game advertising programmatically. The combination of Frameplay’s software developed for in-game advertising and Magnite’s scale and experience in programmatic technology across any format and screen provides advertisers with greater access to engaged audiences. Current RTB programmatic capabilities […]
Advertising spend on e-commerce platforms is set to rise sharply this year despite the global recession, reaching a total of $US58.5bn ($83bn). Advertising investment across e-commerce sites such as Amazon, Tmall and Rakuten, omnichannel retailers such as Walmart and Carrefour, and social commerce on platforms such as Pinduoduo and TikTok is set to increase 18.3 […]
Online insurance comparison website, Compare the Market Australia has appointed Emma Alberici as Chief Strategy, Government Relations and Communications Officer. Previously, Alberici was chief economics correspondent at the ABC, one of many senior positions she held during her 18 years with the organisation. Before this, she was a senior journalist at the Nine Network, where […]
VA Media has announced the launch of new YouTube content ID service for producers, production companies and film & television distributors. VA Media owns and manages some of the world’s largest movie and TV-based YouTube channels, including Movie Central– which boasts an impressive 20M views monthly. The newly announced fee-based service is designed to enable […]


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As data shows that recalls are increasing across food, consumer products and automotive, we look at what risk managers can learn from the past and how to minimise the threats for the future
Product recalls can have significant effects for businesses, ranging from legislatory and financial consequences to reputational issues and falling customer demand.
Despite this, product recalls are rising according to RQA Group’s Product Recall Report for 2023, which examines recall data from authorities across the UK, EU, USA, Canada, Australia and New Zealand.
The report looks at three main areas, food recalls, consumer product recalls, and automotive recalls, all three show significant causes for concern.
Vince Shiers, managing director at RQA Group, says: “Looking back can help with understanding future risks and horizon scanning, a favourite topic of risk managers.”
- Largescale recall events are driving average number of different products recalled per FDA recall event to the highest since before 2017.
- Cosmetics accounted for over a third of EU Safety Gate recalls, which drove numbers to a record high for recent years in 2023.
- US CPSC (Consumer Product Safety Division) data shows a significant increase in number of recalls – there were over 10% more recalls than 2022, an already record year in the US.
- NHTSA (National Highway Traffic Safety Administration is an agency) reported over 39 million potentially affected units in 2023 with an average of over 40k units per recall event.
Risk management lessons from food recalls
The data in the RQA recall report shows that most food recalls in the US, UK, Canada and Australia are due to microbiological contamination (e.g. listeria and salmonella) and allergen labelling issues.
This has been pretty consistent for the past few years and shows the importance of extra focus being put on preventing these types of food recalls.
Also, of the US FDA food recalls in 2023, 46% could be classed as Never Events meaning the allergens aren’t correctly listed.
What is a Never Event
A category of recall defined by RQA as an event that is dangerous and should not happen e.g. putting the wrong label on a product (or putting a product in the wrong pack).
In the UK, over 30% of all food recalls reported by the Food Standards Agency (FSA) in 2023 could be classed as Never Events.
Shiers says: “If there is one area for risk managers and quality personnel to focus on, it is making sure that more effort is put into preventing this type of product fault. Such action would significantly reduce the number of food recalls.”
“Risk managers will seek contaminated products or recall insurance cover which can protect their balance sheets from potentially catastrophic events.”
Another finding from the US FDA data is that the number of different products recalled per recall event is increasing. This means that in general recalls are getting broader and there are some very large recalls.
Businesses must ensure they are prepared for these larger recalls, making sure their recall plans are fit for purpose, their teams are well trained and they have the right insurance in place.
Shiers says: “In such a climate of increasing scale of recalls, risk managers will seek contaminated products or recall insurance cover which can protect their balance sheets from potentially catastrophic events.”
Learning from consumer product recalls
In the area of consumer products, recall numbers are rising substantially in the US and the EU where record high numbers were seen in 2023.
These recalls can also be very large scale, with over 134 million units recalled in the US in 2023.
Shiers says: “Risk managers who may never have faced a recall situation, may find themselves facing a nationwide or international recall involving vast numbers of products.
“This requires effective leadership, training, communications and resource management to ensure the company survives such an incident. Risk managers will likely be “in the thick of it” and will be relied upon to help the company come through the ordeal and eventually back to usual business.”
“Looking at recent product recall trends can help understand where issues may arise in the future; and therefore where to focus limited resources.”
Automotive recall threats
Finally, in the automotive sector, recalls are changing as the market for vehicles change with more electric cars, increased sophistication in sensors and software.
Software is likely to become an increasing cause of automotive recalls as more of the car is controlled by computer systems.
Of course, there is also an advantage with software, in that it may be updated “over the air” (OTA), without the need for recall action.
The RQA report highlights some cases of software errors that have resulted in recall. This shows that the automotive risk managers’ role may also need to evolve to be more computer focused.
Shiers concludes: “The role of the risk manager in all sectors is ever-broadening and evolving. This results in more challenges, but looking at recent product recall trends can help understand where issues may arise in the future; and therefore where to focus limited resources.”


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Area F2, a game sold on both the Google Play Store and the App Store, was developed and added by Qookka Games. Of course, this game caught the attention of Ubisoft. Because the game was the carbon copy of Rainbow Six: Siege, which is part of Ubisoft.
Ubisoft sues both companies!
The game’s resemblance to Rainbow Six: Siege, which we can call almost the same, caused the case. Having sued the federal court in Los Angeles, Ubisoft took over Google LLC and Apple Inc. Voicing the rights of Rainbow Six: Siege, which has 55 million registered players in the world, has been violated, Ubisoft has accused companies that allow the release of Area F2, which copies the game, with copyright.
The interesting part is that Ubisoft informs Apple and Google about the issue before the case. He even wants him to remove the game from their store, but neither company accepts the offer. Ubisoft has no other choice. If the game is really a copy, the winner of the case is already clear. Let’s see how the process will proceed.


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Welcome to Crypto Insider, Business Insider’s roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox.
The Litecoin Cash foundation announced Monday it will split a new cryptocurrency from litecoin, to be called litecoin cash. Meanwhile, litecoin creator Charlie Lee has called the fork a scam.
Here are the current prices:


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Fairmount, Georgia, has been a hotspot of development lately, according to Andy Lowery, owner of Southern Breeze motorcycle shop. As a result, he and his girlfriend found a “perfect location” to open a shop in town, he told the Chattanooga Free Times recently.
Southern Breeze opened at the beginning of March and sells motorcycle gear and apparel, including boots, jackets, helmets and shirts. Lowery also told the Free Times that he plans to sell food like hot dogs and deli sandwiches.
“Every now and then, you just need a little wind therapy on two wheels,” he says in the article about the origin of the name Southern Breeze. (Editor’s note: Even we northerners could use a little southern breeze and two-wheel therapy, so kudos to Lowery on the name.)
Lowery also credits his girlfriend for helping him get started and stocking women’s gear. He says there have been a few challenges with the food service end of the business and sourcing, but things will be sorted out in time for the summer riding season.
The shop owner says that there’s a great deal of motorcycle traffic in the area, and on Highway 411, where Southern Breeze is located, which should help with getting customers to come in and check the place out.
Currently, Southern Breeze is operating by appointment and with open times posted on their website and Facebook page. PSB wishes the new motorcycle shop good luck in its new endeavor.
Read the full story on the Chattanooga Free Times website.
(Correction: Southern Breeze reached out to inform us that they are actually located in Fairmount, Georgia, not Dawsonville, as was indicated earlier.)


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WH Smith profits to rise after switch to higher profit items
WH Smith is expected to report this week that it weathered the high street storm over the festive period.
Stockbroker Peel Hunt said it expected the stationery chain to confirm profits were on track to increase this financial year despite a competitive Christmas.
It estimated annual profits would increase by about five per cent to £106.7 million.
Booking profits: WH Smith is coping with fewer book sales as readers opt for ebooks.
The retailer has switched to selling more profitable products and has also increased profit margins by reducing its costs.
It is expected to say that same-store sales in the first 19 weeks of its financial year dipped by about four per cent.
However, Peel Hunt said WH Smith’s long-term growth could be hindered if consumers began to buy more e-books rather than buying books in its shops.
WH Smith argues that many of its shoppers buy only a handful of books a year and were less likely to switch buying digital books.
The chain’s highly regarded chief executive, Kate Swann, plans to leave the company this year.
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PHOENIX — Travelers were frustrated Wednesday while attempting to rent a car at Sky Harbor International Airport, leaving doubts about the industry’s ability to serve visitors coming to town for the Super Bowl.
Agents at Avis and its sub-company Payless told waiting customers they had cars available, but not enough staff to get them to the airport location.
“They have cars, but no people to move them. And how long will it take?” said traveler Bud Tuttle from Albuquerque. “They have no clue, and people are waiting and getting really irritated. Time is everything right now. We need to get out of here.”
There were issues up and down “rental car row.” Hertz staff said they were low on inventory, and not taking any walk-ins. Meanwhile, Budget was packed — the long, snaking line taking its toll on travelers.
“The line is brutal,” said Tracy Stratton, on her way to visit the Grand Canyon. “I waited like an hour and a half.”
Stratton said she pre-paid online and was glad to be getting a car at all.
Nancy Melton is a manager and master travel consultant for Preferred Travel Services in Phoenix. She says many rental car companies haven’t replenished inventory since COVID and are now running low, especially at the airport.
She says this is already a busy season in the Valley with the events like the Barrett-Jackson Car Auction, Phoenix Open, and snowbirds escaping winter back East.
But Melton says she’s optimistic rental companies will pull in vehicles from out-of-state and be ready for the Super Bowl.
“No doubt it’s going to be tight, but I am seeing car availability.”
At last check, cars were renting for around $80 a day Super Bowl weekend, but Melton says to reserve now, as availability will shrink even more once the two participating cities know for sure they’re coming to Phoenix. And she advises travelers to keep their options open.
“There’s always the idea of maybe renting from another company and not at the airport. They might have more availability,” she said.
She also warns travelers to make sure the website they’re booking with is legit, or use a travel agent to be safe.
“I have a colleague that said, ‘You can talk to us, or you can talk to the mouse.’ So when you book something online on some of these websites, you don’t really have a lot of leg to stand on.”
Meanwhile, travelers at Sky Harbor said if the flow of service doesn’t improve —and soon — they have serious doubts about the Super Bowl.
“Uber drivers will be happy,” Tuttle said.
“Total chaos!” said traveler, Paul Muchnik about the long line at Budget. “Good luck in two weeks with the Super Bowl and Phoenix Open.”
“They had better get here early and have food in their stomachs because they’re going to wait a while,” Stratton said.
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Beirut. The new Porsche Panamera now reconciles two contrasting characteristics more than ever before: the performance of a genuine sports car and the comfort of a luxury saloon. In its second generation, Porsche’s Gran Turismo has been redefined and realigned, advancing to become a performance icon of the luxury class. With the latest transformation, the Stuttgart-based manufacturer has systematically improved the Panamera concept and is therefore introducing a four-door car that has been...
The Porsche Panamera – A Completely New Development!Date :
June 29, 2016
Lego Porsche 911 Looks So Real You Just Want To Drive It!Date :
June 08, 2016
This Lego sculpture took us to a whole new level, with its own 911 version of the race car in Sweden at Scandinavia Mall! This full-sized Lego car includes all details from the exterior to the interior making all our Lego memories and “accomplishments” in vain! Who else thought that his own Lego creations were the Thing?! Anyway, let’s get back to the real deal here! In order to sculpt the vehicle’s shape, plastic blocks were used highlighting the curves of the 911...
Porsche Centre Lebanon powers forward with E-Performance advancementsDate :
May 26, 2016
Porsche Centre Lebanon is taking pioneering steps into the future with the installation of multiple E-Hybrid charging stations capable of powering the brand’s plug-in hybrid models at their Dbayeh, Corniche de Fleuve and Downtown showrooms. The now-operational indoor and outdoor units are in-line with Porsche’s global commitment to electric mobility and reducing emissions with efficient models that produce sports car performance. The brand’s advancements in alternative fuel technology -...
Meet the All New Porsche 718 Boxster!Date :
February 01, 2016
Beirut. 20 years after the first Boxster made its debut, Porsche is restructuring its mid-engine roadsters. With the introduction of new versions of its two-seater convertible, Porsche continues the tradition of four-cylinder flat engines used in the 718 mid-engine sports cars that won numerous races back in the 1950s and 1960s. The newly developed engine with turbocharging result in the 718 Boxster developing 300 hp (220 kW) from 2.0 litres of engine displacement. The 718 Boxster S, on the...
New Porsche 911 range and Macan GTS at Qatar Motor Show 2016!Date :
January 13, 2016
A showcase of Porsche’s performance evolution will exemplify the brand’s pioneering steps into the future at the 2016 Qatar Motor Show (QMS). Taking place at the Doha Exhibition and Convention Centre (DECC), a range of new Porsche models will celebrate their regional debuts. Amongst them will be the 911 Carrera 4S, 911 Targa 4S and the all new Macan GTS. In follow up to its world premiere at the 2016 edition of the North American International Auto Show in Detroit, Porsche will also bring...
Green light for Mission E!Date :
December 09, 2015
The first 100 per cent electrically powered Porsche is on its way. During its meeting last Friday, the supervisory board of Dr. Ing. h.c. F. Porsche AG gave the green light for the Mission E project. Dr. Oliver Blume, Chairman of the Porsche Executive Board, referred to the decision as "beginning a new chapter in the history of the sports car." The vehicle is due to be launched at the end of the decade. With the Mission E project, Porsche is continuing to foster sustainable growth. The...
Porsche Centre Lebanon’s ‘Classic Meets New’ exhibition wins over BeirutDate :
November 05, 2015
Beirut. An impressive display of Porsche’s unrivalled performance heritage took centre stage in downtown Beirut last week, as six decades of the brand’s extraordinary sports cars were brought together in a unique public display. The event was inaugurated by Lebanon's Minister of Tourism His Excellency, Mr. Michel Pharaon and Mr. Mounir Douaidy, General Manager of Solidere. Close to 5,000 Porsche enthusiasts and those with an appreciation of iconic design and automotive prowess had the...
Meet the new generation of Porsche 911 Carrera!Date :
September 11, 2015
Porsche 911 starred as the best-selling sports car in the world for several decades. A new generation of the "911 Carrera" has been created now with two advanced turbo engines sophisticatedly structured for an ideal performance, along with a brand new entertainment system. Thanks to Porsche’s four decade of experience in turbo engines, whether in sports car racing or commercial models, these two new engines bring the leading standards in terms of performance, driving pleasure and...
6 facts you don’t know about Porsche!Date :
July 10, 2015
From the Porsche 911 to the Cayenne, Porsche has proved itself to be one of the most recognized auto brands that surely captures our attention on the road and makes us drool over its exquisite touches from the front, to the side; to the rear…Okay I am going to stop now. Other than the facts we all know such as it is “kind of” expensive, here are some 6 interesting facts you don’t know about Porsche! 6- Porsche was a motor development and consulting company. Ferdinand Porsche founded the...
Porsche models in 2035!Date :
June 25, 2015
Ever wondered how the race cars of the future will look like? Well,Le Mans is about to get Pimped by ground breaking race cars! Korean designer Gilsung Park has brought his imagination to another level, and has visualized how the LMP1 prototype race cars will look like in 2035 concentrating on this year’s successful brand: Porsche. The future extreme Porsche will feature the 918 Spyder’s design and: 1) Advanced electric power train 2) Fluid aerodynamic body panels 3) ...
Is This The Most Epic Parking Fail You’ve Ever Seen?Date :
May 09, 2015
Good job the Porsche was covered! Don't be too hard on her. It’s an easy mistake to make. The gas pedal and brake pedal are so close together, it seems odd we don’t see hilarious accidents like this one more often. These horrifying images were taken in a parking lot in Beijing, courtesy of Car News China. Driving her VW Touareg away from her spot, the driver of the large SUV came face to face with the sexy white Porsche 911, which was ironically covered to keep it well...
What Is Porsche Quickly Developing That'll Officially Make Cars Smarter Than People?Date :
May 04, 2015
By now we’re pretty much aware of semi-autonomous driving and active cruise-control systems. And, as expected, automakers are quickly advancing these technologies that only a decade or so ago would have been straight out of a science fiction movie. One of those automakers is Porsche and according to a new report from Car and Driver, it’s already testing its next-generation cruise control system called InnoDrive. Why is it so advanced? Porsche claims it’ll be able to handle cornering up to...
Porsche Panamera Turbo crashed in Mexico City by a diplomat's sonDate :
January 02, 2015
A silver Porsche Panamera Turbo has been recently crashed in Mexico City, Mexico. The luxury high-end limousine from Germany was driven by the son of a local diplomat, who ran a red light, hit another vehicle and finally ended on the sidewalk. Immediately after the accident, the Panamera Turbo driver fled the scene and the assistant took the blame for the accident. There’s still no information if anyone got hurt during the crash.
Porsche introduces their $500 running shoes!Date :
December 02, 2014
Just in time for Cyber Monday, Porsche has unveiled their €400 ($500 / £317) Bounce S4 running shoes. Designed to appeal to well heeled runners, the shoes feature a carbon baseplate and exclusive Bounce technology that promises to provide "serious cushioning." While that sounds like marketing hyperbole, Porsche Design says the shoes have a flexing suspension system that transfers vertical impact into forward propulsion.The company goes on to say they shoes have a "futuristic" seamless...


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Green tech finds (8/5/10)
NASCAR, bicycles, and recycled guns… your green tech finds for the week.
- It all started with the bicycle: Trade pub Mechanical Engineering sings praises to the bicycle… not only as an engineering breakthrough for its time, but also as a “platform” for other transportation developments.
- NASCAR goes solar: Well, sort of… the Pocono Raceway in Pennsylvania now operates the tenth-largest solar farm in the US (and the biggest of any sports arena in the world).
- Hybrid port cranes: The Port of Los Angeles will be testing out diesel-hybrid technology on rubber tired gantry cranes (which move and stack shipping containers) thanks to an EPA grant.
- Solar panels are hot: According to Stanford University researchers in the journal Natural Materials, solar cells become less efficient in higher temperatures… so they’re working with new materials and concepts to capture energy from both light and heat. (via SmartPlanet)
- Concierge “green-tuning”: Colorado-based Green Garage “specializes in ‘green-tuning’ cars to run cleaner, greener and cheaper through sustainable, energy-saving automotive maintenance and repair products”… and brings a mobile garage to your home for pick-up and delivery. (via Springwise)
- Artificial energy-storing islands: The Green Power Island is a concept put forth by Danish architectural firm Gottlieb Paludan for storing the country’s ample supply of wind power. That’s an artistic rendering of an island for Copenhagen above. (via Planetsave)
- Online shopping is greener… right? That’s what the United States Postal Service claims with data on greenhouse gas emissions for delivery vs. driving to the mall. The Inspired Economist’s Heidi Tolliver-Nigro wonders if all factors have been taken into account
- Not exactly swords to ploughshares: But the Los Angeles County Sheriff came up with an innovative way to recycle seized guns… melt them down, and turn them into rebar for highway projects. (via ecopolitology)
See any cool green tech stories this week that we missed? Let us know about them…
MORE FROM SUSTAINABLOG:
- Check out our slideshow of seven sexy solar homes.
- Decorative green tech: check out our current listings of solar fountains for the yard.
Image credit: Green Power Island


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Clear biometric tech deployed at Birmingham-Shuttlesworth International Airport
Clear members traveling through Birmingham-Shuttlesworth International Airport (BHM) are now able to use the biometric identity membership platform to verify their identity with a tap of the finger or the blink of an eye to get through security checkpoints quickly.
“Today’s launch is an important step toward making travel stress disappear from The Magic City,” says Howard Kass, EVP, Corporate Affairs at CLEAR. “We’re excited to open here in Birmingham and proud to have created 25 new jobs, which will enhance the BHM experience, and help support the local community as well.”
BHM served more than 2.9 million passengers in 2018 and has more than 100 daily nonstop and direct flights to over 15 cities.
“Our goal at BHM is to provide passengers an easy and convenient travel experience,” says Ronald Mathieu, President and CEO at Birmingham Airport Authority. “We are happy to partner with CLEAR as we are committed to enhancing and elevating every customer’s experience at our airport.”
Clear’s biometric identity membership platform is available in more than 60 airports and sports stadiums across the United States and in select cities can be used to buy food and drinks and prove legal age for alcohol purchases. There are more than 3.8 million Clear members in the United States.
In January Clear announced a new round of financing which is being used to accelerate the continued expansion of Clear’s platform and its airport and stadium network into new verticals. The company was recently named to the CNBC Disruptor 50 list for its work in biometric payments, age validation, and changing travel experiences. CEO Caryn Seidman-Becker and President Ken Cornick were named winners of the 2019 EY Entrepreneur Of The Year Award for the New York Region.
Last week Rod Allison, former Acting Deputy Administrator of the TSA, joined Clear as Vice President of Operational Security.


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A lack of semiconductors has troubled manufacturers and hampered production throughout the world, as more advanced automobiles need more and more computer power.Ford Motor Business took a step toward addressing that problem on Thursday, announcing cooperation that may offer the company more control over both the supply and design of its chips — the brains that regulate engines, gearboxes, brakes, infotainment systems, and other systems.
In a statement, Ford said it had signed a nonbinding agreement with the US-based semiconductor supplier GlobalFoundries to collaborate on producing chips for cars, and that the firms would look into increasing local chip production.Despite the new collaboration, Chuck Gray, Ford vice president of vehicle integrated software and controls, expects chip supply will continue to be inconsistent for some time. “We continue to expect fits and starts for the rest of the year,” he added.However, he stated that Ford collaboration with GlobalFoundries will enable it to begin producing some of its own computer chips.
The demand for processing power is now quite great, and we must have the appropriate processors performing the right things.”In recent years, automakers in the United States have employed tens of thousands of software engineers and programmers. Mr. Gray stated that Ford is currently trying to hire chip designers as well. “We will be building it out in the near future,” he stated.
General Motors is also taking measures to improve its understanding of semiconductor development and availability. As a result, Mark Reuss General Motor President stated, G.M. is collaborating with semiconductor vendors to build three types of microprocessors to meet practically all of its processing requirements.


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According to The Korea Herald, Samsung Electronics recently published a regulatory filing for H1 2013. The numbers they focus on are sales in specific territories. The Americas is where the company makes their most money, 26.7 percent of revenues. Next up is Asia and Africa, which are combined, but specifically excludes China. That’s at 23.3 percent. Europe is next at 21.5 percent. And then there’s China itself at 16.4 percent.
This time last year, that China number was 20.4 percent. So what’s responsible for that steep drop? Local vendors. Companies like Huawei and ZTE are the ones most people recognize for their cheap handsets, but there are others. Coolpad, Lenovo, THL, Vivo Play, and the list just goes on and on. They sell devices that have the specs of Samsung’s $500 phones for $300 or even less.
Let’s also not forget that the largest slice of the smartphone market in China are devices in the 999 RMB range, which comes out to around 160 American dollars. Local players can do a lot for that price, whereas Samsung … let’s be honest, their low end hardware is below average; that’s a compliment.
Update: Additional coverage on The Next Web.


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Amazon, the US-based online retailer, is one of a string of US companies—including tech start-ups and giants like Google—getting involved in India of late. Amazon has announced that it will be opening a new Fulfillment Center, its specialized version of a warehouse, in Hyderabad, India. The 28,000 square foot center will be the company’s largest warehouse in India, and its biggest investment in India to date. Amazon has greatly expanded its operations in India since entering the country in 2013. The new warehouse will be one of 11 Fulfillment Centers it has so far across India, spread throughout nine states.
Having a robust physical infrastructure is important, but Amazon has also engineered innovative solutions to penetrate the Indian e-commerce market. They have recently set up a subsidiary logistics company, Amazon Transportation Services Private Limited (ATSL), in New Delhi. It will aid Amazon India’s EasyShip model that cuts delivery times by bypassing distribution centers altogether. Launched last year, the service gives sellers the capability to directly ship products to the doorsteps of customers. The EasyShip model made Amazon the first online retailer in India to offer one and two day guaranteed-delivery services. The new logistics company will bolster this “last mile delivery” service, which many companies are betting on as the key to tapping into the growth of India’s e-commerce market. Because of EasyShip’s success, Amazon has plans to employ the model in the US, the UK, and China.
The creation of ATSL serves two important purposes: first, to compete with third-party delivery services in India by keeping logistics within the company, and second, to keep pace with large domestic rivals, like Snapdeal and Flipkart, who also possess logistics services wings. Both companies have been pursuing aggressive strategies to increase their market share. In a global investment push, Flipkart recently raised over $600 million. Likewise, Snapdeal has expanded its e-commerce services to offer online financial services and loans.
The Indian e-commerce market, already a $6 billion industry in 2012, is expected to reach $43 billion in 2018 and $76 billion by 2021. EasyShip has allowed Amazon to scale up its operations in India, and has already accounted for more than 60% of total shipments. The company’s sales in India are expected to exceed $2 billion in fiscal year 2015.
Chad Westra is a Research Intern at the East-West Center in Washington and an undergraduate student at Calvin College.


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Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.
A patent application filed by Sony depicts a folding two-screen device that can be held like a book, or typed on like a laptop.
The patent paperwork explicitly states that there are “first and second touchscreens,” that “the image of a keyboard” could appear on one screen, and that “electronic book files” would be storable. The device would be “connectable to a solar charger.”
The future of e-readers is, analysts are coming to agree, that multi-function devices like Apple’s iPad will replace high-end standalone e-readers like Sony’s Reader and Amazon.com’s Kindle. A $500 reader won’t fly in 2014, the UK analyst firm Informa wrote in a study published this week.
GoRumors blogger Anand Srinivasan also scoured Sony’s patent application. Here’s the 100-word version of his findings:
A new ebook reader that seeks to double up as a laptop … a two screen display which can be held like a regular book … an accelerometer [to detect how the gadget is being held] … the user can turn the lower screen into a touchscreen based QWERTY keyboard … use of GPS to access location-specific content.
Sony’s device seems a more direct attempt to create an alternative to low-cost netbook laptops, one that doubles as a book-like reader. The obvious two benefits are a lower overall price and only one gadget to carry instead of two.
The concept of a laptop with a touchscreen keyboard has a novelty appeal, but it also says something about the intended market: Unlike the road warriors of the past who carried top-of-the-line laptops for constant typing, there’s a new demographic of mobile content consumers and producers that sticks to short messages. They don’t need a ThinkPad-grade keyboard to type on. Hopefully for Sony, they’ll be able to build a sexy-looking device that can serve as a status symbol like the company’s early Vaio laptops.
Don’t miss MobileBeat 2010, VentureBeat’s conference on the future of mobile. The theme: “The year of the superphone and who will profit.” Now expanded to two days, MobileBeat 2010 will take place on July 12-13 at The Palace Hotel in San Francisco. Early-bird pricing is available until May 31. For complete conference details, or to apply for the MobileBeat Startup Competition, click here.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.


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Darden Restaurants has signed a definitive merger agreement to acquire all of the outstanding shares of Ruth’s Hospitality Group for $715m.
As per the terms of the deal, a wholly owned subsidiary of Darden will acquire the stake for $21.50 per share in cash.
Ruth’s was established in 1965 and owns the Ruth’s Chris Steak House brand, which has 154 locations around the globe.
Out of 154 units, 80 are company-owned or operated restaurants and 74 are franchised restaurants.
Ruth’s chairperson, president and CEO Cheryl Henry said: “We are excited about the opportunity to join the Darden family. Our strategy and operating philosophy align well with Darden, and we have a strong cultural fit that should ensure a smooth transition.
“This transaction will also provide more opportunities for our team members to develop in their careers as we continue to grow our 57-year-old iconic brand.”
The acquisition is expected to complement Darden’s brand portfolio, which includes Olive Garden, LongHorn Steakhouse, Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.
Darden president and CEO Rick Cardenas said: “Ruth’s Chris is a strong and distinctive brand in the fine dining segment with an impressive history of delivering elevated dining experiences to their loyal guests.
“It fits the criteria we have for adding a brand to our portfolio and supports our winning strategy. Ruth’s Chris is a great complement to our portfolio of brands, and I’m pleased to welcome their nearly 5,000 team members to Darden.”
The deal is expected to be completed in June this year, subject to the satisfaction of customary closing conditions.
Post-acquisition, Cheryl Henry will continue as Ruth’s Chris president and will report to Rick Cardenas.


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ITRI announced a continued partnership with Ganvix, Inc., an industry leader specializing in the development of Gallium Nitride (GaN) Vertical Cavity Surface Emitting Lasers (VCSELs) on laser technology advancements. The two parties completed the development of the first blue GaN lasers and singed a phase II agreement to extend their joint venture.
GaN VCSELS operating in the blue wavelength range has been demonstrated successfully based on the close collaboration between Ganvix’s design and ITRI manufacturability. The next phase of development under the agreement will include the following:
• Expanding the wavelength range from blue to green
• Qualification testing (of environmental and lifetime testing)
• Packaging of discreet lasers and laser arrays
The target markets include consumer electronics, industrial, medical and life sciences, communications and metaverse applications such as AR. Near-term applications include red, green, and blue VCSEL light engines for laser scanning displays, lasers, and laser arrays for free space and polymer fiber-based communications.
Ganvix utilizes nano-porous technology to deliver compact, lightweight blue/green/UV VCSEL lasers that produce superior wavelength control, smaller spot size, and array architectures, allowing substantial innovation across a wide range of applications.
ITRI will continue to apply its substantial capability and infrastructure for the manufacture of electro-optic devices to accelerate Ganvix’s time to market. The resulting products will address the nascent opportunity for high-performance and low-cost GaN VCSELs in the billion-dollar global markets.
VCSELs based on Gallium Arsenide (GaAs) that operate in the infrared spectrum are one of the fastest-growing technologies in electro-optics today. However, GaAs cannot emit light in the ultraviolet or visible (blue and green) wavelengths. For these applications, GaN is required, but there has been no commercially viable solution to form the laser cavity mirrors required until now. Ganvix has solved this problem using nano-porous technology to engineer the optical properties of GaN.
“For future metaverse application, the three-primary-color VCSELs will play a key role,” commented Dr. Shih-Chieh Chang, General Director of ITRI’s Electronic and Optoelectronic System Research Laboratories. “We are very happy to continue to deepen the cooperation with Ganvix and launch commercialized products, which can also drive Taiwan’s industries to enter the metaverse market,” he said.
“We are excited to announce the successful demonstration of blue VCSEL lasers using our proprietary nano porous GaN fabricated in collaboration with ITRI,” said John Fijol, Chief Executive Officer of Ganvix. “This marks a critical achievement enabling commercialization of these new laser devices. We look forward to the next phase of our relationship working with ITRI to bring these devices to market.”
Office of Marketing Communications


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He wants Tesla to have exciting products, but he also wants the company to see the factory as a product. The machine that builds the machine, he calls it.
The CEO said his goal was to make the factory look more “foreign” than a factory. A machine that produces new electric vehicles with high automation and at a speed unprecedented in the automotive industry.
He first introduced this idea with the production of Model 3 vehicles at the Fremont plant.
Musk pointed out that the first version of the Model 3 production line will only be a “version 0.5” of the “alien dreadnought”, but that the line will be updated with more automation and he is considering a “version 3”. in a few years:
“With version 3, it won’t look like anything else. You can’t have staff in the production line itself, otherwise you’re going down to speed. So there will be no one in the production process itself. People will maintain the machines, upgrade them and deal with anomalies. “
Gigafactory Shanghai has the latest Model 3 production line rolled out by Tesla and the automaker has made progress towards its “alien dreadnought” with it.
This weekend, Tesla China released a new video showing production at Gigafactory Shanghai through its official Weibo account:
While this isn’t exactly the fully automated line that Musk describes, it comes much closer to it.
There are sections of the production where you can see 8 robots simultaneously working on a single car.
As far as production goes, the timelapse effect obviously makes it more impressive than it actually is, but the actual production capacity of the factory has grown at a staggering rate.
At the end of the last quarter, Tesla had an annual production capacity of 200,000 vehicles at Gigafactory Shanghai – an impressive ramp-up in about 7 months after starting production.
That’s 4,000 vehicles per week and the pace may have increased throughout the third quarter.
What’s interesting for Tesla right now is the pace at which they are rolling out new production lines.
New lines are always coming to Fremont, but they are also rolling out new lines in Shanghai and soon in Berlin and Austin.
Every time they’ve deployed a new line, they learn from it and make improvements to Elon’s vision of an “alien dreadnought” producing high-speed cars.
I think the Model Y lineup in Shanghai will show another step in that direction and then it will be interesting to see what Gigafactory Berlin and Gigafactory Texas look like next year.
What do you think? Let us know in the comment section below.
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SHOPKEEPER Dave Tree was bemused when he arrived to open up last Wednesday and found the entrance to his toy store sealed off by a health and safety-conscious glazier.
Mr Tree, who runs the All The Cool Stuff classic toy emporium in Fordingbridge High Street, wondered how customers would get in and out with the
artfully-placed ladder, bollards and tape used by the person fitting windows in the upstairs flats.
Fortunately after a couple of days the glazier moved on to the next window along.
Mr Tree said: “It was just surreal.”


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A business incubator plans to open in Tempe next year with an unorthodox model: It’s privately funded and will provide seed money to budding technology entrepreneurs.
Called LaunchSpot, the incubator plans to host several start-ups for three months at a time, giving them time to develop a prototype to the point that investors will be ready to fund it as a new business.
Founder Fred von Graf built his model after seeing the Valley’s tech-savvy entrepreneurs often heading to California or other states to get venture capital — which translates to companies and lucrative jobs staying away from Arizona. Investors or government-funded incubators also don’t provide as much mentoring, legal advice or professional services support as von Graf thinks they need. He plans to make that a large part of the incubator.
Von Graf, whose tech career has included working for Intel, said he hopes to make the Valley a more supportive place for start-ups.
“I personally had a lot of ideas when I was younger,” he said. “I just didn’t have the resources or the connections.”
Von Graf plans to open LaunchSpot in March, co-locating with a web marketing company called Crexendo. That company’s headquarters has lots of extra space, where Crexendo executive Dean Wright is planning to build a coworking space for tech entrepreneurs to collaborate.
Wright and von Graf decided the incubator and coworking space would be a good fit for half of a 20,000-square-foot building, as the start-up participants could mingle with more experienced professionals. The space could eventually house up to 200 people, Wright said.
LaunchSpot will invest up to about $20,000 per start-up after evaluating the idea, and in exchange will take a stake of perhaps 2 to 10 percent in the company. LaunchSpot is most interested in online and mobile applications and services.
Von Graf said he’s in talks with Fortune 200-level leaders he envisions being involved. Mentoring with technology experts and other business professionals is a major part of his model, he said.
“I’m not sure if there are other incubators that are doing that,” he said. “I don’t think there’s quite the level of community engagement and support that we’ll provide.”
Tempe has given some thought to sponsoring an incubator but has had concerns about funding such a venture, said Councilwoman Onnie Shekerjian, who also chairs the Technology, Economic & Community Development Committee. Chandler spent $5.7 million on its Innovations incubator, while Tempe’s only involvement will be providing some marketing and promotional support. Shekerjian said the city will closely follow LaunchSpot to see whether it can jump-start technology businesses without requiring taxpayer funding.
“I do believe that when private enterprise goes into something, I think they can do it much faster and better, many times, than a government entity,” Shekerjian said.
The Crexendo-LaunchSpot venture will be near Broadway Road and 52nd Street. Von Graf said he’s waiting to seek start-up candidates until the building is getting close to housing the operation. Those interesting in contacting von Graf can reach him at email@example.com.


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Hot on the heels of HP's decision to hire a newly-appointed CEO comes an announcement from IBM that it too is welcoming a new CEO. The company this week announced that senior vice president and group executive for sales, marketing and strategy, Virgina Rometty, is to be the company's new chief executive officer and president. Rometty will step into the shoes of current IBM chairman, president and chief executive officer, Samuel Palmisano.
Palmisano has been CEO since 2002 and during his time at the helm, IBM's EPS has increased by almost five times, the company has generated over $100 billion in free cash flow, and invested more than $50 billion in research and development. Speaking in a statement released late yesterday afternoon, Palmisano hailed Rometty as a 'superb operational executive.'
"Ginni Rometty has successfully led several of IBM’s most important businesses over the past decade – from the formation of IBM Global Business Services to the build-out of our Growth Markets Unit," he said. "But she is more than a superb operational executive. With every leadership role, she has strengthened our ability to integrate IBM’s capabilities for our clients. She has spurred us to keep pace with the needs and aspirations of our clients by deepening our expertise and industry knowledge.
"Ginni’s long-term strategic thinking and client focus are seen in our growth initiatives, from cloud computing and analytics to the commercialization of Watson. She brings to the role of CEO a unique combination of vision, client focus, unrelenting drive, and passion for IBMers and the company’s future. I know the board agrees with me that Ginni is the ideal CEO to lead IBM into its second century."
The handing over of the reigns will be a slow process, with Rometty expected to take over on January 1, 2012. However, when that does happen, Palmisano will remain chairman of the board at IBM.


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How to participate in the autumn edition of the Laurel Highlands Pour Tour
Craft beverage fans seeking fall-themed creations such as pumpkin beer, hard cider and spiced spirits have an added incentive to explore Pennsylvania’s Laurel Highlands this fall.
GO Laurel Highlands has announced Boos and Brews, a seasonal micro tour of the popular Laurel Highlands Pour Tour, an inclusive effort developed to promote the region’s craft beverage industry.
“The resilience and creativity of the Laurel Highlands craft beverage industry continue to amaze me,” said Ann Nemanic, executive director of GO Laurel Highlands. “New establishments are opening, seasonal products are being launched, and the overall excitement of those participating in our Pour Tour passport program is beyond our expectations.
"Fall has always been a premier season for our region, so what better way to have visitors return to their favorite beverage haunts than with a cool new promotion? I’ve been told by many, it’s all about the stickers and the T-shirts, so I am certain this will be yet another successful campaign for GO Laurel Highlands.”
To participate, simply download the free Laurel Highlands Pour Tour app from the Google Play and Apple stores, then select the Boos and Brews passport at check-in. Take photo of a purchase and upload it while visiting one of more than 40 participating sites.
After 18 confirmed check-ins, an exclusive Boos and Brews T-shirt and stickers are to be mailed to the participant. The tour is to be available Oct. 1 through Nov. 30.
Special seasonal creations on tap in the Laurel Highlands include:
- Helltown Brewing’s Big Bad Buffy IPA (in honor of their 10th anniversary).
- Bella Terra’s Harvest Cider.
- Four Seasons Brewing’s Headless Wylie.
- Quinn Brewing’s Diesel Dwarf German Altbier.
- Greenhouse Winery’s Harvest Moon.
- White Horse Brewing’s With You Always (a portion of the proceeds benefit ovarian cancer research).


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Finding the Helpers: White Dog Coffee owners giving all profits made Friday to employees
SPOKANE, Wash. — The owners of Spokane’s White Dog Coffee want to thank their employees for the hard and long hours they have spent slinging coffee over the past few weeks.
Drive-thru coffee stands have been able to stay open during the Stay Home, Stay Healthy order and stopping for coffee has been an outlet for many looking to get out of the house.
As a way to say thank you to their employees, the owners, Corey and Tori Schrock, will be giving all profits earned Friday, May 8 right back to their baristas.
“We (Corey and Tori) have been wanting to say thank you to our girls in a big way. After brainstorming ideas, we have come to the decision to take ALL PROFITS from our three shops, put it in one pot and DIVIDE it between EACH BARISTA,” they said in a Facebook post.
The Schrocks said they have been brainstorming ways to say thank you to their employees and wanted to do so in a big way.
“We want this to be our busiest day, we will be extra staffed to still serve you in a timely manner, so blow this up as much as you can for us, our girls deserve it,” they said.
White Dog Coffee has three locations; in North Spokane, the South Hill and Spokane Valley.
COPYRIGHT 2021 BY KXLY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.


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The Amazon Effect crosses continents and reaches Australia’s banks. As the following article describes, Amazon’s ubiquitous e-commerce presence and widespread portfolio has increased customer expectations of their product and service providers.
Such is the impact of Amazon that it is even affecting what people expect from their bank. That’s the view of the chief executive of fintech firm Avoka, Phil Copeland, who said the user experience provided by the shopping giant has fed into an expectation among consumers that you should be able to sign up for products easily and simply online.
With banks also nervously eyeing fintech competitors, the dynamic is forcing banks to sharpen their focus on “digital customer acquisition”, or online sales.
“Amazon has really changed the landscape a lot, for a lot of people. There’s an expectation that if it’s not as easy as doing business with Amazon, then what are you doing wrong?” Mr. Copeland said.
In response to these pressures, banks are overhauling their systems to offer all manner of products, for both retail and business customers, on mobile and digital devices. Mr. Copeland’s Avoka is seeing the demand first hand, as a software firm that specializes in helping big banks with “customer on-boarding”.
A recent report from Avoka, which has clients including Westpac, Bankwest, Macquarie Group, CUA, Citi and HSBC, said Australian lenders were more advanced in digital sales than European and United States banks. The report found 49 per cent of personal banking products could be opened on a mobile device in Australia, but a much lower share of small business products were available on a smart phone.
Amid the wave of fintech firms eyeing banks’ profits, the domestic banks have invested heavily in selling their products through mobile banking, with National Australia Bank’s UBank last year citing strong growth in the number of people taking out a home loan through a phone.
ANZ Bank also said its agreement to provide Apple Pay has helped its product sales, including in homes loans. Australian bankers have also acknowledged the impact online giants are having in all manner of industries.
The good news for Australia banks is that they are quick to react in emulating Amazon’s typically smooth and seamless buying process. The banking industry realizes that customers expect more than just account access from digital platforms, especially mobile. Key drivers for mobile use include providing an integrated set of services that cement customer relationships, including payment enablement, loyalty, customized marketing, and partner programs. In contrast, Android, Apple, and Samsung Pay have learned that mobile use has to be about more than just one function, which is why their user adoption has lagged expectations. For the most part, Amazon gets it, and those vertical markets that choose to pattern their own processes after them should be ahead of the curve.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
Read the full story here


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June 14, 2014 BY Patrick Johnson
Puma has recently revamped its Puma Trinomic XT1 Plus with a number of retro colorways, but nearly nobody saw the collaboration with German rapper MC fitti coming. While we’ve seen a number of vibrant colorways hit the retro running silhouette, this time around the contrasting white and black base keeps things simply subtle so that the scuba blue and pink accents can light up the sneaker in sparse details. The sneaker will even come with a limited edition sticker sheet featuring the rappers’ likeness. Continue reading onward for more images of this latest Puma silhouette and grab more info over on our release dates page.
Tags: Puma Trinomic XT1 Plus


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German legal AI pioneer, RFRNZ, which had a focus on contract analysis, has closed down and is now going through an insolvency process. The company’s CEO told Artificial Lawyer that a lack of VC funding along with the combined impact of the pandemic were the key causes.
The move is another blow to Germany’s legal tech scene, which in November last year saw fellow AI company, Ayfie, close down its German operation. While Leverton, the first legal AI and prop tech company in the country, closed its original base there after merging with US company MRI in 2019.
Co-founder and CEO of RFRNZ, Sven von Alemann, told this site that a deal with another company had been put together, but this fell through, leaving them no choice but to end activity and enter insolvency.
‘We did not get new VC funding, and then we planned and negotiated to partner/integrate with a strategic company which would have been a great fit. Unfortunately the deal was canceled at the last minute.
‘But it was also difficult for us to find enough customers who wanted to commit beyond PoCs or extensive testing in 2020. I think Covid was the last straw,’ von Alemann explained.
At its peak the company, which was based in Munich, had 14 staff, with nine team members just before they filed for insolvency.
RFRNZ had been part of a new wave of Germany-based legal tech companies. Back in 2017 the company explained to Artificial Lawyer that although the company is ‘language agnostic it does have a unique selling point: RFRNZ will be a ‘native German’ legal AI company. I.e. while others may train their natural language processing software to understand German terms after first launching in English, RFRNZ will have German language capability from day one‘.
Talking to this site von Alemann said that despite the closure he had learnt a lot from launching the startup and had a positive outlook for what would come next.
‘Once this process is done, I will most likely stay in the industry and would like to use my experience and expertise to help companies with their challenges in legal operations and legal processes. I have seen day-to-day what works and what doesn’t and how using the right technology can make legal work and processes more effective,’ he explained.
He added: ‘It was an amazing journey. Despite the unlucky end we are proud to have created a great product with an awesome team. We did make an impact in the market and built many valuable relationships. It is still a tough market, especially in Germany.
‘In my view, and somewhat surprisingly to still have to say that in 2021, it might take some more time until the market is ready to fully embrace such AI solutions here [in Germany].
‘But I remain 100% positive that this will happen and there are many aspects of legal operations and legal work that can be automated, made more effective, or deserve better processes. And I’m looking forward to contributing to this!’
Artificial Lawyer wishes von Alemann and the team the best of luck in whatever they do next.


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Generation Pale Ale is described as a “sprightly pale ale” and is made from British hops Olicana and Harlequin. It has an ABV of 3.8%.
The can design – which was approved by Age UK Lambeth members – features the tagline ‘ring your gran, make a plan and let’s party like it’s 2019!’ and colourful images of boom boxes.
All proceeds from the limited edition beer will go towards schemes such as MYsocial and the MYneighbour service.
The beer’s ingredients were donated to the brewery by Charles Faram Hop Merchants and Simpsons Malt.
Xochitl Benjamin, founder of Brixton Brewery, said: “We wanted to create a beer for everyone, that could bring together people of all ages after a long lockdown, and pay tribute to the generation that has helped make Brixton one of the most diverse, inclusive and friendly communities in the country.”
Demand for Age UK Lambeth’s services grew by 233% over the past year, the charity said.


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In its first move towards opening up to international audiences, Hulu has added British television shows and Bollywood movies. Hulu today announced in a blog post that the site has partnered with U.K. content distributor Digital Rights Group and the...
If you're not satisfied with the TV available through your cable or satellite provider -- or if you're looking for alternative channels around the world -- give the free RevoluTV a try. This free program lets you tune into TV channels around the worl...
Bang & Olufsen has released information on its latest super-stylish LCD television, the BeoVision 8-40. The 40in TV has a 100Hz screen refresh rate with motion compensation and dynamic contrast.
Panasonic has released information on its new Premiere Home Theatre Plasma series. The 65in and 50in Panasonic TH-65VX100W and TH-50VX100W are Full HD plasma TVs with a native 1080p resolution.
Sony Australia has outlined its predictions for the future of digital television in Australia, projecting increased household penetration of large Full HD televisions, Internet Protocol Television (IPTV) and environmentally friendly TVs.
Sony today launched four new series of Bravia LCD televisions, which will be available in May and July. The new models mean that the company's entire LCD television line-up will soon be Full HD 1080p.
Several of Japan's largest electronics companies have halted business trips to Mexico after a deadly outbreak of swine flu in the country.
A South Korean executive with LG Display has agreed to plead guilty and serve a year in prison for participating in a global conspiracy to fix the prices of TFT-LCD (thin-film transistor liquid crystal display) panels, the U.S. Department of Justice ...
Freeview, the television industry body publicising the move to free-to-air digital television, has released information on products it has certified the compatibility of at a launch at Dick Smith in the Sydney CBD on Monday.
Flash, the technology used by YouTube to stream video clips into your browser window, is now installed on 98 percent of all computers, according to Adobe Systems, which acquired the technology in 2005. The company also says that about 80 percent of W...
Sharp, one of the world's largest manufacturers of LCD panels for televisions and computers, reported a big drop in sales and a net loss for the year just ended with sales forecast to drop even more in the current year.
Panasonic's Viera Cast-enabled HDTVs just got more interesting.
Within the next few years, companies from Taiwan may begin selling LCD TVs with 3D (three-dimensional) viewing technology that does not require the special glasses normally used in movie theaters to show 3D films.
Pay TV provider Foxtel has updated its Web site, with the new Foxtel.com.au featuring a full-screen video player on its front page that displays Foxtel ads and clips from Foxtel-exclusive programs.
The High Court of Australia has released its decision on the court case between IceTV and the Nine Network. The panel of judges found that IceTV is not guilty of copyright infringement in its creation of a third-party reproduction of the Nine Network...
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Honda PH renews PBA partnership for 2020 season
The local arm of Japanese motorcycle brand Honda has announced that they will continue their main sponsorship deal with Philippine Basketball Association (PBA) for the 2020 season.
A sponsor since 2018, Honda Philippines, Inc. (HPI) will continue to support the league following the resumption of Philippine Cup over the weekend (Sunday, October 11). The league is set to follow the bubble concept just like that of the National Basketball Association (NBA).
Through the partnership, HPI continues to provide the joy of mobility for its customers. It is also part of its ONE DREAM campaign, which aims to provide Honda Motorcycles as tools in achieving Filipino's dream and unite all motorcycle riders through various fun-filled activities.
HPI President Susumu Mitsuishi said that they are ready to provide support in supporting the tournament “as a company known for its innovative spirit.”
"As a basketball-loving nation, Filipinos consider this sport as a way of inspiring and nurturing sportsmanship and companionship. We see the value of partnering with PBA—especially that we aim to become part of improving the quality of life of every Filipino,” Mitsuishi explained.
“By doing so, we also support Filipino talents and their love for sports," the HPI chief added.
Previously, HPI also supported and sponsored the local telecast of the National Basketball Association (NBA), the world's most prestigious basketball league, since it resumed its 74th season last August 21.
Back in July, HPI has announced the cancellation of this year’s Honda Pilipinas Dream Cup (HPDC) to ensure safety of the riders as the Covid-19 pandemic continues to hurt the country.
Photo/s from Honda Philippines Inc., Philippine Basketball Association Facebook Page


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March 20, 2016
We’ve continued to see lean hog futures and margins inch up the past 30 days, and we’re seeing near contract highs in many futures contracts this past week. The question remains can we continue the futures rally with limited improvement in cash and cutout?
The spread between current cash prices, around $65 per hundredweight, and the nearby April futures, around $72 per hundredweight, is historically wide for this time of year. Total hog numbers coming to market have started to come down and, with exports looking up, nothing has turned the market south yet. Let’s hope this continues and pushes returns into the black in the fourth and first quarters.
Reality is that low-cost producers are already near breakeven, and in those time frames, if we don’t start to see cash and cutout push up soon, there could be deterioration in margins. Nothing new here as most of the industry is expecting more total production as we move forward.
With multiple new plants could lower utilization become the new norm?
As we look ahead, it’s important to take into consideration the multiple hog packing plants coming on line over the next few years. This will change the packer landscape. It will be an interesting journey to see just how much expansion might happen to fill this new shackle space or if packers will learn to live at lower utilization levels in their plants.
That’s definitely not something that the majority of hog packers have had to live with for a while. In looking at some recent data from the USDA’s Economic Research Service, the farmer’s share of the pork retail value has steadily dropped over the last 18 months. It has fallen from a high point greater than 35% early in 2014, to nearly 20% at the end of 2015.
One would have expected that number to be higher given the shortages in early 2014. However, if you look back over 2010 through 2013 the farmer’s percentage of retail value remained in a relatively tight range around 30%. Clearly the big drop has been impacted by larger hog supplies and tightening packing capacity. That data seems to paint a clear picture as to why multiple plants are being built and why pork producers want to be involved in packer ownership.
After all, 10% of the retail value is a big number, and with some strong producer balance sheets they have the capital to look at making investments further down the food chain.
There’s no doubt all producers are welcoming more pork packing plants and more players as it should help bring basis between cash and cutout together and hopefully keep the farmers share of retail value in line. The new plants should be good for basis in the short term, but we still have to keep in mind that there is significantly more meat to sell if expansion happens. With currency exchange rates moderating the last few months and the appearance and improvement of China in the export markets we just may be able to do it.
The reality though is if we expand at a greater pace than domestic production, we will continue to rely more heavily on the export market, which means volatility in margins will potentially increase.
If you operate with a significant amount of leverage on your balance sheet it will become more important to protect your equity and manage through market swings. As we increase the percentage of pork exports, keep in mind the world will continue to get smaller and the impacts of currency and political environments will get larger.
At the end of the day, the low-cost producers should and will carry the day, and the beauty of the situation is North America still carries some of the lowest costs in the world. It is clearly evidenced by the Chinese live hog price equaling nearly twice that of the U.S. price in recent months. The changing landscape can be both exciting and scary but U.S. hog producers’ resiliency, improvement and openness to change continues to push hog production to new levels.
Justin Roelofs is a senior financial services executive with AgStar Financial Services. For more insights from Roelofs and the AgStar Swine Team, including their weekly video Hog Blog, visit AgStar.com. If you’d like more information on AgStar’s Margin Manager Tool check it out at AgStar.com/MarginManager.
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