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Equality? Feminist NYC Pharmacy Charges Men More With 'Man Tax'...
Feminists have a lot on their plates. Seems like they prefer it that way, too. It's how they maintain their
politically hefty figures (see Dear Fat Feminists... No Thanks [feat. Tess Holliday] and 'Plus Size' YouTuber Now Demands Disney Create Fat Princesses...). One of the major feminist "issues?" The wage gap. See, according to feminists, the patriarchy keeps women down by paying them less than men. Because reasons.
So a NYC pharmacy recently decided to fight against that sexism... By being waaay sexist.
One Manhattan pharmacy is trying to solve [the wage] gap with a 7 percent man tax. Owner Jolie Alony [said] "We thought it'd be a great idea with all the political things going on - with Clinton being such a woman and the other guy and his womanizing," she said.
Citing the "pink tax," she said, "We wanted to share that women deserve to get a break, and men deserve to be charged 7 percent more. Women are spending more in general and we make less, so we deserve to have a break."
Alony says it's up in the air how long the promotion will last, especially since "the disclosure of differing prices or fees based upon gender by a retail service establishment" is a violation of New York City pricing laws.
Women in New York already get a break (see 'My Body, Your Tax Dollar?' NY de Blasio Signs Law Mandating 'Free' Tampons...). Also, generalizing an entire group of people and treating them poorly because of their gender? Sounds a lot like what feminists claim to hate. Color me confused. For instance, if a store shamelessly charged women more and men less for a political cause, methinks feminists would have a bit of a problem with it.
By the way, notice that little footnote? It's the one that says it's illegal to charge more for goods based on gender. Or what's also referred to as "discrimination." Feminists discriminate whilst also disavowing discrimination. They want to have their cake, and eat a dozen too. Remind me again how feminism is more than just man-hating and cake-eating? Because there seems to be a lot of man-hating, and even more cake-eating. Hence Tess Holliday, Lena Dunham, and Amy Schumer. Just an observation.
All this in the name of solving the wage gap. Good news, feminists: your plight is over... Because the wage gap doesn't exist. Unless, of course, you're the ones creating it. For "equality."


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On 15 October, tourist visas were granted to travellers arriving on chartered flights and the facility will be extended to those arriving on commercial flights from 15 November.
Foreign tourists who landed in India last Friday were the first to come into the country in 19 months.
Rajeev Kohli, joint managing director, Creative Travel India, welcomed the relaxation of travel restrictions which comes as India’s Covid-19 infections drop, with more than 70% of the population receiving one dose of the vaccine.
“Like everywhere in the world, the pandemic hit the Indian tourism industry very hard. The loss of jobs has been extensive, and most will never come back,” said Kohli.
“We really feel for our people and wish we, as business owners, could do more. We are, therefore, super excited to have a date for reopening of our borders to tourists.
“After 19 months of not being allowed to operate, we now have the opportunity to take our fate in our hands.
“There are still some protocols we need to be told but seeing the light at the end of the tunnel is a great feeling. It’s a huge morale booster, something that was badly needed for tourism stakeholders.”
India attracted just 2.74 million foreign tourists last year — down from 10.93 million in 2019.

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Dutch attempt to reduce salt in processed meats
A number of Dutch meat processors, retailers and food innovation company Top have started a collaboration to achieve salt reduction in meat products without loss of flavour, texture or shelf life. The companies are exploring the possibility of using pascalisation technology and vegetable fibres to offer an alternative to salt. The first results are promising.
Research has shown that in the case of texture, vegetable fibre can be used. In sausage, for example, a part of the salt is replaced with carrot fibre, with similar results in terms of texture. By treating the meat with pascalisation, the microorganisms responsible for spoilage do not stand a chance, resulting in an increase in shelf life. Additionally, earlier research by Top has shown that the salt perception changes by high pressure with pascalisation. This will be further investigated during this project.
The goal of the companies is to reduce salt in meat products by an average of 35%. The first product will be launched on the market in 2015.


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In turn, PayPal merchants will now be able to accept payment using GoPay. As a result, Indonesia-based shoppers will soon be able to use GoPay to buy goods from PayPal retailers worldwide.
PayPal and Gojek declined to comment on how their partnerships might be extended to other countries in Southeast Asia.
With PayPal, there’s potential to work on remittances, the aforementioned Gojek executive said. Gojek owns Philippines-based fintech service Coins.ph—a popular service for transferring money overseas—even though it has not launched ride-hailing in the country. (We have written about Coins.ph before.) PayPal’s new relationship with Gojek could allow the firm to finally make better use of Coins.ph by linking it with PayPal for remittance payments, the executive said.
There may also be opportunities for partnerships in Vietnam since Gojek is preparing to introduce payments in the country, the executive said. Vietnam was Gojek’s first overseas expansion. It has offered ride-hailing and food delivery under its ‘Go-Viet’ brand since April 2018.
Inroads into Indonesia
Even as operations across the region open up, though, it’s Indonesia that really counts for now.
“When you have investment by names like Facebook, PayPal, Google, Tencent, for me, this is a clear sign of confidence for Indonesia’s internet economy,” says Yansen Kamto, founding partner at Jakarta-based investment firm Kinesys Group. Kamto is also an advisor at Digitaraya, a startup hub that works with Google and Gojek through a number of accelerator programs.
Southeast Asia’s digital economy is tipped to pass US$300 billion by 2025, up from US$100 billion in 2019, according to a report from Google, Temasek and Bain Consulting. Indonesia is forecast to be the top contributor in 2025 with US$133 billion. The predictions may be impacted by the Covid-19 pandemic, but Indonesia’s dominance will remain constant.
The investment in Gojek is also indicative of the strategic relevance of an Indonesia-first approach when it comes to cracking Southeast Asia. After all, Gojek hasn’t managed to shake Grab’s stronghold in any other country in the region—be it Vietnam, Thailand or the Philippines—as we wrote.
To be fair, Grab, too, has pushed hard in Indonesia—it unveiled a “‘Grab 4 Indonesia’ 2020 master plan” in 2017, backed by an initial US$700 million in capital. Grab has said its ride-hailing service is breakeven in some countries, but its Indonesia operations were given licence to burn cash to chase a 70% market share target, a former Grab employee with knowledge of its regional strategy told us. They requested anonymity as the terms of their departure forbid them from discussing Grab’s business.
But the Singapore-based company had to reverse that decision in the fourth quarter of 2019 to train its focus on profitability instead, the ex-employee added. This meant an end to subsidies for Grab’s drivers and passengers in Indonesia… opening the door for Gojek to win back any market share it lost due to Grab’s aggressive spending.
Playing the field
Gojek is the bet PayPal and Facebook are making for now, but this doesn’t rule out these companies wouldn’t also invest in Grab at some point, according to Zennon Kapron, a Singapore-based fintech market analyst. (Visa backed both players, he notes.) Reuters reported in April that Facebook was in talks with OVO, state-backed LinkAja and Gojek over potential payment deals.


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Are you the not so proud owner of a damaged car in Middlefield, University Heights, or Richmond Heights, seeking a spot that will buy used cars for scrap? As the area’s premier junk car buyer, we will get the job done quickly in Pepper Pike, Euclid, or Garfield Heights. Our salvage car buyer will provide you a quote for an old car over the phone in Eastlake, Twinsburg, and Lakewood–and that is a simple price. To all those residing in Linndale Village or Newburgh Heights, should call our scrap car hauler is now available!
In a recent article in Scrap titled ‘Gaining Gorund’, Joe Pickard and Bernie Lee explained the following: “In 2015, the scrap and recycling market was really struggling and the industry had significantly consolidated. In 2016, there was somewhat of a reversal of fortune as supply and demand began to stabilize. The oil market was certainly in a state of flux as far as commodities go. The prices per barrel which once were $100 were seen in West Texas at lows of about $25. This pattern continued across other segments including ferrous. The price for No.1 heavy metal was near $160 a gross ton, roughly 50% lower than the year prior.
The resurgence took place in late-2016 as No.1 heavy metal rebounded to $250. This rise was also seen in metal, oil, and various others. The Dow was up by 25% despite modest economic conditions and political volatility. The U.S. election surprisingly gave the markets a boost through campaign promises to rebuild the infrastructure, lower corporate taxes, eliminate many regulations, and to renegotiate better (fairer) deals on trade overseas. It seems that the new administration has truly benefitted the scrap and recycling industry so far.” To read the article in its entirety visit: http://www.scrap.org/
Those of us that still buy used cars for scrap in Collinwood, Sagamore Hills, and Middleburg Heights can attest to the ease and convenience. Our junk car buyer will provide you a junk car quote right over the phone in Glenwillow, Parma, or Beachwood. To determine the price, simply get in touch with us for a quote for an old car in Bedford Heights, Bratenahl, or Mantua. Are you in immediate need of a scrap car hauler in the cities of Moreland Hills, Chagrin Falls, or Mayfield Heights? Motor vehicles are a leading recycled product in Ohio, the US, and beyond.


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If your home is like most U.S. households, you probably received a flood of advertising mail, catalogues, and flyers over the holidays. Whether it’s solo mail, shared mail, pre-printed newspaper inserts, or the vast array of retail catalogues, print continues to be an effective marketing channel for retailers.
Given the rapid rise of digital advertising, why is it that printed advertisements continue to fill our newspapers and mailboxes — not only during the holiday season but all through the year?
Because retailers know printed advertising drives sales.
According to a 2017 Nielsen Homescan study, about 80% of U.S. households still use circulars and other traditional, printed sources for product information. Print is the primary medium used by consumers for information about stores, sales, and specials. And, when you trend the data over the past three years, the use of printed circulars has declined only slightly — down 3 to 4 percentage points since 2014.
Mailed advertisements and catalogues have also shown remarkable resilience over the past three years. According to Nielsen Scarborough’s USA+ database, about 15% of U.S. adults have made three or more purchases from a mail order catalogue in the past 12 months. That percentage is virtually unchanged since 2014.
And, about 14% of U.S. adults have made three or more purchases from mailed advertisements (excluding catalogues) in the past 12 months. That percentage has also remained flat since 2014.
Meanwhile, retailers’ digital marketing touchpoints (e.g., Web sites, mobile apps, social media, e-mails, text messages, and blogs) continue to grow substantially.
According to the Nielsen Homescan study, store Web sites and e-mails are the most used digital channels, reaching 77% and 75% of U.S. households, respectively. In addition, about half of U.S. households use store apps, social media, and money-saving apps — and these channels have grown at double-digit rates between 2014 and 2017. Not surprisingly, Millennials have the highest usage rates across all digital touchpoints.
So, even as digital channels for retail marketing continue to grow, print advertising is still very effective and doesn’t show signs of going away any time soon. In the Nielsen Homescan study, almost half of U.S. households said they use at least eight different sources — across print and digital — for information about products and sales.
What does this all mean for retail marketers and news media companies?
First, it means printed advertising is alive and well, and it is the leading source of product information for consumers. Retailers who shift a disproportionate amount of their ad spend from print to digital do so at their peril.
Secondly, it means that, to be successful, retailers must utilise multiple touchpoints across print and digital channels to reach their best shoppers and attract new customers. They should continue to utilise traditional print advertising since print will continue to be shoppers’ main source of product and sales information, at least for now.
And, as more consumers engage with digital channels for information, retailers should maximise and enhance those channels as well.
The good news for most U.S. newspaper companies is they provide both the traditional and digital channels that retailers need to reach their customers — through the printed newspaper, pre-printed inserts, targeted or total market coverage programmes, custom publishing, and an array of digital marketing services.
Newspaper companies can make the connection between marketer and market, across multiple touchpoints. That’s a level of service that few local media competitors can match.


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How does the abolishment of EU roaming charges affect business?
It’s great news that the EU have agree the parameters around roaming charges being abolished across Europe from June 2017. But CFOs and finance departments still need to be aware of a few things.
- Roaming is not the only source of overages. Staff can still rack up heavy costs by using too much mobile data domestically.
- Roaming charges will still apply outside of the EU. (TBC about the UK!)
- Make sure staff are productively using their mobile data on the right activities. (Office 365 rather than Youtube!)
Thankfully, Asavie Moda gives business customers control today over their existing SIM card data consumption irrespective of the device those SIMs are in.
Domestic mobile data use is a huge cause of bill shock
Recent research commissioned by Asavie, revealed that 1 in 5 senior decision makers in the UK, and 1 in 4 in the US, cite domestic mobile data as the top cause of bill shock.
The higher than expected cost of mobile data was attributed primarily to the volume of non-work related usage, which highlights the need to restrict or monitor data usage. (Are your staff gaming a bit too much, or binging on netflix?)
Mobile costs, as well as employee productivity, can be impacted when employees are checking out what their friends did on Facebook on a Monday; shopping on Amazon on Wednesday; or looking for plans for the weekend on Ticketmaster on Friday.
High mobile costs are not just about roaming
For any business, the downward trend of mobile data prices is of course welcome, but it is important to understand that on the flip side these price reductions have failed to keep pace with the increasing rate of data consumption.
The price may go down, but with the move to video usage, smart phone and 4G networks users are now consuming ever greater amounts of mobile data. GSMA estimate that data traffic is expected to see an almost ten-fold increase by 2019.
See how Asavie’s data control solution can block nearly 1 billion websites in 26 categories.
Learn more about better mobility management by downloading this eBook.


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Cash is expected to make a comeback over the anniversary weekend as Brits are set to withdraw nearly £2billion to celebrate.
Donors will withdraw 25 percent more cash than the same week last year ahead of the street fair and celebrations, according to ATM Network Link.
The figures contradict a trend of declining cash use in the UK, accelerated by the Covid pandemic over the past two years.
Link’s Graham Mott said: “This year there is a real sense of anticipation and excitement as people unfurl the flags and pennants, bake an anniversary cake, plan their local street party or just hit the pub.
“It looks like HM The Queen is going to pull us out again to spend cash. For occasions like this, there is certainly no substitute for banknotes and coins. Cash is certainly not dead.”
In recent months, experts have warned that the cost of living crisis for vulnerable shoppers has been exacerbated by the declining availability of free ATMs and bank branches.
Around a quarter of UK citizens, or 15 million people, regularly use cash to keep track of their spending, according to consumer group Which?
Another six million people who do not use cash regularly said they use notes and coins more frequently when the cost of living deteriorates.
But more than half a million people are left without access to banking services after half of Britain’s branches and almost a quarter of its free ATMs have closed over the past two years.
https://www.telegraph.co.uk/money/consumer-affairs/britons-withdraw-2bn-cash-ahead-queens-jubilee-weekend/ Britons to withdraw £2bn cash ahead of Queen’s Jubilee weekend


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Funding port authorities could create spending chain reaction
Published: February 09, 2015
On January 29, the American Association of Port Authorities (AAPA) held an event in Tampa Bay, Fla., on shifting international trade routes. One major topic of discussion was the need for more federal funding for the nation’s ports. The infrastructure at ports is reliant on funding to assist with improvements including security, equipment and general components such as roads and entrance facilities.
While the majority of port traffic is goods imported into the United States, exports rely on a long line of infrastructure to move goods to those ports. Approximately 78 percent of all U.S.-made good are shipped via container. If port authorities receive more funding from the federal level, spending will inevitably increase at the local level. Farms, local factories and other consumer industries rely on ports to ship goods overseas, and if the infrastructure at ports around the country were capable of handling more goods and offering quicker shipping, industry may look to increase production.
This chain reaction is a two-way street. Improvements to ports would be felt throughout the architecture, engineering and construction (AEC) industry, as local roads, bridges and other infrastructure will need to be capable of handling large trucks carrying shipping containers. Certain regions have roads designed for trucks, such as the New Jersey Turnpike, which provides access to the third largest port in the U.S. (Port of New York and New Jersey/Port Newark). In the other direction, transportation infrastructure across the country (not just in areas near one of the 149 major U.S. ports) is in dire need of improvements. If state transportation departments can move forward with improvements via federal funds, there will be greater access and safer routes to ports.
Keep an eye out for future analysis on specific port authorities and construction spending as Deltek continues to expand reporting on the state and local AEC market. The graph below highlights construction expenditures within the Port Authority of New York and New Jersey (PANYNJ). While general construction topped $1.1 billion in 2014, spending has remained generally flat within the PANYNJ. Federal funding could provide the much-needed AEC boost to the nation’s ports.
You can learn more about current procurement opportunities in the GovWin IQ State and Local Opportunities database. Not a Deltek subscriber? Click here to learn more about Deltek's GovWin IQ service and gain access to a free trial.


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WATERTOWN, N.Y. (WWTI) — More arguments are developing regarding milk choices available in schools across the U.S. Following Rep. Elise Stefanik’s introduction of the Protecting School Milk Choices Act advocating for flavored milk in schools, the People for the Ethical Treatment of Animals, or PETA, sent a letter to Rep. Stefanik, urging her to include dairy-free or vegan options in her legislation.
This would include options like soy milk, almond milk, or oat milk. After all, as PETA President Ingrid Newkirk points out, cow’s milk is one of the primary causes of food allergies among children and the “dairy industry is cruel to mother cows.” The Protecting School Milk Choices act currently focuses primarily on chocolate milk produced by dairy cows.
“Every carton of chocolate milk is packed with sugar and cruelty to cows, who cry out for their stolen calves for days on dairy farms,” Newkirk said in a press release. “PETA is calling on Rep. Stefanik to reconsider her dairy-peddling bill and instead promote vegan milks, which are better for animals and healthier for children.”
Newkirk claimed that a recent PETA investigation of a facility in the North Country found workers abusing cows, stating that cows were hit in the face with poles and a cane. PETA also noted that dairy-free options like soymilk have the same amount of protein as cows’ milk, while being free of saturated animal fat and cholesterol.
ongresswoman Stefanik commented on PETA’s request in a statement released to NEWS10’s sister station in Watertown. “Vegan juice is not milk, and New York’s students should have access to flavored milk.”
PETA’s full letter to Rep. Stefanik can be read below:
Dear Rep. Stefanik:
I’m writing on behalf of People for the Ethical Treatment of Animals—PETA entities have more than 9 million members and supporters globally, and PETA U.S. is the largest animal rights organization in the world—in response to your proposed legislation that would require all schools to offer chocolate milk. Instead of pushing chocolate milk—which contains no fiber or complex carbohydrates and is full of saturated animal fat and cholesterol—on children, we urge you to promote only vegan milks instead, many of which come in a variety of flavors, including chocolate.
Besides humans and some domesticated cats, no species drinks the milk of another species or drinks dairy milk beyond infancy. Cow’s milk is one of the primary causes of food allergies among children, and millions of Americans—approximately 65% of the population—are lactose intolerant. Dairy has been linked to acne, bloating, constipation, and ear infections, and by comparison, vegan soy-based drinks pack the same amount of protein as cow’s milk but have 6 fewer grams of sugar as well as 2 grams of fiber (as opposed to none in dairy milk). The American Heart Association recommends that kids between the ages of 2 and 18 consume fewer than 25 grams of sugar per day. Just 1 cup of chocolate dairy milk contains a whole day’s worth of sugar. Vegan chocolate milk contains nearly half that amount.
In addition, we have exposed stunningly cruel conditions on dairy farms all around the world—including at one in your district, Adirondack Farms LLC, where an undercover investigation revealed routine abuse and neglect of cows. PETA recorded that workers beat cows with poles and a cane and burned off calves’ sensitive horn tissue, leaving them screaming in pain. Like all mammals, cows produce milk to feed their babies. In the dairy industry, mother cows are forcibly impregnated over and over, and their deeply loved babies are taken away from them within hours of birth so that humans can use their milk, which is actually bad for human bones. Studies have shown that milk from cows doesn’t build strong bones or deliver many of the other health benefits that the dairy industry has used in misleading advertising for decades.
Today, dairy-milk sales continue to decline, while plant-milk sales are expected to reach almost $3.7 billion by 2025—so we hope you’ll consider rescinding your proposed bill and backing vegan businesses instead. We look forward to hearing from you. Thank you for your consideration.
Very truly yours,Ingrid Newkirk, President, PETA


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Two online agents and a number of PropTech companies have been named in startups.co.uk's Startups 100 index.
Coming in at number 64 is hybrid letting agency Home Made, which claims to offer a premium high-end service 'without the sky-high fees'.
The agency - which currently only operates in London and was founded by Asaf Navot and Nick Binnington - charges landlords fees starting at £948 plus VAT, which it says are 60-90% lower than the industry standard management fee.
Focusing on rental properties valued at £500,000+, the agency's service includes a dedicated account manager, photography, floor plans and accompanied viewings.
Earlier this year, Home Made raised £850,000 in a funding round led by private equity firm Tethys Equity.
The other agency on the list is Settled which is ranked 88th.
Settled - which describes itself as an end-to-end solution - is run by brother and sister duo Paul and Gemma Young.
In its three years of operation, it claims to have sold over £500 million worth of property, 'saving' consumers up to £6 million in commission fees.
Settled's up-front fee currently starts at £499, which includes a market appraisal, photography, floor plans, portal listings and 'help' with viewings and offers.
This year, the company launched a deposit conveyancing scheme and announced the appointment of former MTV boss Marc Abraham as its chief product officer.
The 100 firms listed in the Startups 100 employ almost 2,000 staff collectively, while the average turnover of a startup in the top 100 is £1.5 million.
Celebrating its tenth anniversary, the index aims to identify the UK's 'most awe-inspiring and fast-growth potential new businesses launched in the last three years'.
The highest ranked PropTech firm is Airsorted - the Airbnb management platform - which comes in at number 10.
To date, the startup has managed more than 3,800 homes across the world and aims to become a 'globally dominant home-stay management company'.
Next up is Habito, the online mortgage broker, which was ranked 12th.
The free online brokerage asks borrowers questions and then analyses every mortgage on the market, from over 70 lenders, to find the best suitable product.
It claims to have helped 72,000 consumers since its launch in April 2016.
Other PropTech startups on the list include GuestReady (13th) - the short-let property management firm and Pad (50th), an advertising platform for rental properties.
Meanwhile, Ideal Flatmate, the flatsharing website which recently passed the £1 million funding mark, was ranked 85th.
You can see the full Startups 100 index here.


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According to Bloomberg, Apple will reopen two of its stores in Japan to reopen on May 27. The stores are located in Fukuoka and Nagoya Sakae. However, it is not known when the rest of the country’s stores will reopen.
The truth is that Apple has reopened stores all over the world like in Australia, Germany, Austria, South Korea, Switzerland, the United States and even Italy. The outbreak of COVID-19 forced the apple company to close all its stores, when quarantine measures began to be applied.
In the case of Japan, the Prime Minister raised the state of emergency in the country. As a result, several of the restrictions that prevented businesses from opening are no longer in effect, allowing Apple to start reopening its physical stores. In relation to Portugal, retailers have so far remained closed.
Apple reopened stores but with some restrictions
As expected, Apple did not reopen stores so that consumers could “flood”. There are several precautions to keep at the entrance of the store and even the number of customers inside the store has to be reduced, similar to what is done at retailers in Portugal and the rest of the world.
Security measures start by taking the temperature off customers before they enter. Each store will have guidelines where reaching a certain number of people, they cannot enter anymore. In addition, the service will be done individually, where an employee serves only one customer.
Apple also plans to set up collection and delivery points in stores. These are points where the customer can easily collect purchases or leave Device for repair without entering the store, maintaining a safer distance.


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Digital infrastructure includes integrating digital technology into all aspects of business, requiring fundamental changes in technology, culture, operations, and value delivery. To best leverage emerging technologies and their rapid expansion into human activities, a business must reinvent itself by radically transforming all of its processes and models.
This isn't without a fair share of challenges for SMBs -Digital transformation requires a shift of focus to the edge of the enterprise and more agile data centers to support that edge. It also means shedding legacy technology that may be costly for the enterprise to maintain and altering the company culture so it supports the acceleration that comes with digital transformation. Still, even with these challenges, there are some things worth considering for SMBs concerned about not getting their money or energy's worth.
In the latest HPE Tech Talk podcast, Opens a new window
Shari Lava, WW SMB Research Director at IDC, explains how to accelerate new tech adoption by shifting to a digitally-enabled business strategy. He goes on to explain how tech spending was expected to be 6% less for businesses of 1 to 9 employees in 2020- But by the end of the year SMBs of all sizes ended up spending just as much if not more than last year for technology.
The market has come to expect efficient digital experiences from its businesses, and some enterprises are making a move to digital infrastructure more as a means of survival than choice- The concern being that a business that does not adapt to this new digital customer model will be abandoned. On the other hand, a business that embraces change and adapts to a more agile model has the potential to be more successful than ever. This is because digital transformation essentially means looking at all aspects of a business and figuring out how to modernize them so that they can continue to evolve as technology does.
How much of your business's infrastructure runs on digital technology?


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Micro-CHP technologies have been said to be ‘close to market’ for some years, but now – led by very significant moves in Japan – they are finally showing signs of approaching commercial maturity. Sytze Dijkstra keeps an eye on technologies and markets worldwide, and reports that Europe will be next to adopt the leading technologies.
The anticipation of micro-CHP markets taking off is now higher than ever. Last year 22,700 units were sold worldwide and cumulative sales have passed the 100,000 mark. The vast majority of these micro-CHP units are the Honda ECOWILL in Japan.
Several product manufacturers have positioned themselves to start supplying European markets, predicting a step-change in sales in 2010. However, some fear that the expectations could herald another ‘false dawn’ and suppliers may not meet their sales predictions. So what is different this time?
At first sight, 2008 was much like 2007 – whereby global sales of micro-CHP actually levelled off. With the exception of the Honda ECOWILL, all products are still in the ‘innovation’ stage of the market, and still need to bridge the chasm to become a mass-market success (Figure 1).
Figure 1. Can micro-CHP cross the chasm and reach the mass-market?
The last few years of preparation have enabled the sector to create a sound basis for commercial launch. Two Stirling engine manufacturers, Microgen Engine Corporation (MEC) and Whispergen, are establishing volume production facilities. Large utilities and boiler companies are engaged, and some are putting their weight behind the commercialization of micro-CHP products. Governments in Germany, the Netherlands and UK have introduced or announced support. Customer attitudes to micro-CHP remain little understood, but the early signs are positive.
Micro-CHP could therefore finally push aside the harsh statement that it is always one or two years away from market. The market introduction in the next few years will undoubtedly show some hiccups, but it has plenty of potential to play an important role in the heating and electricity markets.
FLAVOURS OF MICRO-CHP – new TECHNOLOGIES
The micro-CHP systems that are entering European markets now are based on Stirling engine, Organic Rankine Cycle (ORC) or internal combustion engine (ICE) technology.
Figure 2. Efficiency performance of the five main micro-CHP technologies
These technologies are characterized by relatively low electrical efficiencies, and high heat-to-power ratios (Figure 2). They are therefore most suited to applications in existing houses, which have a high heat demand compared to the need for electricity. In these places, they can be installed as a direct replacement to a gas boiler, with the added benefit of generating some of the customer’s electricity needs, as well as meeting the heat demand (Table 1).
Table 1. Stirling Engines, ORC and ICE systems dominate the near-term micro-CHP market
Residential buildings will become increasingly well-insulated over time, as new building regulations and energy efficiency measures spread. The UK government, for example, has announced that new buildings will have to be zero-carbon from 2016. The average heat demand of homes will therefore fall, creating the need for micro-CHP technologies with a higher power-to-heat ratio. Fuel cells are well positioned to meet this demand.
Fuel cells for residential micro-CHP generally come in two types – proton exchange membrane fuel cells (PEMFCs) and solid oxide fuel cells (SOFCs). Their power-to-heat ratio is close to 1:1, so a larger share of their output is electricity, compared to the near-term technologies (Table 2). PEMFCs are technically proven in lab settings, and initial field applications have been promising, but costs still need to come down before they can be considered truly commercial.
Table 2. PEMFC and SOFC are promising future micro-CHP technologies
The companies developing SOFC systems have proved that electrical efficiencies of over 50% are possible, but need to improve understanding of the degradation process to ensure viable lifetimes – before costs can even become an issue.
MARKET POSITION AROUND THE WORLD
Commercially available – nothing new under the sun in 2008
The commercial availability of micro-CHP products changed little in 2008, despite previous announcements of intentions to launch products. Japan remains the only market where micro-CHP can be considered commercial, with annual sales of Honda’s ECOWILL levelling at around 20,000. Yanmar has achieved steady sales of its 5 kWe ICE system, and has recently set up a European office to widen its market.
Sales in Germany, representing around 90% of Europe’s micro-CHP market, fell somewhat – affected by a poor boiler market and people postponing purchase decisions in anticipation of the 2009 CHP Law. The 5 kWe Senertec Dachs remains the leading product, having sold just under 2000 units, with OTAG, PowerPlus Technologies and Sunmachine having each sold several hundred units.
Developers in Europe – anticipating market launch in 2009/10
Europe is now full of anticipation that new micro-CHP products will enter the market towards the end of 2009 or early 2010, as the main manufacturers have used the last few years to ready themselves for market launch.
Figure 3. Four elements need to be in place for micro-CHP to move from innovation to the mass-market stage
Whispergen has established a partnership with Mondragon to mass manufacture and supply its Stirling engines to the European market through Efficient Home Energy (EHE). MEC, meanwhile, has moved its manufacturing plant from Japan to China and is building the expertise to start churning out its products in large numbers. Both expect to produce several hundreds of units in 2009, rising to thousands of sales next year. Other players are scaling up as well, careful not to be left behind.
PEM/PEFC products launched in Japan
Japan remains a step ahead of developments in Europe, seeing the market launch of PEMFC in April 2009. Gas companies (Osaka Gas, Tokyo Gas and others) are driving these products to market, aiming to win ground on the electricity companies over the domestic heating market.
Ebara-Ballard, Panasonic (previously Matsushita) and Eneos Celltech (joint venture between Sanyo and Nippon Oil) provide the products, and are convinced that the technology is ready for the customer. They aim to manufacture thousands of units this year, and tens of thousands in 2010. Costs are still an issue – systems cost around ¥3.2 million (€23,000) – but the government has stepped in with a ¥1.4 million (€10,000) subsidy.
SOFC developers achieving promising progress
Commercial SOFC products are still a prospect for the future, but developers have made promising progress in 2008. Ceramic Fuel Cells Ltd. (CFCL) has broken the 50% efficiency barrier, while Topsoe has shown 13,000 hours of reliable performance.
The Japanese SOFC Roadmap, a government-sponsored R&D programme, is seeing the first field trials in 2009 in Japanese homes – essential to make the transition from the lab to commercial products. Lifetimes and system operation remain to be proven before commercial systems can be introduced to the market; planned for 2011 at the earliest.
Germany is becoming the main European hub for SOFC development. The government, energy companies and technology developers, have joined forces in the Callux programme, aiming to test 800 fuel cells up until 2012. CFCL and Ceres Power aim for product launch on a similar timescale.
SHORT-TERM PROSPECTS – READY FOR TAKE-OFF?
Critical factors determining the future of micro-CHP
Micro-CHP developers are convinced that the time for micro-CHP has finally come, but critics remain sceptical after several years of unfulfilled promises. Delta believes four critical factors will shape the fate of micro-CHP in the next few years (also see Figure 3):
- market-ready, mass-market products at the right price
- a route to market
- government push
- customer demand.
Market-ready products – manufacturers ready to deliver
The manufacturers planning market launch in 2009 and 2010 are better placed to deliver than previously, as they have addressed technical teething problems, overcome organizational shake-ups and established mass-manufacturing facilities. This suggests that they are able to start supplying their systems as planned, although some of the more bullish projections may remain optimistic.
Prices are still high, so micro-CHP will rely on subsidies initially, but costs can be brought down if volumes of around 30,000 units per year are achieved.
Route-to-market – engagement from utilities/boiler companies
Electricity and gas suppliers will be critical for bringing micro-CHP to market, as seen from the success of the ECOWILL in Japan. Their commercial weight, customer relationships and heating service networks make them much-desired partners for product developers.
Promisingly, many European utilities see opportunities to generate value from micro-CHP, and have become actively involved in driving the market. All three major utilities in the Netherlands (ENECO, Essent and NUON) are conducting advanced field tests and are planning to start selling micro-CHP systems to customers. Centrica and E.ON are investing heavily in the technology and market preparation in the UK, while MVV (a Mannheim-based utility) and GASAG (a Berlin-based gas supplier) are supporting the Callux fuel cell trials in Germany.
Boiler companies are the other obvious route to market for micro-CHP. Here too, all major players have directly engaged with micro-CHP. Remeha, BAXI and Daalderop have made bullish announcements of selling tens of thousands of units in the next few years, while Vaillant has revealed it is partnering Honda to bring the ECOWILL to Europe.
Governments stepping up to the plate
Cost will remain an issue for micro-CHP when the first products become available later this year, so their success will initially depend on subsidies to bridge the price-gap with condensing boilers. The governments of the leading markets have all realized this, and have introduced or announced support.
The Japanese government has already been offering installation subsidies for the ECOWILL product and is now doing the same for PEMFCs. Its R&D support through the fuel cell roadmap also continues, supporting on-going development of SOFCs into commercial products. The new German CHP Law continues the €0.0511/kWh ($0.07/kWh) feed-in tariff for micro-CHP that allowed for the success of the Senertec Dachs, and introduces an additional installation subsidy.
Support in the Netherlands and UK is less secure, but micro-CHP will be included in Britain’s incoming micro-generation feed-in tariff, while the Dutch micro-CHP sector is lobbying for an extension of the existing subsidy after September 2009.
Customer demand – will people buy?
Until now, micro-CHP has not yet moved beyond the innovation stage of the market, so its appeal to the mass market is as yet untested. This year the main manufacturers are likely to target innovators, but mass-market success requires wider appeal in subsequent years. This will reveal which companies have best anticipated demand and offer the best customer proposition.
Early signs of interest from innovators are good. Sales of Senertech Dachs units in single-family houses in Germany exceeded 1000 last year, even though it is technically too large at 5 kWe. This suggests a gap in the market that can be filled by the new 1 kWe systems which are available in 2009/10. Japanese customers have already been sensitized to micro-CHP by the ECOWILL, paving the way for PEMFCs now. Interest from the wider public is still uncertain, and could be affected by the high product cost; but the strong engagement from utilities and boiler manufacturers allows for good customer communication and support.
Micro-CHP is better placed than ever to move beyond the innovation stage and reach the mass market. Manufacturers are ready to start mass-producing their units; major companies are backing them to reach customers; governments are stepping up to provide financial support; and initial feedback from customers is positive.
The process will not be plain sailing though. If the industry has learned anything over the last few years, it is that the commercialization process always takes longer than planned. Field trials have been successful, but the early experiences of installation and operation in a true customer environment will be vital for the development of the market. If the lessons are learned successfully, production can be scaled up and the necessary cost-reduction achieved – as governments will not maintain support indefinitely.
The set-up for commercial micro-CHP launch is good though, so it is likely the market will develop beyond the current 22,700 units. However, commercial launch in Europe may slip into early 2010 and the bullish forecasts of some suppliers of tens of thousands of sales in a few years may prove optimistic.
Sytze Dijkstra is an analyst with Delta Energy and Environment, Edinburgh, Scotland, UK.


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By the Numbers: Salty-Snacks Forecast
Demographic groups are leaving their imprint on the fortunes of various product categories. In the salty-snack segment, millennials are breathing added life into the category.
Millennials have been more likely to buy salty snacks this year than they were in 2014 and are also more likely to buy them in bulk, according to Chicago-based Mintel.
“As such, these groups’ interest in salty snacks will be important to future category growth,” according to a recent report from the firm.
C-store sales of salty snacks rose 7.6% in the final quarter of 2014. Doritos Nacho Cheese tortilla chips set the dollar-sales pace with $43.2 million, according to Chicago-based IRI. The next highest in sales were Lay’s Classic Potato Chips ($32.2 million), Ruffles Cheddar & Sour Cream potato chips ($28.5 million) and Doritos Cool Ranch tortilla chips ($23.7 million).
In general, salty snacks fall within savory snacks as part of the three top segments, which also include better-for-you and sweet snacks—the latter of which saw declines.
Consumption of savory snacks has increased by 4% since 2006, according to the NPD Group, Port Washington, N.Y.
Many of the salty-snacks segments saw strong c-store sales growth in 2014, including meat snacks, potato chips, tortilla chips and nuts, according to IRI. Ready-to-eat popcorn, a relatively small segment in the category, posted another year of double-digit unit gains (10%) on the strength of $197.5 million in c-store sales.
The top three sellers across the c-store industry were potato chips, with nearly $1.5 billion; dried meat snacks, with almost $1.4 billion; and tortilla/tostada chips, with $848.8 million.
Sources: IRI, National Confectioners Association, Nielsen


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Analyst: Huge Upside for Facebook Inc
Facebook Inc (NASDAQ:FB) stock is up nearly seven percent for the year. That doesn’t sound like much, but it’s pretty decent considering that the market dragged down most tech stocks earlier this year, putting them into negative territory. FB stock was no exception. However, now that fear in the market has mostly subsided, FB stock could continue its growth path. According to one analyst, Facebook’s growth has the potential to send FB stock soaring.
On April 11, Pivotal Research analyst Brian Wieser reiterated his “Buy” rating on shares of Facebook and raised his price target from $136.00 to $154.00. (Source: “Facebook’s stock given 40% upside potential ahead of earnings,” MarketWatch, April 11, 2016.) That implies a 40% upside in FB stock from Monday’s closing price.
“Facebook continues to grow with propulsion from several engines of growth,” said Wieser. (Source: Ibid.)
So what will get FB stock to Wieser’s price target? Let’s take a look.
In his note, Wieser compared Facebook to Alphabet Inc (NASDAQ:GOOG), though he prefers the social media giant.
“We continue to view Facebook much more positively than Alphabet overall,” Wieser said. “Although Facebook and Alphabet’s Google are co-dominant players in global digital advertising, Facebook’s focus on their core business and its future evolution separates the company from its larger peer’s parent.” (Source: Ibid.)
Advertising, for the moment, is Facebook’s bread and butter. Ad revenue accounts for 96.5% of the company’s total sales with “payments and other fees” comprising the rest. (Source: “Facebook Reports Fourth Quarter and Full Year 2015 Results,” Facebook Inc, January 27, 2016.)
Facebook’s ad revenue is also still seeing explosive growth. In the latest quarter, ad revenue increased 57% over the previous year. (Source: Ibid.) To see how impressive that growth rate is, take a look at Google. Google’s ad revenue increased “only” 17% in the company’s latest quarter over the previous year. (Source: “Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results,” Alphabet Inc, February 1, 2016.) So from an ad growth perspective, Facebook is well ahead of Google.
And it’s no wonder. Facebook’s massive userbase is an advertiser’s dream, and it’s still rapidly growing. The social service platform now boasts 1.59 billion monthly active users (MAUs) as of December 2015, up 14% over the previous year. (Source: Ibid.)
Of course, sustaining such high ad growth rates is nearly impossible over the long term, but Facebook CEO Mark Zuckerberg plans to offset that deceleration with “Facebook Live.”
According to internal sources, Zuckerberg is “obsessed” with video and he has been redirecting internal resources to focus on Live, the company’s streaming video service that lets people broadcast video to friends on the site. (Source: “Mark Zuckerberg Is ‘Obsessed’ With Livestreaming, Making Live a Top Priority at Facebook,” Re/code, February 26, 2016.)
Facebook rolled out Live last summer and initially only let celebrities broadcast live streaming videos onto users’ feeds. That restriction was recently lifted, as Live is now available to all U.S. “iOS” and “Android” users.
Facebook says that users watch live broadcasts three times longer than recorded video. (Source: “Facebook Exec Clears the Air Over NFL, Celeb Deal Talks for Live-Stream Push,” Variety, March 7, 2016.) That will be a boon to Facebook’s ad revenue, as live video will increase the potential to serve up more advertising space for more ad dollars.
Online video advertising is also growing rapidly and Facebook is trying to take advantage of the growth with Live. Research firm eMarketer estimates that online video ad sales will reach $14.77 billion in 2019, up significantly from the $7.5 billion in 2015. (Source: “US Digital Display Ad Spending to Surpass Search Ad Spending in 2016,” eMarketer, January 11, 2016.)
Facebook is betting big on virtual reality (VR), which has the potential for a large payoff over the next few years. Facebook acquired VR headset-maker Oculus VR in 2014 for $2.0 billion. Under Facebook, Oculus released the “Oculus Rift” headset just a few weeks ago.
So far, reviews have been mostly positive, which bodes well for FB stock. Facebook expects to ship up to 600,000 units of the Oculus Rift by the end of the year, with sales expected to come in around $400 million, according to Cantor Fitzgerald analyst Youssef Squali. (Source: “Facebook Will Turn Oculus Rift’s Revenue Potential Into Reality, Analysts Say,” TheStreet.com, March 31, 2016.) While that’s only a small fraction of Facebook’s total revenue, the Rift will undoubtedly be huge over the next few years as user adoption accelerates.
In the next year alone, Squali forecasts Oculus Rift revenue will quadruple to $1.6 billion; by 2020, he pegs that number at $7.0 billion, with approximately 11 million units sold. (Source: “Facebook Could Make $7B in Virtual Reality Revenue in 2020,” Says Cantor,” Barron’s, March 31, 2016.) At a forecast of $7.0 billion in revenue, the headset could account for 10% of Facebook’s total revenue.
Virtual reality is about to take off and Facebook will be right there to capture the explosive growth.
The Bottom Line on Facebook Stock
Facebook has quite a few catalysts that shouldn’t make it too difficult for FB stock to reach Wieser’s $154.00 price target over the next few years. With advertising still growing at a rapid rate, Facebook Live just getting off the ground, and virtual reality about to take off, FB stock looks poised to run higher.


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Though it may seem like giant corporations like Amazon command the U.S. business landscape, small businesses continue to be the backbone of most local economies.
The U.S. Small Business Administration estimates that 99.9% of ventures, or 30.7 million companies, qualify as small businesses. However, the SBA’s definition of a small business is broad. To qualify, businesses must meet or fall below the maximum revenue and employee count that the SBA sets for each industry. Revenue limits span $750,000 to $38.5 million, while employee requirements range between 100 and 1,500 people.
But the vast majority of small businesses are much smaller — 89% have 20 or fewer employees. For this study, MagnifyMoney researchers only considered businesses with fewer than 10 paid employees, firms that may include younger companies and mom-and-pop operations with slim resources.
Researchers found that these extremely small companies come close to matching — and in one case exceeding — average payrolls of all businesses in their cities. We ranked the 50 largest U.S. metros by payroll relative to metro averages, growth among companies with fewer than 10 employees and the percentage of workers employed by these firms to see where they dominate.
- Miami comes out on top with a large and growing number of small businesses: 84% of businesses here have fewer than 10 employees with 15% of the city’s total workforce employed by these extremely small companies.
- Los Angeles takes second place, also with a large number of small-scale businesses, but what’s striking about these companies is that their payroll is 94% of the metro average, second only to Las Vegas where companies with fewer than 10 employees actually exceed the average payroll.
- Louisville, Ky. is at the bottom of the list — just 7% of all workers are employed by companies with fewer than 10 employees. Additionally, the number of such small businesses in Louisville is dropping, which could be a bad sign for those still operating in the area.
- Memphis, Tenn. comes in one spot above Louisville, Ky. This metro area had the lowest share of extremely small businesses on our list, as well as one of the lowest shares of all metro workers employed by these companies.
- The average small business rate is 72% among all cities. In other words, roughly three quarters of businesses in the 50 largest metro areas have less than 10 employees on the payroll.
- Generally, payroll per employee at these small businesses tends to be lower than the metro average. On average across all 50 metros, payroll per worker at companies with fewer than 10 employees is 79% of the metro average.
Metro areas where very small businesses dominate
Small businesses support the local economy in these high-ranking metros.
The South Florida city boasts the highest percentage of businesses with fewer than 10 employees as well as the largest percentage of its workforce employed at such companies, despite a relatively small business rate increase in one year’s time, just a 0.2% change. Average payroll per employee is 86% of the relative metro average.
The economic development council in Miami-Dade County identifies and promotes industries that are poised for job and wage growth including aviation, banking and finance, creative design, hospitality and tourism, technology, life sciences and health care, and trade and logistics. Tourism has long been a lucrative sector for Miami. Small businesses in the industry can promote their services at the City of Miami Beach Visitors Center, which has more than 120,000 annual visitors.
2. Los Angeles
Los Angeles holds the No. 2 spot thanks to a strong average payroll, second only to Las Vegas among extremely small businesses. Business rate growth was flat in one year’s time but 12% of LA’s workforce is employed by small businesses with fewer than 10 employees.
Entertainment is unsurprisingly among the top industries in Los Angeles, alongside aerospace, bioscience, transportation and fashion. The City of Los Angeles offers several resources and incentives to support small businesses, such as the Restaurant and Hospitality Express Program, which streamlines the permit approval process for food service establishments. The cyber threat protection program also helps small business owners learn best practices to prevent cyber attacks or breaches.
3. Tampa, Fla.
Another Florida metro rounds out the top three. Though it tops No. 2 Los Angeles by small business rate, Tampa has lower employment numbers: 11% of its workforce is employed by a small business with fewer than 10 employees. The average payroll of those companies is 81% of the metro average. Tampa has seen a 0.1% one-year change in the small business rate.
The metro area’s key industries include financial and professional services, manufacturing, distribution and logistics, life sciences and health care, information technology and defense and security. Tampa Bay is also a popular location for corporate headquarters.
Areas with a lesser impact from very small businesses
These metro areas see less economic influence from local small businesses.
48. Nashville, Tenn.
Nashville has one of the lowest small business rates in our study at 67%. Just 8% of workers in the area are employed by a small business with fewer than 10 employees, which see an average payroll per employee at 79% of the metro average. Nashville has seen a -1.0% one-year drop in its small business rate.
Nashville once had a population growth rate of nearly 100 people per day. That growth slowed this year, according to a report from The Tennessean newspaper, but the area has felt the effects of a rapid influx of new residents, including high tourism, expensive housing and displacement of low-income residents. Large retail chains like Trader Joe’s also continue opening throughout the area.
49. Memphis, Tenn.
The other Tennessee metro near the bottom of our list has a small business rate of 62%, the lowest of all metros we ranked. In Memphis, 7% of all employees work for a small business with fewer than 10 employees with average payroll per employee at 79% of the metro average. During one year’s time, Memphis had a -0.8% drop in the small business rate.
Memphis is among the poorest metropolitan areas in America, and residents face economic barriers such as high poverty as well as segregated and devalued neighborhoods. The Memphis River Parks Partnership, a nonprofit focused on transforming the area of Memphis closest to the Mississippi River, is working to support local businesses. Part of the organization’s efforts include contractor development strategies that position minority- and women-owned businesses for success.
50. Louisville, Ky.
In last place, Louisville has a 66% small business rate and a significant drop of -1.2% in growth during a one-year period, tying with Milwaukee. Just 7% of Louisville employees work for a small business with fewer than 10 employees where payroll per employee is 78% of the local average.
Louisville is working to grow its tech workforce to become an emerging technology hub. The city has invested in job programs and initiatives such as Code Louisville and Bit502, according to The Lane Report. Louisville has also partnered with educational institutions, nonprofits and local businesses to boost the city’s tech output.
To rank the places where very small businesses dominate, we looked at data for 50 of the largest metropolitan areas. Specifically, we evaluated these four metrics:
- Small business rate. This is the percentage of businesses with fewer than 10 employees.
- One-year change in small business rate. This is the change from 2015 to 2016 in the small business rate.
- Percent of workforce employed at small businesses. This is the percentage of all paid employees who work in small businesses with fewer than 10 employees.
- Relative pay of small business employees. This is average payroll per employee of these small businesses divided by the metro area average payroll per employee.
We then ranked each metro in each of these metrics. Each metro area was scored based on the average rank received across the four areas. Data for all metrics comes from the Census Bureau’s 2016 and 2015 Survey of Entrepreneurs.
This article originally appeared on MagnifyMoney, a media brand owned by LendingTree.


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It's tough to overestimate the importance of the cake category for in-store bakery departments. Not only do they account for almost 30% of most supermarket bakeries' sales, cakes are also a destination item that help draw traffic into the department when shoppers are celebrating birthdays, holidays and special events. They offer a canvas for department staff to showcase creative new ideas, and they offer a real opportunity for a bakery to set itself apart from local competitors.
The category held its own during a difficult year, with sales growing slightly, up to $2,795 per store, per week in the U.S. during the 52 weeks ending Sept. 25, according to Perishables Group FreshFacts data, powered by Nielsen. During the same period a year earlier, sales averaged $2,757 per store, per week. The Central, West and Southern regions of the U.S. all enjoyed slight gains, with sales in those areas averaging $2,917, $2,804 and $2,589, respectively, while dollar sales fell slightly in the East, from $3,201 to $3,173.
But, there's little doubt that maintaining sales or posting small gains has been a challenge during the past couple of years.
“We have a pretty good cake business,” said John Chickery, bakery director for Riesbeck's Markets, St. Clairsville, Ohio. “However, probably like a lot of retailers, cake sales have dropped off a little bit for us. Tonnage is about the same, but dollar sales are down because we've probably run a little bit hotter on pricing.”
Cakes are a key category for Riesbeck's, so Chickery worked to maintain market share during the recession partly by running aggressive specials. Cakes are regularly featured in store circulars, and as he noted, prices have been running hot.
“If the regular price of that cake is $9.99, I might be selling it for $6.99 or $5.99 on sale that week. That's taking a big chunk. We're definitely reducing the price to try to keep cake sales moving.”
Sales of smaller cakes and cupcakes have also been growing — a trend that seems to have taken hold at many retail bakeries during the past couple of years. Chickery said that quarter-sheet birthday cakes have continued to perform well, and full-sheet cakes are still doing well around holidays and events such as graduation day. But, some customers seem to be trading down to eighth-sheet cakes as well. Offering a variety of sizes in response to these trends has helped his bakeries maintain its business in the category during a challenging time.
“People are looking for smaller portions. Rather than buy the whole cake or a half cake, we seem to be doing a much better job with single servings or two servings in a container. Cupcake sales also seem to be up again, and that's going back to portion control.”
In the Eastern region, total cake category sales are down 0.8%, according to the Perishables Group, but like Riesbeck's, many bakeries are having more luck with cupcakes, which are up 6.2%, and individual desserts, which are up 10.1%.
Chickery has also continued to run promotions that draw the local community into his departments. For example, this past Halloween was the 13th year that the bakeries have run a special cake promotion featuring jack-o-lantern face cakes. The cakes are on sale for the last two weeks of October, and on weekends, children are invited to come decorate their own in a Riesbeck's store.
Sales have gone up steadily every year since the promotion began, Chickery said. In 2009, the company's 10 stores sold 2,088 of the cakes during the two-week event. This year, they sold 2,523. And, there's the added value of connecting with parents and kids by giving them an activity to do in the store together, he added.
“We've got tables set up; we've got people available to help these children decorate their own cakes. In 2009, for a two-hour window on a Saturday, we had 353 children come in. This year we had 433 children come in and decorate their own cake. … Anytime you can get the general public involved, it creates a little bit of excitement, a bit of a show. That's a good promotion for us. Each year it's gotten bigger and better, and people kind of get excited about it.”
Decorated cakes account for an average of one-third of category sales, according to the Perishables Group, and it's a good sign that every region was able to post small gains in this key subcategory. It grew 3.4% in the West, 3.5% in the East, 4.3% in the South and a whopping 32.4% in the Central states.
While Chickery's experience at Riesbeck's probably mirrors the experience that many high-volume in-store bakeries have had with the category this year, the story is much different at Kings Super Markets in Parsippany, N.J. Illustrating how much shopping habits can vary by market, sales of cupcakes and individual portions at Kings have been flat, while high-end cakes and cheesecakes have been growing rapidly.
“Our patisserie case cake sales are up 15.4% year to date,” Kenneth Downey Sr., the 24-unit chain's director of bakery sales and merchandising, told SN. “I think it's because the economy is lightening up a little bit, and people aren't so afraid to spend their money. I'm happy. The high-end cake sales are coming back.”
Two years ago, Downey said, Kings cake sales were wobbly, but he changed the variety and sizes and began to offer some upscale 3-inch cakes, which did well. Right now, however, those and individual portions are off slightly, he said, even as fancy, whole cakes are keeping the rings up.
In fact, just in the last couple of months, Downey brought in Balducci's branded cheesecakes, which have boosted the cheesecake category's sales by a full 50%.
In the cupcake category, which has remained flat, the best seller by far is a package of high-quality, red velvet miniature cupcakes. Just two bites per cupcake. Their cute size, their quality, and the fact that they're red velvet, which is red hot right now, puts them at the top of the cupcake best-seller list, Downey said.
Another positive sign for supermarket bakeries could be their growth in the wedding cake business in some regions. Wedding cakes represent a tiny 0.3% of total cake category sales in the supermarket channel, according to the Perishables Group. So, any sort of fluctuation in the category is coming from a very small sales base and should be taken with a grain of salt. But, supermarkets in the East enjoyed a 42.4% increase in wedding cake sales during the latest 52 weeks, while in-store bakeries in the West saw a 114.8% jump. This could mean that supermarkets in these regions have been expanding their catering programs, or possibly that in-store bakeries have had the opportunity to hire more experienced decorators during the recession.
Pudding and crème cakes also appear to be a solid growth trend. These cakes account for a more substantial 8.5% of the total category, and they enjoyed a great year everywhere but the East, according to Perishables Group data. In the South, the subcategory grew 25.2%; in the West, it was up 24.5%; and in-store bakeries in Central U.S. states enjoyed a 16.3% gain. By contrast, sales of pudding and crème cakes fell 18.8% in the East.
— Additional reporting by Roseanne Harper


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WASHINGTON – The Supreme Court (search) on Thursday dismissed on technical grounds a Nike Inc. (NKE) appeal on whether it can be sued for false advertising over a publicity campaign to defend itself against accusations that Asian sweatshops made its footwear.
The high court, on the last day of its term, said the free-speech appeal was dismissed without reaching the merits of the dispute. The ruling means the lawsuit against Nike, the world's largest maker of athletic shoes, can go forward.
In the mid-1990s, Nike was criticized by opponents of globalization for exploiting workers, especially women and children, with sweatshop conditions at Third World factories used to make its footwear.
The company responded with the publicity campaign, saying in press releases, letters to the editor published in newspapers, other correspondence and postings on its Web site that it had adopted sufficient safeguards.
One critic, Marc Kasky (search), a San Francisco consumer activist, sued Nike in 1998 under a California consumer protection law aimed at eliminating unfair competition and false advertising.
The lawsuit claimed Nike misled the public about working conditions for its Vietnamese, Chinese and Indonesian laborers, and that its statements amounted to false advertising.
The lawsuit claimed Nike knew workers were subjected to physical punishment and sexual abuse, endured dangerous working conditions and were often unable to earn a "living wage," despite work days that could be 14 hours long.
The lawsuit alleged the Beaverton, Ore.-based company falsely portrayed itself as a "model of corporate responsibility" in an effort to boost sales.
Nike denied the allegations and argued the case should be dismissed because all the statements cited in the lawsuit were protected as free speech. It said its statements were part of an international media debate on issues of public interest.
The California Supreme Court ruled Nike's corporate statements could be regulated as commercial speech and allowed the lawsuit to go to trial.
With the U.S. Supreme Court dismissing Nike's appeal, the state Supreme Court ruling stands and the case can go forward to trial. If Nike loses at trial, it can raise the free-speech argument again.


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LOS ANGELES — In a time when teens have clamped down on spending and retailers are slowing expansion plans, Pacific Sunwear of California said Wednesday that it will increase its retail square footage by 12 percent this year. The rise...
LOS ANGELES — In a time when teens have clamped down on spending and retailers are slowing expansion plans, Pacific Sunwear of California said Wednesday that it will increase its retail square footage by 12 percent this year. The rise doesn’t reach last year’s increase of 14 percent, but it is higher than planned, due primarily to the strength of the girls’ business at PacSun and Demo stores.
For fiscal 2003, PacSun plans to open 75 net new stores versus the 60 stores originally announced. The 75 net number comes from 87 new stores minus 12 planned store closings and will include 61 new PacSun stores, four new PacSun Outlets and 10 Demo stores. The Anaheim, Calif.-based retailer will continue its plan to relocate 30 stores to larger locations. Last year, PacSun added 73 stores and expanded or relocated 30 stores to larger sites.
In a phone interview, chairman and chief executive Greg Weaver said: “In a nutshell, the true strength of both concepts is female apparel.” Girls are also driving accessories and footwear.
Weaver is especially encouraged by the four-year-old Demo urban hip-hop concept, which has benefited from solid sales of girls’ Baby Phat and Lady Enyce brands. The female customer is eagerly awaiting Sean John’s girls’ line expected next spring, he said, noting that if momentum continues, “Demo can be at least a 200-store nationwide chain in the next few years, which may prove to be conservative.”
Also at Demo, Heidi Muther was promoted to vice president of merchandising and Eric Plyler was named vice president of stores. Muther has been with the company since 1996, most recently divisional merchandise manager for Demo Plyler joined PacSun in 2000 and was director of stores for Demo
PacSun, which sells surf and snowboard clothing, has seen stronger gains in same-store sales than most retailers recently. Overall, same-store sales increased 20.4 percent in January with PacSun comps up 18.7 percent and Demo same-store sales up 32.8 percent. A total of 614 PacSun stores, 72 PacSun Outlets and 107 Demo stores had sales during the first 11 months of fiscal 2002 of $802.7 million, an increase of 22.9 percent over $653.2 million for the first 11 months of fiscal 2001. PacSun will unveil fourth-quarter earnings Monday, and expects a 52 percent increase in earnings per share over last year’s fourth quarter.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)


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Adrian Brewer – known for his involvement with Roll Out The Barrel Trust – has launched a new social media campaign.
#WiseUpMaskUp is calling on individuals to make sure they wear face coverings when they are in situations where it’s required, such as public transport or in shops.
He has created a Twitter account WiseUpMaskUp and is calling on others to support the campaign.
In his latest tweet he points out that having travelled on an Isle of Wight ferry on Tuesday, he believed that those travelling without face coverings were not challenged by staff.
Rules on face coverings
Red Funnel’s information page on wearing face coverings acknowledges that some people will be exempt from wearing a face covering:
According to the latest government guidance, passengers with a physical or mental illness or impairment, or a disability that means they cannot put on, wear or remove a face covering will be exempt. Children under the age of 11 will also be exempt.
However, they do also say:
By law, Red Funnel must refuse travel to customers who can (but do not) wear coverings. Customers could forfeit the cost of their booking should they refuse to comply.
What the ferry companies say
News OnTheWight have written to all ferry companies for clarification of their policy to challenge passengers who do not wear face coverings (but who can).
Wightlink told News OnTheWight,
“Face coverings are now compulsory on public transport except for people with exemptions.
“Wightlink staff will remind customers who are not wearing face coverings on board about the regulations.
“Passengers boarding Wightlink ferries are reminded to wear face coverings and are not permitted to travel if they refuse to wear one.
“They can take off their face coverings while eating and drinking.”
A spokesperson for Hovertravel told News OnTheWight,
“Hovertravel is following the Government regulations regarding the wearing of face coverings. Our staff engage with customers, explain the rules and encourage people to wear face coverings.
“Our Website, social media, customer communications and on-site signage all state face coverings must be worn.
“Our teams are also aware that there are exemptions from face coverings and welcome the use of the sunflower lanyards to signal a customer has an exemption.
“If enforcement is required Hovertravel will contact the police, as one of our pilots did earlier this year.”
You can read each cross-Solent companies FAQs on face coverings below:
2.15pm 18th Nov 2020 – Wightlink response added
9.10am 19th Nov 2020 – Hovertravel response added


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PotNetwork Holding, Inc. (OTC: POTN), through wholly-owned subsidiary Diamond CBD, Inc., this morning announced that it has co-sponsored the first in a series of planned charity events in Southeast Asia. “Yesterday, we had just announced this exciting partnership with Exponential, Inc.,” Richard Goulding, CEO of PotNetwork Holding, stated in the news release. “Today, we are signaling the immense global scope of this initiative that will help to seat Diamond CBD as a true global brand, while building incremental sales.” Per the update, the charity event will benefit more than a hundred at-risk youth and children living in a poor neighborhood in the city of Manila, Philippines. Hundreds of food items, as well as other critical supplies such as soap, blankets and clothes, were delivered to our Lady of Lourdes Chapel for distribution. Photos from the event can be viewed at http://nnw.fm/x165B.
To view the full press release, visit http://nnw.fm/1ncBF
About PotNetwork Holding, Inc.
PotNetwork Holding, Inc. (OTC Pink: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. For more information, visit the company’s website at www.PotNetworkHolding.com
Pursuant to the applicable federal law, the sale or distribution of CBD with less than 0.03% of tetrahydrocannabinol by retailers may be permissible in all states. However, the local, state and federal laws regarding these issues tend to remain in flux and should be accordingly reviewed by local counsel and, as such, legal advice is not intended, but specifically disclaimed.
More from NetworkNewsBreaks
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com


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The North American International Auto Show is now open to the general public at Cobo Center with ample amounts of polished cars, interactive displays and a remodeled convention center. Throughout NAIAS, the auto show exhibits offer a number of unique and interactive ways to learn about vehicles and the automotive industry. For those planning on attending the show, which runs through Jan. 25, here are some of the automotive top exhibits to see at NAIAS:
Local Motors is building a 3D-printed car on the main floor of the show. The company has a large, 3D printer which prints out the various components of the car. Attendees can ride in a previously printed, and assembled, car at the innovation track in the lower level Hall E at Cobo.
Kia has a photo booth at its exhibit which allows visitors to star in their own commercial with the company’s hamster mascots. After the video shoot is complete, users can have the commercial emailed to their inbox.
Mini Cooper also joins in the video effort by letting attendees sit in a specially designed car equipped with a GoPro camera and virtually experience driving along winding roads while being filmed. Passengers can then have the video sent to their email inbox.
Volvo takes auto show attendees on a 360-degree virtual ride with Oculus Rift virtual reality headsets where they see a Volvo XC90 assemble around them and they take a trip down a road as day turns into night.
Honda also is utilizing Oculus Rift technology for a virtual reality simulator to learn about the dangers of distracted driving for teens and adults. Drivers get a 360-view inside the car as they drive and respond to various distractions.
Scion also offers visitors to take photos with Instagram and then visit a vending machine for a chance to win swag from the automaker including hats and headphones.
Now that you have an idea of the top exhibits to see at NAIAS, question is, which auto exhibit do you plan on visiting first? Headed to the auto show this week? Share which rides are you interested in checking out in the comments section below.


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Press Conference – Launch of Aeroslim smart fan
Orient Electric’s Fans business unit held a press conference at New Delhi on 16th January 2019 to announce the launch of its new Aeroslim premium ceiling fan which is the India’s first smart fan. Aeroslim is IoT-enabled and can be controlled via Orient Smart mobile app. It features unique slim cylindrical design, aerodynamic blades & telescopic adjustable mounting. It is also India’s first Inverter fan which saves 40% energy.
The new TVC for Aeroslim fan was also shown during the event. The press conference was well attended by the media and bloggers.


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At shut of commerce, the entire market valuation of all listed corporations on the BSE stood at Rs 1,93,18,126.74 crore ($2.6 trillion).
The BSE benchmark Sensex slipped practically 81 factors to shut at 48,093.32 on Thursday regardless of opening with positive factors.
“Taking cue from a optimistic opening within the Asian market, immediately the home market too opened increased. Nevertheless, the optimism was quick lived, and profit-booking led to the benchmark index ending flat for the day,” stated Sumeet Bagadia, Govt Director, Selection Broking.
Fairness indices declined for the second straight session.
Reliance Industries Limited remained the nation’s most precious agency with a market valuation of Rs 12,11,467.12 crore, adopted by TCS at Rs 11,37,985.71 crore.
The Sensex gained 15.7 per cent in 2020, which noticed each ruthless promoting and large shopping for amid the Covid-19 disaster. Fairness traders grew richer by Rs 32.49 lakh crore final 12 months.


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Social media giant Facebook is planning for a rebrand next week for them to focus on building the metaverse, stated by a source with direct knowledge of the matter to The Verge.
Facebook Chief Executive Officer Mark Zuckerberg will be talking about the company’s change of name on October 28, just in time for the company’s annual Connect conference, however, this could reveal sooner, The Verge reported.
“The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram, WhatsApp, Oculus, and more,” The Verge wrote.
According to the tech publication, Facebook wants to be known more than social media. The rebranding could be part of the platform’s reputation after a series of content moderation failures and bad news came its way.
As of writing, Facebook hasn’t released any statement on the matter.
Last July, Zuckerberg told The Verge that the company will transition from being a social media company to a metaverse company.
The metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet,” Zuckerberg added during his interview with The Verge.
This is not the first time that a major company changes its name. In fact, other brands like Kentucky Fried Chicken shortened its name to KFC, Snapchat to Snap Inc., Elance-oDesk to Upwork, McAfee to intel Security and more. These changes have even seen more progress than the actual name they’ve first established.


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Brian Martin, spokesman and antiquarian book dealer at the business in Elstead, near Godalming in Surrey, said: “There are no other antiques shops within five miles of the village. The centre’s closure is causing great dismay among local people and customers who have been buying here for many years.
“This is also a sad day for the 30 stallholders, some of whom have been here for two decades. Some will continue to trade online and at other centres such as Christique Antique Centre in Dorking, from where I will also be dealing in antiquarian books including on field sports.”
Until the Honeypot closure on Monday, August 28, there will be a closing-down sale with stock and shop fittings for sale at generous discounts, mostly between 10-30% but higher on selected items.
Martin said: “The Honeypot’s general stock has always been wide-ranging, with everything from silver and porcelain to textiles, lighting, old tools, toys, cameras, pictures, postcards and period, country and pine furniture, mostly from very modest sums to about £1000.
“The centre would like to thank the many customers and trade who have supported them for so long.”
Waverley Borough Council granted full planning permission in March 2015 for a scheme comprising a smaller retail shop unit, two flats and three cottages.
The antiques centre in Milford Road is open seven days a week until August 28 and can be contacted on 01252 703614.


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Renowned painter's 'Mastry' exhibition now available on Samsung Gear VR.
Samsung Gear VR
Today's cluster of deals are for Samsung Gear VR, Oculus Rift and HTC Vive.
The campaign aims to raise $10,000.
Sensations of Sound features Rachel Kolb, a Rhodes scholar who received a cochlear implant at the age of 20.
Speak of the Devil features over fifty unique locations and thirteen unique endings.
Samsung will be taking over a 1,000 square foot area of Macy's flagship store for a Samsung Tech Ecosystem.
Brighton based team on board to help sort the backend systems.
You may need to visit a car dealership in North America to try it though.
Face your Fears DLC based on Netflix show Stranger Things available now for free download.
The full edition of apelab’s Break a Leg is now available to download.


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It looks like HTC is getting ready to launch a new smartphone, the HTC Desire 21 Pro 5G, the device recently leaked and we also have some of its specifications as well as photos.
The HTC Desire 21 Pro 5G comes with the model number 2AQAG100 and it will apparently come with Android 10.
The handset is expected to feature an IPS LCD display, the exact size is not known as yet and it will feature a quad camera setup on the back.
The main camera on the rear will have a 48 megapixel sensor, there are no details on the other three cameras on the device as yet.
Those are the only details we have on the new Desire 21 Pro 5G smartphone, as soon as we get some more information on the handset, we will let you guys know.
Source Slashleaks, GSM Arena
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.


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The cannabis industry has been struggling with a lack of transparency and legitimacy for decades. A new blockchain-powered project seeks to solve these issues by creating the world’s first transparent, verifiable registry of cannabis plants.
“Is crypto the future” is a question that has been asked for years. It is finally becoming a reality, as cannabis and crypto are now married in many states. Read more in detail here: is crypto the future.
As the US government works to regulate cannabis and cryptocurrencies, now may be the ideal time to formally unite these two game-changing sectors.
Collectors and taxpayers have been playing a never-ending game of cat-and-mouse since the first tax legislation was enacted. And the taxman is always chasing his cut, no matter how you calculate the cheese.
Cannabis and cryptocurrencies have one thing in common: they both operate in the gray area, at least in the eyes of the federal government. Despite their ambiguous legal position, both sectors have managed to establish a sizable market. The cryptocurrency market surpassed $2 trillion in April 2021, according to statistics, while the MJBizFactbook estimates that the economic effect of cannabis sales would reach $160 billion by 2025.
There are billions of dollars in tax money that are left unregulated since there are no federal rules governing the industry. However, with both sectors gaining traction and shedding their stigmas, there may never be a better moment to bring them together.
A Tale of Two Businesses
The US Treasury Department has released a study on cryptocurrency reporting laws in an attempt to deter corporations from hiding transactions. The study specifically said that bitcoin “poses a substantial risk by promoting illicit activities in general, including tax avoidance.”
Similarly, various efforts to legalize, regulate, and tax cannabis have been made in recent years, but federal politicians have shown little interest. Legal cannabis producers have been caught in a dilemma as a result of the legal ambiguity, which has limited most typical banking activities and burdened the business with an excess of cash.
On the one hand, we have cannabis, which is a highly regulated industry that must adhere to a stringent operational compliance regime as well as support financial services providers’ stringent compliance oversight – all of which necessitates seed-to-sale traceability and financial transaction information down to the smallest detail. On the other side, we have a plethora of digital crypto assets that are not only unregulated but also lack suitable prospects for effective utilization.
To put it another way, what better sector to promote the Bitcoin craze than marijuana? Cryptocurrency may take use of the current infrastructure by piggybacking on the scrutiny, monitoring, and reporting requirements already in place for cannabis. At the same time, cannabis obtains a solution to its cash issue by gaining access to a big pool of digital assets and a digital banking framework.
Cash transactions exceeding $10,000 are already subject to IRS reporting obligations under current banking rules. Similarly, the IRS intends to impose similar compliance filing requirements for crypto activity over $10,000.
Furthermore, the IRS seeks to prevent companies from using alternative banking by forcing payment service providers to submit 1099 reports, but owing to banking constraints, this has proven inevitable for cannabis firms. This issue might be the ideal use for cryptocurrencies.
In addition to secure banking,
Whether or not bitcoin is involved, safe banking for the cannabis business will proceed ahead. Cryptocurrency should not be seen as a substitute for traditional banking; rather, it should be viewed as a tool that allows cannabis growers and merchants to expand their financial options.
Cryptocurrency allows cannabis firms to lock in access to financing, which is difficult to come by via conventional banking institutions. Furthermore, as consumer behavior changes, many people want to be able to utilize their crypto assets to make physical transactions. Accepting bitcoin opens up new client channels and increases revenue potential significantly.
In the case of cryptocurrency, collaborating with the cannabis business provides the opportunity to meet IRS regulations via worldwide reporting. All transaction data and activity that occurs at a firm is locked into place using blockchain or an immutable ledger, ensuring that what has been done in the past cannot be undone and that all activity can be readily audited.
Developing a Trustworthy Environment
No one enjoys excessive regulation, yet no one is safe without the correct regulations and monitoring. At the end of the day, it’s all about reputation and avoiding reputational risk, which begins with compliance and openness.
Risk management and avoiding reputational disasters are essential for a company’s long-term success. Any firm may provide a fantastic product, but few people want to do business with a company that has a bad reputation for questionable or unethical business activities.
Dropping crypto into the highly regulated cannabis industry isn’t only a best-case scenario for mainstream adoption; it also ensures that crypto assets are utilized in a lawful and controlled manner, eliminating illicit activities.
There’s no doubting that cryptocurrency exists; it’s a $2.4 trillion business. Now is the moment to welcome it into our ecosystem and properly use its capabilities.
Watch This Video-
- future of cryptocurrency 2021
- is cryptocurrency legal
- cbd stocks to watch


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Warren Buffett is on a roll. Shares of his beloved Berkshire Hathaway (BRK.A -0.10%) (BRK.B -0.36%) are handily beating the S&P 500 performance year to date. Most of the individual stocks in Berkshire's equity portfolio are also doing very well.
But there are some exceptions. A handful of stocks that the Oracle of Omaha likes have delivered losses. That doesn't mean they won't rebound in the future, though. Here are three of Buffett's biggest losers so far in 2021 that could still be long-term winners.
Berkshire invested heavily in Merck (MRK -1.23%) last year. However, Buffett is apparently not quite as enamored with the big pharma stock now: He sold more than 10.8 million shares of Merck in the latest quarter.
Merck has been a loser for Berkshire, although not a huge one in 2021. Its shares are down around 7% year to date. That's not much, but it's a lot worse than most of Buffett's stocks.
The drugmaker missed Wall Street estimates with its first-quarter results. Revenue was flat year over year, while earnings fell. But don't count Merck out. The main problems for the company in the first quarter related to the pandemic and the timing of vaccine shipments to China. Those should only be temporary issues.
Merck's cancer immunotherapy Keytruda continues to have great prospects. The company's spin-off of its women's health, biosimilars, and established brands businesses into a separate entity should clear the path for stronger growth. Its pipeline also includes several promising late-stage candidates.
Snowflake (SNOW 0.73%) ranks as one of the most surprising Buffett buys in recent years. While Berkshire has profited nicely since the tech company's IPO in 2020, Snowflake has been a big loser so far this year with its shares sinking nearly 26%.
But there are some smart investors betting that Snowflake will rebound. Lone Pine Capital, a hedge fund managed by Stephen Mandel, has significantly added to its position in the cloud-based data warehouse stock. Goldman Sachs analyst Kash Rangan thinks that Snowflake has an upside potential of close to 20% over the next 12 months.
Snowflake certainly has some happy customers. The 2021 Wisdom of Crowds' Analytical Data Infrastructure Market Study published earlier this year found that 100% of Snowflake's customers would recommend the company to other organizations. Snowflake ranked best in class on several key metrics.
The company reports its first-quarter results next week. If it keeps up the kind of momentum seen in the fourth quarter, when revenue soared 116% year over year, Snowflake's quarterly update should provide a catalyst for a nice bounce. Even if not, though, the stock could still make Buffett plenty more money over the long run.
Shares of StoneCo (STNE 1.29%) have dropped, well, like a stone so far in 2021. The fintech is down 27% year to date and is close to 33% off its high set in February.
Part of the problem has been the overall sell-off in growth stocks that began a few months ago. It didn't help that StoneCo, which sells point-of-sale and other financial-technology solutions in Brazil, missed the consensus earnings estimate with its fourth-quarter results announced in March.
However, the company added more net new customers in that quarter than it ever has in any other single quarter. Even with StoneCo investing more heavily in its business, it still delivered year-over-year adjusted earnings growth of more than 30%.
It has something that Buffett really prizes: a strong moat. The company continues to strengthen that moat by offering more products and services to its small and medium-size customers. This stock is pricey with shares trading at 55 times expected earnings. But StoneCo's enormous market opportunity seems to justify a premium valuation.


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