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Story URL: http://news.medill.northwestern.edu/chicago/news.aspx?id=216186
Story Retrieval Date: 4/17/2015 11:29:34 AM CST
& Noble redirects Nook’s future toward digital textbook after dismal
Outlook dims for Barnes & Noble as Nook fights for niche
Barnes & Noble Inc.’s once innovative e-reader has fallen from grace.
The New-York-based company had banked on the Nook e-reader carrying it through to the digital age as the book industry crumbled around it. But the Nook, heralded as a technological savior of literature, hangs in limbo less than three years after its release.
That’s where the Nook remains now: Caught between the cloud-storage capabilities of the Amazon Inc. Kindle and the unwavering following of Apple Inc.’s iPad. Barnes & Noble is counting on a recent partnership with an education publishing company to help establish Barnes & Noble as a digital textbook magnate.
But poor sales may cause the Nook’s short-lived life to be prematurely snuffed out. William Lynch, chief executive of Barnes & Noble, is grappling for a way to explain dismal 2012 holiday sales: Nook revenue declined 12.6 percent.
“We entered the holiday with two great new products, Nook HD and Nook HD+, both highly rated media tables of phenomenal quality. Nook device sales got off to a good start over the Black Friday period, but then fell short of expectations for the balance of holiday. We are examining the root cause,” Lynch said in is a statement.
It seemed like a dream come true for readers when the 7.5 ounce gadget debuted in 2009. Even the Christian Science Monitor pledged allegiance: “All hail Barnes and Noble Nook, king of the e-reader heap.” Consumer Reports touted its streamlined focus on “just reading” and others raved about the simplicity of the model.
But last week Barnes & Noble management announced that Nook revenue losses for 2013 would be greater than in 2012 with Nook Media revenues to be less than $3 billion – a black cloud that has caused shares to fall 11 percent in the past five days.
Now, the monochrome screens and elementary browsers of the Nook Simple Touch seem dated and the Nook HD, despite its progressive graphics, may have joined the game too late: The Nook HD was released in late 2012 while the iPad made its debut in early 2010.
After edging out Borders Group Inc. and swallowing its customer base, Barnes & Noble looked to its e-reader subsidiary to carry it through the recession but hasn’t proven it has what it takes, as it touted in its welcome letter to Border’s customers, “to be your bookstore.”
A partnership with Microsoft Corp. in October 2012 to “advance world class digital reading experience” has not done much to increase Nook sales. The deal came with a $300 million investment in the Nook, giving Microsoft a 16.8 percent stake.
In a latest effort to save the floundering e-reader, Pearson Plc, a leading textbook company, has also made a $189.5 million investment in the Nook – giving the company a 5 percent equity stake – and the option to purchase 5 percent more.
The deal with Pearson made sense for Barnes & Noble, which has shown interest in moving towards the digital education market, commented Alan Rifkin, an analyst for Barclays Bank PLC, in a Dec. 28 note. It still does bring about some concerns concerning the stability of the company, he said.
“We view the more recent agreement as another step in Barnes & Noble’s need to sell off additional parts of its Nook business in order to continue to fund the necessary Nook research and development,” Rifkin said.
Rifkin however, remains skeptical about the future of the Nook.
“Going forward, we continue to believe that the Nook will have difficulty competing with the likes of Apple, Amazon, and Google, all which have more diversified product portfolios and stronger balance sheets to compete in the capital intensive product development cycle.”
Barnes & Noble reported Jan. 3 that its Nook segment revenues –comprised of readers, digital content and accessories – decreased 12.6 percent in the nine-week holiday season to $311 million from the year ago period. Sales of digital content, however, increased by 13.1 percent.
In 2009, Barnes & Noble was forced into the digital age by the quick rise of the Kindle and iPad.
“A company in a turbulent industry often seems like a dairy farmer whose herd has been reduced to just one cow, whose only adaptation of his business plan is to milk that heifer extra-hard,” Stephen Wunker blogged for the Harvard Business Review in 2011 regarding Barnes & Noble. That’s what Barnes & Noble did.
Despite an industry-wide book sales decline of 2.5 percent that year, the company’s e-book department experienced a momentous growth of 150 percent.
Wunker also highlighted the revolutionary outlook of the company; applauding its attempts to try new formulas and adjusting “its approaches based on careful listening to marketplace reactions.”
Skip ahead to 2013: Warnings about this year’s losses have already come twice from Barnes & Noble management. Barclay analyst Rifkin projects three-year cumulative Nook losses to reach $729 million despite the diversification of their product line.
The company attributed such declines in sales to lower unit volume and average selling prices. Bloomberg LP reported sales from stores and the company’s website also suffered, sinking 11 percent to $1.2 billion.
Randy Hlavac, CEO of Marketing Synergy Inc. and a Medill Integrated Marketing Communications professor, said the Nook’s decline is understandable when you consider the technologies driving the competing products.
“The Nook was caught between two worlds. It didn’t have a cloud based system to make it cheap and it didn’t have the economics of scale the iPad and other – more complete – systems had,” Hlavac said.
On top of declining Nook sales, CEO Mitchell Klipper in late January commented in an interview with the Wall Street Journal that the company was looking to shutter a third of its stores. The company still operates 689 stores, not including college bookstores, in all 50 states and the District of Columbia.
Up until 2009 the company was opening on average 30 stores a year, according to the Journal. Over the next 10 years, the company plans to pack up stores at a rate of 20 per year until numbers settle at 450 to 500, the Journal reported.
While Barnes & Noble concedes the numbers reported by the Wall Street Journal are consistent with analysts’ expectations, “Barnes & Noble has not adjusted its store closing plan whatsoever,” said Mary Ellen Keating, a spokeswoman for Barnes & Noble. “The wall Street Journal article implies that our rate of store closing has changed. We have historically closed approximately 15 stores per year for the past 10 years.”
Today, the company’s price-earnings ratio is non-existent as the company is generating losses while S&P 500 PE ratio reached $17.34. With a 52-week low of $10.45 and a high of $26, the stock closed on Tuesday at $13.14. Since the year ago period, company shares have risen 11.8 percent – not quite meeting the 14.2 percent increase in the S&P 500 Index.
Mark Tatge, chief executive of Deadline Reporter LLC, sees one bright spot.
“The Nook is really the only exciting thing about Barnes & Noble,” said Tatge. “I think the fact that Pearson has money [in the Nook] that it’s going to evolve. I don’t think it is going to continue to decline…. It has a niche, it has a following – it might just end up becoming a textbook reader.”


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Crytek Pins Blame For Warface Xbox 360 Cancelation On Microsoft
on December 04, 2014 at 11:55 AM
Following Tuesday's announcement that Crytek will end Warface on Xbox 360 after less than a year, we reached out to the developer for more information. In response, a company representative told us that the decision to cease work on the game came from Microsoft. “With Microsoft acting as publisher...
Crytek Pulls Plug On Xbox 360 Version Of Warface After Less Than A Year
on December 02, 2014 at 11:16 AM
Well, that didn’t last very long. Crytek is putting its free-to-play military shooter out to pasture on Xbox 360 after less than a year. The developer announced via its Facebook page today that service will cease on February 1, 2015. The game was released from beta on Xbox 360 on April 22, 2014...
Crytek's Warface Gets Release Date
on October 15, 2013 at 10:35 AM
CryEngine developers Crytek (Ryse: Son of Rome) have ambitious free-to-play plans , and FPS Warface is a major piece of this puzzle. The game comes out soon, and you can take a look at the game courtesy of its latest trailer. Warface comes out on October 21, and the free-to-play FPS – thanks to...
New Warface Trailer Tells Players To Pick A Side
on March 28, 2013 at 05:32 PM
The latest Warface trailer challenges you to pick a side, comparing conflicts in war to a coin: each one has two sides. Players will make up one part of a select unit of elite warriors that have banded together to fight Blackwood, a government keen on ruling with brute force. PublisherTrion Worlds promises...
Crytek Releases New Warface Trailer
on January 28, 2013 at 02:21 PM
A new trailer released today for Warface to celebrate the game’s closed beta going live. It shows off developer Crytek’s (creators of the original Far Cry and Crysis games) new online first-person shooter, revealing slick graphics, different locations, and many a bullet. The PC game is set...
Warface Nets Over 5 Million Registered Players In Russia
on November 26, 2012 at 08:20 PM
On the day Valve announced six million concurrent users on Steam, German developer Crytek announced that five million players registered for Warface, the company's free-to-play FPS for PC. Unfortunately, no one sent Nintendo a memo saying today's number gloating is about millions of people, not...
Research Shows Changing Gamer Habits And A Flat Market
on November 20, 2012 at 08:43 PM
According to the market research and consulting firm Newzoo , consumer behavior among gamers changed dramatically in 2012, while the video game market overall remained flat. Between the PC, television, tablet, and smartphone, consumers currently have four primary screens to access entertainment with...
Trion Worlds Teams With Crytek To Publish Warface
on July 26, 2012 at 05:30 PM
Free-to-Play online first-person shooter Warface now has a North American anchor. Trion Worlds and Crytek will "co-publish and co-operate" Warface in North America, Europe, Turkey, Australia, and New Zealand. Warface started in Russia where it boasts over two million registered users according...
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The Australian consumer tech company, Immertia, has unveiled an augmented reality app for breweries to promote their products to customers.
Called ‘Swigr,’ users can activate the app by scanning a label on a smartphone. It leads to an interactive AR experience enabling shoppers to connect, engage, and buy the bottle or a can from anywhere.
The platform was initially developed for breweries during Covid and has since onboarded several breweries from different parts of the world.
“At Immertia, we use augmented reality to transform regular packaging into stunning showcases and interactive experiences,” said Immertia’s Co-founder and Chief Executive Officer, Dave Chaffey. “I have been a huge fan of the power of augmented reality for some time, and with further research and development, I decided to put together a team to create the world’s best solutions for consumer products.”
More than 50 breweries across the US, New Zealand, Germany, and Canada have subscribed to the app on a monthly basis. “We are now receiving inquiries from all over the world from beverage manufacturers wanting to adopt Swigr to take their brands and products to a new level,” Chaffey added.
The company is targeting millennials and Generation Z with the product. Chaffey believes that this segment makes up for the largest cohort of cashed-up brand-aware consumers across the market.
“They were born with a mobile device in their hand. They are visual, digitally engaged, and adept at exploring and researching their own information and content. Buying is about the experience, not the process,” Chaffey explained.
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Ford is restarting production of the F-150 truck, one of its most lucrative and best-selling vehicles, after it suspended manufacturing following a fire at an auto parts factory earlier this month.
The fire on May 2 at Meridian Lightweight Technologies’ facility in Easton Rapids, Mich. shut down the assembly line, creating a parts shortage for F-150 and Super Duty trucks. Meridian is Ford’s only supplier of the magnesium structure for truck radiators in the United States.
Ford announced Wednesday that production of the F-150 would resume Friday at its Dearborn, Mich. plant now that the Easton Rapids facility is back in operation. Manufacturing of the Super Duty truck is expected to resume at a Kentucky plant by May 21.
As a stop-gap measure, Ford had called in experts and airlifted tooling to a Meridian facility in the U.K. to produce parts for the F-150, the Super Duty, and five other vehicles including the Ford Expedition, Explorer, Flex and Lincoln Navigator, and MKT
Despite the quick turnaround, Ford expects that the production stoppage would reduce profits by 12 to 14 cents per share in second quarter. The F-series is responsible for about 28% of Ford’s total sales, generating $41 billion in revenue in 2017.


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Amazon to double London research and development as it unveils flagship office
Amazon is planting its flag firmly in London soil with the decision to double its recruitment for research and development roles within the capital as it renews its focus on video and streaming.
Amazon expands London research and development
The move is expected to provide a further fillip to the city’s booming tech sector with a doubling in capacity of its Shoreditch R&D base from 450 to 900 employees, spanning 15 floors of a gleaming new 600.000sq.ft base.
If the recruitment surge goes to plan Amazon will have 5,000 highly paid software development engineers, user-interface experts, data analysts and graphic designers to its books in the city by the end of the year, taking its total UK workforce to 24,000.
Speaking at the opening of the new building Doug Gurr, UK country manager for Amazon, said: “London is one of the world’s truly great cities and home to some of the most talented, creative people on the planet, and we are delighted to provide our teams of innovators with a new, purpose-built workplace.”
Dismissing suggestions that Britain’s withdrawal from the EU might hamper recruitment of European talent Gurr continued: “We have a large number of EU citizens. We feel we benefit hugely from our diverse workforce and we are optimistic and hopefully that will continue.”


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Where in the world is cannabis legal?
The UK could be following in suit of dozens of countries including Germany, Italy and Canada, in legalising medicinal cannabis.
Wednesday 20 June 2018 10:52, UK
The debate over legalising cannabis rages not just in the UK, but around the world, with dozens of countries having relaxed their laws.
Could the UK soon follow suit?
Sajid Javid has announced it is "time to review" the laws on cannabis for medicinal purposes - and even suggested it could be reclassified from a class B drug - following the case of Billy Caldwell, who was initially denied medicinal cannabis oil treatment for his epilepsy.
However, the home secretary has warned a review would not pave the way for legalisation for recreational use.
In 2013, Uruguay became the first country to legalise cultivation, distribution and consumption of marijuana, as it battled against criminals.
In Canada, the nation's politicians are working on legislation that would protect young people while allowing adults to use the drug recreationally.
In many other countries around the world, individuals can carry cannabis for recreational use, and grow their own plants at home.
Here's where cannabis is legal around the world.


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5 Ways Blockchain Technology is Going to Change the World
Many individuals are unsure about what to do with cryptocurrency and the blockchain, which witnessed an increase in interest in 2017. After all, most people still don't understand the practical use of blockchain technology until they can use their Bitcoins to purchase food at McDonald's. But given that this new technology is still in its infancy, there are a number of blockchain applications that have the potential to transform the internet as we know it.
Many individuals are unsure about what to do with cryptocurrency and the blockchain, which witnessed an increase in interest in 2017. After all, most people still don't understand the practical use of blockchain technology until they can use their Bitcoins to purchase food at McDonald's. But given that this new technology is still in its infancy, there are a number of blockchain applications that have the potential to transform the internet as we know it. For this reason, I'm sharing a few significant trends with you right now. Look at them below:
It’s Changing New Technologies
Although the IT industry adores emerging industries, some early entrepreneurs have started investigating how the blockchain may affect these fledgling businesses. The investigation into how blockchain may play a role has been amazing, ranging from enhancing legacy infrastructure in FinTech to building decentralised markets for APIs. However, the Internet of Things (IoT) has quickly emerged as a favourite among all the fresh inventions that Silicon Valley has been drooling over.
According to Statista, the Internet of Things (IoT) accounted for an estimated $284 billion in spending in 2017. Blockchain technology may let IoT devices interact more effectively. Even though it is still early in the business, a few companies are genuinely interested in leaving their imprint on the connection between IoT and blockchain.
The German-based Next Big Thing (NBT) is devoted to boosting the growth of Internet of Things (IoT) projects, many of which depend on blockchain ledgers to share and distribute data. The IoT-to-blockchain apps NBT offers provide decentralised answers to some of our most critical health and security issues. These applications have the potential to change the way we live.
"I'm eager to see the continued decentralisation of markets through the implementation of blockchain technology," says Martin Buhl, chief financial officer of NBT. "Blockchain technology enables talented and forward-thinking innovators to swiftly build scalable solutions and watershed business models."
Buhl makes a valid argument about how blockchain is set to influence IoT growth, particularly in the security and health areas. In particular, as this link gets stronger, keep an eye out for how these implementations will be used in the upcoming years.
A New Frontier for Fundraising
This past year saw the launch of the ICO, or initial coin offering, which was one of the most fascinating blockchain innovations. Coinschedule estimates that early-stage blockchain startups raised almost $3.7 billion through ICOs, exceeding the entire amount of venture capital funded in seed/series-A ventures. Contrary to how we often think about investing, these presales are for currencies or tokens that may be used on whatever decentralised network the blockchain business is developing.
While ICOs function similarly to IPOs in that they are public sales of companies, IPOs are for ownership interests in companies, making them regarded as securities. On the other side, ICOs are selling a coin or token that will be utilised on a decentralised network, therefore it's impossible to predict whether the value of the coin will rise or fall. If you want to invest in initial coin offerings (ICOs), be very wary of fraudsters and the possibility that the project might be shut down by the SEC. Regulators are demanding greater proof from blockchain technology firms that they aren't selling securities as the laws governing this new phenomena change, therefore you should check to see whether the platform is really secure.
Keeping Information Consistent
The sharing of information among the participants in these domains will be enormous, as we said above in relation to NBT's efforts in the health and security industries. According to Get RefferalMD, as many institutions use various systems and have difficulty accurately transmitting medical information, administrative errors account for about 86 percent of errors committed in the healthcare industry. But a lot of people are expecting that the blockchain will alter that.
In terms of safety and security as well as the speed at which information may be exchanged, blockchain excels in the medical records sector. Additionally, it is absolutely feasible to have a universal identification (similar to a social security number) that can be readily moved from one care facility to the next with a unique ID for each patient. And although many are eager to start using blockchain to store financial, security, and medical data, anticipate the infrastructure to be built out over the next several years.
Faster, Cheaper Remittance
Blockchain has been a significant aid in the remittance sector, especially through the trading of Bitcoin and Litecoin, despite being an early use-case we sometimes overlook. Remittance, for those of you who are unfamiliar, is basically the transfer of funds from one party to another, which in some locations may be rather expensive (especially developing nations). Remittance fees amount to an average of 7% of the entire amount transferred, according to the World Bank, which adds up quickly for people who send money back and forth frequently. But the blockchain has already reduced costs in this area, and as cryptocurrencies gain popularity, it is expected to gain further traction.
Several factors contribute to the popularity of crypto as a method of sending money. First, the market cap, not a centralised authority, determines a coin's worth. Second, compared to more established methods like Western Union, interchange costs may be somewhat lower. Finally, the degree of protection offered guards against account fraud or theft, which may be a huge comfort in regions with subpar banking infrastructures.
The Rise of Digital Collectibles
The decentralised marketplaces for digital valuables have been among the blockchain's most fascinating uses. Digital collectibles, also known as NFTs, are one-of-a-kind works that are purchased, sold, and exchanged in NFT markets. A great illustration of this is CryptoKitties, where over 200,000 individuals trade virtual kittens (some of which go for over $50,000), according to Business Insider.
In essence, individuals breed and care for their cats to raise their worth (like a Tamagotchi, but with cryptocurrency powering it), with the goal of selling them for more money than they invested. And even though some people might think this is ridiculous, the fundamental concept of producing something with a limited supply that can only be utilised on the blockchain has been revolutionary and something to look forward to in the future.
BlockchainX is an end-to-end blockchain development company catering to clients globally. We help tech startups and entrepreneurs build scalable and stable, decentralized projects. Our team consists of tech architects, smart contract developers, and project managers who will help you get your ideas from paper to the market. From our humble beginnings in 2016, today we serve clients from across continents on a variety of crypto and enterprise blockchain applications. Your ideas have the power to change the world, and it's our job to make sure that those ideas reach your users.


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For only $99, WordPress Master Class participants will leave the seminar with a new or updated website set up and completely ready for publishing.
Lindon, Utah (PRWEB) March 16, 2013
Utah businesses and bloggers looking for a jumpstart to Web development are invited to attend the WordPress Master Class taught by Pete Codella, APR, one of the most recognized digital marketing professionals in the state.
Pete Codella, vice president of marketing and public relations at Alexander’s, will lead the training in an Alexander’s Academy presentation at the company’s headquarters in Lindon, Utah. Codella and Alexander’s – a Utah County printer – continue their tradition of digital training after previously hosting popular training events on various aspects of digital public relations and marketing.
The event will take place March 28, 2013 from 2:30 to 4:30 p.m. It will be followed by an open house with hors d’oeuvres and beverages from 4:30 to 5:30 for master class participants and any others who would like to drop by to see recent Alexander’s print and marketing successes.
Master Class participants will walk through various aspects of Web development including setting up a new website, Google Analytics, FeedBurner, WordPress site customization and search engine optimization. Aside from training, Alexander’s will provide domain registration, website hosting and a WordPress theme for everyone who enrolls – a $250 value.
Those interested in this month’s WordPress Master Class can enroll at alexandersacademy03.eventbrite.com.
“Participants won’t just take notes,” Codella said. “They’ll actually leave the seminar with a new or updated website set up and completely ready for publishing.”
Codella offers similar workshops at national conferences. With the cost of enrollment at $99, this event comes at a fraction of its usual price. Codella and other members of Alexander’s Marketing and PR team will offer group and one-on-one instruction throughout the event.
Codella and his team can assist in building a site for almost any purpose – from corporate to personal websites to online newsrooms. “By building an online newsroom to accompany your regular web page, you can actually improve search placement,” Codella said.
Along with Web development, Alexander’s offers the following marketing services:
-Email marketing and text messaging campaigns
-Keyword and key phrase research and development
-Logo and brand development
-Mobile development for websites
-Online listening platforms — to help identify what others are saying about you online and provide you with publishing ideas
-Online newsroom set-up and maintenance
-Search optimization report
-Social media audit
Alexander’s delivers complete cross-media creative marketing solutions. Since 1979 Alexander’s has employed printing technology to benefit clients. Today the integrated firm delivers innovation on- and off-line, from every kind of printed product to marketing communication services including website design, public relations and social media. For more information visit Alexanders.com or call 801.224.8666.


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Botto Bistro, a Bay Area Italian restaurant that gives zero fusilli about its standings on Yelp, has now turned to asking customers to trash them with one-star reviews, all in protest of the site’s alleged ability to manipulate rankings. How this will look to Yelp users who aren’t in on the joke isn’t clear, exactly, but so far it’s working: 83 of its 148 reviews now give the fewest stars on offer. The complaints stay pretty tongue in cheek, however: “My food arrived before I wanted it to come. It was too hot to eat. It brought back all kinds of terrible memories of eating in Italy,” and “I can only give this place one star. To do otherwise would show them disrespect.”
Chef and co-owner Davide Cerretini says he respects the concept of Yelp, “but the blackmailing thing is ferocious,” referring to the site’s policy of shuffling around good and bad reviews in exchange for advertising, a practice the Ninth Circuit U.S. Court of Appeals just ruled legally defensible. Cerretini is committed to taking away “the only power” the social-networking site has. “I’m going to be one of the most unreliable restaurants,” he says. After the launch of the Hate Us on Yelp campaign, which offers discounts and cooking-class giveaways, an annoyed Yelp sent Botto Bistro a cease-and-desist noting it’s “received complaints from the community that you may be offering incentives in exchange for reviews” that violate Yelp’s terms of service.
Cerretini’s reply? He said he’s “received complaints from the community that you may be removing reviews in exchange of vague explanations to loyal customers,” violating Botto’s terms of service as well. “I’m surprised we are still around on the site,” he adds.


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ANAHEIM, Calif., June 1, 2011 (GLOBE NEWSWIRE) -- Pacific Sunwear of California, Inc. (Nasdaq:PSUN), is scheduled to present at the Piper Jaffray 31st Annual Consumer Conference in New York on Wednesday, June 8, 2011 at 1:50 PM/EDT. Pacific Sunwear will be represented at the conference by Gary Schoenfeld, President and Chief Executive Officer, and Michael Kaplan, Senior Vice President and Chief Financial Officer.
The presentation will also be available via live webcast and interested parties can access the event at the Pacific Sunwear website, www.pacsun.com in the Company/Investor Relations section. A replay of the presentation will be available for 30 days following the presentation.
About Pacific Sunwear of California, Inc.
Pacific Sunwear of California, Inc. and its subsidiaries (collectively, "PacSun" or the "Company") is a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle. The Company sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults. As of May 28, 2011, the Company operates 826 stores in all 50 states and Puerto Rico. PacSun's website address is .
CONTACT: Michael Kaplan SVP & Chief Financial Officer Pacific Sunwear of California (714) 414-4003


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Councils could kill off high street trade if they ramp up town centre parking charges, business organisations are warning.
In an effort to raise more cash, local authorities across the UK are proposing hefty increases in what they charge for parking on streets and in council-owned car parks.
However, the Forum of Private Business says raising the rates could put small firms out of business as shoppers are driven away from the high street and towards out-of-town supermarkets and retail parks, which enjoy ample free parking.
It also points out that the move will hit small traders at a time when they are facing the prospect of a downturn in trade next year due to the forthcoming VAT rise.
Meanwhile, the British Retail Consortium says parking policy should be used to attract customers to the high street, and not as a revenue raiser.
Backing calls for councils to resist raising charges, it says high streets are the heart of local communities, providing jobs and essential services, and a vital part of the private sector growth the wider economy urgently needs. They should be supported not undermined, it adds.
The FPB highlights Burnley, Nottingham, Shrewsbury and Cornwall as examples of places where substantial parking-charge increases are being introduced or considered. In some cases, rises of 150% have been tabled by town halls.
The councils involved claim the hikes are necessary in order to plug shortfalls in their budgets due to widespread cuts in local government funding.
According to the FPB’s head of campaigns, Jane Bennett, putting up parking charges “could well prove to be a false economy as it will drive even more trade out of town centres, leading to more empty units, fewer visitors and lower amounts raised through business rates.
“If these councils are so desperate for money, perhaps they should concentrate on raising more revenue from the multi-national chain stores on their patches, rather than the small firms which are often struggling to survive.”
She added: “Around the UK, many forward-thinking town halls have deliberately kept their parking charges down – or even kept parking free altogether – in order to boost trade. They have been rewarded with thriving town centres, full of varied and unique shops.”
At the BRC, director of business and regulation, Tom Ironside, said: “Jacking-up parking charges looks like an easy option for cash-strapped councils but they should not be ignoring the wider impact on their communities and economies of the damage higher charges causes to town centres.”
The BRC believes parking and transport policy should be seen as a way to attract customers to the high street rather than as a means of traffic management. It should aim to reduce town centre congestion and parking demands without affecting footfall, and incentives to use public transport should be offered.


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Berlin-based startup Ivy has raised $20 million in Series A funding to expand its global network for open banking payments.
“Ivy is building a network of networks for instant bank payments,” Ivy Co-founder and CEO Ferdinand Dabitz said in a Thursday (Aug. 31) post on LinkedIn announcing the new funding. “Over 60 geographies around the world are rolling out instant bank payment infrastructure; Pix, UPI, [FedNow® Service] or Open Banking are just a few prominent examples. Ivy is bringing these regional and heterogeneous systems to a unified gateway.”
The company aims to help businesses start accepting instant bank payments or improve the conversion and success rates within their current instant bank setup, Dabitz said in the post.
The funding will be used to expand Ivy’s banking partnerships into more geographies and attract additional merchant customers, TechCruch reported Thursday. Ivy offers tools for merchants to integrate open banking payment account options at checkout, along with features like “smart routing” for maximum transaction speed, risk management, instant payouts and payment links.
The Series A round was led by Valar Ventures, a prominent FinTech investor, and Ivy’s valuation during the funding round was estimated to be between $80 million and $90 million, according to the report. Ivy currently serves approximately 5,000 banks, covering 500 million bank accounts. Its platform caters to various industries, including online merchants in marketplaces, eCommerce, travel and FinTech.
Dabitz emphasized the importance of a single point of contact in open banking and hinted at upcoming partnerships with major payment service providers (PSPs) that will leverage Ivy’s open banking offerings, the report said. These partnerships could become significant revenue streams for Ivy.
Merchants integrating Ivy’s application programming interface (API) pay fees based on transaction volume, per the report. Ivy’s fees are positioned as a more cost-effective alternative to card payments, making it an attractive proposition for merchants.
PYMNTS research has found that open banking can accelerate real-time payments implementation. It allows instant payment providers to connect with any bank’s API and meet customers where they are, according to “Open Banking and Real-Time Payments: An Essential Partnership,” a PYMNTS and The Clearing House collaboration.
Another benefit of real-time payments via open banking protocols is that these services give small and medium-sized businesses (SMBs) more immediate and accurate insights into their current financial status, the report said.


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Odisha to buy 5, 000 tn of pulses from Centre for sale in state
Bhubaneswar: In a bid to arrest the rising prices of pulses in Odisha, the Food and Supplies department is mulling purchase of 5,000 tonne of pulses from the Centre to sell the commodity to consumers in the State.
In a telephonic interview to OTV, Madhusudan Padhi, Secretary of the Food and Supplies department, said, “We are planning to ask for 5,000 tonnes of pulses from the Centre, which has asked States to specify their requirements. But no formal decision has been taken yet on this.”
Asked about media reports on the Centre’s directive to the State to restrict prices of pulses within Rs 120 per kg, Padhi replied, “We have not received any communiqué telling us in detail the types of pulses for which the prices will be kept under Rs 120/kg. However, the Centre has sent a letter to the States saying that it has procured 50,000 tonne pulses from the country and imported 26,000 tonnes from abroad, which will be distributed to the people via the State governments. The department was asked to specify its requirements.”
Padhi further stated, “The pulses will be bought in raw form from the Centre; milling and packaging will be done by the State government.”
The State requires 4-5 lakh tonnes of pulses annually out of which 3 lakh tonnes is consumed as dal whereas the rest of the quantity is used for different pulse-related food items. People in the State consume around 1.5 lakh tonne arhar, Padhi informed.
Welcoming the Centre government’s move, Sudhakar Panda, General Secretary, Odisha Byabasai Mahasangh, said, “Be it the State government or the Centre, if things are managed properly, the price of pulses should not cross Rs 120/kg.”
“If the Centre is actually supplying arhar and biri pulses at Rs 66 and Rs 82/kg, respectively, the state should buy enough quantity of them,” he added.
Mamata Das, a consumer, said, “Undoubtedly, the rise in price of pulses, a day-to-day necessity, is a burden. If the rate goes up, it will be a burden to middle class and economically weaker sections of the society.”


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Burnson on Logistics: Brazil’s ambitious agenda
While the next few months may see a stall in its torrid pace of development, there’s little doubt about Brazil’s resolve to conquer hemispheric markets and penetrate new ones.
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A number of supply chain summits, forums, and conferences have focused on Brazil this year—and for good reason. The country is chief among rapid-growth markets (RGMs), not only in this hemisphere, but around the world.
According to Alexis Karklins-Marchay, co-leader of the Emerging Markets Center at Ernst & Young, while slower expansion in Brazil and other RGMs is likely in the remaining months of 2012, it will “only be a blip” before returning to significant growth by next January. Mark Pearson, managing director of Accenture’s Supply Chain Management practice, says that by 2020 Brazil could reach five million households earning $30,000 or more per annum. Pearson adds that economic data and projections are a key starting point for companies seeking to expand their sales, sourcing, or manufacturing presence in rapid-growth countries like Brazil. But, far more “granular analyses” are needed to make growth manageable as well as profitable, he argues.
Meanwhile, supply chain managers will be weighing their options when it comes to shipping and sourcing from the well-established manufacturing sectors in Brazil’s southeast and the industrial clusters in Manaus, the capital of the Amazonas state, in the North.
Even though Brazil is South America’s largest exporter and importer, U.S. multinationals must still work around the country’s tariff and non-tariff barriers. Analysts with Transport Intelligence (Ti) in London, report that the country’s trade administration is fairly good, although businesses complain that customs procedures are burdensome. The country’s border administration is fair, too, although transport infrastructure—in particular, railroads, roads, and ports—is relatively underdeveloped.
But Ti analysts say that the telecommunications infrastructure is more than adequate for today’s shippers. The country boasts an open and competitive air transport sector, too. Brazil is the world’s largest producer of regional jets.
Other economic statistics are similarly impressive.
Brazil ranks third in production of shoes and soft drinks, fourth in commercial aircraft, eighth in steel, and tenth in automobiles.
The country is home to Latin America’s largest forestry based industry, and boasts the world’s fifth-biggest rubber industry and the seventh largest paper and pulp industry.
Brazil is the world’s sixth-largest market for cosmetics, with annual sales of $9 billion.
The textile sector is made up of 30,000 companies which generate annual sales of approximately $21 billion.
- The country contains 22 percent of the world’s arable land surface.
If there is one caveat these days, it is that border security remains weak. This problem is hardly unique in South America, and Brazilian trade authorities are adamant about solving it.
Infrastructure a work in progress
So, given this complex risk/reward scenario, is it any wonder that aggressive global players are seizing the advantage? Strong demand from China for Brazilian commodities such as steel and iron ore has resulted in that nation becoming Brazil’s top export trade partner, surpassing the United States. Furthermore, Brazil is pursuing an energetic policy to expand its supply chain infrastructure across the continent for greater access to Asian markets.
As it stands now, Brazil’s port system desperately needs updating and expansion as many ocean cargo gateways are experiencing serious congestion in the country. Indeed, Ti analysts note that of the 34 public maritime ports under the jurisdiction of the Special Secretariat of Ports of the Presidency (SEP), 16 are managed directly by the state and local governments—a bureaucratic nightmare. The other 18 are administered by “dock” companies, which are joint stock companies whose major shareholder is the federal government.
Adding to this confusion is the fact that the SEP also is responsible for formulating policy and implementing measures, programs and projects to support the development of infrastructure of seaports.
Because of the poor state of the ports, many private alternatives have been built in order for companies to move their commodities to market quicker, Ti analysts observe. For example, Brazil’s mining mogul, Eike Batista, announced plans to build one of the world’s largest ports. The project has attracted both local and foreign investors. Batista came up with the idea of building a new port after experiencing constant delays in getting iron ore from his mines onto ships bound for China.
The port will include a cement causeway that will stretch about 1.8 miles into the ocean. It will have a four-lane highway, pipelines and conveyor belts that will move raw materials onto vessels heading to China. The Acu Super Port, nicknamed “highway to China,” will be completed this year at a cost of about $2.7 billion. The port will be a 10-berth terminal off the Brazilian coast.
Work is also underway to improve rail and road access to the Port of Santos, which up until recently has been a choke point for goods moving in and out of the southeast.
Grupo Libra, the first private company to manage a sea terminal in Brazil, recently completed a dredging project at Santos’ navigation channel. Analysts say the company will likely make similar improvements in Rio de Janeiro, where it holds several terminal concessions.
The Port of Rio Grande—a southern gateway having a strategic importance that goes beyond the limits of its national borders—is another resource worth tracking. According to port administrator Jaime Ramis, it will soon become “the hub for the region,” including Argentina, Paraguay, Uruguay, and Bolivia. Indeed, the Port of Rio Grande is able to accept 8,500 twenty-foot equivalent units, while the average in Brazilian ports is 2,300 TEUs. It is also preparing to become a logistics center for the southern end of Brazil’s hydrocarbons offshore deposits and booming oil industry.
Despite Brazil’s vast network of navigable rivers, inland waterways currently account for only 13 percent of waterborne traffic. That, too, is changing, however. The Agencia Nacional de Transportes Aquaviarios, the federal agency that regulates inland waterway, has been aggressively promoting private investment for the past decade. And there have been encouraging signs that international companies are preparing to expand operations into this cost-efficient distribution mode.
Brazil shaping own destiny
As we have surmised before, the Panama Canal may not be the global transportation “game changer” many expect. Brazil is an example of how one giant sovereign state and its supply chain stakeholders are shaping destiny with ambitious plans of their own. Witness the string of new highways planned to extend Brazil’s reach from the Atlantic to the Pacific via landbridge to Peru. Odebrecht, the Brazilian firm that built part of the existing highways, plans to invest $10 billion on infrastructure in Peru over the next five years on a range of power, water and road projects.
The project is being dubbed “InterOceanica,” and analysts suggest that this inevitable byproduct of South American integration will make Brazil the leader in boosting the continent’s trade with China and the rest of Asia.
Finally, because risk mitigation is now top-of-mind with most U.S. supply chain managers, this could be another reason to invest closer to home. Sudden and dramatic supply chain disruptions in Japan (earthquake)Thailand (floods), and India (blackouts) may make this hemispheric neighbor even more attractive as a way to “hedge bets” with a more sustainable sourcing strategy.
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
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Whilst another 3-day COVID lockdown and rain has slowed traffic into the Sleeper Hut this week, the team have been busy behind the scenes finalising end of financial year reports and putting the final touches on our new website.
After months of discussion and collaboration with our good friends at Yah Marketing, the Sleeper Hut website will finally be launched today, Friday 2nd July.
Replacing our previously static and dull website, the newly launched platform will be interactive and present customers with improved informational and education resources.
It also signifies a major milestone for the company, as we begin our transition into the ecommerce market.
For the immediate future, customers will be able to enquire about products online and fill out a “quote cart”, that will be sent directly through to the sales team for processing.
This will serve as an interim process until our ecommerce platform is fully integrated into the website which will allow for products to be purchased and paid for online.
A range of educational resources that will aid those who visit our website in learning more about the installation process are also under development.
We would like to give a huge thanks to George and the team at Yah Marketing for their work in developing this website and being highly responsive to our individual requests and requirements.
Together we have helped build the platform the Sleeper Hut needed to sustain our growth well into the future.


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Who says that being a videogame enthusiast means being a couch potato? According to the Virtuix Omni, a new Kickstarter project, gamers will have to literally get off their behinds and walk/sprint their way around various game environments using a bowl-shaped, low-friction surface and matching shoes.
The tech world has already been hyping about the Oculus Rift for quite a while now – even a 90 year old grandma! – but now all eyes will be on the Omni and it is set to launch its Kickstarter crowd-funding page on Tuesday. With a stipulated endorsement from the founder of the Oculus Rift himself, Palmer Lucky, Omni is set for a promising future implementation in games.
Virtuix, the Texas based firm, was able to secure over $600,000 ahead of its 22 July deadline. The company is aiming to start shipping its first commercial product in January.
Even though Omni’s green & black platform is certainly the most appealing feature, the plastic and steel gadget itself does not contain any electronics.
A demo version – financed by its founder’s personal savings – employs a Kinect sensor to achieve motion tracking, but the company says Microsoft’s peripheral will not be required for the final product.
Alternately, the plan is to integrate accelerometers and magnetometers into customized shoes that will detect both the player’s speed and orientation. The rest of the gear is designed to steady the gamers as they move around.
Affiliated software interprets movements as key strokes, thus allowing the owner to use Omni with any PC of Mac game that lets them customize its keyboard controls.
Nonetheless, Virtuix indicates that the kit works best if game developers use its software development kit to make sure real-world footsteps match their in-game equivalents.
Make sure to stay tune to Virtuix’s homepage to get the latest on the upcoming Kickstarter launch.


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GLOBAL: Carlsberg positive over Asia as FY profits rise
- Full-year net profits up by 5.8% to DKK5.5bn (US$984.3m)
- Net sales in 2012 rise by 5.7% to DKK67.2bn
- Operating profits drop by 0.2% to DKK9.8bn
- Key Russian beer market “flat”, but Asian markets growing
Carlsberg reported a rise in FY net profits and sales
Carlsberg has said its key market of Russia was “flat” in 2012 but the group saw strong volume gains in Asia as it reported a rise in full-year net profits and sales.
In the 12 months to the end of December, group net profits rose by 5.8% to DKK5.5bn (US$984.3m), the Danish brewer said today (18 February). Sales in the period were up by 5.7% to DKK67.2bn.
Operating profits for the full-year came in flat at DKK9.8bn.
In Q4, Carlsberg reported net profits of DKK192m, following a loss of DKK85m the prior year. Sales in the three months to the end of December were up by 7.3% to DKK15.9bn, while operating profits rose by 17.3% to DKK2.2bn.
For the full-year, group organic beer volumes were “flat”. In Western Europe operating profits fell by 5% in the year, Russia was “flat” and Asia beer markets “continued to grow”, the company said.
CEO Jørgen Buhl Rasmussen said: “The group delivered a good performance in 2012, despite a challenging Western European beer market. The commercial and organisational changes implemented in Russia are bearing fruit, and in Asia we continue to deliver impressive growth and strengthen our market positions.”
Looking ahead, Rasmussen said the group will “look to capitalise on the attractive growth opportunities” in Asia and across Western Europe a ”supply chain integration and business standardisation project” will be a key priority in 2013.
Shares in the group were down this morning by 6.14% at DKK565.5.
For an in-depth look at Carlsberg's regional performance last year, click here.
For just-drinks' coverage of the firm's analyst call, click here.
For the group's official announcement, click here.
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The governor of the Banque de France has announced the launch of experiments and a call for projects for the creation of a central bank digital currency in the first quarter of 2020, according to La Tribune. The objective is to test an interbank digital currency first. which can serve as a laboratory for a possible future „euro digital”. An issue of sovereignty for Europe.
The governor, François Villeroy de Galhau, announced this Wednesday, December 4, the launch of experiments for the creation of a digital currency of central bank in the coming months, during a conference day organized by the Authority prudential supervision and resolution (backed by the Banque de France).
” We intend to start experimenting quickly and launch a call for projects by the end of the first quarter of 2020. We are particularly interested in participating in experiments involving the integration of a” wholesale „central bank digital currency into innovative instruments for the exchange and settlement of tokenized financial assets [in the form of digital tokens, ed], „he said.
The Banque de France will be the first central bank within the euro zone to engage in this approach. The Swedish Riksbank began a reflection early on a possible e-crown but which has not yet succeeded. The Chinese Central Bank is also working on an electronic payment currency project.
The governor emphasized the issue of sovereignty for France and Europe.
„I see a definite interest in rapidly advancing the issuance of at least one wholesale central bank digital currency in order to be the first issuer internationally and thus derive the profits earmarked for a reference central bank digital currency. „Said François Villeroy de Galhau.
The Banque de France did not specify which technology was envisaged and whether it could be a „stablecoin”, a virtual currency whose price is fully indexed to the value of a legal tender, in terms of the euro. We think logically of blockchain technology, born more than ten years ago with Bitcoin. The Banque de France was one of the first central banks to launchits own blockchain, operational, for interbank use, for the processing of SEPA creditor credentials.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”


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Nike Just Dropped A Shoe Every University of Michigan Fan Needs
The M Den announced that Nike was dropping a new shoe for U of M fans everywhere.
The new Nike Michigan Metcon Repper DSX shoes officially went on sale today (March 1st) and Wolverine fans everywhere are snapping them up.
The shoes are part of The Victors Collection, and are available right now, but they are selling fast.
You can buy them from the MDen, Nike, or in store at The Victors Collection. The shoes are selling for $110 retail.


text: DirecTV Now, the new streaming cable service released a month ago, has revealed when their discounted introductory plan will increase in price. The $35-per-month 100-channel plan will go up to its regular price of $60 per month on January 9th. Anyone who has already signed up for the plan, or who signs up before January 9th, will continue paying $35 per month. The new wording on DirecTV Now’s site says “offer rate may increase” which implies the $35 price isn’t for life and will likely increase at some point, but for now, DirecTV Now is allowing customers to keep the introductory price beyond the promotion’s expiration date. If you sign up now to lock in the lower price, use promo code INTC1MONTH to extend the normal 7-day free trial to a 1-month free trial.


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By WSJ Staff
The new iPhone 5 was the star of Apple’s announcement Wednesday, but the now-outdated 4S may still be the better deal, Kelli Grant reports. The 4S’s price tag dropped to $99, while the iPhone 4 is now free with a two-year contract. The iPhone 5 will sell for $199 under contract.
Grant joined the Digits show to compare phones.


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Since we founded Dispatches Europe in 2015, Eindhoven has been one big global headline away from its first Skype-or-Adyen-level Unicorn since ASML back in the day.
Suddenly, at the end of 2019, there is a second candidate emerging after JW Player.
This has been an amazing year for Lightyear, which debuted its first car back in June at the Helmond Automotive Campus. First, Time Magazine includes Lightyear, which has built a solar/battery sedan, on its November list of 2019’s best inventions. Headlines anointing Lightyear as “the Tesla killer” followed. Next, Lightyear hires a former Tesla executive as their commercial strategist. Coincidence? We think not.
Let’s go with the Time recognition first:
Electric cars are all the rage. But there is the problem of batteries running low far from a charging station. Dutch automotive startup Lightyear has a potential solution in the Lightyear One, a futuristic-looking electric sedan adorned with solar panels that recharge the car.
Shortly after Lightyear made the Time list, company executives announced they’ve hired Johan Vos, who played a role in rolling out Tesla models in Europe, as its chief commercial officer.
Vos was at Tesla in various roles, including 18 months as senior director service, support & operations EME from 2016 until he joined Lightyear last month, according to his LinkedIn profile.
When serious executives with serious management experience jump into a startup … well, that’s when things get serious. And by serious, we mean raising hundreds of millions or even a billion euros/dollars toward building a serious automotive company … the European Tesla. And – one hopes – more profitable and stable than Elon Musk’s flashy but erratic effort.
Clearly, the solar element of the Lightyear concept has limited practicality in the Netherland and Northern Europe. But if you live on the sunny Mediterranean or Aegean, all of a sudden, Lightyear looks a lot more appealing. And if you live in Dubai, Sydney, Los Angeles or Phoenix, this combination of solar and battery is a no-brainer.
Now they have the management. All they need is money.
5G hub coming to HTC
Just a year ago, High Tech Campus Eindhoven created the largest multi-building startup hub in the Netherlands (though we keep hearing Impact Hub in Amsterdam is bigger).
Now, this could be a bigger deal. Much bigger.
Campus executives announced at the recent High Tech Next: Towards 2030 event that a 5G hub is coming to campus next month. All the regulatory applications and zoning issues aren’t complete, so details are scarce.
But Cees Admiraal, HTC business development director, said the hub is planned for Hall 3 in Building 25, a collaboration with two telecommunications/networks giants: Stockholm-based Ericsson and Vodafone, based in London.
Also in the mix is Aircision, a HighTechXL startup that uses CERN’s free-space optics laser as a link in the 5G systems that every innovation center in the world will be building.
Stop us if you heard all this before, but 5G will provide devices from phones to autonomous vehicles with a far faster, far broader Internet connection, and nearly zero latency. In other words, 5G is crazy fast and crazy reliable, with no drop-out. But … it takes a lot of infrastructure, including cell towers linked by lasers. And that’s where Aircision comes into the mix, providing the crucial link.
Aircision, part of HighTechXL’s first deep-tech cohort, uses a CERN-developed laser technology to transmit data and connect the transmission cells in place of more expensive fiber optics or microwaves.
In addition to the 5G hub, an AI lab is also in the works on campus. And all of this is part of a larger push to compete with The Valley, Boston and Berlin.
Should Eindhoven join TristateCity?
Bart Brouwers and the crew at Innovation Origins have – as they always say – a preview of the future with a current post about the TristateCity model. And to some extent, the future is already here in the Netherlands. You just have to rethink your definition of a “city.”
The TristateCity model’s central tenant is bigger is better … that for 21st-century cities to be competitive, they have to be large enough to offer opportunities for top talent. Peter Savelberg, creator of the TristateCity model, states that 60 “super cities” with populations of 15 to 30 million, have formed in the past 20 years, including Tokyo/Kawasaki/Yokohama, the Seoul metroplex and Shanghai.
Which means small European cities such as Eindhoven – population 225,000 – is a blip on the radar of highly skilled talent and the capital that follows them no matter how many advanced companies are here.
Unless you see the bigger picture. Which Savelberg sees as Dutch cities joining together with other regional cities into an Amsterdam-Brussels-Düsseldorf triangle, a mega-cluster with 30 million people and marketed as … wait for it … TristateCity.
From the TristateCity website:
TristateCity is both the European Gateway (3 airports/3 seaports), the European Capital (Brussels Capital) and one of the most important European Innovation Hotspot (Eindhoven/Rhein-Ruhr).
This is not exactly new. Amsterdam, Rotterdam, Utrecht and Den Haag make up the Randstad megalopolis, with about 8 million people. Düsseldorf, Köln, Bonn, Duisburg and all the cities in southwestern Germany are considered the Rhine-Ruhr, with 10 million people, the fourth or fifth largest “city” in Europe behind the London metroplex, the Paris Metroplex and Moscow. But none of these regions market as a city.
Savelberg sees his marketing effort as more effective than the underfunded city marketing plans. And we agree.
Actually brief briefs:
Eindhoven serial entrepreneur Sjaak Deckers has done it again. His latest company, Lausanne, Switzerland-based GTX, has merged with Los Angeles-based NeuroRecovery Technologies, to form GTX Medical BV. Deckers has a history of developing technologies for restoring movement for people with spinal cord injuries.
The merged company is developing Targeted Epidural Spine Stimulation (TESS), an implantable spinal cord stimulation system with real-time motion feedback, according to the news release.
The Christopher & Dana Reeve Foundation and several venture capital firms, including Munich-based Wellington Partners, are investors in the new effort.
Deckers founded Sapiens, which sold to Minneapolis-based medical tech giant Medtronic in 2015 for 150 million euros.
• New auto tech from NXP
Though it’s a much quieter company than ASLM, Eindhoven-based NXP is always developing cool new semiconductor innovations. NXP and Volkswagen are rolling out NXP’s RoadLINK V2X communication solution.
The technology can prevent accidents by enabling cars to communicate with each other regardless of the car brand … and without cellular infrastructure.
Also, NXP just developed a new chip that can let you use your phone to locate, open, then start your car. NXP is the world’s largest maker of chips for the automotive industry.


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In 2012 the first Bangladesh Frontier Forum was held in Oslo, aimed at attracting Norwegian businesses to Bangladesh. The Business Matchmaking Program, which was established in 2010, is facilitating partnerships between Norwegian and Bangladeshi companies. The Nordic Chamber of Commerce and Industry was established in 2010 as a forum to assist and promote Nordic companies in Bangladesh.
The largest Norwegian investor in Bangladesh is the Norwegian telecom operator Telenor, which is the majority owner of Bangladesh’s largest mobile phone company GrameenPhone. GP has almost 50 million subscribers and around 45% market share, and is the biggest taxpayer in the country. Telenor`s investment in Bangladesh is an example of how private sector can contribute to development and shows how Norwegian ‘knowhow’ and technology can lead to greater economic and social inclusion.
Development cooperation is now focused on climate change/disaster preparedness and human rights/women’s rights.
For more information about our bilateral relations, see our Platform for Partnerships.


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Neighbor to neighbor: Cave into federal coastal land grab or we won’t sell you cheese.
The New York Times reports:
Anchor Produce Market sells homemade mozzarella, its own fresh salsa and what many regulars swear is the best sweet corn on Long Beach Island.
“Federal taxpayers will be paying to protect these properties, but some homeowners want municipal money for lost ‘views?’ There is no sense of shame left in this country. ”
But, a sign on the counter declares, it will not sell anything to the owners of 63 Long Beach Boulevard, 7 Coast Avenue, 12 Sea View Drive South or 34 other nearby oceanfront properties.
Those owners have refused to grant easements to allow the federal government to build a massive dune along a 50-mile stretch of the Jersey Shore. Without the protective ridge of sand, engineers predict it is only a matter of time before homes, neighborhoods, even entire communities are wiped out by rising seas — a reality brought into stark relief by the devastation from Hurricane Sandy.
So until they sign the easements, holdouts should buy their groceries elsewhere.


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By Anurag Dixit
Decentralized finance (DeFi) has the potential to play a significant role in increasing cryptocurrency adoption in 2023. DeFi refers to using blockchain technology to create a decentralized financial system without needing multiple intermediaries. The biggest USP for DeFi is that it allows for creating new financial products and services that are more accessible, transparent, and global than traditional options.
While cryptocurrencies are the main asset that’ll benefit from a widespread DeFi infrastructure, the applications of various DeFi protocols or products can also drive growth in multiple existing internet sectors and infrastructures. Various global online platforms like Shopify and Stripe are integrating stablecoin payments to facilitate global swifter value transfer and commerce. While Visa and Mastercard rails have established themselves well in the market, the benefits and swiftness of DeFi products and services are pretty stark too. Solana’s Saga phone, a new approach to crypto hardware and access point for the crypto ecosystem, is scheduled for release later this quarter.
A big point to note is that anyone across the globe can book their phone via Phantom (a non-custodial crypto wallet) as long as the phone is scheduled to ship in the region (to ensure delivery- booking is still functional even without delivery opening in all regions). While the phone is not scheduled for India release, the seamless availability to book it via the wallet extension shows the swiftness DeFi protocols bring to global value transfer and trade. While existing payment rails can do the same action, the internet needs its native money infrastructure backed by open-source and transparent code.
Several steps can be taken to maximize crypto adoption in 2023. One of the key ways that DeFi can drive cryptocurrency adoption is by creating new and innovative financial products. For example, DeFi platforms like Aave, Compound, and MakerDAO have created new ways for users to earn interest on their cryptocurrency holdings, which can help to increase demand for these assets. These and similar protocols continued and will continue to function swiftly in times of panic and huge volatility. We had experienced a similar situation in the recent past when a bank run was happening on multiple Centralized exchanges in the wake of FTX-Alameda insolvency issues.
One of the most important steps is to improve the user experience of DeFi platforms. This can be done by making the platforms more user-friendly and accessible, as well as by improving the security and reliability of the platforms. Some companies are working on enhancing accessibility and bringing first-time web3 or cryptocurrency users via an amalgamation of web2 and web3 technologies. While such products have received good initial traction, as with all things in finance, how far and long the products can capture more trust and usage is something essential that needs to be monitored.
The underlying technology that makes DeFi possible is the permissionless nature that blockchains provide. The open-source nature of DeFi helps provide great transparency on the protocol’s operations. But the access to these features and products is yet to hit a medium of delivery that’s efficient for the masses. While centralized offerings have got huge users in the recent cycle, transparency and trust features like independent audits and structured compliance with government norms are crucial. The industry is hopeful of getting a deeply structured policy soon as it’ll increase the overall confidence of the masses in the asset class and technology.
Another way that DeFi can drive cryptocurrency adoption is through the use of smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They allow for the creation of new financial products and services that are more transparent, secure, and efficient than traditional options in a decent number of cases. For example, smart contracts can create decentralized lending and borrowing platforms, exchanges, and other financial products.
DeFi can also drive cryptocurrency adoption by providing greater financial inclusion. Many DeFi platforms are built to be accessible to people who do not have access to traditional financial services such as bank accounts or credit cards. This can help to increase demand for cryptocurrencies and drive adoption. Governments across the world are planning to launch their CBDCs. The public and private blockchain infrastructures highly drive this movement. This can be a massive onboarding channel for many new users to the crypto ecosystem. While the interoperability of CBDCs and cryptocurrencies is yet to be clear, the nature of handling digital assets will be very similar behavior. Over time, the utilization of DeFi protocols and the crypto ecosystem are bound to benefit from this movement.
Dire Situations :
The Canadian trucker’s access ban (in the wake of their protests last year) from the traditional financial infrastructure left them and their supporters with no option but to accept donations in cryptocurrencies, specifically BTC. While a good amount of aid was provided to them from all over the globe, the utility of those assets was limited as the inclusion of DeFi infrastructure in day apps, stores, malls, and other essential purchases are yet to happen. While attempts are in progress to integrate the traditional infrastructure with crypto-native payments, every product and service has its maturation arc.
Even Ukraine was able to raise aid of $54 million via the crypto route in March of 2022.
While the base layer of DeFi has become very robust over time, the use of case-specific applications building over time will enhance the usage of the protocols, blockchains and generate huge revenues for the cryptocurrency ecosystem as a whole.
In conclusion, DeFi has the potential to play a significant role in increasing cryptocurrency adoption in 2023. The new financial products, services, and technologies that are being developed on blockchain technology can provide new opportunities for users to earn interest on their cryptocurrency holdings, access new markets, utilize unforeseeable financial products and provide greater financial inclusion. DeFi can also drive cryptocurrency adoption by using stablecoins, decentralized exchanges, and centralized solutions with great transparency and harnessing the power of smart contracts.
A big challenge is that DeFi platforms are also subject to regulatory risk, as many governments worldwide are still figuring out how to regulate this new and rapidly evolving technology.
Another important step is to continue to educate and inform users about the benefits of DeFi and how they can access these platforms. This can also be done through various channels, such as social media, educational videos, and online tutorials. DeFi platforms can also be improved by partnering with traditional financial institutions as the core decentralization ethos is maintained.
Ethically, transparently managed, and independently audited platform solutions can be a good onboarding exercise/ experience for most new cryptocurrency users.
The author is founder, Kunji


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We’re all for greener, more Earth-friendly electric cars. While at first there was only the Prius – that in all honesty wasn’t the best looking car – there are more and more electric cars and hybrids popping up that look and perform way better.
Thus is it almost inevitable that one day, electric cars will be the market standard.
However, there is one problem that electric cars face; charging. Sure, you can charge your car at home, but you won’t be able to travel as far as you would want to with the initial charge before your battery runs out and you need to plug in again.
Well, this is one problem that BMW is looking too eradicate – thus making it easier for people to drive around with their electric cars and in turn encouraging others to move over to the lighter side of (automobile) life.
The technology that BMW unveiled recently is called ‘Light & Charge’ and the name is a literal representation of the system that is represents.
The German company unveiled their plans for streetlights that double as electric charge points for electric cars. Truly a very innovative and clever idea. The streetlights will feature LED lights that are similar to car headlights along with the BMW ‘ChargerNow’ electrical charging station.
The company’s ambitious plans was revealed at the Eurocities Cinference in Munich last week, and it is also in this city that the BMW plans to implement the first streetlights next year.
The company said that they will add two of these streetlights in Munich next year as sort of a trial run.
Speaking on the subject at the conference, Peter Schwarzenbauer, a member of BMW’s Board of Management, said that we need to implement a proper charging infrastructure if we want to fully benefit from electric cars.
And right he is. If this technology can get a foothold in the world, there is no doubt that it would make it a helluva lot easier for people to drive their electric cars and hopefully encourage others to use lactic or hybrid cars too.


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December 11, 2015 - BBVA Compass, eCredable team up to offer
credit cards to ‘credit invisible’ clients
April 7, 2015 - South Pacific Financial Corporation and eCredable Team Up to Help Consumers without Traditional Credit Scores Apply for FHA Loans.
June 3, 2014 - eCredable, a credit reporting agency that helps consumers prove their creditworthiness to potential creditors, today announced a new addition to the eCredable Advisory Board, comprised of leading educators, consumer advocates, banking, and credit industry experts.
September 18, 2013 - eCredable, a credit reporting agency that helps consumers prove their creditworthiness to potential creditors, and Catholic Charities Atlanta, are working together to help consumers who are trying to improve their financial lives.
January 08, 2013 - eCredable was singled out as one of the top 10 big ideas for banking in 2013. American Banker publishes a list of the top 10 big ideas every year, and is widely regarded as a source of thought leadership for the banking and credit union community.
November 20, 2012 - eCredable, an alternative credit reporting agency that helps consumers prove their creditworthiness to potential creditors, today announced that Susan Cataldo, Chief Compliance Officer, has been recognized by the National Credit Reporting Association (NCRA) as a 2012 Board Member of the Year for her role as Co-Chair of the NCRA Education and Compliance Committee.
September 19, 2011 - eCredable today announced it has received the endorsement of Julie Stav, the U.S.’s leading Hispanic-American financial guru and planner, bestselling author, and host of an acclaimed daily call-in radio show. Julie speaks to the millions of women and U.S. Hispanics who struggle to prove they are creditworthy and good customers. The eCredable AMP Credit Report® is a credit report that includes verified regular bills that prove you pay your bills on time.
August 11, 2011 - eCredable, an alternative credit service that helps consumers prove their creditworthiness to potential creditors, today announced Dave Ramsey, the best-selling author, and notable radio and TV personality on the subject of Living Debt Free, has endorsed the service.
August 09, 2011 - Churchill Mortgage, a leader in the mortgage industry providing conventional, FHA and VA residential mortgages across 25 states, today announced it has partnered with eCredable as part of its continued commitment to provide the right loan product for each borrower. Leveraging eCredable’s online service, Churchill Mortgage will have access to alternative credit information like rent, utilities and insurance bills, to gain a better understanding of consumers’ creditworthiness and better match borrowers to appropriate loan products.
July 28, 2011 - eCredable, today announced the creation of the eCredable Advisory Board, comprised of eight leading consumer advocates, banking and credit industry experts.
July 13, 2011 - eCredable announced today it has launched new web-based services that give consumers the power to establish creditworthiness with potential creditors, service providers or employers. At www.eCredable.com, consumers use their payment history not considered in traditional credit ratings and reports to establish a credit rating and create a credit report to reflect responsible payment behavior overlooked by traditional credit bureaus.


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Banana farmers in the district have started showing much interest in the cultivation of the ‘Grand naine' variety following its popularity as a delicious fruit.
The high-yielding Grand naine variety was introduced to India from Israel seven years ago. But the farmers were reluctant to promote it as they were wary of its acceptance by the consumers. As time passed, they saw the variety as a successful commercial crop.
The demand for the Grand naine bananas is steadily growing in the markets and the farmers are gearing up to meet it, said V. Ajikumar, superintendent of the district panchayat's Kottukkal Farm.
Grand naine in French means “large dwarf” and true to its name, this variety is not very tall but produces bunches that is almost three-fourths its size with each having more than 200 fruits.
Grand naine banana bunches while on the plant closely resembles the Robusta bananas in size and colour. But when they ripen they turn yellow.
Mr. Ajikumar said the Grand naine bananas have a shelf life which is much longer than the Robusta. While the latter tend to drop from the bunch in two to three days after ripening, the former stay intact on the bunch for more than two weeks after ripening, maintaining their peculiar aroma and taste. It is this quality of the Grand naine which has made them appealing to farmers, markets and consumers.
Agricultural officer Hareendranath said that during the Onam season the bananas fetched Rs.16 a kg for the farmer. With prices of all banana varieties falling now, farmers now sell Grand naines for Rs.10 a kg.


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Early harvest numbers for Pioneer Aquamax
New Pioneer brand Optimum Aquamax products from DuPont Pioneer demonstrated a significant yield advantage in the second year of on-farm evaluations in North America during unprecedented drought conditions.
On more than 4,000 side-by-side comparisons with competitive products, preliminary 2012 yield data from Pioneer shows an advantage of more than 8 percent with Optimum Aquamax products in water-limited environments and almost a 2 percent yield advantage in favorable growing environments at locations harvested as of Sept. 27, 2012.
Across the past two growing seasons among more than 12,600 comparisons, Optimum Aquamax hybrids have shown a 7.6 percent yield advantage in water-limited environments and a 2.7 percent yield advantage in favorable growing conditions.
Over the past two years, Pioneer has released 25 Optimum Aquamax products onto the market and expects to increase that number for the 2013 growing season.
Pioneer researchers use native genes from a wide background of maize genetics to help improve drought tolerance within Optimum Aquamax products. Because drought is a complex challenge, many genes are involved in a plant’s ability to tolerate hot, dry conditions. Growers who had Aquamax products noticed increased plant staygreen, less leaf rolling and firing and improved root mass.
These comparisons by DuPont Pioneer are with hybrids other than those being promoted as new limited water use hybrids by competitive companies. How the different seed companies’ limited water use hybrids compared with each other in 2012 has not been announced by any of the companies.
- New platform to simplify inventory and fertilizer sales
- Cheminova’s dimethoate 4E receives 2(EE) recommendation
- Ag markets proved rather volatile again Thursday
- Potential impact of climate change on rangeland plants
- Ag markets proved decidedly mixed again Thursday morning
- Economy, job market reaps benefits from RFS
- Commentary: Blame anti-GMO groups for deaths
- Julie Borlaug says biotech is necessary in fight against hunger
- What does “sustainable” food and agriculture really mean?
- Ohio bill to require certification to apply fertilizer
- FCC aims to offer high-speed internet to rural America
- Carbon-dioxide hurts nitrogen assimilation by plants


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Changes coming to White Star Market
The owners of Chow Yum Phat in Mid City's White Star Market are unveiling a new concept called Yuzu at the current location of the Asian eatery, with plans to open in early December.
Jordan Ramirez, who runs Chow Yum Phat alongside Vu Le, said Chow Yum Phat is moving into the space formerly occupied by Jolie Pearl Oyster Bar, which has closed its White Star location.
The new vendor, Yuzu, will serve up a variety of fresh dishes, including sushi, poke and possibly things like ceviche, Ramirez said. It will also feature a grab-and-go cooler with fresh items.
"When White Star Market first opened, we always thought that would be a good concept to add to the market if (space) became available," he said.
Chow Yum Phat will be moved to the new spot by Friday, Ramirez said, in time for the annual White Light Night festival in Mid City.
Parish Brewing opens its reserves
This might be something of an early Black Friday for Louisiana beer fans. Parish Brewing Company on Saturday, Nov. 17, is hosting its Reserves Release Day, with sales of special releases made by the Broussard brewery. Starting at 11 a.m., Parish will release 2018 editions of its Grand Reserve (a barleywine), Imperial Reserve (an imperial stout) and Abbey Reserve (a Belgian quadrupel). Each 750-milliliter bottle is $15 and there's a 4-bottle per person limit.
Parish will also sell 16-ounce can four-packs of its double dry-hopped Ghost in the Machine ($23 per pack, $138 for a case) and 32-ounce crowlers of its toasted coconut Rêve Coffee Stout ($16 per crowler). And special Ghost in the Machine glassware will be for sale along with past Reserve releases.
The Parish Reserves Release sale runs 11 a.m. to 5 p.m. Saturday at the brewery, 229 Jared Drive, Broussard. (337) 330-8601; parishbeer.com.
After more than three years of teasing (and let's be honest, it's felt longer than that), Ichiban Japanese Grill & Sushi Bar in Gonzales is finally open. The restaurant is currently in a soft opening phase. Ichiban is located at 217 N. Airline Highway, Gonzales. (225) 647-2266; facebook.com/ichibangonzales.
Lit Pizza will open its new location at Bluebonnet Boulevard and Highland Drive on Thursday. The first 100 people in line will get a shot at some prizes, the pizzeria said on Facebook. The location will be open 11 a.m. to 10 p.m. daily. More information about Lit can be found at lit.pizza.
Street Breads has closed its Perkins Road overpass location. The Lake Charles-originated business opened the restaurant in 2012 and had expanded to a third location on Bluebonnet Boulevard, which was not successful and closed.
Sam Karlin contributed to this report.
Leftovers is a food and restaurant news column. Have a tip? Send it to email@example.com.


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Environmental groups have targeted disposable drinking straws — that are not recyclable or compostable — for extinction. The ultimate goal: Prevent non-degradable plastic straws from polluting our beaches, waterways and oceans.
It’s estimated that by the year 2050, there will be more plastic in the oceans than fish.
With so many other pollution problems, why straws?
“Straws are an easy thing for everybody to get started on when approaching the enormous issue of plastic pollution,” said Diana Lofflin, founder of StrawFree.org, an environmental group based in southern California.
Lofflin said she realized something had to be done after seeing the video of a Costa Rican team removing a straw from a turtle’s nose.
“We’re seeing more plastic in our waterways and one of the most common items we find is straws,” she said. “In fact, it's one of the top 10 items that are picked up at beach cleanups. It’s estimated that by the year 2050, there will be more plastic in the oceans than fish.”
A Growing Movement
Lawmakers in Los Angeles, Davis, Malibu and San Luis Obispo, Calif.; Miami Beach and Fort Myers Beach, Fla.; and Seattle, have passed ordinances that limit or prohibit restaurants from using plastic straws.
A ban on plastic straws for commercial use took effect in Fort Myers Beach in February. The town’s environmental specialists, who patrol the beaches, report seeing fewer straws in the sand, and most of the ones they do find are biodegradable, Town Manager Roger Hernstadt told NBC News BETTER.
The ordinance does create penalties: $100 for a first offense, $500 for three or more citations within a year, but Hernstadt hopes education and warnings will be all that’s needed.
“I think all the folks here understand that an attractive beach is important for them being able to draw customers, and this effort is part of making it desirable for people to come here,” he said.
We realize that the little things we do have a big effect on the natural world.
Malibu already bans the commercial use of plastic shopping bags and polystyrene food containers. A new city ordinance takes effect in June that adds plastic straws, stirrers and cutlery to the list.
“I think this was driven by the fact that these plastic items don't biodegrade,” said Malibu Mayor Rick Mullen. “They may break down in size, but the actual plastic stays in the ecosystem and people are getting conscious about that all over the world.”
Most restaurant owners support the ban, Mayor Mullen said, although some worry it will drive up their cost of doing business.
“Most people here in Malibu are not fanatical environmentalists by any stretch of the imagination,” but it’s part of the city’s mission to “preserve the natural beauty and take care of the environment as much as possible,” Mullen said. “We realize that the little things we do have a big effect on the natural world.”
Assemblyman Ian Calderon (D-Whittier), majority leader of the California legislature, has introduced a bill that would require all restaurants in the state that serve food eaten on site to provide plastic straws only when requested by the customer.
Calderon insists his bill, AB-1884, is not a ban on plastic straws. “It is a small step towards curbing our reliance on these convenience products, which will hopefully contribute to a change in consumer attitudes and usage,” he said in a statement.
The Industry Pushback: Plastic Isn’t the Problem
The plastics industry acknowledges that waste management and marine debris are serious issues that require a real and lasting solution. But it would like to see the focus be on proper disposal and greater recycling, rather than banning certain products.
“People should have the option to use products that fit their lifestyle, but it’s everyone’s responsibility to make sure these items are disposed of in a way that maximizes their value and ensures that they don’t end up where they shouldn’t,” said Ashley Stoney, director of communications for the Plastics Industry Association, in an email.
Steve Russell, vice president of plastics for the American Chemistry Council, said the industry is working on new technologies that will allow “every piece of post-use plastics” to be recycled or remade into raw materials for new products.
“We should all do our part to reduce waste by using reusable items when we can and declining straws or utensils when we don’t need them,” Russell said in a statement. “We should also keep in mind that protecting our health and hygiene is an important reason products such as straws and carryout utensils are designed to be used just once. These items often are made with plastics, because being both strong and lightweight; plastics often do a better job, with lower environmental impacts, than alternatives.”
Strawless in Seattle
This summer, Seattle will ban the commercial use of plastic straws, plastic stir sticks and plastic utensils. Starting July 1, any business that serves food or beverages will need to provide compostable alternatives.
“It's great to have things diverted from garbage into the compost stream, which is what we're pushing with this,” said Becca Fong with Seattle Public Utilities. “It’s also a really good way to raise consumer awareness, to get people to think about prevention: Do they really need that straw or all of those utensils if they’re getting food to go and taking it home to eat?”
Single use plastics are pervasive in our everyday life — it's everywhere and very little of it is recyclable. We have this unnecessary waste product becoming fish food.
Several hundred retailers made the switch in November as part of the “Strawless in Seattle” campaign, organized by Dune Ives, executive director of The Lonely Whale Foundation.
“Single use plastics are pervasive in our everyday life — it's everywhere and very little of it is recyclable. We have this unnecessary waste product becoming fish food,” Ives said. “We wanted to wake people up and make them feel really powerful, that something they did would make a difference.”
As part of its commitment to sustainable products, Seattle’s Safeco Field, home of the Mariners, does not use plastic straws, stir sticks or utensils. The ballpark won Major League Baseball’s the 2017 “Green Glove Award” for its recycling efforts. Only four percent of the waste generated there goes to the landfill, the rest is recycled or composted.
“It was a fairly invisible kind of a change for us and it didn't affect us operationally,” said Rebecca Hale, director of public information for the Mariners. “I don't think that a lot of people even realize that the straws and the knives and the forks and all of that are going into the compost stream.”
Basically what we are asking you to do is DO LESS: less consumption, less waste, less straws.
Hale admits that first-generation compostable utensils had some problems. For instance, spoons would melt in hot soup. But current products perform just like the non-sustainable items they replace, she said.
What Can I Do?
The environmental group The Last Plastic Straw suggests:
- Request “no straw” at bars and restaurants.
- Encourage your favorite eateries to only provide straws on request and to use compostable or reusable options to the plastic straw.
- Share your commitment with others.
“Basically what we are asking you to do is DO LESS: less consumption, less waste, less straws,” the site says.
- The Be Straw Free campaign, run by the nonprofit recycler eco-cycle, has information for businesses that serve straws and consumer who use them, as well as the Straw Free Pledge.
- StrawFree.org sells eco-friendly bamboo straws on its website. Each one is hand-cut from locally harvested bamboo that would otherwise go to the landfill.
- Strawless Ocean, an initiative powered by Lonely Whale, has links to alternative straws and ways you can share your passion for environmental responsibility.
CORRECTION (April 22, 2018, 4:52 p.m. ET): An earlier version of this article included an incorrect statistic, attributed to the National Park Service, that Americans throw away 500 million drinking straws a day, or 1.6 a day per person. That figure, which has since been debunked in several publications, originally came from the environmental group Be Straw Free, and does not appear to have been based on serious research. There does not appear to be any reliable figure on how many straws are used per day or per year.


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SAN FRANCISCO (MarketWatch) -- Nissan North America NSANY, -0.31% reported a record month of U.S. sales in July for a total 107,300 Nissan and Infiniti vehicles -- a 19% increase over last year for the best month in the group's history. Nissan-badged vehicles rose almost 21% to 93,905 while Infiniti sales increased more 13% to 13,395 units.
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“Rich Karlgaard writing Monday at Forbes.com on Facebook’s disappointing IPO:
1. Too late. Facebook’s shares have been dead in the water for the last 12 months. Private investors had already bid up Facebook to a $100 billion value a year ago.
2. Mark Zuckerberg’s disdain for investors. He never wanted to be a public company. This became all too obvious during the IPO road show’s crucial stop in New York when (a) Zuck hid out in the bathroom and forced the audience to wait, and (2) he took the stage wearing his hoodie. Zuckerberg’s view of shareholders is like President Obama’s view of blue collar workers. He needs them but secretly laughs at them.
3. Facebook left nothing for the common investor. The insider pig pile of PE firms and celebrity Silicon Valley angels took it all. This is a rather new, post-Sarbanes-Oxley fact and it should make Americans very, very angry. When Microsoft went public in 1986, its market value was $780 million. Microsoft’s market value would rise more than 700 times in the next 13 years. Bill Gates made millionaires of thousands of ordinary public investors. When Google went public in 2004 at a $23 billion valuation, it left less on the table for you and me. Still, if you had invested in Google then and held your stock, you would be sitting atop a 9x return. Zuckerberg and his Facebook friends took it all. . . .
4. Europe and May. Facebook’s shares debuted in a cloudy market. Beyond Europe in 2012, May is a bad time to go public. For the past several decades, nearly all of the stock market’s gains have occurred between October and May. The canard “Sell in May and go away” turns out to be true.
5. Facebook boredom, particularly among professionals. The company says it is zeroing in on a billion members. Good for Facebook, but what I would like to know is how many Facebook users have grown bored. I have not visited my Facebook page in two months. Almost every professional person I talk to who is over 25 years old has grown bored with Facebook.
6. Facebook is not necessary. Investing in tech companies is never easy. The great Warren Buffett eschews it. The key question about tech companies is not P/E values, but necessity. I like Google, Intel, Cisco, IBM, Oracle, EMC and SAP because the world’s economy depends on them. Sure, we could live without them, but not without major disruption. . . . Facebook is not integral to the global economy and its cool brand is rapidly fading.
7. Mass social media is a crock. It is an inherent contradiction. This is why I like LinkedIn more than Facebook. It has a special purpose and therefore doesn’t feel like a time waster. FWIW, I predict the next huge win in social media will be in health care.
A version of this article appeared May 22, 2012, on page A17 in the U.S. edition of The Wall Street Journal, with the headline: Notable & Quotable.”
Well said IMO. People express concern about identity theft and government intrusion in privacy (read the article in the April 2012 WIRED Magazine on the ginormous NSA data center) but share every tidbit of their lives on Facebook. I find using FB informative in some respects, most notably keeping in touch with a WWII veterans group, but can FB on the whole be productive, revenue producing, and relevant? Time will tell (probably rather quickly in this information age).
- Facebook IPO underscores shutting out the masses (sfgate.com)
- Mark Zuckerberg isn’t embarrassed by Facebook’s IPO (betanews.com)
- Facebook ‘likes’ Zuckerberg’s wedding a lot more than his IPO (digitallife.today.msnbc.msn.com)
- Facebook IPO Fallout: Four Lessons From a Rocky Public Debut (business.time.com)
- Facebook stock hits new low in third outing (news.cnet.com)
[This is my Positive Outlook journal for today. Despite the negative tone this is communication and sharing, for which I am grateful.
THE HAPPY SECRET TO BETTER WORK