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July 5, 2019
Pocket.watch has launched a new animated series and licensing property from “The Fairly OddParents” creator Butch Hartman.
Based on YouTube creators, “HobbyKidsTV” the show will premiere on their the HollyKidsTV YouTube channel on June 22. The series will then be leveraged for licensing deals across the consumer products space. Current licensing agreements for the series include:
Toys and novelties from Just Play;
Apparel from The Bentex Group;
Bedding and room décor from Franco Manufacturing and
Pajamas from Bioworld.
HobbyKidsTV is one of the largest kids and family channels on YouTube. Over the channel’s lifetime, it has received more than 7.5 billion views. The creators’ new cartoon will follow the three Hobby brothers as they use fun, food and inventions to triumph over their arch enemies “the Slobby Kids.”
Each of the new products inspired by the series will be exclusively sold at Walmart and supported by a promotional partnership with Carl’s Jr. and Hardees (CKE). The Carl’s Jr. collaboration will come in the form of a dedicated HobbyKids Adventures Star Pals kids’ meal sold at the fast food chain’s nationwide restaurants.
“We were thrilled when the HobbyKids family signed on as Pocket.watch’s first creator partner back in 2017, and we immediately started brainstorming around ways we could work with them to build them into a true global franchise leveraging their obvious and palpable appeal,” says Chris M. Williams, founder and chief executive officer, Pocket.watch. “With the launch of the series, and the amazing partnerships with Walmart and CKE, we are excited to once again be bringing kids and families more of what they love through expansions of their favorite creator brands.”
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Google released YouTube for Android TV was released almost six years ago, in August 2015, with one glaring omission from the point of view of many users: lack of playback speed control.
Since then, there have been over thirty update releases and the feature was still missing – no slowdown if you want to capture all the details of a scene in slow motion, no speedup for videos with endless monologues or unacceptable scenes.
Now Google has begun rolling out the long-awaited YouTube update for Android TVs and Chromecast with Google TV. You don’t need to install anything on your own, the update is done on the server side.
Speed controls are available in the secondary menu when playing a video. Users are prompted to select 0.25x, 0.5x, normal playback speed, 1.25x, 1.5x, and 2x. Unlike smartphones, there are no 0.75x and 1.75x options, but even so, it’s almost a miracle.
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Economists are currently trying to determine the shape of the global economy’s exit from the slump caused by the lockdown due to the pandemic — whether the path to the “new normal” will resemble the letter “U” or “V”. Various institutions, consulting firms and industry associations are trying to identify the sectors that will rebound from the shock the fastest and will be able to benefit from the post-pandemic economy. Meanwhile, business angels and venture capital fund (VC) managers are investing money in selected start-ups. They are guided by their own experience, as well as the opinions of experts. “Since the beginning of the crisis, we have been incredibly busy,” said Jan Hammer, a partner at Index Ventures, in an interview with the Financial Times. He added that managers were devoting all of their time to entrepreneurs and were available 24 hours a day, 7 days a week.
The pandemic changed relatively little in the value of investments pursued by VCs in the United States and Europe in the Q1’20 compared with the same period of last year. However, significant declines occurred in Asia, which was the first region affected by the COVID-19 pandemic.
According to data contained in the report entitled “MoneyTree Report Q1 2020”, published by PwC and CB Insights, in the first three months of the year VCs invested a total of nearly USD51bn in start-ups, that is approximately 10 per cent less than the year before. This decline was primarily due to changes occurring in Asia, where the value of investments decreased by 20 per cent, to USD16bn.
The number of transactions in North America decreased by 17 per cent. This decline was consistent with a broader trend observed over the past year, but there was a sharp decrease in the number of transactions involving start-ups at the seed stage. In Asia, the number of transactions decreased by more than 20 per cent, and in Europe by 10 per cent. The research firm CB Insights stated in the comments on the report that “the true picture of VC investment activity in America and Europe will be seen in the Q2’20, and the Asian experience may indicate what will happen”.
Based on the experiences of the 2007-2009 crisis, it can be expected that the decrease in investments will primarily affect start-ups in the early stages of development — the seed stage and the so-called series A and B funding rounds — while the selection of candidates for financing will be much more stringent than in recent years. The number of investors will also decrease. Such activities will be suspended — at least temporarily — by the asset management companies, which have thus far been seeking profits by participating in the late stages of financing (series C funding rounds and beyond).
“COVID-19 has put a sudden halt on fast money and ‘FOMO’ investing, forcing the VC industry to slow down, resist the inclination to follow the crowd, and refocus on more robust due diligence and analysis. Thesis-driven investors will be able to take the time to spend a month or two (or three) to really get to know the team, understand the business model, capital structure, and the market before closing a deal,” says Sean Park, the chief investment officer and co-founder of Anthemis Group, a VC fund management company operating since 2008.
Interesting observations were made in the first weeks of economic shutdown in the United Kingdom. Between March and April 2020, a total of GBP663m (USD825mn) was invested in start-ups (34 per cent more than the same time last year). The investors decided to provide additional funds to the investments which were the most promising in their opinion. The financed start-ups primarily included fintech companies, companies exploring the practical applications of artificial intelligence and blockchain technologies, as well as entities operating in the field of cybersecurity. Among the companies that raised new funds, there were relatively few entities that received financing for the first time.
Some start-ups are not doing well
We should keep in mind that the decision-making processes related to the funding rounds completed in recent weeks and months began before the outbreak of the pandemic. However, the finalization of the funding rounds, in the case of transactions completed in March, April and May, means that the VC managers see the potential of these companies in the post-pandemic economy. If this had not been the case, the negotiations would have been suspended or terminated.
According to global research conducted in March and April by the company Start-up Genome, among the start-ups that sought financing before the pandemic and agreed on its conditions with the investors, approximately 28 per cent were not able to secure the funds in the end. A further 44 per cent of start-ups indicated in the study that the process of raising funds slowed down.
The group of start-ups which suffered after investors suspended talks on the next round of funding includes, among others, the company Booksy, which originates from Poland. “In March, everyone said: We like Booksy, but we’ll have to see how the shutdown of services will affect the industry and the company itself,” said Stefan Batory, the president and co-founder of the start-up.
The company, which operates in the United States, United Kingdom, and also in Poland, offers an application that enables customers to book a visit, among others, in hair and beauty salons. It also provides a platform for the owners of such establishments that allows them to manage their bookings, deliveries and billings. In the three previous rounds of financing the company raised almost USD50m. In order to survive, it has to dramatically cut its costs, laying off 150 workers, including dozens in Poland. “There is no guarantee that the company will be able to conduct another round of funding in the next year or two. Until the situation in the global economy stabilizes, access to the capital markets will be limited,” admitted Stefan Batory.
And some are doing quite well
The funding constraints mentioned by Batory have not affected start-ups such as: BioCatch, Awak Security, Brain Box, Codota, Edited, FarEye, ForgeRock, Granulate, Rome Therapeutics, H1 and Kebotix. Their names don’t mean much to the broader public, but they all have one thing in common: the use of artificial intelligence technologies in various areas of activity. According to data presented by CB Insight, in the first quarter of this year start-ups involved in artificial intelligence (AI) technologies raised a total of USD8.4bn.
Kebotix (it raised USD11.5m in series A round) is actively pursuing the use of AI and robotics in processes related to the development of new chemicals. Brainbox AI uses artificial intelligence technologies to optimize the operation of heating, ventilation, and air conditioning (HVAC) systems (it raised USD8.6m in series A round). FarEye, whose clients include Domino’s, Walmart, Amway, 7-Eleven, DHL, and Lithuania Post, raised USD25m in series D round. This start-up uses AI in logistics. It organizes and tracks logistics operations with automatic shipments and allocation of orders, electronic confirmation of deliveries, predictions of delays, as well as the optimization of delivery routes, which reduces route length and increases fleet efficiency. All of this is done based on factors such as traffic, weather, and detours.
VCs also invested in start-ups applying AI in the area of cybersecurity. ForgeRock, which built an artificial intelligence-based digital access and identification management system used by companies such as Philips, BBC, BMW, and Deloitte, raised nearly USD100m in series E round. Smaller amounts of financing were obtained by Awake Security, which uses AI technologies to identify unusual network activity and to detect cyberthreats on this basis (the company raised USD36m in series C funding round), and by Randori, which has harnessed AI and machine learning technologies in solutions used to protect against cyberattacks, including attacks on Internet-of-Things (IoT) devices (the company raised USD20m in series A round).
Fintech companies using AI technologies also obtained new funding over the past months. Everee, which offers payroll management systems for companies, finalized series A round worth USD10m in the second half of April. An advantage of its systems is their flexibility, which allows an employee to choose whether they prefer to receive their payment on a daily or weekly basis, as well as in advance or in arrears, with no effect on the liquidity of the company utilizing this solution. The same amount was raised by Bodhal, which uses AI to optimize the expenditures incurred by companies on legal services.
Fintech companies, like the AI start-ups, already recorded a growing inflow of funds in the past year. The pandemic has only accelerated this trend, as consumers and businesses are now looking for contactless payment methods and new ways of using financial services, which do not require a visit at the bank branches or brokerage offices.
According to PitchBook, a company that specializes in collecting data on enterprises, in the Q1’20 North American and European fintech companies raised USD2bn (the funding raised in the whole of 2019 was USD5.2bn), which is more than in all of 2015 and 2016. The Q2 could be just as good as the first one, among other things, thanks to the so-called mega-rounds or rounds of funding worth at least USD100m.
In May, Robinhood Markets, which offers online brokerage services, raised USD280m in series F funding round, while the company’s valuation reached USD8.3bn. Also in May, the online bank N26 raised an additional USD100m as part of series D round. In April, the company Stripe, whose solutions enable businesses to receive online payments and to issue invoices to customers, raised USD600m in series G round, while the company’s valuation reached USD36bn.
In April, money from the investors also flowed to start-ups improving co-working and remote work solutions, such as Slite, which is developing document sharing solutions. EnginZyme is an interesting example of a company that raised financing in series A round during the pandemic. This start-up is developing technologies enabling the production of environmentally friendly materials that could provide a cost-efficient alternative to rubber or plastics such as nylon.
The pandemic did not stop the funding rounds of start-ups operating in the broadly defined medical industry. Vida Health raised USD25m in series D round for the development of a platform that allows chronically ill people to remotely contact their nurses, trainers, therapists, and nutritionists. Robocath, a start-up working on robots used in vascular surgery, raised USD43m in series C round. The company Compass Pathways, which focuses on the treatment of depression, raised USD80m in series B round, while Erasca, a company that works on anti-cancer therapies utilizing AI, raised up to USD200m in series B round.
Start-ups operating in other areas were also able to raise funds. Vast Data raised USD100m in series C round, while its valuation reached USD1.2bn, which is three times more than in February 2019 during the previous round of financing. The company is involved in the development of high-speed data storage systems used by both companies and scientists for artificial intelligence solutions and machine learning process.
Many commentators believe that the drops in oil prices could delay mass-scale introduction of electric vehicles to the market. Despite this, the company FreeWire, which developed an ultra-fast battery charging technology using mobile charging stations, did not have any problem with raising USD25m in series B round. Meanwhile, Amply Power, which specializes in solutions used in the charging of batteries in fleets of electric buses, trucks, and passenger vehicles, raised USD13.2m in series A round.


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Don't miss the latest stories
Nike Elegantly Says Goodbye To Kobe Bryant In Tear-Jerking ‘Mamba Forever’ Clip
By Izza Sofia, 25 Feb 2020
Nike has released a stirring tribute in honor of Los Angeles Lakers legend Kobe Bryant.
The ad was shared before the late basketball player’s public memorial at the Staples Center, and took on a minimalist approach to highlight Bryant’s tremendous career.
The two-minute simple visual featured a black screen while messages and numbers flashed on the screen. Text included “Forever,” “Philly Kid”—to highlight Bryant’s childhood roots—and the number of years that he won the NBA championship.
In the background, the ad played audio and media coverage that complimented Bryant as a great basketball player. Aside from referencing his 81-point game against the Toronto Raptors and five NBA titles, the clip also highlighted Bryant as a great father and husband.
The heart-wrenching video ended with the words, “Mamba Forever.”
Mamba Forever.— Nike (@Nike) February 24, 2020
(sound on) pic.twitter.com/B2LUIcpRCc
[via CNN, opening image via Nike]
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Hili port users on strike to realise 3-point demand
Activities at Hili land port remained suspended for the second day yesterday due to an indefinite strike enforced by the port users to press home their three-point demand.
Hili Land port C & F Agent Association, Customs Association, Truck Operators Association, Truck Driver Association and workers Federation went on the strike on Wednesday to press for the demands.
The demands are putting an end to giving seal on the manifest of imported goods, harassment by members of Border Guard Bangladesh (BGB), and filing of cases by BGB without informing the C&F agents and importers.
The port users said they will continue strike until their demands are met. Around 3,000 workers at the port have become jobless as loading and unloading of goods have remained suspended since Wednesday morning.
Around 500 goods-laden trucks got stranded inside the Indian territory as these were not allowed to enter Bangladesh through Hili land port due to the strike.
According to the customs official, the strike is causing a loss one crore in revenue each day.
Leaders and members of the five associations yesterday formed a human chain in front of the customs office in port area for an hour from 11:00am, demanded removal of the commanding officer [CO] of Joypurhat BGB-3 Battalion.
Addressing a rally at the venue, leaders of the association alleged that the BGB commanding officer unilaterally introduced the system on April 27 to check the import documents in the name of security in the port area.
The system kills time and truckers and helpers are being harassed by BGB men at the time of checking documents, they said.


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DeAnne & Mark Stidham May Be Worth More Than They Say
The couple has allegedly used shell companies to hide assets.
The Amazon docuseries LuLaRich traces the rise and fall of LuLaRoe, the multi-level marketing company run by DeAnne and Mark Stidham. LuLaRoe promised thousands of (mostly female) consultants that they could make extra money from their homes by selling the brand’s colorful clothing — a dream that never came to fruition for many of them. But according to some of the “dozens” of lawsuits that have been filed against the couple, the Stidhams have gone on to live lavishly with a number of high-priced assets. Allegedly, they have also hidden assets from creditors in the past.
It’s difficult to pin down the Stidhams’ exact financials, but court documents do offer information about their assets. Below, everything to know about the LuLaRoe founders’ net worth.
The Stidhams have a troubled financial past.
Buzzfeed News reports that the Stidhams’ finances, especially Mark’s, have been “rocky” over the years. Fifteen tax liens have been filed against Mark, with and without DeAnne, in both Utah and California. In 2013, both Mark and DeAnne closed a state tax lien against them for $21,257, which had been pending for five years. The couple was hit with a $100,000 tax lien in 2015 by the IRS; they closed it later that year. In 2011, DeAnne was also sued by FIA Card Services for failing to pay a $7,500 credit card bill.
DeAnne officially launched LuLaRoe in 2013, and its success appears to have changed the Stidhams’ financial situation considerably. Spokespeople for LuLaRoe have refused to comment about the Stidhams’ net worth or assets.
Lawsuits offer clues to the Stidhams’ current assets.
The Stidhams and LuLaRoe have been sued dozens of times, including by their former supplier, MyDyer (aka Providence Industries). MyDyer’s lawsuit alleges that LuLaRoe owed the company over $33 million in unpaid invoices, and is seeking $49 million in damages. In 2018, MyDyer claimed that the Stidhams owned two homes — a ranch in Wyoming, reportedly worth more than $7 million, and a house in Corona, California — as well as several luxury cars (one of which is valued at $2.1 million), and a private jet, per Business Insider. Patrick Winget, who served as LuLaRoe’s chief merchandising officer from 2013 to 2018, submitted a declaration supporting these claims as a part of the suit. In court documents, LuLaRoe disputes MyDyer and Winget’s claims.
The lawsuit also claims that the Stidhams created 17 “shell entities” in 2017, which were allegedly used to hide assets like cars. LuLaRoe has countersued MyDyer for $1 billion. Mark said at the time of the suit, “There is no nefarious or improper purpose as to why these entities were formed and they have no relation to the lawsuits filed against LuLaRoe.” (A Providence Industries spokesperson called the Stidhams’ countersuit “outrageous.”)
Also contained in the MyDyer lawsuit is a quote from Mark. When contacted about paying MyDyer’s outstanding invoices, Mark is said to have replied, “Look guys, I am not going to pay you guys a f*cking dime unless the judge orders me to pay it, and DeAnne and I will take our two or three hundred million dollars to the Bahamas and f*ck everything.” So that may be a clue to the net worth the Stidhams actually have, in addition to their properties and assets — but the Stidhams deny ever saying it.


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British Airways says 185,000 more customers affected by second hack attack
Customers who made reward bookings between April and July thought to be at risk of earlier hack on the airline
An internal investigation into British Airway's September data breach has uncovered a second, earlier hack on the company's website.
The investigation revealed that customers who made reward bookings - booking linked with Avios reward currency - with a payment card between April 21 and 28 July 2018 could potentially be at risk.
The airline said that hackers may have stolen additional personal data that it had not previously notified its customers about and that a further 185,000 more customers could have potentially had their data compromised.
"The investigation has shown the hackers may have stolen additional personal data and we are notifying the holders of 77,000 payment cards, not previously notified, that the name, billing address, email address, card payment information, including card number, expiry date and CVV have potentially been compromised, and a further 108,000 without CVV," a BA spokesman said.
"The potentially impacted customers were those only making reward bookings between April 21 and July 28, 2018, and who used a payment card."
Since the airline confirmed the attack 6 September 2018, it has been working with specialist cyber forensic investigators and the National Crime Agency to investigate the incident.
"In what is rapidly becoming a bad week for international travellers following news of the Cathay Pacific breach, the fact that British Airways have now announced that a further 185,000 passengers may have been affected by a breach over a three-month period brings to the fore questions on how the travel and hospitality industry is effectively securing their network and customer data," said Rusty Carter, VP of product management at cyber security company Arxan Technologies.
"While the gap in [BA's] security may have been plugged back in September, it is concerning that this incident, which went on for a considerably longer period of time than the previous two-weeks, has only now been uncovered as part of an ongoing investigation by the airline, cyber forensic investigators and the National Crime Agency."
BA said it was "very sorry" that criminal activity had occurred on its website and that it will reimburse any customers who have suffered financial losses as a direct result of the data theft.
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Volkswagen reduces supply chain sustainability risk with AI
With a mission to develop an intelligent sustainability radar for the supply chain, Volkswagen, Porsche and Audi together are using artificial intelligence (AI) to identify sustainability risks in the supply chain, risks such as environmental pollution, human rights abuses and corruption at an early stage.
“We are meeting our responsibility for ensuring a sustainable and fair supply chain – we established sustainability criteria for our suppliers on a contractual basis as long ago as 2014. Since 2019, we have checked compliance with our standards as part of the award process. By partnering with Prewave, we now have another tool to uncover and investigate potential violations, thereby contributing to improved social and environmental conditions at our suppliers’ production sites,” commented Ullrich Gereke, Head of Procurement Strategy for the Volkswagen Group.
An intelligent sustainability radar for the supply chain
The new monitoring system, developed by Prewave is based on an intelligent algorithm. The technology is capable of identifying and analysing supplier-related news from publicly available media and social networks in over 50 languages in 150 countries.
“Prewave enables us to manage risks in a targeted manner – even in the lower-level supply chains. For us, this is about transparency. Artificial Intelligence simplifies the complex analysis of data, allowing us to address partners directly and request improvements in sustainability. The goal is to achieve this in partnership with suppliers. In the event of escalation, however, termination of business relations is certainly also an option”, commented Markus Wagner, Head of Procurement Strategy and Sustainability at Porsche AG.
If the technology flags any indication of a sustainability risk in the supply chain the automotive manufacturers are identified, allowing their procurement functions to look at the facts and consider countermeasures. The technology provides an early warning system for breaches in sustainability requirements, supplementing traditional compliant channels.
The pilot project began in October 2020, since then over 5,000 keywords have been analysed to monitor more than 4,000 suppliers.
“The key advantage of AI is the speed at which it can recognise relevant news online and transmit this in bundled form. This enables us to find out about sustainability risks much earlier on, so we can respond more quickly. AI is an ideal example of how digitalisation can contribute to greater transparency in the supply chain,” added Marco Philippi, Head of Procurement Strategy at Audi.
The White House Launches Supply Chain Task Force
The Biden Administration has released its 100-day supply chain assessment for semiconductor manufacturing and advanced packaging, large-capacity batteries, critical minerals and materials, and pharmaceuticals. After a year in which supply chains throughout the nation were decimated by the pandemic, the new task force intends to get the country back on track.
These measures come just in time. Semiconductor shortages have crippled the nation’s automotive manufacturers, and the new Innovation and Competition Act will strain ties between the U.S. and China. The United States needs to invest in resilient and secure supply chains, as well as help its manufacturing companies survive the pandemic.
What’s Happened Already?
Since February, the administration’s COVID-19 response team has vaccinated 137 million Americans, worked with semiconductor manufacturers, expanded rare earth element mining outside of China, and addressed supply chain cyber vulnerabilities. “Unfair trade practices by competitor nations, private- and public-sector prioritisation of low-cost labour and a focus on short-term returns over long-term investment have hollowed out the U.S. industrial base”, said the White House.
To address risks and vulnerabilities, the administration will also prioritise the following steps:
- Commit US$60mn to develop novel platform technologies to boost API production
- Develop a domestic lithium battery supply chain to combat the climate crisis
- Support manufacturers of advanced battery cells and packs with US$17bn in loans
- Invest nearly US$75bn in semiconductor manufacturing
- Give US$100mn in grants to state-led supply chain apprenticeship programmes
In addition, the White House recommended that the nation should establish a Supply Chain Resilience Programme backed by US$50bn in domestic supply chain investments.
An International Effort
Although the United States has recently doubled down on hardline stances against foreign trade competition—one need only look at its recent Senate bill—the scale of its supply chain transformation programme requires partnership. “Even as the U.S. makes investments to expand domestic production capacity for some critical products, we must work with allies to secure supplies of critical goods that we will not make in sufficient quantities at home”, the White House stated.
In the coming months, the U.S. will work with international allies such as the Quad and the G7 in order to diversify its networks, ensure human rights compliance, and source critical minerals and materials. And though the nation is aggressively investing in R&D and competitive technology, it wants to maintain its global trade ties. “U.S. investments abroad must incentivise environmentally and socially responsible production”, the administration wrote. “We must engage our partners to promote global resilience”.


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Microsoft shares upgraded to 'buy'
Merrill Lynch bases raise in rating on high sales, good word about products
Published 10:00 pm, Wednesday, July 2, 2003
Shares of Microsoft Corp., the world's biggest software maker, were upgraded to "buy" yesterday by Merrill Lynch & Co. analyst Jason Maynard, who raised his fiscal 2004 profit estimate and said Microsoft may boost its dividend.
Maynard, hired by Merrill in March, wrote to clients that he estimates Microsoft earned 24 cents in the quarter ended Monday, a 1-cent increase in his forecast. He raised his rating from "neutral" and put Microsoft on the Focus One list of Merrill's favorite stocks.
Higher personal-computer sales and "positive feedback" on products for server computers improved his opinion of Microsoft, Maynard wrote. The analyst raised his profit estimate for Microsoft to $1.09 a share from $1.04 for the year that began Monday. Tax changes may lead Microsoft to increase its dividend to as much as 26 cents a share from 8 cents, he wrote.
"It just validates what we've been hearing, such as from Intel, which said things are starting to pick up," said Brian Eisenbarth, who helps manage about $800 million at Davidson Investment Advisors, owner of 350,000 Microsoft shares.
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Shares of Redmond-based Microsoft rose 73 cents, or 2.79 percent, to $26.88 on the Nasdaq stock market. They had gained 1.2 percent this year, lagging the 12 percent increase in the Standard and Poor's 500 Index.
Maynard wrote that Merrill Lynch is seeking or will seek investment-banking business with Microsoft.


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Is a Toys"R"Us comeback possible? Could Toys"R"Us really be coming back? We all know that the company closed all 735 of its US stores and fired nearly 31,000 workers in June as part of a bankruptcy liquidation, after years of mismanagement that left it drowning in debt. For years, the company fell further and further behind big box retailers like Walmart, and lost out on online shopping to Amazon. Instead of investing in things like store upkeep and paying its employees well, company resources were devoted to paying off billions of dollars in debt.
But like a Phoenix rising from the ashes, Geoffrey the Giraffe may be returning.
While the company did liquidate its inventory of toys and sold off its other material assets, including stores and distribution centers, at the last minute, they pulled the rights to the actual brand names and other intellectual property from the auction block. Toys"R"Us had planned to auction off the rights to its brand and the Babies"R"Us brand. In fact, bidders had already made offers for them.
But the fact that other bidders were interested in buying the name doesn't necessarily mean that they were looking to bring Toys"R"Us back to life. It’s pretty common for companies to buy the brands of out-of-business competitors in bankruptcy court. The goal is to prevent rivals from using the brand. Details of who wanted to snap up the Toys"R"Us and Babies"R"Us brands were not disclosed in the bankruptcy filing.
But instead of selling the brand names, the group of funds that financed Toys"R"Us lenders during the bankruptcy is seeking to reorganize the intellectual property assets (brand name, trademarks, e-commerce website, etc.) into a new company that will maintain the current license agreements and can invest in new retail stores. These funds now control rights to the Toys"R"Us name and that of Babies“R”Us, because the intellectual property served as collateral on their loans. ,
A Toys"R"Us comeback is already being marketed. On Twitter, Geoffrey the Giraffe is shown clutching a suitcase, and the company says he’s simply been traveling the globe and is back and ready to play.
The company press release indicates the new venture won’t be the same old, same old. “In addition to continuing to service these markets, the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available.”
But it may be difficult to ramp up U.S. operations again due to the lengthy bankruptcy process. Major suppliers including Mattel Inc. and Hasbro Inc. have found new distributors, and customers have started buying their toys elsewhere.
To succeed, Toys"R"Us will need top-notch marketing, branding and management resources, particularly since some toymakers affected by its demise may be reluctant to ship. Take Mattel, for instance, which saw sales plunge and had to institute cost-cutting measures after the Toys"R"Us bankruptcy.
While Toys"R"Us stores may have closed and the inventory sold off, the brand name itself, combined with assets like Geoffrey, still have tremendous value. Generations of children, many of them now parents or grandparents, grew up with Toys"R"Us and would love to go shopping there again.
The first Toys"R"Us opened in 1957. Founder Charles Lazarus essentially created a supermarket for toys, with toys of all sorts stocked high on shelves. He named it Toys "R" Us — with a backwards "R" in the logo that was supposed to look like it was drawn by a kid. And boy, could kids relate.
And the kid in all of us remembers what fun it was to go into our local Toys"R"Us and see the newest toys, along with the classic standbys. We miss it. A small toy department at Walmart or Target just isn’t the same. You could spend hours at a Toys"R"Us, getting toys for all ages.
Toys"R"Us is dipping a toe into the water with the announcement that "Geoffrey's Toy Box" (under the recently formed Geoffrey LLC) will sell toys from its various private label brands in nearly 600 Kroger grocery stores in almost 30 states. The pop up shops have already opened, and will last throughout the holiday season.
Toys"R"Us is counting on nostalgia and impulse buying at the grocery store to make friends with parents and children again. The Geoffrey’s Toy Box pop up shops will sell toys from Toys"R"Us' former private labels, including Imaginarium, Edu Science, Animal Zone, Journey Girls, You & Me, and Just Like Home. And nothing will be outrageously expensive. All toys will cost between $19.99 and $49.99.
But there are dangers associated with a Toys"R"Us comeback that rides solely on brand. Many people associate happy childhood memories with Toys"R"Us. Any rebranding that alters that emotional connection could hamper a comeback. Rehiring laid off workers could go a long way toward good publicity in communities where stores may reopen. Failure to do right by former workers could prompt protests outside a new toy store, for example. That wouldn’t be good for Geoffrey’s image.
The demand for toy stores is certainly there. Just look at the competitors rushing in to fill the void left by Toys"R"Us closing. The new owner for KB Toys Inc., which used to be the second-largest U.S. toy seller before its own collapse in 2009, is planning 1,000 holiday pop-up stores under the name, while Amazon.com Inc. is introducing a holiday toy catalog.
So how can Toys"R"Us do it differently this time around? Can they create a new experience that makes every child want to be a Toys"R"Us kid?
An idea they had toyed with—pun intended—but didn’t have the financial resources to put fully into place was creating “play places” in stores, where kids could try out toys before persuading a parent to buy them. But what about turning the whole building into one giant play place? Say, for $15 an hour, your child can play with any toy that Toys"R"Us sells? Of course the clear goal would be getting you to buy the favorites online either from a kiosk in store, or online later.
If the Bankruptcy Court approves the plan, and the owners of Toys"R"Us are able to bring the company back to being a profitable enterprise, they will be creating a road map for other struggling retail brands such as Sears and JC Penney to save themselves.
The most important thing other struggling retailers can learn from this is to keep your brand. Your brand, intellectual property, such as trademarks and your e-commerce website can save your company. This gives a company options.
You can expect to see Toys"R"Us to do several things as they launch their comeback:
There are several ways they can win back dedicated fans who have started buying their toys elsewhere:
And Toys ‘R’ Us will have to provide an amazing customer experience to make customers fall in love with them again.
While getting once loyal customers to return to the brand, the Toys"R"Us comeback will also have to mount a campaign to attract new customers. We expect them to use that social media blitz to reward new Twitter followers, people who “like” and share their page on Facebook, and sharing all sorts of new content on their website—videos, product demos and much more.
Expect contests galore and marketing efforts that partner with established baby and kid product companies—diaper companies, kids’ TV and more.
Toys"R"Us will want to reach consumers where they spend time—TV commercials may target grandparents or kids’ TV shows. With so many millennials cutting the cord, TV commercials aren’t as effective for young parents or even middle aged parents.
Expect Toys"R"Us to utilize ever social media outlet the can—Facebook, Twitter, Instagram, Snapchat. And their website won’t just be an e-commerce site. Expect videos and product demos.
It will be interesting to see if the Toys"R"Us comeback succeeds. It’s possible to bring a brand back from the dead, but it requires using new technologies and ideas to bring the brand into the future.
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Herding cattle up the side of a mountain might seem like a lot of extra work, but for thousands of years, people have hauled their cows into the Alps to graze during the summer months. Why? It's all about great-tasting cheese.
Many big food companies are caught in a dilemma these days. They want to rebrand themselves as merchants of health — Coca-Cola's new anti-obesity ads are just the latest example — but many of their profits still come from products that make nutritionists scowl.
If there's one person who symbolizes this tension, it's Derek Yach.
In Colonial Virginia, oysters were plentiful; Capt. John Smith said they lay "thick as stones." But as the wild oyster harvest has shrunk, Weekend Edition food commentator Bonny Wolf says the market for farm-raised oysters is booming.
The local food movement is expanding from fertile fields to brackish waters.
Along the rivers and bays of the East Coast, where wild oysters have been decimated by man and nature, harvests of farm-raised oysters are increasing by double digits every year. At the same time, raw oyster bars are all the rage.


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MCS Industries, a Pennsylvania-based furniture maker, filed a sweeping lawsuit against two of the world’s largest shipping carriers on August 3, alleging profits, collusive behavior and a violation of the US Shipping Act. The accused shipping companies – the Chinese Cosco and the Swiss company Mediterranean Shipping Co. – have just filed their responses. Unsurprisingly, they didn’t apologize.
In its complaint to the Federal Maritime Commission (FMC), MCS claimed that several carriers refused to negotiate with it and that those who did, including Cosco and Mediterranean Shipping Co., “refused to supply more. a fraction of the freight capacity MCS requested. “
Then, MCS alleged, the two carriers “changed their practices in a parallel and apparently coordinated fashion, depriving MCS of its contractually agreed space allocations and instead selling their respective capacity – including the space actually allocated to MCS in under its service contracts and then withdrawn – to the highest bidder in the very cash market to which their conduct forced MCS to turn.
MCS alleged that in May-July Mediterranean Shipping Co. provided only 35% of the space required under the contracts and Cosco provided “an infinitesimal of 1.6%”.
Shortly after the complaint was filed, Mediterranean Shipping Co. issued a press release vigorously denying the allegations, stating that it was “examining whether … any of the allegations constituted defamation”. He filed his official response with the CMF on Thursday. Cosco filed its response on Monday.
Cosco did not mention the defamation, but he questioned whether MCS had committed perjury.
The carrier said that MCS’s “infinitesimal 1.6%” space allocation claim “is simply a lie. It is clear that this eye-catching claim about the service during the period May-July 2021 – which was repeated twice in MCS’s complaint, attested to under penalty of perjury by MCS and repeated in several media accounts – is a bogus statement of material fact. to the court.
The carrier stated that âMCS has not confirmed any reservations with [Cosco] during the month of June in all ports of origin usually used by MCS to present its containers to [Cosco] for transport and did not even use all the space offered and confirmed to MCS in July.
Cosco said MCS has signed a contract that runs from January 1, 2021 to April 30, 2022, for 500 units equivalent to twenty feet. Cosco said it had carried 92 TEUs for MCS until August, with eight months left in the contract, and that the contract did not include any monthly or quarterly transport requirements.
Mediterranean Shipping Co. stated in its filed response that it had a service contract with MCS as of May 1 and that “any failure to transport MCS goods was in accordance with the agreement … and attributable to failure to comply with MCS or other causes outside MSC control.
The Swiss carrier denied having deprived MCS of its allocation of space in order to sell it to the highest bidder. âMSC does not sell the allocated space before the prescribed deadline,â he said.
He called the allegation that he colluded with Cosco “absurd” and “completely and utterly false”.
Both operators blamed today’s service issues and record high prices on disruptions in the COVID era.
According to Cosco, âThe current congestionâ¦ and the challenges faced by carriers operating vessels to meet demand for capacity have been triggered by unprecedented and unforeseen record growth in US imports, coupled with COVID restrictions ashore. These unforeseen changes in world trade have exacerbated shipping delays and stretched every part of the domestic intermodal supply chain to the limit.
“[Cosco] did not lead to the precipitous decline of last year or the dramatic increase in demand this year, but both had an impact on available capacity [it] could bring to the market.
Mediterranean Shipping Co. has stated that it “has reasonably managed the unprecedented disruption in international shipping caused by a substantial increase in demand along with unprecedented port congestion effectively limiting vessel capacity and created substantial operational difficulties for carriers “.
He argued that the dispute should be resolved through New York arbitration, as specified in the ocean contract. Cosco also argued that the FMC lacked jurisdiction, calling the allegations of violation of the Merchant Shipping Act âfalseâ.
The outcome of this high profile conflict is far from known. The discovery process will take another five months. The CMF will make its initial decision by August 3, 2022, and its final decision is not due until February 17, 2023.
Source: Freight Waves by Greg Miller https://www.freightwaves.com/news/shipping-lines-come-out-swinging-in-high-profile-profiteering-case


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MicroBilt Announces the Launch of PRBC Mainstreet – Giving Businesses Access to 100 million New Customers
KENNESAW, GA, Sep 10, 2012
MicroBilt is excited to announce the launch of PRBC MainStreet, a new way to expand business and customer opportunities. Approximately 100 million Americans are excluded from the credit marketplace because they are underserved by the current credit...
Risk Verify Database receives PYMNTS.com award for revolutionizing ACH payments
KENNESAW, GA, Aug 16, 2012
MicroBilt has made its mark on the first ever PYMNTS.com Innovator Awards presentation, gaining recognition for Risk Verify Database (rVd), an innovative and revolutionary change to the ACH processing market. PYMNTS.com received over 130 entrants...
MicroBilt Expands Short Term Lending Talent Base With Prominent Industry Hires
KENNESAW, GA, Jul 22, 2012
MicroBilt has further cemented its role as the leading data and risk management source for short-term lenders, as two prominent experts in serving short-term lenders have joined the MicroBilt team. Specializing in both online and retail storefront...
MicroBilt announces Instant Bank Verification (IBV), has been integrated with Payday Loan Manager’s Loan Management System (LMS)
KENNESAW, GA, Jul 15, 2012
Today, MicroBilt Corporation announced that its revolutionary bank account verification tool, Instant Bank Verification (IBV), has been integrated with Payday Loan Manager’s Loan Management System (LMS). This partnership will give Payday Loan...
For credit scores, good behavior may be good for nothing. But it shouldn’t be that way.
KENNESAW, GA, Jul 10, 2012
Like so many elements of the post-recession financial system, credit scoring is past due for an overhaul. Think of it this way: As we approach the 2012 Summer Olympics, America’s best athletes are exactly the sort of people who could eat a lot...


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|Subscribe TI News Archive|
TI News: An information service from Office of Travel & Tourism Industries (OTTI)
June 30, 2010
U.S. Travel Abroad Declined Three Percent in 2009
Spending Down 12 Percent from 2008
The overall U.S. outbound market totaled 61.5 million in 2009, down three percent compared to 2008. Travel to overseas regions declined two percent, while travel to Mexico and Canada declined four percent and seven percent, respectively.
The top five countries in 2009, measured by U.S. visitation, were: Mexico (19.5 million), Canada (11.7 million), the United Kingdom (2.7 million), France (1.9 million) and Italy (1.8 million).
In 2009, U.S. travelers set records for travel to the regions of Central America, Africa and the Middle East, and to the countries of Greece, Dominican Republic, Israel and India.
Spending by U.S. residents traveling abroad (imports) totaled $99.2 billion, down 12 percent from 2008. Spending within foreign countries (travel payments) amounted to $73.2 billion, down eight percent, and spending on air transportation, via foreign air carriers (passenger fare payments), totaled $26.0 billion in 2009, down 20 percent. Top countries for U.S. spending included Mexico ($9.6 billion), the United Kingdom ($7.8 billion), Canada ($6.2 billion), Japan ($4.8 billion) and Germany ($4.6 billion).
For U.S. outbound tables, trend lines, profiles and analysis, please check this link: <https://travel.trade.gov/outreachpages/outbound.general_information.outbound_overview.html>.
U.S. Department of Commerce


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ISSAQUAH, Wash. (CBS.MW) -- Costco Wholesale Corp. on Thursday announced a profit of $129.3 million for first quarter 2000 and said that it has approved a 2-for-1 stock split.
Shares of Costco COST, -0.03% advanced 7/16 to 92 5/8 in midday trading.
For the 12 weeks ending Nov. 21, 1999, Costco, the bulk discount retailer, posted earnings of 56 cents per share, or $129.3 million, compared to 46 cents per share, or $104.2 million, in the year-ago period. A First Call survey of 23 brokers estimated first quarter 2000 earnings at 55 cents.
Costco also noted that sales for the first quarter of fiscal 2000 increased 16 percent to $6.8 billion from $5.9 billion during the first quarter of fiscal 1999. See press release.
Meanwhile, the retailer said that its shareholders of record on Dec. 24 would receive one additional share of stock for every share owned. The stock will begin trading at a post-split price on Jan. 14.
Costco currently operates 302 warehouses and plans to open 15 to 20 new warehouses before the end of fiscal 2000.


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Nemo Office Club member, Stationery Supplies in Marple and Wilmslow, was the proud recipient of the Independent Retailer of the Year award at the Boss Awards last week, adding to the Best Non-Specialist Independent Retailer of Greetings Cards North award picked up at the Retas awards the previous week.
“I am completely blown away by the awards” admits business owner, Sarah Laker, “my social media has been going mad recently with messages of congratulations – I am so lucky to be doing a job that I love and to have customers that share my passion for the shops.”
The Boss Awards comes with recognition of the efforts Sarah made to offer a COVID-19 safe environments over the past 20 months, demonstrating an ability to ‘Bounce-Back’ and having a positive influence within the community. The judges were hugely impressed by the way that Sarah had campaigned for High Street retailers on Radio 2, 4 and 5, as well as on BBC and ITV News and in the Mail on Sunday in addition to supporting her community.
“To me retail is about being part of a community,” Sarah explains, “if our local community is prospering and supportive of each other, that will rub off on the local businesses as well. I have always had a wonderful social media following and I used that over the pandemic to promote activity with live walkabouts the shop and highlighting actions taken to ensure the safety of our customers. I also shaved my head during lockdown to raise £7,500 for a local charity, that created huge amounts of interest in the shop and our role in the community!”
In addition to being proactive in the community of Marple, where she also produces a Marple calendar that has raised over £400 for charity, Sarah chose the pandemic and lockdown as a good time to open a second shop in neighbouring Wilmslow. “It seemed too good an opportunity to miss,” Sarah explains, “It gave me the opportunity to replicate what had been achieved in Marple. The timing could have been better, but I have had fantastic support from my suppliers and Nemo Office Club – So far so good as the Stationery Supplies brand and reputation continues to expand in the area.”
Sarah’s passion for retail has also been acknowledged by her dealer group, with Nemo Office Club Managing Director, Tim Beaumont commenting: “During lockdown we held many conversations and Zoom calls with our retail members and Sarah impressed us all with the way she was thinking about adapting her business, keeping herself, her family and her customers safe, even putting this first before sales and profit. Despite some challenging times she remained positive, motivated and an inspiration to us all, a fully deserving winner of the award.”


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The highly anticipated, shopping extravaganza held at Dolmen Mall annually began yesterday on December 22, 2014. In the wake of a national tragedy, the festival began witha tribute to the innocent lives lost in the recent Peshawar attackof December 16th.
The shopping festival was launched with a one minute silence observed in memory of the 149 children who departed for an eternal abode in the Peshawar school massacre. A special memory wall was placed inside the mall in remembrance where visitors and well-wishers can scribble down their thoughts and sentiments for the children and the teachers. The gold medal-winning Special Olympics Pakistan team had also been invited to the opening ceremony and they were requested to write on this wall.
The Dolmen Shopping Malls has three branches located across the city Karachi; Tariq Road, Hyderi and Clifton. The shopping extravaganza is a 16-day event where more than 50 brand partners with over 100 varied outlets are participating. Shoppers can look forwrad to various special offers, discounts and cash prizes and other attractive deals all over the city. There is also an array of exciting activities and mini events that will take place during the extravaganza.
The General Manager for Marketing at Dolmen Malls, Mr. Adnan Maqbool spoke eloquently at the Opening Ceremony. He said, “We are dedicating the entire Dolmen Shopping Festival to the victims of the Peshawar school attack”.
“All the Dolmen Malls in Karachi for the next 16 days will be as a destination to promote and celebrate our art, culture and most importantly celebrate those precious moments with our next generation”, he further stated.


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National Cybersecurity Awareness Month 2020 Comes to a Close
As we’ve discussed throughout National Cybersecurity Awareness Month, there are plenty of threats and ways cybercrooks can disrupt your personal computer needs as well as your companywide endeavors. Week 3 of National Cybersecurity Awareness Month (week of Oct. 19) focused on the impact cybercrime has on the healthcare industry – a business segment at the forefront of everyone’s minds as well collectively deal with a worldwide pandemic.
The healthcare industry relies increasingly on Internet -connected devices and solutions to improve patient care, organizational efficiency, speed of crisis response and more. The emergence of telemedicine, digital health records, online medical devices, patient wellness apps and an increasing amount of third parties entering the health supply chain has created many benefits. However, it also has exposed the healthcare industry to vulnerabilities that cybercriminals can exploit.
This past week represented the final week of National Cybersecurity Awareness Month 2020, and the focus was on the future of Internet-connected devices. NCSAM explored how technological innovations like 5G will impact consumers’ and businesses’ online experiences. For example, 5G will create faster speeds and data transmission, as well as larger attack surfaces for cybercriminals.
NCSAM also reviewed how people and infrastructure can adapt to the continuous evolution of Internet-connected devices in the future. It is not only necessary to safeguard personal devices, but all the devices we interact with.
Let an expert like 2W Tech help you. Contact us today if you need help with your IT security strategy and ongoing protection plan. The sooner your business follows these cybersecurity best practices, the sooner you can rest easy that your business is protected.


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L’Chaim to Life
Presented by Maurice Klein
Michelle Blum, Chief Executive Officer of the Australia-Israel Chamber of Commerce NSW
Maurice Klein speaks with Michelle Blum, CEO of the Australia Israel Chamber of Commerce (AICC) Australia’s pre-eminent international Chamber of Commerce and one of the country’s most prestigious and active national business organisations, with a membership exceeding 1,000 leading Australian companies across a broad range of industry sectors. Michelle is passionate about fostering impactful bilateral collaborations between Australia and Israel, facilitating valuable partnerships that draw on Israel’s unique innovation eco-system to support the development of Australia’s innovation economy and entrepreneurial culture.
Broadcast 8 September 2022


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Alcruz leads list of USA exec movers
Melissa Alcruz has been named vice president of trade marketing at USA Networks, part of the company's drive to ramp up its marketing activities.
Previously director of marketing at MTV, Alcruz will now develop sponsorships of USA product with ad clients. Also at USA, Todd Fedell, previously with The Cartoon Network, has been appointed vice president and creative director of its marketing division. Alexandra Shapiro, last marketing director for Zoggle.com, has been named vice president of consumer marketing. Wendy Weatherford, previously with MXG Media, is now USA's vice president of promotion and interactive marketing. Also, Jennifer Emrich, last with Master Card International, was named director of trade marketing.
- Susanne Ault
Broadcasting & Cable Newsletter
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SoundCloud has launched the fourth edition of its First on SoundCloud campaign, featuring Lil Tecca, Baby Rose, Na-kel and Ms Nina.
A new exclusive artist spotlight will be released every two weeks over the two-month long campaign.
The artists’ stories will be told through a combination of short videos, curated playlists and original photography that will be promoted across the SoundCloud app, social media, creator micro-site, blog, newsletter and supported by paid media and partner marketing.
As with prior editions of the campaign, SoundCloud is offering all creators the opportunity to upload and be heard as part of ‘First on SoundCloud’.
Starting today, artists can upload an original track to SoundCloud and tag it #SCFIRST for a chance to be promoted across the SoundCloud community.
Tracks uploaded with #SCFIRST will be randomly selected to be included in the First on SoundCloud playlist and promoted on SoundCloud’s social feeds, newsletter, and blog to millions of followers.
Additionally, tracks tagged with #SCFIRST will be be fast tracked for SoundCloud Premier consideration.
“Since launching in early 2018, our ‘First on SoundCloud’ program has celebrated the many artists who start their careers on SoundCloud and go on to move popular culture.”
Anthony Gabriele, SoundCloud
“SoundCloud is here for creators, from their first upload to their first stadium tour,” said Anthony Gabriele, Senior Vice President, Subscriptions & Marketing at SoundCloud.
“Since launching in early 2018, our ‘First on SoundCloud’ program has celebrated the many artists who start their careers on SoundCloud and go on to move popular culture.
“But no one does it alone, and we are excited that this edition spotlights the communities that inspire these artists finding their voices.”Music Business Worldwide


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Nokia announced it will introduce a new version of Ovi Maps including free walk and drive navigation tools, a move the handset giant claims could nearly double the size of the current mobile navigation market.
Clearly Nokia is hoping this move will position it to better compete against Google. In late 2009, Google launched the free Google Maps Navigation service for its Android operating system. On a conference call with reporters, Tero Ojanpera, Nokia’s executive vice president of services, said that the company believes its solution is better because it is less bandwidth intensive than Google’s solution. “Our maps are preloaded making it easier for consumers to use,” he said. “Other solutions are bandwidth intensive.”
Nokia’s move also will likely have a big impact on third-party navigation software providers which charge $5 or $10 per month to subscribe to their service and specialized device makers such as TomTom and Garmin.
Ovi Maps is available for download now across 10 Nokia handsets, including the Nokia N97 mini, Nokia 5800 XpressMusic and Nokia E72. Beginning in March 2010, all new Nokia GPS-enabled smartphones will include the new version of Ovi Maps, preloaded with local country map data, walk and drive navigation and access to Lonely Planet and Michelin travel guides.
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CategoriesApple Astronomy Biology Blackberry Cloud Computers Digital Camera Embedded Energy Fiction First Future Gadgets Google GPhone Ideas Innovative Internet iPhone Laptop Life Linux Microsoft Mobile Linux Mobiles Networking Nokia Open Source OS Research Science Science Fiction Services Sky Smart Phone Software Space Storage Super Computing Technology Telecoms Tips & Tricks Trends Video Windows


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Administrators for Pilkington's are still looking for a buyer for the company's Swinton site after 241 jobs were lost in July.
While the company's factory in Poole has ceased operations, the Swinton site in Greater Manchester is still trading and administrators Paul Flint and Brian Green from KPMG still hope to sell that part of the business.
A KPMG spokesperson told DIY Week
: "We are still taking to interested parties about the Swinton operation, so we're hopeful of a deal being concluded. We're hopeful that we will be making an announcement about some form of sale in several weeks."
Pilkington's Group plc, which includes Pilkington's Tiles (Ireland) Ltd and Quiligotti Access Flooring, went into administration in June
, blaming cash flow problems and tough trading conditions in the furniture and floor coverings sector.


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The year 2019 has been marred by controversies for food aggregator Zomato, but looks like none of that has stopped Zomato from minting money and curbing its expenses. Cofounder and CEO Deepinder Goyal has now said that the company will reach profitability by next year thanks to its measures to reduce cash burn.
In an interview with PTI, Goyal said that the company has managed to reduce its cash burn by 70% in the past seven months, limiting it to $15 Mn per month. With this pace, the company plans to attain profitability by the end of 2020.
According to a media report in November, Zomato investor Info Edge executives, in an analysts call, said that now that the foodtech startup has managed to slashed down its cash burn rate, it will also focus on improving its margins and lowering the cost of delivery to achieve profitability.
Zomato believes one of the factors for this reduced cash burn is the increased number of orders and improved efficiency of delivery. The company currently operates in 11 countries and serves almost 48 Mn customers every year. Out of these 48 Mn customers, India makes up for a whooping 23 mn, whereas the other 10 countries account for 25 Mn orders.
According to its biannual report for the first half of the financial year (FY) 2020, Zomato has managed to spread out its services to over 500 Indian cities to facilitate over 1.3 Mn orders per day. In addition, the food aggregator has also noted a hike in the average user order frequency from 3.1 in the first half of the financial year 2019 to 3.6 in the same time frame of FY 2020.
Zomato recorded 11.2 Mn transactions in H1 FY20, versus 3.6 Mn in H1 FY19. In the report, Zomato also highlighted that it has cut its cash burn by almost 60% and has also noted a 40% decline in its EBITDA (earnings before interest, tax, depreciation and amortization) loss from March to September 2019.
In the first half of the FY2020, the company earned $205 Mn in revenue, versus the $63 Mn in first half of last year.
Last week, Goyal announced that the company will raise $500 to $600 Mn by January 2020. This announcement comes after speculation that Zomato is finalising a $600 Mn funding round led by Alibaba Group’s ANT Financial. The reports suggest that ANT Financial might invest $550 Mn into the company, whereas Zomato’s existing investors will invest somewhere between $150Mn to $200 Mn.
The company, which has raised $759.6 Mn till date, is currently valued at $2 Bn. With the $600 investment, the company is expected to be valued at $3 Bn.


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IT is one of the most unusual leaps in the automotive world: farmers hold the key to the revival of an iconic Japanese sports-car.
The Mazda motor company plans to build a generator - similar to those found near dams and used to power campsites - driven by a scaled-down version of its famous "rotary" engine.
If sales take off, revenue from the generator will kickstart the rebirth of a modern RX-7, the company says.
"We cannot do one without the other," said Takashi Suzuki, the program manager of the powertrain development team at Mazda, who also adapted the scaled-down rotary engine to recharge the battery pack in Mazda's new electric car.
The rotary engine in the experimental Mazda is just 330cc in capacity, about a quarter of the capacity of Mazda's last rotary-powered sports-car, the RX-8.
The Mazda electric car can travel up to 200km on battery power alone. But when that runs out, the scaled-down rotary engine (fuelled by a 9 litre petrol tank) can recharge the on-board battery pack to provide a further 200km of travel.
Mazda's rotary engine was killed in 2012 by high emissions and poor fuel economy. But the company is desperately trying to find a way to make it economically viable in time for the engine's 50th anniversary in 2017, and the RX-7's 40th anniversary in 2018.
At the Tokyo motor show this week, Mazda was pessimistic about the revival of the engine because the development cost would outweigh the return in sales, because sports-cars tend to be niche vehicles.
But if sales of the rotary generator take off then Mazda bosses will consider using that to fund development of a new rotary engine for a future sports-car.
Mazda built 811,634 two-seater RX-7 sports cars from 1978 to 2002, according to automotive history websites.
The four-seater RX-8, which had rear-hinged "suicide" doors on either side, notched up 192,194 sales between 2003 and April 2012, but was not deemed successful enough to continue with a new model.
Japanese car maker Mazda is well known for rotary engines, but the technology was invented by a German engineer Felix Wankel, who first patented the unique design in 1929.
After unsuccessful attempts at production, Wankel sold the licence to the technology to Mazda and German car maker NSU (the predecessor to the Audi brand, who used it one model, the Ro80).
NSU stopped making the rotary-engine Ro80 in 1977 but Mazda had almost continuous production from 1967 (when it fitted a rotary engine to the Cosmo sports car) until April 2012, when the RX-8 was phased out.
Coming full circle, two years ago German car maker Audi announced it was considering using a rotary engine as a range extender in an experimental electric car.


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Turns out Tom Holland is reportedly part of the reason why Disney and Sony reached a truce, re: Spider-Man being yoinked from the Marvel Cinematic Universe.
In short, Disney and Sony called it donezo after neither could agree on, well, money. According to the whispers, Disney wanted the third Spider-Man movie to be financed on a 50/50 basis. Sony wasn’t a fan. And in August, it was announced Spider-Man had been yoinked from the MCU.
Then, just a little while ago, the two juggernauts jointly announced that they had reached a new deal, and everything was okay again. Spider-Man was back in the MCU.
“I am thrilled that Spidey’s journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it,” Marvel Studios president Kevin Feige said in a statement to Variety. “Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold.”
That last bit.
ANYWAY, now sources have told The Hollywood Reporter that Holland himself made “multiple appeals” to not just Feige, but Disney chairman and CEO Bob Iger and Sony film chairman Tom Rothman to help encourage a new deal.
Holland is set to star in the lead role in Sony’s extremely cursed movie Uncharted. I say “cursed” because it is actually in development hell and has somehow lost five directors. Sources told THR that Holland used his Sony role to butter up Rothman, and used his Spider-Man clout to appeal to Iger. And thankfully, it worked.


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COVID- 19 Outbreak: How Couples Are Dealing With It!
First it was the floods and now it is the coronavirus which has forced young couples to postpone their wedding for the second time.
Many sweetheart couples are crying out from their home, have had to postpone their wedding, scheduled to be held once again, thanks to the restrictions imposed in the wake of the COVID-19 outbreak.
The devastating floods of August last year played spoilsport, and many families decided to conduct the marriage in mid-March this year.
The deadly coronavirus, however, has come as a villain this time. With the State government imposing a ban on large gatherings, the marriage has been deferred for the second time by many families now.
Yet young couples are taking the development in good spirit and is looking forward to tying the knot in June or September this year.
One of the many side effects of the novel coronavirus pandemic is couples are being forced to reschedule their wedding dates.
Many Brides are upset as they had to change their minds about getting married in the month of March, April, May or June. As the saying goes, one can never really be sure about birth, marriage, or death.
The coronavirus pandemic and the rapidly increasing number of COVID-19 cases led Brides to change their minds. Brides shifted their lavish destination wedding to a more private one in hometown.
Since its onset in late December in Wuhan, China, coronavirus has infected thousands across the world. It has left countries and industries teetering on the brink of an economic slowdown.
With cases rising across the world and governments going in for lockdowns, how are couples, families, and the wedding industry coping with the fallout?
With celebrities indulging in grand celebrations while tying the knot, destination weddings have become the in-thing in India.
Celebrities Virat Kohli and Anushka Sharma got married in Italy as did Deepika Padukone and Ranveer Singh, and soon, everyone wanted to fly to the Mediterranean country for their big day.
The wedding season that spans September to March. But the coronavirus outbreak hit many wedding plans at this time of the year.
Many founders of the wedding videography startup, feel that what they thought was a recession-free industry has “taken a huge hit”.
Around 10 wedding assignments that they were really excited about and worked hard on have now been pushed to a later date.
But nothing is more important than your health and that of those around you. Everyone from the hospitality, travel, fashion, and manufacturing industries is suffering.
Till now people took the digital route only when the bride and groom booked services. If the situation persists for some more time, people will get more comfortable going digital for collaborations and bookings.
On the other hand, eCommerce business for costumes, jewelry, and gifts, has noticed an increase in its business. People are now home and are shopping online more; hence, there has been a spike. In eCommerce, between February and March.
Facing the loss
With the state governments appealing and ordering people to not gather in groups of more than five people, wedding venues have been shut down until at least March 31 now.
Many Founders feel that the wedding industry is going to be drastically hit by the coronavirus impact. Banquets have been ordered to not host any public events and with travel restrictions, destination weddings have been called off.
While it does not affect the venue business directly as the marriage will eventually happen, the families have to bear the cost.
We know at many family cards were printed and distributed, and honeymoon bookings were done. This is just not a monetary inconvenience, but also upsetting for the bride and the groom.
Most venues are offering free rescheduling. However, the situation is going to get tough for small-scale planners and vendors.
Vendors usually have cash reserves for two to three months; no income for the next three months will put a lot of them out of business.
With clients delaying the wedding, there is no assurance that they will get back to them, or if the payment will remain the same.
It is clear that July to October not being the wedding season, and the industry may get time to recover, but the question is how long it will take?


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Following a move to a new headquarters in Kings Lynn, Norfolk, functional fitness specialist, Jordan Fitness has welcomed two new members of staff to their team.
Stuart Barbour joins the team from a strong sales background within the fitness industry as Sales Accounts Manager. Stuart will be responsible for managing key account customers and distributors based both in the UK and internationally. With a keen interest in sport, Stuart’s role will encompass helping customers get the most out of their Jordan Fitness equipment.
Pam Thatcher joins Jordan Fitness as Financial Controller. With extensive experience within accountancy roles, Pam will be ensuring effective control of costs and management of financial processes.
“We are delighted to welcome Stuart and Pam to the team at Jordan Fitness”, says Neil Jordan, Managing Director at Jordan Fitness. “As our business continues to grow, Stuart and Pam’s experience will help ensure Jordan Fitness goes from strength to strength”.


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Navarre's Carter brothers are fashion moguls in the making with C3 Sports
Spend just a few minutes around the Carter brothers — Michael, Joshua and Dwayne — and it's impossible not to notice the bond they share.
Dwayne, 24, and Michael, 19, are former Navarre High football standouts as four-year varsity players, and Michael is an up-and-coming running back at the University of North Carolina. Joshua, 17, is a Division I prospect who will begin his fourth year of varsity play at Navarre this fall and is already a two-time PNJ All-Area pick — one year on the defensive line and one year at linebacker.
The trio is extremely competitive and each share a great sense of humor. And when they're together, they're inseparable. Whether it be on the football field, in the weight room, at the beach or in their cherished lounge/converted garage, which was converted to a lounge and has been a popular hangout for the brothers and their friends since childhood.
It's in the garage, of course, where the most pivotal discussions take place. And the seeds of big ideas get planted — like the one that became C3 Sports, the athletic clothing line created by the Carters.
The company launched in December 2016, just weeks before Michael Carter enrolled early at North Carolina. The primary goal of the company is simple — provide high-quatlity athletic gear at a fair price.
And, of course, to still look fly.
"Even though we all have different roles in the company, every decision we make is done together," Dwayne Carter said. "Whether it's big or small, we make the decision together. If we are not physically together, we FaceTime or conference call."
Dwayne Carter graduated from Harding University with a business management degree and, as Michael puts it, focuses on the "numbers."
Dwayne Carter credits Michael Carter, who has just over 4,100 followers on Twitter, for being the marketing mastermind. He's the one who comes up with social media strategies like captions and timing of posts.
As for Josh Carter, both of his older brothers refer to him as the "creative" one.
The brothers and their networking prestige has helped C3 Sports connect with professional football and baseball players, college football players and even a NASCAR driver.
"Ever since (Josh) was little, he's been the most creative ... hands down," Dwayne Carter said. "He wears so many different types of clothes. You might see him in a pair of boots with long pinstripe socks that are both different colors, while wearing a basketball jersey.
"In one word, he's just different when it comes to his clothes and creativity."
The "Cart3r" sleeveless hoodie and "Cart3r" sweatshorts are two of the most popular items for the company and are listed at $32 and $23 on shopc3sports.com.
Comparatively, the Nike Dri-Fit hooded sleeveless training top sells for $65 while NIke knit training shorts go for $60. Dwayne Carter said C3 uses the same manufacturer as Nike and Adidas.
"We try to sell the same thing, or similar, but for less," Michael Carter said. "We want to sell clothes that anybody can wear. You can work out in our stuff, or hang out around the house or walk around the mall. We're even working on some formal gear and we've got other stuff planned.
"We're brothers on a mission. Our goal is to make an impact and eventually give back."
C3 Sports immediately gained popularity in the Pensacola area, and obviously had a jumpstart on getting their gear circulating in Navarre.
Michael Carter's teammates at North Carolina were also quick to jump on the train, and Dwayne Carter said "plenty" of college football players were wearing C3 clothing under their uniforms last season to stay within NCAA regulations.
The company took a major leap forward after partnering with Juco Frenzy, a clothing line which is owned by Richard Dorvalus, who was Dwayne Carter's roommate when the two attended Independence (Kansas) Community College before Carter signed with Harding.
Juco Frenzy's popular shirt — "Juco Product" — and all of its other clothing has a C3 logo attached to it.
The Netflix series "Last Chance U" season three premiers July 20, and will follow the Independence Community College football team. Dwayne Carter said a great deal of players at ICC are wearing the C3 brand throughout the day and expects to see the logo frequently in episodes of the new season.
"I knew growing up that I wanted to go to college to learn how to start a sports brand," Dwayne Carter said. "But I didn't realize how much networking I would do in college. A lot of guys that play college football end up being coaches. Next thing you know, 60 of my former teammates from (Independence) or Harding are high school coaches and I'm talking with them about setting them up with C3 uniforms."
The C3 brand took another promotional leap in February, when Dwayne Carter was invited to the Daytona 500 by Nascar driver Brendan Gaughan — who finished 28th at this year's race.
Gaughan was interested in C3 Sports and requested to have his logo stitched on a C3 hoodie that he could wear during festivities surrounding the Daytona 500.
"I went down there thinking I was going to sit in the stands," Dwayne Carter said. "It was the complete opposite of what I expected. He brought me down on the field to hang out in his RV.
"Next thing I know I'm seeing people like Danica Patrick, Aaron Rodgers and I even talked to (country music band) Florida Georgia Line."
It was an event that strengthened what was already an in-place philosophy the Carters had in place — keep an open mind to whatever doors might open for their brand, their business and in turn, their hometown.
On Instagram, C3Sports has 2,438 followers — which the Carters believe this is just the beginning.
"People call us all the time and want to work with us ... they trust us with their brand," Dwayne Carter said. "We want to wait for them to come to us. Especially with the younger athletes. We don't want to make them feel any pressure."
Brian Achatz can be reached at firstname.lastname@example.org or 850-435-8521


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While the largest pet-owning group in the United States, the millennial generation, may be highly resistant to pet food marketing messages, that doesn’t mean dog and cat food companies shouldn’t use fact-based promotion of their products, according to Bob Wheatley, founder and CEO of Emergent, a brand strategy firm.
“Here’s the interesting thing about that audience [millennials],” Wheatley said in the video below from Petfood Forum 2017. “They are serial avoiders of anything that looks like marketing.”
Wheatley used his experience in neuroscience and behavioral marketing to understand what pet food marketing messages do work for millennials.
Pet food marketing messages for millennials
On the one hand, millennials are not buying homes, nor having children, at the same rates as the generations that beat the Nazis, fought for civil rights or pioneered the internet. However, unlike Generation X, the pet food industry’s lost generation, Millennials are buying and adopting pets. Millennials may replace children with pets, or use the fur babies as practice for the real thing.
“Pets are the family,” Wheatley said.
That humanization of pets may be key to conveying information to millennials, since millennials may care about their cats and dogs the way other generations care about their children.
“Every pet care company that works hard on improving its nutritional deck and profile and nutritional benefit to pets is going to say, ‘wait a minute your telling me that doesn’t matter?’,” he said. “Of course it matters, but that information is more important to retaining a customer, because it becomes the justification for their purchase decisions.”
US may mirror Japan in substituting pets for babies
Millennials seems to be replacing babies with cats and dogs, which potentially sets up the US to follow trends seen in Japan, said Maria Lange, business group director for market research firm GfK, at Petfood Forum 2017 on April 4 in Kansas City, Missouri, USA.
“Millennials are 77 percent more likely to have a pet when they are unmarried and not a parent,” she said. “If that trend continues we may see a similar trend to what we’re seeing in Japan…Japan has more pets than they have children. Maybe that is a trend that the US may follow in the future.”
More that 35 percent of millennials in the US now own pets, up from approximately 20 percent in 2007, and that figure seems likely to continue rising, she said. Over the same past decade, baby boomers’ pet ownership rate has dropped from more than 40 percent to near 30 percent.
Lange’s research discovered that many millennials think of pets as practice for having a child. Just as parents often care more about the quality of their children’s food that their own, millennial pet owners share strong concern for the well-being and health of their pets, she said. Millennials demand transparency, quality and nutrition in their own food; likewise, they prefer to buy healthy, sustainable pet food.
Petfood Forum 2018
Petfood Forum provides an opportunity for pet food professionals from around the world to network, exchange ideas and do business with one another and with the industry's leading pet food manufacturers and suppliers. Petfood Forum 2018 will take place at the Kansas City Convention Center in Kansas City, Missouri, USA on April 23 -25, 2018.


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Business News from BBC
Car insurance sees biggest price drop in six years
on 20th April 2021 at 1:16 am
The average cost of car insurance has fallen by £87 in 12 months, according to new data.
Tesco fined £7.56m for selling out-of-date food in Birmingham
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Offending items were found at three stores in Birmingham between 2016 and 2017.
Super League: Why are football's biggest clubs starting a new tournament?
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Europe's biggest teams have suffered during the Covid pandemic and say they want financial stability.
Bank of England to consider digital money plan
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The Bank and the Treasury set up a taskforce to examine how a central bank digital currency would work.
Priti Patel: Facebook encryption plan ‘must not hamper child protection’
on 19th April 2021 at 2:44 pm
The Home Secretary criticises Facebook's privacy plan for its apps in a speech on child protection.
UK government intervenes in Nvidia takeover of chip designer Arm
on 19th April 2021 at 2:41 pm
The government is to examine Nvidia's planned purchase of the UK firm on national security grounds.


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- Massachusetts Institute of Technology (MIT) graduates launch model where entrepreneurs earn cash from waste.
Alex Wekesa picks five one-shilling coins from his customer, scoops sawdust in a cup and hands it over to a middle aged woman with two sheets of toilet paper serviettes who proceeds into a tiny blue-coloured cube ‘Fresh Life.’
Mr Wekesa is a franchise holder and the operator of two toilets located deep in the heart of Nairobi’s Mukuru slums, under the brand Fresh Life.
His innovative latrines serve about 200 households in the densely populated slum and the waste is collected to make organic fertiliser.
“I pay all my bills from these toilets and even made savings to expand my other businesses,” said the 27-year-old entrepreneur in an interview with the Business Daily.
“Thanks to these facilities, the problem of flying toilets which used to be prevalent here is no longer there.”
The franchisee’s daily earnings from the sanitation facilities is Sh370 and he makes as much as Sh450 during weekends and public holidays when demand is higher. Adult users pay Sh5 while children Sh2 to use the eco-friendly toilets which have grown beyond the hygiene function into viable business ventures.
Users deposit the waste in different plastic containers and splash sawdust on it to reduce smell, eliminate flies and help breakdown the human waste.
Mr Wekesa says idealy the sawdust should be stored in a bucket inside the toilet but he prefers handing it out in a cup to each client to avoid wastage.
The waste is emptied every day and ferried to a central centre where it is processed into organic fertiliser.
The latrines are the brainchild of Massachusetts Institute of Technology (MIT) graduates—David Auerbach, Ani Vallabhaneni, Lindsay Stradley and Nathan Cooke – who came up with the idea of franchising toilets to meet the sanitation needs in urban informal settlements.
They teamed up to form Sanergy in 2011, a social venture that seeks to develop a network of small-scale sanitation centres across slums, create a waste collection network and convert human waste into fertiliser and other by-products.
“We saw a broken sanitation value chain. Even if hygienic sanitation facilities were provided to a community, there was no guarantee that the waste would be safely collected,” said Mr Auerbach.
“We conceived of a franchise model whereby local residents provided low-cost, high-quality sanitation services and we provided the necessary support to address the entire sanitation value chain,” said the co-founder who has an MBA from the prestigious MIT Sloan School of Management.
A unit of Fresh Life toilet costs Sh50,000 which includes installation, branding, training, demolition insurance, daily waste collection services, hand washing point and a starter pack.
Buyers of two units at a go are given a discount on the second toilet which retails at Sh30,000; translating to Sh80,000 for two sanitation blocks.
There is also an annual maintenance fee to meet the cost of collecting the waste and renew the franchise. Entrepreneurs can pay in instalments and can also access interest-free microloans from Kiva, a California-based organisation that lends to initiatives meant to alleviate poverty.
“Most people pay in instalments and the businesses break even within a year. A unit generates more than $1,000 in income annually,” said Joseph Githinji, a sanitation marketer at Sanergy.
The starter pack comes in a tin box complete with an overall jacket, gumboots, hand gloves, waste bins and cup for sawdust, pedal sanitary bins, five-litre disinfectant, soap, scrubbing brush, three toilet rolls and a solar-powered lantern.
Mr Wekesa, who holds a certificate in analytical chemistry from Eldoret Polytechnic, turned to the toilet business after he ‘tarmacked’ for years without securing a job.
Having lived in Mukuru for the last two decades, he had learnt the rigours of survival and had tried his hand at a barbershop and laundry shop to make ends meet.
His burning entrepreneurial spirit saw him buy his first franchised Fresh Life toilet in July 2012 through paying a deposit of Sh20,000 from his savings and offered to clear the balance in six months.
“I got good business using the first unit. The nearest facility was a pit latrine which was dirty and criminals used it as a drug den.” The units have found favour with locals because they are clean, affordable, conveniently located within estates, and safe for use at night as they have solar lighting.
This increased demand saw the trader buy another toilet in October the same year, which he set up adjacent to the pioneer unit.
“This is a high traffic area as it is located next to the main avenue,” he says. He set up both units about 10 metres from his tin roofed mud-walled one room house; close enough to monitor operations at the premises.
The toilets have transformed his life— he has employed his cousin to assist him run the business and has used savings from the toilet to stock his clothes shop—Anointed Boutique.
Sanergy choose Mukuru slums to test the innovation as most informal settlements lack adequate sanitation facilities.
Statistics show that 13 per cent of households or 5.6 million Kenyans have no access to toilets and dispose human waste in bushes.
The UN Habitat estimates that only eight out of every 10 people living in Nairobi’s slums—which constitute 60 per cent of the city’s total population —have access to adequate water and sanitation facilities.
Sanergy hopes that its prefabricated low-cost toilets which are distributed through a franchising model to local entrepreneurs will benefit the millions with no latrines.
There are currently about 308 Fresh Life toilets operated by more than 161 micro-entrepreneurs in the densely populated Mukuru slums, home to more than 500,000 people.
Franchise operators undergo a two-day entrepreneurship training where they are taught skills such as basic book keeping and management.
This has seen a number of Fresh Life owners set up small kiosks next to their toilets to sell fast-moving consumer goods such as diapers, toilet paper, toothbrush, toothpaste, airtime, washing powder, bar soap and petroleum jelly.


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UK: Bottled water trade body attacks "ill informed" minister
A UK trade body has attacked a Government minister for making "ill informed" comments about bottled water.
The Bottled Water Information Office (BWIO) was responding to comments made by Environment Minister Phil Woolas late last week. Talking to the BBC, Woolas said it is "daft" that 6m litres of bottled water are drunk in the UK every day, when safe tap water was universally and cheaply available. "It borders on morally being unacceptable to spend hundreds of millions of pounds on bottled water when we have pure drinking water, when at the same time one of the crises that is facing the world is the supply of water," Woolas told the BBC.
In response to the comments, Jill Ardagh, the director general of the BWIO, said today (18 February): "Mr Woolas is clearly ill informed about bottled water and the role it has to play in society, either in this country or other parts of the world.
"Water consumption in general provides an excellent and healthy way to stay hydrated and by its very nature bottled water is completely pure, safe and sustainably sourced."
The trade body said it has been seeking a meeting with Woolas since mid-December, but "with no success".
"We believe his reported remarks are unjustified and ask that he explains his comments immediately," Ardagh added.
Woolas' comments were made for a television programme, which will be broadcast by the BBC today.
The three leading bottled water brands in the UK launched the Natural Hydration Council (NHC) earlier this month. The organisation says it is not a lobby group but aims to research and promote the env...
A recent BBC TV documentary in the UK has re-opened the debate about the environmental costs of bottled water. Annette Farr believes the documentary was one-sided and irresponsible....
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Could Cost You To Park In Saratoga Springs
If you like the fact that you can just drive up to Saratoga, find a spot and enjoy your entire day strolling downtown and having a bite to eat, that soon may change. It may cost you to park. It's not always easy to find a parking spot in Saratoga Springs, but soon, when you do, it could cost you. According to News 10, the city has done a study and has received bids from various companies about a smart parking system.
They got a fifty eight page plan from a company named LAZ Parking that would recommend a pay by phone parking system. But some feel that this would harm local business. A study showed that paid parking systems decrease business ten to thirty percent. There is a petition in place against the paid parking system.
There is another solution that local would like to see. They want more spaces and to build a parking garage. The city says that paid parking would bring in more revenue for the city.
Saratoga Springs plans to accept a bid on May 1st. The public would will get a chance to weigh in after the first phase of the parking study is complete.