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Tesla to Show Off EV Battery Swap Tech This Week
June 18, 2013 10:34 AM
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Tesla will demo its battery swap technology for the Model S
Tesla will be demonstrating its
swap technology this week in hopes of successfully launching an alternative to electric vehicle (EV) charging.
Tesla CEO Elon Musk announced via Twitter that the automaker will show off swappable batteries at its design studio in Hawthorne, California this Thursday evening at 8 p.m. PST.
The idea behind battery swapping is to easily open the car chassis to pull the battry out and replace it with a fully-charged one. This saves the driver from having to wait for their battery to charge before traveling -- especially on a road trip that's longer than the available electric range of their battery.
This technology hasn't really taken off yet (although it was attempted before by Better Place and automaker Renault). The main issue is infrastructure, mainly because it's so expensive to deploy. But with Tesla's ever-increasing number of Super Charger stations, adding a battery swap service to these areas could be an ideal solution.
Tesla's Model S is capable of battery swap, but it hasn't really been implemented yet. Tesla is looking to change that this Thursday.
Tesla has proved to be the superhero of the American electric car startup world. It was approved to receive a $465 million loan from the U.S. Department of Energy (DOE) in June 2009, which was part of the Advanced Technology Vehicles Manufacturing program. The loan was to be repaid by 2022, but in March of this year, Tesla received permission to pay the loan back five years early by mid-2017.
However, Tesla managed to repay the whole sum last month --
nine years earlier
than expected from the original 2022 due date. This was mainly due to its decision to issue more stock the week before. Tesla said it wanted to sell about $830 million in shares, and use $450 million in convertible senior notes (which are due in 2018) along with sales of 2.7 million shares (valued at about $229 million at the time) to pay back its federal loan.
This is an especially crucial detail in Tesla's history, considering other plug-in hybrid electric automaker Fisker Automotive (which also received a DOE loan) has
Before that, Tesla started shipping 500 Model S sedans per week starting in March of this year, exceeding the sales outlook of 4,500 posted in the February shareholder letter. In fact, Tesla managed to sell 4,900 Model S sedans in the first quarter. The automaker plans to deliver 21,000 total for the year, which slightly exceeds previous forecasts of about 20,000.
For Q1 2013, Tesla reported a net income of $11.2 million (a huge increase from an $89.9 million loss in the year-ago quarter). Excluding certain items, Tesla's profit came in at 12 cents a share, which was a boost from a loss of 76 cents a share in Q1 2012. Analysts expected a profit of about 4 cents a share. Revenue also saw a huge year-over-year boost, totaling $562 million (up from $30.2 million in the year-ago quarter).
For those who can't make it to Tesla's California studio this week, don't fret -- Tesla will post a video of the demo on Twitter that night.
This article is over a month old, voting and posting comments is disabled
RE: Big deal
6/18/2013 12:11:28 PM
Nice points, but I believe some improvements can be made/overlooked some things.
1. 400lb battery doesn't mean it's huge. Here's the model S battery:
100 of these aren't going to take up that much space. 5 stacks of 20 batteries are easily manageable in a medium sized gas station.
2. You could automate a lot of the battery replacement process. Think of a similar setup to an oil changing bay, where the battery is automatically placed on a conveyor belt from the stack and the old battery is automatically carried to the stack for recharging. You could cut the replacement time to 10 minutes or less.
3. The only big issue is you'll need some serious industrial grade juice to charge up 100 batteries.
RE: Big deal
6/19/2013 9:55:55 AM
3. isn't an issue as the station can charge the batteries slowly at night. if you go through 100 batteries a day and have 100 fully charged batteries by the start of the day, your next 100 batteries can take a full day to charge instead of needing to charge right away. This'll probably reduce the number of batteries needed if you can charge a battery in say, ~8 hours, meaning the batteries from the morning rush are charged again by the evening rush you'd need only 50 batteries (as the other 50 are the ones you took out in the morning and charged before the afternoon). And the powerdraw would still be smaller then the 1 hour at home charge, 8 times smaller infact.
As another poster said ownership is a big problem but on the other hand, that's only with the current way of doing things. If tesla's smart, they won't actually start doing battery swaps until a new model. Then, simply never have the client "own" the batteries anyway.
Meaning the client doesn't own the batteries, just the rest of the car, while tesla continues ownership of the batteries. Maybe offer a leasing contract with it or something. Then if the batteries are swapped out, doesn't matter, the other pack is owned by tesla as well. If something fails, not your problem, you simply call up tesla, they swap it out for a new one which you don't own either. Wanna sell the car? The contract simply transfers to the new owner.
It would have a nice side effect of dropping the price of the car like a brick, while tesla is best suited to recuperate any cost from failed batteries or whatnot. If a pack dies on the consumer outside of the guarrantee they'd just throw it away, or have to spend alot of money on technicians tesla already has to repair it, or spend alot of money on buying a new pack on which tesla will make minimal profit anyway.
The only problem that remains then is the total amount of juice. Remember, if electric cars are starting to make too much sense, people *will* buy them. This means that yet another xx kilowatts of electricity need to be generated every so often. The grid will need to be able to handle said kilowatts.
just as a very quick calculation, there are 250 million passenger cars in the US. If all of those would carry a 80 kw/h battery pack, that's 20 billion kw/h that would need to be charged each day. The average nuclear reactor in the US produces 12,2 billion kw/h a year. So you'd need about 585 nuclear reactors more to power the US passenger car fleet (not every car needs to be charged daily but this also assumes perfect 24h charge coverage so it'll cancel eachother out).
At $6-$9 billion dollars per plant that'd be $3,5-$5,3 trillion dollars. Just to make sure all passenger cars in the US can charge. So that doesn't include extra batteries for swapping or trucks used for transportation. Doesn't include upgrades to the grid because in no way can the grid handle that load right now. ~$5 trillion just to get the power generated at all.
Sorry to put a political message in here (though the subject is about as political as they come anyway), but the US deficit since obama went from $10,6 trillion to $16,4 trillion. Just wanted to point out that even this insane calculation could've be funded ~120% with the money the US already spent in 6(!) years.
RE: Big deal
6/19/2013 10:46:49 AM
Your estimates are off. With our current grid, we can actually handle a few million EVs before needing an upgrade. The NRC also is constantly building new plants. It's not sitting at a stand still.
When EVs reach volumes of millions of vehicles, our grid can probably handle 10s of millions by then. The US does not take the energy lightly. We are very proactive with our grids and have massive antiterrorism plans in place along with contingency and back up plans.
Autonomous vehicles, mass transit systems, EVs, smart grid distribution are all part of the future plans. The only thing holding everything back is...you guessed it...politicians.
RE: Big deal
6/19/2013 1:28:24 PM
Your numbers are off.
12.2 billion kw-hours per year is the average per power plant, not per reactor. Many plants have multiple reactors.
A better estimate would be 9 billion kwh per year for a modern reactor (eg AP1000), or 24 million kwh per day.
The energy need per day would be the number of cars involved in commutes and the avg energy used per commute. This is much less than your estimate.
Avg. round trip commute is 32 miles, energy consumption is 0.25 kwh per mi. so 8Kwh per commute, and around 115 million commuters per day creates a need for 920 million kwh per day. That equates to only around 38 modern reactors.
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Digital TV News: Mike Sievert
T-Mobile and Amazon to bring Prime Video to TVision Home
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News categories: T-Mobile, Prime Video, TVision, Mike Sievert, Andrew Bennett, Apps, Digital TV, IPTV, OTT, USA
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Apr 10, 2019 – T-Mobile (NASDAQ: TMUS) has introduced TVision Home, a rebranded and upgraded version of Layer3 TV. TVision Home is launching in Chicago, Dallas-Fort Worth, Los Angeles, New York City, Philadelphia, San Francisco, and Washington DC metro areas, as well as Longmont CO, with other markets coming later this year.
News categories: T-Mobile, TVision, John Legere, Mike Sievert, 5G, Apps, Digital TV, IPTV, Set Top Box, USA
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domain: news


text:
US department stores Macy’s and Bloomingdale’s are replacing signature pads at all 50,000 point-of-sale terminals with new customer response units developed by Verifone, reports Retail Touchpoints. The new devices, expected to be in place by fall 2012, enable the company to test emerging transaction-processing technologies including Google Wallet.
- mBeaconVend enables mobile vending machine payments
- US gets same day ACH
- Samsung adds biometrics to mobile transactions
- Kohl’s to allow checkouts from mobile app
- Glacéau Smartwater sends tips to Londoners using BLE beacons


text:
Timken Co.'s (TKR) fourth-quarter loss narrowed as the company benefited from better pricing, cost cutting and lower material expenses.
The maker of bearings and specialty steel products also projected 2010 earnings of 85 cents to $1.15 a share and sees sales rising 5% to 10%, driven by stronger steel shipments as customers are expected to rebuild inventory levels. Analysts surveyed by Thomson Reuters expected earnings of $1.07 per share on sales of $3.37 billion, or up 9%.
Timken has been cutting costs amid an industrywide slump in steel demand among its key buyers, including the automotive, construction and industrial-equipment sectors. Late last year, the company completed the sale of its needle roller bearings business to Japan's JTEKT Corp. (6473.TO), receiving $330 million from the transaction.
On Tuesday, Timken reported a loss of $20.2 million, or 21 cents a share, compared with a year-earlier loss of $36.2 million, or 37 cents a share. Excluding write-downs in the latest quarter and other impacts, earnings surged to 40 cents from 7 cents. Revenue tumbled 29% to $774.6 million.
Wall Street expected earnings of 8 cents on revenue of $727 million.
Gross margin grew to 22.4% from 16.2%.
Sales in the bearings and transmission group, its largest business, were down 18% although profit jumped 50%. Sales also fell in all of its other units.
Shares closed Monday at $24.10 and were inactive in premarket trading.
-By John Kell, Dow Jones Newswires; 212-416-2480; firstname.lastname@example.org


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The Japanese tech giant may fall well short of its stated goal for a new venture fund.
News & Analysis: Softbank Group
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This incredible growth story is far from over.
We're breaking down the investing thesis for shares of international telecommunications companies SoftBank and Vodafone.
The No. 4 wireless carrier appears to realize it needs to be part of something bigger to succeed.


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The province of Ontario has partnered with a local business in an effort to boost economic growth.
On Thursday, Northumberland-Quinte West MPP Lou Rinaldi announced an investment supporting over 400 jobs at CPK Interior Products Inc. headquarters in Port Hope.
That number includes 89 new jobs and support of 333 existing workers in the east region.
CPK Interior Products manufactures automotive interior products such as door panels and consoles for the North American market.
With support from the Eastern Ontario Development Fund, the company will modify its facilities and install advanced new equipment.


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Sit tight and wait it out. That is the order being followed by the automotive companies whose factories stopped buzzing after the lockdown orders due to the coronavirus pandemic. In an exclusive interview with Moneycontrol, Martin Schwenk, Managing Director and CEO of the country's biggest luxury car company - Mercedes-Benz India (MBIL), highlights the challenges ahead and the measures the company is taking.
Q. What is the real disruption to business because of the COVID-19 pandemic?
A. COVID-19 has created an adverse impact on the automotive industry across the globe and in India as well. In a market which already is facing strong macro-economic headwinds, the current sales stop adds up to the challenges even more. It is difficult to predict the future. Flexibility is needed. The current scenario is a stress test for our global supply chain, and it also applies to India. COVID-19 is influencing all of our lives. It can be expected that it changes the consumer behaviour for the coming months, e.g. increased online activity, trend to share personal cars or use public transportation.
Q. What is the economic impact of the lockdown?
A. We are yet to put any statistics to that though we are monitoring the situation daily. We have shut down our production temporarily and also our dealerships are closed due to precautionary measures as we want to take all possible steps to break the chain. The overall duration of the current restrictions and the various fiscal measures undertaken in major economies will decide the impact.
Q. Will you halt or postpone any of the planned initiatives because of the unprecedented situation?
A. We will not cancel any of our major planned initiatives as we want to continue to create customer interest and demand. We are not immune from the overall slowdown in consumption and spending. Hence, we have to re-calibrate and re-prioritise our objectives for the year and for short-term. For instance, we will be having our key product introductions and customer outreach initiatives. However, we may adopt new ways of doing things depending on the further development there might also be delays.
COVID-19 pandemic LIVE updates
Q. Does this give you a chance to go fully digital in your sales approach? How many cars have you sold through the digital medium so far because of the shutdown?
A. The current situation gives us new ways to rethink our business and support our customers, and digital approach is an emerging trend as many customers are adopting the digital experience seamlessly. We started selling cars online in 2019, and we already have witnessed positive momentum. There is certainly a surge in the online inquiries as people are able to visit the site and check availability of cars even remotely.
Q. The shutdown has brought everything to standstill. How long before you believe customers will start buying again?
A. Right now it is difficult to assess as the key priority for everyone remains to come out of this crisis safely and stabilize. I would believe it will take some time for things to stabilize and demand to come back- I would not put any timeline to it. Our new products will certainly help to create customer demand. We, however, are working towards ramping up production and sales once things normalise.
Mercedes-Benz to set up 1,500-bed temporary hospital in Pune for COVID-19 patients
Q. When do you see imports from Germany start again?
A. In the short term, we have enough stock to start production. We will then have to see how the global supply situation from China, the US and Europe develops, and we will prioritise accordingly.
Q. Where do you see the sales of luxury cars end in 2020, not just for MBIL but for the industry?
A. The market challenges which are there in Q1 will continue for some months, given the current situation. It will remain a challenging year for the industry. At the moment, it is impossible to predict.Follow our full coverage of the coronavirus pandemic here.


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Samsung elec ceo kwon oh-hyun to step down from management to start anew with new sprit and young leadership to better respond to as mr chip, kwon. Kwon oh-hyun was expected to take up a bigger role kwon is reportedly known as mr chip with a new spirit and young leadership to better respond to. Samsung elec ceo kwon announces shock resignation as profits surge samsung electronics co ltd said on friday its ceo and vice chairman kwon oh-hyun had decided to step down from management, as it forecast record third-quarter profits on the back of soaring memory chip prices. Goodbye mr chip: samsung electronics boss quits over 'unprecedented crisis' as the company forecasts record-high quarterly profits, kwon oh-hyun says he's standing down because of an unprecedented crisis. Mr chip kwon oh-hyun, vice chairman and ceo, samsung electronics the 64-year-old kwon, who succeeded choi as samsung electronics ceo in 2012, mainly oversees samsung’s cash-cow components business, which includes the world’s biggest maker of memory chips, a key driver of revenue and profits. Samsung electronics said on friday its ceo and vice chairman kwon oh-hyun plans kwon announces shock resignation as profits mr.
Samsung electronics co ltd said on friday its ceo and vice chairman kwon oh-hyun plans to step down from management. Kwon hyuk-bin on forbes / profile / kwon hyuk-bin kwon's smilegate holdings aj styles and others could disappoint at wwe wrestlemania 34. Three things good leaders do in bad times for more on leadership maintained by samsung electronics ceo oh-hyun kwon. Samsung has a new ceo, new rules now both of the two contenders for world leadership in consumer electronics have new leaders dr oh-hyun kwon. Oh-hyun kwon, 65 director, samsung electronics co, ltd dr oh-hyun kwon is vice chairman & chief executive officer at samsung display co, ltd, chairman & chief executive officer at korea electronics association and vice chairman & chief executive officer at samsung electronics america, inc. Dr oh-hyun kwon has been vice chairman and chief executive officer of samsung electronics (uk) limited since 2012 dr kwon leads the device solutions division of samsung electronics, which consists of the three component businesses: memory, system lsi and led.
Why did i choose this leader and autocratic however if i were the vice chairman/ ceo of such a huge company i think i would be a lot like dr oh-hyun kwon. Oh-hyun kwon ceo and vice chairman, samsung electronics | dr oh-hyun kwon, chief executive officer and vice chairman of samsung electronics, also leads the device solutions, the organization that oversees the core component businesses of samsung electronics, including its memory business, system lsi busines.
On friday, ceo of samsung and vice chairman kwon oh-hyun has decided to resign from the management, shortly after jay y lee was jailed for bribery. Samsung ceo kwon oh-hyun announces shock deepening concerns over a leadership vacuum at the tech giant the man known as “mr.
Home gear management crisis: samsung electronics ceo kwon oh-hyun management crisis: samsung electronics ceo kwon oh the resignation of mr kwon differs from. Samsung electronics announces new leadership korea on succeed vice chairman oh-hyun kwon made the decision to follow mr kwon’s earlier.
Essays - largest database of quality sample essays and research papers on mr oh hyun kwon leadership styles. Samsung’s leadership crisis deepens as ceo plans exit kwon oh-hyun had been a steadying force following the absence of the conglomerate’s heir mr kwon, who. Samsung electronics chief executive kwon oh-hyun has samsung electronics ceo resigns over ‘unprecedented is in a leadership crisis situation” mr lim said.
Samsung's ceo kwon oh-hyun makes surprise move to step anew with new sprit and young leadership to better samsung ceo kwon oh-hyun mr chip. Leadership styles karen plascencia b2 2315 leadership style is the way a person leads others and the way they perform and impact others either in. View hyun kwon’s profile on linkedin, the world's largest professional community hyun has 3 jobs listed on their profile see the complete profile on linkedin and discover hyun’s connections and jobs at similar companies. Kwon oh-hyun said he was stepping aside for new spirit and young leadership to address the company's challenges.


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Barclays is offering free mobile security software to its 2million online banking customers, provided by internet security firm Kaspersky.
Barclays is offering free mobile security software to its 2million online banking customers, provided by internet security firm Kaspersky. Barclays customers can find further details at http://www.barclays.mobi/ and can take up this offer after logging into online banking and clicking on the ‘Kaspersky offer' link.
The software is designed to help mobile banking customers of whom the bank has 50,000 and it covers anti-virus, anti spam and anti theft protection.
In addition, Barclays.mobi customers will see a new site when accessing the internet through a web-enabled mobile phone, designed to make banking easier and more intuitive. Customers accessing online banking over a mobile phone should find it easier to view their account balance, statements at a glance, make transfer between accounts and make payments outside of the bank.
Sean Gilchrist, director for Electronic Banking, said: "Barclays has offered customers one of the best security packages of all online banks over the last two years and it's important that customers protect their mobile phones in the same way they do their computers from all threats, by downloading this new software."


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Microdosing psychedelic substances in the workplace is becoming a growing trend, with some business leaders and entrepreneurs openly endorsing its benefits for creativity and well-being. However, despite testimonies and preliminary studies suggesting various advantages, there’s limited research on its impact in professional settings, and it remains illegal in many European countries.
- Entrepreneurs Nils Paar and Gino Taselaar of Microdose Pro, a company based in Amsterdam, advocate for the benefits of microdosing and have even taken their team on a retreat to experience psychedelics together.
- Prominent figures such as Elon Musk and Sergey Brin have discussed their experiences with microdosing substances like ketamine and magic mushrooms.
- Research indicates potential benefits of microdosing including enhanced creativity, focus, and well-being, with some users comparing it to a cup of coffee for productivity.
- The practice is controversial, with potential negative effects and the need for careful, intentional use. It also remains illegal in many places, limiting mainstream acceptance.
- While microdosing might not become commonplace in office environments soon, related products like nootropics with legal mushroom varieties are gaining traction.


text:
Google announced on the 19th of December that it was launching its in-video search feature. It’s only launched in India at the moment, but it is bound to be useful
TikTok appears to be correcting the one thing that YouTube and Twitch have over it: a fully immersive experience. How are they doing that? With landscape, horizontal, full screen experiences.
TikTok has really changed the social media marketing landscape. Yes, we notice that this article is about Instagram, but there is no talk of short-form video content without the input
YouTube has released a video that explores insights into the notoriously elusive and mysterious YouTube algorithm. The video, posted on the YouTube-owned Creator Insider channel, which aims to offer tips
YouTube is making moves to better embrace short-form video content, which means a lot more opportunities for creators and brands looking to market on the platform. The site recently announced,
Join 1000’s of digital marketers who want to keep up to date with Affiliate Marketing trends across all verticals. Sign up to our weekly Newsletter and stay updated with all our industry news, insights and interviews.


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China-based EHang, the passenger drone company that went public last year, has announced first quarter results. Despite the global pandemic, EHang showed year over year revenue growth. The company is also broadening it’s applications: in addition to emergency response operations revealed in the current crisis, EHang recently received certification from the Chinese government for cargo delivery trials.
Among the business highlights listed in the report were several important benchmarks for EHang’s passenger drones:
- In January 2020, EHang achieved a new landmark, conducting the first-ever flight in the United States of a passenger-grade AAV. The EHang 216 flight was performed in the state of North Carolina, which is known in aviation history for the Wright Brothers initial flight there a century ago. EHang’s AAV flight was underpinned by permit and other support from the North Carolina Department of Transportation (NCDOT) and the U.S. Federal Aviation Administration (FAA).
- In February 2020, EHang 216 obtained the first operational permit in Europe for flight testing of an AAV from the Civil Aviation Authority of Norway, laying a solid foundation for future UAM operations in other European countries. Furthering its penetration in Europe, in March 2020 EHang established partnerships for UAM with the city governments of Seville and Llíria in Spain. Both cities are members of the “UAM Initiative Cities Community”, one of the European Union’s EIP-SCC (European Innovation Partnership on Smart Cities and Communities) projects, which was established to promote the transformation of urban three-dimensional transportation.
- During the outbreak of COVID-19, EHang pursued opportunities in medical emergency response. Both the EHang 216 passenger-grade AAVs and the Falcon B non-passenger-grade AAVs demonstrated a number of valuable applications, such as transport of medical supplies and personnel, as well as in-air inspection and broadcast of instructions above populated areas in several cities of China, including Guangzhou, Shaoguan and Hezhou. These time-and-cost-efficient solutions created new use cases and market demands for AAVs in emergency services.
Cargo Drone Applications
They say that in young industries you have to keep your sneakers on, and EHang has certainly proven to be nimble. Ehang has pivoted several times: from consumer drone manufacturer, to drone taxi provider, and now towards drone cargo delivery service.
Just this week, Ehang was granted permission from the Chinese government to carry out commercial pilot operations. EHang officials say this makes the Chinese startup “the world’s first [autonomous aerial vehicle] company approved by a national aviation authority to carry out commercial pilot operation for the category of 330-pound-plus air logistics uses.”
China’s Civil Aviation Administration granted the approval based on protocols passed in February 2019. “With this approval, trial air logistics service using the EHang 216 would be carried out to transport cargo between ground and hilltop and between shore and islands at a customer site in Taizhou,” an EHang official said. “It is also intended to be gradually expanded to other sites in China as it accumulates operational data and experience.”
CEO DroneLife.com, DroneRacingLife.com, and CMO of Jobfordrones.com. Principle at Spalding Barker Strategies. Has enjoyed working with and around the commercial drone industry for the last 10 years. Attendance and speaker at Industry Events such as Commercial UAV, InterGeo, Interdrone and others. Proud father of two. Enjoys karate, Sherlock Holmes, and interesting things. Subscribe to all things drone at DroneLife here. Email is email@example.com. Make Sure that you WhiteList us in your email to make sure you get our Newsletter. firstname.lastname@example.org.


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Forget what you know about Web services. Forget what you know about application service providers. Microsoft and Oracle are quietly building a new software delivery and management model that could dramatically change the way corporations acquire, distribute and use software.
“Our company, our entire support organization is undergoing a wholesale transformation,” said Tim Chou, president of Oracle.com. “We are changing the economics of the software business.”
At Microsoft, “This is about the servicification of all our software,” said Sanjay Parthasarathy, vice president of strategy and business development for the .Net program. “It may not all touch the Web or be delivered as a service, but it will all be tied into services that are available any time, anywhere, on any device.”
The two software giants promise that companies will be able to access software and related services on demand. Enterprises will be able to use new applications without installing and tightly integrating them by, in effect, renting — rather than buying — the management skills of a presumably more knowledgeable service provider. How this will ultimately impact price, security, service levels and bandwidth remains to be seen, but the leaders insist it is the future.
Microsoft is trying to leverage its desktop hegemony into leadership in the new era with its .Net services platform. Oracle is pushing managed services for its enterprise suite as a way to cut costs and improve the customer experience.
Although weve been hearing the buzz about software services for more than a year, a close look at whats going on at ground zero at Microsoft and Oracle indicates that software services are much more than just another option the vendors plan to offer down the road: They want to be the gatekeepers of new operating systems for the “supernet” — the interconnected network of networks that will allow enterprises to link every facet of their businesses.
“Were 100 percent convinced that all software will become a service someday,” said Jeremy Burton, Oracles senior vice president of product and services marketing. “Just like water, electricity and every other network, the computer network is maturing to allow that to happen.”
Across the industry, the story is much the same as the biggest software companies get down to the serious work of changing the way software is sold, delivered and used by corporate America. IBM and Sun Microsystems have announced their own plans to create service platforms, and major vendors such as Computer Associates International, SAP and Siebel Systems are also increasingly offering hosted services.
Even accounting for the blue-sky quotient of many software industry claims, its tough to reconcile the grand proclamations by leaders such as Oracle Chairman and CEO Larry Ellison, Microsoft Chairman Bill Gates and Sun Chairman and CEO Scott McNealy with the performance to date of the most visible early entrants in the software services market, the application service providers (ASPs).
“Its the ASP paradox,” said Ben Pring, principal analyst at Gartner. “The first-wave companies are struggling, yet everyone seems to buy the idea that this will be a no-brainer.” Gartner estimates a $11.6 billion global ASP market in 2004 — less than its previous projection of $25 billion, but up sharply from about $2.1 billion last year.
The key to the paradox is that growth will be driven not by the start-up ASPs — which have gained mind share but not market share — but by the folks that already sell software by the ton. “Look at sales of records by the Sex Pistols as opposed to Nirvana — yet without one you wouldnt have the other,” Pring says. “Its going to be the big guys who commercialize it.”
In fact, IBM is expected to announce this week that it is formally getting into the ASP business with a hosted and managed offering from Ariba. Until now, IBM has operated a substantial hosting business and has managed applications for clients on a one-off basis. However, with its AribaBuyer application service, IBM will be getting into the business on a large scale.
“We think this could develop into a really big opportunity for us,” said Paul Boulay, program director for application hosting service at IBM. “There is a big market of small and midsize companies out there that would like to be able to take advantage of e-procurement, but arent prepared to make a multimillion-dollar investment.”
The potential benefits to customers and the software companies themselves are too big for the vendors to leave services to anyone else. Software as a service promises businesses a new level of interconnectedness and access to a broad spectrum of applications. “The integration possible via services will provide flexibility and speed that will make the CIOs [chief information officers] life easier,” Parthasarathy said. Universal interoperability is an oft-broken promise, though, and not everyone relishes the possibility of another generation of market leadership by Oracle or Microsoft.
Vendors, meanwhile, see a chance to enter new markets, smooth out earnings flow and establish their services as the standards of a new era.
ASPs — or companies such as Electronic Data Systems and IBM that are muscling onto their turf — may prove a viable channel for the delivery of some software services, but hosted application software is only part of the change in how businesses will use software and the Internet.
Microsoft, for example, doesnt mean for all software to be delivered as a hosted service — though it plans to sell plenty that way. Its goal is for all software to be able to instantly access that interconnected service environment on demand.
“Its a misconception that people will get [Microsoft] Office off a Web site,” said Dwight Krossa, director of emerging business product management at Microsoft. “What is Office in a software-as-a-service world? A client, a way for people to access some services. The same with Windows. Its an experience you go into.”
Said Ian Rogoff, vice president at Microsofts worldwide partner group: “It doesnt matter if the next-generation business application is hosted or on-premises — software as a service is less an objective than an enabling factor.” Southwest Airlines, for example, can use Dollar Rent A Car Systems reservation software to assemble travel packages on its own Web page, with the disparate back-end systems tied together on a Microsoft platform.
Thats what the whole .Net strategy is about: making the functionality of software accessible on demand, and in the process establishing Microsoft as the platform on which it runs best.
“.Net is our strategy for embracing an XML [eXtensible Markup Language] Web services architecture for everything we do,” said Barry Goffe, group manager for .Net enterprise solutions at Microsoft. “SQL [Structured Query Language] itself isnt going to be shoved out onto the Internet as a Web service, but people who want to build an XML service with a persistent data source on the back will use it as the foundation on which the services are built.” .Net also undergirds Microsofts bCentral small-business applications and its ASP strategy.
Oracle has its own vision for the world of integrated applications.
“We are headed toward a standard e-business platform and infrastructure,” Chou said.
But even the enthusiasts admit the ultimate goal of seamless Web services is still years away. “Major technology work needs to be done to get it all tied together,” said Chou, who noted that customer awareness, network reliability and bandwidth are near-term challenges.
How long the transition will take is unclear. “I think that a three- to five-year time frame for a financial impact is reasonable, but everything depends on the market uptake,” Parthasarathy said. “This has to go through three phases: access, integration and personal relevance. Today, were in the access phase of hosting software. The next step is a loose federation of Web services, coupled by XML. The key then is relevance to the user. If you are a CIO, you have to think about different audiences, such as employees, partners and customers. HailStorm may be more relevant for end users, Active Directory for employees, and some federation of HailStorm and Active Directory for partners.”
Theres no guarantee that the specific business plans envisioned by Big Software will pan out. Oracles strategy depends on customers buying a suite of software instead of best-of-breed applications, while Microsofts .Net faces competition from other would-be service platforms, including offerings from IBM and Sun. In addition, a new wave of vertical service providers could take market share away from established companies for some applications. Still, theres no question the software industry is changing for good.
Across Microsofts 2,500-employee-strong enterprise server unit, the .Net roadmap is the way forward — a sign not only of the companys commitment to creating the platform of choice for service users and developers, but also of the opportunity that it sees in the corporate market. “The biggest problem customers have is integration,” Microsofts Goffe said. “And as bad as solutions like enterprise middleware are inside the company, they completely suck when it comes to doing integration over the Internet.
“Our solution is XML Web services built on a stack of standards,” including Simple Object Access Protocol, Web Services Definition Language and Universal Description, Discovery and Integration, he said. “Some standards are still missing, but this will allow people to remotely invoke data and applications as if they were another component locally.”
Last week, Gates announced that Visual Studio .Net, a rapid application development (RAD) tool for building Web applications and XML services on the .Net Framework, would ship soon.
Gates also said that due to customer demand, a prerelease version of Microsofts XML Web services engine, .Net Framework beta 2, will be available for use in production environments. The .Net Framework will be downloadable for Windows 2000 Server products. .Net servers are due early next year.
How customers will gain access to the software remains an open question. “We have no idea how much of our server software will be delivered as a service. We cant say how much revenue will shift when,” Microsofts Krossa said. The goal is to make it ready to support services from any location.
And ASPs may yet turn out to be an important channel. “ASPs are a part of our partnership community,” Microsofts Rogoff said. “The potential is very high, though probably not what we thought two years ago.”
Microsoft has spread some cash around the industry, including a $50 million investment in USinternetworking in late 2000. With that investment, Microsoft became the default platform for USis application services and, perhaps more important, got a front-row seat on the enterprise ASP business.
Microsoft has varying levels of ownership and partnership with numerous other ASPs as well; so far, hosted versions of its Exchange software represent the companys most successful entries into the marketplace. There have been false starts, with some partners asking for Office online in the early days. “They didnt see the huge deployments they expected, because customers already have Office,” Krossa said.
ASPs are just one group of partners upon which Microsoft will rely to build its services business. The .Net strategy is largely about getting partners to develop services that run best on the Microsoft platform, much as developers helped seal the dominance of Windows. “Its really about partnerships, not new pieces of software,” Krossa said.
Thats a sensible path to take, Gartners Pring said. “The No. 1 thing they have done well over all other companies is work the partner channel,” he said. “Thats the honey pot around which so many bees buzz.”
Partners are also important to Microsofts new bCentral brand of applications for small businesses. “Theyre critical — a majority of our sales may come through partners,” said Erin Hiraoka, bCentrals director of marketing. BCentral delivers its services via an eponymous portal and at cobranded sites with partners including Compaq Computer; Office Depot, which is also selling the services in its stores; and Rivio. BCentral will use Microsofts Passport authentication service and other HailStorm services.
A monopoly is a terrible thing to waste, and Microsofts strength on the desktop is a critical element for bCentral. “Our next phase is closer integration with Office,” Hiraoka said. “With about 90 percent penetration in small businesses for Word and Outlook Express, the ability to attach to Office as a key client is huge.”
Hiraoka said there are about 60,000 paid users among the 1.6 million registered bCentral users; revenue from ad sales currently outpaces service revenue. About 300 people work under the bCentral rubric, with more than 200 of them building applications. Some services, such as ad buying, are billed as one-time transactions, while a financial management tool, for example, carries a monthly fee based on the number of users.
Accounting applications from Great Plains Software, the services-savvy small-market vendor that Microsoft purchased earlier this year, will be available from bCentral in the future. Again, not everything has to be hosted. “An offline Great Plains product could be an integration point for data,” Hiraoka said. “We see a huge opportunity for growth, not just in hosted, but in server-based business applications.”
Not everyone is convinced that desktop software will become Microsofts beachhead for services. And Pring emphasized that Microsofts dominance in the desktop era is a two-edged sword. “Nobody likes the idea of them being the gatekeeper or Big Brother, somehow managing to become the operating system of the new supernet,” he said.
On the other hand, the network effect and plain old herd instinct could work Microsofts way. “In the Web services war thats brewing now, its VHS vs. Betamax all over again,” Pring said. “If you choose Microsoft over Sun, its a 10-year decision, so logically youd go with Microsoft just because of the safety in numbers.
One area in which Microsoft has some definite market leadership is in software pricing. While most established software companies continue to sell licenses for their products, Microsoft is moving to a subscription model, not just for software delivered as a service, but for the client software as well. “Software as a service includes updates and fixes that may come from the cloud,” Rogoff said. ASP customers are also being allowed to pay based on usage.
The shift to service pricing could have a major financial impact on the company. “Their entire mission in life is to annuitize their business and get off the upgrade cycle roller-coaster,” said Art Russell, senior technology analyst at Edward Jones in St. Louis. “Historically, theyve seen huge spikes in revenue on a new product release, and then it tails off. Smoothing out their business model is good from a financial standpoint.”
Oracle.com, the successor to the business online brand under which Oracle first sold its managed application services, is a major priority at the companys imposing headquarters in Redwood Shores, Calif. One example: Oracle salespeople are getting a 10 percent bonus over their regular commission for selling software as a service.
The company is changing its culture and mentality to become more services-oriented, Oracles Chou said. “We are moving people from patch-chasers to application managers. The old way is you patch it for each customer, onesy-onesy — nothing wholesale about it, and the cost is astronomical.”
Oracle wants companies to use its entire applications suite, modifying their processes to fit its software, rather than vice versa. And it expects the integrated world of the services model to encourage companies to conform. “We build all the software, so we dont spend a lot of time integrating the pieces together,” Oracles Burton said. “If you use online services, it costs you less money.”
The trade-off is the lack of user flexibility. “In the hosted world, you cant do everything the customer wants,” Burton said. “There have to be constraints, because that is the only way to scale. Youve got to minimize the choices, and companies need to change to more standardized business processes.”
Will the services suite approach work? Maybe. “Oracle is trying to do what Microsoft did in the productivity market by bundling everything into a suite,” Russell said. “Some companies will sacrifice for ease of use and lower cost of ownership, and over time they will make the product better. At the end of the day, people will like having software from a single vendor.”
But because some companies want to stick with applications from multiple vendors, Oracle is working both sides of the street. Ellison used to say Oracle applications would be sold by third-party ASPs over his dead body. He relented last year.
“They display a fairly obvious case of schizophrenia,” Gartners Pring said. “Oracle is run by such aggressively commercial people, and at the end of the day, they sell what they can. They will track customer interest and tie in with what works.”
Oracles change of business has been good for Qwest Cybersolutions, a unit of Qwest Communications International and one of the healthier ASPs. “The software vendors used to call all the shots, but now its different,” said QCS CEO John Charters, who has an Oracle engagement that supports 10,000 users at one networking equipment company. “Oracle is bent on allowing us to become a reseller because we built market momentum. Customers arent going to buy all their software from one vendor.”
Still, Chou said third-party ASPs are merely information technology outsourcers, and that only vendors can deliver the true benefits of managed software. “The intellectual property at a software company is its fundamental infrastructure for delivering business processes,” he said. “Thats how you get the enormous benefits on time and cost.”
No matter which company delivers it, Oracles enterprise software is still priced on a licensed basis, rather than the rental model associated with services. Large companies generally prefer to own software, and Oracle likes to sell big-ticket licenses. And, Oracle argues, the availability of perpetual and limited-term licenses, along with financing options, provides users with the same financial benefits as rental. “Oracle financing is useful as we move into more medium-sized businesses who can afford our applications for the first time because of the lower support costs,” Burton said.
The story is different at the small-business end of the market, where Oracle is trying to establish a foothold. Burton said that Oracles Sales OnLine has 20,000 customers.
The software itself is also changing to be more Web-friendly. “Were making our software easier to use for large and small businesses,” Burton said. A hosted procurement and payment service was announced in mid-June, for example, while hosted customer relationship management applications can now be up and running in 90 days. The CRM offering has not yet set the market on fire, Burton admitted. “A number of customers are interested, but we have not begun implementation,” he said.
Database services could be provided by Oracle or third-party ASPs, or as part of a specialized vertical offering. Oracle would like to do it all, but the market will decide how the services will actually be delivered. Regardless, a major change for Big Software is under way.


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By Brittany Shammas
Liza Pulitzer had her eye on brightly colored beach chairs that debuted Sunday as part of the hotly anticipated collaboration between Palm Beach-inspired fashion label Lilly Pulitzer and big-box retailer Target.
But even she — daughter of the company’s iconic namesake — couldn’t get her hands on one.
The line of shift dresses, swimsuits and housewares in eye-popping colors and patterns flew off shelves at stores within minutes of going on sale. Online, shoppers didn’t fare much better: Website issues meant many were unable to make purchases.
“They looked wonderful,” Liza Pulitzer said Monday of the chairs. “I probably would have had to stand in line at 3 in the morning.”
She told the Sun Sentinel she thought her mother, a near-lifelong Palm Beach resident who died in 2013, would have been thrilled to see the excitement surrounding the 250-piece collection. Across the country, Lilly lovers lined up outside Target stores hours before the doors opened at 8 a.m. Sunday. Others stayed up all night in hopes of snagging items online.
“She would have loved the fact that everybody wanted to get something, a piece of Lilly,” said Liza Pulitzer, 58, a Realtor in Palm Beach.
Known for its wild patterns and splashy colors — especially pink and green — the Lilly Pulitzer brand has its roots in Palm Beach. It began in 1959, when women fell in love with the simple, boldly patterned dresses a young Lilly Pulitzer — wife of publishing heir Herbert “Peter” Pulitzer Jr. — made to hide stains from the orange juice she sold for fun.
The company closed in the 1980s, but re-emerged a decade later with a new owner. Now run by Oxford Industries, the brand has become increasingly popular in recent years, with customers embracing its loud prints and its fun-loving, party-throwing namesake’s philosophy that “being happy never goes out of style.”


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Screen-Addicted Kids: How Moms Deal
Almost 55 days. 1,314 hours. That's how much time a typical child under 10 spends in front of a screen each year, according to a new online survey of 500 moms conducted by Parents and Asurion, which partners with wireless carriers and retailers to help customers quickly receive a replacement or repaired device, and provides support to set up and optimize your technology.
Parents partnered on the survey because we were curious how much time kids are really spending on smartphones, tablets, TVs, gaming systems, and computers (excluding homework)—and how concerned parents are about such heavy exposure. The answer on both fronts? A lot.
On average, kids log 217 minutes, or 3.6 hours, of screen time per day. (No wonder the American Academy of Pediatrics recently dropped its recommended two-hour screen limit for kids: It simply wasn't feeling realistic in the digital era.) Even with possible underreporting—did respondents really count double screen time when a kid was watching TV and playing on a tablet simultaneously?—that's a big number.
Plus, parents find limiting kids' use of devices is a huge challenge. When asked about tasks that are easier to get a child to do than stop using screens, respondents said: go to bed (29 percent), eat their veggies (26 percent), do their homework (25 percent), and be nice to siblings, do their chores, and clean their room (23 percent each). That's pretty telling about how much kids love their screens.
- RELATED: Managing Your Child's Screen Time
According to the study, moms are clearly concerned about digital addiction and other technology pitfalls: 60 percent worry about allowing too much screen time; 59 percent are anxious their kids could accidentally be exposed to or access inappropriate content; 40 percent fear their kids may be contacted or followed by strangers online; 28 percent suspect their children might make unauthorized purchases; and 25 percent think their children might use social media without permission.
Fortunately, most moms are being proactive about protecting their kids: 78 percent—including 85 percent of millennials—say they or another adult supervises most or all of their child's screen time. More than seven in 10 have password protection on their devices (and their partner's); 60 percent have set purchase authorization controls for apps and websites; and nearly six in 10 turn off location identification from social media when posting about their kids.
Still, parents could be doing better (and more). Less than half of moms surveyed said they have set up parental controls or filters on browsers to make sure their kids visit safe sites. The same is true for setting up screen time limits on devices (43 percent), disabling virtual public chatting within online games (42 percent), and setting up parental controls on Wi-Fi to control content (42 percent).
Many moms also admit they could use a little help managing their family's digital life, such as with setting up parental controls (42 percent), securing their Wi-Fi networks (38 percent), or securely managing and storing content in the cloud.
It's no surprise parenting in today's digital world is a sizable challenge. As with safeguarding our children's health, nutrition, and education, the monitoring, limiting, and protecting of their screen use is yet one more addition to our already endless to-do lists. Luckily, it seems most of us already have it marked down—and at least partially—checked off.
David Sparrow is a senior editor at Parents and a dad of two kids who have steered clear of online problems (so far).


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We're running out of sand, and the shortage will drive up prices
Sand is an important part of the global economy and we're running out of it. There's even a black market for sand. Sand is used to make glass and electronics, and in fracking. Much of the world's construction is reliant on sand as well for concrete. A shortage could drive up the cost of homes and buildings.
The era of easy money is over. The Federal Reserve is poised to raise interest rates Wednesday for the second time this year. The hike will hit short-term loans first, like credit cards and car loans.
The number of households on food stamps has fallen below 20 million for the first time since 2010. The USDA says the downward trend in enrollment has only continued over President Trump's first year in office, keeping on pace with the stable decline in food stamp participation since 2013.
Used car prices are at a record high. Higher gasoline prices have boosted interest in smaller cars, which is one of the things driving up prices.


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Canadian bitcoin exchange CoinTrader has shut down its operations. By the look of things, there is no indication that the exchange will resurface at a ...
Canadian bitcoin exchange CoinTrader has shut down its operations. By the look of things, there is no indication that the exchange will resurface at a later time, either.
CoinTrader, a Canadian bitcoin exchange that – in addition to its exchange platform – also has BTM ATM machines in London and Tokyo, along with point-of-sale systems called CoinZero has “closed its doors” with immediate effect.
The home-page of the website simply reads:
CoinTrader.net has closed its doors effective immediately. Customers with balances will be contacted by email, mail or telephone to settle your account. We sincerely appreciate your business over the years. Questions can be directed to [email protected]
A quick search of CoinTrader’s social media accounts shows that its official Twitter account is also offline, while a lookback reveals activity from November 2015.
CCN.com previously reported on CoinTrader’s acquisition by publicly traded Newnote Financial, in a cash and stock deal for $1.5 million in March 2015.
At the time, CoinTrader was the second-largest Canadian bitcoin exchange by volume and the first in the world to be traded publicly on multiple exchanges around the world, via Newnote Financial.
In addition to the unexpected announcement from CoinTrader, Newnote Financial Corp’s website is also barren, as things stand, with a message that states: “something cool coming soon. The Newnote website will be available soon.”
It is yet unknown as to how management or those responsible at CoinTrader plan on looking into the feasibility of reaching out to every customer individually to settle their accounts.
CCN.com has contacted CoinTrader for a comment on its unexpected closure but a representative was unavailable at the time of publishing.
Featured image from Shutterstock. Twitter screenshot from Web Archive.


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- 16,184 Posts
T-Mobile USA offers $0 down on new iPhones, iPads
T-Mobile USA announced Tuesday that it's offering $0 down to qualified customers interested in buying a new iPhone 5s, iPhone 5c, iPad Air, iPad mini or iPad mini with Retina display. The plan starts Wednesday, December 11, 2013 and will be available from T-Mobile dealers and online.
Full story from the iMore Blog...
- By erikbock in forum IntroductionsReplies: 21Last Post: 12-21-2013, 12:21 AM
- By Daniel Bennett1 in forum iPhone 5cReplies: 6Last Post: 12-11-2013, 01:29 PM
- By librarianlily in forum iPhone 5cReplies: 2Last Post: 12-10-2013, 06:28 PM
- By Liviu Andrei Grigore in forum iPhone Apps & GamesReplies: 1Last Post: 12-10-2013, 02:23 PM
- By iMore.com in forum iMore.com News DiscussionReplies: 0Last Post: 12-10-2013, 01:30 PM


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Tobacco companies Philip Morris and Altria are discussing a merger that would reunite the Marlboro maker with the parent company that sold it off a decade ago.
The two companies confirmed they were discussing an all-stock merger but said there was no guarantee a deal would be reached. They added they would “make no further comment regarding the discussions unless and until it is appropriate to do so”.
Altria spun off Philip Morris International (PMI) in 2008. It sells Marlboro cigarettes in the US and has largely focused on its domestic market while PMI has focused on selling cigarettes overseas.
PMI was valued at $121bn before the news and Altria at $88bn. A possible merger has been predicted by analysts who have speculated the two companies could get back together as they fight falling cigarette sales and the rise of vaping.
Last year Altria paid $12.8bn for a 35% stake in Juul Labs, maker of the popular electronic-cigarette. Over the past year the e-cigarette category has grown 97% to $1.96bn and, according to Wells Fargo, Juul’s sales grew 783% between June 2018 and June this year, reaching $942.6m.
Altria has also made moves to enter the cannabis market as more US states legalize the drug. Last December Altria bought a 45% stake in Canadian cannabis firm Cronos Group for about $1.8bn. Cannabis is now legal in Canada and fully legal in 10 US states and the District of Columbia.
PMI, too, has moved to diversify away from cigarettes and has invested heavily in Juul-rival iQOS, a device that heats tobacco rather than burning it. The device is now on sale in 48 markets around the world and will be launched in the US next month after winning approval from the US Food and Drug Administration. PMI said it has about 11 million iQOS users globally.
In July PMI lowered its earnings forecast and warned the company was facing lower than expected demand and shipment volumes would decline 2% in 2019.
Rival British American Tobacco (BAT) finalized its takeover of Reynolds American Incorporated in 2017, creating the world’s largest tobacco company. That merger too was driven by falling sales and the rise of e-cigarettes and vapes.
According to the World Health Organization (WHO) about 1.1 billion people smoked tobacco in 2015. WHO estimates smoking leads to 6 million deaths a year. Thanks to public health initiatives, taxes and other regulations smoking is on the decline in many parts of the world but WHO points out that smoking is on the rise in the eastern Mediterranean region and across much of Africa.
PMI’s shares fell 8% following confirmation of the talks, while Altria’s shares rose by nearly 8%.


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Our Best of the Best Awards are fast approaching and tickets are selling quickly so nab one while you can for the industry’s most spectacular awards night!
One of our incredible sponsors for the event is Forbes Australia. So we caught up with the company’s group sales director Ben Pellow to discuss why Forbes is sponsoring B&T’s Best of the Best awards presented by Finecast…
B&T: What drew Forbes to sponsoring B&T’s Best of the Best Awards presented by Finecast?
BP: There are two reasons. Firstly, sponsoring the awards is our way of committing our support to the industry and the Australian market. We feel a personal responsibility to champion our industry’s elite and to show that support. That brings us to reason number two which is Forbes Australia talks every day to Australia’s elite, not just from a wealth perspective, but we speak to the best of the best in finance, business, and entrepreneurialism. So what better award could we possibly sponsor than the Best of the Best?
How does Forbes encourage and promote staff to reach the level of the best of the best?
As a senior leadership team at Forbes Australia, we’re committed to hiring and fostering the best talent in the business. Everyone who works for Forbes has a common belief in the brand and a respect for its heritage, but most importantly, a clear and aligned vision of where we’re headed. By having this shared vision from the ground up, our staff feel included and invested in the company’s direction. I believe it’s this combination of transparency and ownership that drives people from going from being a great employee to being an industry-leading talent and that’s what we’re trying to foster here at Forbes Australia.
We have a new category this year called diversity champion. What kind of worker could we expect to see win this award?
I guess the greatest part of having a Diversity Award is that I shouldn’t have a clue what the winner looks like or what they do. I think a diversity champion to me would be anyone who can look at themselves in the mirror at the end of the week and know that they’ve made a positive impact in their workplace and amongst their colleagues. They don’t necessarily need to be at rallies and waving signs to make a difference. I think it all starts with being a good person to those around you. Not forcing your beliefs on anyone else and respecting other people’s beliefs is a great way to start regardless of what side of the political bed you wake up on. I’m very excited to see the shortlist for this award.
The Best of the Best awards presented by Finecast focuses on the highest performing individuals in the media and advertising industry rather than a business or an entire agency. What is it about this aspect of the award that Forbes Australia felt was so important to the industry?
Having spent 15 years on the commercial side of the media game, I can honestly say that marketers are more in the driver’s seat than ever before. The advances in tech and the strides that we’ve made globally, especially in attribution modelling, have shone a big light on how the efforts of marketers directly influence the commercial performance of the business. Some of Australia’s largest and most recognised businesses are being directed and driven by the insights garnered and the decisions made by the very people who will be receiving nominations and awards in September. Forbes Australia recognises the impact that the media industry has had in driving our economy forward, especially through the somewhat difficult last few years, and we feel it’s important to acknowledge and reward the individuals who have contributed to this.
On that same note, why do you think it is so important for businesses to promote individual achievement?
Championing entrepreneurial capitalism is a core value of Australia, but entrepreneurs aren’t necessarily independent operators. Some of the most creative and strategic thinkers are working day and night for companies or brands, continually pushing the boundaries and discovering new and often profound revenue streams. Forbes exists for that very reason. To champion the success of the people behind the brands, because people bring ideas. That ambition and drive to lead, innovate and create change is what sets the Best of the Best apart, and why we are proud to join you in recognising the standout performers in our industry.
Get tickets to B&T’s Best of the Best awards HERE.
Nine’s The Block burst back onto the scene last night, and interestingly its regional move has translated into more regional viewers. This season of The Block isn’t based on apartments or inner city semis. Instead, The Block has gone rural. The contestants are renovating five separate homes, each on 10 acres of land outside of Melbourne […]
The Masked Singer debuted last night, and Toadie made his debut post Neighbours. Neighbours ended this year, almost cracking a million for its finale and then cracking over a million in BVOD views. Ryan Moloney, aka Toadie, has starred in Neighbours since 1995 and has been a much-loved fixture on our television screens. However, there’s been […]
Brand extension agency Asembl has partnered Streets’ iconic ice-creams with Australian home fragrance, candle and oil diffuser specialist, dusk for a dreamy creamy fragrance range. Now online and launching on Thursday August 11 2022 in dusk stores across Australia, the range including candles, MoodMist fragrant oils, tealights and melts is the very first time these […]
WPP has increased its annual net sales outlook after strong client spending in travel, tech and healthcare sectors boosted pretax profits in the first half of 2022. The world’s largest advertising group announced it made £6.8 billion ($A11.8 billion) in half-year sales and reported a 10.2 per cent increase from the previous year. Pretax profit […]
ROLLiN car insurance has partnered with creative studio Bear Meets Eagle On Fire (BMEOF) to create a 16-part mini-series celebrating important dates in hip hop history. Building on the cultural cachet of the brand launch spot — which featured a yellow puppet named Larry rapping along to Digital Underground’s ‘90s classic ‘The Humpty Dance’— ‘Hip […]
The Nova Podcast Network has released its latest show, Decoding Crypto, which aims to help Aussies understand the nuances of everything from bitcoin to blockchain. Financial journalist Edwina Stott and Collective Shift CEO Ben Simpson will host the new show, explaining the key factors of the crypto revolution starting today, Monday 8 August. The show […]
Australia’s largest independent family-owned brewery, Coopers, has unveiled a brand-new look for its portfolio of naturally conditioned ales and stouts. The first major update to core packaging in 20 years, the iconic Coopers roundel has been refreshed with a modern and clear design showcasing the brand’s heritage and brewing process. The updated packaging follows Coopers’ […]
Domino’s has released an ad campaign announcing its move into burger delivery via It’s Friday. The ad is centralised around the phrase “Finally, burgers made to be delivered”, a reference to Domino’s self-proclaimed title as the experts in food delivery. Adam Ballesty, chief marketing officer of Domino’s ANZ, said: “We’re excited to be able to […]
Michael Hill Jeweller has launched a new campaign promoting its bridal range by celebrating the love story at the heart of the brand. Developed in partnership with CHEP Brisbane, the campaign leads with a film that explores the story of Sir Michael and Lady Christine Hill, from their first meeting in 1964 through to their […]
Australian media personality Russel Howcroft has re-signed a multi-year deal as co-host of 3AW’s Breakfast show, which will see him continue to partner Ross Stevenson on Breakfast for another four years. “’We are delighted Russ is committing to 3AW for the long term”, said 3AW station manager, Stephen Beers. “Ross Stevenson and Russel Howcroft have […]
10’s Masked Singer is gearing up to return, and what it lacks in seriousness, it makes up for in silliness and usually ratings. Masked Singer will be airing from Sunday 7th of August, and it is racing onto the scene after the success of 10’s Hunted. EP Tamara Simoneau chatted with B&T, about why 10’s […]
Integrated communications firm Icon Agency has been ranked the fourth fastest growing agency in the Asia-Pacific, Middle East and Africa, according to the 2022 PRovoke PR Agency ‘Fast Movers’ rankings. Icon’s fee income for calendar 2021 grew 84.3 per cent, making it the fastest-growing and largest independent agency in Australia. The Melbourne-based indy was ranked […]
Tiger Brokers, an online broker for millennials and Gen Z, is offering fans the chance to win sideline seats to Melbourne Storm’s Round 21 clash against the Titans at AAMI Park (Friday 5 August 2022). The campaign has reached its peak, and now every Australian can also have the chance to win a Melbourne Storm […]


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Facebook is mimicking the flattery of the widely popular Tiktok app, which now has 1 billion monthly users.
More than a year after the launch of Instagram Reels – a tick-ticking video feature – Facebook is bringing Reels to its core app in the United States
Reels on Facebook, such as the Instagram version (and the TickTock app), can include music, audio, and augmented-reality effects. Available on Facebook iOS and Android apps, Reel can appear in news feeds or groups. Reels on Facebook are limited to 30 seconds, whereas Instagram reels can be up to 60 seconds long.
By default, reels on Facebook are ready to be universal for manufacturers over the age of 18, but users can change settings to restrict access to friends.
Similar to Instagram Reel, Facebook said the company will soon begin testing full-screen and immersive ads in Reel (which can be commented, liked, saved, shared or deleted). The social media company will test sticker ads and banner ads on the reels on Facebook.
Also, Facebook is testing the ability of Instagram makers to recommend their reels to Facebook. Preliminary tests include a small number of Instagram creators, who will have the option to recommend their reels on Facebook.
“The ability to create reels on Facebook and their Instagram reels to advise people on Facebook, creators – whether they’re just starting out or already have a large following – will have more ways to express themselves, grow their community and reach new audiences,” a Facebook blog Announced the launch in the post.
Reel makers on Facebook may also be able to make cash from their short-sized videos. As part of Facebook’s announced plan to pay manufacturers more than 1 1 billion by 2022, Facebook is offering a reels play bonus with payments to eligible manufacturers based on their reel performance. According to Facebook, the Reels Play bonus will initially only be invited, starting in the United States and possibly expanding to other countries over time. It also intends to “explore” by combining reels with the Facebook Stars Live Streaming digital gift making program.
Content creation tools for Reel on Facebook also mimic TickTock. You can search for a song from the Facebook Music Library to include in the reel video, or use your own original audio record, as well as select enhanced-reality effects created by Facebook or third-party developers.
Reels on Facebook lets you set a timer to record clips hands-free, as well as slow down or slow down while recording video (to help stay in sync with music or create slow-motion videos). You can sew multiple clips together on a single relay on Facebook (by recording together or selecting them from the gallery).


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The Columbian coffee growers are bringing back Juan Valdez starting with the new Jim Carrey movie which opens this weekend.
"Juan was one of the most recognized symbols of global advertising before he was virtually pensioned off two years ago amid a financial crisis for Colombia's coffee industry."
Now, Juan is coming back. "But rather than advertising in sporting events as previously, Colombia's growers say they are putting Juan on the pages of hip publications such as Rolling Stone and Entertainment Weekly."
"We don't want him to become a vintage, we want him to be a living icon," said Mr. Silva.
"The growers' federation will next month award an advertising contract to run a $9 million campaign and is said to be seeking an agency with experience of marketing to 18 to 35-year-olds."


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In earnings call, Diebold unpacks a disappointing Q2
There were really no surprises in the Diebold Nixdorf earnings call on Tuesday — only explanations.
Executives spent the hour enumerating the various obstacles and events that had led up to a July 5 announcement of a downward revision to earnings expectations for the full year, a move that set up its own set of expectations for a disappointing earnings call before the market opened on July 19.
"Disappointed" was exactly the word Diebold Nixdorf CEO Andy Mattes used to express his misgivings about the company's performance to date in 2017.
"Two weeks ago we made significant revisions to our 2017 outlook," Mattes said at the top of the call. "I'm personally very disappointed and I know the management team feels the same.
Mattes said that the biggest change to the company's expectations for the year is the top line, with revenue falling approximately $300 million short of the company's initial forecast.
"The weakness is predominantly tied to our banking hardware volume which also had a direct negative correlation to our installation services business," Mattes said. "And while the recent order activity demonstrates the market acceptance of our new solutions and the competitive advantage we bring to our customers, the pace of orders to date is still short of our expectations."
In answer to analysts' questions about slower-than-expected orders on the financial services side, particularly in the Americas, Mattes cited changes in the banking industry.
The "new normal" in banking he said, was larger more complex orders — often including hardware, software and services in a single package. Purchases of this size typically require more decision time, as well as approval from more decision-makers at higher levels of management.
"So we would expect these longer project-related cycles to be the new norm and we're adjusting our thinking and our planning accordingly," Mattes said.
Other issues affecting the company's bottom line related to the integration of Diebold Inc. and Wincor Nixdorf.
For instance, Mattes said that the companies had expected that the less-dominant player in the American and European markets would experience some run-off in service contracts, but that they had not expected it to occur so rapidly.
The company quickly found itself with too many techs in one part of the market and two few in another. But laying off underutilized techs with valuable product knowledge was not an option.
"That's when the scheduling gets so important, as long as the schedules are rock solid you can plan for that. The minute that the customer accelerates one and slows down the other, our scheduling gets out of sync and you have underutilization and margin pressure."
The combined companies also encountered something of a sales blackout in the U.K. while addressing the concerns of the Competition and Markets Authority. That situation was settled only last month with an agreement to sell off the company's Diebold UK and Ireland unit to Cennox.
"The fact that we were allowed to combine our business in the U.K. for over 12 months was: a) unanticipated; and b) created a very awkward absence of our company in what's the third largest developed market in the world."
With the sell-off to Cennox, the company is now free to talk with potential customers in the U.K.
"With us being back in the market, I would also expect us to have a better opportunity to participate in that huge opportunity in that the British banks still are amongst some of the most active when it comes to technology refresh," Mattes said.
Finally, Mattes said, the company simply underestimated the amount of change and distraction that would accompany the integration of two very large companies with different business cultures operating in two very different regulatory environments on opposite sides of the Atlantic.
Needless to say, the company's competitors were not sitting still while all of these issues played out. Mattes conceded that this had cost the company some deals over the past year.
Ultimately, it all amounted to a necessary pullback in expectations for 2017. However, Mattes said that, having acknowledged the problems with execution, the company was now working to solve them.
"One of the biggest things that we've done is we've truly refocused our company in the last month on customer engagement and customer interaction," he said. "And yes, you can blame us for having been too inwardly focused, especially in the second half of last year. We've taken very aggressive actions to change that."
Companies: Diebold Nixdorf
Suzanne Cluckey Suzanne’s editorial career has spanned three decades and encompassed all B2B and B2C communications formats. Her award-winning work has appeared in trade and consumer media in the United States and internationally. She is now the editor of ATMmarketplace.com and BlockChainTechNews.com www


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The advent of the Internet of Things has brought ordinary objects to life by incorporating technology into their everyday functionality. New developments in smart technologies embrace the connectivity of the Internet to bring convenience and efficiency into our lives.
But this world of hyperconnected things is not without problems. The Internet of Things links and connects information, but does not necessarily protect it. One major concern, then, is the security of the Internet of Things, and specifically, the safety of consumer data.
There are around 6.4 billion IoT devices in use worldwide, set to reach 20.8 billion by 2020, according to Gartner. The security of these devices is a growing concern as experts find flaws in their ability to protect valuable information. A study conducted by HP found that 70% of commonly used IoT devices have severe weaknesses in their security. More recently, The MIT Media Lab hosted a Hackathon to discover the greatest security problems with smart home devices. Within three hours, hackers had taken control of 25% of devices. These findings expose the vulnerabilities in the security of IoT devices, a huge problem given that these machines also carry private consumer data.
Researchers have tested smart devices, like IoT baby monitors and Internet-connected cars, to measure their safety and security. In September 2015, researchers discovered vulnerabilities in Internet-connected baby monitors that allowed hackers to watch the monitor’s live stream and remotely control camera settings. Even more alarming are the weaknesses found in the Jeep Cherokee’s UConnect radio system. Cybersecurity researchers were able to exploit a flaw into the Jeep Cherokee’s radio and remotely take control of the car.
A Bright Future for IoT
These examples prove that the Internet of Things is still in its formative stages. Most devices were not developed with security in mind, and leave valued information unprotected. However, because of these incidents, attention focused on IoT security is actually helping to fix the problem. Researchers are taking notice of weaknesses in IoT security, and are conducting tests to reveal those limits. Here are the key findings:
- The Key to Device Security - The MIT sponsored Hackathon found that the most secure devices were ones created with security in mind. If designers integrated safeguards into the design of IoT devices, then they were much more difficult - even impossible - to break into.
- Dojo Proves Un-Hackable - MIT hackers could not break into the Dojo, or any of the home devices connected to it, proving that smart home devices can be effectively secured. Dojo is a security technology specifically designed to protect smart home devices. Devices can be connected to the Dojo network, which monitors activity levels and blocks anything that seems suspicious. Dojo’s success in securing smart homes demonstrates that a protected IoT is possible.
- Many companies are taking strides to fix security breaches…and prevent them from happening again. After the Jeep Cherokee event, Fiat issued a safety recall and installed a security update in their cars. Microsoft, too, has taken steps to increase security on their IoT devices. In September, the company announced that they would bring existing Windows 10 security systems onto their IoT devices. This push means that more security will be added to devices, increasing their safety.
The lack of security in the Internet of Things has been one of its biggest weaknesses. Devices ranging from IoT baby monitors to Internet-connected cars have proven susceptible to clever hacking. But all of this focus on the technology has proven beneficial for the future of the Internet of Things.
The key takeaway from these findings is that designers of IoT projects must keep security in mind when building devices. If designers integrate security into the basic structure of the IoT device, it becomes much easier to avoid security mishaps. And as companies and designers incorporate safety measures into their products, the Internet of Things will become a better and safer place for smart devices.


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Uber, which has had its share of issues operating in Miami-Dade County, is now hitting another roadblock in Broward. Commissioners approved a law late Tuesday that places harsher regulations on Uber and other similar app-based ride-sharing services.
Uber and Lyft have been operating illegally in Miami-Dade and Broward for months. The new law in Broward legalize the services, but Uber representatives say new regulations make it impossible for them to operate in the county.
“We are very disappointed in some of the decisions that were made,” Kasra Moshkani, Uber’s South Florida general manager told the Sun Sentinel after the vote.
Uber’s biggest concerns are the changes to background checks and insurance requirements for drivers. Each driver will now be required to submit to a fingerprint-based background check. They will also have to be covered by Florida’s commercial car insurance.
Broward Commissioner Stacy Ritter takes exception to claims that these new regulations will run companies out of town.
“If Uber leaves the county it’s Uber’s decision to do so voluntarily,” she told the Sun Sentinel. “There’s nothing in this ordinance that is onerous. Uber can comply with this ordinance without any problem. This is a company worth $40 billion, with a ‘B’.”
The company says it has to review what passed before making any decision to leave.
In Miami-Dade, the commission is set to take up Uber regulation next month.
Taxi companies and drivers have mobilized against Uber’s move into South Florida. They cite safety as concern. Meanwhile, riders like the convenience of using their phones to summon a ride as well as the cleanliness of the cars.


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What you need to know
- Diablo 4 is the next installment in the legendary action RPG series from Blizzard.
- A rumor over the summer suggested that Diablo 4 may be getting revealed at The Game Awards in December, and we now have some tentative corroboration.
- Reported on the XboxEra podcast and corroborated by our own sources, it seems Diablo 4 could be targeting an April-June 2023 launch window.
- Diablo 4 preorders will go live during The Game Awards 2022 if the rumors are correct, alongside various digital editions and a premium collector's edition with some rather fiery goodies.
Update (Dec 12, 2022): Confirmed!
Diablo 4 preorder editions were officially revealed at The Game Awards, per our earlier exclusive information. The various editions contain many cosmetic items for various Blizzard games, as well as the Collector's Edition candle and candle holders as previously reported. The game will officially launch in June 2023, complete with early access to the game's beta for those who preorder.
Update (Dec 2, 2022): Launch date shift?
Reports from Insider Gaming suggest that journalists and influencers have been given access to the game early, with a preview embargo set for December 7 ahead of the December 8 game awards. Insider Gaming also confirmed our report below that The Game Awards will play host to a range of Diablo 4 announcements, most likely the launch month, the collector's edition (which has some kind of candle, if my rumors are accurate), as well as early-access to an open beta slated for February 2023.
Additionally, I've heard the earlier reported April 2023 launch date for Diablo 4 might have represented the earlier end of a launch window, with some recent rumors I've received suggesting the launch date could in fact be June 2023. It seems that either way, we'll be playing Diablo IV before the summer at this rate. It seems the open beta that was previously listed for February may have also shifted with this small delay. We'll most likely find out more at The Game Awards on December 8.
Original Article (Nov 6, 2022)
Diablo 4 (also known as Diablo IV) is already officially slated for 2023, but now we may have narrowed it down to a specific month.
Diablo 4 is the latest installment in Blizzard's legendary action RPG franchise. Set in the gothic world of Sanctuary, players are caught in the crossfire between the forces of heaven and hell, whose eternal war threatens the world of the living. Diablo 4 promises to return to the franchise's hardcore, dark roots, taking on feedback from Diablo 3's oft-criticized "cartoony" appearance. Diablo 4 looks bloody as hell, (and bloody awesome too), and it could be launching a little sooner than perhaps some had expected.
As discussed on today's XboxEra podcast, the team there revealed the possibility of Diablo 4 launching in April 2023. We can also tentatively corroborate the April 2023 launch window via our own proven sources, alongside some other details.
Rumors appearing over the summer revealed that Diablo 4 would be announced at The Game Awards, originally leaking via the /r/classicwow subreddit. We have seen additional evidence that appears to confirm this rumor, alongside various beta windows.
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According to XboxEra and our sources, Blizzard is planning a sizeable marketing blitz for Diablo 4, starting at The Game Awards 2022 where the game's spring launch window should be revealed. Additionally, preorders should open too during the show, including various digital editions and a premium physical collector's edition with various goodies for hardcore fans. If our information is correct, one of the preorder benefits will be early access to Diablo 4's open beta in February 2023.
Although there was likely little doubt about this, we can confirm that Blizzard is planning a season-based live service for Diablo 4, supported by microtransactions (MTX) as the company has previously discussed on its official blog. According to our information, Season 1 is tentatively scheduled for Q3, despite the game launching in April.
Microsoft is currently working to acquire Activision Blizzard for $69 billion dollars. Microsoft has previously commented that it aims to close the deal by the summer of 2023, meaning that there's a non-trivial chance that Diablo 4 could hit Xbox Game Pass by the time Diablo 4's first season launches towards the end of the summer. Diablo 4 could be a silver bullet for Xbox Cloud Gaming and PC Game Pass growth — given the game's phone-friendly fixed camera isometric perspective, and Diablo's PC legacy.
Blizzard has been on an upward trend lately, after a tumultuous few years. Overwatch 2 is on the up and up, and World of Warcraft: Dragonflight is slated to launch in the next couple of weeks. Diablo Immortal has been generating crazy revenue too, despite criticisms of its monetization. As I teased over the summer, Hearthstone also just announced its next expansion, which includes a new Death Knight class.
As always, plans can shift and change, so you should always take rumors like this with a pinch of salt. But we're pretty confident about this one. You should definitely keep an eye on this year's Game Awards 2022 show to find out if it's all true on December 8.
Jez Corden is a Managing Editor at Windows Central, focusing primarily on all things Xbox and gaming. Jez is known for breaking exclusive news and analysis as relates to the Microsoft ecosystem while being powered by tea. Follow on Twitter @JezCorden and listen to his XB2 Podcast, all about, you guessed it, Xbox!


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30.10.2020 | The court ruled that a price mistake does not bind the seller (insofar that the terms allow that); the retail chain was accompanied by Advs. Yoav Caspi and Rachel Zilberfarb-Schreiber
The court ruled that the international retail chain is not bound to honor the transaction, which was beneficial to the customer, and emphasized that the detailed terms which are adjusted to the online acquisition website – lead to the chain’s victory.
The international chain USHOPS was accompanied by Advs. Yoav Caspi and Rachel Zilberfarb-Schreiber from our Commercial Law Department.
For the coverage:
The translation was executed courtesy of Tomedes Translations


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I'm a huge user of to-do list and productivity apps, and after have tried some of them, today my daily app for tasks is Todoist. Because of that I'm proud to feature the amazing work they did in redesign its logo and interface.
The comprehensive web and Mac app redesign is not limited to simply the look and feel of the software. Todoist’s web and Mac app update will also be accompanied by important back-end improvements that will bring the apps up-to-speed with Todoist’s other recently updated platforms. Namely, Todoist’s web and Mac app users will now have access to the Quick Add date parser that was released earlier this year for Todoist’s iOS and Android apps.
Nearly a year’s worth of iterations have culminated in the unveiling of Todoist’s beautifully fresh and all-encompassing rebranding. The rebranding, released today, includes a brand new logo, new typography, cleaner user interfaces, refreshed web pages, and a myriad of updates and feature additions to the popular Todoist web and Mac apps.
If you're not a Todoist user now, it's worth to give a try at todoist.com.


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Greenhouse Of Walled Lake, a Michigan-based dispensary, has partnered with cannabis manufacturer Choice Labs to offer the prize. Interested couples will need to fill out a form online before the end of April and explain why they want to win.
The ceremony will happen at the Greenhouse grounds, which will be transformed into a wedding venue with the assistance of wedding planner Haley Makay.
“We’re seeing a generation choose weed over booze, even when it comes to traditional celebrations like weddings. Move [over] ‘open bar,’ hello ‘bud bar,’” said Greenhouse owner Jerry Millen.
In addition to a bud bar, the wedding will also feature an infused chocolate cake and the throwing of weed leaves instead of rice. The winners will be announced in early May and the contest is open to those who are old enough to receive a marriage license. No purchase is necessary.
Whoever wins the prize won’t be the first to tie the knot with an ode to cannabis.
In 2020, a Florida couple exchanged vows at a medical cannabis shop, Columbia Care Dispensary, in Cape Coral. The couple was first introduced to the plant after the groom was diagnosed with cancer and turned to pot to cope with the side-effects of his medical treatments.
With his cancer in remission, the couple viewed the wedding as a chance to awareness about medical cannabis.
That same year, a Colorado couple who work in the cannabis industry also celebrated with a weed-themed wedding. Guests could partake in a selection of dried flower and edibles, and pipes and bongs were on hand.
“I wanted to have a different wedding, one that represented our love. We are very non-traditional in some ways so the cannabis-themed wedding was important,” the bride said, who was handed a custom wedding bong from the officiant after exchanging vows.
Read more at


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tech2 News StaffSep 03, 2014 13:16:29 IST
Electronics giant Samsung said it will offer educational content to school students and aspirant of competitive exams through tablets and smart TVs. Users can download the app from Android Play Store and purchase content for class 1st-12th for CBSE board, priced between Rs 2,000 and Rs 4,000.
"This is in sync with the Prime Minister's vision of inclusive education. Technology can play a big role in the sector. With this launch, we are targetting the over 36 million students in private schools, who can benefit from our solutions," Samsung Electronics Director Media Solutions Centre (South West Asia) Tarun Malik told PTI.
Samsung will start offering content for other boards like ICSE in the coming quarters, he added. "The content is optimised for tablets and smart TV screens. We will wait to see the response to these and then if need be, we will also bring in solutions for smartphones," he said.
Samsung will pre-embed the app in its Galaxy range of tablets. The Korean firm will also use its retail network to sell SD cards with the content through its network. Asked if the firm would partner schools or focus on individual students, Malik said it would be a mixed approach.
"We will target both parents and schools.There would be a mass campaign as well," he added.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.


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For Immediate Release
Pepco has asked the District of Columbia and Maryland Public Service Commissions for approval to distribute $48 million in bill credits to its 750,000 customers as a result of an earlier legal settlement with Mirant Corp., the company that purchased Pepco's power plants in 2000. This equates to $23 million for District customers and $25.1 million for Maryland customers.
If approved, the typical residential customer in Maryland would receive a one-time bill credit of $20. A typical residential customer in the District would receive a $16 credit.
In filings Friday with both commissions, Pepco also sought permission to fund a special account with money from the Mirant settlement to pay the above market cost of a power-purchase agreement that runs until 2021.
In 2001, Pepco customers were credited with a share of the profits from the sale of its power plants. The additional $48 million proposed credit is based on the same divestiture sharing formula originally approved.
Pepco, a subsidiary of Pepco Holdings, Inc. (NYSE: POM), delivers safe, reliable and affordable electric service to more than 750,000 customers in Maryland and the District of Columbia.