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Ben Kaufman, founder and CEO of the New York City startup Quirky, is stepping down, the company announced Friday evening.
For more than a month, the company has been struggling to raise funding for its main invention platform, as well as for Wink, Quirky's Internet of Things subsidiary.
"In light of our ongoing strategy to focus our efforts and resources on Wink, our founder, Ben Kaufman, will no longer serve as the CEO of Quirky," the announcement reads.
Kaufman made it clear on Twitter that he won't be leading either Quirky or Wink: "Left both companies," he writes. "Everyone is in good hands."
The news comes not long after Business Insider reported upcoming layoffs as the company struggled to raise a new round of funding.
At the time, Quirky, which aims to "make invention accessible," said that it was considering the additional reduction in headcount and other cost cutting efforts to support the growth of Wink.
"Unfortunately, we have not been able to obtain sufficient funding to enable us to continue to operate our business at the current levels of staffing," Kaufman wrote in a memo to employees at the time.
It's unclear whether Quirky has successfully raised that round of funding (Business Insider has reached out for comment and will update when we hear back).
The company's fundraising has been complicated, in part because Quirky has two businesses: Its invention platform and the smart-home platform Wink.
Because of the lack of synergy between the two businesses — both of which are unprofitable— Quirky tried to sell Wink earlier this year.
Those efforts ended after the company had to do an expensive nationwide recall of its Wink products because of a "completely preventable" security error.
Earlier this month, Kaufman told Fortune's Stacey Higginbotham that Quirky had $12 million left in the bank and planned to either raise "no less than $15 million" for Wink, raise enough money for Quirky to support both businesses, sell Wink, or sell both Wink and Quirky.
The company has raised $185.3 million in funding so far and has had a tumultuous year including multiple rounds of layoffs and the shuttering of its San Francisco office.
"Ben has always been, and continues to be, deeply committed to the spirit and values of Quirky's community of creative people around the world, as well as its inventors and its partners," Kaufman's resignation announcement reads.
The headline of the post: " The Least Important Ex-CEO."
The title harkens back to an ad campaign Quirky held in 2013 that plastered pictures of Kaufman on billboards and taxis, declaring him the "world's least important CEO" and giving out his phone number.
The idea was that Kaufman wasn't important because Quirky's strength lies in its online community.
The company gives regular people the chance of becoming a bona-fide inventors by submitting ideas to its website.
Ideas were reviewed and voted on by Quirky's staff and the community, and popular products were selected for manufacturing. Quirky took over the design, manufacturing, marketing, and retailing of those products. Community members who helped bring the product to life were given a cut of the sales. Quirky aimed to turn napkin sketches into real products.
"Ben continues to believe in Quirky's core mission to make invention accessible and believes that mission will live on," the announement contines. "Effective immediately, current Chief Financial Officer Ed Kremer will be the CEO."
Kremer joined the company in September 2014.
"We got a CFO in here who knew what the hell he was doing, and he told us a harsher reality than anyone else would tell us," Kaufman previously told Business Insider. Kremer took a toll of the company's financials and went into "fix-it mode."
Quirky decided to scale back in a few ways.
It had a round of layoffs (which, compounded with cuts in November and December, amounted to more 20% of the company), decided to stop making so many products, and shut down its ecommerce site. A new initiative, called Powered By Quirky, would align the startup with major brands like Mattell and headphone maker Harman and help those corporations figure out new products to launch. Quirky itself would only manufacture products in three categories: "connected home," "electronics," and "appliances."
All told, Quirky had an overall burn of $150 million on net-losses of $120 million and realized that it's founding business model had broken at scale.
By February, the startup decided to hire bankers to help it either sell Wink or raise new outside investment. But the process of selling or raising money for Wink was "moving along," Kaufman p reviously told Fortune, until the Wink recall put those efforts on ice.
Today, community members comment on Kaufman's resignation letter with support.
"This makes me very sad," someone with the username Teri Frantz writes. "Best of luck to Ben in his next adventure."


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Northbridge dealership Centre Ford has gone into voluntary liquidation after the business, which operated for more than 30 years, was unable to find a buyer.Centre Ford director and dealer principal Steve Katopodis appointed Crowe Horwath principal Mervyn Kitay last Friday.Mr Kitay said Centre Ford owed about $1 million to suppliers and between $300,000 and 400,000 to its employees.
“I’m aware that the director had tried for some time to sell the dealership as a going concern, but this endeavour failed. This led directly to the closure of the business and my appointment as liquidator," he said.
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India’s “Aakash” project, a tablet billed as the cheapest computer in the world, hopes to revolutionize learning in Indian colleges and universities. We’ve been following the ups and downs of the Aakash project closely here at India Ink and were delighted when we were allowed to test drive the new, improved version, known as the Aakash-2, at the ministry of Human Resources Development.
Euphoria over a cheap tablet with a “Made in India” label grew after the Human Resources Development Ministry unveiled the Aakash in October 2011. But unresolved issues among various parties involved in the project seemed to have derailed it. Now it seems to be back on track.
Dozens of the new tablets are being field-tested now by teachers across India. A commercial version, known as “UbiSlate,” is being made by the same manufacturer behind the Aakash-2 and is expected to be on the market soon.
The Aakash-2 will be available to Indian students through 20,000 colleges and 416 universities in the country, at a subsidized price of 1,132 rupees, or about $21. The commercial version of the product will cost between 3,499 rupees and 4,299 rupees.
As might be expected with a low-cost device, it comes in any color you choose — as long as that color is black.
At a weight of less than a pound, the rectangular tablet is heavier than a mobile phone but fits comfortably in one hand. The back of the device is made up of rubberized plastic, which keeps the device steady in your hand.
The front is entirely made up of the shiny, seven-inch-long capacitive touch screen, an improvement over the original Aakash, which had a resistive touch screen. (A capacitive screen is more responsive and allows for the use of more than one finger to navigate). Navigation on the Aakash-2’s screen was simple and fast, needing only a light touch.
On the top right-hand corner of the touch screen, a panel displays information about volume, Wi-Fi connectivity, battery status and the time. And a menu icon along with another icon, which takes you back to the home screen, in case you wander elsewhere while navigating.
The new version has 256 megabytes of RAM, just like the old one. There is one USB port, a headphone jack and a small slot for a memory card, which can expand the external memory to 32 gigabytes. There are tiny slits along the periphery too, which are part of the design – they were created to release excessive heat from the tablet. A round button tucked along the right side switches the device on and off.
The charger port is a tiny hole with a pin in the center, and the charger that comes with the device looks like an older model Nokia phone charger.
On the inside, Aakash-2 has been upgraded: the internal storage capacity of the tablet was increased from two gigabytes in the original Aakash to four gigabytes. The operating system has been slightly upgraded, from Android 2.2 to 2.3, and the new device has an 800-megahertz ARM Cortex-A8 processor, compared to the 366 megahertz ARM 11configuration in the old one.
The prototype India Ink looked at also allowed users to add a SIM card. This means that the tablet can double up as a phone, but this function is not available on all the upgraded versions. The Aakash-2 will come in two versions: one with a SIM card and one without, with the latter having a second USB port.
As for Internet connectivity, a mobile broadband dongle cannot be plugged into the Aakash-2. The device is meant to be used only with Wi-Fi. As part of the pilot project to distribute the tablet around India, 18,000 colleges and 403 universities in India have installed Wi-Fi networks, ministry officials said.
The two versions are being introduced simultaneously to see which better suits students, said a senior official from the Ministry of Human Resources Development who is working on the project.
Sample tablets will soon be sent to students for testing and feedback, a process the ministry officials said should be concluded in the next few months.
Over the next six months, the tablet’s designer, DataWind, is contracted to deliver a 100,000 tablets to Indian Institute of Technology (I.I.T.) Bombay, which is spearheading the project.
As for apps, the home screen displays several icons common to any Android tablet, including an Internet browser, a calendar, e-books and games. But the Aakash- 2 also has several apps that have been developed for students studying computer languages like C, C++, Python and Scilab, an open-source version of MATLAB, which are all used to create computer programs. The apps appear to be designed mostly for engineering students, even though the tablet is intended for students of all disciplines.
Visually impaired students can also access content on the tablet, as it comes with software that can read aloud any pre-loaded material.
Apps created specifically for the Aakash-2 include “Proximity,” which allows students to read tutorials and view class lectures, and “Clicker,” which administers online quizzes to students.
Another app, “Robot Control,” has been created for students of robotics, so they can learn hardware design and embedded systems using software. The app works with a robot, designed by a professor at I.I.T. Bombay, the kit to assemble the robot comes at an additional cost of 3,000 rupees.
In a demo of Robot Control, the robot, which is a small, wheeled machine with a camera on top, was connected through Wi-Fi to the Aakash-2 tablet, and video of the footage being recorded by the robot’s camera streamed live on the tablet. How the robot might be used by students (besides for spying on someone in their home or dorm room) should become apparent over time.
A high-definition video coprocessor ensured decent quality video, with very little pixilation. The audio was clear during playback. With a headphone, one could hear a slight hum, but it did not distract from the audio. When the battery ran low, a video stream on YouTube faltered.
The battery of the upgraded device has been increased by just over 50 percent to 3,200 milliamp-hours. Ministry officials said the battery can last at least three hours, but it depends on the functions performed on the device. The battery needs to charge for at least two hours after it has been run down.
The tablet will cost the government 2,263 rupees, so students are getting a version that is subsidized by 50 percent.
“Making the tablet affordable for students” continues to be a challenge, said N.K. Sinha, the director of the National Mission on Education Through Information and Communication Technology, the government agency responsible for the Aakash project.


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KHL Group wins Queen's Award for Enterprise
By Richard High21 April 2010
International publishing company KHL Group has won the most prestigious British industry award in 2010, the Queen's Award for Enterprise, in the highly competitive International Trade category for continuous outstanding achievement, sustained over not less than six years.
In the last six years KHL has generated more than UK£ 20 million (US$ 30.8 million) of export revenues, creating local jobs in and around the Wadhurst and Tunbridge Wells, UK area.
Speaking from Munich, Germany, where the company is exhibiting at Bauma, the world's largest construction equipment show, KHL Group's managing director James King said, "This award is a huge honour and testimony to KHL's outstanding team throughout the world, and just reward for their efforts over the past few years. More importantly it reflects all their hard work and ingenuity during the recent global downturn."
"Two key reasons why we won the International Trade award have been pioneering initiatives into the two giant world markets of the USA and China. In North America, we now have a company that publishes two market-leading magazines, websites, newsletters and eight employees.
"And we aim to use this company as a vehicle to launch or acquire other titles for the North and South American markets in the future," added Mr King.
KHL Group has always generated over 80% of its revenue from outside the UK. Its ten international magazines for the construction industry now reach every single country in the world and provide vehicles for global companies to reach their international target audience.
"In China, we have a Joint Venture publishing company that produces a Chinese language magazine and provides services for Chinese companies to help market their products globally. China has gone from nothing five years ago, to KHL's third largest market this year. We have seen tremendous growth after employing an excellent team and opening an office in Beijing."
Other key international markets for KHL are Germany, Scandinavia, Italy, France, South Korea, the Netherlands, Japan, Spain, Belgium and Turkey (where KHL has another JV publishing company producing a Turkish language publication).
The winners of this year's awards were announced today, the Queen's birthday, and there are only 95 winners of the International Trade category this year.
The award lasts for five years and previous winners include JCB, Liebherr UK, The Premier League, Bupa, Pearson (FT publishers), Du Pont, BBC Worldwide and British Airways.
There will be an official presentation ceremony at KHL Group's UK headquarters later in the year by the Queen's Lord-Lieutenant.


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PBV in the London Cycle Show 2022 part1
A group of Portuguese bicycle manufactures is present in the 2022 edition presenting some of the best products and services Portugal has to offer.
This time the companies that assumed the role of promoting the Bicycle Industry abroad are: Aptacorrente, Biciway, Incycles, Interbike, Jasil, Lightmobie, Miranda, ND Tuned, Rodi, Sangal and Tabor.
ABIMOTA is also present promoting the industry and showcasing the support services it can provide.
This event is included in ABIMOTA Export 2020 project, which is co-financed by Portugal 2020 Compete


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Milwaukee Tool is adding the cordless M18 Orbital 1/4" Sheet Sander, featuring the lowest vibration and best dust collection in its class, according to the company.
“The 1/4" Sheet Sander answers user frustrations such as discomfort from over-vibration, corded restrictions, and inefficient dust collection,” Tyson Apfelbeck, Milwaukee’s vice president of product management, said in a statement.
The sander, model 2649-20, will sell for $119. It has a launch date of June 2022.
For more product information, visit milwaukeetool.com.


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Last summer, Square teamed up with delivery service start-up Caviar, making home delivery from fine restaurants accessible. Now they’ve taken it to the next level with the free Caviar app for iOS devices.
Caviar allows people across the country to order delivery from a variety of iconic restaurants, and the new app makes ordering out easier than ever. Customers can track their delivery via GPS.
The technology allows restaurants to continue to grow their business and reach more customers.
Read the full article here: Caviar Launches Mobile App


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Sept. 12, 2013— -- Tesla Motors sells its popular electric cars through its website rather than local dealerships, a business move that has made it the target of legal battles backed by powerful car dealership lobbying groups that founder Elon Musk says he will fight in federal court if he needs to in order to operate his business.
The car company lost a difficult legal challenge in Texas earlier this year, in part because the company was steamrolled by the dealership association that poured money into elections and lobbying to preserve their own business, according to a new report released this week by a Texas government watchdog group.
Tesla, which was started by PayPal founder Elon Musk in 2003, has seen its stock soar and its market value rocket to $20 billion after it posted its first profitable quarter earlier this year. A report from Texans for Public Justice released this week showed the level of that opposition by a powerful group of car dealers.
Tesla has faced resistance from dealership trade associations across the country as it has expanded its stores and sales in recent years. Musk, responding to the state-by-state legal challenges told Automotive News in April that he was prepared to go to federal court if he could not win at the state level.
"If we're seeing nonstop battles at the state level, rather than fight 20 different state battles, I'd rather fight one federal battle," Musk said, explaining that he could either lobby for federal legislation or bring a federal lawsuit in hopes of winning the right to operate the way he wants to.
In most states where Tesla has begun operating, car dealership groups have lobbied to change laws in their favor.
In North Carolina, car dealerships lobbied earlier this year for legislation that would ban online car sales and force the public to buy cars through licensed dealerships, not from manufacturers. The measure in North Carolina failed to go through.
Similarly, dealership-backed legislation that would ban manufacturers from selling directly to consumers was introduced in New York in June but the bill was never voted on before the 2013 legislative term ended, according to Automotive News.
Car dealerships also pressured local government officials in Massachusetts to not grant a license to Tesla to open a store in Natick, but the town's selectmen sided with Tesla and granted the license, allowing sales of the cars, according to the Metro West Daily.
The state-by-state battles for the right to sell cars online have mostly gone in Tesla's favor - at least until Texas. Unlike other states that already permit direct sales, in Texas, state law prohibits manufacturers from selling directly to consumers.
Because of the unique law in Texas, Tesla stores there "are legally prohibited from offering visitors a test drive, quoting them a price or even directing them to Tesla's website," according to the report by Texans for Public Justice.
Tesla has set up showrooms and "galleries" around the country, including ones in Austin and Houston, where consumers can view the cars before making their purchases online. Tesla calls the Model S the "world's first premium electric sedan," and is priced at $49,900 to $97,900, based on battery options and upgrades.
Tesla attempted to have the Texas law changed earlier this year, but the company's efforts were quashed by lawmakers who took in more than $2.5 million from car dealers in the 2012 election cycle, TPJ reported.
The report, titled "Car-Dealer Cartel Stalled Musk's Tesla," points out that the Texas Automobile Dealers Association (TADA) spent more than $700,000 lobbying against Tesla's efforts during the 2013 legislative session.
Sixty percent of all current lawmakers in Texas collected money from TADA in 2012, according to the report. Only 17 House members did not receive money from the group.
In comparison, Musk spent between $250,000 and $565,000 on lobbyists, and an additional $7,500 in campaign contributions.
Tesla declined to comment on the Texas legislation, and the TADA did not return calls seeking comment.
Diarmuid O'Connell, Tesla Motors' vice president of business development, told ABC News earlier this year that Tesla does not want to go through dealerships to sell its car because only its staff can properly educate the public on what makes electric cars and Tesla cars unique.
"We're not in the business of tearing down the dealer model," said O'Connell. "We simply believe that to successfully introduce this technology to the market, it needs to be done in a focused fashion, by us."
ABC News' Susanna Kim contributed to this report.


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Hong Kong Announces a Complete Ban on Vapes
After indicating that it would regulate but not prohibit vaping products, the government of Hong Kong has decided instead to institute a full ban on their sales, manufacture and import. The ban will also cover heat-not-burn tobacco products (HNB).
There is no proposal to ban cigarettes, which produce massive tax revenue for the government.
According to a report from the South China Morning Post, Hong Kong chief executive Carrie Lam Cheng Yuet-ngor will announce the ban in her policy address today. The speech will introduce many new government initiatives along with the vaping ban.
After threatening a ban last year, the government announced this June that it would not ban, but instead regulate e-cigarettes and HNB as it does combustible tobacco.The plan at that time was to institute a ban on sales to minors, advertising restrictions, and taxes on products that contain tobacco (HNB devices heat “sticks” of tobacco).
Tobacco control activists at the Hong Kong Council on Smoking and Health (COSH) opposed the regulation plan, instead demanding either a complete ban or taxes so high the products would be as difficult to obtain as cigarettes. “If the products are available in the market, they should be taxed in the same way as tobacco,” said a June statement from COSH. “Their selling price should not be lower than cigarettes so that the public will not be attracted to using them just because they are cheap.” Cigarettes in Hong Kong cost about 57 Hong Kong dollars (about $7.30 U.S.).
A June 13 letter from COSH to the government secretary for food and health called for “a total ban on all new forms of tobacco products.” Other groups that urged the government to prohibit all vaping and HNB products were the College of Community Medicine and the Medical Association.
A letter from public health advocate Clive Bates, Canadian tobacco control expert and University of Ottawa law professor David Sweanor, and New York University professors and former Truth Initiative researchers David Abrams and Raymond Niaura to the Hong Kong chief executive, president of the Legislative Council, and secretary for Food and Health asked for reasonable regulation. They addressed the local groups’ demands for a ban directly
“We write to express concern about a campaign led by a Hong Kong-based tobacco control organisation to have e-cigarettes, heated tobacco products and other low risk alternatives to smoking banned,” said the Bates letter. “We believe this campaign is ill-conceived and inconsistent with the international evidence. We are writing to urge the government to resist this pressure and to use ‘risk-proportionate’ regulation rather than prohibition to exploit the opportunities and minimise any risks associated with these new technologies.”
The letter also suggested that the Hong Kong Office of Tobacco Control had adopted the World Health Organization’s strategy of cherry picking evidence to present a negative picture of the health risks of vaping products. The tobacco control office’s information page on e-cigarettes looks like something from 2009.
“We respectfully ask by what logical, scientific or ethical argument does it make sense to ban the much safer products while leaving the highly harmful dominant product, cigarettes, widely available throughout Hong Kong?” asked the letter from Bates et al. “Why would a government prevent a smoker switching to a much lower-risk product and, in doing so, perhaps save his own life using his own initiative and at his own expense?”
If report from the Morning Post is correct, it appears the government officials have bowed to the wishes of the WHO-influenced tobacco control groups, and disregarded advice to consider the benefits of allowing low-risk products to compete with cigarettes. Smokers will not get the chance to save their own lives. They will continue to fill the government coffers though.
Hong Kong has been an autonomous region of the People’s Republic of China since 1997. Before that, it had been a British colony since 1842. Hong Kong lies just a few miles south of the vaping production capitol of the world, Shenzhen, China. As a “special administrative region” of China, Hong Kong has its own political system and currency. It has a population of 7.4 million people.


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Is eco-friendly retailing just a load of greenwash?
Big stores certainly claim to have bought into ethical thinking, but some wonder if it's more sales patter than green matters, writes Alison Clements
Who can have missed British retail's zealous eco-mission to become as green as a South American rainforest? But cynics cry 'greenwash!', questioning whether corporate retailers are merely pulling PR stunts. They ask how retail giants can be both environmentally responsible and greedy for growth. The opening of enormous hypermarkets, acres of free parking and constant encouragements to increase consumption surely suggest a conflict of interest here.
As a sector, big retail has announced an incredible array of environmental initiatives over the past five years, and there's no denying that real progress in the race to curb carbon dioxide emissions and waste is being made. By next year Tesco says it will have halved the average energy use of its UK stores, compared with 2000. And by 2020, that degree of energy reduction will apply across the entire global estate of stores and distribution centres.
Tesco, which accounts for about 0.4 per cent of the UK's carbon footprint, has invested in battery-powered home delivery trucks, automated recycling machines at stores to help customers recycle waste and three 'environmental stores'. Tesco's latest pledge is to take thousands of lorryloads off the roads by switching wine distribution to barges on the Manchester Ship Canal.
Marks & Spencer's acclaimed 'Plan A', a £200m project to tackle climate change and waste across stores, suppliers and supply chain, includes three trading 'eco-stores', a Scottish wind turbine, an eco-factory in Sri Lanka, fuel-saving lorries and reduced packaging and carrier bags. High street names including Sainsbury's, Asda, Woolworths and DSGi can now list laudable carbon-cutting activities in their annual reports, and most have announced ambitious carbon footprint reduction targets. They have discovered the benefits of publicising green credentials to a nation increasingly switched on to ethical issues.
'The public and political mood around corporate responsibility has changed radically in recent years,' says Trevor Datson, environment spokesman at Tesco. 'Being the biggest UK retailer we recognise our responsibility to show leadership in these areas and we're rising to that challenge. Rather than seeing a conflict between responsible retailing and corporate growth, we actually believe we have to be green to grow.' M&S head of corporate responsibility Mike Barry says the firm won plaudits with opinion formers because its strategy straddles store operations, as well as upstream suppliers and downstream consumer behaviour. He calculates that 10 per cent of the company's carbon footprint is from M&S's own store-based and head office operations, 60 per cent is generated across the supply chain, and 30 per cent by use of products in the home.
'The big beasts have to take a lead on climate change,' says Barry. 'Only by trying out new low-carbon technologies will we learn how to shape our business for the future, and we believe we have to apply that philosophy beyond our core estate, encouraging suppliers and consumers to change too.' Datson says Tesco is in the privileged position of having the scale and profitability that enables it to make carbon-cutting investments across the business and beyond. 'We've just pledged an additional £100m investment in research projects for new green energy technology, for example, which hopefully will benefit Tesco and the wider industry. Going green affects the way customers and legislators perceive Tesco as a business. Shoppers won't necessarily say they'll spend more with us because we're greener, but they will feel reassured by how we operate, and what we stand for.'
On many levels the business case for going green is sound. Alliance Boots says it is saving millions each year, thanks to supply-chain efficiencies and dramatically reduced waste collection bills. Barry agrees there are short-term financial wins, and is sanguine about return on investment for more costly projects.
Research firm TNS reports that a quarter of UK shoppers say they are prepared to pay more for goods that come from companies paying a fair wage and working to protect the environment, so as well as potentially reducing costs and driving footfall into stores, green kudos can also generate higher margins.
Ethical consumerism - spending on green and fair trade food, clothing, household goods, energy, banking and travel - has been recorded since 1999 by the Co-operative Bank's Ethical Purchasing Index. Double-figure growth has been achieved every year since then (see table, right), with the most recent figures, for 2005-2006, showing the value of ethical consumerism up 11 per cent year-on-year, reaching £29.3bn. This is slightly more than what the nation spends on over-the-counter beer and cigarettes.
But as Barry Clavin, ethical policies manager at Co-operative Bank, points out, in very few product markets has opting for ethical goods become the norm. 'Overall spend on ethical food still only accounts for 5 per cent of the typical shopping basket,' he says. 'Where the ethical or eco-choice has become the market leader - for example in sales of A-rated energy fridges, which account for 60 per cent of the market - this has been underpinned by an EU labelling scheme, with inefficient products effectively being removed from sale.'
While we all care about the future of the planet, the majority of shoppers don't want to pay more or sacrifice quality of product or personal comfort. For instance, eco-detergents are more expensive than regular detergents and therefore, despite being available since the Eighties, still only account for a tiny portion of that market. Moreover, government intervention into what people buy and how retailers procure and sell goods has been minimal to date.
By way of reply to the accusation of greenwash, retailers are pointing out that their efforts to source organic cotton, encourage purchases of fair trade coffee and fathom how to manufacture clothing out of recycled polyester (as M&S has done), is evidence of them striding ahead of the government and most consumers on the big green issue. 'It's true that retailers have an amazing channel to consumers, through their products, stores and employees, to inform on how to live more responsibly,' says Jane Fiona Cumming, director of corporate social responsibility consultancy Article 13. 'Our research shows that the vast majority of consumers want and expect retailers and manufacturers to take on the burden of finding solutions to climate change. However, there is always an issue around price for the vast majority of families.'
James Wilde, director of insights at the Carbon Trust, believes retailers are doing a good job of balancing their commitment to the green agenda with market demands for competitively priced goods and the corporate drive for growth. 'The opportunity is there for growth alongside emissions reductions,' he says, 'particularly as renewable energy sources are developed over time, and consumer behaviour changes for the better. The right balance can be struck here without asking consumers to actually reduce consumption.'
The Carbon Trust advocates carbon labelling on products, so that consumers can see for themselves the impact certain items will have on the environment but, more importantly, recognise the efforts producers and retailers have made to minimise the carbon footprint of everyday goods. Alliance Boots is making headway here. 'The green consumer is on the march, with more and more people recognising the perils of climate change,' says Richard Ellis, group head of corporate social responsibility. 'They don't want to lie in the bath feeling guilty about the impact their bubble bath has had on the environment. They look to a trusted brand like Boots to do the hard work of reducing carbon emissions in the manufacturing, packaging and distribution processes.' That said, Ellis believes consumers will need to think more about how they consume energy in the home, but is conscious of expecting too much. 'British people are learning about energy-efficient washing, thanks to Ariel's latest product being designed to perform well at low temperatures,' he says. 'At Alliance Boots we could develop a shampoo that would work well in cold water, but that begs the question: are the women of Britain ready to wash their hair in cold water? We're constantly having to assess where to draw the line.'
As carbon labelling of products becomes the norm, consumers will understand more about the carbon footprint of their asparagus, toilet cleaner and hairspray, and hopefully make purchasing decisions based on what they learn, prompting the growth of less detrimental production processes. By educating and giving consumers choices, retailers pioneering eco-retailing can be a force for public good; and for those left behind, the government will eventually legislate to prompt more responsible operations anyway.'More transparency and consistency around reporting emissions is coming,' says Wilde. 'If claims of becoming carbon-neutral are not delivered, we will know about it. So the more meaningful work that retailers do now, the better their future reputations, and the less likely they'll be accused of greenwash.'
What's it worth?
Year Value of ethical consumerism 1999 £9,279m 2000 £11,482m 2001 £12,943m 2002 £18,788m 2003 £22,551m 2004 £26,375m 2005 £29,268m
Source: The Ethical Consumerism Report 2006, The Co-operative Bank
M&S: converting muck into power
Domestic food waste and cow slurry is being converted into electricity by high-street chain Marks & Spencer. The latest initiative is part of its wider environmental strategy Plan A, and aims to produce enough renewable electricity to power six M&S Simply Food stores.
The renewable energy from domestic waste is being provided through an anaerobic digester in Shropshire, while a second, farm-based anaerobic digester will begin operating in spring 2008, fuelled by cow slurry and agricultural crops. Anerobic digestion is a treatment that composts food and farm waste in the absence of oxygen, producing biogas that can be used to generate electricity and heat.
Mike Barry, head of corporate responsibility at M&S, says this is a 'triple win' for the retailer. 'The scheme gets rid of harmful waste, helps
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Apple has signed a multi-year, first-look deal with Ron Howard and Brian Grazer’s Imagine Entertainment to produce films for its streaming service, according to a recent report. In addition to the multi-year film deal, the tech giant also extended its existing first-look deal with the production company which was inked back in 2019.
With the first-look deal, new projects from Imagine Entertainment will be pitched to Apple first. The tech giant can pick up the title or let it be taken to the wider market. Though no specific projects were named for the film deal, the deal will result in Imagine producing a number of scripted feature films for Apple TV+.
Apple TV+ inks multi-year deal with Imagine Entertainment
Before Apple hired Zack van Amburg and Jamie Erlicht from Sony to launch Apple’s original video content division, the company was in talks about acquiring Imagine Entertainment with Howard and Grazer taking the top jobs at Apple TV+. Howard and Grazer reportedly declined the role on good terms, and the two companies ended up signing a first-look deal instead. Today’s report expands upon that existing partnership.
Imagine Entertainment is a major player in the film industry. The company has received 43 Oscar nominations for its work and some of its most famous titles include The DaVinci Code, Austin Powers, 8 Mile, Apollo 13, and A Beautiful Mind. The company is currently producing Lin-Manuel Miranda’s “Tick, TickBOOM!” starring Andrew Garfield.
On the feature side, Imagine is currently producing Lin Manuel Miranda’s tick, tick…BOOM!, starring Andrew Garfield, and has Lee Daniels directing a reinterpretation of Terms Of Endearment. Howard is coming off Hillbilly Elegy, made for Netflix. Imagine has accumulated 43 Oscar nominations and 198 Emmy noms over the years, and Grazer and Howard won Best Picture Oscars for A Beautiful Mind.
This is not Apple’s first partnership with Imagine Entertainment. The two companies have worked previously together on the Bryce Dallas Howard-directed docu Dads, and the Emmy-winning Peanuts in Space: Secrets of Apollo 10 directed by Morgan Neville.
Apple has been investing a ton in its original films lately. Just last month, the company signed a multi-year deal with Skydance to release several films including “Luck” and “Spellbound,” and a two-season order for the animated series “The Search for WondLa.” It also acquired the rights to ‘CODA’, a film previewed at Sundance Film Festival, for a record $25 million.
- Apple TV+ show ‘Ted Lasso’ starring Jason Sudeikis gets nominated for awards like PGA and DGA
- Apple TV+ original shows ‘Servant,’ ‘For All Mankind,’ and ‘Amazing Stories’ nominated for The Saturn Awards
- Jason Sudeikis wins Golden Globe Award for comedy series ‘Ted Lasso’ on Apple TV+
- Apple TV+ new movie ‘Billie Eilish: The World’s a Little Blurry’ is a massive hit with young audience worldwide
- Apple TV+ orders ‘Dr. Brain’, its first Korean language webtoon series written by Kim Jee-Woon
- Apple TV+ orders original series ‘Roar’, starring Nicole Kidman and Alison Brie
- Jon Stewart hires former CBS News veteran Brinda Adhikar to be the show runner for his upcoming Apple TV series
- Apple TV+ has ordered new ‘Lady in the Lake’ series starring Natalie Portman and Lupita Nyong’o


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By James Chessell
It is time for Peter Mason to step down from the board of David Jones.
Since becoming chairman in January 2013 - six years after assuming a board seat - the former investment banker has not been up to the job.
Many of the problems faced by the upmarket retailer can be sheeted back to Mason's leadership, or lack thereof. The handling of the succession of chief executive Paul Zahra has been farcical. Zahra announced his intention to step down in October 2013, claiming he needed a break. With no obvious successor within David Jones, the board has embarked on an ill-defined search for a new boss.
In the meantime, shareholders have used the leadership vacuum to agitate for Mason to reverse his decision. It is common knowledge within DJs that management has a frosty relationship with the board.
Long-suffering shareholders were also frustrated when Mason allowed two directors - Leigh Clapham and Steve Vamos - to buy shares in the company in late October, just three days before DJs released a better than expected quarterly sales update.
ASIC, which examined emails between Mason and the two directors as part of a two-month investigation into the purchases, has said there is insufficient admissable evidence to pursue a case against Vamos and Clapham.
Mason later apologised for his decision. But not before trying to argue that the sales result - which sent the stock soaring 15 per cent - was not market sensitive.
Now it emerges that about the same time Vamos and Clapham were buying shares, Mason had received an all-scrip offer from rival retailer Myer. David Jones went into a lot of belated detail on Thursday evening - after it realised The Australian Financial Review was about to publish details of the bid - about why the proposal was not in the interests of its shareholders. David Jones claimed the offer was not complete.
There are many other problems at David Jones: the lack of retail experience on the board; its customer service and its lagging online operations. But the Myer rejection could be the last straw for many shareholders.
When AMP inexplicably decided to rebuff a $21-a-share offer from National Australia Bank without telling its shareholders, veteran fund manager John Sevior said the AMP board "have not earned the right to be cute about whether to put the company into play".
The same could be said about Mason.


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Western Sydney University (WSU) is on what its CMO says is an ambitious transformation strategy that kicked off with a brand relaunch in 2015 and has now seen the rollout of a new student portal and website.
- VICE Asia launches in PH, appoints Filipina Natashya Gutierrez as APAC Head, Content Strategy
- eBay to acquire Motors.co.uk to combat AutoTrader
- First Bus reveals double decker bus inside giant toy box
- Sony Pictures Network India renews digital partnership with ABB FIA Formula E Championship
- Fox taps AMC’s Charlie Collier to lead its broadcast business


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Shareholders probably won’t begrudge him the increase in a year when the satellite radio company’s market value appreciated 13%. Karmazin’s package is pretty simple: $1.5M salary, $9.2M bonus, and $7,350 for other compensation. The Sirius XM proxy says that it awarded Karmazin his bonus to recognize, among other things, the growth in subscriptions, revenues, and cash flow — and the reduction in the company’s debt. The CEO’s pay amounted to 23% of the pie for the company’s six named executives, and is 1.5 times higher than the average for his colleagues — well below the level that would concern corporate governance activists. But the numbers are somewhat skewed because Karmazin wasn’t the company’s highest paid exec: CFO David Frear’s package came to $20.8M, up nearly 520%. That’s almost entirely due to $18.9M in option awards granted in July. Sirius XM will hold its annual meeting in New York on May 22.
Sirius XM CEO Mel Karmazin Scores $10.7M For 2011, An 8.1% Raise
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HP to pay Postal Service $32.5 million
NEW YORK -- Hewlett-Packard Co. has agreed to pay $32.5 million to settle allegations it overcharged the U.S. Postal Service for products over more than eight years.
In the dispute, the United States alleged that Hewlett-Packard failed to comply with pricing terms of its contract with the Postal Service. This included a requirement that Hewlett-Packard provide prices that were no greater than those offered to its other customers with comparable contracts. The United States also alleged the company misrepresented its pricing during contract negotiations and its plans to ensure it would bill at the required most-favored-customer rate.
The overcharging allegedly occurred between October 2001 and December 2010.
The matter was jointly investigated by the U.S. Postal Service, Office of the Inspector General and the Department of Justice's Civil Division.
The Justice Department said Friday that the claims resolved by the settlement are allegations only. There's been no determination of liability.
Hewlett-Packard is based in Palo Alto, Calif. Its stock fell 42 cents, or 1.2 percent, to close Friday at $35.19.
-- The Associated Press
Judge: Argentina must still pay debt
Argentina's decision not to repay holders of defaulted bonds this week hasn't extinguished or reduced the country's obligations to them, a federal judge in New York said at a hearing Friday.
Argentina's statements that it's willing and wants to pay its debts are "highly misleading" because they refer only to restructured bonds, said U.S. District Judge Thomas Griesa.
Argentina failed to get a $539 million payment to bondholders after Griesa ruled the money couldn't be distributed unless a group of hedge funds holding defaulted debt also got paid.
Standard & Poor's declared Argentina in default Wednesday after the government missed the deadline to pay interest on $13 billion of restructured bonds.
Argentina defaulted on a record $95 billion in debt in 2001. About 92 percent of creditors agreed to exchange their bonds for new ones at a discount of about 70 percent in debt restructurings in 2005 and 2010. Holdouts including Paul Singer's NML Capital sued, seeking full payment.
-- Bloomberg News
Scientific Games to buy larger rival Bally
WILMINGTON, Del. -- Scientific Games Corp. has agreed to acquire Bally Technologies Inc. for about $3.3 billion, excluding net debt, buying up a bigger rival as consolidation in the slot-machine industry accelerates.
Scientific Games, controlled by billionaire Ronald Perelman, will pay $83.30 in cash per Bally common share, the companies said in a statement Friday, a premium of 38 percent over Bally's closing price Thursday.
It's the second acquisition for more than $1 billion in less than a year for Scientific Games, at a time the gambling-equipment sector faces weaker consumer spending, casino gluts and competition from Web competitors.
Gavin Isaacs, who took over at Scientific Games in June, will find himself on familiar ground. Isaacs was the former chief executive officer of SHFL Entertainment Inc., bought by Bally last year for $1.3 billion, and before that worked as chief operating officer at Bally.
The companies anticipate $220 million in annual cost savings and $25 million in annual capital-expenditure savings by consolidating operations and generating efficiency in the areas of manufacturing, engineering, field and customer service, and administrative operations.
The deal, which includes net debt of $1.8 billion, will immediately add to Scientific Games's earnings per share, according to the statement. Measured by annual revenue, Scientific Games and Bally are of similar size. The companies said they generated combined sales of approximately $3.0 billion in the year ended March 31.
-- Bloomberg News
California bullet train's bonds revived
The California High-Speed Rail Authority can issue $8.6 billion in bonds to finance the U.S.'s first bullet train, a state appeals court ruled, putting the beleaguered $68 billion project back on track in a win for California Gov. Jerry Brown.
While the proposed line from San Francisco to Los Angeles still faces several lawsuits, Thursday's ruling by a three-judge state appeals court panel in Sacramento removes a substantial roadblock to the project.
The agency suffered a setback in November when a state judge blocked it from issuing the bonds, saying its finance committee didn't adequately disclose reasons for the financing. The judge told the authority to withdraw its funding plan. The decision threatened to delay and increase the cost of the project, state officials said.
The appeals panel said California law doesn't require the agency to provide any support or evidence to back up its decision approving issuance of the bonds, while warning that the project still faces hurdles.
"Substantial financial and environmental questions remain to be answered by the authority in the final funding plan the voters required for each corridor or usable segment of the project," the court said. "But those questions are not before us."
The court also reversed the judge's ruling that the rail authority had to redo its funding plan.
-- Bloomberg News
P&G plans to shed half its product lineup
CINCINNATI -- Procter & Gamble, the world's largest maker of consumer products, said it will shed more than half its brands around the globe over the next year or two, leaving it with about 70 to 80 of its top performers when the nips and tucks are complete. The maker of Duracell, CoverGirl, Pampers and Tide did not say which products it plans to keep but noted that they account for more than 90 percent of its sales.
P&G expects primarily to sell off the brands to other companies. Chief Executive Officer A.G. Lafley said the company should have made the move long ago.
"In an ideal world, we would've done this at the depth of the financial crisis, in the recession," Lafley said Friday during a conference call with analysts and investors. "Having said that, I don't see any reason to wait. I don't see any virtue in waiting another minute."
The Cincinnati-based company had already been trimming its operations, including selling Iams pet food and the rest of its pet business to Mars Inc.
-- The Associated Press
Business on 08/02/2014
Print Headline: Business news in brief


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Hemp becomes Hip
By Cameron Woodworth
Hemp, long admired for its tough, durable products and Earth-friendly
qualities, but banned as a crop by the United States government
in 1937, is making a resurgence. These days, you can find people
wearing hemp clothing, using hemp rope, writing on hemp paper,
applying hemp oil to their bicycle chains, and eating hemp chocolate
bars. Internet sites hawk hemp goods. By one activist's account,
the number of retail stores selling hemp products in the United
States jumped from just two in 1988 to more than 2,000 today.
Environmentalists love hemp for several reasons. It has the ability to grow without the use of harmful pesticides and herbicides, and it grows so quickly that advocates say it can help save endangered forests. Hemp paper requires far less bleaching and other chemical treatment than paper from wood, according to HempTech, an advocacy group (www.hemptech.com).
Manufacturers love it for its exceptional versatility durability. They say hemp can be used for 25,000 different products, ranging from hammocks and floor mats to industrial oil and cosmetics.
So far, however, hemp products have been much more expensive than their non-hemp counterparts. That's largely because American businesses must import hemp from far-away paces such as China and Europe. But prices may becoming down soon.
Recently, Canada took the bold step of allowing farmers to grow industrial grade hemp for the first time in 60 years. Like the United States, Canada banned the growing of hemp in the late 1930s. And the United States won't be far behind, if many activists have their way. A group of Kentucky farmers has sued the federal government for the right to grow industrial hemp.
Hemp was a popular product in the United States up until the 1930s. George Washington and Thomas Jefferson both grew it, hemp historians say; Jefferson even drafted a couple versions of the Declaration of Independence on hemp paper. Benjamin Franklin owned a mill that produced hemp paper. During World War II, the government broke the new ban on growing hemp, and launched a "Hemp for Victory" war campaign.
Hemp advocates say the U.S. Congress never intended to ban hemp, but only marijuana. Industrial hemp and marijuana, biological cousins, are both classified as Cannibis sativa, a member of the mulberry family. Industrial hemp is bred for fiber, seeds and oil, while marijuana is bred for maximum THC, the primary psychoactive ingredient in marijuana.
But hemp supporters say there is no need to worry that hemp grown for industrial use will add to the nation's drug problem. Industrial hemp has miniscule amounts of THC; advocates say that smoking a field of the stuff would give you a headache, not a high.
If you're an Earth-friendly shopper, consider adding hemp products to your shopping list.
Cameron Woodworth, a freelance copywriter, is author of Green Cuisine: A Guide to Vegetarian Dining around Seattle & Puget Sound.


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With so many titles in the extensive and ever-growing Pokemon game franchise, it can be hard to pinpoint a favorite. But for Game Freak co-founder and director Junichi Masuda, it’s quite simple: Pokemon GO is his unrivaled and best-loved Pokemon series “spin-off.”
Speaking in an interview with Game Informer, which centered around an in-depth discussion of core Pokemon RPGs, Masuda opened up about why Pokemon GO is the standout and superior spin-off title across all platforms. Though Masuda was hesitant to consider it an actual spin-off, he explained that the popularity of the game took him by surprise — especially after a rocky road with creating titles that proceeded it.
The director brought up the mobile monster-catching game when tackling the topic of Pokemon Ruby and Sapphire, which he stated were the two most difficult titles for him to create. While those games were in development, Masuda began to notice the Pokemon brand fading, a realization that put him under a great amount of stress. But when Pokemon GO finally came out, he discovered that the franchise still had countless adoring fans. At one point, Pokemon GO became more popular than the dating app Tinder. “Pokemon GO is experiencing something similar where people are saying, ‘Eh, it’s done. The fad’s over,’ but it was way worse than that after Gold and Silver had settled down and we were working on the next game,” Masuda explained.
Also in attendance at the interview was director Shigeru Ohmori, who gave an unexpected answer when asked his favorite Pokemon spin-off game. “I played a lot of Pokemon Snap. I got really into it,” Ohmori said of the 1999 first-person rail shooter and simulation title. “The most fun part for me — this may have been a Japan-only thing — but you could take your game to a convenience store and print out the photos you took and could use them like stickers and put them on things. I just had a lot of fun being able to take the photos in the game and print them out as things that I could use.”
The game saw a resurgence earlier this year in the United States when Nintendo announced Pokemon Snap for the Wii U Virtual Console. A Nintendo 64 classic, Pokemon Snap was made available last year in European countries and in Japan, following the release of Pokemon Sun and Moon.
As far as what the future holds for the Pokemon franchise, it’s still anyone’s guess. But is Masua and Ohmori have their way, racing and action-focused games will be coming soon. Masuda stated that there is an Easter egg-like reference in X and Y, where “Rhydon Racing” exists in that world. “There might be a message in there that I really want to create Rhydon racing,” Masuda hinted. For Ohmori, he “really want[s] to try working on a real action-focused game,” perhaps a 2D side-scroller, since the franchise already has a few fighting games.
Lately, the buzz around Pokemon GO hasn’t been all that positive. Following a failed festival held in Chicago that resulted in technical glitches and service outages, disappointed fans, and subsequent playability issues, the mobile game’s reputation has taken a few hits over the past month. Though the title seems to have found its footing again this week, with more than two million players attending the Pikachu Outbreak event in Japan, hearing a distinguished industry executive sing Pokemon GO‘s praises is a great thing to hear after back-to-back game-related disasters.
Pokemon GO is available now exclusively on Android and iOS devices.
Source: Game Informer


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- Stablecoins have been found to be like by the US Securities regulator SEC
- Firms have divested corporate bonds and commercial paper to add USDC to their portfolio
- Insurance also being spoken about if something goes awry for token holders
It’s as of late become known that the U.S.Securities and Exchange Commission is examining Circle, a chief patron of the famous USDC stablecoin. The extent of the guard dog’s examination, which started the previous summer, is obscure.
Incidentally, however, information on the “insightful summon” comes when USDC has never been safer. In its most recent authentication from bookkeeping firm Grant Thornton, Circle revealed that it has stripped itself of everything except a couple of its “corporate securities, since quite a while ago dated business paper. This is essential for its arrangement to have USDC completely sponsored by U.S. dollars.
The summon fits with the SEC’s undeniably forceful posture set against the digital money industry. Administrator Gary Gensler has expressed gruffly that he accepts by far most of the digital money organizations that fall under his domain. He’s called for crypto trades to enlist with the SEC, and the office has tightened up its requirement and examinations of all quantities of crypto organizations.
Stablecoins the way forward
Guideline more than stablecoins, presently a $130 billion market, is something of a riddle – and one with a couple of pieces missing. They are a vital part of sound crypto markets. Be that as it may, numerous external onlookers have raised worries over the fundamental danger stablecoins address for the bigger economy.
To make these fiat-fixed tokens, guarantors take in and hold stores in an interaction that looks like banking. Another helpful relationship may be prepaid gift vouchers. However, the SEC’s top cop has likewise said stablecoin backers “could look a ton like a currency market reserve” contingent upon how they run their activities. So has Federal Reserve Chairman Jerome Powell. So what did the crypto business make here: computerized dollars, protections, products?
Government officials including those supportive of crypto Sen. Cynthia Lummis (R-Wyo.) have called for standard reviews of stablecoin backers. An official working gathering is flagging it might make bank-like guidelines for the area. The Federal Deposit Insurance Corp. is concentrating on whether certain stablecoins may be qualified for its store protection – which would supply up to $250,000 in assurance for token holders should something turn out badly.
It seems like all signs are guiding for stablecoins guarantors toward becoming more coordinated into the financial area, if not become semi banks themselves. That is a game plan the guarantors appear to support.
In any case, it is currently applying to turn into a public crypto bank, putting itself under the control of the U.S. Central bank, U.S. Depository Department, Office of the Comptroller of the Currency (OCC) and the FDIC. Paxos, another backer, is likewise attempting to turn out to be more bank-like.
In that sense, stablecoins are somewhat more than cash – they’re programmable cash! There’s a contrast between the actual tokens and the guarantors. It’s fine and dandy for Circle to turn into a bank, for the U.S. government to guarantee its stores and for more noteworthy straightforwardness in all cases. However, the guidelines should be adaptable enough with the goal that they don’t squash the utility of the actual tokens.
That is significant from a monetary incorporation point of view just as for the unique universe of decentralized money (DeFi), where stablecoins play a significant liquidity job. In some sense, the stablecoin guideline – albeit not yet on the books – is further along than direction for some other subsector in the crypto business.
The sheer intellectual ability being aimed at characterizing these tokens and seeing where their backers fit into the framework is noteworthy. It’s troubling that Circle has been summoned notwithstanding its steps to coordinate itself into the monetary framework.
Any place the chips might lie after this controller banter, the result will assist with explaining things no matter how you look at it for crypto. No place is the convergence between protections, products and monetary standards laws more clear than in stablecoins. Rules around the tokens ought to mirror that, regardless of whether Circle turns into an exhausting old bank.


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Marist to Host Annual Silver Needle Fashion Show Virtually
Marist will host their annual Silver Needle fashion show to showcase student designs virtually this year.
Marist College and the Marist fashion department are set to host their 34th annual Silver Needle Runway on Friday, May 8, 2020. This year, it will be done a little differently. Due to the college being closed for the COVID-19 pandemic, Marist will host a virtual fashion show.
Traditionally, the Marist Silver Needle Runway is held at the Mid-Hudson Civic Center. But now, they have adapted how their show will be put on based on the current pandemic. The ironic part? The theme of their show is sustainability and adaptability.
Listen to Morning With Brandi weekdays from 6 AM to noon through your 94.3 Lite FM mobile app. Connect with 94.3 Lite FM on Facebook, Instagram and Twitter.
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Research: JP Morgan
CMP: Rs 893
ICICI Bank’s top management has clarified that it does not have any direct exposure to subprime-related assets. The bank’s exposure is mainly in the form of collateralised debt obligations (CDOs) or credit linked notes (CLNs), the underlying assets of both ICICI Bank and its overseas banking subsidiaries. ICICI had already provided for a substantial 72% of this loss up to December 31, ’07. It expects to provide for the balance in this quarter (these values are estimated as on January 31, ’08 and can change depending on how credit spreads behave up to March 31, ’08). The apparent confusion arose from two sources: a)
The subsidiary exposure, which was not/under-estimated; and b) The marked-to-market loss on its fixed income investment portfolio. These amounts are too small to create any permanent economic damage (about 2.5% of the parent’s book value).
In fact, if they are held to maturity and remain credit-worthy, most of these provisions are likely to be written back. The market’s reaction to the news seems to be overdone, with the parent bank now trading at a 10% discount to JP Morgan’s fair value multiple of 1.9x book and implying zero value for its life and securities businesses - which is an extreme scenario. JP Morgan believes it is time to buy at these very cheap valuations, given upcoming branch openings, medium-term improvement in low-cost deposit mix, tapering off of non-performing loans (NPLs) and bottoming out of retail growth.
While the one-time provision for write-down of Rs 100 crore for strengthening of Suzlon’s Energy’s blades for its 2.1-mega watt turbine will wipe out 8% of the company’s FY08 earnings (if it were not one-time), Morgan Stanley believes the market is more concerned about the issue becoming a recurring expenditure.
The revised price target of Rs 450 implies a 79% return from current levels, reflecting Morgan Stanley’s belief in the company’s strong growth story, backed by its vertically integrated business model. Suzlon Energy had written off Rs 19 crore in the third quarter of FY08 to replace 34 blades of its 2.1-mega watt turbines installed in the United States.
The company plans to take a further provision of Rs 100 crore in the fourth quarter of FY08 to strengthen 1,251 blades - the entire inventory of the 2.1-mega watt turbines, including those installed across the world and currently on hand. The market has overreacted on fears that the provision will become a recurring expenditure.
While the provision may become a recurring one, its quantum is expected to reduce significantly in FY09-10E. The company’s upcoming call with the investing community will address some of the market’s concerns regarding the quantum of recurring expenditure. Morgan Stanley expects strong results in the fourth quarter of FY08, driven by Suzlon Energy’s continued robust sales growth.
Religare Securities initiates coverage on Birla Corporation with a ‘buy’ rating and a target price of Rs 335. At the current market price, the stock is trading at a huge discount to the replacement cost of $100 per tonne, compared to its peer group and to recently-concluded merger & acquisition (M&A) deals. Apart from cheap valuations, the following key points also add to Religare’s ‘buy’ argument: 1)
The company’s expansion of capacity by 1.7 million mtpa will increase the installed capacity to 7.5 million mtpa by March ’09 and add to its volume growth; 2) Strong free cash flow generation will further strengthen the company’s balance sheet and financials; and 3) Revenues and profits will witness a compound annual growth rate (CAGR) of 10% and 17%, respectively, over FY07-FY10E. Birla Corp’s expansion of cement capacity by 1.7 million mtpa is expected to be commissioned by March ’09 in two phases.
The company is upgrading its kiln and pre-calcinising unit, and setting up new vertical roller mills (VRMs) to increase capacity. It is likely to announce new greenfield capacities of approximately 2.5 million mtpa to achieve its target of 10 million mtpa by ’10. The company holds limestone reserves through its 100% subsidiary, Lok Cement, in district Kadapa, Andhra Pradesh.
This will increase Birla Corporation’s cement despatches by 7.6% and 19% in FY09E and FY10E, respectively. The stock trades at a one-year forward priceto-earnings (P/E) multiple of 3.7x and EV/EBITDA of 2.6x. Asset valuations of $36 per tonne FY09E are much lower than the replacement cost of $100 per tonne, compared to its peer group of the same size and recently-concluded M&A deals.
HSBC reiterates ‘overweight’ rating on UltraTech Cement and maintains a target price of Rs 1,300, implying a potential total return of 44.4%. UltraTech’s 4.9-mtpa capacity expansion in Tadapatri (Andhra Pradesh) and phase I of its captive power plant in Gujarat are on schedule and likely to be commissioned in Q4 FY08. The company plans to spend Rs 3,300 crore over the next three years for capacity expansion, decongestion and setting up a captive power plant. HSBC expects significant volume growth due to new capacity expansion. UltraTech’s performance has improved, as indicated by its year-to-date results. While most cement companies faced cost pressures, UltraTech’s total operating cost increased by just 10%, resulting in significant margin expansion.
This trend is likely to continue, with the commissioning of its captive power plant in the next two years. HSBC maintains its FY09 forecast and uses 7x EV/EBITDA FY09E derived from the historical trading range to set its target price at Rs 1,300. Under HSBC’s research model, for stocks without a volatility indicator, the neutral band is 5 percentage points above and below the hurdle rate for Indian stocks of 11.3%. For Ultra-Tech, this translates into a neutral band of 6.3-16.3% around its current share price.
CMP: Rs 773
Target Price: Rs 1,038
HDFC Securities has given a ‘buy’ on Tata Steel on expectations of economies of scale and growing steel demand. According to the brokerage, the valuations are compelling with increased integration milestone achievements and a bullish outlook on steel prices. It expects the demand for steel in Asia and Europe to grow at 4.8% and 1.4% compound annual growth rate (CAGR) respectively.
“Steel prices are expected to remain firm due to high raw material prices and rising supply constraints. Supply constraints in terms of poor port facilities at Australia and Brazil and high freight rates, will also keep the prices firm,” says the brokerage in a note to its clients.
Additionally, the synergies from the Corus acquisition is expected to start reflecting from financial year 2009, coupled with a reduction in concerns on financial leverage. Key risk factors include increased environmental awareness and exchange rates movements.
CMP: Rs 697
Target Price: Rs 1,200
Broking house JP Morgan has initiated coverage with an ‘overweight’ on Allied Digital (ALDS). “ALDS is a play on the strong domestic demand for IT services with more than 90% of its revenues coming from India. We expect the stock to deliver more sedate gains over the next 9-12 months, backed by high growth potential and management’s decent execution track record,” the brokerage said.
Indian domestic IT services is a $5 billion industry. It is expected to grow at a CAGR of 23% over the next five years to over $10 billion. JP Morgan believes the domestic IT exposure shields ALDS from concerns about a US slowdown, rupee appreciation and expiry of STPI tax benefits in FY10. The key drivers would be strong financial performance and possible acquisitions, using a part of the IPO proceeds, along with increased capacity utilisation of its remote IT management centres.
CMP: Rs 2,026
Target Price: Rs 2,529
Citigroup has reiterated its ‘buy’ on BHEL, but with a downward revision in price target as it feels that its operating leverage which is largely over and the cost reduction efforts are working against it. “BHEL expanded EBIT margins from 0% in FY01 to 18% in FY07 and right-sized its workforce from 75,000 to 42,000 in four successive voluntary retirement schemes (VRS) from 1999 to 2003, cutting down operational costs and benefited from operating leverage,” said the brokerage in a note to clients.
Capital goods companies significantly expand margins when there is spare capacity and sales grow at a rapid pace benefiting from operating leverage.
“We believe that there is great likelihood of BHEL’s earning before interest tax (EBIT) margins peaking in FY08E. Once this happens, earnings growth has to largely track sales growth and will not benefit from operating leverage benefits,” it adds. The brokerage, however, terms BHEL its top pick in the Indian electric equipment rated universe.
CMP: Rs 1698
Target Price: NA
Merrill Lynch has retained its ‘sell’ recommendation on Container Corporation of India on not so attractive valuations, given muted growth prospects. However, the company does have some huge capex plans.
“We are raising earnings per share (EPS) driven by upward revision to volumes and lower margin erosion. Still, we expect muted 12% EPS compound annual growth rate (CAGR) over FY08-10, compared with 9% growth this year,” said the brokerage. The company is yet to finalise its scaled up capex plans of Rs 40 billion (from Rs 20 billion), to be spent over the next three years.
The brokerage believes that this will be largely directed towards initiatives across the value chain and through joint ventures, which will protect existing volumes and reduce project risk. However, the uncertainty and lag effect of benefits could impact stock performance. It believes that the stock is not attractively valued on traditional parameters, even though the stock trades at 13 times its one-year forward PE multiple.
Emkay Share and Stock Brokers has initiated 'buy' on Elder Pharma for target price of Rs 535. Unlike its peers, Elder chose the in-licencing model over manufacturing of generic versions of patented molecules, which has helped it build high credibility in the international space.
The company expects more in-licensing deals going ahead to enhance product portfolio and drive growth. The recent acquisitions of NeutraHealth and Biomeda are strategic decisions to increase its global reach and the benefits of these initiatives will be seen over the next two to three years.
Emkay expects total exports to grow at CAGR 69.4 per cent over FY07-FY10E. Moreover, these acquisitions have created additional CRAMs opportunity for the company. Also, Elder is on its way to generating substantial cost savings by shifting its manufacturing activities to tax-free zones of Uttaranchal and Himachal Pradesh.
Emkay expects operating margins to improve by 200 basis points from 17.4 per cent in 2006-07 to 19.4 per cent in FY10E. It expects Elder to report strong growth in revenues at CAGR 27 per cent during FY07-FY10E. The brokerage expects the company to record net profit growth at CAGR 34 per cent during FY07-FY10E.
At the market price of Rs 375, the scrip discounts FY09E EPS of Rs 44.6 by 8.8x and looks attractive for long term investment.
Emkay has initiated ‘buy’ on the stock for target of Rs 860. Having pioneered the "Plastic Water Tanks" in India, Sintex Industries has moved ahead to providing turnkey solutions like prefabricated structures, monolithic construction, custom molding for the auto & power sectors.
The major thrust of the government on rural housing, health & sanitation infrastructure coupled with increasing investment in telecom infrastructure holds good for the company.
Sintex is also benefited by the increasing use of plastic moldings for automobiles. The company also has a textiles division focused on premium segment which continues to provide steady cash flows to the company.
Emkay is positive on the company's strategy of innovating products in order to meet its market demand. Sintex is also undertaking growth through organic & inorganic route which will lead to increase in market share & entry into new markets.
The brokerage expects Sintex’s revenues and profit after tax for the period FY07- FY10E to grow at a CAGR of 55 per cent & 66 per cent respectively.
Kalindee Rail Nirman
Emkay has initiated ‘buy’ on Kalindee Rail for a price target of Rs 592, an upside of 48 per cent from current levels. Kalindee Rail Nirman, whose fortunes are closely linked to the infrastructure spends of the Indian railways, is on the fast track to growth. The ambitious capital expenditure plans of the Indian Railways have presented the company with a huge Rs 300 billion opportunity.
The upgradation of existing rail network, dedicated freight corridor, plans to set up metro rails and orders from private players to provide linkages are likely to ensure a fat order book for Kalindee Rail Nirman in the years to come, says Emkay.
At present, the company has an order book of Rs 500 crore with new orders worth Rs 300 crore to flow in over the next six months. Emkay expects the company to post 63 per cent and 88 per cent CAGR in revenues and profits respectively during FY07-10E period. The brokerage expects fully diluted EPS of Rs 10.1, Rs 23.6 and Rs 49.3 in FY08-10E.
Motilal picks: Maruti Suzuki, M&M, Tata Motors, Bajaj Auto, Hero Honda, TVS Motor
Motilal Oswal Securities has maintained ‘buy’ on Maruti Suzuki. The company reported growth of 1.3 per cent in February 2008 sales to 63,822 units. Domestic volume growth was flat at 0.4 per cent; volumes were 59,311 units. However, export growth momentum remained robust, as sales increased 15.5 per cent year on year to 4,511 units.
During February 2008, sales growth in most segments was negative, except for the volume driver A2 segment (plus 2.7 per cent year on year) and the A3 segment (plus 8.9 per cent year on year).
Motilal believes that the lower domestic growth was due to postponement of purchases following expectations of excise duty reduction in Budget 2008. The brokerage expects strong volume growth from March 2008 onwards, boosted by the excise duty reduction from 16 per cent to 12 per cent on small cars (constituting 77 per cent of MSIL’s product portfolio).
Motilal believes that the reduction in the excise duty may lead to volume upgrades due to robust domestic demand. Currently, the brokerage expects MSIL to register volume growth of 16.1 per cent in 2008-09 and 16.5 per cent in 2009-10. The stock trades at 13.1x FY08E EPS of Rs 66.7, 11.4x
FY09E EPS of Rs 76.8 and 9.9x FY10E EPS of Rs 88.6.
Motilal estimates that the price reduction would average Rs 10,120 per car for MSIL.
Mahindra & Mahindra
Motilal has maintained ‘buy’ on the stock. M&M reported volume increase of 13 per cent year on year in February 2008 to 23,446 units (excluding Logan). Inclusive of Logan sales, volumes have increased 26.3 per cent year on year.
UV sales growth recovered strongly after two consecutive weak months in December and January, increasing 39.1 per cent year on year to 13,858 units. Scorpio sales increased by 28 per cent, non-Scorpio UVs by 34 per cent and exports by 170 per cent.
In passenger cars, Logan sales were also impressive at 2,751 units (plus 19.6 per cent month on month). However, tractor sales continued to disappoint, declining by 6.9 per cent year on year to 6,522 units; both domestic sales and exports declined by 7 per cent each. Three-wheeler volumes were also disappointing, declining by 22.8 per cent year on year to 2,347 units.
With several growth drivers for the company over the next few years coupled with attractive valuations, Motilal remains positive on M&M. The brokerage expects volume growth of 7.5 per cent and 6 per cent in 2008-09 and 2009-10 respectively for tractors, and 11 per cent and 10 per cent in 2008-09 and 2009-10 respectively in UVs.
While the agriculture sector growth is expected to be lower at 2.6 per cent in 2007-08, Motilal believes that the budget offers positives for the sector in terms of increased agricultural credit (Rs 2,400 billion by March 2008, target of Rs 2,800 billion by 2008-09) progress in Bharat Nirman, focus on water resources, and the debt waiver and debt relief scheme for farmers.
This is positive for tractor companies like M&M and Punjab Tractors. Their tractor volumes may see an upside from the continued agricultural and rural sector focus seen in the recent budget. The stock trades at 10.9x FY08E EPS of Rs 62.5, 9.2x FY09E EPS of Rs 74.7 and 7.9x FY10E EPS of Rs 86.9.
Motilal has maintained ‘buy’ on the stock. Tata Motors reported total volumes of 54,181 vehicles for the month of Feb (plus 0.9 per cent year on year but lower 1.1 per cent month on month). Medium and Heavy Commercial Vehicles volumes were robust at 17,814 units (plus 0.6 per cent year on year and plus 7.9 per cent month on month); these are the highest monthly M&HCV sales in 2007-08.
Domestic M&HCV sales growth was also higher at 3.6 per cent year on year. Light commercial vehicles continued to witness robust volumes,
increasing by 29.5 per cent year on year, domestic LCV growth was 25 per cent. Total domestic commercial portfolio grew 12.8 per cent year on year in February 2008.
Passenger cars declined 19.4 per cent year on year, while UV sales were higher by merely 0.7 per cent year on year. The growth rate in passenger cars may have been impacted due to budget expectation of an excise duty cut. Tata Motors has announced price reductions in the range of Rs 8,500 - 15,300 on the Indica and Indigo CS after the Budget.
Motilal expects the passenger car industry to register a healthy growth rate in the coming months due to incremental demand from lower excise duty rates and increased disposable incomes following reduction in personal tax rates and higher slabs. The stock trades at 13.4x FY08E EPS of Rs 51.9, 11.6x FY09E EPS of Rs 59.6 and 10.3x FY10 EPS of Rs 67.4.
Motilal has maintained ‘buy’ on the stock. Bajaj Auto reported volume decline of 9.1 per cent year on year in February 2008 to 183,807 units, with
disappointing volumes in all the segments. Motorcycle volumes declined by 7.6 per cent year on year to 158,662 units, while three wheelers sales were lower by 13.2 per cent year on year to 24,299 units.
However, export growth was robust at 65 per cent year on year to 63,182 units. The company has stated that 3-wheeler demand is lower due to poor domestic demand, but exports are expected to compensate for volumes. In motorcycles, the company has seen strong sales in its +125cc portfolio comprising of XCD, Discover, Avenger and Pulsar.
The company estimates that the 100cc saw a 13 per cent decline in volumes, while sales in the +125cc segment were stable, leading to a decline of 10 per cent in the motorcycle industry. The management has given guidance of positive overall growth for 2008-09 owing to the twin focus on bigger motorcycles and international markets.
Motilal believes that the lower domestic growth may be partially due to postponement of purchases following expectations of excise duty reduction in Budget 2008. The brokerage expects volumes to be boosted by the excise
duty reduction from 16 per cent to 12 per cent and it expects volume growth of 10 per cent in 2008-09 and 8 per cent in 2009-10 in motorcycles.
Motilal believes that the reduction in the excise duty may lead to volume upgrades due to robust domestic demand, thereby providing an upside to their estimates. The brokerage has lowered their volume estimate for BAL in 2007-08 and expects motorcycle volume decline of 8 per cent in 2007-08 (previous estimate decline of 5.5 per cent. EPS estimates stand reduced by 1.5 per cent and 0.9 per cent respectively for 2007-08 and 2008-09. The stock trades at 17.5x FY08E EPS of Rs 128.9, 14.9x FY09E EPS of Rs 151.1 and 13.4x FY10E EPS of Rs 167.7.
Motilal has maintained ‘buy’ on the stock. Hero Honda has reported a volume decline of 5.4 per cent year on year in its sales for February 2008 to 265,431 units. Sales in YTD 2007-08 have declined marginally by 1.4 per cent year on year.
Hero Honda has announced a price decline in the range of Rs 1,000-2,400 after the excise duty cut in the budget. The company has said that it expects sales to improve post the reduction in the excise duty, and has passed on the entire benefit of the duty reduction to the customers.
Motilal expects volume growth of 8.6 per cent in 2008-09 and 8.1 per cent in 2009-10. A positive response to the lower excise duty rate may result in an upside to the brokerage volumes estimates for 2008-09 and 2009-10, while further extension of the credit squeeze provide a downside risk to the same. The stock trades at 16.7x FY08E EPS of Rs 46.2, 14.6x FY09E EPS of Rs 53.1 and 13.2x FY10E EPS of Rs 58.4.
Motilal has maintained ‘neutral’ on the stock. TVS Motors reported 20.7 per cent year on year decline in its February 2008 sales to 95,235 units. The decline was again led by lower motorcycle sales (-34 per cent year on year) to 46,565 units. However, on a month on month basis, motorcycle sales increased by 19 per cent.
Scooter sales declined 29 per cent year on year to 14,126 units. However, moped sales were robust at 34,544 units ( plus 15.1 per cent year on year). Exports increased by a robust 56.2 per cent to 12,523 units.
TVS plans to relaunch the much delayed Flame with a new engine this month; this might provide respite to the declining motorcycle volumes. The management has reiterated that its volumes have been negatively impacted by restricted availability of retail finance, high interest rates, stringent norms being followed by financers and non-availability of the 125cc Flame due to legal reasons. The stock trades at 16.5x FY09E EPS of Rs 2.6 and 13.1x FY10E EPS of Rs 3.2.


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Now not everyone can afford an ad agency, but everyone can be inspired by the work of these creative professionals. One moving example is the recent CLIO award winner in the interactive category, designed by advertising agency CP+B Gothenberg who architected a mobile app to promote a video game.
As outlined in the video above, the company launched a free standing app, “Autodance” that proves that anyone can dance, passively promoting the idea that anyone can dance along with the “Just Dance 3” video game. Autodance is akin to auto-tune which uses technology to alter voices, making it sound like anyone can sing well.
Autodance records and syncs movements to three varied pre-loaded dance tracks and instantly turns any person (or cat, dog, turtle, bus, etc.) into a dancer. Users are encouraged to upload the video and share across social networks, tapping into the viral potential of the campaign.
Originally launched in Europe, by Christmas last year, the app already had 3.2 million downloads, and over 1.2 million videos created through the app and shared on YouTube and Facebook, resulting in over 2.5 million comments and likes on Facebook. More importantly though, it became the top selling video game in Europe – the ultimate ROI.
Getting results from your advertising
While traditional and social media advertising campaigns lead to word of mouth marketing, getting a viral hit is difficult, but it doesn’t always require an expensive ad agency. Think about how Autodance relates to the video game – it got everyone to think about dancing and convinced millions that they too could dance. The campaign took the intimidation factor out of their product.
Through video or other means, think about what you can do to take away any intimidation factor of your product or services, get consumers to think about using your brand organically, and add some fun, and you’ve cracked the code of the mega ad agency.


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Crypto Panic — Is it Real This Time?
Bitcoin’s wild swings continue. And they’re happening fast.
The world’s most popular cryptocurrency started the week on a rough note, falling 7% from $8,452 to $7,936 as of 4:00 p.m. EST Monday.
Today the coin sits at $7,885 as I write. Here’s the chart for the past week as of 11 a.m today:
Year to date is even more disheartening.
Bitcoin’s incredible fall from grace erased over 40% of its value since Jan. 1, as it fell from $13,412.
According to CNBC, the most recent sell-off is a result of news that Twitter will ban initial cryptocurrency offering (ICO) ads on its platform.
A Twitter spokesperson speaking to CNBC notes, “We have added a new policy for Twitter ads relating to cryptocurrency. Under this new policy, the advertisement of initial coin offerings (ICOs) and token sales will be prohibited globally.”
According to CoinDesk, the “bearish chart signals suggest a drop in prices is likely, though the four-hour, 50-period moving average (MA) has likely capped the downside around $8,200.
It looks like Bitcoin could hover and even drop below this current bottom for days, maybe weeks.
But what’s truly fascinating about bitcoin’s price action is that it’s actually nothing new.
This isn’t the first time ICOs have been banned from a major internet site. Facebook and Google both have recently revised their policies, banning ICO ads on their sites and platforms as well.
And this isn’t the first time general negative sentiment from the mainstream has caused bitcoin to drop in price.
According to our own crypto expert Rich Jacobs: “We’ve seen this phenomenon multiple times throughout the past two years in crypto. Crypto has lived through many downturns — some extremely severe, but most short-lived.”
The point is bitcoin always finds a way to bounce back and rip gains. Right now it just happens to be two-steps forward, one step back.
Cryptos don’t need Twitter and Facebook to exist. The intrigue is already there.
Many experts in the space note that we’re just seeing typical “cyclical market action” at an accelerated pace.
While attending the recent Bitcoin, Ethereum & Blockchain SuperConference, hosted by our very own Rich Jacobs, John McAfee noted the same:
“You need to stretch a crypto chart over a 2x magnitude and it mirrors equities… because transactions move faster (they’re compressed), meaning the up and downs happen quicker, i.e., look more volatile.”
And Rich notes a similar positive outlook on bitcoin’s recent price action:
“It’s important to keep in mind that early movers who bought many crypto tokens just a year ago and have held on haven’t given back their gains. By holding on and not panicking, or even buying on the dip, you have put yourself in a great position for when the market rallies.”
Rich’s takeaway on the current crypto market is clear and the one-year chart highlights this perfectly:
Tracking bitcoin right now is a fascinating exercise in how people conduct themselves in open markets. Since we know markets always, eventually bounce back…
The question is will you catch the next rip for amazing profits?
More on the state of Bitcoin to come in following issues.
For Technology Profits Daily,
Managing Editor, Technology Profits Daily


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VIRGINIA BEACH, Va. (WAVY) — Virginia Beach restaurants are inviting foodies across Hampton Roads to help celebrate 18 years of Virginia Beach Restaurant Week.
This year’s event is set for January 16-22 and includes specially designed menus and pre-fixe pricing. Restaurants will be incorporating The Pineapple, the traditional symbol of hospitality in their décor, beverage or menu options.
Restaurant Week is a time for the community to come together and not only support local businesses, but enjoy some of the best cuisine and atmosphere in town.
- Breakfast – 2 courses, $10 and $15
- Lunch – 2 courses, $15 and $20
- Dinner – 3 courses, $25, $35 and $45
Dine and Stay options: In partnership with Virginia Beach Hotel Association members, select hotels will be offering discounted rates during VBRW.
To view participating restaurants, menus, and more, CLICK HERE.
Check WAVY.com for the latest updates.


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Favored by the world's top car LED headlightsby Ente G. LED lighting for sale
According to market research firm IMS Research's report, Osram LED optical semiconductor market is the world's largest automotive supplier, in 2007 about 23% share in the LED light vehicle market, Lumileds and Nichia place, followed share was 16% about.
Felder noted that the current global vehicle sales of LED application in about 500 million to 600 million euros, in the car interior, such as car dashboards, car radios, the switch has been 100% is the use of LED, and this trend is moving from car applications to accelerate the penetration vehicle applications. "LED is automotive taillights, headlights and even market quickly engulfed the original general lighting market, such as Europe began to spread with daytime driving light (DRL)." led grow lights https://www.eneltec-led.com/products/led-grow-lights
Currently, Xenon headlights in cars still use is widespread, but its power consumption, and take up a lot of space, so some of the top auto manufacturers are turning to the use of LED, such as Toyota, Audi, and GM, respectively, in their part on the application of high-end cars OSRAM LED headlight module, where Toyota is clear that across the board in 2015 to phase out incandescent bulbs. best led headlights http://bestledheadlight.com/
Created on Aug 12th 2021 02:40. Viewed 50 times.
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Popular Demand Fuels 2021 Dodge Durango SRT Hellcat Sales
Dodge quickly sold out of the 2,000 units it planned to make of the all-new 2021 Durango SRT Hellcat. The 710-horsepower behemoth actually sold out in about three months, with demand far exceeding supply — not an unexpected consequence given the popularity of some of Dodge’s most potent engines. Performance-hungry enthusiasts will be overjoyed to learn that the automaker will manufacture additional units of the 2021 Durango SRT Hellcat. Now, this doesn’t mean that Dodge is opening up the order books again.
Bob Broderdorf, company director, explained Dodge currently has more sold orders than available build slots in its system. Opposed to handpicking which customers would receive their Durango SRT Hellcat, Dodge instead pledged to honor every request it has received. Like we mentioned prior, the order books aren’t being reopened, thus the opportunity to buy a new one from the factory is no longer an option. That said, the model is expected to make its way to dealerships nationwide, so those interested can keep hope alive that they’ll be able to get behind the wheel of the 2021 Durango SRT Hellcat.
This little bump in the road doesn’t come at the best time for Dodge. The automaker claims fulfilling all the orders isn’t as simple as it sounds because they can only manufacture the model for six months at the Jefferson North Assembly Plant on the outskirts of Detroit. Dodge’s parent company, Stellantis, is busy retooling a large part of that assembly plant for the production of the next-generation Jeep Grand Cherokee. As it stands, the Hellcat-powered Durango has a limited lifespan as emissions regulations loom large for the 2022 model year. Without a moment to spare, Dodge quickly shuffled its plans and immediately sent more Hellcat bits to the Durango assembly line.
“As we finalized the production plan for this amazing SUV, we found a way to move some 6.2-liter HEMI Hellcat V8 engines from other vehicles to ensure every sold order in our systems will get built,” stated Broderdorf during an interview with Dodge Garage — an official publication of Stellantis. Broderdorf also mentioned the next batch of Hellcat Durangos is slated to be built in June (2021).
As is customary, Dodge declined to comment on ongoing production, so there’s no way to tell just how many units the automaker will eventually build of its famed Durango SRT Hellcat. A final number of units will be available post-production. One fact remains the same, the 2021 Dodge Durango SRT Hellcat is not serialized — a few more units will have no bearing on its value or collectability. The 2021 Dodge Durango SRT Hellcat is Dodge’s latest halo product before the brand is forced to really take electrification seriously once regulations become more stringent. Here’s to innovation in Dodge’s future!
Experience the industry’s only three-row muscle car here at University Dodge. With seating for up to seven passengers, this family-friendly SUV with attitude might just be the one for you. Explore the latest Dodge Durango inventory here at University Dodge and schedule your test drive today! Follow University Dodge on social media to stay up to date with the latest Dodge news and offers.
Photo Source/Copyright: Stellantis


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Embattled Internet Service Provider (opens in new tab) Tiscali has fired its CEO and is pondering whether it should sell its broadband business including its crown jewel, 2 million UK internet subscribers.
Vodafone and Sky are reportedly interested in acquiring Tiscali UK; Tommaso Pompei, its former CEO, had announced back in January 2008 (opens in new tab) that the company would expect its businesses to be purchased by 2010 by bigger rivals.
Tiscali has been often associated with mediocre support (opens in new tab) and sub-par quality of service and internet speed.
It came last in a recent survey with a paltry 1.72mbps speed and has often been caught blocking users' traffic although it came on top of another customer satisfaction survey in December 2007.
Tiscali acquired Pipex back in June 2007 and has actively promoted its new landline phone service as well as its Video on Demand services (opens in new tab).
The Italian-based copany, which is also UK's fourth largest ISP, has also announced that it will relaunch Toucan Mobile which runs on the T-Mobile network.


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According to information from some leakers, the small map of Warzone, Rebirth Island would be about to be replaced on the occasion of the launch of season 2.
Aside from the traditional Battle Royale experience on Verdansk or Caldera, Warzone players also have access to a smaller, faster-paced map, Rebirth Island.
With a lobby limited to 40 players and a considerably smaller layout, those looking for faster gunfights and explosive action often flock to the Rebirth playlist.
But unfortunately for all fans of this map, all of that could be about to change, as “some kind of new Rebirth map” is reportedly about to see the light of day, according to famous Call of Duty leakers, Tom Henderson and TheMW2Ghost.
The end of Rebirth Island in Warzone?
Only 13 months after the arrival of Rebirth in Warzone, this map could soon be replaced as these leakers claimed during a live on January 27.
“I was recently told that a new card was coming.” said TheMW2Ghost. “It’s a new map and it’s for Warzone’s anniversary.”
However, the exact details regarding this new map are currently rather hazy. We don’t yet know anything about the range of this card or its location.
The leakers are however convinced that it is an original design. They admitted that there is a small chance that this launch is purely a “new themed version of Rebirth.”
All plans seem to be on hold, and TheGhostOfHope, another reputable CoD source, added that the developers aren’t even sure if this new map “will replace or alternate with Rebirth Island.”
There is a possibility it’s for Warzones anniversary which would be Season 2 reloaded. I’ve personally heard Season 3 but I know that MW2Ghost teased anniversary for a new Resurgence map. https://t.co/01aEz0qJ9z
—Hope (@TheGhostOfHope) January 27, 2022
Furthermore, even the launch date of this new map still seems to be in question. As Warzone’s anniversary falls on March 10, this could therefore indicate a launch during the Season 2 Reloaded Update.
However, other sources indicate that Season 3 is more likely for a release date.
Since Warzone Season 2 was recently delayed with a new launch set for February 14, Warzone’s anniversary falls in the second chapter of the Pacific Era.
So we just have to wait and see if this new card will arrive during this anniversary or not.