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Manuel Ilagan, one of the nine jurors who ruled in favour of Apple, told CNET he thought Samsung's internal emails about incorporating some of Apple's technology into its devices and the evasive way Samsung executives answered questions was damning.
(Credit: Vicki Behringer)
Apple v. Samsung juror Manuel Ilagan said that the nine-person jury who heard the patent infringement case between the companies knew after the first day that it believed Samsung had wronged Apple.
Ilagan told CNET in an exclusive interview that the jury had several, sometimes "heated", debates, before reaching its verdict yesterday. He also said nothing in the deliberation process was rushed and that the jury carefully weighed the evidence.
"We found for Apple, because of the evidence they presented," Ilagan said. "It was clear there was infringement."
Asked to point to some of the more compelling evidence, Ilagan said:
"Well, there were several. The emails that went back and forth from Samsung execs about the Apple features that they should incorporate into their devices was pretty damning to me. And also, on the last day, they showed the pictures of the phones that Samsung made before the iPhone came out, and ones that they made after the iPhone came out. Some of the Samsung executives they presented on video [testimony] from Korea — I thought they were dodging the questions. They didn't answer one of them. They didn't help their cause."
Ilagan highlighted another area where Samsung lost the jury: its offensive on Apple that claimed Apple violated two of its patents relating to 3G wireless technology. One patent involved the baseband chip in the iPhone and iPad with 3G. During the trial, Apple turned around and pointed to a licensing deal Samsung had with Intel, which made the chips Apple used. Under that deal, Apple said, Samsung was not able to sue any companies Intel sold to. Apple then presented the receipts from when it purchased the accused chips from Intel.
The jurors came to their decision in 21 hours, or less than three work days. They ruled in favour of Apple on a majority of its patent infringement claims against Samsung. The jury also awarded Apple more than US$1 billion in damages.
Apple had originally sought US$2.75 billion in damages. Although it wasn't unanimous on all counts, the verdict was a major victory Apple. Samsung, which asked for US$421 million in its countersuit, didn't convince the jury that Apple infringed on any of its patents, receiving nothing in damages.
The decision was very one-sided, but Ilagan said that it wasn't clear the jurors were largely in agreement until after the first day of deliberations.
"It didn't dawn on us [that we agreed that Samsung had infringed] on the first day," Ilagan said. "We were debating heavily, especially about the patents on bounce-back and pinch-to-zoom. Apple said they owned patents, but we were debating about the prior art [about the same technology that Samsung said existed before the iPhone debuted]. [Velvin Hogan] was jury foreman. He had experience. He owned patents himself. In the beginning, the debate was heated, but it was still civil. Hogan holds patents, so he took us through his experience. After that, it was easier. After we debated that first patent — what was prior art — because we had a hard time believing there was no prior art, that there wasn't something out there before Apple.
"In fact, we skipped that one," Ilagan continued, "so we could go on faster. It was bogging us down."
To those who are sceptical that the jury could reach a decision so quickly on more than 700 often complex patent questions, Ilagan denied they tried to hurry the process. He said jury members took their job seriously and didn't take any shortcuts.
"We weren't impatient," Ilagan said. "We wanted to do the right thing and not skip any evidence. I think we were thorough."
The deliberation process moved faster once all the jury members had agreed that Apple's patents were infringed.
"Once you determine that Samsung violated the patents," Ilagan said, "it's easy to just go down those different [Samsung] products, because it was all the same. Like the trade dress — once you determine Samsung violated the trade dress, the flat screen with the bezel ... then you go down the products to see if it had a bezel. But we took our time. We didn't rush. We had a debate before we made a decision. Sometimes, it was getting heated."
A bezel is a term analogous with the non-functional area around a digital screen, and the word also refers to an ornamental band around the front face. In Apple's first iPhone, the bezel was polished chrome, a look that stayed with the device for three generations, until the iPhone 4.
During the trial, Samsung attempted to undercut the importance of the bezel. This included bringing out one of its design experts to say that the feature was functional, and therefore, that it dictated form — a part of Samsung's argument that jurors appear to have actually bought, based on what was a very mixed ruling of infringement on the patent that covers the look of that feature.
Another sign that the jury didn't just decide to check off all the Apple boxes on the jury form and call it a day, was that the jurors denied some of the Apple claims. They found that Samsung infringed Apple's utility and design patents with some, but not all of the accused Samsung products.
They also concluded that Samsung had violated Apple's trade dress for the iPhone, but decided that Samsung had not violated Apple's unregistered trade dress claims regarding the iPad.
According to court documents, trade dress is the "non-functional, physical detail and design of a product, which identifies the product's source and distinguishes it from the products of others".
"We were debating the unregistered trade dress claims," Ilagan said. "That took a while, because some of the guys wanted to give protection to round corners, the icons and rectangles, but they were not registered. So, some of the jurors said 'why are we playing patent office? We're not the patent office. It's not even registered'. And some of the jurors, when you look at the combination of those features, said it looks like an Apple. But we didn't want to shut out Samsung from the market, because we thought, 'OK, well, if Apple had tried to get a patent for all that stuff and didn't, so now they wanted us to be the ones to get it for them'. We didn't want to do that."
Ilagan also said that there was no hometown bias.
"We weren't going for Apple," Ilagan said. "We were going by the judge's instructions on how we should go about it, and we stuck to that. We weren't thinking Apple or Samsung."
As far as the deliberation process was concerned, each of the jurors had some kind of expertise or played some role that helped the process go smoothly. Hogan, the jury's foreman, owned a company that has gone through the lengthy process of obtaining a patent. He was also on a jury three prior times.
The two women on the jury, Luzviminda Rougieri and Aarti Mathur, helped keep the discussion on track and within the rules, Ilagan said. One of the jurors, believed to be Peter Catherwood, is a project manager with AT&T and he helped the group add up damages, Ilagan said.
"I was vocal about the technical [issues], about the power controls, because I know that stuff," Ilagan said. "I work on that."
Ilagan has a bachelor's degree in mechanical engineering. He has worked as a systems engineer for Western Electronic and as an applications engineer for Stanford Telecom.
Four of the nine jury members, who all lived in the area around San Jose, California, where the trial was held, had experience working for technology companies, including Intel and AT&T. Hogan worked for a hard drive company.
Finally, Ilagan was asked if the jury understood that this was a major case and the ramifications that its decision could have on the market.
"I realised that's a big deal if Samsung can't sell those phones," Ilagan said. "But I'm sure Samsung can recover and do their own designs. There are other ways to design a phone. What was happening was that the appearance [of Samsung's phone] was their downfall. You copied the appearance ... Nokia is still selling phones. BlackBerry is selling phones. Those phones aren't infringing. There are alternatives out there."
CNET reporter Josh Lowensohn contributed to this story.


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The clock is ticking for New York's cannabis regulators as they are expected to approve the first batch of legal cannabis dispensaries by the end of this year.
The Conditional Adult-Use Retail Dispensaries (CAURD) program, which will launch the sale of recreational cannabis in New York, received about 900 applications.
As planned by New York cannabis regulators, the first dispensaries will be run by individuals who have been directly or indirectly affected by the war on drugs, have run a successful business on their own for at least two years, and have had a significant presence in New York.
Tremaine Wright, chair of the Cannabis Control Board (CCB), said on November 4 that New York regulators would approve adult-use cannabis retailer licenses in weeks.
Meanwhile, the Office of Cannabis Management (OCM) has recently released guidelines for some of the state's cannabis dispensaries.
The 27-page document provides guidelines for staff training, inventory, and record keeping.
While this document clears up some questions, much remains to be known about the implementation of the CAURD program.
One question that still remains about the draft regulation is how conditional dispensary licensees will fund a dispensary and pay for its day-to-day operations.
The CAURD applicants who receive a conditional dispensary license will lease the space provided by the Dormitory Authority of the State of New York (DASNY), paying a monthly rent.
As highlighted by the cannabis lawyer Jeffrey Hoffman, there are no loans for CAURD applicants at this time.
"The money raised will be used to build the dispensaries for those applicants, and the licensees will pay rent to the DASNY to occupy those spaces," he told NYSCC.
However, Hoffman has also explained that there may be a loan fund at some point, but the primary use of the funds is allocated for the building of DASNY spaces.
David C. Holland, President of the NYC Cannabis Industry Association and Legal Advisor to the Last Prisoner Project, told NYSCC that New York State is supposed to be the guarantor on the lease to the landlord and the card applicant who gets the license for the conditional dispensary.
"They will pay rent to the landlord, but it's guaranteed by the state so that if, for any reason, the applicant cannot keep up, the state can take them out of that space and put in a different tenant," he said.
Essentially this means that the CAURD applicants will not own the property where they run a dispensary.
There are other loan options at this time. For example, New York Social Equity Cannabis Fund provides access to a loan.
To help CAURD applicants to open up dispensaries, New York established a public-private limited partnership named New York Social Equity Cannabis Investment Fund.
The fund aims to help CAURD applicants finance the leasing and equipping of up to 150 conditional adult-use retail dispensaries in New York State. CAURD applicants could also arrange a non-recourse loan agreement with the fund. As the fund's term sheet summary states, it can allow prepayment of the debt without any penalty at a fixed rate that cannot exceed the prime lending rate plus 50% of the maximum interest rate set at 16% per annum.
But Hoffman explained that if there is a loan fund CAURD licensees, it will be used for operating expenses rather than capital expenditures.
Holland said that if the CAURD draft regulations are changing, the situation needs to be clarified, even for particular details regarding the space for opening a dispensary.
Holland mentioned hearing rumors that New York regulators may allow the CAURD retailers to use their own space to build a dispensary instead of getting the location assigned from the DASNY.
"This is a huge difference because many people have a place already that they're operating out of," he said.
For the moment, rumors are all people have to work with until new clarification is released. New York cannabis regulators must clarify further details regarding the CAURD licenses to implement New York's cannabis legislation and open the legal market.
While no announcements about the CAURD process have been released, there have been announcements about more particular matters. Back in June, Gov. Kathy Hochul announced that entities belonging to former NBA player Chris Webber and entrepreneur Lavetta Willis had been selected to manage a $200 million state cannabis fund to pay for the buildout of New York's first 150 retail dispensaries.
However, a NY Cannabis Insider investigation found that they may have a conflict of interests, as both have strong financial ties to the cannabis brand Cookies.
Additionally, Holland posited the possibility that New York may have collected about $40 million from the state itself when Gov. Hochul promised that the $200 million would be raised through private investors.
DASNY selected CBRE, a commercial real estate services, and investments firm, to find spaces for building dispensaries.
However, in August, local media outlets reported that they have yet to secure real estate. But in late October, a DASNY spokesperson revealed that the agency, acting as the agent of the fund, "is currently in active discussions with well over 50 property owners."
Part of the struggle to find space for building dispensaries is due to the strict regulations of New York's cannabis legislation regarding zoning requirements.
Under New York's Marihuana Regulation and Taxation Act, dispensaries and on-site consumption lounges can't be located within 500 feet of school grounds and 200 feet from houses of worship. Regulators may also impose rules on dispensaries' distance from one another, similar to the state's liquor license regulations.
Holland explained that New York regulators, on the one hand, aim to improve communities affected by the war on drugs, promote diversity and inclusion, and create jobs. But on the other hand, the strict zoning requirements to open a dispensary make it hard to find the right place in a city setting.
"Some locations may be easier to find in rural upstate New York, but in New York City, that's going to be tough," he said.
Another aspect to consider why the DASNY and CBRE may find it hard to find spaces for cannabis dispensaries is that landlords, owners, and other entities are hesitant to allow to use of their properties for building up dispensaries and wonder how much value could add to building a dispensary on a property.
Hoffman told NYSCC that DASNY would be building turnkey sites for the CAURD licensees. To do so, it made a request for proposals (RFP) for a designed-build partner, which closed at the end of June. However, the CAURD licensee could customize their dispensaries to some extent.
New York regulators may be able to issue the final guidance rules by the end of this year, but the missing details of the implementation of the CAURD program may hinder the plan to open the legal market in time.
Dario Sabaghi is a freelance journalist with an interest in cannabis, providing in-depth analysis and feature stories to help readers understand the industry.
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Apple's disappointing results have hit shares in UK chipmakers and component suppliers who count the US technology group as a key customer.
Apple shares lost nearly 10% on its update, but the reaction among its suppliers has been less severe. Arm has lost 7.5p to 842p, but is off its low for the day of 832p, while Imagination Technologies is down 14p at 450.1p and Laird has lost 7.2p at 224.4p. Janardan Menon at Liberum Capital said:
Apple reported its lowest sales growth since 2009 with earnings per share declining year on year. Revenue was slightly below analyst estimates in the first full quarter following the launch of the iPhone 5. The results reflect slowing momentum in Apple's sales amidst rising costs.
The slowing sales and earnings growth at Apple is likely to reflect in slowing trends at its key suppliers as well. An overall loss of momentum in the smartphone market is also negative for Arm which derives the majority of its revenues from smartphones.
Analysts at Espirito Santo said investor sentiment would be unsettled by the Apple news. But it added:
Fundamentally we see limited readacross as the smartphone/tablet market continues to perform well. Furthermore, specific to Laird, during the call Apple noted that the rumours about specific component order cuts are an unreliable indicator of its business performance given the complexity of its supply chain as well as the fact that it uses multiple suppliers.
Overall the FTSE 100 has hit yet another new high since the middle of May 2008, passing through the 6200 barrier a little more comprehensively than on Wednesday. It currently sits 18.12 points higher at 6215.76.
Among the mid caps defence group Chemring has climbed 17.1p to 299.6p following its final results. These showed a 42% drop in earnings in a year of numerous profit warnings, failed takeover talks and management changes. The company, which makes flares and explosive device detectors, said profits had fallen from £120.2m to £70.1m and said defence spending in the US, UK and Europe remained under pressure. It will simplify its structure, and give priority to cost and cash management. In a buy note, Investec said:
Chemring's 2012 results are in line with our revised expectations, which counts as a positive given the recent history. We make only minor positive adjustments to our forecasts, consistent with the board's guidance, given the uncertainty and early stages of the turnaround plan. However, the results provide reassurance that group profitability can start to be recovered despite challenging end markets. Our new price target of 335p equates to 12.4 times 2014 earnings per share, undemanding given potential upside to earnings.
Icap has fallen 17.1p to 310p on reports the interdealer broker had been drawn into the City watchdog's libor-fixing investigation.


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For years, former NASA scientist Maarten Sierhuis worked on technology that would help the human race reach out to the stars. However, for his next project, Sierhuis is focusing on technology that is a little more grounded. According to a press release from Nissan, Former NASA scientist Maarten Sierhuis will help develop Nissan autonomous vehicles.
During his time at NASA, Sierhuis worked to develop a series of robotics-based intelligence systems to help aid the organization with their pursuit of space exploration.
Maarten Sierhuis will now take the knowledge and expertise that he used at NASA to help Nissan with a goal that they are currently trying to pursue: autonomous vehicle technology. Autonomous driving systems allow for vehicle to drive themselves without the direct aid of the driver. Even when the driver is in control of the vehicle, autonomous driving would serve as a monitoring system to help optimize vehicle safety.
Maarten Sierhuis is currently working on a project at the Nissan Research Center that uses autonomous vehicle technology to help navigate during travel on the highway.
“Bringing this new technology to society, it will change so many things,” says Sierhuis. “And call me crazy, but for me part of my drive of wanting to be thinking about these kinds of problems is that I want it to be done right.”
For Maarten Sierhuis, space was not the final frontier. Rather, his exciting journey continues with Nissan and their autonomous vehicle project!
The chairs come from the Japanese chair company Okamura but are powered by Nissan. Upon detecting a clap, the chair parks itself. A roomful of office chairs will go back to their designated locations with just one clap.
This system is operated by many cameras. Wi-Fi allows the bird’s-eye office camera system to be connected with the chairs. There are then four other cameras which keep track of the chair’s position and guide it back into place.
Nissan’s “Intelligent Parking Assist” technology is brilliantly demonstrated through these concept office chairs. This is the same system that allows a vehicle to be parked hands-free. The camera system steers the car and the driver only has to apply the brake and gas.
Camera technology is paving the way for self-driving vehicles. Nissan plans to develop more autonomous features and add the technology to at least ten vehicle models over the next four years. The year 2020 is the deadline for the ultimate goal: to have a fully self-driving vehicle.
These self-driving office chairs are mind-blowing and brilliant, but are unfortunately not available for purchase. You’ll have to self for the Park-Assist technology available in new Nissan cars. Not a bad consolation prize.
Car lovers that are expecting a car that drives itself sooner, rather than later, are about to be sorely disappointed. According to Nissan CEO Carlos Ghosn, who shocked the car world when he announced plans to offer consumers an autonomous car by 2020, these self-sufficient cars might not join the market so quickly. Instead, slow and steady appears to be the path autonomous car progress is going.
In a recent speech in Japan, Ghosn made Nissan’s new path toward autonomous driving clear. Rather than finishing a vehicle in 2020, the new plan was to gradually introduce a variety of innovations that will culminate in a fully autonomous vehicle. The year 2016 will be the first milestone with the introduction of traffic-jam assist and fully automated parking. Then, in 2018, some models will receive automatic lane changing, followed by a technology that will allow cars to handle intersections without driver inputs in 2020.
As Ghosn has said himself, “Self-driving cars remain a long way from commercial reality,” but if you’re looking for a great car with other innovative technologies, stop in to Cronic Nissan today!
When an auto maker has plans to introduce a new concept vehicle to the world it’s usually at a national auto show or during a large press conference. But Nissan decided to take a new spin on unveiling their Concept 2020 Vision Gran Turismo.
Instead of spending thousands of dollars to create the actual vehicle and have an extravagant showcase or spectacle of the vehicle in person, Nissan decided to introduce the Concept 2020 Vision Gran Turismo via the new Gran Turismo 6 video game. The Gran Turismo video game franchise is extremely popular with modified car enthusiasts and it made perfect sense to reveal the concept this way.
Over the last few weeks, Nissan has been teasing their audience with vague videos, showing off the vehicle’s features.
Unlike a traditional concept car, the Concept 2020 Vision Gran Turismo will only be available to players and their virtual garages for now. Nissan found this as a great way to display what one of their supercars could look like in the near future.
The creator of the Gran Turismo game, Polyphony Digital, asked other makes to create a Vision Gran Turismo concept for the game and Mercedes-Benz, BMW, and Mitsubishi have done so.
Many are saying that the Concept 2020 Vision Gran Turismo is an accelerated version of the highly anticipated 2015 Nissan GT-R, with similar features like the hood, headlamps, and shape of the car.
The GT-R has been creating a lot of buzz lately and excited many Nissan fans when it was announced that the vehicle would be a hybrid.
There are more details to come in July when the video game is released, but for now we can all drool over this hypercar and its incredible performance in the videos from Nissan.
What do you think of the Concept 2020 Vision Gran Turismo? If you think we should start carrying them in our dealership, stop by Cronic Nissan and let us know!
Nissan is planning to bring an all new sedan concept to the Auto China show in Beijing this April. There isn’t much information yet, but many suspect it will be a follow-up to last year’s Friend-ME concept.
That concept, which really was much better than its name, had a great design and tons of high-tech connectivity features. This year’s concept should follow much in the same strain and Nissan says, “The concept expresses Nissan’s passion and focus in the world’s most dynamic auto market.”
The car will be designed by Nissan Design China located in Beijing along with the Nissan Global Design Center.
Nissan will also feature some of its other new models at the Beijing show including the BladeGlider concept, the Autonomous Drive Car, and the all-new X-Trail.
We’ll be on the lookout for more information on Nissan’s new concept car so stayed tuned to Cronic Nissan for future updates.
Nissan knows how to kick off the new year the right way—with a teaser announcing that the new Sport Sedan Concept will make its debut in Detroit at the 2014 North American International Auto Show later this January. We’ve only been able to just glimpse the concept so far, but on January 13 the veil will finally be lifted and we’ll get our first full look at the dazzling new concept.
The Sport Sedan Concept, as we can confirm here at Cronic Nissan, does prefigure an eventual production model, widely rumored to be the 2015 Maxima. The released teaser image reveals a car with a similar profile—especially the front end styling—to the current Maxima while also showcasing Nissan’s “new energetic design direction.”
The 2014 NIAIS will also feature the North American premieres of the IDx Freeflow and IDx NISMO, futuristic compact vehicle concepts that took previously took the Tokyo Motor Show by storm.
With all this excitement—the promise of a new, sporty Nissan sedan and a flashy glimpse at the future of compact cars—slated just for January, it looks to be a very full and exciting year for Nissan!


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TiVo announced that Time Warner Inc.’s HBO has signed a long-term intellectual property license.
HBO’s new license will provide it access to the TiVo patent portfolios and the over-the-top assets of the Intellectual Ventures patent portfolio under the TiVo/IV licensing partnership.
“Our license agreement with HBO reinforces the value our innovative patent portfolios deliver to the OTT industry as we continue helping companies quickly adapt to a rapidly changing and fragmented media industry,” said Samir Armaly, executive vice president of intellectual property and licensing at Rovi Corporation, a TiVo company, in a statement.
Last year, prior to Rovi acquiring TiVo for $1.1 billion and taking on the TiVo name, Rovi signed an exclusive OTT partnership with Intellectual Ventures to combine their patents. The combined portfolio addresses OTT aspects including content management and delivery, streaming technologies and consumer-facing features and functionality.
“We chose Rovi as a partner because of its world-class licensing program and valuable patent portfolio, which is well established within the media and entertainment market,” said Cory Van Arsdale, senior vice president of global licensing at Intellectual Ventures, in a statement. “By bringing our patent portfolios together, we’ve created one of the most robust entertainment and media patent portfolios available anywhere in the world. This gives us an unparalleled opportunity to help drive further innovation for our joint customers in the rapidly growing OTT industry.”
For HBO, the OTT licensing deal comes amid reports that the company is disappointed in the growth of its HBO Now direct-to-consumer product, which appears to have been hovering around 1 million subscribers for some time now.
During HBO’s third-quarter earnings call last year, CEO Richard Plepler seemed encouraged by the service’s performance.
“On your OTT question, we couldn't be more pleased or enthusiastic about what we are seeing this year. We have seen substantial growth with HBO Now. We expect that to continue, of course, across all of our digital distribution, including HBO Go,” Plepler said.


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COLUMBIA — Insect-filled cicada ice cream never had a chance to be placed in the display case at Sparky's Homemade Ice Cream before it was all gone.
Surprising the employees at Sparky's, the new flavor was so popular that it sold out Wednesday night before it was set to be out for display on Thursday.
"When we opened, Tony was just bombarded," Christian Losciale, an employee at Sparky's, said about the rush of customers looking for cicada ice cream Thursday morning. Sparky's employee Tony Layson was the first in the shop when it opened on Thursday.
The ice cream was supposed to make its debut Thursday, but as Columbians got word of the new flavor on Wednesday, curious customers went in early to see if they could try a scoop or two.
"Before we could put it out front we were selling it out of the back,"said Augustine Accurso, an employee at Sparky's about the sales Wednesday night.
After doing research online and tossing the idea around for a while, employees at Sparky's decided to go ahead with the idea of incorporating cicadas, the current seasonal pest, into its homemade ice cream.
"I didn't expect many people to try it," Accurso said. "We just made half of a batch as a fun, experimental batch." Accurso, Losciale and manager Ashley Nagel made the batch together.
The owner of Sparky's, Scott Southwick, had similar thoughts on how popular the new flavor would be.
"We thought we'd make a small batch and it would last forever," Southwick said.
The sales of cicada ice cream on Wednesday night proved otherwise.
For those still curious about tasting cicada ice cream, Sparky's will be making a second batch this weekend. Employees predict that it should be ready for the public Saturday night or Sunday.


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Lexus Launching its Second Design Award
Lexus’ Design Award reached its second edition this year, aiming to attract more than 1,300 submissions from more than 70 countries with the new theme - Curiosity.
This year’s theme reflects the importance Lexus places on both the quality and the impact of its designs. Adding an element of curiosity to the creative process can result in more engaging and exciting products for customers.
A jury of six experts will select 12 winners, that will get the chance to expose their works in a public display at the 2014 Milan Design Week next April. Two overall winners will be given 5 million yen (£33,500) to develop their designs into prototypes.
Applications can be made here and the closing date for entries is October 15th.


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Putting Alabama back together again
Area reconstruction mired in red tape and waiting for many
- Nicole Bradford, Contributor
(Page 3 of 4)
“When they don’t rebuild, there’s jobs lost there,” he said.
However, Little said the disaster boosted construction, especially in Birmingham.
“Construction is a big driver of the economy here, and was struggling, but the fact is the tornadoes have created some temporary relief for jobs there – I’m not sure about the long-term, though.”
UA’s study predicts cleanup, assistance and rebuilding will pump $2.6 billion into the state economy in 2011, with the state spending about $80 million to $100 million for cleanup. Funds will mainly come from federal sources and insurance claim payments.
Little expects his company to continue sorting through claims issues for some time.
“It’s a case-by-case situation,” he said. “We’ve seen everything from $50,000 on a convenience store to over $10 million for building losses.”
And just when the aftermath seemed complicated enough, legal issues cropped up.
Richard Smith, partner with Birmingham-based law firm Christian & Small LLP, said the upswing in claims for damage and business interruption likely will lead to a substantial number of contract and bad faith claims against various insurance companies and brokers.
“We are seeing a number of insureds asking for advice on how to prepare their proofs of loss for those claims, as many of them have never had total losses of buildings and business operations,” Smith said.
According to Alabama Forever’s Sokol, it remains to be seen how long it will take before substantial rebuilding can begin.
“We’re fighting to do that, but to say it would take two or three years – who knows?” he said
Nicole Bradford is a freelance writer. To reach her, contact firstname.lastname@example.org.
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We highlight three domestic Chinese brands utilising technology, nostalgia, and humour to their advantage.
TOP OF THE CHARTS: China is expected to overtake the US to become the world's largest market for ad-funded video-on-demand for the first time in 2018.
Marketing operations may not be the most exciting part of the industry, but are vital to keep pace with customer expectations, says Steven Li, chief marketing officer of Yum China Holdings ahead of Campaign's Digital360 festival in Shanghai
Going back to basics, moving from transaction to experience, and forming tribe-like communities are some pertinent marketing hacks, according to speakers at last week's MarketingPulse.
Since the end of May, the retargeting-focused tech company has pivoted towards its 'export' business.
Photos from Rise 2016's Marketing Track, held on 1 June at the Hong Kong Convention & Exhibition Centre
"There was no collaboration in my first week", chuckled Publicis Hong Kong CEO Tom Kao in our exclusive interview, sharing his plans for the unification of the group's 13 sub-agencies.
Recently appointed Jeremy Lo explains how Amnet is enticing local advertisers from direct buys into private marketplaces (PMP) and programmatic guaranteed (PG) deals.
Digital Marketing Association to focus on measurement standards, training.
The Hong Kong Management Association (HKMA) has established the Digital Marketing Community (DMC).
While every market has its own set of challenges related to programmatic trading, the biggest issue in China is the protracted conflict of interest between local ad tech companies.
Key points from onstage and off at yesterday's startup-oriented Rise 2016 conference in Hong Kong.
SHANGHAI - Dentsu Aegis Network (DAN) has acquired China-based Darwin Marketing (达闻营销) Limited and integrated the agency with its digital performance subsidiary iProspect (安布思沛).
Constantly evolving tech platforms and a practice of hitting digital campaign targets with false metrics have made online marketing in China a hairy business. Practices that have evolved in other markets to prevent ad fraud are often circumnavigated in this market.
A culture of ‘being obedient to your boss’, fear and complacency are fundamental barriers, according to a new report from the HKDMA and PwC.
HONG KONG - Howell Wong (黃灝良) has left JWT to join Moët Hennessy as its regional digital marketing head.
BEIJING - WE Group has launched a fourth firm in China, WE Tech, as an independent company. Its purview is to serve clients beyond the parent company's roster and focus on the development of mobile, social and e-commerce applications and software.
SHANGHAI - China's marketers are demanding more integration capabilities from their agency partners, according to the sixth wave of R3 and SCOPEN’s biennial Agency Scope study.
HONG KONG - IPG Mediabrands has appointed James Tagg as the director of performance marketing, overseeing digital and mobile initiatives for the agency group in Hong Kong.
SHANGHAI - Visionaries at yesterday's Digital360China conference once again demonstrated how the digital world demands that marketing practitioners not only be digitally savvy but also effectively adopt and adapt.


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Earlier this year, the short seller Hindenburg Research accused an Indian conglomerate of shady business practices and caused its stock to plunge. On Thursday, Hindenburg was giving the same treatment to Jack Dorsey, the former CEO of Twitter who now runs the mobile payment company Block. Hindenburg says Block, formerly known as Square, has falsely inflated its user numbers with "fake and duplicate accounts," reports the Wall Street Journal. It also accused Block of taking advantage of many of its "unbanked" customers with "predatory loans and fees."
"The 'magic' behind Block's business has not been disruptive innovation, but rather the company's willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics," reads the Hindenburg report, described as a "bombshell" by Forbes. "As Block's stock soared on the back of its facilitation of fraud, co-founders Jack Dorsey and James McKelvey collectively sold over $1 billion of stock during the pandemic," Hindenburg asserts.
Shares of Block fell 19% Thursday after the report came out, per CNBC. That means a profit for Hindenburg, which announced it had taken a short position against the company's stock as a result of its two-year investigation. Neither Dorsey nor McKelvey has commented on the allegations. Hindenburg says it spoke with former Block employees who said internal concerns and those of users were suppressed as "criminal activity and fraud ran rampant on its platform." (More Jack Dorsey stories.)


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Maruti Suzuki Swift, S-Presso, Ignis & Other Small Cars To Get CNG Option
Currently, six models in the Maruti Suzuki portfolio come with a factory-fitted CNG kit. These are -- Alto, Alto K10, WagonR, Celerio, Dzire, and Ertiga. We expect the carmaker to extend the CNG option on cars like the Baleno, Swift, Ignis and the upcoming S-Presso.
It remains to be seen if the carmaker will introduce CNG fuel option in cars like the S-Cross, Ciaz and XL6 or not. Maruti Suzuki has no plans to offer a BS6 diesel engine on any of its cars at the moment. For models like Vitara Brezza and S-Cross, which are currently available with a diesel engine only, the carmaker will offer a petrol engine going forward.
Offering the CNG option on cars like the Swift, which can still be had with a BS4 diesel engine, makes complete sense as it can be seen as an alternative to the diesel engine. CNG is clean to run and cost efficient as well.
What may hurt Maruti Suzuki in the long run is the availability of CNG. At present, CNG as an automotive fuel is prevalent in Delhi-NCR, parts of Gujarat and Mumbai only. While the government has announced its plans of granting license to 10,000 CNG stations across the country, it remains to be seen how quickly can the infrastructure develop.


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Popularity of Mobile Platforms Coming at the Expense of Consoles
The Game Developers Conference took place in San Francisco at the end of March. The conference is the world’s largest professional game industry event, with big names such as Facebook, Microsoft and Sony all involved. It bills itself as the primary forum for those involved in the development of interactive games to exchange ideas and shape the future of the industry. The five-day event underlined my belief that this is a time of transition for the video game industry.
After last year’s launch of Nintendo’s Wii U, the impending arrivals of Sony’s PlayStation 4 and the Xbox 720 from Microsoft mean the next generation of gaming consoles are almost here. But anticipation of a new console today is nowhere near what it was several years ago. Most attendees at the conference were “indies”: small-scale or individual developers focussed on innovation and relying on digital distribution. For me, their presence at the conference is a sign that interest in developing for consoles is in decline. The chart below, which shows which platforms developers at the show intend to work on next, seems to bear this out.
The high number of indie developers can partly be explained by the low barriers to entry for the platforms they’re targeting, especially smartphones and tablets. Compared with the restrictions imposed on console game developers, indies are effectively given free rein when creating games for mobile devices. The sheer scale and reach of Android and iOS have become big draws, creating a “virtuous circle” in which the size of the opportunity attracts developers and the huge number of games attracts even more users to a platform.
Additionally, the low entry barriers and huge audience have made mobile something of a testing ground for new games: if something works on mobile, then it’s probably worth further investment in developing for a console. The most successful games will appear on consoles, but as the average gamer spends more time on their phone developers will concentrate their efforts in this area.
Some of the sessions at this year’s Game Developers Conference further illustrated the changes underway in the industry. They ranged from summits about free-to-play games, cloud technology for mobile and social games, as well as panels discussing monetary strategies for mobile gaming.
Microsoft has still to disclose a date for its new Xbox console. It gave a presentation on how to create games for Windows smartphones and also revealed new and improved second-screen experiences for Xbox SmartGlass, its companion app that connects mobile devices to Xbox 360 consoles.
Nintendo conducted a session outlining easier ways for developers to make apps for the Wii U, the touch-screen controller system that started off the next wave of consoles. The launch of the Wii U in 2012, however, failed to generate the same buzz as its predecessor. In my view, this is another sign of the transition to mobile platforms by developers and gamers.
My impression of this year’s Game Developers Conference is supported by the findings of our own research. App VU Global reveals that games are the most downloaded category of applications on smartphones and tablets. We can also tell from the operational performance of publishing giant EA, which is currently struggling in the packaged goods sector (that is, games delivered on physical media) and increasing its focus in the digital space in response.
This isn’t to say that I think consoles are dead, or will be any time soon. As manufacturers integrate features like connected home functions and improve social networking capabilities, these features will become a bigger part of the justification for buying a console. And there’ll be keen gamers anticipating the next FIFA or Call of Duty title on a PlayStation or Xbox for some time. However, consoles are no longer the force in the gaming world they once were, thanks to the importance of smartphones in people’s lives today.
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Four Ojai residences, each with a distinctive architectural style, will be open to the public during the 23rd annual Ojai Holiday Home Tour and Marketplace next weekend.
Included will be the contemporary home of architect Scott Johnson, known as the Wall House; the recently renovated 1925 French Normandy-style residence, named Foothill Farm; Tuscan Ranch, a Tuscan-inspired home with stunning tile work and hand-painted murals; and El Sombrero, the modern rustic “shack” property of architect Ross Anderson.
Also taking place the same weekend is the Holiday Marketplace in its new location at Libbey Park across from the Ojai Downtown Arcade. Featured will be a collection of curated lifestyle and fashion items from vendors.
Both events benefit the Ojai Music Festival and its BRAVO education and community program, which offers free music workshops to Ojai Valley public schools and the community, according to Gina Gutierrez, CEO of the Ojai Music Festival.
“The Wall House, an award-winning home designed by Mr. Johnson for his own family, is a contemporary masterpiece with a spacious open interior featuring a raised platform for the concert grand piano — the daughter is an opera singer and her husband is a symphony conductor — a sunken conversation area around the fireplace,” said Ms. Gutierrez.
“An outdoor kitchen includes a fireplace, wood-burning grill and a pizza oven. The 12-acre meadow property, bounded by streams on both sides, borders on Los Padres National Forest. It features apricot and peach orchards, as well as organic produce, herb and flower gardens.”
Foothill Farm was purchased in 2015 by a couple from Los Angeles who were fastidious about maintaining the impeccable craftsmanship of the well-built historic home, keeping the original design elements so it is impossible to discern old lines and finishes from new, according to Ms. Gutierrez.
“The owners have a unique knack for integrating eclectic art from pre-Colombian to modern, from folk art to famous masters, having it look perfectly suited to the grand old home,” she said.
Gorgeous frescoes, painted by the original owner, adorn the walls, and some ceilings, in nearly every room at Tuscan Ranch, which includes a small family vineyard of merlot and cabernet grapes on the lush two-acre estate.
“The stalls in the former horse stables have been paved and converted into a garage, man cave, wine cellar and delightful entertaining area, complete with a chandelier,” said Ms. Gutierrez.
El Sombero, which began life as a simple 1,150-square-foot wooden cottage with tiny rooms and low ceilings, was transformed by architect Ross Anderson as his own home that he shares with his wife, Patricia, and their Labradors, Belle and Rufus.
“This unpresumptuous shack is affectionately known as El Sombrero by the owners because of the way the animated and bent roof form creates shade and shelter like a large-brimmed hat,” said Ms. Gutierrez. “The addition of a deep wrap-around veranda offers shelter for the entry and also serves to extend the living area with an outdoor room.”
Shades of grays on the board-and-batten siding and pewter metal roof blend with cedar decking outside, and flat neutral colors inside fit in comfortably with the valley’s rustic landscape.
“Tickets for the Ojai Holiday Home Tour, a treasured annual tradition presented by the Ojai Festival Women’s Committee, are $40 in advance and $45 at the event. Admission to the marketplace is free,” said Ms. Gutierrez. “No cameras are allowed on the tour nor are children under 12 years old.”
IF YOU GO
The 23rd annual Ojai Holiday Home Tour, which is self-guided, takes place from 10 a.m. to 4 p.m. Nov. 16 and 17 and Marketplace hours are 10 a.m. to 5:30 p.m. Nov. 16 and 10 a.m. to 4:30 p.m. Nov. 17.
A free shuttle at Monica Ros School will be available for the El Sombrero property.
Tickets, which are $40 in advance and $45 at the event, are available by calling 805-646-2053 or online at www.ojaifestival.org. They can also be purchased in Ojai at Attitude Adjustment, Flora Gardens, Rains Department Store and in Ventura at Fox Fine Jewelers.


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Reachy, the torso-shaped humanoid robot that made a splash at last year’s CES, has now been upgraded with new cameras and an x86 processor in place of Raspberry Pi. The brainchild of France’s Pollen Robotics, Reachy has two arms with hands that can lift up to 500g each and an expressive head with two camera eyes.
The new version of Reachy, which is due out this spring, will use an Intel NUC x86 PC as its brains instead of the Raspberry Pi 4 B, which powered the original version. The eye cameras now provide stereoscopic vision with up to a 70-degree horizontal FOV and a 125-degree vertical FOV.
While the Reachy we saw demoed at CES 2020 was running Raspberry Pi OS, the new model runs ROS (Robot Operating System). That means it’s still based on an open-source platform. Other than that, the new Reachy, which will not carry a different name or version number, will look the same, including its striped shirt.
With the enhanced vision and processing, using Reachy for complex tasks should be even easier. In a video call, the company showed us how an employee with a VR headset and controllers could see what the robot sees, move its arms and use its hands to pick up small children’s blocks and drop them into a bin.
You can also program the robot to work independently, using its eye cameras for computer vision that it can then use to do something fairly complex like putting food in a microwave oven. Its microphone and speaker allow it to do speech recognition and to talk back to humans.
The company said it has already sold around 30 of the original Reachy models, with some going to retail spaces and others for organizations to use for their own research and development.
The new models will cost a bit more. While the original Reachy costs around $17,000 with both arms and the head, and less if you just want a single arm or no head, the new model will be slightly less than $20,000 and, with a software package, it will reach nearly $25,000.
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Tuesday, Sprint announced in its quarterly earnings call that it sold 1.4 million iPhones for the July quarters, but lost 2 million subscribers. » Read the rest
In the OS of the iPhone and iPad, a hacker claims to have found code that suggests the nations top 3 carriers are hindering the data speeds for their customers. » Read the rest
The numbers are continuing to roll in for the big carriers and the numbers aren’t looking good, because unlike people, numbers don’t lie.
» Read the rest
A sales representative at a Sprint store denied a man the sale of an iPhone 4 because he claimed that the customer’s fingers were too fat. » Read the rest
While the iPhone 5 has already launched to a lot of fanfare with service support from top tier providers such as AT&T, Verizon and Sprint, there is another lesser known competitor also offering their services to mobile phone users at a cheaper rate, called nTelos. » Read the rest
AT&T, Verizon and Sprint aren’t the only ones sharing the love. Smaller U.S carriers are now getting in on the fun.
» Read the rest
Since the creation of smartphones, data-driven technology has pioneered new ways for everyday users to stay connected. Evolving into tablets and other mobile-enabled devices, the technology market will be forever changed. So the question that begs to be answered is, how will the providers of this data adapt? Let’s take a look into some of the companies that remain side-by-side with the technology era. » Read the rest
Following the iPhone 5′s release yesterday, US carrier Sprint has nearly sold all of its units from their initial batch.
iPhone 5 pre-order shipping times has slipped to 3-4 weeks due to high demand on the Apple online store.
U.S. carriers looking to put the iPhone on their shelves are going to have to pay a handsome amount in subsidies, analysts say.


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Ikea and Pizza Hut have teamed up to create furniture inspired by the tiny white “pizza saver” table that sits in every pizza box. And of course, the tabletop perfectly fits a pizza box.
Each table arrives in a humorous package that resembles a pizza box and, like other products, comes with details on how to assemble the product. IKEA illustrates a step-by-step process on unpacking the different parts, assembling the legs, calling Pizza Hut, receiving the pizza and placing it on the perfectly-sized table.
Earlier this week, the Hong Kong division of IKEA and Pizza Hut teased a menu option centered around the furniture and home furnishing purveyor’s famed Swedish meatballs, the Swedish Meatball Pizza.
Why It’s Hot
The unexpected collaboration is a fun way to generate buzz around a basic white table and cross-promote both brands.
In the Philippines, where almost one third of children under five are malnourished, the Cadbury has created a chocolate bar without milk, the Generosity Bar, and is donating the glass and a half to children in need.
The Generosity Bar launched at a pop-up store in a popular Manila mall and for every candy bar purchased, Cadbury redirects the forgone milk to malnourished children through its partnership with NGO Reach Out Feed Philippines.
So far 200,000 glasses of milk have been donated to Filipino children.
Other chocolate brands might struggle to form a meaningful partnership with a malnutrition charity, but Cadbury found a way to make this initiative feel natural and relevant. Rather than use its packaging and platform to just draw attention to the Philippines’ child malnutrition problem or encouraging consumers to make donations, Cadbury enabled its customers to donate simply by buying the product: a win-win for Cadbury, the children and the consumers.
Why it’s hot:
CSR has become a hot topic in the advertising world, but doing it right isn’t always easy as many times brands sometimes lack the ability to put others first. This is a great example of a brand wholly dedicating itself to a cause and providing an easy way for its customers to participate and give back by doing something they already do, eat chocolate.
Uber has teamed up with PayPal-owned Venmo to let people pay for rides and food via UberEATS with the funds in their Venmo account. According to the companies, more than six million payments mentioned Uber in the last year. The integration will also enable people to easily split the cost of food orders and rides with friends within the Uber app.
“Adding Venmo as a way to pay within Uber and Uber Eats furthers our mission to provide a seamless way to pay for the services that matter most to our customers,” PayPal COO Bill Ready said in a statement.
For Uber, this partnership is a way to further differentiate itself from its U.S. rival Lyft. Though, this is not an exclusive partnership, so Venmo could also team up with Lyft for payments. For Venmo, this is a way for the service to become more ubiquitous as it faces competition from Zelle, a bank-backed mobile payments service that’s on track to outpace Venmo in number of users sometime this year.
Within the Uber app, once you select Venmo as a payment option, you get directed to the Venmo app.
The integration will officially go live in “the coming weeks.”
Amongst the new partnerships announced at CES is one between Under Armour and IBM, which promises to launch “Cognitive Coaching Powered by IBM Watson,” which both companies call the “world’s first complete health and fitness insights app.”
How does it plan to stand out against the typical fitness app consisting of wearable device & smartphone sensor? Using Watson’s smarts. The program will integrate data signals from wearable fitness gear with Under Armour’s Connected Fitness community of users, research studies, and institutions with data from IBM Watson. To help individuals achieve their fitness goals as accurately as possible, the Watson database will compare each user’s fitness data to a cohort of people with similar characteristics and goals– a sort of crowdsourcing in which individuals can see real-time results of others they share commonalities with.
Two other projects in the works: using IBM Watson’s visual recognition capabilities to identify foods and their nutritional value and integrating weather- related and environmental factors as they relate to your health and fitness (powerful, as IBM purchased much of Weather.com’s digital assets).
Why it’s hot: the Under Armour- IBM Watson partnership is one of the first brand integrations with the IBM Watson system and the first fitness integration of its kind to use consumer data in a way that allows people to compare themselves to others in real time.


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Telecommunications services firm, A3&O, with operations in Nigeria, the Middle East, a few African countries and the UK, is planning to expand across Africa, to provide its products and services to more organizations, governments and individuals – this year & beyond.
This comes as the organization celebrates ten years, and looks to the future, in an emerging market. The CEO, Sameh Abdelaziz, made this known at the anniversary ceremony in Lagos. He said, “With offices in the United Kingdom, Ghana, Nigeria, Zambia and South Africa, A3&O has partnered with top telecommunication equipment manufacturers around the globe delivering products, services and solutions over the last decade.”
“A3&O, today, has several ongoing projects around Africa in Nigeria, Ghana, South Africa, Zambia and many other countries. We are one of the very few companies of Nigerian origin that exhibits in international events like the GSM World Congress in Barcelona and many other international events.”
He continued, “Early this year, the Federal Government of Nigeria awarded A3&O the signalling contract for Nigerian Railways. These are some the strides we are making. Our vision is to grow from an African company to a truly multinational with presence across the African and European continents. Our plan is to have presence in each country in Africa and Europe. We have competent and well-trained Nigerians, who are helping to push our brand due to their competency and we are building our reputation based on quality and expertise.”


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Gear Up For These Upcoming IPOs in December 2021
2021 is drawing close towards the end with just three weeks to go for the new year. And as we look back at this year, one word that has dominated it is IPO.
Besides multiple IPOs in the pipeline for 2022, there are a few lined up for the remaining part of December 2021 as well. Curious to explore? Read on to know the upcoming IPOs lined up for this month.
1.RateGain Travel Technologies
RateGain Travel Technologies is India’s largest distribution technology and software as a service (SaaS) company in the hospitality and travel industry. Its’ IPO is lined up from tomorrow, i.e. 7th-9th December 2021, with the price band of Rs 530-550 per share and lot size for retail investors being Rs 14,850 for 1 lot of 27 shares, and a maximum of Rs 1,93,050 for 13 lots. RateGain aims to fetch Rs 1,335.73 crore at the upper price band.
Proceeds from the fresh issue will be utilized to repay debts availed by subsidiary RateGain the UK; payment of deferred consideration for the acquisition of DHISCO; and strategic investments, acquisitions, and inorganic growth. RateGain will also use the proceeds to invest in technology innovation, artificial intelligence and other organic growth initiatives; purchase of certain capital equipment for data centres; and general corporate purposes.
RateGain’s IPO share allotment will be finalized by December 14, 2021, and is expected to debut on the BSE and NSE on December 17th.
2. Shriram Properties
This south India-based residential real estate development company is also amongst the lined up IPOs of December 2021, with its IPO launching from December 8-10th. The price band is Rs 113-118 per share, aimed to raise a total of Rs 600 crore. The lot size for retail investors is Rs 14,750 for 1 lot of 125 shares.
Shriram properties aims to use the raised funds to repay debt and also for general corporate purposes. The IPO share allotment is expected to be finalized by December 15, 2021, and is expected to debut on the BSE and NSE around December 20th.
3. CE Info Systems (MapmyIndia)
Another IPO you may keenly look forward to is CE Info Systems, popularly known for its brand MapmyIndia. CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service, software as a service and platform as a service to more than 2,000 enterprise customers like PhonePe, Flipkart, HDFC Bank, Airtel, Hyundai, and government institutions such as the Goods and Service Tax Network.
The IPO is scheduled from December 9-13th, and is expected to disclose its price band and lot size in the next few days.
4. Metro Brands
Metro brands is one of the largest Indian footwear speciality retailers. Backed by ace investor Rakesh Jhunjhunwala, Metro Brands’IPO is scheduled from December 10-14th, and the price band and lot size will be announced in a few days. Metro Brands aims to utilize the net proceeds from the fresh issue to open new stores under brands such as Metro, Mochi, Walkway and Crocs, and the rest will be used for general corporate purposes. Also, Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala is the third-largest shareholder in the company, owning 14.73 percent stake, while the promoter and promoter group owned 83.99 percent stake.
Besides these, other companies like Mobikwik, GoAir, ESAF Small FInance Bank etc are also lining up their IPOs for a December launch. But information regarding that remains to be seen in the upcoming days.
For more of such interesting financial content, click here.
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Made to Order - Austin Business Journal article on Cypress Industries
Made to Order Cypress focuses on meeting rising customer demands in competitive manufacturing industry
Contributing writer Tommy Perkins
Published: August 15, 2005
Tom Lonsdale is holding a piece of rubber with six magnets embedded in it.
It's a new kind of oil filter and, in Lonsdale's eyes, it could be the next big production run for Cypress Industries Ltd.
That's from a manufacturing CEO whose company counts as customers blue-chip giants such as Solectron Corp., Dell Inc., Cisco Systems Inc. and Sun Microsystems Inc.
Being an entrepreneur himself, Lonsdale has a soft spot in his heart for inventors.
"If you don't take care of them on the front end, they won't take care of you on the back end," says Lonsdale, alluding to the soaring success of some inventors' products.
New products from inventors account for 20 percent of Cypress' business, Lonsdale says. Inventors call on the company for any combination of design, packaging and shipping, licensing and distribution.
Meanwhile, the demands of Cypress' larger customers can be every bit as complex.
Batch sizes number in the thousands, the proprietary components often must be built in Austin and the non-proprietary pieces must be built in Asia.
Cypress also may have to hold its customers' inventory for as long as four months.
"Before 2000, you could get orders for six months' worth of products," Lonsdale says. "Since the downturn, people want one to two months' orders. They'd rather pay the additional freight than risk the inventory costs."
Lonsdale founded Cypress in 2001 with partners , now director of sales, and Brandon Freeman, Cypress' chairman.
The trio bootstrapped the venture until last spring, when the company accepted its first round of outside funding in the form of a line of credit from Silicon Valley Bank. Revenue has leapt 400 percent since 2003, and Cypress needed the funding to accommodate its rapid growth and, in particular, to plug holes in accounts receivables.
"It was tough initially," Lonsdale says of going a year without pay. "It was good having a supportive wife who works. [Bootstrapping] may cause you some more pain financially, but I'd rather spend my time answering to customers than to investors."
Nationwide, both large and small firms expect their sales will rise by close to 4.9 percent over the next year, according to the National Association of Manufacturers. That's a decline from an expectation of 6 percent growth last quarter and the mildest forecast since the third quarter of 2003.
For smaller firms, sales also are expected to increase by 4.9 percent over the coming 12 months. This is an improvement from the 4.4 percent anticipated in the third quarter but a little lower than the 5.1 percent expectation for the fourth quarter.
Still, NAM projects the manufacturing recovery to remain largely on track for 2005.
Cypress' growth came from several areas, most notably from its electronics business, the launch of its industrial division and its new plastics and tooling manufacturing capabilities. Along the way, the company signed up hundreds of new customers.
The company responded to the higher demand by buying space adjacent to its original Pond Springs Road headquarters, giving it a total of 14,500 square feet of offices. About a quarter of that space is dedicated to sales and administration, with the bulk going toward manufacturing space.
Cypress devotes its Austin manufacturing operations to low- to moderate-volume prototype and production runs before transitioning products to its higher-volume operations in China. The company employs 18 full-time people in Austin and plans to hire an additional 10 people -- five in Austin, and five in its China sales office.
With such a wide array of runs, materials and customer sectors, there's still more complexity when it comes to dividing up the company's sales and marketing efforts.
"Each product line has its own sales team," Lonsdale says. "But we want customers to have one consistent point of contact, which allows us to cross-train our sales force."
It's axiomatic that happy employees yield happy customers and, cross-training and advancement opportunities aside, the walls of Cypress' Austin office display numerous photos of employee events.
For example, "Ranch Day" at an employee's ranch included roping, skeet shooting and other activities. In China and Taiwan, basketball tournaments are the norm among Cypress' employees.
Sol Marketing Concepts


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Save the Sole of the Ocean
Endurance athletes sure do put the “Active” in “Activist.” Whether it’s fundraising for a charity marathon or ride, or raising awareness for issues they are passionate about – endurance athletes commit their heart and soul to the cause… or should we say “sole.”
Last week Adidas' revealed their new concept shoe that utilizes recycled plastic from the world’s oceans and 3D prints usable shoe soles. This technology, although still experimental, could have a profound impact on the pollution of mother nature’s seaways.
A few months ago, Adidas announced a partnership with Parley for the Oceans, an environmental organization that aims to end pollution of the world’s oceans, to create a new concept of eco-friendly sneakers, made from from plastic waste found in oceans, such as fishing nets and recycled objects. And now the German footwear manufacturer also created a 3D-printed midsole, aiming to set new, more sustainable standards in the…


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Tell us which cars have been your Christmas crackers and which have been your stuffed turkeys.
New Suzuki city car will be priced from £7,999 when it goes on sale in February
We asked Auto Express readers which fantasy car they most wanted to see built. Here are the ten Most Wanted models for 2014
FCA Group has made the decision to sell supercar maker, Ferrari, as part of long-term profit plan
We celebrate the 25th anniversary of the Mazda MX-5 with a package of great features on the loveable roadster
Win a Snooper DVR-1HD Mini Vehicle Driver Recorder dash-cam worth £149.99
Win a year’s breakdown cover – worth £175 - with GEM Motoring Assist
The UK doesn't just produce world-beating cars. We visited the New Holland tractors factory, a leader in global tractor production
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Go get it, Pfizer.
Bad dog, Fauci.
The language is not a mean tweet from Dr.Anthony Fauci, the White House’s chief medical adviser. It is aimed at dogs in the nation influenced by the pandemic in 2021.
For those who acquired pets last year, an annual report by animal care company Rover.com found that some of the names were the ones that would make COVID-19 hard to forget.
Fauci was one of the most popular pet names of 2021 – up 270% from 2020. The pet name, Covid, has also increased by 35% and dogs named Zoom have increased 443% to commemorate a work from home lifestyle. Dogs named Zoom deserve extra kudos given that bosses may not know if a worker is frustrated with their computer or dog on any given day. Siri and Google were also names of pets inspired by the technology on the rise.
Where does your puppy rank? :“Right to the doghouse”: study reveals which dog breeds behave the best and the worst
Additionally, the dogs were first named Dr Fauci and Pfizer in 2021 after the coronavirus vaccine made headlines across the country for the better half of the year.
“The names we choose for our pets often reflect the things that matter most to us, from our passions and interests to what’s going on in the world around us,” said a statement from Rover.com. “With soaring pet adoption rates and the extra time spent at home over the past year, many dogs and cats have been given new names in 2021 that highlight the personalities of the pet and the pet’s parent. “
What other animal names were a hit in 2021 for Rover’s ninth annual report? Britney Spears, Disney +, and even Cryptocurrency (Dogecoin and Bitcoin are legitimate animal names) all inspired pop cultural names for the new owners.
Grogu, Baby Yoda’s real name from Disney’s “The Mandalorian,” was the hottest dog name in the country. Someone even named their dog Lady Whistledown to commemorate the hit Netflix show, “Bridgerton”.
“Each year our annual Best Pets Report showcases the cultural moments that made an impact and obviously the pandemic was a big factor. From sports to the TV shows we over-watch, the names of our pets have been shaped by a truly unique year, ”said Kate Jaffe, Trends Expert at Rover. “As we continued to work from home, our bond with our pets grew. even deeper.
According to Rover’s Annual List, which surveyed 1,000 pet parents in the United States and reviewed millions of pet names submitted by owners, 61% of pet parents gave their pet a human name.
“The naming process is really a reflection of individuality, as a pet’s personality is the most popular inspiration for pet parents when choosing a name.
The most popular dog names of 2021 are:
- Female dogs: Bella, Luna, Lucy, Daisy, Zoe, Lily, Lola, Bailey, Stella and Molly.
- Male dogs: Max, Charlie, Milo, Buddy, Rocky, Bear, Leo, Duke, Teddy and Tucker
The most popular cat names of 2021 are:
- Female cats: Luna, Bella, Lily, Lucy, Nala, Kitty, Chloe, Stella, Zoe and Lola
- male cats: Oliver, Léo, Milo, Charlie, Max, Simba, Jack, Loki, Ollie, Jasper
A full list can be found here.


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Marbella Design 2020, one of the most important design exhibitions in southern Spain, opened its doors yesterday.
Over 20 interior designers and around 200 leading design brands are represented at the exhibition, which is now in its third year at the Palacio de Congresos.
At the official opening Alejandro Zaia, CEO of Marbella Design, thanked everyone involved for making a challenging event possible in exceptional circumstances. The theme of this year’s exhibition, inspired by the Marbella of the 60s, “is a tribute to optimism in circumstances as difficult as those that we are going through now” he said.
Marbella Design 2020 is open to the public and runs until October 3. For more information www.marbelladesignfair.com
Photos: Gonzalo Botet


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A Manchester tax specialist only founded 18 months ago has already claimed back £15m in rebates for businesses.
Recoup Capital, which works on R&D tax rebates with UK firms in every sector said its average claim is £123,000 - 146% over the £50,000 national average.
Recoup, founded just weeks before the pandemic hit, has recently doubled headcount to eight and is based in Manchester city centre.
The Manchester-based specialist works with sectors including property and the built environment, hospitality, tech and farming.
The firm's MD, Anthony Doran, said thousands of businesses are missing out on millions in R&D credits.
He said: “Our target is to help UK businesses claim £75m by 2022. While ambitious, it is realistic.
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“Our clients give great feedback on how they have benefitted from claims, which include laying a foundation for growth, cash flow improvement, hiring and generally thriving rather than surviving.”
From September, following the launch of a new batch of new products, the company is preparing to grow its workforce further.
The firms Recoup has worked with include El Gato Negro, Property Alliance Group, PP O'Connor and Freedom Brewery.
Introduced in April 2000 by HMRC, the R&D tax credit incentive rewards UK limited companies for investing in innovative products, services and processes - up to 33p for every £1 invested.
Mr Doran said businesses are too often told they don’t qualify.
He added: “Businesses can also feel they don’t have enough knowledge of the tax system, meaning they miss out on significant cash boosts which can be used to better their business.
“We know that thousands of UK businesses are leaving millions on the table by not claiming back rebates and we want to change this direction of travel for the good of both individual businesses and the wider economy.”


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Infamous: Second Son Announced
More horsepower, more superpowers.
From its Future of PlayStation event in New York today, Sony confirmed that a new entry in the Infamous series is headed to PlayStation 4, called Infamous: Second Son.
Second Son is once again developed by Sucker Punch and focuses on a society with walled cities and security cameras. It revolves around the idea that "our security comes at a high price -- our freedom." It focuses on multiple people with superpowers.


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MPs approve Kenya-U.K trade pact
The National Assembly has approved the economic partnership between Kenya and the United Kingdom.
This move will effectively stave off the imposition of import duties on Kenya’s exports to the U.K and assure Kenyan exports of duty-free, quota-free access into the U.K.
Trade Committee Chairman Adan Haji allayed fears that the Economic Partnership Agreement (EPA) between the two nations will open floodgates for the dumping of agricultural goods.
“The export potential in the UK for Kenya products was valued at about Sh20 trillion in 2019. If Kenya were to target this potential will raise the market share in the UK by five per cent. It will translate to exports worth Sh1 trillion, an ambition that Kenya is pursuing,” Adan said.
Kenyan vegetable exports command a 43 percent share of the UK market, as well as cut flowers at nine percent.
The multi-billion shillings trade agreement between the two was signed on December 8, last year.
According to Trade and Industrialisation Cabinet Secretary Betty Mania, Kenya stands to reap market opportunities estimated at Ksh.20 trillion shillings, which is equivalent to 0 point 2 percent of the U.K’s total market size.
Under the deal, Kenya aims to push the volume of its exports to the U.K to Ksh.1.1 trillion by 2025, thereby expanding its exports by 28 times more than the current average of Ksh.39 billion recorded between 2015 and 2019.
The committee further considered products designated as sensitive under the EAC Common External Tariff.
Animal Products, both fresh and processed – including meat, hams, sheep and goat products, horses, swine/pork, are expected to attract duty under the deal.
Importation of fisheries products of all kinds – such as tuna, dairy products, milk and milk products; poultry and poultry products – such as birds and eggs, will attract duty.
An avalanche of agriculture products will also not be exempted in the UK-Kenya agreement whether in raw and processed form.
These will include fresh and chilled potatoes, tomatoes, onions, garlic, vegetables of all kinds – cabbage, sprouts, lettuce, cucumbers, mushrooms peas, beans, and so on.
Fresh and chilled fruits – cashew nuts, bananas, pineapples avocados, mangoes, pawpaw, watermelons, and apples will not be exempt from duty.
At the moment, however, Kenya’s top exports to the U.K include tea, coffee, cut flowers, vegetables and fruits.
In 2020, Kenya exported goods worth Ksh.49.5 billion to the U.K and imported goods worth Ksh.29.3 billion from the U.K.
Kenya will also be expected to start phasing out duty and quota barriers on a set number of U.K products, 12 years after the EPA comes into force.


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Microsoft has added several older CPUs to its list of supported processors for Windows 11.
The new operating system is expected to officially launch in October and is currently available in preview builds for Windows Insiders in the Dev and Beta channels.
Following feedback from Windows Insiders over the last few months, Microsoft began testing whether there were devices running on Intel’s 7th generation and AMD Zen 1 processors that met its new established principles for system requirements.
As a result, it has added a few new CPUs to the compatible processor list.
“We did identify a set of PC models that meet the principles while running on Intel 7th Gen processors that we did not originally include in our minimum system requirements.”
Based on those findings, it expanded the list of compatible 64-bit processors to include the following:
- Intel Core X-series, Xeon W-series
- Intel Core 7820HQ – Only select devices that shipped with modern drivers based on Declarative, Componentized, Hardware Support Apps (DCH) design principles, including Surface Studio 2.
There is bad news for owners of first-generation AMD Zen processors.
Microsoft said after carefully analysing these processors in partnership with AMD, it concluded there were no additions it could make to the supported processor list.
This means that AMD Ryzen 1000 series CPUs, released in March 2017, will not support Windows 11.
Fortunately, Windows 10 support will still be available until 2025, so these users will have plenty of time to upgrade hardware before Microsoft ends support for their OS.
The overall minimum system requirements for Windows 11 will remain the same.
Microsoft said the compatible 64-bit processors selected, 4GB RAM, 64GB storage, UEFI secure boot, graphics requirements, and TPM 2.0 were the right minimum system requirements to deliver on the principles it established to best support users.
The company also released a new preview version of the PC Health Check app, which automatically detects whether a user’s system meets the Windows 11 minimum requirements.
The previous PC Health Check app, which was released shortly after Microsoft unveiled Windows 11, would only state whether a system was supported or not.
It provided no further information as to the specific components which were not up to scratch.
This meant many users who had supported systems that merely had the TPM 2.0 setting turned off in their BIOS received a “not compatible” message.
Microsoft said the updated version expands the eligibility check functionality with more complete and improved messaging on eligibility and links to relevant support articles that include potential remediation steps.
The app will be re-released for general availability in the coming weeks, while Windows Insiders can download it now on this page.
The screenshot below shows an example of the results produced by the new PC Health Check app.


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Areas of Focus
Jaymie Forrest, managing director of the Georgia Tech Supply Chain & Logistics Institute and co-founder of the Integrated Food Chain Research Center (IFC), authored the Cool Insights column for the October edition of Food Logistics, titled “Processing Produce at the Speed of Light.” For the column, Forrest discusses how ScanTech Sciences, a company started in Georgia Tech’s Advanced Technology Development Center and a participating technology for the IFC, has spent more than a decade working on a new technology to treat produce for pathogens. Working closely with the USDA, ScanTech is planning to open a facility in Texas which will enable this new technology, which significantly improves bottom line profitability and is incredibly safe, to be used on fruits and vegetables that are crossing the border in both directions.
For the past three years, faculty, staff, and partners of the Georgia Tech Supply Chain & Logistics Institute’s IFC have contributed their thoughts on various aspects of the food chain to Food Logistics Magazine under a column called Cool Insights.
Previous installments of the Cool Insights column:
Food Logistics, September 2012: Nick Pacitti, co-founder of Sterling Solutions LLC, authored the Cool Insights column titled “The New Dilemma for Fresh Programs.”
Food Logistics, July/August 2012: Nick Pacitti, co-founder of Sterling Solutions LLC, authored the Cool Insights column titled “Fresh Needs Fast—Rail is Up to the Challenge.”


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Want to join the conversation?
$TJX said 2Q17 pre-tax profit margin is planned in the 10.7-10.9% range versus 12% last year. The company is anticipating 2Q17 gross profit margin to be in the range of 28.7-28.8% versus 29.1% last year. $TJX expects SG&A as a percent of sales to be in the range of 17.8-17.9% range versus 16.9% last year.
$NFLX a monster move, going up. Expect making some money on Monday.
$AMD down more than 6% even after posting above consensus third quarter results.
$MCD stock rose more than 2% after it posted better than expected 3Q16 results, driven by global same-store sales growth. Meanwhile, earnings and revenue were lower than last year, hurt by refranchising efforts.


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This will be the first time since March, 2011's core meltdowns that rice intended for public sale will be planted in fields that are possibly still contaminated with radioactive cesium and other toxic materials.
While the Japanese public is vehemently opposed to GMO, do they really want to eat radioactive rice? The government of Japan seems not to care.
Despite the urging of the people of Japan, the government continues to allow farming in radioactive areas while also permitting large quantities of imported GM canola from Canada. There is also now GM canola growing wild around Japanese ports and roads to major food oil companies.
Genetically modified canola such as Monsanto's RoundUp Ready canola has been found growing around these ports when being tested for GM contamination. Japan was also recently duped into accepting Monsanto's GM soybeans. Does this country really need any more toxic food?


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UPDATE: Apple has approved the Amber Alert app described below, two days after the developer’s open letter to Steve Jobs drew publicity to the cause. You can download it here.
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Software developers frustrated with Apple’s (AAPL) sluggish and seemingly arbitrary procedures for reviewing iPhone applications for inclusion in the App Store have been struggling to find a way to get their complaints heard.
It’s an open letter to Steve Jobs pleading with Apple’s CEO to speed up approval of the Amber Alert iPhone app that’s been sitting in the queue since February 14. The application uses GPS location information to funnel sightings of missing children to the nearest law enforcement agency as quickly as possible.
Zdziarski makes his case better than I could, so I’ll just reprint his letter below.
Apple has not yet responded to our request for comment.
Thanks to iPhone World for bringing the letter to our attention.


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Marseille - Hapag-Lloyd published new announcement about the strike condition in France. The shipping company reports that the situation at French ports has not improved. “We are still facing sporadic strikes in Le Havre and Fos sur Mer generating terminal and vessel congestion,” Hapag-Lloyd says.
According to Hapag-Lloyd’s announcement, the work stoppages at French ports will be as follows:
FOS: 72 hours – from January 8 – 20.00hrs, until January 11 – 20.00hrs.
“This situation is creating vessel omissions and consequently a roll over situation for all export cargo,” Hapag-Lloyd adds. “Import cargoes are also heavily affected by vessel omissions and these has been discharged in alternative ports.”


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Recreational Vehicles: giant, gas-guzzling monsters, or eco-friendly transportation? Our friend Peter Greenberg recently analyzed a new travel trend: the “green RV.” The term may seem contradictory; after all, can a lumbering, fuel-thirsty behemoth really be labeled “green?” But Greenberg points out that “the RV industry is adjusting to the demands of a more environmentally conscious public.” And those adjustments don’t just include simply trying to improve fuel efficiency (though a sleeker, more aerodynamic design and lighter composites contribute considerably to better gas mileage).
Features of these new, more environmentally-conscious RVs include solar and wind turbines (for powering that gourmet kitchen), and hybrid models that run on both gas and batteries.
Greenberg also points out that many consumers are simply buying smaller vehicles, which reduce environmental impact by using less fuel and creating fewer emissions. Further, he notes that the self-contained nature of an RV reduces travelers’ carbon footprint, since folks are not flying, eating out, or staying in a hotel.
Still, even innovative hybrid models get around 12 miles to the gallon, which doesn’t seem too eco-friendly to me. What are your thoughts?


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Are your front-line employees working two or three jobs to make ends meet? The American Hotel and Lodging Association needs your help to insure that employees in hospitality industries at not forced into part-time status due to the Affordable Care Act. According to AH&LA,...
Marriott International was recently fined $600,000 after the company was found blocking people's Wi-Fi...
Working with hotels for almost two decades now has given me so much insight on what they encounter on a daily basis. From menial to revenue impacting problems, from operational to systems concerns and from controllable and totally out of their hands issues.
What's driving guest loyalty today? Which trends are gaining more and more leverage in the hospitality industry and in hotel marketing? What will help you increase hotel group bookings? For the answers, let's turn to our friends across the pond. From experientialism to...
Travelers often turn to Yelp to check out consumer reviews of hotels before they go on vacation, and now they can book a room directly through its site and app thanks to a partnership with start-up Hipmunk. Yelp made the announcement on its official blog and also said it...
The Supreme Court recently agreed to decide whether the police in Los Angeles may inspect hotel and motel guest registries without permission from a judge. Dozens of cities, including Atlanta, Denver and Seattle, allow such searches,...
UCLA has won a court victory for the conference center and hotel under construction at the center of the Westwood campus. A Superior Court judge has ruled against a lawsuit from critics in a neighborhood organization who alleged that environmental studies for the project...
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J. Charles Holt writes "Electronic Arts has announced that they're going to start releasing themes to popular computer games on online sources such as iTunes." From the article: "Those who doubt the hit potential of video game theme songs probably haven't seen Billboard's Hot Ringtones chart lately, where Koji Kondo has sat right near the top for 55 weeks. Who's Koji Kondo? He composed the theme for 'Super Mario Bros.,' which ranks this week right between the Black Eyed Peas and Bow Wow featuring Ciara."
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It's no secret that the super rich like to have the best of everything: classic cars, private jets, megahomes and megayachts, but the secret places they go to make these purchases will surprise you. We know there are businesses that cater to these wealthy connoisseurs' every need, but you may expect these purveyors of luxury to be in cities where billionaires live and play.
More billionaires live in Moscow, New York, Hong Kong, London and Istanbul than anywhere else in the world, according to Forbes. There are 349 billionaires with a total net worth of more than 1 trillion dollars in those cities alone.
But, if you're looking to buy a megayacht, forget Moscow. Want a million-dollar Ferrari? Don't take the private jet to Hong Kong. While shooting "Secret Lives of the Super Rich," CNBC visited some very unlikely places where the world's wealthiest go to drop boatloads of cash.
You've probably never heard of these eight tiny towns unless you are one of the few people that happen to live there—or you're super rich.
By Jessi Joseph
Posted 11 Sept. 2013
CNBC scores the ultimate VIP access to a world inhabited by only the wealthiest people. "Secret Lives of the Super Rich," this Wednesday Feb. 5 at 9 p.m. ET/PT.
Who visits: Super-rich jet-setters
When the super rich want to customize their private jets, one of the designers they turn to is Eric Roth at International Jet Interiors in Ronkonkoma, N.Y. Some of the wealthiest celebrities and CEOs in the country have been there in their private jets.
"We had one client who was a producer and he said, 'I'm going to go from coast to coast, and what I want to do is be able to edit my films on the fly,' " Roth said. "And that's exactly what we did."
The movie theater in the sky cost about $1 million, but that's really no big deal considering the tens of millions spent just to buy the plane.
Who visits: Super-rich car collectors
For most of us, shopping for a new car means heading down to the local dealership, but that obviously won't work for the super rich.
Some of the most expensive cars on the planet are sold at auctions, and the show that kicks off the season for well-heeled collectors is in Amelia Island. On one weekend in March, this small beach community off the coast of North Florida can make the Hamptons feel cheap.
One collector spent more than $4.5 million this year for a 1935 Duesenberg Model SJ Walker. When the dust finally settled from the car-buying frenzy, collectors had spent more than $26.8 million at the RM Auctions event and more than $28.1 million at the Gooding & Co. auction, bringing this year's total sales to nearly $55 million for the weekend.
Who visits: Super-rich Ferrari lovers
When super-rich car collectors want to have their classic Ferraris restored, one of their first calls is to Wayne Obry in Neenah, Wis. Billionaires are lining up to visit this rural town. Obry said his garage, Motion Products, has an 18-month waiting list, and no amount of money can get your car to the front of the line.
"Just because you have a couple of bucks, you can influence what we're doing? You can change the commitments I've made to my other billionaire customers? Doesn't happen," Obry said.
Who visits: Super-rich shopping for mega-yachts
Megayachts may be the ultimate luxury: Only 1 percent of the 1 percent are in this exclusive club. And if you're not a member, you've probably never heard of Aalsmeer, just outside of Amsterdam.
Some of the world's top yacht owners, including billionaire Larry Ellison, have gone to Feadship shipyards in Aalsmeer to have their yachts designed and built. (At 250 feet, Ellison's yacht, Musashi (pictured left), is nearly the length of a football field.)
Details about these supersized boats are supersecret, but CNBC got access to Feadship, where one yacht under construction is code-named Project Kiwi. According to the company, it is 150 feet long, will take more than 700 hours to complete and cost more than $40 million—pocket change for this mystery yachtsman.
Who visits: Super rich and paranoid
Population: About 5,000
Regular folk might not be able to survive a sharknado, but the super rich sure can. If it does start drizzling great whites, some wealthy preppers will be bunkered in $3 million condos in an undisclosed spot in the middle of the country.
Builder Larry Hall is putting up 11 units in a decommissioned missile silo that he said is bombproof. Though CNBC got to tour these luxe end-of-times bunkers, Hall asked that we not reveal their location for security reasons.
Hall said the compound will come complete with a pharmacy, pet park, video game center and pool. There's even a jail cell if one of the cooped-up, well-heeled residents needs a time-out.
The renovation isn't even finished, but Hall says all the units are sold out. So, if you want in, better jump on the waiting list for the No. 2 silo, which is in development.
Who visits: Super-rich horse hunters
Super-rich horse lovers from all over the world make their way to Saratoga Springs for the Fasig-Tipton yearling auction. For that one weekend in August, you can't swing a riding crop without hitting a multimillionaire. The auction attracts blue bloods willing to spend big on thoroughbreds with promising pedigrees.
This event is much more Christie's than cowboys, with pricey ponies replacing pricey paintings. The most expensive horse sold this year was a filly that went for more than $1.2 million. In six hours, 108 horses were sold for a total of $31.9 million.
Who visits: Super-rich race car drivers
The elite hit the Monticello Motor Club to blow the speed limit and blow off steam. They have no problem finding this tiny hamlet. It's about a two-hour drive from Manhattan, though some members told us they use the helipad or nearby airport to make the trip even faster.
Membership can cost as much as $125,000 and yearly dues are nearly $11,000 for top-level membership. Club President Ari Straus said members race cars that cost more than most houses.
"We have a member here with a Ferrari GTO," he said. "Current value on that car is probably $38.5 million, and he actually takes the car onto the track and does laps in it."
Who visits: Super-rich homebuyers
Don't let this "Jersey" town fool you. There are no Snookis or Pauly D's fist-pumping in 07620, one of the richest ZIP codes in the country, according to Forbes. The median home price is about $5.7 million, but one megamansion in this elite Manhattan suburb makes a few million dollars look like a steal.
Stone Mansion, a 42-room, 30,000 square-foot estate, is for sale for $49 million. The house takes an hour to tour, and its amenities are too numerous to list, but the highlights would be the movie theater, 4,000-bottle wine cellar, 65-foot outdoor pool and a ballroom trimmed in 18-karat gold.
It's an exclusive world filled with enormous fortunes, unimaginable extravagance and a cast of #SuperRich characters with one thing in common: a voracious appetite for success, status and the best of the best.
CNBC unlocks the mansion gates and scores you the ultimate VIP access to a world inhabited by the wealthiest people on the planet. "Secret Lives of the Super Rich," only on CNBC ... you can't afford to miss it.


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According to a WSJ article:
"By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the end of March, customers of PayPal held more than $13 billion in accounts at the online-commerce company. Under U.S. law, PayPal isn’t a bank, and those funds aren’t deposits, but cash that sits without earning interest for consumer s, ready to spend."
Where do you think banking is going?
And more importantly, is it about time?