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DAVAO CITY—With world demand for cocoa constantly growing each year, the city government here is striving to become the country’s top cocoa producer.
But instead of bringing in more large-scale investors, the city government is prioritizing small farmers through its constant education program, technical assistance and market linkages.
Leonardo Avila III, the city’s Agriculture Office chief, said there might be no need for the large-scale plantation type because cacao can be planted along with other high-value crops even in the city’s hinterlands.
Instead of pushing for a plantation-type setup, Avila said they are encouraging farmers to engage in diversified farming since cacao can be inserted within the existing farms already planted with crops like coconut, coffee and durian.
The city’s cacao development program started in October last year and aims to plant the crop in at least 1,000 hectares a year, he said.
“We are continuously educating small farmers, conducting trainings and nurturing cacao seedlings in our nursery,” said Avila, a former city councilor.
He said the growing demand in the local and world market pushed the city government to promote cacao among small farmers.
Currently, cocoa from the Davao region is sold to Europe and THE US markets, the official said.
Aside from the market demand, Avila said the city has seen the potentials of the terrain and the city’s climate condition for cacao farming.
“Not everyone likes to eat durian while cacao has a potential market here and abroad. Everybody wants to eat chocolate and consumption of chocolate is growing,” he added.
Data at the World Cocoa Foundation web site showed that chocolate product consumption has been growing at around 3 percent per annum. From 5.5 million tons in 2001, it rose to 6.5 million tons last year.
Marilyn Carubio, Cocoa Foundation of the Philippines technical adviser for Mindanao, said the country produces 6,000 tons of cocoa a year, 80 percent of which is from the Davao region.
Carubio said that production in the Davao region, particularly in the city, will increase in the coming years given the persistent advocacy of the city government.
The price range of dried cocoa beans in the local market is at P100 to P125 per kilo, while wet cacao beans cost P28 to P32 per kilo.
With the opening of the Cacao Agribusiness Zone Center in barangay Talandang in Tugbok District, she expressed hope that more farmers will now engage in cacao farming.
The facility, which was opened in January this year, has a 24-ton capacity fermentation boxes, sets of solar dryers and hybrid (artificial and solar) dryers, a central nursery, budwood garden, and a training hall.
“We are offering free training to the farmers. We can either go to the barangays or conduct it here in the center,” she said in an interview.
Carubio also disclosed that they offer drying, fermenting and sorting of cacao beans for P15 per kilo, adding that the beans are ready for the market after these processes. She said it takes 10 days to complete these procedures.
Carubio said that as of July this year, they have already disposed 75,000 seedlings to the farmers for P20 each. “We are also aiming to sell 100,000 seedlings by the end of the year.”
Aside from cacao farmers from the city, there are farmers from South Cotabato having their beans processed in the facility.
Cacao Agribusiness Zone Centers are also in Dapitan City in Zamboanga del Norte and Montevista, Compostela Valley.
Dario Divino, CAO’s industrial crops specialist, cited the areas of Calinan, Marilog, Paquibato, Toril and Tugbok districts as suitable lands for cacao farming.
“If a farmer has a hectare of coconut trees, let’s say if he can insert about 900 cacao trees, that’s an additional income already. That’s at least P150,000 of extra income,” Dario said in an interview.
He added that a cacao tree can yield around 1.5 to two kilos of dried beans or around a ton of dried cacao beans per hectare.
As part of developing agroforestry program of the city, Avila said they have chosen cacao since it is a low-maintenance crop.
He added that the through the Sustainable Agroforestry for Rural Upland Communities program, it can help conserve the watershed areas of the city and can be a tool in poverty alleviation.
Divino expressed the same views, saying that unlike mango, cacao does not need a lot of chemicals to be able to produce high yields.
“Cacao can thrive anywhere; it can adopt in our climate. It doesn’t require a lot of maintenance. Look at the farmers in very remote areas. They can still produce a good harvest of cacao without using any chemical or synthetic fertilizers. But for mangoes, you need to spend a lot of money in spraying chemicals to have a good harvest,” said Divino, who used to work as a supervisor in a plantation company.
Carubio considers cacao as a “friendly crop” since even the women can work in the cacao farm. “Even the kids can harvest the fruits because the tree is not really tall, the women can help in pruning.”
Divino added that this is the reason the city is focusing on small farmers because they (farmers) can easily adapt to the technology.
“The problem with plantations is that if the owners changes their mind and they want to plant another crop, you have to cut down the cacaos. This is what happened in our company before,” the agriculturist added.
Avila said the city has a total of 162,000 hectares of agricultural land,105,000 of which is classified for agroforestry development. The area can be developed into a productive land through the agroforestry program, he said.
Aside from cacao, crops like cassava, coffee, coconut, durian and rubber are also being eyed to be promoted under the program.
As of June 10, data from the CAO showed that the current cacao farm is 1,139 hectares. These are in Calinan, Baguio, Tugbok, Toril, Paquibato and Marilog districts.
Avila said these are also the same areas they are eyeing for agroforestry development.
The data also showed that on top of the list is coconut with 16,000 hectares followed by corn (8,328 hectares), Cavendish banana (6,411 hectares), mango (4,133 hectares), durian (3,462 hectares, Lakatan banana (2,034 hectares), pineapple (1,706 hectares.) banana tundan (1,341 hectares), rice (1,310 hectares.), and cacao.
As part of the program, Avila said the city is now maintaining a five-hectare central nursery in Malagos district and eight satellite nurseries spread out in the barangays within the five watershed areas of Davao River, Lasang, Talomo, Lipadas and Sibulan.


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Another restaurant will join the rapidly expanding Westside Shopping Center North in Gretna as interest in the Gretna's commercial hub continues to increase. Moe's Southwest Grill will locate at the center in a space next to Smoothie King, said Thomas McAlister of Realm Realty.
McAlister updated the City Council Wednesday night (May 14) on the shopping center's progress. Rouses Market, which is building a 45,000-square-foot store on site, is expected to open Sept. 1, he said.
"It was a rainy winter,'' McAlister said, suggesting construction delays.
With the closure of Casey Jones Supermarket last month, Mayor Belinda Constant has expressed concern about the impact on the city's budget. Finance Director Raylyn Stevens had projected a $160,000 decrease in sales taxes between April and Rouses initial anticipated opening in August.
Meanwhile, Twin Peaks, a 6,450-square-foot restaurant and bar, is expected to begin a full operating schedule next week. And health store General Nutrition Centers or GNC, also recently launched a location at the shopping center.
McAlister said Realm Realty is actively marketing the former Casey Jones Supermarket. "There is no shortage of interest in that space,'' McAlister said.
Other improvements also are planned, including a new parking lot and traffic pattern, he said.

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This is somehow more controversial than starting a regular GoFundMe.
Youtuber, amateur racecar driver, and all-around car enthusiast Collete Davis is drawing criticism after she announced earlier yesterday (May 19, 2022) she’s selling pieces of her burnt C6 Drift Corvette, as part of a package that includes a signed Print, and Thank You Note, for $45 each.
As Twitter user @fuzzheaadster put it, it’s “the car version of gamer girl bathwater.”
Here are photos from Davis’s announcement off Facebook below.
“This package includes a piece of the burnt C6 Corvette , signed print & thank you enclosed together! By purchasing this package, you’re directly helping rebuild the corvette, and we can’t thank you enough We’ll be back stronger and better than ever. Reborn From Fire. @colletedavis“
These packages are available for sale on houseofprix.com
If you didn’t already know, Davis’s C6 drift Corvette has been an ongoing project for a little over a year at this point.
After at least one official drift competition sporting a handful of different, temporary liveries, 2022’s Hyperfest event was the official shakedown/drift event for the latest evolution of this build.
With a new all-motor LS setup boasting at least 600 HP and a brand-new paint job color scheme that combines House of Prix’s signature palette with Adam LZ’s drift livery, Hyperfest was a big deal.
As you already know, Hyperfest did not go as planned, Davis’s Corvette suffering massive fire damage caused by, what some theorize, including Davis’s team, a leaky fuel rail combined with expanding ports for the injectors.
It didn’t help that Davis did not equip her Corvette with a fire suppression system, a safety item not required for Hyperfest.
As you can imagine, a custom, drift-spec Corvette costs a lot of money to build right, this latest setback requiring tens of thousands of dollars (at least) in repairs, not to mention that fire suppression system.
Davis is quite successful in her own right, the owner, and founder of her own streetwear brand (House of Prix), professional race car driver, not to mention a somewhat successful YouTube account.
Regardless, building cars and racing are arguably two of the most expensive jobs/hobbies a young twenty-something can have.
Unlike streamers who play video games, motorsports is money intensive with actual risks.
And, while Davis’s Youtube IS one of the larger car Youtuber accounts, garnering 50,000 views per video isn’t exactly “paying the bills” income.
The last time I checked, off Adsense money alone, Car YouTubers earn between $7-$9 per 1000 views. (I could be wildly off.)
Based off that, you can do the math. And, that’s pre-tax we’re talking about.
Simply put, Davis needs money and, short of starting a GoFundMe, these $45 packages aim to put a dent into the Corvette’s total repair bill.
The supposed problem with this type of fundraising is, in my opinion, the optics of it, which unfortunately unintentionally mirrors a recent string of controversial fundraisers from other female internet personalities.
The idea of someone selling something for what amounts to nothing actually usable opens a crack for critics and haters to insert their two cents and to throw comparisons to those other unscrupulous money grabs.
“Come get your pieces of burnt Corvette! $45 a piece.”
It just sounds…bad.
In response to hearing about Davis’s latest fundraiser, this Twitter user went for hyperbole.
Thanks but I’d rather have aids— lightly used 1157 bulb (@kanolaoil) May 20, 2022
In Davis’s announcement comments, Marshall Kell dropped this fire meme.
The other 80+ comments are much of the same.
For Davis’s fans and supporters, these packages are merely donations to support one of their favorite content creators and to support women in motorsports at large.
But, to casual Youtube watchers and the majority that come across this tidbit of “drama,” it sounds like some scheme to profit off of literally anything, ala bath water and flatulence.
If you support Davis and her endeavors, head on over to HouseofPrix.com and buy your own custom package.
Otherwise, feel free to join the vocal minority on Twitter and her Facebook comments section to voice your opinion.


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Walmart Gives Its 740,000 Works Free Samsung Phones
Usually when it comes to company phones, you would need to be in a relatively high position for the company to give you a phone. However, that isn’t the case with Walmart who recently announced that they will be distributing a whopping 740,000 free Samsung phones to its store workers.
Confidential Emails Reveal That Walmart Was Working On A Cloud Gaming Service
During the lawsuit between Apple and Epic, confidential emails were revealed as part of an exhibit. What’s interesting is that based on these emails, it seems that several years ago, Walmart was actually developing its own cloud gaming service that they were pitching to companies such as Epic to try and get Fortnite as one of the available games.
Walmart Will Expand Its Driverless Truck Program In 2021
Right now, pretty much all delivery trucks are driven by humans. The problem with this setup is that humans need rest, they can make mistakes, they can be delayed, and so on. All of this means that sometimes when you order something, it might not necessarily arrive in a timely manner.
Best Buy, Walmart Will Only Sell Next-Gen Consoles Online
While online shopping has become increasingly common, one of the advantages of buying a product in-person at a physical store is that you don’t have to wait for it to ship to your location, meaning you’ll be able to get it on the day itself. This is why some people still prefer going to physical stores for launch day purchases.
Walmart Lists iPad Air’s Release Date For Next Week
When Apple announced the iPad Air, they did not mention when it would be released. A rumor earlier this week suggested that Apple might announce something at its iPhone 12 event, but that obviously did not pan out. However, it seems that we might now have a release date to look forward to.
Walmart Wants TikTok As Well
Unless TikTok can find a US buyer for the company, it faces the possibility of being banned outright. To date, Microsoft is the frontrunner in a bid to acquire the company, but it seems that Walmart is now interested as well, although in this case, they might actually want to work with Microsoft to acquire the company.
You’ll Soon Be Able To Watch Movies In Walmart’s Parking Lots
Until a vaccine for the coronavirus can be found, the best way to keep a lid on the virus and prevent it from spreading unnecessarily is through social distancing. This also means that activities that gather large numbers of people in close quarters is discouraged, like watching movies in a cinema.
Walmart Sells Vudu To Fandango
A couple of years ago, Walmart announced that they would be getting into the streaming game by launching their own service called Vudu. It would be similar to some other streaming services where it would offer on-demand video streaming content. However, it seems that the company has decided that they are done on that front.
Walmart Will Conduct Temperature Checks Of Its Employees
While most of us have been advised to stay home to work or study, there are many out there who are still going to work. These people consists of frontliners, such as staff working at businesses that are deemed to be essential, like stores that sell our daily needs such as food and whatnot.
Walmart, Verizon In Talks To Turn Stores Into 5G Hubs
While 5G is mostly touted as a new and faster mobile internet service, the reality is that it can be used for so much more. In fact, it appears that both Walmart and Verizon are apparently in talks about turning Walmart’s stores (or at least some of them) into 5G hubs. This means that in the future, users will be able to take advantage of the 5G connectivity in Walmart’s […]
Walmart To Test Self-Driving Grocery Deliveries
Grocery deliveries have always been around, but these days a number of companies have been working on take it to the next level. For example, Walmart has recently announced that they will start testing self-driving vehicles to help deliver groceries through a partnership with a company called Nuro.
Walmart Customers Can Now Place Their Orders Via Siri
Shopping online these days is a pretty simple process, but if you’d like to be a little more hi-tech about it, you might be interested to learn that Walmart and Apple have entered into a new partnership where Walmart customers shopping through iOS devices will be able to place their orders using Siri.
Sam's Club Now Offers Same-Day Pickup Across The U.S.
Walmart has quickly been scaling up its pickup business as the company wants to offer this flexible option at all 3,100 stores across the country. Walmart-owned Sam’s Club is now making a similar move of its own. The retailer has announced that it’s now offering same-day Club Pickup to customers at almost all of its 600 locations in the United States.
Walmart To Prevent Theft At Checkout Lanes With AI Cameras
In a bid to clamp down on theft at checkout lanes, Walmart has deployed a Missed Scan Detection system which utilized artificial intelligence-powered cameras to check when an item has been moved past the scanner without being scanned first. Walmart has reportedly deployed this system at more than 1,000 stores across the United States over the past two years. Walmart didn’t say how much money it has saved as a […]
Walmart Offers Unlimited Grocery Delivery For $98 Per Year
Walmart is now offering an Unlimited Grocery Delivery subscription service for its customers called Delivery Unlimited. It’s an expansion of Walmart’s current delivery and order pickup service. For $98 per year, Walmart will provide unlimited grocery deliveries through the Delivery Unlimited service.
Walmart Will Expand On The Number Of EV Charging Stations By The End Of The Year
As the number of electric vehicles grow, it also means that there needs to be more charging stations created. This is because unlike gas stations which can be commonly found, EV charging stations still aren’t quite as ubiquitous yet. There have been major improvements made over the years, but we reckon that there’s still a lot more that could be done.
Just Like Amazon, Walmart Wants To Deliver Your Groceries Directly Into Your Home
Amazon has an amazing logistics setup to the point where a couple of years ago, Amazon wanted to push their delivery services even further by announcing Amazon Key. This would allow a delivery person to make the delivery directly into your home, as opposed to leaving your package on your front steps where it could be easily stolen.
Walmart Launches Trio Of Cheap Android Tablets
It was reported not too long ago that Walmart would soon launch its own-brand cheap Android tablets that would compete with Amazon’s Fire tablets which have long been the gold standard of cheap Android tablets. Released under its in-house Onn brand, Walmart is selling one 8 inch and two 10.1 inch tablets. Prices start at just $64.
Walmart Rolling Out Free One-Day Delivery
Walmart has announced that it’s rolling out free one-day delivery for customers in the United States. It will initially be available to customers in Las Vegas and Phoenix before being expanded to Southern California in the coming days. Walmart says that one-day free delivery will be rolled out gradually over the coming months. It plans to reach 75 percent of the U.S. population by the end of this year. This […]
Walmart Opens Its AI Powered Store To The Public
As if Walmart did not already need to compete with Amazon on the digital front, more recently it seemed like Walmart would need to compete on the physical front as well where Amazon started to test out AI-powered grocery stores, where customers could walk in, grab what they want, and walk out without having to deal with cashiers.


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If you are only joining this conversation now here’s what you need to know.
Apple has announced their latest software update including a new app tracking transparency feature, that will grant users the option to opt in or opt out of sharing data within their internal apps.
This means for social apps such as Facebook and Instagram, users can decide to stop sharing critical information that aids social platforms in determining their usage, trends and conversions.
This alert resembles the warning you see when accessing a website with ‘cookies’ or cookie tracking that was developed in response to the General Data Protection Regulation (GDPR).
To see how to edit this feature see here.
What’s the big deal?
User data is used to create targeted audiences for businesses to speak directly to the individuals typically interested in their products or service. Most businesses who advertise via Facebook will see an impact on their targeting, optimisation, conversion rates and reporting, due to the impending reduction in data collection.
According to Statista.com 81% of people only access Facebook via their mobile phone, with only 17.3% using both computers and mobile devices. A mere 1.7% exclusively use a laptop or desktop computer to access the platform.
Considering there will be a large proportion of these users who own an Apple device, we can assume there will be a large focus group of people who can now remove themselves from the data pool. The ability to track events and behaviour will be removed and thus also removing the apps ability to use a remarketing strategy.
However, Apple’s personal advertising app seems to have been excluded from this privacy agreement giving them an alternative motive to this controversial development. But that’s another story!
Who does this affect?
Apple’s app tracking transparency update will significantly change the relationship between users and the apps they use.
The most obvious party impacted is the social giant Facebook, however, under Facebook sits a whole community of businesses that will now be impacted by this change. The social platform has spoken out on behalf of these small businesses as their standpoint for resisting this privacy development. They stated, “Apple’s new iOS 14 policy will harm many small businesses that are struggling to stay afloat and on the free internet that we all rely on more than ever.”
They would like to encourage their users to continue sharing data for a better user experience with a personalised display and targeted advertisement. As well as to continue supporting the small businesses that use their platform and services to reach their community. In a bid to keep data coming in, they have developed an additional educational screen to inform you what your choice to share determines.
Facebook explains “It provides more details about how we use data for personalized ads, as well as the ways we limit the use of activity other apps and websites send us if people don’t turn on this device setting.”
There is also a concern for users who say they will receive much less relevant ad recommendations, leading to an overall decline in user experience. The ads will remain; however, they may not pertain to the user’s interests.
If you are a user of Facebook advertising, you are likely to see changes in the Business Manager interface in the near future. These changes will be required to accommodate the new developments and allow the platform to suit both Android and Apple users.
They will be introducing Aggregated Event Management to employ data tracking without needing to collecting specific, personal data. There is yet to be a clear outline of how this will look but for now, we know Facebook is limiting users to 8 conversion events per domain. The advertiser will be able to highlight which conversion events they wish to track. Thus, providing advertisers with a level of information about the effectiveness of their advertising.
To be informed you can read up on exactly how this change can impact the parameters of your advertising and reporting in detail, see Facebook’s summary of impacts here. In the meantime, there are a few things you can also do to be prepared, here is a list of 5 things you can do now.
Furthermore, if you are a user who is a viewer, not a poster then, you now have a decision to allow your data to remain being shared or to keep it private.
What do you think?
In some ways, this movement is a great stride in granting consumers their autonomy again, giving them the option to share their data from internal apps where there was not an option previously. However, this comes as a disadvantage to applications such as Facebook, which use this type of data for advertising and marketing parameters and thus greatly impacting businesses who use these services.
With reduced information these targeting parameters are less effective, thus making advertising campaigns broader and more expensive to those running them.
As always with the digital world, it appears to be one step forward two steps back, we suspect that there will be more updates to come, watch this space!
If you would like support in this transition phase, we would love to contribute to your social media success. Get in touch to see how we can support you.


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When people hear the term WALE, they immediately think of one of the world’s largest mammals roaming the ocean.
But despite the incorrect spelling, a WALE in real estate terms is one of Australia’s most important terms in the commercial property world.
The latest edition of the LJ Hooker Commercial National Portfolio Magazine for 2014 is now available.
The magazine features a selection of properties available throughout our National Network of Commercial Specialists.
Investment demand for industrial space is set to surge in Sydney, Melbourne and Darwin as investment in non-mining business recovers, according to the latest market update released this morning by LJ Hooker Commercial.
“Overall commercial property markets are beginning to look much healthier,” Matthew Tiller, LJ Hooker national research manager says. “In the past 18 months investment sales and capital markets have markedly outperformed while leasing markets have remained soft.
Retail is slowly but surely bouncing back with pockets of areas around Australia showing an interesting mix of outlets is developing.
While fashion has often been the forefront of traditional retail sales, food is moving into the bricks and mortar sector in both suburban strips and shopping centres, as consumers interest change from what they purchase in person to what they buy online.
It is a good time to own commercial property in Australia – particularly in the industrial sector – as a lack of new building development is seeing a push in the market to lease good quality stock.
Providing comprehensive information on industrial property markets throughout Australia our latest industrial market research reports are a must read.


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Drinking a few cups of coffee a day helps slow the progression of colon cancer, a new US study said.
The study, conducted by a team of scientists at the Mayo Clinic Medical School in Phoenix, conducted for 13 years (from 2005 to 2018), monitored the health of nearly 1,200 patients and their daily intake of food and drinks. The results, published on September 17 in the journal JAMA Oncology, showed that those who drank 4 or more cups of coffee per day, had a 36% higher survival rate.
Metastatic colon cancer is an incurable disease, but diet and exercise increase longevity, says Christopher Mackintosh, an expert at the Mayo Clinic Medical School, part of the research team.
“Our research shows that patients who are undergoing chemotherapy for metastatic colorectal cancer have a habit of drinking coffee, prolonging life,” said Christopher Mackintosh.
Specifically, patients who drink one cup of coffee per day can live for 30 months after diagnosis. People who drink 2-3 cups per day live for 32 months. People drink 4 cups of coffee or more, with a survival time of 39 months.
What’s more, coffee slows cancer progression. People who drink 2-3 cups of coffee a day find their condition worsening more slowly than those who drink one cup.
Previous studies have shown a link between coffee and cancer progression in patients with colon cancer that has not metastasized. However, according to Christopher Mackintosh, this is the first study on the effects of coffee on patients with metastatic colorectal cancer. Research shows a link, but it’s not enough to prove that drinking coffee actually reduces your risk of dying or developing colon cancer.
Christopher Mackintosh warns colon cancer patients not to drink a lot of coffee just because of the results of this study. Instead, he recommends that people with colon cancer who prefer coffee can continue enjoying without worrying about their cancer prognosis worsening.
This view is also endorsed by Erikka Loftfield, a researcher in cancer epidemiology and genetics at the National Cancer Institute in Rockville: “This study reassures colorectal cancer people who enjoy enjoying coffee. “.
Loftfield said coffee contains thousands of chemical compounds, including hundreds of potential biological activities. For example, the polyphenols in coffee are anti-aging and anti-inflammatory, and caffeine can increase bowel movements.
Professor Andrew Chan, a professor at the Harvard Medical School and Massachusetts General Hospital, who evaluated the study, explained: “Coffee contains many anti-inflammatory substances and makes cells sensitive to insulin, regulating blood sugar. “This is the mechanism to help reduce the risk of cancer”.
Experts Loftfield and Mackintosh both said that it is necessary to study more closely the role of coffee in the progression of colon cancer.


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Payment options expand
Published 10:20 am Monday, September 17, 2018
JACKSON – Residents of Northampton County should soon be able to easily pay their water bills over the phone or online. The Board of Commissioners approved the change here Wednesday during their regular meeting.
Assistant County Manager Nathan Pearce presented the information in place of Public Works Director Kirk Rogers who was unable to attend the meeting. The request was to authorize a service agreement with Bankcard Associates, LLC who will provide an electric phone pay and web pay service for citizens to pay their water bills.
Pearce explained the Water Department currently accepts payments by mail, walk-ins, drive thru, drop box, bank drafts, and card payments via phone.
“I know our clerks now are handling credit cards over the phone, and it’s taken up quite a bit of their time and citizen’s time,” he continued, noting the additional payment options will help alleviate some of the pressure on the staff.
The new payment methods will be available as a 24-hour service, so people will not be constrained by the office’s 5 p.m. closing time.
Pearce continued by explaining the department already has the computer software available to use. It simply had not been utilized in the past.
He also noted a 3.5 percent third-party fee for customers who use these new payment methods.
County attorney Scott McKellar stated he had already reviewed and revised the contract, noting a few important details for the commissioners.
“It’s a three-year fixed term contract that rolls over, however we can terminate it at any time without any termination fee,” the attorney explained.
The Board quickly agreed the increase in payment options would be beneficial to the citizens. Commissioner Fannie Greene stated it was much needed, and Chairman Robert Carter noted the added convenience.
“I think many people have found themselves in a bad situation because they could not make the time frame,” Commissioner Geneva Faulkner also added in support of the request.
Pearce concluded his presentation by stating the phone pay system could be implemented by the middle of September with the web payment option following another two weeks later.
Greene motioned to approve the contract with Bankcard Associates, and Commissioner Chester Deloatch seconded. The vote passed unanimously in favor.


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Elon Musk's bitcoin obsession may be why Tesla is going through a dry spell, Morgan Stanley analysts say
- Elon Musk's
bitcoincraze explains why investors aren't focused on other aspects of the company, according to Morgan Stanley.
- "Might Tesla-bitcoin fever may be telling us something about the lull in
Teslasentiment?" analysts said.
- The bank laid out 5 areas that can compete for investor attention through the end of 2021.
Investor focus on Tesla's bitcoin interest may be why the electric vehicle maker is going through something of a lull right now, Morgan Stanley analysts wrote in a Monday note.
"Over the past couple of months, incoming client interest on Tesla is focused mostly on Chinese sales/production data and Elon Musk's tweets regarding bitcoin," analysts Adam Jonas, Billy Kovanis, and Evan Silverberg wrote. "Might Tesla-bitcoin fever may be telling us something about the lull in Tesla sentiment?"Musk's tweets about bitcoin have had a huge impact on its volatility. His comments have triggered accusations of pumping and dumping to profit from big price swings along with renewed calls for a regulatory investigation.
"You just know it's a rather dry spell for Tesla when bitcoin is the dominant new story and dominant driver of investor discussion day in, day out," Morgan Stanley's analysts said.More fascinating than working out the Tesla-bitcoin relationship is that there's a virtual "vacuum" of developments in other areas of advancement it's involved with on renewables, storage networking, and transportation, they said.
Morgan Stanley has a 12-month price target of $900 for Tesla. Analysts laid out five other areas that can compete for investor attention through the end of 2021:
- Capacity expansion outside China in
marketslike India, Southeast Asia, Northern and Central Europe, and the US
- Model expansion into commercial, rideshares, and affordable segments
- Battery manufacturing expansion or inclusion of third-party supply to other original-equipment manufacturers
- Expansion of its full self-driving software subscription service
- Entrance into the Property & Casualty insurance market as an opportunity to monetize on car real-estate
- Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO
- Travel portal Ixigo moves a step closer to IPO
- How to check who unfollowed you on Instagram
- Adani Ports shows a record quarterly volume growth while the shares have already run up over 7% in last 5 days
- India saw a 42% rise in hiring in June compared to pre-COVID level, according to latest Labour Market report by LinkedIn


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Sony has revealed that it has completed the transaction to acquire Ericsson’s 50 pc stake in Sony Ericsson yesterday. The deal was first announced last year on October 27 and now Sony Ericsson is a wholly-owned subsidiary of Sony.
Company has also stated that it will rename Sony Ericsson to Sony Mobile Communications and will integrate mobile business as an important part of its overall electronics business. The formal name change will be completed this month.
Already announced Sony Xperia S will be the first smartphone of Sony Mobile Communications and company is likely to showcase more smartphone models at the upcoming Mobile World Congress.
Details of Sony Mobile Communications:
- President and CEO: Bert Nordberg,
- Corporate Headquarters: London, UK
- R&D sites: Beijing, Lund, Silicon Valley and Tokyo
- Headcount: Approximately 8,000 (as of February 1, 2012)
- Principal business: Design, development, manufacture and sale of mobile phone products
- Stated capital: EUR 100 million ($130.3 million)


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It was in February this year that Rihanna officially confirmed the launch of her very own cosmetics line, Fenty Beauty, "coming Fall 2017". Desperate for details, the teasers on social media are successfully building hype from RiRi fans and beauty junkies alike. So here's everything we know:
The exact launch date
Rihanna recently revealed that "Fall" means September 8, 2017 at 8am. Diarise. At fentybeauty.com you can join 'the Fenty Beauty family" by signing up with your email, to receive updates.
The social media game
They just released this video showcasing an array of campaign faces (including Rihanna herself, of course).
And in a second update on the brand's Instagram page, model Camila Costa says "You don't have to be all the same, all the time," before listing some product shade names (based on the hashtag).
More shade names were revealed by model Slick Woods in this video on Rihanna's personal Instagram page:
We can confirm that the full line-up of campaign models is as follows: Selena Forrest, Slick Woods, Maeve Whalen, Huan Zhou, Duckie Thot, Paloma Elsessera, Halima Aden, Camila Costa, Mallory Merk, Brooke Perry, Rubina Dyan, and Leomie Anderson.
Fear not, the launch is global, and the exclusive stockist for the UK and Ireland will be luxury department store Harvey Nichols. Head to your nearest store on the 8th September at 8am for entry. Meanwhile, at harveynichols.com/fenty-beauty you can join their mailing list and "be the first to hear Harvey Nichols news, shop new arrivals and get exclusive invitations to special events". The products will also be available at fentybeauty.com.
With the tagline "the new generation of beauty" we're expecting innovative formulas and packaging, boundary-pushing shade selections and a shed load of sass from Fenty Beauty. Parent company Kendo Brands describes it as a "prestige make-up line". The first product drop was initially thought to be the holographic lip product used backstage at the Fenty x Puma spring 2017 catwalk show, but it's the foundations that fans are super excited about. Instagram account rihannadailybeauty say the singer confirmed there will be a whopping 40 shades.
The make-up got its red carpet debut during promo for new film Valerian and the City of a Thousand Planets. "Face by @fentybeauty", Rihanna captioned this image where she paired pink eye shadow with apricot lips:
The night before at the London premiere of the film she showcased a deep red lipstick and gorgeous soft brown smoky eye, also courtesy of Fenty Beauty, revealing the variety of hues we can expect. A highlighter for dewy skin also looks like it will make an appearance.
The parent company
Kendo also owns make-up brands Kat Von D and Marc Jacobs Beauty, which are major. Known for their strong pigments, long-lasting credentials and rule-breaking creativity, Fenty Beauty is in perfect company.
The make-up artists
Now this is cool. The Fenty Beauty brand has decided to buck tradition and hold open casting calls for brand make-up artists in three major US cities. There's no news on whether this will happen in the UK, too.
"By opening this up to our larger make-up community we hope to build a diverse team of beauty experts who excel in the areas of artistry, elevated education, make-up experience and have an ability to best represent a brand. This non-traditional interview process levels the playing field and allows artists everywhere an opportunity and have their work seen and be considered for a global position for a dynamic new brand," wrote Erik Soto, global artistry and education senior manager for Kendo, on Instagram.
We'll keep you posted on all further updates here, so keep coming back.


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LG’s first Windows Phone 8.1 device leaked
An image of a Windows Phone 8.1-powered phablet with LG branding has leaked onto the internet.
LG hasn’t made a Windows Phone device since the days of Windows Phone 7. It completely skipped Windows Phone 8, which launched in October 2012.
The Korean company’s Windows Phone future has continued to be in doubt despite Microsoft announcing LG as a “new” hardware partner back in February. LG promptly rebutted the announcement by claiming it had no plans for Windows Phone 8.1 support in the near future.
That’s why it’s still a pleasant (if not massive) surprise to witness the latest leak to emerge from the ever-reliable @evleaks. It’s for a device called the Uni8, and it’s made by LG.
There are no accompanying specs, but a lot can be gleaned from the picture. From the look of the display, with its three main columns of Live Tiles, this appears to be a phablet device in the mould of the Nokia Lumia 1520. It could well be a 6-incher.
Also notable is the apparent lack of a physical camera shutter button along the phone’s right-hand edge. Microsoft has relaxed its requirements for such a feature in recent months.
This would suggest to us that LG is looking to provide an affordable phone that undercuts the aforementioned Nokia Lumia 1520 and its premium specs and price point.
Removing the usual camera shutter button is a move that Nokia itself has made with the entry-level Nokia Lumia 630, though we’d expect the LG Uni8 to be pitched a little higher.
The original tweet mentions a 2014 release date, so stay tuned for more details as they emerge.
Read More: Samsung Galaxy Note 3 vs Nokia Lumia 1520


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Merivale is making its move across state lines, with the Sydney hospitality juggernaut acquiring Tomasetti House at 277 Flinders Lane in Melbourne's CBD for a reported $40 million-plus.
The heritage eight-level building is Merivale's first venue in Melbourne, and its first outside of New South Wales.
The property was purchased from the Millett family, who run the Wake Up! backpacker hotel franchise, for over $40 million according to the Sydney Morning Herald. The building last sold in 2014 for $16.2 million.
As yet, no plans have been unveiled about what will fill the corner building, which currently houses commercial tenants and basement bar The Mill House.
In a statement, Merivale CEO Justin Hemmes expressed his excitement at joining the Melbourne hospitality scene, which he described as "one of the best in the world".
"We are honoured to open our first venue in Melbourne, and cannot wait to work alongside so many local industry greats.
"Melbourne's CBD has suffered terribly from the hardships of the past year. We are committed to doing everything we can to help reinvigorate the city and support it in its road to recovery."
Hemmes' last venture in Melbourne did not receive the warmest reception. In July 2020, Merivale backtracked on plans to expand its Merivale At Home product – a range of home-delivered meals from some of its Sydney restaurants – to the Melbourne market after outcry from the local industry.
At the time, Melbourne was weathering its second lockdown, with local restaurants, cafés and pubs forced to close their dining rooms under the city's stage-three restrictions.
The Merivale portfolio contains more than 70 restaurants, bars and function spaces in Sydney. In March, the company announced it had purchased The Quarterdeck, a tiki-themed bar and grill restaurant in Narooma on the NSW South Coast.


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Indian start-ups : Light robots for physically-challenged
There is so much talk of robots doing jobs more efficiently than us. But Eythor Bender feels that if robotics were combined with a person's brain, we could actually outshine robots! "If you can't beat 'em, join 'em, or as we say, even wear them!" he said.
The company, Ekso Bionics - formerly Berkeley Bionics - that Bender is CEO of, does just that. It makes exoskeletans, or light robots that you can wear to increase your efficiency. for instance, soldiers - who often have chronic back injuries from carrying heavy loads across rough terrains - can carry a lot more. Ekso's exoskeletans could help a person carry up to 200 pounds on their back for 20 kilometres for up to six hours.
Stroke, paralysis and osteoporosis patients as well as anybody with mobility issues or in a wheelchair can walk. "When I'm 80 years old and want to go skiing or snowboarding, I can do so by just wearing a bionic device instead of undergoing surgeries," said Bender.
Most bionic devices today need to be surgically implanted, which bring their own complications. This non-invasiveness, and the fact that it can be donned like a piece of clothing, is what makes Ekso's product distinctive. The company spun out of the University of California (UC) Berkeley in 2005. Grants, including a $10-million DARPA grant, and a partnership with defence giant Lockheed Martin helped Ekso focus strictly on R&D and develop products for the US military. Now that its product is market-ready, it will launch in January 2012. "While it is revolutionary, the cost factor means it will not be a market that grows quickly," said Larry Fisher, a technology research consultant.
While he was at ABI Research, Fisher helped bring out a study which found that the overall market for exoskeletons, powered prostheses and optical sensory devices will exceed $877 million in 2020. Of this, exoskeletons will account for sales of just $292 million. Just 11,000 units will be delivered during this decade.
Ekso's product is indeed very expensive, costing approximately $130,000, plus an annual service charge of about $10,000. This is obviously unaffordable for a typical patient. But then, Ekso is not targeting them directly yet. In 2012, it plans to sell directly to 11 rehabilitation centres in the US, including the renowned Rehabiliation Institute of Chicago (RIC), where the world's first bionic man Jesse Sullivan got his legendary bionic arm.
Down the road, Ekso plans to do some more R&D and come up with products that specifically target end users by around 2014. These will be cheaper, and initially customised, but eventually will be available off the shelf. These will cost about $30,000 to $50,000, depending on the features, which is roughly what high-end wheelchairs cost today.
The market is huge: Bender said the US alone has over 1.5 million amputees and there are over 70 million people in wheelchairs. When Ekso brings out its consumercentric products in 2014, it also plans to focus on creating the requisite customer experience by setting up what it calls "exocentres".


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Slovenian beer on the North Fork?
Well, the beer might itself might not be Slovenian, but Greenport Harbor Brewing Co. received the last of its fermenters shipped from overseas on Thursday. And they hope to be brewing in them soon.
John Liegey, co-owner of the brewery which launched in 2009, said on Thursday that now with all the equipment they need at their new Peconic facility — including well over a thousand kegs — he hopes to be brewing by the beginning of May.
It hasn’t been easy though. The company stands staunchly against the concept of contract brewing — paying other companies to brew their products — and has been unable to keep up with demand while they’ve been building out.
“We’ve basically been eating the money,” Mr. Liegey said.
Before long, they should be drinking some in. The new facility on Main Road will allow Greenport Harbor to eventually produce over 55,000 barrels of beer per year. Its current facility on Carpenter Street maxes out around 3,000. They’ll start out somewhere in between, producing about 10,000 barrels per year, Mr. Liegey said.
The Greenport brewery will remain open, the company has said. Mr. Liegey said Thursday that the company’s birthplace will allow head brewer D.J. Swanson to run smaller test batches before bringing the brews over to Peconic.


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Download our new Travel Payments report toexplore a world of opportunity Opens in a new window
Thredd sees strong transaction growth in several business verticals, bucking typical winter payment doldrums.
London, 22nd February 2024 – In the first 6 weeks of 2024, Thredd, a leading modern payments processor serving clients globally, has seen an atypical early-year uptick in debit and prepaid payment transactions.
Both in terms of month-over-month and year-over-year (YoY) growth, volumes have grown across several business verticals. Overall, organic transaction growth for January 2024 vs. the same period in 2023 is up 18% while BNPL, Corporate Spend Managers and B2C Retail providers achieved even more significant increases. This growth trend is continuing into February.
Typically, across the payments ecosystem debit and prepaid payment transaction levels tend to be their lowest in January and February following end of year shopping as consumers and organizations tighten their spending belts. Last year, at the beginning of what proved to be the Fintech Winter of 2023, January and February transactions took a more significant downturn than usual from December levels. In contrast, in January 2024, Visa and MasterCard debit and prepaid transactions processed at Thredd have been steady against December levels and much higher than in the same period of 2023.*
Also of note are the industries that have performed best in January 2024. Specifically, BNPL providers on the Thredd platform saw a 58% increase in volume over January of 2023. Furthermore, this sector has grown threefold since January 2022.* Throughout 2023, there has been industry speculation that BNPL may have peaked, but the performance of Thredd’s clients belies this prediction; BNPL is here to stay. Consumers are voting with their wallets that BNPL fills a unique spot between revolving credit and debit.
The B2B payment providers segment also saw transaction growth of 22% YoY. This group includes accounting and corporate spend management organizations that are addressing the growing need for simplified payouts and disbursement.
In the B2C space, offerings that provide consumers with a reward component for their spending were the winners. While digital bank clients showed climbing transactions over the same period 2023, they were outperformed by these speciality offerings. Some examples include retail spending rewards, charitable giving, and travel-specific incentives. As a whole, this segment grew by 26%, with a handful of growing providers adding more than 1 million transactions in January 2024 vs. January 2023.
Remarking on these recent findings, Jim McCarthy, Thredd CEO, said, “While there are always a number of factors that can contribute to payment growth trends, the segment-specific improvements underscore the traction of digital payments in both the B2B and B2C space. Our 2024 growth to date continues the upward trend seen in the second half of 2023.”
“Another contributing factor,” added Ava Kelly, Chief Product Officer, “is the rising popularity of virtual and one-time-use cards in the market. Corporate payors of all types—from travel management to gig economy payors--have embraced the flexibility of these digital wallet-based options.”
While February is not yet in the books, all average daily transactions in February are up 8% over January—a strong indicator that the growth trends are likely to continue.
“We may not be able to predict future transactions or spend patterns, but this early year volume performance is certainly a positive indicator for 2024 fintech payments programs,” concluded Jim McCarthy. “There is clearly opportunity for innovative organizations who are looking to improve the spending experience for both corporates and consumers.”
*Transaction comparisons are based solely on organic growth of clients processed by Thredd throughout all periods. New client activity is not included.
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Mumbai: Tech Mahindra Ltd said that it would acquire a minority stake in European systems integrator, Servista for an undisclosed sum and would be the latter’s delivery arm for three years.
According to the deal, Tech Mahindra would also assist Servista in securing more large scale technology offshoring business in Europe, the Indian firm said in a statement, adding that it will also nominate a member on Servista’s board.
Servista’s local presence in Europe would be beneficial for an Indian firm such as Tech Mahindra, it added. “Servista’s expertise include services in customer relationship management and billing,” Tech Mahindra said.
Shares in Tech Mahindra were trading 2.72% down at Rs755.95 in a weak Mumbai market.


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Millburn: Police Blotter, May 9
On May 6, Millburn police took a stolen vehicle report at headquarters from a man who said he parked his 1999 Toyota Corolla at the Racquets Club on May 5 at 10:10 p.m. and returned 10 minutes later to discover it missing.
Police were called to Legal Seafoods at The Mall at Short Hills May 8 where a patron reported the theft of her wallet from her purse while she was eating at the bar. According to police, the wallet contained $484, credit cards and her driver’s license.
On May 2, a police officer stopped the driver of a 2012 Toyota Camry in J lot at the mall after receiving a report of a theft from Neiman Marcus store personnel. The investigation led to the arrest of a 20-year-old Irvington man for shoplifting, receiving stolen property and possession of a controlled dangerous substance, heroin, police said. According to police, further investigation discovered the man possessed stolen merchandise valued at $1,145.90 multiple stores. Police issued the man a summons and released him.
Police responded to the Bloomingdale’s parking lot at the mall May 3 on a report of a shoplifter being detained. According to police, officers arrested a 28-year-old Belleville woman for shoplifting a $125 wallet from the Lacoste store. Police issued the woman a summons and released her.
On May 4, police were called to the Salvatore Ferragamo store at the mall to take two theft reports. Store personnel report the theft of a wallet valued at $760 and two handbags valued at $2,800.
Police responded to Bloomingdale’s on May 6 where store employees reported two thin black males, both wearing dark-colored pants and white shirts, cut security tags off four backpacks valued at $3,540 and ran out of the store without paying for the packs.
On May 7, police were called to the mall’s Gymboree store to investigate reports of a theft. Gymboree personnel told police a 42-year-old woman from Warren concealed two articles of clothing valued at $33.90 in her purse and left the store without making payment. Police arrested the woman, who, according to reports, was found to also have a tie valued at $95 stolen from the Hugo Boss store. Police charged her with two counts of shoplifting and released her with a summons.
Police responded to the bus stop near the mall May on 7 to investigate a reported theft from the J Crew store. Mall security officers reported a 19-year-old Hillside man threw a pair of stolen J. Crew sneakers valued at $80 into some bushes near the bus stop. Police arrested the teen and charged him with receiving stolen property. Police report he was found to have outstanding warrants from Millburn, Union County and Irvington, and he was remanded to the Essex County Correctional Facility. Police also report a 20-year-old Newark man who was with the teen was found to have warrants from the Essex County Sheriff’s Office, Elizabeth and Livingston, and he, too, was placed under arrest and remanded to the Essex County Correctional Facility.
On May 8, police were called to the mall’s Sephora store where store personnel reported a 41-year-old Scotch Plains woman concealed three items valued at $108 in a bag and left the store without paying. Police arrested the woman and charged her with shoplifting before releasing her with a summons.
Credit card fraud
On May 2, police responded to the A lot at the mall on a report of an individual being detained for credit card fraud. The investigation led to the arrest of a 19-year-old man from Fresh Meadows, N.Y., for credit card fraud at Macy’s and possession of a counterfeit New York driver’s license. The man was issued a summons and released.
A Millburn police officer traveled to the Newark Police Department on May 5 to arrest a 46-year-old Newark man on an outstanding criminal warrant. The man was remanded to the Essex County Correctional Facility.
Motor vehicle stop
On May 7, police stopped the driver of a 2000 Pontiac Grand Prix near the intersection of Old Short Hills and Puritan roads for having no working taillights and missing a mirror. The investigation led to the arrest of two women, age 21 and 28, and a 24-year-old man, all from Newark, for possession of a controlled dangerous substance, marijuana. One woman was remanded to the Essex County Correctional Facility while police released the other two with summonses.
Police news is compiled by The Item of Millburn and Short Hills from information provided by the Millburn Police Department. The information is released to the press at the discretion of the police department and may not represent the total scope of police activity. All persons are presumed innocent unless proven guilty.


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The judge overseeing the Microsoft antitrust case on Thursday gave the company and the Justice Department an extra four days to submit a joint report that had been due in court on Friday.
U.S. District Court Judge Colleen Kollar-Kotelly extended until Tuesday the deadline for a report outlining how both sides think the case should be handled going forward, Microsoft said.
The two sides had filed a joint request for an extension late Wednesday, Microsoft (MSFT) spokesman Jim Desler said. Desler said he did not know the reason for the request. The Sept. 21 date for a previously scheduled conference with the judge has not changed, he said.
Kollar-Kotelly is scheduled to hold hearings in the fall to decide what sanctions should be imposed on the company to prevent future antitrust violations.
Bluemountain for sale: American Greetings said it would buy rival Bluemountain.com for $35 million in cash, just two years after ExciteAtHome paid $780 million in cash and stock for the e-mail greeting card publisher.
The deal will expand American Greetings'(AM) online greetings presence and boost profits and online advertising revenues in 2002. Meanwhile, debt-laden, high-speed Internet access firm ExciteAtHome will get much needed cash.
"For ExciteAtHome, the sale of BlueMountain.com maps to our action plan to focus on broadband and to bolster our cash position and lower operating costs," said ExciteAtHome Chief Operating Officer Matt Jones.
Microsoft help fund: Microsoft is giving $5 million in cash and $5 million in software and services to help relief groups and government agencies deal with the devastating attacks on the World Trade Center and the Pentagon.
The cash would go to the September 11 Fund set up by the United Way of New York and The New York Community Trust, Microsoft President Rick Belluzzo said.
Microsoft (MSFT) also encouraged its 44,000 employees to make personal donations, for which the software giant would make matching donations of up to $12,000 per year, Belluzzo said.
Allen sold shares: Microsoft co-founder Paul Allen sold $50.2 million of USA Network common stock last month, a regulatory filing said.
Allen, who stepped down from Microsoft's (MSFT) board last year, sold 2.19 million shares from Aug. 13-24, according to a Securities and Exchange Commission filing.
He indirectly held about 28 million shares in New York-based USA Networks at the end of August, the filing showed.
Nintendo's share falls: Shares in Nintendo extended losses on Thursday on fears that consumption may stall in the United States because of this week's terror attacks, hurting sales of its new game console.
The company's shares closed down by their daily limit of 1,000 yen or 5.95 percent at 15,800 yen, the lowest this year, after falling by their daily limit a day earlier.
Nintendo's stock underperformed a 0.03 percent rise in the key Nikkei average "The attacks prompted the sell-off since investors are worried the incidents will chill consumers' Christmas shopping appetite for games," said Nobumasa Morimoto, senior analyst at Tokyo-Mitsubishi Securities.
Oracle grieves: Oracle sales account manager Todd Beamer, 32, was among the passengers on United Airlines Flight 93, which crashed in rural Pennsylvania after being hijacked as part of Tuesday's devastating terrorist attack.
Beamer was Oracle's sales account manager for the mid-Atlantic region and lived in Plainsboro, New Jersey. He was on the Newark flight bound for San Francisco to attend sales meetings at Oracle's Silicon Valley headquarters.
Oracle (ORCL) said the search continues for six of its consultants who were scheduled to be in the World Trade Center at the time of the attacks.
Reuters contributed to this report


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“Voice has made a sizeable impact in the smart home and connected CE space, with four out of ten U.S. broadband households currently using some form of smart speaker,” senior analyst Dina Abdelrazik said in a statement. “Since their introduction in 2014, smart speakers have quickly risen in popularity among consumers as an important interface to control and connect the many different devices in the home.”
Voice is extending beyond the smart speaker into smart home adjacencies such as smart appliances, smart doorbells, and smart TVs.
In 2017, only 3% of CE device users reported using voice commands when watching a movie or TV program; Parks Associates’ latest research finds that almost a fifth of consumers now use voice commands to control their connected entertainment devices several times a week.
“Voice interfacing with the entertainment ecosystem is improving the overall user experience through ease of content discovery and recommendations,” Abdelrazik said. “Custom installers can benefit with the use of voice to connect entertainment and smart home systems in the home via a natural and easy-to-use interface.”
Parks is presenting the findings during a Sept. 14 presentation at CEDIA Expo in Denver.
Roku Sept. 4 announced it is expanding its portfolio of premium audio products to include a sound bar and wireless subwoofer.
The Roku Smart Soundbar is an easy way to add premium sound movie, TV and music streaming to any TV with an HDMI input. The optional Roku Wireless Subwoofer expands the Roku Smart Soundbar with deeper, richer bass.
Both products can be pre-ordered from Roku.com for $179.99 each. General availability at Best Buy and Roku.com is also expected in October.
“The Roku Smart Soundbar is a great value and makes it easier than ever to add incredible sound and powerful streaming to any TV. In addition, if you want heart-pounding bass you can easily add that too,” Mark Ely, VP, players and whole home product management at Roku, said in a statement.
The Roku Smart Soundbar is powered by the Roku OS. Four premium drivers offer distinctive clarity, immersive depth and dynamic bass response.
Advanced volume modes enable consumers to reach for the remote less often. Automatic Volume Leveling offers uniform audio level across various types of content, including quieting loud commercials. Night mode lowers the volume for louder scenes and boosts it for quieter ones. Speech Clarity boosts voice frequencies to address intelligibility for crisp, clear dialogue. Automatic software updates will deliver new capabilities over time.
Additional features include: Roku Connect: A wireless protocol that seamlessly connects the Roku ecosystem, Dolby Audio, Bluetooth connectivity, HDMI/Optical Support inputs; Roku Search: cross-channel search offers results ranked by price; Roku Voice search for entertainment, replay, turn closed captions on and off and more through the Roku Voice Remote.
Voice Assistant Compatibility: The Roku Smart Soundbar works with Google Assistant and is compatible with Amazon Alexa-enabled devices
Roku Voice remote: The point-anywhere remote features channel shortcut buttons and TV on/off buttons.
The UHD Alliance, along with leaders in consumer electronics, the Hollywood studios and members of the filmmaking community, Aug. 27 announced collaboration on a new viewing mode for watching movies and episodic TV called “Filmmaker Mode,” designed to reproduce the content in the way the creator intended. (L-R): Panasonic’s Ron Martin, Vizio’s Kenneth Lowe, Warner’s Michael Zink and director Rian Johnson were on hand to announce the launch. (Photo by Patrick T. Fallon for UHD Alliance)
Shares of Best Buy, Roku, Apple and other consumer electronics retailers/manufactures rebounded after President Trump delayed until Dec. 15 a proposed new 10% tariff on cellphones, laptop computers, video game consoles and other goods manufactured in China.
The tariff on $300 billion worth of products, which Trump announced Aug. 1 as part of ongoing trade tensions with the world’s No. 2 economic power, would have been on top of an existing 25% tariff Trump previously imposed on $250 billion worth of other Chinese goods.
The delay came after intense lobbying efforts in the nation’s capital convinced administration officials the new tariff could have serious implications to the U.S. economy entering the fourth quarter.
“Just in case they might have an impact on people … what we’ve done is we’ve delayed it so they won’t be relevant for the Christmas shopping season,” Trump told reporters on Aug. 13.
The news was welcomed by Wall Street, which saw shares of Best Buy, Apple and Roku rise 6.5%, 4% and 1%, respectively.
Roku is one of the largest manufacturer of Internet-connected televisions, with many originating from China.
But to the Consumer Technology Association trade group, delaying proposed tariffs only prolongs market uncertainty and impacts consumers 401(K) pension or retirement accounts, among other issues.
“Retaliatory tariffs are bad economic policy in the short and long term,” Gary Shapiro, CEO of the CTA, said in a statement. “The administration’s legally dubious trade war is compromising America’s global leadership.”
Previously-announced tariffs starting Sep. 1 will affect $52 billion in consumer technology products, and the tariffs starting Dec. 15 will affect $115 billion in products. Since July 2018, Section 301 tariffs on China have cost the consumer tech industry over $10 billion, including $1 billion on 5G-related products, according to the CTA.
“Tariffs are taxes,” Shapiro said. “The Chinese government doesn’t pay for them – Americans bear the burden. And next month, we’ll begin to pay more for some of our favorite tech devices – including TVs, smart speakers and desktop computers. The administration should permanently remove these harmful tariffs and find another way to hold China accountable for its unfair trading practices.”
Christmas is officially over. The post-winter holiday blues hit Best Buy entertainment sales with a thud.
The nation’s largest consumer electronics retail chain May 23 reported a 12.7% drop in same-store entertainment sales to $424 million for the quarter ended May 4. The business unit includes DVD/Blu-ray Disc movies, video game hardware and software, books, music CDs and computer software.
Entertainment sales declined less than 1% to $504 million in the previous-year period.
International entertainment sales dropped 14% to $33 million, compared to an 8.3% decline to $41.8 million in the previous-year period.
Overall, Best Buy upped domestic operating income 24.3% to $332 million from $267 million last year. Revenue upped less than 1% to $8.48 billion from $841 billion.
The largest comparable sales growth drivers were appliances, wearables and tablets.
Domestic ecommerce revenue of $1.31 billion increased 14.5% on a comparable basis primarily due to higher average order values and increased traffic. As a percentage of total domestic revenue, online revenue increased to 15.4% versus an increase to 13.6% last year.
On June 11, CEO Hubert Joly transitions to the newly created position of executive chairman. CFO and strategic transformation officer Corie Barry becomes Best Buy’s fifth CEO and first female chief executive.
Joly appears to relish the transition from day-to-day operations to cushy board oversight.
“I am very proud of the seamless transition we have decided to implement, as it reflects positively on our momentum as well as our focus on executive development and succession planning,” Joly said in a statement.
Best Buy April 15 announced that its board of directors has elected Corie Barry, currently the company’s CFO, to become CEO, effective following the company’s annual meeting of shareholders on June 11.
At that time, current CEO Hubert Joly will transition to the newly created role of executive chairman of the board.
Barry – Best Buy’s first female top executive – will also join the board of directors, which will expand to 13 directors.
Separately, COO Mike Mohan was promoted to president and COO, while Best Buy searches for a new CFO.
Since joining Best Buy in 2012, Joly has led the company through a successful transformation in the ecommerce era, including improved customer satisfaction, market share gains, comparable sales growth and improved margins, while achieving $1.4 billion in cost reductions.
In fiscal year 2019, Best Buy essentially delivered on its fiscal 2021 revenue and operating income targets two years ahead of schedule and returned $2 billion to shareholders through dividends and share repurchases.
As executive chairman, Joly will continue to lead the board while advising and supporting the CEO on key matters, such as strategy, capability building, M&A and external relationships.
In addition, he is expected to assume certain responsibilities at the request of the CEO, in areas like government affairs, community relations and leadership development.
“We have a tremendously talented, deep and dedicated leadership team at Best Buy,” Joly said in a statement. “Corie has played a critical role in developing and executing the proven growth strategy in place today, and I am confident she has the vision, skills, experience and leadership capabilities necessary to be our CEO.”
Barry joined Best Buy in 1999 and has held a variety of financial and operational roles within the organization, both in the field and at the corporate campus. She became CFO in 2016 and, prior to that, served as the company’s chief strategic growth officer.
Barry has also served as SVP of domestic finance and as the interim leader of Best Buy’s services organization.
“I am deeply honored to have been selected as Best Buy’s next CEO and look forward to working closely with Hubert, our board, and the exceptional Best Buy family to continue the momentum we have been able to achieve,” said Barry. “Today’s technology and consumer landscape creates tremendous opportunities for Best Buy to further expand and deepen relationships with our customers and employees, while continuing to deliver shareholder value.”
Prior to Best Buy, Barry worked at Deloitte & Touche. She holds bachelor’s degrees in accounting and management from the College of Saint Benedict, where she also serves on the board of trustees. Additionally, she serves on the board of directors for Domino’s Pizza.
Mohan’s responsibilities include oversight of all customer channels for Best Buy’s domestic business including retail, e-commerce and customer experience, services, home, and Best Buy Business. In addition, he leads category management, merchandising, marketing, supply chain, and real estate for Best Buy’s core U.S. business.
He joined the retailer in 2004 as VP of the digital imaging business group and has assumed additional responsibilities throughout his career across nearly all of Best Buy’s product and business categories. He has overseen the launch of thousands of store-within-a-store locations in partnership with leading technology vendors, the expansion of Best Buy’s own Magnolia and Pacific Kitchen & Home brands, the evolution of the company’s private-label brands, and the rise of emerging categories, such as 4K UHD TVs, health and fitness devices, and connected home products.
Before joining Best Buy, Mohan was VP and general merchandise manager for Good Guys, an audio-video specialty retailer that operated 79 stores in the western United States.
“Hubert has done a tremendous job leading Best Buy’s turnaround, assembling a deep team of talented leaders and instilling a clear strategy for future growth and lasting success,” said Russell Fradin, the board’s lead independent director. “As a board, it is important to build on this strong foundation by implementing a thoughtful succession planning process. We are confident that Corie and Mike are perfectly suited to continue working with Hubert and the rest of the management team to build on our success and drive Best Buy into the next phase of its transformation.”
LG Electronics announced a new 2019 sound bar lineup to be showcased at CES 2019.
The bar lineup is equipped with artificial intelligence and features two CES Innovation Award recipients (models SL9YG and SL10YG), according to an LG press release. LG’s premium SL9 took home the Best of Innovation title, the company announced.
LG models SL10YG, SL9YG and SL8YG were created in collaboration with Meridian Audio.
“The collaboration goes far beyond basic fine-tuning or the adoption of feature-sets, with both companies joining forces to engineer sound delivery for a truly unrivalled listening experience,” according to the release. “Drawing on 25 years of experience as the Master of Digital Signal Processing, Meridian’s Bass & Space technology improves the soundstage and envelops listeners in rich, uncompromising sound and strong bass. Together with its Image Elevation technology, designed to lift the soundstage in a more lifelike way to boost listeners’ sense of immersion, Meridian creates a true cinematic experience, delivering powerful surround sound like no other.”
Able to up-mix two-channel audio to multiple, distinct channels without generating any distortion, the Meridian Upmix technology increases sound immersion by improving the sound field while upgrading the clarity of vocals and lead instruments, according to LG.
LG’s sound bar models SL10, SL9 and SL8 support both Dolby Atmos and DTS:X. Users can add the Wireless Rear Speaker Kit (sold separately) to achieve a more cinema-like experience, according to LG.
The new sound bars also offer AI smart connectivity and voice recognition with the built-in Google Assistant. Users can control their LG sound bar and get information with a command such as, “Hey Google, increase the volume,” or, “Hey Google, what artist is playing?” Compatibility with Google Assistant-enabled smart products make it possible to control connected devices throughout the home via voice command. Users can say, “Hey Google, ask LG to turn on the air purifier,” to the sound bar to make adjustments.
The sound bars “have a sleek, understated design that perfectly matches the chic style of LG’s exceptional OLED TVs,” according to LG. At 57mm (2.25 in) deep, the LG SL9 can also be installed flush to the wall. An integrated gyroscope sensor gauges the position of the product (fixed to a wall or on a flat surface), adjusting sound directionality to guarantee the optimal listening experience, according to LG.
“LG’s 2019 sound bars deliver amazing performance tuned in close partnership with Meridian Audio with the convenience of smart AI connectivity,” said Kim Dae-chul, head of LG Home Entertainment Company’s audio and video business. “The high-quality sound and versatility of our newest lineup takes home entertainment to a whole new level and satisfies a growing demand for premium sound bar solutions that provide impressive listening experiences, greater convenience and stylish, modern aesthetics.”
Size matters when it comes to high-definition televisions.
Despite flat TV shipments in the most-recent fiscal period, the average TV unit-shipment screen size increased more than any previous quarter in the past year.
Global shipments of 60-inch and larger TV screen sizes increased more than 40% year-over-year, with even stronger growth in North America and emerging markets, as prices fell to new lows for 65-inch and 75-inch units, according to new data from IHS Markit. The growth rate is more than 10% higher than in recent quarters.
While promotions for the World Cup raised TV unit sales more than 7% in the first half of the year, Western Europe, Latin America, and Middle East and Africa all experienced double-digit TV shipment year-over-year declines in the third quarter.
“Each year during the holiday shopping season, brands and retailers try to push ever larger screen sizes to keep revenue growing and encourage adoption of value-added features like 4K and smart TV,” Paul Gagnon, research and analysis executive director, IHS Markit, said in a statement.
“This year, there’s higher interest in 65-inch 4K TVs for many of the key promotional deals, leading to less focus on smaller screen sizes under 50 inches.”
IHS said expanding screen sizes bodes well for sales of 4K units. In fact, the share of 4K TV shipments in Q3 reached a record high of nearly 44%. Due to sustained premiums and larger average size, 4K TV made up more than 71% of all TV revenue during the quarter.
Prices of 65-inch 4K LCD TVs fell to an average of $1,110 in North America during the quarter, from $1,256 in the previous quarter. In China, the average price of 65-inch TVs was even lower – just $928, after already falling below $1,000 in the second quarter. Xiaomi and other brands have aggressively pushed prices lower as competition intensifies in China. In other regions, prices were considerably higher for 65-inch 4K TVs, due to less intense retail competition and a smaller addressable market.
LCD TV shipments increased by 14%, quarter over quarter. Quantum dot LCD TV shipments rose to 663,000 units in the quarter, with an average size exceeding 60-inches. The average size of OLED TVs increased to more than 59 inches for the first time, as the 65-inch shipments share grew to a new high of more than 38%.
Heading into last week’s Black Friday retail weekend in the United Kingdom, tech shoppers apparently weren’t looking for DVD players, desktop PCs and MP3 devices.
New data from Ofcom, U.K.’s communications regulator, found that 64% of consumers shopped for a DVD/Blu-ray Disc player in 2018 – down from 83% in 2008. Another 27% bought a MP3 player, compared to 44% in 2008. Less than 30% bought a PC, down from 69%.
“As technology evolves and transforms how we live our lives, the devices we rely on are constantly changing,” Ian Macrae, director of market Intelligence at Ofcom, said in a statement. “The growth in popularity of streaming services has created tremendous demand for connected TVs, which for many people are replacing DVD players, and the smartphone is replacing several other devices at once.”
While smartphones (78%), smart TVs (42%) and wearables (20%) have increased in popularity among British shoppers, connected DVD/Blu-ray players affording physical and digital access still resonate.
In fact, excluding the ubiquitous smartphone, DVD/Blu-ray Disc players still top tablets, E-readers, digital video recorders, smart TVs and wearables on consumer purchases in 2018.
With Netflix favored by 44% of 765 million people globally who use an over-the-top video service, according to eMarketer.com, connected disc players remain an important conduit linking the living room TV with the Internet.
Indeed, through 2022, consumer spending on traditional home video and pay-TV will decline less than 2% to $11.5 billion, according to consulting firm PricewaterhouseCoopers (PwC).
Best Buy is looking good heading into Black Friday (Nov. 22).
The CE retailer Nov. 20 reported 12.4% increase in third-quarter (ended Nov. 3) same-store entertainment sales, compared to 4.1% increase in the previous-year period.
The entertainment segment, which includes DVD/Blu-ray Disc movies, video game hardware and software, books, music CDs and computer software, generated 6% ($525.3 million) of Best Buy’s domestic revenue in the quarter compared to 6% ($509.5 million) last year.
Internationally, entertainment same-store sales increased 10.8%, generating $58.4 million (7%) of revenue. That compared to 7.8% increase and revenue of $49.7 million (6%) last year.
Best Buy’s legacy CE unit saw 3.7% increase in domestic same-store sales, up from 3.5% increase last year. Revenue remained relatively flat at $2.71 billion compared to $2.63 billion last year.
The nation’s largest consumer electronics retailer remains upbeat heading into Black Friday and the winter retail season.
“The holiday season is here, and our team has put together a best-in-class assortment, prepared an amazing set of deals, and ensured we have great inventory availability across all the product categories we carry,” CEO Hubert Joly said in a statement. “In addition, we have continued to enhance our digital shopping experience and further improved our shipping speed, allowing us to delight customers with fast and free delivery.”


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Just in time for the holidays, the China Law Blog (previously) rounds up the three most common scams in China that target foreign firms: "Come to China and celebrate our deal" (foreign business person concludes a deal, goes to China, and is roped into paying for a banquet, gifts for the Chinese company boss, and…
The China Law Blog (previously) reports on the kinds of questions that western businesses operating in China are raising; China's serious economic downturn and rising authoritarianism have turned the site's normally businesslike posts into a glimpse of a kind of cyberpunk stranger-than-fiction dystopia (for example).
A post called "The Right Way to Reduce Your China Product Costs" on China Law Blog (previously) sounds like pretty anodyne stuff, but it turns out to be a catalog of several technothrillers' worth of ultra-weird, real-world skullduggery and chicanery from the world of late-stage capitalism and trade war.
For decades, it was a commonplace in western business that no one could afford to ignore China: whatever problems a CEO might have with China's human rights record could never outweigh the profits to be had by targeting the growing Chinese middle-class.
If you owe someone money in China and kidnap them to get paid, the police are likely to treat the whole thing as a civil matter of "unlawful detention" and stay out of it (especially if the debtor is a foreigner and the lender is Chinese).


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Don't-Miss Productivity Stories
The CEO explains how 'a better Twitter,' not fundamental changes, might woo new users
The exec served as senior VP of ads and commerce at Google
The site increased its user base by 30 percent from last year, but investors still pushed its stock lower.
The new Iridium modem connects the Internet to any corner of the planet.
The latest round of reports come after an agreement between the government and tech companies about what information can be released
The social network, now a billion-plus members strong, has reached the end of its first decade.
The patents likely cover a range of software and tools of interest to Twitter
Vice Admiral Michael S. Rogers will take over amid demands for reform of the NSA
Ben Edelman, who studies deceptive Web advertising, contends Blinkx misleads users and cheats advertisers
The company also had mixed results in its ads business
About 53 percent of the company's ad sales came from mobile devices
Tomfoolery's Anchor product will be shut down, the company said
The judge ruled on the royalty rate after the companies did not come to an agreement on it


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First, I'll post their twitter feeds and then we'll look at the numbers.
"Vast majority of Mexican crime guns originate in US" says the Violence Policy Center.
Brady Campaign responds "68K US guns 'traveled' to Mexico, took up life of crime"
"Of more than 68,000 crime guns traced from Mexico to U.S. from 2007-2011, 27,825 of them have been traced to specific retail purchases" Chimes the Coalition to Stop Gun Violence.
CSGV then pipes in with "Of over 68,000 guns traced from Mexico crime scenes 2 US from 2007-2011, only 1,461 were sold by US gun dealers 2 Foreign military or police"
I had to set them straight with "according to the State Dpt in 2009 over 18,000 firearms were sold to MX Government. Of those 26% were diverted into the 'wrong hands'"
and that shut them up. Let's look at the ATF data.
Although the claim is that 68% of firearms recovered in MX and submitted to ATF for trace has traced back to the US, the truth is that only 28% of the firearms submitted for trace can be traced to a Retail Sale. Since ALL firearms originate from a retail sale, (then may change hands through private sale), Where the Hell did the other 72% of the firearms come from? Keep in mind, too, that these 28% of firearms include direct retail sales from the US to the MX government.
According to Sharyl Attkisson, in 2009, the State Department approved the sale of 18,709 firearms to the MX government from US dealers. 26% of which came up missing. That's 4,864 firearms, that can be traced back to the US that was introduced to the criminal element by the MX government. Since the ATF listed the firearms in the year they were recovered, there is no way to know if these 4,864 firearms were recovered in 2009, '10, or '11, or if they've been recovered yet. The reason we don't know is because the ATF refuses to list the firearms by operation or direct sales.
In September 2009, the Mexican government provided ATF with “electronic files containing firearms identifiers and recovery data. The electronic files contained information that initiated over 43,000 firearms traces, excluding duplicates, with most having recovery years ranging from CY 2007 to 2009,” according to information given to the press.
The majority of the sales linked back to the U.S. according to this trace data, actually come from government to government sales, not from normal sales made in American gun shops.
Keep in mind that there are two types of sales from the US to other governments. Government to Government that goes through the Pentagon and Direct commercial sales that get approved by the US State Department.
Well, now it seems that the US government condoned sales are representing the vast majority of these crime guns, not from the average Joe Citizen, but yet Joe Citizen is being blamed on these crime guns.
Further, Katie Pavlich is reporting that this trace information is including stolen guns from the private citizens and businesses from the US.
Now, back to that 72% of firearms that are not accounted for, where did they come from? Could it be from some other ATF operation? Could it be from some other DEA or FBI operation? Maybe the CIA? Who the hell knows. This 72% of unaccounted for firearms could have come from other governments that purchased firearms from the US.
Remember, too, that the 99,000 firearms submitted for trace from the MX government doesn't represent the whole of the firearms that were recovered in MX, only the firearms that could be linked to US. The actual number of firearms recovered in MX is unknown at this time, but certainly includes automatic firearms, rocket launchers, and other explosives that Joe Citizen doesn't have access to.


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According to Harper’s Bazaar, the model worked alongside the famed shoe company’s new creative director, Giovanni Morelli, to create a line of mules that “reflect her own fashion sensibility.” So far, the collaboration offers two styles, says Harper’s Bazaar, which include “the EyeLove (in ballet and deep indigo suede, with one eye motif) and the EyeLoveMore (in frosted grey suede with multiple eyes) – each lined with shearling.”
Working off of an evil eye motif, Hadid told Bazaar that adding the symbol to her shoe designs is about much more than making a fashion statement.
“The evil eye is a powerful symbol meant to protect those who wear it from negative energies,” she said. “It’s emotionally comforting and beautiful and captivating to look at.”
While pieces from the line are not modest — they range from about $638 (£480) to about $765 (£575) — the collection isn’t all about high fashion and high price tags. In fact, Bazaar says that the line continues their long-standing relationship with Pencils of Promise, a non-profit organization that “aims to increase educational opportunities in the developing world.” The Hadid and Weitzman collection has already committed $105,000, says Bazaar, which will help build schools in Ghana, Guatemala and Laos.
Fashion and philanthropy — what could get better!


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Ski resorts benefit from environmental advice
26 January 2009 07:40
Air travel is widely recognised as one of the main contributors to greenhouse gas emissions, but a new website from the Ski Club of Great Britain is helping to restore the industry's positive image.
The industry campaign is also being spearheaded by the Travel Foundation, which is seeking to draw attention to the financial benefits of adopting a green business strategy.
Unveiling MakeSnowSportsGreener.com, Ski Club chief executive Caroline Stuart-Taylor commented: "This new website is the first time we have actually offered practical tips to resorts and businesses on how to become greener."
Sue Hurdle of the Travel Foundation added: "Going greener brings very clear business benefits and we are encouraging all snow sport operators and destinations to get involved and use the free resource. Not only does it help the environment it also helps the bottom line."
The website collects its environmental advice under ten categories, including snow production; sustainable design and construction; water conservation; and communication and education.


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Gears of War 3 Horde Mode DLC Gets Held Back By ‘Technical Difficulties’
Apparently, technical difficulties are holding back the release of the pack, according to an email VG247 received from Epic. Here’s a quote from that email:
“The Horde Command Pack has been postponed due to a technical difficulty,” said Epic PR’s Dom Carey. “The Epic team are working round the clock to fix this issue, but I wanted to give you a heads up that you will not be able to use your Season Pass to download this DLC until it this is resolved.”
The Horde Command Pack is the first pack that will be available at no extra cost to those of you who bought the Gears 3 Season Pass. It packs new fortifications and maps, among other upgrades to the Horde mode. The first story DLC, titled “RAAM’s Shadow,” is due in December. You can snag both packs even if you don’t have the Season Pass, but they’ll run 800 and 1,200 MS Points, respectively. The Season Pass goes for 2,400 points and is good for the first four DLC packs, which amounts to buying each of them at about a 30 percent discount.


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Real Madrid is already safely through to the knockout stages of the Champions League, but Luka Modrić scored a 25-yard screamer against Copenhagen on Tuesday just for fun. This doesn’t even seem fair.
Rikk Wilde’s very human performance made his brand more memorable than they could’ve imagined.
LeBron finally gets his iconic Nike spot.
Madison Bumgarner is the World Series MVP, has a free truck, and now can wear his nickname on his rear end thanks to Jockey. There are (…)
Four years after it came down, the Nike banner is back up.
T-Pain has always been an amazing singer. This isn’t a new thing.
The Vermont jam band honored the Giants’ win at a show in San Francisco.
Marvel Comics has built an expansive Hollywood empire, and rendered its greatest competitor irrelevant in the process.


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Tensions loom as doctors plan mass rally in deepening clash over med school quota
DP leader Lee retains ticket to his constituency for April elections
[EYE] A Buddhist temple where animal spirits find peace
[Weekender] Car camping: How solo female campers enjoy outdoors
S. Korea's meat consumption exceeds rice intakes for 2nd year
South Korea publicly orders some doctors who walked off the job back to work
Korea faces long road in unlocking corporate value like Japan
Marriages in Korea fall by 40% within a decade
[Herald Review] ‘Past Lives’: First love and its many ‘what ifs’
[KH explains] Why is S. Korea mulling ease on marriage ban between blood relatives?
[Andrew Sheng] The promises and perils of the tech warBy Korea Herald
Published : July 18, 2023 - 05:31
How well or badly is the US-China chip war going?
After the Biden administration announced its industrial strategy to revitalize domestic manufacturing, create jobs, strengthen American supply chains and accelerate future industries, the CHIPS and Science Act of 2022 will give as much as $280 billion over the next decade to support US semiconductor chip industry.
Goodbye free markets, hello industrial policy. The outcome of the US-China rivalry hinges on the technology edge and how to use such technology.
In 2018, the Trump administration ban on Chinese tech giant ZTE to buy sensitive components and software from American companies signaled the start of a tech war. The same year, Huawei was put on the “entity list,” requiring US government approval to buy US technology. This story is rivetingly told in “Chip War,” written last year by historian Chris Miller.
In a recent interview, Miller cited three reasons why the US invoked the chip war. First, the US concern over Chinese intentions over Taiwan, as Taiwan Semiconductors Manufacturing Corporation is the leading producer of cutting-edge semiconductor chips. Nano-sized chips are essential in the next generation military and intelligence capabilities. Second, China has certain advantages in narrowing the US-China tech gap. Third, as export controls and sanctions have limited effect, such as those against Russia proved, there was no point in waiting to restrict Chinese access to foreign technology.
With Taiwan as a “choke point” in US-China competition, the Biden administration is adopting a two-prong strategy to compete or contain China in technology. The first part would shift production partly out of Taiwan to “onshoring” or “friend-shoring” allies willing to de-risk dependence on Chinese production. The second part would bring American semiconductor production back home, which has fallen from 37 percent in 1990 to about 12 percent of global output. Moving TSMC and Samsung chip production to US soil are efforts in that direction.
The real killer is the “choke point” strategy, which means that you strangle your rival at his most vulnerable supply chain points. China has always been vulnerable to energy imports, hence the strategic importance of the Malacca Straits. Avoiding this explains China’s remarkable shift to home-based solar energy, installing 413 gigawatts of solar capacity or 44 percent of its own electricity usage -- electricity being the key driver of the digital economy. As Miller shrewdly points out, “China now spends more money each year importing chips than it spends on oil.”
Why are semiconductors so critical in the new great power rivalry? “Last year, the chip industry produced more transistors than the combined quantity of all goods produced by all other companies, in all other industries, in all human history. Nothing else comes close.”
Semiconductors have become so small and so fast, with so much computing power, that they are the foundations of anything “smart.” My iPhone has 10 million times the processing capacity of the 3-metric-ton IBM 360 mainframe business computer that I used in the early 1970s. As the Ukraine war showed, handphones with GPS determine the next smart tool to fight precision-drive drone wars.
We have also moved from hardware to software, because it is the software applications that ultimately create the artificial intelligence computations beyond the capacity of mere human beings. The Chinese are great with hardware, but in the software side, there is still a huge gap with the Americans, partly because China has not yet created the complete tech start-up eco-system that exists in Silicon Valley.
It is illuminating to see that even though China has its own versions of ChatGPT and Nasdaq equivalent in the Shenzhen stock market, ChatGPT sparked the equity revival of the US Magnificent Seven tech stocks (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla) with a combined market cap of over $11 trillion. Nothing like that happened in China this year.
One clue is that Chinese regulators worry about stock market bubbles, whereas the 2000 Nasdaq tech bubble taught the Americans that tech bubbles are not systemically fatal, but their wealth creation, if ploughed into the next generation of start-ups, create new commercial (and military) technologies. Funding market tech innovators is key to next generation technology.
However, the real choke holds over the Chinese are the extreme ultraviolet (EUV) lithographic equipment, which are so precise that they can etch nano-chips into highly compact integrated circuits that are free of bugs and technical flaws. These need such clean contamination-free manufacturing environment that all workers have to wear spacesuits with diapers. Unfortunately for the Chinese, only the Dutch ASML can manufacture the high quality EUV lithographic machines that TSMC and Samsung need to fabricate the most advanced logic chips. In essence, the US has “weaponized interdependence” hold on the Chinese, who are at least a decade or more away from creating their own EUV machines.
Make no mistake. The Chinese can manufacture or buy the less advanced chips that are the workhorse of consumer “Internet of Things” products. But as AI exponentially demand more computing power, China will be stunted in her cutting-edge technology without access to such nano-chips.
The chip war is really about scale and imagination in industrial policy, with gorilla-sized resources and talent thrown at how to wrestle the opponent to the ground through key choke points. Techno-nationalism means that whoever has the best ecosystem of innovation, talent, funding and production dexterity will have the edge over the others. This is not a 100 meter sprint but a bruising, brutal and ugly Long March to techno-superiority. So far, the US and her allies has the edge, but China has the market scale. If by 2030, China accounts for one-quarter of the market, versus 10 percent for the US, as the Semiconductor Industry Association has estimated, who knows who will really have a decisive edge in the Chip War?
Get real. Tech wars are ultimately deadly.
We are no longer on the ring-side watching fantasy New Roman Coliseum tech gladiators killing each other. The next Kill generation game players may end up with Generation Dead.
Andrew Sheng is a former central banker who writes on global issues from an Asian perspective. -- Ed.
(Asia News Network)
Articles by Korea Herald
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Lake Twp. – Michelle L. Thanner, 42, Minnesota, was charged March 22 with theft after allegedly trying to steal merchandise from the Travel Centers of America service station.
• A resident of Lakeview Drive on March 22 reported an identity theft by an acquaintance who opened a Toledo Edison account.
• A Craftsman wrench set was reported stolen from vehicle March 20 by a Plumey Road resident.
• Sergio R. Salazar, 21, Texas, was charged March 20 with obstructing official business.