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Apple Computer Inc. is having a particularly difficult coming of age. Yet most observers think the company can successfully make the transition to corporate adulthood under President John Sculley, now that he has a tight hold on its reigns.
Without charismatic Chairman Steven Jobs, who resigned last month after being stripped of his responsibilities by Sculley, Apple could lose much of its personality as well as some of those visionary qualities for which Jobs is so often touted.
Nonetheless, the feeling out in Silicon Valley is that Sculley, hired by Jobs himself because of his management skills, will aggressively take Apple where it has to go to regain its footing in the slippery microcomputer marketplace.
One sign of that aggressiveness is the lawsuit, filed against Jobs when he left, charging ``breach of fiduciary responsibilities`` and designed primarily to keep Jobs from using Apple technologies. Another is the suit filed against Digital Research Inc., the software house that developed GEM, an operating system that gives other computers ``Mac-alike`` graphics. DRI recently settled out of court and agreed to redo the screens on all existing products so they don`t infringe on Macintosh visuals.
``Sculley has taken the bull by the horns. He knows how to run a corporation,`` said Tim Bajarin, vice president of Creative Strategies Inc., a Cupertino, Calif.-based market research firm. ``At this point, his main role will be overcoming a lot of Apple`s past errors.``
``Sculley is very organized, very intense and very focused,`` said Richard Shaffer, editor of Technologic Computer Letter. ``He`s all alone at the top now. If he doesn`t put all the pieces together, he has nobody to blame but himself. He is already concentrating on redirecting the company,`` he said.
``The beginning step is a change in attitude at Apple. There is no longer the belief that there is only one true way to do things, and anybody who differs is a heretic,`` said Shaffer.
Michael Murphy, editor of the California Technology Stock Letter, thinks Sculley ``will pull it off`` but added that it is going to take time. He is recommending that Apple stock be sold.
``We`re looking at a very poor Christmas for home computers, we`re looking at Jobs selling off the rest of his stock (about 9 percent of the company) and we`re looking at a lot of portfolios that show Apple as a tax loss at the end of the year,`` he said.
``We are considering it a good buy at $12 a share, which will be about 12 times projected earnings for the 1986 fiscal year (which began Tuesday).``
Apple is currently trading around $16.
Analysts at L.F. Rothschild, Unterberg, Towbin recently increased their earnings estimate for Apple`s fiscal fourth quarter, ended Monday, to 20 to 25 cents a share from the 10 to 15 cents previously forecast. Apple has indicated the ``the long, hot summer`` it had predicted was not as bad as expected.
The analysts raised estimates for fourth-quarter revenues to $400 million from $375 million, a 6.7 percent increase from third-quarter figures but 16.2 percent lower than last year`s fourth-quarter sales. Nonetheless, the New York securities firm maintains a neutral rating toward the stock.
Sculley is getting good marks from analysts for quickly turning the nasty business with Jobs over to the legal department and getting down to what he has to do: namely, revive the 7-year-old Apple II line and open up the Macintosh for expansion while finding it a niche in the office marketplace.
The first sign of significant new strategies designed to accomplish those objectives was buried in the avalanche of publicity after Jobs` rancorous departure.
Apple introduced nine new hardware and software products, most of them designed to enhance the Apple II line, the company`s long-neglected cash cow. More significant than the products themselves, say industry analysts, is the strong signal that Apple is once again taking an interest in its traditional home and educational markets.
Among those products for the IIe and IIc were a new 3.5-inch floppy-disk drive, which quintuples current storage capacity; a color monitor; color printers; and increased memory capacity. Apple also introduced a 20-megabit external hard disk drive and low-priced modem for the Macintosh.
``We hope this shows our commitment to new technologies for the II series. We introduced that additional storage capacity for the II line before the Macintosh to emphasize that commitment,`` said Delbert Yocam, Apple`s executive vice president of product operations. Yocam was elevated in the same reorganization that stripped Jobs of his power; he previously headed the Apple II division when it was kept separate from, but not equal to, the Macintosh division.


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Lisa A. Shenkle
Vice President Marketing & Communications
Chicago Aims to Limit Your Ability to Acquire a Purebred Dog as Your Next Pet: Proposed City Ordinance Eliminates Consumer Pet Choice, Threatens Pet Safety
Washington, D.C. – Chicago’s proposed ordinance that will force the closure of pet stores that sell animals creates new dangers for consumers and does nothing to protect pets. Why? Because right now, licensed United States Department of Agriculture (USDA) breeders – and Illinois regulated pet stores – are held to a higher standard of humane treatment. Once the option to purchase a pet from a pet store is removed, those who wish to purchase purebred, or specific breeds of animals, will have no choice but to use sources outside of Chicago, possibly outside of Illinois, and many of them will be unregulated breeders who make deals over the Internet and in parking lots where there are no protections for pets nor any – zero! – for the consumer.
Consumers who purchase pets from retail pet stores have both a greater degree of consumer protection and the greatest opportunity and access to the highest quality veterinary care – in the rare incidents that an animal becomes seriously ill within the first year of life. This set of facts was highlighted by The Chicago Veterinary Medical Association (CVMA) in a statement they just released regarding this ill-conceived City of Chicago proposed ordinance.
This document further states that “The Chicago Veterinary Medical Association (CVMA) strongly believes that ongoing education is a much more effective method to increase pet owner awareness and bring about the desired positive change necessary to address valid concerns regarding unethical, unscrupulous breeders who are the ultimate problem.” The entirety of the statement is available here.
Ken Oh, president & CEO of the Pet Industry Joint Advisory Council (PIJAC), encourages the Chicago City Council to change its proposed ordinance to one that strictly prohibits the purchase of pets from unlicensed, out-of-state breeders or USDA licensed breeders who have recent, uncorrected, direct USDA inspection violations which reflect serious issues that could be harmful to animals. Mr. Oh went on to say that most animals purchased in pet stores in Chicago come from USDA licensed breeders with solid federal government inspection records.
PIJAC has long promoted programs which encourage the adoption of best practices in pet stores including educating individuals and families on proper pet care and assisting the public in finding the right pet for their families.
Presently the IL Public Act 098-0509 exists to protect the pet owners in the City of Chicago and State of Illinois. The Act provides for pet retailer penalties and remedies for consumers if they purchase a pet with medical problems. If the City of Chicago passes this proposed ordinance these protections will disappear as the public will no longer have access to highly regulated pet stores from which to acquire their pets.
“Consumers should have the right to choose a pure bred, shelter or rescue pet.” says Oh. “Some politicians in Chicago want to take that right away from its residents. Pet stores offer one option, shelters and rescues other options, but people should be able to have a choice when it comes to choosing their pets.”
PIJAC knows that the elimination of consumer choice via pet store animal sales would be a regrettable for both animals and consumers – putting pets and consumers at risk, increasing transactions with unregulated breeders with no consumer protection and, certainly, none for the animals who will be purchased from unregulated sources.
The Chicago City Council Committee on License and Consumer Protection will meet on the ordinance to ament the Municipal Code of Chicago regulating the retail sale of cats and dogs on Tuesday, March 4, 2014 at Noon, Room 201A, City Hall.

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Electricians face double whammy of late payments and rising costs
Construction-related companies across Scotland are being hit by a double whammy of rising costs and late payment, according to an influential new business survey which tracks quarterly activity and trends.
On the issue of payment, respondents to the survey confirmed that just under half of all payments from public sector bodies were made within 30 days. But by contrast, only 30% of payments from commercial clients were made within 30 days with the rest taking up to 89 days to settle their accounts.
The survey was carried out on behalf of the Electrical Contractors Association, the Building Engineering Services Association, Scottish electrical trade body SELECT and the Scottish and Northern Ireland Plumbing Employers’ Federation.
It also showed that the costs faced by companies shot up in the second quarter of the year, reflecting ongoing political uncertainty and wider international commodity ramifications.
More than 70% of respondents said that material costs were higher than at the start of the year whilst 29.51% said that the cost of being tendered to had risen.
Other Scottish Government initiatives to improve payment were having little overall impact with just over 10% of respondents saying that their organisations’ projects used Project Bank Accounts (PBAs).
Darrell Matthews, who took over as Managing Director of SELECT earlier this year, said: “The construction sector is currently in a good place in Scotland, but this masks some bad practice in the industry, as this survey highlights.
“Whilst it’s good to see some public sector clients’ efforts on fair payment policy heading in the right direction, it is vital to ensure that SMEs, the lifeblood of the Scottish economy, are paid on time.
“It is also a tribute to the resilience of both small and large employers that they are generally more optimistic about future work despite rising costs and recurring late payment issues.
“The Scottish Government could do more to assist SMEs by enforcing their own powers under the Procurement Act to make sure payments are made on time right down the contractual chain. Changes to the levels at which PBAs are introduced would also help in speeding up payment”.
SELECT’s 1250 member companies account for around 90% of all electrical installation work carried out in Scotland. They have a collective turnover of around £1 billion.
The organisation helps to shape the market environment by representing the industry to all levels of government and helps influence legislation to create industry conditions which enable member firms to provide a quality service and maintain profitability.
For more information please contact Alan Wilson, Head of Membership and Communications at SELECT, the Electrical Contractors’ Association of Scotland, The Walled Garden, Bush Estate, Midlothian, EH26 0SB. T: 0131 445 5577. E: email@example.com. W: www.select.org.uk Twitter: http://twitter.com/updates_select


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Lynk & CO promises lifetime warranties, free connectivity as sedan concept debutsApril 17, 2017
Self-driving Nissan Leaf takes to Europe's streets for first timeFeb. 28, 2017
Nissan has started European road tests of a self-driving vehicle in London using a modified Leaf EV. Britain's flexible approach to testing autonomous vehicles helped Nissan to pick London for its first European tests.
Nissan used defeat device in Qashqai diesel, South Korean court rulesFeb. 9, 2017
A South Korean court ruled against Nissan in an emissions case, siding with the government in its accusations that the automaker had used a so-called defeat device in some diesel variants of its Qashqai SUV. The models were produced at Nissan's UK plant and use 1.6-liter diesels from Renault.
First Shift: A keener Camry, a techy OdysseyJan. 10, 2017
Nissan feeds Rogue demand with smaller SportJan. 9, 2017
Nissan will offer a smaller version of the popular Rogue crossover -- dubbed the Rogue Sport -- in a bid to capture shoppers now considering compact sedans. The Sport is a Nissan Qashqai imported from Japan, and 12 inches shorter than the U.S.-market Rogue.
AutoNews Now: Sports cars slump as boomers ageOct. 21, 2016
Ghosn's Brexit fears ease after meeting with Britain's PMOct. 14, 2016
Nissan CEO Carlos Ghosn said he was confident the U.K. would remain a competitive place to do business after meeting with Prime Minister Theresa May on Friday. Ghosn had earlier warned that the Japanese automaker could halt investment in its British car plant after the country's Brexit vote.
First Shift: Nissan takes self-driving stepJuly 13, 2016
Nissan denies claims it faked emissions figures in S. KoreaMay 16, 2016
Nissan denied South Korean claims that it faked emissions figures in its UK-built Qashqai SUV diesel models. The government's environment ministry said it would fine Nissan $279,920 and order a recall of the 814 new Qashqai vehicles sold in the country so far.


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Activision is looking to raise autism awareness through the release of specially-designed figurines for its Skylanders video game series.
The new series of Skylanders SuperChargers toys are blue and white to reflect the official colors of Autism Speaks, an organization dedicated to autism science and advocacy. The “Power Blue” Skylanders SuperChargers figurines feature Splat and Trigger Happy, as well as their SuperCharged vehicles Splatter Splasher and Gold Rusher -- all of which appear in-game as their special colors.
The toys are on store shelves now at participating retailers in the U.S. and Europe and will be available starting April 1 in Canada.
“Autism affects one in every 42 boys and one in 68 children in the U.S. We’re proud to work with Skylanders, an iconic franchise that’s known for bringing joy and magic to kids and families,” said Peter Morton, vice president of Corporate Development at Autism Speaks. “This year’s Light it up Blue campaign for World Autism Awareness Day marks our first alliance with a video game and toy, and we couldn’t be more excited.”
Internally, Activision is encouraging its employees to take part in efforts to raise awareness and fight rising autism rates by launching employee education and employee-donation matching programs in connection with Autism Awareness Month. Additionally, in recognition of World Autism Awareness Day, employees will have the opportunity to participate in the Autism Speaks Walk on April 2 at the Rose Bowl in Pasadena.
Activision is also making donations to non-profits that are making a difference in the autism community.


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BUFFALO, N.Y. (WIVB) — The clock is ticking down to the end of New York State’s mask mandate for fully vaccinated people.
Under CDC guidelines, people who have gotten their COVID-19 vaccinate no longer have to wear a face mask outdoors and in most indoor settings. Ultimately it is up to each business to decide what they will and won’t allow.
On Tuesday, a spokesperson for Tops announced the grocery store will allow vaccinated shoppers inside without a mask. Unvaccinated people must continue to wear theirs.
The Walden Galleria is also adopting the new guidelines. However, while vaccinated people can go into the mall mask-less, an official said they “strongly encourage” everyone to wear their mask because some stores and venues may have different rules.
“Businesses and organizations: they can set policies on masks and social distancing for fully vaccinated people,” said Erie County Executive Mark Poloncarz. “Grocery stores, movie theaters, restaurants and bars – they can say ‘we want you to wear a mask.’ That’s legal.”
But it’s not only business owners that are weighing their options; customers are also figuring out what’s best for them. Many we spoke with said despite being vaccinated, they plan to wear their masks in crowded areas.
People who haven’t been vaccinated still need to wear their masks indoors. Some we spoke with say this is the push they need to finally get their COVID shot.
While many business owners say they plan to use the honor system when allowing mask-less customers into their store, Gov. Cuomo has said owners and employees are allowed to ask for proof of vaccination.
Marlee Tuskes is a reporter who has been part of the News 4 team since 2019. See more of her work here.


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NASHVILLE – Declining non-interest income is at the top of mind for many credit union CEOs, according to a survey by Credit Union Journal of CEOs at NAFCU’s Annual Conference here. Also getting mention as looming concerns: threats to overdraft and credit card revenue.
Several CU leaders expressed concern with the CFPB’s attention on overdraft pricing, as well as the negative light the member service is being cast by recent lawsuits that allege unfair overdraft practices by banks and credit unions. But what has Scott Wilson’s full attention is the fact merchants in many states – thanks to the recent antitrust ruling against Visa and MasterCard – can add a credit card surcharge.
“If a large number of merchants begin applying a surcharge to credit card purchases, will the public balk at using the plastic?” asked the CEO of $450-million SeaComm FCU in Massena, N.Y. “Will they say, ‘I won’t use credit,’ and start to pay more with cash, debit, or even checks? This is a major concern. Our cards’ interchange revenue has already been impacted by the Durbin Amendment.”
Issa Stephan, CEO of $200-million First Financial FCU in Wall, N.J., also wonders how the surcharge will affect credit unions. He believes the move is just another that lines merchants’ pockets. “Yes, our credit union is concerned about this surcharge. It’s the same sort of thing as Durbin. We are being exploited by the merchants, because we take all the [fraud] liability for the transaction. I don’t have a problem with this if they take the liability.”
Jim Johnson, CEO of $76-million Hopewell FCU, Heath, Ohio, is paying attention to what will happen to overdraft revenue from the CFPB’s new focus on the member service. “Whenever the government regulates fees, that is an issue. I don’t think we can get too nervous about this until we find out the CFPB’s goals.”
However, Lourdes Cortez, CEO of $225-million North Jersey FCU in Totowa, N.J., is not so sure financial institutions have a great deal of time – especially with already thin margins – to let grass grow under their feet and not develop alternative revenue solutions. The CFPB overdraft focus comes at a bad time, she pointed out. “What is really pressing us today is our net income. We are challenged because our margins are becoming narrower, and capital is becoming more of an issue. We can’t go out and build capital like a bank.”


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FC Bureau Social media influencers have changed the way brands promote, market and advertise their products Meet the social media stars Yaas,... ...http://www.mydigitalfc.com/fc-weekend/social-media-influencers
Back from the Dubai International Film Festival (DIFF) where her new film "5 Rupaiya" was screened, Shabana Azmi says it is a poignant, sweet and... ...http://www.prokerala.com/news/articles/a795926.html
Amit Khanna Cultural industries can create over five million jobs in the next five years. It has the potential to be a $200 billion industry in the... ...http://www.mydigitalfc.com/deep-dive/let%E2%80%99s-make-song-and-dance-about-india%E2%80%99s-cultural-heritage
Director Rob Reiner has called out US President Donald Trump on his administrative decisions, calling him "mentally unfit" to govern the... ...http://www.business-standard.com/article/pti-stories/donald-trump-is-mentally-unfit-to-be-us-president-rob-reiner-117121400837_1.html
It turns out that there is serious money in funny business these days! Veer Arjun Singh examines the change. English comics can sell indoor venues... ...http://www.rediff.com/getahead/report/careers-do-stand-up-comics-like-make-money-zakir-khan-atul-khatri-sorabh-pant-aib-eic-neeti-palta/20171213.htm
Unni Mukundan,borne in Thrissur,...


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Virgin Media unveils iPad companion app for TiVo service
Virgin Media has announced the launch of an iPad application that allows users to control the TiVo next-generation entertainment platform via the Apple tablet.
The feature will be released as part of the TiVo service's first major software update, which is due to be rolled out in the coming months. As well as the iPad app, it will incorporate several other features that have yet to be announced.
Subscribers who download the application will be able to use the iPad to search content listed on the TV Guide, as well as the thousands of hours of on-demand shows available, without interrupting what they are already watching.
At the swipe of a finger, they can then begin viewing the programme they have found via the app on their TV sets.
Cindy Rose, executive director of digital entertainment at Virgin Media, said: "The companion app and other forthcoming enhancements ... form part of our long-term strategy to deliver the most dynamic and user-friendly multiscreen entertainment experience in the UK."
The announcement comes shortly after Sky released its Sky Go app, which allows iPad, iPhone, iPod Touch, PC, Mac and laptop users to watch live TV on the move.


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Brighton Pier to announce FY 2022 revenue and Adjusted Ebitda in line with market views
By Ian Walker
Brighton Pier Group PLC said on Monday it expects to report revenue and adjusted Ebitda for the year ended June 26 in line with market expectations.
The company – which has bars in the UK in addition to Brighton Palace Pier in the south of England – also said it plans to change its accounting year to December 31 to ensure the busy summer period is integrated into the same period rather than spread over two reporting periods.
The company will therefore release its earnings for the year ended June 26 by the end of September, and then earnings for the 78 weeks to December 31 by the end of April next year.
The company did not provide any actual figures for the 2022 financial year. However, revenue is expected to be £38.1 million ($46.6 million) compared to £13.5 million for the previous financial year. Adjusted profit before interest, tax, depreciation and amortization – a measure which excludes exceptional and other one-off items – is expected to be £10.4m from £5.1m.
Both forecasts were taken from FactSet and are based on estimates from Cenkos Securities.
Shares at 0727 GMT rose 1.0 pence, or 1.2%, to 81.50 pence.
Write to Ian Walker at [email protected]


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Intel Corp believes the worst is over for a personal computer industry hammered by the mobile revolution.
The Santa Clara, California chipmaker forecast third-quarter revenue above Wall Street's expectations on Tuesday, sending its stock 4 percent higher in extended trade.
Investors have pushed shares of PC mainstays Microsoft Corp and Intel to decade-highs, partly on bets that the global slump in PC demand that began with Apple Inc's launch of the iPad four years ago is hitting bottom.
(Also see: Demand for PCs Still Erratic, Outlook Unstable)
"PCs have stabilized," Chief Financial Officer Stacy Smith told Reuters after Intel's report. He said he expects shrinking demand from consumers in China and other developing countries to rebound, just as it recently has in the United States.
From the end of 2010, the year the iPad was launched, to the end of 2013, annual global PC shipments shrank a total of 12 percent, according to IDC.
(Also see: Global PC shipments to fall 6.1 percent in 2014: IDC)
Intel now expects the market's recovery to help it grow its full-year revenue about 5 percent, slightly higher than prior expectations.
Chief Executive Officer Brian Krzanich told analysts on a conference call that improved demand from companies replacing old PCs would last at least through the end of 2014.
Also on Tuesday, Intel increased its share buyback program by $20 billion. It plans to repurchase about $4 billion of stock in the current quarter, underscoring its confidence in a turnaround and a growing crop of "two in one" devices with detachable keyboards and screens.
"My presumption would be that if they're confident enough to boost it that they see this (PC market) upside maintaining," Bernstein analyst Stacy Rasgon said. "God help them if they're wrong."
Intel said in a statement it expects third-quarter revenue of $14.4 billion, plus or minus $500 million. Analysts had expected $14 billion on average, according to Thomson Reuters I/B/E/S. Revenue from Intel's PC group rose 6 percent in the quarter while its data center group, a big contributor to gross margins, had revenue jump 19 percent.
Intel has made little progress expanding from the PC industry into chips for smartphones and tablets. For the second quarter, Intel said its mobile and communications group's revenue fell 83 percent to $51 million and had an operating loss of $1.12 billion.
Intel's second-quarter revenue was $13.8 billion, compared with $12.8 billion in the year-ago quarter. In June, Intel revised increased its second-quarter revenue outlook to $13.7 billion, plus or minus $300 million, citing stronger-than-expected demand for PCs used by businesses. Intel posted second-quarter net income of $2.8 billion, or 55 cents a share, compared with $2.0 billion, or 39 cents a share, in the year-ago quarter.
Intel shares closed up 0.70 percent at $31.71 in regular trade on Nasdaq.
© Thomson Reuters 2014


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Founder Hoped For Unique Rural Service
Morrow, the Salem entrepreneur, who is best known as a pioneer in aviation navigation systems and his excursion into the snowboard manufacturing business, helped start SkyTaxi last year. The company’s strategy is to provide air service to towns overlooked by the major airlines through a network of SkyTaxi franchisees. Several of these franchisees, in communities such as Klamath Falls, Newport, Corvallis and Medford, originally agreed to buy $500,000 Cessna 414 airplanes to get their foot in SkyTaxi’s hangar door. Morrow claims the initial operations were fairly smooth. In October, however, SkyTaxi’s business hit some turbulence when a key operations manager abruptly quit. The position needed to be filled to meet FAA requirements and, during the hiring process, SkyTaxi was forced to suspend its flights for several weeks until a replacement was found. SkyTaxi briefly resumed operations, but the nearly month-long suspension of its flights stretched its finances. The company decided it was best to stop operations and look for additional capital. “I think it has proven it’s a valid concept,” said M.C. “Bic” Bickert, an investor in Sky Taxi.


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The couple tied the knot on Oct. 7! See photos of their rustic ceremony and their A-list guests -- including Blake Lively & Ryan Reynolds!
Jin Lee and Ali Gray
Oct 9, 2012 at 2:14PM
Courtesy of Questlove/Twitter
The bride and the groom (who are 19 years apart) are all smiles after the ceremony. Questlove put it into one word: "Bliss."
Yummy recipes, DIY projects, home decor, fashion and more curated by iVillage staffers.
The very dirty truth about fashion internships... DUN DUN @srslytheshow http://t.co/wfewf
Behind-the-scenes pics from iVillage.


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Last week, data begin filtering into the blogosphere suggesting that $20,000 is no longer an adequate sum to park a nice late-model used vehicle in your driveway. Some numbers: in 2019, the average cost of a used vehicle in America stood at $23,351. Just four years later, that number rocketed to $34,491 in 2023. So you won’t be surprised by the next piece of info, either. There are only three new vehicles in 2023 with an average transaction price less than $20,000: the Mitsubishi Mirage, Nissan Versa and Kia Rio.
According to numbers we sourced from Truecar, last month the average buyer paid $17,099 for a new 2023 Mitsubishi Mirage. That represents a discount of a couple hundred bucks off the price listed on the car’s window sticker. The next cheapest car on the list is the 2023 Nissan Versa. With an average transaction price of $17,597 the Versa joins the Mirage as the only cars selling for less than $18,000.
Next is the 2023 Kia Rio, which, at $18,069 is actually selling for a few hundred dollars over sticker. And then there’s the 2022 Nissan Sentra. Notice that’s last year’s model, meaning these Sentras have been sitting on the lot for a while, and they still managed to sell, on average, for $22,227 (around $218 under MSRP). Fourth on the list is even older, as leftover 2021 stock of Ford EcoSport crossovers had an average transaction price of $22,407 (that’s around $1,600 off for a new but two-year-old car).
Here are last month’s top 10 cheapest vehicles, listed by average transaction price:
- 2023 Mitsubishi Mirage — $17,099
- 2023 Nissan Versa — $17,597
- 2023 Kia Rio — $18,069
- 2022 Nissan Sentra — 22,227
- 2021 Ford EcoSport — $22,407
- 2023 Subaru Impreza — $22,814
- 2023 Nissan Kicks — $23,061
- 2022 Mitsubishi Outlander Sport — $23,490
- 2022 Ford EcoSport — $24,681
- 2023 Hyundai Elantra — $25,351
The first piece of advice we’d offer to prospective buyers looking for a decent car at a decent price is to take a good long look at the Subaru Impreza. It’s a nice little machine that’s a lot more rewarding to drive than anything on the list that’s cheaper, and it boasts standard all-wheel drive, too. The 2023 Hyundai Elantra stands out on that list, too.
Our second piece of advice is to consider something off this list of low-mileage used vehicles that we’ve highlighted as better options than anything you’ll find new with a sticker that’s less than $20,000. And considering the subject of this article, that means the Mitsubishi Mirage.
The transaction prices shown in this article are sourced from Truecar, which is a reliable place to find out what other people are paying for any given new car or truck across the country. But it’s not the only source to look at. Cox Automotive tracks numbers differently and reports that the Mitsubishi Mirage is the only car selling under the magic $20,000 mark. The Rio and Versa are just over that sum, according to Cox’s calculations.
Finally, it’s worth noting that the Mirage, which as you’ve learned today truly is the cheapest new car currently for sale in America, won’t be in production much longer. So if that’s what you truly want, now might be a good time to make a purchase.


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Gaining consumer trust is an important issue for marketers seeking to ensure that they’re not scaring prospective customers away. In fact, a March to June survey of US adults conducted by About.com found that 84% of respondents felt that brands needed to prove themselves trustworthy before they would interact with them or other information sources. Moreover, the study found that there were 10 primary trust “elements,” or cues, that brands must establish in order to engender trust, including accuracy, expertise and transparency.
In a social media context, customers wanted to see that brands had a significant number of positive reviews, and that they didn’t go out of their way to hide the negative ones. The survey found that 41% of respondents said the ability to see reviews on social networks added to their feeling of trust in a brand. Reviews played a bigger role in cultivating trust than seeing that friends had “liked” or recommended a brand, or that the brand had accumulated a large tally of “likes.”
Video was found to improve trust the most when it served as a complement to other types of content. This ties back in to consumers’ hunger for useful information. Brands can build trust with potential customers by demonstrating expertise through quality owned content that is also devoid of a hard sales message.


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Caesars famously handled the most bets of any sportsbook in the first month of legal online wagering in New York in January, taking 38% of a record $1.68 billion, the most money ever wagered in a state in a single month.
It took less than 30 days for FanDuel to vanquish Caesars. In regulator filings released last week, FanDuel held a 43% share in the state in August, while Caesars had fallen to 13%, third behind DraftKings.
The Chicago-based sportsbook now known as BetRivers was one of only two operators licensed to take bets in the first month in Pennsylvania in 2019 and had its home state of Illinois to itself for its first six weeks of online operation in 2020, giving it starting points of 66% and 100% of handle, respectively.
After six months in each state, BetRivers was down to 20%. The latest reports have it at 9% in Pennsylvania and 11% in Illinois, its two strongest performing markets, yet well behind FanDuel, which leads in both.
When Penn National’s Barstool Sportsbook launched in 2021 in Michigan, where its brand adorned one of three Detroit casinos, it trailed FanDuel by seven percentage points in a dogfight that had BetMGM at 23% and DraftKings at 19% after the first eight days of betting at the end of January.
Barstool fell to 14% and fourth place the following month in Michigan. This past June, it was at 10% overall and in fifth place in online handle, behind Caesars. FanDuel and DraftKings lead in Michigan, followed by BetMGM.
The pace may vary, but the sportsbook pecking order eventually shakes out the same, state after state after state.
A Sports Business Journal analysis of handle in the only eight states in which regulators break out results by individual sportsbooks shows FanDuel with a comfortable lead at a combined 37% through June, followed by DraftKings at 27%, BetMGM at 11%, Caesars at 9%, BetRivers at 5%, Barstool at 4% and PointsBet at 3%. Those seven sportsbooks together accounted for 97% of handle in the eight states, even though Barstool is not live in New York, by far the nation’s busiest betting market.
Those eight states — Arizona, Connecticut, Illinois, Indiana, Iowa, Michigan, New York and Pennsylvania — accounted for 58% of U.S. handle in June.
Offering a more complete look, FanDuel says its most recent internal count has the sportsbook with 38% of U.S. handle, ranking first in 13 of the 15 states in which it operates and second in the other two, where DraftKings is the leader.
CEOs and presidents of five sportsbooks interviewed for this story agreed that the eight states are reflective of what is going on across the country.
The two legacy DFS brands dominate, taking about two-thirds of all money wagered. The two U.S. casino brands that have built national brand campaigns and leaned in heavily to their vast databases of casino players combine for about 20% of handle. And the three that don’t quite fit either of those descriptions — Barstool, BetRivers and PointsBet — divide up all but a sliver of what remains.
For all that you may have heard about a stampeding herd snarling at the starting line, poised to collect vast riches waiting around the bend, it is rare for any of the other 40-odd sportsbooks that hold a license in at least one state to do better than 2%.
“If you had asked everyone in 2018, ‘Is this what the picture is going to look like when you get to 2022?’ — I don’t think many people would have drawn the pie chart the way it is now,” said FanDuel President Christian Genetski, whose tenure as the company’s lead lawyer pre-dates the first legal New Jersey sports bet by three years. “When new states launch, once you get passed the initial blast zone, the water seems to find its level. At some point, it’s not happenstance. So we tend to think it’s execution.”
The coalescence around the seven more widely available brands has been steady through the past three years, with their combined share in the eight states rising from 72% in October 2019 to 88% a year later and 93% a year after that. It reached 99% in April.
The sportsbooks may not be consolidating, but the market certainly appears to be.
DraftKings CEO Jason Robins says users will settle on one or two apps.getty images
“When a state first launches and there’s a big push, it’s like Disney World for sports bettors,” said DraftKings CEO Jason Robins. “Your options have been illegal offshore books for all this time, and all of a sudden you’re like a kid in a candy store. You’ve got all these different apps that all have these great promotions where they’re just giving you money and advertising everywhere. But over time, as the market matures, yes it helps to be part of that first group and you want to be one of the three apps that was downloaded. But I think there’s a lot of consolidation of play.
“It’s too inconvenient to be maintaining wallets and money in three different places and be bouncing back and forth. People just finally get used to one or two and stick with them.”
So if the 15 states with competitive commercial models all have evolved similarly — from early adopter New Jersey to recent entrant New York — what would make one think the next wave will settle any differently?
And if it doesn’t, what does that mean to the seven whose positions appear to be relatively settled, other than perhaps at the margins, and to those who haven’t yet cracked that consideration set — including several well-known, and perhaps well-funded, entrants that haven’t put up a first shot?
“To me, the big question mark in all of this is what happens when there is a measure of business discipline that gets applied to the ad dollars and the promo spend,” said Benjie Levy, head of Penn Interactive, owner and operator of Barstool Sportbook. “I don’t think anybody can look through their crystal ball and say what exists today is what is going to exist in the future when you’re looking at it through a different set of facts and circumstances.
“I submit that how people are approaching the market is going to evolve, and what we saw in this launch phase is going to be different than what we’ll see in this next growth phase.”
Penn National says it has seen an influx of younger visitors to its casino thanks to Barstool.getty images
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None of this should be construed as an assessment of which sportsbooks are making money, or are well-positioned to do so. Handle is how much is wagered, not won or lost. It is not to be confused with revenue — and certainly not profit. But it is a measure of intentional selection; of surrendering a credit card and a social security number, and depositing money into an account with an online sportsbook. And more bettors are doing that with DraftKings and FanDuel than with the rest of the field combined.
So how did we get here?
The legacy DFS operators and their competitors generally agree on the advantages they held going in.
Both spent hundreds of millions to advertise a brand and years building a database of customers, not only collecting names and email addresses, which other sportsbooks could buy through a sponsorship deal with a league or team, but also signing up players to open accounts, pay entry fees and collect winnings. MGM and Caesars had familiar brands, but they weren’t as closely associated with sports.
Industry insiders estimate that 30%-40% percent of FanDuel and DraftKings sportsbook customers migrated from DFS accounts.
Caesars Co-President Eric Hession talks to the media.ap images
“One of the biggest expenses we all have is acquiring customers and investing in getting in front of people so they’ll try out our product, so that’s a big advantage the two of them have,” said Eric Hession, co-president of Caesars Digital. “They definitely have a structural advantage with all the credit cards signed up. Getting people to put down money requires a lot of trust, and it requires a good product and all the things we’re working on on our side — but they already had that for a number of years.”
While Genetski and Robins concede those were advantages, both say there are underappreciated wrinkles to them.
Though FanDuel migrated many DFS accounts, Genetski said the better paybacks have come from lapsed players who dabbled in daily fantasy, gave it up and then returned when sportsbooks were legalized in their states. DraftKings benefited from an even larger legacy base of users than FanDuel’s, but it had none in Arizona, where DFS was banned, and still broke from the gate as the leader, with a 32% share in that state’s first full month. Bettors couldn’t play daily fantasy there, but they knew the brand.
Both also pointed to a factor not often mentioned: that while running a sportsbook may be new to them, operating a digital business, in sports, where fans put in money in the hope of getting more back, is not.
“We were a digital marketing company acquiring users in the exact same way we acquire users now,” Genetski said. “It’s the same tools. It’s the same [marketing] tech. It’s the same execution and expertise. And that’s something that most of our competitors certainly didn’t have: The experience set in-house and the confidence to test and learn and see what’s working and build on it.
“People say brand and database like we just roll out the carpet in a state and off we go. I think that really underserves the role those [marketing] guys play.”
If there was an overstated expectation, it was that equity investments by prominent media companies would be game changers for the sportsbooks that landed them.
“That was one of our premises that was not as accurate as we originally thought,” Hession said. “We thought that having a media partner was going to be incredibly important. I think it is important, but just not as important. It’s certainly not insurmountable.”
Though NBC certainly elevated little known PointsBet, it was not enough to put it in step with the DFS or casino brands. The performance of Fox Bet is an even better example, since that tie-up went so far to convey not only the network’s promotional assets, but the power of its brand.
Fox Bet operates in four states, including two that release handle figures by individual operators. In Pennsylvania, it was at 2% in June. In Michigan, it was at 1%.
“People thought, hey, you just put a good distribution media partner in and slap a familiar brand on it and that was enough,” Robins said. “And it wasn’t. That doesn’t mean media partnerships aren’t good. It doesn’t mean that Fox doesn’t have a strong brand. It’s just that that’s not enough.
“Execution on the marketing side matters. And I don’t just mean can you get Terry Bradshaw to talk about it. That, they do a good job of. But actually creating the conversion flows so that when they do download they convert. And then being able to onboard them onto the product. All that is part of the marketing.”
To be fair, Fox Bet largely has been on ice for the past 18 months, collateral damage in a dispute between Fox and parent company Flutter that has resulted in a visible decline in marketing support for the sportsbook.
Still, if you look back to when Fox Bet was fully supported by its parent in its Pennsylvania launch, it wasn’t in the consideration set with the state’s market leaders, hovering around a 6% online handle share for the bulk of its first year of operation while FanDuel was in the 30s and DraftKings was in the 20s.
It turned out that neither Fox’s money, nor Terry’s money, were as potent as the massive ad budgets of Fox Bet’s competitors, which struck deals with CBS, ESPN and Turner that delivered all the bandwidth they needed.
“I think what people, as George W. Bush would have said — ‘misunderestimated’ — when they were thinking about national media deals is that this is still a state-by-state business,” Genetski said. “I think somebody like PointsBet with a national deal with NBC has struggled to have the scale to get the value out of those assets. Similar situation with Fox Bet.
“We looked at some of those deals in the beginning and thought, we can do this on our own.”
Both FanDuel and DraftKings have developed deep embeds with major national sports outlets — the former with Turner; the latter, ESPN. But they say they only pay off because of the work done after they drive viewers to open their apps.
“We and FanDuel over the years have gotten pretty good at this,” Robins said. “There’s just so much complexity that goes beyond the experience of the customer, the product, the funnel, that was just underestimated and dismissed in the beginning stages of the market.
“There was this phase where everybody was like, great, all I have to do is say ‘I’m launching a sportsbook’ and the market will go nuts and we’re going to have all this share. You had 15 different operators projecting 20% share long-term. Now, I think a lot of them have realized it’s not that easy.”
Despite seven key players, and numerous others, FanDuel eventually rises to the top in each state after some time.getty images
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Of the seven leading sportsbooks, only PointsBet came to the table without a DFS customer base as a foundation or a land-based casino as a backstop.
Bolstered by a media tie-up with NBC and its regional sports networks and owned stations, the Australia-based company has managed to hold its own in Illinois with a share of 9%, ahead of BetMGM, Caesars and Barstool. But its next best performance is 3.6% in Colorado. It’s at 2%-3% in seven of its eight other states.
Last week, PointsBet revealed that it had pulled its brand from an expensive ad play on NBC’s “Sunday Night Football” pregame show, choosing to redirect its committed spend with the network to local and regional buys in the states in which it operates. It also is shifting its focus from broad customer acquisition within those states to efforts targeted at what it projects will be higher value bettors, offering more favorable odds, higher limits and an emphasis on the in-play betting that they find more appealing.
“We’re going after the sports bettor; the person who bets first and sort of watches sports second,” said Johnny Aitken, CEO of PointsBet USA. “That’s where we’re focused. We’re not here to be everything to everyone.”
That segment likely represents less than 5% of available U.S. bettors, Aitken said, but PointsBet projects them to generate 60% to 70% of revenue. He rejects the premise that DraftKings and FanDuel long have forwarded, that digital businesses are expensive to launch and bleed capital at the start, but deliver outsized rewards if customers are captured at scale and retained for long periods.
“One of the misnomers of the industry to date is that it’s an industry like direct-to-consumer, where it’s about a volume of customers and once you get to a volume of customers your business model works,” Aitken said. “If Netflix gets to a million customers all paying the same fee their business model works and they’re successful. This is really a super user business. It’s really is about the average revenue you’re getting per user rather than the total number of users.”
So is scale necessary to survive? This is a point of debate among operators.
Those with casino roots say it matters, but in the context of their larger business, which also includes land-based casinos, online casinos, hotels and, in some cases, a host of amenities connected to them. Just as a sportsbook at the back of a Las Vegas casino forced guests to walk past the tables and slot machines to get down on the Giants game, a sportsbook app beckons them to try online blackjack.
While Penn hasn’t done much to push its older demo rewards to bet online with bruh-centric Barstool, it has noticed an uptick in younger sports bettors checking out its casinos.
“We’ve consistently not stated a market share goal, and part of that is that we view this as a different business than a lot of the other competitors,” Hession said. “We look at it as a business that’s going to be great for acquiring customers, getting them into Caesars Rewards, and we’re going to be able to offer customers online and retail experiences. So our objective is different than some of the competitors that don’t have the ability to do that.”
The leaders concede that it’s possible that a sportsbook could operate profitably, in a single region or in one state or a mix of states that met the objectives of a broader business, and find sustainable success. But they’re skeptical about the prospects of sportsbooks that intend to play nationally hanging around in single digits.
“Over time, the scale advantage of being able to build more product and get your product farther ahead, the marketing advantage of being able to spend more and get your name out there more on a national scale, all those things I think just become impossible for the smaller players to compete with,” Robins said. “Will they be able to cling to 1% or 2% share over the long term because they have a fiercely loyal base of customers? Maybe. But that’s going to become increasingly harder. That’s why we felt it was so important to get off to a fast start and be one of those big players.
“We felt that if we weren’t in the mix of the top 3-5 within the first couple of years in the market, we would have lost already. We said that on the day that we decided we were doing a sportsbook, and I haven’t changed my mind on that since.”
There’s lots yet to unfold. Even after Massachusetts and Ohio open next year, the share of 21-and-over U.S. adults who can bet legally from home will be a few points shy of half. California, Florida and Texas remain tantalizingly green fields. Fanatics hasn’t taken its first online bet yet. ESPN rattles behind the curtain.
But entering at this point seems a daunting proposition. The only acquisitions that would offer a foothold in already legalized states are the four leaders. There are operators that a new entrant could buy to cobble together the licenses it will need to build a footprint, but none of those come with many customers.
They’ll be starting from nearly scratch in most of the states in which you already can bet, plus facing what thus far have been massive expenses to launch in new ones.
“It’s a high-cost basis business, which is OK if you’re operating at scale and you have a big chunk of the market,” Genetski said. “There’s a very clear path to profitability for a company like FanDuel. It’s a harder story to tell yourself if you’re starting out to absorb all those costs without the revenue base.”
At a recent charity golf event, Robins struck up a conversation with a 20-something caddie from New Jersey. He described himself as a casual bettor who had sampled many apps, drawn by the sign-up offers. He meandered from one to another, looking for the best odds or promotions. But in the last year, he’s settled on two: DraftKings and FanDuel.
He said knew them, liked them and can’t be bothered bouncing around any more.
“There may be periods of time where someone can come in with something and make a splash,” Robins said. “But over the long term? No, I don’t think it’s going to change.”


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Panelists examine entrepreneurship
Emily Schrank | Wednesday, February 24, 2010
When senior Jeff Lakusta was a freshman, he never imagined that he would one day be the president of a successful, internationally recognized nonprofit organization.
“After traveling to South Africa and getting a firsthand look at the extreme poverty that exists there, I realized one person can make a huge difference,” he said.
“Recognizing the interconnectedness of humanity is key,” Lakusta, founder of the Eyes on Africa Foundation, said in a panel Tuesday evening.
Student government and the Gigot Center for Entrepreneurial Studies sponsored the event, titled “Be The Change: A Forum on Social Enterprise,” in the Jordan Auditorium of the Mendoza College of Business.
Five panelists discussed the goals, challenges and rewards of social entrepreneurship, as well as what it takes to be successful in it.
Melissa Paulsen, a project manager in the Gigot Center for Entrepreneurial Studies, said it isn’t just about creating wealth, but also about creating opportunity.
“Social enterprise requires transformation, innovation and purpose,” she said. “It combines an economic engine with a social purpose.”
According to Paulsen, there are a number of resources available to Notre Dame students looking to start a social venture, including the Social Venture Competition.
“We can provide marketplace perspective and real world critical feedback,” she said.
Chris Fuchs, a 2001 Notre Dame graduate and founder of Better World Books, attested to the helpfulness of these resources.
“We didn’t know what we were getting into when we got started,” Fuchs said. “But the connections we made through the Social Venture Competition opened up a number of doors for us.”
Although there are a great deal of both business and logistical challenges in starting a social enterprise, the personal connections that come through the work make it all worthwhile, he said.
“The most exciting thing has been being able to evolve with the business and bring new people into the organization as it grows,” Fuchs said.
Today, the online bookstore generates $7 a minute for nonprofit organizations.
Lakusta said seeing the good he has done keeps him driven.
“If you make a mistake, keep pushing forward,” he said. “What you do helps so many more people than you’ll ever know.”
Other panelists included Sonia Menon, a junior and semi-finalist in the 2010 Social Venture Competition, and David Murphy, CEO of Better World Books.


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In the week ending May 9, 2014, there are several deals on web hosting including a 50 percent discount from Media Temple on its Premium WordPress Hosting.
Media Temple Offers Half Off Premium WordPress Hosting
Media Temple is gearing up for Spring WordCamp season with an offer for 50 percent off its Premium WordPress Hosting. Media Temple added some new features to its Managed WordPress hosting this week. The 50 percent off deal expires May 16, 2014.
SimplerCloud Extends Cloud Hosting Promotions
SimplerCloud has extended the promotion it launched last week offering 50 percent off all SimplerCloud servelets. The promo code SIMPLIFY50 applies to all upgrades or new signups and gives 50 percent off the first month. The code is valid until May 16, 2014.
FatCow Offers 60 Percent Off Hosting
FatCow is offering 60 percent off web hosting for a limited time. With the discount, its packages start at $3.15 per month. Each package includes a free domain, as well as Google AdWords credit and a $50 Facebook advertising credit.


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Emaar named among YouGov’s Best Brands in the UAE for 2019
Dubai-based developer scored 80.5 points in YouGov's overall ranking and recorded 0.9% growth year-on-year
Dubai-based real estate developer Emaar topped market research company YouGov’s Brand Index with Emirates airline as the best and most reliable brands in the UAE during 2019.
Emaar scored 80.5 points in the overall ranking and recorded a 0.9% growth year-on-year. In addition, Emaar recorded a 20% rise in net profits and 25% increase in property sales driven by foreign investors and first-time home buyers in 2019, as indicated in its financial results for 2019.
Almarai came in third, followed by Apple’s iPhone which ranked fourth. Emirates NBD marked its debut into the top five rankings at the fifth place.
YouGov has collated the list by tracking brand advocacy ratings and by measuring the response to a brand.


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Reddit Ends Secret Santa Gift-Giving Platform
Friday June 11, 2021. 01:20 AM , from Slashdot
Reddit is shutting down the beloved Secret Santa platform Reddit Gifts after the 2021 holiday season. Gizmodo reports: Over the years, the related forum r/secretsanta has attracted over 200,000 members and celebrity surprises such as a cat drawing by Arnold Schwarzennegger, an autographed photo of Shaq, and annual thoughtful gift packages from Bill Gates containing items such as video games, a horse blanket, and 81 pounds of books and toys. 'Why the fuck would you kill this,' a top comment reads. Reddit admins didn't explain much in their announcement yesterday but acknowledged that 'countless acts of love, heroism, compassion, support, growth and hilarity happened through Reddit Gifts, and those memories will live on in the hearts of our community.' Plus loads of free press. Why the fuck would you kill this? Reddit has not yet responded to Gizmodo's request for comment.
Read more of this story at Slashdot.


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Dairy-free Mexicana Cheese scooped award at Quality Food Awards 2020. The spicy vegan cheese was announced the winner in the Dairy-Free Vegan Cheese Blocks Category.
The Quality Food Awards are the most prestigious awards for food and drink products on sale in UK grocery stores. This year the event went virtual announcing the 2020 winners in an online presentation due to current restrictions in place around the COVID-19 pandemic.
Lisa Harrison, the Senior Brand Manager for Mexicana Vegan, said: “The success of Applewood Vegan inspired us to look at creating a vegan alternative for Mexicana. We knew that the demand for dairy alternatives is growing every day.
“We were thrilled with how successful Mexicana Vegan performed in taste tests before it launched in Asda stores in July. Since its arrival in the stores, demand has been extremely strong.
“To win the prestigious Quality Food Award just a few months after its launch is just the icing on the cake for the team that has worked on creating Mexicana® Vegan. We hope that it is the first of many!”
Norseland (brand owner) launched the Mexicana Vegan following the successful launch of Applewood Vegan last year. The company has recently rebranded the Mexicana product so its packaging ‘better reflects its consumers’ zest for life and thirst for new experiences’.


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Countdown's brand new Rototuna supermarket will allow Hamilton shoppers to pick up their online orders via a "store-to-boot" drive-thru, the store opening one month earlier than expected to meet increased demand.
The supermarket, opening on Thursday, will initially be used solely to fulfil online orders. Its opening has been fast-tracked to meet the significant demand for groceries online during the COVID-19 pandemic.
Dubbed the "supermarket of the future", the store will offer home delivery as well as "contactless convenience" for customers collecting their orders through its drive-thru service.
"We made the call to open our Rototuna store early as an online-only fulfilment site to help increase our online shopping capacity in the Waikato area and support more customers," Countdown's general manager digital, Sally Copland, said in a statement on Thursday.
It follows the opening of the country's first dedicated e-Store in Penrose, Auckland last week. The shop is designed to solely support online shopping and delivery, with a team of 200 personal shoppers fulfilling Kiwis' orders straight from the shelves.
Six other Countdown supermarkets have been temporarily closed to support the increased demand for online ordering.
"Opening Rototuna first for online orders means our personal shoppers can shop for our customers without getting in the way of other customers in the store aisles," Copland explained.
"We'll also be packing online pick-up orders directly to the car boot - giving our customers a contactless experience to collect their groceries without leaving the car.
"With physical distancing in place we're expecting this to be a popular choice for people who are able to leave their homes."
The store will operate 12 hours a day, seven days a week, and is capable of fulfilling more than 2500 online orders weekly for the wider Hamilton region.
The store, which was originally planned to open to the public at the end of May, is now expected to allow walk-in customers by the end of June.
It will also be the first Countdown nationwide to test a range of new technologies when it opens to walk-in customers, including the deployment of a safety robot. The robot will roam the store scanning for potential safety hazards on the floor, which the team will respond to.
It has also opened up new employment opportunities in the community, employing 90 local team members. Sixty-nine are new to the Countdown business.
The new store opens for online orders only on Thursday and is located at 3 Fergy Place, Rototuna.


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The newest way you can buy rum in Belmont
For three years Robbie and Caroline Delaney have offered tours of their startup distillery on the banks of the Catawba River, and every single guided tour they’ve have to answer “no” to the same question.
The two point out their reflux stills — they’ve dubbed the twin metal monstrosities Liberty and Democracy — and easily explain how combining simple ingredients the right way can produce high-octane rum a few weeks later.
“By the end of the tour, people are into it,” said Robbie Delaney, co-owner of Muddy River Distillery. “And they’re just so disappointed when we tell them, ‘Nope, you can’t buy any of this from us right here.’”
That will all change this fall thanks to a new state law. For the first time, the couple will be able to sell limited quantities of the company’s signature rums direct from the distillery floor. The shift goes into effect Oct. 1.
“This is going to be a big deal for us,” Delaney said Wednesday morning. “And I think it’s a sign distilleries in this state are taking a huge step forward.”
Hot, sweaty business
Starting with a tiny space in the Belmont Riverside Complex, Muddy River has cranked out its brand of hard liquor since 2012 when it became the state’s first legal rum distillery.
But Delaney said he entered the rum making business almost by accident after reading an article about the craft distilling industry in a magazine several years ago.
Craft breweries were springing up all across North Carolina, and even vineyards and wineries were growing in popularity, but distilleries had yet to really catch on when the Delaneys founded their business in late 2011.
“It just felt like an opportunity we should take,” Delaney said.
The couple settled on rum production, mainly because that’s the liquor their friend, Scott, enjoyed the most. They built their own small still from scratch and moved into a hot, cramped 500-square-foot space in an old textile mill on the banks of the Catawba.
They worked the kinks out of their first product, Carolina Rum, and later introduced a white oak, barrel aged Queen Charlotte’s Reserve.
Before long, the pair was able to increase production from 35 bottles of rum per day to roughly 300, a move that allowed them to shift into a larger 6,100-square-foot space inside the Riverside Complex.
“And we’ve been able to make that jump with no debt, which is a big plus,” Delaney said.
Almost from the company’s inception, the Delaney’s have offered tours of their business. It’s a chance to show off what they’ve learned about the art and science of distilling, but it’s also the company’s best marketing opportunity.
With changes to state law, Delaney said those same tours will allow the company to cut through the middleman and sell their products directly to customers.
The state tightly controls hard liquor sales through its Alcohol Beverage Control system. Delaney won’t complain about the ABC system’s effects on his company. His products are now on the shelves at more than 300 stores statewide, and he doesn’t have to continually negotiate the prices for his products or provide the benefits like price cuts for volume orders.
But now that customers on his tour are each allowed to buy one commemorative bottle of Muddy River rum per year, Delaney said it might boost the company’s sales by 5 percent.
“We’re not going to become a brewery where nearly all of our business comes from sales right here at the distillery, but we do get a lot of people that come in here from the airport — maybe they’re from the UK or Europe — and they’re just not here for that long,” Delaney said. “Now, we’re going to be able to offer something to those friends from out of town.”
Another big change for Muddy River? The company has recently taken on contract distilling work for Paw Murphy’s Mule Kickin’ Midnight Shine. That allows Delaney to keep to stills producing in between runs of his own products.
Reach Adam Orr at 704-869-1819 or Twitter.com/AdamROrr


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AU SOC Professor Montgomery Challenges Junk Food Marketers
Today, about 17 percent of kids are overweight, putting them at greater risk for cancer, diabetes, cardiovascular disease, and other serious health problems. Montgomery says the marketing practices of food and beverage giants like McDonald's, Pepsi, and Burger King, are partly to blame.
"This very well could be the first generation that doesn't live as long as their parents," says the SOC professor of public communication, who has built a career advocating for more kid-friendly media.
In 2007, Montgomery co-authored a study with the Center for Digital Democracy documenting how high-calorie, low-nutrient foods are being marketed to youngsters using everything from music downloads to online games to branded social networking sites. The report, submitted to the Federal Trade Commission, recommends a new set of ground rules for the new "marketing ecosystem" of cell phones, instant messaging, and other digital technologies. She also testified before the FTC about the vulnerability of children to digital marketing in a rapidly changing world.
And while Montgomery doesn't think children and teens should be "off limits" to food marketers, she says parents, policymakers, and health care providers need to draw a line in the sand.
"This is new territory, and in many ways, young people are forging the path," says Montgomery, who explores the issue in her book, Generation Digital: Politics, Commerce, and Childhood in the Age of the Internet. "We can't afford to be laissez-faire. We need to ensure that digital media evolves in such a way that it can be a positive force in our children's lives."


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26 May Under Armour Signs $280 Million Deal with UCLA
Under Armour has signed a 15-year, $280-million contract with UCLA in what is believed to be the largest shoe and apparel deal in NCAA history. UCLA’s contract with Adidas expires next year.
As part of the partnership, Under Armour will exclusively design and supply the footwear, apparel and equipment for training and game-day uniforms for all 25 of the university’s men’s and women’s varsity athletic teams. The long-term agreement between the university and brand, which commences July 1, 2017, is the largest apparel deal in the history of the NCAA, reaffirming UCLA’s status as a world-class institution and Under Armour’s position as a global leader committed to collegiate athletics.
The schoolwide deal was revealed at a noon press conference in California with Under Armour Founder and CEO Kevin Plank (pictured on the right) and UCLA Director of Athletics, Dan Guerrero (pictured on the left).
“UCLA has always been about challenging the status quo and breaking through barriers,” said UCLA Director of Athletics, Dan Guerrero. “Under Armour shares those core values. They are about more than simply making athletes look good, they constantly pursue innovation in order to make athletes better. At UCLA, making student-athletes better – athletically, academically and most of all, personally – is everything to us. By valuing student-athlete success as a journey, not a destination, we have been able to win more NCAA Championships than any other institution. Because Under Armour not only understands this, but embraces it, we are excited to embark upon this new journey together.”
“With 113 NCAA Championships, UCLA is the most decorated athletic program in history, the benchmark for excellence in performance,” said Kevin Plank, Founder and CEO, Under Armour. “Under Armour’s commitment to growth through innovation and an unwavering mission to make all athletes better aligns seamlessly with UCLA and the pioneering figures that helped build the program, and we look forward to reaching new heights with the Bruins.”
Strengthening its global brand impression, aligning with UCLA’s significant international student pool and impressive roster of athletes from all over the world, Under Armour will continue to expand its West Coast footprint with a commitment to open new retail locations in the greater Los Angeles area – including on LA’s Westside – and offer annual internship opportunities at the brand’s Baltimore-based global headquarters for university students.
Additionally, through this new partnership, UCLA Athletics will continue in its ability to provide apparel allocations for the UCLA Spirit Squad and Bruin Marching Band while enhancing its allocations to campus recreation and their club sports teams.
The Los Angeles Times reports that UCLA will receive $15 million in cash up front and subsequently be paid approximately $11 million annually in rights and marketing fees. Under Armour has agreed to supply about $7.4 million worth of clothing, shoes and equipment each school year and contribute an additional $2 million over the next eight years for upgrades at facilities such as the Morgan Center and the Acosta Athletic Complex.
The deal with begin in January 2017. Adidas and Nike were also said to be involved in the bidding.
UCLA has been outfitted by Adidas since 2009. Its current contract began in July 2011 and was due to expire in June 2017. The school’s previous deal with the company, which was renewed in 2010, was worth $7.5 million per year.
The marketplace has exploded in recent months as Michigan, Texas and Ohio State have signed lucrative agreements with Nike. Nike holds the three largest deals in the country: a 15-year deal with Ohio State worth $252 million, a 15-year deal with the University of Texas worth $250 million and an 11-year deal worth about $169 million with the University of Michigan.
UCLA is Under Armour’s 35th Division I all-school partnership, also including Notre Dame, Auburn and Wisconsin, and third in the Pac-12 Conference, joining the recently announced University of California, Berkeley and the University of Utah. UCLA also joins reigning NFL MVP Cam Newton, two-time NBA MVP Stephen Curry, MLB National League MVP Bryce Harper, NHL MVP Carey Price, PGA Tour Player of the Year Jordan Spieth and one of the most decorated athletes of all-time, Michael Phelps on the Under Armour roster and will be integrated into the brand’s comprehensive story-telling efforts, social media initiatives, retail promotions and grassroots activations.


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According to a report published today by Reuters, Huawei's upcoming Mate 30 series of phones may have to eschew Google's apps as a result of the trade ban imposed by the U.S. government. While the phone should still be able to run Android, given the free and open availability of the software, deeper integration with Google's apps and services like the Play Store and YouTube will be missing if an exemption can't be secured. Read More
Yesterday, it was announced by the US Commerce Department that ZTE had violated terms of its settlement with the government and was being subjected to a seven-year ban of the export of any American goods or technologies for use in its products. Today, according to Reuters, a source familiar with discussions between Google's parent company Alphabet and ZTE says the two are still very much undecided on whether the Chinese smartphone maker will be able to continue using the Android operating system.
Android is an open source piece of software, so it's hard to imagine that any entity - government or otherwise - could realistically prevent ZTE from using it. Read More
Hardware design is a tricky subject. Some companies take risks to define their own aesthetic, while others borrow, in varying degrees, the design languages of more popular brands. What I have in my hands is the latter; the Meizu Pro 6 Plus borrows heavily from Apple's style, especially when viewed from the front. Its software is also an attempt to mimic iOS, for better or for worse.
Overall, however, I find that this phone is the classic story with a twist. The Pro 6 Plus has some actually nice hardware, but the native Flyme OS is a mixed bag. I am not sure if this is a case of Stockholm syndrome or what, but I found that I could tolerate the software for the most part. Read More
The recent rollout of Google Play services v10.2 came with a cool new Instant Tethering feature that automatically enables a small set of devices to sip on a shared cellular signal when they're in need. Aside from a couple of minor tweaks, that appears to be the only major functional change we're supposed to access at this time. However, that doesn't mean there aren't a few other things waiting to be revealed. Fresh additions to the APK reveal new data types coming to the Google Fit API. There's also support baked in for the new FIDO Alliance U2F tokens for secure authentication. Read More
One of the more interesting features shown off at Google I/O last year was Instant Apps, a new way to run Android applications without any installation. For example, during the presentation it was shown how tapping a Buzzfeed video link would play the content in the Buzzfeed app, only downloading the parts required for video playback. Keep in mind that this is different from the streaming apps functionality Google introduced in 2015. Read More
In October of last year, Cody found strings in his teardown of the Play Store 7.1 that hinted at a mysterious "Device Certification" label. Back then, he theorized that it could be an indicator of whether your device was indeed GMS certified and thus supposed to have the Play Store or it could be a SafetyNet check to see if your firmware was modified in any form. The correct answer turned out to be the first one.
Several users have reported the appearance of a "Device certification" menu in the Play Store's settings over the past couple of months, but the option was buggy and not so widespread. Read More
As we close in on the end of the year, Google's developers are lining things up for possible late-2016 launches or preparing to test features they plan to launch next year. With the rollout of Google Play services v10.0, a couple of those things stand out as current projects. There are signs final testing has begun for Instant Apps, Google's way to give users a way to use apps without actually installing them. It also looks like some progress has been made towards enabling Android Pay to work through Android Wear. Read More
If the people in your home get regular use of a Chromecast, you're probably more than aware of just how inconvenient it is when the Casting device isn't handy. Sure, you can always pick up your phone or tablet and track down the Google Home app (formerly named Google Cast), but that takes a lot of taps – and most people don't have it installed or even realize it has player controls. The latest update to Google Play services takes care of this little issue by adding a long overdue and oft-requested feature: it pops up a notification with player controls anytime a Cast session is active. Read More
In an email sent to Google Mobile Services partners on October 5th, Google outlined a significant change to the core GMS package (AKA gapps) for telephony-enabled Android devices (basically, smartphones). As of December 1st, Google will no longer require Hangouts to be bundled with new hardware. An excerpt of that email follows.
Today, we are announcing that Google Duo will replace Hangouts within the suite of core GMS apps, and Hangouts will become GMS Optional for telephony products. This change will take effect on December 1, 2016.
This does not mean Hangouts, or Hangouts for Android, is dead. It does mean that manufacturers may opt to stop including it on smartphones released in 2017, so you'd have to download it from the Play Store after initial setup. Read More
Google dropped the news last week that Nearby was about to get a whole lot more interesting. With the use of Bluetooth and a special blend of tricks collectively known as Location Services, Google will enable Android devices to learn about all manner of things in close proximity, whether they be Eddystone beacons, Chromecasts, or even Android Wear watches waiting to be set up. In the announcement, it was mentioned that an update to Google Play services would be rolling out shortly that adds support for all of these new features, and this is the one. While most of the features have already been disclosed, there's one in the teardown that wasn't mentioned. Read More


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Enterprise Nation - a small business community of over 75,000 people for anyone starting and growing their own company - has announced the national expansion of its successful StartUp Saturday one day workshops, and one of the first will take place in Morecambe.
The aim of the event later this month is to help people turn an idea into a business and become their own boss.
The ‘start your own business in a day’ workshops will be hosted and delivered by talented and entrepreneurial StartUp Saturday franchisees. Until now, the one-day workshop that offers everything you need to know about starting a business has been delivered by Enterprise Nation founder, Emma Jones, in London.
“Based on feedback from small business owners around the country, we are spreading our wings and will be coming to locations nationwide,” says Jones.
The first two StartUp Saturday franchisees are Enterprise Nation community members Rickie Josen (in Birmingham) and Sharon Jackson (in Morecambe).
Sharon Jackson will be starting her franchise journey with a first workshop on Saturday 29th September. Sharon is a freelance web designer working with start-ups and small businesses, and will reach her 4th business birthday in November.
“Being a StartUp Saturday franchisee is very much in line with what I do in my freelance career, which is to help people get their business up and running," says Sharon. "Often this is by helping them get the right website, but much of the time it’s sharing the knowledge I’ve gained over the last few years – the mistakes I made, successes I achieved, and so on.
"I have always liked the ethos of Enterprise Nation and by becoming a franchisee, hope to help even more people successfully become their own boss.”
Following a successful launch of workshops in Morecambe and Birmingham, StartUp Saturday will continue to expand to new locations with a vision of having weekly workshops up and down the UK.
• To book your place for the Morecambe event visit: http://startupsaturdaymorecambe.eventbrite.com/


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New York – The first China “Outdoor Energy Storage Power Conference” ended a month ago. June 25th, Mentech Optical & Magnetic Co., Ltd. released the DN series of our “portable power station” at the 14th Anniversary Celebration and Brand Strategy Upgrade for Mentech Group. Additionally, this marked the start of what people like to call “Brand Strategy Upgrade”, officially entering the portable energy storage 10 billion market.
The release of the DN series portable power station also marks the start of the “Mentech Smart Product” range, the formal formation of the To B to C dual-brand strategy.
“Digitization” and “New Energy Strategy” will drive the new growth.
The past two years have been challenging for the whole industry, people have been affected by the pandemic, chip shortage, price increase of raw materials and power restrictions. The outbreak of the Russia-Ukraine conflict this year has disrupted the world energy supply, bringing new challenges to the industry.
Under the new international and domestic political and economic challenges, as well as general market trends, how can overcome these challenges and how can position people and take advantage of new market trends and opportunities. Mentech already proposed to integrate new resources and build new momentum-based on traditional products but will now also expand to take advantage of the “digitization” and “new energy” markets. The new “Portable Power Supply” product range shows commitment to this new strategy.
The DN series “Portable Power Station” is launched by Shenzhen Daran New Energy Technology Co., Ltd., a subsidiary of Mentech, with lithium iron phosphate batteries, bi-directional fast charging, high power solar charging, high power UPS function, and support multiple units in parallel capability.
Portable energy solutions serve as a segment of the overall energy storage market. This segment began to see real growth from around 2018, with a global market of about $11.1 billion in 2021, up 161.3% year-on-year. Portable energy solutions focus on convenience in outdoor activities and general consumer trends. These solutions being used in areas of transportation, recreational activities, building sites, rescue and disaster relief, power outages, outdoor office, etc. Providing customers with green low-carbon energy solutions.
According to the estimates of Orient Securities, the portable energy storage market is expected to ship 24.7 million units in 2025, with an average compound growth rate of 50% for 21-25 years; the market space reaches 56.3 billion yuan, with an average compound annual growth rate of about 50%.
Science and technology lead change in smart technologies, Mentech will always look to be at the forefront
With the continuous upgrades in smart technologies and the need for remote usage, the consumers requirements for portable power solutions are also increasing, including high power, lightweight, multi-functional and smart capabilities. This is also driving the improvement in power storage technologies.
The strong R&D capability ensures that Mentech can continue to provide the market with high-quality, reliable, and lower-cost products. This has earned the company an excellent reputation and a tier 1 customer base. It is reported that Mentech has invested more than 500 million RMB in R&D in this field, and the significant investment has brought a top-of-the-line product range.
From the get-go, Mentech launched five products from DN200 to DN2000, of which DN2000 has a charge capacity of 2073.6Wh and 648,000mAh.
Mentech also pioneered the parallel capacity technology, fast charging technology, and provide a parallel machine display. Up to 6 machines of the same model can be linked where power and capacity can be doubled. The DN series also have UPS function, 110V/220V automatic switching, smart inverter system (two-way inverter technology), high-power solar charging (300W), automatic frequency switching, etc.
In addition to high-end technology, DN series products are also called “designed to be aesthetically pleasing”, light and compact, simple but elegant design, which is valued by the consumer.
At the recent press conference, Mentech said that with the level of hi-tech innovation and smart manufacturing, it insists on providing competitive and high-quality product solutions based on the customer’s needs, realizing value sharing and taking social responsibility seriously.
Focus on TO B+To C with a diverse product portfolio upgrade
The entrepreneurial journey of Mentech started by the entry of the Internet into the home in the PC era, dial-up Internet access, home broadband, and the 3G-4G era of mobile telecom, each stage and every new application brings new business opportunities.
Mentech has continuously developed along the upstream and downstream of its main business in the past years. Mentech research and develop the technology of semiconductor chips to obtain strategic control points, providing customers with high-quality products and technical solutions in 5G and network data communication, industrial Internet, smart home, and other application scenarios which gives Mentech a competitive strategy in multiple diverse business units. In fact, the product portfolio of Mentech is continuously expanding through breakthroughs in technology and innovation. Recently Mentech was recognized by leading telecommunication suppliers and become the first supplier to achieve mass production of chip-LAN transformers and take over the mass supply of traditional LAN transformers, changing the industry. The automotive magnetic component products have been highly recognized by some well-known automotive customers at home and abroad.
Technology is what drives the development. Mentech always looks at the development of the industry with vision and innovative thinking, and deeply understands that the company and brand values need to be rooted in the development of its products.
Now, with the accumulation of many years of component level technologies and products, Mentech has finally stepped into a consumer product segment. Mentech hopes this will be the first of many smart & green technology products with the consumer in mind.
About the future, Mr. Xianjin Yang, Chairman of Mentech Optical & Magnetic, said that since our IPO, it has been waiting for the opportunity to enter this market segment. This is only the start and probably sends a clear picture on the future direction for Mentech. “On the one hand, the drive for high-quality products has increased market share; On the other hand, Mentech will focus on new market trends. For example, further strengthen capital operation in the upstream and downstream of the main industry, actively invest the high-quality enterprises, improve and stabilize the industrial chain, and help more high-quality enterprises to accelerate the growth as well.”


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Plastic changed the world. In many ways when it was first discovered. It provided cheap and convenient solutions for example to storage. If your home is anything like ours, the kitchen is full of plastic storage containers for food and liquids on. And that’s just the kitchen. It can even be found in shower gels, exfoliants and toothpaste as microbeads. A thousandth of a millimetre in diameter, it is even in the air we breathe and the food we eat. Like Topsy, it just grew and grew. Plastic has invaded our lives to such an extent it is now a major environmental pollutant.
A whole new industry has evolved to address the thorny issue of what to do about plastic. Plastic free alternatives are being invented. Lucy Hughes is one such person. As her final year project she invented a product called Marina Tex. In her home kitchen. From fish scales and skin. Stuff that normally gets either buried as landfill or incinerated. How good is that!
She won the overall James Dyson Award in Sept 2019 for her work, beating designers from 27 other countries to take out the international prize.
British inventor James Dyson, who every year selects the grand prize winner in the international student design competition that bears his name, said that the material had the potential to replace traditional single-use plastics.
MarinaTex bioplastic is strong, translucent and flexible, making it a possible alternative for single-use packaging such as bags and sandwich wrappers.
Unlike current materials used for these purposes, it breaks down in home food-waste or compost bins, and its key ingredients are fish scales and skin — waste products that MarinaTex saves from ending up in landfill.
Be creative – think laterally


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Congolese musician Koffi Olomide has recently been trending on the news and social media for all the wrong reasons. But here are the good news. We now learn that his 16 year old daughter Didi Stone Olomide is a prominent young fashionista in Paris. His stunningly beautiful offspring was featured in Vogue earlier this year, where she talked about her taste in fashion which borrows from both her African roots and Rihanna’s daring style and especially her innovative hair styles, which has attracted a massive following on Instagram.
Away from all the drama surrounding her daddy, we’ve got to admit, her style is truly something!
Photos from @olomidedidi on instagram


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Springer has become the latest publisher to offer ebook bundles to readers through Vancouver's BitLit.
In an announcement made today (7th December), BitLit personnel tell The Bookseller that the new arrangement will add more than 100,000 titles to BitLit's "Shelfie" app.
Some 1,200 publishers now offer some degree of bundling through BitLit, according to the company's statement today. Past reports of such partnerships have included Ingram's Lightning Source; Wiley; Macmillan (US); Elsevier; and HarperCollins.
Publishing partners of BitLit offer ebook editions of previously bought print copies of books through BitLit's "Shelfie" app, which BitLit has made its consumer-facing identity.
Free to download, the Shelfie app "reads" a photo of a bookshelf, parsing the titles on a consumer's book spines and then notifying that reader of available ebook editions. Publishers decide what to charge print-edition owners for their ebooks—some opt to make them free—and they also decide whether to have BitLit provide DRM. One of the most attractive elements of BitLit's Shelfie operation is that publishers who have no record of print-copy purchases in the past can begin to collect data on such readers as they make new requests for ebook editions.
In a prepared statement, BitLit c.e.o. Peter Hudson said that new Springer titles "exponentially increase Shelfie's catalog" with additions to the many technical and professional books offered through BitLit by publishers including O'Reilly Media.
Speaking for Springer, vice-president of e-commerce Tim Moepert is quoted as saying, “As an e-first company, Springer’s goal is to provide quality content and make it easier for readers to find and use what they are looking for."
On Friday (4th December), the opening keynote address at The Bookseller's FutureBook Conference in London was given by Springer Nature's chief scientific officer Annette Thomas. As reported by Benedicte Page, Thomas' comments align with the kind of ready access to digital editions represented by BitLit's Shelfie as a service to consumers.
Thomas said, "Putting the customer at the centre of what we do is not a 'nice to have'—that person drives everything."


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Best case scenario
Inflation cooling but labor market remains healthy.
Inflation has begun to come off the boil over the past several months in response to the Federal Reserve's aggressive increase of the fed funds rate last year. It raised the target range from the zero bound to a range of 4.25-4.5% and started to shrink its boated balance sheet.
- Consumer Price Index (CPI) Nominal retail CPI inflation spiked from 1.4% year over year (y/y) in January 2021 to a 41-year high of 9.1% in June 2022, but it has since fallen to 6.5% in December. Core CPI (which excludes food and energy prices) eased from a 40-year high of 6.6% in September to 5.7% in December.
- Producer Price Inflation (PPI) Nominal wholesale PPI inflation hit a record 11.7% y/y in March 2022 and has slowed to 7.4% in November. Core PPI peaked at a record 9.7% in March and has slowed to 6.3% in November.
- Personal Consumption Expenditures (PCE) Index Nominal PCE inflation hit a 41-year high of 7% y/y in June 2022 and has slowed to 5.5% in November. Core PCE (the Fed’s preferred measure of inflation) peaked at a 39-year high of 5.3% y/y in March and has slowed to 4.7% in November. The Fed’s oft-stated target for this metric is 2%, a level we expect to be achieved over the next two years.
Resilient labor market But as the Fed has doggedly withdrawn accommodation to combat the worst inflation in four decades, the unemployment rate remains at a 53-year low at 3.5%. That’s great news, as the Fed fully expects that its hawkish Phillips Curve trade-off will result in unemployment rising to 4.6% over the course of this year, according to its own summary of economic projections published last month.
What’s a central bank to do? While the Fed downshifted at its last policy-setting meeting in December to a less aggressive half-point rate hike after four consecutive 75-basis point rate hikes (June, July, September, and November), it doesn’t appear it’s done quite yet. Despite this nascent improvement, we believe policymakers want to maintain their inflation-fighting credibility with financial markets. So, we fully expect them to raise rates by another half point at their meeting in February and by a quarter point in March. But if they instead throttle down to a quarter-point hike in February, we expect them to add quarter-point hikes in March and May. Either way, they will have orchestrated a terminal rate in a range of 5-5.25%. We expect the Fed to pause at that level until 2024.
Mission accomplished? But the Fed is clearly willing to pay the price of weaker economic growth and higher unemployment to quell inflation. The growing risk, of course, is that the economy is on a glide path into recession in the next two years. While the labor market remains healthy, other parts of the economy are slowing, such as housing, consumer spending and manufacturing.
Housing recession As mortgage rates have more than doubled from 3% to 7.35% over the past year, the housing market index has plummeted from a peak of 90 in November 2020 to a two-and-a-half year low of 31 in December 2022. A collapse of that sheer magnitude is typically associated with a recession. Pending home sales have fallen in 17 of the past 18 months, and existing home sales (which account for 86% of the total housing market) have declined for 10 consecutive months through November.
Santa's bag half the size In October and November, the first two months of the critically important four-month (October through January) holiday shopping season, Christmas spending rose a combined 7.5% y/y. That’s less than half the robust 16.4% y/y growth during Christmas 2021, although still above the average 4.2% y/y growth in holiday sales over the previous 10 years (within a range of 2.2% to 6.6%). But it is in line with the 6-8% sales growth projected by the National Retail Federation during November and December, and the 4-6% sales growth the accounting firm Deloitte forecast for the full period of November through January.
Manufacturing slows The ISM manufacturing index plummeted from a 38-year high of 63.7 in March 2021 to a two-and-a-half year low of 48.4 in December 2022. We’re in economic contraction territory, and we’re inching closer to a recession reading of 45. All six of the regional Fed manufacturing indexes we monitor have fallen back to 2-year lows over the past 18 months.
Confidence mixed Consumer confidence (Michigan Sentiment and the Conference Board) has perked over the past two months due to lower inflation, but business confidence (NFIB small business optimism index) surprisingly plunged in December due to recession worries and declining corporate profits.
Leading Economic Indicators have now declined nine months in a row and a dozen times over the past 13 months, dragging the Conference Board Composite Index down to a 19-month low. Combined with a current 73-basis point 2/10 yield-curve inversion, it suggests an elevated risk of recession.
Adjusting our GDP estimates The equity, fixed-income and liquidity investment professionals who comprise Federated Hermes’ macroeconomic policy committee met on Friday to discuss the cooling of inflation and the trajectory of the Fed’s response:
- The Commerce Department recently revised third quarter GDP growth from 2.9% to 3.2%; the second quarter’s growth rate was -0.6%.
- The Fed added another 75-basis point rate hike in November and a half-point increase in December. While it appears Christmas spending slowed to half of last year’s strong season, the pace was healthy. Fourth quarter 2022 GDP will be flashed January 26, and we raised our estimate from 1.2% to 2.3%; Blue Chip consensus raised its from 0.4% to 1.7% (in a range of 0.3% to 2.8%); the Atlanta Fed’s GDPNow tracker fell from 4.3% to 4.1%; and the Bloomberg consensus is 3.5%.
- We raised our full-year 2022 GDP projection from 1.9% to 2%; Blue Chip increased its from 1.8% to 1.9% (within a range of 1.6% to 2%).
- Core CPI inflation finished 2022 at 5.7% (it hit a 40-year high of 6.6% in September 2022). We reduced our full-year 2022 forecast for core PCE inflation from 5% to 4.7% (it reached a 39-year high of 5.3% in March 2022).
- We increased our first quarter 2023 GDP estimate from 0.2% to 0.5%; Blue Chip consensus raised its from -0.6% to -0.5% (within a range of -2.2% to 1.1%).
- We revised our second quarter 2023 GDP projection up a tick from -0.4% to -0.3%; Blue Chip reduced its from -0.3% to -0.9% (within a range of -2.5% to 1%).
- Our third quarter 2023 GDP estimate is unchanged at -1.2%; Blue Chip lowered its from 0.4% to 0% (within a range of -2.1% to 1.9%).
- We raised our fourth quarter of 2023 GDP forecast from -1.2% to -0.9%; Blue Chip’s was unchanged at 0.9% (within a range of -1.1% to 2.3%).
- These adjustments raised our full-year 2023 GDP estimate from 0.1% to 0.6%; Blue Chip raised its from 0.2% to 0.5% (within a range of -0.3% to 1.5%).
- We reduced our full-year 2023 forecast for core CPI inflation from 3.9% to 3.7% and for core PCE inflation from 3.4% to 3.3%.


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Apple announced its apps of the year on Thursday.
The picks include two puzzle games and a meditation app.
These choices are based at least in part on the merits of the apps, rather than exclusively on downloads.
Meditation, photo editing and puzzles were the themes of the best apps of the year, as determined by Apple employees.
The company on Thursday released its year-end list of top US apps for iPhones and iPads.
Pre-order an app and have it download automatically when it becomes available.
CALIFORNIA - Apple has launched a new feature for the App Store, giving you the ability to pre-order apps and have them automatically download upon their release. Also Read: WATCH: Apple is set to buy Shazam A developer will now be ...
Apple has made it possible for people to pre-order applications. Technically, the power is being given to developers, who can publish product pages and accept orders ahead of the app's release. Once the app is ready for download, cu...
Apple agreed with iLounge’s pick for the Best Apple Watch App of 2015, naming weather app Dark Sky its choice for Apple Watch App of the Year. Apple Watch Game of the Year went to Rules!, a fast-paced puzzle game which is a smaller ...


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Pickle Sickles are frozen pops made from pure pickle juice that creator John Howard started making in 2007 at the roller rink he owned.
When skating kiddies couldnt get enough of the sour treats, he moved his business online, where he now sells around 20,000 a month.
Howard says, Theyve become a weird phenomenon. Picklemania is spreading like wildfire.
Theres a real purpose behind the tasty treat.
Howard cites a recent study done at Arizona State University which shows that the pickle pops can help curve a blood-sugar spike by 30 percent when eaten with a meal, which can be life- saving to people battling diabetes.
But there are still skeptics.
He says, Pickles are extremely popular in Texas. You can go into any convenience store and find a jar of pickles. But many people wont try a pickle popsicle. I suppose if you dont like regular pickles though, you wont like Pickle Sickles.
(Contact numbers available only to subscribing media or trial media users. You can request samples at the Wireless Flash web site.)
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