Apple buys a company every few weeks, says CEO Tim Cook

Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC. In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend. Apple turned Beats into its Apple Music streaming service


Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC. In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend. Apple turned Beats into its Apple Music streaming service
Apple buys a company every few weeks, says CEO Tim Cook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: lauren feiner
Keywords: news, cnbc, companies, ceo, making, buys, cook, acquisitions, tim, told, weeks, companies, beats, service, apple, billion, company


Apple buys a company every few weeks, says CEO Tim Cook

Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC.

In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn’t announce these deals because the companies are small and Apple is “primarily looking for talent and intellectual property,” Cook told CNBC’s Becky Quick in an interview from Berkshire Hathaway’s annual shareholder meeting over the weekend.

The aggressive acquisition style highlights Apple’s massive purchasing power. In its fiscal second-quarter earnings statement, Apple reported a $225.4 billion cash hoard, making it one of the most cash-rich companies in the world. Apple has pledged to contribute $350 billion to the U.S. over five years through expansion and taxes on repatriated cash.

Cook said that after investing in initiatives like its new $1 billion campus in Austin, Texas, the company turns its attention and spending to other goals.

“If we have money left over, we look to see what else we [can] do,” Cook said. “We acquire everything that we need that can fit and has a strategic purpose to it. And so we acquire a company on average, every two to three weeks.”

This strategy shines through in some of Apple’s more high-profile acquisitions. Its 2018 acquisition of digital magazine subscription service Texture, for example, was a prelude to its new Apple News+ service that offers access to a variety of publications for a flat fee.

Even though Apple acquires several companies a year, it’s famous for not making major acquisitions. Its largest in recent memory was its $3 billion purchase of Beats in 2014. Apple turned Beats into its Apple Music streaming service and continues to sell Beats headphones as part of its growing wearables category.

Apple has also reportedly mulled other major acquisitions, including Time Warner in 2016, according to a Wall Street Journal report at the time. Some have called on Apple to use its cash pile to make large acquisitions of companies like Tesla or Netlfix.

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Watch: Buffett: I’m ‘wildly’ in favor of Apple repurchasing shares


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: lauren feiner
Keywords: news, cnbc, companies, ceo, making, buys, cook, acquisitions, tim, told, weeks, companies, beats, service, apple, billion, company


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Apple’s services revenue beats expectations

Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet. Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter. Apple’s stock was up more than 5% in after hours trading.


Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet. Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter. Apple’s stock was up more than 5% in after hours trading.
Apple’s services revenue beats expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, reported, quarter, revenue, shift, apples, billion, services, topped, expectations, stock, beats, unit, trading


Apple's services revenue beats expectations

Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet.

Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter.

Apple’s stock was up more than 5% in after hours trading.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, reported, quarter, revenue, shift, apples, billion, services, topped, expectations, stock, beats, unit, trading


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Apple’s services revenue beats expectations

Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet. Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter. Apple’s stock was up more than 5% in after hours trading.


Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet. Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter. Apple’s stock was up more than 5% in after hours trading.
Apple’s services revenue beats expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, topped, revenue, shift, trading, beats, billion, services, reported, stock, expectations, unit, quarter, apples


Apple's services revenue beats expectations

Apple reported $11.45 billion in services revenue for its second quarter of 2019 as it continues its quest to shift the narrative around its business away from iPhone unit sales. That topped analysts’ expectations of $11.37 billion, according to FactSet.

Apple also reported services margins of 63.8% for the quarter. Services now accounts for about 20% of Apple’s revenue, up from 16% a year earlier and 13% in the first quarter.

Apple’s stock was up more than 5% in after hours trading.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, topped, revenue, shift, trading, beats, billion, services, reported, stock, expectations, unit, quarter, apples


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Melinda Gates: Capitalism needs work, but it beats socialism and the US is ‘lucky’ to have it

Capitalism vs. socialism? “What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.” Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Without mentioning the political debate, Gates


Capitalism vs. socialism? “What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.” Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Without mentioning the political debate, Gates
Melinda Gates: Capitalism needs work, but it beats socialism and the US is ‘lucky’ to have it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger
Keywords: news, cnbc, companies, needs, melinda, say, society, socialism, capitalism, beats, capitalistic, gates, work, lucky, system, need, think, live


Melinda Gates: Capitalism needs work, but it beats socialism and the US is 'lucky' to have it

Capitalism vs. socialism? For Melinda Gates, the choice is simple.

“What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.”

Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Several Democratic lawmakers and presidential candidates have called for sweeping changes to a system they say is responsible for growing inequality and division within the country. President Donald Trump has accused them of embracing socialism, which he says would lead to economic ruin in the U.S.

Without mentioning the political debate, Gates, who co-chairs the Bill and Melinda Gates Foundation along with her husband, Microsoft co-founder Bill Gates, defended the U.S. system. Yet she also acknowledged the need to address the gaps between the rich and the poor.

Gates also said U.S. residents are “lucky,” and that people living in developing countries “want to live in these types of capitalistic societies.”

Several American billionaires have argued that the modern version of capitalism isn’t working. Wealthy business leaders such as Warren Buffett, Jamie Dimon, Ray Dalio and Bill Gates have called for fixes to widening economic inequality and the lack of public education funding. Some are advocating for public-private partnerships and higher taxes on the wealthy to address widespread income inequality.

These business leaders have also condemned arguments for socialism. Dimon, CEO of J.P. Morgan, told shareholders this month that socialism “inevitably produces stagnation, corruption and often worse,” but acknowledged there are flaws with capitalism and that it should be combined with a strong social safety net.

In her CNBC interview, Gates called for proper government regulation and a solid tax system to address capitalism’s gaps.

“I think we all do better as a globe when countries can grow from low, to middle income, to high income,” she said. “And so I think we need to look at our system and say, ‘OK, what are the great things about it? And what are the things that, at this point in time, we need to adjust and change?'”

Despite these issues, she said, American capitalism is the envy of much of the world.

“When I go to places like Malawi or Tanzania or Senegal, they say they all want to live in America,” Gates said. “We are lucky to live here. They want to live in these types of capitalistic societies. And we just need to tune it and get it right.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger
Keywords: news, cnbc, companies, needs, melinda, say, society, socialism, capitalism, beats, capitalistic, gates, work, lucky, system, need, think, live


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Twitter beats on earnings, reports 134 million monetizable daily users


Twitter beats on earnings, reports 134 million monetizable daily users Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: joshua roberts
Keywords: news, cnbc, companies, users, reports, monetizable, million, twitter, daily, 134, beats, earnings


Twitter beats on earnings, reports 134 million monetizable daily users


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: joshua roberts
Keywords: news, cnbc, companies, users, reports, monetizable, million, twitter, daily, 134, beats, earnings


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Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.
Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


Twitter beats analysts' earnings–Here's what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

16 Hours Ago

Twitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


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EU beats Google to the punch in setting strategy for ethical A.I.

Less than one week after Google scrapped its AI ethics council, the European Union has set out its own guidelines for achieving “trustworthy” artificial intelligence. “The ethical dimension of AI is not a luxury feature or an add-on,” said Andrus Ansip, EU vice-president for the digital single market, in a press release Monday. The EU defines artificial intelligence as systems that show “intelligent behavior,” allowing them to analyze their environment and perform tasks with some degree of auton


Less than one week after Google scrapped its AI ethics council, the European Union has set out its own guidelines for achieving “trustworthy” artificial intelligence. “The ethical dimension of AI is not a luxury feature or an add-on,” said Andrus Ansip, EU vice-president for the digital single market, in a press release Monday. The EU defines artificial intelligence as systems that show “intelligent behavior,” allowing them to analyze their environment and perform tasks with some degree of auton
EU beats Google to the punch in setting strategy for ethical A.I. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: elizabeth schulze, krisztian bocsi, bloomberg, getty images, sopa images, contributor
Keywords: news, cnbc, companies, google, strategy, intelligence, ethics, tasks, wrong, european, beats, set, artificial, eu, setting, ai, punch, ethical


EU beats Google to the punch in setting strategy for ethical A.I.

Less than one week after Google scrapped its AI ethics council, the European Union has set out its own guidelines for achieving “trustworthy” artificial intelligence.

On Monday, the European Commission released a set of steps to maintain ethics in artificial intelligence, as companies and governments weigh both the benefits and risks of the far-reaching technology.

“The ethical dimension of AI is not a luxury feature or an add-on,” said Andrus Ansip, EU vice-president for the digital single market, in a press release Monday. “It is only with trust that our society can fully benefit from technologies.”

The EU defines artificial intelligence as systems that show “intelligent behavior,” allowing them to analyze their environment and perform tasks with some degree of autonomy. AI is already transforming businesses in a variety of functions, like automating repetitive tasks and analyzing troves of data. But the technology raises a series of ethical questions, such as how to ensure algorithms are programmed without bias and how to hold AI accountable if something goes wrong.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: elizabeth schulze, krisztian bocsi, bloomberg, getty images, sopa images, contributor
Keywords: news, cnbc, companies, google, strategy, intelligence, ethics, tasks, wrong, european, beats, set, artificial, eu, setting, ai, punch, ethical


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H&M beats profit forecasts after it curbs discount

Swedish fashion retailer H&M reported a smaller than expected fall in first-quarter pretax profit on Friday as it sold more products at full price and saw an improvement in margins. Pretax profit fell for the seventh straight quarter over December-February to 1.04 billion Swedish crowns ($112 million) from 1.26 billion a year ago. The retailer said that this month, from March 1-27, net sales rose by 7 percent in local currencies, exceeding 4 percent growth in the first quarter. H&M said its gros


Swedish fashion retailer H&M reported a smaller than expected fall in first-quarter pretax profit on Friday as it sold more products at full price and saw an improvement in margins. Pretax profit fell for the seventh straight quarter over December-February to 1.04 billion Swedish crowns ($112 million) from 1.26 billion a year ago. The retailer said that this month, from March 1-27, net sales rose by 7 percent in local currencies, exceeding 4 percent growth in the first quarter. H&M said its gros
H&M beats profit forecasts after it curbs discount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29
Keywords: news, cnbc, companies, retailer, forecasts, results, hm, fall, discount, curbs, expected, sales, beats, quarter, relation, stores, swedish, profit


H&M beats profit forecasts after it curbs discount

Swedish fashion retailer H&M reported a smaller than expected fall in first-quarter pretax profit on Friday as it sold more products at full price and saw an improvement in margins.

Shares in the world’s biggest apparel retailer after Zara-owner Inditex umped 13 percent after its results, to 160 Swedish crowns by 0809 GMT, as it said markdowns would continue to fall in the current quarter.

The company has seen profits shrink and stocks pile up in recent years due to slowing footfall at its core-brand stores and as it has not been fast enough to react to demand swings.

Pretax profit fell for the seventh straight quarter over December-February to 1.04 billion Swedish crowns ($112 million) from 1.26 billion a year ago. But it was well ahead of the 708 million forecast in a Reuters poll of analysts.

The retailer said that this month, from March 1-27, net sales rose by 7 percent in local currencies, exceeding 4 percent growth in the first quarter.

H&M’s heavy investment in logistics and the integration of stores and online to weather mounting competition and pressure from digitalisation of the sector, as well as a review of its stores and brands to get back on track, have been squeezing margins.

“Our ongoing transformation work has contributed to stronger collections with increased full-price sales, lower markdowns and increased market shares,” CEO Karl-Johan Persson said, after the results indicated that H&M’s turnaround plans were beginning to bear fruit.

RBC analysts said they expected consensus earnings upgrades of 5 to 10 percent.

H&M said its gross margin inched up to 50.0 percent in its first quarter, from 49.9 percent a year ago, defying forecasts for a fall to 49.4 percent.

Markdowns in relation to sales decreased by around 1.5 percentage points in the first quarter from a year earlier and the retailer said it expected them to continue to decrease in relation to sales in the second quarter.

“Supportive current trading and ongoing markdown improvements (are) likely to put shorts on the back foot,” Jefferies analysts wrote in a client note.


Company: cnbc, Activity: cnbc, Date: 2019-03-29
Keywords: news, cnbc, companies, retailer, forecasts, results, hm, fall, discount, curbs, expected, sales, beats, quarter, relation, stores, swedish, profit


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Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend

“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital


“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital
Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


Generali beats 2018 targets despite 'challenging' Italian market, raises dividend

Europe’s third-largest insurer said it would pay a dividend of 0.90 euros per share, up from the previous year’s 0.85 euros.

When it came to a potential European slowdown in 2019, however, Donnet said Generali was not concerned. He explained that people sought out the solutions Generali provided whether the economy was booming or lagging.

“Our business is very resilient, because when people do invest and the economy is growing, the property and casualty business is growing,” he said. “But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.”

However he noted heavy competition in its domestic market, especially with motor insurance, adding that it was “challenging.”

“In Italy and France, by the way, we had to face very important claims … which obviously had a significant impact on the operating result,” he added.

Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors.

“(Investors) do not struggle any more on this — we have demonstrated that we have a strong capital position. We have further increased our solvency ratio by 9 percentage points, so our exposure to BTPs is no longer an issue,” he told CNBC.

Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia.

Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. The headline has also been changed on this story to more accurately reflect Generali’s earnings release.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


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LeBron James beats Michael Jordan’s NBA points but short on net worth

LeBron James passed basketball legend Michael Jordan to move into fourth place on the NBA career points-scoring list on Wednesday night. James personal achievement of 31 points for the Lakers’ on Wednesday wasn’t enough to prevent a 115-99 loss to the Denver Nuggets, but was more than consoled by bettering Jordan’s career points total of 32,292 points. “(I) wanted to be like MJ, wanted to shoot fadeaways like MJ, wanted to stick my tongue out on dunks like MJ, wanted to wear my sneakers like MJ.


LeBron James passed basketball legend Michael Jordan to move into fourth place on the NBA career points-scoring list on Wednesday night. James personal achievement of 31 points for the Lakers’ on Wednesday wasn’t enough to prevent a 115-99 loss to the Denver Nuggets, but was more than consoled by bettering Jordan’s career points total of 32,292 points. “(I) wanted to be like MJ, wanted to shoot fadeaways like MJ, wanted to stick my tongue out on dunks like MJ, wanted to wear my sneakers like MJ.
LeBron James beats Michael Jordan’s NBA points but short on net worth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: adam reed, gary a vasquez, usa today sports, vince bucci, afp, getty images, anthony devlin, catherine steenkeste, andrew toth, filmmagic
Keywords: news, cnbc, companies, beats, mj, look, points, net, michael, lebron, total, nba, wanted, jordans, career, worth, needed, short, james


LeBron James beats Michael Jordan's NBA points but short on net worth

LeBron James passed basketball legend Michael Jordan to move into fourth place on the NBA career points-scoring list on Wednesday night.

His teammates congratulated him, a tribute video played, and at the next timeout James sat emotional and alone on the bench with his face covered by a towel.

“I don’t know, man, a lot of the stuff I’ve done in my career, this ranks right at the top,” the 34-year-old said after the game. “For a kid from Akron, Ohio, that needed inspiration, needed some type of positive influence, MJ was that guy for me.”

James personal achievement of 31 points for the Lakers’ on Wednesday wasn’t enough to prevent a 115-99 loss to the Denver Nuggets, but was more than consoled by bettering Jordan’s career points total of 32,292 points.

“(I) wanted to be like MJ, wanted to shoot fadeaways like MJ, wanted to stick my tongue out on dunks like MJ, wanted to wear my sneakers like MJ. I wanted kids to look up to me at some point like MJ,” said James after the game.

“It’s crazy, to be honest. It’s beyond crazy.”

According to Forbes at the end of 2018, James has a total net worth of $450 million, which is still some way short of Michael Jordan’s total net value of almost $2 billion, although some estimates put both men’s figure even higher.

CNBC takes a look at how the dollars stack up.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: adam reed, gary a vasquez, usa today sports, vince bucci, afp, getty images, anthony devlin, catherine steenkeste, andrew toth, filmmagic
Keywords: news, cnbc, companies, beats, mj, look, points, net, michael, lebron, total, nba, wanted, jordans, career, worth, needed, short, james


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