Lightspeed’s Liew on his new e-commerce venture and Facebook’s crypto roll out

Lightspeed’s Liew on his new e-commerce venture and Facebook’s crypto roll out10 Hours AgoJeremy Liew, Lightspeed Venture partner and an early Snap investor, and Imran Khan, co-founder and CEO of Verishop and former chief strategy officer at Snapchat, join “Squawk Box” to discuss the latest in the tech sector including their new joint e-commerce venture and Facebook’s new crypto currency.


Lightspeed’s Liew on his new e-commerce venture and Facebook’s crypto roll out10 Hours AgoJeremy Liew, Lightspeed Venture partner and an early Snap investor, and Imran Khan, co-founder and CEO of Verishop and former chief strategy officer at Snapchat, join “Squawk Box” to discuss the latest in the tech sector including their new joint e-commerce venture and Facebook’s new crypto currency.
Lightspeed’s Liew on his new e-commerce venture and Facebook’s crypto roll out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: source, lightspeed venture partners
Keywords: news, cnbc, companies, lightspeeds, roll, ecommerce, verishop, squawk, venture, tech, snapchat, crypto, strategy, facebooks, liew


Lightspeed's Liew on his new e-commerce venture and Facebook's crypto roll out

Lightspeed’s Liew on his new e-commerce venture and Facebook’s crypto roll out

10 Hours Ago

Jeremy Liew, Lightspeed Venture partner and an early Snap investor, and Imran Khan, co-founder and CEO of Verishop and former chief strategy officer at Snapchat, join “Squawk Box” to discuss the latest in the tech sector including their new joint e-commerce venture and Facebook’s new crypto currency.


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: source, lightspeed venture partners
Keywords: news, cnbc, companies, lightspeeds, roll, ecommerce, verishop, squawk, venture, tech, snapchat, crypto, strategy, facebooks, liew


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Huawei asks Verizon to pay more than $1 billion for over 230 patents: Source

Verizon should pay to “solve the patent licensing issue,” a Huawei intellectual property licensing executive wrote in February, The Wall Street Journal reported earlier. The licensing fees for the more than 230 patents sought is more than $1 billion, the person said. National security experts worry that “back doors” in routers, switches and other Huawei equipment could allow China to spy on U.S. communications. Companies involved, including Verizon have notified the U.S. government and the dispu


Verizon should pay to “solve the patent licensing issue,” a Huawei intellectual property licensing executive wrote in February, The Wall Street Journal reported earlier. The licensing fees for the more than 230 patents sought is more than $1 billion, the person said. National security experts worry that “back doors” in routers, switches and other Huawei equipment could allow China to spy on U.S. communications. Companies involved, including Verizon have notified the U.S. government and the dispu
Huawei asks Verizon to pay more than $1 billion for over 230 patents: Source Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: eustance huang
Keywords: news, cnbc, companies, united, person, issue, pay, billion, states, patents, 230, asks, source, licensing, equipment, china, huawei, verizon


Huawei asks Verizon to pay more than $1 billion for over 230 patents: Source

In this photo illustration, the Huawei logo and Chinese flag is seen displayed on an Android mobile phone.

Huawei Technologies has told Verizon Communications that the U.S. carrier should pay licensing fees for more than 230 of the Chinese telecoms equipment maker’s patents and in aggregate is seeking more than $1 billion, a person briefed on the matter said on Wednesday.

Verizon should pay to “solve the patent licensing issue,” a Huawei intellectual property licensing executive wrote in February, The Wall Street Journal reported earlier. The patents cover network equipment for more than 20 of the company’s vendors including major U.S. tech firms but those vendors would indemnify Verizon, the person said. Some of those firms have been approached directly by Huawei, the person said.

The patents in question range from core network equipment, wireline infrastructure to internet-of-things technology, the Journal reported. The licensing fees for the more than 230 patents sought is more than $1 billion, the person said.

Huawei has been battling the U.S. government for more than a year. National security experts worry that “back doors” in routers, switches and other Huawei equipment could allow China to spy on U.S. communications. Huawei has denied that it would help China spy.

Companies involved, including Verizon have notified the U.S. government and the dispute comes amid a growing feud between China and the United States. The licensing fee demand may be more about the geopolitical battle between China and the United States rather than a demand for patent fees.

Huawei and Verizon representatives met in New York last week to discuss some of the patents at issue and whether Verizon is using equipment from other companies that could infringe on Huawei patents.

Verizon spokesman Rich Young declined to comment “regarding this specific issue because it’s a potential legal matter.”

However, Young said, “These issues are larger than just Verizon. Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise national and international concerns.”

Huawei and U.S. wireless carriers T-Mobile US and AT&T did not respond to Reuters’ requests for comment. Sprint declined to comment.

The United States last month put Huawei on a blacklist that barred it from doing business with U.S. companies on security grounds without government approval, prompting some global tech firms to cut ties with the world’s largest telecoms equipment maker.

Washington is also seeking the extradition of Huawei Chief Financial Executive Meng Wanzhou from Canada after her arrest in Vancouver last December on a U.S. warrant.

China has since upped the pressure on Canada, halting Canadian canola imports and in May suspended the permits of two major pork producers.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: eustance huang
Keywords: news, cnbc, companies, united, person, issue, pay, billion, states, patents, 230, asks, source, licensing, equipment, china, huawei, verizon


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Mnuchin and Lighthizer opposed Trump tariffs on Mexico, source says

President Donald Trump’s Treasury secretary and top trade advisor opposed his surprise plan to impose new tariffs on Mexican imports, according to a source close to the White House who said the idea was pushed by immigration hawk Stephen Miller. The announcement came as Trump was “riled up” by conservative radio commentary about the recent surge in border crossings, according to the source. Miller’s role was confirmed by the source close to the White House and a person briefed on the matter. A W


President Donald Trump’s Treasury secretary and top trade advisor opposed his surprise plan to impose new tariffs on Mexican imports, according to a source close to the White House who said the idea was pushed by immigration hawk Stephen Miller. The announcement came as Trump was “riled up” by conservative radio commentary about the recent surge in border crossings, according to the source. Miller’s role was confirmed by the source close to the White House and a person briefed on the matter. A W
Mnuchin and Lighthizer opposed Trump tariffs on Mexico, source says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: kayla tausche tucker higgins, kayla tausche, tucker higgins
Keywords: news, cnbc, companies, opposed, source, mexico, lighthizer, white, according, tariffs, economic, trump, trade, told, mnuchin, treasury, trumps, house, president


Mnuchin and Lighthizer opposed Trump tariffs on Mexico, source says

President Donald Trump’s Treasury secretary and top trade advisor opposed his surprise plan to impose new tariffs on Mexican imports, according to a source close to the White House who said the idea was pushed by immigration hawk Stephen Miller.

The announcement came as Trump was “riled up” by conservative radio commentary about the recent surge in border crossings, according to the source.

Trump made the announcement Thursday night on Twitter. He said he will impose 5% tariffs on all Mexican imports starting June 10 and escalate them to 25% “until such time as illegal migrants coming through Mexico, and into our Country, STOP.”

Anticipation that the tariffs combined with an escalating U.S.-China trade war could cool global growth sent equities sharply lower Friday, with the major U.S. indexes off by 1% in afternoon trading.

The opposition by Treasury Secretary Steve Mnuchin and U.S. Trade Representative Robert Lighthizer marked a rare moment of unity from two top administration officials with starkly different economic ideologies.

Miller’s role was confirmed by the source close to the White House and a person briefed on the matter.

Trump’s move was announced as the administration’s most prominent free-trade advocates — including economic aide Larry Kudlow and Vice President Mike Pence — were not around to argue against it. Pence was in Canada on Thursday. Kudlow, a former CNBC contributor, was undergoing surgery for a hip replacement, according to three sources.

Lighthizer’s opposition to the tariffs was earlier reported by The Wall Street Journal.

“Lighthizer is not happy,” an unnamed administration official told the paper.

A White House spokesperson did not respond to a request for comment. Jeff Emerson, a USTR spokesperson, said Lighthizer supports Trump’s strategy.

Peter Navarro, a White House economic advisor, told CNBC earlier Friday that Trump’s threat of new tariffs came in response to Mexico’s “export” of “illegal aliens.”

“Look at what we are trying to do. This is actually a brilliant move by the president to get Mexico’s attention, to get them to help us, because so far they have just been standing by,” Navarro said.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: kayla tausche tucker higgins, kayla tausche, tucker higgins
Keywords: news, cnbc, companies, opposed, source, mexico, lighthizer, white, according, tariffs, economic, trump, trade, told, mnuchin, treasury, trumps, house, president


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Ferrari goes electric with its most powerful street-legal car ever: the SF90 Stradale

Ferrari SF90 Stradale Source: FerrariFerrari just launched Its most powerful street-legal car ever — a 986 horsepower road bullet with three electric motors. The “SF90 Stradale” name comes from the automaker’s 2019 Formula One race car, the SF90 in honor of Ferrari’s 90 years in racing. Ferrari SF90 Stradale Source: FerrariIt’s fast but don’t count on driving too far in battery-only mode since the all-electric range is only 16 miles. Ferrari SF90 Stradale Source: FerrariThe big question Ferrari


Ferrari SF90 Stradale Source: FerrariFerrari just launched Its most powerful street-legal car ever — a 986 horsepower road bullet with three electric motors. The “SF90 Stradale” name comes from the automaker’s 2019 Formula One race car, the SF90 in honor of Ferrari’s 90 years in racing. Ferrari SF90 Stradale Source: FerrariIt’s fast but don’t count on driving too far in battery-only mode since the all-electric range is only 16 miles. Ferrari SF90 Stradale Source: FerrariThe big question Ferrari
Ferrari goes electric with its most powerful street-legal car ever: the SF90 Stradale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: robert frank
Keywords: news, cnbc, companies, horsepower, sf90, source, stradale, goes, hybrid, system, streetlegal, electric, motors, car, ferrari, powerful, ferraris


Ferrari goes electric with its most powerful street-legal car ever: the SF90 Stradale

Ferrari SF90 Stradale Source: Ferrari

Ferrari just launched Its most powerful street-legal car ever — a 986 horsepower road bullet with three electric motors. The SF90 Stradale marks Ferrari’s first plug-in hybrid that’s not built for the racetrack. It’s powered by a 4.0-liter turbocharged V8 that generates 769 horsepower, but gets another 217 horsepower from three electric motors — one powering the rear wheels and two for the front.

All that extra juice helps the car do zero-to 62 mph in a mere 2.5 seconds and reach a top speed of 211 mph. It’s not exactly the first plug-in Ferrari, famed for its thunderous V12 internal-combustion engines. The $1.5 million La Ferrari supercar, only 500 of which were produced, used electric motors to give a little boost to its V12 and push it to 950 horsepower. Ferrari’s Formula One racers also use a hybrid motor-generator system. The “SF90 Stradale” name comes from the automaker’s 2019 Formula One race car, the SF90 in honor of Ferrari’s 90 years in racing. The word “stradale” means “road” in Italian.

Ferrari SF90 Stradale Source: Ferrari

It’s fast but don’t count on driving too far in battery-only mode since the all-electric range is only 16 miles. But Ferrari’s engineers had to solve some complex problems by adding a hybrid system, which added an additional 595 pounds. Ferrari shaved off some of those pounds with carbon fiber but also came up with some clever innovations. By using the hybrid system for reverse, Ferrari was able to take out the reverse gear from the eight-speed gearbox, which saves weight. It’s also all-wheel drive, to better utilize the hybrid system. And the two front electric motors also control the torque, making driving at high speeds “much simpler and easier,” according to Ferrari. Ferrari also had to work on new aerodynamics to create more downforce and efficiencies. So it lowered the engine cover and created new diffuser and front-end systems.

Ferrari SF90 Stradale Source: Ferrari

The big question Ferrari has yet to answer is price. Ferrari dealers say it will be less than the La Ferrari but likely more than Ferrari’s previous V8 mid-engine, the $350,000 488 GTB, which was recently replaced by the F8 Tributo. Either way one thing is certain: the waiting list for the SF90 Stradale will be long. Deliveries are expected to start in the beginning of 2020.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: robert frank
Keywords: news, cnbc, companies, horsepower, sf90, source, stradale, goes, hybrid, system, streetlegal, electric, motors, car, ferrari, powerful, ferraris


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These Americans fled the country to escape their giant student debt

Chadd Haag said he left the United States to escape his student debt. Outstanding student debt in the U.S. has tripled over the last decade and is projected to swell to $2 trillion by 2022. Source: Chris HaagMoving to another country to escape student debt is risky, experts say. There are more reasonable ways of dealing with student debt, said Nassirian, at the American Association of State Colleges and Universities. But the fact that people are taking this drastic measure should bring scrutiny


Chadd Haag said he left the United States to escape his student debt. Outstanding student debt in the U.S. has tripled over the last decade and is projected to swell to $2 trillion by 2022. Source: Chris HaagMoving to another country to escape student debt is risky, experts say. There are more reasonable ways of dealing with student debt, said Nassirian, at the American Association of State Colleges and Universities. But the fact that people are taking this drastic measure should bring scrutiny
These Americans fled the country to escape their giant student debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-25  Authors: annie nova
Keywords: news, cnbc, companies, country, united, escape, living, haag, debt, source, giant, couldnt, americans, loan, fled, states, student, albright


These Americans fled the country to escape their giant student debt

Chadd Haag said he left the United States to escape his student debt. Now he lives in India. Source: Chadd Haag

Chad Haag considered living in a cave to escape his student debt. He had a friend doing it. But after some plotting, he settled on what he considered a less risky plan. This year, he relocated to a jungle in India. “I’ve put America behind me,” Haag, 29, said. Today he lives in a concrete house in the village of Uchakkada for $50 a month. His backyard is filled with coconut trees and chickens. “I saw four elephants just yesterday,” he said, adding that he hopes never to set foot in a Walmart again. More than 9,000 miles away from Colorado, Haag said, his student loans don’t feel real anymore. “It’s kind of like, if a tree falls in the woods and no one hears it, does it really exist?” he said.

Some student loan borrowers are packing their bags and fleeing from the U.S. to other countries, where the cost of living is often lower and debt collectors wield less power over them. Although there is no national data on how many people have left the United States because of student debt, borrowers tell their stories of doing so in Facebook groups and Reddit channels and how-to advice is offered on personal finance websites. “It may be an issue we see an uptick in if the trends keep up,” said Barmak Nassirian, director of federal relations at the American Association of State Colleges and Universities. Outstanding student debt in the U.S. has tripled over the last decade and is projected to swell to $2 trillion by 2022. Average debt at graduation is currently around $30,000, up from an inflation-adjusted $16,000 in the early 1990s. Meanwhile, salaries for new bachelor degree recipients, also accounting for inflation, have remained almost flat over the last few decades.

Chad Haag at 1 years old. He grew up in Colorado. Source: Chad Haag

Haag’s student loan balance of around $20,000 isn’t as large as the burden shouldered by many other borrowers, but, he said, his difficultly finding a college-level job in the U.S. has made that debt oppressive nonetheless. “If you’re not making a living wage,” he said, “$20,000 in debt is devastating.” He struggled to come up with the $300 a month he owed upon graduation. The first work he found after he left the University of Northern Colorado in 2011 — when the recession’s effects were still palpable — was on-again, off-again hours at a factory, unloading trucks and constructing toy rockets on an assembly line. He then went back to school to pursue a master’s degree in comparative literature at the University of Colorado Boulder. After that, he tried to make it as an adjunct professor, but still he could barely scrape a living together with the one class a semester he was assigned. Haag had some hope restored when he landed full-time work as a medical courier in Denver, delivering urine and blood samples to hospitals. However, he was disappointed to find that he brought home just $1,700 a month. He had little money left over after he paid his student loan bill. He couldn’t afford an apartment in the city, where rents have been rising sharply. He lived with his mother and rarely went out with friends. “I couldn’t make the math work in America,” Haag said. Milestones that seemed like pipe dreams back home, like starting a family,and owning a house, are now on his horizon in India. Last year, he married an Indian citizen, a professor at a local college. He has a five-year spousal visa.

If you’re not making a living wage, $20,000 in debt is devastating. Chad Haag

Adjusting to a new country, he admitted, has not been entirely easy. “Some toilets here are holes in the ground you squat over,” Haag said. Recently, he ate spoiled goat meat at a local restaurant and landed in the emergency room. Still, he said, “I have a higher standard of living in a Third World country than I would in America, because of my student loans.”

Chad Haag with his wife at their wedding this year. Source: Chris Haag

Moving to another country to escape student debt is risky, experts say. If the person wants or needs to return to the United States, they’ll find their loan balance has only grown while they were gone, thanks to compound interest, collection charges and late fees.

Although the Education Department typically can’t garnish someone’s wages if they’re working for a company outside of the United States, it can take up to 15 percent of their Social Security benefits when they start collecting. “The loans do not disappear when you become an expat,” said Mark Kantrowitz, a student loan expert. The Education Department did not respond to a request for comment.

Chad Albright hasn’t checked his student loan account in eight years. Source: Chad Albright

Chad Albright attended Millersville University, in Pennsylvania, where he studied communications and history. He graduated as the Great Recession was beginning in December 2007, and couldn’t find anyone to hire him in his chosen field. “I went to interview after interview after interview,” Albright, 39, said. Still, he had $30,000 in student loans and was soon faced with a monthly bill of around $400. Unable to support himself, he moved in with his parents in Lancaster and worked as a pizza deliveryman. “There was anger,” Albright said. “I couldn’t believe I couldn’t find a job in America.”

He fell behind on his student loans and feared the Education Department would garnish his wages. Albright’s credit score tanked as a result of his repayment troubles, making it difficult for him to buy a car and to land certain jobs, since some employers now pull credit reports. “I feel that college ruined my life,” Albright said.

“I’m much happier in Ukraine,” said Albright. Source: Chad Albright

Seeing no future for himself in the United States, he decided to move to China in 2011. In the city of Zhongshan, he discovered he loved teaching students English. Unlike when he was delivering greasy boxes of pizza, he found his work meaningful and fulfilling. Though he earned just around $1,000 a month in China, the school where he was teaching covered most of his rent and the cost of living was much lower than in Pennsylvania. A few years later, Albright moved to Ukraine, where he is now a permanent resident. He first taught in Kiev and now does so in Odessa, a port city on the Black Sea. He has no plans to return to the United States. “I am much happier in Ukraine,” he said, adding that he hasn’t checked his student loan account in nearly eight years. There are more reasonable ways of dealing with student debt, said Nassirian, at the American Association of State Colleges and Universities. Struggling borrowers should enter into one of the government’s income-based repayment plans instead, in which their monthly bill will be capped at a portion of their income, he said. Some payments wind up being as little as $0 a month. But the fact that people are taking this drastic measure should bring scrutiny to the larger student loan system, said Alan Collinge, founder of Student Loan Justice. “Any rational person who learns that people are fleeing the country as a result of their student loan debt will conclude that something has gone horribly awry with this lending system,” Collinge said.

“I try not to think about America,” Williams said. “It’s heartbreaking.” Source: Katrina Williams

Katrina Williams was in a rush to find a job after she graduated from the University of South Alabama in 2013. She was looking at a monthly student loan bill of $700. “I had to take whatever I could so I could pay on the loans,” Williams said. She picked up multiple jobs, as a part-time barista at Starbucks, a substitute teacher and a delivery-woman for the United States Postal Service. At one point, she worked full time at a call center for Sears. “I was working every day,” Williams said. “I had enough money left over to put gas in the car.” She lived with her mother and couldn’t afford health insurance. Williams had a friend who had moved to Japan, and the idea of leaving the United States grew on her. In 2015, she moved to Chiba, also to teach English to students. “I love my work,” she said. Her job sponsors her visa.


Company: cnbc, Activity: cnbc, Date: 2019-05-25  Authors: annie nova
Keywords: news, cnbc, companies, country, united, escape, living, haag, debt, source, giant, couldnt, americans, loan, fled, states, student, albright


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Sears pins its future on small stores selling appliances, mattresses. Here’s what that looks like

Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignett


Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignett
Sears pins its future on small stores selling appliances, mattresses. Here’s what that looks like Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: lauren thomas, steve odland, erik lundh
Keywords: news, cnbc, companies, stores, small, pins, selling, future, life, store, park, looks, brands, kenmore, source, mattresses, overland, heres, sears, appliances


Sears pins its future on small stores selling appliances, mattresses. Here's what that looks like

The grand opening of the new Sears Home & Life store in Lafayette, Louisiana. Two other Sears Home & Life stores are also opening in Anchorage, Alaska, and Overland Park, Kansas. Source: Sears

Like many suburban shopping areas, Overland Park, Kansas, has a Whole Foods grocery store and a Cheesecake Factory. Now, it’s among the first to have a Sears Home & Life store. For five decades, from 1967 to 2017, Sears had presence in the booming town, which is also home to Sprint’s headquarters. But the Sears department store and auto center at 9701 Metcalf Ave. went dark two years ago, to make way for a glitzy mixed-use development. This is the narrative many people associate with Sears these days: store closings and liquidation sales. But a shiny, new Sears Home & Life store is the tale the company wants people talking about as it looks for a fresh start after narrowly escaping liquidation. Sears on Friday is opening its first such smaller-format stores — selling mainly mattresses, appliances and connected home products — in Overland Park and in Anchorage, Alaska, and in Lafayette, Louisiana. The company hopes these areas will draw new customers and nostalgic ones who shopped at now-shuttered Sears department stores in those neighborhoods and want the once-bankrupted brand back.

Sears is taking lessons from its storied past, with more than 125 years in business as an iconic American retailer, combined with its historic strengths in selling home goods like appliances, in hopes of creating its future. But it will also continue to face headwinds — like tariffs on consumer goods — and trendy, digitally native brands — like furniture retailer Wayfair and mattress-maker Casper — encroaching on its turf. “We are looking for alternative ways to build our business,” Peter Boutros, chief brand officer for Sears and Kmart, said ahead of the Overland Park grand opening. “The brand has so much equity, … even with what we’ve been through.” Sears Holdings, which owned Sears and Kmart, filed for bankruptcy protection in October with about 700 stores. A $5.2 billion sale saved the company, including its Kenmore and DieHard brands, and put everything into an entity called Transform Holdco. Transform Holdco is controlled by ESL Investments, a hedge fund owned by former Sears CEO Eddie Lampert, and has about 425 Sears and Kmart locations still operating throughout the country. Sears Home & Life is the company’s next chapter.

The “Welcome” Service Desk at the Sears Home & Life store where customers can meet with experts and explore how new appliances would look in a full-scale kitchen. Source: Sears

“This is an evolution in response to two things in the market,” Boutros said. “We are known for our home services, appliances and mattresses. And the second thing is … customers still want to shop for big-ticket items, lay on a mattress to test it, or talk to a home service expert in a physical store.” The retailer said it designed the Home & Life stores based on feedback gathered from opening a handful of smaller-format stores selling just mattresses and appliances in 2017 in Fort Collins, Colorado, Pharr, Texas, Camp Hill, Pennsylvania, and Honolulu. Those four stores are still open and will now be converted to Home & Life-branded locations. Beyond the three openings Friday, Sears won’t say exactly how many Home & Life locations it plans to operate. But it says it’s already scouting other real estate across the country. And it seems to have a strategy for where it wants these stores to be.

Young families

“We are looking for emerging communities where young families are building homes,” Boutros said. “Also where boomers are downsizing. … What we have to do with the boomers group is win back their trust, win back their confidence — that they will come back and shop with us for all the things we are known for.” Overland Park, for example, is considered one of the better suburbs to raise a family in the Kansas City area, with highly rated public schools. It was recently rated by neighborhood-review site Niche as the No. 1 city to buy a home in the U.S., ahead of places like Plano, Texas, and Raleigh, North Carolina. Boutros’ team will also consider opening Home & Life shops where there are already full-line Sears stores, if there’s ample demand from Sears’ customers. But the new Home & Life locations are just a fraction of that size — at roughly 12,500 square feet — and are going to meet consumers where they’re spending the most time, likely not in enclosed shopping malls. “Personally I think an open-air center … for convenience, driving up … makes more sense for us,” he said. “We are not as encumbered as being inside a mall. There’s more flexibility.”

Mattress display at new Sears Home & Life store featuring top brands including Tempur-Pedic, Beautyrest, Sealy, Serta, Simmons and Stearns & Foster (only available in Overland Park and Lafayette). Source: Sears

The new Home & Life stores offer mattresses from brands like Serta, Sealy and Tempur-Pedic. They also sell small appliances like vacuums, major appliances such as those manufactured under Sears’ Kenmore brand and connected home products. Sears has a deal with Amazon in which some Kenmore appliances, like refrigerators, are now Alexa-enabled. A huge focus of these stores is also service, the company said. The Home & Life location in Overland Park has a service desk where shoppers can bring questions while they’re browsing. It has a “Search Bar,” akin to Apple’s Genius Bar, where shoppers can order anything from either Sears’ or Kmart’s website that’s not in the store and get it delivered. It also includes other services like curbside pickup and buy online pick up in store. To be sure, when compared with other advancements retailers have been making to their bricks-and-mortar stores in recent years, Sears’ upgrades within the Home & Life concept might not seem that exciting. Best Buy’s stores selling appliances have similar help-service bars with trained tech representatives, and expanded delivery options. Same with Home Depot and Lowe’s. Even big-box chains like Walmart and Target will give Sears’ growth strategy a run for its money — they offer many of the same items, like mattresses and appliances. The mattress category in particular is being flooded with competition from start-up brands like Casper, Purple, Leesa, Tuft & Needle, Eight Sleep and Nectar, which sell directly to consumers, bypassing department stores. Mattress Firm is shutting more than 200 locations, as online mattress sales ballooned more than 60% in 2017. Does Sears Home & Life really stand a chance?

The Sears Home & Life store offers Smart Home and Home Services areas, where shoppers can explore connected home products and shop replacement parts for any appliance. Source: Sears

“I’m glad [Lampert] is still trying to find the format that works,” said Alan Lacy, former Sears chairman and CEO. “A point of differentiation with Home & Life is it has the Kenmore brand. That does still have some value, so there’s something to fight with there.” “But a challenge is going to be the appliance category is something people purchase from rarely,” Lacy added. “The principal competitors — Home Depot, Lowe’s and Best Buy — all have shoppers in their stores with more frequency.” Sears’ competitors are more “top of mind” with many consumers in the U.S. today, he said. Each Home Depot, Lowe’s and Best Buy reported same-store sales gains — a closely watched measure of a retailer’s health — during their latest fiscal quarters. Investments in their stores and websites are paying off and clearly still driving traffic. Sears, by contrast, has seen its sales steadily decline. It went 42 quarters with only one three-month period of gains in same-store sales. Its last profitable year was in 2010. In the midst of its bankruptcy proceedings, it lost $318 million during the November-December holiday season, according to SEC filings, though some of that was because of bankruptcy costs.

At the Sears Home & Life store, customers can browse leading appliance brands, including Kenmore, and assorted smart home products in kitchen vignettes. Source: Sears

Lessons from the past

Notably missing from the Sears Home & Life store in Overland Park is apparel, something Sears and Kmart locations have carried for decades. (Clothing and accessories can still be ordered at the store using the Search Bar.) Boutros said Sears — with Home & Life — really has to “lean into what we are known for,” which is its DieHard tool brand, Kenmore washers and dryers, and overall expertise in installing bulky appliances. “We’re not trying to create new categories,” he said. “We’re not trying to create something we’re not.” Of course, just because Sears is putting money into its Home & Life concept doesn’t mean it will work. Sears less than a year ago devoted resources toward completely renovating a store at Oakbrook Center in Illinois. It trimmed the size of the store, added more modern fixtures and mixed up the merchandise. But seven months after the renovations were complete, the store shut in April. Transform Holdco said it opted not to acquire the lease of the Oakbrook store because the location wasn’t making money.

Major appliances including Kenmore and other leading appliance brands, displayed in kitchen vignettes at the new Sears Home & Life store. Source: Sears


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: lauren thomas, steve odland, erik lundh
Keywords: news, cnbc, companies, stores, small, pins, selling, future, life, store, park, looks, brands, kenmore, source, mattresses, overland, heres, sears, appliances


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Meet the 2019 CNBC Disruptor 50 companies

In the seventh annual Disruptor 50 list, CNBC features private companies — from biotech and machine learning to transportation, retail and agriculture — whose innovations are changing the world and fueling a race between superpowers like the U.S. and China. These forward-thinking start-ups have not only identified unexploited niches in the market that have the potential to become billion-dollar businesses, a majority of them already are billion-dollar businesses. But we ranked those venture capi


In the seventh annual Disruptor 50 list, CNBC features private companies — from biotech and machine learning to transportation, retail and agriculture — whose innovations are changing the world and fueling a race between superpowers like the U.S. and China. These forward-thinking start-ups have not only identified unexploited niches in the market that have the potential to become billion-dollar businesses, a majority of them already are billion-dollar businesses. But we ranked those venture capi
Meet the 2019 CNBC Disruptor 50 companies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, billiondollar, world, businesses, 2019, market, companies, 50, list, billion, meet, venture


Meet the 2019 CNBC Disruptor 50 companies

In the seventh annual Disruptor 50 list, CNBC features private companies — from biotech and machine learning to transportation, retail and agriculture — whose innovations are changing the world and fueling a race between superpowers like the U.S. and China. These forward-thinking start-ups have not only identified unexploited niches in the market that have the potential to become billion-dollar businesses, a majority of them already are billion-dollar businesses. A startling 36 disruptors this year are unicorns that have already reached or passed the billion-dollar mark.

Unseating corporate giants is no easy feat. But we ranked those venture capital–backed companies doing the best job. In aggregate, these 50 companies have raised over $46 billion in venture capital at an implied Disruptor 50 list market valuation of more than $266 billion, according to PitchBook data. Many already are part of our daily lives, whether or not we know it. Read more about the trends that stand out in the 2019 list ranking — from the future of farming and residential real estate to the battles for control in the rapidly growing artificial intelligence and genetics industries — and the methodology used to select this year’s Disruptor companies.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, billiondollar, world, businesses, 2019, market, companies, 50, list, billion, meet, venture


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Nestle in talks with EQT Partners to sell skin health unit

A pedestrian passes a Nestle SA logo at the Nescafe factory, operated by Nestle SA, in Tutbury, U.K., on Thursday, Aug. 23, 2018. Nestle is in exclusive talks with a consortium led unit, according to a source familiar with the matter. EQT is putting the finishing touches to the deal, which would value the unit at up to $10 billion and could be signed in the next 24 hours, the source said. Nestle’s skin health unit, which sells Cetaphil, was formed in 2014 when it bought a stake in cosmetics bran


A pedestrian passes a Nestle SA logo at the Nescafe factory, operated by Nestle SA, in Tutbury, U.K., on Thursday, Aug. 23, 2018. Nestle is in exclusive talks with a consortium led unit, according to a source familiar with the matter. EQT is putting the finishing touches to the deal, which would value the unit at up to $10 billion and could be signed in the next 24 hours, the source said. Nestle’s skin health unit, which sells Cetaphil, was formed in 2014 when it bought a stake in cosmetics bran
Nestle in talks with EQT Partners to sell skin health unit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: jessica dickler
Keywords: news, cnbc, companies, source, nestle, skin, consortium, talks, sources, underperforming, unit, uk, sell, partners, value, eqt, deal, health


Nestle in talks with EQT Partners to sell skin health unit

A pedestrian passes a Nestle SA logo at the Nescafe factory, operated by Nestle SA, in Tutbury, U.K., on Thursday, Aug. 23, 2018.

Nestle is in exclusive talks with a consortium led unit, according to a source familiar with the matter.

EQT is putting the finishing touches to the deal, which would value the unit at up to $10 billion and could be signed in the next 24 hours, the source said.

EQT has teamed up with Abu Dhabi Investment Authority (ADIA), several sources told Reuters. It faced competition from rival buyout funds and some industry players including a consortium of Advent and Cinven as well as U.S. private equity firm KKR & Co Inc and European fund PAI Partners, the sources said.

Nestle’s skin health unit, which sells Cetaphil, was formed in 2014 when it bought a stake in cosmetics brand L’Oreal.

The unit was put up for sale last September, as Nestle tries to ditch underperforming businesses in an effort to fend off criticism from an activist investor demanding an overhaul.

Nestle and EQT declined to comment.

The Financial Times reported about the deal talks earlier in the day.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: jessica dickler
Keywords: news, cnbc, companies, source, nestle, skin, consortium, talks, sources, underperforming, unit, uk, sell, partners, value, eqt, deal, health


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Indigo Ag 2019 Disruptor 50

This Boston-based agricultural technology start-up is creating seed treatments that optimize the health of a plant in order to increase its yield. The aim is to use natural microbiology and tech to improve sustainability, profits for growers and, of course, consumer health. Currently, the company’s seed treatments are used for five major row crops — corn, wheat, soybeans, rice and cotton. Read More: FULL LIST: 2019 DISRUPTOR 50In September, Indigo Ag introduced the Indigo Marketplace, a digital


This Boston-based agricultural technology start-up is creating seed treatments that optimize the health of a plant in order to increase its yield. The aim is to use natural microbiology and tech to improve sustainability, profits for growers and, of course, consumer health. Currently, the company’s seed treatments are used for five major row crops — corn, wheat, soybeans, rice and cotton. Read More: FULL LIST: 2019 DISRUPTOR 50In September, Indigo Ag introduced the Indigo Marketplace, a digital
Indigo Ag 2019 Disruptor 50 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, used, seed, 2019, buyers, yield, indigo, 50, growers, transportation, wheat, ag, treatments, health


Indigo Ag 2019 Disruptor 50

This Boston-based agricultural technology start-up is creating seed treatments that optimize the health of a plant in order to increase its yield. The aim is to use natural microbiology and tech to improve sustainability, profits for growers and, of course, consumer health. Currently, the company’s seed treatments are used for five major row crops — corn, wheat, soybeans, rice and cotton.

Read More: FULL LIST: 2019 DISRUPTOR 50

In September, Indigo Ag introduced the Indigo Marketplace, a digital platform that allows growers and buyers to electronically connect with each other. Buyers are able to more easily source the kinds of grain they want, and growers can make more money by having access to a larger market. Indigo handles the grain-quality testing, transportation and payments between growers and buyers.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, used, seed, 2019, buyers, yield, indigo, 50, growers, transportation, wheat, ag, treatments, health


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Phononic 2019 Disruptor 50

Phononic is a semiconductor manufacturer that has developed new solid-state cooling and refrigeration technology that displaces compressors, heat sinks and fans — ancient, energy-inefficient technology that’s been around for more than 100 years. Phononic replaced the compressor with solid-state technology and nontoxic refrigerants to give medical facilities smarter, more precise refrigeration with 40% more storage space. Read More: FULL LIST 2019 DISRUPTOR 50Last year that technology really took


Phononic is a semiconductor manufacturer that has developed new solid-state cooling and refrigeration technology that displaces compressors, heat sinks and fans — ancient, energy-inefficient technology that’s been around for more than 100 years. Phononic replaced the compressor with solid-state technology and nontoxic refrigerants to give medical facilities smarter, more precise refrigeration with 40% more storage space. Read More: FULL LIST 2019 DISRUPTOR 50Last year that technology really took
Phononic 2019 Disruptor 50 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, pepsi, refrigerators, 2019, bottling, company, solidstate, 50, sales, refrigeration, stores, technology, phononic


Phononic 2019 Disruptor 50

Phononic is a semiconductor manufacturer that has developed new solid-state cooling and refrigeration technology that displaces compressors, heat sinks and fans — ancient, energy-inefficient technology that’s been around for more than 100 years. The Durham, N.C.-based company, launched in 2009, started by selling medical refrigerators used in labs and hospitals. Phononic replaced the compressor with solid-state technology and nontoxic refrigerants to give medical facilities smarter, more precise refrigeration with 40% more storage space.

Read More: FULL LIST 2019 DISRUPTOR 50

Last year that technology really took off when the company partnered with Thermo Fisher Scientific as the exclusive supplier for its life sciences and health-care solid-state refrigeration and freezer products. Phononic founder and CEO, Tony Atti, the former director of boutique private-equity firm MHI Energy Partners, claims his company’s units are nearly silent and use about 25% less energy than a traditional refrigerator.

That’s attractive to food and beverage companies like Pepsi Bottling, one of Pepsi’s biggest distributors. Last year the bottling company installed Phononic refrigerators at the end of aisles and near registers in some North Carolina supermarkets and convenience stores and compared sales at stores where the beverages were in large refrigerators near the back of the store. The Phononic refrigerators had better sales, and now Pepsi Bottling is using them throughout the country.

So far Phononic, with 140 employees, has raised close to $160 million from Oak Investment Partners, Venrock Associates and Tsing Capital, among others. Eventually, the company wants to get into commercial and residential cooling so that it can alleviate some of the load on local power grids. It’s testing that in Singapore right now in partnership with Temasek-EcoSperity.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, prakash singh, afp, getty images, michael nagle, bloomberg, chesnot
Keywords: news, cnbc, companies, disruptor, pepsi, refrigerators, 2019, bottling, company, solidstate, 50, sales, refrigeration, stores, technology, phononic


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