RBI Tells Third Party Buyers to Wait for Shuttered Titles

first_imgMore and more of the 23 shuttered Reed Business Information titles are finding new lives as deals continue to pop up that have their former RBI managers assuming ownership.RBI confirmed Tuesday that HOTELS publisher Dan Hogan acquired the title along with Foodservice Equipment and Supplies. Late last week, newly-formed CFE Media—headed by former RBI group publishers Jim Langhenry and Steven Rourke—acquired Control Engineering, Consulting-Specifying Engineer and Plant Engineering. And the four titles that were published under RBI’s Supply Chain Group have been acquired by Peerless Media, a company formed by ex-group publisher Brian Ceraolo and backed financially by EH Publishing.Financial terms of these deals—including whether or not the acquisitions were grouped together with severance packages—were not disclosed. But interested buyers of those shuttered brands who aren’t former RBI managers are being told by the company’s top management that no offers will be entertained until the company completes an internal auction process. In an e-mail obtained by FOLIO:, RBI executive vice president and CFO John Poulin tells one potential buyer that the company has been actively working with RBI management to “give them the opportunity to purchase the [intellectual property] associated with the publications before we considered any third party offers.” “To date, we have closed three transactions and have a few more to close this week,” he writes. “This will leave us with only a few unsold brands.”When contacted by FOLIO:, two other third parties who have expressed interest in acquiring some of the shuttered brands confirmed receiving the same e-mail. An RBI spokesperson declined to comment.In the e-mail, Poulin says RBI will contact interested buyers by May 10 in regard to purchasing any brands left unsold.RBI shuttered the titles last month after announcing nine months earlier that it was putting the majority of its U.S.-based properties back on the block. RBI sold off 20 titles which it says collectively accounted for approximately two thirds of the overall revenue of the portfolio it was divesting. Following the closures, a Reed spokesperson said the company would be open to discussions with potential purchasers of the intellectual property associated with any of the folded brands. But sources with direct knowledge of the sale process told FOLIO: that Reed never brought the 23 titles it shuttered to the open market.last_img read more

Powercast wants to solve one of Nintendo Switchs most frustrating problems

first_img CNET may get a commission from retail offers. Now playing: Watch this: Share your voice Culture Gaming Accessories 2:38 Amazon All the cool new gadgets at CES 2019 CES 2019: Every story so far: See all of CNET’s coverage of the year’s biggest tech show. CES 2019 schedule: It’s six days of jam-packed events. Here’s what to expect. See It News • Are you a Nintendo Switch docker or hander? 85 Photos Walmart See It Review • Nintendo Switch review: Pure fun on a big-screen TV or on the go There’s also a charger that works with individual Joy-Cons instead of two. CNET/Mark Serrels Powercast wants to solve one of the biggest problems with the Nintendo Switch, and that makes me very happy.I consider the Nintendo Switch one of the most convenient game consoles I’ve ever owned. You can play games on the go, before falling asleep in bed, on public transport. It’s a console designed to filter into the gaps of a busy life, with one exception: the damned Joy-Con controllers. I have this issue weekly. I want to play, say Mario Kart 8 or Smash Bros. Ultimate, with my family. I need three or four Joy-Cons (aka Nintendo Switch controllers). The ones already attached to the Nintendo Switch are good to go because, unless you own an accessory, that’s the only way Nintendo Switch Joy-Cons charge. My spare Joy-Cons, however, have no battery. That means you’re pretty much screwed — unless you have Powercast’s Wireless Charging Grips.These things are awesome. I tried them out at CES 2019, and I love them. $289 Charge your Nintendo Switch over-the-air $299 See It Nintendo See it $309 They work using Powercast’s over-the-air energy tech. A rectangular cube literally sends energy through the air using RF energy, which is converted to DC power using a receiver chip inside the Nintendo Switch grip. The energy stored is used to charge the controllers themselves. What that means, essentially, is you can play Nintendo Switch while your controller charges, potentially until the heat death of the universe. It’s a great solution. There are a few issues here. The range is short-ish. In a press release, Powercast says it’s two feet. In the video above, you can see I got a little bit farther, but it was hard to confirm whether the controller was actually still charging at that distance. There are other charging grips on the market — Nintendo has an official one but it requires cables. Powercast’s solution seems better to me, particularly since I enjoy attaching the Joy-Cons to some sort of grip while playing the Nintendo Switch docked on TV. I’d rather do that without a cable.Powercast is saying the Wireless Charging Grips will be available in the third quarter in the US and Canada, with other territories coming shortly after. No word on price yet. Preview • Nintendo Switch: All the latest details Comments $299 Tags 2 How To • How to transfer your Nintendo Switch account to a new Switch V2 Nintendo Switch Mentioned Above Nintendo Switch (Gray) Best Buy CES 2019last_img read more

Alkem lists at 31 premium to issue price Dr Lal PathLabs gains

first_imgAlkem Laboratories, which came out with an initial public offering (IPO) recently, listed at Rs 1,380, a premium of 31.4% to the issue price of Rs 1,050 per share on the stock exchanges on Wednesday, 23 December.The fifth largest Indian pharma company had come out with an IPO of 12,853,442 equity shares of face value of Rs 2 per share which was oversubscribed 44 times.The company priced its IPO at Rs 1,050 per share at the top end of the price band of Rs 1,020-1050, raising Rs 1,350 crore. The offer opened on 8 December and closed on 10 December.At 11.45 am, the Alkem stock was trading at Rs 1,382, off from its intra-day high of Rs 1,399 on the NSE. Over 66 lakh shares were traded in a span of about three hours.The 42-year-old company’s 2014-15 turnover was Rs 3,783 crore, with 25% revenues derived from exports. The company grew at a compounded annual growth rate of 22.3% between 2010-11 and 2014-15, according to the offer document.Dr Lal PathLabs, the diagnostic chain, which also got listed on Wednesday, saw its shares listing at 31% premium to its issue price of Rs 550 per share, on the NSE.The share was trading at Rs 772.70, after touching an intra-day high of Rs 783.45 and low of Rs 711 on the NSE. The volume was even higher at 1.01 crore shares on the counter till 11.45 am.Dr Lal PathLabs had raised Rs 638 crore from the public and the issue was oversubscribed 33 times.Earlier, two high-profile IPOs had seen contrasting debut on the bourses; while Interglobe Aviation, the parent company of air carrier IndiGo listed at Rs 856, a premium of about 12% to its issue price of Rs 765 per share, Coffee Day Enterprises was a disaster, with the shares listing at Rs 313, discount of about 4.5% to the issue price of Rs 328 per share.But the shares plunged intra-day and closed at Rs 270, a discount of about 17% to the issue price. The holding company of Coffee Day outlets had raised Rs 1,150 crore from the public.The Sensex was trading at 25,846, a gain of 256 points, or 1% at 12.15 pm. The gainers were GAIL (India), BHEL, Sun Pharma and Tata Steel.last_img read more

McCain torpedoes Republican effort to repeal Obamacare

first_imgArizona Senator John McCain says he opposes the latest Republican effort to repeal Obamacare. Photo: AFPUS Senator John McCain Friday announced his opposition to the latest Republican attempt to replace Barack Obama’s signature health care law, likely dooming the repeal effort.It is the second time in two months that he has defied his party and president Donald Trump over efforts to replace the Affordable Care Act, often referred to as “Obamacare,” which has long been in Republicans’ sights.“I cannot in good conscience vote for the Graham-Cassidy proposal,” McCain said of the bill proposed by fellow Republican senators Lindsey Graham and Bill Cassidy.“I believe we could do better working together, Republicans and Democrats, and have not yet really tried,” the senator said in a statement.In July, McCain made a dramatic return to Washington from Arizona after a brain cancer diagnosis to become one of three Republican senators who helped sink their party’s earlier bid to replace Obamacare.Now, rebels within the party ranks appear set to torpedo what may be the party’s last chance to make good on a longstanding Republican goal, and a signature pledge of the president.With both McCain and the conservative Rand Paul opposed, it would take just one more Republican defector to prevent the bill’s passage before a deadline of 30 September, the end of the fiscal year. At least two party moderates-Susan Collins and Lisa Murkowski-are known to have serious reservations.The bill’s collapse would be yet another blow to the president and the Republican leadership, who have been unable to move forward on repealing Obamacare despite controlling Congress and the White House.In coming out against the latest bill, McCain criticized the fact that it had bypassed regular Senate order, and noted that it would not be fully reviewed by the non-partisan Congressional Budget Office (CBO) before the end of the month.The senator said he could not “support it without knowing how much it will cost, how it will effect insurance premiums, and how many people will be helped or hurt by it.”Trump targets defectors -The bill’s supporters might be eager to avoid a CBO score. In July, the non-partisan body projected that the ranks of the uninsured would grow by 23 million Americans, and premiums would rise 20 per cent annually, over the next decade if the previous Obamacare repeal bill became law.The White House scrambled earlier this week to win over Republicans skeptical of Graham-Cassidy, with Trump himself phoning lawmakers and state governors seeking to tilt the scales in favor of the bill.And Trump made his position on Republican defectors clear on Friday, writing on Twitter that those who vote against Graham-Cassidy “will forever…. be known as ‘the Republican who saved Obamacare.’”While Republicans have pledged to repeal the Obama-era health care reforms, they have struggled to secure enough support to do so amid fears that proposed alternatives would dramatically increase the number of Americans without health insurance.The American Medical Association has issued scathing criticism of the latest repeal effort, warning it “would result in millions of Americans losing their health insurance coverage, destabilize health insurance markets, and decrease access to affordable coverage and care.”McCain’s rejection of the latest Obamacare replacement bill is yet another slight against the current president, someone he has repeatedly challenged from within the ranks of the Republican Party.Trump, for his part, had mocked McCain’s war hero status as a former prisoner of war in Vietnam as he ran for president, declaring: “I like people who weren’t captured.”last_img read more

Setting a Policy for Blogs

first_img 2 min read Blogging has recently been causing all kinds of ruckus in the business world. These online journals are far from a harmless pastime–employees from companies including Delta and Google have reportedly been fired for transgressions such as disclosing information about their pay and benefits packages in their personal blogs. How can you protect yourself from negative publicity and employee litigation stemming from blogs?”We spend so much time at work that the line between work and personal life becomes blurred,” says David Micah Kaufman, HR expert and co-author with attorney Deborah Weinsteinof the forth-coming book Blogs@Work. He believes it’s necessary to establish an official policy on blogging for your employees. Any policy should prohibit disclosing confidential company information and/or trade secrets. It should also set guidelines about disparaging clients or co-workers, which could be considered harassment.Weinstein, an employment law expert, adds, “Workers should also be educated on the policy–don’t just hand it to them.” Discuss exactly what’s considered confidential with employees.Still, employees’ personal blogs aren’t inherently bad–some companies even encourage them as a way to market the company from the employees’ perspective, says Jennifer Loftus, national director with Astron Solutions, an HR company in New York City. The key is communicating standards upfront. Says Loftus, “Think back to when [companies] started adding policies about e-mails–what was all right to disclose and what wasn’t–and now take that to the next level.” This story appears in the November 2005 issue of Entrepreneur. Subscribe » Register Now » Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box. November 1, 2005last_img read more

From Mobile to Social Media to Disruptive Tech A Preview of This

first_img Register Now » March 7, 2013 Whether attending in person or keeping a watchful eye for reports online, technology entrepreneurs and enthusiasts alike are gearing up for this year’s SXSW Interactive (SXSWi) festival. It is arguably the go-to event for digital creatives and innovators from all over the world to meet and share their ideas. And, in recent years, it’s where tech startups like Twitter and Foursquare have been announced.This year’s five-day mega tech gathering kicks off Friday in Austin, Texas. It includes an onslaught of keynotes, panel sessions, workshops and meetups — covering all things web design, social media, mobile, usability, new tech business models and more. There’s also a Startup Village showcasing the various startups at SXSWi, the SXSW Interactive Accelerator during which some 50 startups will be competing for prizes, and the Gaming Expo for video game startups.Attendees can expect keynote presentations from a list of entrepreneurs and industry personalities. Among them will be Bre Pettis, co-founder of the Brooklyn, N.Y.-based 3-D printing startup MakerBot. As will be Elon Musk, who co-founded PayPal, electric car designer and manufacturer Tesla Motors and space transportation company SpaceX.Related: The Top 10 Startup Events to Watch in 2013The casual attendee might be overwhelmed by the number of events and topics being discussed over the next few days. We offer here a list of sessions we find particularly interesting:”Tales of US Entrepreneurship Beyond Silicon Valley” (Friday, March 8). Reddit founder Alexis Ohanian shares stories from Internet 2012 Campaign Tour, a bus he co-crowd funded to spread awareness about internet policy and to “collect, document and share stories throughout the American heartland.””Insights About Innovation: David Sacks Fireside Chat” (Saturday, March 9) David Sacks, CEO of Yammer Inc., and Mahalo founder and CEO Jason Calacanis discuss what it takes to create a disruptive startup, their lessons learned and the current and future state of innovation in Silicon Valley.”Airbnb’s Brian Chesky Talks with Fortune” (Sunday, March 10) Airbnb’s co-founder on designing and building a platform for sharing homes, the company’s push into the travel guide area and the challenges of scaling a disruptive business model.”Nate Silver: The Signal & the Noise” (Sunday, March 10) Silver, one of the most influential political forecasters and bloggers in the U.S., will examine the world of prediction, investigating how others can “distinguish a true signal from a universe of noisy data.””When Bad Names Happen to Good Startups” (Monday, March 11) Speakers from brand agency archer>malmo will discuss the aspects of a successful brand name ­­ one that “fully captures your story, highlights your point of difference, and inspires a spark of desire in your target.””The Rise of the Impact Entrepreneur” (Tuesday, March 12) A panel of presenters discusses the technologies and companies that are “poised to tackle our 21st century problems, and witness the growing movement of ‘tech for good.'”And some topics will stray a bit from technology and startup culture. For instance, former Vice President Al Gore offers his “forecast into the future,” acclaimed writer Neil Gaiman and Warner Bros. TV executive producer Chuck Lorre will talk about challenges of the creative process, and The 4-Hour Workweek (Harmony, 2007) author Tim Ferriss will share cooking and lifestyle advice from The 4-Hour Chef: The Simple Path to Cooking Like a Pro, Learning Anything, and Living the Good Life (New Harvest, 2012). There’s a lot going on at SXSWi and we’ll be your eyes and ears on the ground. Stay tuned to Entrepreneur.com over the next several days for news and updates from the big event.Related: 15 Billion-Dollar Tech Startups Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Globalcenter_img 4 min read Growing a business sometimes requires thinking outside the box.last_img read more

How Jack Mas Crazy Management Style Built a Technology Empire

first_img Register Now » 6 min read East is East and West is West, and never the twain shall meet.”–Rudyard KiplingMore than 100 years ago, Rudyard Kipling wrote those words before the world had shrunk back into a new Pangaea, reconnected by fiber-optic lines, global-supply chain networks and global brands.Alibaba and its kinetic leader Jack Ma have blended the best of Western and Chinese technologies, culture and management to create the world’s largest ecommerce company and perhaps soon to be biggest and most diversified global technology enterprise. The company’s Sept. 19 IPO raised more than $20 billion and gave Alibaba a market cap of $240 billion. It also made Jack Ma, already the richest man in China, one of the most wealthy men in the world with a net worth of more than $18 billion.Alibaba is not just an ecommerce company. While its three main platforms Taobao (a consumer-to-consumer company) Tmall (a business-to-consumer firm) and Alibaba.com (a business-to-business operation) generated more than $250 billion in transactions and $7.9 billion in revenue in 2013 in China, the company also has interests in electronic payments, cloud computing, streaming entertainment, supply-chain infrastructure and investment funds. It is poised to expand its technology interests and platforms on a global basis.So how did a former English teacher from Hangzhou, known as “Crazy Ma” because of his unorthodox management philosophy, build one of the most valuable companies in the world in just 15 years? He did it by blending the best of Western and Eastern technologies, operational practices and management styles.The following are four elements of Ma’s management style that entrepreneurs and small-business owners can follow to build the next Alibaba.Related: How Alibaba’s Jack Ma Became the Richest Man in China1. Be like Forrest Gump.Jack Ma relates to the naive innocence with which the character Forrrest Gump approaches life. Ma watches his favorite film Forrest Gump over and over and over again. Indeed Ma never let himself get down, even when he made $15 a month as a teacher while supplementing his income peddling on the street.Nor did he become discouraged when KFC, a hotel and the police turned him down for jobs. He kept on believing that if someone sticks to his principles and works hard, anything was possible. Like Forest Gump, Ma has always seen the world and its possibilities almost as if through the eyes of a child, believing technology could be magic and life truly a box of chocolates — but one that a person never knows what he will get inside.Successful entrepreneurs do not let setbacks get them down and they see both what’s impossible and possible, but the difference is that they focus only on the possible.  Related: Is Competition a Catalyst for Innovation?2. Innovate on the shoulders of giants.Ma has consistently understood that  innovation is not always synonymous with invention. Like Steve Jobs, who did not invent the digital music player, and Bill Gates, who did not invent computer operation systems, Ma built his most successful properties on the foundations of what came before. For example eBay had long been established as the largest and most successful consumer-to-consumer ecommerce site in the world when Ma launched Taobao.What Ma did was adapt the concept specifically for China, knowing that culture, history, philosophy and mind-set were as important to success as functionality. That is why he included a real-time chat function on Taobao, so that buyers and sellers could build a relationship and trust and negotiate in real time. In China every transaction is personal.To be like Jack Ma, entrepreneurs should believe that pure invention is not necessary to be an innovator.3. Soar with eagles.Jack Ma has surrounded himself with the smartest and most capable and innovative executives and managers he could find. He never believed that he was an expert at everything and that as a founder he had earned the right to micromanage every aspect of his business. At a time when it was very unusual, Ma was open to bringing in foreign executives to further his goal of blending East and West.He also befriended Jerry Yang, co-founder of Yahoo, and Masayoshi Son, chairman of Japanese telecom giant Softbank. Both were early investors in Alibaba and helped the company grow more quickly. Yahoo and Softbank were repaid handsomely on IPO day. Entrepreneurs need to let others have control and should do what is right for their business not their ego.4. Take your business but not yourself seriously.Ma has worked hard from Day 1 to build a unique culture at Alibaba. Yes that sounds like a cliché and old-fashioned management-speak, but it has proved to be one of the most important factors in Alibaba’s success.Ma has built a culture of participation, inclusion and fun. He exhibits high energy and is outspoken, fun loving and charming. He has ensured that all those personal traits have become company traits and is well known for singing karaoke with employees, holding company retreats for 15,000 (focused on fun not work) and dressing in outlandish outfits when addressing management.He has created an atmosphere such that Alibaba employees treat him like a combination of father figure, inspirational guru and band leader. The result is a super loyal, hardworking group of executives, managers and employees who would follow Ma to the ends of the Earth.It’s of paramount importance that entrepreneurs build a brand and culture simultaneously and not take themselves too seriously.None of this was an accident. Ma spent years studying Western culture, management concepts and successful businesses, took what he needed and left the rest. He combined that with his love and understanding of China’s culture and consumption habits to create an all-encompassing technology success that is positioned to become the first truly global Chinese brand.Ma has proved through his unique management style for Alibaba that East and West can meet and when they do something beautiful can come of it. Related: Who Knew? Charismatic Alibaba Founder Jack Ma Moonlights as a Singer (Video) Opinions expressed by Entrepreneur contributors are their own. Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box. September 29, 2014last_img read more

Carnival lowers profit outlook cites US ban on Cuba cruises

first_img By: The Associated Press Carnival lowers profit outlook, cites U.S. ban on Cuba cruises Friday, June 21, 2019 << Previous PostNext Post >> Share MIAMI — Carnival Corporation earned US$451 million in its fiscal second quarter, which ended May 31, down from $561 million a year earlier. The results, however, were better than analysts had expected.The company said it expects to earn between $4.25 and $4.35 per share for the fiscal year that runs through next February. That is down from an earlier forecast of $4.35 to $4.55 per share.Cruise operators were caught off guard this month when the Trump administration announced a ban on U.S. cruise line sailings to Cuba over the Cuban government’s support for Venezuela’s beleaguered president.Carnival and other operators scrambled to reroute passengers – some of whom showed up at docks in Florida with Cuban itineraries, but were unsure where they were going that day. Other customers said they would cancel bookings and ask for refunds.While other Caribbean destinations have been popular, the cruise lines were able to charge higher prices for trips to Cuba.More news:  Canada raises travel warning amid escalating protests in Hong KongCarnival CEO Arnold Donald told analysts that Cuba cruises are “not in the plans for next year, and therefore that higher-yielding itinerary is off the table.”Carnival said the Cuba ban will cut its earnings by between 4 and 6 cents per share, while rerouting passengers booked on its Carnival Vista ship, now undergoing repairs, will cost 8 to 10 cents per share.On top of that, bookings in Europe are being hurt by slowing economic growth. And Carnival is paying more for fuel.Carnival’s second-quarter profit was down $110 million from a year earlier. Still, the company said that excluding unusual items it earned 66 cents per share, beating the forecast of 61 cents per share among analysts surveyed by FactSet.Revenue rose 11% to $4.84 billion, topping the analysts’ estimate of $4.54 billion. But spending also increased, led by a jump of more than 13% for fuel.Carnival shares fell $4.04, or 7.7%, to close at $48.80. They were down nearly 13% earlier in the session before making a partial recovery. Tags: Carnival Cruise Line, Cubalast_img read more