MedMen Releases Preliminary Fourth Quarter 2018 Systemwide Retail Revenue Results

LOS ANGELES–()–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) announced today unaudited systemwide retail revenue for its fiscal 2018 fourth quarter ended June 30, 2018. Across the Company’s operations in California, Nevada and New York, systemwide retail revenue was US$19.2 million (CA$25.2 million). The Company is expected to post its audited fiscal 2018 full year results in October.

Strong systemwide retail revenue for the quarter is primarily attributable to MedMen’s stores in Southern California’s recreational market. Excluding its Abbot Kinney store, which opened in early June of this year, the Company’s other 7 retail locations reported a combined US$17.4 million in revenue (CA$22.8 million), with an average retail markup over wholesale of 90%. These 7 locations saw 94,000 new customers and nearly 130,000 returning customers, with an average spend per transaction of US$77.76 (CA$102.09), operating at an annualized per square foot revenue of US$6,541 (CA$8,470). By comparison, according to CoStar, the average sales per square foot for an Apple store is approximately US$5,546 (CA$7,282) and approximately US$2,951 (CA$3,875) for Tiffany & Co stores.1

MedMen continued to expand its operations in Nevada, successfully opening its first branded store in downtown Las Vegas in July and recently won approval to operate a second location near the Hard Rock Hotel, the Thomas and Mack Center and McCarran International Airport, set to open in October.

Retail is the key to the fast-evolving cannabis industry. It is where brands are built and where the margins can be maintained,” said Adam Bierman, MedMen chief executive officer and co-founder. “The rapid revenue growth in our California stores, only six months into recreational sales, is a solid reflection of our continued execution of our business thesis. We will remain focused on our strategy and the kind of growth that generates long-term value for our shareholders.”

In conjunction with its growing retail footprint, MedMen’s strategy is to complement its operations in every market with robust vertical integration with the objective of better margins and overall control of the supply chain. During the fourth quarter, the Company opened its Project Mustang, a 45,000-square-foot, state-of-the-art cultivation and manufacturing facility in northern Nevada. The same factory design is currently being built in Desert Hot Springs, California, with completion scheduled for early 2019. The Company plans to build the same factories in New York, where it currently holds one of 10 medical marijuana licenses, and, if it closes its proposed acquisition, near Orlando, Florida. MedMen announced in July that it had entered into a definitive agreement to purchase a Florida license holder with a cultivation facility and rights to open 25 stores in that state.


MedMen Enterprises is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive marijuana laws. Visit

USD/CAD of $1.3130 as of August 13, 2018.


Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only MedMen’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of MedMen’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning plans for and the timing of new cultivation and manufacturing facilities, including in Florida, and the results of the Company’s strategy of vertical integration and expectations that MedMen’s proposed Florida acquisition will be completed.

By identifying such information and statements in this manner, MedMen is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of MedMen to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, MedMen has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: failure to obtain all necessary approvals with respect to MedMen’s proposed Florida acquisition, delays in opening new cultivation and manufacturing facilities, higher than expected costs to construct and operate cultivation and manufacturing facilities, adverse changes in the public perception of cannabis; changes in consumer demand for cannabis; decreases in the prevailing prices for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s proposed operations; dependence upon third party service providers skilled labor and key inputs for purposes for example facility design and construction activities; risks inherent in the agricultural business; intellectual property risks; risks related to litigation; dependence upon senior management. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although MedMen believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Key assumption used herein are that the revenue for the fourth quarter could be achieved in further quarterly periods over an annual period such that annualizing is reasonable; that vertical integration can be used to achieve cost efficiencies; that the Company has the requisite capabilities to execute on a vertical integration strategy; and that construction of new facilities will be on budget and not delayed. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and MedMen does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to MedMen or persons acting on its behalf is expressly qualified in its entirety by this notice.

Source: MedMen Enterprises

The Cybersecurity Market in Latin America – Outlook to 2023 –

DUBLIN–()–The “Latin America Cybersecurity Market (2018-2023)” report has been added to‘s offering.

With increased internet penetration, cyberattacks are becoming more powerful, allowing hackers greater access to new technology. One such example is the production a malware called ‘Flame’.

The Latin America cybersecurity market is anticipated to grow at an overall compound annual growth rate (CAGR) of 12.3% and will be worth of USD 20.65 Bn by 2023.

For the majority of the security software providers, Latin America is an important market owing to its currently fragile cybersecurity infrastructure. In 2016, Latin America generated only 7.9% of the global revenue in the cybersecurity market.

By countries, Brazil is one the largest economies in the Latin America region. The country is undergoing a digital revolution-over 50% of the population has internet access. It had also faced severe cyberttacks during the summer Olympic game in 2016 that brought the country disrepute. About 8.6% of the cyberattacks were initiated from within Brazil. Brazil ended up providing a massive opportunity to cybersecurity vendors to advance their business.

By solution, Identified and access management dominates the market. The Brazilian e-government services are facing problems with regard to ID entity management because they do not have National Strategy for digital identity management. This is driving the adoption of IAM to achieve these goals.

Key Growth Factors

  • The growth of the digital economy in Latin America is making it necessary for countries to update their cybersecurity policies and take essential technical measures to safeguard privacy.
  • Cities across Latin America are making extensive use of IoT to ease day-to-day transactions. This creates huge opportunities for cybersecurity solution providers to improve their products and provide highly secured solutions.

Key Topics Covered

Chapter 1. Executive Summary

Chapter 2. Latin America Cybersecurity Market

Chapter 3. Latin America Cybersecurity Market – by Industries

Chapter 4. Latin America Cybersecurity Market – by Solution

Chapter 5. Latin America Cybersecurity Market- by Countries

Chapter 6. Key Player Company Profiles

  • Symantec
  • Avast
  • McAfee
  • CA Technologies
  • Kaspersky Lab
  • Trustwave

Chapter 7. Conclusion

For more information about this report visit—Outlook-2023/?feedref=JjAwJuNHiystnCoBq_hl-bV7DTIYheT0D-1vT4_bKFzt_EW40VMdK6eG-WLfRGUE1fJraLPL1g6AeUGJlCTYs7Oafol48Kkc8KJgZoTHgMu0w8LYSbRdYOj2VdwnuKwa

Latin America Surgical Staplers Market (2018-2023) –

DUBLIN–()–The “Latin America Surgical Staplers Market (2018-2023)” report has been added to‘s offering.

The Latin America surgical staplers market is expected to grow at a CAGR of 6.7%, leading to a revenue of USD 0.21 Bn by 2023.

Most countries in Latin America are experiencing epidemiologic and nutrition transitions. The epidemiologic transition is characterised by a shift from highly infectious diseases and mortality to increase of non-communicable diseases. The nutrition transition is due to a shift from high prevalence of malnutrition to predominance of diet-related non-communicable diseases like obesity. Obesity increases the probability of having heart problems due to rise in cholesterol level, etc., thereby raising the possibility of requiring cardiac surgeries as well as bariatric surgeries for stomach fat reduction.

The ageing of Mexico’s population and an increase in chronic diseases such as cancer and diabetes (at 56 percent and 219 percent, respectively, between 1980 and 2011), are driving up demand for surgeries in Latin America. Also, there is a surge in health insurance penetration in the region of late. In 2016, AON announced a deal to acquire Admix to build its position in the growing private health insurance market in Latin America. All the above factors are driving the growth of the surgical staplers market in the region.

The Latin America surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The manual surgical staplers dominated the market share in 2017 while the reusable surgical is expected to grow at a higher CAGR during the forecast period (2018-2023).

The Latin America surgical staplers market is further segmented based on its applications – abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries. In 2017, the general surgeries segment held the biggest share of the market.

Companies Featured

  • Johnson & Johnson
  • B Braun
  • 3M
  • Dextera Surgical
  • Intuitive Surgical
  • Medtronic
  • Grena Ltd.

Key Topics Covered

Chapter 1. Executive Summary

Chapter 2. Introduction

Chapter 3. Latin America Surgical Staplers Market Overview

Chapter 4. Latin America Surgical Staplers Market Segmentation – by Product

Chapter 5. Latin America Surgical Staplers Market Segmentation – by Type

Chapter 6. Latin America Surgical Staplers Market Segmentation – by Application

Chapter 7. Latin America Surgical Staplers Market – Major Segments Overview by Countries

Chapter 8. Competitive Landscape

Chapter 9. Conclusion

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Maxion Wheels va exposer des roues légères pour véhicules commerciaux leader sur le marché au salon REIFEN 2018

KÖNIGSWINTER, Allemagne–()–Maxion Wheels, le plus grand producteur de roues au monde, a annoncé aujourd’hui sa participation à REIFEN, l’évènement majeur de l’industrie des pneus et des roues en Europe, du 11 au 15 septembre 2018, dans le Hall 12.1 / Stand D24. Pour la toute première fois, REIFEN se tiendra en parallèle avec Automechanika Frankfurt au Messe Frankfurt.

« REIFEN est l’évènement de premier plan des fabricants et des revendeurs européens de pneus et de roues qui nous rassemble pour nous donner l’occasion de nous rencontrer et de collaborer sur les thèmes importants de l’innovation, du service et de la livraison sur le marché secondaire », a déclaré Mark Gerardts, vice-président chargé du marketing et des ventes mondiales chez Maxion Wheels. « Après un lancement extrêmement populaire auprès des équipementiers de camions et de remorques en 2017, nous sommes ravis de fournir la roue en acier de production en série la plus légère de l’industrie à nos distributeurs du marché secondaire. Cette roue, et plusieurs autres, y compris la nouvelle roue pour véhicules blindés industrielle tubeless et tube type à large base 10,00W-20 sont d’excellents exemples de nos efforts continus visant à fournir nos innovations multi-application d’équipement d’origine au marché des revendeurs. »


Maxion Wheels, une division d’IOCHPE-MAXION S.A., est un important fabricant de roues pour voitures particulières, camions légers, bus, poids lourds et remorques. La société fabrique également des roues destinées aux véhicules militaires et agricoles, ainsi qu’à d’autres applications hors route. Avec une expérience de plus de 100 ans dans la fabrication de roues et un effectif de 10 000 employés à travers le monde, Maxion est le plus important fabricant international de roues, produisant près de 56 millions de roues par an. La société dessert ses clients fabricants d’équipements d’origine, à l’échelle mondiale, depuis ses 28 sites d’activité, basés dans 15 pays sur cinq continents, et elle dispose de centres techniques de pointe dans les Amériques, en Europe et en Asie. Pour en savoir plus, consultez le site Web de Maxion Wheels à l’adresse

Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

Maxion Wheels präsentiert auf der REIFEN 2018 marktführende Räder für leichte Nutzfahrzeuge

KÖNIGSWINTER, Deutschland–()–Maxion Wheels, der weltweit größte Hersteller von Rädern, kündigte heute seine Teilnahme an der REIFEN, die wichtigste Veranstaltung der Reifen- und Räderindustrie in Europa, an, wo das Unternehmen vom 11. bis 15. September 2018 in Halle 12.1 an Stand D24 zu finden sein wird. Die REIFEN findet erstmals gemeinsam mit der Automechanika Frankfurt auf dem Messegelände Frankfurt statt.

„Die REIFEN ist die führende Veranstaltung für europäische Reifen- und Radhersteller sowie ihre Vertriebspartner. Hier können wir unter einem Dach zusammenkommen und gemeinsam wichtige Aftermarket-Themen wie Innovation, Service und Lieferung besprechen“, so Mark Gerardts, Vice President für Global Sales und Marketing bei Maxion Wheels. „Im Anschluss an die sehr erfolgreiche Markteinführung für Erstausrüster von Lkws und Anhängern im Jahr 2017 freuen wir uns nun, das branchenweit leichteste massenproduzierte Stahlrad auch unseren Aftermarket-Händlern zugänglich zu machen. Dieses Rad ist neben anderen, einschließlich unseres neuen 10.00W-20 Breitschlauchreifens und schlauchlosen Schwerlastrads für gepanzerte Fahrzeuge, ein hervorragendes Beispiel für unsere anhaltenden Bemühungen, unsere OE-Mehrzweckinnovationen auf den Reseller-Markt zu bringen.“


Maxion Wheels ist Teil der Gruppe IOCHPE-MAXION S.A. und führender Hersteller von Rädern für Personenkraftwagen, Leichtlastkraftwagen, Busse, gewerbliche Lastwagen und Anhänger. Das Unternehmen produziert auch Räder für Landwirtschafts- und Militärfahrzeuge, sowie sonstige Off-Highway-Anwendungen. Mit über 100 Jahren Erfahrung in der Produktion von Rädern und insgesamt 10.000 Beschäftigten weltweit ist Maxion der größte Radhersteller mit einer Jahresproduktion von 56 Millionen Rädern. Das Unternehmen beliefert seine Erstausrüster-Kundschaft ausgehend von 28 Standorten in 15 Ländern auf fünf Kontinenten und verfügt über modernste Technikzentren in Nord- und Südamerika, Europa und Asien. Weitere Informationen zu Maxion Wheels erhalten Sie auf der Webseite des Unternehmens, unter

Die Ausgangssprache, in der der Originaltext veröffentlicht wird, ist die offizielle und autorisierte Version. Übersetzungen werden zur besseren Verständigung mitgeliefert. Nur die Sprachversion, die im Original veröffentlicht wurde, ist rechtsgültig. Gleichen Sie deshalb Übersetzungen mit der originalen Sprachversion der Veröffentlichung ab.

Polytetrafluoroethylene (PTFE) Market Estimates & Forecasts 2016-2024 – Global Strategic Business Report 2018 With Focus on the US Industry –

DUBLIN–()–The “Polytetrafluoroethylene (PTFE) – Global Strategic Business Report” report has been added to‘s offering.

The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, China, Asia-Pacific, Latin America and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets.

This report analyzes the worldwide markets for Polytetrafluoroethylene (PTFE) in Tons by the following End-Use Industries:

  • Automotive & Transportation
  • Chemical Processing
  • Electrical & Electronics
  • Mechanical & Industrial
  • Consumer Appliances
  • Others

The US market is further analyzed by the following End-Use Applications:

  • Coatings & Liners
  • Films
  • Mechanical Parts & Components
  • Others

The report profiles 25 companies including many key and niche players such as:

  • 3M (USA)
  • Asahi Glass Company Limited (Japan)
  • AGC Chemicals Americas, Inc. (USA)
  • Chenguang Research Institute of Chemical Industry (China)
  • Daikin Industries Ltd. (Japan)
  • Daikin America, Inc. (USA)
  • Dongyue Group Limited (China)
  • Gujarat Fluorochemicals Limited (India)
  • HaloPolymer, OJSC (Russia)
  • Juhua Group Corporation (China)
  • Saint-Gobain Performance Plastics Corporation (USA)
  • Shanghai 3F New Material Co., Ltd. (China)
  • Solvay (Belgium)
  • The Chemours Company (USA)

Key Topics Covered:

1. Introduction, Methodology & Product Definitions

2. Industry Overview

3. Growth Drivers, Trends & Issues

4. Fluoropolymers Market – A Review

5. Product Overview

6. Competitive Landscape

7. Global Market Perspective

8. Regional Market Perspective

9. Company Profiles

  • Total Companies Profiled: 25 (including Divisions/Subsidiaries – 28)
  • The United States (10)
  • Japan (2)
  • Europe (6)
    • France (1)
    • The United Kingdom (1)
    • Rest of Europe (4)
  • Asia-Pacific (Excluding Japan) (10)

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Symantec Confirms Receipt of Director Nominations

MOUNTAIN VIEW, Calif.–()–Symantec Corp. (NASDAQ: SYMC) today issued the following statement in response to the submission by Starboard Value (“Starboard”), of five nominees to stand for election to the Symantec Board of Directors at Symantec’s 2018 Annual Meeting of Stockholders (“2018 Annual Meeting”).

Symantec maintains open communications with its stockholders and values constructive input that advances the goal of creating value for all stockholders. Over the last several weeks, we have had a dialogue with Starboard and we plan to continue these discussions.

The Nominating and Governance Committee of the Symantec Board (the “Committee”) is responsible for identifying individuals qualified to become members of the Symantec Board and recommending to the Board the director nominees to be put before stockholders at each annual meeting. To that end, the Committee is evaluating the nominations put forth by Starboard consistent with established policies.

The Company’s 2018 Annual Meeting has not yet been scheduled. As previously disclosed, the Audit Committee of the Company’s Board of Directors is conducting an internal investigation. The Company intends to finalize and file its financial statements with the U.S. Securities and Exchange Commission (“SEC”) following completion of the investigation and subsequent procedures by the Company’s independent public accounting firm, at which point Symantec will schedule its 2018 Annual Meeting and file its proxy materials with the SEC. The Company’s Board of Directors will present its formal recommendation to stockholders regarding director nominations in the Company’s proxy statement. Stockholders do not need to take any action at this time.

Goldman Sachs & Co. LLC is serving as financial advisor and Fenwick & West LLP is serving as legal advisor to Symantec.

About Symantec

Symantec Corporation (NASDAQ: SYMC), the world’s leading cybersecurity company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats. For additional information, please visit or connect with us on Facebook, Twitter, and LinkedIn.

Forward-Looking Statements

This press release contains statements which may be considered forward-looking within the meaning of the U.S. federal securities laws, including the statements regarding the outcome of ongoing discussions with Starboard, the future composition of Symantec’s Board of Directors, the timing and outcome of the ongoing Audit Committee investigation, and the filing of Symantec’s periodic reports and proxy statement with the SEC. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include, but are not limited to, risks relating to the uncertainties regarding future actions that may be taken by Starboard in furtherance of its stated intention to nominate director candidates for election at the 2018 Annual Meeting, the effects on the Company of Board and management engagement with Starboard, the risk that the Audit Committee investigation may take longer to complete than expected, the risk that the Audit Committee investigation identifies errors, which may be material or which impact the timing of Company filings, and the risks associated with legal proceedings or government investigations relating to the subject matter of the Audit Committee investigation or related matters. Additional information, including other risk factors, is contained in the Risk Factors sections of Symantec’s most recent reports filed with the SEC on Form 10-K and Form 10-Q. Symantec assumes no obligation, and does not intend, to update these forward-looking statements as a result of future events or developments.

Important Additional Information and Where to Find It

Symantec plans to file with the SEC and mail to its stockholders a proxy statement and accompanying solicitation materials in connection with the 2018 Annual Meeting. The proxy statement will contain important information about Symantec, the 2018 Annual Meeting and related matters. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE ACCOMPANYING SOLICITATION MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION.

Symantec, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the matters to be considered at the 2018 Annual Meeting. Information regarding the names of the Company’s directors, nominees and executive officers and their respective interests in Symantec will be set forth in the proxy statement and accompanying solicitation materials and in their respective Section 16 filings made after the date of the proxy statement. These documents (when they become available), and any and all documents filed by Symantec with the SEC, may be obtained by investors and stockholders free of charge on the SEC’s website at Copies will also be available at no charge on the Symantec’s website at

Dollar General Corporation Scheduled to Host Second Quarter 2018 Earnings Conference Call on August 30, 2018

GOODLETTSVILLE, Tenn.–()–Dollar General Corporation (NYSE: DG) today announced that it plans to release its financial results for the fiscal 2018 second quarter on Thursday, August 30, 2018.

In connection with the release, Todd Vasos, chief executive officer, and John Garratt, chief financial officer, will host a conference call at 9:00 a.m. CT/10:00 a.m. ET on the same day.

To participate via telephone, please call (877) 868-1301 at least 10 minutes before the conference call is scheduled to begin. The conference ID is 6591008. There will also be a live webcast of the call available at under “News & Events, Events & Presentations.” A replay of the conference call will be available through Thursday, September 13, 2018, and will be accessible via webcast replay or by calling (855) 859-2056. The conference ID for the telephonic replay is 6591008.

About Dollar General Corporation

Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. In addition to high-quality private brands, Dollar General sells products from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo. Learn more about Dollar General at

Ignore Trump and Musk — here’s how to find companies whose CEOs think long term

Whether you’re a fan of Tesla CEO Elon Musk or you think he’s just a nutjob, you owe him some gratitude as an investor.

That’s because he’s spotlighting an issue that regularly costs long-term investors a lot money: the tyranny of quarterly earnings reports.

The problem here is that quarterly reports enable investors and traders who like to impose their short-term thinking on CEOs to earn a quick buck — by pressuring CEOs to maximize near-term profits. This can hurt investors who are in it for the long haul.

Read: SEC studying frequency of corporate reporting after Trump tweet

Heaven forbid a CEO sacrifices near-term earnings to fund some cockamamie “visionary” plan that just might change an entire sector. The truth is, though, long-term thinking can be an investor’s best friend, as Warren Buffett loves to point out. The obsession with quarterly earnings reports gets in the way.

“They are really not good measures for a lot of public companies,” says Patrick McGurn, special counsel for Institutional Shareholder Services, which offers analysis that helps institutional investors make proxy voting decisions. “You want to look at what a company is going to do over the course of the cycle.”

Or longer, in the case of a pioneering entrepreneur like Musk. Musk now wants to take electric-car maker Tesla
TSLA, -8.93%
private, in part, to get away from the focus on quarterly results — and the obsession with inevitable short-term stumbles — by short-term thinkers.

But going private is a radical solution. It cuts off a company from market funding. And it will take Tesla shares out of the hands of Musk’s many true believers who now own the stock.

How autocratic leaders can help investors

Many companies take a more moderate approach to shutting down the short-term noise. They use dual share classes that concentrate voting power in the hands of a few people — often the founders. Or else founders own huge stakes, giving them enough voting clout to tune out the short-term thinkers.

Yes, these measures seem autocratic and undemocratic. So they are controversial. But they can actually pay off big time for investors.

Back in 2011-2012, for example, I suggested Amazon
AMZN, -0.23%
FB, -0.52%
and Alphabet
GOOGL, -0.67%
in my stock newsletter, Brush Up on Stocks, when they were out of favor, in part because each had ownership structures that shielded them from the threat of takeovers and interference by activists. But this gave founders the power to brush off investor concerns about a lack of near-term profits, and invest in strategic plans.

Those stocks have all been great outperformers since then — up fivefold or more. Amazon has advanced almost 10-fold.

Those worked out, but autocratic ownership isn’t always good. For every Mark Zuckerberg or Jeff Bezos, there’s a management entrenched by a mechanism such as special share classes or devices that make it hard to change boards. Protected from the threat of takeover, bad managers can milk companies for extravagant pay or give juicy contracts to friends at the expense of shareholders, cautions McGurn, at Institutional Shareholder Services.

As an investor, how do you navigate this mess? What’s the best way to identify companies that have shielded themselves from short-term thinking, but don’t track the downside of entrenched management into your portfolio?

Here are the three solutions

1. Know your autocratic managers

When companies have dual share classes that give management concentrated voting power, don’t run away. Instead, hear them out so you can decide whether they have a long-term plan that makes sense. Listen to their earnings calls and study their filings.

You won’t always get it right. But good CEOs with concentrated voting power realize they have to explain what they are up to. And they spend a lot of time doing so. “They know they can’t just go to market and say ‘trust us,’ ” says Bryan Hinmon, portfolio manager of the Motley Fool Global Opportunities Fund
FOOLX, +0.28%

Back in 2012 when Facebook, Amazon and Google were getting bashed for sacrificing near-term profits to fund long-term plans, CEOs and top managers were making a good case in earnings calls that their strategies made sense.

Around this time, Facebook’s Zuckerberg was trying to get mobile right because he knew it was the future for social media. He took a lot of heat, but he turned out to be right. Google was fine tuning Android and fiddling with self-driving cars. Android now helps Google better target ads. Autonomous vehicles seemed weird at the time, but they may be the next big trend in automobiles.

And back then, Bezos was building out server farms that eventually powered Amazon’s AWS cloud services, a key source of profits now.

“It is funny to think back that everybody was so upset with Bezos for not sticking with trying to be the world’s best online bookstore,” says Lamar Villere, portfolio manager of the Villere Balanced Fund
VILLX, +0.24%

Hinmon, at Motley Fool, cites Atlassian
TEAM, -0.10%
in messaging and collaboration software, and Watsco
WSO, +1.19%
in heating and air-conditioning equipment, as companies he owns where concentrated voting power helps managers pursue long-term strategies that benefit investors, even at the expense of short-term gains.

Here’s are a few shortcuts to help you identify the autocratic managers who are on your side because they think and invest long term.

• Favor founder-run companies because they often outperform. This makes sense. Founders are driven by the desire to build companies, as opposed to simply getting rich. Their passion for building does not go away once they make billions. So it’s easier to trust them than run-of-the-mill managers who never founded a company but have concentrated voting powers.

• Look for companies where top managers and founders own lots of the stock. As examples, Albert Meyer, portfolio manager at Bastiat Capital, cites Tencent
TCEHY, +3.37%
IPGP, -1.07%
Checkpoint Software Technologies
CHKP, +0.55%
SEB, +0.42%
REGN, +0.67%
 and Amerco
UHAL, +0.49%

• Be wary when top managers have special voting rights and proportionally less money in the stock, says McGurn, at ISS. This can happen, for example, when managers own special shares that give them 10 votes per share. When managers have little capital at risk but a lot of voting power, that can lead to mischief. Those managers have probably filled the board with cronies. So there could be poor board oversight.

2. Favor companies that suspend quarterly guidance

President Donald Trump wants companies to report earnings just twice a year. This is a bad idea. Moving to twice yearly reports like those used in a lot of foreign countries cuts down on news flow.

“As an investor, you ignore information at your own peril,” says Hinmon. “Having new information to update your thinking is critical.” Meyer, at Bastiat Capital, regularly buys shares of foreign companies but he says he feels less secure in companies that don’t provide quarterly updates.

A compromise here is for companies to eliminate quarterly guidance. You should favor companies that do this, because it gives managers more latitude to focus on the long term.

BRK.B, +0.28%
 Buffett and J.P. Morgan
JPM, +0.00%
 CEO Jamie Dimon recently called on CEOs to reduce “short-termism” by asking them to stop quarterly guidance. They said it often leads to “an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability,” in a Wall Street Journal op-ed. Companies frequently hold back on technology or research-and-development spending to meet guidance shortfalls caused by factors outside their control like bad weather, believes Buffett.

A 2006 McKinsey study concluded earnings guidance does nothing to help shareholders. But it distracts managers. Invest in companies that don’t mess with guidance, and you’ll know managers don’t have this distraction.

3. Favor companies whose CEOs are paid by stock returns

In 2010, I asked John Morgan, the CEO of a little company called Winmark
WINA, +0.24%
why he was buying so much of his company’s stock. He told me he didn’t get paid via stock options. So buying stock was how he wanted to get exposure to upside from his efforts to develop an equipment-leasing business at Winmark.

I liked that he was using his own money to align himself with shareholders. And he had spent a career in this business before launching it inside Winmark, a retailer at the time. So I suggested Winmark in my stock newsletter in June 2010. It traded at $29 then, and now it’s at $148, for 410% gains.

The key lesson here? When CEOs take little or no pay and they get a lot of their reward through stock exposure, it’s a good sign they are thinking long term.

A good example right now is Axon Enterprise
AAXN, +2.38%
(formerly Taser), says Villere, whose Villere Balanced Fund owns the stock. Earlier this year, founder and CEO Patrick Smith zeroed out his salary for 10 years. Instead, he’ll get rewarded via equity grants that vest in increments as Axon hits profitability and market-cap targets. The stock grants won’t fully vest unless Axon’s market cap rises 10-fold.

“Here’s a guy who is clearly playing the long game, and backing it up by his actions,” says Villere. As an example of Smith’s long-term thinking, Villere cites Smith’s decision to give away body cameras to customers including police. This sacrifices short-term profits. But it attracts long-term customers of Axon’s archiving, cloud and software services that support use of the body cameras.

Ironically, Smith’s no-salary plan is modeled after a similar one used by Musk at Tesla. In Musk’s plan, his option grants only pay out (big time) if Tesla hits aggressive market-cap and profitability milestones over 10 years. That’s a clear sign that Musk is thinking and investing in Tesla for the long haul, which will likely benefit long-term investors in Tesla’s stock.

Too bad they won’t get that payoff if Musk succeeds in taking the company private to shut down the noise from the short-term thinkers.

At the time of publication, Michael Brush had no positions in any stocks mentioned in this column. Brush has suggested TSLA, AMZN, FB, GOOGL and WINA in his stock newsletter, Brush Up on Stocks. Brush is a Manhattan-based financial writer who has covered business for the New York Times and The Economist Group, and he attended Columbia Business School in the Knight-Bagehot program.

HUD brings complaint against Facebook for allowing housing discrimination on platform

Fixes description of the legal action HUD brought against Facebook.

The Department of Housing and Urban Development brought a complaint against Facebook
FB, -0.52%
for violating the Fair Housing Act by allowing landlords and home sellers to use its advertising platform to engage in housing discrimination. Facebook enables advertises to display ads either only to men or women, not show ads to Facebook users interested in an “assistance dog,” “mobility scooter,” “accessibility” or “deaf culture”; not show ads to users whom Facebook categorizes as interested in “child care” or “parenting,” or show ads only to users with children above a specified age; not display ads to users whom Facebook categorizes as interested in a particular place of worship, religion or tenet, such as the “Christian Church,” “Sikhism,” “Hinduism,” or the “Bible;” not show ads to users whom Facebook categorizes as interested in “Latin America,” “Canada,” “Southeast Asia,” “China,” “Honduras,” or “Somalia;” and draw a red line around zip codes and then not display ads to Facebook users who live in specific zip codes. The U.S. Attorney for the Southern District of New York filed a statement of interest, joined in by HUD, in U.S. District Court on behalf of a number of private litigants challenging Facebook’s advertising platform.

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Why real-estate investors should still steer clear of Turkey even as the lira rebounds

The devaluation of the Turkish lira
USDTRY, +3.2826%
 may make real estate in cities like Istanbul and Ankara seem like a bargain for foreign investors, but scooping up property in Turkey could still be a fool’s errand even as the currency stabilizes.

Concerns about Turkish President Recep Tayyip Erdogan’s leadership and the country’s worsening relationship with the U.S. and the European Union sent the Turkish lira
EURTRY, +3.8916%
 reeling to historically low values at the start of the week.

Amid these dramatic fluctuations, some pointed to Turkish real estate as a major buying opportunity. Foreign investment in Turkish real estate has surged in recent years.

Developers sought to capitalize on renewed interest in Istanbul and the improved tourism industry in the country, particularly along the Black Sea. The number of tourists visiting Turkey increased 31% year-over-year during the first five months of 2018, according to data from the country’s Culture and Tourism Ministry.

The lira has recovered some on the news that the Qatari government plans to invest $15 billion in Turkey. But Turkey imposed tariffs on U.S. imports after President Trump placed sanctions on the country for not freeing a pastor facing prison time over terrorism charges. Either way, buyers may still be better off turning their attention elsewhere.

Here are some reasons why Turkish real estate may still be too risky a gamble:

Housing in Turkey could be a bubble

There is some disagreement as to whether the Turkish real-estate market shows signs of a bubble ready to burst or if it is just displaying isolated pockets of over-valuation.

Nevertheless, observers have been warning of a bubble since last fall. One of the main concerns is how Erdogan funneled money toward property developers in an effort to boost economic activity and housing construction in the country.

But with home prices falling due to the devalued lira, and construction costs soaring thanks to a stronger dollar, many Turkish homebuilders have been facing the threat of bankruptcy, English-language publication Ahval News reported.

Last May, Turkish lenders were lowering mortgage rate, the government cut certain taxes and real estate firms slashed prices in an attempt to spark more home sales. At that time, the country had around 2 million unsold homes.

Moreover, many properties, particularly in popular markets like Istanbul, are owned by foreign investors who may be inclined to cash out if the economic situation worsens. That could trigger a scramble to the bottom, which could erase the strides the country’s real-estate market had made.

Read more: The U.S. is about to add even more cities with a median home value of $1 million

“When I hear Erdogan accuse his central bank chief of ‘treason’ if he dared to raise interest rates or fulminate against bankers as ‘evil forces in the economy,’ I know the Turkish lira will continue to depreciate against the US dollar.”

Matein Khalid, a Dubai-based global equities strategist and fund manager

The currency could remain unstable for the foreseeable future

Turkey’s economy rests on a shaky foundation. Erdogan has pressured government officials to avoid taking measures that could combat the inflation risk that has plagued the country, raising alarm among observers. “When I hear Erdogan accuse his central bank chief of ‘treason’ if he dared to raise interest rates or fulminate against bankers as ‘evil forces in the economy,’ I know the Turkish lira will continue to depreciate against the U.S. dollar,” Matein Khalid, a Dubai-based global equities strategist and fund manager, wrote earlier this year in the Khaleej Times, an English-language publication in the United Arab Emirates.

Despite maintaining one of the largest trade deficits in Europe and the Middle East, Turkey’s Treasury and Finance Minister Berat Albayrak said he won’t impose capital controls during a call with investors earlier this week, Bloomberg reported. That prompted economists such as Mohamed El-Erian, chief economic adviser to Allianz SE, to call for a reduction in Turkish investment. An exodus on high-net worth investors though could only cement the country’s financial strife.

Consequently, those who were to invest could find themselves facing a long haul. “A stronger dollar does tend to put emerging-market economies under stress, so we could see more currency volatility,” said Danielle Hale, chief economist at “You might have to end up keeping that investment for a longer term than you anticipated.”

Turkey’s political situation is very tumultuous

The Trump administration has continued to threaten to institute more sanctions on Turkey if the country does not release an American pastor who is currently being held in custody. “You don’t want to tie your money up in a country that could be facing very serious sanctions and potentially the continued devaluation of your money,” said Edward Mermelstein, a real-estate attorney who specializes in foreign and luxury real-estate investments.

The political risk in Turkey doesn’t just stem from the country’s foreign relations. Kurdish separatist groups and extremists aligned with ISIS have perpetrated multiple terrorist attacks across the country over the past few years. And these attacks, if they continue, could threaten the value of properties located in the areas that are targeted.

But perhaps the biggest political risk lies with Erdogan. Following a failed coup in 2016, Erdogan has consolidated his power and made gestures that suggest he could be setting himself up to rule the country for the remainder of his life, Mermelstein said. Already this has soured the country’s relationship with European governments.

“It’s not looking any different from what we’ve seen at the Kremlin or in Venezuela,” Mermelstein said. “It’s a political situation that leads to tremendous economic instability.”

Also see: Only one generation of Americans has fully recovered from the housing crash

The political risk in Turkey doesn’t just stem from the country’s foreign relations. Kurdish separatist groups and extremists aligned with ISIS have perpetrated multiple terrorist attacks across the country over the past few years. And these attacks, if they continue, could threaten the value of properties located in the areas that are targeted.

Cronyism may thrive at the local level if Turkey becomes more autocratic

As Turkey becomes more insulated from the international community, local officials will gain more sway and could become emboldened to profit off the misfortune of foreign investors. For instance, in Russia Mermelstein said his clients have been denied approval to redevelop real-estate holdings by local governments.

“The local government refused to allow construction, and then you had local competitors come in and make lowball offers saying that you’ll never be able to do anything with this property unless you accept this offer,” Mermelstein said.

Moreover, Turkey could institute laws that make it more difficult to pull money out of the country if the financial exodus escalates, which could tie up investors’ assets that might otherwise have been more liquid if they had invested in another country.

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REN Using Kalkitech Sync Platform at Substations for Automated Disturbance Record Collection and Data Conversion

BANGALORE, India–()–Kalkitech, a global leader in solutions that simplify field data collection, protocol translation, and IT-OT transformation for utilities, announced Redes Energéticas Nacionais, S.A. (REN) has installed an automated file collection solution for its transmission network. It is used to automatically supply near-time data to an automated fault analysis and protection behavior software application. The solution utilizes Kalkitech’s SYNC 3000 Substation Data Concentrator in 64 out of a total of 82 substations located throughout the utility’s coverage area to collect data from multiple vendors and multiple types of protection relays which use several different communication protocols.

SYNC 3000 collects disturbance record data using standard protocols like IEC 61850 and IEC 60870-5-103 as well as proprietary protocols like ABB SPA Bus and Alstom Courier. In the cases where data is not originally in a COMTRADE format, SYNC 3000 makes the required conversion into this standard format. An IEEE recommendation for file naming convention is also made available for better file archiving. COMTRADE files are then automatically sent to a central server at REN headquarters.

In addition to disturbance data collection and file conversion, SYNC 3000 builds remote communications for the protection relays using proprietary master-slave serial protocols, that overrides the disturbance data collection mechanism and gives high priority to vendor software for remote access to the protection relays. In some cases, SYNC 3000, which is time synchronized by redundant NTP servers, synchronizes protection relays in their proprietary protocol.

To simplify and accelerate analysis of fault events, to improve fault location and analyze protection and circuit breaker behavior using a dedicated analytics software tool, REN wanted to install an automatic fault recording file collection solution. They wanted to aggregate the data in COMTRADE format, converting it from a variety of proprietary and standard protocols.

Infocontrol, Kalkitech’s system integration partner in Portugal, worked closely with Kalkitech and REN to define, test and implement a fault file collection solution that met all of the utility’s requirements. A successful pilot was conducted in several substations to test Kalkitech’s gateways for its IED disturbance data collection and protocol translation abilities. A tender to install the solution at 64 substations was won by Infocontrol. To date, deployment of the SYNC 3000 has been completed in over 55 of REN’s substations.

“We have many utility customers that select our SYNC 3000 to aggregate and convert data into an industry standard format for a wide range of applications including fault file collection and protocol conversion,” said Prasanth Gopalakrishnan, CEO, Kalkitech. “We uniquely support nearly 100 communication protocols and strive to keep pace with the evolution of these as well as related standards and technologies including cyber security.”

Kalkitech will be demonstrating its solutions at PAC World Americas, Booth #11, in Raleigh, North Carolina, August 21-23 and CIGRE 2018, Stand #131, in Paris, France, August 26-31.

About Kalkitech

Kalkitech is a global leader in development and delivery of vendor agnostic products and services that securely bridge the data communications gap between legacy and intelligent power utility field devices and head-end systems. By transforming and accelerating accessibility to real-time data and analytics, our solutions help utilities improve system reliability and operational efficiencies while extending the life of legacy SCADA systems.

For more information, visit Follow us on Twitter and LinkedIn. Check out our videos on YouTube to learn more.

Experian Launches Powerful Analytics Solution to Help Businesses Harness the Benefits of Big Data

LONDON–()–Experian has launched a new analytics solution in the UK to help organisations make fast, reliable decisions with deeper insight than ever before. Experian Ascend Analytics on Demand is an integrated data and analytics platform which offers cutting-edge insights to businesses of all sizes.

The UK launch follows a successful introduction in North America. Ascend allows Experian’s clients to access a full range of Experian’s anonymised trended data, delivering results securely in real time in a range of formats to suit the user’s preference.

Enabled by open-source technology, the platform allows users to build their own predictive models to develop business strategies, including machine learning and Artificial Intelligence techniques, and make decisions.

The Ascend launch marks the first time this level of tailored self-service and instant analysis has been available to in-house analytics teams.

Tom Blacksell, Managing Director of B2B at Experian, said: Businesses must be able to call upon and understand a range of data assets to compete in today’s economy. Ascend brings the very latest in analytical innovation to help them turn vast quantities of data into actionable insights. Leading in turn to more accurate and well-informed decisions, and ultimately bringing better services to market, more quickly, and increasing their revenues.”

Experian’s combination of data, technology and analytics helps businesses unlock insights and take decisive actions in the moments that matter. Bringing unique scale, speed and intelligence that deliver the best results for both businesses and their customers.

Ascend is an integral part of a suite of market leading Experian innovations, all of which will accelerate the ability of UK businesses to harness the full potential of big data.

Experian Ascend Analytics on Demand is being rolled out across UK&I and EMEA in the Autumn. Organisations can register interest here.

The launch comes as research shows organisations are struggling to extract the full potential of the data available to them despite the variety of advanced analytics available. Experian’s Business Review found only one in three businesses currently use advanced analytics techniques and technologies to develop a deeper, more meaningful understanding of their data.

Just 29% combine both traditional and non-traditional data sources to gather more insight. Two in five businesses still rely on instinct and subjective opinion to make decisions.

However, 78% of organisations have made investments in advanced analytics to ensure they can deliver better business outcomes, while 71% plan to enhance analytics capabilities in the next 12 months – making it one of the biggest priorities overall.

To read the full results of the research, click here.

– ENDS –

About the research

This Technology Adoption Profile was commissioned by Experian. The custom survey questions were fielded to 590 C-level professionals (26%) and functional leaders (74%) in Europe, the Middle East, Russia, and South Africa. The study focused on traditional brick-and-mortar organisations in the financial services, retail, and telecommunications industries. Respondents were responsible for, or had a significant role in, the decision-making process for enterprise risk, analytics, customer data management, fraud management, and customer data management. The auxiliary custom survey was completed in June 2017. For more information on Forrester’s data panel and Tech Industry Consulting services, visit

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 16,500 people operating across 39 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at or visit our global content hub at our global news blog for the latest news and insights from the Group. Becomes First Identity Provider to Be Approved as NIST 800-63-3 Conformant

MCLEAN, Va.–()–, the next generation identity platform, is announcing today that it has been granted Approval by the Kantara Initiative’s Board of Directors as a full Credential Service Provider conformant to NIST’s recently issued Special Publication (SP) 800-63-3 guidelines at Identity Assurance Level 2 (IAL2) and Authenticator Assurance Level 2 (AAL2). is the first Credential Service Provider to be recognized under Kantara’s new NIST 800-63 rev.3 Class of Approval, reinforcing’s leading place in the identity ecosphere. Kantara is the leading global consortium improving trustworthy use of identity and personal data through innovation, standardization and good practice.

In addition to the NIST 800-63-3 IAL2 / AAL2 credentialing service available today, will extend its IAL2 / AAL2 infrastructure to government agencies and healthcare organizations as a white label service, starting in 2019.

The new NIST digital identity guidelines are vital for security, citizen access and interoperability across government and healthcare. Federal agencies are expected to meet the requirements of, and be in compliance with, the new NIST guidelines for all new and existing citizen-facing applications that require a high degree of trust. In healthcare, the Drug Enforcement Administration (DEA) requires NIST 800-63 compliant credentials for healthcare providers to electronically prescribe controlled substances. Moreover, the U.S. Department of Health and Human Services (HHS) is working on the Trusted Exchange Framework and Common Agreement set for publication in late 2018 to define standards for interoperability between healthcare systems. The Trusted Exchange Framework recommends the adoption of NIST 800-63-3 IAL2 / AAL2 identity guidelines for patient portals.

“The opioid crisis and a growing demand for patient-directed data exchange have created a perfect storm for trusted digital identity in healthcare. Securing the identities of prescribing physicians and the patients they treat is a critical step in fighting the opioid crisis, controlling costs and creating efficiencies in healthcare,” said Blake Hall, CEO. “With requirements like 800-63-3, the industry can trust a shared login service so users can bring their identity and data with them across websites without having to take the time-consuming and frustrating steps to re-verify their identity at each new site.” is simplifying how individuals securely prove and share their identity online. The company is building a digital identity network where users verify their identity once and never have to re-verify their identity again across any organization where is accepted — mimicking the role of their driver’s license in the physical world.

“ achieved a significant industry milestone and competitive advantage by becoming the first company to earn approval from Kantara Initiative as a Credential Service Provider conformant to the NIST 800-63-3 Digital Identity Guidelines,” said Colin Wallis, executive director, Kantara Initiative. “Kantara is the world’s premier US Federal Trust Framework Provider as part of its mission to improve the trustworthy use of identity and personal data for people to regain control in a secure, privacy-enabled connected world.”

NIST published SP 800-63-3 on June 22, 2017, outlining new identity management and digital authentication standards required to issue a secure and trusted digital credential. NIST organized credentialing guidelines around component steps with IAL2 and AAL2 replacing the previous SP 800-63-2 Level of Assurance (LoA) 3 requirements.’s new Approval is in addition to’s current Approval as a Credential Service Provider at LoAs 1, 2, and 3. currently boasts the highest LoA 3 identity verification success rates in the industry – enabling government agencies to deliver high-value services to citizens online at scale.’s high verification success rate is a result of the company’s next generation identity platform that connects to multiple authoritative databases and a focus on enabling access pathways for all demographics.

Under the new guidelines, NIST no longer accepts knowledge-based authentication (KBA) as a free-standing method to complete online identity-proofing. Large-scale data breaches have compromised the static identifiers and passwords of millions of Americans. Since the secret knowledge KBA relied upon is easily found or bought on the dark web, NIST is moving away from KBA in favor of possession-based methods of authentication. The requirements also require strong identifiers such as driver’s licenses and passports to be paired with selfies to prevent criminals from using stolen documents to claim another person’s identity online.

“To provide best-in-class capabilities to our partners, it’s essential to stay up to date with the industry’s strictest standards,” said Mike Brown, CTO of “Our platform has been accredited by the General Services Administration under the previous NIST requirements (800-63-2) since 2014. We are proud to be on the leading edge with the adoption of the new 800-63-3 guidelines and stand ready to help our federal and healthcare partners modernize their digital identity systems.”

About is the next-generation digital identity platform that provides for trusted and convenient interactions between individuals and organizations. Government agencies and commercial partners use for online identity proofing and authentication to ensure their platforms and users are protected from fraud and identity theft.’s identity platform meets the highest standards for online identity proofing and authentication, without compromising access for hard-to-identify groups. The federally-accredited platform uses a combination of remote verification of physical IDs, mobile network operator data, fraud algorithms, and FIDO U2F capabilities to securely verify a user’s identity. currently supports more than 200 partners, including federal and state agencies, healthcare organizations, financial institutions, nonprofits, and retailers. For more information, visit

About Kantara Initiative

Kantara Initiative is an ethics based, mission-led non-profit organization passionate about giving control of data back to people. It provides real-world innovation and development of specifications and conformity assessment programs for the digital identity and personal data ecosystems. Beyond its flagship eID-assisting Identity Assurance Trust Framework, developing initiatives including Identity Relationship Management, User Managed Access (EIC Award Winner for Innovation in Information Security 2014), Identities of Things, and the Consent Receipt, Kantara Initiative connects a global, open, and transparent leadership community, including CA Technologies,, Experian, ForgeRock, the Internet Society, and SecureKey Technologies. More information is available at

Follow Kantara Initiative on Twitter — @KantaraNews

Fluence Awarded First Aspiral™ Project in the Philippines

MELBOURNE, Australia & NEW YORK–()–Fluence Corporation Limited (ASX: FLC) is pleased to announce that it secured a contract for the first deployment of the Company’s packaged wastewater treatment plant in the Philippines. The project consists of two (2) Aspiral™ Smart Packaged wastewater treatment units that will be commissioned within three months.

The contract is for the supply and installation of two Fluence Aspiral™ L units at a residential development located in Manila. The Aspiral™ system will be custom-designed to treat this specific effluent, and the units in tandem will treat 400 m3/day to the stringent specifications required.

Fluence is already negotiating additional opportunities with this client for further collaboration in the region. The customer chose Fluence for this project due to the high reliability, lower energy consumption, low maintenance and small footprint of its custom, decentralized, Smart Packaged wastewater treatment solutions.

Commenting on this project, Fluence Managing Director & CEO Henry Charrabé said: “This first Aspiral™ system in the Philippines is another important step towards our goal of the global proliferation of our smart packaged treatment systems. This contract should open other local opportunities for Fluence’s MABR-based wastewater treatment solutions, a phenomenon we also observed in China, Israel and the United States. The numerous advantages of the Smart Packaged Aspiral™ solution, including advanced nutrient removal and a minimal footprint, are increasingly evident to clients looking for efficient and reliable ways to solve their wastewater challenges.”

About Fluence Corporation Limited (ASX: FLC)

Fluence has experience operating in over 70 countries worldwide and employs more than 300 highly trained water professionals around the globe. The Company provides local, sustainable treatment and reuse solutions, while empowering businesses and communities worldwide to make the most of their water resources.

Fluence offers an integrated range of services across the complete water cycle, from early stage evaluation, through design and delivery to ongoing support and optimization of water related assets. With established operations in North America, South America, the Middle East and Europe, Fluence is also expanding into China’s rural wastewater treatment market.

Global consultancy Frost and Sullivan awarded Fluence Corporation “2018 Global Decentralized Water and Wastewater Treatment Company of the Year”, noting in their award dissertation:

While typical decentralized water treatment systems are relatively expensive, complicated, and inefficient, Fluence Corporation leverages innovative and smart technology solutions backed by decades of industrial know-how to excel in water and wastewater treatment solutions. Fluence’s excellence becomes apparent through its success, as the company continues to expand its existing offerings as well as partnerships with other prominent companies in the industry. With its easy to use, sustainable, smart and cost-effective solutions as well as a remarkable year of growth, innovation, and leadership, Fluence Corporation earns Frost & Sullivan’s 2018 Global Company of the Year Award in the decentralized water and wastewater treatment industry.”

Further information can be found at

Most Professors Agree: the Economics of Higher Education in America Are Uncertain

TORONTO–()–Professors are increasingly concerned about unsustainable challenges and issues that are calling into question the economics of higher education, according to a new survey of 1,956 current professors. The annual survey was conducted by Top Hat, provider of the leading cloud-based teaching platform for higher education.

The 3rd annual 2018 Professor Pulse Survey polled nearly 2,000 higher education professors in North America and uncovered their insights and opinions on the state of higher education, the value of the university experience, and their everyday teaching and career challenges. Key findings include the following:

The ROI of higher education is increasingly being questioned.

  • Half (49 percent) of professors believe a post-secondary education is not necessary to a person’s success, up from 33 percent in 2017.
  • The cost of tuition is a significant concern, with 87 percent of professors agreeing that it’s too high, up from 80 percent in 2017.
  • Forty-one (41) percent of professors believe that maintaining or increasing academic standards is a challenge at their institution. In 2017, only one in four professors believed that to be the case.
  • One in three (32 percent) educators believes that student retention continues to be a challenge.
  • Overall, educators rate the current higher education system a 6.7 out of 10 when it comes to preparing students for their careers.

Educators are concerned about the country’s educational infrastructure.

  • Three out of four (74 percent) professors think the current U.S. federal administration is having a negative impact on the future of higher education.
  • Insufficient funding is top of mind as the greatest institutional challenge for three out of five (60 percent) professors.
  • Thirty-five (35) percent of professors also cited decreased enrollment as a top institutional challenge.

Educators are worried about student affordability, classroom engagement, and student apathy.

  • Almost all (nine out of 10) professors agree that the cost of textbooks is too high.
  • More than half (57 percent) of professors have to assign supplementary materials to make up for problems with the main course textbook, such as datedness and lack of attention to certain topics.
  • More than one in three (37 percent) don’t believe that the majority of students buy the assigned text – up significantly from 22 percent in 2017.
  • Seven out of 10 (71 percent) professors also don’t believe that the majority of students come to class prepared – up from 58 percent of professors last year.
  • When they’re in class, students are not paying attention or participating, according to half (51 percent) of respondents.
  • One in three (33 percent) professors believe students are not comprehending the material.
  • Six out of 10 (60 percent) professors think apathy among students has increased in the past decade.

At the same time, professors are feeling overworked and underpaid

  • Three out of 10 professors work more than 50 hours per week, and one-third of them work more than 60 hours.
  • Two out of five (39 percent) professors earn between $41,000 and $80,000 annually.
  • Meanwhile, when professors are asked what a fair salary would be for their work, the most popular answer is $81,000 to $100,000.

Despite the growing challenges, professors remain determined to find innovative solutions to enable active learning and improve student success.

  • The majority of professors are focused on improving active learning to drive student success, with seven out of 10 (71 percent) making classroom engagement their biggest priority.
  • Eighty-five (85) percent of professors use technology in the classroom to improve student engagement.
  • More than half (56 percent) of professors factor in cost to students when implementing new technology in the classroom.
  • Seventy-two (72) percent of professors say their primary motivation is teaching students.
  • When asked what their workweek would be focused on in a perfect world, nine out of 10 (91 percent) said teaching, and six out of 10 (61 percent) said meeting with students.

“Changes to the educational infrastructure are continually dominating headlines with proposed federal budget cuts, rising financial costs of higher education, and decreasing student enrollment, among other unsustainable changes,” said Mike Silagadze, co-founder and CEO, Top Hat. “At the same time, college and university professors are increasingly challenged to foster active learning and support student success inside and outside the classroom – and they wouldn’t have it any other way. They love what they do, and as an industry, we need to empower them with everything they need to make their job easier and achieve real results for their students.”

“As an educator, I’m constantly striving to provide students with the most effective and engaging learning experience,” said Dr. William Condee, professor of theater, Ohio University. “We need to find affordable and innovative ways to improve student outcomes. Improving quality and keeping higher education affordable is vital to our democracy.”

“The greatest payoff of higher education is a smart citizenry,” said Professor Jacques Berlinerblau, director of the Center for Jewish Civilization at the Edmund A. Walsh School of Foreign Service, Georgetown University. “It’s creating an informed electorate, people with critical-thinking skills, people with empathy, people who can understand and relate to people who are not like themselves, people who can argue civilly and change their minds as often as they change the minds of others.”


Research Methodology

The 2018 Professor Pulse Survey is sponsored by Top Hat. The survey was conducted between May 12, 2018 and July 20, 2018. The 1,956 respondents currently teach at colleges and universities across North America. Fifty-eight (58) per cent identified as full-time faculty and 31 per cent as part-time or adjunct faculty.

About Top Hat

Top Hat’s interactive, cloud-based teaching platform enables professors to engage students inside and outside the classroom with compelling content, tools and activities. Millions of students at 750 leading North American colleges and universities use the Top Hat teaching platform. To learn more, visit

BioTime to Present Data at the Military Health System Research Symposium

ALAMEDA, Calif.–()–BioTime, Inc. (NYSE American: BTX), a clinical-stage biotechnology company focused on degenerative diseases, today announced that it will be presenting a poster at the Military Health System Research Symposium (MHSRS) from August 20-23, 2018 in Kissimmee, Florida.

The poster presentation is titled, “Next generation disease modifying viscosupplementation to delay or prevent invasive surgery in combat-related Post Traumatic Osteoarthritis (PTOA).” Dr. Thomas Zarembinski, PhD, MBA and Head of External R&D for BioTime will present the data on Tuesday, August 21st during the Extremity and Craniomaxillofacial Regeneration session.

The poster describes the ability of a novel DNA-based small molecule to decrease cartilage degradation and turnover normally associated with osteoarthritis as well as the ability of BioTime’s proprietary HyStem® drug delivery platform to modulate its release over an extended period.

Hystem® is BioTime’s proprietary hydrogel platform that is designed to facilitate the delivery of cells and molecules. When delivering molecules, it can slowly release the compound in the target area over an extended period of time potentially providing several advantages such as longer term therapeutic benefit. The delivery of cells and molecules is a core area of focus for BioTime. “The data being presented is encouraging and allows BioTime to further explore potential disease modifying therapies for the treatment of osteoarthritis,” said Dr. Zarembinski, Head of External R&D for BioTime.

About BioTime, Inc.

BioTime is a clinical-stage biotechnology company focused on degenerative diseases. Its clinical programs are based on two platform technologies: cell replacement and cell/drug delivery. With its cell replacement platform, BioTime is producing new cells and tissues with its proprietary pluripotent cell technologies. These cells and tissues are developed to replace those that are either rendered dysfunctional or lost due to degenerative diseases or injuries. BioTime’s cell/drug delivery programs are based upon its proprietary HyStem® cell and drug delivery hydrogel matrix technology. HyStem® was designed, in part, to provide for the transfer, retention and/or engraftment of cellular replacement therapies. HyStem® is a unique hydrogel that has been shown to support cellular attachment and proliferation in vivo. Current research at leading medical institutions has shown that HyStem® is compatible with a wide variety of cells and tissue types including brain, bone, skin, cartilage, vascular and heart tissues. Due to the unique cross-linking chemistry, HyStem® hydrogels have the ability to mix cells, biologics and small molecule drugs and can be injected or applied as a gel which allows the hydrogel to conform to a cavity or space. This property of HyStem® hydrogels offers several distinct advantages over other hydrogels, including the possibility of combining bioactive materials with the hydrogel at the point of use. BioTime is also developing HyStem® for the delivery of therapeutic drugs and cells to localized areas of the body, including for sustained drug release in the targeted anatomical sites. BioTime’s lead cell delivery clinical program is Renevia®, which consists of HyStem® combined with the patient’s own adipose (fat) derived tissue or cells. Renevia® met its primary endpoint in an EU pivotal clinical trial for the treatment of facial lipoatrophy in HIV patients in 2017. BioTime has submitted Renevia® for CE Mark approval in the EU. There were no device related serious adverse events reported to date. BioTime’s lead cell replacement product candidate is OpRegen®, a retinal pigment epithelium transplant therapy, which is in a Phase I/IIa multicenter clinical trial for the treatment of dry age-related macular degeneration, the leading cause of blindness in the developed world. There have been no unexpected serious adverse events reported to date. BioTime also has significant equity holdings in two publicly traded companies, Asterias Biotherapeutics, Inc. (NYSE American: AST) and OncoCyte Corporation (NYSE American: OCX), and a private company, AgeX Therapeutics, Inc.

BioTime common stock is traded on the NYSE American and TASE under the symbol BTX. For more information, please visit or connect with the company on TwitterLinkedInFacebookYouTube, and Google+.

To receive ongoing BioTime corporate communications, please click on the following link to join the Company’s email alert list:

Navidea Biopharmaceuticals Announces Details of 2018 Annual General Meeting

DUBLIN, Ohio–()–As previously announced, Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, will host a conference call today, August 16, 2018, at 5:00pm EDT to discuss details of the Annual Meeting for its shareholders, to be held today in Fort Lee, New Jersey under the chairmanship of Michael Rice, director of Navidea.

During the meeting, management will provide updates on the following:

  • The Rheumatoid Arthritis and Activated Macrophage Data has been submitted to the U.S. Food and Drug Administration (“FDA”); a meeting with the FDA is now confirmed for late September.
  • The terms of Dr. Goldberg’s separation from Navidea.
  • The leadership transition plan, including Mr. Jed A. Latkin’s new role as Interim Chief Executive Officer and member of the board, effective August 14, 2018.
  • The business plan moving forward for Navidea’s subsidiary, Macrophage Therapeutics, Inc. (“MT”), which will now be led by Dr. Goldberg.

Going forward, Dr. Goldberg will serve as Chief Executive Officer of MT and will concentrate all of his attention and efforts on progressing the developments taking place. In this role, Dr. Goldberg will focus on addressing MT’s long-term funding needs as well as progressing its clinical pipeline.

“Navidea is grateful to Dr. Goldberg for his extensive contributions to the Company over the last 5 years, helping to build its leadership position in precision medicine,” said Mr. Jed A. Latkin, Interim Chief Executive Officer. “We believe this business transition will allow Navidea and our subsidiary, Macrophage Therapeutics, to focus their efforts on advancing the novel pipelines and delivering on our mission. Our goal throughout these corporate changes is to consistently create long-term value for our stakeholders as we shift the focus of the business and strive towards improving patient care. Furthermore, we are extremely excited that the FDA has granted us a meeting request in late September. We look forward to advancing our second product to commercialization.”

Jed Latkin has served as Navidea’s Chief Financial Officer and Chief Operating Offer since 2016. Previously, he was a Portfolio Manager at Nagel Avenue Capital from 2010 to 2016, at ING Investment Management from 2006 to 2010, and at Morgan Stanley from 2002 to 2006.

Conference Call Details

Investors and the public are invited to access the live audio webcast through the link below. Participants who would like to ask questions during the question and answer session must participate by telephone. Participants are encouraged to log-in and/or dial-in fifteen minutes before the conference call begins.

Event:     Annual Meeting Discussion and Update on Current Corporate Events and Outlook
Date: Thursday, August 16, 2018
Time: 5:00 pm (Eastern Time)
U.S. & Canada Dial-in: 877-407-0312
Conference ID: 13682395


The presentations to shareholders at the Annual Meeting as well as the Webcast of the Annual Meeting Discussion and Update on Current Corporate Events and Outlook Conference call will be posted on August 16, 2018 on the corporate website.

About Navidea

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept™ platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea’s Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc 99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. The development activities of the Manocept immunotherapeutic platform are being conducted by Navidea in conjunction with its subsidiary, Macrophage Therapeutics, Inc. Navidea’s strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company’s pipeline through global partnering and commercialization efforts.

For more information, please visit

Forward-Looking Statements

This release and any oral statements made with respect to the information contained in this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, among other things: the timing of, and our ability to, move forward with our business plans, including as they relate to Macrophage Therapeutics, Inc., general economic and business conditions, both nationally and in our markets; our history of losses and uncertainty of future profitability; the final outcome of the CRG litigation in Texas; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; our expectations and estimates concerning future financial performance, financing plans and the impact of competition; our ability to raise capital sufficient to fund our development and commercialization programs; our ability to implement our growth strategy; anticipated trends in our business; advances in technologies; and other risk factors set forth in this report and detailed in our most recent Annual Report on Form 10-K and other SEC filings. You are urged to carefully review and consider the disclosures found in our SEC filings, which are available at or at

Investors are urged to consider statements that include the words “will,” “may,” “could,” “should,” “plan,” “continue,” “designed,” “goal,” “forecast,” “future,” “believe,” “intend,” “expect,” “anticipate,” “estimate,” “project,” and similar expressions, as well as the negatives of those words or other comparable words, to be uncertain forward-looking statements.

You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be incorrect. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this report may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Walmart U.S. Q2 Comps Grew 4.5% and Walmart U.S. eCommerce Sales Grew 40%, Q2 GAAP Net Loss Per Share of $0.29; Adjusted EPS of $1.29

BENTONVILLE, Ark.–()–Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting, on Facebook at and on Twitter at

Carbon Capture and Storage – Global Strategic Business Report 2018 – Annual Estimates & Forecasts 2015-2024 –

DUBLIN–()–The “Carbon Capture and Storage – Global Strategic Business Report” report has been added to‘s offering.

The report provides separate comprehensive analytics for the US, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2024. This report analyzes the worldwide markets for Carbon Capture and Storage in Million Tonnes.

The report profiles 84 companies including many key and niche players such as:

  • Archer-Daniels-Midland Company (USA)
  • BP plc (UK)
  • Chevron Corporation (USA)
  • Emissions Reduction Alberta (Canada)
  • GE Power (USA)
  • HTC CO2 Systems Corp. (Canada)
  • Inventys Thermal Technologies, Inc. (USA)
  • Japan CCS Co., Ltd. (Japan)
  • Maersk Oil (Denmark)
  • Petrofac Ltd. (UK)
  • Schlumberger Limited (USA)
  • SNC-Lavalin Group, Inc. (Canada)
  • Statoil ASA (Norway)

Key Topics Covered:



A Critical Technology in Greenhouse Gas Reduction

CCS Activity Boosts in Recent Years

Current & Future Analysis


A Prelude

Climate Change and the Need for Alternative Energy Sources

Where Does CCS Stand in the Action Plan to Curtail Climate Change?

CCS Moves Ahead despite Hurdles

Market Drivers

Government Support

Industrial Reuse of Captured Carbon Dioxide

Improvements in Carbon Capturing and Storing Technologies

Introduction of Relevant Standardizations and Legislations

Public Communication

Market Inhibitors

High Cost of CCS

Uneven Division of Capital Investments among Stakeholders

Market Uncertainty

Technological Uncertainty

Major Operational Industrial-Scale CCS Projects

Overview of Large-Scale CCS Projects in Operation

Overview of Select Cancelled CCS Projects

Pipeline Analysis

Major Players

Competitive Overview in CO2 Capture

Major Players by Category

Competitive Overview in CO2 Transport and Storage

Major Players by Category


Carbon Capture & Storage (CCS): A Key to Sustainable Power Generation & Infrastructure Development

The Going Goes Slow for Large Scale CCS Projects

The Status of CCS Technologies and Deployment

CCS in Developed and Developing Countries

Demonstration Projects Key to CCS Growth in Developing Countries

List of Pilot & Demonstration CCS Projects Operational Worldwide

International Assistance for CCS Deployment in Developing Countries

Huge Added Costs Fail to Hinder CCS Project Implementation

Enhanced Oil Recovery

the Sole Use of Sold Stored Carbon Dioxide, for Now

Low Cost of Carbon Dioxide Curbing Commercial Investments towards CCS

R&D in CCS Continues

List of Major R&D Players in CCS Technologies by Area

New Carbon Capture Technologies on the Anvil

Paris Agreement

A Game Changer for CCS?

Benefits & Disadvantages of CCS Approach



Environmental Concerns & Challenges

Long Term Environmental Impact: Remains a Cause of Concern

Low Financing in CCS

A Major Obstacle that Needs Overcoming



Statoil, Shell and Total Ink Agreement for Partnership in CO2 Storage

ADM Kick Starts ICCS Project

Gassnova Assigns Carbon Storage Development Evaluation to Statoil

Climeworks Debuts Commercial Scale CO2 Capture from Air

NRG Energy, JX Nippon Ink Deal to Commence Petra Nova

Japan Commissions JCCS to Take Up Tomakomai CCS Demonstration Project

Shell Begins Quest CCS Project

GE Acquires Power and Grid Businesses of Alstom

DOE and Southern Company Ink Agreement for Testing Latest Carbon Capture & Gasification Technologies

Vattenfall and SaskPower Ink MOU on Carbon Capture & Storage



Total Companies Profiled: 84 (including Divisions/Subsidiaries 87)

  • The United States ((30)
  • Canada 15)
  • Japan (5)
  • Europe (31)
    • France (3)
    • Germany (5)
    • The United Kingdom (11)
    • Italy (2)
    • Spain (2)
    • Rest of Europe (8)
  • Asia-Pacific (Excluding Japan) (6)

For more information about this report visit—Global-Strategic-Business/?feedref=JjAwJuNHiystnCoBq_hl-bV7DTIYheT0D-1vT4_bKFzt_EW40VMdK6eG-WLfRGUE1fJraLPL1g6AeUGJlCTYs7Oafol48Kkc8KJgZoTHgMu0w8LYSbRdYOj2VdwnuKwa