Supply chain is the new retail battleground - Fresh Business Thinking

06/08/2012

By Daniel Hunter

Shoppers stayed away from the high street in their droves in July thanks to the impact of rainy weather combined with economic worries, according to the latest sales figures from BDO.

BDO?s July High Street Sales Tracker shows like-for-like sales at mid-tier retailers were down 2.9% year-on-year ? the sharpest fall in retail sales since October 2011.

Although good weather at the end of the month brought some cheer to high street stores, concerns over the rising cost of living combined with low wage inflation weighed hard on consumers? pockets.

Caution among shoppers could be felt across the high street. Fashion stores saw sales drop 2.6% year-on-year due in part to retailers struggling to ensure seasonal lines are in synch with unpredictable weather, while non-fashion sales fell 1.5%.

Meanwhile homewares saw the biggest decline, with a drop of 13% on the same period last year. A combination of slow garden furniture sales due to poor weather and reluctance among consumers to splash out on big ticket items hit the sector hard.

?With consumers increasingly value-conscious it is still a challenging climate for retailers, and the rain in early July did not help," Don Williams, National Head of Retail and Wholesale at BDO LLP said.

?But it is dangerous to just blame the weather. There are retailers, particularly in the discounting space, who are bucking this trend through flexible and responsive supply chains. The quicker you can get your products to market, the louder you will hear tills ring. Many fashion stores were caught out when, after weeks of rain, Britain basked in temperatures of 30 degrees. Getting your supply chain right is the new retail battleground and those who achieve flexibility and agility will survive and prosper.

?Sales through non-store channels again brought some cheer to retailers, with an uplift of 24.9% year-on-year. Retailers are continuing to improve their online environment which is clearly reflected in the figures. This investment is critical if retailers are to keep up with the changing demands of consumers and offer them the products that they want in a way that is most convenient to them.?

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Source: http://www.freshbusinessthinking.com/news.php?NID=14795

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Accounts Receivable Financing and Factoring - Small Business ...

Say you?re strapped for cash. You don?t exactly need a small business loan, nor do you have the time to go through the application process. Although you are expecting several invoices to be paid by large clients in the upcoming weeks or months, you need money now to pay your employees and vendors. ?What?s the solution?

Accounts receivable financing or factoring might be an option for you ? depending on your industry and the nature of your business.

What is Accounts Receivable Financing?

Accounts receivable financing involves borrowing against your receivables or selling your receivables?to a company that will pay you an amount equivalent to the invoice amount due you, less a discount. ?The amount of ?the discount varies depending on the size of the transaction, the extent of risk that the financing company (sometimes called a ?factor?) has to take to collect the amount due, and other matters. ?You?d get more for an invoice payable by a blue chip company that?s due soon versus one that?s, say, 90 days past due from a weaker payor.

Factoring has been around at least 500 years, says Dan Casey of?AccountsReceivableFinancing.com. ?He notes that it??involves the:

?? process of selling your rights to collect an invoice.??The factor/invoice buyer pays a high percentage of the invoice face value day one.??Upon collection, the factor funds the balance of the invoice value less their fees for service. ?

Here is a breakdown of different accounts-receivable financing types:

So with these types of services, you can either borrow against the money you expect to come in soon, or sell the invoice itself at a discount. ?The net effect in either case is that you get a lot of money a lot sooner. ?You can see other benefits and drawbacks in the chart above.

Benefits of Accounts Receivable Financing

The primary benefit to these financing services is to help small businesses get cash quickly.

It?s particularly useful for businesses that get paid large invoices by clients that may pay slow for one reason or another (such as large corporate clients, or when part of a large multi-phase government contract). ?Yet, in the interim that small business still has a payroll to meet ? putting the business in a cash flow bind.

Accounts receivable financing can also help free up working capital. Because so many businesses have funds tied up in inventory, getting paid for invoices quickly is paramount. ?Getting financing takes that worry out of the equation for small businesses.

Factoring, where you actually sell the invoice outright and the factor takes over collection, can take away the headache of chasing down payments from clients. That alone can save a small business time and money in the form of internal staff resources dedicated to follow-up and collection.

What Accounts Receivable Financing and Factoring Costs

Just like any other type of financing or loan, you will pay for the privilege of getting access to cash quickly. Casey says at his company, invoice financing fees can vary from 1% to 3% per month. The rate you?ll pay depends on the size of the transaction, your monthly dollar volume and your credit worthiness. The fees will also depend on whether you?re getting factoring financing or accounts receivable financing.

Is It Right for Your Business?

Accounts receivable financing companies often specialize in a particular industry or type of transaction, e.g., staffing services industries or government contracts. ?When looking for such financing, check their website or ask if they handle transactions in your industry or of your type.

Consider your reasons for needing quick financing. Is it a temporary problem? ?If not, it might be indicative of something bigger that needs to be addressed. ?Accounts receivable financing is not designed to buy time to hold off the inevitable.

How much are you willing to pay for the privilege of getting access to money faster? ?In essence, accounts receivable financing is like dropping your prices. ?On the other hand, it might be well worth it if it keeps your cash flow steady and uninterrupted ? the alternatives (drawing on expensive credit cards or incurring late charges) could be more expensive. ?You really have to look at the big picture and the full impact. ?Speak to your accountant to understand the overall financial impact on your company.

Source: http://smallbiztrends.com/2012/08/accounts-receivable-financing-and-factoring-may-help-small-biz-cash-flow.html

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Solid US jobs report provides shield for Obama

The US economy created a solid 163,000 jobs in July, the Labor Department said Friday, helping President Barack Obama dull attacks from his Republican rival as the White House race intensifies.

Although the unemployment rate ticked up to 8.3 percent, the economy created many more jobs than expected, providing evidence that the world's largest economy is still on track.

"Finally, we have some good news on the employment front," said Nigel Gault, an economist with IHS Global Insight. "The report will alleviate fears that the US might be tipping back into recession."

Wall Street analysts had predicted the economy created 100,000 jobs during July.

The service, manufacturing, and food and drink sectors were among those showing gains, as the economy created more jobs than at any time since February.

With fewer than 100 days to go until the US presidential election, White House contenders seized on the report's seemingly mixed message in order to shape the tone of the debate.

Republican Mitt Romney zeroed in on the politically symbolic unemployment rate, which at 8.3 percent was the highest since February.

"Today's increase in the unemployment rate is a hammer blow to struggling middle-class families," Romney said in a statement, as he pledged to create 12 million jobs in his first term.

"We've now gone 42 consecutive months with the unemployment rate above eight percent. Middle-class Americans deserve better, and I believe America can do better."

The unemployment rate and the job creation figures are taken from two separate Labor Department surveys.

The rate is compiled through a survey of 60,000 households, while the payrolls increase comes from a poll of 140,000 businesses and government agencies.

The number of jobs created in July may make it difficult for Romney to steer the debate back onto the economy and away from issues that have seen him drop in the polls.

The last month has seen Romney criticized for not releasing more tax returns, for diplomatic missteps, for his dealings at Bain Capital and his tax plan -- which independent analysts said would raise rates for the middle class.

That has resulted in Obama opening up a two-point lead in national tracking polls as he pulls away in key swing states like Florida, Ohio and Pennsylvania, leaving Romney with plenty to do if the election is not to slip through his fingers.

The White House said the report provided "further evidence that the US economy is continuing to recover from the worst downturn since the Great Depression."

Democrats will also take hope from the fact that unemployment among Hispanics fell 0.7 points to 10.3 percent and the rate for adult women stood basically unchanged at 7.5 percent -- both groups are crucial for Obama to win the election.

Obama's top economic adviser Alan Krueger echoed the Labor Department's observation that the unemployment rate was "essentially unchanged."

"The rate rose from 8.217 percent in June to 8.254 percent in July," well within the report's margin of error, he said.

US markets swept aside the slight uptick in unemployment.

The Dow Jones Industrial Average surged 1.6 percent or 209 points while the government's cost of borrowing fell.

Friday's data is unlikely to be instrumental in deciding whether the Federal Reserve embarks on a new round of stimulus spending.

Before the Fed meets in September policymakers will receive August's jobs report.

Source: http://news.yahoo.com/us-economy-creates-solid-163-000-jobs-july-003805552.html

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Home and Condo Foreclosures Declined in Colorado in 2010 ...

The number of foreclosure-related filings, which include condo foreclosures, has declined in Colorado last year compared with 2009 levels. Industry analysts and experts have cautioned, however, that the data is too limited to decide whether the state?s housing market is already climbing out of the bottom or is just experiencing a seasonal decline.

Denver foreclosures and distressed property numbers in most metro areas of the state posted declines last year, with Boulder recording the lowest rate among metro counties in the region. A total of 46,394 foreclosure filings were recorded in Colorado in 2010, down 8% compared with 2009 levels. Meanwhile, foreclosed properties sold at auctions increased by 16.9% from year-ago levels, something that analysts did not find surprising, given the amount of foreclosures in the last couple of years.

Analysts also stated that the peak of Colorado foreclosures in 2009 was largely due to unemployment. If the market is to improve for the rest of 2011, they claim that a healthy economy is necessary, along with a lower unemployment rate for the region. For last year, the lowest foreclosure rate for the fourth quarter was recorded in Boulder County, with the area having one household out of every 1,071 housing units under foreclosure in 2010.

Looking at individual metro areas, the Boulder-Longmont region is expected to have fewer residential and condo foreclosures during the year as the number of underwater loans in the metro was one of the lowest in the whole Colorado state. Around 6.3% of mortgages in Boulder-Longmont were underwater last year.

In terms of housing unit prices, Boulder County was able to maintain a relatively stable price in 2010. Boulder City, on the other hand, was only 1.8% below the $662,000 price recorded in 2007, which was the highest selling rate recorded in the area since the number of foreclosure houses started increasing in the region. The area with the highest foreclosure rate in the state last year was Weld County, with one household out of every 260 units.

Although statewide figures for residential and condo foreclosures showed positive movements last year, several mountain counties of the state posted higher year-by-year foreclosure rates. Areas like Elbert, Park, and Gilpin all recorded higher foreclosure numbers in 2010.

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Source: http://rawbusinesslaw.com/2012/08/03/home-and-condo-foreclosures-declined-in-colorado-in-2010-real-estate-foreclosures-2/

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RadioWatch: How software-defined radio could revolutionize wireless

The Phi hopes to do for radio what Apple I did for computing?spark innovation

In 1976, two shaggy-haired college dropouts founded a company called Apple to manufacture personal computers. The company's prospects looked so poor that the third co-founder relinquished his 10 percent stake in the company for $800 that same year. It simply wasn't clear why anyone would want the firm's Apple I computer. It was so under-powered that it couldn't perform many of the functions of mainframes and minicomputers that were already on the market. And most consumers had no interest in having a computer in their homes.

Today, of course, Apple is the world's largest company by market capitalization. What was important about the Apple I wasn't the meager capabilities of the original version, but the promise it held for rapid innovation in the coming decades.

Now, a company called Per Vices hopes to do for wireless communication what Apple did for computing. It is selling software-defined radio gear called the Phi that, like the Apple I, is likely to be of little interest to the average consumer (it was even briefly priced at the same point as the Apple I, $666.66, but has since been placed at $750).?But the device, and others like it, has the potential to transform the wireless industry. This time, the revolution will depend on hackers enabled to manipulate radio signals in software.

The versatility of software-defined radio

Traditional radio chips are hard-wired to communicate using one specific protocol. For example, a typical cell phone has several different chips to handle a variety of radio communications: one to talk to cell phone towers, another to contact WiFi base stations, a third to receive GPS signals, and a fourth to communicate with Bluetooth devices. In contrast, software-defined radio hardware works with raw electromagnetic signals, relying on software to implement specific applications.

This makes software-defined radio devices tremendously versatile. With the right software, a single software-defined radio chip could perform the functions of all of those special-purpose radio chips in your cell phone and many others besides. It could record FM radio and digital television signals, read RFID chips, track ship locations, or do radio astronomy. In principle it could perform all of these functions simultaneously. Software-defined radio hardware also enables rapid prototyping of new communications protocols.

(Source : ars technica via The SWLing Post)

Source: http://sw-radio.blogspot.com/2012/08/how-software-defined-radio-could.html

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EULEX Charges Eight Kosovo Judges with Corruption :: Balkan Insight

EULEX prosecutors have charged the former President of Pristina?s Municipal Court, Nuhi Uka and seven other local judges with embezzlement.? The former judges are suspected of having gained millions of euros by expropriating publicly owned property.

A total of ten defendants have been charged by the Special Prosecution Office of Kosovo, including five judges of the Municipal Court of Pristina, Nuhi Uka, Jehomir Milalic, Olga Janicijevic, Sanije Mucolli and Shemsije Sheholli; three former District Court judges Ferid Bislimi, Rrahman Ratkoceri and Ekrem Agushi.

?The prosecutor indicted the former President of the Municipal Court for the criminal offences of abusing official position and authority and assistance in issuing unlawful judicial decision. The seven former judges were charged with the criminal offences of abusing official position and authority and issuing unlawful judicial decision,? says EULEX.

Other two suspects are lawyer Gazmend Gashi, who is Nuhi Uka?s son in law, and Hasnije Balidemaj, a representative of the socially owned enterprise ?KBI Kosova Export?, where allegedly tens of hectares of land was expropriated through court rulings in which the defendants were sitting judges.

The eight former judges ruled in at least 15 civil cases concerning ??KBI Kosova Export? related to ownership claims over the land that the company used to own at the outskirts of Pristina, Fushe-Kosova and Cagllavica.

?The representative of the Socially Owned Enterprise and the lawyer are charged with the criminal offences of assistance in abusing official position and authority and assistance in issuing unlawful judicial decision,? EULEX said in its indictment.

In another case, in Peja, EULEX? has filed an indictment against the former Special Prosecutor who was also the head of the Anti-Corruption Task Force, Nazmi Mustafi, and three other persons for corruption-related offences.

Mustafi is charged for the criminal offences of abusing of official position or authority and illegal possession of weapons.

The three other defendants were charged with assistance to the offence of abusing official position or authority, trading in influence, taking official documents and defrauding buyers.

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Source: http://www.balkaninsight.com/en/article/eulex-charges-eight-former-judges-suspected-of-having-gained-millions

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It's official: Zynga chases online gambling outside the U.S. in 2013

Let's start with the obvious: When it comes to the green stuff, no game company is, well, playing games. But Zynga is about to enter a whole new playing field. CEO and co-founder Mark Pincus recently announced that his social gaming giant will enter the real-money gaming (or online gambling) business outside the U.S. in 2013. In fact, Zynga already has products in the pipeline.

"What we've said, and what we have to announce today, is that we have our first products in development and that we intend to release them in markets that are regulated and open, subject to our getting licensing," Pincus said during an unfortunate analyst conference call, TechCrunch reports.

Given that only a handful of states in the U.S. currently allow for online gambling, this move is strictly for markets and audiences outside of the country. "The US is obviously an attractive market, but it's not an open, regulated environment today," Pincus said. But really, who didn't see this coming from a mile away? Were Zynga Poker, Zynga Bingo and Zynga Slingo not enough of a hint?

While Pincus is self-admittedly "not a good predictor of politics," according to TechCrunch, the CEO does foresee online gambling being legalized in the U.S. in some form. Does Pincus have the word "prediction" confused with "hope"? Come back to us in 2014.

Are you interested in seeing Zynga's first-ever online gambling products? Will this be a success for Zynga? Sound off in the comments. Add Comment.

Source: http://blog.games.com/2012/07/30/zynga-online-gambling-2013/

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