Etihad Airways has joined the Sustainable Aviation Fuel Users Group (SAFUG), an airline-led industry working group established in 2008 to accelerate the commercialisation and availability of sustainable biofuels.
James Hogan, Etihad Airways’ chief executive, said: ““Etihad recognises the need for step-changes in aviation to reduce our reliance on fossil fuels and meet our industry’s carbon reduction goal. We also recognise that any fuel alternatives must be morally, socially and environmentally acceptable, while not compromising the future sustainability of the aviation industry.”
SAFUG members are bound by stringent criteria for the development of non fossil fuels, including the following:
The development of plant sources must be undertaken in a manner that is non-competitive with food, with biodiversity impacts minimised and without jeopardizing drinking water supplies. The total lifecycle greenhouse gas emissions from plant growth, harvesting, processing and end-use should be significantly less than that from fossil sources. In developing economies, development projects should include provisions or outcomes that improve socio-economic conditions for small-scale farmers and their families and that do not require the involuntary displacement of local populations. High conservation value areas and native eco-systems should not be cleared and converted for jet fuel plant source development.
Each SAFUG member has pledged to work through the Roundtable for Sustainable Biofuels (RSB), a global multi-stakeholder initiative consisting of leading environmental organizations, financiers, biofuel developers, biofuel-interested petroleum companies, the transportation sector, developing-world poverty alleviation associations, research entities, and governments.
“Abu Dhabi, our home base, has itself made a strong commitment towards sustainability and in the promotion of renewable energy through the establishment of Masdar City, which will the headquarters of the International Renewable Energy Agency,” Mr Hogan said.
About Etihad Airways
Etihad Airways is the national airline of the United Arab Emirates based in the UAE’s capital, Abu Dhabi. Currently Etihad offers flights to over 55 destinations in the Middle East, Europe, North America, Africa and Asia.
Tuesday, December 15, 2009
Friday, November 20, 2009
Bleach as a multi-purpose disinfectant
Bleach is commonly known and used in our everyday life as a stain remover for clothes, but its applications don’t just end there. Because bleach is a solution that contains sodium hypochlorite, it has the properties of an ideal disinfectant for both home and offices, keeping appliances, utensils, and floors clean and germ-free.
According to Mr. Suthee Asawathamkitti, Haiter Bleach Category Manager, Consumer Product, Kao Commercial (Thailand) Co., Ltd., our everyday life makes us prone to infection of various diseases. It is therefore necessary to ensure sanitary condition in household and workplace with special focus on points of commonly touched surfaces, such as door knobs, handrails, computers, and telephones, etc. because they are where germs spread from one person to another. For good hygiene and to prevent spread of diseases, disinfection of these surfaces is highly recommended.
“Public health authorities in the US encourage people to use bleach that we use in the household as disinfectant for points of shared contacts and surfaces cleaning in order to prevent spread of influenza, because bleach is a sodium hypochlorite solution that kills both bacteria and viruses. By diluting the solution in water, bleach offers an excellent surface cleaning application – it kills 99.99% of germs and serves as a budget alternative to dedicated disinfectant products***,” he tells.
To use bleach in as a cleaning agent and disinfectant for surfaces of appliances and utensils, dilute it in water at a ratio of 1:100, moisten a piece of cloth with the water mixture, wipe the surfaces and leave it for a while for disinfection effect, then wipe the surfaces once again with cloth moistened with plain water. As safety precautions, always wear gloves when using bleach and do not apply it on metal and paint finish.
Disinfect your desk and computer to reduce risk of infection
Your desktop is one of the best places for germs to grow because it is one of the most often-touched areas. Disinfecting the desk surface with diluted bleach can kill germs on your desktop. Firstly, clean the surface well, then dilute ½ bottle cap of bleach in a liter of water, wipe the desk surface with cloth moistened with this mixture, and clean the surface once again with water moistened with plain water.
Keep household items and utensils in hygienic, germ-free condition
Immerse household items and utensils, such as hand towels, cleaning clothes, dish clothes, bins, baskets, plastic boxes, etc. in a mixture of ½ bottle cap of bleach and 1 liter of plain water. Leave the items for 30 minutes then rinse them in plain water.
Ensure odor-free, germ-free refrigerator, kitchen cupboard, and wardrobe
Dilute 1/6 bottle cap of bleach in 1 liter of plain water, dip a piece of cloth in the mixture, wring out the water, then wipe it on the surface to be disinfected. Wipe the surface again with cloth moistened with plain water.
Make home and balcony flooring a hygienic zone
Prepare the floor surfaces by cleaning them with plain water first, then dilute 3 caps of bleach in 5 liters of water, or ½ caps of bleach in 1 liter of water, wash or wipe the surfaces with cloth moistened with the water mixture, leave them for 10 minutes, rinse the floors and wipe them with dry cloth.
Give your clothes odor-free, germ-free cleanliness
Bad odor of clothes can result from many factors, such as poor washing and cleaning, dampness, and germs, especially bacteria growing in damp spots of the clothes. The solution is easy: immerse the clothes in water with detergent and bleach for 5-15 minutes before washing them normally to make the clothes germ-free.
In addition to its basic applications as stain remover and odor killer, bleach can keep places clean and germ-free. To demonstrate how bleach can be used as a disinfectant, Haiter Bleach was in a campaign for prevention of pandemic influenza and to keep various places safe from the H1N1 virus when the spread was at its height early in the year. The campaign focused on disinfecting schools and communities with use of bleach because these places are key areas where the virus spread.
For more information, please visit http://www.kao.com/th/news/news_detail33.html
According to Mr. Suthee Asawathamkitti, Haiter Bleach Category Manager, Consumer Product, Kao Commercial (Thailand) Co., Ltd., our everyday life makes us prone to infection of various diseases. It is therefore necessary to ensure sanitary condition in household and workplace with special focus on points of commonly touched surfaces, such as door knobs, handrails, computers, and telephones, etc. because they are where germs spread from one person to another. For good hygiene and to prevent spread of diseases, disinfection of these surfaces is highly recommended.
“Public health authorities in the US encourage people to use bleach that we use in the household as disinfectant for points of shared contacts and surfaces cleaning in order to prevent spread of influenza, because bleach is a sodium hypochlorite solution that kills both bacteria and viruses. By diluting the solution in water, bleach offers an excellent surface cleaning application – it kills 99.99% of germs and serves as a budget alternative to dedicated disinfectant products***,” he tells.
To use bleach in as a cleaning agent and disinfectant for surfaces of appliances and utensils, dilute it in water at a ratio of 1:100, moisten a piece of cloth with the water mixture, wipe the surfaces and leave it for a while for disinfection effect, then wipe the surfaces once again with cloth moistened with plain water. As safety precautions, always wear gloves when using bleach and do not apply it on metal and paint finish.
Disinfect your desk and computer to reduce risk of infection
Your desktop is one of the best places for germs to grow because it is one of the most often-touched areas. Disinfecting the desk surface with diluted bleach can kill germs on your desktop. Firstly, clean the surface well, then dilute ½ bottle cap of bleach in a liter of water, wipe the desk surface with cloth moistened with this mixture, and clean the surface once again with water moistened with plain water.
Keep household items and utensils in hygienic, germ-free condition
Immerse household items and utensils, such as hand towels, cleaning clothes, dish clothes, bins, baskets, plastic boxes, etc. in a mixture of ½ bottle cap of bleach and 1 liter of plain water. Leave the items for 30 minutes then rinse them in plain water.
Ensure odor-free, germ-free refrigerator, kitchen cupboard, and wardrobe
Dilute 1/6 bottle cap of bleach in 1 liter of plain water, dip a piece of cloth in the mixture, wring out the water, then wipe it on the surface to be disinfected. Wipe the surface again with cloth moistened with plain water.
Make home and balcony flooring a hygienic zone
Prepare the floor surfaces by cleaning them with plain water first, then dilute 3 caps of bleach in 5 liters of water, or ½ caps of bleach in 1 liter of water, wash or wipe the surfaces with cloth moistened with the water mixture, leave them for 10 minutes, rinse the floors and wipe them with dry cloth.
Give your clothes odor-free, germ-free cleanliness
Bad odor of clothes can result from many factors, such as poor washing and cleaning, dampness, and germs, especially bacteria growing in damp spots of the clothes. The solution is easy: immerse the clothes in water with detergent and bleach for 5-15 minutes before washing them normally to make the clothes germ-free.
In addition to its basic applications as stain remover and odor killer, bleach can keep places clean and germ-free. To demonstrate how bleach can be used as a disinfectant, Haiter Bleach was in a campaign for prevention of pandemic influenza and to keep various places safe from the H1N1 virus when the spread was at its height early in the year. The campaign focused on disinfecting schools and communities with use of bleach because these places are key areas where the virus spread.
For more information, please visit http://www.kao.com/th/news/news_detail33.html
Sunday, November 8, 2009
Makeover for M&S as profits stay flat
Marks and Spencer will begin selling grocery and household products featuring top brand names across all of its stores in Britain alongside its ownlabelled goods.
Alongside news of flat first-half profits,Marks and Spencer said it would break with tradition and start selling products such as Coca-Cola fizzy drinks, Kelloggs cereals and Persil washing powder in a bid to improve sales.
"Marks & Spencer announces today that it is to sell a selected range of around 400 branded grocery and household products in all of its UK stores," the company said in a statement.
Company chairman Stuart Rose said the change would make it "so much more convenient" for customers to purchase their goods in just one shop.
The announcement comes as M&S said net profits rose just half-a-percent to ฃ224.3 million during the first six months of its financial year.
Alongside news of flat first-half profits,Marks and Spencer said it would break with tradition and start selling products such as Coca-Cola fizzy drinks, Kelloggs cereals and Persil washing powder in a bid to improve sales.
"Marks & Spencer announces today that it is to sell a selected range of around 400 branded grocery and household products in all of its UK stores," the company said in a statement.
Company chairman Stuart Rose said the change would make it "so much more convenient" for customers to purchase their goods in just one shop.
The announcement comes as M&S said net profits rose just half-a-percent to ฃ224.3 million during the first six months of its financial year.
Johnson & Johnson to tighten belt
Johnson & Johnson said on Tuesday it would trim layers of management, cut thousands of jobs, and set other restructuring moves in order to save up to $900 million next year.
The New Jersey-based company said the cuts would affect 6 to 7% of its global workforce of roughly 118,700 workers,or potentially more than 8,000 jobs.
The lay-offs will prompt a restructuring charge of up to $1.3 billion pretax in the fourth quarter. Still, the company confirmed adjusted profit guidance between $4.54 and $4.59 per share for 2009.
Johnson & Johnson plans to simplify its business structure and projects that it will save between $1.4 billion and $1.7 billion annually after the restructuring is complete in 2011.
The company, the world's most diversified health-products maker, saw its revenue fall 5% in the third quarter as intensifying generic competition slashed sales of about a half-dozen of its prescription drugs, including the schizophrenia drug Risperdal and the epilepsy treatment Topamax.
Chairman and CEO William C. Weldon said the moves were meant to position the company for long-term growth in an evolving, and sometimes turbulent,market.
"These types of changes are difficult under any circumstances, and will have a very personal impact on people who have been dedicated to the mission of Johnson & Johnson," he said."We recognise their contributions to the achievements of our business, and are committed to treating them fairly and with respect throughout this process."
The new restructuring programme comes on the heels of management's decision to reorganise its comprehensive care business in August. That unit was created under a 2008 restructuring programme with the goal of boosting sales,though sales were down during the first half of 2009. The unit makes medical devices and tests.
"When you look at the total economic environment, I don't think anybody knows what's going to happen," Weldon said."But nobody expects it to come back tomorrow."
He said the move was based on a broad, global view of the changing healthcare industry, taking into account national and international markets. As for health care reform, management has said it needs more clarity on what any future plan could look like before assessing a more concrete impact on the business."The restructuring programme is also not a move to centralise J&J's operations," Weldon added.
"We're trying to make sure we've really set ourselves up for the future," he said."We have such a rich portfolio that we have to make sure we have the resources to invest."
The New Jersey-based company said the cuts would affect 6 to 7% of its global workforce of roughly 118,700 workers,or potentially more than 8,000 jobs.
The lay-offs will prompt a restructuring charge of up to $1.3 billion pretax in the fourth quarter. Still, the company confirmed adjusted profit guidance between $4.54 and $4.59 per share for 2009.
Johnson & Johnson plans to simplify its business structure and projects that it will save between $1.4 billion and $1.7 billion annually after the restructuring is complete in 2011.
The company, the world's most diversified health-products maker, saw its revenue fall 5% in the third quarter as intensifying generic competition slashed sales of about a half-dozen of its prescription drugs, including the schizophrenia drug Risperdal and the epilepsy treatment Topamax.
Chairman and CEO William C. Weldon said the moves were meant to position the company for long-term growth in an evolving, and sometimes turbulent,market.
"These types of changes are difficult under any circumstances, and will have a very personal impact on people who have been dedicated to the mission of Johnson & Johnson," he said."We recognise their contributions to the achievements of our business, and are committed to treating them fairly and with respect throughout this process."
The new restructuring programme comes on the heels of management's decision to reorganise its comprehensive care business in August. That unit was created under a 2008 restructuring programme with the goal of boosting sales,though sales were down during the first half of 2009. The unit makes medical devices and tests.
"When you look at the total economic environment, I don't think anybody knows what's going to happen," Weldon said."But nobody expects it to come back tomorrow."
He said the move was based on a broad, global view of the changing healthcare industry, taking into account national and international markets. As for health care reform, management has said it needs more clarity on what any future plan could look like before assessing a more concrete impact on the business."The restructuring programme is also not a move to centralise J&J's operations," Weldon added.
"We're trying to make sure we've really set ourselves up for the future," he said."We have such a rich portfolio that we have to make sure we have the resources to invest."
Saturday, October 17, 2009
P&G seeks to add a billion more customers
The Procter & Gamble Co's new CEO wants to fire up growth by adding a billion new customers for products such as Pampers diapers and Gillette shavers around the globe over the next five years.
P&G veteran Bob McDonald spoke with shareholders on Tuesday in the first annual meeting since he moved up from chief operating officer on July 1 with sales down as households cut spending in the recession.
He says P&G reaches about four billion people now, but is focused on getting more people to buy more products in emerging markets, led by China and India.
"The potential for growth is amazing,"said McDonald, adding P&G "is offering more low-priced versions of its products to lure lower-income consumers."
He also said the world's largest consumer products company would take advantage of its size and brand strength.
McDonald said "while the average Mexican spends about $20 a year on P&G products in that country, Chinese per-capita spending on the company's goods is only about $3 and India $1."Getting usage in those giant countries to Mexico levels would add some $40 billion in sales, he said.
McDonald also pledged to streamline P&G operations to make the company more efficient and fast-responding.
P&G officials said recently they expect sales to start coming back this autumn around price cuts, new products and value-focused promotions, after falling 3%, to $79 billion for the last fiscal year.The company will report first-quarter results on Oct 29.
Shareholders turned down, with 54%against, a proposal for an advisory vote on executive compensation. High corporate pay has became a growing issue during the US financial crisis, and backers said that a non-binding vote would let the P&G board gauge shareholders' views on compensation.
During questions from the floor, a shareholder asked why P&G was letting "foul-mouthed athletes" represent their products.
Tennis star Serena Williams has appeared in advertising for Tampax feminine care products since her tirade last month against a lineswoman at the US Open, which brought a $10,000 fine for unsportsmanlike conduct.
"She apologised, and we accepted her apology," McDonald said, adding that "we'd have to review" the relationship if the behaviour is repeated.
McDonald and many shareholders also paid tribute to A.G. Lafley, who stays on as chairman after nine years as CEO. Lafley's son Patrick took the microphone to comment on the "countless hours of work," stress and even personal threats his father endured.
"Thank you, Dad, good job," he said,as the crowd applauded.
"I think they've weathered the situation well," said Donald Kittle, a shareholder and retired oil company employee from Rising Sun, Indiana.
Steve Moore, who retired from P&G two years ago after 30 years, said McDonald, with an Army background and skill for running efficient operations,"is a solid choice in an uncertain time.
"I feel pretty comfortable with his leadership style," Moore said.
P&G veteran Bob McDonald spoke with shareholders on Tuesday in the first annual meeting since he moved up from chief operating officer on July 1 with sales down as households cut spending in the recession.
He says P&G reaches about four billion people now, but is focused on getting more people to buy more products in emerging markets, led by China and India.
"The potential for growth is amazing,"said McDonald, adding P&G "is offering more low-priced versions of its products to lure lower-income consumers."
He also said the world's largest consumer products company would take advantage of its size and brand strength.
McDonald said "while the average Mexican spends about $20 a year on P&G products in that country, Chinese per-capita spending on the company's goods is only about $3 and India $1."Getting usage in those giant countries to Mexico levels would add some $40 billion in sales, he said.
McDonald also pledged to streamline P&G operations to make the company more efficient and fast-responding.
P&G officials said recently they expect sales to start coming back this autumn around price cuts, new products and value-focused promotions, after falling 3%, to $79 billion for the last fiscal year.The company will report first-quarter results on Oct 29.
Shareholders turned down, with 54%against, a proposal for an advisory vote on executive compensation. High corporate pay has became a growing issue during the US financial crisis, and backers said that a non-binding vote would let the P&G board gauge shareholders' views on compensation.
During questions from the floor, a shareholder asked why P&G was letting "foul-mouthed athletes" represent their products.
Tennis star Serena Williams has appeared in advertising for Tampax feminine care products since her tirade last month against a lineswoman at the US Open, which brought a $10,000 fine for unsportsmanlike conduct.
"She apologised, and we accepted her apology," McDonald said, adding that "we'd have to review" the relationship if the behaviour is repeated.
McDonald and many shareholders also paid tribute to A.G. Lafley, who stays on as chairman after nine years as CEO. Lafley's son Patrick took the microphone to comment on the "countless hours of work," stress and even personal threats his father endured.
"Thank you, Dad, good job," he said,as the crowd applauded.
"I think they've weathered the situation well," said Donald Kittle, a shareholder and retired oil company employee from Rising Sun, Indiana.
Steve Moore, who retired from P&G two years ago after 30 years, said McDonald, with an Army background and skill for running efficient operations,"is a solid choice in an uncertain time.
"I feel pretty comfortable with his leadership style," Moore said.
Tuesday, October 13, 2009
Magnificent seven
In the most important, most revered event since the invention of the brontosaurus trap,Microsoft shipped the most incredibly fabulous operating system ever made; the release of Windows 7 also spurred a new generation of personal computers of all sizes at prices well below last month's offers.The top reason Windows 7 does not suck: There is no registered website called Windows7Sucks.com
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Sunday, September 20, 2009
Dow hits new 11-month high as builders advance
US stocks rose on Friday as Procter & Gamble and major home builders advanced on positive brokerage comments and investors bet the economic recovery will be strong enough to sustain corporate profits.
The Dow hit a new 11-month high and capped its best week in two months as Citigroup said Procter & Gamble,maker of Tide detergent and Pampers,is poised to win market share through aggressive pricing.
Procter & Gamble's shares rose 3.2%to $57.32. The S&P consumer staples index, up 1.1%, was among the S&P 500's best-performing sectors.
"It's sort of cautious optimism. What that's doing is leading to analyst upgrades, and we're seeing analysts raising earnings estimates for both this year and for calendar 2010 fairly consistently,"said Fred Dickson, market strategist at DA Davidson & Co in Lake Oswego,Oregon.
The S&P 500 is up 58% since hitting a 12-year closing low in early March,partly because of strong second-quarter earnings and optimism that an economic recovery is gaining traction.
Home builders Toll Brothers and KB Home both were upgraded by JP Morgan Securities, which said the housing sector will continue to recover over the next 24 months and drive the current rally in home builders' stocks.
The Dow Jones industrial average was up 36.28 points, or 0.37%, at 9,820.20.The Standard & Poor's 500 Index was up 2.81 points, or 0.26%, at 1,068.30 while the Nasdaq Composite Index was up 6.11 points, or 0.29%, at 2,132.86.
It was the market's second-straight week of gains. Last week, the Dow rose 2.24%, the S&P 500 gained 2.45% and the Nasdaq advanced 2.50%.
"Quadruple witching," the expiration and settlement of four different types of September equity futures and options contracts, seemed "fairly quiet". Mr Dickson said, though the event sometimes leads to increased volatility.
Oil company Chevron Corp also was upgraded.
Credit Suisse said Chevron looks best equipped of the major oil companies to deliver growth "over the coming cycle to 2020". The stock rose 0.9% to $72.64.
Toll Brothers shares rose 3.1% to $22.20, while KB Home's stock gained 2.6% to $20.21.
The Dow Jones US Home Construction index rose 0.7%.
On the Nasdaq, Palm Inc fell 3% to $14.01 a day after the company gave a tepid second-quarter sales forecast and said it plans to sell 16 million shares of common stock.
Volume was heavy on the New York Stock Exchange, with 2.28 billion shares changing hands, well above last year's estimated daily average of 1.49 billion,while on the Nasdaq, about 3.16 billion shares traded, also far above last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of three-to-two, while on the Nasdaq,14 stocks rose for every 13 that fell.
The Dow hit a new 11-month high and capped its best week in two months as Citigroup said Procter & Gamble,maker of Tide detergent and Pampers,is poised to win market share through aggressive pricing.
Procter & Gamble's shares rose 3.2%to $57.32. The S&P consumer staples index, up 1.1%, was among the S&P 500's best-performing sectors.
"It's sort of cautious optimism. What that's doing is leading to analyst upgrades, and we're seeing analysts raising earnings estimates for both this year and for calendar 2010 fairly consistently,"said Fred Dickson, market strategist at DA Davidson & Co in Lake Oswego,Oregon.
The S&P 500 is up 58% since hitting a 12-year closing low in early March,partly because of strong second-quarter earnings and optimism that an economic recovery is gaining traction.
Home builders Toll Brothers and KB Home both were upgraded by JP Morgan Securities, which said the housing sector will continue to recover over the next 24 months and drive the current rally in home builders' stocks.
The Dow Jones industrial average was up 36.28 points, or 0.37%, at 9,820.20.The Standard & Poor's 500 Index was up 2.81 points, or 0.26%, at 1,068.30 while the Nasdaq Composite Index was up 6.11 points, or 0.29%, at 2,132.86.
It was the market's second-straight week of gains. Last week, the Dow rose 2.24%, the S&P 500 gained 2.45% and the Nasdaq advanced 2.50%.
"Quadruple witching," the expiration and settlement of four different types of September equity futures and options contracts, seemed "fairly quiet". Mr Dickson said, though the event sometimes leads to increased volatility.
Oil company Chevron Corp also was upgraded.
Credit Suisse said Chevron looks best equipped of the major oil companies to deliver growth "over the coming cycle to 2020". The stock rose 0.9% to $72.64.
Toll Brothers shares rose 3.1% to $22.20, while KB Home's stock gained 2.6% to $20.21.
The Dow Jones US Home Construction index rose 0.7%.
On the Nasdaq, Palm Inc fell 3% to $14.01 a day after the company gave a tepid second-quarter sales forecast and said it plans to sell 16 million shares of common stock.
Volume was heavy on the New York Stock Exchange, with 2.28 billion shares changing hands, well above last year's estimated daily average of 1.49 billion,while on the Nasdaq, about 3.16 billion shares traded, also far above last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of three-to-two, while on the Nasdaq,14 stocks rose for every 13 that fell.
Meyer commits B340m to its Thailand facilities
Meyer general manager Joseph K.C.Lo says the company has confidence in Thailand and is buying machinery and upgrading facilities at its factory in Laem Chabang, Si Racha, Chon Buri.
PITSINEE JITPLEECHEEP
The US cookware producer Meyer Manufacturing Co has confidence to invest 340 million baht in Thailand despite is poor economy and uncertain politics.
General manager Joseph K.C. Lo said the budget is for new machinery and upgrading facilities at its factory in Laem Chabang, Si Racha, Chon Buri.
"We set up our production base here after the Tienanmen Square riots in 1989 and are committed to continuing our investment here because Thailand has good infrastructure and is strategically located as a centre to export our products worldwide," he said yesterday in Bangkok.
The company exports 98% of its nonstick and stainless steel cookware to the United States, Canada, the UK, Australia and some countries in the Middle East.
Meyer Manufacturing Co is one of the world's top three kitchenware suppliers. Sales in Thailand are only a few hundred million baht per year but demand was up 10% annually until this year's slowdown. The company expects local sales this year to match last year.
Meyer's brands include Meyer cookware for the midmarket, Prestige for the medium- to high-end and Circulon and Anolon for the high-end.
Mr Lo said Meyer's success stemmed from product development, quality control and after-sales service."Having goodquality products and competitive prices help us to attract consumers, while good after-sales service will create consumer confidence," he said.
Domestic sales of Myer dropped slightly in the first seven months of this year but the company expects conditions to improve by year-end. New products will be launched next year and the company will spend 10 million baht on marketing.
"As consumers are concerned about a good life, we will continue to innovate and make cooking a fun and enjoyable part of life," he said."Apart from fresh ingredients, cookware plays a very important part in cooking."
He said cookware sales in Asia are only 2-3% of revenue worldwide but the company expects the proportion to rise to 5-7% over the next three years.
"Despite the economic crisis in its homeland, Meyer's sales in the US remain outstanding. This is because fewer people are going out to dine in restaurants and they are buying more cookware to cook at home," he said.
PITSINEE JITPLEECHEEP
The US cookware producer Meyer Manufacturing Co has confidence to invest 340 million baht in Thailand despite is poor economy and uncertain politics.
General manager Joseph K.C. Lo said the budget is for new machinery and upgrading facilities at its factory in Laem Chabang, Si Racha, Chon Buri.
"We set up our production base here after the Tienanmen Square riots in 1989 and are committed to continuing our investment here because Thailand has good infrastructure and is strategically located as a centre to export our products worldwide," he said yesterday in Bangkok.
The company exports 98% of its nonstick and stainless steel cookware to the United States, Canada, the UK, Australia and some countries in the Middle East.
Meyer Manufacturing Co is one of the world's top three kitchenware suppliers. Sales in Thailand are only a few hundred million baht per year but demand was up 10% annually until this year's slowdown. The company expects local sales this year to match last year.
Meyer's brands include Meyer cookware for the midmarket, Prestige for the medium- to high-end and Circulon and Anolon for the high-end.
Mr Lo said Meyer's success stemmed from product development, quality control and after-sales service."Having goodquality products and competitive prices help us to attract consumers, while good after-sales service will create consumer confidence," he said.
Domestic sales of Myer dropped slightly in the first seven months of this year but the company expects conditions to improve by year-end. New products will be launched next year and the company will spend 10 million baht on marketing.
"As consumers are concerned about a good life, we will continue to innovate and make cooking a fun and enjoyable part of life," he said."Apart from fresh ingredients, cookware plays a very important part in cooking."
He said cookware sales in Asia are only 2-3% of revenue worldwide but the company expects the proportion to rise to 5-7% over the next three years.
"Despite the economic crisis in its homeland, Meyer's sales in the US remain outstanding. This is because fewer people are going out to dine in restaurants and they are buying more cookware to cook at home," he said.
Monday, August 31, 2009
Srithai, PTTCH plan "water lillies"
SRITHAI'S PROJECTED 2009 REVENUE +5%B5.1bn
Srithai Superware Plc (SITHAI),Thailand's largest plastic houseware producer is diversifying into products to combat evaporation in collaboration with a foreign innovator and PTT Chemicals,the country's largest olefin maker.
The fear of water shortages is rising with global warming and the accelerated evaporation of natural water, creating demand for tools to preserve water resources, said Srithai chairman Sanan Angubolkul.
His company plans to produce "water lillies",which are pro-+5%ducts for preserving ponds invented by an Australian company that Srithai declined to name.
Research has almost been concluded for the water lilies, which should be commercially available from 2010, he said.
"Simply speaking, water lilies are plastic modules that the user needs to patch together as a sheet to cover the surface of ponds or reservoirs," said Mr Sanan.
The water lillies will be made from a special formula of high-density polyethylene (HDPE) created in collaboration with PTTCH to meet the requirement of Srithai and the Australian inventor.
"We gather knowledge from each other to make something new to meet the new demand. With co-operation, development will be faster and cheaper as we can pool our resources together,"said Mr Sanan.
The United States and Australia are showing enthusiasm for the product as they are highly concerned about future water shortages, he said.
But other countries with a tropical climate could also benefit from the new product, Mr Sanan added.
PTTCH will develop the new HDPE to float while protecting water from heat and controlling water movement and shore erosion.
The project is expected to get patents
for its materials and design. But the business model is yet to be established as the project requires huge capital investment.
Srithai will invest mainly in advance,spending 800 million baht this year and another 400 million next year.
"We have to focus on technology at a time of economic slowdown. When the global economy returns to normal,we will be more able than our rivals to meet our clients' demands," said Mr Sanan.
Srithai expects its revenue this year to rise 5% to 5.1 billion baht from 4.92 billion last year due to strong demand in the packaging sector.
Shares of SITHAI closed yesterday at five baht, unchanged, in trade worth 5.48 million baht, while PTTCH shares were also unchanged at 66 baht in trade worth 202 million baht.
Srithai Superware Plc (SITHAI),Thailand's largest plastic houseware producer is diversifying into products to combat evaporation in collaboration with a foreign innovator and PTT Chemicals,the country's largest olefin maker.
The fear of water shortages is rising with global warming and the accelerated evaporation of natural water, creating demand for tools to preserve water resources, said Srithai chairman Sanan Angubolkul.
His company plans to produce "water lillies",which are pro-+5%ducts for preserving ponds invented by an Australian company that Srithai declined to name.
Research has almost been concluded for the water lilies, which should be commercially available from 2010, he said.
"Simply speaking, water lilies are plastic modules that the user needs to patch together as a sheet to cover the surface of ponds or reservoirs," said Mr Sanan.
The water lillies will be made from a special formula of high-density polyethylene (HDPE) created in collaboration with PTTCH to meet the requirement of Srithai and the Australian inventor.
"We gather knowledge from each other to make something new to meet the new demand. With co-operation, development will be faster and cheaper as we can pool our resources together,"said Mr Sanan.
The United States and Australia are showing enthusiasm for the product as they are highly concerned about future water shortages, he said.
But other countries with a tropical climate could also benefit from the new product, Mr Sanan added.
PTTCH will develop the new HDPE to float while protecting water from heat and controlling water movement and shore erosion.
The project is expected to get patents
for its materials and design. But the business model is yet to be established as the project requires huge capital investment.
Srithai will invest mainly in advance,spending 800 million baht this year and another 400 million next year.
"We have to focus on technology at a time of economic slowdown. When the global economy returns to normal,we will be more able than our rivals to meet our clients' demands," said Mr Sanan.
Srithai expects its revenue this year to rise 5% to 5.1 billion baht from 4.92 billion last year due to strong demand in the packaging sector.
Shares of SITHAI closed yesterday at five baht, unchanged, in trade worth 5.48 million baht, while PTTCH shares were also unchanged at 66 baht in trade worth 202 million baht.
Tuesday, August 25, 2009
Moong Pattana prepares for MAI listing
Moong Pattana International, a market leader for maternity and child-care products, will list on the Market for Alternative Investment in early October.
The company is a distributor of household products under the Japanese Pigeon brand, including cotton buds, sprays and knives. Moong Pattana was founded in January 1981 by Sumeth Lersumitkul,and began trading Pigeon brand products from 1988.
A total of 30 million new shares with one baht par value will be floated under the offering, with 24 million offered to the general public,2 million to directors,executives and staff and 4 million to company partners. Paid-up capital will increase to 120 million baht.
Asia Plus Securities is the financial adviser for the offering. Pricing for the IPO will be set later.
Post-IPO, holdings for the Lersumitkul family will be diluted to 74.69%, with public investors holding 23.33% and employees 1.67%.
Mr Sumeth, who also is the company's CEO, said funds raised from the offering would be used to finance business expansion and debt repayment.
Moong Pattana reported first-quarter revenues of 92.4 million baht, up from 87 million in the same period last year.Revenues in 2008 totalled 421.3 million baht, up from 345.2 million the year before. First-quarter net profits rose to 15.2 million baht from 13.7 million a year earlier. Profits in 2008 totalled 53.9 million baht, up from 28.4 million baht during the previous year.
Mr Sumeth said the company expected to maintain double-digit growth this year.
The company is also strengthening its sales and marketing teams as well as looking to expand its current sales channels of over 8,000 stores nationwide.
Kongkiat Opaswongkarn, chief executive officer of Asia Plus Securities, said Moong Pattana International was a leading distributor of consumer products in Thailand, with a nationwide network and decades of experience.
Dr Kongkiat said new listings this year would be limited to small firms on the secondary MAI, as few large companies are interested in the main board given market and economic uncertainties.
"We will see a parade of small companies look to list on the exchange until next year. As far as market sentiment,global market will be the main driver going into the end of this year," he said.
The company is a distributor of household products under the Japanese Pigeon brand, including cotton buds, sprays and knives. Moong Pattana was founded in January 1981 by Sumeth Lersumitkul,and began trading Pigeon brand products from 1988.
A total of 30 million new shares with one baht par value will be floated under the offering, with 24 million offered to the general public,2 million to directors,executives and staff and 4 million to company partners. Paid-up capital will increase to 120 million baht.
Asia Plus Securities is the financial adviser for the offering. Pricing for the IPO will be set later.
Post-IPO, holdings for the Lersumitkul family will be diluted to 74.69%, with public investors holding 23.33% and employees 1.67%.
Mr Sumeth, who also is the company's CEO, said funds raised from the offering would be used to finance business expansion and debt repayment.
Moong Pattana reported first-quarter revenues of 92.4 million baht, up from 87 million in the same period last year.Revenues in 2008 totalled 421.3 million baht, up from 345.2 million the year before. First-quarter net profits rose to 15.2 million baht from 13.7 million a year earlier. Profits in 2008 totalled 53.9 million baht, up from 28.4 million baht during the previous year.
Mr Sumeth said the company expected to maintain double-digit growth this year.
The company is also strengthening its sales and marketing teams as well as looking to expand its current sales channels of over 8,000 stores nationwide.
Kongkiat Opaswongkarn, chief executive officer of Asia Plus Securities, said Moong Pattana International was a leading distributor of consumer products in Thailand, with a nationwide network and decades of experience.
Dr Kongkiat said new listings this year would be limited to small firms on the secondary MAI, as few large companies are interested in the main board given market and economic uncertainties.
"We will see a parade of small companies look to list on the exchange until next year. As far as market sentiment,global market will be the main driver going into the end of this year," he said.
Comet wins for Thai designer
Achic martini glass named "Comet" by young Thai designer Ekarin Khunapinya won the unanimous approval of the judging committee who awarded it first prize in this year's Bombay Sapphire Glass Competition Thailand. The competition was organised by Bombay Sapphire premium gin in cooperation with the Export Promotion Department's Office of Product Value Development for Export.
As well as a cash prize of 200,000 baht, Ekarin will represent Thailand in the world glass design competition at the London Design Festival in September this year. The judging committee is confident that his creative work will win Thailand the world title once again.Last year, Thai designer Amorn Thongsa-ard won the first prize at the world's competition in London with his "Ramify" glass, thus putting Thailand on the world map of international designer arena.
This year, Ekarin, a graduate of King Mongkut's Institute of Technology Lad Krabang now working as a designer at Object & Thinks Design Studio, has high hopes of following in his predecessor's successful footsteps.
"I chose a comet as my concept in designing the glass, because Bombay Sapphire is an international brand with a unique personality of luxury, glitter dignity and elegance.
"A comet moves round the sun and looks like a bright star with a tail, and it is very beautiful whenever it appears with its shining light. I designed my glass to be cone-shaped, at an angle of 60 degree from the base so that it looked like a comet. The body of the glass is made of crystal to reflect the light beautifully.
"I imagined it like a passing comet through the horizontal line of the sky.I intended it to make anyone who holds the glass feel more graceful and more confident.
To prepare for the world-class competition in London, Ekarin said,"I shall probably modify the design a little bit according to comments from the judges to reflect a clearer concept, and will do my very best to win the first prize for Thailand again."
This year's first and second runners-up are Apirat Boonruangthaworn with his "Ice Cube" glass, and Saran Youkhongdee with his "Double" glass. Each received a certificate and 20,000 and 10,000 baht cash prize award, respectively.
The judging committee consists of professionals in the design field, namely ML Kathathong Thongyai, director of the Office of Product Value Development for Export; Supatra Srisook, former assistant director-general of the Department of Export Promotion; Thitipat Supapattranont, chairman of Designs & Objects Association; designer Napapadol Paholayothin; Hataitip Devakul,managing director of T-Positif; and Rungsima Kasigranunt, editor of Elle Decoration magazine.
As well as a cash prize of 200,000 baht, Ekarin will represent Thailand in the world glass design competition at the London Design Festival in September this year. The judging committee is confident that his creative work will win Thailand the world title once again.Last year, Thai designer Amorn Thongsa-ard won the first prize at the world's competition in London with his "Ramify" glass, thus putting Thailand on the world map of international designer arena.
This year, Ekarin, a graduate of King Mongkut's Institute of Technology Lad Krabang now working as a designer at Object & Thinks Design Studio, has high hopes of following in his predecessor's successful footsteps.
"I chose a comet as my concept in designing the glass, because Bombay Sapphire is an international brand with a unique personality of luxury, glitter dignity and elegance.
"A comet moves round the sun and looks like a bright star with a tail, and it is very beautiful whenever it appears with its shining light. I designed my glass to be cone-shaped, at an angle of 60 degree from the base so that it looked like a comet. The body of the glass is made of crystal to reflect the light beautifully.
"I imagined it like a passing comet through the horizontal line of the sky.I intended it to make anyone who holds the glass feel more graceful and more confident.
To prepare for the world-class competition in London, Ekarin said,"I shall probably modify the design a little bit according to comments from the judges to reflect a clearer concept, and will do my very best to win the first prize for Thailand again."
This year's first and second runners-up are Apirat Boonruangthaworn with his "Ice Cube" glass, and Saran Youkhongdee with his "Double" glass. Each received a certificate and 20,000 and 10,000 baht cash prize award, respectively.
The judging committee consists of professionals in the design field, namely ML Kathathong Thongyai, director of the Office of Product Value Development for Export; Supatra Srisook, former assistant director-general of the Department of Export Promotion; Thitipat Supapattranont, chairman of Designs & Objects Association; designer Napapadol Paholayothin; Hataitip Devakul,managing director of T-Positif; and Rungsima Kasigranunt, editor of Elle Decoration magazine.
UNILEVER SECOND-QUARTER PROFIT DOWN 17 PER CENT
Unilever, the maker of Dove soap, Lipton tea and Ben & Jrrry's ice cream, reported yesterday that profit fell 17 per cent in the second quarter as its profit margins eroded amid the economic downturn.
Net profit at the consumer products giant was euro758 million (Bt37.1 billion) in the quarter, down from euro909 million in the same period a year earlier, while sales rose 1 per cent to euro10.5 billion.
The sales figure was in line with analysts' expectations.
Unilever didn't specify why its margins slid, but noted it had spent more money on advertising and suffered from higher commodity costs. Profit was also hit by euro77 million more in pension-related costs than a year earlier.
"While conditions remain difficult in many markets, I am encouraged by the return to volume growth across all regions," chief executive Paul Polman said in a statement.
Sales were up 6.6 per cent in Asia and Africa, now Unilever's largest market, 0.6 per cent in the Americas, but fell 5.1 per cent in Western Europe. Operating profits were up by 18 per cent in Asia, but fell by1 per cent in the Americas and 24 per cent in Western Europe.
"Unilever is delivering on its promise of a return to volume growth, which has come much quicker than we anticipated," said analyst Richard Withagen of SNS Securities, who has a "reduce" rating the share. He said volume growth hadn't translated to profits due to pricing weakness but "we see this as a solid performance".
Shares rose 4.3 per cent to euro19.61 in Amsterdam.
Among product lines, at Univlever's savoury and dressings arm, its largest, sales fell 5.8 per cent and operating profits were down 18 per cent.
Unilever said its Knorr soups brand had grown well in the Americas and Asia but that sales were down in Western Europe.
Overall in the US, Unilever said it had capitalised on the move to more in-home eating with successful campaigns behind Hellmann's mayonnaise, Ragu pasta sauces and Bertolli frozen meals.
Unilever's personal-care arm sales grew by 8.5 per cent and operating profit rose 6 per cent. Unilever said new product launches had helped, such as a new Dove deodorant and the Axe body spray. It also noted good growth for Suave, its value brand in the US. Ice cream and drinks sales rose 3.8 per cent but operating profits fell 8.4 per cent. Unilever didn't say why.
Net profit at the consumer products giant was euro758 million (Bt37.1 billion) in the quarter, down from euro909 million in the same period a year earlier, while sales rose 1 per cent to euro10.5 billion.
The sales figure was in line with analysts' expectations.
Unilever didn't specify why its margins slid, but noted it had spent more money on advertising and suffered from higher commodity costs. Profit was also hit by euro77 million more in pension-related costs than a year earlier.
"While conditions remain difficult in many markets, I am encouraged by the return to volume growth across all regions," chief executive Paul Polman said in a statement.
Sales were up 6.6 per cent in Asia and Africa, now Unilever's largest market, 0.6 per cent in the Americas, but fell 5.1 per cent in Western Europe. Operating profits were up by 18 per cent in Asia, but fell by1 per cent in the Americas and 24 per cent in Western Europe.
"Unilever is delivering on its promise of a return to volume growth, which has come much quicker than we anticipated," said analyst Richard Withagen of SNS Securities, who has a "reduce" rating the share. He said volume growth hadn't translated to profits due to pricing weakness but "we see this as a solid performance".
Shares rose 4.3 per cent to euro19.61 in Amsterdam.
Among product lines, at Univlever's savoury and dressings arm, its largest, sales fell 5.8 per cent and operating profits were down 18 per cent.
Unilever said its Knorr soups brand had grown well in the Americas and Asia but that sales were down in Western Europe.
Overall in the US, Unilever said it had capitalised on the move to more in-home eating with successful campaigns behind Hellmann's mayonnaise, Ragu pasta sauces and Bertolli frozen meals.
Unilever's personal-care arm sales grew by 8.5 per cent and operating profit rose 6 per cent. Unilever said new product launches had helped, such as a new Dove deodorant and the Axe body spray. It also noted good growth for Suave, its value brand in the US. Ice cream and drinks sales rose 3.8 per cent but operating profits fell 8.4 per cent. Unilever didn't say why.
MANY WAYS TO CUT IT
A century and a quarter after a master cutler set out to supply Swiss soldiers with a survival tool, the iconic Swiss Army knife still adjusts gun sights, cuts cheese and opens cans.
But deep in Switzerland's Alpine heartland, Karl Elsener's descendants at Victorinox, the last firm that still makes the pocket knives, have been forced to adapt to the urban jungle.
Apart from the hallmark blades, the corkscrew-originally sold to officers ony-tweezers and screwdrivers, the nowadays 100-strong range includes a "cyber tool" to fix computers, a USB key and a blunt-tiped children's knife.
Former rival and now subsidiary Wenger added the folding nail clipper to the nail file, while London's Bond Street, New York's Soho and Tokyo's Ginza rival army barracks around the world as outlets.
Victorinox president Carl Elsener Jr is eyeing a Bluetooth-equipped remote controller for businss presentations, and even finger-print ID to secure data.
"We always try to be very close to the market and get new ideas," says Elsener, great-grandson of the company's founder.
Although the modern discourse is imbued with marketign speak, Elsener says the family firm has poured "a lot of soul" into the red tool.
"The Swiss Army knife became the relieable companion for many expeditions, to the North Pole, the South Pole, in the Amazon, to Mount Everest, even official equipment of the Space Shuttle crews," says Elsener proudly.
"Presidents have been using the Swiss Army knife as a gift for their visitors to the White House," he adds, also recalling that it was once used to perform an in-flight emergency tracheoto-my high above the Philippines.
An exhibition at the Swiss National Museum is Schwyz, near the firm's headquarters, retraces the evolution of pocktknives "from tool to icon", revealing the far more rural flavour of the early models.
Apart from replacing daggers, the European ancestors of the multipurpose tool were designed to saw wood, castrate boar, pluck feathers or sew potato sacks.
In Italy an ornate small folding blade was dubbed the coltello d'amore-the knife of love-an engagement gift to encourage the future husband to remain faithful.
Ominously, it was hung above the couple's bed.
The devout Karl Elsener was motivated by more earthy, practical values and the kind of business acument that seems to run in the family.
After learnign hsi trade in Switzerland, Franc and Germany, he set up his cutlery and knife workshop in the village of Ibach in 1884.
The Swiss army wanted to supply conscripts with a knife they could also use to maintain their new refle and open tinned food, somethig of a novelty for army rations at the time.
Just as his great grandson is today trying to fnd off cheap imitations fromthe Far East, Victorinox's founder was irritated by the military's bid to turn to Germany's steel industry for mass production.
So he convinced local cutlers to club together and make the knife in Switzerland by 1891.
"The knife was a bit bulky and heavy so my grandfather decided to develop a lighter more elegant knif with additional functions. One of them, of course, was the corkscrew," Elsener explains.
The evolved into the officer's knife, patented in 1897, with six functions, the rounded ends and the characteristic Swiss cross on the body. Wenger claims paternity for the flattened sides.
"The history begins with the soldier's knife for the Swiss army," says exhibition organiser ia Schubiger. "But the cult cvame with the officer's knife."
US soldiers were responsible for giving the pocket knife wider resonance after World War II. They eventually bought them at army PX stores in Europe and gave them to relatives or fiiends back home.
"Pronouncing 'schweizer offiziersmesser' was too difficult so they just called ti the Swiss Army knife," says Elsener.
But the growing diversity of the devce is also down to a battle for economic survival. "Swiss Army" is nowadays a commercial trademark.
Sales dipped after knives were banned from airliner cabins in the aftermath of the September 11, 2001 attacks, adding to the pr3ssure from copetition and new multipurpose portable tools.
"September 11 was our worst moment because practically from one day to the next our outut dropped 30 per cent," said Elsener.
In 2005 Victorinox took over its last Swiss rival, Weger. The brands still trade independently.
"We felt it was important because we wanted to prevent a foreign company taking over Wenger an dproducing the Swiss Army knife in the Far East or produce other products that could hurt our brand image," Elener explains.
More recently the financial and economic crisis has taken its tool, leading to an unspecified drop in sales into the first two months of the year.
About six million of the picket devices in their umpteen permutations are produced a year, according to Victorinox, on top of a similar number of other tools and kitchen knives, and even branded perfume.
Nonetheless, some eartheir traditions die hard.
In February, the Swiss army began to hand otu its new issue knife to soldiers.
"Ony fro recurits who have just joined," emphasises army spokesman Christoph Brunner.
Now military green and black, the handle is shaped and designed with a better grip to assist single-handed openig. It can also saw wood and uncap beer bottles.
But there is still no corkscrew.
But deep in Switzerland's Alpine heartland, Karl Elsener's descendants at Victorinox, the last firm that still makes the pocket knives, have been forced to adapt to the urban jungle.
Apart from the hallmark blades, the corkscrew-originally sold to officers ony-tweezers and screwdrivers, the nowadays 100-strong range includes a "cyber tool" to fix computers, a USB key and a blunt-tiped children's knife.
Former rival and now subsidiary Wenger added the folding nail clipper to the nail file, while London's Bond Street, New York's Soho and Tokyo's Ginza rival army barracks around the world as outlets.
Victorinox president Carl Elsener Jr is eyeing a Bluetooth-equipped remote controller for businss presentations, and even finger-print ID to secure data.
"We always try to be very close to the market and get new ideas," says Elsener, great-grandson of the company's founder.
Although the modern discourse is imbued with marketign speak, Elsener says the family firm has poured "a lot of soul" into the red tool.
"The Swiss Army knife became the relieable companion for many expeditions, to the North Pole, the South Pole, in the Amazon, to Mount Everest, even official equipment of the Space Shuttle crews," says Elsener proudly.
"Presidents have been using the Swiss Army knife as a gift for their visitors to the White House," he adds, also recalling that it was once used to perform an in-flight emergency tracheoto-my high above the Philippines.
An exhibition at the Swiss National Museum is Schwyz, near the firm's headquarters, retraces the evolution of pocktknives "from tool to icon", revealing the far more rural flavour of the early models.
Apart from replacing daggers, the European ancestors of the multipurpose tool were designed to saw wood, castrate boar, pluck feathers or sew potato sacks.
In Italy an ornate small folding blade was dubbed the coltello d'amore-the knife of love-an engagement gift to encourage the future husband to remain faithful.
Ominously, it was hung above the couple's bed.
The devout Karl Elsener was motivated by more earthy, practical values and the kind of business acument that seems to run in the family.
After learnign hsi trade in Switzerland, Franc and Germany, he set up his cutlery and knife workshop in the village of Ibach in 1884.
The Swiss army wanted to supply conscripts with a knife they could also use to maintain their new refle and open tinned food, somethig of a novelty for army rations at the time.
Just as his great grandson is today trying to fnd off cheap imitations fromthe Far East, Victorinox's founder was irritated by the military's bid to turn to Germany's steel industry for mass production.
So he convinced local cutlers to club together and make the knife in Switzerland by 1891.
"The knife was a bit bulky and heavy so my grandfather decided to develop a lighter more elegant knif with additional functions. One of them, of course, was the corkscrew," Elsener explains.
The evolved into the officer's knife, patented in 1897, with six functions, the rounded ends and the characteristic Swiss cross on the body. Wenger claims paternity for the flattened sides.
"The history begins with the soldier's knife for the Swiss army," says exhibition organiser ia Schubiger. "But the cult cvame with the officer's knife."
US soldiers were responsible for giving the pocket knife wider resonance after World War II. They eventually bought them at army PX stores in Europe and gave them to relatives or fiiends back home.
"Pronouncing 'schweizer offiziersmesser' was too difficult so they just called ti the Swiss Army knife," says Elsener.
But the growing diversity of the devce is also down to a battle for economic survival. "Swiss Army" is nowadays a commercial trademark.
Sales dipped after knives were banned from airliner cabins in the aftermath of the September 11, 2001 attacks, adding to the pr3ssure from copetition and new multipurpose portable tools.
"September 11 was our worst moment because practically from one day to the next our outut dropped 30 per cent," said Elsener.
In 2005 Victorinox took over its last Swiss rival, Weger. The brands still trade independently.
"We felt it was important because we wanted to prevent a foreign company taking over Wenger an dproducing the Swiss Army knife in the Far East or produce other products that could hurt our brand image," Elener explains.
More recently the financial and economic crisis has taken its tool, leading to an unspecified drop in sales into the first two months of the year.
About six million of the picket devices in their umpteen permutations are produced a year, according to Victorinox, on top of a similar number of other tools and kitchen knives, and even branded perfume.
Nonetheless, some eartheir traditions die hard.
In February, the Swiss army began to hand otu its new issue knife to soldiers.
"Ony fro recurits who have just joined," emphasises army spokesman Christoph Brunner.
Now military green and black, the handle is shaped and designed with a better grip to assist single-handed openig. It can also saw wood and uncap beer bottles.
But there is still no corkscrew.
Srithai eyes sales of B5bn
Srithai Superware Plc, the SET-listed melamine tableware and plastics manufacturer, expects sales of 5.1 billion baht this year even though its first half performance was below target.
President Sanan Angubolkul said sales of Srithai in the first half were 2.2 billion baht, up 5% from the same period last year. However, the sales missed the company's target of 2.55 billion baht because local consumers' purchasing power dropped by 20% as a result of the global downturn. Fortunately, Srithai could offset the impact of the local decline with its export business, which grew by 60%.
Demand for plastic products in export markets has continued to increase in the second half, said Mr Sanan.
"China has some problems with product quality, so several firms in Bangladesh and the Philippines have shifted to order big volumes of plastic bottle caps with Srithai recently," he said.
Moreover, the company received new orders from the Sony Group to produce CD, VCD and DVD holders for Michael Jackson albums.
With more orders, Srithai plans to spend 100 million baht to expand its production capacity of plastic products to accommodate the rising exports.
Mr Sanan expects second-half sales of 2.9 billion baht.
Apart from plastic products, the company will spend 21 million baht to open seven new Lock & Lock flagship outlets in 2009 to 2010, bringing the total to 10.
Lock & Lock outlets are now at Seacon Square, Esplanade and Fashion Island.
The company expects to gain about 200 million baht sales from Lock & Lock plastic containers next year, up from 120 million this year.
Shares of Srithai (SITHAI) closed yesterday on the SET at 4.90 baht, down 4 satang, in trade worth 28,000 baht.
President Sanan Angubolkul said sales of Srithai in the first half were 2.2 billion baht, up 5% from the same period last year. However, the sales missed the company's target of 2.55 billion baht because local consumers' purchasing power dropped by 20% as a result of the global downturn. Fortunately, Srithai could offset the impact of the local decline with its export business, which grew by 60%.
Demand for plastic products in export markets has continued to increase in the second half, said Mr Sanan.
"China has some problems with product quality, so several firms in Bangladesh and the Philippines have shifted to order big volumes of plastic bottle caps with Srithai recently," he said.
Moreover, the company received new orders from the Sony Group to produce CD, VCD and DVD holders for Michael Jackson albums.
With more orders, Srithai plans to spend 100 million baht to expand its production capacity of plastic products to accommodate the rising exports.
Mr Sanan expects second-half sales of 2.9 billion baht.
Apart from plastic products, the company will spend 21 million baht to open seven new Lock & Lock flagship outlets in 2009 to 2010, bringing the total to 10.
Lock & Lock outlets are now at Seacon Square, Esplanade and Fashion Island.
The company expects to gain about 200 million baht sales from Lock & Lock plastic containers next year, up from 120 million this year.
Shares of Srithai (SITHAI) closed yesterday on the SET at 4.90 baht, down 4 satang, in trade worth 28,000 baht.
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