Financial solutions company Think Money have warned consumers to be careful over the amount of debt they incur over the festive season, in order to avoid potential debt problems in the midst of an economic recession.
They have also advised those consumers who do rely on credit to act early and tackle any debts before they have the chance to grow, and to be selective over the types of credit used in order to prevent the debts from becoming unmanageable.
For many families in the UK, including those who are usually comfortable financially, the Christmas season has become associated with debt. The tradition of spending large amounts of money on food and gifts has meant that large numbers of households fall into debt every year, even if it means spending a large part of the following year repaying those debts.
Indeed, a survey taken earlier this year by Savebuckets.com suggested that one in four Christmas borrowers were still repaying their Christmas debts in the following October – nine months after the money was originally spent.
A debt expert for financial solutions company Think Money commented: "In today's society, many households actually expect to get into debt in order to get through the Christmas season – which can put them at risk of debt problems in the future. It's much safer to focus more on how to avoid falling into debt – and with the right preparation and attitude, it is very much possible to do that."
The spokesperson added that staying out of debt over the Christmas period does not necessarily have to mean cutting back on costs. "The households who are best prepared for the Christmas period are those who have thought about it long in advance and have been saving throughout the year. By saving just a relatively small amount each month, it's quite possible to save enough to cover all the costs involved, without having to compromise.
"However, it seems that it is currently more common to pay with credit in the run-up to Christmas. This may have been fuelled by the relatively easy access to credit of the past few years, although due to the credit crunch, this may be a little more difficult this year."
The spokesperson also said that the type of credit used can be crucial to consumers' ability to repay the debt. "For those consumers who do rely on credit over the Christmas period, choosing the right form of credit is a simple step that can make all the difference.
"For example, it's generally unadvisable to make large purchases on credit cards unless the buyer is absolutely sure they will be able to repay the debt in a short space of time. The APR on credit cards is typically very high, which means the debt can grow very quickly unless it is repaid promptly.
The Think Money spokesperson added that anyone finding themselves struggling with debt should seek debt advice straight away. "There are a number of debt solutions that can help to minimise outgoings and/or help to reduce debts, such as debt consolidation or an IVA (Individual Voluntary Arrangement). We urge anyone in serious debt to seek professional debt advice as soon as possible."
Wednesday, December 31, 2008
Tuesday, December 16, 2008
AffordableVision.com To Become The Leader Of Online Cheap Eyeglass Retailers
Company has taken moves to set itself apart from other retailers who offer eyeglasses based solely on the cheapest price
Phoenix, AZ -Online shopping for cheap eyeglasses is becoming a popular trend. Customers that shop online can buy eyeglasses at tremendous discounts. AffordableVision.com enables customers to select from traditional styles to more trendy designer inspired styles at 75% off normal retail prices.
AffordableVision.com brings to customers over 30 years of experience in supplying frames and lenses to private doctors and eye clinics across the United States. Unlike other online eyeglass retailers AffordableVision.com is based completely out of the United States and all purchases support American jobs.
"The team at AffordableVision.com is run by experienced professionals who realize that you get what you pay for," states the company President, "So, our frames and lenses are of the best quality for the price possible. Other companies offer cheap quality lenses but AffordableVision.com has decided to take a different approach. The quality of eyeglasses customers receive from us is the same quality the private eye clinics have gotten over the past 30 years."
At AffordableVision.com customers receive free with each eyeglass purchase a quality hard case, cleaning cloth and lens care instruction card. The website has recently added a video wall which has informative videos relating to eyeglasses and vision needs. It also has secure payment methods to assure a safe shopping environment.
AffordableVision.com can be viewed at www.affordablevision.com
AffordableVision.com is an international online retailer of quality prescription eyeglasses. We give the general public access to the same technicians and specialist laboratory that doctors requiring the finest lab work send their orders to.
Friday, November 28, 2008
Debt management company welcomes fall in inflation
Welcoming the recent fall in inflation, debt management company Gregory
Pennington highlighted the significance of this drop to people struggling to
manage their debts.
Pennington highlighted the significance of this drop to people struggling to
manage their debts.
In October, the CPI (Consumer Price Index) measure fell from 5.2% to 4.5% –
the largest month-on-month fall in 16 years. Having said that, the reading
of 5.2% was the highest reading in 16 years, so even a reduction of 0.7%
falls far short of returning inflation to a 'normal' level.
"Remember the Bank of England's target for CPI inflation is just 2%," said a
spokesperson for the debt management company. "At 4.5%, today's rate of
inflation still means prices are rising more than twice as fast as the Bank
would like – this reduction simply means that the speed with which things
are getting more expensive is slowing.
"More to the point, CPI has been over the Bank of England's 2% target ever
since October 2007, so today's consumers are still dealing with the
cumulative impact of a full year of high inflation. And the timing makes
that elevated cost of living particularly dangerous: today's consumers are
also dealing with record levels of personal debt, as well as rising
unemployment."
As a result, there are many people finding it hard to manage their debts:
trying to stretch a shrinking budget further each month. "For anyone in that
position, any decrease in inflation can't come fast enough. They'll be
relieved to see some expenses – such as petrol – coming down, but many other
things are still far higher than they were a year ago. A recent article in
The Guardian, for example, reported that a basket of 24 staple items in the
UK's biggest three supermarkets now costs 17.8% more than it did last
November."
Looking forward to next year, it seems the Bank of England is expecting
inflation to eventually drop below its 2% target, and perhaps as low as 1%.
"This is good news for two reasons," said the spokesperson for the debt
management company. "Not just because it'll mean prices are (relatively)
coming down, but also because it could allow the Bank to cut the base rate
even further.
"Clearly, a lower base rate could help many people currently struggling with
their finances. People on tracker mortgages will see the most immediate
benefit – many of them have already seen their mortgage payments drop by
hundreds of pounds compared with July, when the base rate stood at 5.75%."
Nonetheless, too little inflation can be as dangerous as too much – and
we're now facing the possibility of deflation in 2009. While economists
agree that a short stint of deflation would not be a problem, any sustained
period of shrinking prices could seriously damage the economy.
Deflation means a decrease in the price of property, shares and goods of all
kinds. People therefore wait to buy expensive items, as it only makes sense
to wait until the price comes down. Falling demand means companies sell less
and are forced to reduce their workforce.
"It's clear the Bank of England has a delicate balancing act ahead of it:
when it comes to normal people managing their debts, deflation could be as
big a danger as high inflation."
Company URL: http://www.gregorypennington.com/
Sunday, November 16, 2008
iHosting UK promise 99.9pc uptime on their custom built servers
Today, with the Internet becoming ever more a key revenue driver for many companies around the world, it is vital that their website, and the servers that it is run on, are reliable.
In line with this, iHosting UK are now offering a 99.9% uptime guarantee on their UK web hosting plans. They currently offer three plans to suit their clients needs (Bronze, Silver & Special), and all these come with the 99.9% uptime guarantee.
A spokesperson for iHosting UK said: "The guarantee means that our clients can relax in the knowledge that their website is in safe hands. For many companies who make a large percentage of their sales online, server downtime can easily cost them thousands in just a few hours & that is a risk that many companies just cannot take. Even if they don't make much revenue from their website, reliable hosting is simply reputation management.
"Thanks to our 99.9% uptime guarantee, they can get on with running their business - doing whatever it is they do best, and leave us to do what we do best - provide reliable UK web hosting for our clients worldwide!
"Combined with our 24/7 premium support, spam protection, antivirus protection, daily backups & 14 day money back guarantee, we feel we are one of the most reliable UK web hosting providers around!"
iHosting UK challenge you to try their services & if you are not completely satisfied with the service within 14 days, you are guaranteed to get your money back. The spokesperson said: "We are confident this will not be the case!"
About iHosting UK
iHosting UK provide feature packed, no-nonsense cPanel web hosting to private, professional & business users throughout the world on their UK hosted web servers. They offer UK web hosting, domain name registration and much more. For further information, visit http://www.ihostinguk.com/.
Future's bright for Ledssuperbright.com
LED Supplier LEDssuperbright.com (www.ledssuperbright.com) are expecting a bright future in the LED market as they launch their new LED specialist ecommerce store.
The super bright LED specialist, a subdivision of Auto Direct LLC supply a wide range of Bright LED products including raw bright LEDs with wire and complete LED bulbs & units.
The company carries one of the world's the largest selections of LEDs, suitable for every auto, domestic and commercial situation. LED Super Bright carry various size LEDs that are super bright allowing you to light up a large area with minimum size and power requirements.
Offering a large selection of LED products at great prices LEDs Super Bright specialize in only LEDs so you can feel assured they will provide you with the technical and sales knowledge you expect.
All LED products are shipped from USA and usually arrive within a few days to a week. And stock is expertly stored in industry standard temperature controlled warehouses.
Buying LEDs from LEDs Super Bright not only saves you money, but you will receive products you simply cannot find elsewhere. LED Super Bright has been in business since 1999 and has over 20 years combined experience in LED products and accessories.
If you have been looking for a source of 12V LED bulbs to use in your projects LEDs Super Bright can supply everything you need. Choose from 3mm, 5mm, 8mm and 10mm super bright LEDs.
For more information on Super Bright LEDs please visit http://www.ledssuperbright.com/
Monday, November 10, 2008
Mobile Broadband from just £5 per month
Mobile Broadband from just £5 per month
Hot on the heels of having recently announced its first ever mobile broadband offering, from Monday 3 November, broadband expert Virgin Media launches the UK's cheapest ever bundled mobile broadband package.
From as little as £5 per month, new and existing Virgin Media broadband customers on cable or ADSL services can stay connected to the internet on the go by simply plugging Virgin Media's new 1GB USB modem into a laptop.
* Monthly cost is £5 per month for customers on Virgin Media's XL (20Mb) or L (10Mb) cable broadband packages, or Virgin Media's ADSL 'Bundle 1' (Up to 8Mb Unlimited Broadband and Talk Anytime)
* Monthly cost is £10 per month for customers on Virgin Media's M (2Mb) cable broadband package or Virgin Media's ADSL 'Bundle 2' (Up to 8Mb Unlimited Broadband and Talk Evenings and Weekends) or the basic ADSL up to 8Mb Unlimited Broadband service
* The Virgin Media 1GB USB modem has a one-off cost of £25
* Included data allowance per month is 1GB
* Monthly usage over the 1GB allowance is charged at 1.46 pence per MB
These bundled packages from Virgin Media are available on a 12 month contract and include enough monthly mobile data allowance for over 10,000 plain text emails or around 700 emails, plus 33 hours of web surfing, 66 music tracks and 33 two minute videos.
Graeme Oxby, Virgin Media's Managing Director for Mobile said: "Our 1GB mobile broadband is great for people who need home broadband but also want access to the internet on the move. The bundle is exceptional value and offers complete peace of mind, not only because it comes from genuine broadband experts but also because it offers the safety net of considerably cheaper rates if customers go over the monthly data allowance."
Mobile Broadband is available on 0800 052 3344 at virginmedia.com/shrunk or in any Virgin Media or zavvi store. An online data calculator is also available at virginmobile.com.
For press enquiries:
Alex Wilkinson, Jessica Turner, Sarah Jones or Jessica Carlin at Borkowski on 020 7404 3000
alex@borkowski.co.uk
jessica@borkowski.co.uk
sjones@borkowski.co.uk
jessicac@borkowski.co.uk
Asam Ahmad (Consumer PR) or Emma Hutchinson (Corporate PR) at Virgin Media
Asam Ahmad
+44 (0) 20 7909 2122
Asam.ahmad@virginmedia.co.uk
Emma Hutchinson
+44 (0) 20 7909 2022
Emma.hutchinson@virginmedia.co.uk
Hot on the heels of having recently announced its first ever mobile broadband offering, from Monday 3 November, broadband expert Virgin Media launches the UK's cheapest ever bundled mobile broadband package.
From as little as £5 per month, new and existing Virgin Media broadband customers on cable or ADSL services can stay connected to the internet on the go by simply plugging Virgin Media's new 1GB USB modem into a laptop.
* Monthly cost is £5 per month for customers on Virgin Media's XL (20Mb) or L (10Mb) cable broadband packages, or Virgin Media's ADSL 'Bundle 1' (Up to 8Mb Unlimited Broadband and Talk Anytime)
* Monthly cost is £10 per month for customers on Virgin Media's M (2Mb) cable broadband package or Virgin Media's ADSL 'Bundle 2' (Up to 8Mb Unlimited Broadband and Talk Evenings and Weekends) or the basic ADSL up to 8Mb Unlimited Broadband service
* The Virgin Media 1GB USB modem has a one-off cost of £25
* Included data allowance per month is 1GB
* Monthly usage over the 1GB allowance is charged at 1.46 pence per MB
These bundled packages from Virgin Media are available on a 12 month contract and include enough monthly mobile data allowance for over 10,000 plain text emails or around 700 emails, plus 33 hours of web surfing, 66 music tracks and 33 two minute videos.
Graeme Oxby, Virgin Media's Managing Director for Mobile said: "Our 1GB mobile broadband is great for people who need home broadband but also want access to the internet on the move. The bundle is exceptional value and offers complete peace of mind, not only because it comes from genuine broadband experts but also because it offers the safety net of considerably cheaper rates if customers go over the monthly data allowance."
Mobile Broadband is available on 0800 052 3344 at virginmedia.com/shrunk or in any Virgin Media or zavvi store. An online data calculator is also available at virginmobile.com.
For press enquiries:
Alex Wilkinson, Jessica Turner, Sarah Jones or Jessica Carlin at Borkowski on 020 7404 3000
alex@borkowski.co.uk
jessica@borkowski.co.uk
sjones@borkowski.co.uk
jessicac@borkowski.co.uk
Asam Ahmad (Consumer PR) or Emma Hutchinson (Corporate PR) at Virgin Media
Asam Ahmad
+44 (0) 20 7909 2122
Asam.ahmad@virginmedia.co.uk
Emma Hutchinson
+44 (0) 20 7909 2022
Emma.hutchinson@virginmedia.co.uk
Young people should act on debt early
Following a study suggesting that the 18-34 age group are most at risk from the credit crunch, with many carrying significant debts, financial solutions company Think Money have advised people in this age group to take extra care with their finances as the prospect of a recession looms.
Furthermore, they added that debt problems are just as serious for people of any age, and should always be addressed as soon as they start.
The study, carried out by think tank Reform and the Chartered Insurance Institute, claimed that many 18 to 34-year-olds had so far experienced a "uniquely gilded life" which had given them a "false sense of security".
As a result, they have "run up huge credit card bills, smashed their piggy banks and are now staring at a broken housing ladder", the report claims.
The report dubs the age group the "IPOD (Insecure, Pressurised, Over-taxed and Debt-Ridden) generation", and claims that one in five such people carry debts of £10,000 or more, while one in three have no savings.
The overall situation leaves the IPOD generation particularly vulnerable to the current state of the economy, with the report stating that they "have the raw skills to understand their position and the dawning sense of responsibility to do something about it (…) However they are hamstrung by a financial establishment determined to service the old and patronise the young."
A spokesperson for Think Money said: "It may well be the case that many of the large numbers of younger people getting into debt do so because of a diminished sense of responsibility, brought on by comfortable living conditions and, until recently, relatively easy access to credit.
"But with the credit crunch ongoing and a recession becoming a very real possibility, a lot of younger people may be about to experience the kind of struggles that instilled an "instinctive fear", as the report puts it, into people from previous generations.
"Whatever the reason, in the current economic climate, it's more important than ever for people to tackle their debts now. Especially with high-APR debts such as credit cards, it's essential that those debts aren't allowed to grow.
"There are a number of debt solutions designed to help people in different financial situations.
"For people with a number of smaller debts, a debt consolidation loan could help. A debt consolidation loan involves taking out a new loan to pay off all your existing debts, meaning you only have to repay one creditor instead of many. The interest rate is often smaller than your original debts, especially if you are paying off high-APR debts such as credit cards – although if you choose to lower your monthly payments by spreading them out over a longer period, this will incur more interest which could cancel out the benefit of a lower overall rate of interest.
"If you have a number of debts that you are struggling to repay, a debt management plan might be a better option. This involves speaking to a debt adviser, who will discuss your financial situation in confidence, and will then negotiate with your creditors to agree repayments based on how much you can afford each month. In many cases, interest and other charges can be frozen, reducing the total amount you have to pay.
"If you have more serious debts of over £15,000, an IVA (Individual Voluntary Arrangement) could get you debt-free in five years. An IVA involves making regular monthly payments to your creditors based on the amount you can afford to repay, and after the five-year period your remaining debt will be considered settled.
"However, be aware that an IVA requires approval from creditors holding a total of at least 75% of your debts before it can go ahead, and you may be required to withdraw some of the equity in your home in the fourth year of your IVA.
"Debt affects people of all ages, so we urge anybody struggling with debt to seek expert debt advice as soon as possible."
Think Money (www.thinkmoney.com/debt/) are a financial solutions company based in Salford Quays, Manchester. They specialise in a wide range of debt advice and solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements).
Topshop launch 3 striking new capsule collections for Christmas 2007
Topshop launch 3 striking new capsule collections for Christmas 2007
Topshop draws from an exciting stable of design talent to create 3 striking capsule collections for Christmas 2007.
The new Topshop collection form Peter Jensen offers charming party separates bearing jet-black sequins, bows and vibrantly coloured ruffles, while Markus Lupfer artfully applies large-scale pop motifs to his signature knitwear. Ashish's Studio '54 inspired metallic mini dresses and bombers are toughened up with a dark rock-inspired colour palette.
The new designs from Peter Jensen includes classic bow-neck black cardigans covered with sequins and matches a sweet glittering micro-mini skirt, while a shrunken blazer with breech-shaped cropped trousers follow, in school-girl grey, luxury wool. Knotted 'ears' appear on the hood of a cute grey marl jersey zip-through sweater. A tangerine coloured top and black body con dress in fine jersey has tiered ruffles cascading from a sweetheart shape about the neckline.
Markus Lupfer presents knitted jumpers in dove grey, olive and black feature tough metallic sequinned motifs. 'Love/hate' tattooed knuckles, handcuffs, parted lips & cases of lipstick draw inspiration from Siouxsie Sioux, and other British rock 'n roll icons and contrast the slouchy soft knitwear onto which they are set.
Ashish creates a womens fashion collection of 100% silk, hand-stitched and entirely sequined 70''s New York inspired pieces. T-shirt and bandeau dresses have patent belts along and silk bombers appear in midnight blue, purple and shimmering black. Perfectly skimming the body, dresses are made to dance and be seen in, while the high-glamour statement bomber is a head turner.
Peter Jensen commented: "I wanted to keep this range very fun and youthful, there are lots of playful touches which are perfect for the party season." Peter's autumn fashion range for Topshop will be stocked in Topshop Oxford Circus, online at Topshop.com, Selfridges, and Manchester Arndale.
Markus Lupfer adds: "Of all the pieces I have done for this collection, my favourite is the LOVE-HATE jumper. I wanted something fresh that was about music and youth culture." Markus's for Topshop jumpers will also be stocked in Topshop Oxford Circus and Topshop.com
Topshop draws from an exciting stable of design talent to create 3 striking capsule collections for Christmas 2007.
The new Topshop collection form Peter Jensen offers charming party separates bearing jet-black sequins, bows and vibrantly coloured ruffles, while Markus Lupfer artfully applies large-scale pop motifs to his signature knitwear. Ashish's Studio '54 inspired metallic mini dresses and bombers are toughened up with a dark rock-inspired colour palette.
The new designs from Peter Jensen includes classic bow-neck black cardigans covered with sequins and matches a sweet glittering micro-mini skirt, while a shrunken blazer with breech-shaped cropped trousers follow, in school-girl grey, luxury wool. Knotted 'ears' appear on the hood of a cute grey marl jersey zip-through sweater. A tangerine coloured top and black body con dress in fine jersey has tiered ruffles cascading from a sweetheart shape about the neckline.
Markus Lupfer presents knitted jumpers in dove grey, olive and black feature tough metallic sequinned motifs. 'Love/hate' tattooed knuckles, handcuffs, parted lips & cases of lipstick draw inspiration from Siouxsie Sioux, and other British rock 'n roll icons and contrast the slouchy soft knitwear onto which they are set.
Ashish creates a womens fashion collection of 100% silk, hand-stitched and entirely sequined 70''s New York inspired pieces. T-shirt and bandeau dresses have patent belts along and silk bombers appear in midnight blue, purple and shimmering black. Perfectly skimming the body, dresses are made to dance and be seen in, while the high-glamour statement bomber is a head turner.
Peter Jensen commented: "I wanted to keep this range very fun and youthful, there are lots of playful touches which are perfect for the party season." Peter's autumn fashion range for Topshop will be stocked in Topshop Oxford Circus, online at Topshop.com, Selfridges, and Manchester Arndale.
Markus Lupfer adds: "Of all the pieces I have done for this collection, my favourite is the LOVE-HATE jumper. I wanted something fresh that was about music and youth culture." Markus's for Topshop jumpers will also be stocked in Topshop Oxford Circus and Topshop.com
Debt management essential as recession approaches
Debt management essential as recession approaches
Following Bank of England Governor Mervyn King's announcement that the British economy is entering a recession, debt management company Gregory Pennington have warned that financial hardship is likely to be widespread in the coming months, adding that the public should aim to get their finances in order and tackle any debts as a matter of priority.
Speaking at a business conference on Tuesday, Mervyn King told business leaders that the economy faces a "sharp and prolonged slowdown", perpetuated by smaller take-home salaries, soaring living costs and limited access to consumer credit.
"We now face a long, slow haul to restore lending to the real economy, and hence growth of our economy, to more normal conditions," he also said.
On a more positive note, King said that some of the factors causing inflation had "shifted decisively", putting less pressure on the Bank of England to actively control inflation and instead giving them time to address other factors, particularly the cost of consumer lending.
And addressing those concerned about many lenders' reluctance to pass on the Bank of England's recent base rate cut, King offered his assurance that the cuts would eventually have an effect, but said: "It will take time before the [bank bailout] leads to a resumption of normal levels of lending."
A spokesperson for Gregory Pennington warned of the dangers that consumers face as a recession approaches. "One of the biggest dangers is unemployment. Since there will be less money flowing through the economy, businesses will suffer, and many will be forced to make job cuts as a result – which restarts the same cycle.
"We may also see the availability of credit take a further hit, as lenders will be wary that the borrowers may be at a higher risk of losing their jobs than usual. However, the Bank of England are doing their best to ensure that cash flow within banks improves, so it remains to be seen how lenders will react to that as things progress.
"What we can be sure of is that it's essential for the public to address any financial problems they may have, particularly when it comes to debt. Debt is a burden at any time, but carrying debts during such an uncertain time for the economy can be very worrying.
"If borrowers miss payments, the creditors may pursue the whole debts, which can lead to court action and even bankruptcy if they are unable to comply."
The Gregory Pennington spokesperson said that there a number of debt solutions that could help people repay their debts and limit the pressure on their finances as the economy enters a recession.
"For people with multiple debts, a debt consolidation loan can help," she said. "Debt consolidation involves taking out a new loan to cover your existing debts, meaning you only have one creditor to repay.
"Payments can often be reduced by spreading them over a longer period, although you can pay more interest in the long run. Interest rates can also potentially be reduced, especially if you are consolidating high-APR debts such as credit cards – but be aware that if you have extended your repayment period, the additional interest incurred can reduce the benefit of a lower interest rate.
"For more unmanageable debts, a debt management plan may be your better option. If you do this through an expert debt adviser, they will assess how much you can realistically afford to repay each month. After that, they will negotiate with your creditors for lower monthly payments and possibly a freeze in interest or other charges.
"For more significant debts of £15,000 or more, an IVA (Individual Voluntary Arrangement) might be more appropriate. This involves making monthly payments over a period of five years, based on how much you can afford. Once that five-year period is over, your remaining debts will be considered settled.
"However be aware that an IVA requires approval from creditors responsible for at least 75% of your debts, and you may be required to release some of the equity tied up in your home in the fourth year of your IVA.
"Before you make any decisions, it's important to seek independent debt advice. A debt adviser will talk you through your situation and will be able to establish which debt solution is right for you."
Gregory Pennington (http://www.gregorypennington.com/) are a financial solutions company based in Salford Quays, Manchester. The company specialises in a range of financial services, including mortgages, loans, debt help and advice (including debt management plans, IVAs, and debt consolidation).
BT Business serves up Microsoft Windows Small Business Server 2008
BT Business serves up Microsoft Windows Small Business Server 2008
From today UK firms looking to keep data more secure, and operations more productive, will be able to work with BT Business to implement the new Microsoft Windows Small Business Server 2008. BT Business will also provide small businesses with fully integrated, end-to-end IT and network infrastructure support.
Not officially launched worldwide by Microsoft until 12 November, Small Business Server 2008 is an integrated server solution that helps to protect business data, increase productivity and present a more professional image to customers. Small Business Server 2008 provides organisations of up to 75 employees with many of the features only previously available to larger businesses, including: e-mail; internal Web sites; remote access, support for mobile devices; file and printer sharing; backup, and restore and the ability to scale as businesses grow or change.
BT Business will add further value to customers by helping with the installation, administration and management through its expert IT services team. BT Business provides IT services to more than 45,000 small and medium businesses across the UK.
According to DTI statistics1, 70% of small businesses never trade again after a catastrophic IT failure, yet 51%2 do not back up daily and 61% do not use a firewall2. With an estimated 67% of SMEs3 currently operating without a server, Microsoft Windows Small Business Server 2008 is designed to deliver a comprehensive, reliable IT infrastructure at an affordable price for organisations with a limited in-house IT capability.
Colin Mattey, director, ICT and solutions, BT Business said: "By making enterprise-level IT and services accessible and affordable for small business for the first time, BT Business is helping UK firms increase productivity and do what they do best: grow their businesses."
From today UK firms looking to keep data more secure, and operations more productive, will be able to work with BT Business to implement the new Microsoft Windows Small Business Server 2008. BT Business will also provide small businesses with fully integrated, end-to-end IT and network infrastructure support.
Not officially launched worldwide by Microsoft until 12 November, Small Business Server 2008 is an integrated server solution that helps to protect business data, increase productivity and present a more professional image to customers. Small Business Server 2008 provides organisations of up to 75 employees with many of the features only previously available to larger businesses, including: e-mail; internal Web sites; remote access, support for mobile devices; file and printer sharing; backup, and restore and the ability to scale as businesses grow or change.
BT Business will add further value to customers by helping with the installation, administration and management through its expert IT services team. BT Business provides IT services to more than 45,000 small and medium businesses across the UK.
According to DTI statistics1, 70% of small businesses never trade again after a catastrophic IT failure, yet 51%2 do not back up daily and 61% do not use a firewall2. With an estimated 67% of SMEs3 currently operating without a server, Microsoft Windows Small Business Server 2008 is designed to deliver a comprehensive, reliable IT infrastructure at an affordable price for organisations with a limited in-house IT capability.
Colin Mattey, director, ICT and solutions, BT Business said: "By making enterprise-level IT and services accessible and affordable for small business for the first time, BT Business is helping UK firms increase productivity and do what they do best: grow their businesses."
Debt advice in the face of a recession
Debt advice in the face of a recession
The deteriorating state of the economy should lead borrowers to review their finances as a matter of urgency, say debt experts Debt Advisers Direct (www.debtadvisersdirect.co.uk), following the Autumn forecast from the Ernst & Young ITEM Club.
"Released on 20th October, the Ernst & Young ITEM Club Autumn forecast 'sees an economy that has deteriorated dramatically in the last quarter and is now in recession'," said a spokesperson for Debt Advisers Direct. "The good news, however, is that the recession is expected to be both short and shallow, with GDP rising – even if only by 1% – in 2010."
"Even so, the impact of today's economic downturn will be profound," the spokesperson continued. "By definition, even a 'shallow' recession involves a shrinking of the nation's economy, with the inevitable consequences: lower spending, higher unemployment, greater uncertainty about the future, etc.
"On an individual level, the threat of a reduced monthly income is likely to lead many to review their financial situation. This isn't to say that economic gloom is a good thing, but everyone needs to stop and take stock of their finances from time to time, and reports such as this can provide a much-needed incentive to do so.
"It's important for everyone – even people with no debts and significant savings – but for the millions of UK consumers in debt, it's particularly vital. Many people in the UK have grown used to spending more and more of their monthly budget on debt repayments. In many cases, those repayments take up almost their entire disposable income, so if anything happens to their income, they could almost immediately face a whole range of consequences, from legal action to bailiffs and County Court Judgments (CCJs) – to say nothing of the damage to their credit rating.
"The important thing, of course, is to take action before it's too late. Seeking professional debt advice is normally the best way to start – any borrower could have a wide range of debt solutions available to them, so it's vital they talk to a professional organisation which understands every option and can provide impartial debt advice, tailored to their individual circumstances."
An Individual Voluntary Arrangement (IVA) or debt consolidation loan, for example, could help someone cope with a reduced income – yet neither debt solution would make sense for someone who's fairly sure they might lose their income (or a significant part of it) in the near future.
"A borrower who is working, but whose job seems to be at risk, may be better off with a flexible debt solution such as a debt management plan: if their income drops, they can ask a professional debt management company to talk to their creditors on their behalf, renegotiating their debt repayments as and when it becomes necessary."
Different borrowers, in other words, will need to adopt different strategies to deal with their debts. "There's no 'silver bullet' for debt. Debt management plans, debt consolidation loans, debt consolidation remortgages, IVAs, even bankruptcy – each has its place, but the debt solution that's right for one person can be completely inappropriate for another. The key thing is to take the time to get the right debt advice before making any commitments."
Decisive moment for world economy
The Prime Minister has spoken of the decisive moment being faced by the world economy as nations seek to work together to tackle the credit crunch and the global downturn.
Speaking ahead of today's special EU Council and a global financial summit in Washington next week, Mr Brown said that the decisions being taken by governments "will affect our world for a decade or more to come".
The PM reiterated his call for reform of international financial markets, an enhanced support facility for economies in distress and progress to be made on a world free trade agreement.
The PM said:
"The decisions that we make now will affect our world for a decade or more to come. And people now recognise that this is a global crisis that requires a global solution. That is the reason why I have been speaking to other world leaders to build agreement on what we can do together to solve the problems, and that is why this is not a time for business as usual.
"If we are to solve the economic crisis and get our economies moving, then we need as a world community to take action together on a number of different fronts."
Mr Brown also said that it was important for lenders to pass on interest rate cuts to mortgage borrowers and small businesses after the Bank of England cut interest rates yesterday by 1.5 percentage points to a 53-year low of three percent.
The PM will travel to Brussels today for a special EU Council on the financial crisis.
Speaking ahead of today's special EU Council and a global financial summit in Washington next week, Mr Brown said that the decisions being taken by governments "will affect our world for a decade or more to come".
The PM reiterated his call for reform of international financial markets, an enhanced support facility for economies in distress and progress to be made on a world free trade agreement.
The PM said:
"The decisions that we make now will affect our world for a decade or more to come. And people now recognise that this is a global crisis that requires a global solution. That is the reason why I have been speaking to other world leaders to build agreement on what we can do together to solve the problems, and that is why this is not a time for business as usual.
"If we are to solve the economic crisis and get our economies moving, then we need as a world community to take action together on a number of different fronts."
Mr Brown also said that it was important for lenders to pass on interest rate cuts to mortgage borrowers and small businesses after the Bank of England cut interest rates yesterday by 1.5 percentage points to a 53-year low of three percent.
The PM will travel to Brussels today for a special EU Council on the financial crisis.
Loans market could still improve despite recession
Loans market could still improve despite recession
Following a week that saw perhaps the strongest signs yet that the economy is about to enter a recession, coupled with warnings from Bank of England Governor Mervyn King and Prime Minister Gordon Brown that a recession is very likely, financial solutions company Think Money (www.thinkmoney.com) have said that the loans market could still see signs of recovery in the coming months, so long as the Government's bank bailout scheme is implemented successfully.
Recession fears hit a new high as figures from the National Office for Statistics showed the first drop in economic output in 16 years between July and September this year. Output fell by 0.5%, exceeding economists' predictions.
If the British economy records another fall in output in the fourth quarter of 2008, it will be officially considered a recession – although many experts, such as the Ernst & Young ITEM Club, have expressed the opinion that we are already in a recession.
And at a meeting of business leaders at the Leeds Chamber of Commerce, Bank of England Governor Mervyn King said in a speech: "it now seems likely that the economy is entering a recession."
Regarding the market for loans, King commented: "We now face a long, slow haul to restore lending to the real economy, and hence growth of our economy, to more normal conditions."
But a spokesperson for Think Money said that it is not the end of the road for the loans market. "It's logical to assume that it may become more difficult on the whole to obtain loans, mortgages and other forms of credit – but that doesn't mean it will be impossible to obtain loans for the duration of the recession.
"The Government's bank bailout scheme is aimed at stimulating the market for personal loans as well as business loans, and the cash injections should give lenders increased confidence in their ability to offer loan products. The falling LIBOR rate is a good indicator that, in the short term at least, this has been working.
"It's important to remember that financial institutions depend on interest from loans as a source of income, so lenders will have to remain as competitive as they can be in that respect."
The Think Money spokesperson added that both secured and unsecured loans should be available in some capacity. "Lenders will feel more confident offering secured loans, as they are backed up by assets which act as a potential 'guarantee' to the lender," she said. "In this respect, lender confidence isn't so much as an issue as the lack of liquidity, which should hopefully improve with the bailout scheme, as well as any future base rate cuts.
"Unsecured loans may prove a little more difficult for consumers to obtain than secured loans, as they are often perceived as 'higher risk' by lenders, but it will still be very much possible – it may just take longer to find the right deal.
And the spokesperson was keen to emphasise the importance of loans advice in times of economic difficulty. "Speaking to a professional loans adviser can often make the difference when it comes to finding the best loan deals," she commented.
"A loans adviser will talk through your financial situation in confidence, and will advise you on what you can expect in terms of the type of loan, interest rates, and the amount you can borrow. Once they have done that, they will be able to search the market for you, saving you valuable time and effort, and hopefully meaning you will end up with a loan that suits your needs."
AffordableVision.com Takes The High Road While Offering Cheap Eyeglasses Online
AffordableVision.com Takes The High Road While Offering Cheap Eyeglasses Online
Quality and value over the cheapest pricing sets international eyeglass retailer apart from the pack
Phoenix, AZ -November 7, 2008- Online eyeglass options for budget conscious shoppers has just gotten better. AffordableVision.com has announced the launch of a new website offering complete quality eyeglasses starting at under $40.00.
With the introduction of its new site AffordableVision.com has established itself as an alternative option for consumers who are more interested in quality, value and experience than simply on the cheapest prices available.
"With over 30 years of experience supplying eye clinics and private doctors with eyewear frames and lenses we were very interested in finding a way to offer this same quality to the general public at 75% less," said AffordableVision.com spokesman Paul Edwards. "Today's technology allows us to use that experience to sell those same frames and lenses at true wholesale pricing. Our philosophy is that our customer's vision is too important to sacrifice by selling cheap quality lenses just to make additional profits. The old saying that you get what you pay for is definitely true in the optical business. We feel confident people will see the difference in our website and business compared to others. "
In addition to value driven prices AffordableVision.com manufactures its own eyewear frames. They attend international optical shows and have complete control over pricing, quality, designs etc. Unlike other retailers AffordableVision.com is based in the United States so all sales go to supporting American Jobs.
For more information or to purchase quality affordable eyeglasses please visit AffordableVision.com.
Tuesday, November 4, 2008
Halifax Supports Calls For Sale And Rentback Regulation
Following the Government's acceptance of recommendations by the Office of Fair Trading, Halifax welcomes proposals for the statutory regulation of the sale and rentback industry by the Financial Services Authority (FSA).
Halifax is today asking the Government to provide a timeline to introduce a regulatory framework to the industry.
Sale and rentback market
Sale and rentback providers are private companies and individuals that buy properties, at a price that is frequently below market value, and then enable homeowners to stay in their property as rent-paying tenants. The OFT report suggests there is in excess of 1000 providers who typically target borrowers who are facing difficulty repaying their mortgage.
Halifax supports the call for regulation to deliver protection for consumers and aims to:
oimprove transparency for consumers
oprovide disclosure in the market through the provision of a key facts document
oprovide a method of recourse for customers who are unhappy with their sale and rentback arrangement and
oensure that compensation is available should it be necessary.
Joe Higgins, head of mortgages for Halifax said, " Halifax fully supports the Government's action in response to the OFT's recommendation to regulate sale and rentback. If homeowners are in trouble, they need the highest levels of support in the form of transparency and an appropriate level of protection. However, homeowners in a vulnerable position should not be subject to a long delay. We're asking the Government to outline its expectation for the implementation of regulation, so that sale and rentback does not remain an unregulated market for any longer than is necessary."
-ends-
Notes to Editors
1.On 15 October, the Office of Fair Trading issued a report into the sale and rentback sector which recommended statutory regulation. A Treasury statement on October 22 confirmed that the Government accepted the OFT's proposals and outlined that a consultation paper on the findings will be published.
2.The Council of Mortgage Lenders, Citizens Advice and Shelter have all called upon the Treasury to allow the FSA to regulate sale-and-leaseback schemes, in order to provide greater protection for consumers.
Media Enquiries:
Nathan Wallis
Halifax Press office
Tel: 07890 736503
Monday, November 3, 2008
San Diego insurance agency expands offering
San Diego insurance agency expands offering
San Diego Insurance agency is opening it's doors and expanding it's product line with affordable California Home and Health Insurance products to meet your individual and family needs. We are now a leading independent insurance agency in California offering affordable auto, home insurance, California Health Insurance, and apartment building insurance.
San Diego's leading independent insurance agency is now expanding it's insurance product line with affordable Home Insurance and California Health Insurance from many leading insurance carriers. We are now proud to also introduce very competitive rates and coverage's for apartment building insurance in California. By working with many top rates health insurance carriers like Blue Cross and Blue Shield, you can compare rates and even apply for health insurance online.
As an auto and home insurance agent, we can help you package your car and home insurance to take advantage of the money saving discounts and credits. By working with many insurance carriers, we can help you find the best coverage at best rate. Our affordable California home insurance customer service is one of the fastest and we can help coordinate everything with your Escrow company to ensure a smooth closing for you. Besides California Home Insurance and health insurance, we can also help with your condo insurance and renter's insurance needs.
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If you would like more information about California Home Insurance or to schedule an interview with John Tesoriero, please call 619-299-6000
Friday, October 31, 2008
GadgetAdvisor.com Launches Featuring Top Technology News Chosen Daily
GadgetAdvisor.com Launches Featuring Top Technology News Chosen Daily
Fast-growing new web site, GadgetAdvisor.com, presents only the top news in technology, gadgets, computer software, and computer hardware.
GadgetAdvisor.com (http://www.gadgetadvisor.com) is quickly becoming a top site for technology news. The recently launched web site is loaded with hand-selected electronics stories relating to computer software, computer hardware, and gadgets, chosen to reflect the most significant, useful or particularly cool. No more scrolling through page after page of uninteresting or minor update items. GadgetAdvisor.com presents only the top technology news in an attractive, easy to read interface.
“People looking for the latest in technology, whether computer software, computer hardware or gadgets, should make GadgetAdvisor.com their first stop,” said Chris Hoffman, spokesperson for GadgetAdvisor.com.
Grouped into separate sections for gadgets, tech news, computer software, computer hardware as well as feature articles, readers can quickly and easily find technology news of interest and unbiased reviews on a whole range of products.
Reading the latest technology news on GadgetAdvisor.com is designed to be social, not solitary. Each entry is tagged so users can quickly find related topics. A ‘share this’ option makes it easy to post individual entries to a range of sharing and bookmarking sites, and to create trackbacks so readers can blog about stories as well. The site is available as an RSS feed, meaning readers can be the first to know when GadgetAdvisor.com has something new. And handy tools let readers track down technology news stories according to which is most popular and which is generating the most buzz.
Find unbiased reviews of computer software, computer hardware or gadgets, and the tech news that matters with no bias or fluff at GadgedAdvisor.com.
About GadgetAdvisor.com
GadgetAdvisor.com provides technology news and unbiased opinions about a range of computer software, computer hardware and gadgets. News is picked to reflect what people are actually interested in. The site is operated by Mystik Media, a leader in graphics and multimedia software solutions, as well as web sites for free online games, interesting facts, and much more.
Wednesday, October 29, 2008
Adidas Introduces Originals by Originals
Adidas Introduces Originals by Originals
February 1st, 2009 marks the launch of an outstanding collaboration between adidas Originals and three of the world's most unique and creative streetwear and fashion designers - Originals by Originals. Jeremy Scott, Alyasha and Kazuki have each created a mini collection of groundbreaking adidas Originals apparel and footwear products for men and women that will be exclusively available in selected boutiques, fashion doors and Originals stores globally from spring/summer 2009. Each product features the Originals by Originals logo and the respective designer logos.
Hermann Deininger, CMO of adidas Sport Style comments on Originals by Originals: "When we enter into any new partnership for adidas Originals, it is essential to offer something truly unique and new for our consumers. I am thrilled to say that with Originals by Originals we are staying true to the spirit by bringing great Originals products to market designed by the most original and creative designers of today: Jeremy Scott, Alyasha and Kazuki. There is no question that these are unexpected designs that have never been seen before in the street fashion marketplace and truly take Originals to the next level."
The ObyO concept was conceived to express adidas' brand positioning: Celebrate Originality. Season after season, this program will allow adidas to offer consumers cutting edge footwear and apparel that reflects the diversity and creativity of the designers and icons who work close to our brand in a totally new and different way.
Originals by Originals is the most diverse, authentic and expressive collaborations the Trefoil brand has entered into. Each of the three Originals by Originals lines is based on Originals products interpreted by each designer. Jeremy Scott gives an insight into his world where mixed-up classic sports silhouettes and fabrics that feature high-end fashion details are key. Inspired by contradictory combinations, the line offers sportswear with leopard prints such as the Boxing shoe within footwear next to nightlife looks such as the Tuxedo Jacket in sporty cotton. Jeremy Scott about partnering with adidas Originals: "I could not think of a better compliment than to be called 'an Original' by adidas and I am so happy to finally make this dream of a collaboration collection with adidas a reality!"
Kazuki successfully brings highly technical and modern influences to a stylized, very wearable streetwear collection. The styles incorporate elements such as waterproof zippers, bonding and taping seamlessly into the design. Footwear highlights call out the KBall Basketball sihouettes that come in exclusive materials.
"The styling of my collection suits me and hopefully the audience that my designs appeal to. I would really like to thank all my friends for their support and inspiration but most importantly I would like to thank adidas for having the vision to give me, a freelance designer, a chance to work on a project like this," Kazuki comments on the new partnership.
Alyasha celebrates the special twist on Americana with an Originals flavor that comes across classic looks. Heavy cotton and genuine materials play a big role together with vintage details and remarkable graphics. Footwear highlight Jivebomber represents a combination of an Oxford-style silhouette and sneaker outsole.
"I hope that my contribution does justice to the Originals by Originals project as a whole. The inspiration came from classic 1940's and 50's styles, with what I hope will be recognized as a somewhat contemporary twist. Easy to wear for the discerning cad."
In the end, it is the sum of the various designer contributions that defines Originals by Originals and makes it exceptional.
All three collections, consisting of a total of 68 apparel pieces and 24 footwear styles, will hit selected retail and fashion doors including boutiques from February 1st, 2009. A wider retail introduction including adidas Originals stores will follow shortly afterwards from March 1st . Apparel prices range from €50 to €140 for core pieces and from €150 to €450 for statement styles. Footwear ranges from €120 to €180 for core and from €200 to €250 for statement pieces.
February 1st, 2009 marks the launch of an outstanding collaboration between adidas Originals and three of the world's most unique and creative streetwear and fashion designers - Originals by Originals. Jeremy Scott, Alyasha and Kazuki have each created a mini collection of groundbreaking adidas Originals apparel and footwear products for men and women that will be exclusively available in selected boutiques, fashion doors and Originals stores globally from spring/summer 2009. Each product features the Originals by Originals logo and the respective designer logos.
Hermann Deininger, CMO of adidas Sport Style comments on Originals by Originals: "When we enter into any new partnership for adidas Originals, it is essential to offer something truly unique and new for our consumers. I am thrilled to say that with Originals by Originals we are staying true to the spirit by bringing great Originals products to market designed by the most original and creative designers of today: Jeremy Scott, Alyasha and Kazuki. There is no question that these are unexpected designs that have never been seen before in the street fashion marketplace and truly take Originals to the next level."
The ObyO concept was conceived to express adidas' brand positioning: Celebrate Originality. Season after season, this program will allow adidas to offer consumers cutting edge footwear and apparel that reflects the diversity and creativity of the designers and icons who work close to our brand in a totally new and different way.
Originals by Originals is the most diverse, authentic and expressive collaborations the Trefoil brand has entered into. Each of the three Originals by Originals lines is based on Originals products interpreted by each designer. Jeremy Scott gives an insight into his world where mixed-up classic sports silhouettes and fabrics that feature high-end fashion details are key. Inspired by contradictory combinations, the line offers sportswear with leopard prints such as the Boxing shoe within footwear next to nightlife looks such as the Tuxedo Jacket in sporty cotton. Jeremy Scott about partnering with adidas Originals: "I could not think of a better compliment than to be called 'an Original' by adidas and I am so happy to finally make this dream of a collaboration collection with adidas a reality!"
Kazuki successfully brings highly technical and modern influences to a stylized, very wearable streetwear collection. The styles incorporate elements such as waterproof zippers, bonding and taping seamlessly into the design. Footwear highlights call out the KBall Basketball sihouettes that come in exclusive materials.
"The styling of my collection suits me and hopefully the audience that my designs appeal to. I would really like to thank all my friends for their support and inspiration but most importantly I would like to thank adidas for having the vision to give me, a freelance designer, a chance to work on a project like this," Kazuki comments on the new partnership.
Alyasha celebrates the special twist on Americana with an Originals flavor that comes across classic looks. Heavy cotton and genuine materials play a big role together with vintage details and remarkable graphics. Footwear highlight Jivebomber represents a combination of an Oxford-style silhouette and sneaker outsole.
"I hope that my contribution does justice to the Originals by Originals project as a whole. The inspiration came from classic 1940's and 50's styles, with what I hope will be recognized as a somewhat contemporary twist. Easy to wear for the discerning cad."
In the end, it is the sum of the various designer contributions that defines Originals by Originals and makes it exceptional.
All three collections, consisting of a total of 68 apparel pieces and 24 footwear styles, will hit selected retail and fashion doors including boutiques from February 1st, 2009. A wider retail introduction including adidas Originals stores will follow shortly afterwards from March 1st . Apparel prices range from €50 to €140 for core pieces and from €150 to €450 for statement styles. Footwear ranges from €120 to €180 for core and from €200 to €250 for statement pieces.
Car Video Screen sales on the up
Car Video Screen sales on the up
In-dash car video screen sales are on the up with sales increasing two-fold over the last twelve months alone. Experts claim that demand for in car entertainment continues to rocket despite the impending global recession.
In car entertainment such as in car video screens (also known as "car indash LCD" and "car LCD screens") are popular with motoring enthusiasts and vehicle customizers who install the systems to their own and client's specifications.
The car modification and cutomization market also continues to grow as consumers look to make the most of their existing vehicles, possibly due to reduced access to car finance.
Leaders in the car video screen markets such as Pioneer electronics and Jensen electronics are leading the way in in-dash entertainment, developing and releasing new models at unbelievable rates.
The boom in interest in the car LCD screen market has sprung a number of online specialists providing a range of advice, sales and service on leading brands.
One leading car video screen supplier has launched niche online store www.carvideoscreen.com, offering consumers a complete range of in car entertainment systems from leading brands such as Pioneer, Jensen & Legacy.
The site offers a complete range of in car entertainment systems including alarm systems, specialist speaker systems, amplifiers and flip down screens. However, it's the indash LCD screens that continue to spark demand with numerous models back ordered up to 3 months in advance.
Recession or no recession, it seems that the car video screen market is still going strong!
Notes to the Editor:
For more information on car video screens, car indash LCD & car LCD screens please visit www.carvideoscreen.com
CarVideoScreen.com offers car video screens such as LCD monitors, in-dash screens, headrest monitors and other car stereo products at wholesale prices. Choose from name brand or reliable alternative LCD screens.
In-dash car video screen sales are on the up with sales increasing two-fold over the last twelve months alone. Experts claim that demand for in car entertainment continues to rocket despite the impending global recession.
In car entertainment such as in car video screens (also known as "car indash LCD" and "car LCD screens") are popular with motoring enthusiasts and vehicle customizers who install the systems to their own and client's specifications.
The car modification and cutomization market also continues to grow as consumers look to make the most of their existing vehicles, possibly due to reduced access to car finance.
Leaders in the car video screen markets such as Pioneer electronics and Jensen electronics are leading the way in in-dash entertainment, developing and releasing new models at unbelievable rates.
The boom in interest in the car LCD screen market has sprung a number of online specialists providing a range of advice, sales and service on leading brands.
One leading car video screen supplier has launched niche online store www.carvideoscreen.com, offering consumers a complete range of in car entertainment systems from leading brands such as Pioneer, Jensen & Legacy.
The site offers a complete range of in car entertainment systems including alarm systems, specialist speaker systems, amplifiers and flip down screens. However, it's the indash LCD screens that continue to spark demand with numerous models back ordered up to 3 months in advance.
Recession or no recession, it seems that the car video screen market is still going strong!
Notes to the Editor:
For more information on car video screens, car indash LCD & car LCD screens please visit www.carvideoscreen.com
CarVideoScreen.com offers car video screens such as LCD monitors, in-dash screens, headrest monitors and other car stereo products at wholesale prices. Choose from name brand or reliable alternative LCD screens.
Monday, October 27, 2008
ThinkMoney.com welcome energy probe
Financial solutions company Think Money have welcomed calls for energy providers to reconsider their prices following the Consumer Focus Energy Supply Probe’s findings about the industry, and added that many energy customers pushed towards debt by the rapid rises in energy prices stood to benefit from any agreement to reduce prices.
In their Energy Supply Probe, Consumer Focus, the new watchdog comprising Energywatch and the National Consumer Council, have called for “immediate action from energy companies to reduce their prices in line with falling oil prices”, adding: “This will be good not just for consumers, but for the whole economy.”
It is currently estimated by Consumer Focus that around 5 million British households are in fuel poverty – in which households spend 10% or more of their total income on domestic energy – with increasing numbers of people feeling the pressure of sharp rises in the prices of electricity and gas over the past year.
Wholesale oil prices have seen a huge drop in little over three months, down from around $147 per barrel in July to the current price of $66 per barrel. Drivers have experienced the benefits almost immediately, with the lowest unleaded petrol prices at 99.8 pence per litre at the time of writing, while airline’s fuel surcharges have also been cut, according to the BBC.
But prices of gas and electricity, which are traditionally closely linked with prices of oil, have shown no such reduction in prices – leaving many consumers “wondering why they are left waiting”, in the words of Consumer Focus chief executive Ed Mayo.
According to Consumer Focus, gas prices have risen by 51% since the start of the year, while electricity bills are up by 28% - meaning the average annual household energy bill stands at £1,308.
A spokesperson for Think Money said: “The existence of the Energy Supply Probe is of great reassurance to the millions of billpayers who have been hit with severe rises in energy prices over the past year, particularly those facing debt problems.
“There has been some justification for the price rises – oil prices stood at $147 per barrel in July, and wholesale gas has also experienced massive rises – but with oil now standing at less than $67 per barrel, and with petrol prices coming down, it’s unclear why domestic energy prices have not also come down.
“Billpayers will hope that the Energy Supply Probe, combined with Consumer Focus’ calls for immediate price reductions, will be enough to ensure that their bills become much less of a burden in the coming months.”
But the Think Money spokesperson added that the potential for forthcoming price reductions did not make existing debt an any less serious issue.
“We have seen increasing numbers of people pushed into debt by rising energy bills over the past few months. Because energy is an essential cost, those people with low incomes have been unavoidably hit hard by energy price rises, and many are finding that they can no longer afford to pay their bills.
“The problem is made worse by higher levels of unemployment, and a lot of people who previously had no trouble paying their bills are finding that they are getting into debt because they simply don’t have the spare income.
“We advise anyone struggling with debt to tackle the issue head-on and seek expert debt advice as soon as possible.”
http://www.thinkmoney.com
In their Energy Supply Probe, Consumer Focus, the new watchdog comprising Energywatch and the National Consumer Council, have called for “immediate action from energy companies to reduce their prices in line with falling oil prices”, adding: “This will be good not just for consumers, but for the whole economy.”
It is currently estimated by Consumer Focus that around 5 million British households are in fuel poverty – in which households spend 10% or more of their total income on domestic energy – with increasing numbers of people feeling the pressure of sharp rises in the prices of electricity and gas over the past year.
Wholesale oil prices have seen a huge drop in little over three months, down from around $147 per barrel in July to the current price of $66 per barrel. Drivers have experienced the benefits almost immediately, with the lowest unleaded petrol prices at 99.8 pence per litre at the time of writing, while airline’s fuel surcharges have also been cut, according to the BBC.
But prices of gas and electricity, which are traditionally closely linked with prices of oil, have shown no such reduction in prices – leaving many consumers “wondering why they are left waiting”, in the words of Consumer Focus chief executive Ed Mayo.
According to Consumer Focus, gas prices have risen by 51% since the start of the year, while electricity bills are up by 28% - meaning the average annual household energy bill stands at £1,308.
A spokesperson for Think Money said: “The existence of the Energy Supply Probe is of great reassurance to the millions of billpayers who have been hit with severe rises in energy prices over the past year, particularly those facing debt problems.
“There has been some justification for the price rises – oil prices stood at $147 per barrel in July, and wholesale gas has also experienced massive rises – but with oil now standing at less than $67 per barrel, and with petrol prices coming down, it’s unclear why domestic energy prices have not also come down.
“Billpayers will hope that the Energy Supply Probe, combined with Consumer Focus’ calls for immediate price reductions, will be enough to ensure that their bills become much less of a burden in the coming months.”
But the Think Money spokesperson added that the potential for forthcoming price reductions did not make existing debt an any less serious issue.
“We have seen increasing numbers of people pushed into debt by rising energy bills over the past few months. Because energy is an essential cost, those people with low incomes have been unavoidably hit hard by energy price rises, and many are finding that they can no longer afford to pay their bills.
“The problem is made worse by higher levels of unemployment, and a lot of people who previously had no trouble paying their bills are finding that they are getting into debt because they simply don’t have the spare income.
“We advise anyone struggling with debt to tackle the issue head-on and seek expert debt advice as soon as possible.”
http://www.thinkmoney.com
Sainsbury's help customers break their 'bag' habit
Sainsbury's help customers break their 'bag' habit
* Sainsbury's announces its success in bag reduction and launches a text service to boost re-use
Sainsbury's is launching a groundbreaking text reminder service to encourage customers to take their carrier bags with them when they go shopping, as 58% of shoppers still say the biggest barrier for not re-using bags is they forget to take them shopping and need a reminder*.
From 1st October 2008, customers can sign up to receive a weekly text reminder to take bags on their chosen day of shopping. Once a time and day is agreed, Sainsbury's will send a free weekly text reminder to customers ahead of their shopping with a prompt to take their bags.
Sainsbury's will also be removing free carrier bags from check-outs in all its stores (excluding convenience) from today. The bags will still be available but hidden from sight at the tills. Re-usable ‘Bag for Life' sales have increased by 63% in the last year and Sainsbury's anticipate a further substantial increase due to their latest plans.
Less than six months since pledging to halve the number of free one-use disposable plastic bags used by its customers by April 2009, Sainsbury's is already over half way to achieving this target. The use of free carrier bags at Sainsbury's has been slashed by 28% since April this year, achieved through a number of in-store trials.
Sainsbury's believes a number of different initiatives are required to bring about a change in consumer behaviour and is finding actions to engage customers in Reducing the number of bags they use, Re-using the bags they have and Recycling bags that are no longer fit for purpose.
Justin King, chief executive, Sainsbury's, said:" It's extremely positive that so many of our customers have reduced their use of free carrier bags in a matter of months. The results clearly show that customers respond to being rewarded and reminded for re-using their bags, and we continue to believe that charging for single-use bags is not the only answer to achieving lasting benefits for the environment.
"Instead, we want to make it easier for customers to be less reliant on free carrier bags and prompt positive behaviour change. We are over half way to reducing bag usage by 50% by April 2009, and we hope our new texting service will drive change in a practical way that helps customers change their bag usage habits."
Dr Aric Sigman, psychologist, said: "Using new carrier bags is considered a relatively ‘simple', ‘superficial' habit. Giving up a dependency on new carrier bags is not the same as giving up chocolate in that the main obstacle is to simply remember to re-use our carrier bags.
We're not denying ourselves something that we crave, we just do things one way as opposed to the other. In fact, we used to re-use our carrier bags until we were offered new bags each time we shopped, which simply created a take-for-granted habit, which should therefore be easy enough to break. So a three-month ‘re-education' period is the optimum time to re-programme our minds and shed our excess habitual baggage."
* Sainsbury's announces its success in bag reduction and launches a text service to boost re-use
Sainsbury's is launching a groundbreaking text reminder service to encourage customers to take their carrier bags with them when they go shopping, as 58% of shoppers still say the biggest barrier for not re-using bags is they forget to take them shopping and need a reminder*.
From 1st October 2008, customers can sign up to receive a weekly text reminder to take bags on their chosen day of shopping. Once a time and day is agreed, Sainsbury's will send a free weekly text reminder to customers ahead of their shopping with a prompt to take their bags.
Sainsbury's will also be removing free carrier bags from check-outs in all its stores (excluding convenience) from today. The bags will still be available but hidden from sight at the tills. Re-usable ‘Bag for Life' sales have increased by 63% in the last year and Sainsbury's anticipate a further substantial increase due to their latest plans.
Less than six months since pledging to halve the number of free one-use disposable plastic bags used by its customers by April 2009, Sainsbury's is already over half way to achieving this target. The use of free carrier bags at Sainsbury's has been slashed by 28% since April this year, achieved through a number of in-store trials.
Sainsbury's believes a number of different initiatives are required to bring about a change in consumer behaviour and is finding actions to engage customers in Reducing the number of bags they use, Re-using the bags they have and Recycling bags that are no longer fit for purpose.
Justin King, chief executive, Sainsbury's, said:" It's extremely positive that so many of our customers have reduced their use of free carrier bags in a matter of months. The results clearly show that customers respond to being rewarded and reminded for re-using their bags, and we continue to believe that charging for single-use bags is not the only answer to achieving lasting benefits for the environment.
"Instead, we want to make it easier for customers to be less reliant on free carrier bags and prompt positive behaviour change. We are over half way to reducing bag usage by 50% by April 2009, and we hope our new texting service will drive change in a practical way that helps customers change their bag usage habits."
Dr Aric Sigman, psychologist, said: "Using new carrier bags is considered a relatively ‘simple', ‘superficial' habit. Giving up a dependency on new carrier bags is not the same as giving up chocolate in that the main obstacle is to simply remember to re-use our carrier bags.
We're not denying ourselves something that we crave, we just do things one way as opposed to the other. In fact, we used to re-use our carrier bags until we were offered new bags each time we shopped, which simply created a take-for-granted habit, which should therefore be easy enough to break. So a three-month ‘re-education' period is the optimum time to re-programme our minds and shed our excess habitual baggage."
Friday, October 24, 2008
Apple Reports Fourth Quarter Results
Apple Reports Fourth Quarter Results
6.9 Million iPhones Sold
Mac Sales Reach All-Time High
CUPERTINO, California—October 21, 2008—Apple® today announced financial results for its fiscal 2008 fourth quarter ended September 27, 2008. The Company posted revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share. These results compare to revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 33.6 percent in the year-ago quarter. International sales accounted for 41 percent of the quarter’s revenue.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone™ and Apple TV® over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.68 billion of “Adjusted Sales” and $2.44 billion of “Adjusted Net Income.”
Apple shipped 2,611,000 Macintosh® computers during the quarter, representing 21 percent unit growth and 17 percent revenue growth over the year-ago quarter. The Company sold 11,052,000 iPods during the quarter, representing eight percent unit growth and three percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 6,892,000 compared to 1,119,000 in the year-ago-quarter.
“Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone—we sold more phones than RIM,” said Steve Jobs, Apple’s CEO. “We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt.”
“We’re very pleased to have grown revenue 35 percent and to have generated $9.1 billion in cash in fiscal 2008,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead, visibility is low and forecasting is challenging, and as a result we are going to be prudent in predicting the December quarter. We are providing a wide range for our guidance, targeting revenue of $9.0 to $10.0 billion and earnings per diluted share between $1.06 and $1.35.”
Apple will provide live streaming of its Q4 2008 financial results conference call utilizing QuickTime®, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Tuesday, October 21, 2008 at www.apple.com/quicktime/qtv/earningsq408/ and will also be available for replay for approximately two weeks thereafter.
*Non-GAAP Financial Measures
During fiscal 2007, the Company began selling the iPhone and Apple TV. Because the Company may provide unspecified features and additional software products to iPhone and Apple TV customers in the future free of charge, in accordance with GAAP the Company recognizes revenue and cost of goods sold for these products on a straight-line basis over their economic lives, with any loss recognized at the time of sale. Currently, the economic lives of these products are estimated to be 24 months. This accounting treatment, referred to as subscription accounting, results in the deferral of almost all of the revenue and cost of goods during the quarter in which the products are sold to the customer. Other costs related to these products, including costs for engineering, sales, marketing and warranty, are expensed as incurred. Further, the costs to develop any future unspecified features and additional software products that may eventually be provided to customers also are expensed as incurred. In contrast, the Company generally recognizes revenue and cost of goods sold for its other products, such as Macs and iPods, at the time of sale, as the Company does not provide future unspecified features or additional software products to those customers free of charge.
In July 2008, the Company began selling iPhone 3G, the second-generation iPhone, and significantly expanded distribution by establishing carrier relationships in over 70 countries. Unit sales of iPhone 3G have been significantly greater than sales of the first-generation iPhone. During the first quarter of iPhone 3G availability ended September 27, 2008, 6.9 million units were sold, exceeding the 6.1 million first-generation iPhone units sold in the prior five quarters combined. As a result of this growth in unit sales, the amount of iPhone revenue and product cost that the Company deferred for recognition in future periods under subscription accounting increased materially in the quarter ended September 27, 2008.
While the GAAP results provide significant insight into the Company’s operations and financial position, management supplements its analysis of the business using financial measures that look at the total sales, related product costs and resulting income for iPhones and Apple TVs sold to customers during the period. The presentation at the end of this press release includes the following non-GAAP measures: “Adjusted Sales,” “Adjusted Cost of Sales,” “Adjusted Gross Margin,” “Adjusted Operating Margin,” “Adjusted Income before Provision for Income Taxes,” “Adjusted Provision for Income Taxes,” “Adjusted Net Income” and “Adjusted Diluted Earnings per Share.” These financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. The Company uses these financial measures, along with other measures discussed below, to provide additional insight into current operating and business trends not readily apparent from the GAAP results.
Management uses Adjusted Sales to evaluate the Company’s growth rate, revenue mix and performance relative to competitors. Given the significant increase in iPhone unit sales during the quarter ended September 27, 2008, Adjusted Sales provides a meaningful measurement of the Company’s growth by reflecting amounts generally due to Apple at the time of sale related to products sold within the period. Further, eliminating the effects of deferred revenue (current sales deferred to future periods and prior sales being recognized currently) provides more transparency into the Company’s underlying sales trends. Management uses the non-GAAP measures of “Adjusted Cost of Sales,” “Adjusted Gross Margin” and “Adjusted Operating Margin” to measure the Company’s operating performance based on current period iPhone and Apple TV sales and to facilitate on-going operating decisions. Additionally, because the Company recognizes engineering, sales, and marketing expenses as incurred, including expenses related to iPhone and Apple TV, management uses Adjusted Sales to evaluate returns on those costs, to manage year-over-year operating expense growth, and to budget future expenses. Furthermore, because they are considered meaningful indicators of current business performance, the non-GAAP measures “Adjusted Sales” and “Adjusted Operating Margin” are metrics that will factor into the determination of management compensation beginning in fiscal year 2009. Finally, management uses the non-GAAP measures of “Adjusted Income before Provision for Income Taxes,” “Adjusted Provision for Income Taxes,” “Adjusted Net Income” and “Adjusted Diluted Earnings per Share” to measure the Company’s operating performance based on current period iPhone and Apple TV sales, to facilitate on-going operating decisions, and compare performance relative to competitors.
Management believes that these non-GAAP financial measures, when taken together with the corresponding consolidated GAAP measures and related segment information, provide incremental insight into the underlying factors and trends affecting both the Company’s performance and its cash generating potential. Management believes these non-GAAP measures increase the transparency of the Company’s current results and enable investors to more fully understand trends in its current and future performance. Beginning with this earnings release, the Company plans to include these non-GAAP measures of financial performance as part of its earnings releases.
Cautions on Use of Non-GAAP Measures
As noted previously, these non-GAAP financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. These non-GAAP financial measures do not adjust for the costs associated with the Company’s intention to provide unspecified new features and software to purchasers of iPhone and Apple TV products. These costs are expensed as incurred under GAAP’s subscription accounting model, and are not adjusted in these non-GAAP financial measures. As such, these non-GAAP financial measures are not intended to reflect in a given period all of the costs of sales made in that period. Rather, the non-GAAP financial measures presented below are intended for the limited purpose of presenting performance measures that include the total sales, related product costs, and resulting income for iPhones and AppleTVs in the period those products are sold to customers.
Management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, management recognizes that:
* these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s GAAP financial measures;
* these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s GAAP financial measures;
* these non-GAAP financial measures should not be considered to be superior to the Company’s GAAP financial measures;
* these non-GAAP financial measures were not prepared in accordance with GAAP and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principles;
* these non-GAAP financial measures are not presented with comparable non-GAAP financial measures for prior periods, although management intends to continue to track and present these non-GAAP financial measures for future periods; and
* until management presents comparable non-GAAP financial measures for additional periods, these non-GAAP financial measures do not provide any information regarding trends in the Company’s performance and, as such, investors should not assume that the presentation of these non-GAAP financial measures reflects any positive or negative trends in the Company’s performance.
Further, these non-GAAP financial measures may be unique to the Company, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies.
A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure or measures appears at the end of this press release.
This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; potential litigation from the matters investigated by the special committee of the board of directors and the restatement of the Company’s consolidated financial statements; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company’s reliance on the availability of third-party digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the effect that product and service quality problems could have on the Company’s sales and operating profits; the Company’s reliance on sole service providers for iPhone in certain countries; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; unfavorable results of other legal proceedings; and the Company’s dependency on the performance of distributors and other resellers of the Company’s products. More information on potential factors that could affect the Company’s financial results is included from time to time in the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 29, 2007; its Forms 10-Q for the quarters ended December 29, 2007, March 29, 2008 and June 28, 2008; and its Form 10-K for the fiscal year ended September 27, 2008, to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
Press Contacts:
Steve Dowling
Apple
dowling@apple.com
(408) 974-1896
Press Contacts:
Nancy Paxton
Apple
paxton1@apple.com
(408) 974-5420
Joan Hoover
Apple
hoover1@apple.com
(408) 974-4570
6.9 Million iPhones Sold
Mac Sales Reach All-Time High
CUPERTINO, California—October 21, 2008—Apple® today announced financial results for its fiscal 2008 fourth quarter ended September 27, 2008. The Company posted revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share. These results compare to revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 33.6 percent in the year-ago quarter. International sales accounted for 41 percent of the quarter’s revenue.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone™ and Apple TV® over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.68 billion of “Adjusted Sales” and $2.44 billion of “Adjusted Net Income.”
Apple shipped 2,611,000 Macintosh® computers during the quarter, representing 21 percent unit growth and 17 percent revenue growth over the year-ago quarter. The Company sold 11,052,000 iPods during the quarter, representing eight percent unit growth and three percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 6,892,000 compared to 1,119,000 in the year-ago-quarter.
“Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone—we sold more phones than RIM,” said Steve Jobs, Apple’s CEO. “We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt.”
“We’re very pleased to have grown revenue 35 percent and to have generated $9.1 billion in cash in fiscal 2008,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead, visibility is low and forecasting is challenging, and as a result we are going to be prudent in predicting the December quarter. We are providing a wide range for our guidance, targeting revenue of $9.0 to $10.0 billion and earnings per diluted share between $1.06 and $1.35.”
Apple will provide live streaming of its Q4 2008 financial results conference call utilizing QuickTime®, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Tuesday, October 21, 2008 at www.apple.com/quicktime/qtv/earningsq408/ and will also be available for replay for approximately two weeks thereafter.
*Non-GAAP Financial Measures
During fiscal 2007, the Company began selling the iPhone and Apple TV. Because the Company may provide unspecified features and additional software products to iPhone and Apple TV customers in the future free of charge, in accordance with GAAP the Company recognizes revenue and cost of goods sold for these products on a straight-line basis over their economic lives, with any loss recognized at the time of sale. Currently, the economic lives of these products are estimated to be 24 months. This accounting treatment, referred to as subscription accounting, results in the deferral of almost all of the revenue and cost of goods during the quarter in which the products are sold to the customer. Other costs related to these products, including costs for engineering, sales, marketing and warranty, are expensed as incurred. Further, the costs to develop any future unspecified features and additional software products that may eventually be provided to customers also are expensed as incurred. In contrast, the Company generally recognizes revenue and cost of goods sold for its other products, such as Macs and iPods, at the time of sale, as the Company does not provide future unspecified features or additional software products to those customers free of charge.
In July 2008, the Company began selling iPhone 3G, the second-generation iPhone, and significantly expanded distribution by establishing carrier relationships in over 70 countries. Unit sales of iPhone 3G have been significantly greater than sales of the first-generation iPhone. During the first quarter of iPhone 3G availability ended September 27, 2008, 6.9 million units were sold, exceeding the 6.1 million first-generation iPhone units sold in the prior five quarters combined. As a result of this growth in unit sales, the amount of iPhone revenue and product cost that the Company deferred for recognition in future periods under subscription accounting increased materially in the quarter ended September 27, 2008.
While the GAAP results provide significant insight into the Company’s operations and financial position, management supplements its analysis of the business using financial measures that look at the total sales, related product costs and resulting income for iPhones and Apple TVs sold to customers during the period. The presentation at the end of this press release includes the following non-GAAP measures: “Adjusted Sales,” “Adjusted Cost of Sales,” “Adjusted Gross Margin,” “Adjusted Operating Margin,” “Adjusted Income before Provision for Income Taxes,” “Adjusted Provision for Income Taxes,” “Adjusted Net Income” and “Adjusted Diluted Earnings per Share.” These financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. The Company uses these financial measures, along with other measures discussed below, to provide additional insight into current operating and business trends not readily apparent from the GAAP results.
Management uses Adjusted Sales to evaluate the Company’s growth rate, revenue mix and performance relative to competitors. Given the significant increase in iPhone unit sales during the quarter ended September 27, 2008, Adjusted Sales provides a meaningful measurement of the Company’s growth by reflecting amounts generally due to Apple at the time of sale related to products sold within the period. Further, eliminating the effects of deferred revenue (current sales deferred to future periods and prior sales being recognized currently) provides more transparency into the Company’s underlying sales trends. Management uses the non-GAAP measures of “Adjusted Cost of Sales,” “Adjusted Gross Margin” and “Adjusted Operating Margin” to measure the Company’s operating performance based on current period iPhone and Apple TV sales and to facilitate on-going operating decisions. Additionally, because the Company recognizes engineering, sales, and marketing expenses as incurred, including expenses related to iPhone and Apple TV, management uses Adjusted Sales to evaluate returns on those costs, to manage year-over-year operating expense growth, and to budget future expenses. Furthermore, because they are considered meaningful indicators of current business performance, the non-GAAP measures “Adjusted Sales” and “Adjusted Operating Margin” are metrics that will factor into the determination of management compensation beginning in fiscal year 2009. Finally, management uses the non-GAAP measures of “Adjusted Income before Provision for Income Taxes,” “Adjusted Provision for Income Taxes,” “Adjusted Net Income” and “Adjusted Diluted Earnings per Share” to measure the Company’s operating performance based on current period iPhone and Apple TV sales, to facilitate on-going operating decisions, and compare performance relative to competitors.
Management believes that these non-GAAP financial measures, when taken together with the corresponding consolidated GAAP measures and related segment information, provide incremental insight into the underlying factors and trends affecting both the Company’s performance and its cash generating potential. Management believes these non-GAAP measures increase the transparency of the Company’s current results and enable investors to more fully understand trends in its current and future performance. Beginning with this earnings release, the Company plans to include these non-GAAP measures of financial performance as part of its earnings releases.
Cautions on Use of Non-GAAP Measures
As noted previously, these non-GAAP financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. These non-GAAP financial measures do not adjust for the costs associated with the Company’s intention to provide unspecified new features and software to purchasers of iPhone and Apple TV products. These costs are expensed as incurred under GAAP’s subscription accounting model, and are not adjusted in these non-GAAP financial measures. As such, these non-GAAP financial measures are not intended to reflect in a given period all of the costs of sales made in that period. Rather, the non-GAAP financial measures presented below are intended for the limited purpose of presenting performance measures that include the total sales, related product costs, and resulting income for iPhones and AppleTVs in the period those products are sold to customers.
Management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, management recognizes that:
* these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s GAAP financial measures;
* these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s GAAP financial measures;
* these non-GAAP financial measures should not be considered to be superior to the Company’s GAAP financial measures;
* these non-GAAP financial measures were not prepared in accordance with GAAP and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principles;
* these non-GAAP financial measures are not presented with comparable non-GAAP financial measures for prior periods, although management intends to continue to track and present these non-GAAP financial measures for future periods; and
* until management presents comparable non-GAAP financial measures for additional periods, these non-GAAP financial measures do not provide any information regarding trends in the Company’s performance and, as such, investors should not assume that the presentation of these non-GAAP financial measures reflects any positive or negative trends in the Company’s performance.
Further, these non-GAAP financial measures may be unique to the Company, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies.
A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure or measures appears at the end of this press release.
This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; potential litigation from the matters investigated by the special committee of the board of directors and the restatement of the Company’s consolidated financial statements; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company’s reliance on the availability of third-party digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the effect that product and service quality problems could have on the Company’s sales and operating profits; the Company’s reliance on sole service providers for iPhone in certain countries; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; unfavorable results of other legal proceedings; and the Company’s dependency on the performance of distributors and other resellers of the Company’s products. More information on potential factors that could affect the Company’s financial results is included from time to time in the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 29, 2007; its Forms 10-Q for the quarters ended December 29, 2007, March 29, 2008 and June 28, 2008; and its Form 10-K for the fiscal year ended September 27, 2008, to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
Press Contacts:
Steve Dowling
Apple
dowling@apple.com
(408) 974-1896
Press Contacts:
Nancy Paxton
Apple
paxton1@apple.com
(408) 974-5420
Joan Hoover
Apple
hoover1@apple.com
(408) 974-4570
Thursday, October 23, 2008
Leading Examination Board to Transform Accounts Payable by Electronically Processing over 250,000 Documents Each Year
Leading Examination Board to Transform Accounts Payable by Electronically Processing over 250,000 Documents Each Year
Cambridge Assessment, Europe’s largest assessment agency, is transforming its accounts payable function, including significantly cutting costs and reducing manual data entry by up to 75%, with the implementation of Version One’s document management, imaging and authorisation systems. These new systems are expected to go-live by the end of 2008.
Leading Examination Board to Transform Accounts Payable by Electronically Processing over 250,000 Documents Each YearVersion One’s solutions, which will be tightly integrated into Cambridge Assessment’s CODA Financials accounting system, will enable the electronic storage and retrieval of up to 250,000 documents each year including invoices, purchase orders and expense claim forms. Cambridge Assessment will also be able to electronically authorise its purchase invoices and automatically capture and verify the data from these invoices using optical character recognition (OCR) technology, significantly reducing manual data entry.
Martin Smiley, Group Financial Controller, from Cambridge Assessment says, “We scoured the market and scrutinised a number of document management suppliers but Version One stood out in offering the required functionality at a cost that was within our budget. As well as having many years’ experience providing integrated document management systems to UK businesses, the company has a proven track record in the area of accounts payable.”
quote
As well as having many years’ experience providing integrated document management systems to UK businesses, the company has a proven track record in the area of accounts payable.
quote- Martin Smiley - Cambridge Assessment
Smiley continues “Time-consuming manual-based processes have been impacting our ability to efficiently process supplier invoices. Currently our purchase ledger clerks have to manually duplicate information from purchase invoices onto separate payment vouchers which is an inefficient use of their time. Identifying the appropriate person to send an invoice to for their approval, writing out the envelope and then placing the invoice in the internal post to one of our multiple sites causes further delays in the approval process.”
Cambridge Assessment only has the space to hold three months of invoices on-site. The remaining invoices are stored in the Group’s large, off-site warehouse facility ten miles away and so retrieving invoices more than three months old can take at least two days and is expensive.
Smiley says, “We can have up to 14 staff manually filing and retrieving documents at any one time because we handle so much paper. Losing claim forms, of which over 200,000 are processed each year, is also all too common. Version One’s software will free-up document storage space, cut expensive archiving costs and make it impossible to lose documents. We will also no longer need to employ temporary staff to undertake filing and basic administrative tasks during peak summer periods, further cutting costs.”
Using a Kodak i1420 scanner and Version One’s DbArchive, all invoices arriving into Cambridge Assessment will be scanned centrally, tagged to the appropriate record in the CODA accounting system and electronically stored. Version One’s OCR technology will automatically capture purchase invoice data, significantly reducing manual data entry. Using authorisation module DbAuthorise, approvers will be automatically emailed a link to the imaged invoice allowing them to approve, reject or query it directly from their PCs with just a click of the mouse, further improving efficiency.
Smiley comments, “Version One’s OCR will reduce manual data entry by approximately 75% and significantly reduce data entry errors. This will enable staff to concentrate on more value-adding activities. In addition, being able to track exactly where invoices are in the approval chain, which is currently impossible, will streamline the approval process, allowing us to improve communications with our suppliers whilst cutting late payment penalties.”
Cambridge Assessment, Europe’s largest assessment agency, is transforming its accounts payable function, including significantly cutting costs and reducing manual data entry by up to 75%, with the implementation of Version One’s document management, imaging and authorisation systems. These new systems are expected to go-live by the end of 2008.
Leading Examination Board to Transform Accounts Payable by Electronically Processing over 250,000 Documents Each YearVersion One’s solutions, which will be tightly integrated into Cambridge Assessment’s CODA Financials accounting system, will enable the electronic storage and retrieval of up to 250,000 documents each year including invoices, purchase orders and expense claim forms. Cambridge Assessment will also be able to electronically authorise its purchase invoices and automatically capture and verify the data from these invoices using optical character recognition (OCR) technology, significantly reducing manual data entry.
Martin Smiley, Group Financial Controller, from Cambridge Assessment says, “We scoured the market and scrutinised a number of document management suppliers but Version One stood out in offering the required functionality at a cost that was within our budget. As well as having many years’ experience providing integrated document management systems to UK businesses, the company has a proven track record in the area of accounts payable.”
quote
As well as having many years’ experience providing integrated document management systems to UK businesses, the company has a proven track record in the area of accounts payable.
quote- Martin Smiley - Cambridge Assessment
Smiley continues “Time-consuming manual-based processes have been impacting our ability to efficiently process supplier invoices. Currently our purchase ledger clerks have to manually duplicate information from purchase invoices onto separate payment vouchers which is an inefficient use of their time. Identifying the appropriate person to send an invoice to for their approval, writing out the envelope and then placing the invoice in the internal post to one of our multiple sites causes further delays in the approval process.”
Cambridge Assessment only has the space to hold three months of invoices on-site. The remaining invoices are stored in the Group’s large, off-site warehouse facility ten miles away and so retrieving invoices more than three months old can take at least two days and is expensive.
Smiley says, “We can have up to 14 staff manually filing and retrieving documents at any one time because we handle so much paper. Losing claim forms, of which over 200,000 are processed each year, is also all too common. Version One’s software will free-up document storage space, cut expensive archiving costs and make it impossible to lose documents. We will also no longer need to employ temporary staff to undertake filing and basic administrative tasks during peak summer periods, further cutting costs.”
Using a Kodak i1420 scanner and Version One’s DbArchive, all invoices arriving into Cambridge Assessment will be scanned centrally, tagged to the appropriate record in the CODA accounting system and electronically stored. Version One’s OCR technology will automatically capture purchase invoice data, significantly reducing manual data entry. Using authorisation module DbAuthorise, approvers will be automatically emailed a link to the imaged invoice allowing them to approve, reject or query it directly from their PCs with just a click of the mouse, further improving efficiency.
Smiley comments, “Version One’s OCR will reduce manual data entry by approximately 75% and significantly reduce data entry errors. This will enable staff to concentrate on more value-adding activities. In addition, being able to track exactly where invoices are in the approval chain, which is currently impossible, will streamline the approval process, allowing us to improve communications with our suppliers whilst cutting late payment penalties.”
Tuesday, October 21, 2008
ThinkMoney.com welcomes base rate cut
Responding to the half-point cut to the Bank of England's base rate, financial solutions company Think Money welcomed its already noticeable impact, and pointed to the implied likelihood of future cuts.
"There's no question that we're facing extraordinary issues today, both globally and nationally," a Think Money spokesperson commented. "As a company, we were pleased to see the Bank of England taking this step – not just dropping the base rate, but dropping it by a substantial amount.
"Furthermore, we're delighted to see major mortgage providers passing that reduction on to consumers. After so many months of negative news, this could make a big difference to many homeowners' financial circumstances, as their variable rate mortgages drop from 7% to 6.5%."
Anyone with a tracker mortgage, meanwhile, is sure to enjoy lower payments at once: The Times predicts immediate benefits for around 4 million people paying home loans that track the Bank's base rate. 'Those with a £150,000 mortgage', it reports, 'will see their interest-only repayments fall by £63 a month'.
"The same goes for other kinds of credit," the spokesperson continued, "from secured loans to credit cards: people with tracker deals will certainly profit from the cut, and borrowers with SVR deals will be following their lenders' reactions closely."
New fixed-rate loans could also drop in price. "Now that the cost of credit has come down, lenders will be able to pass the savings on, giving their customers a better deal without placing their own profits in jeopardy – something which could have a profound impact on their stability at a time like this.
"Looking beyond the actual cut," the spokesperson stressed, "it's equally important to consider the implications – not just what the deal means, but what it says about the Bank of England's assessment of our economy. First, the cut reveals how seriously it is taking today's financial troubles. Second, it implies that the Bank is feeling more comfortable about inflation."
As stated in the Bank's news release about the rate cut: 'The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability'.
"In other words, today's financial crisis has become more of a threat to the nation's GDP – but on the plus side, slowing growth does tend to slow inflation too. The Bank may well have liked to postpone the base rate cut until inflation came down closer to the 2% target, but given the choice between letting the economy deteriorate and losing some ground in the fight against inflation, it chose the latter."
As for the months ahead: "The latest BRC-Nielsen Shop Price Index (SPI) for the UK reveals that annual shop price inflation shrank to 3.6% in September, down from 3.8% in August. It's encouraging to see inflation on the way down, particularly as it gives the MPC more leeway when it comes to future base rate decisions. Various influential bodies are calling for the Bank to make further cuts to the base rate – and there's reason to hope it'll be able to do that."
"There's no question that we're facing extraordinary issues today, both globally and nationally," a Think Money spokesperson commented. "As a company, we were pleased to see the Bank of England taking this step – not just dropping the base rate, but dropping it by a substantial amount.
"Furthermore, we're delighted to see major mortgage providers passing that reduction on to consumers. After so many months of negative news, this could make a big difference to many homeowners' financial circumstances, as their variable rate mortgages drop from 7% to 6.5%."
Anyone with a tracker mortgage, meanwhile, is sure to enjoy lower payments at once: The Times predicts immediate benefits for around 4 million people paying home loans that track the Bank's base rate. 'Those with a £150,000 mortgage', it reports, 'will see their interest-only repayments fall by £63 a month'.
"The same goes for other kinds of credit," the spokesperson continued, "from secured loans to credit cards: people with tracker deals will certainly profit from the cut, and borrowers with SVR deals will be following their lenders' reactions closely."
New fixed-rate loans could also drop in price. "Now that the cost of credit has come down, lenders will be able to pass the savings on, giving their customers a better deal without placing their own profits in jeopardy – something which could have a profound impact on their stability at a time like this.
"Looking beyond the actual cut," the spokesperson stressed, "it's equally important to consider the implications – not just what the deal means, but what it says about the Bank of England's assessment of our economy. First, the cut reveals how seriously it is taking today's financial troubles. Second, it implies that the Bank is feeling more comfortable about inflation."
As stated in the Bank's news release about the rate cut: 'The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability'.
"In other words, today's financial crisis has become more of a threat to the nation's GDP – but on the plus side, slowing growth does tend to slow inflation too. The Bank may well have liked to postpone the base rate cut until inflation came down closer to the 2% target, but given the choice between letting the economy deteriorate and losing some ground in the fight against inflation, it chose the latter."
As for the months ahead: "The latest BRC-Nielsen Shop Price Index (SPI) for the UK reveals that annual shop price inflation shrank to 3.6% in September, down from 3.8% in August. It's encouraging to see inflation on the way down, particularly as it gives the MPC more leeway when it comes to future base rate decisions. Various influential bodies are calling for the Bank to make further cuts to the base rate – and there's reason to hope it'll be able to do that."
Moneysupermarket.com comment on Energy Saving Week
Commenting on Energy Saving Week, Scott Byrom, utilities manager at moneysupermarket.com, said: "We welcome another reminder to keep energy efficiency at the forefront of people's minds. The benefits of 'saving energy' in the home are two-fold; reducing bill-payers outgoings as well as the added benefits to the environment by keeping energy usage to a minimum. Small changes made to your home such as adding loft insulation or upgrading your boiler using the same fuel could save you around £235 a year, and reduces carbon dioxide by two tonnes1.
"Any customers struggling to pay their energy bills need to be proactive and contact their energy supplier to see what options are available to keep their energy bills low. Likewise, energy suppliers need to ensure adequate support is readily available and help is delivered efficiently."
moneysupermarket.com recommends the following energy saving tips:
> Invest in a lagging jacket for your hot water tank and insulate pipes – this will pay for itself in a few months with the money saved.
> Turning your thermostat down by 1°C could cut your heating bills by up to 10 per cent. And if you're going away for winter, leave the thermostat on a low setting to provide protection from freezing at minimum cost.
> Wash clothes at 30oC instead of 40 oC.
> Replace light bulbs with energy saving versions.
> Is your hot water too hot? For most, setting the thermostat at 60°C/140°F is fine for bathing.
> Don't leave the fridge door open longer than necessary and defrost freezers regularly to improve efficiency.
> When cooking leave saucepan lids on as this will allow you to turn down the heat.
> Don't use more water than you need when boiling a kettle as it takes much more electricity to boil a full kettle each time than just enough water for a cuppa or two.
> For those willing to spend money to save money, loft insulation is a great investment. Up to 25 per cent of heat loss occurs through lofts that are not insulated.
> Cavity wall insulation can also prove to be a big money saver. Insulation can save up to 35 per cent of heat loss through walls.
http://www.moneysupermarket.com
"Any customers struggling to pay their energy bills need to be proactive and contact their energy supplier to see what options are available to keep their energy bills low. Likewise, energy suppliers need to ensure adequate support is readily available and help is delivered efficiently."
moneysupermarket.com recommends the following energy saving tips:
> Invest in a lagging jacket for your hot water tank and insulate pipes – this will pay for itself in a few months with the money saved.
> Turning your thermostat down by 1°C could cut your heating bills by up to 10 per cent. And if you're going away for winter, leave the thermostat on a low setting to provide protection from freezing at minimum cost.
> Wash clothes at 30oC instead of 40 oC.
> Replace light bulbs with energy saving versions.
> Is your hot water too hot? For most, setting the thermostat at 60°C/140°F is fine for bathing.
> Don't leave the fridge door open longer than necessary and defrost freezers regularly to improve efficiency.
> When cooking leave saucepan lids on as this will allow you to turn down the heat.
> Don't use more water than you need when boiling a kettle as it takes much more electricity to boil a full kettle each time than just enough water for a cuppa or two.
> For those willing to spend money to save money, loft insulation is a great investment. Up to 25 per cent of heat loss occurs through lofts that are not insulated.
> Cavity wall insulation can also prove to be a big money saver. Insulation can save up to 35 per cent of heat loss through walls.
http://www.moneysupermarket.com
eBay Reports 3rd Quarter Results
eBay Inc. today reported financial results for its third quarter ended September 30, 2008. The ecommerce company posted third quarter revenue of $2.12 billion, up $228 million from the same period last year. Net income on a GAAP basis was $492 million, or $0.38 per diluted share, and non-GAAP net income was $592 million, or $0.46 per diluted share.
"Overall, we are pleased with the performance of the portfolio this past quarter," said eBay Inc. President and CEO John Donahoe. "We took a number of steps during the quarter to further strengthen our business and better align our cost structure to invest and compete. We will continue to stay focused on connecting consumers on our various ecommerce platforms, maintaining financial discipline and capitalizing on new opportunities for growth."
eBay continues to benefit from an increasingly diversified portfolio of businesses. While Marketplaces transaction revenue still represents a majority of revenue for the company, revenue growth rates were helped by growth in PayPal, Skype and global classifieds. The company's global footprint helped it benefit year over year from strength in other currencies relative to the U.S. dollar.
GAAP operating margin increased to 24.7% for the quarter, compared to (49.6%) for the same period last year. Non-GAAP operating margin increased to 31.8% for the quarter, compared to 31.4% for the same period last year. The yearover-year increase in non-GAAP operating margin is due primarily to higher margins from each of the business units, which more than offset the growth from lower-margin businesses, primarily PayPal and Skype. eBay Inc. generated $693 million of operating cash flow during the third quarter. Free cash flow during the quarter was $543 million.
www.ebay.com
"Overall, we are pleased with the performance of the portfolio this past quarter," said eBay Inc. President and CEO John Donahoe. "We took a number of steps during the quarter to further strengthen our business and better align our cost structure to invest and compete. We will continue to stay focused on connecting consumers on our various ecommerce platforms, maintaining financial discipline and capitalizing on new opportunities for growth."
eBay continues to benefit from an increasingly diversified portfolio of businesses. While Marketplaces transaction revenue still represents a majority of revenue for the company, revenue growth rates were helped by growth in PayPal, Skype and global classifieds. The company's global footprint helped it benefit year over year from strength in other currencies relative to the U.S. dollar.
GAAP operating margin increased to 24.7% for the quarter, compared to (49.6%) for the same period last year. Non-GAAP operating margin increased to 31.8% for the quarter, compared to 31.4% for the same period last year. The yearover-year increase in non-GAAP operating margin is due primarily to higher margins from each of the business units, which more than offset the growth from lower-margin businesses, primarily PayPal and Skype. eBay Inc. generated $693 million of operating cash flow during the third quarter. Free cash flow during the quarter was $543 million.
www.ebay.com
Friday, October 17, 2008
Economy still uncertain despite base rate cut
Debt management company Gregory Pennington have warned that the economy remains uncertain, despite a number of signals suggesting a potential recovery, and have advised anyone facing severe financial problems to seek professional debt advice as soon as possible.
The Bank of England Monetary Policy Committee's announcement on Wednesday that the base rate would fall to 4.5% was intended to calm fears surrounding the money market and increase lenders' willingness to do business with one another, subsequently increasing liquidity and boosting the loans market.
A number of lenders announced cuts to their mortgage rates following the base rate announcement – which may come as a relief to prospective homeowners or existing homeowners looking to remortgage, following many lenders' reluctance to respond to the last base rate drop.
Meanwhile, petrol prices recently fell to as little as 103.9 pence per litre, while food price growth slowed by 0.2% in September, according to the British Retail Consortium (BRC) – arousing speculation that overall inflation has hit its peak and will now begin to slow.
However, a spokesperson for Gregory Pennington commented that while there are encouraging signs for the economy, there is no guarantee that further difficulty for the economy can be avoided.
"The first thing to bear in mind is that while the base rate cut is intended to help the economy, it was brought in as an emergency measure," she said. "The threat of a severe economic downturn is still looming and there are no guarantees it can be avoided.
"The fall in oil and food prices are very encouraging, but both are heavily affected by external factors, largely outside our Government's control."
The debt management company spokesperson was keen to emphasise the continued need to take care over finances and manage debts effectively in the coming months. "There is still the possibility that things could get tighter in the near future, so it pays to tackle any financial issues now, rather than waiting to see what happens next.
"People who are struggling with debt are especially at risk, because their finances are already stretched – and any further rises in costs of living could make those debts unmanageable.
"As always, we advise anyone struggling with debt to seek expert debt advice as soon as possible. Leaving it too late could allow your debts to grow, which is particularly dangerous if costs of living do continue to rise.
"There are a number of debt solutions to help with various financial situations. A debt management plan is a flexible means of getting out of debt in which your repayments are based on how much you can afford, and in some cases interest and other charges can be frozen.
"Debt consolidation involves grouping your debts into one convenient monthly payment, therefore simplifying your finances, and your debt can also be spread out over a longer period of time, meaning monthly payments are smaller – although this can mean you pay more interest in the long run.
"For more serious debts of over £15,000, an IVA (Individual Voluntary Arrangement) might be more appropriate. These work by agreeing with your creditors to make payments based on what you can afford for a period of five years, after which the remaining debt is considered settled."
Web Site: http://www.gregorypennington.com
Contact Details: Melanie Taylor
melanie.taylor@gregorypennington.com
0845 056 6480
Pennington House
Carolina Way
South Langworthy Road
Salford
M50 2ZY
The Bank of England Monetary Policy Committee's announcement on Wednesday that the base rate would fall to 4.5% was intended to calm fears surrounding the money market and increase lenders' willingness to do business with one another, subsequently increasing liquidity and boosting the loans market.
A number of lenders announced cuts to their mortgage rates following the base rate announcement – which may come as a relief to prospective homeowners or existing homeowners looking to remortgage, following many lenders' reluctance to respond to the last base rate drop.
Meanwhile, petrol prices recently fell to as little as 103.9 pence per litre, while food price growth slowed by 0.2% in September, according to the British Retail Consortium (BRC) – arousing speculation that overall inflation has hit its peak and will now begin to slow.
However, a spokesperson for Gregory Pennington commented that while there are encouraging signs for the economy, there is no guarantee that further difficulty for the economy can be avoided.
"The first thing to bear in mind is that while the base rate cut is intended to help the economy, it was brought in as an emergency measure," she said. "The threat of a severe economic downturn is still looming and there are no guarantees it can be avoided.
"The fall in oil and food prices are very encouraging, but both are heavily affected by external factors, largely outside our Government's control."
The debt management company spokesperson was keen to emphasise the continued need to take care over finances and manage debts effectively in the coming months. "There is still the possibility that things could get tighter in the near future, so it pays to tackle any financial issues now, rather than waiting to see what happens next.
"People who are struggling with debt are especially at risk, because their finances are already stretched – and any further rises in costs of living could make those debts unmanageable.
"As always, we advise anyone struggling with debt to seek expert debt advice as soon as possible. Leaving it too late could allow your debts to grow, which is particularly dangerous if costs of living do continue to rise.
"There are a number of debt solutions to help with various financial situations. A debt management plan is a flexible means of getting out of debt in which your repayments are based on how much you can afford, and in some cases interest and other charges can be frozen.
"Debt consolidation involves grouping your debts into one convenient monthly payment, therefore simplifying your finances, and your debt can also be spread out over a longer period of time, meaning monthly payments are smaller – although this can mean you pay more interest in the long run.
"For more serious debts of over £15,000, an IVA (Individual Voluntary Arrangement) might be more appropriate. These work by agreeing with your creditors to make payments based on what you can afford for a period of five years, after which the remaining debt is considered settled."
Web Site: http://www.gregorypennington.com
Contact Details: Melanie Taylor
melanie.taylor@gregorypennington.com
0845 056 6480
Pennington House
Carolina Way
South Langworthy Road
Salford
M50 2ZY
Siren lures targeting Facebook users.
Phishing campaign targeting social networking aficionados lures the victims with an arousing message to the ‘almost perfect’ phony site
BitDefender researchers have detected an IM-based spam wave which is being sent automatically to accounts with promises of a “hot date” if the Facebook’s users access the typosquatted link. (See screenshot graphic). The fake Web site, which reproduces the genuine Facebook site extremely well, collects the victim’s log-in credentials by using a php script.
Users should pay extremely close attention to details, such as Web sites names and avoid following links received in e-mail or IM spam. Failing to do so might result in stolen log in credentials. Phishers could exploit them to harvest e-mail addresses, retrieve other contact details stored in accounts or post spam messages or malware disguised behind banner advertising.
“Users should be cautious of any link sent to them via IM or email,” warns Vlad Valceanu, head of BitDefender’s anti-spam research. “Along with paying close attention to Web site names and likes, it is important for computer users to have an IT security solution installed onto their systems in order to avoid future attacks.”
About BitDefender®
BitDefender is the creator of one of the industry's fastest and most effective lines of internationally certified security software. Since our inception in 2001, BitDefender has continued to raise the bar and set new standards in proactive threat prevention. Every day, BitDefender protects tens of millions of home and corporate users across the globe—giving them the peace of mind of knowing that their digital experiences will be secure. BitDefender solutions are distributed by a global network of value-added distribution and reseller partners in more than 100 countries worldwide. More information is available at www.bitdefender.co.uk
Graphic available on request.
Issued by:
Mike Ottewell
MJO Associates for BitDefender UK
Tel: 01538 361217
E-mail: mjo.associates@tiscali.co.uk
Nick Billington
BitDefender Country Manager
(UK and Ireland)
Tel: 08451305096
E-mail: nbillington@bitdefender.co.uk
Fax:- 0845 130 5069
BitDefender researchers have detected an IM-based spam wave which is being sent automatically to accounts with promises of a “hot date” if the Facebook’s users access the typosquatted link. (See screenshot graphic). The fake Web site, which reproduces the genuine Facebook site extremely well, collects the victim’s log-in credentials by using a php script.
Users should pay extremely close attention to details, such as Web sites names and avoid following links received in e-mail or IM spam. Failing to do so might result in stolen log in credentials. Phishers could exploit them to harvest e-mail addresses, retrieve other contact details stored in accounts or post spam messages or malware disguised behind banner advertising.
“Users should be cautious of any link sent to them via IM or email,” warns Vlad Valceanu, head of BitDefender’s anti-spam research. “Along with paying close attention to Web site names and likes, it is important for computer users to have an IT security solution installed onto their systems in order to avoid future attacks.”
About BitDefender®
BitDefender is the creator of one of the industry's fastest and most effective lines of internationally certified security software. Since our inception in 2001, BitDefender has continued to raise the bar and set new standards in proactive threat prevention. Every day, BitDefender protects tens of millions of home and corporate users across the globe—giving them the peace of mind of knowing that their digital experiences will be secure. BitDefender solutions are distributed by a global network of value-added distribution and reseller partners in more than 100 countries worldwide. More information is available at www.bitdefender.co.uk
Graphic available on request.
Issued by:
Mike Ottewell
MJO Associates for BitDefender UK
Tel: 01538 361217
E-mail: mjo.associates@tiscali.co.uk
Nick Billington
BitDefender Country Manager
(UK and Ireland)
Tel: 08451305096
E-mail: nbillington@bitdefender.co.uk
Fax:- 0845 130 5069
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