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"The Company has received nearly 200 qualified applications for the new board positions"
Has anyone come across any recent past listings online for these board of director's positions?
How did the 200 qualified applicants find out about the open KBLB board positions???
Makes a lot of sense...
*Take the appropriate steps necessary to uplist to a major exchange.
*Appoint a new board member (Milleken)
*Milleken takes an equity position in KBLB
(Kim maintains control of the company)
*All this combined, will look more attractive to institutional investors.
Did the DANETCO sign below the Prodigy sign look old? In the picture it does... i wonder why that sign is there???
I can understand your frustration and appreciate your arithmetic...
Do you honestly think at roughly 835 million outstanding shares, that this pps would ever get to $100 per share?
That would be a market cap of 83 billion... Don't think so!
How long does it take to bring a new hybrid silk to market?????????
How long does it take to build a road?
It can take years to build a road because of the enormous amount of work that is involved. It usually takes at least two or three years, and sometimes 10 or more. Before construction begins, years of homework must be done. The environmental, social and economic impact of a road must be studied.
Life of a highway project
http://wisconsindot.gov/Pages/projects/lif-hwy-proj/default.aspx
Strong highway connections drive Wisconsin’s economy. To ensure Wisconsin's transportation network meets personal and business needs it is also necessary to develop strong connections between WisDOT and the state's citizens.
WisDOT welcomes public comments and seeks to work in partnership with citizens and communities to develop a safe, efficient transportation system. A highway project, from concept through construction, is a complex process that involves time, money, expertise in many areas and citizen involvement.
The process of constructing a highway consists of six phases. Communication between citizens and WisDOT is essential at every point in the process. Depending on a project’s complexity, it may take one to six years (or longer) for a highway project to move from concept through construction.
Each year WisDOT completes 350 to 400 state highway projects, costing an average of $1.5 million each. In addition, WisDOT returns more than $500 million to local governments to help finance the operation and improvement of locally-owned roads, streets and bridges.
Phase one: Select project
Highway projects are selected based on a variety of criteria. WisDOT regions identify local needs by analyzing:
Public concerns
Traffic crash reports
Pavement and bridge condition reports
Traffic volume reports
Traffic trends
Forecasts for future demands
A highway’s concept takes shape through a series of public meetings. Citizens are encouraged to ask questions about the type of improvement being considered and how it will improve the quality of the transportation system.
Regional staff work with the public to describe the project, define the project’s goal and outline the need for the project. A preliminary project list is submitted by WisDOT’s five transportation regions to a statewide program.
If a project is selected to be funded, it becomes part of the state’s Six-Year Highway Improvement Program. The program is updated every two years to support citizens' current needs.
A Major Highway Project - a complex and costly project which requires a capacity expansion of over five miles or creation of two and half miles of highway on a new location - requires a more extensive environmental review, public involvement and approval by the Transportation Projects Commission, the State Legislature and the Governor.
Phase two: Investigate alternatives
?After a project is selected to be in the Six-Year Highway Improvement Program, WisDOT continues to listen to citizens' concerns through public information meetings.
Sometimes it is possible for a WisDOT representative to personally visit homes, businesses or farms prior to or during a construction project. A visit from WisDOT personnel offers citizens the chance to gain information, air concerns, discuss issues, or ask for assistance.WisDOT works with citizens to identify project alternatives. Each alternative is analyzed and assessed based on cost and its impact on:
People
Businesses
Farmlands and wetlands
Endangered species
Historic structures and artifacts
Landfills
Public meetings are held to present the recommended improvements with more specific detail about impacts. Small changes can be applied to the plan at this point to help address public concerns and fine-tune the design.
Phase three: Obtain final approvals
WisDOT sends information about its acquisitions from farm operations to the Department of Agriculture, Trade and Consumer Protection (DATCP).
DATCP reviews the information and determines whether to prepare an Agricultural Impact Statement (AIS). When DATCP prepares an AIS it sends copies to the affected farm operations, their legislators and the public. WisDOT commonly includes the AIS in its Environment Impact Statements.
Environmental documents are sent to the Federal Highway Administration (FHWA) for approval if it is a federal project. Similarly, projects that are state funded are approved by WisDOT.
Citizen input is sought throughout the development of the Environmental Impact Statement (EIS) and they may request a copy of the Draft EIS. A public hearing is held to obtain citizen comments on the Draft EIS. However, citizens can give feedback to the transportation region where the project is located at any time.
View more detail on the environmental information page.
Phase four: Develop project design
The specific project route and details are finalized in this phase. Real estate staff meet with affected property owners to discuss land purchases and relocation plans. Real estate staff make every effort to ensure that offering prices reflect "just compensation" for the property.
Through the "In This Together" program, WisDOT works with local businesses to diminish the economic effect of the project. WisDOT offers help to businesses by:
Maintaining access for customers, employees and service vehicles.
Posting highway signs that point drivers to the business districts.
Permitting businesses to temporarily post signs in the highway right of way to reassure customers that businesses are accessible.
Working with business groups to inform citizens, identify alternate routes and promote business.
A project plans, specifications and estimates package is prepared in this phase. It includes:
Plans - drawing of the physical layout of project.
Specifications - how each item in the plan is to be built.
Engineering estimates - listing and estimate of cost of each item of work.
Access management is also analyzed in this phase. Access management is a tool WisDOT uses to ensure that the existing highway system continues to perform with acceptable efficiency and safety.
Phase five: Prepare for construction
The WisDOT Bureau of Highway Construction reviews each plans, specifications and estimates package and prepares it for contractor bidding.
By this time, all land required for the project has been purchased and the project site is prepared for construction. WisDOT coordinates its construction schedule with utility companies who may need to replace sewer, gas, power or phone lines at the same time. Citizens are notified of utility service interruption in advance.
Bids for projects are advertised in the Daily Reporter and Western Builder magazine. Received bids are checked for completeness and accuracy. Awarded contracts are forwarded to the Governor for signature.
Construction usually starts within 30 to 45 days after the contract is awarded, except during winter. The typical construction season is from April to November.
WisDOT sends news releases to area media to keep citizens informed of project starting dates and any changes in traffic or construction.
Phase six: Construction
A pre-construction meeting is held with the contractor, local utilities, Department of Natural Resources (DNR) and local government officials.
WisDOT works with property owners and meets with local businesses and contractors throughout construction. WisDOT ensures all prior commitments to landowners, such as access to homes and businesses, are fulfilled.
Citizens are kept informed of construction progress through meetings and news releases sent to local media. Websites, project newsletters and brochures are developed for larger projects.
When requested by local officials, completion of a major project may be celebrated with a ribbon cutting.
The roadway is inspected every two years to monitor its condition.
Moglino to become new centre of Russian technical textiles production - See more at: http://www.innovationintextiles.com/moglino-to-become-new-centre-of-russian-technical-textiles-production/#sthash.BxGA7KcS.dpuf
Moglino, a special economic zone located in Russia’s Pskov region, is expected to become one of the centres of technical textiles production in Russia in the coming years, thanks to the planned commissioning of at least two new production facilities by the end of this year.
The first of these facilities will be built by Istrem LLC, one of Russia’s leading technical textiles producers, which plans to invest up to RUB 1,2 billion (US$ 20 million) in the new plant. Under the terms of the project, this will be jointly implemented with Finentrep, a French executive consulting and project management company. The new factory will focus on the production of technical textiles with polyurethane covering.
Istrem LLC hopes that the new plant will be officially commissioned in the middle of next year and will have the capacity to produce up to 1 million square metres of technical textiles per year. Finished products will be supplied for the needs of various industries.
It is planned that the new plant will be one of a kind in Russia and will supply its products both to domestic and foreign markets. The project will create more than 100 new jobs.
At the same time, a second facility for the technical textiles production in Moglino will be built by Strimteks, which is another leading Russian technical textiles producer. Similar to Istrem, the project will be implemented in the cooperation with the French investment company NEFI development, while the volume of investments is estimated at US$16 million at the initial stage.
Construction works will start by the end of this year. At the initial stage, the plant will produce up to 1.5 million square metres of technical textiles per year and will reach the capacity of 3 million square metres during the next 1,5 years. Future production will be supplied for the needs of the domestic and the EU markets.
According to Vincent Aubrey, head of NEFI Development, the range that will be produced at the facility will be fully innovative for Russia. He also added that the new material has many advantages, one of the most important of which is high fire stability. According to an official spokesman of Strimteks, future production of the plant can be used in building and finishing of public facilities and real estate, since it is non-toxic and does not support combustion. The enterprise will work exclusively with natural dyes.
The spokesman of the company also added that Strimteks will be able to fill the niche in the Russian market, as well as offer its new products to Western countries.
Finally, in addition to two technical textiles facilities, a new plant for the production of continuous basalt fibre will be also established in Moglino by the local JSC Basalt Projects. The volume of investments in the project is estimated at RUB 2.7 billion, while building of the plant is expected to be completed by the beginning of 2019. According to the company, Russia currently produces about 3,000 tonnes of basalt fibre per year and there is a possibility that the launch of the new plant will allow to significantly increase these figures.
Prospects of technical textiles in Russia
In the meantime, implementation of these projects is part of the government plans for the development of technical textiles industry in Russia during the next several years, according to recent statements of the press-service of the Russian President Vladimir Putin. He made these announcements during the St. Petersburg Economic Forum, one of the most important annual business events in Europe, which concluded last week.
As part of these plans, a new road map for the development of technical textiles industry in Russia will soon be designed and sent to the Russian government for consideration. This has recently been confirmed by Pavel Konkov, the governor of the Ivanovo region.
According to Konkov, the new road map is known as TechNet, and its design will be carried out with the participation of Russia’s leading enterprises in the field of technical textiles and state analysts.
“In recent years technical textiles have become a basis of new technical solutions, which are used in many Russian industrial segments. The list of products, which involve the use of technical textiles in includes conductive elements, antennas, prosthetic blood vessels, road surfaces, so the creation of modern textile technologies is relevant for virtually all sectors of the Russian economy,” Pavel Konkov commented.
Currently, the Russian technical textiles industry experiences an investment boom, which is reflected by a significant increase of investment projects and the arrival of large-scale investors, both foreign and domestic. One of them is AFK Systema, Russian financial conglomerate, which is owned by the Russian billionaire Vladimir Evtushenkov.
According to Mikhail Shamolin, president of AFK Systema, the current potential of the Russian technical textiles market is estimated at more than RUB 100 billion (US$2 billion).
“Currently, the annual volume of technical textiles imports in Russia is estimated at about RUB 95 billion (US$2 billion), the majority of which is still imported from China. At present, Russia mainly specialises in importing ready-made fabrics, which are further used for the production of clothing for army, police, and workers. Currently, the domestic special clothing market is very large both in volume and value terms. According to our plans, Russia has all the needed conditions for the production of these fabrics within the country, despite the fact that the country will have to continue imports of chemical yarns, due to the lack of strong domestic chemical production,” said Mikhail Shamolin.
Russian government to place massive orders for production of technical textiles - See more at: http://www.innovationintextiles.com/russian-government-to-place-massive-orders-for-production-of-technical-textiles/#sthash.lol0OssT.dpuf
Maybe Ruskie already posted this???
The Russian government plans to place massive orders for the production of technical textiles and nonwovens for use in special clothing, as well as defence sector, during the next several years, according to recent statements of an official spokesman of Viktor Yevtukhov, Russia’s Deputy Minister of Industry and Trade.
Currently, special clothing remains probably the most promising segment of the Russian clothing industry, in terms of further growth. In addition, there is an ever-growing demand for innovative solutions, based on nonwovens and technical textiles.
At present, the production of special clothing in Russia is on the rise, while, according to official statistics of the Russian Ministry of Industry and Trade, last year the production volume grew by 33%, compared to 2015. This is mainly due to the ongoing process of import substitution in the industry, combined with big state support.
According to the government forecasts, the demand for innovative technical textile and nonwoven solutions will continue to grow during the next several years, thanks to the ongoing recovery of the major consuming industries and a large state defence order. In the latter case, the Russian government plans to continue active purchases of technical textiles for the needs of the Russian armed forces during the next several years.
Planned purchases should speed up the design of a new generation of military uniform for Russian troops, which was announced by the government several months ago. It is planned that the design of the new uniform will be carried by Russia’s leading special clothing producers, in cooperation with local research institutions.
Currently, the segment of special clothing has big potential for further growth. According to the latest statistics of the Russian Ministry of Industry and Trade, the average annual per capita expenses on employees in Russia is estimated at only US$ 100, compared to US$ 350-400 in the case of the EU states. A significant part of this is allocated for the provision of workers with special clothing, produced on the basis of innovative materials.
According to Yevtukhov, the demand for new uniforms, based on innovative technical textile applications, will be also driven by the ever-strengthening labour protection standards and tightening state regulations.
It is expected that the Russian army will not be the only consumer of the new types of uniforms, as the same materials will also be used for the design of clothing for the national special services, which are in acute need, as the number of special services officers has almost doubled in the last several years.
According to the Russian Ministry of Industry and Trade, in addition to military forces, domestic special services are currently considered as another major consumer of clothing, produced on the basis of innovative materials, in Russia.
Finally, the demand for modern clothing and uniforms should grow significantly from leading Russian state and industrial corporations, such as Rosneft, Gazprom and others, providing additional orders for producers.
Overall, according to Yevtukhov, the Russian market of special clothing could reach 200 billion rubles (US$ 3,5 billion) during the next several years, however, that will mainly depend on the ability of domestic technical textiles and nonwovens producers to ensure stable supplies and the overall business environment in Russia.
The Russian government says it is ready to offer the domestic nonwovens and technical textiles producers stable long-term orders for the manufacture of their products. It is also considering providing additional subsidies to enable producers to pursue further development and production expansion. Currently, the majority of Russian technical textiles and nonwovens producers still experience a shortage of funds, however, due to the existing sanctions’ regime, cheap Western loans still remain unavailable.
Producers were specifically relying on loans provided by the European Bank of Reconstruction and Development (EBRD), which used to be one of the biggest lenders in the Russian technical textiles sector. But the organisation recently announced it decided not to resume its investment activities in Russia.
At the same time, the idea of the Russian government to replace the EU and the US funding by Chinese loans also failed, as the conditions of lending, offered by Chinese bank and financial corporations, were considered by the majority of Russian producers as unacceptable and enslaving.
Many Russian producers also fear the repetition of the situation that happened in the neighbouring Kazakhstan, when the influx of Chinese capital several years ago had resulted in the shift of the majority of Kazakh textiles and technical textiles enterprises under the control of Chinese businesses, including those that had strategical importance for the Kazakh economy.
Due to this, state orders are currently considered as main survival means for Russian technical textiles producers, as well as global enterprises, operating in the country. In the latter case, the government has already announced its plans to create conditions for the attraction of major technical textiles and nonwovens producers to establish and expand their already existing facilities in Russia. As part of this, the government plans to make additional proposals to foreign investors doing business in Russia. This will take place during the forthcoming St. Petersburg Economical Forum, which is will be held from 1-3 June.
Wearing Bug Poop and Mashed-Up Beetles Is the Latest Thing in Eco-Friendly Fashion
www.yahoo.com/style/wearing-bug-poop-mashed-beetles-latest-thing-eco-friendly-fashion-221058638.html
A silkworm and its feces — along with mashed up beetles — are being used by companies like Patagonia for more eco-friendly sources of dyes and materials.
Outdoor clothing company Patagonia prides itself on environmentally and socially responsible business practices, and the label’s latest move proves how far it’s willing to push the envelope. The newly launched Clean Color Collection includes tops, bottoms, and a jacket all manufactured using natural dyes from renewable resources — and a few of those resources include the “poop of silkworms” and “dried beetles,” according to HuffPost.
The dyes, which the company calls Earthcolors, sidestep the toxic chemicals found in dyes used by many major clothing manufacturers. In 2012, Greenpeace brought to light the issue of hazardous textile dyes in its report “Toxic Threads: The Big Fashion Stitch-Up.” The report revealed that many fast-fashion companies — including Zara, Levi’s, Mango, Calvin Klein, and H&M — were using carcinogenic chemicals routinely.
Silkworms have a unique ability to defecate in a rainbow of hues (and you thought only unicorns could!). Scientists made their discovery by feeding silkworms mulberry leaves that were sprayed with fabric dyes, says Popular Science. To their delight, the worms were able to poop out pre-dyed silk — in fact, their entire bodies responded to the colors they were fed.
“The team investigated dyeing silk this way because coloring fabric normally uses enormous amounts of fresh water,” which ends up getting contaminated in the process and then returned to the water supply, says Pop Sci. Though the process of using silkworm-produced dyes is not yet employed on a large scale, some green-minded manufacturers, like Patagonia, are leading the charge. Patagonia said that many of its natural dyes use less water, energy, and carbon dioxide than its competitors do.
And then there’s the dried beetles; you may want to brace yourself for this one. According to Live Science, extract from the cochineal beetle — found mainly in Peru and the Canary Islands — is routinely used to dye food (yes, food) red. “The insects are sun-dried, crushed, and dunked in an acidic alcohol solution to produce carminic acid, the pigment that eventually becomes carmine or cochineal extract, depending on processing,” the publication says. “About 70,000 insects are needed to produce a pound of dye.” Though it can be an allergen to some, carmine is considered a natural dye and is not considered unhealthy.
In addition to these seemingly icky yet socially responsible resources, Patagonia is using byproducts of food waste — including palmetto and mulberry leaves, pomegranate rinds, citrus peels, and leftover fruit — as natural dyes. The food byproducts will be used to manufacture clothing as opposed to decomposing in landfills, where they’d release methane, a severely potent greenhouse gas, says the Organic Consumers Association.
Patagonia sees this as just the latest in its push for more environmentally sound practices. In 2016, founder Yvon Chouinard published “The Responsible Company,” a guide about the hazards of the textile dyeing industry. “The textile industry is one of the most chemically intensive industries on earth, second only to agriculture, and the world’s largest polluter of increasingly scarce freshwater. The World Bank estimates nearly 20 percent of industrial water pollution comes from textile dyeing and treatment,” the guide reads.
Patagonia also launched a program this month that allows consumers to bring in used Patagonia items in exchange for store credit. “Patagonia plans on cleaning and repairing the older items and selling them at a discounted price on its new Worn Wear website,” says HuffPost, which also notes that in December, “the company donated $10 million in sales on Black Friday to numerous grassroots environmental groups.”
It would be great to see KBLB's spider silk polymers get incorporated into the NIKE reinforced denim.
Five Charlie Howland U.S. Patent references cited on the NIKE Patent.
www.barrons.com/articles/nike-has-a-new-blueprint-for-athletic-jeans-1493140786
NIKE Architecturally reinforced denim Patent
A denim fabric with high tenacity and/or moisture management and/or stretch materials is provided. Proportions of materials in the denim fabric may vary during the weave of the fabric to create different performance zones in the resulting garment with or without assembling different fabric pieces.
patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=/netahtml/PTO/search-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN/9624608
Having thus described the invention, what is claimed is:
1. An architecturally reinforced denim woven fabric comprising: a first face and an opposite second face, wherein the first face is different from the opposite second face; at least a first woven performance zone comprising a first ratio of synthetic fiber to natural fiber, wherein the first woven performance zone is positioned at a first location on the architecturally reinforced denim woven fabric, wherein the first woven performance zone comprises: (1) up to a 63 weight percent cotton fiber; (2) at least a 35 weight percent combination of moisture management polymer fiber and high tenacity polymer fiber, wherein the high tenacity polymer fiber is in one or more warp yarns, and wherein the moisture management polymer fiber is in one or more fill yarns of the architecturally reinforced denim woven fabric and wherein the one or more warp yarns are exposed on the second face and the one or more fill yarns are exposed on the first face; and (3) at least a 2 weight percent elastic polymer fiber; and at least a second woven performance zone comprising a second ratio of synthetic fiber to natural fiber, wherein the first ratio of synthetic fiber to natural fiber is different than the second ratio of synthetic fiber to natural fiber, and wherein the second woven performance zone is positioned at a second location on the architecturally reinforced denim woven fabric such that it is integrally woven and seamlessly adjacent to the first woven performance zone.
cases.primeclerk.com/aeropostale/Home-DocketInfo
Wednesday, March 15, 2017 at 11:00 a.m. (Prevailing Eastern Time)
PLEASE TAKE FURTHER NOTICE that, except as otherwise ordered by the
Bankruptcy Court, the Case Management Order governs the scheduling of all matters to be heard
on the foregoing hearing date.
PLEASE TAKE FURTHER NOTICE that the omnibus hearing will be held
before the Honorable Sean H. Lane, United States Bankruptcy Judge, in Courtroom 701, United
States Bankruptcy Court for the Southern District of New York, One Bowling Green, New York,
New York 10004 unless otherwise ordered by the Bankruptcy Court.
Dated: February 16, 2017
New York, New York
This foam stops bullets cold and pulverizes them to dust
www.foxnews.com/tech/2017/02/23/this-foam-stops-bullets-cold-and-pulverizes-them-to-dust.html
My guess is we will get a PR next Tuesday that will help devalue the current PPS.
Dear friends and fellow shareholders, Guess what??? We recently planted the White Mulberry trees, just like we said we would... lol
How about some news, that will grow shareholder value!!! Or can't Kraig release explosive news until tax refund time??? I haven't looked back in the past PR's, but I wouldn't be surprised to see a correlation between more dominant PR's being released during tax refund season.
Kevlar Timeline
Considering we don't have the resources like Dupont... I don't think Kraig Labs is doing that bad.
www.flickr.com/photos/dupont_news/14855397520/in/photostream
timerime.com/en/timeline/83772/History+of+Kevlar/
History of Kevlar
1965-Kevlar developed by Stephanie Kwolek,a research scientist,by spinning fiber from liquid crystalline solutions.Primary purpose to replace steel cords in tires.
1970-Researcher Herb Blades developed the revolutionary air gap spinning process which enables large-scale production of Kevlar fibers.
1971-Kevlar mass-produced in large quantities.
1975-The first field trial of Body Armour was tested,conducted by police officers and sponsored by the National Institute of Justice.
1978-The Body Armour was adopted by the U.S. Military for use in the flack jacket and in the PASGT(Personnel Armor System for Ground Troops)helmet.
1981-The U.S. Military specifies that protective apparel be worn by its personnel;most of the protective apparel contained Kevlar.
1982-The U.S. Military purchase the PASGT vest,which provides extraordinary protection against fragmentations.
1985-The U.S. Military purchase the PASGT helmet,at the time the best protection available against fragmentations,flame and heat.
1987-The U.S. Military places a major order for the CVC vest because it offers superior ballistic protection from spall and fragmentation and does not melt or support combustion in the air.
1988-The U.S. Military purchases a large order of CVC helmets.
1991-The Gulf War.Most U.S. combat soldiers wore helmets made of Kevlar.The PASGT vest worn by military personnel played a critical role in reducing the number of casualties during Operation Desert Storm.
1993-Fragmentation and bullet resistant Ranger Vest helped save lives of military personnel in Somalia.
1994-Countermine and bomb suits containing Kevlar helped protect Army personnel serving in Somalia and Bosnia.
1995-Kevlar Correctional introduced.It was the first 100% soft woven fabric for stab protection in correctional institutions.
invention.si.edu/stephanie-kwolek-kevlar-inventor
From the time Kwolek first stirred that solution in a test tube, it took six years to produce Kevlar commercially. “It turned out to be a great team effort in the end.”
Senate panel vote on Trump Treasury pick delayed as Democrats object
www.msn.com/en-us/news/politics/senate-panel-vote-on-trump-treasury-pick-delayed-as-democrats-object/ar-AAmqp8C?li=BBnb7Kz
WASHINGTON, Jan 30 (Reuters) - The Senate Finance Committee has delayed a vote on President Donald Trump's nominee for Treasury Secretary, Steven Mnuchin, until Tuesday morning after Democrats objected to a request to hold a vote on Monday night, a Republican spokeswoman for the panel said.
The "irregular objection" from Democrats to the evening vote means that the panel will now vote at 10 a.m. EST on Tuesday, when the committee will also vote on Tom Price's nomination as secretary of Health and Human Services, said Julia Lawless, a spokeswoman for the committee's chairman, Senator Orrin Hatch.
Lots of talk today regarding the TPP. Not sure if the Trump "border adjustment tax" has been discussed and what are the implications pertaining to Kraig Biocraft Laboratories or any potential collaborative partnerships manufacturing overseas???
Under Armour has launched an initiative called "Project Glory". I'm hoping KBLB will be a collaborative partner with UA going forward with this local production manufacturing mindset... Hopefully it will be feasible???
http://www.forbes.com/sites/greatspeculations/2017/01/23/heres-how-under-armour-can-be-impacted-by-the-proposed-border-adjustment-tax/#3b1d362c21c6
Here's How Under Armour Can Be Impacted By The Proposed 'Border Adjustment Tax'
As the Trump administration takes charge, talks of “border adjusted tax” are now taking center stage. Part of the House GOP’s corporate tax reform plan, this change would lead to a 20% tax on goods sold in the U.S. but manufactured overseas which are imported into the country. While the reform plan also proposes the reduction of corporate taxes on profits from the current 35% to 20%, it clearly favors exports over imports. Retailers such as Under Armour (NYSE: UA), who manufacture a significant percentage of their products overseas and depend on the domestic market for sales, can be severely impacted by this proposed change in taxes. In 2015, Under Armour launched an initiative called “Project Glory” under which it is looking to manufacture products closer to the markets where they are sold. However, before this project was launched, 65% of its products were made in China, Jordan, Vietnam and Indonesia. While a shift to local production is in the cards, it might not be possible for the company to shift its entire production to the U.S. (where it sells nearly 85% of its goods) to benefit from the proposed new tax policy. Given that a significant portion of its production happens outside the U.S., Under Armour is likely to be impacted negatively from the border adjustment tax, if it is enacted. Economists argue that the new tax policy would lead to a sharp rise in the value of the U.S. dollar – anywhere from 20-25%. These should lead to a decrease in the costs for retailers and they would not be impacted negatively from this policy. However, adjustment in the value of the dollar might be a long term process and affected by several other factors. An immediate impact of the new tax policy would be a significant increase in the post-tax value of goods imported from overseas manufacturing facilities, impacting the margins of these companies negatively.
According to our estimates, Under Armour’s apparel gross margin is likely to increase gradually from 47.3% in 2017 to nearly 48.7% by the end of our forecast period.
There can be a nearly 10% downside to our price estimate, if these margins fall to around 38% by the end of our forecast period, due to the higher costs of goods sold, given the new tax policy. A higher decline in these margins can lead to a further downside in our price estimate.
Under Armour is expanding internationally and Greater China has been a revenue driver for the company in 2016. The company can sell goods manufactured outside the U.S. in its international markets to save the import tax. However, the U.S. still remains its primary market and it will have to import these goods to cater to its domestic customers. For the September 2016 quarter, 15% of Under Armour’s sales were from the international market, up from 10% in the September 2015 quarter. Under Armour is heavily dependent on the domestic market for its revenues and a significant portion of its products are manufactured overseas. Given this mismatch, the new tax policy would indeed affect the company’s profitability adversely in the short term, if it comes to pass.
www.baltimoresun.com/business/bs-bz-under-armour-local-manufacturing-20151010-story.html
Under Armour's vision for future manufacturing: make local for local
Before calling it Project Glory, Under Armour executives batted around another name for a project launching next year to make products in local markets.
"Black Swan," a reference to an old belief that no black swans exist because none had been sighted, seemed a fitting name for the brand's vision for manufacturing's future, said Kevin Haley, the company's head of innovation. Because so much production moved offshore in pursuit of low-cost labor, especially in the labor-intensive apparel and footwear sector, many believe it will never come back to the United States.
"We chose to look at things a little differently," Haley said. "If you could manufacture a shirt or a pair of running shoes in Baltimore and sell them at a profit in the U.S., then what can't you manufacture in the U.S. and sell in the U.S? We can be a beacon to show the way ... that with the right amount of innovation and technology and know-how — and the will to do it — you can manufacture anything here."
Those ideas formed the basis of Project Glory, an initiative the Baltimore-based athletic apparel brand has explored for several years but only recently began discussing publicly. The long-term goal is for Under Armour products to be made closer to the markets where they're sold, for instance in the U.S. for U.S. consumers, in Brazil for South American buyers, in Europe for European shoppers and in China for the Chinese market.
"We're starting in Baltimore," Haley said. "That's our home."
The initiative comes at a time when manufacturers are re-evaluating how goods are produced, prompted by rising labor and energy costs in China and elsewhere, complications associated with international shipping and the growing availability of technology that reduces labor requirements.
Plank shares ideas for new Under Armour campus
Some apparel companies, in particular, are starting to look at "not mass production, but mass customization," said Jeff Fuchs, executive director of the Maryland World Class Consortia, a nonprofit that helps manufacturers improve productivity.
"Everything we're surrounded with is almost completely mass-produced," Fuchs said. "But modern technology is making it possible to change that and change the economics of production and make it possible to provide customers with uniquely tailored products ... and do that in an efficient way."
Under Armour plans to start developing and perfecting technologies next year to enable a "local for local" model, building on systems it already uses to make its Speedform running shoes in a lingerie factory.
Under Armour planning to make 'local for local,' starting at Port Covington
The work will be done in a design and manufacturing test center called Under Armour Lighthouse that will open sometime next year in a renovated 133,000-square foot former city garage in Port Covington, where the company plans to build a sprawling new waterfront headquarters campus.
Engineers, developers and designers — new and current Under Armour employees and others rotating in from manufacturing partners around the world — will collaborate on the project in the new facility. Their mission will be to develop and find ways to use advanced manufacturing processes to make products on a smaller scale in local markets while improving the products' performance.
Eventually, Haley said, the Port Covington facility will also make shoes and apparel that could be sold across the harbor at the city's Under Armour Brand House and at other U.S. Under Armour stores.
Advanced technologies will "reduce lead times, time in transit," Haley said, "so the consumer gets what they want more quickly, more efficiently, and gets better products."
For products that are designed in the United States but made in China, Vietnam or elsewhere in Asia, shipping times that typically stretch over weeks are sometimes extended further by labor disputes and other issues, said Ravi Srinivasan, an assistant professor of information systems and operations management at Loyola University Maryland's Sellinger School of Business and Management.
"One of the things that happens is now suddenly what was supposed to take two to three weeks may be stuck at a port several more weeks," Srinivasan said. "When you consider companies like Under Armour or Nike, or any fashion industry, the timing is really important. You need to have the right product at the right time available. That's challenging ... specifically industries like fashion and electronics, because of how fast tastes change."
Making goods locally makes companies not only more nimble in supplying inventory and reacting more quickly to changing tastes, but better able to respond market by market and to customize merchandise, he said.
Srinivasan said he would expect Under Armour to continue offshore production for some products, while establishing local production for others.
As of last year, the brand's apparel and footwear were made by 29 primary manufacturers in 14 countries, with 65 percent of products made in China, Jordan, Vietnam and Indonesia.
A shift toward local sourcing and materials in Baltimore can only help the city and its manufacturing base, bringing well-paying jobs with benefits, said Drew Greenblatt, president and owner of Baltimore-based Marlin Steel Wire. The company makes wire baskets for factories in 39 countries, buying steel and other raw materials from American suppliers and making all its products at its Southwest Baltimore plant with the help 30 employees and state-of-the-art robotics.
"A lot of companies are re-evaluating whether it makes sense to put your next factory in Shanghai or to put your factory in America. We're thrilled that Kevin Plank is starting this initiative," Greenblatt said of Under Armour's founder and CEO.
The ripple effect on the local economy from a $3 billion company that's projecting to hit $7.5 billion in sales by 2018 could be enormous, he said.
"When he buys from locals, he helps the local community," Greenblatt said. "If Under Armour is buying from local manufacturers, in all likelihood, the local manufacturers are going to hire locals, and it's really going to help the local community. ... Kevin has such amazing heft, if he points a modest amount of money to the U.S. as opposed to China, Baltimore City will be a huge winner."
Using technology and robotics to improve efficiency represents the future of manufacturing, he said.
"The alternative is extinction," he said. "If you don't invest in technology, employees don't have the best tools. If they don't have the best tools, employees are not competitive. … There's no choice of bringing back the old-style jobs. That's gone. The future is high-quality, highly engineered jobs running fancy robotics and fancy automation. I believe in the American manufacturing renaissance. It's going to happen, and it's happening."
Under Armour already has launched several products made possible by the advanced technologies it envisions using more of in the future, Haley said.
The Speedform running shoe, introduced last year, is not made in the conventional way, with 150 to 200 people touching each shoe as it moves down an assembly line, but instead through a partnership with a lingerie factory that used 3-D molding to create the shoes.
The result is a shoe without seams, designed for comfort and a more precise fit and made with less labor, Haley said.
Transferring that or similar technologies to local markets could allow the company to spend less on shipping and duties and more on materials and production, he said. The company has begun using other manufacturing technologies similar to the one used with Speedform, but won't identify them for competitive reasons, and more are on the way, Haley said.
He expects "local for local" production in the future to involve footwear and other products as well as customization for a specific end-use or individual consumer.
Under Armour Lighthouse is intended to become a permanent advanced manufacturing facility at the company's future 50-acre, waterfront campus in Port Covington.
"Our goal is to not limit this to our facilities or even apparel or footwear, or even our industry," Haley said. "We want to show if we can make something as labor-intensive as a $25 T-shirt or a $100 pair of shoes in Baltimore, you can effectively make anything anywhere. We think we can change the shape of the economy over the longer term."
Best of luck to all shareholders.
The cross breeding makes sense.
Monster silk or Dragon Silk, crossbred with the Vietnam silkworm to create a hybrid silkworm line that will have the strength/toughness characteristics along with the environmental (climate) stability and possibly the disease resistant properties of the commercial Vietnam silkworm. You're utilizing a silkworm that is already adapted to that particular environment.
I'm not sure???
Both Fannie and Freddie are on Finra's Daily list.
Ineligible for Quotation on OTCBB due to quoting inactivity under SEC Rule 15c-211
http://otce.finra.org/DailyList
SEC Rule 15c2-11 governs the submission and publication of quotations by brokers and dealers for certain non-Nasdaq over-the-counter equity securities. Specifically, the rule applies to a broker/dealer's initiation or resumption of quotations for such securities in any interdealer quotation medium, including the NASD's OTC Bulletin Board" and National Quotation Bureau, Inc.'s "Pink Sheets" ("pink sheets"). Pursuant to the rule, brokers and dealers are required to review and maintain specified information about the issuer of the security before publishing a quotation for that security.
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=1675&print=1
Ineligible for Quotation on OTCBB due to quoting inactivity under SEC Rule 15c-211 02/25/2016 05:03:00 FNMA Federal National Mortgage Association Common Stock
http://otce.finra.org/DailyList
I'm thinking this stock is going to be huge!
Here's a Wisconsin DOJ sponsored website. Obviously the prescription painkiller abuse epidemic has no boundaries.
http://doseofrealitywi.gov/
PRESCRIPTION PAINKILLERS. AFTER THE PAIN, THEY’RE JUST KILLERS.
You may be surprised to learn that prescription painkiller abuse is a big problem in the State of Wisconsin. You are not alone. That’s why the Wisconsin Department of Justice, in conjunction with the Wisconsin Department of Health Services and partners across the State, is sharing a DOSE OF REALITY and working to prevent prescription painkiller abuse in Wisconsin. When prescribed and used properly, prescription opioid painkillers can offer relief. However, anyone is at risk of becoming addicted, especially our young people ages 12-25.
Deaths and hospitalizations from overdoses are increasing, and four out of five heroin addicts start by abusing prescription painkillers. In the words of Attorney General Brad Schimel, prescription painkiller abuse is a “public health crisis in Wisconsin.” We all need to work together and do something about it. This DOSE OF REALITY site will help in that effort. Use it to find out how you can do your part in preventing prescription painkiller abuse in Wisconsin.
http://doseofrealitywi.gov/news/
Wisconsin Department of Health Services statistics show drug overdose deaths doubled from 2004 to 2013.
"Prescription painkillers kill more people than heroin and cocaine combined, right here in Wisconsin," says Attorney General Brad Schimel. "Drug overdose is now far outpacing car crashes as a [leading] cause of death."
Trade pact creates dispute system, GMO group
Robert Holly, Midwest Center for Investigative Reporting 6:18 p.m. CST November 24, 2015
If approved, the Trans-Pacific Partnership will create a multinational working group on biotechnology regulation and establish a new system to resolve disputes between governments and foreign corporations.
Both moves would likely benefit agribusiness.
The Trans-Pacific Partnership is a major free trade agreement between the United States and 11 other countries that seek to foster international trade by lowering policy and regulation barriers.
Its 30 chapters touch on everything from market access, rules-of-origin labeling and sanitary measures to investment, financial services and intellectual property. Reached on Oct. 5 in Atlanta, the deal’s full text was released on Nov. 5.
One of the most pressing challenges facing modern agriculture is the patchwork of different GMO rules in different countries, according to industry officials.
“The toughest things that we’re dealing with right now aren’t necessarily associated with tariffs,” said Rodney Weinzierl, executive director of the Illinois Corn Growers Association. “They’re a lot around the technology we use, biotechnology.”
The new deal requires partner nations to make their applications for biotechnology and risk assessments more transparent.
Each member country is also required provide a list of authorized biotechnology products.
As part of the agreement, TPP members are also required to establish a working group for “modern biotechnology” products under the deal’s Committee on Agricultural Trade. The purpose of the working group is to strengthen “information exchange and cooperation on trade-related matters” that include biotechnology products and GMOs.
Devry Boughner Vorwerk, vice president of corporate affairs for the Minnesota-based agribusiness giant Cargill, said Cargill has supported the Trans-Pacific Partnership from its start. Records show that support included her testimony to a U.S. House of Representatives’ subcommittee on trade in December 2011.
“The agriculture biotechnology working group set up in the TPP is meant to continue to address those potential trade barriers that exist for biotech products, which we see as a positive,” Vorwerk said. “The countries can continue to come together over the course of time to discuss best practices.”
The agreement would not force countries to adopt or modify laws, regulations or policies for the control of biotechnology within their borders.
China not yet part of TPP
In 2013, China rejected shipments of U.S. corn that included a genetically engineered trait the country had not yet approved. Industry studies estimated the rejection cost the U.S. corn industry as much as $3 billion.
So far, China is not part of the Trans-Pacific Partnership, but some of its neighbors are.
http://www.desmoinesregister.com/story/money/agriculture/2015/11/24/trade-pact-creates-dispute-system-gmo-group/76339476/
Could you please provide a link? Thanks!
What I'd like to see is confirmation from Timbaland...
Why didn't he post anything on social messaging???
I wonder if Sue Levin is related to the BloombergBusiness photographer Andy Levin? I'm just curious because that article dated 6/03/2015 is one of the first articles listed on Bolt Threads news page. Smells fishy???
http://www.bloomberg.com/news/articles/2015-06-03/a-bay-area-startup-spins-lab-grown-silk
"The company’s aiming at the market for high-performance apparel such as sports shirts and bras and expects to have products by late next year. It hired Sue Levin, the founder and former CEO of athletic wear retailer Lucy Activewear, to lead merchandising and marketing."
Today's Homepage on Bing
http://www.bing.com/
Is that Monster Silk???
http://www.bing.com/search?q=silkworm+Bombyx+mori&form=hpcapt&filters=HpDate%3a%2220141002_0700%22
Go KBLB!
Stephanie Kwolek
and Kevlar®, The Wonder Fiber
Interesting older spider silk article.
http://www.floridanature.org/articles/fiber_engineers.asp
Fiber Engineers, Meet Thy Master
November / December 1996 edition of DuPont Magazine
The orb-weaving spider produces one of the world's toughest fibers.
Using recombinant DNA technology, DuPont scientists have created
spider silk as a model for a new generation of materials.
Imagine a silk-like material so strong it could stop a 747 in flight, and yet also so light and stretchable it could be used to clothe a ballerina.
DuPont scientists have long admired the ability of spiders to create material with characteristics similar to two of DuPont's most famous products--DuPont Kevlar® aramid fiber and DuPont Lycra® brand spandex--with such apparent ease. A research effort led by John O'Brien at the company's renowned Experimental Station just outside Wilmington, Delaware, has been studying the properties of spider silk in an attempt to improve on existing DuPont product, or even discover entirely new materials.
"It is the combination of strength and stretch that makes the energy-to-break of a spider silk so high," O'Brien notes. "We felt that if we could duplicate that combination of great strength and stretch, and do it economically, this could be the beginning of a new materials revolution."
Spider silk is among the toughest materials known, but it is not entirely unique. "It is merely one of the most dramatic examples of a sizable family of biopolymers that can teach us much about how to improve upon man-made products," O'Brien says. "In many cases the biopolymers posses a combination of properties that synthetic materials cannot yet approach."
Terry Fadem, business director of corporate new business development, adds: "At DuPont, our researchers are looking to these natural materials as a framework for the design and synthesis of a new generation of structural materials. Basically, the idea is to copy, to the extent possible, the way that nature manufactures products. It's called biosynthesis."
Fundamental to achieving these new structural materials is the ability to control all aspects of the material architecture, beginning at the molecular level. "Recombinant DNA technology provides a practical route to harnessing the power of the biosynthetic process to control polymer sequence and chain length to a degree that is otherwise impossible," says O'Brien. "A broad range of mechanical properties is accessible by careful selection of the appropriate building blocks, as are more sophisticated properties that are common among proteins."
In the case of spider silk, all the data gathered by O'Brien and his team, including the latest sequence information from university laboratories, have been modeled by computer. Advanced simulation techniques were used to design a molecular model that integrates all the information available to date about the structure of this amazingly strong and elastic fiber. Synthetic genes were designed to encode replicas of the silk proteins. These genes were inserted into yeast and bacteria and the protein replicas were produced. Then the biosilk was dissolved in a solvent and the protein was spun into fibers using spinning techniques similar to those of the spider. "Basically," says Fadem, 'our people figured out what the spider does, how it does it, and then did pretty much the same thing--but in a computer and in test tubes."
Robert Dorsch, director of biotechnology development, notes that although the DuPont researchers used both yeast and bacteria to prepare the material, the result is a protein similar to that produced by the spider. "We break open the bacteria, separate out the globules of protein and use them as the starting material," he says. "But in the yeast process, the gene system can be designed so that the yeast secretes the protein outside the yeast for better access.
"Either way, the bacteria and yeast are producing similar proteins, structurally equivalent to one the spider uses in the drag lines of the web. The spider dissolves the protein into a water-based solution and then spins into a solid fiber in one go."
Dorsch adds: "While we are not as clever as the spider and are not using organisms nearly as sophisticated, we have substituted man-made approaches and dissolved the protein in chemical solvents. The resulting solution is then spun by extruding the material through small holes to form the solid fiber."
Will synthetic spider silk change the world? "Whether it takes off commercially or not is one of the great unknowns," says Fadem. "But the potential is there. We can imagine many possible uses for biosilk--including textile applications as a very obvious example. It is lightweight, tough and elastic, and may also have applications in satellites and aircraft."
"More importantly, the new generation of advanced materials that spider silk research represents has the potential to transform our lives in ways we can scarcely imagine," Fadem adds, noting that it has been over 50 years since the discoveries of DuPont scientist Wallace Carothers and his team gave the world nylon and ushered in the age of polymers.
"Based on the success of our initial demonstrations, we believe that harnessing the power of nature's biosynthesis will play a major role in the new materials revolution," he says.
Joe Miller, DuPont's chief technology officer and senior vice president of research and development, notes that DuPont is pursuing several leads in biotechnology. "We are particularly interested in developing new materials from renewable resources, such as corn and sugar beet, and in processes that reduce humanity's environmental impact," he says. "This research and development work will result in important new products that will help drive the company's and our customers' success far into the future."
What do you see that we cannot? Throughout the history of DuPont, many of the company's most important contributions have come to market only through collaboration with other companies. If the substance of this article leads you to conclude that a partnership opportunity may exist between your organization and DuPont, we invite you to send a FAX on company letterhead with an outline of your idea to 1-302-695-9840. Please limit your proposal to non-proprietary, public domain information only.
Imagine the possibilities??? Just Do It! Monster Silk...
http://news.yahoo.com/blogs/this-could-be-big-abc-news/exclusive-first-look-nike-flyknit-technology-163327427.html
LONG AND STRONG! KBLB...Just Do It!
The Next Big Thing in Biotech: Sangamo
Adam Feuerstein, senior columnist at TheStreet, explains why Sangamo Biosciences will be the stock to watch in the coming week.Sun 09/18/11 10:00 AM EST -- Gregg Greenberg & Adam Feuerstein
http://www.thestreet.com/video/11251256/the-next-big-thing-in-biotech-sangamo.html?cm_ven=RSSFeed&s=1#1166099750001
Coming to a Human Body Near You: Bulletproof Skin Made From Spider Silk and Goat Milk
http://www.takepart.com/news/2011/08/17/coming-to-a-human-body-near-you-bulletproof-skin-made-from-goats-milk
AAA Unveils Mobile EV Charging Trucks
http://autos.yahoo.com/news/range-anxiety-reducer--aaa-unveils-mobile-ev-charging-trucks-.html
In an effort to reduce range anxiety for owners of electric vehicles such as the Nissan Leaf, AAA announced it will offer North America’s first mobile charging roadside-assistance trucks. The announcement was made Monday at the Plug-In 2011 Conference and Exposition.
The roadside-assistance trucks will be equipped with the capability to provide Level 2 and Level 3 charging for auto club members when their EV's batteries become discharged. The trucks will be able to provide 10 to 15 minutes of charge time, which should provide enough juice for the EVs to travel three to 15 miles to a charging station to top off the charge, according to AAA.
“As the electric vehicle market continues to emerge, AAA is ready to help alleviate some range anxiety with the ability to provide a charge to electric vehicles on the roadside that gets drivers back on the go quickly,” said Marshall L. Doney, AAA Automotive vice president.
Initially AAA will offer the mobile electric-vehicle charging trucks in six metropolitan areas across the U.S. Starting this summer AAA will begin testing its pilot program in the Portland and Seattle areas; the San Francisco Bay area; Los Angeles; Knoxville, Tennessee; and the Tampa Bay area of Florida.
According to AAA executive John Nielsen, AAA intends to expand the new service to interested members across the country. The pilot program will be used to research multiple technologies to determine which is best for different environments.
The roadside-assistance truck showcased at the conference uses a removable lithium-ion battery pack from Green Charge Networks, but other AAA vehicles will use generators powered by alternative fuels as well as other power sources.
Unlike mobile charging vehicles recently announced in other countries, AAA says its charging trucks will be similar to its other roadside assistance trucks and be able to provide traditional services including battery testing, jump starts and replacements, tire changes, fuel delivery, and lockout service.
“AAA’s mobile electric vehicle charging is intended to be a service similar to what AAA has provided to motorists with gas-powered vehicles for nearly a century,” Nielsen said. “When your vehicle runs out of fuel — whether it is traditional gasoline or electric fuel — AAA can provide you with a limited amount to help you safely reach a location where you can fill up your tank or your battery.”
It says "We may be involved" It doesn't say "We are involved"
The company is stating that any litigation involving IP infringment could be a concern moving forward.
There's no litigation! Look at the 10Q
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7632023
Part II - Other Information
Item 1. Legal Proceedings
NONE
That's your typical boilerplate paragraph.
I'm sure the company did preliminary patent searches before they ever filed an application for their pending intellectual property.
It just so happens that Michael McAllister has significant experience in IP matters.
Alumifuel's Powerful Management Team
David Cade, President & CEO
•17 years as executive in alternative energy field
•15 years experience as successful CEO, 14 years in public companies
•Brought lithium battery company to commercial production
•Previous management positions with AT&T, Martin Marietta, COMSAT and DoD
John Boyle, CTO
•One of nation’s foremost experts in industrial gas applications, systems design, engineering, safety and innovative technologies/products
•Over 30 years experience in industrial gas industry – 18 years with Air Products in various engineering, and executive capacities
•Natural Gas and Hydrogen industry safety codes based on his analyses & designs
Michael McAllister, EVP
•Law practice focused on high tech commercial transactions worldwide
•Significant experience in IP matters, strategic partnerships, capital raising,technology licensing, and day-to-day business operations
http://www.uspto.gov/faq/patents.jsp
1. What do the terms “patent pending” and “patent applied for” mean?
A. They are used by a manufacturer or seller of an article to inform the public that an application for patent on that article is on file in the United States Patent and Trademark Office. The law imposes a fine on those who use these terms falsely to deceive the public.
Return to FAQs
2. Is there any danger that the USPTO will give others information contained in my application while it is pending?
A. Most patent applications filed on or after November 29, 2000, will be published 18 months after the filing date of the application, or any earlier filing date relied upon under Title 35, United States Code. Otherwise, all patent applications are maintained in the strictest confidence until the patent is issued or the application is published. After the application has been published, however, a member of the public may request a copy of the application file. After the patent is issued, the Office file containing the application and all correspondence leading up to issuance of the patent is made available in the Files Information Unit for inspection by anyone, and copies of these files may be purchased from the Office.
http://www.navysbir.com/n11_2/N112-155.htm
Wonder if Alumifuel Power will be submitting a proposal?
I bought some AFPW shares today.