Strategy in TECH...
After a dramatic double-digit drop in May, June housing starts declined again, with overall starts not only dropping below May’s rate to a nine-month low but also coming in well below the rate in June 2021. Single-family starts in June hit their lowest seasonally adjusted annual rate since July 2020.
This month, the United Nations released its report on the latest global population trends and it delivered quite a few surprises…and even a bit of a shock. The data shows that major population shifts are coming…and coming soon. First, in a bit of a surprise, we learn that by November 15 of this year, the world population will total 8 billion people. The U.N. says that, in the world we hope to build, that population number will represent “8 billion opportunities to lead dignified and fulfilled lives.” But it also represents 8 billion reasons to remember “our shared responsibility to care for our planet.”
And, in a bit of a shock, we learn that by next year, China will be replaced as the most populous nation in the world by India, whose rate of population growth supersedes China’s. Surprised?
The U.S. Bureau of Labor Statistics announced Wednesday that inflation in June came in at a surprising rate of 9.1%, clearly demonstrating that – in contrast to what many economists had hoped – inflation had not yet peaked in May. This news raises the risk of an approaching economic disruption…a recession.
Crestron Electronics, Inc. (Crestron) announced today a firmware update that adds Spotify Connect to its growing selection of streaming music services available through its recently-launched DM NAX 8-Zone Network Streaming Amplifier. With Spotify Connect in the DM NAX’s firmware, users get “an elevated music experience” the company says, with control available directly through the Spotify music service or via any Crestron interface.
The latest data on home affordability from the National Realtors Association, tracked in its Housing Affordability Index, shows that housing is at its least affordable level in 22 years. And that’s not just for first-time buyers, but for home upgraders as well. Not only that, but new economic data suggests that this declining housing affordability will remain an issue for some time yet to come.
VOXX International Corp. announced its fiscal 2023, first-quarter results late Monday, reporting that it saw sales declines, deepening operating losses, and a swing to a net loss in the quarter. Shares in VOXX declined 9.44% in value in trading Monday – and after-hours trading in the early evening pointed to another nearly 3% decline in shares. By comparison, the S & P 500 saw overall shares decline 1.15% on Monday.
Snap One, the entity originally founded as SnapAV, and a company whose motto is “Founded by integrators for integrators,” recently demonstrated how they strive to be a better partner by providing their dealers with some really solid and helpful advice. One of their appreciative dealers forwarded me an email he had received from the company containing useful information on how to protect his business from fraud.
Major American and Asian chip makers warned this week that they may scale back their planned investments in building U.S. semiconductor production if Congress doesn’t finally move forward and pass the CHIPS Act. The CHIPS Act is legislation the administration seeks to build up a more robust U.S.-based semiconductor supply chain.
In a world where many brands are building “planned obsolescence” into their products such that after some period of time customers are forced to buy new versions of their products to replace the old, Bryston takes the opposite approach. Instead of forcing you into NEW models, the company wants to help keep past purchasers of Bryston gear in wedded bliss with their OLD “vintage” gear via a new Back to the Future product restoration service.
A broad group of global manufacturers in diverse markets from Ford to Samsung have seen their inventory levels swell as consumer demand weakens in the wake of surging inflation and destabilizing economic conditions, according to a new analysis by the Nikkei. According to their research, global manufacturing inventories have swelled to $1.8 trillion, a record total that is the highest measured manufacturing inventory level in the last ten years.
