Ares Owner Dany Bahar Creates Custom Cars for the Ultra-Rich

Dany Bahar, owner of Ares, has taken the concept of customizable to a whole new level. Until Bahar came along, wealthy people wishing to express their uniqueness through their possessions had to be satisfied with bespoke suits, handmade shoes, made-to-order watches, or custom-made shirts. To the joy of his clients, Dany Bahar allows them to build custom-made cars made to their unique, individualized specifications.

Bahar, born in Turkey and raised in Switzerland, and former head of Lotus, has discovered a market for made-to-order cars which plays on the growing cultural desire for people to express their individuality. As this desire grows in the general population, the world’s wealthiest people can afford to take it to ever greater heights.

Ares takes high-end luxury cars, such as Bugatti, and gives them a “real makeover,” but only on the outside, as Bahar explains:

“We don’t touch what Bugatti is famous for: the engine, gearbox, fantastic aerodynamics. We give it a new look that is whatever the client wants so it’s a Bugatti but covered with a different skin.”

Lest you think it’s “the same wine in a new bottle,” Dany Bahar says that is not the whole story, either.

“The client is fully involved and that is something really exciting,” says Bahar. “These clients are wealthy people, important people but you touch them on an emotional level, where they become like children. They say, ‘I want the rear lamp, like this, not like this’.

“Even if a client is buying a £2 million car they are really not that interested in how it works… as long as it’s fun to drive and it works. His concern is sitting in the car and enjoying the environment he has created on his own. To sit in these four small walls and to enjoy it and call it his own, designed by himself.”

Bahar likes to use sports cars as examples to explain the work he does, but in truth it is SUVs like Mercedes’ G-Wagon, Rolls-Royces and Bentleys that he sees as his major market, and not traditional two-seater racers.

As long as the market for custom-made products continues to dominate, and there are people with money ready to spend it to have what is essentially a “handmade car,” Ares and Dany Bahar have found a fascinatingly unique niche.

Tesla Motors & Their New Move

In a brilliant move, Tesla Motors Inc. has unveiled Tesla energy to expand its business beyond electric vehicles and to tap into the energy industry. As Chief Executive Elon Musk explained, their goal is to “fundamentally change the way the world uses energy on an extreme scale.”

Their vision would include a world where people have solar panels on their roofs for electricity to power their homes and recharge their car batteries. The smallest of the products they unveiled was a $3500 10kWh model that can be used for backup power or to store solar energy.

As Karl Brauer, a senior analyst with auto industry research firm Kelley Blue Book, said “A cost effective home energy storage system it could prove far more valuable, and profitable, than anything the company is doing with automobiles.”

They plan to manufacture the batteries at their automobile factory in California but will then move production to the planned “gigafactory” in Nevada next year.

Though only valued at $200 million in 2012, the energy storage industry is expected to grow to as much as $19 billion by 2017.

Walgreens Closing 200 Stores

The nation’s largest drugstore chain, Walgreens, plans to shut down about 200 US stores as part of their cost reduction effort. They are combining with Alliance Boots in a $16 billion deal.

This store closing amounts to approximately 2% of the 8232 drugstores the company has in the US, Puerto Rico and the US Virgin Islands. A decade ago, Walgreens was opening almost 500 stores a year. Now, they are obviously making a strategy shift.  Rather than opening more stores these days, they are trying to get as much revenue out of each store as possible.

While they haven’t yet finalized which stores they will be closing, Walgreen Co. President Alex Gourlay has told analysts that he’s looking at locations where the population is shifting and moving away. Executive Vice Chairman and Acting CEO Stefano Pessina has been quick to point out that Walgreens is “as optimistic as ever” about the company and its future.

 

 

 

 

BlackBerry Launching New Tablet

If you’re a BlackBerry Ltd fan, you’ll be happy to hear that they have launched their high-security tablet, developed with International Business Machines Corp and Samsung Electronics Co Ltd.

Called the SecuTABLET, the tablet will be presented by BlackBerry at the tech fair CeBIT 2015 in Germany. It reflects the company’s emphasis on secure connections for the government and for businesses that want to preserve a niche market.

As Dr. Hans-Christoph Quelle, chief executive officer of Secusmart GmbH, said “Security is ingrained in every part of BlackBerry’s portfolio, which includes voice and data encryption solutions. Working alongside IBM and Samsung, we have added the last link in the chain of the Federal Security Network. Subject to certification of the SecuTABLET, German government agencies will have a new way to access BlackBerry’s most secure and complete communications network in the world.”

 

Mondelez International Gets New Executive VP & President of North America

The Illinois-based snack maker Mondelez International has recently announced that Roberto Marques will join the company as their executive vice president and president of North America. He will be based in East Hanover and will report to Chairman and CEO Irene Rosenfeld. He is succeeding Mark Clouse.

Starting in mid-March, he will lead the company’s $7 billion business in the US and Canada. The business include large name brands such as Oreo, belVita, Wheat Thins and Trident gum.

As Rosenfeld said, “I’m delighted to welcome Roberto to the Mondelez International family. His knowledge of consumer brands, strong leadership capabilities and extensive global experience make him a terrific addition to our North America region and my leadership team. He will play a critical role in driving our growth and margin-expansion agendas.”

 

Weatherford International PIc Plans Job Cuts

Weatherford International PIc is planning to cut 5000 jobs, which is equivalent to 9% of its workforce. They plan to do so by the end of the first quarter to save costs amid sinking oil prices and budget cuts.

These job cuts will include operating and support positions and most of the job reductions will be in the Western Hemisphere. They believe that these cuts will create an annual savings of over $350 million. As the company said, “Due to the quickly changing market conditions, we are aligning and reducing our cost as well as organizational structures to match the new environment.”

Last month they already announced that they would eliminate the position of COO.

Other oil companies are acting in a similar way. Schlumberger NV (SLB.N) is letting 9,000 employees go, while Baker Hughes Inc (BHI.N) is letting 7,000 go.

 

 

Finding the Right Place to Retire

As you reach retirement age, it’s not always easy to know where to retire. Now, designed by the real estate information company Zillow.com for Reuters, there is a map that helps people to answer the retirement question. It includes over 15,000 locations across the US.

You get to make decisions along the way about the weather, healthcare access, the percentage of the population over 65, entertainment, crime rate, population density and median home values. You can also look within a specific state or within a group of states.

The program can certainly help retirees to figure out what’s best for them as they move into their Golden years.

Go to the map to get started and to find your retirement dream today.

 

Wage Hikes Impacting Wal-Mart Stores Inc.

Certainly, workers who are paid minimum wage will appreciate the wage increase that is taking place across the United States. Their employers, however, are feeling the impact of these changes. Wal-Mart Stores Inc., the biggest private employer in the US with 1.3 million workers, is adjusting its salary base at the 1434 stores.

An internal memo reviewed by Reuters explains to store managers how the hike will impact upon the 21 states that are due to follow through with the changes around January 1, 2015.

Wal-Mart, which prides itself on keeping costs down and has been struggling to grow sales, will be changing its pay structure. They will narrow the gap in the minimum premium paid to people in the higher skilled positions. Wal-Mart will also combine its lowest three pay grades. This includes cashiers, cart pushers and maintenance workers.

The state minimum wage changes range a great deal based on state. There will be a 17% increase in South Dakota, for instance, to $8.50. While in Arizona, there will be only a 2% change which will raise salaries to $8.05.

These changes will also impact other big retailers like Target Corp. and McDonald’s.

Consumer Spending Down Over Thanksgiving

Shop Till You Drop by  Matthias Ripp Creative Commons Attribution 2.0
Shop Til You Drop by Matthias Ripp
Creative Commons Attribution 2.0

Retailers certainly always hope that the Thanksgiving weekend will bring massive sales. This year, however, it was difficult for them to compete with online shopping and early holiday promotions. Shoppers, on average, were found to spend 6.4% less than they did last year at this time, according to data released by the National Retail Federation.

The NRF estimates that shoppers spend $380.95 at stores over the holiday weekend, compared with $407.02 last year. This was a total spending fall of about 11% over the weekend.

NRF President and Chief Executive Matthew Shay explained that there has been a “revolutionary change” in holiday shopping and that it’s likely to continue. With the growing ease and importance of online sales and the lessening excitement over Black Friday, retailers aren’t getting out to the stores over the holiday weekend as they used to.

The Thanksgiving weekend is also an early gauge of consumer mood and spending for the entire season. This weekend accounts for about 30% of the sales and almost 40$ of the profits for retailers during the holiday season.

BlackBerry Attempts Come Back

BlackBerry is attempting an earnest comeback, according to chief executive John Chen. Chen moved into the executive role in November of 2013 and he is trying to get the company on track. They have raised cash through their sale of real estate holdings in Waterloo, Ontario.

As Chen said while speaking to Reuters, “Once we turn this company to profitability again, I will do everything I can to never lose money ever again. That is definitely something I am very focused on doing.”

Having made his name at Sybase, Chen said, “If you look at my track record at Sybase, I think we made money for some 60 quarters in a row, even when the dotcom bubble blew up we were profitable. I like that philosophy,” said Chen, who added he believes the worst is now behind BlackBerry. We will survive as a company and now I am rather confident. We’re managing the supply chain, we are managing inventories, we are managing cash, and we have expenses now at a number that is very manageable. BlackBerry has survived; now we have to start looking at growth.”

BlackBerry is hiring again although it has not yet turned steady profits.Time will tell if they get back on their feet.