Near-field communication (NFC) is on the leading edge of wireless technology, allowing consumers to assimilate and apply their loyalty programs, credit cards, gifts cards and coupons all on one mobile device. Because of the recent advance in online banking, shopping, and other activities, we have become largely dependent on our mobiles. It is not a surprise that the idea of providing a convenient and simple all-in-one wallet, keys, and phone would become an appealing concept. However, this might seem like a big jump for many older generations, as the fear and skepticism of credit cards and online banking when they were first introduced don’t seem too far off. There are many consumers concerned with security regarding stolen phones, as well as privacy issues. Consumers are expecting stringent security technology and policies on bank transactions. The fact that buyers are not the only ones who must use this new technology presents another obstacle to face. All businesses must also eventually offer NFC usage, which can be difficult to implement in a short period of time. Although the concept is very attractive, it appears that the implementation and fortifying of near-field communication will take a considerable period of time.

Here is an example of NFC in use for various parking usages:

Sources: http://www.theglobeandmail.com/report-on-business/small-business/grow/mark-healy/nfcs-far-reaching-effects/article2137734/
http://www.theglobeandmail.com/report-on-business/small-business/sb-marketing/sales/what-nfc-means-to-consumers-and-marketers/article2123008/

Amidst the currently deteriorating economy, a movement called Occupy Wall Street, a rise against the political system that is said to “favour corporations and the super-rich,” has been garnering attention lately in the global community. (The Globe and Mail) Since the first protest in Manhattan less than three weeks ago, several other demonstrations in cities such as Los Angeles, Boston, and even Vancouver, have joined in to fight for the cause. The protests’ focus was, in the beginning, on Wall Street practices and financial inequality, but there has been incoherence within the group because of dissimilar demands, ranging from “raising taxes on corporations [to] offering free college education.” A demonstration that had originally began as an uprising against the financial institutions’ longstanding monetary stronghold over the disadvantaged working class, has now turned into a chaotic amalgamation of all the various social and cultural groups’ problems against the administration. This complete inconsistency exhibits the difficulty of functioning effectively in groups, especially when they must exemplify only a single idea. Many of these protestors are demanding impossible actions from the government, such as fully subsidized undergraduate tuition without raising taxes. Although the hardships and concerns of these individuals are understandable, this protest is unfortunately extremely unorganized and completely ineffective.

Take a look at this short CBC news report on Occupy Vancouver:

Photo credits to www.alltopstartups.com

When the world heard that co-founder and CEO of Apple had passed away on Wednesday, people everywhere mourned the loss of one of the greatest innovators in history. However, The Voice of America reports that many analysts worry that without the creative marketing genius of Steve Jobs, the company will degenerate in the long term. In the mobile electronic market, there are many advancing companies, such as Samsung and Nokia, who are eager to defeat the iPhone and have been closely competing at the both the high and low ends. As well, PC has always had dominant popularity compared to Macintosh in the computer market; however, until competitors such as Sony and Acer develop more physically appealing models and sell at cheaper prices, Macintosh sales should remain steady in the short-term, as many of their high-end consumers are enticed by its superior appearance. This is supported by the fact that market shares have remained relatively stable, showing investor confidence in the company’s future. While Jobs had brought Apple out of near bankruptcy in the early 90’s, we must wonder whether that the corporation can now survive without the man who embodied its revolutionary products.

Picture credits to SodaHead.com

The world is teetering on the brink of another financial crisis with Greece being the first to pull its weight. Today, NEWS.com.au reported that Greece could potentially become bankrupt within the next few weeks. Because of the nation’s long history of financial fraud; accompanied by excessive government and social spending policies, Greece could find no way of covering up its now $367 billion debt amongst the struggling global economy. Soon after the government revealed its new budget cuts, the European stock values instantly plunged overnight, pulling the Euro and global markets down with it. Now, one would expect most educated people to buckle down, strap in and work hard to dig themselves out of such a financial hole. Unfortunately, the citizens of Greece have decided to strike in the face of their government “tightening” the social belt. With over 50% of Greece’s working population being government workers and 80% employed in the services sector, a strike of any kind would put Greece under tremendous social and economic pressure; not to mention a two sector strike currently being held by government workers during a nationwide fiscal crisis.

Founded in Vancouver, BC, Lululemon Athletica is a locally popular store that specializes in yoga clothing. Until very recently, the company did not have much competition in the market, but according to The Globe and Mail, retailers such as Nike Inc., Gap Inc., and Joe Fresh Style have commenced their own yoga lines, selling their products at considerably lower prices. In order to combat the opposition, Lululemon has started to pay its employees more, in hopes that they will not leave for the other companies; however, as the economy slips further into recession, consumers will find it harder to afford the products’ high prices. It is now estimated that “the third quarter profit-per-share outlook is between 22 and 24 cents, while analysts had [originally] expected 24 cents.” On the other hand, Lululemon’s financial officer reports that he sees no significant impact by the latest addition of competition. If the company were to maintain their current target of the higher end consumer market, it must realize that this could potentially result in slower growth. It is difficult to determine at this point whether Lululemon’s predominant dependence on its yoga clothing’s high quality and performance level can survive today’s economy.