Delivery Technology Solutions, Inc. (DTSL.PK)
Universal Delivery Solutions Inc., a Division of DTSL, the leader in delivery management technology, has announced an executed National Vendor Agreement with Doctor’s Associates, Inc. (DAI) the franchisor of SUBWAY Restaurants. The agreement authorizes the introduction of 888-SUB-TO-GO Catering & Delivery services as an optional program for the company. It also allows UDS to explore national catering opportunities amongst large corporations and organizations for consideration by DAI.
The National Vendor Agreement calls for UDS to provide three levels of 888-SUB-TO-GO Program participation to accommodate the different needs of individual markets and restaurants. Service levels are determined by minimum order sizes, hours of catering/delivery operations and marketing support. UDS is obligated to provide a dedicated Call Center and Website Ordering (www.888subtogo.com) to serve participating restaurants nationwide, and customer service and technical support.
Additionally, as previously announced, the National Catering & Event Management services agreement between UDS and Doctor’s Associates, Inc. enables UDS to offer its corporate catering technology on a private brand basis to all corporate clients, including large organizations and institutions. This technology platform allows clients to easily order and manage catering events at multiple venues serving thousands of meals, and prepare reports detailing every event, from their desktop or laptop.
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Wells Fargo & Company (NYSE:WFC)
WFC announced today that Tim Sloan has been named the company’s chief administrative officer, a new position that reports directly to Chairman, President and Chief Executive Officer John G. Stumpf. Effective immediately, the functions of Corporate Communications, Corporate Social Responsibility, Enterprise Marketing, Government Relations and Human Resources will report to Sloan as he assumes leadership of the company’s brand, reputation management, stakeholder engagement and people development efforts.
An executive vice president of the company, Sloan has served most recently as Wells Fargo’s head of Commercial Banking, Real Estate and Specialized Financial Services. In that role, Sloan oversaw operations within the Wholesale Banking group that provided credit and non-credit products and services to more than 40,000 customers worldwide. His groups included more than 25 distinct businesses with more than $200 billion in assets, operating out of more than 440 offices in 40 states and in Asia, Canada and London. Those business lines will remain in Wholesale Banking.
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SINA Corporation (Nasdaq:SINA)
SINA, a leading online media company and mobile value-added service (”MVAS”) provider for China and for the global Chinese communities, recently announced its unaudited financial results for the quarter ended June 30, 2010.
Financial Results
For the second quarter of 2010, SINA reported net revenues of $99.4 million, compared to $90.3 million for the same period last year. Non-GAAP net revenues for the second quarter of 2010 totaled $94.7 million, compared to $80.6 million for the same period last year. Advertising revenues for the second quarter of 2010 were $73.1 million, compared to $57.8 million for the same period last year. Non-GAAP advertising revenues for the second quarter of 2010 were $73.1 million, compared to $48.1 million for the same period last year. The year over year advertising revenue growth was partially boosted by a successful coverage of the 2010 World Cup.
Non-advertising revenues for the second quarter of 2010 totaled $26.3 million, compared to $32.5 million for the same period last year. MVAS revenues for the second quarter of 2010 amounted to $20.0 million, compared to $30.9 million for the same period last year. The year over year decline in MVAS revenues was primarily due to China Mobile implementing series of measures in late November 2009 and January 2010, including the suspension of billing of wireless application protocol (”WAP”), limiting service offerings and partnerships allowed for each short messaging service (”SMS”) code, preventing television and radio promotion of certain interactive voice response system (”IVR”) products and requiring additional notices and customer confirmations in the MVAS ordering process. Other non-advertising revenues for the second quarter of 2010 included amortized deferred revenue of $4.7 million relating to the license agreements resulting from the Transaction.
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