McPete Sez Newsletter

                                







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In This
Issue

Intimate Payments

NandoVision

Risque Wigs

Gozooko

Studio Time

Tia Lyn 
Lingerie


International Lingerie Shows

McPete Sales

The Underfashion Club


Styles Fashion

Articles Of Interest

New IRS Reporting
Requirements
Page 1

Ellie Shoes Donates 1000 Shoes to Soles4Souls
Page 1

Cotton Stockpiles Expected
to Grow
Page 1

Eldorado Takes a Bite 
Out of Holiday Hunger
Page 1

David Beckham Underwear
Range
Page 1

The International Lingerie
Show Videos - Xotic Eyes, Dynashape Intima, Shibue Couture, Honey B
Page 2

The International Lingerie Fashion Show
Page 2

Sexcies Intimacy Shapewear
Page 2

Business and Technology:Win Internet Traffic and Sales with a Social 
Media Trifecta 
Page 2

Intimate Graphics: SEVEN TIL MIDNIGHT 2012 VIDEO
Page 2

McPete Sez
Mailbag
Page 2

Fab Foundations:
Fully Supportive Swimwear – The New Elomi Swim 
Collection 
Page 3

Three Simple Things You 
Can Add To Your Lingerie Website to Increase
Your Sales 
Page 3

The International Lingerie Fashion Show Continued
Page 3

Ask the Gozooko Guys
Page 3

Ask Andy
Page 3

The International 
Lingerie Fashion Show Continued
Page 4

Lipgloss & Lace
Page 4

The Addict Expose -
Lace Dreams & Crystal Fantasies:I.D. Sarrieri F/W 
2011
Page 4

Sportsheets Takes Home
 XBIZ Awards
Page 4

The International Lingerie
Fashion Show Continued
Page 5

Fleshlight Releases Flight
 Page 5

MCPETE SEZ CLASSIFIEDS
Page 5

The Buzz
Page 5

Reps Corner
Page 5

Shows & Events
Page 5

McPete Sez Print Page





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   The American Red Cross


January 15, 2012         
                    Issue #305

    Th 
     

10/24
                   
                              Intimate Apparel

Sleepwear-Daywear-Foundations-Loungewear-Hosiery-
           Lingerie-Swimwear-Dancewear-Clubwear 
                              Ready-to-Wear
 
                            
   
     
Cotton Stockpiles Expected
            to Grow
The US Department of Agriculture raised its estimates for world cotton stocks at the end of the 2011/12 season, due to lower production and exports and purchases by the Chinese government.
The forecast echoes figures from the inter-governmental group the International Cotton Advisory Committee, which earlier this month also said efforts to rebuild the Chinese national reserve are likely to lead to a recovery in world cotton stocks.
The USDA believes the 2011/12 season, which began on August 1, is likely to end with world cotton stocks of 58.4m bales, up from earlier estimates of 57.67m.
In the US, the largest cotton exporter, "production is lowered 153,000 bales, as a reduction for upland cotton in Texas is partially offset by higher estimated extra long staple (ELS) cotton production," its monthly supply/demand report said.
"Domestic mill use is unchanged. Exports are reduced 300,000 bales to 11.0m due to lower US supplies and strong competition from foreign exports."
Globally, it sees production reduced mainly in India and the US. 
Consumption is estimated 1.0m bales lower for China, as the substantial accumulation of cotton in the national reserve is expected to support prices and constrain mill use. Consumption also is reduced for Thailand.

Tia Lyn Lingerie 8/24 Watch Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
  
       New IRS Reporting
       Requirements
   by Steve Kimberling of Intimate Payments
A new Federal Regulations requiring credit card processors and acquirers to report merchant electronic payments transactions to the IRS could have major implications for retailers. The requirements originated when Congress passed the Housing and Economic Recovery Act of 2008 and was intended to help the IRS identify under-reported sales. This is an unfortunate and additional piece of legislation imposed by the Federal Government to capture income which may not be correctly reported. The US Treasury believes they can collect an additional $10 Billion over 10 years.
These new requirements will apply to transactions beginning in January 2011. 
All merchant acquiring entities must collect and verify the Tax ID number of each merchant by performing a Tax Identification Number (TIN) match with the associated legal business name for each merchant on file. This can be difficult because differences in spelling or punctuation could cause a mismatch. 
The word “AND” for example may be displayed as ‘and’ or with a character such as + or &. Despite these challenges, in January 2012, the merchant bank must file a Form 1099-K with the IRS and provide a copy to each merchant for which it filed. Included transactions are credit, debit and gift card. American Express will file a separate Form 1099-K. 
If a merchant only receives information from their processor electronically, then they may also receive their Form 1099-K electronically.
Merchant banks can be fined $250 for each error so they will take pains to ensure their information is accurate. Should a merchant’s TIN not match the IRS records, the Treasury advises the merchant bank they may be responsible for withholding merchant funds and allows the payment processor 30 days total to correct the deficiency.
If a merchant has two processors during a given year because they closed one relationship and opened a new one during the year, they will have two separate filings and reporting. Even more problematic, beginning in 2013, if the TIN or legal business name combination that was provided to the merchant processor does not match the information the IRS has on file then the merchant processor must withhold a portion of the merchant’s processing if they are not able to reconcile the mismatch. The merchant processor must withhold 28% for the IRS plus the states’ applicable withholding requirements. Worse, after the mismatch is identified and corrected 
any withholding paid to the IRS or state must be recovered through the merchant’s tax filing at the time they file their taxes which could severely harm a merchant’s planned cash flow. Imagine if your cash flow is interrupted at the beginning of the year, for example and your first two month’s card payments are withheld at the 28% rate! This could be devastating for any business, let alone a florist that relies on heavy spending around Valentine Day. Those withholdings may not be reconciled with the merchant until they file their taxes after the end of the year.
The new reporting law was opposed by businesses, banks and payment professionals before it was signed into law, yet the industry must respect and adhere to it. The amount reported is gross sales which includes sales that are returned or charged back and is before any fees are deducted. Merchant’s should pay attention to requests from merchant processors to reconcile their TIN and legal business name and work with them immediately if there is a mismatch. The reconciliation is easy but must be done promptly to avoid withholdings and any fee for such withholding.

**Steve Kimberling is Executive Vice President of Intimate Payments / Eureka Payments, a California based payment processing ISO. Kimberling is an expert in the payments industry and frequent contributor to several industry publications.
For more information on Intimate Payments, please call 877-476-0570, email steve@intimatepayments.com or visit www.intimatepayments.com 

  Fashion Photo
        
Kimama models J. Valentine
photo by Stephen Cupp of Studio Time Photography
If you would like more information about Fashion Photo 
or would like to be included in the McPete Sez Fashion 
        Photo contact Jerome Hamilton at 
Studio Time Photography jerome@studiotime.us  

    Van de Velde Reports 
    2011 Sales Growth
Belgian lingerie group Van de Velde saw 2011 turnover rise by 8.2% to EUR197.9m (US$254.1m).
The company, which acquired Rigby & Peller last year, said that organic turnover growth was 2.2%. US lingerie chain Intimacy recorded 8.1% growth for the year to reach US$38.4m.
The company added that it expects that turnover for the first half of 2012, excluding retail turnover for Intimacy and Rigby & Peller will show a "very slight growth" against the same period of the previous year.


5/24    CLICK HERE to watch Risque's Video on YouTube

Lejaby's Fate Awaits Court
               Hearing
The fate of insolvent French lingerie maker Lejaby is set to be decided at a court hearing on January 17.
Just before Christmas, the commercial court in Lyon ordered the liquidation of Lejaby but allowed the company to continue trading until January 20. Candidates for the takeover of Lejaby had until yesterday to improve their offers.
According to sources close to the negotiations, only two of the bids submitted are considered to be viable.
One is from a consortium made up of Lejaby's Tunisian sub-contractor Isalys, Christian Bugnon (the son of Lejaby's former owner), Alain Prost, the ex-CEO of Italy's La Perla and previously MD of French lingerie brand Chantelle, and Italian investment fund Fiduciaria San Babila. It makes provision to retain 194 of the company's 450 staff in France.
The other bid is from French nightwear specialist Canat, which plans to keep 160 workers.

              
       A model wearing Bristols 6 at The 
  International Lingerie
Fashion Show, 
       The Rio Hotel, September 2011
                    Photo by Jerome Hamilton


Intimate Payments
David Beckham Underwear
                 Range
H&M has announced that a range of men's underwear designed by footballer David Beckham will go on sale on 2 February.
The company said that the range will comprise nine underwear styles for men, which will form the basis of the "long term unique partnership between David Beckham and H&M". H&M said the the range's focus is on fit, function, comfort and design, avoiding overt branding to present a range of new classics, comprising of briefs, boxers, vests, T-shirts, pajamas and long johns. 
"The David Beckham Bodywear collection for H&M is full of pieces that men will love. It's an amazing debut collection, with so much attention paid to the function and quality of the garments. David Beckham is one of the most respected men in the world today, and I can't wait to see how the range will grow and evolve in the seasons ahead." said H&M head of design Ann-Sofie Johansson.


 
Ellie Shoes Donates 1000 Shoes to Soles4Souls
Soles4Souls is delighted to announce that Ellie Shoes, Inc. donated more than 1000 pairs of shoes for their international relief efforts. The Ellie Shoes, Inc. donation will be sent to the more than 1.5 billion individuals around the globe who do not own shoes.
"It warms our hearts to be able to contribute to this amazing charity. We take a lot of pride in creating fun and outgoing shoes for our customers. It is exciting to be able to share these shoes beyond the retail level and make a difference!" said Ellen Renger owner of Ellie Shoes, Inc.
Soles4Souls has distributed more than 16 million pairs of shoes around the world with the help of partners like Ellie Shoes. Most recently, they have distributed thousands of shoes to the victims of the devastating tornadoes in the Southeast, as well as millions of shoes to the residents of Haiti.
"We are thankful to our friends at Ellie Shoes for recognizing the global need for footwear," said Wayne Elsey, Founder and CEO of Soles4Souls. "Their donations will be used to bring hope to people around the world who can now look forward to a brighter day."

Carbon Footprint Labeling
            Scheme
SGS Consumer Testing Services has launched its first Product Carbon Footprint program, which offers marks that can be applied to products manufactured and sold on international markets to validate environmental claims.
The initiative is also said to be the first to offer a progressive three-label scheme demonstrating continuous improvement in reducing and offsetting a product's environmental impact.
Unlike carbon footprint mark schemes that are limited to a state, a country or a single phase in a product's carbon journey, SGS' program offers a global approach that covers all geographies with a single label, as well as recognizing multiple levels of environmental achievement.
The three different marks are SGS Carbon Footprint, SGS Carbon Reduction, and SGS Carbon Neutral.
The Carbon Footprint level conveys a brand's environmental commitment by attesting that SGS has calculated the total greenhouse gas emissions over the product's lifecycle, using internationally accepted standards and listing the results on the label.
Carbon Reduction signifies that the product's carbon footprint has been reduced in a 12-month continuous improvement scheme established after the initial carbon footprint calculation.
And the Carbon Neutral grade indicates a significant reduction has been achieved and that remaining emissions have been offset through programs such as renewable energy credit purchase systems run by certified third-party organizations.
A carbon reduction strategy based on a product lifecycle analysis can include steps such as raw material reductions, energy management, implementation of best available technologies and supply chain optimization. These techniques can also help drive savings in production costs.

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