Monday, June 11, 2012

Facing Sluggish Sale, Sino Clean Energy Inc. Halted by NASDAQ

By Pucong Han (People’s Daily Online USA)

Sino Clean Energy, Inc. (NYSE: SCEI), a China-based commercial producer and distributor of coal-water slurry fuel, launched NASDAQ in early June 2010.

On May 21, 2012, trading in Sino Clean Energy on the NASDAQ Capital Market was halted and had not resumed. According to NASDAQ, trading will remain halted until Sino Clean Energy, Inc. has fully satisfied NASDAQ’s request for additional information. The last price of Sino Clean Energy in the market was $1.02.

According to the First Quarter of 2012 Financial Results, revenues of Sino Clean Energy decreased 17.6% from $33.8 million in 2011 to $27.8 million in 2012. Net income of Sino Clean Energy in the first quarter of 2012 was $2.8 million, a decrease of 77.0% from $12.1 million in the same quarter of 2011.

Disclosed by the newsroom of Sino Clean Energy, the negative result in the first quarter of 2012 was primarily due to a year-on-year decrease in sales to the Company’s major customer, Haizhong Heating, in Shenyang. Sales to Haizhong Heating decreased by $4.4 million. In addition, the Company’s subsidiary Shaanxi Suo’ang New Energy lost nine customers in 2011. According to the newsroom, the reduction in sales due to this loss of customers was approximately $5.0 million.

“The past quarter was a challenging period for Sino Clean Energy,” said Baowen Ren, chairman and chief executive officer of Sino Clean Energy. “Although we had expected a slowdown in order volume from our largest customer, which is based in Shenyang, our Shenyang facility sales were more sluggish than anticipated.”

“We are encouraged, however, that order volume at Dongguan continued to expand and partly offset the revenue reductions from our other two facilities,” said Ren. As disclosed in the 8-K filing with the SEC on May 18, its Dongguan facility was forced to suspend operations pending the outcome of a lawsuit filed against Yongchang Paper Industry Co Ltd.

Sino Clean Energy is in the process of appealing the court order and intends to defend its contractual rights. In the meantime, Sino Clean Energy is actively seeking alternative production options and may lease additional facilities to serve its customers in the region.

The management team of Sino Clean Energy is actively looking for solutions to stop the sluggish sales. “Our management team and I are carefully reviewing both the successes and shortcomings of the year’s first quarter to find ways to recapture the growth that our experience has shown this company is fully capable of achieving,” said Ren.

(Pucong Han is an intern reporter at People’s Daily Online. He is from Columbia Journalism School. Pucong can be reached at: puconghan@gmail.com)

Social Networks Shares Fall After the Heavy Volume of Facebook IPO

By Pucong Han (People’s Daily Online)

The world’s largest social network site Facebook (NYSE: FB) went public on May 18, 2012. The share price opened above $42 per share, 10% higher than its IPO price of $38 per share. Although the performance of Facebook on Friday was below investors’ expectations, it became one of the most heavily traded U.S. IPOs in history. However, the heavy volume of trading on Friday did not prevent the fall of its share price. Facebook closed at $38.23 per share, only 0.6% higher than its IPO price.

On the second day of trading, the share price of Facebook opened below its IPO price and closed at $34.03 per share, 10.44% lower than its IPO price.

Compared with other publicly traded social network sites, Facebook’s was not a unique occurrence on Nasdaq. Renren (NYSE: RENN), the dominant social network site in China, lost 7% on Friday. It began the day trading at $6.31 per share and moved between $5.61 and $6.38. Renren closed at $4.74 per share on Monday, 24.88% lower than its Friday’s opening price.

Both Renren and Facebook have moved beyond the traditional Internet business model of only displaying ads.

Facebook generates revenues from online ad sales, third-party partnerships, data sharing / analytics, daily deal & coupon E-commerce and virtual currency (Facebook credits). The total revenue of Facebook has increased from $770 million in 2009 to $3.285 billion in 2011.

According to the private company financial report of Facebook published on July 20, 2011, Facebook considered the possibility of loss of investor confidence due to its partnership with Zynga. Since the health of Zynga’s business is so strongly related to that of Facebook, investors may view Zynga’s performance as an indicator of how well Facebook is performing.

The report also discloses that Facebook has expanded its ad space to include three advertisement slots per page, up from two, a move that PrivCo predicts will counteract the trending increase in price per advertisement on Facebook.com.

According to the report, Facebook plans to re-enter China after its ban in 2009. In order to properly comply with Chinese law, Facebook plans to partner with a Chinese search engine, most likely Baidu (NYSE: BIDU), which will enforce proper censorship and compliance with Chinese laws.

This plan might shrink the market share of Renren, but it will not easily challenge the role of Renren as the leading social network site in China. The consequence of this plan is creating opportunities for search engine companies like Baidu to play a role in social networks.

Renren generates revenues from both online advertising and Internet value-added services (IVAS). The IVAS provides creative online environments for users to have fun, to communicate and interact with their friends and families.

According to its Form 6K – a report for non-U.S. companies to disclose financial or important changes in the company’s operations – about two-thirds of Renren’s revenue is from IVAS. The rest of revenue comes from online advertising.

Renren’s IVAS revenues are comprised of online game revenues, VIP membership fees, social commerce revenues from merchants on nuomi.com, and fees from 56.com. According to its Form 6K, its revenue from IVAS has increased from $12.422 million in March 2011 to $22.749 million in March 2012.

Renren’s online advertising revenue increased from $8.13 million in March 2011 to $9.33 million in March 2012. Despite these improvements in revenue, the operating expenses of Renren were US$40.2 million, an 89.8% increase from the corresponding period of 2011.

The 45% increase in IVAS revenue plus the 12.8% increase in online advertising revenue failed to stop Renren’s losses before Facebook launched on Nasdaq. The net loss of Renren increased from $2.6 million in March 2011 to $13.616 million in March 2012. Excluding results of operations attributable to Nuomi in both quarters, net loss in the first quarter of 2012 could be US$5.5 million, compared to a net income of US$1.0 million in the corresponding period of 2011.

These negative results may hurt the market confidence in Renren for its long-term performance. Its share price has shrunk by 66.14% since it first launched on Nasdaq in 2011. There is no clear evidence whether Facebook will repeat Renren’s market value loss, but, its 10.5% lossin share price suggests that the performance of social network sites on Nasdaq are unpredictable.

(Pucong Han is an intern reporter at People’s Daily Online. He is from Columbia Journalism School. Pucong can be reached at: puconghan@gmail.com)

Tuesday, April 24, 2012

GoblinXNA enable 3D Data Visualization

Attaching a 3D Map of New York City to a marker, developers are able to display and visualize data in 3D environment using their mobile camera or laptop camera.

Sunday, April 22, 2012

China Auto Rental Holding Inc to offer 11 Million ADS in an Early Stage of Development

By Pucong Han
Columbia Journalism School
Reporter at People’s Daily Online

China Auto Rental Holdings Inc. (NASDAQ: CARH), a leading car rental company in China, expects to offer 11 million American Depositary Shares (ADS) at a price between $10.50 and $12.50.

The company estimates that it will receive net proceeds of approximately US$112.5 million from this offering after deducting the underwriting discounts, commissions and estimated offering expenses. China Auto Rental plans to spend US$90.0 million received from this offering for vehicle acquisition to further expand their rental fleet.

The services of China Auto Rental include short-term rentals, long-term rentals and leasing. As of December 31, 2011, China Auto Rental had a customer base of over 450,000. Their fleet is comprised of 25,845 vehicles in 520 service locations covering 66 cities in all provinces of China.

“China’s car rental industry dates back to the Beijing Asian Games in 1990, when it was launched to cater to the transportation needs of foreign reporters and the employees of foreign diplomatic missions,” according to the Study of Automotive Landscape 2025 by Roland Berger. China Auto Rental derives revenues primarily from short-term car rentals. In the study, short-term chauffeured car rental services are almost unique to China and currently account for about 12% of the industry.

According to the SEC F-11 form, a filing with the Securities and Exchange Commission (SEC) required for the registration of certain securities by foreign issuers, although the revenues of China Auto Rental increased from RMB143.0 million (US$22.7 million) in 2010 to RMB775.8 million (US$123.3 million) in 2011, it incurred net losses of RMB43.3 million (US$6.9 million) in 2010, and RMB151.4 million (US$24.1 million) in 2011.

In the SEC F-11 form, China Auto Rental clarified that the company does not expect to pay dividends in the foreseeable future, and not until it declares dividends on its ordinary shares.

China’s car rental industry is currently concentrated in four cities – Beijing, Shanghai, Guangzhou and Shenzhen – due to higher purchasing power and higher car ownership and usage rates in these localities. According to Roland Berger, total revenues in China’s car rental industry grew from approximately RMB5 billion in 2005 to approximately RMB17 billion (US$2.5 billion) in 2010 and are expected to further increase to approximately RMB39 billion (US$6.1 billion) in 2015. Although China’s car rental industry has experienced substantial growth in recent years, it is at an early stage of development.

(Pucong Han is an intern reporter at People’s Daily Online. He is from Columbia Journalism School. Pucong can be reached at: puconghan@gmail.com)

This work has been published at: http://english.people.com.cn/90778/7795651.html

ZST Digital Networks, Inc. to Voluntarily Delist from NASDAQ

By Pucong Han
Columbia Journalism School
Reporter at People’s Daily Online

ZST Digital Networks, Inc. (“ZST”), a major developer, manufacturer and supplier of digital and optical network equipment to cable system operators and providers of GPS tracking devices and support services for transport-related enterprises in China, announced that its Board of Directors has decided to seek a voluntary delisting from the NASDAQ Global Market on April 6, 2012.

According to the unaudited third quarter 2011 financial Results, the third quarter net income of ZST increased 28% year-over-year from $6.4 million in 2010 to $8.2 million in 2011.

As previously disclosed in the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission (SEC) on March 30, 2012, BDO China Dahua CPA Co., Ltd. (“BDO”) informed ZST of its decision to resign as ZST’s independent registered public accounting firm, effective March 26, 2012.

According to the official notice filed by BDO, ZST seriously restricted their audit procedures for the year ending December 31, 2011. “We planned a more simple procedure to confirm the bank balance; but [ZST] refused and insisted we follow the process [ZST] had arranged,” said Bo Zhong, Chairman of the Board of Directors, and Huifang Liu, Chairwoman of the Audit Committee. “We were unable to continue providing our services as the independent registered public accounting firm for [ZST].”

“The restrictions placed on us by the company had substantially limited our work scope,” said Zhong and Liu. “The restrictions on the audit procedures could indicate a probability that there were material errors in previously issued financial statements.”

In view of the Company’s inability to continue to comply with NASDAQ’s continued listing requirements set forth in Listing Rule 5250 (c)(1), requiring filings to be made with the SEC on a timely basis, the Company has notified The NASDAQ Stock Market of its intent to voluntarily delist its common stock from the NASDAQ GM.

According to the press release, ZST intends to file Form 25, a notification given to the SEC by a national securities exchange telling of the removal from listing, on or about April 16, 2012. ZST anticipates that the delisting of its common stock will become effective on or about April 26, 2012. ZST expects that its common stock will be eligible for trading on the over-the-counter market thereafter.

(Pucong Han is an intern reporter at People’s Daily Online. He is from Columbia Journalism School. Pucong can be reached at: puconghan@gmail.com)
The article has been published at http://english.people.com.cn/90778/7785882.html

Yellowstone National Park 2012 Documentary

Yellowstone National Park is a national park located primarily in the U.S. state of Wyoming. Yellowstone, widely held to be the first national park in the world, is known for its wildlife and its many geothermal features. There is no clear evidence that it will erupt in 2012. But, the super volcano is still active. The super volcano beneath Yellowstone National Park in Wyoming has been slowly rising for hundreds of years.

Produced by Pucong Han
Columbia Journalism School
People’s Daily Online

Online Video Corporations Merger might End Losses

By Pucong Han
Columbia Journalism School
Reporter at People’s Daily Online

“We intend to lead the next phase of online video development in China,” said Victor Koo, founder, chairman and chief executive officer of Youku. On March 12, 2012, Youku Inc. (NYSE: YOKU) and Tudou Holdings Limited (NASDAQ: TUDO) announced that they had signed a definitive agreement for Tudou to merge with Youku in a 100% stock-for-stock transaction.

Under the terms of the agreement, Youku and Tudou shareholders will own 71.5% of shares, and shareholders of Tudou American Depository, a U.S. dollar-denominated equity fund of foreign corporations, listed on New York Stock Exchange (NYSE), will own the balance. The combined entity will be named Youku Tudou Inc. According to the press release, Youku’s ADSs will continue to be listed on the NYSE under the symbol “YOKU”.

The competition for the Chinese online video market has intensified. According to Chinalabs, a number of Chinese video sharing sites, such as 56.com, Ku6.com and Qiyi.com have gained 9.05 %, 8.24% and 7.11% market shares, respectively. However, online video sites are not able to generate reliable revenues except through advertising. Youku derives all of its revenues from online advertising services.

Tudou filed a prospectus form – publicly traded companies are required to file this form to disclose information – with the U.S. Securities and Exchange Commission in August 2011.
According to its summary, Tudou typically enters into advertising contracts with third-party advertising agencies. “We pay agency fees to third-party advertising agencies that purchase our advertising services and recognize revenues net of these agency fees.”

Youku has suffered losses since its initial public offering in 2010. Youku had a net loss of 204.68 million Yuan (US$ 31.01 million), while Tudou suffered a net loss of 347.4 million Yuan (US$ 52.6 million) in 2010. The net loss continued into the 2011 financial year. According to unaudited 2011 financial results, Youku reported a net loss of 47.474 million Yuan (US$ 7.445) for the third quarter, which ended September 30, 2011.

Besides continued losses in the Chinese video market, the new merged Youku Tudou Inc will have about 51% of market shares, according to Chinalabs. “Youku Tudou Inc. would establish a clear and dominant leadership position in China’s online video sector and become one of the largest Internet properties in China,” said Koo.

“Small and medium size video sites will face competitive pressures as a consequence,” commented Yunting You, a lawyer with the Debund Law Office in Shanghai.

Tudou, the largest online video-sharing platform presents user-generated videos and professional content, such as movie clips, TV series and music videos, while Youku offers a combination of licensed professional content, user-generated content and self-produced web video content. This merger will create the country’s largest online video-sharing platform and reduce the cost of licensed professional content.

“The greatest assets of Internet companies are users, teams and brand,” said Yongqiang Gu, chief executive of Youku. “With these three assets, reaping revenues and profits is just a matter of time.”
Both Youku and Tudou have started to extend their video services and content offerings to mobile platforms. According to the prospectus form filed in May 2011, Youku intends to develop and introduce products and services for and on various media platforms, such as mobile phones and tablet devices.

Tudou has worked closely with China Mobile as well as other regional operators, and mobile and handheld device manufacturers to extend its video services to mobile users since 2009.

According to the prospectus form filed in August 2011, Tudou begins to generate revenues in January 2010 from its mobile video services. According to the form, Tudou had an aggregate of approximately 15.8 million users with a total of approximately 27.7 million video views in 2010 and an aggregate of approximately 15.1 million users with a total of approximately 27.2 million video views for the six months ending June 30, 2011.

“Youku and Tudou share a vision for the future of online video in China and how to deliver the best user experience possible,” said Gary Wang, founder, chairman and chief executive officer of Tudou.

(Pucong Han is an intern reporter at People’s Daily Online. He is from Columbia Journalism School. Pucong can be reached at: puconghan@gmail.com)
This story has been published at: http://english.peopledaily.com.cn/90778/7770042.html

Fraud Investigations Hurt Chinese Companies

By Pucong Han
Columbia Journalism School
Reporter at People’s Daily Online

CleanTech Innovation, Inc, a China-based U.S. company and manufacturer of wind towers, went public, in early July 2010, through a reverse merger - a private company purchasing a public shell company, thereby avoiding the requirements of an initial public offering.

On March 2, 2011, trading in CleanTech on the NASDAQ Capital Market was suspended and had not resumed, according to a review from the U.S. Securities and Exchange Commission (SEC).

However, they continually to trade on the Pink Sheets Electronic Quotation System, while appealing the NASDAQ suspension to the Listing and Hearing Review Council. According to the Council, “it was discovered that CleanTech had failed to provide a copy of its written submission to the NASDAQ staff.” The Listing and Hearing Review Council concluded that CleanTech had intentionally withheld documents in violation of NASDAQ rules and affirmed the Hearing Panel’s decision to delist the company’s securities.

The Deputy Executive Director of the LiaoNing Provincial Government Small and Medium Enterprises Bureau, Chengfan Shan, said that CleanTech had lost more than $200 million in shareholder value after the delisting action. “[The delisting] has prevented CleanTech from participating in a $100 million job-creating project in New Jersey, part of the ‘Select USA’ program supported and advocated personally by President Obama and the Administration.”

CleanTech filed a complaint against NASDAQ Stock Market, LLC and the NASDAQ OMX Group, Inc. According to the amended complaint, CleanTech brought this action not to challenge listing or delisting actions taken by NASDAQ, but rather to challenge NASDAQ’s racially biased actions that fall outside the expertise of the SEC. The judge of the United States District Court for the Southern District of New York, Richard Sullivan, wrote, “Plaintiff raises serious allegations of discriminatory behavior by NASDAQ.”

In the amended complaint, CleanTech claims that “it has never made any late public filings with the SEC, never submitted any misleading accounting statements, was never accused of accounting irregularities or public disclosure inaccuracies by any regulatory authorities including NASDAQ, and has fully complied with all U.S. legal obligations and public disclosure requirements.”

On Jan 31, 2012, the United States District Court for the Southern District of New York dismissed the complaint voluntarily in part and involuntarily in part for lack of federal subject matter jurisdiction. The company’s lawyer, Blair Fensterstock, said, “CleanTech has voluntarily dismissed the appeal and is pursuing its rights, including its case for discrimination, before the SEC, which is pending. We would expect a decision in the next 60 days.”

According to the released memorandum, the court found that the system for reviewing disciplinary actions taken by self-regulatory organizations, like NASDAQ, is the “exclusive route” for obtaining review of actions, such as delistings. The Court disagrees that the alleged discriminatory conduct of NASDAQ resulted in the delisting.

“In fact, most of Chinese renewable energy companies launched on NASDAQ are small and medium size companies,” said Jinming Liu, the Senior Vice President of Ardour Capital Investments, LLC, Research Division. CleanTech Innovation is one of these medium size companies. “It is relatively hard and expensive for these companies to launch on the Chinese stock market compared to launching on NASDAQ through reverse takeover.”

As a result, there were a number of small and medium size China-based companies launched on NASDAQ through reverse merger in the past couple of years. Some of these companies have been under investigation for fraudulent behavior in the United States. “By alleging fraud on their blogs and websites, short sellers who knew the vulnerability of these Chinese companies were able to benefit from the share price decline,” said Liu. “If these Chinese companies were not behaving fraudulently, they should sue these short sellers to protect themselves.”

These investigations into fraud and the resulting delisting actions have hurt the reputation of China-based companies. Recent articles in the mainstream media have suggested a fraud epidemic in China. According to Liu, the consequence of such actions will lead to higher standards for China-based companies hoping to join NASDAQ.
The article has been published at http://english.people.com.cn/102774/7744865.html

Recycling Electronics in New York City

By Pucong Han
Columbia Journalism School
Reporter at People’s Daily Online

“Typically what happens to electronic waste is it ends up in landfills or is shipped to third world countries,” said Macaulay Campbell, a volunteer at the Lower East Side Ecology Center. “People don’t deal with electronic waste in environmentally friendly ways.”

In 2011, the United States Environmental Protection Agency (EPA) released a report on selected electronic products. Most of them were either dumped in landfills or shipped abroad. The Natural Resource Defense Council reported that in New York City alone, over 25,000 pounds of electronics are landfilled or incinerated each year. Only 25 percent of the 2.37 million tons of end-of-life electronic products in the U.S. were collected for recycling.

In 2009, Cathode Ray Tube (CRT) TVs and monitors comprised, by weight, nearly half of the electronics that entered the waste stream, according to an EPA 2011 report. CRTs are recognized as one of the most significant environmental health threats to humans. “Monitors and TVs have a lot of glass and can contain 2kg of lead. The flat screen monitors are more energy efficient, but they have mercury in them,” said Christine Datz-Romero, Executive Director of the Lower East Side Ecology Center. “These heavy metals in electronics need to be handled correctly.” They cannot be disposed of in ordinary waste landfills, but recycling companies can export them abroad.

According to GrowNYC, a non-profit organization whose mission is to improve New York City’s quality of life through environmental programs, “allthough they are a small portion of the waste stream by volume, computers and electronics contribute about 70 percent of the heavy metals in landfills.” The EPA states that 40 percent of the lead found in landfills can be attributed to these discarded electronics.

“We have a moral imperative. We use these electronics…they have added a lot of heavy metals and toxic materials into our waste stream,” said Datz-Romero. “It is very important for us to take responsibility for these technologies.”

Recycling electronics, such as cell phones, televisions, and computers (along with rechargeable batteries) keeps potentially harmful materials out of the waste stream and the environment. In New York City, a combination of local and state laws dictates the handling or recycling electronics and harmful materials.

The New York State Electronic Equipment Recycling and Reuse Act was signed into law on May 28, 2010. “New York has become the 23rd state to have e-waste legislation,” said Datz-Romero. “The law requires both manufacturers and retailers to offer free programs to make electronic recycling accessible to people in New York State.”

According to the Act, violators are liable for a civil penalty for each violation not to exceed $1,000 for the first violation, $2,500 for the second violation and $5,000 for the third and subsequent violations. The new rules were to be introduced in two steps.

The first ban, which began on April 1, 2011, said that “no manufacturer, retailer, or owner or operator of an electronic waste collection site, electronic waste consolidation facility or electronic waste recycling facility in the state shall dispose of electronic waste at a solid waste management facility or hazardous waste management facility.”
Steve Leone, the President of Brooklyn e-recycling handler eRecycleNY, said, “Commercial businesses are prohibited from placing electronic wastes in the trash.” eRecycleNY focuses on recycling computer electronics in New York City. “The new law focuses on the commercial sector because that’s where most computers are being used and most electronic waste is being generated.”

“Some businesses, such as big financial firms, who have sustainability programs hire a team of people to work on minimizing problems caused by their waste electronics,” said Leone. Cell phone companies, such as Verizon and AT&T, have introduced programs to recycle old phones and used batteries.

Verizon introduced HopeLine, its recycle program, in 1995. According to a Verizon press release, “Old wireless phone batteries, chargers and accessories are collected. Unused phones are refurbished and sold for reuse.” In September 2011, Verizon Wireless also introduced a new trade-in program, which provides customers who trade in old phones $100 gift cards towards the purchase of new phones.

AT&T has similar programs, such as the AT&T Reuse and Recycle Program. According to AT&T, “Customers are invited to bring back unwanted wireless phones, smart phones, accessories and batteries.”

Craig Boswell, president of HOBI International and an AT&T Recycling Vendor, said, “When we receive a phone, the first part for us is to see if we can reuse that phone.” Boswell’s company erases the data, and if the phone is in good working condition, they are re-sold. According to the Sustainability Program Office at AT&T, recyclers sell most of the used devices to secondary overseas markets where the phones are given another life.

“If we can’t use the phone as a whole phone,” said Boswell, “we’ll de-manufacture and take its parts. Then we’ll see which parts can be reused. Finally, what’s left will be recycled. We’ll recover the materials, such as the plastic, the metal and the copper.” AT&T suppliers are required to meet the EU WEEE Standard. Under this standard, 65 percent weight of the phone has to be recycled. Mike Moss, Director of Environmental Affairs at Samsung, said, “These materials will go back to products that we use everyday, such as cell phones, PCs and tablets.”

Although cell phone companies have introduced recycling programs, not many consumers recycle their cell phones or bring them back to retail stores because they don’t know about these programs or they don’t have times to go to the stores. People tend to dump small electronics, such as cell phones, into the trash. According to the report from the EPA, there were 141 million mobile devices, more than any other type of product, which were discarded in 2009. Only 11.7 million of these (eight percent of total end-of-life mobile devices) were collected for recycling. The rest, 129 million in all, were disposed of in landfills or shipped to other countries.

High tech companies, such as Cisco, also have programs to recycle electronics. “Cisco has two trade-in programs we offer to our customers,” said Gideon Schroeder, Recycling Program Manager for the Americas at Cisco Systems. If the customer is upgrading its networks and the equipment being replaced is fairly new, Cisco offers the customer a trade-in for the equipment. The customer can get an additional discount for returning its old equipment to Cisco.

Schroeder said, “much of the trade-in equipment is given another life by being refurbished and reused.” Customers can also recycle their electronics through the TakeBack & Recycle (TB&R) program.

“TB&R ships the materials straight to recyclers. This material is de-manufactured, sorted, shredded, sorted again into the fraction commodities that make up the products,” said Schroeder. “The fraction commodities yielded from the recycling process include steel, aluminum, copper, cardboard, plastic, wire/cable, and shredded printed circuit boards.” All these fractions go to downstream recyclers to be made into new products again.

Only a very small percentage of NYC firms recycle, and according to Leone, many throw their computers in the garbage. Most commonly, when businesses have computers to throw away, they call either a garbage removal company or a building management company. “Regardless of which one you call, your computers might end up in the trash,” said Leone.

The article has been published at http://english.people.com.cn/90777/7721348.html