DOCSLIB.ORG

Customer Acquisition, Tion

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Customer Acquisition, Tion Spring ‘05 An executive advisor from Pitney Bowes CUSTOMERCUSTOMER ACQUISACQUISITION,TION, CUSTOMERCUSTOMERGROWTHGROWTH How mail integrates into customer communication to increase efficiency and effectiveness CUSTOMER Going through channels: Integrating communications “The Internet will mark the end of mail” and other misguided predictions IN THIS ISSUE Top CEOs and U.S. Postmaster General John Potter discuss reform and the future of mail Think global, mail global: An international perspective 2 Going through channels: Integrating communications 6 Misguided predictions about the end of mail 12 CEOs and the Postmaster General on the future of mail 16 Think global, mail global CONTENTS 18 Mitigating the coming postal rate increase 20 Changing environments require ongoing innovations 22 Meanwhile, in the real world... LETTER FROM THE EDITOR Dear Colleague, Many of us in business, particularly marketers, can become enamored with the next new thing. We sometimes forget that proven methods are often the most effective. And we totally miss that “old” tools are becoming “new” again. An example of this is mail, one of the most trusted and successful methods of acquiring and retaining customers. Despite the proliferation of electronic communication, paper-based mail continues to thrive, and can have a symbiotic relationship with other communication channels. In this issue of Pivotal Thoughts, you’ll find insights from leading chief executives, examinations of misguided predictions, and information on how smart companies are using mail as a key element of their integrated marketing and customer communication efforts. Our goal is to provide senior executives with important and practical information for running their businesses more efficiently and effectively. I hope that you find Pivotal Thoughts to be worthwhile reading, and I encourage you to send me your thoughts. If you decide not to use the mail, you can also send any comments, suggestions or ideas for future issues to me by e-mail at [email protected]. Sincerely, Matthew L. Sawyer Editor-in-Chief It’s what’s inside the envelope that counts GOING THROUGHTHROUGH INTEGRATING COMMUNICATION TO ACQUIRE AND GROW CHANNELSCHANNELS CUSTOMERS Acquisition of new customers and retention of capture and care, one achieves the same kind of existing ones. They may be the two most critical diversification nirvana that financial advisors activities that any business undertakes. After recommend in an investment portfolio. all, one can build a better mousetrap, and create an impressive distribution and delivery This relationship among communication system for it, and develop a surefire marketing methods explains why every one of them is plan for it. But if there’s an inadequate plan for thriving today — even in the face of channel- finding new customers and nurturing current specific obstacles such as don’t-call lists, ones, then those customers are bound to wind anti-spam software, TV commercial pass- up at the mousetrap maker across the street. throughs, and rising postal rates. Those who are successful at developing a communication plan to acquire and retain Integrating multiple customers are generally those that discover channels in a cohesive the value of integration — that is, combining mul- plan for customer tiple different communication methods in a capture and care achieves cohesive mix. the same kind of diversification nirvana that financial advisors This stands to reason. There is no one ideal recommend in an investment portfolio. customer capture and communications channel that optimizes reach, frequency, message focus, GOING target specificity and cost-effectiveness. Each channel has its strengths, which are balanced by Marketers know full well that reducing or the complementary strengths of the others. eliminating any one channelT simplyH becauseR it OUGH While advertising, for example, is strong on faces roadblocks is an ill-conceived exercise. It brand-building and reach, directGOING mail is strong upsets the delicate balance that makes for on targeted messaging and measurable ROI, effective, successful customerC communicationsHANNELS and electronic communication is strong on —ensuring that the right information is speedC and cost-effectiveness.H A N Ndelivered Eto the right Lperson at theS right time. Of course, each channel also has respective In large part, this accounts for the healthy state weaknesses in some areas, for which the of mail, even in the face of recent electronic others compensate. When one integrates multiple technologies, such as e-commerce and e-mail. delivery channels in a cohesive plan for customer 2 “The Internet and email seem to provide it in the mail, you know that somebody’s going affordances that make them very attractive to receive it, and you know they’ll go to their alternatives over mail, but only for some rather mailbox, and you know they’re going to touch it.” specialized and perhaps limited forms of communication,” says Fouad H. Nader of Direct mail continues to be a major player in the research firm Adrenale Corporation.1 marketing mix, even amid the growing influence of Internet advertising. Forecasts of Internet While it’s true that e-mail, for example, is now advertising expenditures have been dramatically the delivery method of choice for personal cor- reduced from the outsized predictions during respondence (personal e-mails now outnumber the dot-com boom. As the chart below indi- personal letters by 33 to 1), physical mail cates, direct mail is maintaining and even gaining remains a vital part of the communications mix share, due to its effective lead generation for businesses and organizations worldwide. capabilities and attractive cost-efficiency ratios. Mail continues to share this relationship with electronic communication. One example: Email So, what exactly are the attributes that mail campaigns and website registration can funnel brings to a communications plan? And what names into a database for more targeted and makes it so valuable a tool for acquiring and effective direct mail campaigns. retaining customers? Mail retains its status as the preferred mechanism CHANGING SHARES OF VARIOUS MEDIA IN THE US • • • • • • for delivery of such marketing content as publi- • • • • • • • • • • • • cations, retail catalogues and direct advertising. • • • • • • 100% And it accounts for two-thirds of transactional • • • • • • • • • • • • activity such as billing and payment.2 80% • • • • • • • • • • • • • • • • • • 60% • • • • • • “The one thing about a letter,” says U.S. • • • • • • • • • • • • Postmaster General John Potter, “is when you put 40% • • • • • • • • • • • • • • • • • • 20% • • • • • • • • • • • • '82 '85 '88 '91 '94 '97 '00 '03 Newspaper TV Magazines Radio Internet Direct Mail Sources: Pitney Bowes analysis based on Veronis Suhler Stevenson (2004) and DMA (1995-2004) data 12 4 3 65 3 Mail has the power to build relationships has already made the investment to deliver Growth and profit lie not in single transactions, information to a customer, why not optimize but in ongoing relationships. As businesses that investment by adding information that can around the world seek customers that will buy generate feedback and revenue? It is a way of today and tomorrow, they’re looking to grow broadening one’s customer base and revenue ongoing relationships and profitability within opportunity by making mail work harder and their existing customer base. That is why CRM smarter — and at negligible cost. has been a mainstay of corporate marketing strategy and processing improvements for better than a decade. That is also why there has been “A well-crafted mail piece has the advantage of being able to a growing appreciation of the strategic value of get through to every home and communications in building relationships. business and make regular contact with customers” Customer relationships aren’t built overnight. It Murray D. Martin, President takes steady contact to forge a bond with a and Chief Operating Officer of Pitney Bowes. prospect, then to cement that bond with a prospect-turned-customer. “A well-crafted mail piece has the advantage of While some predicted that technology would being able to get through to every home and decrease mail’s effectiveness, evidence to the business and make regular contact with cus- contrary abounds. Technology, in fact, is making tomers,” says Murray D. Martin, President and mail more powerful than ever, by integrating Chief Operating Officer of Pitney Bowes. And mail data with other parts of business. just as importantly, unlike other methods, mail can do this in a non-intrusive manner. This is Today, technology and analytics are being particularly important given the growing body of employed to unleash mail’s power and connect regulatory constraints and screening technologies organizations with the information they need to such as fax blockers, caller ID, and “do not call” enhance impact and performance. An example registries in the U.S., and anti-spam campaigns is “intelligent mail,” which flags every envelope, in the U.K. and elsewhere. self-mailer and package and contains rich information that indicates its identity and One of the reasons that mail is such an effective verifies the authenticity of the mail piece. relationship-builder is that it gives a business Intelligent mail technology not only provides the opportunity to spend more time, more often, information about the origin and destination of with more key stakeholders than many other any specific mail piece, but also its route, for types
Load more

Recommended publications
  • Speaker Profiles
    The 2006 Outsourcing World Summit SPEAKER PROFILES J. Patrick (Pat) Andrews Vice President of Information Technology Manulife Financial Since joining Manulife Financial in 1984, Pat has held a variety of positions within the IT organization, in the Corporate, Canadian and Japan divisions. From 2000 to 2004, Pat was Assistant Vice President for Project Management at Manulife Japan, located in Tokyo, where he was accountable for the development and implementation of the systems to support Manulife's introduction of Universal Life Insurance to the Japanese market. Since returning to Manulife's Canadian Operations in mid-2004, Pat has been responsible for IT Infrastructure in Canada. As part of the integration of John Hancock Life and Maritime Life into Manulife's operations in North America, Pat has been responsible for the negotiation of multiple outsourcing contracts, for IT Infrastructure and Application Development Services. Pat is currently Vice President, Canadian IT Infrastructure at Manulife. He holds a Bachelor of Commerce degree from Queen's University and is a Fellow of the Life Office Management Association. Mark Azzarello Director HR Operations International Paper Mark currently serves as Director, HR Operations. Mark is also responsible for the Company’s Standardization initiatives; Merger, Acquisition and Divestiture activities; and the Company’s HR Transformation initiatives. Mark began his career with International Paper in 1982 and has served in a number of different HR Business and Staff roles throughout the Company. Mark graduated from the University of Rhode Island, earning an undergraduate degree in Business and an MBA with a concentration in Human Resources. Mark lives with his wife, Mary, and their two children, Mark and Laura, in Memphis, TN.
    [Show full text]
  • SCHEDULE 14A Pitney Bowes Inc
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant □ Check the appropriate box: □ Preliminary Proxy Statement □ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement □ Definitive Additional Materials □ Soliciting Material Pursuant to §240.14a-12 Pitney Bowes Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. □ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: □ Fee previously paid with preliminary materials. □ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.
    [Show full text]
  • CSR Advisory Group
    O’Melveny & Myers LLP CSR Advisory Group November 2020 Eric Rothenberg (Chair) Partner New York tel: +1 212 326 2003 [email protected] Contents EHS and Energy Conservation Tech 3 Paul Sieben 4 EHS Stewardship 6 Kelly McTigue 7 Geoff Yost 9 Environmental 11 Eric Rothenberg, CSR Advisory Group Chair 12 FCPA and White Collar 16 David L. Kirman 17 Greta Lichtenbaum 22 Food and Product Safety 28 Hannah Y. Chanoine 29 Impact Funds 33 Alicja Biskupska-Haas 34 Labor Stewardship 36 Aparna B. Joshi 37 Adam Karr 41 Privacy and Security 45 Lisa Monaco 46 Real Estate 51 O’Melveny & Myers LLP 1 Michael D. Hamilton 52 Renewable Energy Stewardship 57 Junaid Chida 58 Water Stewardship 64 Matt Kline 65 Heather Welles 69 O’Melveny & Myers LLP 2 EHS and Energy Conservation Tech O’Melveny & Myers LLP 3 Paul Sieben Partner Silicon Valley D: +1-650-473-2613 [email protected] Paul Sieben, Head of O’Melveny’s Silicon Valley office, Admissions represents all stages of technology companies as well as numerous venture capital firms, other investors and market Bar Admissions participants. Paul’s practice is focused on M&A, venture capital, California private equity, early liquidity transactions, spin-offs, recapitalizations, public equity offerings and private debt Education transactions. Paul has served as lead counsel on hundreds of University of California, Los Angeles, venture capital, angel and private-equity financings, more than a J.D., 1998: Order of the Coif; Corpus hundred and fifty M&A transactions of all sizes, and a significant Juris Secundum Awards in Tort Law number of recapitalizations, public offerings and other and Civil Procedure transactions — many on behalf of, or opposite, major tech University of California, Santa companies, venture capital and private equity firms.
    [Show full text]
  • Pitney Bowes, Inc
    Postal Regulatory Commission Submitted 6/24/2015 3:35:36 PM Filing ID: 92583 Accepted 6/24/2015 BEFORE THE POSTAL REGULATORY COMMISSION WASHINGTON, D.C. 20268-0001 ) COMPLAINT OF FREDERICK FOSTER ) Docket No. ) COMPLAINT OF FREDERICK FOSTER (June 24, 2015) 1. Pursuant to 39 U.S.C. § 3662, Pro Se Litigant Frederick Foster (“Foster”) respectfully submits this complaint against the United States Postal Service (“Postal Service”), Pitney Bowes, Inc. (“PBI”) and John Does 1-10. 2. The complaint involves violations of: a) 39 USC §404(a) pertaining to the unlawful disclosure of intellectual property/proprietary information to any third party, and the unlawful use of a person’s information without permission from the person, b) 39 USC §401(2) pertaining to the unlawful investment or divestment of USPS competitive product funds and the intentional sabotage, dismantling, and demise of the Postal Service’s assets, revenue and real estate, to perpetuate a scheme to privatize USPS upstream operations, c) 39 USC §403(c) pertaining to any party including an officer of the Commission representing the interest of the general public, who believes that the Postal Service has violated this section (§§403, 404) may bring a complaint in accordance with section 3662. 3. The Commission has jurisdiction over this complaint pursuant to 39 U.S.C § 3662. 4. Moreover, the United States Postal Service, US Department of Justice, US District Courts, US Court of Appeals for Federal Circuit, and Pitney Bowes, Inc. (in error) have either asserted, found, or affirmed that the Postal Regulatory Commission has exclusive jurisdiction over claims against the Postal Service alleging violations of 39 USC § 404(a) and Plaintiff must file this complaint in the PRC.
    [Show full text]
  • Did You Knows...?' Learn More at Pitneybowes.Com/Us/Newsroom/100 Pitney Bowes Proudly Celebrates 100 Years of Innovation in Commerce
    100 'Did you knows...?' Learn more at pitneybowes.com/us/newsroom/100 Pitney Bowes proudly celebrates 100 years of innovation in commerce. Achieving this milestone is a testament to our company’s leadership in the commerce space while remaining focused on our core value of doing the right thing the right way. You can’t get to 100 years without some interesting backstories. You may know some facts about the Pitney Bowes story, but do you know over 100? Take a look at some of our most interesting current and historical facts. Did you know? While the company was incorporated on 23 April 1920, the United States Patent Office approved Arthur Pitney’s patent for a postage meter on 14 October 1902. Did you know? We have had 3 logos in our history. In 1931, Pitney Bowes introduced its logo to symbolize a mark of product excellence and a pledge to the Postal Service. Forty years later in 1971, Pitney Bowes introduced its logo to symbolize the intersection of paper-based and electronic communications. In January 2015, Pitney Bowes launched an updated logo representing our long history of innovation that has a rippling effect in enabling commerce for our clients. Did you know? On September 1, 1920, The Post Office formally approved the Pitney Bowes postage meter for use throughout the USPS. Two years later, England and Canada had approved the use of the Pitney Bowes postage meter. Did you know? Pitney Bowes is a founding corporate member of the National September 11 Memorial & Museum in New York City. Did you know? In 2017, we reached over 187,000 students through our grants and partnerships providing more than 4.3 million hours of enrichment through early literacy, STEM education, entrepreneurial training and mentoring programs.
    [Show full text]
  • 2019 Corporate Responsibility Report
    Corporate Responsibility Report 2019 President and Chief Our business Environment Our people Clients and Community Our COVID-19 Executive Officer letter practices suppliers response 01 A Letter from Marc B. Lautenbach, President and Chief Executive Officer Fellow stakeholders: It’s been an extraordinary year for our company, Last year we proudly endorsed the Business for Climate and Energy Solutions. Building on Today we continue to be guided by the strong our clients, and our entire world. On April 23, Roundtable’s Statement on the Purpose of a this record, we created a new senior-level ESG values, high professionalism and responsible Pitney Bowes entered its second century amidst a Corporation, which echoes our own commitment Committee and explicitly added sustainability to citizenship that are cornerstones of our culture. We global pandemic that has challenged businesses, to create long-term value for all our stakeholders our Enterprise Risk Management program. have always been a purpose-driven company, eager families, communities and governments including clients, employees, investors, the • Diversity and Inclusion: We continued to work to bring innovations that matter to our worldwide everywhere to think and act in new ways. Our communities where we operate, and the tirelessly toward a global culture that honors the client base and to improve life for everyone response to the pandemic has been both strategic environment we all share. You can read more about full breadth of backgrounds, perspectives and involved. As part of that process, we continue to and compassionate, grounded in our long-standing our approach to creating long-term value and the contributions of everyone in our company.
    [Show full text]
  • Pitney Bowes Annual Report 2013 1
    Annual Report 2013 The next chapter Pitney Bowes Annual Report 2013 1 Elmcroft Road, Stamford, CT 06926-0700 203.356.5000 www.pb.com 44676_CVRA.indd cov4-cov2 3/13/14 11:18 AM Innovation to enable commerce has been Stockholder Information World Headquarters Transfer Agent and Registrar an essential part of the Pitney Bowes story Pitney Bowes Inc. Computershare 1 Elmcroft Road, Stamford, CT 06926-0700 PO Box 30170 for over 93 years. In 2013, we began the 203.356.5000 College Station, TX 77842-3170 www.pb.com Stockholders may call Computershare at (800) 648-8170 www.computershare.com Annual Meeting next chapter of our story with a focus on Stockholders are cordially invited to attend the Annual Stockholder Inquiries Meeting at 9:00 a.m., Monday, May 12, 2014, at Pitney Bowes To provide or obtain information concerning transfer World Headquarters in Stamford, Connecticut. Notice of the requirements, lost certifi cates, dividends, changes of address innovation driven by our clients’ needs as meeting will be mailed or made available to stockholders and other matters, please call: (800) 648-8170, TDD phone of record as of March 14, 2014. Please refer to the Proxy service for the hearing impaired (800) 952-9245, for foreign they navigate the complexities of global Statement for information concerning admission to the meeting. holders (781) 575-2721; or write to the address above. 10-K Report Dividend Reinvestment Plan Included in this Annual Report to Stockholders is a copy Owners of Pitney Bowes Inc. common stock may purchase commerce in the 21st century.
    [Show full text]
  • Pitney Bowes 2016 Analyst
    Poised for Growth Pitney Bowes Analyst Day 2016 Agenda Topic Presenter Adam David Welcome / Introduction Vice President, Investor Relations Marc B. Lautenbach Poised for Growth President and Chief Executive Officer Joe Schmitt Enterprise Business Platform Vice President and Chief Information Officer Roger Pilc Product Innovation Executive Vice President and Chief Innovation Officer Break Bob Guidotti Executive Vice President and President, Software Solutions Software Solutions Mark Taylor Senior Vice President, Software Channels Mark Shearer Reinvent Mailing Executive Vice President and President, Global SMB Solutions Lila Snyder Global Ecommerce Executive Vice President and President, Global Ecommerce Break Mike Monahan Financial Update Executive Vice President, Chief Operating Officer and Chief Financial Officer Q&A Session The Company's financial results are reported in accordance with generally accepted accounting principles (GAAP); however, in our disclosures we use certain non-GAAP measures, such as adjusted earnings before interest and taxes, Adjusted EPS, revenue growth on a constant currency basis, revenue excluding the impact of currency and market exits, free cash flow, Segment EBIT and Segment EBITDA. The Company reports measures such as adjusted earnings before interest and taxes (EBIT) and Adjusted EPS and adjusted income from continuing operations to exclude the impact of special items like restructuring charges, tax adjustments, goodwill and asset write-downs, and costs related to recent dispositions and market exits. While these are actual Company expenses, they can mask underlying trends associated with its business. Such items are often inconsistent in amount and frequency and as such, the adjustments allow an investor greater insight into the current underlying operating trends of the business.
    [Show full text]
  • Technology & Business Services
    Technology & Business Services Strategic Market Insights – Q3 2017 Report Technology & Business Services G2 Insights – IT Managed Services The IT Managed Services Market is expected to grow from $152 billion in 2017 to $258 billion by 2022, a CAGR of 11.1%. As the subsector continually grows, G2 has observed the following trends: . Managed Service Providers Must Continue to Deliver Advanced Services . Inorganic Growth via M&A Drives Growth in Core Service Offerings . Increase in Adoption Rate Among Small and Medium-sized Enterprises (SMEs) . Service Providers with Domain and Industry Expertise Create Barriers to Entry and Value-Add . Shifting Focus on Hybrid and Multi-cloud Managed Services Managed Service Providers Must Continue to Deliver Advanced Services As growth of enterprise IT infrastructure persists, organizations continue to turn to MSPs to handle key elements of their IT needs. Outsourcing IT infrastructure, network, security, mobility, and communication needs allow enterprises to focus on their core competencies and increase efficiencies. By fulfilling these needs, MSPs have become a key factor in increasing the capacity of the enterprise’s IT personnel. For instance, companies are turning to MSPs for email hosting, customer relationship management (CRM) applications, storage, backup, recovery, and network monitoring. The trends are the results of emerging technological and customer demand changes in the market. A cloud-based deployment model offers higher agility when compared to that of a legacy on-premise deployment model. According to marketsandmarkets.com, cloud-based managed services are the fastest-growing deployment type in the managed services market and are expected to grow from $27B in 2017 to $54 by 2022, an expected CAGR of 15%.
    [Show full text]
  • Pitney Bowes Inc
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant □ Check the appropriate box: □ Preliminary Proxy Statement □ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement □ Definitive Additional Materials □ Soliciting Material Pursuant to §240.14a-12 Pitney Bowes Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. □ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: □ Fee previously paid with preliminary materials. □ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.
    [Show full text]
  • Form 10-K Pitney Bowes Inc
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Commission file number: 1-3579 PITNEY BOWES INC. State of incorporation: Delaware I.R.S. Employer Identification No. 06-0495050 Address: 3001 Summer Street, Stamford, Connecticut 06926 Telephone Number: (203) 356-5000 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, $1 par value per share PBI New York Stock Exchange 6.7% Notes due 2043 PBI.PRB New York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☑ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
    [Show full text]