All posts by Hutchins AAron

Born in Deutschland 1965, hometown was Bütthart, parents were not U.S. government employees. However, when father was tricked into joining the U.S. Air Force Civil Service, in 1969, with the promise that we could remain in Germany, we were promptly shipped off to Iran. Due to one of my Iranian educators being disappeared, along with her husband, by the U.S. ally Shah of Iran's Israeli & U.S. created Savak (for the then official terrorist act of promoting the idea that women can vote), and due to my U.S. citizen mother being placed on Savak's Terrorist Arrest List (for supporting the idea that women should vote, at that time the U.S. ally Shah of Iran did not allow women to vote, now they can) we left Iran for the United States in 1973, literally in the middle of the night. At the U.S. Embassy airbase the CIA operated Gooney Bird (C-47) was so packed with other U.S. citizens fleeing our ally Iran (because the Shah gave the OK to arrest any U.S. citizen for such terrorist acts as promoting the concept of voting) that we were turned away by the Loadmaster and had to take a chance on a civilian flight out of Tehran's airport. My father told me he and my mother had three culture shocks; first when they arrived in Germany as civilians, then after being shipped off to Iran as U.S. government employees, then again returning to the United States as unemployed civilians (because so much had changed in the U.S. while they were gone, their only news source was the U.S. Armed Forces Radio & Television Service which heavily censored information about the home front). Since I graduated high school in 1982 I've worked for U.S. government contractors and state & local government agencies (in California), convenience store manager in California, retail/property management in Georgia, California and Idaho. Spent the 1990s in the TV news business producing number one rated local news programs in California, Arizona and Idaho. 14+ years with California and Idaho Army National Guard and the U.S. Air Force. Obtained a BA degree in International Studies from Idaho State University at the age of 42. Unemployed since 2015, so don't tell me the economy has recovered.
Business/Economics, U.S.

What Economic Recovery? 8 Kmart stores closing down, 174 and counting! 13,920 people lose their jobs!

On 29 June 2012, Sears Holdings released their latest list of store closings, this time they’re all Kmart stores.

Two Kmarts in Florida, and two Kmarts in Georgia will be shut down. The other four Kmarts are located in Iowa, Virginia, Minnesota and Tennessee.

Sears Holdings pointed out that each store employs between 40 and 80 people, so this latest round of closings could result in as many as 640 people losing their jobs.

Since the beginning of 2010 Sears Holdings has closed and/or announced the closing of at least 174 stores (going by Sears Holdings estimations that could be as many as 13,920 people who lost their jobs), and more closings are planned.  The store names are Kmart, Sears, Sears Grand/Essentials, Product Repair and The Great Indoors.

Idaho, U.S.

58 wildfires in Eastern Idaho, and that’s before the official fire season began!

28 July 2012, fire fighters are still busy fighting numerous wild fires throughout eastern & southeastern Idaho. July is the official start to the wildfire season in Idaho, but so far 58 fires have raged since the beginning of the year!

27July 2012, new fire Fort Hall Reservation (east of Blackfoot), as seen from tens of miles to the southwest, looking northeast from the Simplot Don Plant.

According to the Eastern Idaho Interagency Fire Center (EIIFC) more acres have burned this year than in 2011, 2010 & 2009 combined!  And the official fire season is just starting!

On 27 July 2012, new fires popped up in the Fort Hall reservation northeast of Pocatello (east of Blackfoot). They’re called the Ridge Top, Stevens Peak, East Fire and Gibson Creek fires. Together they’ve burned 8,000 acres (3,237.4 hectares) in less than one day.

Fire officials blame the ongoing, 10+ years drought in Idaho, something the mainstream media seems to ignore when it comes to reporting drought conditions in the United States.

Local fire officials are concerned because most of the fires have yet to hit the tinder dry forests: “Our lower elevations right now are fairly critical. Our upper elevations in the timber, our large fuel, and the trees are drier than normal…”-Lynn Ballard, U.S. Forest Service eastern Idaho

EAST IDAHO WILDFIRES 2012: MAINTENANCE DAY FOR SKYCRANE FIRE FIGHTER @ POCATELLO AIRPORT

International

World War 3: Russia to establish new naval bases in Vietnam & Cuba!

“It is true, we are working on the deployment of Russian naval bases outside Russian territory.”-Vice Admiral Viktor Chirkov, Russian navy

27 July 2012, the Russian navy announced they will re-open Soviet era naval bases around the world, including bases in Vietnam, Cuba (the “backyard” of the U.S.) and Seychelles.

The bases are needed for creating material and technical supply centers for the Russian navy.  The official reason for the expansion of the Russia navy is to fight piracy!

International, U.S.

World War 3: Turkey establishes command & control base for the invasion of Syria, Poland closes embassy!

27 July 2012, among warmongering reports from U.S. mainstream media, Poland announces that it has closed its embassy in Syria and is evacuating all Polish nationals!

Up to this point it was the Polish embassy that was acting as the diplomatic representative for the United States.

Reuters is reporting that an unnamed source in Qatar claims that Turkey, a member of U.S. led NATO, has established a command and control base for the invasion of Syria.

The base is located 100 kilometers (62 miles) north of the Syrian border: “It’s the Turks who are militarily controlling it. Turkey is the main coordinator/facilitator. Think of a triangle, with Turkey at the top and Saudi Arabia and Qatar at the bottom.”-unnamed official from Doha, Qatar

The unnamed official also said: “Three governments are supplying weapons: Turkey, Qatar and Saudi Arabia.” And added: “All weapons are from the black market.”

Qatar played a major role in the western war against Libya.

On 24 July 2012, U.S. Secretary of State Hillary Clinton said: “I have to say that we are also increasing our efforts to assist the opposition.”

Business/Economics, International, U.S.

LIBOR: EU to make rate fixing a crime. Rate fixing scandal an excuse to create One World Bank! New CIBOR scandal!

26 July 2012, the European Union’s European Commission is asking its members to pass a new law making currency and interest rate manipulation a crime.

The scandal involves mainly U.S. and British Too Big to Fail banks and the British based LIBOR, Belgium based EURIBOR and Japan based TIBOR systems.  Recently it was revealed that such systems are also being used to help elites hide $20 trillion USD worth of wealth from tax collectors.

In Denmark, the Danish government is wrapping up their investigation into their own CIBOR system.  Officials running the Copenhagen Interbank Offered Rate are suspected of setting rates unjustifiably higher than the EURIBOR.

The Wall Street Journal recently said the scandal “…could lead to a new system of calculating a benchmark…”

Too Big to Fail Morgan Stanley is asking British officials to put the Bank of England in direct control of LIBOR.

Also, U.S. Treasury Secretary Timothy Geithner, stated he will be reviewing the proposed introduction of a new global rate system that will replace current LIBOR like systems.

The rate fixing scandal involves banks in North America, Europe and Japan (the regional members of the Trilateral Commission).

Business/Economics, Idaho, International, Technology, U.S.

What Economic Recovery? Hoku Corporation voluntarily de-lists, chapter 11 coming soon, “Liquidate Hoku Materials”

“How much longer can Hoku Corp keep the tsunami of debt, liabilities, liens, foreclosures and material breaches of contract at bay? What’s the delay in filing for bankruptcy protection? I believe that it may be driven by their energetic attempts to sell their solar subsidiary before the much tighter restrictions on selling assets that would come under bankruptcy.”-Marco Mangelsdorf, ProVision Solar

Hoku Corporation, parent company of failed Hoku Materials in Pocatello, Idaho, voluntarily de-listed itself from NASDAQ, and will probably file chapter 11 bankruptcy.

On 29 June it was reported that Hoku Corp had enough cash for only nine weeks of operation!

“If Hoku is unable to secure additional financing, it believes it will need to seek protection in bankruptcy from its creditors and to liquidate and wind-down Hoku and Hoku Materials. “-Hoku SEC statement, 25 June 2012

Officials also said they were unable to complete required financial reports and would miss the filing deadline for the end of the fiscal year.

At the beginning of July 2012, Hoku Corp announced it would voluntarily de-list from NASDAQ.  This after NASDAQ stopped trading of Hoku stocks, after share price fell to below $1.00 back in December 2011.  Hoku said their de-listing would take place on 10 July.

Now, Hoku has been trading as a penny stock, and as of 17 July was worth only 4 cents per share!

HOKU CORP GOING BUST! POCATELLO WASTED HUNDREDS OF THOUSANDS ON TAX BREAKS!  WHO’S GONNA BUY ALL THOSE NEW HOMES NOW MR MAYOR?

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s Coldwater Creek struggles to keep head above water. Takes on more debts. One loan from company known for Mitt Romney style take overs!

“The proceeds of the Term Loan Agreement will be used for debt repayment, to finance the acquisition of working capital assets, and for other general corporate purposes.  On July 9, 2012, the Company used $14.8 million of the proceeds to repay its term loan with Wells Fargo Bank.”-Coldwater Creek statement

The struggling Sandpoint, Idaho based womens clothing retailer, Coldwater Creek, has been busy trying to save itself, through huge loans and stock tricks.

On 09 July 2012,  Coldwater Creek took a $65 million USD loan from Golden Gate Capital. Stockholders seemed happy that Coldwater Creek took on more debt, because the company stock went up, slightly, it’s still trading at less than one dollar.

Stocks trading at less than one dollar per share is in violation of NASDAQ rules, which means Coldwater Creek could be de-listed just like Hoku.

On 21 July, Coldwater Creek announced it was considering a stock split, in order to get it’s value above the magic one dollar mark.  NASDAQ has given Coldwater Creek until 11 December to bring up the value of its stock.

On 19 July stock prices were at a weak 68 cents per share. Officials with the Idaho clothing retailer hope that 1-3 split would raise the stock to $2.00 per share.  A 1-6 split could get it to $4.00.  A meeting was supposedly held on 25 July to consider the split.  But this is just tricks.

Notice in the above quote that Coldwater Creek says it paid down $14.8 million in debt to Wells Fargo. What they didn’t say is that they’ve negotiated another $70 million revolving credit deal with the same bank!

Back to Golden Gate Capital.  This finance company took over Eddie Bauer in 2009, and is part of a larger group that took over Collective Brands (which owns PayLess and StrideRite shoes).

Golden Gate Capital now holds 19.9% of Coldwater Creek stock, and put two of its own people on the board of directors of Coldwater Creek.

Back on 30 June, an analyst with The Motley Fool, gave three reasons to dump Coldwater Creek stock: Stiff competition, no profits since 2007 and tens of millions in debt!

Business/Economics, International, U.S.

What Economic Recovery? Sales up, yet profits down for Nissan. Sales & profits down for Ford!

26 July 2012, Japan’s Nissan Motor has reported an increase in sales for the April to June quarter, but decreased profits.

Nissan officials said sales were up in China and North America, but, because of the rising value of the Japanese yen, and increasingly stiff competition, the overall profits fell 19.7%.  Their profit was still a hefty $1.5 billion USD (oh those greedy stockholders)!

Nissan said the only way they can keep profits up is to send more of their Japanese production to other countries, and use parts made in countries where the money is worth less than the yen.  Of course, this means more job losses in Japan!

U.S. based Ford also reported down profits, by 57%!  Ford, a much bigger company than Nissan, made about the same profit as their Japanese competitor, but Ford’s profit loss is tied directly to decreased sales worldwide.

Officials with Ford said they lost money big time in Europe, where the iconic car company saw a 15% drop in sales, losing more than $400 million USD.  They also lost sales in Asia, and profits were down in South America.

Ford expects that by the end of the year they will lose more than $1 billion USD because of the European crisis!

Business/Economics, International

What Economic Recovery? Britain in worst double dip recession ever, blame the Queen!

“It is clear that Britain is in the midst of the most prolonged period of stagnation it has faced in decades.”-John Longworth, British Chambers of Commerce

25 July 2012, Office for National Statistics announced another drop in GDP, for the third month in a row, officially putting the United Kingdom back into a recession.

U.K. economic performance data started being recorded in 1955, and the current situation is worse than anything on official record!

Officials with the Office for National Statistics are still adding up the costs of celebrating the queen’s Diamond Jubilee, but are already calling it a “significant hit” to the British economy.  Any public event involving the Royals is paid for by the government/taxpayers.

Some analysts say the Diamond Jubilee celebration actually stopped any economic recovery in Britain.

“They [government leaders] need to change course as their policies are causing permanent damage to our economy.”-Brendan Barber, Trades Union Congress