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.

Government Incompetence equals What Economic Recovery? Small Business loan program a big FAIL!

In 2010 the U.S. Treasury Department set up the Small Business Lending Fund.  U.S.$30 billion was intended to be used to help small businesses expand and hire more people, it didn’t happen.

That Small Business Lending Fund ended, September 30, 2011.  Only $4 billion of the $30 billion was loaned out!

As usual everyone is blaming everyone else!  The banks, that were supposed to get the money to loan to small businesses, said the application process was too difficult and had too many restrictions.  The Treasury Department says hardly any bank applied.  Both the banks and the Treasury Department say hardly any small businesses applied.  Small businesses say it wasn’t worth the attempt because the banks put too many restrictions on the loans.

Some analysts say the Obama administration really thought that the economy would be much better in 2011, which is why they made it so tough to qualify for the loans.  In other words, there was no real effort to help small businesses in the United States.   Another example of how out of touch, with main street U.S.A., our political leaders in Washington DC are.

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Down economy equals increased domestice violence, Death rates up in Idaho

A new study by the Journal of Pediatrics says there is a direct correlation between the recession and an increase in child abuse cases.  The study was done in four states.

Not only that, but courts are reporting an increase in domestic violence: “Our court advocacy roles are up 40% from this time last year.”-Diane Zanetti, Executive Director of Turning Point of the Lehigh Valley, Pennsylvania

In Idaho, deaths connected to domestic violence are up.  So far this year 18 people have died from domestic violence, compared to 13 for the entire year of 2010.

Business/Economics, Idaho, U.S.

What Economic Recovery? Home Federal Bank lay offs hit Idaho & Oregon

“We continue to see high unemployment nationally and in our local markets. And the outlook for improvement in economic growth, which we believe is necessary to drive loan demand, remains questionable.”-Len Williams, Home Federal Bancorp

Home Federal Bank will close six branches in Idaho and Oregon.  Officials hope it will save the bank U.S.$1 million in the next year.

A total of 35 people will lose their jobs.  20 in Idaho and 15 in Oregon.  10 of the Idaho lay offs will come from changes to Home Federal’s mortgage operations.

Home Federal Bank reported a $4.1 million loss in 2010, and so far this year has lost $2.6 million!

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

What Economic Recovery? Idaho chip maker, Micron, in trouble

September 29, Boise based Micron reports losing money for the first time since 2009.  For the quarter ending September 1, Micron lost U.S.$135 million.

That’s a big drop compared to the previous quarter when the Idaho memory chip maker (they also make computers) reported a $75 million profit!

The loss is being blamed on a drop in chip prices, and a drop in sales.

Things got so bad in 2009, that Micron laid off more than half it’s Idaho work force! It has not recovered.

To make matters worse, Micron is facing a court case in which a California competitor claims Micron colluded with a South Korean company to price fix certain types of memory chips.  If they lose the case Micron could be hit with a $11.9 billion fine!

International, U.S.

World War 3: Russia successfully launches new submarine based ICBM

September 29, the Russian navy successfully launched a new submarine based ICBM.   The Inter Continental Ballistic Missile was launched from the Tula nuclear powered submarine in the Barents Sea.

Russian officials say the warheads hit their targets in Kamchatka in the Russian Far East.  It has longer range than older submarine based ICBMs, and can avoid the U.S. “missile shield”.

Business/Economics, U.S.

Employees at U.S. military helicopter factory doubled as drug dealers

“This investigation and prosecution focused not only on the sellers, but also on the users because of the critical role that these employees play in manufacturing military aircraft.”-Zane David Memeger, U.S. Attorney General’s office

After a four year investigation, 37 current and former employees at the Boeing plant in Philadelphia, have been arrested for selling drugs.  The plant builds CH-47 Chinook helicopters and V-22 Osprey tilt rotor aircraft.

Most of the drugs being sold were prescription pain killers. The customers were fellow Boeing employees.

Investigators say the drug dealing, and drug use did not affect production, however, in 2008 one employee sabotaged a Chinook by cutting 70 electrical wires.

Business/Economics, International, U.S.

What Economic Recovery? Japanese banks following the money to…Vietnam

September 30, Japan’s Mizuho Financial Group will invest big time in a major Vietnamese bank, Vietcombank, all in an effort to profit off Vietnam’s explosive economic growth.

Even officials with the U.S. bank Citigroup is amazed at how well Vietnam’s economy is doing.

Currently Vietnam’s GDP is at 6.11%.  Very good, but less than their 2010 GDP, which was 7.18%.  The annual GDP for the U.S. is stagnating between 1% and 2%!

The down side to Vietnam’s explosive growth, is that most Vietnamese are being left behind in the dust of poverty.  Fast economic growth comes with the paradox of increased poverty, because most of the quick profits end up in the pockets of the few (and they do not trickle it down).

Business/Economics, U.S.

What Economic Recovery? So much for any Job Stimulus, more than half of U.S. companies will NOT hire

“The findings of this survey show declines in each category of economic measurement.”-Jim McNerney, Chairman of Business Roundtable and Chairman, President and CEO of The Boeing Company

September 29, according to Business Roundtable, more than half of the biggest companies in the United States will not hire any new employees for at least six months.

In a huge change of corporate confidence, the latest survey shows only 36% of U.S. companies plan to hire new employees.  Just three months ago it was 51%.  That’s a big drop, and remember, the survey covers the upcoming end of year holiday season.

140 Chief Executive Officers took part in the Third Quarter 2011 CEO Economic Outlook Survey.   The survey showed not only declines in planned hiring, but in expected sales and corporate spending.

Business/Economics, U.S.

Global Economic Class War: Wall Street protestors grow to thousands, protests spreading to other cities

Two weeks later, instead of fizzling out like so many greedy corporate America loving right wing nut jobs predicted, the Occupy Wall Street protestors are still there, and they’re growing, nearly 2,000 at last count.

On top of that, ‘Occupy’ protests are spreading to other cities.  Some have fizzled out, while others continue.

In Los Angeles, on September 26 protestors gathered when President Barack Obama arrived for a $35,000 per plate fundraiser.  Most people in the LA area make less than $35,000 per year: “The ‘little man,’ the ‘American every man,’ just isn’t getting their voice heard. When you need $35,000 to donate to a campaign to get your voice heard, to have a meeting, that’s not democracy!”-protestor

Now, September 29, hundreds of union workers are demonstrating at LAX: “It’s just hard because the economy is bad as it is, even if they say the recession is supposed to be over, for too many people they are still in bad state and in dire need.”-Robert Branch, protestor

The Occupy Chicago rallies are in their 5th day. About 20 people started the protest on September 23, and some of them are still camped out in front of the Federal Reserve Bank of Chicago.  Some reports say the number of demonstrators are slowly increasing, about 40 as of September 28.

Several big name celebrities, and academics have made speeches during the Occupy Wall Street protests.  Protestors in New York city say they will march on New York police headquarters.  They say it’s in retaliation for the way police have been treating fellow demonstrators. So far 100 protestors have been arrested.

People are amazed at how many highly educated protestors there are: “These are the most over educated crowd of people that I’ve even seen in my life.  People come out of college and there are no jobs.”-Daniel Levine, student at Baruch College

A university professor, and security expert, says the people of the United States don’t have the guts to turn their protests violent, like in Europe: “Americans have become too complacent with the way their society is being run.”-Patricia DeGennaro, World Policy Institute/New York University

If you don’t think the Occupy Wall Street protestors are in it for the long haul, then explain why they have formed a “winterization committee”.

 

 

 

Business/Economics, U.S.

What Economic Recovery? Some damn good reasons why college is a waste of money!

The cost of getting a higher education in the United States has increased by 29% in just the past five years, and, despite the rhetoric from Corporate America and universities, many jobs taken by college graduates do not require a college degree!

First off, approximately two thirds of all college students graduate with student loans. For the first time in U.S. history the total amount of student loan debt now exceeds the total amount of credit card debt!

Secondly, at least one third of college graduates are working jobs that don’t need a college degree: There are more than 100,000 janitors that have college degrees.  317,000 waiters and waitresses have college degrees.  Approximately 365,000 cashiers have college degrees.  24.5% of all retail salespersons have a college degree.

Next time a college recruiter pesters you, or your kids, ask them to guarantee, in writing, that they’ll get a job relating to their degree, and that it’ll pay enough to justify the student loan debt!