Category Archives: Business/Economics

Business/Economics

Exceptional Failed State: U.S. job losses & store closings 06 December 2013. No more deodorant, no more Ben & Jerry’s, no more Lipton? British empire kills U.S. jobs!

Incomplete list of announced closings and layoffs:

The British empire owner of Lipton Tea, Ben & Jerry’s ice cream and many body care products, Unilever, has announced that the economy sucks so bad they’re going to layoff 2-thousand employees in 2014!  They are also drastically cutting back on production.  Company officials blame the economy and themselves: “The global economy has calibrated down about 1-1.5% and we probably should’ve done a better job seeing it coming!”-Paul Polman, CEO

Alabama: The Alabama Pain Center laid off 80 employees.

California: In Los Angeles, the House of Props shutdown after 65 years in the movie business. Investor’s Business Daily laid off another six employees.  In Temecula, The Outdoor Channel laid off five employees.

Indiana:  Too Big to Jail First Merchants Bank laid off at least 84 employees state wide.

Maine: Taxsucker Bath Iron Works laid off another 118 employees.  It’s blamed on reduced military spending.  They laid off 39 employees in November.

Minnesota: State University Moorhead laid off six people, and cut five majors.  More layoffs are expected.  It’s blamed on decreasing revenues.

Montana:  After nearly 50 years O-Toole’s Bar shutdown: “The economy just doesn’t support the bar anymore.”-Rose Wiseman, owner

New York:  NYC based legal drugs pusher, Pfizer, laid off 150 people in Ireland.  The company will shutdown their Irish factory in 2015.

North Carolina: Xerox continues layoffs, this time 168 call center jobs killed in Cary!  In Blakeney, Encore Bistro shutdown, no reason given.

Pennsylvania: In Lehigh County, Avantor laid off “fewer than 20 employees”.  It’s blamed on the bad economy.  In Pittsburgh,  Doug’s Market shutdown.

South Carolina:   In Columbia, Taboo Adult Superstore finally shutdown after losing its business license.

Texas: In Spring, British empire owned (Cadbury Schweppes) Dr Pepper Snapple bottling plant shutdown, 112 jobs lost!

Virginia: In Winchester, TV3 shutdown.  Employees said they were given no warning.  The owner, Gray Television, basically said it wasn’t worth it anymore.

West Virginia:  80 employees of Consol Energy were let go.  The company sold off five of its coal mines.

05 December 2013: Walgreens kills 175 jobs!

The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shut down.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013

Business/Economics, International

World War 3, Southeast Asian Front: Vietnam bans the U.S. dollar in order to stop money laundering!

16 March 2014 (07:35 UTC-07 Tango)/14 Jumada l-Ula 1435/25 Esfand 1392/16 Ding-Mao 4712

State Bank of Vietnam Circular No 05/2014/TT-NHNN goes into effect in April 2014, it says that all Foreign Indirect Investments (FII) into Vietnam must be made in Vietnamese  Dong, not U.S. dollars (or any other currency).

FII is when somebody from outside your country invests in ‘properties on paper’ in your country, without actually buying land/buildings.  Those properties could be held as securities, funds or private equity.  Vietnam also considers investments into businesses without owning or controlling them as FII.

The new law is specifically for investors living outside Vietnam.  The FII will also be non-transferable to foreign credit institutions or foreign banks.  This is an attempt to stop money laundering (as well as keep most of those FII in-country).

Business/Economics

Exceptional Failed State: U.S. job losses & store closings 05 December 2013. Walgreens kills 175 jobs! More ObamaCare job cuts! Canada kills U.S. jobs!

Incomplete list of announced closings and layoffs:

Who said the internet is stealing all the business? AOL laid off 20 employees.  America OnLine’s official policy is not to explain why they fire people.

McGraw-Hill Education laid off 60 employees in four locations across the U.S.  Company officials said they need to become more efficient.

Alaska: In Chugiak, 30 years old Rural Discount Center shutdown.  The owners blame it on policy changes by their suppliers.

California: The Corona Regional Medical Center laid off 40 nurses. Hospital officials said the layoffs were necessary in order to adapt to Obama Care imposed reimbursement cuts.  In San Diego, Peregrine Semiconductor laid off 20 employees.

Florida: In Largo, Rocky’s Diner shutdown without notice.  The owner blamed it on a worsening health problem.  In Lakeland, 20 years old Lakeland Sports Cards shutdown.

Illinois: In Lake Zurich, MC Sports shutdown after losing its lease.

Kentucky:  In Louisville fresh food seller, Grasshoppers Distribution, shutdown due to “lack of financial sustainability”.

Maine: Restaurant company Tim Hortons shutdown five operations in the Pine Tree State.  It’s blamed on the bad economy.

Maryland: In Aberdeen, Saks Fifth Avenue laid off another 191 people at its distribution center!  Saks laid off 200 people back in May 2012.  Saks was taken over by Canadian company Hudson Bay.

Massachusetts:  Medical instruments maker, Harvard Bioscience, warned of massive layoffs.  It’s part of the company’s plan to offshore U.S. jobs to China.

New Mexico: In Farmington, 20 years old Golf USA shutdown.

New York: Medical device maker, AngioDynamics, laying off 100 people over the next three years.  They are consolidating operations in response to Obama Care taxes on medical devices.  In West Islip, a King Kullen grocery store shutdown.  In Maspeth, Walgreens pharmacy laid off 175 Duane Reade employees!  Another 45 employees will be let go in 2014. Walgreens took over Duane Reade.

Ohio: In Heath, arts and crafts store Michaels shutdown.

Pennsylvania: In Cumberland, 40 years old Coakley’s Restaurant & Irish Pub now bankrupt.  Company officials say they need to reorganize.

Wisconsin:  In Milwaukee, Diversified Machine shutdown, 218 job lost!  It’s blamed on a merger.

04 December 2013: 2-thousand teachers will be laid off, in one state! 

The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shut down.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013

Business/Economics

Exceptional Failed State: U.S. job losses & store closings 04 December 2013. 2-thousand teachers will be laid off, in one state! YMCA turns to the Devil? More health care cuts!

Incomplete list of announced closings and layoffs:

What housing market recovery?  Too big to Jail Ocwen Financial, laid off more than 800 employees across the U.S.!  It’s blamed on their take over of GMAC Mortgage.

California:  Hewlett Packard announced they will kill 1124 jobs in European Union!  It’s part of the Californian company’s plan to kill 29-thousand jobs around the world by October 2014!

Connecticut: In Orange, a Stop & Shop shutdown, 123 jobs affected!

Delaware: In Greenwood, long time Yoder’s Country Store shutdown.  The family owners blame it on Walmart and dollar stores.

Florida: White Springs Agriculture Chemicals shutdown.  350 jobs lost! Company officials say the phosphate industry is becoming more competitive.

Kentucky:  In Lexington, Kentucky Proud Market shutdown.  The store manager said it was not for economic reasons, but she was not allowed to disclose the reason. The state Board of Education warned of massive layoffs throughout the taxpayer funded public school system.  2-thousand educators and staff could be laid off by spring 2014: “With sequestration, district bailout of the Kentucky School Board Insurance Trust, and budget cuts, we are headed for the ‘perfect storm’. By next March or April, we predict 10-12 districts will fail to meet their basic financial commitment and we will see pink slips like we’ve never seen before.“-Terry Holliday, Commissioner.    Compare that to 1800 who lost their jobs over the past three years.

Maryland:  MedStar laid off 74 hospital workers.

Michigan: In Dexter, ReCellular shutdown their distribution facility.  120 jobs lost!  It’s blamed on the loss of a major contract.

New Jersey:  Optimer Pharmaceuticals killed 177 jobs!  The company was sold to a competitor.

New York: Computer chip maker, GlobalFoundries, laid off 30 people as part of its plan to be more competitive.  In Forrest Hills, Perfume Globe shutdown.

Pennsylvania: In Philadelphia, Atlantic Express school bus service laid off 518 employees!  The company is bankrupt.

Ohio: Three Friendly’s restaurants shutdown.  Company officials said they were “underperforming”.

Texas: In Longview, Joy Global announced more layoffs, but refused to give numbers.  The company says demand for its products continues to crash.  This is the third round of layoffs in 2013.

Wisconsin: In Dane County, the Christian god couldn’t stop his YMCA from laying off 13 employees. The YMCA turned to the Devil, unAmerican Corporate America, and conducted a typical Wall Street survey that said even though they had not lost members, they weren’t gaining any either, so cuts had to be made.  The YMCA made drastic changes to its youth programs, as well.  Member Lisa Pierobon Mays, says the YMCA has lost its way: “It’s a real bait-and-switch they’ve done. Shows how out of touch they are.”

01-03 December 2013:  Property tax increase can’t stop city layoffs! 

The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shut down.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013

Business/Economics, Idaho, U.S.

More Economic Decline: Ashley Furniture shuts down liquidation center in Pocatello! So much for their “investment”!

12 March 2014 (15:54 UTC-07 Tango)/10 Jumada l-Ula 1435/21 Esfand 1392/12 Ding-Mao 4712

A local southeast Idaho TV station reported that Coldwell Banker realtor, Don Zebe, claims Ashley Furniture is simply selling off an “investment”, and has no plans to leave Pocatello, Idaho.   Yet he is the agent selling off both their Pocatello properties!

Ashley Furniture dumping their Oak Street "investment". Sales got so bad they started selling used cars in 2013!

Ashley Furniture Liquidation dumping their Oak Street “investment”. Sales got so bad they started selling used cars in 2013!

Ashley Furniture's Hurley Drive "investment", now up for sale. It sits on property that used to be residential, until the city forced the home owners out, so they could bring in the California based furniture seller.

Ashley Furniture HomeStore’s Hurley Drive “investment”, now up for sale. It sits on property that used to be residential, until the city forced the home owners out, so they could bring in the “independently” owned furniture store.

Zebe has the Ashley Furniture HomeStore listed for sale at $3.2-million USD, and the Ashley Furniture Liquidation store listed at $647,600.

Ashley Furniture recently announced they had more than $3-billion in furniture sales in 2013.  They also opened their 500th store, in Texas.  They claim they’re going to open 50 new stores across the U.S. in 2014.

But wait, it turns out that Ashley Furniture HomeStore, and Ashley Furniture Liquidation stores are independently owned.   These so called independently owned stores sell furniture made by Ashley Furniture Industries.

So, are the independent owners of Pocatello’s Ashley Furniture HomeStore and Liquidation stores just cashing in on their “investments”, or is there a plan in the works for new locations in Pocatello, or maybe Chubbuck?

Business/Economics

Exceptional Failed State: U.S. job losses & store closings 01-03 December 2013. Snobbish home decor business shutsdown 25 stores! Retirement plans shutdown companies! Property tax increase can’t stop city layoffs! More grocery store shutdowns!

Incomplete list of announced closings and layoffs:

Too Big to Jail bank holding company BOK Financial shutting down banks in Colorado, Kansas and Texas.  The banks include Bank of Texas, Colorado State Bank and Trust and Bank of Kansas City.

Arkansas: In Mountain Home, after 35 years the Carmike Village Five movie theater was shutdown.  The manager says they got little notice and no explanation: “I’m not sure what happened…”-Lee Davis

California: Internet money lender Cashcall going down, 769 people laid off!  In Los Angeles a McDonalds shutdown. 55 jobs lost.  Delaware North Companies Travel Hospitality Services laid off 66 employees.  In Panorama City, Ricon laid off 50 employees.  In Roseville, Obama Care victim Sutter Roseville Medical Center laid off 68 healthcare workers.  In Sacramento, Obama Care victim Sutter Oaks Midtown Nursing Center laid off 128 people! Sutter Health Sacramento laid off 11 employees.  In El Centro, International Paper laid off another three people.  In San Jose, Microsemi killed 110 jobs!

Colorado: Oxbow Mining laid off 115 people at its Elk Creek coal mine!  That’s on top of the 150 people they let go earlier! The company is doing needed structural improvements to the mine.   Royal Gorge Bridge Company laid off about 24 park employees.  Some of the employees had been with the company for 30 years.  It’s blamed on construction delays, loss of funds and city lease obligations.  In Colorado Springs, CS West Bikes shutdown: “It’s time for a new chapter, but business hasn’t been easy with all the fires and flooding going on.”-Mindy Carter, owner

Connecticut: In Collinsville, the two years old Flea Circus second hand store shutdown.  The owners consider it a success, because they expected to last only one year.  In Bristol, the Bare Bones Gallery shutdown.

Florida: In Kissimmee, Arabian Nights theme show restaurant shutdown: “Unfortunately, we have reached a point where the marketplace demands a cheaper product than we can provide.”-Mark Miller, owner

Illinois: In Elgin, Ball Corporation shutdown, 245 jobs lost!

Kentucky: In Covington, after 20 years the Behle Street Cafe shutdown.  The owner blames the bad local economy: “…with the loss of two major businesses in Covington, along with the development of The Banks, OTR, and no further development in Covington in many years we just couldn’t keep up.”-Shawn Thomas

Maine: The city of Methuan warning its firefighters and cops of layoffs to come.  It’s blamed on reduced tax revenues due to the suck ass economy, and that’s even with a $100 USD property tax increase!

Maryland: All Fresh & Green’s grocery stores shutdown: “We’ve reached the point at which continuing to operate these stores does not make financial sense…”-Robin Michel, CEO Natural Markets Food Group

Michigan: In Ypsilanti, after 27 years Fantasy Attic Costumes shutdown: “Our sales have dropped to a point where it is no longer feasible to maintain operations, so the going out of business sale begins now.”-Bill Brennan, owner

New Jersey: Atlantic City laid off 51 firefighters.  The jobs were being paid for by federal tax funds, and those funds ran out.

New York: Legal drugs pusher, Forest Laboratories, laying off 500 people! Company officials said they need to cut $500-million from their budget, and $110-million of that will come from job cuts.  In Utica, Xerox Business Services shutdown, 55 jobs lost.

North Carolina: Interactive mirror maker, Luxury Tec, now bankrupt.  Company officials had publicly stated they were about to expand.  Company officials are refusing to comment as to why they are now bankrupt.  PCS Phosphate Company (PotashCorp Aurora) laid off 85 employees. Company officials say the layoffs are a part of their new “sustainability efforts”.  The Just Released video store in the Southgate Mall shutdown.

Ohio: In Cleveland, Too Big to Jail Royal Bank of Scotland (RBS) owned Charter One bank shutdown three offices.  It’s part of the banking industry’s plan to push everybody into electronic banking only.  California based upscale home decor store, Z Gallerie, shutdown all 25 Ohio stores, 350 jobs lost!  It’s blamed on the bad economy.

Pennsylvania: In West Chester, Feminique sex shop shutdown.  The owner, Jill McDevitt, said her true reasons for opening the sex store was to make a statement and apparently she did.

South Dakota: In Rapid City, the Parent Teacher Outlet store shutdown.  The owner needed to sell the store.

Tennessee: 133 years old Hardwick Clothes now bankrupt.  Company officials blamed the retirement plan run by Pension Benefit Guaranty Corporation, and the bad economy: “….the economic downturn and the reduced stock market, all made the plan impossible to maintain and keep the company running. It was a good plan for its time but was just no longer feasible for us.”-Tommy Hopper, president

Texas:  In Copperas Cove the last local book store, Books, Comics and Things, shutdown.  The owner suffered a stroke.  In Houston, GE Power & Water shutdown, 200 jobs lost!  It’s blamed on company “restructuring”.

Virginia: No more fried pickles! In Fredericksburg, the Cheeseburger in Paradise on Carl D. Silver Parkway shutdown.  It might have something to do with the lease.

Washington: In Wapato, Piety Flats Winery shutdown.  It’s blamed on health problems, so much for Obama Care.  In Bellingham, 41 years old Sportsman Chalet shutdown.  It’s blamed on internet competition.

Washington DC: All Fresh & Green’s grocery stores shutdown: “We’ve reached the point at which continuing to operate these stores does not make financial sense…”-Robin Michel, CEO Natural Markets Food Group

Wisconsin: In Milwaukee, Kohls laid off 55 employees.

27-30 November 2013: JCPenney shutdowns!

The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shut down.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013

Business/Economics, U.S.

Exceptional Failed State: U.S. job losses & store closings 27-30 November 2013. JCPenney shutdowns! More shutdowns in California!

Incomplete list of announced closings and layoffs:

Alabama: In Selma, evil taxsucker KBR laid off 73 employees.

California: In Boron, Rio Tinto Minerals shutdown their borax mine, 234 jobs lost! In Lynwood, Elite Slides laid off 78 employees.  In Ontario, JCPenney’s JC’s 5 Star Outlet shutdown, 136 jobs lost!  In Vernon, Trinity Sports shutdown, 164 jobs lost!  In Los Angeles, Aircraft Service International Group shutdown, 90 jobs lost.

Connecticut: In Branford, 454 Life Sciences shutdown, 31 jobs lost.  In Glastonbury, Japan based printer maker Ricoh Americas shutdown, 147 jobs lost!

Florida: Duke Energy laid off 24 employees.

New Jersey: In Kearny, Dessert Service laid off 85 employees, for unknown reasons.

New York:  In Horseheads, Missouri based networking products maker Belden Incorporated shutdown.  173 jobs lost!

Ohio: In Canton, Capital Senior Living shutdown, 43 jobs lost.

Pennsylvania: In Reading, JCPenney’s JC’s 5 Star Outlet shutdown, 66 jobs lost.

According to employment consultant Challenger, Gray & Christmas, employers in the United States issued 45314 “planned” job cut notices in November 2013.  This does not count the small mom and pop operations.

The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shut down.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013

Business/Economics, Idaho, U.S.

Exceptional Failed State: More proof ‘Wall Street’ is a scam to steal your money! Regulator deletes “Red Flag” info about stock brokers!

07 March 2014 (19:26 UTC-07 Tango 06 March 2014)/05 Jumada l-Ula 1435/16 Esfand 1392/07 Ding-Mao 4712

“…there are problems at all those levels….it’s really been an honor system…there were breakdowns at all levels….”-Micheal Siconolfi, Wall Street Journal interviewed on CNBC’s Nightly Business Report

“PIABA Warning: FINRA Withholds Critical ‘Red Flag’ Information in Broker Background Check Disclosures to Investors.”-Public Investors Arbitration Bar Association

“The report is being issued as deeper problems with FINRA’s disclosure BrokerCheck were brought to light. A Wall Street Journal investigation published late Wednesday found that the public records of some 1,600 brokers failed to include criminal charges, bankruptcy filings and other problematic issues that should have been in their files.”–Reuters

The Financial Industry Regulatory Authority (FINRA) is a private corporation hired to supposedly keep ‘Wall Street’ honest.  FINRA is not a government agency.

“…investors need to be a lot more active…..do a little forensic investigation of your own…go to your state securities commissioners….”-Micheal Siconolfi, Wall Street Journal interviewed on CNBC’s Nightly Business Report

How can Idahoans trust their own state regulators?  Idaho’s own State Treasurer, Ron Crane, was outed by an internal audit which revealed that he recently blew through at least $10.6-million of taxpayers money, betting it on ‘Wall Street’!  Crane has been Idaho State Treasurer since 1998!

Business/Economics, U.S.

Exceptional Failed State: The Hell of ObamaCare Lies! More double/triple taxation! Got a great health insurance plan? Get ready to pay a 40% “Cadillac” tax on that!

07 March 2014 (18:39 UTC-07 Tango 06 March 2014)/05 Jumada l-Ula 1435/16 Esfand 1392/07 Ding-Mao 4712

“The 19th Annual Towers Watson/NBGH Employer Survey on Purchasing Value in Health Care found that employer costs are expected to reach $9,560 per employee in 2014, an increase of 4.4%* from $9,157 in 2013………..employees’ share of premiums increased nearly 7%, to $2,975, this year. Out-of-pocket costs also increased. The total employee cost share has climbed from 34.4% in 2011 to 37% in 2014. Employees now pay over $100 more each month for health care compared with just three years ago.

Nearly half (49%) of employers have increased employee contributions for dependent tiers at higher rates than for individuals. Another 19% expect to make this move next year. About one-quarter (24%) of companies now use spousal surcharges of around $100 per month……..the trend toward increased cost sharing for spouses will likely continue.

The survey was completed by 595 employers between November 2013 and January 2014. Respondents collectively employ 11.3 million full-time employees, have 7.8 million employees enrolled in their health care programs…..”–Towers Watson

“One big reason: the so-called Cadillac Tax. In 2018, under the Affordable Care Act, high-priced employer-sponsored insurance plans will trigger a 40 percent excise tax on insurance benefits in excess of $10,200 for an individual and $27,500 for a family plan.”–Bertha Coombs, CNBC’s Nightly Business Report

Business/Economics, Idaho, U.S.

More Economic Decline: Radio Shack & Staples ups the ante, more than 1-thousand stores to close down!

06 March 2014 (08:17 UTC-07 Tango)/04 Jumada l-Ula 1435/15 Esfand 1392/06 Ding-Mao 4712

At he beginning of 2014 Radio Shack announced it will close 500 stores.  That was before they compiled their crappy Xmas 2013 sales.  Turns out Santa decided to take a dump down their electronic chimney!

Click pics to make bigger.

End of Gregorian year 2013 sales crashed 20% for the iconic Radio Shack.  So now 1100 Radio Shacks will close down.  There has yet to be confirmation as to whether this is an additional 1100 stores on top of the 500, or is this the final 2014 total?   An investor/ bankruptcy analyst says Radio Shack is in a death spiral: “They can continue to operate but they are in a cash-flow negative spiral and that doesn’t usually reverse itself.”-David Tawil

In the late 1980s I worked at a Lompoc, California, Radio Shack.  I lost my job when I tried to blow the whistle on a scam the lead sales associate was running with the electronic repairs.  The guy would take customers’ broken electronics, charge them the usual Radio Shack fees to send it back to Texas for repair, but instead he did the work himself.  People started complaining because many of the repair jobs were failures, and some people never got their items back.  I found some repair orders sitting in a closet that had receipts dated from more than a year earlier! I quickly learned the store manager was involved because I lost my job when I told him about the scam.

Now comes Mitt Romney’s wunderkind Staples.  Their end of year revenues were were so bad they’ve just announced they will close 225 stores by the middle of 2015!

Santa’s dump on Staples was so big that company officials say they need to cut $500-million USD!  It’s blamed on increased competition from the merged Office Max/Office Depot.

Staples shutdown 40 U.S. stores in 2013.