Category Archives: Business/Economics

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

More pleas for help from Idaho company that wants to save Pocatello’s Hoku polysilicon factory! 1-thousand new jobs to be created?

23 November 2013 (18:09 UTC-07 Tango 22 November 2013)/19 Muharram 1435/02 Azar 1392/21 Gui-Hai (10th month) 4711

The following was sent by Francis W Kreais III of JCF Funding:

Gordon Jenkins has been working closely with Francis Kreais who is the founder and CEO of JCF Funding-who has been the front man for Arco Hills Silica Company making this deal work.

Gordon Jenkins is the president of Arco Hills Silica Company. This company owns some very large and very pure silica located in Butte County, Idaho. (About 20 Billion tons) When we heard of the bankruptcy auction of Hoku, we became extremely interested in acquiring that polysilicon plant because it fits in so well with what we are trying to do with our silica mine located near Arco Idaho.

We plan to purchase the entire plant at this upcoming auction because it would make it possible for us to go into operation without having to build our own processing plant. We also would benefit the local community because we would not only bring back the some 160 jobs related to the shutting down of the Hoku plant, but at least another 500 to 1000 jobs related to the development of our silica mine and related to the companies that are willing to move their plants out here to Idaho just so they can decrease the transportation costs of hauling the silica back to where they are already located.

Contact Francis W Kreais III at [email protected] to express your support!

Read More about the Hoku Materials saga:

JH Kelley blocked by federal court

Business/Economics, Idaho, U.S.

More Economic Decline: Who is the new owner of Chubbuck’s Pine Ridge Mall? It’s not the “family” company you think it is! GGP connection?

21 November 2013 (01:34 UTC-07 Tango)/17 Muharram 1435/30 Aban 1392/19 Gui-Hai (10th month) 4711

A couple of days ago the Idaho State Journal reported that the Pine Ridge Mall, in Chubbuck, was bought by a company called Farmer Holding Company.  The local newspaper quoted Rob Kingsbury as saying the company is a “family business”.

Farmer Holding started as Farmer Concrete back in 1948.  There are members of the board with the family name of Farmer (and employees related but not with the name Farmer), but today’s Farmer Holding Company Incorporated is a full fledged corporation created in Missouri in December 2000.  The incorporation has a “Permanent” (no expiration date) registration according to the Missouri Secretary of State.

According to the Missouri Ethics Commission, Farmer Holding employs at least three political lobbyists at the state level.

Farmer Holding Company branched out to mall properties in December 2012 when they paid a measly $11-million USD for the Capital Mall in Jefferson City, Missouri.  Farmer holding just paid a paltry $9-million for the Pine Ridge Mall in Chubbuck, Idaho.  And there is a connection; both malls were owned by GGP (General Growth Properties)!

Here’s another twist, according to Missouri’s News Tribune, ‘family owned’ Farmer Holding is a subsidiary of F&F Development.

At last report Farmer Holding was proposing a plan to improve the Capital Mall by combining it with an events center.  Farmer Holding told the Jefferson City council they would expand the property, and the city promised to give Farmer Holding $9-million collected from hotel taxes to help pay for $36-million expansion!

Interestingly Farmer Holding admitted that event/conference centers are money losing propositions.  Their own independently conducted economic survey said they would lose $250-thousand per year on the deal!  Yet, on 12 November 2013, the Jefferson City conference center facilitator told the city council to go with Farmer Holding’s plan.

On 18 November 2013, this is what city council member Carrie Carroll had to say about two competing convention center proposals: “At this point, neither one is right. Neither one is outstanding. Until they’re outstanding, they’re not going to be capable of getting our $9-million until we are enthused that this is right.”

On top of this Farmer Holding told city officials they had only $12-million of their own “investment” money to pay for the project, so even with the city’s $9-million they have to come up with $15-million from somewhere!  (thin air?)

A Jefferson City resident, Charles Gaskin, conducted his own research and warned city officials that Farmer Holding’s plan was a bad deal for the city.  He said city officials have become so desperate for developers that they now have the audacious hope that ‘if we build it customers will come’.  Gaskin says his research shows the economy is so bad that nobody will show up.  Remember, even Farmer Holding said they would lose money on the plan. (the Idaho cities of Chubbuck and Pocatello have adopted that same ‘built it they will come’ attitude)

In November 2013, Jefferson City council member Ken Hussey even warned “There’s a potential for super TIFs.”  TIF means Tax Increment Financing.

Farmer Holding was created out of a successful, truly family owned construction business.  The heirs decided to take their construction business to the next level and become fully incorporated.  In other words what they are doing is really all about making profits for their original construction ops.

And who is F&F Development?  At this point I don’t know!  Internet searches come up with many different companies that specialize in things like property development to things like direct selling.  Every listing for an F&F Development, whether it was a company in Florida or Connecticut, showed it to be a privately held company, which makes it hard to find info on them (they are not a publicly traded company).  There are several of these ‘development’ companies who list their forte as hotel and event/conference center developers.   If the News Tribune is correct about F&F being the parent company of Farmer Holding, it could explain why Farmer Holding is pushing Jefferson City to help pay for a new hotel and event/conference center in the Capital Mall.

Here’s another connection: GGP is an Illinois based corporation, Farmer Holding supposedly bought the Capital Mall but isn’t involved in operating it, another Illinois based company called Covington Realty Partners is actually running the mall (gee, it’s like an onion, so many layers).   Coldwell Banker Commercial Intermountain is managing the leasing of spaces at the Pine Ridge Mall in Chubbuck, Idaho.

I’m beginning to suspect that Farmer Holding always approaches city officials with the claim that they want to “rejuvenate” the local economy.  It could be that their true plan of action is to buy up distressed commercial properties for dirt cheap, build them up with the help of local taxes, then sell them off to the first sucker that comes along.  It’s like house flipping, but with commercial properties.

2017 Update:  In 2015 Caldwell Banker revealed that Farmer Holding-F&F Development took-over the once independently owned Carmike 7 theater in Chubbuck, Idaho.  The property was demolished and replaced with spaces for restaurants, currently occupied by Panera and Red Robin. The demolition of the Carmike 7 actually began in December 2014, as documented by Blind Bat News.

Also in 2015 Farmer Holding Company-F&F Development began buying vacant healthcare facilities when it took over Jefferson City, Missouri, Saint Mary’s Hospital.  Officially the plan is to redevelop the property (as part of the nationwide REIT conspiracy),  and at the beginning of 2017 Farmer Holding-F&F Development asked for taxpayer ‘incentives’ to finance the hospital redevelopment, which would allow Farmer Holding-F&F Development to cash-in on 50% of local sales tax revenues, and the imposition of an additional 1% sales tax on locals!  The city also granted easements for two parcels associated with the hospital property, blocking ‘right-of-way’ so that Farmer Holding-F&F Development could start redevelopment.

At the end of 2016, Farmer Holding asked Jefferson City to not only continue the Tax Increment Financing (TIF) for the Capital Mall project, but to increase it, as well as create a new TIF for their convention center project!

2018 Capital Mall Update: New signs and paint is all taxpayers got? 

Investment companies dump GGP & J.C. Penney!

Grand Teton Mall, in Idaho Falls, for sale! GGP dumping malls en masse! 

East Idaho’s Pine Ridge Mall, in Chubbuck, sells for paltry $9 million!

East Idaho shopping malls….quietly put up to be auctioned off….Merry Xmas!

A History Lesson in Economic Decline

All part of REIT plan to change the way you shop, and they blame you the shopper!

Mitt Romney….Destroyed jobs in Chubbuck 

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

Economic Decline: JH Kelley blocked by federal court, Hoku auction done in violation of court order! Proof the property will be broken up, into more than 1-thousand lots!

19 November 2013 (13:24 UTC-07 Tango)/15 Muharram 1435/28 Aban 1392/17 Gui-Hai (10th month) 4711

When it rains…..

The auction of Pocatello, Idaho’s White Elephant, Hoku Materials factory was ruled in violation of federal court rules.   JH Kelley made a high bid after the piecemeal and bulk auctions ended.

Judge Jim Pappas also pointed out that the massive property was split up into 1364 lots, and that all but 300 lots were bid on.   That’s interesting because after the auction JH Kelley stated they would help Pocatello “…attract a new user to the property…”

The judge will set a date for a new auction.

Idaho politicians give away tens of millions to companies that shut down! 

Hoku factory bought by construction contractor

Business/Economics, U.S.

Exceptional Failed State: UnAmerican Corporate America asking their employees to donate T-Day food, to themselves!

19 November 2013 (13:02 UTC-07 Tango)/15 Muharram 1435/28 Aban 1392/17 Gui-Hai (10th month) 4711

“Please donate food items here so Associates in Need can enjoy Thanksgiving Dinner”-Walmart sign in Ohio

It’s not unusual to hear a cashier ask you if you want to make a donation to some charity, but now retail employees are being asked to make donations to their fellow co-workers!

Ohio news media reporting that the Walmart on Atlantic Boulevard in Canton (apparently taking on the new role of being a food bank charity) is asking its own employees to donate Thanksgiving Day food to its own employees!

I’ve seen this in the past, but only in businesses that paid much more than Walmart and where there was a major pay difference between long time employees and newbies (also in Union shops).  But, I didn’t think any Walmart employees were economically able to make donations.

At the corporate level Walmart admits they pay most of its employees low income wages, even poverty level.  The organization demanding higher pay at Walmart, OUR Walmart, says the Ohio store’s food drive for its own employees is arrogant and insulting: “The company needs to stand up and give them their 40 hours and a living wage, so they don’t have to worry about whether they can afford Thanksgiving!”-Vanessa Ferreira

Maybe Walmart is getting into the charity business?  Consider the signage asking employees to donate to other employees, note that “Associates” and “Need” are capitalized,  “Associates in Need”, as if it is some kind of organization.

An employee at the Canton, Ohio, Walmart revealed these food drives for employees are not new, they’ve been going on for years.  But she proves to be an example of an ignorant Walmart employee, she said people shouldn’t blame Walmart because low paying jobs are the norm across the United States.  She obviously doesn’t realize that Walmart is the corporation that’s responsible for leading the charge to low wages, spending decades destroying other businesses to become the largest employer in the country!

And realize this, Walmart isn’t donating food to its poverty level employees, Walmart is ‘asking’ other low wage employees to donate the food!  If Walmart is truly concerned about its employees then Walmart should be donating the food, or maybe increase their wages!

Another Walmart employee, in Dayton, is more awake: “Walmart sets the precedent for everybody, so if they make changes, everyone would follow suit.”-Scott Stringer

Another Dayton employee said this about working at Walmart after seven years: “Personally, it is difficult for me to stock groceries that I can’t afford at the end of the day.”-Ricki Hahn, planning to go on strike

“That captures Walmart right there. Walmart is setting up bins because its employees don’t make enough to feed themselves and their families.”-Kate Bronfenbrenner, Cornell University Labor Education Research

And since Walmart is the biggest employer in the U.S., that captures the state of the economy for the whole country.  Happy Thanksgiving!

“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: Obama Care about to kill you with 20 new taxes! Violates Constitution! Prepare for permanent economic terrorism?

19 November 2013 (00:23 UTC-07 Tango)/15 Muharram 1435/28 Aban 1392/17 Gui-Hai (10th month) 4711

“….the Patient Protection and Affordable Care Act violated the Origination Clause of the U.S. Constitution….”-MATTHEW SISSEL vs U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, et al

At least 40 U.S. Congressman have joined a federal Supreme Court lawsuit that charges Obama Care with violating the Constitution.   Specifically “The Senate of the United States violated this constitutional safeguard when it ‘amended’ a House bill designed to reduce taxes by substituting the legislative substance of The Patient Protection and Affordable Care Act (ACA), which was one of the largest tax increases in American history, estimated to raise $675 billion in revenue. The Origination Clause requires that such revenue raising bills originate in the House, not the Senate.”

And just how many taxes were secretly created by Obama Care?  At least 20.  U.S. Congressman Jeff Duncan, from South Carolina, has published a full list of the massive amount of taxes created by Obama Care.  There are new taxes on investments, on individuals, on businesses (I’ve been posting about those medical device makers that are shutting down or leaving the country because of a new medical device tax),  taxes on non-profit hospitals (I’ve also been posting about non-profit hospitals shutting down because of this tax), increase in Medicare tax, even taxes on the outrageously expensive health insurance you’re being forced to pay for!  Click here to see the list.

Forbes is predicting that all the new taxes will result in a new level of tax evasion/fraud.  Obama Care will actually increase corruption within the United States.

Any political scientist/economist/historian will tell you that one of the major factors in the destruction of a society/empire is the introduction of excessive taxes, especially when the economy is crashing and burning.

The following was taken from How Excessive Government Killed Ancient Rome, written by Bruce Bartlett in 1994. See how much it reads very much like what’s been going on in (and what’s coming for) the United States: “….unscrupulous emperors like Domitian (81—96 AD.) would use trumped-up charges to confiscate the assets of the wealthy. They would also invent excuses to demand tribute from the provinces and the wealthy……citizenship was greatly expanded [immigration reform] in order to bring more people into the tax net.  Taxes on the wealthy, however, were sharply increased, especially those on inheritances…..Most emperors continued the policies of debasement [currency devaluation] and increasingly heavy taxes, levied mainly on the wealthy. The war against wealth was not simply due to purely fiscal requirements, but was also part of a conscious policy of exterminating the Senatorial class…..As the private wealth of the Empire was gradually confiscated or taxed away, driven away or hidden, economic growth slowed to a virtual standstill. Moreover, once the wealthy were no longer able to pay the state’s bills, the burden inexorably fell onto the lower classes, so that average people suffered as well from the deteriorating economic conditions.  In Rostovtzeff’s words, ‘The heavier the pressure of the state on the upper classes, the more intolerable became the condition of the lower‘ (Rostovtzeff 1957: 430).   At this point, in the third century A.D., the money economy completely broke down. Yet the military demands of the state remained high…….With the collapse of the money economy, the normal system of taxation also broke down. This forced the state to directly appropriate whatever resources it needed wherever they could be found [government run armed robbery]……. The result, of course, was chaos, dubbed ‘permanent terrorism’ by Rostovtzeff (1957: 449).  Eventually, the state was forced to compel individuals to continue working and producing [government run slavery].” 

“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, U.S.

World War 3, East Asian Front: Japanese leaders overheard talking about invading Korea! Calls South Korea “foolish”!

17 November 2013 (14:57 UTC-07 Tango)/13 Muharram 1435/26 Aban 1392/15 Gui-Hai (10th month) 4711

In a move that might result in North and South Korea uniting, a Japanese newspaper, Shukan Bunshun/Japan Daily Press, is reporting that  neo-imperialist Prime Minister Abe Shinzo was overheard calling South Korea “foolish”, Abe even called China “absurd”.   However, Shukan Bunshun actually re-wrote their story after massive outcries from Koreans, saying people mis-read their original story.

No author was given for the article, and it never said where or when Abe made the comments.  The South China Morning Post published their version of the story in China.

Other Chinese news media say Abe’s aides were also overheard talking of invasion plans for Korea!  Apparently the invasion would begin with Japanese banks cutting off funding for South Korean corporations, like Samsung.

Japanese news media is reporting that Hagel is planning to officially ask Japan to prepare to take over some U.S. military ops

Trilateral Commission member, Japan, to create new Homeland Security office!

Japan enters U.S. data collection/spying market!

Imperialist Japan to increase military spending by tens of billions 

TriLateral Imperialism as the U.S. mulls allowing Japan to invade Korea!!!

The Trilateral Commission was founded by David Rockefeller in 1973.  The official goal is to foster economic and political co-operation between Japan, North American countries and European countries (notice these are the regions that are currently in big economic trouble).

In 2000, the Japan membership was expanded to include many other Asian countries, and is now called the Pacific Asia Group.

In April 2013, Japan became a member of NATO (which has become the Trilateral Commission’s military unit): “…..You might ask why the Secretary General of the North Atlantic Treaty Organization should come to the Pacific region.  The answer is very simple.  Today’s NATO is a new NATO.  It’s a NATO with a global perspective.  It’s a NATO with global partners.  And Japan is our longest-standing global partner…..NATO and Japan are like-minded……we can help the United Nations and the international community to reinforce the rules-based international system……we need common approaches and responses…….To confront global threats such as terrorism, cyber attacks, and proliferation…..And I am delighted that later today, Prime Minister Abe and I will sign a Joint Political Declaration to guide our future work.”-Anders Fogh Rasmussen, NATO Secretary General, from statement made on the morning of 15 April 2013, Japan National Press Club

Business/Economics, U.S.

Exceptional Failed State: U.S. job losses & store closings 04 September 2013. Bad economy kills hoity toity restaurant! Who said internet sales were booming? Continued bad economy disapoints major truck maker, or does it?

Incomplete list of announced closings and layoffs.

Arizona: In Tucson, after 25 years in business Anthony’s In the Catalinas upscale (they sold bottles of wine as high as $13-thousand USD) restaurant closed down.  The restaurant’s wine steward blames the bad economy, saying business crashed back in 2008: “I thought we would have closed down years ago. When the market crashed, people didn’t have expendable income any more.”-Joseph Mascari, sommelier

California: In Culver City and Mountain View, Symantec laid off 20 employees.

Florida: Plastic surgery promoter SRAI now bankrupt.  Company officials blame lawsuits (maybe the company officials never heard the phrase “truth in advertising”?).  Too Big to Jail Bank of America lays off another 150 people in the Sunshine State!  In Tampa, Too Big to Jail Mortgage Bank laid off 435 people!

Illinois: Semi truck maker, Navistar International, laid off another 500 employees countrywide. Navistar laid off 140 people in August, Company officials said they were hoping the economy was actually recovering, but their hopes were dashed.  But are their claims of economic woes true? In 2011 the company reported huge profits, yet turned around and began closing factories and laying people off, and they’ve been selling off divisions and laying off employees off ever since!

Massachusetts: In West Boylston, the Ace Hardware in the Meadowbrook Plaza closed.  It’s blamed on a greedy landlord who jacked up the rent to force Ace out.  The landlord thinks they can make more money by dividing up the building into smaller store spaces (I’ve seen that happen here in Idaho, it’s a big fail and it caused lots-o-job losses!).

Minnesota: In Minneapolis, aerospace company SIFCO closing its turbine repair factory and laying off 50 employees. Company officials blame it on the continued crashing and burning in the aviation industry.

Missouri: In South Saint Louis, after 58 years of operations Manzo Importing Company imported foods grocery store shut down.  The owner said he’s focusing on wholesale restaurant supply only, he blames it on the bad economy: “When you have put all of your personal money into a business, have worked it as best as you can, and it’s still not making what it should.”-Pete Manzo

Nebraska: In Beatrice, Once Upon a Page scrapbooking supply store closed down.  The owners say they have to tend to aging parents and grandchildren.

New York: In Riverhead, The Red Collection consignment shop shut down.  The owner said dealing with a greedy landlord, and running shops in North Carolina was too much.  In Brooklyn, Too Big to Jail JPMorgan Chase closed an office, 35 people out-o-work.

North Carolina: In Wilmington, Carolina Farmin’ grocery store closed on Main Street, after only two years of business.  The company blames it on a greedy landlord who wanted to jack up the rent.

Tennessee: The Christian God can’t stop the YMCA from closing three of its 23 operations.  Officials with the Young Men’s Christian Association said it’s necessary to “ensure long-term stability”.

Washington: In Bellingham, Merch Bot toy/novelty store shut down.  The owner said the sales were good, but profit margins on novelty/gag gifts are bad.  In Sequim, another Mitt Romney Staples store shut down. Local news media tried to interview the manager, but he said the Mitt Romney founded corporation issued a gag order.

Wisconsin:  Whoever thinks internet sales are booming never heard of major fail Alice.com.  The internet retailer based in Middleton shut down.  Alice.com ceased ops less than two years after getting $3-million in private funding, but funding dried up in 2013.  Obviously you can’t make enough selling on the internet to go without debt financing.  There was a warning when company officials shut down their Spanish website.  Officials in Spain revealed the lack of funding.

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, U.S.

Investment companies dump GGP & J.C. Penney!

15 November 2013 (14:57 UTC-07 Tango)/11 Muharram 1434/24 Aban 1391/13 Gui-Hai (10th month) 4711

Chinese investment company, China Investment Corporation (CIC), dumped more than 27-million shares of General Growth Properties (GGP).

CIC manages the Chinese government’s foreign investments.  GGP has just sold off their Pine Ridge Mall in Chubbuck, Idaho, and is selling off four other malls in a group auction. 

JC Penney is negotiating a new lease at the Pine Ridge Mall, which was recently auctioned off by GGP/Howard Hughes Corp.

JC Penney is negotiating a new lease at the Pine Ridge Mall, which was recently auctioned off by GGP/Howard Hughes Corp.

A U.S. investment company, Pershing Square Capital Management (PSCM), also dumped GGP, as well as J.C. Penney.

PSCM sold 48% of its stake in GGP.  They also dumped all their 39-million J.C. Penney shares!  PSCM founder Bill Ackman said he gave up on trying to convince other J.C. Penney share holders to try out his plan to save the retailer.  He says his attempt to save J.C. Penney resulted in a loss of about $400-million USD!

Business/Economics, Idaho, U.S.

More Economic Decline: Heinz pulls stake, Warren Buffett abandons Pocatello, Idaho! Happy New Year!

15 November 2013 (13:34 UTC-07 Tango)/11 Muharram 1434/24 Aban 1391/13 Gui-Hai (10th month) 4711

It’s official, Heinz is shutting down their long time Pocatello, Idaho, factory.  410 people soon to be unemployed!  That’s another huge impact on the Chubbuck/Pocatello area.  The Idaho Department of Labor estimates the shut down will also impact 200 additional local jobs.  The city of Pocatello currently has the highest unemployment rate in the whole Gem State.

In February 2013, Heinz Frozen Food factory in Pocatello, Idaho, ended production of T.G.I. Friday's frozen meals, and laid off 80 employees.

In February 2013, Heinz Frozen Food factory in Pocatello, Idaho, ended production of T.G.I. Friday’s frozen meals, and laid off 80 employees.

At one time the Pocatello Heinz operation employed 800 people.

Heinz is also closing two other factories, one in South Carolina, and one in Ontario, Canada.  At least 1350 people will become unemployed (on top of the 600 jobs cuts Heinz made in August).  The shut downs will take place over the next eight months, happy New Year!

Heinz was sold to vulture capitalists 3G Capital and Warren Buffett.

Business/Economics, Idaho, U.S.

Exceptional Failed State: Idaho politicians give away tens of millions to companies that shut down!

15 November 2013 (03:25 UTC-07 Tango)/11 Muharram 1434/24 Aban 1391/13 Gui-Hai (10th month) 4711

“It’s a terrible program. It wastes more money than it does any good. Obviously, it’s a cost borne by Idaho businesses throughout Idaho, and employees.”-Wayne Hoffman, Idaho Freedom Foundation

According to the Idaho Statesman, Idaho’s governor, Butch Otter, “beamed” as he helped announce the ground breaking for Clif Bar in Twin Falls.  Otter shouldn’t beam, because he and other state leaders gave Clif Bar $4 million USD, from the Workforce Development Training Fund.

The Idaho Statesman discovered that since 1996 Idaho has given away at least $47 million to companies through the Workforce Development Training Fund.  But many of those companies fail, or fail to hire on the trainees.

Even the Idaho Department of Labor called the results of the WDTF “mixed”.   60% of grants failed to create long term jobs!

Also, 400 people who actually went through job training under WDTF were never hired!

Some failed companies that got WDTF money are Hoku Materials in Pocatello ($650-thousand) and Transform Solar in Nampa ($1.5 million).

 The WDTF “…is financed by employers through an offset to the unemployment insurance tax.”-Idaho Department of Labor

“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