Category Archives: Business/Economics

A History Lesson in Economic Decline: Pocatello’s Old Fred Meyer & Albertsons on Yellowstone Ave, did not close down in the 1990s

26 April 2013 (15:46 UTC-07 Tango)/15 Jumada t-Tania 1434/06 Ordibehest 1391/17 Bing-Chen (3rd month) 4711

Our local southeast Idaho news media has done a piss-poor job of keeping historical records of the area, and many newbies to the area have false ideas about when things happened.

I’ve read some postings that say the Old Fred Meyer and the Albertsons grocery store, both on Yellowstone Avenue in Pocatello, Idaho, closed down in the 1990s.  Not true.

Those stores were located on what’s called Alameda Plaza.  Alameda Plaza is one of several prime examples of the decline of the local economy, which is still in decline, despite the new WinCo being built there.

The economic decline can be traced to Simplot moving its corporate HQ from Pocatello to Boise in 1998-99, and the city of Pocatello and county of Bannock refusing to go along with Union Pacific’s plan to make Pocatello the Pacific Northwest depot for their rail operations.  Then came the 2001 demise of Astaris-FMC’s mining operations killing at least 3-hundred jobs (which I remember well because employees were calling into a local radio news show trying to leak news of the closing, but the radio announcer actually chastised the callers for spreading such rumors, then a few months later no more FMC!), Ballard Medical moving its factory to Mexico, ON Semiconductor taking over AMI.  All these things, and more, took place between 1999 and 2007.

FMC site, west of Pocatello and Chubbuck, south of Fort Hall Reservation

FMC site, in Power County, west of Pocatello and Chubbuck, south of Fort Hall Reservation

Former location of J.R. Simplot Corporate HQ, Chubbuck, Idaho

Former location of J.R. Simplot Corporate HQ, Pocatello, Idaho. Just across the street from the Chubbuck Pine Ridge Mall.

Ex Simplot HQ awnings adding charecter to the otherwisedrab Pocatello City Hall

Ex Simplot HQ awnings adding character to the otherwise drab Pocatello City Hall

Back to Alameda Plaza. There were other stores in the plaza like Little Caesar’s pizza, a Chinese food buffet and a movie theater.

The Alameda Plaza Triplex opened in the 1970s.  In 1995 it was bought by the same guy that owns the Carmike theaters in the Chubbuck, Pine Ridge Mall area (until 1995 he had only the one cinema, Carmike Cinema 7, near the Pine Ridge Mall, and it wasn’t part of the mall property although the mall got a lot of complaints from people who thought it was).  The Alameda Plaza Triplex was closed around 2005 when the owner built the new Pineridge 10 Cinemas on the north end of the mall property. The Triplex was then used as a church until about 2012, then torn down to make room for the new WinCo.

The banks are still there (actually only the Wells Fargo is on Alameda Plaza proper, the Key Bank is a separate property).

Alameda Plaza in Pocatello, and the Pine Ridge Mall in Chubbuck, were both owned by Price Development Corporation (aka J. Price).  I worked the property management side for J. Price from 2001 to 2003.  During 2003, J. Price sold the properties to GGP (General Growth Properties).  Those properties included the Grand Teton Mall in Idaho Falls, and the Boise Town Square in Boise.  I worked for GGP until 2005.

By 2000 Fred Meyer had moved out of the Alameda Plaza location into the old Pocatello Mall location (I remember we used to rent out the empty old Fred Meyer building to boat and RV shows), but the Alameda Plaza Alberstons was still in operation, along with Little Caeser’s and the Triplex theater.

Those of us working in property management could see first hand evidence of a crashing economy.  In 1998, the Chubbuck Pine Ridge Mall was packed all the time (it’s amazing how many people called it the Pocatello Mall, and how many people still think it’s in Pocatello)!  That big mall parking lot was almost full every Friday and Saturday.

When I started working for J. Price, in 2001, the ‘traffic’ at the mall was so busy mall management had to hire extra part time workers during summer, mainly high school-ers and college students, just to keep the parking lot and mall interior clean.

By 2002 customer traffic had dropped off, enough that they cut back on summer hires.  By 2003 mall management stopped hiring extra summer time help, there was no need because customer traffic was down by more than half.

Anchor store Macy’s and ZCMI left.  ZCMI occupied the two story anchor, and they had a full two story operation, not like the new pathetic Herbergers.   ZCMI was replaced by May, which was quickly turned into a Dillards.  They were true two story operations, but didn’t last long.

pine ridge mall

Fading Pine Ridge Mall, Chubbuck, Idaho.  This two story anchor store is the new home to Herbergers, but they’re running only a single story operation.

The now vacant Macy's anchor at the Pine Ridge Mall, in Chubbuck. This is also the spot where I found the inert bomb.

The now vacant Macy’s anchor at the Pine Ridge Mall, in Chubbuck. This is also the spot where I found the inert bomb.

A little diversion here; during 2002 Pine Ridge Mall got a phone call saying there was a bomb in the mall.  I spotted a large garbage bag near the south entrance to Macy’s, a Chubbuck cop said it matched the description in the bomb call.  We evacuated the mall. Most of the tenants and customers thought we were bullshitting them, until they saw the cops swarming in.  Later that evening it was determined that the bomb was inert (no explosives).  A couple weeks later arrests were made.  The bomb scare was a False Flag by some would be bank robbers, who chickened out on robbing the bank.  One of them got drunk at a party and spilled the beans, and was turned in by some of the party goers.  You know, the city of Chubbuck and Pocatello didn’t get ‘locked down’ and the only federales to get involved were the FBI, and they kept a low profile.  And we didn’t have any gottdamned paramilitary cops shoving their M4s in our faces like in Boston Strong Massachusetts!

We don’t mess around out here, example: In March 2013 a mentally unstable man tried to take hostages at the Chubbuck Petco.  A Bannock County Sheriff’s deputy ended that real fast with a single gunshot to his neck, and he had the help of the Petco employees:  “….Once Mr. Wilson had left the store with the hostage, this worker had the presence of mind, despite what was going on, to shut the front doors and lock them so they couldn’t get back in……We’re just grateful that a lot of good common sense was used here.”-Randy Severe, Chubbuck Police Chief

You hear that Boston Strong Massachusetts? “Commen sense”, not paranoid police state-ism!

Back to the economy.  At one point the vacant Macy’s was rented out to local operation Party Palace (which was against GGP’s policy of not renting out to local operations, but GGP was getting desperate), but they moved on as well.  The KB Toys store was closed almost without notice (having become the victim of Mitt Romney and his vulture capitalist buddies).

old kb toys pine ridge mall

Former location of KB Toys, Pine Ridge Mall, Chubbuck, Idaho

Over at the Alameda Plaza, we knew that once Fred Meyer moved into their new location across the street, the other tenants would be leaving as well.  J. Price and GGP had tried to attract many retailers to the Pine Ridge Mall, and Alameda Plaza, but the potential tenants ran their own economic surveys of the area and almost all concluded it wasn’t worth it to set up shop in Pocatello or Chubbuck.

pocatello fred meyer

Fred Meyer moved into the former Pocatello Mall location between 2001-2002

Still vacant JJ North's buffet, after all these years. Pine Ridge Mall, Chubbuck, Idaho.

Still vacant JJ North’s buffet, for at least ten years now. Pine Ridge Mall, Chubbuck, Idaho.

The new Fred Meyer location included a Golden Corral, Gottschalks and Honk’s.  The Golden Corral was too much competition for the crappy JJ North’s buffet at the south end of the Pine Ridge Mall property, and they went bust (along with the JJ North’s on the Grand Teton Mall property).

Back at the new Fred Meyer plaza, the Gottschalks didn’t last long as the California based company went bust.  Great Harvest bread store closed down their operation, and Idaho based Honk’s went bankrupt in January 2013.  The Pocatello Honk’s closed without notice, and what I find interesting is that the Boise news media reported that Honk’s was not closing any of their stores!

gottschalks pocatello

The vacant (for several years now) Gottschalks, in Pocatello, Idaho

Once filled with the smells of Great Harvest Bread Co, in the Pocatello Fred Meyer building complex.

Once filled with the smells of Great Harvest Bread Co, in the Pocatello Fred Meyer building complex.

Honk's $1.00 Store in Pocatello, Idaho. Vacated on 03 January 2013.

Honk’s $1.00 Store in Pocatello, Idaho. Vacated on 03 January 2013.

Also, there was a Smith’s grocery store across the street from the new Fred Meyer location.  Smith’s was closed as the new Fred Meyer had groceries (the old one did not), and both Fred Meyer and Smith’s are owned by the same company.

About the same time the Chubbuck Walmart expanded to a ‘super’ Walmart with groceries.

Months ago the portrait studio quietly vacated this Chubbuck, Idaho, Walmart.

Months ago the portrait studio quietly vacated this Chubbuck, Idaho, Walmart.

In 2004 GGP contracted out our jobs.  The contractor offered no benefits and cut my pay by $1.00 per hour, and also wanted me to become the official Night Shift Supervisor!  90% of the former J. Price employees were there because they needed the medical benefits, so GGP really screwed them over!  In 2006 I took a job with Idaho State University Stores, as a warehouse assistant.

In 2009 GGP went bankrupt.  Alameda Plaza was turned over to The Howard Hughes Corporation (a subsidiary of GGP).  In 2012 the City of Pocatello split Alameda Plaza into five zones.

Pocatello, Idaho, WinCo number 5. Getting ready to shut down in the Foothill Plaza.

After years wishing for a bigger WinCo in Pocatello, they finally made the move by taking over the old Fred Meyer Alameda Plaza location.  WinCo number 117 is at least three times bigger than the original WinCo number five, and twice as big as the old Fred Meyer building.

Abandonded Alberstons next door to the new WinCo-117.

Abandoned Alberstons next door to the new WinCo-117, in the Alameda Plaza.

The last Albertsons in Pocatello. Will Cerberus shut it down?

The last Albertsons in Pocatello. Will Cerberus shut it down?

As far as the Alameda Plaza Albertsons goes, they held on until about 2005 (they did not close down in the 1990s as some on the internet say).  Since 2006, Albertsons has been passed around to several new owners (despite the website making it look like it’s still owned by the Albertsons family):  A Minnesota based company called Supervalue, an affiliate of evil Cerberus Capital Management called AB Acquisition, and CVS.  Finally in January 2013 evil Cerberus Capital Management became sole owner (I wouldn’t be surprised if they liquidate).

sears chubbuck

The dying Sears at the Pine Ridge Mall in Chubbuck.

Over at the Pine Ridge Mall in Chubbuck, Sears is getting ready to close down.  Sears was originally located in the old Pocatello Mall.  In 1999 it was the last store to leave the Pocatello Mall, moving into the Pine Ridge Mall (if I remember correctly, the Pine Ridge Mall opened in 1982).

Vacant bedroom/bathroom section.

....no more women's and children's clothing.

No more women’s, men’s or children’s clothing.

My whole point is that to anyone just moving into the area, what you are witnessing is an economic decline, not growth.  Some newbies must be coming from areas of the country where the economy is worse, because they think things are good here.

The boom time was in the 1990s.  Everything started going down hill in 1999.  Even with a new Fred Meyer, expanded Walmart and now new WinCo the area’s net job ‘growth’ is zero, at the very most!

State economists were saying things were looking up, but that’s because they compare it from month to month or year to year.  If you look at what’s happened in Bannock County from the 1990s ’til now, it is economic decline.

Now the state economists are worried, because data shows that people are leaving the Gem State because they can’t find decent paying jobs.  At least 2-thousand 6-hundred people have left since December 2012.  A state economist, based in Pocatello, said he is concerned because it indicates no economic recovery for Idaho.

By the way, Idaho is a Right to Work You Over state.  I wonder if that’s part of the problem, or that Idaho taxes businesses for what are normally considered write-offs and deductions (called Personal Property Tax, which is in the process of being repealed, but local governments are threatening to raise local property taxes if it’s repealed, which’ll just drive off even more people)?

By the way, the dumb city of Pocatello almost lost Fred Meyer altogether.  Fred Meyer was gonna be charged all kinds of fees by the city to move into the abandoned Pocatello Mall location.  Fred Meyer countered by threatening to pull stakes and leave Pocatello, like so many other businesses.  The city backed off.

WHAT ECONOMIC RECOVERY? POCATELLO’S HOKU PULLS STOCKS FROM NASDAQ, DE-REGISTERS WITH SEC.

ObamaCare layoffs 2013, part 1: U.S. healthcare jobs recession proof? That’s a lie, here’s the evidence!

26 April 2013 (18:57 UTC-07 Tango 25 April 2013)/15 Jumada t-Tania 1434/06 Ordibehest 1391/17 Bing-Chen (3rd month) 4711

I got outraged today, when I heard the PBS Nightly Business Report anchor say (once again) that U.S. healthcare related jobs are recession proof.  That’s a lie!

The following are job losses, healthcare related company bankruptcies and shut downs that were publicized by regional media sources from 04 January 2013 to 25 February 2013, just under two months worth, read and weep:

The Visiting Nurse Association in Texas laid off 400 personnel! Company officials say they’ve been losing money at an accelerating pace for the past three years.  Last year they lost $2.46 million, and they blame it on changes to state and federal government funding.  (thank you Obama/Romney Care?)

Liberty Medical laid off at least 260 people in Florida! Liberty filed for bankruptcy protection after Federal Centers for Medicare and Medicaid Services began seizing their revenue.  Medicare/Medicaid says Liberty Medical has been ripping off the taxpayers.

California’s Accuracy radiotherapy devices maker is laying off 13% of its global workforce, mostly in the United States.  Company officials said they need to save $40 million USD per year.

Nonprofit Henry Lee Willis Center closed in February.  Massachusetts state taxpayer funding ended, 158 jobs lost.

Northview Senior Living Center in Johnstown, Ohio.  Zandex Health Care Corporation owns Johnstown’s only nursing home, and says it is closing due to ongoing legal battles with the zoning commission.  65 jobs lost.

Catholic Social Service Center at Holy Cross Church Campus in Springfield, Pennsylvania. Church officials say they are trying to cut costs by merging social service centers.

South Carolina Department of Health and Environmental Control to lay off 45 upper management employees.  DHEC officials said the layoffs could be offset by hiring 68 people, but at much lower pay.

Hospice of Siouxland, in Iowa, laid off 28 people.  They blame rule changes to taxpayer funding for Medicare and Medicaid (aka Obama/Romney Care).

In Las Vegas, Nevada, Saint Rose Dominican Hospitals laid off 100 people. Hospital officials blame reduced payments from Medicare, Medicaid and private insurance companies (Obama/Romney Care).

Just in time for the increase in crazy (False Flag) mass killings, nonprofit Columbia River Mental Health Services, in Washington state, laid off 16 employees. They blame lack of funding.

Cumberland Valley District Health Department, in Kentucky, laid off 14 people. They blame lack of funding.

The Orleans Community Health hospital, in Medina, New York, is laying off or cutting the hours of 25 people. Hospital officials blamed federal government cuts in Medicaid and Medicare (Obama/Romney Care).

Ohio‘s Lorain County Children Services to layoff 14 employees.  Blame lack of government funding.

Kinetic Concepts hospital bed factory being closed in San Antonio, Texas.  95 people out-o-work.  The move comes after the company was taken over by Swiss company Getinge Group. The new Swiss owners are moving production to Poland and China.

Zimmer Spine closing its Austin, Texas, operations. About 100 employees affected. Moving to Minnesota and Tennessee.

The nonprofit Delaware Hospice in Wilmington, Delaware, let go 52 employees. They blame a reduction in federal Medicaid and Medicare payments.

Planned Parenthood in Tusla, Oklahoma, closed after the State Department of Health terminated its WIC contract.

Israel based Teva Pharmaceuticals will lay off employees around the world. They have operations in New Jersey, and already canceled a $300 million project in Pennsylvania.

Faxton Saint Luke’s Healthcare, in New York, laid off ten employees and will not fill 27 vacant positions. They blame cuts to federal Medicaid and Medicare programs (Obama/Romney Care).

In the midst of viral outbreaks and epidemics, American Esoteric Laboratories laid off 65 people in Memphis, Tennessee. The company provides doctors and hospitals with lab services. Company officials said the layoffs are the result of a drastic change in how payments for lab services are being reimbursed (Obama/Romney Care).

Saint Louis, Missouri‘s, Express Scripts laid off 332 people across the U.S.!  This come after the country’s largest pharmacy benefits manager spent $29.1 billion USD to take over Medco.  103 former Medco employees have so far been let go as well!

The New Castle Youth Development Center closing in Ellwood City, Pennsylvania. 223 jobs lost!  Some officials say the center for troubled youths saw a huge decline in juveniles being housed there, with only 31 currently staying in the 100 bed facility (at one time there were 250 beds at the juvi jail).  State Representative, Jaret Gibbons, said it was all part of the governor’s conspiracy to close down publicly funded prisons, possibly to make way for private for profit prisons.

Windber Medical Center in Pennsylvania closing its obstetrician wing in March. Hospital officials said they’re having such a hard time finding replacements for the four obstetricians who’re leaving, that they just decided to close down the obstetrician wing!

Conifer Health Solutions closing its Alpharetta, Georgia, call center.  About 90 people out-o-work.  The Texas based health care revenue outsourcing company is consolidating operations with other call centers.

Despite North Dakota‘s booming oil industry, Sanford Health shut down its Underwood Continuing Care Center. It’s the result of last year’s merger between Sanford Health and Medcenter.  38 residents, and 62 employees affected!

Standard Insurance company to cut at least 100 jobs across the United States.  Basically the company is expecting to lose money this year, and is trying to stay ahead of the curve.

Brigham and Women’s Faulkner Hospital in Massachusetts closed down its detox unit. About 24 staff affected. Hospital officials say they’re changing the way they handle certain types of addictions, which will render the detox unit unnecessary.

Laurel Hill Healthcare closing its nursing home in Connecticut. It’s part of the growing nursing home closings due to parent company Spectrum Healthcare’s bankruptcy.

Fairview Clinics-Chaska, in Minnesota, closing down and moving to a new location.  They blame it on a drastic reduction in customers seeking health care.

Nonprofit Baltimore Behavioral Health goes bankrupt because of $5 million in debt.  However, in 2010 an investigative reporter discovered that the nonprofit was overcharging Medicaid, with the excess payments going to the family that controlled the mental health service (you see it’s not the people who need the help that’re ripping off social programs, it’s the service providers).  By the middle of 2012 all the family members were removed from the board of directors. Also, in 2011 Bank of America sued saying the clinic was not making the payments (default) on a $2.5 million worth of loans.  The result is that the people who need the help are not going to get it.

The maker of a new blood test that identifies anti-biotic resistant staph now bankrupt. Colorado’s MicroPhage claims to have too much debt, yet SEC filings show the company just made a deal with the biggest medical distributor in the country, to distribute its new staph test. Also, the filings revealed a $6 million investment from a single investor.

A controversial brain injury treatment center now bankrupt. The Florida Institute for Neurologic Rehabilitation is wracked with problems, from investigations over patient abuse (one claim says caregivers forced patients to fight each other, just like in those for profit corporate prisons) to tens of millions of U.S. dollars in unpaid debt.

Learning Ally, a non-profit that helps people with learning disabilities, ended its Charlottesville, Virginia, operation.  It’s one of eight learning centers they will close down. Company officials blame financial problems.

Med-Aid Pharmacy in Mission, Texas, is closed down. They blame changes in Medicaid reimbursements (Obama/Romney Care).

144 people were told they will be out-o-work at the Grand Rapids Home for VeteransMichigan state officials are trying to save $4 million dollars by switching to contracted work, and they claim quality of care will not go down.  That claim is disputed by a recent University of Michigan study.

Summa Health System laid off 54 employees in Ohio. They blame lower than expected revenue due to the Obama-Romney health care reforms!

In Minnesota, North Memorial Health Care laid off an undisclosed number of employees at the North Memorial Medical Center in Robbinsdale.  Officials blame decreased admissions and revenue.

The Calhoun County Hospital in Arlington, Georgia, laid off 29 staff. They blame the unstable financial situation of the hospital.

Glendale Memorial Hospital, in California, said they laid off employees because of the increased number of patients who can’t pay.

This comes after California’s Glendale Adventist Medical Center laid off 21 staff, blaming it on the Obama-Romney health care reforms!

In New York, health insurance company MVP Health Care laid off 68 employees. Company officials said it’s their way of addressing “administrative expense”.  Last year they laid off dozens of people, and forced dozens more into early retirement.

Medical records manager, Athenahealth, laid off 36 people in Birmingham, Alabama. No reason was made public.

In New York, Clifton Springs Hospital & Clinic laid off 58 people: “Like many hospitals across the State of New York, Clifton Springs Hospital & Clinic is preparing for the Affordable Care Act. [Obama/Romney Care]-Lewis Zulick, President & CEO of the hospital

In Fresno, California, Saint Agnes Medical Center laid off 75 employees. Hospital officials said it was necessary to stay within operating costs.

In Massachusetts, 12 people lost their jobs at the Holyoke Health Center. Hospital officials admit they no longer have the money to keep them employed: “The Health Center does not have the resources to maintain positions that are not covered by contracts, grants or third party reimbursements.”-Jay Brienes, Executive Director

In Gunter, Texas, Christian Care Centers is closing down their Hilltop Haven nursing home. It’s all about the money: “We were unable to find a sustainable financial model for Hilltop.”-Teresa Scott, senior vice president

In Massachusetts, Boston Scientific will layoff 1000 employees around the world!  This is on top of the 1400 planned layoffs announced in 2011.  Company officials blame the additional layoffs on new medical taxes coming into effect under the Obama/Romney health care reforms.

In Wisconsin, non-profit WPS Heath Insurance said they are laid off 451 employees! The company was founded in 1946.  Company officials said the layoffs are the result of the loss of Medicare and Tricare contracts (Obama/Romney Care).

Kaiser Permanente Hawaii laid off 47 nurses. They are being replaced with cheaper “practical nurses” and “assistants”.  So much for a high level of training, this is proof that corporations only care about how cheaply they can pay you, not how skilled you are!

New Hamshire’s Cheshire Medical Center/Dartmouth-Hitchcock Keene hospital eliminated 34 jobs. They’re trying to save $1 million USD, due to declining revenue and decreasing state and federal reimbursements (Obama/Romney Care).

More lay offs for Illinois.  Abbott Laboratories let go an undisclosed amount of employees.  The global health care company already laid off 700 people last year.  The company is “restructuring”.

Bridgeway Center, in Florida,  ended all inpatient services!  The health care provider blames ridiculously low state reimbursements. Company officials say it costs them $516.58 per bed to operate the facility, but the state pays only $293.24 per bed.  The result is that their Crisis Stabilization Unit is shorted $3573.44 every day!    The problem is that state legislators have not adjusted their payments since 1993!  Bridgeway Center says Florida ranks 49th for the number of low income people without insurance, and 49th for state funding of mental health care.

Ohio based supplier of drugs and medical supplies, Cardinal Health, to layoff  180 people by June!  Company officials say they are trying to anticipate future supply demands and price expectations of customers (meaning they think both will come down).

In California, biopharmaceutical company Amgen laid off 157 employees!  Last year the drugs company laid off 400 people! Company officials basically gave the same reason for the layoffs as Cardinal Health.

Pennsylvania based AmerisourceBergen closed down its New Jersey pharmaceutical distribution warehouse.  At least 72 people out-o-work.  Company officials refused to give a reason why.  The company did recently renew a contract with nursing home pharmacy PharMerica.  However, AmerisourceBergen is being investigated for possible kickbacks in several states, and facing a class action lawsuit by stockholders.

In Oakland, California, the Children’s Hospital & Research Center closed its Cytogenetics Laboratory.  They say the amount of work the lab did dropped by 69% in the past two years!

Also in California, San Diego Hospice now bankrupt. The largest hospice care provider in the Golden State owes millions in debt, and has been under a federal investigation for making fraudulent reimbursement claims for the past two years.

In Florida, Universal Health Care Group now bankrupt. Two of the company’s subdivisions are in receivership. Recently New Jersey based health insurer, Care Point, won an auction to take over Universal Health.  The $33.25 million USD take over bid must be approved by state regulators.  Universal Health Care has been accused of financial fraud by the Florida Insurance Commissioner, and even state regulators in Ohio and Georgia expressed concern over the company’s seemingly intentional financial mismanagement.  The company employes at least a thousand people across the country.

In Kentucky, the Knox County Hospital closing down its Long Term Care Facility.  Officials say it is losing more than one million dollars per year!

The maker of scooters and power chairs, The Scooter Store, cut production and laid of 150 employees! They laid off 220 people back in September 2012! Company officials blame new regulations in the Obama/Romney Care reforms.

In New York, the Sister Rene’ Dental Center shut down.  Operators blame the reduced federal reimbursements under Obama/Romney Care.  The overwhelming majority of their patients are on Medicare.

In Arizona, the Douglas Hospital bankrupt.  Federal court will decide who will take over operations.  Also, the Southeast Arizona Medical Center bankrupt. A new company will take over operations.  The old company was millions in debt.  Hospital officials say nothing will change regarding employees and hospital operations (famous last words).

In Ohio, the Aultman Hospital and Mercy Medical Center laying off employees and closing departments.  Company officials blame the Obama/Romney Care reforms.  Also, Akron General Medical Center warned 132 employees that layoffs are coming! Officials there blamed a combination of decreased revenues and Obama/Romney Care: “The external pressures being placed on us, and really all hospitals across the country, are extraordinary.“-Tim Stover, Akron General Health System

In Iowa, Keokuk Area Hospital laid off 24 people, blaming it on long term debts.

It’s been revealed that a major drug maker, Pfizer, has laid off more people than it officially announced two years ago.  It turns out that the pharmaceutical company laid off 250 more people at its Groton laboratories, than first stated!  Also, in San Diego, California, Pfizer shut down its CovX operation. 100 people out-o-work!  Basically Pfizer decided the CovX operation wasn’t worth it.

In Wisconsin, the Lutheran Social Services is closing seven of its care centers by the end of April! At least 44 employees will become unemployed.  Church officials said it was because they are not making enough money to support their operations.

In California, another hospital in trouble. Mendocino Coast District Hospital laid off 20 employees. The hospital went bankrupt last year.  Hospital officials say they’ve already lost $1.9 million for the first six months of the fiscal year!

In Washington, the Spokane Public Health Clinic closed down. District officials said they were short $275000 USD.

The Mayo Clinic closing its Healthy Living store in the Mall of America, in Minnesota.  They did not want to renew the lease.

In New York, Lakeside Hospital laying off at least 120 employees! The hospital is being restructured.

In Oregon, the Silverton Hospital laid off nine employees in their new cath lab: “People aren’t really using cath labs anymore because there are really good medications you can take, or insurance are now requiring that a patient take those medications prior to having a stent or going to the cath lab.”

In Maine, Franklin Memorial Hospital laid off 40 employees. They blame it on the fact the hospital is losing money.

Texas based Advanced Living Technologies bankrupt. The non-profit nursing facility operator is in big debt.

In Vermont, Grace Cottage Hospital laid off 15 employees. Hospital officials blame the Obama/Romney Care cuts in Medicaid/Medicare payments.

Corcoran District Hospital laid off 19 employees.  The hospital is losing money due to a huge drop in patients from the California State Prison Corcoran and Corcoran Substance Abuse Treatment Facility.

In Louisiana, the Allen Parish Hospital closing down its ER.  Officials say the hospital has been losing a lot of money in the past six months, because of a huge decline in people coming in for treatment.

Connecticut nursing home operator, HealthBridge Management, now bankrupt.  Company officials are hoping the bankruptcy will break the unionized employees, after the company lost a federal court case over labor laws violations.

In Pennsylvania, the Carlisle Regional Medical Center laid off an undisclosed amount of employees, including the director of marketing. Some reports say it has to do with a recent “serious event” (clinical care of a patient in a medical facility that results in death or compromises patient safety), which the Department of Health says the hospital failed to make the required notification to the state.  Two days after the announced layoffs the state Department of Labor and Industry said the hospital failed to file a WARN (Worker Adjustment and Retraining Notification).

McLaren Bay Region Hospital in Michigan, fired 35 Licensed Practical Nurses.  The hospital will replace them with Registered Nurses.

World War 3, Economic Front: U.S. job losses & store closings 25 February 2013.

Connecticut nursing home operator, HealthBridge Management, now bankrupt.  Company officials are hoping the bankruptcy will break the unionized employees, after the company lost a federal court case over labor laws violations.

In Pennsylvania, the Carlisle Regional Medical Center laid off an undisclosed amount of employees, including the director of marketing. Some reports say it has to do with a recent “serious event” (clinical care of a patient in a medical facility that results in death or compromises patient safety), which the Department of Health says the hospital failed to make the required notification to the state.  Two days after the announced layoffs the state Department of Labor and Industry said the hospital failed to file a WARN (Worker Adjustment and Retraining Notification).

McLaren Bay Region Hospital in Michigan, fired 35 Licensed Practical Nurses.  The hospital will replace them with Registered Nurses.  Visual effects company Pixomondo closed its Detroit, and London U.K., operations.  British media report the company failed to pay U.K. taxes.

In Florida, 126 people lost their jobs with STOPS Enterprises! The company provides medical transportation and administrative services. Some reports blame the Obama/Romney Care reforms.  Banah Sugar International Group now bankrupt, after promising local governments that it would hire 300 people.  It seems the owner’s past history as a drug dealer kept loans from coming through, even though he served his time for his crime.  Also, restaurant Philippe Chow Boca went bankrupt. The restaurant was sued last year.  They’ve already closed down most of their restaurants.  In Jacksonville Landing, the Body Central women’s clothing store shut down. Company owners said that location just “didn’t fit the model”.

In Missouri, Jump Oil Company went bankrupt.  Company officials said their wholesale fuel and oil sales have fallen to the point where they can’t pay their debts.

Ormet Corporation bankrupt.  They will sell off their aluminum factory in Hannibal, Ohio. They blame unionized employees.  The company has been laying off employees since 2012.

North Carolina real estate developer, Bunn-Brantley Enterprises, bankrupt.   The company merged with other real estate developers, and one of their attorneys said the merger made it easier to file bankruptcy.  Another real estate developer, Wake Partners, now bankrupt. Company officials say they’ve had no revenue since the end of 2011!  (what was that about a recovery in the real estate market?)

In Maryland, Flying Food Group laid off 68 employees. Company officials blamed it on the loss of their Starbucks contract.   Video game maker, Zynga, closed its Baltimore office.  Company officials are consolidating operations to Texas and New York.

After 75 years of operations the sewing and knitting store Windsor Button Shop is now out-o-business.  The owners could not afford to renew their lease in Boston, Massachusetts.

In New Hampshire, the Red and Gold convenience store closed down. The owner said he had to close it ASAP, but gave no reason why.

Mobile video company, Viddy, laid off 12 people. Company officials blame Facebook’s algorithm change for making it harder for users to find the Viddy app.

In Maine, the historic Jameson Tavern shut down: “The recession hit us hard. We’ve been struggling for a couple years now.”-John Stiles, owner

140 people lost their jobs with rail company Norfolk Southern, in Virginia! The company is ending its regional service in Roanoke.

Contech Castings in Indiana laid off more than 100 people!  A former employee said 130 lost their jobs!  The company is owed by Revstone Industries, which went bankrupt at the end of 2012. No company official would explain the layoffs. Contech makes parts for the automotive industry.  (what was that about the auto industry making a comeback?)  Fondue restaurant, The Melting Pot, closed in Greenwood. 25 people out-o-work.

In Washington, layoffs continue at the Port of Bremerton.  Five people lost their jobs, and company officials said they will not fill already vacant positions.  Company officials made confusing statements to the local media, saying the layoffs were simply a change in how they do business and that they weren’t trying to save money, yet they admitted the job reductions would save them nearly half a million dollars.

In Montana, the IGA grocery store on South Side State Avenue, in Billings, shut down.  The new owner blamed the bad economy: “I’m at a loss. The sales have been declining on the previous owners and continue to decline with me. So it’s time to get out while I can still pay my vendors and my employees.”-Shayne Meskimen

Too Big to Jail, Goldman Sachs, said they’re going to layoff even more employees.  There were no specifics on the amount of people to be unemployed, but analysts say it’s going to be bigger than usual round of Goldman Sachs layoffs.

The Footlocker in Lakewood Mall, California, out-o-business. It was closed with little notice, no ‘going out of business’ sale and no explanation. Local media tried calling the corporate office, but got no response.  The 40 years old Indian Store in Los Gatos closed.  The owners can not afford the new lease and are hoping someone will buy the store.

 

 

World War 3, U.S. Economic Front: Kmart closing in Missouri! Hey Sears, Illinois wants their money back!

23 April 2013 (22:25 UTC-07 Tango 22 April 2013)/12 Jumada t-Tania 1434/03 Ordibehest 1391/14 Bing-Chen (3rd month) 4711

On 17 April it was revealed that the High Ridge Kmart in Missouri will close by the end of June.  The lease was not renewed for the 30 years old store.  Officials with Sears Holdings also said the closing was part of their new “business model”.

In Illinois, the Chicago Regional Transportation Authority (RTA) is accusing several companies of running a scam.  AT&T, Verizon, Target and Sears Holdings are being accused of maintaining false corporate offices in order to avoid paying state and local taxes.  The offices are located in areas that allow large tax exemptions: “Whatever work they are doing is just enough to create a sham office in order for these sales transactions to be cited to these cities. In some places you have 20 companies procuring millions of dollars in goods from these offices where there is minimal staff doing minimal work.”-Jordan Matyas, RTA

Also, lawmakers in Illinois are finally realizing that Sears Holdings could’ve ripped them off!  State politicians from Calumet City are saying the tax deal given to Sears (including $100 million USD in tax benefits) did not stop the loss of the Sears store at the River Oaks Shopping Center, which resulted in 164 people losing their jobs.

“We want Sears to give the money back.”-Thaddeus Jones, state representative from Calumet City

“Calumet City supported Sears for decades, and now they’re walking away from us.”-Michelle Markiewicz Qualkinbush, mayor

We’ve all heard of Brand Loyalty, customers being loyal to their favorite brands, but what about brands being loyal to their customers?

Here’s the updated list of Sears/Kmart store closings since the end of 2011:

Arizona: Scottsdale Sears/Great Indoors, Chandler Sears/Great Indoors.

Alabama: Gadsden Kmart (50 jobs lost), Mobile Sears (at least 40 jobs lost), Auburn Kmart (at least 40 jobs lost), Anniston Kmart (no word yet on how many jobs lost).

California:   El Monte Sears (at least 40 jobs lost. Damien Arrula, El Monte’s economic development director, said the store manager had lied about what was going on: “The general manager of the store had just indicated to me that they were remodeling.”), two San Diego Sears (at least 80 jobs lost), Pleasant Hill Kmart (more than 50 jobs lost).

Colorado:  Broomfield Kmart (at least 40 jobs lost), Glenwood Springs Kmart (at least 40 jobs lost), Lone Tree Sears/Great Indoors, Longmont Sears (at least 40 jobs lost), Pueblos’ South Side Kmart (52 jobs lost),  Denver Kmart (number of jobs lost have not been made public at this time, but could be at least 40).

Georgia: Macon Sears (at least 40 jobs lost), Buford Kmart (at least 40 jobs lost), Douglasville Kmart (at least 40 jobs lost), Atlanta Kmart (at least 40 jobs lost), Columbus Kmart (at least 40 jobs lost), Jonesboro Kmart (at least 40 jobs lost), Cartersville Kmart (74 jobs lost).

Guam:  Sears Hometown Store.

Florida: Fernandina Beach Kmart (at least 40 jobs lost), Callaway Kmart (at least 40 jobs lost), Orange City Kmart (at least 40 jobs lost),  Deland Sears (at least 40 jobs lost), Stuart Sears (at least 40 jobs lost), West Palm Beach Sears (at least 40 jobs lost), Port St. Lucie Sears (at least 40 jobs lost), Crystal River Sears (at least 40 jobs lost), New Smyrna Beach Kmart (at least 40 jobs lost), Saint Augustine Kmart (at least 40 jobs lost), Pompano Beach Kmart (at least 40 jobs lost),  Jacksonville Kmart on 5751 Beach Boulevard (71 jobs lost), second Kmart in Jacksonville on 4645 Blanding Boulevard (83 jobs lost), Ocoee Sears (102 jobs lost), Pensacola Kmart on Airport Boulevard closed in 2011, Pensacola Kmart on Mobile Highway closed in February 2013 (69 jobs lost),  Pensacola Kmart on East 9 Mile Road will close in May (73 jobs lost), Hialeah Kmart (67 jobs lost), Bonita Springs Kmart (67 jobs lost), Mount Dora Kmart (100 jobs lost).

Hawaii: Honolulu Sears (owned by GGP, 372 jobs lost!!!).

Vacant bedroom/bathroom section.

One corner of the half vacant Chubbuck, Idaho, Sears. No official closing announcement was made.

Idaho: Lewiston Sears (at least 60 jobs lost).  No official announcement, but it’s painfully obvious the Chubbuck Sears going’ down.

Indiana:  Anderson Sears (at least 40 jobs lost), Saint John Kmart (at least 40 jobs lost), Indianapolis Kmart (at least 40 jobs lost).

Illinois:  Alton Sears (at least 40 jobs lost), Melrose Park Sears parts and repair center (50 jobs lost), Zion Kmart (at least 40 jobs lost), Oak Lawn Kmart (at least 40 jobs lost), McHenry Kmart (at least 40 jobs lost), Peru Kmart (at least 40 jobs lost), Lombard Sears/Great Indoors (at least 40 jobs lost), Fairview Heights Kmart (81 jobs lost), Freeport Kmart (45 jobs lost), Pontiac Kmart (more than 47 jobs lost), Homer Glen Kmart (82 jobs lost), Streator Kmart (45 jobs lost), Lombard Kmart (70 jobs lost).  Naperville Kmart (98 jobs lost), Calumet Sears (164 jobs lost). By the way, Illinois elected officials gave Sears Holdings/Hoffman Estates a $150 million USD tax break to keep their headquarters in the state.  The tax break was not tied to any promise not to close stores.

Iowa:  Cedar Rapids Kmart (at least 40 jobs lost), Davenport Kmart (at least 40 jobs lost), Burlington Kmart (50 jobs lost), Coralville Sears (94 jobs lost, this is a store sold to GGP earlier in the year).

Kansas: Lawrence Sears (at least 40 jobs lost).

Kentucky: Middlesboro Sears (in September 2012 the Sears store re-opened under independent ownership, official grand re-opening scheduled for November), Winchester Kmart (back in May, Rankin Paynter bought out what was left of the inventory and gave it to charity), Hazard Kmart (at least 40 jobs lost).

Maine: Lewiston Sears (60 to 70 jobs lost).

Maryland: Ellicott Sears (at least 40 jobs lost), Gaithersburg Sears/Great Indoors.

Michigan: Novi Sears/Great Indoors, Brighton Sears Grand/Essentials,  Harper Woods Sears Full line, Monroe Sears Full line, Adrian Sears Full line, Washington Township Kmart, Chesterfield Kmart, Woodhaven Kmart, Flint Kmart (46 jobs lost), Gaylord Kmart (48 jobs lost).

Minnesota: Willmar Kmart, Duluth Kmart, New Hope Kmart, White Bear Lake Kmart, Bemidji Kmart.

Mississippi: Jackson Sears Full line, McComb Sears Full line, Columbus Sears Full line.

Missouri: Lee’s Summit Sears Grand/Essentials, Saint Louis Sears Full line, recently revealed High Ridge Kmart (59 jobs lost).

Montana: Missoula Kmart (50 jobs lost).

New Hampshire: Nashau Sears Grand/Essentials, Keene Sears Grand/Essentials.

North Carolina: High Point Sears, Moorehead Sears, Rocky Mount Sears, Statesville Sears, Durham Kmart (79 jobs lost), Asheville Kmart (53 jobs lost),  West Smithfield Kmart (59 jobs lost), Winston-Salem Kmart (69 jobs lost), Hendersonville Kmart (58 jobs lost).

New Jersey:  Lawnside Kmart (about 80 jobs lost).

New Mexico: Las Cruces Kmart (58 jobs lost).

New York: Depew Kmart (68 jobs lost).

Ohio: Chagrin Falls Kmart, Springfield Kmart, two Toledo Kmarts, Medina Kmart, Columbus Kmart, Columbus Sears/Great Indoors, Zanesville Sears (67 jobs lost), Trotwood Kmart (71 jobs lost).   Also, Van Wert Sears franchise bought out by Kirk Berryman, owner of Computer & Networking Technologies (CNT), who plans on moving the store to a new location.

Oklahoma: Oklahoma City Sears (98 jobs lost, GGP owned, GGP wants a $2 million sales tax rebate, claiming it’s needed to offset capital investments needed to bring the space up to the standards for potential new tenants).

Oregon: Roseburg Sears (at least 40 jobs lost), Tualatin Kmart Center (new property owner from California is tearing everything down for new shopping center, so far no indication the Kmart will be part of the new shopping center), Milwaukie Kmart (61 jobs lost).

Pennsylvania: Upper Darby Sears Full line, Pottstown Sears Full line, Pittsburgh Kmart, Wilkins Sears, Warminster Kmart (85 jobs lost), Shippensburg Kmart (46 jobs lost).

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (57 jobs lost), Columbia Kmart on Fort Jackson Boulevard in 2012, Columbia Kmart on Bush River Road in 2009, Columbia Kmart on St Andrews Road (66 jobs lost), Irmo Kmart (no info on how many jobs lost),  both Greenville Kmarts (140 jobs lost between the two).

Tennessee: Antioch Sears (at least 40 jobs lost), Cleveland Sears (at least 40 jobs lost), Oak Ridge Sears (at least 40 jobs lost), Hendersonville Kmart (at least 40 jobs lost), Morristown Sears (about 70 jobs lost), Clinton South Kmart.

Texas: Two Sears parts and repair centers closing in The Woodlands (117 jobs lost), rebuild center in Garland (58 jobs lost), Farmers Branch Sears/Great Indoors, Houston Sears Great/Indoors.

Virginia: Norfolk Sears (at least 40 jobs lost),  Midlothian Kmart (at least 40 jobs lost), Richmond Kmart (at least 40 jobs lost), Lynchburg Sears (84 jobs lost), Fairfax Kmart (no word on how many jobs lost).

Washington: Walla Walla Sears Full line (in August 2012, it was reported that an independent owner of Sears Hometown stores will open a store in Walla Walla), Lacey Kmart (at least 40 jobs lost), Kelso Sears (47 jobs lost), Lakewood Kmart (59 jobs lost), Bellingham Sears (92 jobs lost),  Seattle Kmart (85 jobs lost).

West Virginia: Oak Hill Kmart (59 jobs lost).

Wisconsin: West Baraboo Sears (at least 40 jobs lost, local village officials say the store generated 3% of local tax collections), Rice Lake Kmart (about 71 jobs lost).

On top of that, Sears Holdings sold stores to General Growth Properties (GGP), of which it has been reported that most of those stores will be closed.

Here’s the list of 11 Sears stores now owned by GGP:

Iowa: Coral Ridge Mall (it’s official the Sears is closing, see above), and Mall of the Bluffs

Texas: The Woodlands Mall (this does not involve the two repair centers being closed by Sears)

Florida: West Oaks Mall

Utah: Fashion Place, and Provo Towne Centre (note the evil British empire way of spelling town & center. Due to a favorable lease agreement the GGP owned Provo Sears will continue to stay open under Sears Holdings management)

Oklahoma: Quail Springs Mall (it’s official, the Sears will be closed, see above)

Hawaii: Ala Moana Center (will be closed, see above)

Washington: Bellis Fair Mall (Bellingham store, see above)

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

World War 3, East Asian Front: North Korea is worth $9.7 trillion USD!!! Now you know why The U.S. is war mongering over the DPRK!

23 April 2013 (21:14 UTC-07 Tango 22 April 2013)/12 Jumada t-Tania 1434/03 Ordibehest 1391/14 Bing-Chen (3rd month) 4711

“In my analysis North Korea could survive for the next hundred years just by exporting their underground resources….”-Yang Moo-jin, University for North Korean Studies

In August 2012, the South Korean based think tank,  North Korea Resource Institute, estimated that the DPRK is worth almost as much as $10 trillion USD, because of what lies underground.  This estimate is $4 trillion higher than the estimate given by Korea Resources Corporation back in 2010.

The estimate has gone way up because prices for mineral resources (like gold) have gone up.  Put in another way, North Korea is worth 21 times what South Korea is worth, mineral resource wise.

According to a 2011 article by EastAsiaForum, the Democratic People’s Republic of Korea has some of the World’s largest deposits of coal, iron ore, magnesite, gold ore, zinc ore, copper ore, limestone, molybdenite, and graphite.

Recently I heard that North Korea is third in the world for rare earth minerals (China is first and South Korea is second), you know, that stuff in the dirt that’s become worth a lot of money because it’s used in all you all’s cell phones.

China has invested big time in helping North Korea develop its mining industry, which would seem to dictate that China continue backing up North Korea against the United States.

The reason why North Korea is so poor is because of decades of U.S. led economic sanctions.  Those sanctions are part of the reasons why the DPRK’s mining industry operates at only 30% capacity.

So all that rhetoric from the U.S., Republic of Korea and Japan about not allowing North Korea be a nuclear power is just False Flag bullshit!  As usual it’s about controlling natural resources.

 

 

 

 

World War 3, Economic Front: 1400 people leave the Gem State in March!

20 April 2013 (23:42 UTC-07 Tango 19 April 2013)/09 Jumada t-Tania 1434/31 Farvardin 1391/11 Bing-Chen (3rd month) 4711

According to the U.S. state of Idaho’s Department of Labor (IDoL), 1400 people moved out of the Gem State in March.  This is an indication of the frustration Idahoans have with finding a job in the Right to Work You Over state.

“Another 1,400 people left Idaho’s labor force in March, the largest one-month exodus since the heart of the recession three years ago and the third straight monthly decline. Over 2,600 people have dropped out of Idaho’s labor force since December 2012….erasing any gains made since January 2012…..”-IDoL statement

A state economist based in Pocatello, said he was concerned that because so many people have officially dropped out of the workforce that what was happening is they are actually leaving the state.  He said that would indicate no economic recovery for Idaho.

It’s strange because officials with state Labor Department insist that companies doing business in Idaho keep complaining that they’re having a hard time finding employees.   Maybe what they mean is they can’t find people willing to work for little pay and no health benefits?

According to the U.S. Census Bureau, the geographically large state of Idaho has a population of only a million and a half people.  Compare that to the city of Los Angeles, California, which has a population of nearly 4 million!

According to the IDoL, the number of employed people in Idaho is currently 724500 (seasonally adjusted data).

So you can see that having 2600 people leave the state since December 2012 has a significant impact on Idaho.

World War 3, North American Front: West, Texas, False Flag? Factory fire could not have spontaneously started?

19 April 2013 (19:26 UTC-07 Tango 18 April 2013)/08 Jumada t-Tania 1434/30 Farvardin 1391/10 Bing-Chen (3rd month) 4711

The Texas Commercial Fertilizer Control Act requires fertilizer factories to store various chemicals and other ingredients separately, and in a way to prevent fires.

A CBS affiliate in Dallas talked to the owner of the factory that exploded in West.  He stated that the plant was shut down for the night and all employees were “off duty”, in other words, nobody was supposed to be there.

The same CBS affiliate also talked to other fertilizer factory owners throughout Texas, and they told the reporter that the only way such a big fire and explosion could happen is that certain ingredients come into contact with each other, which is exactly what the Texas Commercial Fertilizer Control Act intends to prevent.

There needs to be the right combo of ammonia nitrate, oxygen and a fuel.  That fuel could be diesel or even water.   If large amounts of ammonium nitrate powder, or fumes, get airborne (meaning it mixes with oxygen) you get the ingredients for a fuel air bomb (this actually used to happen a lot in grain silos, before they figured out what was going on, that’s where the idea for fuel air bombs came from).   It was suggested the attempts by the first responders to put out the fire with water, actually made it worse.  It’s possible the first responders thought it was a simple fire.

So something happened to cause the creation of a fuel air bomb situation at the West, Texas fertilizer plant.   CBS Dallas reporter, Ginger Allen, said she found emails within the fertilizer industry, warning members to increase security and reassess their crisis plans.

H7N9 update: 87 cases, all wild poultry businesses shut down!

18 April 2013 (17:50 UTC-07 Tango)/07 Jumada t-Tania 1434/29 Farvardin 1391/09 Bing-Chen (3rd month) 4711

Since my last update, five more case reported; one in Jiangsu Province and one in Henan Province, two in Zhejiang Province and one more in Shanghai.

The Chinese government has banned all live wild poultry markets throughout China.

World War 3, Economic Front: Credit Card companies shutting down mom & pops with outrageous fees!

17 April 2013 (10:20 UTC-07 Tango)/06 Jumada t-Tania 1434/28 Farvardin 1391/08 Bing-Chen (3rd month) 4711

Recently I was told by a Spanish small business owner I know, that he had to stop taking credit card payments because of a huge increases in fees being charged to small businesses.

He said the outrageous fee hikes involve VISA, MasterCard and American Express.  Turns out that MasterCard is actually being investigated for violating the European Union’s anti-trust laws.

According to EU investigators, MasterCard has jacked up fees on purchases involving cardholders living outside the EU.  Here in the U.S. credit card companies already charge cardholders extra fees for making purchases outside the United States, so it seems they’re now charging business owners in Europe extra fees for international sales as well.

MasterCard officials blamed banks for issuing cards with higher fee rates, but then said “….MasterCard always aims to balance the interests of both consumers and retailers to ensure that each party pays its fair share of the costs…”

You mean those outrageous interest rates aren’t enough to cover your costs, MasterCard?   “Fair share” my ass!

MasterCard also said the higher fees were the only way the company could remain “viable”.

VISA is also being investigated.  VISA is the biggest credit card scammer, I mean credit card service provider in the EU.  It too has created outrageous ‘cross-border’ purchaser/seller fees.

What those dumb ass highly educated credit card corporate officials don’t realize is the net effect of continuing to create new fees, and jack up existing fees and interest rates, is that it will greatly reduce credit card use, which could render them inviable.

 

 

World War 3, Economic Front: China returns to buying U.S. bonds!

17 April 2013 (09:52 UTC-07 Tango)/06 Jumada t-Tania 1434/28 Farvardin 1391/08 Bing-Chen (3rd month) 4711

China has increased its holdings of U.S. Treasury bonds (aka U.S. government debt).  Last year at this same time China held $1.16 trillion USD of U.S. bonds, now it’s at $1.22 trillion.

According to the U.S. Treasury, the $9.16 billion increase took place in February.  Apparently China still thinks the U.S. is good for the money.