Category Archives: Business/Economics

Business/Economics, Idaho, U.S.

World War 3, Gun Control/U.S. Civil War: Connecticut gun maker looking for new home. Idaho wants you, PTR!

11 April 2013 (10:53 UTC-07 Tango)/30 Jumada l-Ula 1434/22 Farvardin 1391/02 Bing-Chen (3rd month) 4711

The Connecticut based gun maker, PTR (which makes Heckler & Koch clones), is looking for a new home, now that the so called Constitution State has passed new anti-gun laws.

“….On Thursday April 4th 2013, upon reading the full text of Bill 1160, our worst fears were confirmed. What emerged was a bill fraught with ambiguous definitions, insufficient considerations for the trade, conflicting mandates, and disastrous consequences for the fundamental rights of the people of CT……..It should be a shock to us all that such landmark legislation could be written in one week, and seen by no one (including the rank-and-file legislators) prior to its emergency certification. Having been present in the deliberations in both legislative chambers, it was clear that a majority of our legislators had not even read the bill……With a heavy heart but a clear mind, we have been forced to decide that our business can no longer survive in Connecticut – the former Constitution state…….We are making a call to all involved in our industry to leave this state, close your doors and show our politicians the true consequences of their hasty and uninformed actions. We encourage those in our industry to abandon this state as its leaders have abandoned the proud heritage that forged our freedom…….over the coming weeks the company will be actively considering offers from states that are friendly to the industry.”

Come to Idaho, PTR!  In 2010 the state passed the Idaho Firearms Freedom Act, aka; made in Idaho gun law.

I posted about it back in 2011.  The law supposedly gives breaks to gun makers who move to Idaho.   Several western states have passed their own Firearms Freedom Acts.

Business/Economics, International, U.S.

H7N9 update: 38 cases, 10 deaths! KFC sales crashing!

11 April 2013 (09:17 UTC-07 Tango)/30 Jumada l-Ula 1434/22 Farvardin 1391/02 Bing-Chen (3rd month) 4711

China’s National Health and Family Planning Commission reports five new cases and one death in the H7N9 outbreak.  Two new cases in Jiangsu Province, and three new cases, including the death, in Shanghai.

The 74 years old man that died was confirmed to have H7N9 Wednesday night, but died today.  As with other H7N9 cases, he had been admitted to a hospital with pneumonia.

Chinese health officials say, so far none of the relatives of the sick people are showing any signs H7N9 infection.

Yum Brands, the company that owns KFC, Pizza Hut and Taco Bell, say sales at their Chinese KFC restaurants are crashing. They blame the H7N9 bird flu for scaring customers off from eating chicken.  Sales at Chinese KFCs dropped 16% in March.

However, there is a problem with their blame game for crashing sales: The H7N9 bird flu scare didn’t start until the end of March.  Yum Brands own records show their restaurants in China have been losing sales since January.  In January and February they saw a 20% drop in sales.

Business/Economics, International, U.S.

World War 3, Economic Front: IMF admits bailouts & austerity not working!

11 April 2013 (23:05 UTC-07 Tango 10 April 2013)/30 Jumada l-Ula 1434/22 Farvardin 1391/02 Bing-Chen (3rd month) 4711

“….we do not expect global growth to be much higher this year than last. We are seeing new risks as well as old risks. In far too many countries, improvements in financial markets have not translated into improvements in the real economy, and in the lives of people.”-Christine Lagarde, International Monetary Fund

At a meeting of the Economic Club of New York, Lagarde divided up the World into three ‘speeds’ of recovery.

Emerging economies are recovering fastest: First Speed.

The United States is in the Second Speed category, but Lagarde warns “…an outstanding issue is that public finances appear unbalanced. Adjustment is too aggressive in the short term, and too timid in the medium term. This adds to uncertainty and casts a shadow on the recovery.”

Apparently Europe and Japan are in the worst Third Speed category.  It is interesting to note that the IMF is behind many of the European bailouts and austerity measures.

 

 

 

 

Business/Economics, International, U.S.

World War 3, Economic Front: California makes deal with China!

10 April 2013 (15:00 UTC-07 Tango)/29 Jumada l-Ula 1434/21 Farvardin 1391/01 Bing-Chen (3rd month) 4711

“California could get new investment worth hundreds of billions of U.S. dollars from China by the end of 2020.”-Wang Chao, China’s Vice-Minister of Commerce

The city of Shanghai, and the provinces of Jiangsu, Shandong, Guangdong and Chongqing have signed a $1.4 billion USD trade deal with the U.S. state of California.

It’s the biggest trade deal with any U.S. state.  It involves more than 70 California companies and at least 100 Chinese entrepreneurs.

 

Business/Economics, International

World War 3, East Asian Front: South Korean TV broadcaster knocked off the internet!

10 April 2013 (14:40 UTC-07 Tango)/29 Jumada l-Ula 1434/21 Farvardin 1391/01 Bing-Chen (3rd month) 4711

ROK TV broadcaster, KBS, reporting that their website went offline, three times today. They do not know why.

Business/Economics, International

World War 3, East Asian Front: South Korean bank paralized!

10 April 2013 (14:35 UTC-07 Tango)/29 Jumada l-Ula 1434/21 Farvardin 1391/01 Bing-Chen (3rd month) 4711

The ROK bank, NongHyup Bank, reporting that its internet banking service is paralyzed.  They do not know why.  Technicians are working at their operating system location in Anseong, they hope to have it solved before tomorrow.

Business/Economics, U.S.

World War 3, Economic Front: U.S. job losses & store closings 22 February 2013.

Hawaii’s Schofield Barracks furloughs 100 shipyard workers, pending federal government budget cuts. Also, the Pearl Harbor shipyard threatening to layoff 350 employees!

12 firefighters in Lorain, Ohio, now unemployed.  City officials blamed the expiration of a federal grant.

Giant City School District, in Illinois,  laid off 14 employees. School officials blame massive state funding cuts.  And after 30 years, Chiasso furniture store closed down in Chicago.  The owner blamed the bad economy.  Also, Chicago Public Schools wants to close two charter high schools. School officials say their budget is short $1 billion USD!

In New Hampshire, cable company MetroCast laid off 16 employees. The company will outsource (contract out) its installer positions, in an effort to make bigger profits.  And Hubbingtons Furniture closed their Hampton store. Operators blamed the property manager for making it not worth renewing the lease.

In Tennessee, Lincoln Memorial University refused to renew contracts for 13 teachers.  School officials blame declining graduate student enrollment.

In Plano, Texas, J.C. Penny laid off 300 more employees!  More layoffs are expected. Company officials refused to talk to local media.

In California, Abbott Vascular laid off another 450 employees! The cardiac and vascular care product maker laid off workers at their Temecula factory, and their French Valley distribution center. In 2012 they laid off almost 500 employees.  Company officials will only say they are trying to make the company more efficient. Also, the Fresno County Assessor’s office lays off 14 people, due to lack of funds.  In Mill Valley/Strawberry, the Ethan Allen furniture store closed down.

In North Carolina, recumbent bike retailer, Neighborhood Transportation, closed down.  The owner blamed health reasons.

After 23 years, Bonnie’s Place restaurant closed down in Michigan. The owners blame road/bridge construction for destroying 90% of their business.

In New York, the Wappingers Central School District says they must close down an elementary school.  School officials blame declining enrollment.

In Georgia, the Unity Elementary School in LaGrange could close. School officials say they need to save $4 million!

In Pennsylvania, Caterpillar tractors could close its York Distribution Center in Springettsbury Township.  250 employees would be affected!

Wausau Paper closing their Brainerd, Minnesota, factory. 130 employees affected! Company officials say the toilet paper competition is fierce.

Supermarket Marsh closing stores in Columbus and Marion, Indiana.  Company officials don’t want to renew the leases.

In Virginia, Weiman’s Bakery closed down in Richmond, with little notice.  The bakery supplied many restaurants, and many were left scrambling to find a new source of bread.  Local media said no reason was given for the closing.

Bay Hills Card and Gift Hallmark store closed in Maryland.  The owner opened the store in 1987, he says the bad economy did him in.

In Helena, Montana, Pet Town closed down after 30 years of operations. Local media said regular customers cried as animals in the store were shipped off.  The owner blamed the bad economy: “The last four years were just brutal!”-Dana Coil

Business/Economics, International

H7N9 update: 8 dead, 28 infected! Competition to make a new vaccine threatens co-operation!

09 April 2013 (14:20 UTC-07 Tango)/28 Jumada l-Ula 1434/20 Farvardin 1391/29 Yi-Mao (2nd month) 4711

An 83 years old man in Jiangsu Province died.  Two people in Shanghai and two in Zhejiang province confirmed to have H7N9 infection.  This brings the cases to 28 in the past couple of weeks.

Citing time constraints, Taiwan’s Deputy Health Minister, Lin Tzou-yien, says his country will not co-operate with mainland China in developing a vaccine.  Could this be a capitalist maneuver because of concerns over patent rights?

Here’s how China responded: China’s State Food and Drug Administration is warning medical personnel and local health departments to inspect protective apparel, respirators, anesthesia machines and diagnostic reagents, among other equipment. Chinese officials want to make sure those products have officially-approved labels and manuals.   Also, the Chinese FDA is warning that prosecutions could take place for those who do not follow proper product registration laws in regards to H7N9 research.

The UN World health Organization says that , so far, H7N9 is not showing up in pigs.

 

Business/Economics, Idaho, U.S.

World War 3, Economic Front: List of U.S. job losses & store closings for 21 February 2013. More health care layoffs! More video game makers make cuts! No more Rold Gold? More cuts to education! California still getting hit!

Texas based Advanced Living Technologies bankrupt. The non-profit nursing facility operator is in big debt.  Also, Dell computers announced undisclosed number of layoffs at their Round Rock, Texas, HQ.  An unnamed employee told local media at least 90 people were let go.

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

Knott County, Kentucky, says they have to layoff 10 to 12 employees. County officials are blaming the Spotsplex, which is costing taxpayers $400000 USD per year.

In Florida, government contractor Predator Systems being closed down by new owners Curtiss-Wright.  20 people already laid off, another 25 will be let go by the end of the year.

In Louisiana, Libbey Glass laying off 200 people!   The company decided to end production of specific glassware, and move other production to Ohio and Mexico.

Video game maker, EA, announced an undisclosed amount of layoffs, to affect operations in California, Canada and “smaller locations”.

Another video gamer maker, IGN, also announced an undisclosed amount of layoffs.

Denmark based Vestas laid off at least 100 people working at their Colorado factories. The wind turbine maker blamed it on changes to federal tax codes.

BioFuel Energy laying off 40 people at its ethanol plant in Minnesota.  They actually stopped ethanol production at that specific plant in September 2012, but hope to re-start by the end of the year.

Grocery store, Giant Eagle, cut 75 jobs, mainly at their Pennsylvania HQ.  The privately held company is trying to reduce operating costs.  And after 35 years, Sneaky Pete’s closed in Ardmore.  The owner said the signs of the economic times indicated it was time to retire.

General Electric announced they are planning even more layoffs, and the sale of what’s left of their share of NBCUniversal.

In Canton, Ohio, Frito-Lay laid of 12 employees, and cut the hours for 15 other employees, at their Rold Gold Pretzel factory.  Reports say pretzel sales are crashing.

In Michigan, 840 people were told to get ready to look for new jobs! The Journal Register, which publishes newspapers in ten states, is about to be sold off on 17 April (to evil 21st CMH Acquisition). In Plymouth, Isabelle’s Copper Pot shut down.

In New York, Spotlight Newspapers ended two county editions. The publisher blamed increasing small business regulations.  And bus company Canal Escort no longer exists after a strike by employees.  Nearly 100 people out-o-work!  Company officials claim they lost their Department of Education contract because of the strike. One official was rather rude to the former employees: “This union thinks they can tell me what to do? They can go f-ck themselves!”-Joseph Fazzia

Grayslake Elementary District 46, in Illinois, to layoff 17 employees.  Officials say the district is short $2.2 million!

In California, Oroville City Elementary School District laying off six people. Blames declining enrollment and funding. In Westlake Village, Safeguard Properties closing its office and laying off 82 employees. Safeguard is also laying off 168 employees in San Bernardino. The company blames the layoffs on their takeover of some Bank of America operations. In Paso Robles the Wilson’s restaurant closed down. It first opened in 1948, and the owners want to retire.   And the Hollywood Park Casino might be closing in Inglewood (pending a decision by state officials).  600 employees affected!  In Nevada City, the Trolley Junction Restaurant closed down, 20 employees let go.

Indiana’s Cequent Performance Products factory, in Goshen, moving to Mexico. 350 employees affected!

In Oregon, the Jackson County Sheriff’s Department laid off 66 people.  Reports say its because of contract disputes.  And all five Old Farmhouse restaurants closed down. The owner blames himself for trying to expand his operation too fast on too little money.

Wholesale Sports closed stores in Spokane, Washington, and Coeur d’Alene, Idaho.  75 people out-o-work.  Blame it on California based real estate investment company Alamo Group.

In Virginia, Reston shoe store, Footsteps, closed down. The owner blamed it one the high rent.  He said if could find a more affordable location he will go back in business. And the Hoppy Dog gourmet food store in Richmond closed.  The owners said they wanted to pursue other interests.

Mexican-Italian restaurant, Chisme, closed down in Valley Junction, Iowa.  The owner simply said “everything happens for a reason.” And Planned Parenthood said they were closing two Iowa clinics, no reason given.

In Tennessee, the Archiver’s scrapbook store out-o-business. Reports say it was the last scrapbook store in Memphis.

Hilton is closing their Paradise Landing indoor waterpark in Wisconsin.  Hilton officials say they want something more upscale, but haven’t come up with anything so far.

Business/Economics, International, U.S.

World War 3, East Asian Front: North Korean KIR statement!

The Korean Peninsula has been put in the state of war due to the serious anti-DPRK moves of the U.S. and south Korean authorities and their moves for a nuclear war.

Not content with escalating military tension together with the U.S., the south Korean conservatives, in particular, are running the whole gamut of intrigues to find a pretext for igniting a war against the DPRK after reducing the Kaesong Industrial Zone to a theatre of confrontation.

Defying the repeated warnings of the DPRK, the south Korean confrontation maniacs are letting loose a string of invectives hurting the dignity of the DPRK, talking about “source of money”, “detention” and “hostages”. South Korean Defense Minister Kim Kwan Jin revealed his sinister intention to introduce a special unit of the U.S. forces into the zone, vociferating about an operation for “rescuing hostages”.

This goes to prove that the south Korean warmongers seek to turn the zone into a hotbed of war against the DPRK.

By origin, the zone was built as a symbol of reconciliation, cooperation and reunification after the DPRK granted a privilege to Jong Ju Yong, honorary chairman of Hyundai Group of south Korea, valuing his patriotic will for reunification.

The DPRK’s offer to south Korean enterprises a vast area near the Military Demarcation Line where armed forces of the north and the south are standing in acute confrontation was a bold decision based on ardent love for the nation and compatriotism and a manifestation of the firm will for independent reunification, peace and prosperity based on the spirit of “By our nation itself” clarified in the historic June 15 North-South Joint Declaration.

When traitor Lee Myung Bak did serious harm to the inter-Korean relations in all aspects, getting hell-bent on confrontation after coming to power, the zone remained unaffected by it thanks to the desire and will of all Koreans in the north and the south for reunification and kept its operations for common prosperity.

But the zone is now in the grip of a serious crisis.

The zone, a product of the June 15 joint declaration, has been reduced to a theater of confrontation with fellow countrymen and military provocation, quite contrary to its original nature and mission due to such hideous confrontation maniacs as Kim Kwan Jin. This situation can no longer be tolerated.

The south Korean conservative forces claim that the DPRK will never give up the zone as it benefits from the industrial zone, but it gets few economic benefits from the zone while the south side largely benefits from it.

The DPRK provided an area of military strategic importance to the south side, in particular. This meant a big concession.

It is a tragedy that the industrial zone which should serve purposes of national reconciliation, unity, peace and reunification has been reduced to a theatre of confrontation between compatriots and war against the north. The existence of such zone is no better than nothing.

The DPRK is compelled to make an important decision related to the issue of the industrial zone now that the south Korean authorities abuse the generosity and compatriotism of the DPRK for their hostile purpose.

Upon authorization, I declare the following important steps as regards the crisis in the Kaesong Industrial Zone:

1. The DPRK will withdraw all its employees from the zone.

2. It will temporarily suspend the operations in the zone and examine the issue of whether it will allow its existence or close it as the south Korean authorities and military warmongers seek to turn it into a hotbed of confrontation between compatriots and war against the DPRK, hurting its dignity.

The General Bureau for Central Guidance to the Development of the Special Zone will be responsible for the working matters related to the important steps including the withdrawal of the employees and the temporary suspension of the operations in the zone.

How the situation will develop in the days ahead will entirely depend on the attitude of the south Korean authorities.
Kim Yang Gon, secretary of the Central Committee of the Workers’ Party of Korea