Category Archives: Business/Economics

Business/Economics, International

Nursing shortage continues for Japan, only 30 applicants pass new certification test!

26 March 2013/14 Jumada l-Ula 1434/06 Farvardin 1391/15 Yi-Mao (2nd month) 4711

Japan is so desperate for nurses that they’ve eased up on testing requirements for foreign applicants, yet only 9.5% passed the latest exam.

Last year officials said they were making this year’s test easier regarding Japanese language skills, and they were adding 30 minutes to the test.  Obviously it’s not enough.

Officials say those who failed, but reached a certain score will be allowed to stay in Japan one more year to help prepare for their next exam.

Even some Japanese wanna-be nurses have trouble with the certification.  This year 88.8% of Japanese who took the test passed.

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

Government Incompetence & World War 3: Now South Korea accuses one of its own for cyber attacks!

25 March 2013/13 Jumada l-Ula 1434/05 Farvardin 1391/14 Yi-Mao (2nd month) 4711

“We traced some IP addresses found on MBC and YTN computer networks to overseas sources like the U.S. and a few European countries. We’re still trying to find out who is behind the attacks on the other institutions.”-Korean [South] Communications Commission

Republic of Korea’s (ROK) National Police Agency (NPA) now blaming one of their own corporations for part of the massive cyber attack last week!

In a cyber attack originally blamed on China and Democratic People’s Republic of Korea, the NPA now says what they thought was a Chinese IP address is actually the IP address of a single employee with the South Korean corporation Nonghyup.

Other attacks have been traced to European and U.S. IP addresses.  However, NPA officials are still claiming the attacks were originally launched from North Korea, although it’s pure speculation because they admit they have no proof at this point.

Business/Economics, International

What Economic Recovery? New Cyprus bailout equals 40% tax on bank accounts! Russia calling European Union a bunch of thieves, yet happy about it? More reason to get your money out of the banks!

25 March 2013/13 Jumada l-Ula 1434/05 Farvardin 1391/14 Yi-Mao (2nd month) 4711

“The stealing of what has already been stolen continues…”-Dmitry Medvedev, Russian Prime Minister

Medvedev is referring to the latest bailout offer for Cyprus from the European Central Bank and International Monetary Fund, in a round-a-bout way saying the whole thing was a done deal from the beginning.

The previous offer, which was rejected by parliament, included up to 10% tax on bank accounts. This new one imposes up to 40% tax on accounts with $100000 or more, and does not require parliamentary approval!!!

Most of the big money depositors in Cyprus are foreigners, and they’re going to pullout all their money.  Guess where many of those depositors are going to put their money now?  In Russian banks!

That’s the real reason Russia didn’t really try to give Cyprus a bailout, and why Russia isn’t really that upset about Cypriot bank accounts being robbed by the ECB and IMF (despite what Western media analysts say).

The result of the foreign depositors pulling out their money, and the harsh austerity caused by the bailout (such as the 2nd largest bank of Cyprus will be shut down under the deal), will be the economic destruction of Cyprus (and the take over of the island county’s stake in the huge Leviathan petroleum field).

 

 

 

 

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

World War 3: South Korea changes tune on recent cyber attacks. Now blaming United States!

25 March 2013/13 Jumada l-Ula 1434/05 Farvardin 1391/14 Yi-Mao (2nd month) 4711

A few days ago the Republic of Korea’s (ROK) National Police Agency (NPA) blamed a crippling cyber attack on the Democratic People’s Republic of Korea (DPRK) via China.

Now ROK’s National Police Agency has changed its claim and is blaming Europe and the United States!!!

South Korean cops now say the cyber attack that shut down three major TV broadcasters and three major banks, and disabled 32000 computers, came from IP addresses in three European countries and the U.S.

ROK NPA investigators suspect other countries are involved.  The question now is why were U.S. and South Korean officials so quick to blame China and the DPRK?

Business/Economics, U.S.

What Economic Recovery? List of U.S. job losses & store closings for 14 February 2013: Despite car makers reporting profits they just keep cutting jobs! More schools closing! More layoffs as companies expect no recovery in 2013!

Walker Manufacturing, in Virginia, laid off 30 employees. The factory makes exhaust system parts for the auto industry.  Company officials blame the layoffs on reduced orders.

Northrup Grumman just keeps letting people go. This time the defense contractor is laying of about 60 employees in Maryland and Virginia.

In Maryland, Freshii restaurant closed down. The owners said they need to focus on their other restaurants.

In New York, F. Stadtmuller Jewelers closed in Sayville. The store first opened in 1860!

Minnesota based Imation is already selling off its recently acquired Memorex and XtremeMac electronics businesses, plus laying off around 200 employees!  Apparently the company is losing money on those businesses.

Maryland based Forrester Research is laying off 30 employees, and predicting an economic slowdown for 2013.

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 San Luis Obispo, Jim’s Campus Camera store closed down.  The owner of the 42 years old store blames the digital age.

In Chicago, Illinois, the school district is considering closing 129 schools!  Chicago Public Schools (CPS) officials blame declining enrollment and lack of money.  However, members of the Austin Community Action Council actually accused the CPS of lying about the lack of money.

In Zanesville, Ohio, a Rite Aid closed down.

In Galva, Illinois, Music Forte music shop closed down. The owner said sales sucked.

The Holy Grounds Coffee Shop closed in Farmington, Missouri.   The shop was part of a Christian book store, but the coffee shop owner wants to pursue other interests.  The owners of the Christian book store are looking for a new business to fill the coffee shop space.

In Jacksonville, Florida, Piccadilly’s Westside cafeteria has closed.  There was little notice as customers tried to get in on the day it closed.  The restaurant chain went bankrupt last year and has been closing stores.

 

Business/Economics, U.S.

What Economic Recovery? Another Pennsylvania Kmart going down! Lampert to remain as Sears Holdings CEO, for $1 per year!

22 March 2013/10 Jumada l-Ula 1434/02 Farvardin 1391/11 Yi-Mao (2nd month) 4711

The Shippensburg Kmart in Pennsylvania closing down by June.  Sears holdings says the lease was not renewed.  The new owners of the shopping center say they have plans to turn the Kmart space into three smaller stores.

Sears Holdings is keeping Eddie Lampert as CEO, for a yearly salary of $1 USD!  However, Lampert could be paid bonuses worth up to $2 million in cash and $4 million in stocks!

Here’s my updated list of 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).

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

Idaho: Lewiston Sears (at least 60 jobs lost).

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). 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.

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), recently revealed 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),  one of two Greenville Kmarts (74 jobs lost).

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).

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

Business/Economics, International

World War 3: IMF & EU banks trying to take over Cyprus banking system! Yet another attempt to seize depositors’ accounts!

22 March 2013/10 Jumada l-Ula 1434/02 Farvardin 1391/11 Yi-Mao (2nd month) 4711

“Time is up, we want our cash! Our friends in Europe brought us to this point. We expected more.”-Maria Melitou, Cypriot accountant

The latest reports are that hundreds of people, if not thousands, are clashing with police in the capital city of Cyprus.  All because the European Union wants to take their bank accounts.

European Central Bank (ECB) officials are now pressuring Cyprus to close down its banks, as part of the latest bailout offer.  The ECB is also demanding the freezing of any accounts that are not insured!

The International Monetary Fund (IMF) estimates that they would be able to seize 40% of uninsured assets and accounts!

German officials said the radical bailout offer is justified because the two biggest banks in Cyprus will fail anyway.  The German official said seizing uninsured accounts would actually leave more money in the Cypriot banking system than if the two biggest banks failed outright.

But there are several Russian billionaires who have large amounts of uninsured deposits in Cypriot banks, and they say this is just an attempt by the ECB to steal some free money.

Another German official admitted in a Christian Science Monitor interview that the European Union wants to get its hands on the suspected tens of billions that are in the almost unregulated Cypriot banks: “We want this to be taxed.”-Michael Fuchs, a member of Angela Merkel’s Christian Democrats

The Cyprus Popular Bank (aka Laiki Bank) said it will fail outright on Monday, 25 March 2013.  The Cypriot government is considering a law that would ban money being taken out of the country.  Also, ATMs are running out of money because of the amount of people trying to cash out (the banks are still closed).

Right now 67.3% of Cypriots want out of the European Union.  There are reports that if Cyprus goes along with a ECB bailout that Russia could dump its holdings of euros.  42% of Russia’s foreign exchange currency holdings are in euros.  Prime Minister Dmitry Medvedev says it’s not worth it to have euros if the ECB gets its way: “If it can be done in Cyprus, why not in Spain, in Italy, or in other countries where there are problems with finances? Tomorrow they will start to confiscate deposits there.”

 

 

Business/Economics, International

World War 3: South Korea blames China for latest cyber attack!

21 March 2013/09 Jumada l-Ula 1434/01 Farvardin 1391/10 Yi-Mao (2nd month) 4711

The Republic of Korea’s National Police Agency now says that yesterday’s cyber attack came from a Chinese IP address.

Three major South Korean TV broadcasters and three banks were shut down by hackers using a virus.  Also, more than 32000 computers have been affected and will take up to five days to fully restore them.

ROK cops say they still suspect North Korea as they could have accessed South Korean computers using the Chinese IP.

Business/Economics, International

What Economic Recovery? Cyprus banks to remaind closed for another week! Signs of banks not Too Big to Fail!

21 March 2013/09 Jumada l-Ula 1434/01 Farvardin 1391/10 Yi-Mao (2nd month) 4711

After rejecting an privately funded European Union bailout, and after starting negotiations for a bailout from Russia, banks in Cyprus have decided to remain closed for another five days.

This is because many Cypriots plan on withdrawing all their money.  This is because the EU bailout plan involved a heavy tax on bank accounts.  ATMs are still working, but reports say it’s difficult to keep them filled with cash because of all the withdrawals.

There is also signs that two major banks are in trouble. Cypriot media is reporting that the government is going to create new banks to take over ‘good’ accounts from the Bank of Cyprus and Cyprus Popular Bank.  The two banks are rumored to be allowed to fail.

Officials with Cyprus Popular Bank are reportedly in Russia looking for a buyer.  Other reports say banks are being offered to Greek buyers.

The Ministry of Finance and Central Bank officials are also working on creating bonds that will be backed by the future development of natural gas sites from Leviathan.

Business/Economics, International

Mystery Pig Deaths: Bodies found in river now at 13000! Climate change & China’s booming economy & government spending cuts being blamed!

21 March 2013/09 Jumada l-Ula 1434/01 Farvardin 1391/10 Yi-Mao (2nd month) 4711

“People who dispose of carcasses illegally will be fined 2,000 yuan [$322 USD] and detained for seven days!”-Huang Jun, vice-head of Xinfeng township

Chinese media now claims 13000 pig bodies have been pulled from the Huangpu River.  Investigators expect more, but they’re not blaming disease, they’re blaming climate change, low pay for farmers and increasing demand for food.

At this point investigators say the bodies are showing no signs of epidemic type infections.  Many of the pigs had ear brands that linked them back to Zhulin village in Jiaxing city, Zhejiang Province, but officials there deny throwing pigs into the river.  Many people have described the massive pig farming operations as rotting stinking cesspools, they say when you’re on a train you know you’re passing the area just by the smell.

Some farming towns use vats of chemicals to get rid of dead animals, while other towns burn them.  Many townships have official collection points for dead farm animals, but most farmers still dump the bodies in the river.

There is also an official program to subsidize farmers for every animal that dies, yet local media report that local governments have never received the funding to pay for the program.  In fact, and despite China’s booming economy, government spending on farming programs have been cut.

There are also reports that slaughter houses will buy up pigs from mass die offs, so why are so many ending up in the river?

The reality is that the booming Chinese economy is not trickling down to the farmers.  So to increase their cash flow, and meet the increasing demand for food, farmers have been raising more and more animals in the same amount of space.  This increases the spread of disease and other problems: “I’ve been raising pigs for more than six years. Generally, each pig needs at least 1 cubic meter of space. If that space is too crowded, the temperature and humidity of the farm is affected. It also causes changes in the way the pigs eat and drink, their levels of activity and rest. Drainage also becomes a bigger problem.”-Wang Honglai, farmer from Wangzhuangtou village in Cangzhou, Hebei Province

China’s Ministry of Agriculture has ruled the mass die offs are the result of what are normally common farm animal infections, that are getting out of control due to overcrowding and exacerbated by abnormal weather conditions.