Category Archives: Business/Economics

Business/Economics, U.S.

Corporate Evil: UnAmerican Corporate American airlines accused of massive tax evasion!

“It seems as if Sycamore is doing at the local level what the Cayman Islands does at the federal level.”-Brian Imus, Illinois Public Interest Research Group

16 January 2013, the Regional Transportation Agency (RTA) is now charging United Airlines and American Airlines with tax fraud!

It says the airlines ripped off the city of Chicago, and Cook County, Illinois, and the RTA itself, to the tune of $300 million USD in lost taxes since 2005.

The RTA says United and American airlines did this by setting up fake fueling operations in an Illinois town called Sycamore.  RTA says the address United gave for its fueling operations is a Sycamore strip mall, and American’s fueling operations are located in a windowless office in the Sycamore town hall.

“The Regional Transportation Authority (RTA) is alleging that United Airlines and American Airlines operate sham offices in Sycamore, Il. that they use to avoid paying higher taxes from their actual offices in Chicago. These small, part-time offices are rarely occupied and, in at least one case, don’t appear to even have a computer. But both multi-billion dollar companies claim they purchase their jet fuel – one of their largest expenses – from those offices.”–RTA press release

Business/Economics, U.S.

What Economic Recovery? New Mexico Kmart down! Sears invading Canada?

16 January 2013, a Kmart on El Paseo Road, in Las Cruces, New Mexico, will close in April. The store had been in operation for about 40 years.  At least 58 people will lose their jobs.

Since the beginning of 2013, the official reason for closing down Sears and Kmart stores is that they’re “under performing”.

There are reports out of Canada, saying that while Sears is closing down in the U.S., it’s taking over Zeller stores: “The U.S.-based retailer is expanding into Canada and setting up shop in many of the spaces previously occupied by Zellers.”-The Western Star, a New Foundland/Labrador based media source

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 to be closed by 03 February 2013 (69 jobs lost), Hialeah Kmart (67 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).  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).

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

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

New Mexico: Recently revealed Las Cruces Kmart (58 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).

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).

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

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (approximately 50 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).

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).

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

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

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

 

Business/Economics, Idaho, U.S.

United Corporate Police States of America & Class Warfare: Corporate run prison behind gang violence in Idaho? CCA has established history of being sued over prison violence in Idaho!

Back in November 2012, eight inmates surviving in the Corrections Corporation of America’s (CCA) Idaho Correctional Center (aka Gladiator School) filed a lawsuit against the unAmerican corporation, claiming CCA intentionally uses gangs and gang violence to control their privately run prisons.

On 14 January 2013, CCA asked a federal court judge to throw out the claim.

This is not the first time Idaho’s unAmerican corporate run Gladiator School has been sued for violence.  In September 2011, a former inmate settled his lawsuit with CCA over the fact that he was beaten almost to death, while prison guards watched.

Other lawsuits claim CCA withholds medical treatment from prisoners.

Recently the American Civil Liberties Union-Idaho, has accused CCA of not following through on its promise to clean up its act (a result of a March 2010 lawsuit).

CCA, a Tennessee based unAmerican corporation, is a major supporter of Idaho politicians, overwhelmingly Republicans.  Click here for a list of Idaho politicians who got money from CCA in 2006 and 2008. You should note that most of them are continually ‘re-elected’.

Business/Economics, U.S.

What Economic Recovery? New Kmart & Sears closings for the start of 2013: Pennsylvania loses another Kmart! Sears trying to force Colorado to pay for its closing?

On 13 January 2013, it was revealed that the Warminster Kmart, in Pennsylvania, will close on 17 March. 85 people will be unemployed.

On 09 January new Sears Holdings CEO, Eddie Lambert, bought more than $13 million USD in Sears Holdings stock. Up ’till then he already controlled 62% of stocks in the company.

An analyst writing for Forbes said Sears is expected to show a drop in sales for the holiday season.

In Fort Collins, Colorado, Sears Holdings and the Foothills Mall owner are fighting, over how to get rid of Sears. In a confusing article out of Colorado, it’s being reported that Sears Holdings wants to leave the mall, and the mall owners want them out.  The problem seems to be over the property value of the Sears store.  What it comes down to is that Sears Holdings wants to close down their Foothills Mall store, but they’re trying to actually be paid to do it: “Sears won’t say publicly how much it would accept to vacate Foothills Mall. And while new mall owner Alberta Development Partners won’t say publicly what it has offered to pay Sears to leave….”–Coloradan, 11 January 2013

But Sears and the Foothills Mall could lose out if local government authorities play their eminent domain card.  They’ve been given a 30 day warning.

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 to be closed by 03 February 2013 (69 jobs lost), Hialeah Kmart (67 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).  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).

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

New Jersey:  Lawnside Kmart (about 80 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).

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).

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

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (approximately 50 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).

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).

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

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

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

 

Business/Economics, U.S.

What Economic Recovery? It’s not just Sears & Kmart, JC Penney has been closing stores as well!

10 January 2013, in all the reports about Sears and Kmart closing down, we forgot the other one; JC Penney.

It all started in 2011, when JC Penney closed down all catalog stores.  They also closed down five department stores in Georgia, Illinois, Iowa, North Carolina and Virginia.  A ‘Home Store’ was closed in Georgia.

April 2011, a JC Penney call center in Grand Rapids, Michigan, was closed.  370 jobs lost!

At the end of January 2012 the Ashland, Wisconsin, JC Penney was closed.  Also, a JC Penney in Nogalas, Arizona, was closed.

03 March 2012, a West Baraboo, Wisconsin, JC Penney was closed.

In April 2012, a call center was closed in Pennsylvania. 321 jobs lost!

Also in April 2012, JC Penney laid off 13% (600 people laid off!) of its headquarters staff in Plano, Texas.  Then in July 2012, another 350 people lost their jobs in Plano, Texas!

28 July 2012, San Fernando, California, store closed.  50 jobs lost. This despite 1,500 people who signed petitions to keep the store open, obviously there were some dedicated JC Penney shoppers in that city.  Company officials said it was all about “growth”, apparently the 59 year old store wasn’t growing anymore.

28 July 2012, Scottsbluff, Nebraska, store closed.  15 jobs lost.

01 August 2012, an analyst writing for Forbes predicted 250 JC Penney stores “…will be classified as impaired by management by the end of the year…”.

September 2012, closes Plainfield distribution and support center in Indiana.  230 jobs lost (some confusion as the official state government report says 176, but local media says JC Penney told them 230).

January 2013, the Wilson Mall in North Carolina is about to close for good, so no more JC Penney.

08 January 2013, New York Post interviewed Credit Suisse analyst Gary Balter.  The interview was about Sears Holdings, but Balter might have given something away; JC Penney about to start liquidating stores.  The hint came when he was trying to explain that if that happened it would ruin Sears Holdings’ plan to do the same: “If [Penney] starts liquidating locations, that could seriously undermine the real estate asset support argument for Sears.”

 

 

Business/Economics, U.S.

What Economic Recovery? New Kmart & Sears closings for the start of 2013: Another Kmart down! “Man Who Ruined Sears, Takes Over”!

“The consumer is 70% of GDP. If growth is decelerating, how are you going to have (retail) growth? You’re not, you’re going to go on closing stores.”-Howard Davidowitz, Davidowitz & Associates

09 January 2013, another Kmart down. This time in Alabama.

The Anniston Kmart had been in operation since 1973, and was the city’s oldest ‘big box’ retailer.  Sears Holdings said the store had seen a drop in sales during the holiday season.  However, the local Alabama Retail Association said the exact reasons for the store closing were not known!

A 24/7 Wall St article revealed that “The man who created Sears Holdings Corp. in 2005, largely through the combination of Sears and Kmart, and then ruined the new public company, will take over as CEO….”

They’re talking about Eddie Lampert.  The revelation was made the same day the Anniston, Alabama, Kmart closing was announced.  Lampert will replace outgoing CEO Louis J. D’Ambrosio.

Sears Holdings agreed to settle a U.S. government lawsuit on 03 January 2013.  It concerns misleading labels.  Sears will pay a measly $475,000 USD fine.

A Forbes article explained that Sears will continue closing stores.  For 2012 at least 172 Sears/Kmart stores were closed.  The continued store closings are being called: “…an orderly liquidation.”-Howard Davidowitz, Davidowitz & Associates

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), just revealed 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 to be closed by 03 February 2013 (69 jobs lost), Hialeah Kmart (67 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).  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).

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

New Jersey:  Lawnside Kmart (about 80 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).

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).

Pennsylvania: Upper Darby Sears Full line, Pottstown Sears Full line, Pittsburgh Kmart, Wilkins Sears.

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (approximately 50 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).

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).

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

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

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

Business/Economics, International, U.S.

Money Changers in the Temple: Catholic Church goes Cash Only, caught breaking money laundering laws!

“A lot of tourists don’t have cash on them, so they have to get euros and don’t know where to get them.”-Fluger William Hunter, tourist from United States

The Catholic country of Vatican City is now cash only.  (Vatican City is the world’s smallest country)

All credit/debit card payments have been suspended, and ATMs have been shut down.

The Bank of Italy is taking the tough action against the Temple of the Western Christians, saying Vatican officials are disobeying European Union anti-money laundering laws.  Because of that no European Union member bank can conduct operations in Vatican City.

The Catholic Church does not have its own electronic banking system, and has been relying on outside banks for the service.

 

Business/Economics, U.S.

U.S. Treasurer Resigns

03 January 2013, U.S. Treasury Secretary, Timothy Geithner, will step down at the end of the month.

This is not the first time rumors have spread of Geithner wanting to quit his job, but some analysts think it’s for real this time.

Also, in an interview last year, Geithner said he would not stay on if Obama was re-elected.

 

Business/Economics, Idaho, U.S.

What Economic Recovery? More retail stores closing down in the United States! Local taxpayers ripped off! Clothing stores hit hard!

03 January 2013, it’s not just Sears and Kmart, many other retail stores are closing down in 2013.

Macy’s just reported they will close at least six stores.  Macy’s will close stores in California (116 jobs lost), Hawaii (91 jobs lost), Massachusetts (101 jobs lost),  Minnesota (153 jobs lost), Nevada (a Bloomingdale’s, 35 jobs lost) and Texas (138 jobs lost).

In the case of the Saint Paul, Minnesota Macy’s, taxpayers will lose $6.3 million USD.  That’s how much of a tax subsidy city leaders gave the store back in 2001.  Under the deal Macy’s did not have to pay it back as long as the store stayed open through 2012.  Well, it’s 2013, and they’re shutting it down.

Macy’s is the last major department store in the downtown Saint Paul area, meaning for the first time in 130 years there will be no major department stores in the downtown area.

Other store closings announced for 2013:

f.y.e. music store in Beverly, Massachusetts.

f.y.e. music store in Montgomery, Alabama.

Mother Nuture parenting store in Lexington, Kentucky.

Coldwater Creek women’s clothing store in Glendale, Wisconsin.

Christopher & Banks women’s clothing store in Glendale, Wisconsin. (actually closed at the end of December 2012)

Whole Foods Market organic food store in Tucson, Arizona.  But good news, it’s only for remodeling, they hope to be re-opened by the end of 2013.

Barnes & Noble book stores, two in Texas.

A&W All American Food restaurant in Boise, Idaho.

Bakers shoe store in Boise, Idaho.

Blockbuster video store in Lackawanna County, Pennsylvania.

Savvy Spaces furniture store in Charlotte, North Carolina.

Eddie Bauer clothing store in Yakima, Washington.

Eddie Bauer clothing store in Appleton, Wisconsin.

Eddie Bauer clothing store in Rockford, Illinois.

Pearle Vision Center in Mall at Steamtown, Pennsylvania.

Shambala clothing store in Mall at Steamtown, Pennsylvania.

Verizon cell phone store in Mall at Steamtown, Pennsylvania.

Gap clothing store in Shoppes at Montage, Pennsylvania.

C.J. Banks women’s clothing store in Wyoming Valley Mall, Pennsylvania.

H&M women’s clothing stores in Eastview Mall and Mall at Greece Ridge, New York.

Soccer Plus stores in Palatine and Libertyville, Illinois.

Easy Street Records in Seattle, Washington.

Justice IGA grocery store in Grayson, Kentucky.

Sheetz convenience store in Johnstown, Pennsylvania.

The last of the Cub Foods grocery stores in Trotwood, Ohio.

Vons grocery store in Hesperia, California.

Amy’s Hallmark greeting card store in Albany, Georgia.

Restoration Hardware store in Wauwatosa, Wisconsin.

American Eagle Outfitters clothing store in Birmingham, Alabama.  (closed at the end of December 2012)

Piggly Wiggly grocery store in Florence, South Carolina.

Disney Store in Reno, Nevada. (closed at the end of December 2012, recent reports say Disney will not renew its store leases)

Klingenberg’s Hardware and Paint store in Newport, Kentucky.  (closed on 29 December 2012, after 90 years in business)

The Papery paper product store in Clarendon, Virginia.

Larmon Camera Shop in Wayne, Pennsylvania.

Tasti D-Lite frozen dessert West End store in Nashville, Tennessee.

Vision Video store in Athens, Georgia.