Category Archives: Business/Economics

Business/Economics, International

What Economic Recovery? Officials walk out of European Union 2013 budget talks!

09 November 2012, representatives from European countries walked out of the EU’s 2013 budget talks!

There’s a major dispute over an extra nine billion euros still needed for 2012! Representatives from various European countries refused to discuss the 2013 budget with the European Union parliament, until unaddressed funding issues for 2012 were dealt with.

This means many areas of the EU, that’re still waiting for millions in 2012 funding, will probably never get it. The next EU meeting is 22-23 November.

 

 

Business/Economics, U.S.

Sears & Kmart news: Free shipping, analysts warn against buying stocks, former stores turned into apartments for the rich, Sears Canada trying to remake image no more old fogies, how to get your home hired for advertising, no star upon thars for Walmart

Lake Charles, Louisiana, is moving forward with plans for the former site of Sears.  They’ve awarded a contract to a property developer who will build a $20 million USD luxury apartment complex.

In Cleveland, Ohio, hopes are high that someone will bring Sears back to the Bradley Square Mall.  Mall owners say all they need is an independent Sears Hometown & Outlet operator to come in and pay for the lease!    The inventory will still come from Sears, but the store will be independently owned.  So how much will it cost to get started? “The store costs $100,000. The cost breakdown includes $60,000 for furniture and fixtures; $25,000 for store buildout and $15,000 in miscellaneous startup costs.”–Cleveland Daily Banner

Sears Canada (partly owned by Sears Holdings/Hoffman Estates) admits it has an image problem. Despite being recently voted the favorite department store of Canadians, the CEO says it needs to stop catering to the old fogies:   “Our brand personality is older. It’s traditional. It’s less popular and some would say uninspiring. Sears needs to recreate an image and redefine what we stand for….”-Calvin McDonald

Sears Canada is starting the image make over with a new slogan: “Make every day a great day”  (I wonder if that’s what they tell the people they layoff?)

To increase internet sales, Sears and Kmart will offer free shipping as part of their Shop Your Way Max membership program, or if you buy more than $49 worth-o-crap off their website.

And while Sears and Kmarts are being closed, supposedly because there’s no money, Sears Holdings is spending big money on Apache Hadoop, a high scale, open source data processing platform, in order to track everyone who’s part of the Shop Your Way program.

The Motley Fool is warning investors to stay away from Sears and Kmart stocks: “Foolish investors should follow Buffett by staying away from Sears and loading up on shares of its rival, Walmart.”-Jonathan Yates

By the way, why does the main stream media always add a dash between Wal and mart? There’s no dash between Wal and mart, and mart is not capitalized. It’s Walmart.  I hates Walmart, but at least I spells it correctly.  Actually here’s the history: From 1962-64 there was no dash.  From 1964-92 there was a dash.  From 1992-2008 there was a star.  Since 2008 Walmart has gone back to no dash or star upon thars (but there’s like an astric following Walmart*).

The inventor of the Bionic wrench is suing Hoffman Estates. He says he patented his bionic wrench in 2005, it’s made in the United States. He claims that the Sears Craftsman brand is selling their own version called Max Axess, and it’s made in China.

So you’re thinking of ways to make more money, probably to make up for your decrease in wages or benefits. If you’re lucky enough to still be in the home you’re buying (or even luckier, the home you own) then why not rent it out to advertisers?

A home in Naperville, Illinois, was used in June for upcoming Xmas advertising for Kmart.  Here’s what the advertisers are looking for: Newer homes that don’t have a lot of trees or bushes, because it’s easier to “dress up” the home for a particular add.  Quite neighborhoods, and for some reason they like porches.  Also, the local governments must be willing to work with the advertising companies doing the production shoots, meaning they better not charge outrageous city fees for such work.  Advertisers claim they try to respect neighbors and keep production noises down, and try not to block the street for too long.

Business/Economics, U.S.

What Economic Recovery? Double whammy for ancient building; first Sears leaves, now the U.S. military is withdrawing! Anybody got $3.8 million to spare?

In the city of Albuquerque, in the U.S. state of New Mexico, an ancient building was vacated once again.  This time the U.S. Department of Defense has given up the ghost at the ‘Sears Building Downtown’.

The building was built for Sears in 1936.  Sears left the building and it was bought by a property developer in the late 1980s.  It was then remodeled into an office building, and was being used by the U.S. military as an inprocessing center.

This year (2012) the military withdrew from the building, to a new location. The owner is now asking $3.8 million for the large building (basement, 1st floor and two spaces on the 2nd floor are available for quick sale).

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

What Democracy? Idaho voters fools, lap top proposition a done deal to help save HP!

The Idaho media reported that the majority of Idaho voters turned down propositions that were an attempt to make public education better (Idaho consistently ranks low in quality of education in the United States, I guess most people in Idaho are happy with that).

What the dumb voters (encouraged by the dumb Idaho media) don’t know is that those propositions are not going away.  State legislatures will simply revisit those proposals, and can even pass them as laws without voter input (they’ve done it before).

But here’s one good reason that Proposition 3 (provision of computing devices and online courses for high school graduation, aka lap tops for students proposal) isn’t dead: Hewlett Packard was already awarded an eight year $180 million USD contract to provide those lap tops, back on 23 October!

Now you voters in Idaho don’t want to be responsible for anymore layoffs there at the Boise HP Center, do you?

Here’s some of the latest data to show you how bad education is in the Gem State:

Montana State University:  Idaho ranks 33rd for teacher quality.  Idaho ranks 35th for education input.  Idaho ranks 33rd for education social impact.  Idaho submitted no data for the education output & education efficiency rankings.

Quality Counts Education Survey, 2012: Idaho ranks 47th (tied with Nevada). 

CNBC Business ranking 2012:  Idaho ranks 48th in the survey’s Education category, a drop from 45 in 2011.

U.S. Census Bureau: Idaho ranks 50th in school spending.  I’m normally against increased spending, especially since most of the money goes to administrative costs and not actual education, or is not even accounted for, (and it seems year after year I have to pay more fees, besides property taxes, for my high school aged kids).  But maybe there is a correlation here?  However, according to National Kids Count Program (2009 data), when you adjust spending on regional cost of living then Idaho actually spends more than California, per student! Ah ha!

Here’s the problem I have with increasing funding: For example, School District 25 gets millions and millions of dollars from local property taxes (technically they’re called fees, which is why school officials get away with telling voters that school bonds/levies will not raise “taxes”.  A few years ago a local newspaper article revealed that just one major employer in Pocatello pays $1 million yearly in school fees on their property tax bill!).  Then they get money from the State and Federal governments (again from our taxes we pay).  Then, supposedly, they get millions from Powerball Lottery (at least that’s what the lottery advertisements say).  Oh, and I almost forgot the grant money, and computers they get donated from corporations, like the Albertson’s Foundation (I remember when my kids were attending Chubbuck Elementary [little more than ten years ago], seeing the school get new computers almost every year, and one year one of my kid’s teachers admitted that she didn’t even use them ’cause it was too stressful for her to learn how!)!  Yet school district officials are always whining that they don’t have enough money!  I want to see an investigation and a detailed breakdown of where all that money goes!

And if the votes of Idaho voters really count, then what’s going to happen to the $180 million HP is getting for Proposition 3, the Proposition voters just rejected?

(Here’s an update for 09 November 2012: my youngest daughter came home from school [she’s a Junior at one of the local high schools] saying that teachers were trying to explain that the “lap tops for students” was still happening, despite the election results.  You see, your votes really don’t count!)

Business/Economics, International, U.S.

World War 3 & What Economic Recovery? Greece in Civil War, elected officials join rebels, parliament falling apart!

“It marks the beginning of the end of the coalition government and offers a textbook example of the terminal decay of a system of power.”-Costas Douzinas, The Guardian

08 November 2012, the situation in Greece looks like it’s deteriorated to the point of a full blown Civil War, with members of parliament being kicked out and joining the protestors.  Protests have become violent, with people directly attacking police.

Unemployment in Greece hit record levels in August; 25.4%!

Protests turned into riots a couple of days ago, as the parliament worked to pass yet another round for spending cuts and tax increases (austerity measures/fiscal cliff).  The Greek Prime Minister tried to calm things down by telling the people these would be the last austerity measures, but like Aesop’s boy who cried wolf, no one believes him!

During the parliamentary wrangling over the austerity bill, parliament employees/staff went on strike when an amendment was introduced to cut benefits for parliamentary staff members!  The strike ended when the amendment was dropped.

The new austerity includes more cuts to government employee pay, as much as 35%!  And this time even central bank employees and judges will not be spared.  25,000 more public sector jobs will be eliminated.

Here’s proof that the Greek “democratically elected” government is not democratic nor free:  Elected officials who voted against the cuts were expelled! At least seven Members of Parliament were kicked out of their own political parties!

 

 

 

 

Business/Economics, International, U.S.

World War 3: Turkey bombs Iraq, Iraq expells Turkish oil company!

08 November 2012, Iraq has expelled the Turkish oil company, TPAO (aka Turkish Petroleum Corporation).

Iraqi government officials refuse to explain why at the moment, but could it have something to do with continued Turkish bombing of Iraq?

On 06 November, Turkish F-16 Vipers bombed northern Iraq, killing two people and wounding three.    Back on 02 October Iraq demanded U.S.-led NATO member Turkey stop its attacks.

Turkey claims it is targeting Kurdish insurgents.

 

Business/Economics, International

World War 3 & What Economic Recovery? Nissan revises expected profits downward!

On 06 November 2012, Japan’s Nissan Motors reduced its expected profits for the Japanese fiscal year (ending in March 2013), by 20%!

Nissan, like Mazda, is blaming most of it on crashing sales in China.  Nissan also blames the bad economy in Europe, and the increasing value of the Japanese yen (which makes Japanese cars more expensive).

Nissan reported sales numbers in China similar to what Mazda reported days ago.  Nissan experienced a 35% drop in September, then a 41% drop in October!

Chinese consumers are boycotting Japanese products (even those actually made in China) over Japan’s take over of an island that China says belongs to them.

Business/Economics, International, Technology

Government, Corporate & Media Incompetence! Radiation monitoring devices shown to be inaccurate! $1.8 million to fix the problem!

08 November 2012, Japan’s Science Ministry discovered that 675 radiation detectors, placed around Fukushima Daiichi, are reading at least 10% below actual radiation levels!

Since April 2011 the monitors have been uploading radiation readings to the internet, in real time.

The Science Ministry investigated their devices because independent radiation detection by local governments, and individuals, were consistently higher than the national Science Ministry’s data.  Something I’ve pointed out in past postings, but of course the main stream media goes with official national government data.

In March 2012, residents of Fukushima Prefecture reported that the national government data was too low.  They were ignored.  In April 2012, Green Peace reported that radiation levels were much higher than what the national government was reporting.  Green Peace was blown off.   Even independent Japanese reporters risked their lives going into the radiation contamination zone, then posted their video on YouTube, in some cases showing their radiation detectors pegging at higher than officially reported levels.  They were ignored.

The Science Ministry now says the data from individuals and local governments are correct. The 675 defective official radiation monitors were constructed with the battery housing blocking the radiation detectors’ sensors!

It will now cost Japanese taxpayers $1.8 million USD to fix the problem!

Business/Economics, U.S.

What Economic Recovery? Updated list of more Kmart and Sears closings! Former Sears, now a Kmart, to close in Illinois!

08 November 2012, just hours after I posted and updated closing list, yet another Kmart was revealed to be closing!

It’s a Kmart in Homer Glen, Illinois.  The store originally was a Sears, but was remodeled and turned into a Kmart just last year!

The 82 employees were told on 07 November that they were losing their jobs in late January 2013.

Here’s the updated list, with the Illinois addition.  Also, a Sears scheduled to close in Kentucky is now under independent ownership and is having a grand re-opening this month!

Alabama: Gadsden Kmart (50 jobs lost), Mobile Sears (at least 40 jobs lost), Auburn Kmart (at least 40 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 (at least 40 jobs lost), Longmont Sears (at least 40 jobs lost), Pueblos’ South Side Kmart (52 jobs lost).

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).

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:  Melrose Park Sears parts and repair center (50 jobs lost), Fairview Heights Kmart (81 jobs lost), Freeport Kmart (45 jobs lost), Pontiac Kmart (more than 47 jobs lost), and the newly revealed Homer Glen Kmart (82 jobs lost).

Iowa:  Cedar Rapids Kmart (at least 40 jobs lost), Davenport Kmart (at least 40 jobs lost), Burlington Kmart (50 jobs lost).

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).

Michigan: Brighton Sears Grand/Essentials,  Harper Woods Sears Full line, Monroe Sears Full line, Adrian Sears Full line, Washington Township Kmart, Chesterfield Kmart, Woodhaven Kmart.

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).

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

Ohio: Chagrin Falls Kmart, Springfield Kmart, two Toledo Kmarts, Medina Kmart, Columbus Kmart, 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.

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).

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).

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, 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

Hawaii: Ala Moana Center

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

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

 

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

Economic Recovery or Civil War? Gun sales in the U.S. expected to skyrocket

07 November 2012, the day after the main stream U.S. media prematurely declared Barack Obama the new President (the Shadow Voters, aka Electoral College, vote to elect the President on 17 December 2012), investors are driving up stock prices for gun makers and those chain stores that sell guns.

Investment analysts say it because investors expect a run on guns, because many supporters of the Second Amendment think a re-elected Obama will result in more gun control laws.

That might be, but there could be another reason: Civil War.

Back in August a Texas judge warned that if Obama was re-elected there would be civil war:   “…he’s going to try to give the sovereignty of the United States away to the United Nations. What do you think the public is going to do when that happens? We are talking civil unrest, civil disobedience, possibly, possibly civil war, OK? Now what happens? What happens? Now I’m not talking just talking riots here and there. I’m talking Lexington, Concord, take up arms, get rid of the dictator. OK, what do you think he is going to do when that happens? He is going to call in the UN troops, personnel carriers, tanks and weapons.”-Tom Head, Lubbock County judge and Emergency Management Coordinator

Seemingly in response, on 06 November several so called Liberals stated on Twitter things like “Vote for Mitt Romney… It’ll better our chances to start a civil war”, “If Romney win second civil war”, “Lady in the polling line say if romney win its gone b a civil war”, “Goin buy a gun tommorow Cus if Romney win I ain’t goin out without a fight”, “If Mitt Romney win get ya gun game up” etc.

Note the pro-gun statements by so called liberals.  Here in Idaho, Democrats are just as supportive of the Second Amendment as their Republican neighbors, and the same can be said of most Idahoans who don’t claim a political party preference.   Maybe that’s why the main stream anti-gun rights north-eastern based & focused U.S. media assume all Idahoans are Republicans?