Category Archives: Business/Economics

Business/Economics, U.S.

What Economic Recovery? American’s making $150,000+ per year get financial aid!

Make more than $150,000 USD per year and want to send your brat to a expensive private grade school?  Just join the growing ranks of six figure earners who are actually applying for financial aid!

According to the National Association of Independent Schools, at least 20% of six figure earners apply for financial help to get their kids into a private grade school.

According to PrivateSchools.com, at least one fifth of private school students get “need based” financial aid.  Most of the schools provide the financial aid themselves, and there are also scholarships.

This is a pretty sad state of economic affairs when six figure earners can get private financial aid!

According to Chantal Stevens, national director of programs at A Better Chance, six figure earners are actually taking bigger hits to their incomes than lower income earners.  The non-profit group sees more and more minority upper middle class applicants every year: “Every year we see families with more means outpacing the families with less means. It’s not a pretty trend.”

What this means is that there is no economic recovery in the United States!

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service to cut operating hours, by as much as six hours per day! Northrop Grumman sues!

May 9, 2012, Postmaster General, Patrick Donahoe, is trying to alleviate concerns over the possible closing of 3,700 post offices, which were to begin in May.  Now the USPS will try to keep as many open as possible, by drastically reducing their operating hours.

The reduction of operating hours would also take place in post offices that are not slated for closing, as many as 13,000 post offices could see hours reduced by two to six per day.

The other option is the creation of Village Post Offices, which would replace the standard post office.  The Village Post Office would operate through a retail business such as WalMart, Walgreens, etc.

Of course Congress has to approve the new plans.

The USPS is also considering letting go any employee who is not protected by labor contracts, and they’re going to do another round of early retirement buyouts.

The Postal Service, which makes its money off the services they provide, not taxes, is facing an $11 billion USD future retirement pre-payment later in the year, as well as health payments.  There are some people who say the U.S. Treasury is actually using the money for other things.

In September 2011, National Association of Letter Carriers president, Fredric Rolando, said most of the blame is on Congress: “I’m here to tell you that the Postal Service is not broke. The Postal Service just needs access to its own money. And Congress needs to get busy and give them that access.”-PBS Newshour interview

He also pointed out that the USPS does not make its money from taxes: “The Postal Service actually has somewhere between $50 billion and $125 billion in their other funds that is not taxpayer money. They haven’t used a dime of taxpayer money in over 30 years! And the Congress just needs to act responsibly and quickly to give them access to that — those funds.”

Postmaster General, Patrick Donahoe agreed: “Fred is exactly right around the issues that we have faced in the last few years. In that same time, we have been required [by Congress] to prepay employee retirement funding.”-PBS Newshour interview

Congress has made concessions, by releasing some Postal Service money, but requiring that the money be used only to reduce the number employees with early retirement buyouts!

The latest Senate bill would allow the USPS to use taxpayer money for the first time in 30 years.  The Senate bailout bill would give the Postal Service $34 billion in tax revenue.

To make matters worse, Northrop Grumman (the third largest USPS contractor) and the USPS are suing each other!

The dispute involves a 2007 automated mail processing contract.  Northrop Grumman says the USPS owes them $180 million USD.  The Postal Service says Northrop owes them $341 million!

They both claim the other failed to meet numerous contractual agreements.

 

 

 

 

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

Terror Drones: April 30 – May 6. Canada to use drones on its own people, new arms race. Drones on trial in U.S.

May 5, 2012, U.S. drone strike kills at least eight people in Pakistan.

May 2, 2012, U.S. drone strikes kill at least 15 people in Yemen.

From April 30 to May 6, the U.S./NATO increased airstrikes in Afghanistan.  They include the use of drones.  The result is an increasing number of civilians deaths.

May 3, 2012: U.S. ambassador to Afghanistan, numb nuts Ryan Crocker, stated that the new military pact between Afghanistan and the United States could allow drone strikes to continue past 2014.

May 5, 2012: U.S. Mormon news source, Deseret News, supports the FAA issuing civilian licenses for drone operation.  Their article points out that many businesses would benefit, like photography, sports, real estate, etc.  Despite the fact that the Federal Aviation Administration has yet to issue civilian licenses, Utah State University has already been using a drone, taking pictures.

May 5, 2012: According to The Canadian Press, the Royal Canadian Air Force will expand the testing of drones to include operations by police: “We know we need to use them, and the Canadian Forces from a capability point of view are moving ahead to ensure there is domestic capability as part of its UAV program in the future.”-Lieutenant General Walter Semianiw

General Semianiw admitted the use of drones by Canadian police is to commit acts of violence: “You must remember that, in Canada, within the domestic construct, I do not have the right to be able to apply lethal force in Canada. That is the responsibility of the police.”

Canadian officials also implied that there is a drone arms race going on between the United States and Canada, by pointing out that the U.S. has military drones patrolling along the U.S.-Canadian border.

Canada has used Israeli made drones in Afghanistan.

May 4, 2012: The Seattle Times opinion piece says that since so many people use the cameras in their cell phones to take pictures of just about anything, then police using drones to take pictures of you in your back yard does not constitute invasion of privacy.

May 3, 2012: It’s the opening stage of the first trial for a U.S. citizen arrested with the use of a drone.  The man arrested was tasered several times, but local police in North Dakota called in a Predator drone because they were concerned for their safety!

What happens at this trial could affect how drones are used by police against the citizens of the U.S.: “There is, furthermore, no existing case law that bars their use in investigating crimes.”-Douglas Manbeck, ND state prosecutor

 

 

Business/Economics, U.S.

What Economic Recovery? U.S. April retail sales worst in past three years!

May 4, 2012, major retailers operating in the United States, including Costco, Macy’s and Target, reported dismal sales for April.

In fact sales were below what analysts and experts were predicting.  It was hoped that the retail industry would see at least a 1.5% increase in sales, instead they got a stagnant 0.8%!  It’s the worst April since 2009!!!

The U.S. retail industry represents 70% of all U.S. economic activity.  Some analysts blame the lack of increased consumer spending on the fact that unAmerican Corporate America continues to layoff employees!

 

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

Economic Recovery? Idaho’s Micron Technology invades Japan! Micron on the offensive!

May 4, 2012, Japanese media reporting that failed Elpida Memory has chosen Idaho’s Micron Technology as its corporate savior.

According to NHK: “Elpida is Japan’s sole DRAM memory chip maker. It filed for bankruptcy protection in February after suffering losses stemming from the strong yen and intense foreign competition.”

But here’s the irony; Idaho’s Micron is also having revenue trouble.  Idaho media, real estate web sites, etc, have been reporting Micron as the Boise area’s largest employers.  But Micron’s employment in Boise dropped to 5,000 in 2009, and has been trickling down ever since.

Micron has had a lot of investors, yet their quarterly reports for 2011 were loss after loss (in the hundreds of millions each quarter).  This is because the memory chip market basically crashed.

However, since the beginning of 2012 Micron officials have been busy buying up other factories, and now companies.  Micron recently took over a Toshiba owned factory in Virginia, called Dominion Semiconductor.

Here’s what the Wall Street Journal’s Market Watch said: “The current state of the memory-production business is looking like the hotel business, where various facilities are bought and sold like trading cards from company to company.”

One reason for that is that memory chips have become a dime a dozen (actually less) and there’s no brand loyalty among chip users.

Micron officials seem to have scouted the next wave of memory innovation correctly, they are now pushing their RealSSD (Solid State Drive) and computer companies are buying it up.

On May 4, 2012, Elpida officials chose Micron, out of three bidders, to take over their company.  It’s reported that it will cost Micron $2.5 billion USD.  The take over will be finalized at the end of May, and new company plan submitted to Tokyo District Court by August.

Originally Micron offered $1.9 billion for Elpida, but Elpida shareholders threatened legal action.

 

 

Business/Economics, U.S.

Employment Evil: Even with nearly 100 million American’s out of work, work place deaths & injuries increase! Actual reason for exploding health care costs?

“We’re actually trending upward, which is not a good sign, particularly in an economy when the hours of work are down, especially in construction. If construction was running full bore, it’s likely the numbers would be higher.”–Bill Kojola, industrial hygienist with AFL-CIO

 The yearly Death on the Job report has been issued, it’s not good.  The report uses data from the U.S. Department of Labor and state governments.

According to federal government data, 13 U.S. workers die on the job everyday!

Also, in 2010 an estimated 50,000 U.S. workers died from diseases related to their jobs!

West Virginia leads the country in worker deaths!

As many as 11.4 million U.S. workers become injured or sick directly because of their jobs!

As a result unAmerican Corporate America is costing the health care industry as much as $300 billion USD per year!  Maybe this is the real reason health insurance rates continue to go up?

Is it any wonder that the U.S. Bureau of Labor Statistics recently admitted that at least 86 million unofficially unemployed people are refusing to look for work?

To read the Death on the Job report, click here.

Business/Economics, U.S.

What Economic Recovery? Corporate America’s (and state & local governments’) planned layoffs increase for 2012

Don’t blame Obama for the bad labor market, the U.S. Labor Department just revealed that the bad labor market (people unable to find good jobs) began in 2000, under Bush Jr’s watch!

Blame Corporate America!  For more proof, Chicago based Challenger, Gray & Christmas released the results of their study of recent planned layoff announcements coming from unAmerican Corporate America, and state & local governments. 

Announced layoffs have gone up 11% since last year!  Education, government, consumer goods and transportation industries had the most planned layoffs, with the education sector leading the way.

According to Business Week, Michigan leads the country with the most planned layoffs: 5,094 announced just last month!

California is next with 4,070, Washington state with 3,329 and Pennsylvania takes fourth with 3,292!

 

 

Business/Economics, U.S.

What Economic Recovery? Official ‘Unofficial’ unemployment numbers way up. Nearly 100 million Americans unemployed! Record number of people who refuse to work slave wage jobs!

“At this point, the labor market is worse than people realize because people are discouraged. Certainly, a large number of workers have given up on the job market.”-Keith Hall, former commissioner of the U.S. Bureau of Labor Statistics

Believe it or not the U.S. Department of Labor’s Bureau of Labor Statistics actually attempts to track those people who’re unofficially unemployed.

The “official” unemployment numbers count those who’ve been looking for work for the last four weeks, and people who already have jobs but are looking for better work.  The fact that “official” unemployment numbers includes people that are actually employed should be enough for you to doubt them.

But it turns out the Bureau of Labor Statistics does try to count people who’ve been out of work longer than four weeks, or who have just stopped looking for work, they just don’t include those people in the “official” unemployment reports.

One way they look at it is what they call labor force participation.  According to their latest numbers, the labor force participation rate in the United States is at it’s lowest level since 1984. There are 86 million U.S. citizens who gave up looking for work!  That’s 86 million “unofficially” employed on top of the 12.7 million “officially” unemployed!

That means there’s actually 98.7 million people known by the federal government to be unemployed in the United States!

Department of Labor officials say that at least 6 million unofficially unemployed have stopped looking for work because most jobs available are not worth taking (from the unemployed’s point of view).

Labor officials also admitted that they didn’t know why about 36 million of the unofficially unemployed refuse to look for work.  In fact the labor force participation rate has been steadily dropping since 2000, years before the credit crisis began!

To make matters worse, the Chicago Federal Reserve bank expects labor force participation rate to continue to fall.

Why is the Labor Department coming forth with this dismal unemployment announcement?  Because federal government officials and politicians have realized that with nearly 100 million people out of work, and signs that it’s going to get worse, the money the federal government steals through income taxes will continue to be less and less (don’t be surprised when they start jackin’ up taxes on those who are employed).

 

Business/Economics, International, U.S.

China sets Yuan at new record versus the U.S. dollar

The People’s Bank of China set the yuan’s midpoint at 6.267, meaning it could take 6.267 yuan to equal one U.S. dollar.  The more valuable the yuan is, the less it takes to equal one USD.

That’s a new record, and proof the Chinese are increasing the value of their money.  May 2, 2012, currency trading in China ended with the yuan at 6.30 for every one U.S. dollar.

The downside is that the more valuable the yuan is, the more expensive anything made in China becomes.  Better bring those jobs back in the U.S.S.A.