Category Archives: Business/Economics

Business/Economics, International, U.S.

What Economic Recovery? Italy becomes second European country to officially hit Double Dip Recession, blame increased budget cuts and unemployment

“The budget cuts are weighing it down…The conditions for a recovery in consumption are not there since unemployment hit a new record.”-Chiara Corsa, UniCredit bank

February 16, 2012, for the second month in a row, Italy’s economy shrank.  Two months in a row of contraction, that’s the official sign of recession.

Belgium was the first European country to officially go into a double dip recession. Interestingly this happened after they finally agreed to a new government, following more than a year without one.

 

 

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

Corporate Crime: 40 years later, two former executives found guilty of the deaths of 2,000 of their Italian employees! Social health care found them out!

“This is the biggest trial in the world, and in history, as far as safety at work is concerned.”-Raffaele Guariniello, prosecutor

In a precedent setting trial in Italy, two former executives of a company that made fiber cement (cement made with asbestos), were found guilty in the deaths of more than 2,000 of their employees!

Another 1,000 employees, and people who lived near the factories, are now ill.  The Italian Health Ministry investigated due to the high rate of health cases hitting their social health care system, that were directly linked to the fiber cement factories.  The investigation revealed that employees were not given even basic safety gear for use around asbestos.  Things like masks and goggles.

One of the former executives is Belgian baron Jean Louis Marie Ghislain De Cartier De Marchienne, the other is Swiss billionaire tycoon Stephan Schmidheiny.

In his defense, Jean Louis Marie Ghislain De Cartier De Marchienne sent a written statement saying that at the time it was not known how deadly asbestos could be.

The factories were closed in 1986, six years before asbestos was banned in Italy.

The two wealthy one percenters face 16 years in prison, if they’re ever caught.  They were convicted in absentia.

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

Corporate Crime: Former officials of scandal ridden Olympus have been arrested

February 16, 2012, seven people connected to the scandal ridden Olympus have been arrested in Japan!

Those arrested include an adviser who instructed Olympus executives how to hide $1.2 billion in losses from investors and regulators, and it includes a former Olympus president, Tsuyoshi Kikukawa.

It also includes a former vice president, and a former auditor.  One of the charges is that Olympus filed false securities reports.  At least two of the arrested have already plead guilty!

The scandal at Olympus was revealed by a former executive of Olympus, who was fired for questioning suspicious bookkeeping.

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

Medical Incompetence: New study says AntiBiotics are useless for treating Sinusitis!

“It provides further evidence for what we’ve really suspected for a long time, that in the management of patients with acute sinusitis, antibiotics do not convey any additional benefit.“-Jay Piccirilloof, senior author

A new study, published in the Journal of the American Medical Association (JAMA), says most antibiotics are useless in treating sinusitis.

Researchers at Washington University in St. Louis, Missouri, studied 166 people.  They spilt up the group by giving some patients amoxicillin for ten days, and others a placebo.  The results were that amoxicillin had absolutely no affect on sinusitis.

The study also stated that the majority of sinus infections are caused by viruses, not bacteria, which explains why antibiotics don’t work.

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

Iran unveils homemade Nuclear Fuel Rods, Nuclear Drugs, Nuclear Cake and 3,000 new Centrifuges

A few days ago Iranian President, Mahmoud Ahmadinejad, said he would reveal Iran’s latest nuclear achievements.

Today, it was revealed that Iran makes its own nuclear fuel rods, radio-pharmaceuticals, and has added 3,000 centrifuges to its program to produce enriched uranium.

Iranian made nuclear fuel rods were placed in the Tehran Research Reactor.  The fuel rods were made under the supervision of the International Atomic energy Agency.  This is the last step in Iran’s nuclear fuel cycle.

Iran has also increased the number of centrifuges from 6,000 to 9,000.  This increases Iran’s ability to make uranium “yellow cake” by 50%.  Iranian officials say that their Isfahan Uranium Conversion Facility is under the supervision of the International Atomic Energy Agency (IAEA).

Iran has also begun production of several pharmaceutical drugs using radio isotopes (like cancer treatment drugs).

Iran says they don’t trust the latest negative reports from the IAEA, preciously because the IAEA has been openly watching their nuclear program, and has never lodged a formal complaint directly with the Iranian government.

 

Business/Economics, International, U.S.

World War 3: Iranian media reports suggest that Iran is about to cut off oil to 6 European countries, lack of Human Rights in Europe being blamed

February 15, 2012, confusing reports in the Iranian media.  Unofficial sources (like PressTV, it is not an official Iranian media source) are saying that Iran has blocked oil shipments to six European countries.

However, official sources (like Islamic Republic News Agency [IRNA]) say only that ambassadors from six European countries have been summed to the Iranian government, to discuss “issues”.

The six countries are Italy, Spain, France, Greece, Portugal, and Netherlands.

The IRNA is quoting Iran’s Director General of West Europe Affaires at Foreign Ministry, Hassan Tajik: “Our response is that sanctions cannot affect Iranians’ will, rather, it will have an adverse impact on European people. Europe is in a difficult economic condition and is facing a harsh winter. Iran cannot remain indifferent towards EU oil ban. We do not have any problem in terms of finding customers for our oil and selling it to other countries. However, based on humanitarian policies and given the conditions of European countries, we have decided to send a serious message to the Europeans which are parties to oil contracts. We can instantly replace oil customers.”

In other words it seems like Iran has identified which European countries it would cut off, and has given them warning, but they have not actually cut off the oil at this point.

It’s interesting that Iran is implying that violation of human rights within Europe is a main factor in their decision to possibly cut off the oil.

Business/Economics, U.S.

Corporate Crime: Problems with Idaho’s Coldwater Creek include theft by company officials

Recently Idaho made it into the top ten for number of embezzlement cases.  The study was done by Marquet International of Wellesley, Massachusetts.

Idaho ranks 7th for business related crimes committed by employees: “Small businesses are the ones at greatest risk because, typically, they have very little infrastructure or controls. There’s no budget for it. Or no perceived need. The business owner ends up relying on a single bookkeeper for 15 years.”-Chris Marquet, Marquet International

In a recent case, former Coldwater Creek executive assistant Susan Alene Hopkins, plead guilty in November to stealing more than $250,000. Sentencing is set for March 20, 2012.

Business/Economics, International

Japan hits 2.1 million infected with H3N2 (H3N2v), New Zealand orders mandatory health screenings for airline passengers!

On February 5, 2012, the official number of people infected with H3N2v, in Japan, hit 2.1 million!  That’s more than the 2009 H1N1 outbreak.  Now Australian media reporting that New Zealand health officials are getting a little worried.

On February 13, airline passengers, on a plane arriving from Japan, were met by New Zealand health officials who made them undergo health screenings.  Some paramedics were actually dressed in full hazmat gear: “It was like we were radioactive or something. I think it freaked some people out.”-David Turner, passenger

Eventually all passengers were cleared, but the passengers and the crew of the flight say health officials gave them little info about what was going on.  The New Zealand Ministry of Health, and Auckland Regional Public Health Service are refusing to comment.  They’re also refusing to release the results of the health screenings.

Apparently some teenage Japanese passengers, on the Air New Zealand flight, had symptoms like sniffles, and a couple of them threw up.  New Zealand’s hospitals have also been put on high alert.

Business/Economics, International

What Economic Recovery? Bailout deal for Greece taking so long because Germany doesn’t think it will be paid back. Germany preparing for Greece to leave the EU

“We are ready to help. But once again: we have and want only to help if there is something in return from the Greek side.”-Philipp Roesler, German Economy Minister

Early morning February 13, the Greek Parliament approved the latest round of social cuts, despite members of Parliament threatening to quit. The move comes after German Economy Minister, Philipp Roesler, gave a TV interview in which he said it’s all about Greece being able to convince the rest of Europe that they can pay back future bailout loans.

Roesler also implied that Germany and France have been working to position the EU, so if Greece was to exit the European Union (and default) it would not have an adverse affect on the EU.  He said such a move is now “less and less scary”.

Business/Economics, International, U.S.

White Horse, Pale Green Horse & World War 3: South American sanctions are starving out Falkland Islanders

On February 11, 2012, the British Broadcasting Company (BBC) reported that people living on the Falkland (Malvinas) Islands are facing a food shortage, due to economic sanctions brought by several South American countries.

Argentina is upset because the United Kingdom failed to meet a UN resolution to discuss the return of the Islands to Argentine control.  Other South American countries became upset when the U.K. sent a sizable naval force to the Islands. They responded by halting food shipments.

Argentina, Chile, Brazil, and Uruguay, are refusing to allow ships carrying the Falklands’ flag to dock in their ports.

Argentina is threatening to shut down the only air service to the Falklands from South America. That service is provided by Chile, but it must fly through Argentine air space.

The situation has been made worse by the discovery of huge oil deposits, and the involvement of a major U.S. oil company.

I looked and there before me was a pale horse! Its rider was named Death, and Hades was following close behind him.  They were given power over a fourth of the earth to kill by sword, famine and plague, and by the wild beasts of the earth.

I looked, and there before me was a white horse! Its rider held a bow, and he was given a crown, and he rode out as a conqueror bent on conquest.