Category Archives: Business/Economics

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s Coldwater Creek still struggling, $124 million in losses, former employee leaves to start her own company. Forget Coldwater Creek keep your eye on Meesh & Mia

According to some reports, Idaho based Coldwater Creek finished 2011 with a net loss of at least $124 million!  They also saw a 20% drop in sales in their last quarter of 2011, after a 28% drop in sales the quarter before that!

The problem seems to be that Coldwater Creek’s prices, and quality of goods, are targeted to mid range consumers.

One big factor with this bad economy is that the middle class is shrinking, with some lucky to make it to the upper classes, but most ended up in the lower classes.  As a result consumer spending is matching that trend.  Only low end and high end retailers seem to be doing better.  Those retailers still catering to mid level consumers are suffering.

On January 3, the Coeur d’Alene Press wrote about Elizabeth Turley, a former Coldwater Creek and Chico’s employee, who started her own clothing business in Sandpoint, Idaho.

The company is called Meesh & Mia, and is targeting consumers that Coldwater Creek probably should have; young college women.  Meesh & Mia focuses on providing fashionable women’s clothing with university logos, and with the bad economy pushing a lot of women into college, business is booming.

Up ’till Meesh & Mia, most college clothing was targeted towards men and athletes.  But Turley also credits exposure in the national media with her company’s success, and blames the national media for troubles at Chico’s and Coldwater Creek: “It was kind of funny, because I had tried without any success when I was at Chico’s and again at Coldwater Creek to get placement on the Today Show.  And then here we were, little Meesh & Mia, making a debut. Kathy Lee and Hoda touched our product and the guest, a Southern Living editor, ever so briefly said, “great companies like Meesh & Mia.'”

Some stock analysts tried to end 2011 by sounding upbeat about Coldwater Creek, but it looks like Meesh & Mia is where to invest your money.  Turley expects to double her employees in 2012, as well as expand her customer base by adding 135 colleges and universities to her client list.

“It’s remarkable that no one has done this before! We’re certain that others will follow our lead, but it’s a $10 billion market, so there’s room for competition.”-Elizabeth Turley, Meesh & Mia founder

 

 

 

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

White Horse, Black Horse, Red Horse & Political Hypocrisy: Obama signs record military spending bill, then says spending needs to be cut. What he means is to cut spending on troops, increase spending on weapons. 80,000 soldiers will lose their jobs. More Wars to follow

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.

I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

Then another horse came out, a fiery red one. Its rider was given power to take peace from the earth and to make men slay each other.

On January 1, U.S. President Barack Obama signs the National Defense Authorization Act for Fiscal Year 2012.  That means at least $662 billion taxpayer dollars will be spent on the Department of Defense.

On January 5, Obama hypocritically states that defense spending must be cut! He blames it on “…the Budget Control Act passed by Congress last year.”

But here’s the thing, Obama is not really talking about overall defense spending cuts, he’s talking about shifting defense spending, and targeted cuts.  U.S. troops could lose out on pay and benefits, in order to increase spending on high tech weapons systems.  They’re already losing their jobs.

“As we reduce the overall defense budget, we will protect and in some cases increase our investments in special operation forces in new technologies, like…. unmanned systems, in space and in particular in cyberspace.”-Leon Panetta, Defense Secretary

Obama and company said the cuts would not affect pay and benefits for troops and veterans, but that’s already happened.  There are many cases across the country where veterans have been cut off because of budget problems.

Analysts say there’s no way to keep spending on high tech weapons without affecting troop pay/benefits, or even without reducing the number of military personnel (already in 2011 the U.S. Army laid off 50,000 personnel).

According to a report by Military.com Leon Panetta has asked the U.S. Army to cut another 80,000 troops in 2012!

That’s fine if your not going to fight wars anymore, but Obama and company flat lied about that.  Obama said “Yes, the tide of war is receding…”   Well, if the tide of war is receding then why spend more money on more weapons?  Because the tide of war is not receding, at least in the eyes of our leaders.  Obama even says so: “As I made clear in Australia, we will be strengthening our presence in the Asia Pacific, and budget reductions will not come at the expense of that critical region.  We’re going to continue investing in our critical partnerships and alliances, including NATO, which has demonstrated time and again, most recently in Libya, that it’s a force multiplier.  We will stay vigilant, especially in the Middle East.”

What Obama is saying is that the he expects more war in the Middle East, and a new front to open in Asia!  Defense Secretary Panetta backs that up: “…as we move towards this new joint force, we are also rebalancing our global posture and presence, emphasizing the Pacific and the Middle East — these are the areas where we see the greatest challenges for the future. The U.S. military will increase its institutional weight and focus on enhanced presence, power projection, and deterrence in Asia-Pacific. This region is growing in importance to the future of the United States economy and our national security. ”

Business/Economics, U.S.

Black Horse & Political Incompetence: “Conservative Christian” Rick Perry spends $1.4 million in taxpayer money running for President, while Texas burns and people starve in Texas Prisons

I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

Texas Governor Rick Perry has spent at least $1.4 million of Texas taxpayer’s money on his campaign for President of the United States.  What’s the money being spent on? Security, travel, lodging and food!

“…what are they eating? How many people are there? $4,400 in one meal? Jesus, lord, mercy, how much food can you eat?”– Cenk Uygur, The Young Turks

Between just September and December of 2011, $400,000 of taxpayer funds went towards security.

Other expenses include $32,000 worth of lodging while in San Francisco, $4,400 dinner tab in Simi Valley and $6,400 for a flight out of San Diego!

To add insult to taxpayer injury, ‘christian’ Rick Perry and his cohorts cut funding for Texas firefighters, right at a time when almost the whole state of Texas was burning (then he tried to blame Obama for not helping Texas fight the fires!).  Also, he cut funding for Texas prisons so drastically that they now get the equivalent of only two meals per day (welcome to the United Police States of America)!

Perry tried to justify the charging of his campaign expenses to the Texas taxpayers: “I’m going to be promoting Texas. I’m going to be traveling to places where the Texas story needs to be told, and we will tell it.”-Rick Perry

 

Business/Economics, Technology, U.S.

Government & Corporate Incompetence: Ohio suffering mass earthquakes, officials blame Fracking. Not the first time; Arkansas blamed Fracking on increased quakes back in July

“The earthquakes will trickle on as a kind of a cascading process once you’ve caused them to occur. This one year of pumping is a pulse that has been pushed into the ground, and it’s going to be spreading out for at least a year.”-John Armbruster, Columbia University’s Lamont-Doherty Earth Observatory

On New Year’s Eve, Ohio had a 4.0 quake.  It’s part of many quakes the state has suffered since March 2011.  Now state lawmakers are banning the energy industry’s practice of Fracking.

Energy companies inject chemically heavy water, under extreme pressures, deep into the ground.  It releases natural gas from shale. The gas is used mainly for the oil industry’s hydrogen cracking process, which makes fuels cleaner burning.

For a long time it’s been claimed that fracking pollutes underground water sources, but the industry has successfully fought off such claims.  Another claim is that it could cause earthquakes.

Now, seismologists with the U.S. Geological Survey have testified to Ohio officials that the state’s unusual quake activity is directly related to fracking wastewater injection.

In July, the Arkansas Oil and Gas Commission banned  fracking wastewater injection, because of increased earthquake activity.

Energy companies doing the fracking are taking their wastewater and injecting it deep into underground sand deposits, to get rid of it.  Scientists say the problem is that the companies have overshot the underground sand beds, and are basically pressurizing fault lines.

Business/Economics, International, U.S.

Global Economic War: China’s strong economy can not exist without outside supplies, like oil from Iran

Chinese officials reporting that their country is the biggest consumer of natural resources in the world, and most of those resources come from outside China.

Zhang Ping, director of the National Development and Reform Commission, said China uses double the world average in energy (based on GDP).  Also, more than 50% of China’s petroleum and iron ore comes from other countries (like Libya and Iran in the case of oil).

Still, the amount of energy usage is far behind China’s incredible economic growth: Domestic economic growth averaging an annual rate of 11.2%, while energy consumption remains at 6.6%.

 

Business/Economics, Idaho, U.S.

Some Hope for 2012: East Idaho finally gets its first two Carl’s Jr! Part of 51 store expansion!!!

December 31, 2011, and I just ate at the first Carl’s Jr burger joint in eastern Idaho! Love those Western Bacon Cheeseburgers (been eating them since the early 1980s!), and those luscious teriyaki burgers!

No more finding excuses to travel more than an hour to get Carl’s Jr.  Although I still have to drive 45 minutes to Idaho Falls, but pretty soon, I hope, there’s gonna be Carl’s Jr in the Pocatello area.  That’s according to a 2008 press release.

carl's jr

New Carl's Jr Resturant, Grand Teton Mall, Idaho Falls

One of the new east Idaho Carl’s Jr is located in the Grand Teton Mall parking lot, across from the Barnes & Noble.

There is a second Carl’s Jr in Idaho Falls, located at the intersection of Holmes and Northgate mile. I think they were a little overwhelmed; they were out of large size cups, and they just ran out of five dollar bills on the day I tried them out.

According to a 2008 press release eastern and southeastern Idaho will get five more Carl’s Jr by 2014.  The new restaurants will be spread from Pocatello to Idaho Falls.

carl's jr

Carl's Jr, Idaho Falls, Idaho

The new restaurants are part of a huge expansion by California based Carl’s Jr.  In December, 2008, Carl Karcher Enterprises announced they signed franchise deals for 51 new stores!  Those new stores will be concentrated in Nevada and Idaho.

East and southeast Idaho will get a total of six restaurants, southern Idaho (Twin Falls area) will get three, and the Boise area (southwest Idaho) will get three more on top of the stores already there.

I noticed east Idaho’s local media paid no head to the new Carl’s Jr, but was all over the new Chick-fil-A (I’ve eaten at a Chick-fil-A in Georgia, never again).

Mmmm, how many Chick-fil-A stores will open in east Idaho, oh just the one in Ammon? (I checked Chick-fil-A’s list of future store openings) Lets see, Carl’s Jr opening a total of six stores in east and southeast Idaho (as well as new stores in south and southwest Idaho), I can see who’s gonna be helping the local economy more.

(By the way you can print off coupons from the Carl’s Jr website)

Business/Economics, International, U.S.

What Economic Recovery? Foreign banks dumping U.S. Treasury Bonds

Late on December 30, the U.S. Treasury announced that the dumping of U.S. bonds, by foreign banks, continues and is accelerating.

Back in September the Treasury revealed a $56 billion drop in U.S. Treasury holdings by foreign banks, resulting in a 10 year yield of only 1.67%, the lowest yield since 1945!

Now, for December, an even bigger drop, by $69 billion!!! The result is that the 10 year yield on U.S. Treasuries ended 2011 below 1.9%.

Treasury Department officials also admitted that if it wasn’t for Japan buying up U.S. dollars and other Treasury securities (in August and October), the drop in 2011 foreign holdings would be even bigger!

And this despite the Treasury’s attempt to increase sales through their Operation Twist.  Operation Twist basically exchanges long term bonds for shorter term bonds.

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

Corporate Incompetence: Voting with your wallet works; Verizon reverses $2 fee, GoDaddy does one eighty on SOPA

A day after announcing a $2 one time bill payment credit/debit card fee, Verizon reversed course after being flooded with thousands of complaints, and threats to cancel service.

However, Verizon officials are keeping such a fee in mind for the future: “At Verizon, we take great care to listen to our customers. Based on their input, we believe the best path forward is to encourage customers to take advantage of the best and most efficient options, eliminating the need to institute the fee at this time.”– Dan Mead, Verizon CEO

GoDaddy has been losing domain names ever since it voiced support for SOPA (Stop Online Piracy Act).  According to one source, 32,000 websites, in 36 hours, were transferred away from GoDaddy’s service. Keep in mind GoDaddy lost thousands of domain names even after they publicly reversed course, now officially opposing SOPA!

One reason that GoDaddy is still losing customers is because it’s involved in rogue website/domain lawsuits, in which federal courts have been using GoDaddy to hold web sites that’re being challenged in court.  Most of those sites are being transferred, by court order, from Google and Yahoo to GoDaddy.  In many of these cases the accused never have their day in U.S. courts because they live in another country.

The lesson is that consumers, like voters, must never let their guard down.  Corporate America is not working for your best interest, they’re working for their best interest.

 

Business/Economics, International, U.S.

World War 3: Egyptian police discover evidence of U.S. plot to destabilize their country, pro-U.S. Egyptian Army interferes

“The Secretary expressed his deep concern about the raids that took place on December 29 on the offices of American and other NGOs.”–George Little, Pentagon

On December 29, Egyptian police and court officials raided several non-governmental organizations (NGO), many supported with taxpayer dollars from the United States, on grounds they’ve been funding civil unrest in Egypt.

However, Egypt’s pro-U.S. military government stopped the raids after getting phone calls from U.S. Secretary of Defense Leon Panetta, and U.S. Ambassador Anne Patterson.

“…all international NGOs, including those that receive U.S. government support, (to) be able to return to normal operations as soon as possible…”-Victoria Nuland, U.S. State Department

The military government of Egypt has demonstrated they are the puppet of the United States, by their quick kowtowing to U.S. demands concerning U.S. taxpayer funded NGOs.

Business/Economics, U.S.

Corporate Deception: Mitt Romney’s Bain Capital gives campaign money to Romney and Barack Obama

You’d expect the company that Mitt Romney co-founded to fund his presidential campaign, but not to fund President Obama’s re-election bid, but that’s what is happening.

It’s been revealed that between January and September 2011, employees of Bain Capital officially gave Mitt Romney $84,500, and, they gave Barack Obama $27,500!

Not only that but so far this year, Bain Capital employees donated $123,200 to the Democratic National Committee.  Interestingly they’ve not donated any money to the Republican National Committee.  However, they did donate to a pro-Romney super PAC; $1.25 million!

To be sure, employees of Bain Capital, and other affiliated companies, have sent 75% of this years election campaign donations to the Republicans.  But, in the 2008 campaigns two thirds of their money went to Democrats!  Mmmm.

They say follow the money to get your answers, so if it matters who and where a presidential candidate gets their money from then it looks like Mitt Romney will be President.   After all, Bain Capital & Co supported Obama and the Democrats more than Romney in 2008, now it’s the other way ’round.

This is just more evidence that ‘our’ leaders are just two sides of the same coin.

Donation amounts compiled by the Center for Responsive Politics.

Corporate Evil: SEARS & KMART CONNECTED TO ROMNEY’S BAIN CAPITAL! BAIN CAPITAL WORKING WITH CARLYLE GROUP!