Category Archives: Business/Economics

Business/Economics, International, U.S.

Corporate Incompetence: Independent investigation into Olympus scandal over, major losses and cover ups

The independent commission investigating Olympus has submitted their report.  The optic company began losing money, and covering it up in 1998.

Losses totaled more than 100 billion yen (about U.S.$1 trillion by today’s exchange rate)!!!

Olympus accountants began covering up the losses after the Japanese government introduced stricter accounting rules.  The report also named Hideo Yamada and Hisami Mori as playing central roles in creating methods of transferring losses to overseas accounts.

From 2006 to 2008, Olympus conducted a series of corporate buyouts and raised 134.8 billion yen with the intention of making up for the losses. However the bookkeeping shell game is illegal.

Olympus has until December 14 to turn over their books to government auditors, or they will be de-listed from the Tokyo stock exchange.

 

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

Global Economic War: U.S. continues investigation into Chinese PV companies. Idaho’s Hoku silicon factory may be ended before it starts. City of Pocatello guilty of the same claims being made against Chinese government. U.S. is new battle ground between Chinese and European companies

The trade war between Chinese photovoltaic companies, and their supposed ‘U.S.’ rivals heats up as the U.S. International Trade Commission votes to continue the Department of Commerce investigation.

I say “supposed ‘U.S.’ rivals” because it turns out the gang leader is owned by a European corporation. Likewise, at least one supposed ‘U.S.’ polysilicon producer is owned by a Chinese corporation.

The U.S. Department of Commerce is set to render a judgment on January 19, 2012.  It could mean that actions will be taken to reduce photovoltaic (PV) products (solar power) coming into the U.S. from China.  China has responded by investigating polysilicon producers in the United States.  Polysilicon is used to make the solar power products.

Hawaii based Hoku International (owned by China’s Tianwei New Energy) announced they will be selling Chinese made photovoltaic modules through a subsidiary called Tianwei Solar USA.  Hoku is about to start up a polysilicon plant in Pocatello, Idaho.  Their silicon buyers are Chinese companies.

So Hoku is set up in a bad position; action by the U.S. government could hurt their new plans to sell Chinese PV products, and retaliation by the Chinese government could hurt their pending polysilicon orders.

But while looking into this mess, I discovered that what’s really going on is an economic war between China and the European Union, with the United States the battlefield.

The U.S. investigation was started by complaints from CASM (Coalition for American Solar Manufacturing).  The lead company in the complaint is SolarWorld Industries Americas.  Their U.S. base of operations is Oregon, but they’re actually a German corporation (SolarWorld) headquartered in Bonn.

CASM’s web site says six other companies operating in the U.S. have joined their organization, but they refuse to name the other members. They also have a interesting slogan (being that SolarWorld is a German company): “Solar technology was invented here [meaning the U.S.], and we intend to keep it here!”

CASM, through the U.S. Congress, recently sent a letter to President Barack Obama (sign by dozens of members of Congress), outlining what they call illegal trade practices by the Chinese government. Some of those practices were employed by the city of Pocatello, in trying to get Hoku to build its long delayed polysilicon factory in Idaho.

One of the claims is that “…cheap or free land from local or provincial governments; extensive tax breaks…”  This is exactly what the city of Pocatello did to win over Hoku.  The land was, in a round about way through huge property tax breaks (equaling the value of the land), given to Hoku.  Union Pacific Railway even got involved.

Union Pacific is going to be the main transporter of the finished polysilicon products.  Recently it was discovered, by Idaho officials, that in the rush (ironic ’cause it’s years behind schedule) to build the factory, that Hoku forgot to build the required double access roads!  Currently the only access to the factory is at the end of a dead end residential street (it was the residents, tired of the traffic jambs, that brought the issue up with officials)!!!  Hoku worked some magic with Union Pacific, who’s agreed to build the access roads.

By the way, one of the individuals credited with bringing Hoku to Pocatello, Gynii Gilliam, is now working at the state level as Idaho’s chief economic development officer.

So, the Europeans (specifically Germans, through CASM) are using the U.S. to launch an economic war with Chinese PV makers, but the charges they’re making against local governments in China are also applicable to local governments in the U.S.!  The pot calling the kettle black.  Unfortunately many ‘mericans (‘specially those working for Hoku, and other polysilicon producers) could actually end up losing their jobs if CASM is successful.

GLOBAL ECONOMIC WAR: CHINESE OWNED HOKU ABOUT TO START OPERATIONS IN IDAHO. WILL U.S. INVESTIGATION INTO CHINESE SOLAR PRODUCTS PUT THE BRAKES ON HOKU’S OPERATIONS?

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

What Econmic Recovery? Fox cuts ties with Idaho TV station, ends local newscasts, Merry Xmas!

Southwestern Idaho’s KRTV, channel 12, is no longer a Fox affiliate, and it has ended its Boise area news coverage.

“In the spring of 2011, the Fox Television Network and Block Communications parted company. Although we did offer to sign a new affiliation agreement with Fox for KTRV, they chose to move the affiliation to another station.  A network affiliate requires a different business model than does an independent station.  As a result a reduction in staff is taking place this week.”-Bill Lamb, Block Communications

General manager of KRTV, Rick Joseph, said “We have some exceptional people here who put forth a terrific and honorable effort every day.  But the new business model we find ourselves having to adopt does not include news.”

Employee layoffs began December 5.

Merry Xmas!

Business/Economics, International

United Police Kingdom: England’s August riots blamed on Bobbie Brutality

A study to find out the main causes for the August 2011 riots that hit several locations in England, revealed a surprise. Economic factors were not the number one reason, police brutality was!

The London School of Economics, along with the Guardian newspaper, conducted a study called Reading the Riots. 85% of those surveyed blamed the riots on the British Bobbies, saying the police hold themselves about the law.

The biggest complaint against the police is the constant detentions and harassment of lower class people, who’re never charged with any crime. Then comes the beatings and shootings by police.  Over the decades hundreds of civilians have been killed by Bobbies.

The August riots were started because the Bobbies shot and killed an unarmed father while he sat in the back of a taxi.  The cops claimed he shot first, and that a shootout took place. However, the dumb cops committed the act on a crowded street, and many witnesses countered the police claims. An independent investigation concluded that the Bobbies shot and killed the man without provocation!

On the first night of what started out as peaceful protests, the Bobbies singled out a teenaged girl because she was berating them for killing the man. They beat her. Video of the beating was posted on the internet.  Their beating of the girl is what started the riots.

To be sure, economics was also a factor in the August riots. For young Brits they were upset over the ending of a public allowance for children who stay in grade school, and, the tripling of college tuition.  The Reading the Riots study discovered that it was the older Brits who rioted over police brutality.  Many said they want vengeance for decades of repression at the hands of the Bobbies!

And it’s not over, four out of five respondents say more riots are coming for the United Police Kingdom!

By the way, violent protest does work. It forces the Elites to spend money fighting a war on the home front.  After all, they ain’t gonna spend that money on helping create jobs, and that’s what makes them Elites, they don’t want to spend their money (so much for trickle down economics).

Business/Economics, International

United Police Kingdom: Scotland Yard says Occupy demonstrators are equal to al Qeada!

“It is likely that activists aspire to identify other locations to occupy, especially those they identify with capitalism. City of London Police has received a number of hostile reconnaissance reports concerning individuals who would fit the anti-capitalist profile. All are asked to be vigilant regarding suspected reconnaissance, particularly around empty buildings.”-Terrorism/Extremism update for the City of London Business Community

A document leaked from the London Metropolitan Police (Scotland Yard) shows they consider the Occupy movement a terrorist organization equal to al Qeada!

The document, titled Terrorism/Extremism update for the City of London Business Community, was leaked to Occupy LSX demonstrators by an unnamed businessman.

“Activism is not a crime and the desire to participate in democratic decision-making should not be a cause for concern for the police in any free society….An institution that confuses active citizens with criminals and equates Al Qaeda with efforts to re-imagine the city is an institution in grave danger of losing its way.”-Occupy LSX response

There are at least three active Occupy London movements currently taking place, including the Occupy LSX movement.  LSX stands for London Stock Exchange.

 

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service cuts officially (almost) done deal, will “move forward” with austerity measures, Merry Xmas!

As promised, the U.S. Postal Service made its dreaded announcement on December 5.  The USPS filed a request with the Postal Regulatory Commission to “move forward” with austerity measures that will not only cut back service, but eliminate hundreds of thousands of jobs.

“We’re in a deep financial crisis today because we have a business model that’s tied to the past [ie Congress]. We are expected to operate like a business, but don’t have the flexibility to do so [because of rules created by Congress]. Our business model is fundamentally inflexible [no thanks to Congress]. It prevents the postal service from solving its problems.”-Patrick Donahoe, U.S. Postmaster General, November 2011

The plan, supported by the Obama Administration, calls for cutting U.S.$20 billion from operating costs by 2015.  That means closing 252 processing facilities, closing 3,700 post offices, and eliminating 100,000 jobs!!!

The processing centers will be closed by spring 2012.  Job losses just from the closing of processing centers could hit 28,000! Expect delays in getting your mail.

This after the U.S. Congress decided to ‘delay’ any action on their part until after next year’s Presidential elections.  The move guarantees the demise of the USPS, because President Barack Obama set the default date for the Postal Service as December 16, 2010.

In a PBS interview, both the Postmaster General, and the President of the Letter Carrier’s Union said it wasn’t really about lack of business, in fact the Postmaster General said package volume was still good.  It was all about the U.S. Congress ripping off the non-taxpayer funded Postal Service: “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.”- Fredric Rolando, president of the National Association of Letter Carriers

Rolando pointed out that the job losses will go beyond the USPS. It will affect all the companies the USPS contracts with, like FedEx, Siemens, Northrop-Grumman, Pat Salmon & Sons and Campbell-Ewald, to name a few.

Rolando, in the PBS interview, predicted that millions of jobs will eventually be lost because of what’s happening to the USPS!

Merry Xmas Mr. Scrooge, and God bless us, everyone!

 

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

Government Incompetence: Fluoridated water blamed for Dumbing Down Americans and causing chronic unexplained pain, blame the nuclear and pharmaceutical industry

“We have been suffering from various diseases for consuming water with fluoride content. We are desperately in need of pure drinking water.”-residents of Jagalur, India

Yet another study proves that fluoridated water makes you stupid, and can cause a life time of pain!

The latest study was conducted in India, and just published in the Journal of Medical and Allied Sciences.

Rats were used, and the results were neurodegenerative and morphological alterations in the neocortex, hippocampus and cerebellum areas of the brain, and in the spinal cord and sciatic nerve.

Neurodegenerative is the progressive loss of neurons, and “morphological alterations” basically means physical mutations.

Researchers say the negative affects with intelligence and pain take place before physical mutations appear: “High levels of fluoride in drinking water (1-12 parts per million) affect central nervous system directly without first causing the physical deformities of skeletal fluorosis.”-K. Pratap Reddy, Osmania University, Hyderabad, India

This is not the first study to say fluoride is bad for you.  Over the decades dozens and dozens of studies across the world have resulted in the same conclusion.  According to the Fluoride Action Network (FAN), there are now 25 studies showing that fluoride makes you stupid.

Studies have also shown a link between arthritis pain, back pain, joint and muscle pains. The research in India was motivated after people in a village named Jagalur, were found to be suffering from all kinds of diseases and chronic conditions. Investigations blamed the fluoridated water.

It’s not just Jagalur.  Joint pains, teeth problems, muscular pains, stomach pain and headaches are common among people in Gollaratti, Rajnatti, Gidnatti, Bullolli, Machikere, Marajanmatti, Kechhanahalli, Devikere, Chadaragolla, Gowripura, Kyasanahalli and many other villages who’s water has fluoride in it.

However, the problem in India comes from naturally occurring fluoride in their well water.  Here in the United States local and state governments purposely add fluoride to the water.

It turns out that currently, only the English speaking countries add fluoride to public drinking water.  In the book The Fluoride Deception, author Christopher Bryson revealed how the push for fluoride use in the U.S. is directly related to the U.S. nuclear program and the pharmaceutical industry.

It turns out there have been many anti-fluoride lawsuits against local municipalities in the United States, however most have not been successful.

Now lets see, English speaking countries are the only ones that intentionally add fluoride to the drinking water, and there’s been a huge increase in chronic pain, and the use of pain killers, among the people of those English speaking countries. Also, there’s been a huge decrease in the overall level of intelligence, no matter how much taxpayer money has been thrown at education programs. And, have you also noticed that the political, business, social and religious leaders of those English speaking countries seem to be making decisions that are more and more irrational? Mmmm, could it be something in the water?

 

Business/Economics, U.S.

Government Incompetence in the United Police States of America: TSA bullies strip search 85 year old, ban pregnant woman with studded purse!

“I was on the phone all the way to Orlando trying to figure out what was going on with her. It was terrifying. I don’t ever want to go through it again.”-Tami Gibbs, mother of TSA victim

Despite promises of improved, and more respectable security screenings, the Transportation  Security Administration continues to behave like a bully.  In one case they forced an 85 year old woman to strip, and banned a pregnant 17 year old from boarding the plane because of the design on her her purse!

“It’s my style. It’s camouflage. It has an old western gun on it…She was like, ‘This is a federal offense because it’s in the shape of a gun.’ I’m like, ‘But it’s a design on a purse. How is it a federal offense?'”-Vanessa Gibbs, banned because of purse design

Gibbs says she was told by TSA officials, in Norfolk, Virginia, she could not get on the plane with her studded purse, because it also has the image of a revolver.  They claim a federal law says you can not have anything that represents weapons on an airliner. In Gibbs’ case the TSA officials called her purse a ‘replica weapon’!  Doesn’t that violate our right to Freedom of Expression?

In another recent case, 85 year old Lenore Zimmerman said she was called a terrorist: “I walk with a walker. I really look like a terrorist. I am tiny. I weigh 110 pounds, 107 without clothes, and I am strip searched.”

The strip search took place at the JFK airport.  Zimmerman says they forced her to strip search because she refused to go through scanners with her defibrillator.

She says she asked to be patted down instead, but the TSA officer refused.  During the search her walker hit her leg and caused bleeding. Medics were called.

TSA officials are flat denying they strip searched her: “While we regret that the passenger feels she had an unpleasant screening experience, TSA does not include strip searches as part of our security protocols and one was not conducted in this case.”

It’s interesting that the TSA makes that claim because it seems to be a common offense reported by TSA victims.

 

 

 

Business/Economics, International, Technology

Government & Corporate Incompetence: TEPCo says new radiation leak is pouring Strontium into the Pacific Ocean

On December 4, Tokyo Electric says they found a leak in a desalinization unit.  It’s not a small leak, so far 45 tons of contaminated water has poured out.

What’s really interesting is that the de-salting unit is supposed to be treating water that had already had radioactive contaminants removed.  TEPCo is saying the water is contaminated with 130,000 becquerels per cubic centimeter of strontium!

Company officials say it is highly likely that the strontium contaminated water made it into the Pacific Ocean, because there is a drainage ditch nearby leading to the ocean.  It’s most likely strontium 90, which has a half life of 28.8 years, and causes many cancers including bone cancer.

TEPCo also made confusing statements; one said workers had checked the unit just 21 hours prior and found no signs of leaking, but then in another statement TEPCo officials admitted they did not act fast enough (a now typical trait of TEPCo management) as it was known that water was building up inside the unit, but they thought it would not leak out.

TEPCO says it will take them two weeks to improve their leak detection of the water treatment units.

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service forced to close hundreds of processing centers and thousands of post offices, Merry Xmas!

On December 5, the U.S. Postmaster General will announce detailed austerity cuts for the USPS.  This after the U.S. Congress decided to ‘delay’ any action on their part until after next year’s Presidential elections.  The move guarantees the demise of the USPS, because President Barack Obama set the default date for the Postal Service as December 16, 2010.

It’s expected that part of Monday’s announcement will include the closing of 250 processing centers across the U.S., as well as 3,700 post offices!  It could also mean the end of Saturday delivery. The austerity cuts would begin in the spring of 2012.  It’s a sure thing that mail service will be much slower as a result.

By the way, don’t think this is going to save taxpayers money, it wont. The Postal Service operates on money that comes from you and me buying postal products, not taxes!