Category Archives: Business/Economics

Business/Economics, Idaho, U.S.

What Economic Recovery? East Idaho airline service shuts down, just in time for Xmas! No more taxpayer subsidy?

Beginning December 31, no more SeaPort Airline flights from Idaho Falls to Boise.

SeaPort Airlines only started the route back in July, and of course local east Idaho officials touted it as a sign of local economic recovery.  Airline officials say they will try to issue refunds for people with tickets for after the December 31 shut down.

SeaPort Airlines is based in Portland, Oregon.  The ending of their Idaho Falls route is a surprise, especially since on November 14 it was reported that they were in the running for a Federally funded route from Jackson, Tennessee, to Nashville, Tennessee.

So far there is no official explanation for the cancellation of the Idaho Falls to Boise route.  Could it have something to do with Federal lawmakers voting to eliminate airline subsidies for regional airport routes that are within a 90 miles (144 kilometers) radius of a major metropolitan airport?

 

 

 

Business/Economics, Idaho, U.S.

Occupy Corporate Prisons, United Police States of Corporate America! Protestors shut down Wells Fargo, because of direct links to corporate prisons, Idaho politicians in the pockets of corporate prisons

On December 2, protestors in Washington DC temporarily shut down the Wells Fargo office.  The reason is that Wells Fargo is a major player in financing corporate prisons.

The OWS protesters say banks like Wells Fargo are profiting from the contracted management of state ‘correctional’ institutes, such as GEO Group managing the Rivers Correctional Institution in North Carolina.

Wells Fargo also supports Corrections Corporation of America, which runs a prison in Idaho known as Gladiator School.

Wells Fargo is also the biggest bank in Idaho.  Reports say Wells Fargo owns 4 million shares in Geo Group, the second largest U.S. private prison corporation, and 50,000 shares in the number one private prison operator, Corrections Corporation of America (CCA).

Also of interest, Idaho politicians, most of them republicans, receive donations from CCA (supported by Wells Fargo).

Here’s a long list:

Eric Anderson (R): $250.00 in 2008

Steven R. Bair (R): $750.00 combined 2006 & 2008

Clifford R. “Cliff” Bayer (R):  $1,550 combined 2006 & 2008

Scott Bedke (R):  $500.00 combined 2006 & 2008

Maxine T. Bell (R):  $1,050 combined 2006 & 2008

Carlos Bilbao (R): $250.00 in 2008

Dianne Bilyeu (D): $250.00 in 2008

Max C. Black (R): $250.00 in 2008

Darrel Bolz (R):  $1,300 combined 2006 & 2008

Bert Brackett (R): $250.00 in 2008

Joyce M. Broadsword (R): $1,050 in 2008

Mike Burkett (D):  $500.00 in 2006

Dean L. Cameron (R): $750.00 in 2008

Marge Chadderdon (R): $250.00 in 2008

James W. Clark (R): $500.00 in 2008

Denton Darrington (R):  $800.00 combined 2006 & 2008

Bart M. Davis (R): $550.00 in 2006

W.W. “Bill” Deal (R):  $750.00 in 2006

Lawerence E. Denney (R): $750.00 combined 2006 & 2008

Julie Ellsworth (R): $250.00 in 2008

George E. Eskridge (R): $500.00 in 2008

Debbie Field (R): $250.00 in 2006

Russell M. Fulcher (R): $1,300 combined 2006 & 2008

Robert L. Geddes (R): $250.00 in 2006

John W. Goedde (R): $500.00 in 2008

Jim Guthrie (R): $500.00 in 2006

Jim Hammond (R): $500.00 in 2008

Phil Hart (R): $250.00 in 2008

R.J. “Dick” Harwood (R): $1,300 combined 2006 & 2008

Margaret Henbest (D): $300.00 in 2006

Frank N. Henderson (R): $750.00 combined 2006 & 2008

Brent Hill (R):  $300.00 in 2006

Mike Jorenson (R): $750.00 combined 2006 & 2008

Kate Kelly (D): $250.00 in 2008

Dirk Kempthorne (R):   $2,500 in 2006

Shawn A. Keough (R):  $1,500 combined 2006 & 2008

Richard D. Kirkham (R): $500.00 in 2006

Steven A. Kren (R): $500.00 in 2008

Raul R. Labrador (R): $250.00 in 2006

Dennis M. Lake (R): $250.00 in 2008

Brad Little (R): $750.00 combined 2006 & 2008

Patti Anne Lodge (R): $1,500 combined 2006 & 2008

Janice McGeachin (R): $500.00 in 2008

John McGee (R): $1,300 combined 2006 & 2008

Shirley McKague (R): $250.00 in 2008

Mike Moyle (R): $1,000 combined 2006 & 2008

Pete Nielsen (R): $300.00 in 2006

C.L. “Butch” Otter (R): $10,000 in 2006

Monty J. Pearce (R): $550.00 in 2006

Ken A. Roberts (R): $250.00 in 2008

John Rusche (R): $250.00 in 2008

Mack G. Shirley (R): $250.00 in 2008

Kathy Skippen (R): $800.00 in 2006

Elaine Smith (D): $250.00 in 2008

Dean E. Sorensen (R): $250.00 in 2008

Joe Stegner (R): $500.00 combined 2006 & 2008

Gerry Sweet (R):  $1,000 in 2006

Richard Wills (R): $250.00 in 2008

Chuck Winder (R): $250.00 in 2008

Fred Wood (R): $500.00 in 2008

Joan E. Wood (R): $250.00 in 2008

Becky Young (R): $250.00 in 2008

Not one Idaho third party candidate took money from CCA!

 

Business/Economics, International, U.S.

World War 3: U.S. troops evacuating from Pakistan

On December 4, U.S. forces began evacuating Pakistan’s Shamsi air base, after the Pakistani government, backed by China, gave them 15 days to get out or else.

Local Pakistani TV stations reported seeing U.S. forces leaving the air base. Their reporters observed U.S. transport aircraft landing at the base, and U.S. personnel loading luggage and equipment on the planes.

GEO also reported that security around the air base has been increased.

To try and convince the Pakistani government to change its mind, the foreign minister of UAE paid a visit to Pakistani President, Asif Ali Zardari. He said no.

Also, German Chancellor Angela Merkel, U.S. Secretary of State Hillary Clinton and Afghan President Hamid Karzai, tried to get Pakistani Prime Minister Yusuf Raza Gilani to change his mind about boycotting the Bonn Conference. He said no.

Pakistan’s embolden anti-U.S. stance comes after making new deals with China, increasing Chinese military support for Pakistan.

 

Business/Economics, International, U.S.

Global Economic War: Get ready for stocks to crash! China continues ping pong games with European & U.S. bail outs, now says No Way!

“The argument that China should rescue Europe does not stand, as reserves are not managed that way…China’s purchases of European bonds, International Monetary Fund bonds and U.S. bonds are also based on those principles.”-Fu Yin, Vice Foreign Minister of China

Back on November 28, the Commerce Minister of China, Chen Deming, said they were more than willing to save struggling economies: “Some European countries are facing a debt crisis and hope to convert their assets to cash and would like foreign capital to acquire their enterprises. We will be closely watching and pushing forward the progress.”

Now, December 3, an official higher up than Chen says no way.  The Vice Minister of China, Fu Yin, says China’s $3.2 trillion in foreign reserves should be managed under the principles of “safety, liquidity and proper profitability”.

Apparently bailing out the United States, European countries, or even the IMF, does not meet those requirements.

Fu restated a requirement for future bailouts, that Chen indicated a week ago; any bail outs must play by China’s rules: “Successful investment should be reciprocal.”

 

 

Business/Economics, International

Government Incompetence: 25,700 Brits froze to death because they could not afford to heat their homes! Charles Dickens where are you?

“According the national office of statistics, there were 25,700 deaths relating to fuel poverty in 2010-11, this is shameful. And sadly is likely to rise in line with the fuel poverty figure increase.”-Mike Jeram, UNISON, the U.K.’s biggest public sector trade union

According to U.K. government reports, the number of people who can not afford to heat their homes, called fuel poverty, makes up about one quarter of the British population, an increase from the previous winter.

“The government has yet again made false promises, as it looks likely to fail its legal duty to end fuel poverty by 2016….the government is pushing people further into poverty with its austerity agenda!”-Mike Jeram

The Institute of Fiscal Studies predicts that British households’ incomes in 2015 would be worse than their income in 2002!

Business/Economics, International, U.S.

World War 3: Iran shoots down U.S. unmanned aerial vehicle, China says it will support Iran even if it means the Third World War, part of recent moves towards War

“Iran’s military has shot down an intruding RQ-170 American drone in eastern Iran.”-Iranian government statement

In the early morning hours on December 4 (U.S. time), the Iranian military shot down a U.S. unmanned aerial vehicle (UAV).  The U.S. RQ-170 Sentinel stealth drone is used for intelligence, surveillance and for target acquisition.

An unnamed Iranian military official said Iran will take action against all foreign UAVs, even those outside Iran’s borders: “…the operational and electronic measures taken by the Islamic Republic of Iran’s Armed Forces against invading aircraft will not remain limited to Iran’s borders.”

This is part of a quickening pace of actions on all sides that look like war is inevitable.

Just before Iran shot down the U.S. UAV, officials with the People’s Liberation Army National Defense University (China’s equivalent to any of the U.S. military academies) announced full military support of Iran: “China will not hesitate to protect Iran even with a Third World War.”-Major General Zhang Zhaozhong

Just this past week the U.S. Treasury Department asked all nations to stop buying oil from Iran (a futile move I pointed out).  If anyone really knows the ‘why’ of why Japan attacked the United States on December 7, 1941, it is because the U.S. stopped all oil sales to Japan. At that time the U.S. was the world’s main supplier of oil.

Just a few days ago the Japanese government responded to the current request from the U.S. Treasury by saying that out of necessity they can not stop buying Iranian oil.  Currently nearly 10% of the oil Japan gets comes from Iran. With more than 80% of their nuclear power plants off line, Japan’s need for petroleum is skyrocketing: “We need to be very careful in making such a decision, given that our priority is securing energy supply in the aftermath of the massive earthquake.”-statement from Japan’s Ministry of Foreign Affairs

I also pointed out that the result of such an oil ban would actually hurt us little guys: “As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel.”-Ramin Mehmanparast, Iran’s Foreign Ministry

Also in the past week, the United Kingdom cut off all diplomatic ties with Iran, after Iranian protestors took control of the British Embassy in Tehran (on November 29, U.S. time).  This despite the  fact that Iranian police arrested at least 12 of the protestors, and Iran officially apologized. Western governments, and media refused to report the apology but Spanish officials confirmed it:  “He said he was aware that it had violated the Vienna Convention and for that reason he was passing on to his apologies.”-Trinidad Jimenez, Foreign Minister of Spain

Even British officials admitted that Iran apologized, but said they didn’t care: “…this remains a very serious failure by the Iranian government.”-William Hague, Foreign Secretary of the United Kingdom

U.S. Vice President, Joe Biden, said there’s no proof that the Iranian government was behind the U.K. embassy take over: “I don’t have any indication how and or if it was orchestrated.”

The U.K. has thrown out all Iranian diplomats in Britain, and Iran has now done the same with British diplomats.

Norway also closed their embassy in Tehran, temporarily. They re-opened their embassy on December 1.

On December 1, former Assistant Counsel of the U.S. House Judiciary Committee, Franklin Lamb, said Iran was being set up for inevitable war: “The other side (the UK) is provoking them (Iranian government). Hopefully the Tehran government will not fall in some of these traps that I think are being laid for it in a very dangerous way.”

On December 3, Iraqi Prime Minister, Nouri al-Maliki, said he would not allow the U.S. to use Iraq as a base for attacking Iran: “Clearly we are no enemy to Iran and we do not accept that some who have problems with Iran would use us as a battlefield.”

Recently al-Maliki was the target of an assassination bomb.

On December 2, U.S. Defense Secretary, Leon Panetta, said Iran is “a very grave threat to all of us”, and, any threat to the shipping of oil out of the Persian Gulf was the “red line” that would cause the U.S. to attack Iran.  Iran has warned that if they are threatened they will close the Strait of Hormuz, blocking all shipping from the Persian Gulf.

Also on Decmber 2, Russia’s ambassador to the United Nations, and current Security Council President, Vitaly Churkin, said the latest IAEA report on Iran’s nuclear program was a trick, because Iran was actually cooperation on the nuclear issue: “We thought that we were on the verge of restarting those talks on the basis of our proposals, because we started receiving some encouraging signals, substantive signals from the Iranian side…”

On December 1, the U.S. Senate passed, yet again, new sanctions against Iran, this time targeting the banks of Iran, and any foreign or U.S. banks doing business with Iran.

Also on December 1, the European Union passed new sanctions against 37 Iranian individuals and 143 companies/organizations from Iran, or doing business with Iran.

In response to the latest sanctions, Russia and China warned the West: “We hope the countries involved will keep calm, rational and restrained to avoid emotional actions.”-Hong Lei, Chinese Foreign Ministry

“We speak out categorically against cranking up a spiral of tension and confrontation on issues linked with Iran. We believe that this…is fraught with severe consequences.”-Alexander Lukashevich, Russian Foreign Ministry

And all these statements and events took place in just the past week.

 

 

 

 

 

 

 

 

 

 

 

 

 

Business/Economics, International, U.S.

Global Economic War: CELAC holds first summit meeting, the U.S. & Canada are not invited! “Death sentence” for the United States! IMF begging CELAC for money to bail out Europe. Get ready for Second Falkland Islands War!

“This is the achievement after 200 years of battle…The [U.S.] Monroe Doctrine was imposed here: America for Americans, the Yankees. They imposed their will during 200 years, but that’s enough…As the years go by, CELAC is going to leave behind the old and worn out OAS! [U.S. controlled Organization of American States]”-Hugo Chavez, President of Venezuela, December 3, 2011

“Today, we are going to give a death sentence to the Monroe Doctrine…that battle is culminating today with the creation of CELAC.”-Daniel Ortega, President of Nicaragua, December 3, 2011

CELAC was formed in February 2010.  On December 3rd, 2011, they held their first official meeting, and the Chinese were overjoyed: “I’d like to send my warmest congratulations. China is always looking to approach its ties with Latin America and the Caribbean from a strategic perspective and is willing to deepen dialogue, exchanges and cooperation.”-Hu Jintao, President of China, December 3, 2011

CELAC stands for Comunidad de Estados Latinoamericanos y Caribeños, or Community of Latin American and Caribbean States.  CELAC is made up of 33 countries from the America’s and Caribbean. It now dominates North and South American economic policies. The United States, Canada, and the European countries were intentionally left out.

“A union of Latin American countries is the weapon against imperialism. It is necessary to create a regional body that excludes the United States and Canada …therefore, it is the best time for prime ministers of Latin America and the Caribbean to gestate this great new organization without the United States to free our peoples in Latin America and the Caribbean.”-Evo Morales, President of Bolivia, February 2010

Even supposed South American allies of the U.S. are involved: “This is in our interest, not against the OAS or Iberoamerican Summit, this is integration between Latin America and the Caribbean. I laud the meeting as a step in the right direction for Latin America.”-Juan Manuel Santos, President of Colombia, December 3, 2011

The Mexican President, Felipe Calderón, had the honor of opening the CELAC summit with the first speech: “Today we continue in a long process that never before had managed to achieve the integration of Latin American and Caribbean countries!”

Almost 30 years ago Argentina lost a war to take back the Falkland Islands from the United Kingdom.  The islands are called the Malvinas in Argentina, and at Saturday’s first CELAC summit there was unanimous support for Argentina’s continued diplomatic efforts to take back the Malvinas: “The Argentine government has shown a permanently constructive attitude and willingness to reach, via negotiations, a peaceful and definitive solution to this anachronistic, colonial situation on American soil.”-CELAC declaration

The issue of the Falklands/Malvinas is even more serious as major oil reserves have been discovered there.

In a twist of irony, it’s been revealed that the U.S. controlled International Monetary Fund (IMF) has approached CELAC for loans to help bailout Europe!  Normally countries south of the U.S. border have always been stereotyped as beggars waiting for hand out loans from the IMF:  “This time, the IMF did not come to bring money but to ask for money! I would prefer to be a creditor than a debtor.”-Guido Mantega, Finance Minister of Brazil

“It seems like the tables have been turned. Latin American finance ministers used to shudder when IMF officials came to the region. And they were scolded, they were berated by IMF officials, who told them the way to do things… Now they’re the model of fiscal discipline and responsibility.”-Michael Shifter, Inter-American Dialogue

The President of the IMF, Christine Lagarde, was in Brazil, just before the CELAC summit in Venezuela. She admitted CELAC was the economic boss now: “It’s often the case that when one part of the world is not doing so well, the other ones are going to drive the bus and take the global economy forward.” 

 

 

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

Government Incompetence & Global Economic War: U.S. wants other countries to stop buying Iranian oil, U.S. conspiracy to drive up the price of oil

The U.S. Treasury Department is asking other countries to stop buying Iranian oil, as part of increasing sanctions against Iran.

Here’s the problem: Iran has already adjusted its oil business so that sanctions don’t have any affect. They don’t take the U.S. dollar anymore (the real reason U.S. officials want to attack Iran), and they even let countries pay for oil purchases with barter (by trading for other petroleum related products/services). If enough countries stop taking Iranian oil it will only drive up the price of oil for everyone!  In fact, just the U.S. Treasury Department suggesting this will cause market oil prices to go up.

Who’s side is our government on anyway?

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s unemployed, and underemployed at record levels. More proof that college is a waste of money! And stop moving here, there are not enough jobs for you!

“It would scare the citizens to death and it would make the government look bad. The government wants to look as good as it can.”-Monte Munn, economics professor at Idaho’s Treasure Valley Community College

Munn is talking about the underemployment numbers, revealed in quarterly U-6 reports: “U-6 is a lot more accurate. U-3 greatly underestimates, or understates the real unemployment.”

Monthly unemployment numbers are called U-3, but underemployment is reported every quarter (along with the unemployment numbers) and is called U-6.

As far as the U-6 numbers go, the U.S. Bureau of Labor Statistics reports a seasonally adjusted October 2011 result of 16.2% for the whole country.  Idaho ranks in at 15.9% (according to overall 3rd quarter results)!

(The U.S. Bureau of Labor Statistics calls the ‘U’ measurments “Alternative Measures of Labor Underutilization”. Get it? ‘U’ for underutilization.)

Local Idaho media has been reporting fractional drops in a few monthly unemployment reports for 2011, but, when you look at the IDL’s U-6 yearly percentages, from 2008 to 2010, it’s clear both unemployment and underemployment have gone way up, and the few fractional monthly drops this year don’t mean a thing.

Underemployment numbers not only reveal how many people are working in jobs that don’t have benefits, or jobs that don’t match their level of education or training, but it also reveals the overall quality of jobs available.

The Idaho Department of Labor (IDL) admitted in a 2007 report, they can not count all college educated workers who’re underemployed, which means the actual numbers could be bigger: “…the number of employed job seekers with education who are looking for work is underestimated. Only those who have come through a Labor Department local office are counted, and clearly other employed workers with degrees are looking for better jobs but not through the Labor Department system.”-IDL, Measuring Underemployment in Idaho

 

Pocatello, Southeastern region of Idaho

The IDL just released U-6 data from 2008 to 2010.  By region South Central Idaho has a U-6 ranking of 20.8% making it the number one place for sucky jobs! Eastern Idaho comes in second at 18.3%!  Southeastern Idaho (where I live) joins North Idaho and North Central Idaho in the 14 percentile range.  Southwestern Idaho has the lowest U-6 at 11.7% (still bad).

The IDL even breaks it down by county, so if you want to see how bad your county is (and some counties have U-6 in the 20 percentile range!), then check it out for yourself.

An eastern Idaho TV station interviewed an IDL official, to get his take on why such high U-6 numbers. He blamed the high number of college edjumacated Idahoans, that right, too many highly qualified people living in Idaho: “…I think you would see more of our workers are underemployed, especially if they are zip code attached, where they want to stay here than to get paid more for their education elsewhere.”-Will Jenson, IDL economist

By “zip code attached” Jenson means Idahoans who go to college, find out they prefer the quality of life in Idaho and do not want to leave (I’m in that boat). However, there are very few jobs in Idaho that can pay enough to help you pay back the cost of your college degree.  The fact that there are so many highly educated people in Idaho should attract companies that need higher skilled workers, but, obviously from the U-6 numbers, it isn’t.

There’s another problem, that will eventually bring down the quality of life here in Idaho, people are flooding into the state.  According to the U.S. Census Bureau, the 2010 census count revealed that Idaho is the 4th fastest growing state in the country, at 21.1%.  Come on people, move somewhere else, there aren’t enough jobs here, let alone good paying jobs, for all you all.

As far as unemployed people getting unemployment help (insultingly called “benefits”!), according to the IDL, 11,800 Idahoans stopped receiving unemployment help this year.  Merry Xmas!

 

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

Corporate Incompetence: Could demise of Hewlett Packard’s WebOS end hundreds of jobs in Idaho? HP in bed with Microsoft? We’ll find out in two weeks

“We should announce our decision in the next two weeks. This is not an easy decision, because we have a team of 600 people which is in limbo.”-Meg Whitman, CEO Hewlett Packard

French media interviewed Hewlett Packard’s latest CEO, Meg Whitman.  She says what they decide to do with their WebOS system will affect at least 600 HP employees.

Other media reports confirmed that 525 layoffs, made back in September, were the result of ending WebOS hardware production.  Since August the system has been up for sale, no takers so far.

It’s strange because as recently as July, Stephen DeWitt, head of the WebOS business unit, claimed that WebOS was so versatile that it could be used in a “universe of devices”.

What happened? Executives at HP have decided to use Microsoft’s Windows 8 operating system. In explaining the embracing of Windows 8 Whitman also explained why they canceled their number two selling tablet, the TouchPad: “Internet tablets are mainly used to consume media and e-mails. If you want to use productivity software such as Microsoft, you can not…This is an important area in which we want to go.”  “We stopped using the products that use the operating system WebOS. We will return in 2012. We will have an internet tablet that will use Microsoft Windows 8.”

The new HP tablet that runs on Window 8 is called Slate 2.

Whitman also talked about the high turnover of HP CEOs, and her plans with the company: “HP has had three CEOs in less than two years.  I’m here to stay. Even if my friend Mitt Romney becomes the next president of the United States, I will not join him in Washington.”  “We must invest more in storage, networks and servers to align ourselves with our competitors like EMC and Cisco. Our last server, which uses an ARM processor is more efficient in terms of energy consumption. We need these major innovations to differentiate ourselves.”

In November unnamed sources at HP’s, Boise, Idaho operations leaked word of more layoffs.  Between 3,000 and 4,000 people work at HP’s Boise facilities.  Could the demise of WebOS have anything to do with it?  According to the French newspaper, Le Figaro, Whitman said the world will find out in two weeks.