Category Archives: Business/Economics

Business/Economics, Idaho, U.S.

Government Incompetence: Idaho County violates Federal Law, Federal Judge orders the County to violate Idaho Law in order to pay off fine

In 2010, Boise County was found guilty of violating the Federal Fair Housing law.  They must now pay $5.4 million in fines, with 5.5% yearly interest.

Boise County tried to file for bankruptcy, but a Federal bankruptcy judge found the county can afford the bill.

Now, the Federal district court has ordered Boise County to violate the Idaho law on property tax limits, in order to raise the money to pay the Federal fine.

The Federal court wants Boise County officials to charge at least 3% over the state property tax cap.  Under state law a 2/3rds majority vote must OK such a move.

Idaho State Tax Commission officials are handling this like a hot potato, saying they don’t have the time to review the case, but they are working on a public press release to explain their position.

Boise County is required to make two payments per year, and have already made the first payment of $1.2 million.

 

Business/Economics, Fukushima

Global Economic War: Japanese industry moving to China

Since the 11 March 2011 disasters, Japanese industries moving to China has increased 65%.  That’s according to the Chinese Commerce Ministry.

There are two big factors why Japanese industries are moving to a mortal enemy’s territory: Money and Electrical Power.

Since the March disasters, including the ongoing Fukushima Daiichi meltdown, about half of Japan’s nuclear power plants are shut down.  The problem is that Japan built it’s current industries around nuclear power.  There just isn’t enough alternative electricity sources to power Japan’s factories.

Also since March, the Japanese yen has been going up in value.  This makes it more expensive to build things in Japan; Japan has no significant resources so it must import everything.

Japanese media are finally getting concerned about the growing unemployment there, mainly because so many factories have shut down and moved out of the country.

I wounder how this will affect the plans to create a TPP (Trans Pacific Partnership), especially since one of its goals is to block out China.

Business/Economics, International, U.S.

Global Economic Class War: Proof the banks are taking over Europe; the new Prime Ministers were not elected! New governments will not be elected either!

Who elected the new Italian Prime Minister, Mario Monti?  Not the people of Italy, but one man, the Italian President Giorgio Napolitano.

Here’s the thing, in Italy the position of President is not one of much power.  The Prime Minister is the top dog.  It’s like John Boehner appointing Barack Obama’s successor (some people would like that).

Italy’s new national government will not be elected either, it will be hand picked by the new hand picked Mario Monti.   Italian officials are using the excuse that Italy can’t wait for elections.

The same can be said about the new Greek Prime Minister, Lucas Papademos.  He was hand picked, not elected.

Some opponents of Papademos said he’s planning on delaying the scheduled Greek national elections, that are supposed to be held on February 19, 2012.  When Papademos was asked about such a rumor, he simply said that as far as he was concerned, no specific time frame had been set for national elections!

According to the opposition Greek Socialist Party, Lucas Papademos asked for a promise of no political interference in his plans for Greece, and he got it.

This sure looks like the big banks have taken control of Italy and Greece: Both Monti and Papademos have a long history working in the banking/finance industry. Both have gone to university in the U.S., or taught in U.S. universities.  Both men are members of the European chapter of the Rockefeller founded Trilateral Commission!

 

 

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

Corporate Incompetence: Singapore sells off Olympus stocks, dumb U.S. investors holding on

The Government of Singapore Investment Corporation announced that it has disposed of almost all of its investments in Olympus.

Singapore held 2% of Olympus stocks.  They are the first major stock holder to announce they were dumping their shares in Olympus.  U.S. Olympus stockholders seem to be waiting for Olympus officials to provide an explanation as to where all their money went.

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

U.S. increases embassy staffing in Brazil & China. Officially it’s to help foreign students come to the U.S. Unofficially it’s to bring in cheaper labor to the U.S., and help U.S. citizens leave the U.S.

“Idaho’s the last state that should say we don’t want to do business with Asia. Asia’s where the money is.”-Brad Little, Lieutenant Governor of Idaho

Recently the U.S. Department of State announced they were increasing staffing in China and Brazil.

Most U.S. and Chinese media reports suggested this was due to the increasing number of foreign students wanting to go to school in the United States.  The Chinese media even said it was a money making scheme for U.S. colleges: “A number of state governments in the U.S. are tightening their grip on education spending, which means smaller subsidies for public colleges to pay teachers and fund research. International students on average pay far more for tuition expenses than U.S. residents.”-ChinaDaily

According to U.S. Department of Commerce (yes it’s a “department”, not an “agency” as Rick Perry said), it’s also about the money Chinese tourists bring to the U.S.  In 2010 those visitors contributed more than $5 billion to the U.S. economy.

What about Brazil? In 2008 there were reports that Brazilians working in the U.S. wanted to go back to Brazil.  Now the U.S. State Department claims they can’t keep up with demands from Brazilians wanting to come to the U.S.

In September a report showed that the U.S. government has been wooing new Brazilian companies to move to the U.S.

EverWrite and DeskMetrics were two companies mentioned.  Young Brazilian entrepreneurs say it’s much too hard to start a new company in their home country, so they move to the United States (that’s funny ’cause just this past week Idaho business leaders told our U.S. Congress that it’s too hard to maintain a business in the United States).

Chinese businesses are being wooed here as well.  This brings me to one of two points; that increasing U.S. Embassy staffing in China and Brazil is really about bringing foreign workers into the U.S.  You see, many of those Chinese and Brazilian companies are bringing their own employees.

In fact, here in Idaho our state leaders have made a deal with the Chinese.  They will have their own 10,000 to 30,000 acre industrial and housing zone south of the Boise Airport, with their own Chinese employees, and even some level of national sovereignty.

“I think China’s coming over here shows they are willing to collaborate on the re-invigoration of the American industrial base.”-Jeff Don, Idaho representative for the Chinese company, called Sinomach

Here in southeast Idaho the Chinese have already moved in.

Sinomach is China’s third-largest contractor, and pressured Southeast Idaho Energy for a contract to build SIE’s $2 billion goal gasification fertilizer plant in Power County.  In May, 2011, SIE closed its American Falls, Idaho, office claiming they were trying to reduce operating expenses.

A polysilicon factory is just about to start up in Pocatello.  It’s run by Hoku International, which is now a subsidiary of a Chinese company.  The few local employees hired went to China to learn about their job duties.  So far no more word on anymore local hires, which makes you wonder if the main Hoku labor force will be coming from China?

Officials in Boise, Idaho, admit they’re working with more Asian corporations: “We’re getting calls from investors from all across Asia who are interested in Idaho.”-Cece Gassner, assistant to the mayor of Boise, for economic development.

The other point (regarding increased U.S. Embassy staffing) is that U.S. citizens are flocking to China and Brazil.

Japanese, and even PBS, media reports show that many U.S. citizens aren’t waiting until they’ve been hired to move to China; there’s a growing number of U.S. citizens who’ve moved to China, and are still looking for employment.  In fact many U.S. job seekers in China, are finding that they’re competing not only against Chinese job seekers, but their fellow U.S. citizens.

In Brazil, the current population, according to the World Bank, is more than 194 million people. That’s an increase of almost 3 million since 2008!  Most of those people moved to Brazil, many from the United States.

 

 

 

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Brazil about to beat out U.S. as number 1 Coffee drinkers. Coffee consumption a sign of good times

“In Brazil the middle class has grown and has more money nowadays. Consumers are becoming more sophisticated and want more quality, they want differentiation.  In 2000 you could not find gourmet coffee on supermarket shelves, now we have 104 different brands that are certified as gourmet coffees in the program in the stores.”-Nathan Herszkowicz, ABIC

Right now Brazil is the number one producer of coffee, and according to Brazil’s coffee industry association ABIC, Brazil is about to become the number one consumer as well.

According to officials with ABIC, the coffee consumption rate, in Brazil, is increasing by 4% every year.

While increased coffee consumption is a sign of good economic times for Brazilians, it could be bad news for everyone else: Coffee farmers in Brazil are now focusing on growing for domestic sales, rather than exporting their drinkable beans. That could increase prices for the rest of us.

By the way, the ranking of biggest coffee consumer is based on a country’s consumption of 60 kilogram (132 pounds) bags of coffee.  If you look at per capita (per person) consumption of coffee, then Finland is number one!

 

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

What Economic Recovery? After donating $1 million to charity, HP will lay off Idaho employees

At the beginning of November, Hewlett-Packard reported they had donated $1 million to charity, for the fiscal year which ended October 31.

Now, according to a Boise TV station, HP employees called and reported a major layoff at the HP Boise operation was in the works.

KBOI says they contacted HP officials.  The officials stated they are still working on the details of a forthcoming press release, which will explain the layoffs.

Business/Economics, U.S.

Occupy America: Police harass newspaper videographer following suicide of war veteran who joined the OWS protests

“Get out of here, now!”-James Trieb, Burlington Detective

In Burlington, Vermont, a local newspaper videographer revealed that the local police tried to stop his coverage of the suicide of a war veteran at the Occupy Burlington demonstrations.

The newspaper’s editor said it was a public news event that justified being covered: “It occurred in a public place where there has been a lot of controversy.”-Michael Townsend, Free Press Executive Editor

The video of the incident is posted on the newspaper’s website.

 

Business/Economics, International, U.S.

Occupy America: People, including war veteran, shot and killed at protests

On November 10, in two separate incidents, two people were shot and killed during protests on the east and west coasts of the United States.

On the west coast, in Oakland, California, what appears to be a gang shooting took the life of a man who might have used the protest to try an hide from his killers.  Occupy Oakland demonstrators claim the man was not part of the protest.

On the east coast, in Burlington, Vermont, a 35 year old War on Terror veteran shot and killed himself as a form of protest.  Occupy Burlington demonstrators say the man told them of the government’s failure to help him with a condition he developed due to his military service: “This person has clearly needed more help than we were capable of giving him here at this park.”– Emily Reynolds, University of Vermont student

Back in Oakland, paranoid city officials are ignorantly blaming the possible gang shooting on the Occupy protestors: “I have been very vocal on the fact that this cannot continue. I think fear has become a reality. They should pack up and leave, if not, we should take whatever action is necessary.”– Ignacio De La Fuente, Oakland City Councilman

In Burlington, the veteran’s protest by suicide has encouraged more people to openly protest.  It’s also encouraged the Burlington police to get violent: “We’re dealing with a large group of people. We have stuff available. We have to.”-Andi Higbee, Deputy Police Chief

Burlington media says up until the veteran’s suicide local officials had been tolerant of the Occupy protest.  That has changed, and the mayor of Burlington is even using the suicide to mount an anti-gun campaign: “We need to reflect on guns in Vermont.”-Bob Kiss, Burlington mayor

Business/Economics, International, U.S.

Corporate Incompetence: United States involved with Olympus scandal, Olympus to be delisted from stock market

Japan’s NHK reporting that the incredibly bad investment deals Olympus made, were influenced by a U.S. financial advisory company.

The company was created in 1997 by former Japanese stock brokers.  The company charged Olympus outrageous mediation fees for their advise on taking over other companies.  Reports say at least U.S.$687 million in mediation fees were paid to what could be a bogus company.

Olympus officials are said to have spent a lot of time visiting their U.S. based, but Japanese run, financial advisory company.

The Japanese Securities and Exchange Surveillance Commission has ordered Olympus to present accurate financial reports by December 14.  If they do not, Olympus will be delisted from the Tokyo Stock Exchange.  If you have Olympus stocks, sell, sell, sell!