Category Archives: Business/Economics

Business/Economics, International, U.S.

Global Economic War: Argentina thrashes the U.S. as Corn supplier to Columbia, Canada to take over as main wheat supplier

According to a report by Agrimoney, Argentina has replaced the U.S. as the main supplier of corn to Colombia, and probably in the near future Canada will do the same with wheat.

U.S. corn exports to Columbia have crashed: In 2007 the U.S. supplied 96% of Columbia’s corn.  In 2010, the United States supplied a meesley 19%!!!

But don’t blame Argentina for crashing U.S. farm exports, Canada is about to kick the United States of America’s ass as well.

Columbia and Canada signed a free trade agreement on August 15.  Within ten days of the deal wheat buyers in Columbia ordered 125,000 tons of Canadian wheat!!!

On top of that, Nutresa, Columbia’s biggest cookie and pasta maker announced that their main source of wheat will now be Canada!!! 

 

Business/Economics, U.S.

What Economic Recovery? Corporate America says ‘If you’re unemployed don’t bother applying’, some States pass laws making it illegal for Corporate America to discriminate aginst the unemployed

“But we have seen instances in which employers are explicitly saying we don’t want to take a look at folks who’ve been unemployed. Well, that makes absolutely no sense, and I know there’s legislation that I’m supportive of that says you cannot discriminate against folks because they’ve been unemployed, particularly when you’ve seen so many folks who, through no fault of their own, ended up being laid off because of the difficulty of this recession.”-Barack Obama, President of the United States

What irony, Corporate America are deliberately discriminating against unemployed people.  Many want adds state “Must be currently employed”!

How’s that going to turn around the economy?  More proof the economic depression/recession is the fault of Corporate America!

A couple of months ago the National Employment Law Project found 150 online job adds that specifically discriminated against unemployed people.  Those discriminatory employers included Universities!

Some states, like New Jersey, are fighting back by making it illegal to require job applicants to be already employed.  The U.S. Congress is considering a bill that would do the same: Fair Employment Opportunity Act 2011, HR 2501.

Even Monster.com is being sued for posting help wanted adds that require current employment.  Monster.com says they’re just the messenger.

Business/Economics, International, Technology

Good idea from Japan: Books that tell you how to escape a natural disaster, you can’t rely on your cell phones

In Japan some of the fastest selling books are how to books that show you how to get out’a town in case of a natural disaster.

The 9.0 quake of March 11 was the motivator for such books.   Even though Tokyo was at least a hundred miles from the epicenter of the quake, the public transportation systems went down.  About 6 million people walked or rode bikes home.

People who did well walking out had road maps, or had read the 2005 book Map for Walking Home in the Event of an Earthquake.  The book was the result of experiences of the editors in a 2004 earthquake.

Amazingly the book was undergoing a revision when the March 11 quake hit.  In fact one of the editors ended up walking home over the next two days, it proved to be useful in making the revisions: “For example, there were big advertising signs above the roads, which can break and fall on pedestrians, and such potentially dangerous sites we included on the maps.”-Tatsuya Nakajima, Shobunsha Publications

Since then 150,000 of the books have sold.  Prior to that, 1 million copies had sold.  Here’s one good reason such books are in demand, cell phones did not work on March 11: “People could not access online maps on their mobile phones right after the quake because telecom systems were overloaded.  That’s probably why the demand for paper maps has increased and this book has sold well since.”-Tomoko Okawa, Shobunsha Publications

A subsidiary of Shobunsha Publications has recently solved that problem, at least if you have an iPhone, a downloadable app that does not require an active cell service to work.

 

 

Business/Economics, International, U.S.

Global Economic War: British TESCO admits defeat, pulls out of Japan, the U.S. is next

“Having made considerable efforts in Japan, we have concluded we cannot build a sufficiently scaleable business. We have decided to sell our operations there and focus on our larger businesses in the region.”-Philip Clarke, TESCO

After eight years and 250 million pounds (U.S.$404.9 million), British retailer TESCO is quitting Japan.

The Japanese retail market proved to be too tough o’nut to crack.  TESCO has been successful almost everywhere else, especially other Asian countries.

Retail analysts say Japan’s retail culture is radically different than the U.S. or Europe: “The retail market is fragmented and there are many strong regional players, often family-owned. Convenience stores dominate, particularly in the city centers, and a culture of ‘immediacy’ supports large numbers of vending machines.”-Gavin Rothwell, retail analysts IGD

Another factor against foreign companies doing business in Japan is extremely high operating costs, and extremely demanding consumers.

However, TESCO is also losing money, big time, through its U.S. venture, Fresh & Easy.  The U.S. start up is based in Los Angeles, California.

TESCO’s Fresh & Easy operation has 176 stores in California, Nevada and Arizona.  Last year they lost $301 million, far more than what TESCO lost in Japan.

They’re spending even more money to remodel their Fresh & Easy stores, but if sales don’t pick up within the next two years, TESCO will pull out of the United States as well.

 

 

 

 

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service will default, begs to stop Saturday delivery

USPS announced they will default on the upcoming Federal Employees Retirement System payment (this after Congress essentially stole $75 billion from the Postal Service, supposedly to pay the FERS last year!).

Also, postal officials are now begging the U.S. Congress to approve the ending of Saturday delivery.  USPS officials also want to use retirement money to run daily operations.

Officials also say they will unveil a plan on September 15,  which could save up to $3 billion per year.

The United States Postal Service does not make money off taxpayers, they are solely funded by the postage they charge (prices are controlled by Congress, not the USPS), and other products they sell.  The cuts being made to the USPS will have no affect on U.S. government debt.

 

Business/Economics, International

United Police Kingdom: British Bobbies demand reporters hand over all video of recent riots

Scotland Yard is demanding all media outlets in London turn over video of riots.

The bobbies say it will help them arrest even more people, as if the video from the thousands of city surveillance cameras isn’t enough.  Even British Prime Minister David Cameron wants the media to give in.

The bobbies are asking for all “unpublished” videos and pics.  Here’s the thing, the media has published lots and lots of video and pics that clearly show looters’ faces, so why do the bobbies need more?

“They act almost like they are above the law. They have got 40,000 hours of CCTV footage to go through. And it seems to me they are getting bored with that and are trying to co-opt the press in Britain [into being] evidence gatherers for the police.”-Tony Gosling, investigative journalist

 

Business/Economics, U.S.

New York Mets: Madoff Ponzi Scheme Partners?

The owners of the New York Mets baseball team are in big trouble, financially anyway.  They just struck out on a much needed injection of cash from potential investor David Einhorn.  To the tune of $200 million.

The Mets owners lost money when ponzi schemer Bernie Madoff was finally caught.  But don’t shed a tear for the owners of the Mets, turns out they were making big profits under Madoff’s illegal investment pyramid.

Irving Picard, a lawyer, doesn’t believe claims by Mets owners, that they were ignorant of Madoff’s ponzi scheme.  He’s suing them for a grand total of $1 billion.

Out of that $1 billion, $300 million covers the profits the Mets owners made off Madoff’s illegal scheme, and the other $700 million is the total amount the Mets invested with Bernie Madoff.

 

 

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

What Economic Recovery? Hoku, Idaho, finally to start polysilicon production, but ongoing delays will cost solar company money

“We are positioned to bring the first 2,500 metric tons of manufacturing capacity online in the coming weeks, and we continue commissioning key systems on site.”-Scott Paul, CEO of Hoku Corporation

After years of continued promises of local hiring and construction delays, due to financial problems, Hoku claims it will finally start polysilicon production within weeks.

However, Idaho Power insists that Hoku pay up front for its electricity, Hoku officials claim they’ve already paid $5.3 million to the utility.  This is just part of a long list of financial problems the wannabe polysilicon maker has had.

It’s ironic that a solar power “products and services” company must rely on an old fashioned electric utility to provide power to run their new 2,500 metric tons of polysilicon factory.

Hoku Corporation has already lost $10.2 million during the second quarter of 2011.  The solar power products company is based in Hawaii.  Their polysilicon Hoku Materials plant is located in Pocatello, Idaho.

Hoku has been getting financial help from a Chinese company; Tianwei New Energy Holdings.

Hoku salesmen oversold their company’s product, and now they’re scrambling to issue refunds, and offer discounts on existing contracts for waiting so long for their product.

All current orders for polysilcon are delayed, no thanks to the financial problems that have delayed construction of the Pocatello plant for the past couple of years.  Expect Hoku to continue reporting losses as a result.

2010: HOKU TURNING TO CHINA TO HELP FINISH POCATELLO PLANT

 

Business/Economics, U.S.

What Economic Recovery? Latest survey shows there are less jobs now, than in 2008, study says Corporate America is Lieing when they use the excuse “they can’t find qualified workers”

“To fill the gap by mid-2014, three years from now, 400,000 jobs would need to be created each month.”-EPI study titled: Sustained, high joblessness causes lasting damage to wages, benefits, income, and wealth

The latest Economic Policy Insitute study shows there are 6.8 million fewer jobs now, than when the recession officially started in 2008.

The study also indicated that it was a pipe dream to some how create 400,000 new jobs every month.  So far, evil Corporate America has been hiring a paltry average of 144,000 jobs each month.  The EPI authors say at that rate it’ll take 15 more years to get the United States back to its pre-2008 glory.  And this study doesn’t take into account all those federal and state government jobs that will be lost due to budget cutting.

Another aspect of the study showed that Corporate America’s claim that there are no qualified workers to hire, is a lie!  That type of unemployment is called Structural Unemployment.

The study found that the ratio of job openings, to job seekers, is one opening for every four applicants.  It’s been that way for at least two years now.  With an average of four unemployed people applying for one job, how can Corporate America say they can’t find any qualified workers?

Here’s another reason: The unemployed include people from every education group, including college graduates with Masters degrees.  This means Corporate America has a vast pool of trained and educated people to pick from, yet Corporate America isn’t hiring!

 

 

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho New & Used car sales drop nearly 20%

A survey by Cross Sell, and the Idaho Statesman, revealed that new and used car sales, in southwest Idaho, plunged in July 2011.

Southwest Idaho is supposedly doing better economically than eastern Idaho, yet new and used car sales declined.  When compared year to year, sales dropped 14%.  When you compare July 2011, to June 2011, the drop is 19%.