Category Archives: Business/Economics

Business/Economics, Idaho

What Economic Recovery? Pocatello city budget now cutting Muscle

The city of Pocatello, in eastern Idaho, is trying to figure out how to cut $2 million from its budget.  The mayor says they’ve already trimmed all the fat: “What fat there was we’ve cut and now we’re starting to cut into muscle.”-Brian Blad, Pocatello Mayor

So far city officials have decided to cut $150,000 from the police force.  More meetings are scheduled to figure out what else to cut.

Local media reports say the city is hoping to see an increase in property tax revenues.  That’s highly unlikely since Idaho leads the U.S. in falling home prices.  Officials might be overly optimistic, or maybe they’re planing to increase taxes?

Business/Economics, International

Corporate Incompetence: Strange Japanese Rules

Women in Japan were asked to post online, strange rules that their employers have.

“In our company, women are forbidden from putting on makeup. On top of that, the only underwear we are allowed to wear is white or beige. We are also not allowed to date guys under 23. If they catch us doing so, they cut our monthly pay and ask us to write and submit an official self-reflection letter. When we eventually find a marriage partner, we have to introduce him to the boss and ask for his blessings.”

“When we get to work, we are required to greet the boss’ dog. This should happen before we greet our colleagues or even the boss himself. In cases where someone has forgotten, they are given a lecture on morals by the boss.”

“Every morning when we arrive at the office, the first thing we are supposed to do is greet our company’s ‘special’ female coworker. We never know why we are forced to do so, because her status is not above ours. In fact, we don’t know what her status is. We are also not allowed to leave before her. If this happens, we are called to publicly apologize in front of everyone at work.”

“Our boss has a bell on his desk, which he uses to summon us. He never pronounces our names. When the bell rings, we know what to ask: “Coffee or tea, sir?” His desk is just two meters away from ours. It’s not that far, but maybe he doesn’t like calling people by their names.”

“When I was working at a department store as an elevator girl, we all had to keep our possessions in a bag that was specifically for work. While this is common for some types of jobs, what was strange in our case was that full time employees had a Chanel bag, contract employees had a Louis Vuitton, and part-timers had no-brand bags. That was the unspoken rule. Also, when we are in the restroom, we can’t leave before any full time employees do. In fact, we have to hold the door for them.”

It makes you wonder why they don’t revolt?


Business/Economics, International, U.S.

What Economic Recovery? Mazda will stop U.S. production, moving to Japan & Mexico

Mazda announced that it will stop production of its Mazda6, at a Ford plant in Michigan.  Mazda will move production of the Mazda6 back to Japan.

The Michigan plant is a joint venture between Ford and Mazda, known as AutoAlliance International.  The joint venture has been losing money ever since the ‘credit crisis’.

Mazda also plans to build cars in Mexico, mainly for the booming Latin American car market.  Some Mexican built Mazdas will be sold in the United States.  Rumors are that Mazda wants out of its joint venture with Ford.

 

 

 

Business/Economics, International, U.S.

Global Food Crisis: Deadly E-coli hits United States, FDA can’t inspect for new strain

“We usually consider that a rare complication, and to have 470 is absolutely extraordinary. This is a new public health problem.”-Robert Tauxe, CDC

Center for Disease Control believes three people in the U.S. have picked up the latest deadliest form of e-coli.  They had returned from Germany.

Michael Osterholm, at the University of Minnesota, says the e-coli outbreak in Europe is the deadliest on record.  1,624 cases are being reported by hospitals, but the actual number of infected people could be ten times higher.

Chinese scientist, working with German scientist, says the new e-coli strain is not only “super toxic”, but is resistant to treatment.  The strain is similar to the 0104:H4 strain, except for its resistance to antibiotics, which is why scientists think this is a new strain.

Earlier the Food and Drug Administration said it was inspecting vegetables from Europe for e-coli, but it’s been reveled that the FDA can not test for the new strain.  The FDA tests for e-coli 0157 strain (which is also deadly).

 

 

Business/Economics, Idaho, U.S.

Answer to Idaho Coupon Thieves: Shop at Fred Meyer or Smiths

Recently Idaho newspaper circulation directors speculated that the increase in thefts of newspaper coupons were due, in part, to people trying to save money and deal with high gas prices.

Here’s a solution, that unfortunately for me ends up being free promotion for two stores; shop at Fred Meyer or Smiths.

Both these stores give away thousands of free in store coupons.  Also, if you join their points club (free to join) you get discounts on their already competitive gas prices, and a quarterly rebate based on how much you shop during that quarter.

Actually, at the Fred Meyer in Pocatello, their gas prices are usually the cheapest, even before the points discount for club members (again the club is free to join).   Take advantage, save some money, and don’t be a coupon thief!

 

Business/Economics, International, U.S.

Global Food Crisis: New Deadly Mutant E-Coli Outbreak

“This is a new strain, O157 was almost certainly one of its parents. It’s also got material from another type of E-coli. So you’ve got this germ that’s like O157 but has this extra weaponry, that makes it more nasty.”-Paul Hunter, University of East Anglia in England

E-coli O157 destroys your blood cells and kidneys, and might be the parent of the latest, deadliest form.

German press reports say World Health Organization officials have identified the e-coli, that has killed 17 Germans so far, as a new mutant strain, spawned by two deadly forms of e-coli.  The new strain has been seen before, but not at the level of an outbreak.

E-coli is a bacteria, and everyone has it (in our intestines), at least the non-lethal kind, but there are some very bad versions out there that will kill: “The vast majority of strains are harmless, but there are a select few that are armed and dangerous because of the particular genes they happen to have. These genes produce those toxins. If they produce these toxins, the outcome of infection, rather than just being a tummy upset, can be far more serious.”-Ian Jones, a professor of virology at the University of Reading in England

Now health officials are trying to found out where the new e-coli spawned.  Originally Spanish vegetables were thought to be the carriers (vegetables from Denmark and the Netherlands are suspect as well), but the epicenter of the outbreak is around Hamburg, Germany.  More than 1,000 people in Germany are sick, 470 have reached the stage where kidney failure could occur.

Spain has two cases, but officials say those people had just returned from Germany, prompting Spanish politicians to point the finger of blame to Germany.

Sweden is now reporting cases; one death of a woman who went to Spain, 43 people sick.  The United Kingdom reports seven cases.  Denmark has 14.  Netherlands has eight.  Austria, France, Norway and Switzerland are reporting cases, most of the people had just got back from trips to Germany.

Russia and the United Arab Emirates have banned vegetables from European Union.  The U.S. Food and Drug Administration says it’s increasing inspections of vegetables coming from Europe.

Since e-coli is usually found on the surface of vegetables, the best way to protect yourself is to wash them before eating.

Business/Economics, Idaho, U.S.

Idaho investor guilty of $76 million Ponzi scheme

Daren Palmer plead guilty, in a Federal court in Pocatello, Idaho, to running a ponzi scheme which cost investors $76 million.

The FBI spent two years investigating, and last month criminal charges were filed against Palmer.  He will be sentenced in August.

The SEC, and CFTC filed civil cases against Palmer, which resulted in an order for Palmer to pay fines and restitution of $90 million.

U.S. Federal attorney’s say Palmer wanted to plead guilty last year.  Some of his neighbors were in the Federal courtroom when he plead guilty, they say he’s a nice guy and believe he just “made a mistake”.

 

Business/Economics, Idaho, U.S.

What Economic Recovery? People stealing newspaper coupons in Idaho

“The people who are doing it, I guess they wouldn’t consider themselves a criminal. They are just trying to save money.”-Matt Davidson, publisher

The Idaho Statesman reporting a trend making an appearance in Idaho; people stealing newspaper coupons from newspaper vending machines.

“It is becoming a real problem on Sundays because of the value of the coupons and the local interest in couponing over the last few months.”-Frank Peak, newspaper circulation director

In the Boise area, newspaper staff, who stock the vending machines, noticed that many of the Sunday papers were still in the machines but missing the coupons.  They eventually caught one woman, who tried to use the excuse that no one uses them anyway.

Frank Peak says there are several reasons people are stealing coupons, one being the new ‘reality’ TV show “Extreme Couponing”.  Other reasons are the price of gas and the bad economy.

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho leads United States in falling Home Prices

There’s been more news about the continued falling home prices in the U.S.  One company that tracks those prices says Idaho is the biggest loser.

Corelogic reports that for April 2011, Idaho home prices fell 15.2% compared to April 2010.  It’s also twice the current average for the entire United States.

According to the Center of Business Research and Economic Development at Boise State University, most of Idaho’s home sales, prior to the housing market bubble burst, were actually being driven by “second home” buying and real estate speculation.

When the bubble burst those kind of sales stopped.  Now Idaho is looking at a more realistic picture of property sales, which is reflecting the overall bad economy.