Category Archives: Business/Economics

Business/Economics, International

Control of Oil rights behind Scotland’s latest push for Independence

Scotland has oil, lots of it.  And the Scottish people say they’re tired of the English controlling it.  After all they were told they would benefit, but they haven’t.  Scottish rebels point to Norway as an example:  “Scotland and Norway discovered oil at the same time. Some years ago, Scotland was turned into an industrial desert and Norway has transformed its society and its economy, they have billions in the bank, whereas we have seen ours wasted on missiles and weapons of mass destruction and illegal wars.”-Kenny MacAskill, Scottish Justice Minister

The recent Scottish elections saw the Scottish National Party dominate.  The SNP ran on a promise to make Scotland independent: “We have been elected with two mandates: one is to pursue our claim for an independent Scotland in the right for a referendum. Equally, we have been elected as a government to make Scotland a better place and we seek to do that by driving our economy forward and making our country a fairer, greener, safer, wealthier and healthier.”-Kenny MacAskill

Business/Economics, Idaho, International

Canadian oil company equipment stuck in Idaho, Montana suing

Canadian Imperial Oil (a subsidiary Exxon Mobil Corp) has massive equipment, called modules, stuck in Lewiston, Idaho.  They need to get it to their Kearl oil sands project in northern Alberta, Canada.

The problem is their size.  Idaho Transportation Department has yet to approve transportation of the equipment through Idaho, one of the problems is that the modules won’t fit under any overpasses in Idaho.  Oil company officials say they will have to cut them in half.

In Montana, there are lawsuits to stop the transportation through its territory. Montana officials say the size of the Imperial Oil equipment will require burial of overhead power lines, upgrading existing roads and building new turnouts (who’s gonna pay for that?).  Montana environmentalists say the company needs to do an environmental impact assessment.

Imperial Oil is complaining that their construction schedule is being compromised.  Maybe they should have worked this out before hand?

Imperial Oil does not have a good business track record, or a good safety track record.  Recently they’ve apologized for the release of a mile-long plume of sulfur dioxide, in Ontario, Canada.

Business/Economics, International, U.S.

Flooding along Mississippi adds to Global Food Crisis, and threatens U.S. economy

Voice of America reporting that farms along the Mississippi flood zones are destroyed.  Some farmers were able to harvest some of their crops before the flooding.

Many farmers did not have crops to harvest, but were about to plant, and now that’s not going to happen: “…this is unprecedented because of the amount of water that is backed up and out over areas that normally do not flood.”–Randy Ouzts, Horizon Ag

One of the biggest U.S. exports are crops.  The harvest is shipped to New Orleans, on barges that sail the Mississippi river.  Ouzts says getting the harvested crops out could be a problem: “The issue we are having at the moment is wheat delivery, and also fertilizer and fuel deliveries, and the problem is loading.  The facilities were not built to accommodate this much water.”

Business/Economics, International, U.S.

Boeing & Airbus claim victory in WTO case

Depending on which media source you read, Boeing won its World Trade Organization case against Airbus.  Depending on which media source you read, Airbus won its World Trade Organization case against Boeing.  Yes, that’s the idea.

Both Airbus and Boeing are declaring victories in their WTO case against each other.

U.S. officials say the ruling helps Boeing: “This definitive victory will benefit American workers who have had to compete with a heavily subsidized Airbus.”-Tim Reif, general counsel for the U.S. Trade Representative

Airbus officials say the WTO ruling upheld European loan subsidies: “…government loans are a legal instrument and that none of the government loans made to Airbus over the past 40 years were prohibited…”

Boeing reps said this is a “definitive victory” for the United States, but Airbus said “This is a big win for Europe.”

Who’s right?  The WTO looked at the allegations line by line, and voted line by line, basically splitting the difference.  So both sides think they won, when in reality they broke even.

Business/Economics, International

Parts supply problem forces Honda to lay off 400 employees

Honda announced they will have to lay off 400 workers at their factory in Brazil. The problem is lack of parts.

Originally Honda was going to reduce production, at their Brazil plant, for 12 days.  Now it’s cutting production for a full month, and reducing payroll by 12%.

The ongoing parts supply problem was caused by the March 11 disasters in Japan, which revealed the weak link in the “just in time” supply policy for Japan’s (and even the world’s) industries.

Business/Economics, U.S.

Big U.S. health insurance company hit by striking nurses

At least 1,000 health care workers picketed a hospital belonging to one of the biggest insurance companies in the U.S.; Kaiser Permanente’s flagship hospital in Los Angeles, California.

The workers say Kaiser has been cutting back on staffing, forcing those still working to handle longer hours.  The insurance company is also cutting back on services.  Striking workers say the company is lying about lack of funding.

During the first quarter of 2011 Kaiser Permanente reported a profit of $920 million.  For all of 2010 they made a profit of $2 billion.  Yet the company came out and told employees there will be more rounds of cut backs.

 

 

 

Business/Economics, U.S.

Tens of thousands of U.S. teachers laid off

Around the country, tens of thousands of teachers in the United States have been laid off.

New York City needs to lay off 6,000 teachers, to balance their education budget.

California has notified at least 20,000 teachers that they will be unemployed.

Dozens of teachers were fired in Ohio this week.

Broward County Florida School District will lay off 1,400 teachers.

And many layoffs took place in the past year.

In some cities pro-teacher groups are pointing out that their school districts actually have budget surpluses, yet teachers are being laid off in large numbers.

Teachers unions are on board with the layoffs, saying it’s time for the bad teachers to go.  I’m all for getting rid of the bad teachers, there are plenty (from my own experience as a student, and as a parent putting four kids through school), but when you realize the number of teachers being laid off across the country it makes you wonder: Are there that many bad teachers?