Tag Archives: banks

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

Economic Recovery? Idaho’s Micron Technology invades Japan! Micron on the offensive!

May 4, 2012, Japanese media reporting that failed Elpida Memory has chosen Idaho’s Micron Technology as its corporate savior.

According to NHK: “Elpida is Japan’s sole DRAM memory chip maker. It filed for bankruptcy protection in February after suffering losses stemming from the strong yen and intense foreign competition.”

But here’s the irony; Idaho’s Micron is also having revenue trouble.  Idaho media, real estate web sites, etc, have been reporting Micron as the Boise area’s largest employers.  But Micron’s employment in Boise dropped to 5,000 in 2009, and has been trickling down ever since.

Micron has had a lot of investors, yet their quarterly reports for 2011 were loss after loss (in the hundreds of millions each quarter).  This is because the memory chip market basically crashed.

However, since the beginning of 2012 Micron officials have been busy buying up other factories, and now companies.  Micron recently took over a Toshiba owned factory in Virginia, called Dominion Semiconductor.

Here’s what the Wall Street Journal’s Market Watch said: “The current state of the memory-production business is looking like the hotel business, where various facilities are bought and sold like trading cards from company to company.”

One reason for that is that memory chips have become a dime a dozen (actually less) and there’s no brand loyalty among chip users.

Micron officials seem to have scouted the next wave of memory innovation correctly, they are now pushing their RealSSD (Solid State Drive) and computer companies are buying it up.

On May 4, 2012, Elpida officials chose Micron, out of three bidders, to take over their company.  It’s reported that it will cost Micron $2.5 billion USD.  The take over will be finalized at the end of May, and new company plan submitted to Tokyo District Court by August.

Originally Micron offered $1.9 billion for Elpida, but Elpida shareholders threatened legal action.

 

 

Business/Economics, U.S.

What Economic Recovery? Corporate America’s (and state & local governments’) planned layoffs increase for 2012

Don’t blame Obama for the bad labor market, the U.S. Labor Department just revealed that the bad labor market (people unable to find good jobs) began in 2000, under Bush Jr’s watch!

Blame Corporate America!  For more proof, Chicago based Challenger, Gray & Christmas released the results of their study of recent planned layoff announcements coming from unAmerican Corporate America, and state & local governments. 

Announced layoffs have gone up 11% since last year!  Education, government, consumer goods and transportation industries had the most planned layoffs, with the education sector leading the way.

According to Business Week, Michigan leads the country with the most planned layoffs: 5,094 announced just last month!

California is next with 4,070, Washington state with 3,329 and Pennsylvania takes fourth with 3,292!

 

 

Business/Economics, U.S.

What Economic Recovery? Official ‘Unofficial’ unemployment numbers way up. Nearly 100 million Americans unemployed! Record number of people who refuse to work slave wage jobs!

“At this point, the labor market is worse than people realize because people are discouraged. Certainly, a large number of workers have given up on the job market.”-Keith Hall, former commissioner of the U.S. Bureau of Labor Statistics

Believe it or not the U.S. Department of Labor’s Bureau of Labor Statistics actually attempts to track those people who’re unofficially unemployed.

The “official” unemployment numbers count those who’ve been looking for work for the last four weeks, and people who already have jobs but are looking for better work.  The fact that “official” unemployment numbers includes people that are actually employed should be enough for you to doubt them.

But it turns out the Bureau of Labor Statistics does try to count people who’ve been out of work longer than four weeks, or who have just stopped looking for work, they just don’t include those people in the “official” unemployment reports.

One way they look at it is what they call labor force participation.  According to their latest numbers, the labor force participation rate in the United States is at it’s lowest level since 1984. There are 86 million U.S. citizens who gave up looking for work!  That’s 86 million “unofficially” employed on top of the 12.7 million “officially” unemployed!

That means there’s actually 98.7 million people known by the federal government to be unemployed in the United States!

Department of Labor officials say that at least 6 million unofficially unemployed have stopped looking for work because most jobs available are not worth taking (from the unemployed’s point of view).

Labor officials also admitted that they didn’t know why about 36 million of the unofficially unemployed refuse to look for work.  In fact the labor force participation rate has been steadily dropping since 2000, years before the credit crisis began!

To make matters worse, the Chicago Federal Reserve bank expects labor force participation rate to continue to fall.

Why is the Labor Department coming forth with this dismal unemployment announcement?  Because federal government officials and politicians have realized that with nearly 100 million people out of work, and signs that it’s going to get worse, the money the federal government steals through income taxes will continue to be less and less (don’t be surprised when they start jackin’ up taxes on those who are employed).

 

Business/Economics, International, U.S.

China sets Yuan at new record versus the U.S. dollar

The People’s Bank of China set the yuan’s midpoint at 6.267, meaning it could take 6.267 yuan to equal one U.S. dollar.  The more valuable the yuan is, the less it takes to equal one USD.

That’s a new record, and proof the Chinese are increasing the value of their money.  May 2, 2012, currency trading in China ended with the yuan at 6.30 for every one U.S. dollar.

The downside is that the more valuable the yuan is, the more expensive anything made in China becomes.  Better bring those jobs back in the U.S.S.A.

Business/Economics, International, U.S.

World War 3: U.S./NATO troops kill 4 children. No surprise; illegal drug trade sets new records under U.S. occupation, money not going to local drug dealers! 24 hour reports roll on.

May 1, 2012, three children killed, and three wounded, in Zabul Province, Afghanistan.

Deputy provincial governor, Mohammad Jan Rasolyar, said U.S./NATO troops were attacked by Mujahideen, and a firefight broke out.  Witnesses were outraged, claiming the children were targeted by the U.S./NATO troops.

Protests erupted, resulting in the closing of the highway between Kandahar and Kabul provinces.

Witnesses also say two U.S/NATO troops were killed, and one Mujahideen was killed.

Afghanistan’s Deputy Counter Narcotics Minister, Ibrahim Azhar, announced that the illegal drug trade in Afghanistan is now at $70 billion USD since 2011.

Opium production is up by 61% since the United States occupied!  But here’s some interesting news from the Afghan government; the opium farmers, and even local drug dealers, account for only 5% of the income made off the illegal drugs!  The majority goes to “international” organizations (another way to say U.S. affiliated organizations).

Deputy Counter Narcotics Minister Azhar also claimed that the majority of the drugs are being flown out of Afghanistan via airports, and airbases run by the United States!

And now for the 24 hour seek, destroy or capture report given by Afghan and ISAF officials, for May 1, 2012:   Three Afghan troops wounded in Ghazni Province.  One Afghan troop wounded in Nimroz Province. Weapons and ammo captured in Kandahar Province. Two “leaders” captured in Helmand Province.  Five Mujahideen killed by possible U.S. drone strike in Lagman Province.  One Mujahideen killed by air/drone(?) strike in Wardak Province, also one Mujahideen killed in firefight with occupying forces.  Afghan Interior Ministry claims a total of 19 Mujahideen were killed, three wounded and five captured.

Combat operations were conducted Kabul, Baghlan, Faryab, Kandahar, Helmand, Maidan Wardak, Logar, Khost and Farah provinces.

And now for the 24 hour report for April 30, 2012: 40 year old woman killed with shotgun in Baghlan Province. Police Chief for Paktia Province assassinated by Mujahideen, two cops and one body guard wounded.  U.S./NATO troop killed in battle in southern Afghanistan. Afghan Interior Ministry claims 14 Mujahideen killed, two wounded and 16 captured, along with weapons and ammo.

Combat operations were conducted at Kabul, Nangarhar, Zabul, Logar and Ghazni provinces.

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

Oil & Gas Prices: Iran 100% increase in shipments! Nigeria oil & gas boom. North Dakota oil jobs draining Idaho & Washington. Ohio’s oil industry refuses to hire locals? Chevron big profits. Texas is proof that Obama is an oil man.

Despite U.S. oil sanctions against Iran, Iran experienced a 100% increase in refined petrol (gasoline) exports in 2011!

Iranian officials say their gasoline sales in 2011 hit a record $134 million USD!  Some of the countries buying Iranian petrol are Armenia, Afghanistan, the UAE, Iraq and Oman (some are U.S. puppet states).

By the end of 2010 Iran became self supporting in petrol production, ending years of dependance on foreign suppliers of refined gasoline.  Iran is now a major exporter of refined fuels.

Officials in Nigeria announced plans to increase oil production to 4 million bpd by the year 2020.  They are also close to increasing liquefied natural gas production by an additional 20 million metric tons a year, from the current level of 26 million tons.  Nigeria is the largest oil producer in Africa.

Texas oil and gas surplus equipment supplier, Jhump & Associates, is reporting a 117% increase in sales in 2011!  But that’s nothing compared to the 300% increase they had in 2010!!!

The Texas based company started in human resource solutions, but has seen a huge boost after they moved into surplus oil equipment sales.  They now plan to move into off shore drilling technology. They say their increased sales is due to a huge increase in oil and gas exploration and drilling in the United States.  What was that about Obama not doing enough to increase oil production?

In the panhandle of Idaho, and eastern Washington, people are leaving for oil jobs in North Dakota: “I’ve had guys come running through the door, saying, ‘I need my CDL [commercial drivers license] now! I’ve got a job lined up in North Dakota!’ .”-Tina Sykes, Sage Truck Driving Schools

Sage Truck Driving Schools now offers a shortened course for those Idahoans and Washingtonians heading for North Dakota.

North Idaho College is experiencing a jump in enrollment for electrical and plumbing programs that end with apprenticeships in North Dakota.

While educators are warning job seekers to do their homework before heading for North Dakota, there seems to be more than enough jobs available: “We’ve had both types of people, those who jumped in the car and left, and others who did prior research on companies. We’ve never had anyone who didn’t get employment.”-Tina Sykes, Sage Truck Driving Schools

In contrast, Ohio is seeing a seeming rejection of local people for consideration of employment in the oil and gas industry there.

One union member claimed that not a single contractor in Coshocton County, Ohio, has been hired by the shale oil and gas industry: “…I have been a local construction laborer for more than 30 years. I have talked with other construction laborers living in the Carroll, Harrison and Jefferson county areas. They are totally discouraged on the lack of, or in other words zero percent, work they are getting from this construction based shale gas industry.”-Timothy Mulford, Business Manager Laborers Local 134

Chevron reported a $6.5 billion USD profit for the first quarter of 2012.  High oil prices driven by speculators was one of many reasons for the huge profits.

According to Visiongain, all oil refineries around the world are now worth a combined total of $46.64 billion USD.  Visiongain expects huge investments and developments will be made in refineries until 2022.

 

 

 

International, U.S.

World War 3: More U.S./NATO deaths, more leaders captured, more battles, more money to be spent.

April 29, 2012, International Security Assistance Force announced that two U.S./NATO personnel were killed in separate explosions.

One soldier was killed in southern Afghanistan, the other in eastern Afghanistan.

At least 135 NATO service members have died since the beginning of 2012.

Yet another 24 hour seek and destroy/capture mission report from the Afghan officials. This time they claim they killed five Mujahideen and captured 21.

They also claim the usual capture of “leaders”, weapons and drugs.  The battles took place in Nangarhar, Kunar, Kapisa, Kandahar, Helmand, Khost, Ghazni, Logar, Zabul and Farah provinces.   The report was backed up by ISAF officials.

Chairman of U.S. Senate Foreign Affairs Committee, Senator John Kerry, met with President Hamid Karzai. They came up with preliminary agreements on U.S. troop draw down in 2014.

They agreed the main focus should be spending more money to build up Afghanistan’s civil service.  They also agreed not to reduce spending on the Afghan military until it was clear the “security situation” improves, after 2015.

Business/Economics, International

Global Economic War: Grocery store chain refuses to buy Israeli products

“Following an audit of the Group’s supply chain, it will no longer do business with four companies, accounting for £350,000 [$569,380 USD] worth of sales, as there is evidence that they source from the Israeli settlements in the Palestinian occupied territories. The Group will also continue to actively work to increase trade links with Palestinian businesses in the occupied territories.”-Co-operative Group statement

A U.K. based food retailer, Co-operative Group, is continuing a ban on Israeli food products coming from illegally occupied West Bank.

Co-operative Group stopped buying products from Israeli West Bank settlements in 2009.  Four Israeli companies are affected: Agrexco, Arava Export Growers, Adafresh, and Mehadrin which is Israel’s largest agricultural export company.

“We strongly urge other retailers to take similar action.”-Hilary Smith, Boycott Israel Network

Business/Economics, International

What Economic Recovery? Spain hits record unemployment, highest in Europe!

April 27, 2012, Spain’s National Statistics Institute announced that Spain’s unemployment rate is officially at 24.4%, the highest ever for Spain, and currently the highest in Europe!

That’s 5.6 million people out of work in a country with a population of 46 million people!

The 24.4% rate is for the first quarter of 2012.  It’s a 370,000 increase from the last quarter of 2011!

Now realize that Spain is considered the fourth largest economy in Europe!

The government of Spain plans on enacting even more spending cuts, and increases in taxes.  Mmmm, I think that’s whats actually making things worse?