Tag Archives: chubbuck

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

Political Incompetence & Corporate Evil: Christian/Mormon Mitt Romney co-founded Bain Capital, which has been destroying jobs since 1984! Destroyed jobs in Chubbuck, Idaho. Demise of KB Toys connected to Toys “R” Us

“Mitt Romney’s history at Bain Capital is not going to help his image as a job creator.  Now, we want to disclose that NBC Universal and Bain Capital are each a part owner of the Weather Channel.  Bain Capital’s main business model is buying companies like American Pad and Paper and restructuring [industry code for ‘slash and burn’] them.  In many instances, Bain turned a profit by strip mining these companies.  American,  AMPAD is what it’s known, the stock was driven down [on purpose by Romney, I explain a little further in the article] and the company went bankrupt.  They fired hundreds of workers along the way.”-Ed Shultz, MSNBC

MSNBC is admitting that a company affiliated with NBC, Bain Capital  co-founded by Mitt Romney, has been destroying jobs, not creating jobs as Romney claims.

In 1984 Romney co-founded Bain Capital, which grew out of Bain & Company.  The soul purpose of the company is to buy out other companies, then gut them and sell them off piece by piece. Of course this means jobs are destroyed.

Interestingly, back in October, MSNBC’s Ed Shultz actually downplayed Romney’s connection to Bain Capital.  He and some of his guests, stated that a photo published in the Boston Globe was fake: “…it’s probablly a joke photo.”

Now Ed Shultz is backpedaling.  He, along with other MSNBC anchors and reporters, are revealing that Bain Capital has been behind many of the job loses in this country since the late 1980s!

The New York Times reported that Romney left Bain Capital in 1999, but, as part of his ‘retirement package’ is making money off their continued slashing and burning of U.S. jobs.  According to the article, Romney, 13 years after leaving Bain Capital, is still making millions of dollars off his retirement package!

old kb toys pine ridge mall

Former location of KB Toys, Pine Ridge Mall, Chubbuck, Idaho

Anybody remember KB Toys? I do. I was an employee of the Chubbuck, Idaho, Pine Ridge Mall at the time they closed down the KB Toys store in that mall. By 2004 KB Toys went bankrupt and 3,400 people lost their jobs! Guess what, one of Bain Capital’s affiliated companies was behind that!!!

pine ridge mall

Fading Pine Ridge Mall, Chubbuck, Idaho

Oh, and what about Romney’s connection to Massachusetts? Romney ‘retired’ from Bain Capital in 1999.  The Bain Capital partnership took over KB Toys in 2000.  KB Toys is headquartered in Pittsfield, Massachusetts. Romney became governor of Massachusetts in 2002.  In 2003 the Bain Capital partnership started shutting down KB Toys stores. Mmmm, connection?

Here are some more examples of deals that resulted in job losses at the hands of Romney’s Bain Capital (and affiliated companies like Holson Burnes Group): Clear Channel Communications, 2,500 job cuts.

Photo album factory in South Carolina, 150 jobs lost.

Sensata Technologies, a European company with U.S. operations, several hundred U.S. employees lost their jobs.

American Pad & Paper, or AMPAD, lost 185 jobs.

The case of AMPAD reveals how Romney’s Bain Capital works.  They buy up companies in the same market, then they whittle them down until there is only one or two in the market, who then become big money makers by default.  AMPAD’s competitor was Staples. Romney touts Staples as a good example of his management skills, but what the Boston Globe found out (and reported in a 2007 article) is that Romney simply bought out competitors and shut them down until Staples was just about the only game left in town.

Now how about the KB Toys deal? KB Toys and Toys “R” Us were the top toy stores in the United States.  A company connected to Bain Capital buys out KB Toys and shuts them down.  What about Toys “R” Us? Yes there’s a Bain Capital connection.  In 2005, one year after the KB Toys bankruptcy, Toys “R” Us was taken over by KKR Group, Vornado Realty Trust and Bain Capital for $6.6 billion!  In 2009 Toys “R” Us takes over what is left of KB Toys; website, trademarks, and intellectual property rights.  Mmmm, you seeing the pattern?

This goes against the principle of the free hand of capitalist competition.  The jobs lost because companies went out of business were not actually due to any ‘poor’ performance of the employees, or lack of sales, but because the ‘investors’ Romney & Co wanted it that way!

Also, Bain Capital works the same way the rest of Corporate America does, they don’t use their own money to take over companies, they take out huge loans from the too big to fail banks that got taxpayer bailouts!

One report said Romney’s “investments” have resulted in at least 12,000 U.S. jobs lost!  It’s probably more than that, the way Bain Capital and affiliated companies shut down businesses does not result in net jobs gained, but net jobs lost!  Anybody remember Oliver Stone’s 1987 movie Wall Street?

Opinion: MITT ROMNEY CONSTITUTIONALLY INCOMPETENT. RELIGION BASED MARRIAGE LAW WILL VIOLATE CONSTITUTION.

Washington DC BS: MITT’S MYSTERY MONEY NOT EXPLAINED BY LATEST ADMISSIONS

Business/Economics, Idaho, U.S.

What Economic Recovery? Sears post partial list of store closings. Idaho, Oregon, Colorado & Washington makes the list

It’s only been two days since Sears Holdings announced they were closing up to 120 Sears and Kmart stores, and now they have named 79 of those stores.

I already explained why their Chubbuck and Pocatello, Idaho stores could be closed.

Sears store in Lewiston Center Mall, Lewiston, Idaho, makes this initial list of 79 closings.  The list does not provide details on any timeline for closing.

Some regional media sources have stated that other stores in the area “escaped” the list, however the list is only 79 of as many as 120 total closings (and it could be more).

Other Pacific Northwest Sears stores that made this early list are in Roseburg, Oregon, Longmont, Colorado and Walla Walla, Washington.  Also, the Kmarts in Glenwood Springs, Colorado, and Spokane, Washington will be closed.

Also, a Sears store in Denver, Colorado, that was formerly a Kmart store, will be converted back into a Kmart store.

You can find out more by going to www.searsholdings.com and looking under their media tools section.

 

Business/Economics, Idaho, U.S.

What Economic Recovery? No big Xmas sales for Sears & Kmart, up to 120 stores will be closed, look out Pocatello & Chubbuck

“While our past practice has been to keep marginally performing stores open while we worked to improve their performance, we no longer believe that to be the appropriate action in this environment.”-Lou D’Ambrosio, CEO of Sears Holdings

Sears Holdings, which owns Sears and Kmart stores, said this year’s holiday sales sucked big time!  They’re claiming a big drop in business compared to last year (as much as 5.2%), and they just can’t afford to keep their “marginally performing” stores open.

The cities of Chubbuck and Pocatello, Idaho, are home to such marginally performing stores.

sears chubbuck

Sears at the Pine Ridge Mall in Chubbuck

The Sears is located in the Chubbuck Pine Ridge Mall, and has never done well (I used to work for the mall before it was sold to a company out of Chicago, Illinois).  Two other ‘anchor’ stores, that were doing better than Sears left the mall a few years ago, and many people around here have been wondering why the Sears is still open.  Well, it might finally be curtains.

pocatello fred meyer

Fred Meyer at the former Pocatello Mall location

The Sears in Chubbuck used to be located in the old Pocatello Mall, but that mall went down the toilet in the late 1990s, and has since been torn down and replaced with a Fred Meyer dominated strip mall. Even the new Fred Meyer strip mall suffered the demise of the Gottshalks store a few years ago.

gottschalks pocatello

The vacant Gottschalks, in Pocatello, Idaho

In Pocatello, the Kmart has been struggling for years, the customer foot traffic has never come close to what the Chubbuck WalMart, or the Pocatello Fred Meyer gets.  After Sears and Kmart merged to form Sears Holdings (and the Kmart bankruptcy), the Pocatello Kmart was spared from the many closings of Kmarts around the country.  But this might be the writing on the wall for the Pocatello Kmart.

Kmart Pocatello

Big Kmart, with small sales, in Pocatello

Even though business for Sears and Kmart continues to crash, a recent customer satisfaction survey, by Strategic Resource Group, showed that dedicated Sears/Kmart shoppers were happy with the service.  SRG also thinks most Kmart closings will take place outside the North East/Great Lakes region, and that means Idaho is a target.

Speaking of Target, Target and WalMart are the main reasons why Sears and Kmart are going down; they just can’t compete.  (do the economic analysts ever consider the fact that we “consumers” no longer have the cash or credit to support so many retail businesses?)

For Sears and Kmart stores that will remain open, big time cuts are planned.  Sears Holdings wants to cut $300 million, just in inventory.  They hope to cut another $200 million in ‘fixed’ costs (that’s industry code which includes employees and employee benefits).

Happy New Year!

 

 

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

Corporate Hypocrisy: FMC spends money to take over companies that clean up pollution, yet refuses to clean up Idaho Super Fund site? FMC issues millions in debt notes, to join the growing trend of stock buybacks by Corporate America.

From 1949 to 2001, U.S. based FMC operated a phosphorus processing plant in southeastern Idaho, just west of Pocatello and Chubbuck.  Ten years later that plant is now an EPA Superfund site, and locals are still waiting for FMC to clean it up!

The hypocrisy is that FMC has been going around spending money buying up companies that specialize in environmental clean up!  The most recent purchase was Canada’s Adventus Intellectual Property: “Adventus presents an exceptional opportunity for FMC to broaden its growing portfolio of advanced specialty solutions serving the global site remediation market.”-Mark Douglas, FMC Industrial Chemicals

FMC site, west of Pocatello and Chubbuck, south of Fort Hall Reservation

So if FMC can buy up companies that specialize in environmental clean up, why can’t FMC clean up it’s old phosphorus plant in southeastern Idaho?

FMC claims to have annual sales of approximately $3.1 billion!  Yet FMC has just completed the sale of U.S.$300 million worth of debt notes.  Why does it need to do that?  According to FMC officials they’re jumping on the new trend of Corporate America buying back their stocks.  FMC wants to buy back at least $200 million of their own shares!  Instead, shouldn’t they spend that on cleaning up their Idaho Superfund site?

Recently the Environmental Protection Agency held public meetings in southeastern Idaho, to discuss ways to clean up the old FMC site.  Capped ponds at the site are emitting toxic phosphine gas.  There was also decades of dumping before the EPA was created. There is concern that contamination is leaking into the ground water, and nearby rivers.

 

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

Global Economic War, Global Food Crisis, What Economic Recovery? Big Potato producer Simplot to close plants, laying off 800 east Idaho workers (updated with pictures)

In the name of efficiency, and international competition, J.R. Simplot is building a new potato processing plant.  It will use only 250 employees.  The problem is that the new highly efficient Simplot potato factory will replace three existing plants (in Nampa, Caldwell & Aberdeen), resulting in 800 Idahoans losing their jobs.  That’s a net loss of 550 jobs.

East Idaho doesn’t have a big population so the job loses will hit hard: “It’s going to have a negative impact on Nampa and Caldwell and the whole country. We’re encouraged that they will remain in Caldwell, but certainly concerned about the overall impact of job loss.”-Steve Fultz, Caldwell Economic Development Council

J.R. Simplot officials say it’s necessary to build such an efficient factory, because global competition in the food market is getting tougher.  In fact potato prices for this years potato season have fallen to the point that Idaho farmers will be lucky to break even.

At least Simplot employees have been given a decent heads up; it’ll be at least two years before the new super efficient potato processing plant will be completed.

J.R. Simplot has been streamlining operations in Idaho since the 1990s.  Simplot’s corporate headquarters used to be in Chubbuck, Idaho.  But they closed it down and moved to Boise right after I moved to Chubbuck.

Their Chubbuck HQ was replaced with the TJ Maxx/IHOP strip mall.

Former location of J.R. Simplot Corporate HQ, Chubbuck, Idaho

The metal awnings/canopies covering the Simplot HQ entryway can now be seen in front of the Pocatello City Hall.

Ex Simplot Chubbuck HQ canopies adding charecter to the otherwise drab Pocatello City Hall

 

Idaho, U.S.

What Global Warming? Winter like weather shuts off water for residents of Chubbuck, Idaho (has pictures)

The morning of November 5, hundreds of Chubbuckians awoke to no water in the their taps.  This after a small overnight snow storm (a little early for the Pocatello/Chubbuck area).

chubbuck water break, nov 5,2011The water main break happened in front of a residence and the Saint Paul Catholic Church, on West Chubbuck Road.

The water had blasted its way down a full city block, flowing over the sidewalks.

water main break chubbuck nov 5,2011Weekend city crews were working hard to solve the problem.  As of  15:00 hours (3pm Mountain time) they began opening up fire hydrants throughout the affected neighborhoods.

backhoe water break

Good thing we got snow; time to start collecting buckets of snow so we can flush our toilets! (actually water was flowing through the taps again by 16:00 hours/4pm Mountain time)

Business/Economics, Idaho, U.S.

What Economic Recovery? One Idaho city wants to give itself a raise, taxpayers say Bull Crap! City does it anyway, increases property taxes!

The city of Chubbuck gave city employees a raise in salary and benefits, at the expense of property owners.  Property taxes were increased 2%.

Residents had told city officials no way!  Not when so many taxpayers have seen their incomes go down, and many don’t have health insurance.

One resident even suggested an end of year performance bonus for city employees.  But that fell on the deaf ears of the city council, they ended up voting to increase property taxes.

There are several abandoned homes in the area I live in, the city has taken over lawn care because everything was dying.  There are even more homes with ‘for sale’ and ‘for rent’ signs.  How can the city justify increasing the property tax?!?

Business/Economics, Idaho

Pocatello & Chubbuck, Idaho, running out of water

The city of Pocatello is back to the drawing board after voting against buying $6.2 million worth of water rights.  The deal would have been made with Portneuf Marsh Valley Canal Company.  City officials backed out after credible threats of lawsuits from water users “downstream”.

Water is a big issue for Pocatello.  Its main source of water is the Lower Portnuef Valley Aquifer, and it’s running dry.  The Portneuf River flows through Pocatello, but it does not recharge the aquifer, and the city does not take any water from it.

To add to the problem, the city of Pocatello is not the only one using the Aquifer, the city of Chubbuck also gets its water from the same source.

For a long time it was thought that surface water runoff made its way to the ground water (Aquifer), but now its known that most surface water runoff just ends up in rivers heading out to the oceans (although some recharging comes from Mink Creek, and snow).

Geoscientists believe the Lower Portnuef Valley Aquifer was created 17,000 years ago when a natural dam broke, releasing a huge sea into the area (Bonneville Flood).  Part of that sea was trapped in what is now known as Lower Portnuef Valley Aquifer.

Another issue is that while many aquifers are held in small rock formations, even pebbles and sand, the Lower Portnuef Valley Aquifer is trapped by huge boulders, which were part of the natural dam holding back the ancient sea.  You can see huge boulders around the area now.  Every time a housing development goes in they end up spending a lot of time digging out the boulders in order to put in basements.  It has also resulted in lucrative local rock mining businesses.

The water in the Aquifer is almost finite, it does not easily recharge as was once thought.

However, while most rain ends up in rivers, any water from slow melting snow, or used on farms or residential properties can get into the Aquifer.  The problem is that large boulders do not filter the incoming surface water, like sand or pebble aquifers. This means the Lower Portnuef Valley Aquifer is very vulnerable to contamination.

To add to that, the soil is only about 2 to 8 feet thick, before you hit rock.  I can attest to that since I’ve done a lot of landscaping here, and I grow vegetables and fruits.  I can dig the depth of a shovel blade and hit rocks 4 inches in diameter or bigger.  The thin soil means if you dump used motor oil on the ground, or use chemicals on your garden, it’s almost instantly heading for the Aquifer.

There is a three part (boring, basically a college lecture from 2010) video explanation of the Lower Portnuef Valley Aquifer issue, presented by Glenn Thackray of Idaho State University:

 

Thackray explains that the cities, residents, farmers and businesses take out more water from the Lower Portnuef Valley Aquifer, per year, than what flows into the Aquifer.  This has been going on for a long time, and is why we’re running out of water.  Add to that the fact that we’ve had some very dry winters, with less than normal snowfall (a big source of recharge, because it melts into the ground, unlike rain that runs off).  The water level has been dropping since the 1990s.

Pocatello city officials say they are taking this issue seriously, and are being proactive about finding a solution.

Idaho, Opinion

East Idaho Media Misleads on School Levy Issue

March 8, 2011, Chubbuck, Idaho.

Today I voted on our local school district’s supplemental levy.  The ballot clearly states “7,500,000 for 2011-2012 and 7,500,000 for 2012-2013” school years. Do the math, that’s 15 million over two years.  I watched a local TV news live report, 5 & 6pm, on the voting.  In the 6pm newscast their live reporter clearly said that the levy for my district was “1.5 million”.   That’s one point five million, say what?  It is clearly stated on the ballot that it’s seven and a half million each year over two years, which equals fifteen million, not one point five million.  I checked the local TV station’s website, and even on their web site they have a story from the day before that says my district’s levy is: “Pocatello/Chubbuck School District 25 Supplemental Levy – $7.5 million per year for two years“.   Either their live reporter is deliberately misleading the audience (as well as the anchors because they did not correct her), or their reporter needs to go back to school and retake math (same for their anchors)!

Idaho

Pay for Local East Idaho City Officials a Bargain

My critical attitude towards local City officials was tempered, a little, after reading the amount of pay they get.

To make it clear what a bargain the officials of Chubbuck, Idaho, are, I’ll remind you that Allstate announced the planned opening of a call center here, with a starting annual salary of $27,000.

According to the Pocatello League of Women Voters, the Mayor of Chubbuck gets $45,000 per year.  Doesn’t seem bad for Chubbuck, but then the official population for the city is only 9,700.  It gets better with the city council. Chubbuck City Council members get $6,300 per year.

Obviously they’ve got to have income from elsewhere, and explains why most are business owners.  As local business owners it means, theoretically, that they are very concerned with the local economy.  This is another reason why your voting attention needs to be focused locally; your local officials have more impact than some fat cat in Washington D.C.

Pocatello, bigger than Chubbuck, with an official 2000 census population of 51,466, pays its officials more.  The mayor gets $74,268, but compare that to the city council.  They get paid $10,033 per year.

I hope local officials don’t push for an increase in their pay.  The local voters and taxpayers, of Chubbuck and Pocatello, are getting a real deal with current salaries.  The League of Women Voters of Idaho have their own website; lwvid.org.  The information about the pay of officials is published in a brochure.  For Pocatello and Chubbuck, it is published by the League of Women Voters of Pocatello. It also contains county, state and federal official’s salaries.