Tag Archives: disaster

Fukushima

Japan Quake = No Economic Recovery

11 March 2011.

Japan’s huge earthquake, Tsunami and huge aftershocks, are not only devastating for the people of Japan, but are devastating to Japan’s economic recovery, as well as the world’s economic recovery.

Infrastructure for densely populated areas of Japan, hit by the flooding, are destroyed. Nuclear power plants are shut down. One nuclear power plant is in emergency mode because its cooling system, and back up systems, have failed. Auto manufacturing plants have been shut down. A major oil refinery is on fire. A lot of the land flooded by the Tsunami is farm land, which means no crops this year, adding to the what the UN is calling a World Food Supply Crisis for 2011.

This on going event of Mother Earth is adding insult to injury for Japan’s struggle for economic recovery. Before the quake hit, Japan’s so called recovery stalled, with its credit rating downgraded because the country is deep in debt. Recently there was hope that investors would start buying up stocks in Japanese companies, because they were considered a bargain, and, it was thought they would pick up in value as the Japanese recovery picked up steam. Now all that is in doubt.

It looks like Japan, helped by Mother Earth, might become the next domino to fall in the world economic crisis.

Business/Economics, Idaho

Hoku Turning to China to Help Finish Pocatello Plant

13 October 2010

Hoku Corporation has taken on several millions of dollars in loans, from Chinese banks, in order to finish construction of their Pocatello, Idaho, polysilicon plant.   That’s according to information on Hoku’s website.

Also, Hoku has amended its construction contract with JH Kelly.  A result of delays due to Hoku having difficulty with funding the construction.

Hoku Corp. produces fuel cell membranes, photovoltaic systems, and hopes to produce polysilicon for solar panels at the new Pocatello facility.

Hoku has made several supply agreements with companies based in Asia, but, those agreements hinge on the completion of the Pocatello plant, and, successful demonstration of polysilicon production.  Those agreements have resulted in hundreds of millions of dollars of pre-payments by the Asian companies.

Hoku is hoping to get production started by the end of the year.

Idaho, Opinion

Red Cross Hummers. Why?

Brand new Red Cross Hummer seen in the Fred Meyer parking lot in Pocatello, Idaho.

General Motors has been donating Hummers to the American Red Cross since 2004, along with a lot of cash ($100,000 in 2004). GM claims the vehicles help with disaster response. I can see the Hummer H1 as practical for this, but the H2 & H3 are among the most impractical  SUVs out there.

Why not deck out one of GMs big four door 4×4 pickups with all kinds of rescue gear, that would be more practical. Are the H2s & H3s meant for rescuing the upper class in style?

This is just another example of the lack of wisdom in our corporate leadership. Oh, but wait, I bet GM got a huge tax write off for doing this. A tax write off for an expensive vehicle that was seeing declining domestic sales (a little more than 9,000 in 2009 compared to almost 56,000 in 2007). Oh, isn’t General Motors the company that got bailed out by U.S. taxpayers (yes, they did pay it back, at least on paper).

Here’s better news; the Hummers aren’t even made anymore. The Chinese government rejected plans to buy Hummer, and GM officially ceased production this year (apparently the last Hummer H3 left the production plant in May 2010).

So the question now is; is GM going to continue to donate vehicles to the American Red Cross, or was it just a way to write off their unsold Hummers? If they do give the ARC more vehicles I hope they choose a more practical truck.