Tag Archives: economy

Business/Economics, International, U.S.

What Economic Recovery? Mitt Romney’s Staples to close 75 stores! Downsize 30 more!

26 September 2012, Staples, considered an example of success for vulture capitalist Bain Capital (Mitt Romney sat on Staples’ board of directors for more than a decade), is in big trouble.

On 25 September, officials with Staples announced they will close down 75 stores worldwide (at least 30 in the United States with 15 of those being accelerated closings, 45 stores and delivery businesses in Europe).  Staples will also downsize/relocate another 30 stores in the U.S.

Will the Pocatello, Idaho, Staples make the new closings hit list?

Common sense tells you that means more job losses, even though company officials are claiming that won’t happen.

Sales at Staples are crashing, especially for computers.  Company officials say they are shifting to more internet based business.

For the quarter ended July 2012 Staples reported an overall 6% decrease in sales, compared to the same time in 2011: “Our second quarter results fell short of our expectations due to softer than expected sales trends in North America and ongoing weakness in Europe and Australia.”-Ron Sargent, CEO

In North America sales decreased 3%, but around the world Staples saw a 10% decrease!

Staples has also revised its future sales outlook downward, and is expecting hundreds of millions of U.S. dollars in costs just to close down all those stores!

Mitt Romney, and others with Bain Capital, once called Staples their prime example of success.  Here’s just a sampling of other companies that Bain Capital is involved with: AMC Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Clear Channel Communications, Domino’s Pizza, DoubleClick, Dunkin’ Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), Sealy, The Sports Authority, Toys “R” Us, Warner Music Group and The Weather Channel.

Once you start investigating all the companies that Bain Capital is involved with, or affiliated with, it becomes clear that it is unAmerican Corporate America’s vulture (venture) capitalist investment companies that are killing our economy.

And Mitt Romney says as President of the United States he’ll do for the country what he did for Corporate America!

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

What Economic Recovery? Hewlett Packard spending millions to save money in Idaho? Announces even more layoffs! Refuses to pay fair share in taxes! Hoping to save itself by making a deal with the devil: Israel!

“Just think of all the value that they have destroyed. It has been a case of just horrible management.”-Brian Marshall, ISI Group

23 September 2012, the past month has been a busy month of announcements from struggling computer maker, Hewlett Packard (HP).

At the end of August, HP reported a quarterly loss of $8.9 billion USD! (Dell computer maker also reported a big loss)  Then at the beginning of September, HP officials announced they will layoff 29,000 employees by 2014, that’s an increase of 2,000 from their layoff announcement in May of this year.

HP blamed the quarterly loss on down sales, and the cost of downsizing the company!

According to an Idaho Statesmen report, HP spent $50 million, over the past few years, downsizing its operations at the huge Boise HP campus.

The report also pointed out that HP is refusing to publish just how many people have lost their jobs at the Boise campus.  The Idaho Statesmen estimates it to be in the hundreds (at least 320).

HP also isn’t mentioning the fact that they’ve spent more than $40 billion on buying up worthless companies!

Just days ago a U.S. Senate investigation revealed that HP is one of thousands of unAmerican Corporations (including Microsoft) that are working hard to avoid paying taxes.

“The bottom line of our investigation is that some multinationals use our current tax system to engage in shams and gimmicks to avoid paying the taxes they owe.”-Carl Levin, Senator from Michigan

The Senate Permanent Subcommittee on Investigations discovered that HP avoided paying $4.5 billion in taxes, from 2009 to 2011, by using complicated offshore loan deals  (you see it’s not just Mitt Romney, everyone in unAmerican Corporate America does it).

Of course HP officials deny it: “I can assure the committee that HP takes seriously its obligations to accurately follow accounting principle and to pay taxes that it owes.”-Lester D. Ezrati, HP

HP also has operations in Israel, and today it was announced that HP is in the running for a huge military contract worth half a billion USD!  (IBM, Dell and Lockheed Martin have also bid)

The contract will be for a new huge Israeli Defense Forces (IDF) computer server farm based in the Negev desert.  It will be the main server farm for electronic logistics, communication and military intelligence operations being run by other newly built bases in the Negev.

Business/Economics, Idaho, U.S.

What Economic Recovery? Hoku pulls stocks from NASDAQ, deregisters with SEC.

Hawaii based Hoku Corporation is no longer selling stocks, through NASDAQ anyway.  At the beginning of September 2012, Hoku filed a Form 15 with the U.S. Securities and Exchange Commission (SEC), asking for their existing shares to be deregistered.

This means Hoku will not have to make any reports to the SEC for the next 90 days.

Back in July Hoku delisted from NASDAQ.  Hoku Corp. is blaming their fall on the crashing price of polysilicon.  Hoku Corp. shut down their Hoku Materials polysilicon operation in Idaho, back in May.

Hoku Corp. is looking for a buyer for its Hoku Solar division.

Hoku Corp. stocks are now being traded Over The Counter (OTC). As of  17 September 2012, they were selling for only .07 cents per share.

HOKU CONTINUES DOWNWARD SPIRAL. POCATELLO PLANT MOTHBALLED! 

Idaho, U.S.

Idaho Wildfire Update, 20 September 2012: Another smokey day, still leading the nation, firefighter accused of starting fire! Forecasted dry winter, not good!

20 September 2012, Idaho leads the United States with eight major fires.

Smoked out sky over Cotant Park, Chubbuck, Idaho, about 08:45 hours 20 September 2012.

Even though the sun was high after 08:00 hours (8am for 12 hour clock users), the light was no brighter than dawn (don’t you love your itchy eyes?).

Boise County Sheriff’s Department has arrested an 18 year old firefighter accused of starting the Karney Fire, which burned at least one home, and is threatening another 100.

The firefighter was arrested while fighting the very fire he’s accused of starting.  Sheriff’s officials think the motive was to get attention!

Weather forecasters are calling for another dry winter for Idaho. Idaho has been in a drought since 2000.

Regarding the Mustang Complex Fire, officials said the only thing that’ll put it out is hoped for autumn rain and winter snow.  But, if this winter is going to be dryer than last year then we’re in for a really long fire season!

For 2013 the National Research Council predicts another record fire year!

Idaho now has 807,308 acres (326,705.9 hectares) of burned land.

Halstead (Salmon-Challis National Forest): 172,128 acres (69,657.7 hectares), area closures are in effect.

Karney (Southwest Area Office, Idaho Department of Lands): 350 acres (141.6 hectares), structures are threatened, evacuations are in effect.

McGuire Complex (Nez Perce National Forest): 59,141 acres (23,933.5 hectares), communities threatened, evacuations are in effect.

Mustang Complex (Salmon-Challis National Forest): 327,017 acres (132,339 hectares), area closures are in effect.

Powell SBW Complex (Clearwater National Forest): 49,925 acres (20,203.9 hectares).

Sheep (Nez Perce National Forest): 41,036 acres (16,606.6 hectares), structures are threatened.

Trinity Ridge (Boise National Forest): 146,832 acres (59,420.8 hectares), area closures are in effect.

Wesley (Payette National Forest): 10,879 acres (4,402.5 hectares), residences are threatened.

IDAHO WILDFIRE UPDATE, 17 SEPTEMBER 2012:  PURPLE HAZE

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s Coldwater Creek loses $17 million! Store closings will continue!

On 29 August 2012, Coldwater Creek reported a 2nd quarter loss of $17 million USD.  It’s the third quarter in a row for the women’s apparel retailer.

The Sandpoint, Idaho, based company blames it on falling sales (again).

Direct catalog sales dropped $5 million, retail/outlet stores and spas dropped $12.3 million, compared to the same time last year.  Some of the sales loses were blamed on the closing of 24 Coldwater Creek stores across the United States, since 2011 (four closed during the 2nd quarter of 2012).

Company officials say one of their plans to improve financial performance is to move existing stores into smaller locations, as well as closing another 20+ stores by 2013.

NASDAQ is threatening to delist Coldwater Creek from its stock exchange, because the price of one share is still below $1.00.

Also at the end of August, a former Coldwater Creek official was sentenced to 18 months in prison, and more than $246,000 in restitution, after pleading guilty to embezzling the company.  The judge rejected a plea agreement which called for a sentence of only 90 days in jail.

Idaho, U.S.

Idaho Wildfire Update, 17 September 2012: Idaho leads with most active fires, Purple Haze air quality!

17 September 2012, Idaho leads the U.S. with seven large fires. Montana, Washington and Wyoming have four each. California and Utah with one each.

Click pics to make bigger.

The weather is being blamed for an increase in smoke.  Two counties in Idaho have been issued Purple Air Quality alerts, the second worst condition after Maroon (Hazardous).  Purple means visibility is only one to one and a half miles (1.6 to 2.4 kilometers).

The Idaho Department of Environmental Quality (DEQ) issued the alerts to Lemhi and Custer counties.

The smoke is hurting local business: “It has been smokey up here off and on for six weeks. It looks like everybody has fires in their yards because the smoke is hanging in between the trees. It burns your eyes and it smells like you are standing over a campfire. We’ve lost a tremendous amount of business.”-Sharon Osgood, Greyhouse Bed and Breakfast

Jan Flynn, Idaho Director of the American Lung Association, says she’s never seen it so bad in the Gem State: “I’ve never experienced smoke like that before.”

The problem is a low pressure system off the California coast, and a high pressure system near Washington/British Columbia. They are not moving, holding the building smoke in the Rocky Mountain area.  Weather forecasters don’t think the pressure systems will move until after this coming weekend.

IDAHO WILDFIRES, POCATELLO TANKER BASE: 13 SEPTEMBER 2012, SIKORSKY & USMC IN TOWN

IDAHO WILDFIRE UPDATE, 12 SEPTEMBER 2012: MORE AIR TANKERS ARRIVE AT POCATELLO TANKER BASE. EVACUATIONS IN EFFECT!

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

What Economic Recovery? Wars on Terror, anti-Islam movies, sanctions against Iran, all part of conspiricy to jack up oil prices beyond $150 per barrel? The real shadow war?

16 September 2012, get ready for higher oil prices!

Iranian officials in the Organization of the Petroleum Exporting Countries (OPEC) said the real price per barrel of oil should be around $150 USD.  Their reasoning varied from the time of the year, to comparisons of prices by inflation (1970s compared to 2000).  They even said the World economy can handle much higher prices.

Not sure if they are talking about British Brent crude prices, or U.S. West Texas Intermediate (WTI) crude oil.

On 14 September 2012, Brent crude went over $117 USD per barrel.

Reading a Canadian report, turns out that’s still not high enough!  The Canadian province of Newfoundland/Labrador have set their government budget in the hopes that Brent crude will go over $124 USD per barrel.  The province makes most its money off oil production.

In fact, because Brent hasn’t hit the magic money mark, yet, the provincial Premier, Kathy Dunderdale, had to cut their budget: “I’m not so worried about this year. I’m more worried about next year. Because if oil stays where it is, our deficit could be around $1 billion [CAD] next year.”

In other words, some governments, who’s major money making industries happen to be the oil industries, want oil prices to skyrocket!!!

However, Iranian OPEC officials say the United States is trying to bring down oil prices, by demanding OPEC members increase oil production.

A few years ago I read an article that explained that most oil producing countries (including members of OPEC) would be losing money if oil were less than $90 per barrel.

So, the reason why the U.S. wants to bring down prices, while other countries want prices to go up, could be that the U.S. domestic oil industry can handle lower oil prices (except for shale oil).  Most other countries have higher oil production costs (like Canada) because of the type of oil and labor costs.

The U.S. model is a kind’a WalMart tactic; keep prices cheap and sell as much in volume as you can until your competition quits.

So what we have are those who want oil prices even higher than they are now, and those who want them to drop.  Is this the real shadow war taking place behind the deadly facade of War on Terror, sanctions and insulting other people’s religions?

Business/Economics, International

World War 3: Germany sells Egypt attack submarines, Israel orders Germany to stop sale! Germany says F-off Israel!

“No country in the world has the right of veto to decisions taken by the German government!”-Thomas de Maiziere, Germany’s Defense Minister

16 September 2012, perhaps German officials are finally getting tired of Israel?

Israel has arrogantly claimed they can veto Germany’s sale of Type 209 attack submarines to Egypt!  Two weeks ago it was revealed that Egypt was buying two of the German made subs, the same type that Germany has been selling to Israel.

Israeli media quoted Israeli government officials as saying this was “a marked deterioration in relations between Israel and Germany”.

The German media says it’s time to stop supporting Israel: “It’s a serious matter when Germany, as the world’s third largest arms exporter, apparently pays little consideration to the consequences of its policy of exporting submarines to Israel.”– Die Tageszeitung

 

International, Opinion, U.S.

World War 3: Palestinians trapped in the Israeli/Palestinan Authority controled West Bank death camp taking to the streets!

“We staged these strikes because of prices, tax rates and the fact that the Palestinian Authority steals tax revenue……..We pay double taxes, both to the Transportation Ministry and to the Ramallah municipality. Why is that?”-West Bank taxi driver

15 September 2012, people in the United States don’t understand life in the slow motion death camp known as West Bank.  Unfortunately for many people in the United States they see nothing wrong with double or even triple taxation (local, state and federal taxes for the same things, like fuels, roads and education)!

Unlike the Gaza Strip, where the Israel Defense Forces (IDF) routinely use Palestinians as target practice on a weekly, if not daily basis (never reported in U.S. main stream media), the Palestinians in the West Bank are subject to extreme economic controls (similar to what the NAZIs did to the Polish Jews in the Warsaw Ghetto during World War 2).

Many West Bankers (which include Palestinian Christians and Jews, not just Muslims) are blaming the Palestinian Authority (PA), the political party in charge within the West Bank.  The PA has a policy of trying not to piss off its Israeli masters.  Many taxes collected by the PA end up going to the Israeli government, after PA officials skim off what they can for themselves!

It’s gotten so bad that commentators on West Bank TV recently tried to criticize the PA, live on television, their audio was cut off.

A veteran Palestinian ‘peace negotiator’ stated that the only way for West Bank Palestinians to rise up against Israel is to get rid of the PA.

One of the games Israel has been playing is to hold back on tax reparations, calling it “measured assistance”.  Israeli Prime Minister, Benjamin Netanyahu, says this is the only way to control the West Bankers.  Measured assistance also creates an economy so bad that West Bankers are willing to work for peanuts inside Israel, if the Israeli government will let them.  Recently the Israeli government approved 5,000 work permits for desperate West Bankers.

According to the World Bank there are almost three million people living in West Bank (many international organizations say it’s much more), which is 5,628 square kilometers (2,173 sq mi) in size.  But the Palestinians are being squeezed out almost weekly.  For the past few years the Israeli government has authorized the building of hundreds of internationally illegal settlements in West Bank, which means illegally evicting the Palestinians.  Many Israelis are evicting Palestinians on their own and building their own settlements without government authorization.

On 12 September Israeli courts allowed the expansion of one settlement onto private Palestinian land.  The settlers had used an old military order to justify their expansion.  However, that order was modified in 1979, to state that the military can not take land for civilian use.  The courts claim that Palestinians will be compensated for the land, but, where can they go after they’re forced to sell it?

West Bank just saw the end of a week of protests against the economic conditions there (did you see mentions of it in the U.S. main stream media?), now more protests because of a anti-Islam movie, made by a pro-Israeli right wing U.S. christian con artist.  Will there finally be intifada against the Israeli puppet Palestinian Authority?

Business/Economics, International, U.S.

Government Hypocrisy: United States renews Iran sanctions exemptions for 11 countries! Sign that the U.S. isn’t ready for war with Iran, yet.

14 September 2102, U.S. Secretary of State, Hillary Clinton, revealed that eleven countries are being exempted from U.S. sanctions against Iran.

They are: Japan, Belgium, Britain, Czech Republic, France, Germany, Greece, Italy, Japan, the Netherlands, Poland and Spain.

As in the first round of exemptions, these latest exemptions are good for 180 days.  This smacks of a government trying to buy time; time to prepare for war, and time to allow allies to stock pile oil.

Hillary Clinton made a statement that sounded like a broken record: “We have brought significant pressure to bear on the Iranian regime, and we will continue to work with our partners to ratchet up the pressure on Iran to meet its international obligations.”