Tag Archives: economy

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

What Economic Recovery? Desperate Mazda to sell out to Fiat, look out that Alfa Romeo might actually be a Miata from Japan!

23 May 2012, after losing it’s former supporter, Ford, Mazda is now desperate for help from a bigger car maker.  In steps Fiat.

Fiat already owns most Italian brands, like Alfa Romeo, Ferrari and Mazarati, and they’re majority owner of Chrysler.

NHK reporting that a deal between Mazda and Fiat would see the two seat Mazda roadster (known as Miata in the U.S.) being equipped with a Fiat engine and sold as an Alfa Romeo.

Mazda and Fiat would work together to produce more fuel efficient engines, and Fiat could incorporate Mazda technology into its Fiat 500 mini car.

Back in March, Mazda reported their fourth straight year of huge losses!

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

What Economic Recovery? HP to layoff up to 48,000 more employees! Texas to be hit hard? Idaho’s printer factory targeted? Blame lack of recovery in Europe!

23 May 2012, Hewlett-Packard (HP) is expected to layoff another 25,000 employees according to an unnamed source, reported in a CNN/Fortune article.

The original report of the 25,000 job cuts came from Bloomberg on 17 May 2012.  It includes about “…10,000 to 15,000 from Hewlett-Packard’s enterprise services group.”  HP’s enterprise services is headquartered in Plano, Texas.

However, on 16 May 2012, Business Insider reported that HP wants to layoff up to 15% of its employees. “Layoffs are going to be significant.” HP has about 320,000 employees, if they go for a 15% cut that’s 48,000 people losing their jobs!

The Wall Street Journal (WSJ) is reporting that HP will report huge losses after the stock markets close today, 23 May. The WSJ Market Watch is expecting HP to report a quarterly earnings decline of 27%, with overall revenues down by 5%.

Fox News reporting that HP is suffering from the bad economy in Europe, which makes up 37% of HP’s business: “The increasing uncertainty and resulting macro weakness in Europe will likely act as an ongoing headwind to growth.”-Chris Whitmore, Deutsche Bank Securities

CNN is reporting that “Many of the job cuts are expected to come from the printing unit.” Back in march, HP announced it was merging its computer and printer factories.  However, this is not the first time HP has combined computer and printer production.

The last attempt was made in 2005, and was reversed six months later.

According to the IdahoStatesman, more than 50% of HP’s Boise, Idaho operation is printing and imaging.  When the IdahoStatesman questioned HP’s Boise campus boss (back in March), he claimed he was unaware of the merger of computer and printer operations.

Hewlett Packard has been slashing and burning ever since 2009, when employees got a 5% pay cut.  Then in 2010, about 9,000 jobs were cut. In February 2012, 275 people lost their jobs due to the canceling of HP’s webOS.

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

What Economic Recovery? New U.S. tariffs on Chinese solar panels could be the final nail in the coffin for Idaho’s Hoku Materials

Troubled Hoku Materials polysilicon factory in Pocatello, Idaho, could be finally done in by the latest U.S. tariffs against Chinese solar panel companies.

Hoku Materials is a division of Hoku Corporation, which in turn is a subsidiary of Tianwei New Energy Holdings, which is an affiliate of China South Industries Group Corporation (CSGC).  Hoku Corp turned to China for financial help a few years ago, which is how it became a a subsidiary of Tianwei New Energy Holdings.

The Chinese companies were hoping to get around any possible future U.S. tariffs by taking over Hoku, but it’s now clear that was a wasted investment for them.

On May 17, 2012, the U.S. Commerce Department announced new tariffs on Chinese solar product makers, claiming that China dumped (sold for far less than what it cost to make them) their products on the U.S. market.

The new action, approved by President Obama, imposes tariffs of 31% or more on solar products coming from China. So far, Hoku Materials’ contracts for polysilicon are with Chinese companies only.  Despite several official start-up announcements, their polysilicon factory in Idaho has yet to actually start up!

Prior to the new U.S. tariff announcement, stock in Hoku Corp was trading at less than 30 cents per share.

GOOD AND BAD NEWS FOR IDAHO’S HOKU MATERIALS

Business/Economics, International, U.S.

World War 3: Money for Taliban coming from United States? 158 U.S./NATO troops killed. More airstrikes. Turkey to train police.

May 18, 2012, International Security Assistance Force (ISAF) said two U.S./NATO personnel were killed during a Mujahideen attack, in eastern Afghanistan.  ISAF SOP means they don’t give anymore info.

At least 158 occupying personnel, including 110 U.S. troops, 20 British soldiers and 28 soldiers from other occupying member countries, have been killed since January 2012.

In Maidan Wardak Province a U.S./NATO airstrike was called in after Mujahideen were spotted laying mines.  The airstrike took place at about 02:00 hours. According to local officials, the airstrike killed at least five Mujahideen, plus three were killed later on.

The Ministry of Interior Affairs of Afghanistan announced that 500 police trainees will be sent to Turkey for training.   The announcement was made after another group of 500 cops returned from the six months course in Turkey. So why is the U.S. there, and why is the U.S. spending tax dollars paying for police training?

May 17, 2012, the United States Treasury Department imposed sanctions on two people in Afghanistan, for supporting the Taliban with money. The sanctions are meant to target financial sources within the United States!

However, the evidence Treasury officials used was old.  The most recent money transfer was made in 2002, when one of the men was paid $500,000 USD to buy a factory.  The money supposedly came from Osama bin Laden.

Treasury officials also said that during the late 1990s to 2001, when the Taliban ruled Afghanistan, about $2.8 million USD was transferred out of European banks to the two men.  The two men acted as banks, in order for the Taliban government to avoid sanctions.

The sanctions against the two men are meant to block any transactions involving U.S. banks, or individuals living in the U.S.  In a round-a-bout way the U.S. Treasury has revealed that one major source of financing for the Taliban was the United States!

So far, no 24 hour, ISAF Joint Command Morning operational update for May 18, 2012.

 

 

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

What Economic Recovery? It’s official, Toshiba & Hitachi end TV production in Japan. Blame Korea, U.S. & digital broadcasting!

May 17, 2012, Toshiba announced no more TV set production in Japan, no thanks to competition from South Korea, and crashing sales in the United States!

Toshiba reported a $620 million USD loss for the past Japanese fiscal year!

The company also revealed that TV sales in Japan have crashed ever since television broadcasters switched to digital broadcasting last year.

Toshiba will continue TV production in factories outside of Japan.  Hitachi also announced they will end TV production in Japan, in September.

Business/Economics, International, U.S.

World War 3: Japan sues U.S. over Iran sanctions! U.S./U.K. media lie about Japanese bank freezing Iranian accounts!

May 17,2012, according to Japan’s NHK the Japanese bank, Bank of Tokyo-Mitsubishi UFJ, is suing the United States over a court order to freeze Iranian accounts.

Western media has been reporting that the Japanese bank has frozen the accounts, but that’s not what Japanese media says.  Bank of Tokyo-Mitsubishi UFJ filled the suit on May 16, but refuses to make any public comments.

The U.S. court order is not about current sanctions against Iran, but is an old civil suit claiming that Iran was responsible for the 1983 bombing of the USMC barracks in Beirut, after the U.S. invaded Lebanon.

The families of the killed Marines have been led to believe Iran should pay, yet there is no concrete evidence that Iran was behind it.  Lebanese who claim to be connected to the bombing say they were simply defending their country against the U.S. invaders.

Yasuhiro Sato, chairman of the Japanese Bankers Association, says any sanctions imposed on Japanese banks doing business with Iran, will cripple Japan’s struggling economy. So who are the sanctions really against?

 

Business/Economics, International, U.S.

What Economic Recovery? European economies crashing and burning! Greece -6.2% GDP! IMF wants Mo Money! China in trouble!

May 15, 2012, the Group of 20 industrialized countries (not for long maybe?) will be meeting in Mexico, in June.  Already Mexico and Japan are calling for G-20 members (mainly those of the BRICS: Brazil, Russia, India, China and South Africa) to give the U.S. based International Monetary Fund another $430 billion USD!!!

This is because the European economies are crashing and burning. Italy reported a minus 0.8% GDP for the January to March quarter. That’s three quarters in a row of declines! Spain reported a minus 0.3% GDP, for the second quarter in a row. But Greece reported a huge minus 6.2% GDP!!!

The only “good” news came out of Germany, which reported a stagnant 0.5% GDP. And Germany is supposed to be the economic powerhouse of Europe!  Of course main stream western media reporting it as a “bounce back” in the economy, idiots!

Overall, the entire 17 member European Union reported a stagnant 0% GDP for January to March 2012!

To make matters worse, China is reporting that European investment into China has declined for six months in a row!  Chinese officials admitted that their country’s explosive economic growth can only be driven by foreign investment (like unAmerican Corporate America shipping U.S. jobs to China).

From January to April 2012, European investment into China dropped 28%.

 

 

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

Oil & Gas Prices: U.S. media flat lies about Iran’s oil sales!

The Washington Post reporting that Iran can not find buyers for its oil, and is storing oil on tanker ships as a result.

This is a blatant lie because Iran’s oil sales have only increased since the U.S. led sanctions were imposed!

The latest example is of Zimbabwe, which has asked for an increase in Iranian oil and refined diesel fuel.

Also, three ship bookers, including Galbraith’s Ltd in London, confirmed that India is buying more Iranian oil. A Liberian (former U.S. African colony) tanker has been chartered to ship 130,000 metric tons of Iranian crude (per shipment?) to India!

If Iran is storing oil on tankers, why did India have to charter a tanker?

In fact, on May 11, 2012, one Indian official told the U.S. to ‘F’ themselves over the Iran oil sanctions:  “Government of India is perfectly free to take a decision (on this issue). We do not take note of sanctions by other countries….So far as our sovereignty is concerned, we can assure that we will never allow any pressure…There will be less oil or more oil imported from Iran depending on demand. The oil [Indian] companies will decide that.”-Jaipal S. Reddy, India’s Minister of Petroleum and Natural Gas

Japanese media has just reported that Japanese oil companies are increasing the number of oil tanker ships.  JX Nippon Oil & Energy has just bought three 5,000 ton class tankers, and is planning on buying a fourth.  Cosmo Oil is buying an additional tanker.

Japan won an exemption from the U.S. oil sanctions against Iran, so guess where those new tankers are probably going to go for their crude cargo?

Another claim in the Washington Post article is that ships carrying Iranian oil can’t get insurance, because most maritime insurance companies are based in Europe.  However, China and Japan are in the process of buying insurance from Iranian companies!  The Iranian government is conducting a review to allow Iranian insurance companies to cover foreign ships.

Pakistan and Iran are in the process of creating a banking system that will allow Pakistan to buy Iranian oil and gas without going through the usual U.S./U.K. dominated international banking system.

The Iranian government is on the verge of privatizing 15 government controlled petroleum businesses. As part of the privatization process, the Iranian government has already sold 555 million shares of stocks in the companies, and more stocks will be issued!

On May 12, 2012, the Iranian Oil Ministry revealed they had “ratified” 16 new oil projects last year.  That was out of 28 projects submitted.

If Iranian oil is just sitting at the docks, why is the Iranian government approving so many new petroleum projects?

Business/Economics, International, U.S.

What Economic Recovery? Greek Unemployment breaks Records! 60,000 companies went bust!

On May 10, 2012, the Greek Statistical Authority revealed that unemployment continued upward to record levels.

For February 2012, unemployment was at an official record high of 21.7%!

But wait, there’s more!  The reason for the record breaking unemployment was that 60,000 Greek companies went out of business in 2011!  60,000!

Greek business associations say another 60,000 could go bust in 2012!  They blame it all on the “austerity” cuts the Trilateral Commission control government is imposing upon the people of Greece.

On May 6, Greek voters voted to get rid of the U.S. based Trilateral Commission controlled ruling party, but now efforts to create a new government have stalled.

Business/Economics, International, U.S.

What Econimic Recovery? Business profits down, tax collections down, government debt at historic high!

May 11, 2012, the Japanese government reporting that pre-tax profits of Japanese businesses dropped for the first time in the past three years.

For the Japanese fiscal year (which ends in March) 2011 there was a drop of in overall business profits by 13.3%.  This only concerns the 701 companies listed on the Tokyo Stock Exchange.

The Japanese Finance Ministry also reports that the debt of the Japanese government is at a record high.  It is now at $12 trillion USD!

That’s an increase of $437 billion USD since last year.  It works out to about $90,000 USD for every Japanese citizen!

Officials blame everything on the rising value of the yen, which is being caused by the ongoing nuclear disaster at Fukushima Daiichi, and the lack of economic recovery in the United States.