Tag Archives: economy

Idaho’s Coldwater Creek loses a VP, Judge tells former employee to expect more prison time, makes store closings watch list

A 1st District Judge in Idaho, has refused to accept terms of a plea agreement.

The case involves a former executive assistant at Coldwater Creek.  She pled guilty in exchange for paying $251,943 in restitution, a suspended three to 10 year prison sentence, and 90 days in county jail.

She is accused of racking up hundreds of thousands of dollars in fraudulent personal expenses at Coldwater Creek, and taking money from a non-profit group involved in education.

The judge said he didn’t like the 90 day county jail time deal, because there are other cases of fraud, in Idaho, in which the defendants took much less money, and spent much more time in county jail, after making a plea deal.

Also, Overstock.com has hired away Coldwater Creek’s vice president of marketing.

Timothy Dilworth worked for Coldwater Creek since 2000.  But is Overstock.com getting a good executive?  After all, hasn’t Coldwater Creek been losing sales for the past several years?

According to Internet Retailer, out of the top 500 U.S. retail companies Coldwater Creek ranks 93rd (not to bad, if that’s 93rd from the top).

Towards the end of March, Coldwater Creek stocks led a small rally in the retail sector. This was due to a smaller net loss than expected.  However, their sales were less than expected as well.  Coldwater Creek stock is now trading for just over one dollar per share.

A Florida based group called Turnaround Management Association, listed Coldwater Creek as one of dozens of troubled U.S. retailers to watch for store closings, right along with Sears.

Turnaround Management Association specializes in distressed debt, liquidations and bankruptcy proceedings concerning retail companies.

One Year Later: More radioactive shrooms, shoots & beef

Not even a week after Japan set tougher limits on radioactive cesium in food, but more mushroom farms are found to be contaminated.

In a town 300 kilometers (186.4 miles) from Fukishima Daiichi, a farm in Kanagawa Prefecture discovered their mushrooms contain 141 becquerels of radioactive cesium per kilogram.

The new safe limits are 100 becquerels (prior to that the government was allowing food with 500 becquerels to be sold!).

Bamboo shoot farms in Chiba Prefecture have also turned up contaminated.

Ibaraki Prefecture also reporting that bamboo shoots and shiitake mushrooms are contaminated.

In Gunma Prefecture, beef is contaminated with 106 becquerels of radioactive cesium, although the new safe limits for beef don’t go into effect until October!  Gunma officials say they are still asking cattle ranchers not to ship the beef.

ONE YEAR LATER: SOME FUKUSHIMA FARM ANIMALS WILL BE ALLOWED TO LIVE

Government & Corporate Incompetence: USGS says 6 fold increase in U.S. earthquakes caused by Oil Industry! California watch out!

“A remarkable increase in the rate of M 3 and greater earthquakes is currently in progress in the U.S. midcontinent. The average number of M >= 3 earthquakes/year increased starting in 2001, culminating in a six-fold increase over 20th century levels in 2011.”-USGS study, Are Seismicity Rate Changes in the Midcontinent Natural or Manmade?

Around the beginning of January 2012, officials from the U.S. Geological Survey testified to Ohio state officials, that the fracking going on in their state was the cause of a sudden string of earthquakes.

In July 2011, the state of Arkansas banned fracking for the same reasons.

Now a new study by USGS geologists, published by Seismological Society of America (SSA), confirms that “…the seismicity rate changes described here are almost certainly manmade…”, due to “…oil and gas production.”

The study will be discussed in more detail at a meeting from April 17-19.

USGS scientists point out that the area of increased quake activity is not normal for that part of the United States: “A naturally-occurring rate change of this magnitude is unprecedented outside of volcanic settings or in the absence of a main shock, of which there were neither in this region.”

The abstract details of the study also say: “The modest increase that began in 2001 is due to increased seismicity in the coal bed methane field of the Raton Basin along the Colorado-New Mexico border west of Trinidad, CO. The acceleration in activity that began in 2009 appears to involve a combination of source regions of oil and gas production, including the Guy, Arkansas region, and in central and southern Oklahoma.”

But this is not the only recent study published by the SSA to link oil production with earthquakes. Another report linked the April 2010 Alice, Texas earthquake to oil production in the Stratton field: “We conclude it is plausible, although not proven definitively, that production in the Stratton field contributed to the occurrence of the 2010 Alice earthquake and an earlier similar earthquake that occurred on 24 March 1997.”

So far most of the quakes are taking place in areas that don’t normally have much seismic activity, but California has plenty of earthquakes, and there’s a lot of oil and gas drilling, including fracking, going on there!

“On the one hand, the Division [California agency regulating petroleum industry] remains in denial about fracking for oil. On the other hand, they ask for and receive funding to regulate it and then don’t do it, and have no plans to do it [‘it’ as in ‘regulate’].”-Bill Allayaud, Environmental Working Group

What Economic Recovery? Good and Bad news for Idaho’s Hoku Materials

On March 22, 2012, Hoku Solar (a subsidiary of Hoku Corporation, in turn majority owned by China’s Tianwei New Energy) was selected to build a 7.2 megawatt solar farm in Kaua’i, Hawaii.

In December 2011, Hoku Solar actually delivered a 1.18 megawatt solar energy facility, the largest solar power plant in O’ahu, Hawaii.

After the announcement of the 7.2 megawatt solar farm contract, Hoku Corp stock went up 11%.

Now the bad news, another subsidiary of Hoku Corporation, Hoku Materials, is getting hit again by the construction contractor in charge of completing the southeastern Idaho polysilicon factory.

There are reports that once again Hoku has not fully paid its contractor JH Kelly.  This has happened before, and is part of the main cause for many construction delays in the past.  JH Kelly officials say they are taking “action” against Hoku.

Hoku Materials has also played the same game with electricity supplier Idaho Power.  Their latest battle was settled by an Idaho Public Utilities Commission (IPUC) decision.

According to an 15 March 2012 IPUC statement, Hoku got a new electricity contract which: “… reduces Hoku’s monthly minimum payment to about $800,000 for up to 18 months through June 2013.  To protect customers and the company from the lost revenue from the lower minimum payment, Hoku will reimburse the difference between the current and the revised minimum charge in payments spread through November 2014, plus 6 percent interest.  Hoku will also make an initial payment of $3.8 million, with $2 million of that coming from a $4 million deposit already provided by Hoku. The remaining $1.8 million will be paid over the next 18 months at $100,000 per month.  Hoku must give Idaho Power 30 days’ notice when it plans to exceed 10 MW and six-months’ notice when it plans to exceed 20 MW.”  

HOKU MATERIALS’ CUSTOMERS WHO ‘PREPAID’ ARE GETTING IMPATIENT!

What Economic Recovery? Airline pilot? Need a job? Japan needs you!

In yet another sign of population exodus from Japan, the Japanese airline industry is suffering a shortage of airline pilots, and demands for flights are increasing.

As a result the Japanese Transport Ministry will allow planes to be flown by a pilot and a co-pilot who are both older than 60 years.

In 2004 Japan allowed commercial airline pilots to be older than 60 years of age, but co-pilots had to younger than 60.

It’s hoped by allowing older flight crews it will help the Japanese airline industry meet growing demand for flights.  But, if you can speak Japanese they’re hiring.

 

 

One Year Later: Fukushima school enrollment down 70%!

Enrollment at grade schools in Fukushima Prefecture are down 70%.

Before the March 2011 nuclear disaster began at Fukushima Daiichi, there were 54 elementary and junior high schools in the Prefecture.  Now only 42 schools are open, and they are operating in rented areas away from their original locations.

School officials say many families have moved away permanently.

One Year Later: Japanese city offers radiation check up for your house, limited time offer!

A city 140 km (87 miles) from the Fukushima Daiichi nuclear disaster is offering radiation checkups for residents.

Utsunomiya City, north of Tokyo, started the service because of demands from taxpayers.

The city says they can check up to five houses per day, inspecting up to three specific areas requested by the inhabitants, such as the entry way or bedroom, etc.

Inspections done so far show radiation levels below the official safe limits.  This is a limited time offer ending in September.

Government/Corporate Evil & Class Warfare: 12 Myths of Western Capitalist “Democracy”, if you’re a commoner your chances of success are as good as playing the lottery!

The following quotes were published on 7 January 2012, by Portuguese economist Guilherme Alves Coelho.

Myth 1: Under capitalism, anyone who works hard can become rich.

“In fact, the probability of success in the capitalist system for the average citizen is the same as you winning the lottery.”

Myth 2: Capitalism creates wealth and prosperity for all.

“The objective is to enable the employer to accumulate indefinite wealth without being asked how they did it. At the same time the hope is maintained that sooner or later workers will be rewarded for their work and dedication.” 

Myth 3: We are all in the same boat.

“The goal is to create a guilt complex for workers, allowing capitalists to increase revenues and pass their expenses onto the people.”

This is similar to Mitt Romney style vulture capitalism, in which “investors” like Romney used other people’s money to make profits.

Myth 4: Capitalism means freedom.

“The goal is to create something similar to a religion of capitalism, where everything is taken as blind faith, and deny people the right to participate in making macroeconomic decisions. The myth of the freedom to “negotiate” for your job being considered the ultimate freedom.”

Myth 5: Capitalism means democracy.

“This myth, which smoothly follows from the previous one, was created in order to prevent the discussion of other models of societies.”

Myth 6: Elections equal democracy.

“It’s actually the capitalist system, that manipulates and corrupts everything, that the vote is conditioned and elections are merely formal acts.  The simple fact of the bourgeois class minority always winning elections demonstrates it’s non-representative.”

Don’t forget, one of the main reason for the 1776 Revolution that created the United States was no representation in the British government!

Myth 7: Alternating parties in office is the same as having an alternative.

“It is intended to make people believe that the political parties that alternate periodically in power have alternative policies.  In fact this apparent multi-system or bi-partisan is a one-party system. Two or more factions of the same political organization, sharing the same capitalist policies alternate in power, simulating independent parties with alternative policies.”

Another way to say this is the Democrats and Republicans are two sides of the same coin.

Myth 8: The elected politician represents the people and can therefore decide for them.

“…once in power, the elected…Does not fulfill what he promised and what is even worse, put in place measures that were not talked about publicly before, often opposite what was promised and even unconstitutional.” 

“…being a major cause of the growing number of people who do not vote.”

Myth 9: There is no alternative to Capitalism.

“It is intended to make people believe that capitalism, though not perfect, is the only political/economic regime possible…The aim is to eliminate competition from other systems…using all means, including force…”

This is ironic considering the masses are always told that capitalism is about competition, or that competition is good.

Myth 10: Austerity cuts (severe and enforced economic deprivations) will save the economy and your job.

“It is intended to make people believe that the blame for the economic crisis is caused by the excess of benefits for workers….The aim is basically to transfer to the public, people in general and for workers specifically, the responsibility of paying the debts of the capitalists. Make people accept the plundering of their property in the belief that better days will come later. It is also intended to facilitate the privatization of public/government services….without mentioning that these were the most profitable sectors of the state, whose future earnings are lost as a result.”

Myth 11: Less government equals better government.

“It is intended to make people believe that the private sector manages the state better than the public sector.  The actual goal of capitalists is…to facilitate the takeover of functions and assets of profitable government operations.”

This is exactly what is going on with the U.S. Postal Service.  The USPS is not in trouble because they’re not making money, they’re in trouble because the U.S. Congress refuses to hand over the money the USPS has made from selling postal services (the money earned is actually controlled by Congress).  Remember the U.S. Congress is controlled by Corporate America.

Myth 12: The current crisis of Capitalism is short-term and will be resolved for the benefit of the people.

“It is intended to make people believe that the current economic and financial crisis is a normal cyclical crisis of capitalism, and not a systemic/intentional crisis.  The aim of the capitalists…is continuing to plunder and exploit the people while they can. It has also served for some politicians to remain in power, fueling hope among people that better days will come if they continue to vote for them…..what we see is the continuous deterioration of living standards of people without any hope of improvement.”

Guilherme Alves Coelho also warned that as Western style “democratic” capitalism continues to fail, the capitalist elites will force the working class to make more and more sacrifices.  Proof of this are the continuing and increasing austerity measures implemented by Greece, Italy, Spain, Portugal and United Kingdom, to name a few.  The austerity cuts have been taking place in the various states of the United States since 1999/2000, but they’re not called austerity, they’re called “reforms”, “improvements” and “cutting costs” supposedly to save taxpayer dollars (have they really saved taxpayers any money?).

This is clearly class warfare already being waged by the elites against the rest of us.  Coelho says we the People need to prepare for the final battle: “Today, more than ever, you need to create barriers to the final round of capitalist barbarism, reverse the situation, by presenting other political solutions, refusing the obscure statements of the elites by demanding clarification, and mobilizing and organizing the people.”

 

World War 3: UANI goes after Korean car maker, UANI formed in 2008 specifically to go after companies doing business with Iran

“UANI’s unprecedented success in pressuring multinational corporations to cease business in Iran has alerted the business community of the serious financial and reputational risks of doing business with the Iranian regime.”-UANI statement

April 5, 2012, South Korean car maker, Hyundai, succumbed to the attacks from United Against Nuclear Iran (UANI).

Hyundai will stop exporting cars to Iran, however such a move will only hurt Hyundai, by reducing overall sales.  Iran has several car makers who will benefit by lack of foreign competition.

Hyundai is refusing to comment on the situation.

This is not about current U.S. sanctions against Iran.  I’ve already written how U.S. Congress, and George Bush Jr created a law in 2000 that exempted U.S. corporations from existing, and future sanctions against Iran, and North Korea.

UANI was created in 2008, for the express purpose of going after corporations that do business with Iran.

UANI also proudly admits they are the ones behind much of the anti-Iran legislation coming out of Washington DC.

UANI is also the main “official” source of anti-Iran info being used by the U.S. media.

UANI also proudly admits they are the ones behind the nuclear weapons scare mongering rhetoric concerning Iran.

Want proof, just go to their website.  You can find it yourself.

Want’s interesting is that UANI is claiming to be doing these things in the name of preventing Iran from getting nuclear weapons, yet they are actually shutting down Western (European, Asian) competitors to U.S. corporations.  How does that prevent another country from getting nuclear weapons?

 

World War 3: UANI goes after yet another French car maker, as well as a Japanese car maker

After shutting down a Peugeot Citroën factory, United Against Nuclear Iran (UANI) is now going after Renault and Nissan.

On April 6, 2012, UANI sent a letter to Renault’s president.  As in its threatening letter to General Motors it is full of unsubstantiated claims against Iran: “Renault’s business dealings in Iran directly support the Iranian regime’s ability to develop its illegal nuclear weapons program, support its terrorist proxies and pursue a brutal campaign of repression against the Iranian people.”-UANI statement

Show me the proof you UANI ass hole liars!

This comes after UANI successfully threatened General Motors into pressuring their French business partner Peugeot Citroën.

Renault has actually seen business go up in Iran, producing 93,578 vehicles in Iran in 2011.

UANI is also attacking Nissan, after the Japanese car maker got a $1 billion USD deal to make taxis for New York City: “New York taxpayer dollars should not benefit a corporation, like Nissan, that partners with a regime that is the world’s number one state sponsor of terror and has formed an alliance with al Qaeda.”-UANI statement

The biggest lie about that statement is the fact that Iran is not associated with al Qaeda!!!  The U.S. created al Qaeda is actually at war with Iran!!! Al Qaeda leaders have issued fatwas calling for the killing of Shi’a Muslims, who just happen to make up the majority of people living in Iran, why the hell would Iran support such an organization?!?

Oh, and I thought al Qaeda was the number one terrorist organization?

It really looks like the U.S. sanctions against Iran are actually meant to hurt Western (European/Japanese) competitors to U.S. corporations.